REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements for the Year Ended 31 March 2023 |
for |
SUPPLIER DEVELOPMENT PROGRAMME |
REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements for the Year Ended 31 March 2023 |
for |
SUPPLIER DEVELOPMENT PROGRAMME |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Report of the Independent Auditors | 4 |
Income Statement | 8 |
Balance Sheet | 9 |
Notes to the Financial Statements | 10 |
SUPPLIER DEVELOPMENT PROGRAMME |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
29 Brandon Street |
Hamilton |
ML3 6DA |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Report of the Directors |
for the Year Ended 31 March 2023 |
The directors present their report with the financial statements of the company for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a business support initiative supported by the Scottish Government, Scottish Local Authorities and other public bodies. The key business activity is to provide information, support and training events to assist Scottish SMEs, third sector and charities to navigate the complex tendering processes used in Public Sector Procurement. |
REVIEW OF BUSINESS |
The results for the year are shown in the Statement of Income and Retained Earnings on page 8. The profit for the year after taxation was £15,035 (2022: Loss of £11,816). |
In the year to 31 March 2023, the Programme received Scottish Government Grant funding of £150,000 (2022: £150,000). |
The Programme has continued to grow and during the year significant developments included: |
- The Scottish Government published an independent review , officially confirming that the Supplier Development Programme Scotland is widely recognised as Scotland's leading collaborative, proactive programme involving procurement and economic development, furthermore it acknowledged how SDP aligns with Community Wealth Building, given its aim of providing local suppliers with the knowledge, skills and preparation required to maximise contracting opportunities in their communities. |
- First NHS organisation to uptake SDP membership- NHS Greater Glasgow and Clyde |
- Corporate membership - Mitie Technical Facilities Management |
- A return to face-to-face events with the successful delivery of Meet the Buyer North in Murray |
- Over 22% year on year increase of supplier registrations: 1988 Scottish SMEs (unique business) bringing the overall total to 21,583 SME suppliers; and |
- Delivery of 114 supplier training webinars, including bespoke, aligned training events and Talking |
Tenders' webinars. |
The Scottish Government have confirmed SDP funding of up to £150,000 for the year 2023/24 (dependant on performance/ progress against on objectives) to continue to deliver and expand the Programme. |
The SDP team, working with the Board of Directors and the Scottish Government, continues to raise the SDP profile and expand public sector and other memberships of the Programme. The objectives of SDP are directly aligned to the National Performance Framework and its aims to create a more successful country and to create sustainable and inclusive growth. |
SDP continues to work with its member organisations to build better procurement practices by promoting and enabling the adoption of sustainable procurement practises, which fulfils a requirement for the Scottish. |
Government and public sector in line with the Sustainable Procurement Duty. In doing so, the SDP Programme directly contributes towards the national outcomes, notably: Communities; Economy; and Fair Work and Business. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report. |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Report of the Directors |
for the Year Ended 31 March 2023 |
DIRECTORS - continued |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Sharles Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Supplier Development Programme |
Opinion |
We have audited the financial statements of Supplier Development Programme (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its surplus for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Supplier Development Programme |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Supplier Development Programme |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
The aims of our audit are to identify and assess the risks of material misstatement of the financial statements as a result of fraud or error, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement as a result of fraud or error and to respond appropriately to those risks. As a result of the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures include the following: |
- | We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, Health & Safety at Work Act, GDPR and Anti Money Laundering legislation. We confirmed with management that there were no actual, suspected, or alleged issues instances of non-compliance with laws and regulations during the year. |
- | Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement teams: |
- knowledge of the industry in which the client operates- understanding of and practical enactments of a similar | nature, and complexity through appropriate training and participation |
- understanding of the legal and regulatory requirements specific to the entity |
- | We obtained an understanding of how the company complies with those legal and regulatory frameworks by making inquiries of management. We undertook a review of legal fees for any evidence of non-compliance. |
- | We assessed the susceptibility of the company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included: |
- | identifying and documenting the controls management has in place to prevent and detect fraud and error; |
- | understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; |
- | challenging assumptions and judgements made by management in its accounting estimates; |
- | assessing the extent of compliance with relevant laws and regulations; and |
- | sample testing of transactions and balances. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Supplier Development Programme |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditor |
29 Brandon Street |
Hamilton |
ML3 6DA |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Income Statement |
for the Year Ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS SURPLUS |
Administrative expenses |
OPERATING SURPLUS/(DEFICIT) | 6 | ( |
) |
Interest receivable and similar income |
SURPLUS/(DEFICIT) BEFORE TAXATION |
( |
) |
Tax on surplus/(deficit) |
SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
( |
) |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
The financial statements were approved by the Board of Directors and authorised for issue on |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | GENERAL INFORMATION |
These financial statements are presented in Pound Sterling (GBP), as that is the currency in which the company's transactions and denominated. They comprise the financial statements of the company drawn up for the year ended 31 March 2023. |
The continuing activities of Supplier Development Programme is to provide advice, information, events and training to small and medium sized businesses in partner council areas throughout Scotland. |
The company is a private company limited by guarantee and is incorporated in the United Kingdom and registered in Scotland. Details of the registered office can be found on the company information page of these financial statements. The company's registered number is SC342650. |
2. | STATUTORY INFORMATION |
Supplier Development Programme is a |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Rendering of services |
Turnover from a contract to provide services is recognised in the period the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- The amount of turnover can be measured reliably; |
- It is probable that the company will receive the consideration due under the contract; |
- The stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- The costs incurred and the costs to complete |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
4. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experiences and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
5. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
6. | OPERATING SURPLUS/(DEFICIT) |
The operating surplus (2022 - operating deficit) is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
7. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
SUPPLIER DEVELOPMENT PROGRAMME (REGISTERED NUMBER: SC342650) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
10. | RELATED PARTY DISCLOSURES |
There were no related party transactions. |
11. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |
12. | LIMITED BY GUARANTEE |
The company is limited by guarantee and has no share capital. |
13. | TRANSACTIONS WITH SOUTH LANARKSHIRE COUNCIL |
During the year South Lanarkshire Council gave a partners contribution (net of VAT) of £10,000 (2022 - £10,000). In addition, Supplier Development Programme was recharged expenses by South Lanarkshire Council of £291,887 (2022 - £264,182) to cover the costs of seconded staff, finance charges and IT support costs. Creditors also contained £1,851 worth of accruals and deferred income at the year end (2022 - £303). |
An amount of £360,399 (2022 - £392,235) was held on behalf of the company by South Lanarkshire Council at the year end and is included in debtors. |