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REGISTERED COMPANY NUMBER: 02419631 (England and Wales)
REGISTERED CHARITY NUMBER: 1158859














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Skills Work and Enterprise Development
Agency Ltd

Skills Work and Enterprise Development
Agency Ltd






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Report of the Trustees 1 to 6

Independent Examiner's Report 7

Statement of Financial Activities 8 to 9

Balance Sheet 10 to 11

Notes to the Financial Statements 12 to 17

Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Report of the Trustees
for the Year Ended 31 March 2024


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 March 2024. 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).

SWEDA's primary objective, as stated in the Memorandum of Association, is 'for the relief of unemployment for the public benefit'. It is SWEDA's mission to be an independent and authoritative advocate to support disadvantaged people across Sandwell and the Black Country towards employment and/or self-employment. Our vision is that all deprived communities have access to equal opportunities for employment. SWEDA have a client focused approach, and all views, concerns and suggestion of our clients are taken into account to develop future services and ensure our support suits the needs of our community. Our policies and support services take full account of inequalities, including those linked to age, sexuality, disability, religion, ethnicity and social class. The Trustees have also considered Charity Commission guidance on public benefit when planning all activities.

OBJECTIVES AND ACTIVITIES
Significant activities
SWEDA actively promotes and supports Sandwell MBC (Vision 2030) and West Midland combined Authority priorities through all its services. SWEDA is committed to delivering diverse services as an independent organisation providing advice, guidance, mentoring and training to support the relief of unemployment, improve digital skills and creation of new Enterprises across Sandwell and the Black Country. We work closely with a range of organisations across these areas, including Sandwell MBC and other key partners from the voluntary, community and statutory sectors. We also work closely to align our services to Sandwell. Councils Vision 2030 and WMCA (West Midlands Combined Authority) which includes the following key themes:

Sandwell Council's Growth Vision 2023:
Workforce and young people have the right skills to access jobs in a growing economy High quality education and training opportunities
More job opportunities for residents Promoting community economic development
Promoting community cohesion and regeneration
Support the development of new Businesses including Social Enterprises
Supporting diverse range of growing businesses and opportunities for inward investment
Improved health and well-being of local residents through partnership working and joined up services. Improved digital skills of local residents


WMCA West Midlands Growth Plan:
More young people will be in employment or training
More people who are not able to work will be supported to overcome their barriers, stopping them from accessing quality employment
More people will have higher level skills and be equipped for the jobs of the future
More people will live longer, healthier lives
Education, health and economic outcomes between the region' ethnic groups will be more equal
We will build and deliver an integrated Employment and Skills System
A Get West Midlands Working Plan
£30 million for bold, local skills innovation


Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Report of the Trustees
for the Year Ended 31 March 2024


OBJECTIVES AND ACTIVITIES
Public benefit
Sandwell has one of the highest rates of unemployment across the UK and is currently the 12th most deprived borough in the UK. It is our aim to provide the following:

The relief of financial hardship by the provision of free advice and assistance The advancement of education, training or retraining

Business / Social Enterprise advice, mentoring and training The creation of training and employment opportunities.
Improve physical and metal health and wellbeing of local residents.

SWEDA is based within West Bromwich - one of the six towns within Sandwell. The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission. The following activities have been undertaken for the public benefit.


Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Report of the Trustees
for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities

Advice, Support, Mentoring and Training Employability & Life Skills

We support unemployed clients and those on low income (working less than 16 hours per week) or zero-hour contracts and entitled to welfare benefits.
We deliver a set of employment related workshops to build individuals confidence levels as well as their understanding of skills required to successfully enter employment, these include

Effective Communication Skills Self Esteem / Confidence Building
Interview Skills/Techniques - Face to face and virtual job interviews CV preparation
Effective job searching including searching online Virtual job interview skills
Benefits of volunteering
Improve Financial Literacy E.g. Personal Budgeting In-work benefits advice
ESOL (English for Speakers of Other Languages) Training

Self-employment/Business:
Support for individuals or groups wishing to set up a new Business or a Social Enterprise.
We deliver a Business / Self-employment programme which includes a range of workshops (in person and virtually), for those who wish to pursue self-employment or set up their own Social enterprise. This is followed by individualised support from a qualified Business Advisor. This support includes the following:
1-2-1 Advice and Mentoring Business planning Marketing
Bookkeeping & self-assessment Social Media
Networking
Access to finance information (Loans & Grants)
Support for established micro businesses, sole traders, SMEs, Social Enterprises
We work with a wide range of partners across the Black Country to deliver a number of projects. For all Self-employment and social enterprise clients, we provide on-going advice and mentoring to support their business, sustainability and future growth.


