NETA TRAINING TRUST

Company limited by guarantee

Company Registration Number:
01273462 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

NETA TRAINING TRUST

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

NETA TRAINING TRUST

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

Charitable Objectives and Purpose The objectives of the charity are to promote and advance adequate training of persons employed or intending to be employed in industry and commerce and to extend such training to members of the public. This activity was transferred to the parent entity on 1 August 2022. During the year NETA Training Trust retained the lease on a property. Discussions are ongoing with the landlord in relation to the formal transfer of the lease, which will then allow the charitable company to be ‘closed’. Overview The trustees approved the transfer of its trade to the Education Training Collective (Etc.) on 1 August 2022, and as such NETA has ceased trading through this entity. The trustees are confident that the transfer of the business to Etc. ensures that it is well positioned to continue delivering high quality education. The trustees believe that the future success of the NETA trade is secure delivered through Etc. Outlook The trustees approved the transfer of its trade to the Education Training Collective (Etc.) on 1 August 2022, and as such NETA has ceased trading through this entity. This strategic decision was taken to further consolidate the trade of NETA into the future

Additional information

A basis other than going concern In considering whether it is appropriate to prepare these financial statements on a going concern basis the Trustees have considered the requirements of FRS 102, which state that an entity is a going concern unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so. The trade and certain assets and liabilities of the charitable company were transferred to the parent entity on 1 August 2022 therefore the charitable company ceased to trade on 1 August 2022. Therefore the Trustees do not believe that it is appropriate to prepare these financial statements on a going concern basis. No adjustments have been made to the financial statements as a result of the application of a basis other than going concern accounting. Financial Review The transfer of trade and assets resulted in £1,095k being transferred to the parent organisation in 2023. This resulted in total expenditure for the current year of £99k and reserves at 31st July 2024 of £-420k.



Directors

The director shown below has held office during the whole of the period from
1 August 2023 to 31 July 2024

Grant Glendinning


The director shown below has held office during the period of
1 August 2023 to 19 April 2024

Mark Wilson


The director shown below has held office during the period of
18 July 2024 to 31 July 2024

Philip Hastie


Secretary Fiona Sharp

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
16 December 2024

And signed on behalf of the board by:
Name: Grant Glendinning
Status: Director

NETA TRAINING TRUST

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: 0 ( 1,193,649 )
Other operating income: 0 0
Operating profit(or loss): 0 (1,193,649)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 0 (1,193,649)
Tax: 0 0
Profit(or loss) for the financial year: 0 (1,193,649)

NETA TRAINING TRUST

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 376,991 414,691
Investments:   0 0
Total fixed assets: 376,991 414,691
Current assets
Stocks:   0 0
Debtors: 4 22,083 22,083
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 22,083 22,083
Creditors: amounts falling due within one year: 5 ( 203,418 ) ( 70,923 )
Net current assets (liabilities): (181,335) (48,840)
Total assets less current liabilities: 195,656 365,851
Creditors: amounts falling due after more than one year: 6 ( 615,247 ) ( 686,170 )
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (419,591) (320,319)
Members' funds
Profit and loss account: (419,591) ( 320,319)
Total members' funds: ( 419,591) (320,319)

The notes form part of these financial statements

NETA TRAINING TRUST

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 December 2024
and signed on behalf of the board by:

Name: Grant Glendinning
Status: Director

The notes form part of these financial statements

NETA TRAINING TRUST

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    All incoming resources are accounted for when the charity has entitlement to the funds, certainty of receipt and the amount is measurable. Where income is received in advance of performance, or other specified service, it is deferred until the charity is entitled to that income.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: - Leasehold building Period of lease A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities

    Other accounting policies

    Sale and leaseback A sale and leaseback transaction is one where a vendor sells an asset and immediately reacquires the use of that asset by entering into a lease with the buyer. When this occurs the proceeds are credited to a liability account, demonstrating the commercial substance of the transaction, which is reduced by the capital element of future payments and interest is charged to the SOFA on a straight line basis. Operating lease agreements Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease

NETA TRAINING TRUST

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

NETA TRAINING TRUST

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 1,101,692 1,101,692
Additions 0 0
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 July 2024 1,101,692 1,101,692
Depreciation
At 1 August 2023 687,001 687,001
Charge for year 37,700 37,700
On disposals 0 0
Other adjustments 0 0
At 31 July 2024 724,701 724,701
Net book value
At 31 July 2024 376,991 376,991
At 31 July 2023 414,691 414,691

NETA TRAINING TRUST

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Debtors

2024 2023
£ £
Other debtors 22,083 22,083
Total 22,083 22,083
Debtors due after more than one year: 0 0

NETA TRAINING TRUST

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 203,418 70,923
Total 203,418 70,923

£132485 in 2024 is Amounts owed to group undertaking

NETA TRAINING TRUST

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 615,247 686,170
Total 615,247 686,170