REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Mid and North Wales Training Group |
Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Mid and North Wales Training Group |
Limited |
Mid and North Wales Training Group |
Limited |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 18 |
Mid and North Wales Training Group |
Limited |
Reference and Administrative Details |
for the Year Ended 31 July 2023 |
TRUSTEES |
COMPANY SECRETARY | J Engleheart |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Morgan Griffiths LLP |
Chartered Accountants |
Cross Chambers |
9 High Street |
Newtown |
Powys |
SY16 2NY |
SENIOR MANAGEMENT | N Jones |
A Ellis |
Mid and North Wales Training Group |
Limited (Registered number: 01484530) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's object and principal activity continues to be that of the advancement of theoretical and practical education and training of persons engaged in industry and commerce. |
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning their future activities. |
The charity offers the building free of charge for public events for the local community and public bodies. |
The charity offers free courses, wherever possible, to learners undertaking Frameworks as part of their Apprenticeships. These are offered commercially to other learners. An example of these free courses are First Aid at Work and Health and Safety training. |
The building and computer assets are also available to learners whenever the need requires e.g. when a learner cannot afford a computer for his work. |
Mid and North Wales Training Group |
Limited (Registered number: 01484530) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The company has sustained its position as a provider to 3 main contractors and has satisfied and succeeded all quality and quantity targets set by the contractor and Welsh Government for attainment rates in apprenticeship delivery. |
We have achieved Programme Success for 22/23 of 92%, a substantial increase on the previous year. Timely completions for 22/23 is 63%, a substantial increase on the previous years across all contracts. |
5 learners have progressed from level 2 to level 3, and 1 learner from level 3 to level 4 in 22/23 contract year. |
All awarding body certification has been held in place and the company is rated as a low risk centre. |
Cyber Essentials and Cyber Essentials plus accreditation was retained. |
Policies & procedures were updated January 2023. |
We have attended careers events at Powys High schools, colleges and North Shropshire College. |
We have supported Llanfyllin High School with IQA support and Guidance for their aim to deliver qualifications |
. |
Developed qualification portfolio to include Level 2 Warehousing and Level 2 Business Improvement Techniques. |
Defibrillator has been installed outside of the building. |
Green Dragon Level 2 Environmental Standard achieved. |
Additional 5% cost of living rise received from Welsh Government for Work Based Learning. |
Retained Investor in People Standard. |
Supported MWMG & Makefast running factory tours to Newtown High School pupils during Apprenticeship Week. |
Toilet cisterns upgraded. |
FINANCIAL REVIEW |
Financial position |
The Statement of Financial Activities shows a net deficit from ordinary activities for the year of £969 (2022 surplus of £29,625) and reserves now stand at £433,701 (2022 £345,745). |
The charity's funds have all been applied in accordance with its objectives and the charity's assets are all being maintained in the furtherance of these objectives. |
Principal funding sources |
The principal funding source for the charity is income generated from training activities. |
Investment policy and objectives |
Under the memorandum and articles of association, the charity has the power to make investments which the trustees see fit. The assets of the charity are available and adequate to meet its obligations for the foreseeable future. |
Mid and North Wales Training Group |
Limited (Registered number: 01484530) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
FINANCIAL REVIEW |
Reserves policy |
The trustees and directors have established a policy whereby the unrestricted funds not committed or invested in tangible or intangible fixed assets (i.e free reserves) held by the charity should be equivalent to six month operating costs. |
Free reserves which equate to net assets (excluding restricted funds) amount to £174,923 (2022 £173,565). |
The Financial Risk Management policy is reviewed annually and the level of reserves is reviewed by the trustees on an ongoing basis. |
FUTURE PLANS |
To retain and increase our sub-contract provision with two existing providers for the new Work based learning contract term. |
Improve the success rates of learners achieving and improve the rate of learners completing on or before their expected end dates. |
Embed the relationship between both organisations to support companies in the region. |
Improve building efficiency. |
Provide defibrillator training in the community. |
Train an additional IQA. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
This charity is also known as 'Myrick Training Services'. |
Recruitment and appointment of new trustees |
The Board has the power to appoint additional trustees as it considers fit to do so. All directors of the company are also trustees of the charity and there are no other trustees. All of the trustees named above served throughout the year unless appointed or resigned as shown. |