Welfare Benefits Advice
We are a part of Sandwell Advice Providers Network (SAPN) and have been providing welfare benefits advice and support to our clients for several years. This has become a growing area especially with the introduction of Universal credit. Majority of these clients require Digital support. All of which compounds the challenges of ensuring that customers are claiming their full entitlement under Universal Credit.

Welfare Benefit Support includes the following
Universal Credit
Health related Benefits e.g. PIP (Personal Independent Payments) Understanding Tax Credits and Welfare Benefits
Better off Welfare Benefits calculations Welfare Advisory Services:
Support to apply for Pension Credits
Information about local Foodbanks and Food pantries Budgeting - Money Savings Tips, information on Social tariffs
Apply for rebates e.g. Council Tax, Reduction in water rates, Energy Bills
Access support from charitable trusts e.g. for white goods, reduction in Utility Bills (Water Assure)
Information about Warm Spaces in Sandwell - to stay warm and safe, to stay connected with others to reduce loneliness and isolation and get support with mental health and well-being issues.
Cost of Living advice and support.
Digital inclusion/Digital Training
Sandwell and Black Country residents are among some of the lowest internet users in the Country. This has become more acute with the introduction of Universal Credit and the requirements for the clients to do job search and manage their Universal Credit journal online.
We deliver a range of accredited and unaccredited IT training courses. We are also a UK online approved centre and through this we provide our Clients with basic digital skills and inform our Self- employed Clients about HMRC services.
Digital support includes the following:
A range of Microsoft Office Accredited courses (Beginners to Advanced)

Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Report of the Trustees
for the Year Ended 31 March 2024

A range of courses in Using keyboard & Mouse, Using Email, Using internet safely, Online Banking Identity Protection - using IT safely
Empower client to set up their own Universal Credit account and manage their online UC Journals. Access online / offline mainstream services.
Training to use a range of Virtual platforms e.g. Zoom and MS Teams
Support business clients to develop digital and social media skills for their business
e.g. Business Facebook page, LinkedIn profile, Business logos and marketing materials.


Delivery of contracts 2023 - 2024
During the past financial year, SWEDA has delivered on a number of successful contracts supporting unemployed individuals into further education, training, employment or self-employment/social enterprise. These services have been funded through the following:

Employment & Life Skills
Sandwell MBC - Service level Agreement
MADE Project - National Lottery
Black Country Futures (National Lottery Funding) National Lottery (Reaching Communities)
West Midlands Combined Authority (WMCA)- Community Renewal Fund
Communities Acting Together - UKSPF (Funding via WMCA/Sandwell Council/Sandwell Consortium)
Multiply Project - Funding via WMCA and Sandwell Consortium
Hateley Cross Project - Community Development Work
SLN (Sandwell Language Network) ESOL - Funding via Public Health and Sandwell Consortium

Welfare Benefits, Cost of Living Advice and Health and Wellbeing
Sandwell Council - Community Benefits Advice
Sandwell Council - COLT (Cost of Living Advice)
Reach and Reconnect Project (National Lottery) - funding via Sandwell Consortium
WDH (Wider Determinants of Health) funding via NHS and Communities in Sync

Business and Social Enterprise Support
RAISE (Raising Aspirations and Inspiring Self-employment/social enterprise) - European Regional Development Fund (ERDF) through Dept of Housing Communities and Local Government (DHCLG)
Social Enterprise Boost Fund - Dept for Culture, Media and Sport (DCMS)

IT and Digital Skills
UKCRF - Good Things Foundation
HMRC - Good Things Foundation / UK Online

Key Achievements 2023-2024
Number of clients used our community center and services - 1900 clients
Clients accessing new jobs - 76
IT Training (Accredited and unaccredited courses) - 245
ESOL Training - 36 clients
New Business and Social Enterprises started 31
Existing Business and Social Enterprises supported 51
New clients provided with business start up/Social Enterprise advice 129
Social Enterprise clients supported to access grants - £26,000
Support local community members to access Welfare Benefits advice and achieve Benefit Gains - £148,320

FINANCIAL REVIEW
Financial position
The trustees are satisfied with the financial position of the charity.


Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Report of the Trustees
for the Year Ended 31 March 2024


FINANCIAL REVIEW
Reserves policy
The trustees have set out a policy to maintain a minimum of 6 months overhead costs in reserves.

The total unrestricted reserves at the 31st March 2024 were £151,856 (2023 £320,546). The trustees are satisfied meets their policy. In addition to these the trustees have designated a total of £275,000 funds.