Organisational structure |
The charity is organised so that the trustees meet regularly to manage its affairs. There are ten full time or part time employees who manage the day to day administration for the charity, and organised the various educational and training courses operated during the year. |
Induction and training of new trustees |
The familiarisation of new trustees with the charity and the context within which it works takes the form of: |
- The obligations of Trustees, |
- The operational framework of the charity, particularly in relation to the Memorandum and Articles, |
- Resourcing of the charity's activities and the current financial position, |
- Future plans and objectives. |
Mid and North Wales Training Group |
Limited (Registered number: 01484530) |
Report of the Trustees |
for the Year Ended 31 July 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Related parties |
Since March 2021 the Charity has been the sole member, and thus controlling party, of Mid Wales Manufacturing Group Ltd (MWMG). |
MWMG is a not-for-profit company limited by guarantee, founded in 1994 with objects including promoting the manufacturing industry in Wales, improving the success, quality, profitability and efficiency in manufacturers in Wales and promoting and enhancing the education, training and skills of persons in Wales. |
The two organisations' close cooperation includes the sharing of skills, resources, knowledge and joint ventures to the mutual benefit of both parties, in ways that are deemed by the Trustees to be beneficial to the Charity in furtherance of its objects. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Mid and North Wales Training Group |
Limited |
Independent examiner's report to the trustees of Mid and North Wales Training Group Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Thomas Landers BA FCA |
Morgan Griffiths LLP |
Chartered Accountants |
Cross Chambers |
9 High Street |
Newtown |
Powys |
SY16 2NY |
25 March 2024 |
Mid and North Wales Training Group |
Limited |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 July 2023 |
31.7.23 | 31.7.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities | 3 |
Training | 341,657 | - | 341,657 | 378,190 |
Investment income | 2 | 605 | - | 605 | 30 |
Other income | 3,531 | - | 3,531 | 5,035 |
Total | 345,793 | - | 345,793 | 383,255 |
EXPENDITURE ON |
Charitable activities | 4 |
Training | 346,762 | - | 346,762 | 353,630 |
NET INCOME/(EXPENDITURE) | (969 | ) | - | (969 | ) | 29,625 |
Other recognised gains/(losses) |
Gains on revaluation of fixed assets |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 345,745 | - | 345,745 | 316,120 |
TOTAL FUNDS CARRIED FORWARD | 345,745 |
Mid and North Wales Training Group |
Limited (Registered number: 01484530) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
Investments | 12 |
CURRENT ASSETS |
Debtors | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 15 | ( | ) | ( | ) |
NET ASSETS |
FUNDS | 18 |
Unrestricted funds | 433,701 | 345,745 |
TOTAL FUNDS | 433,701 | 345,745 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Mid and North Wales Training Group |
Limited (Registered number: 01484530) |
Balance Sheet - continued |
31 July 2023 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Preparation of consolidated financial statements |
The financial statements contain information about Mid and North Wales Training Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Interest receivable |
Interest on funds held on deposit in included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Allocation and apportionment of costs |
Support costs have been apportioned to the activity - 'Training' in full. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
No depreciation is provided on freehold land. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Investment in subsidiaries |
Investment in subsidiaries are recorded at cost less impairment. |
2. | INVESTMENT INCOME |
31.7.23 | 31.7.22 |
£ | £ |
Deposit account interest |
3. | INCOME FROM CHARITABLE ACTIVITIES |
31.7.23 | 31.7.22 |
Activity | £ | £ |
Training Income | Training | 258,428 | 316,795 |
Courses | Training | 83,229 | 61,395 |
4. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 5) | note 6) | Totals |
£ | £ | £ |
Training | 312,309 | 34,453 | 346,762 |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
31.7.23 | 31.7.22 |
£ | £ |
Staff costs | 191,526 | 161,481 |
Telephone | 4,484 | 5,918 |
Stationery & Advertising | 3,163 | 3,946 |
External Training Costs | 102,448 | 112,652 |
Seminars & Staff Training | - | 98 |
Travelling Expenses | 970 | 542 |
Motor Servicing & Repairs | 6,630 | 4,921 |
Postage | 75 | 193 |
Motor Licence & Insurance | 1,538 | 1,407 |
Subscriptions | 1,475 | 382 |
Management charge | - | 9,200 |
312,309 | 300,740 |
6. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Training | 25,442 | 9,011 | 34,453 |
Support costs, included in the above, are as follows: |
31.7.23 | 31.7.22 |
Total |
Training | activities |
£ | £ |
Rates and water | 1,527 | 1,561 |
Insurance | 3,036 | 3,449 |
Light, heat & cleaning | 4,970 | 4,838 |
Sundries | 1,598 | 1,305 |
Renewal & Maintenance Expenses | 3,664 | 15,593 |
Computer software and support | 7,532 | 11,120 |
Depreciation of tangible and heritage assets | 2,327 | 8,985 |
Interest payable and similar charges | 788 | 641 |