The trustees have agreed that a further £75,000 of the unrestricted funds should be transferred to the designated fund in order to fund the sourcing of new premises in due course.

Therefor as at the year-end £275,000 of unrestricted reserves are therefore designated for these purposes (2023 £200,000).

FUTURE PLANS
During the next year, SWEDA will continue to diversify our services to support deprived communities across Sandwell and the Black Country. SWEDA will also continue to look strategically at funding streams available to complement our current services including the development of consortia and partnership funding applications.
SWEDA will continue to provide employment and self-employment advice, guidance, mentoring and training but will look to expand our Digital/IT services to support the current needs of our clients and the growing need to develop digital skills, e.g. Internet Safety, Social Media. We will also look to continue providing training and advice around financial capability and increasing awareness of National Welfare Benefits changes such as Universal Credit to ensure our clients are resilient to future changes.

We will continue to expend delivery of our services for various offsite venues e.g Community Centers, Libraries and Partner Organisations premise.

Our major focus next year would be to continue to improve and increase our blended/hybrid delivery model. This would enable us to carry on providing both face to face as well as online advice mentoring and training using a variety of virtual platforms such as MS Teams, Zoom, WhatsApp, Video calling and emails.

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.

Organisational structure
The Board is comprised of four current Directors. Board meetings are undertaken on a regular basis and further meetings involving individual trustees are held as required. Management responsibility for the organisation rests with the Management Team who deal with operational matters. Strategic focus, along with scrutiny of the Management, is the remit of the Board.

Induction and training of new trustees
Trustees are asked to maintain regular contact with the organisation and are invited to attend public events on behalf of the organisation. All new Trustees are given an induction into the organisation by the Management team and Chair

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02419631 (England and Wales)

Registered Charity number
1158859


Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Report of the Trustees
for the Year Ended 31 March 2024

Registered office
The Business Centre
Church Street
West Bromwich
West Midlands
B70 8RP

Trustees
M R Inniss Director
Ms I A O'Connor Nurse/child Minder
A Salmon Senior Lecturer
E Syed Director

Company Secretary

Independent Examiner
Richard Ashmore BA, FCA
Altus Business Consulting Ltd
88-89 High Street
Wordsley
Stourbridge
West Midlands
DY8 5SB

Approved by order of the board of trustees on 22 August 2025 and signed on its behalf by:





M R Inniss - Trustee

Independent Examiner's Report to the Trustees of
Skills Work and Enterprise Development
Agency Ltd

Independent examiner's report to the trustees of Skills Work and Enterprise Development Agency Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

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.








Richard Ashmore BA, FCA
The Institute of Chartered Accountants in England and Wales

Altus Business Consulting Ltd
88-89 High Street
Wordsley
Stourbridge
West Midlands
DY8 5SB

22 August 2025

Skills Work and Enterprise Development
Agency Ltd

Statement of Financial Activities
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 (1 ) 1 -

Charitable activities
SMBC SLA 109,473 - 109,473 187,537
CMF Project - - - 4,963
Raise ERDF - 25,177 25,177 -
BBO Bridges - - - 32,343
BBO Community Matters - - - 6,836
BBO Family Matters - - - 9,429
CRF 50+ Project - - - 25,952
SPF Project - 5,524 5,524 5,524
Good Things Foundation - 960 960 -
Black Country Future - 16,786 16,786 -
SLN - ESOL Training - 23,938 23,938 10,057
Multiply Project - 8,311 8,311 4,696
Other Income 11,678 - 11,678 7,560
Social Enterprise Boost Fund - 36,588 36,588 -
National Lottery - 132,781 132,781 57,674
Access to Business - 6,499 6,499 -
Research & Connect - 17,346 17,346 -
Hately Cross - 22,463 22,463 -
CATS - 17,491 17,491 -
COLT - 15,465 15,465 -
WDH - 470 470 -

Investment income 2 450 - 450 128
Total 121,603 329,798 451,401 352,699

EXPENDITURE ON
Charitable activities
SMBC SLA 303 - 303 80,880
CMF Project - - - 4,963
Raise ERDF - 25,176 25,176 -
CRF 50+ Project - - - 25,952
SPF Project - 5,524 5,524 5,524
Good Things Foundation - 960 960 -
Black Country Future - 16,786 16,786 -
SLN - ESOL Training - 23,938 23,938 -
Multiply Project - 8,311 8,311 4,696
Premises Costs 5,106 - 5,106 43,316
Administration Costs 9,884 - 9,884 21,091
BBO Projects - - - 48,608
Social Enterprise Boost Fund - 36,588 36,588 -
National Lottery - 120,781 120,781 57,674
Access to Business - 6,499 6,499 -
Research & Connect - 17,346 17,346 -
Hately Cross - 22,463 22,463 -
CATS - 17,491 17,491 -
COLT - 15,465 15,465 -
WDH - 470 470 -