Accountancy fees | 3,110 | 3,312 |
Legal & professional fees | 4,581 | 766 |
Independent examination fees | 1,320 | 1,320 |
34,453 | 52,890 |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.7.23 | 31.7.22 |
£ | £ |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
9. | STAFF COSTS |
31.7.23 | 31.7.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
191,526 | 161,481 |
The average monthly number of employees during the year was as follows: |
31.7.23 | 31.7.22 |
Direct charitable | 8 | 8 |
Administration | 2 | 1 |
The charity considers its key management personnel comprise the senior management listed on page 1. The total employment benefits including employer pension contributions of the key management personnel for the year ended 31 July 2023 were £73,845 (2022 £66,886). |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Training | 378,190 | - | 378,190 |
Investment income | 30 | - | 30 |
Other income | 5,035 | - | 5,035 |
Total | 383,255 | - | 383,255 |
EXPENDITURE ON |
Charitable activities |
Training | 322,304 | 31,326 | 353,630 |
NET INCOME/(EXPENDITURE) | 60,951 | (31,326 | ) | 29,625 |
RECONCILIATION OF FUNDS |
Total funds brought forward | 284,794 | 31,326 | 316,120 |
TOTAL FUNDS CARRIED FORWARD | 345,745 | - | 345,745 |
11. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and |
property | property | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2022 |
Disposals | ( | ) |
Revaluations |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( | ) |
Charge written back | (20,425 | ) | (1,500 | ) | - |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2022 |
Disposals | ( | ) | ( | ) |
Revaluations |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
Charge written back | - | - | (21,925 | ) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
The freehold property was valued by Morris Marshall And Poole, Chartered Surveyors, on an open market basis on the 29th November 2023 for £250,000. The historical cost is £57,650. The property is maintained to the highest standard and therefore the freehold property is not being depreciated. |
12. | FIXED ASSET INVESTMENTS |
The charity controls Mid Wales Manufacturing Group Limited, a company limited by guarantee. Its results and financial position are as follows: |
Year ended 31.7.23 | Period 1.4.21 to 31.7.22 |
£ | £ |
Income statement |
Income | 228,334 | 259,345 |
Expenditure | -169,417 | -226,423 |
Surplus for the period | 58,917 | 32,922 |
Balance sheet |
Assets | 227,450 | 121,179 |
Liabilities | -65,933 | -18,579 |
Reserves | 161,517 | 102,600 |
This company holds shares in Myrick Training Services Limited, a dormant company that has not traded since 31st March 1997. |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other loans (see note 16) |
Trade creditors |
Social security and other taxes |
Other creditors |
Accrued expenses |
15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other loans (see note 16) | 16,523 |
16. | LOANS |
An analysis of the maturity of loans is given below: |
31.7.23 | 31.7.22 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 2,629 | 2,629 |
Amounts falling between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Other loans more 5yrs instal | - | 5,190 |
On the 26th April 2023 the second loan from WCVA was paid off in full before the scheduled repayments were due. |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
17. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31.7.23 | 31.7.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 258,778 | - | 258,778 | 172,180 |
Current assets |
Current liabilities | ( | ) | ( | ) | ( | ) |
Long term liabilities | (5,651 | ) | - | (5,651 | ) | (16,523 | ) |
433,701 | - | 433,701 | 345,745 |
18. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 345,745 | 87,956 | 433,701 |
TOTAL FUNDS | 87,956 | 433,701 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 345,793 | (346,762 | ) | 88,925 | 87,956 |
TOTAL FUNDS | ( | ) | 87,956 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.21 | in funds | 31.7.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 284,794 | 60,951 | 345,745 |
Restricted funds |
Big Lottery Fund | 5,376 | (5,376 | ) | - |
WCVA | 25,950 | (25,950 | ) | - |
31,326 | (31,326 | ) | - |
TOTAL FUNDS | 316,120 | 29,625 | 345,745 |
Mid and North Wales Training Group |
Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
18. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 383,255 | (322,304 | ) | 60,951 |
Restricted funds |
Big Lottery Fund | - | (5,376 | ) | (5,376 | ) |
WCVA | - | (25,950 | ) | (25,950 | ) |
- | (31,326 | ) | (31,326 | ) |
TOTAL FUNDS | 383,255 | (353,630 | ) | 29,625 |
19. | EMPLOYEE BENEFIT OBLIGATIONS |
During the year £7,451 (2022 £6,581) was charged to pension contributions. At the year end no amounts were outstanding (2022 nil). |
20. | RELATED PARTY DISCLOSURES |
During the year Myrick Training Services provided training workshops for Mid Wales Manufacturing Group covering First Aid Awareness and Basic Engineering Maths to the value of £1,470. STEM Delivery Support Sessions were also delivered to the value of £645. Myrick Training Services provided course accreditation, guidance & verification to the value of £7,000 for Mid Wales Manufacturing Group to support the Numeracy Project Delivery. Myrick Training Services sponsored the Powys Business Awards (run by Mid Wales Manufacturing Group) Social Enterprise/Charity Category to the value of £3,600. |