Skills Work and Enterprise Development
Agency Ltd

Statement of Financial Activities
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
Total 15,293 317,798 333,091 292,704

NET INCOME 106,310 12,000 118,310 59,995


RECONCILIATION OF FUNDS
Total funds brought forward 320,546 - 320,546 260,551

TOTAL FUNDS CARRIED FORWARD 426,856 12,000 438,856 320,546

Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 6,924 - 6,924 6,155

CURRENT ASSETS
Debtors 8 13,594 - 13,594 44,468
Cash in hand 414,152 12,000 426,152 288,081
427,746 12,000 439,746 332,549

CREDITORS
Amounts falling due within one year 9 (7,814 ) - (7,814 ) (18,158 )

NET CURRENT ASSETS 419,932 12,000 431,932 314,391

TOTAL ASSETS LESS CURRENT
LIABILITIES

426,856

12,000

438,856

320,546

NET ASSETS 426,856 12,000 438,856 320,546
FUNDS 10
Unrestricted funds 426,856 320,546
Restricted funds 12,000 -
TOTAL FUNDS 438,856 320,546

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.


Skills Work and Enterprise Development
Agency Ltd (Registered number: 02419631)

Balance Sheet - continued
31 March 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 22 August 2025 and were signed on its behalf by:





M R Inniss - Trustee

Skills Work and Enterprise Development
Agency Ltd

Notes to the Financial Statements
for the Year Ended 31 March 2024

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.

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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
The charity is exempt from corporation tax on its charitable activities.

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.


Skills Work and Enterprise Development
Agency Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 450 128

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Depreciation - owned assets 2,308 3,076

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


5. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.24 31.3.23
Staff 15 14

No employees received emoluments in excess of £60,000.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
SMBC SLA 187,537 - 187,537
CMF Project - 4,963 4,963
BBO Bridges - 32,343 32,343
BBO Community Matters - 6,836 6,836
BBO Family Matters - 9,429 9,429
CRF 50+ Project - 25,952 25,952
SPF Project - 5,524 5,524
SLN - ESOL Training 10,057 - 10,057
Multiply Project - 4,696 4,696
Other Income 7,560 - 7,560
National Lottery - 57,674 57,674

Investment income 128 - 128
Total 205,282 147,417 352,699

Skills Work and Enterprise Development
Agency Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
£    £    £   

EXPENDITURE ON
Charitable activities
SMBC SLA 80,880 - 80,880
CMF Project - 4,963 4,963
CRF 50+ Project - 25,952 25,952
SPF Project - 5,524 5,524
Multiply Project - 4,696 4,696
Premises Costs 43,316 - 43,316
Administration Costs 21,091 - 21,091
BBO Projects - 48,608 48,608
National Lottery - 57,674 57,674
Total 145,287 147,417 292,704

NET INCOME 59,995 - 59,995


RECONCILIATION OF FUNDS
Total funds brought forward 260,551 - 260,551

TOTAL FUNDS CARRIED FORWARD 320,546 - 320,546

7. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 30,326 43,903 74,229
Additions - 3,077 3,077
At 31 March 2024 30,326 46,980 77,306
DEPRECIATION
At 1 April 2023 26,571 41,503 68,074
Charge for year 939 1,369 2,308
At 31 March 2024 27,510 42,872 70,382
NET BOOK VALUE
At 31 March 2024 2,816 4,108 6,924
At 31 March 2023 3,755 2,400 6,155


Skills Work and Enterprise Development
Agency Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,594 42,223
Prepayments - 2,245
13,594 44,468

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1 5,963
Social security and other taxes 4,415 4,080
Other creditors 1,828 6,745
Accrued expenses 1,570 1,370
7,814 18,158

10. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.23 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 120,546 106,310 (75,000 ) 151,856
Designated Building Fund 200,000 - 75,000 275,000
320,546 106,310 - 426,856
Restricted funds
Restricted Fund - 12,000 - 12,000

TOTAL FUNDS 320,546 118,310 - 438,856

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 121,603 (15,293 ) 106,310

Restricted funds
Restricted Fund 329,798 (317,798 ) 12,000

TOTAL FUNDS 451,401 (333,091 ) 118,310


Skills Work and Enterprise Development
Agency Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 140,551 59,995 (80,000 ) 120,546
Designated Building Fund 120,000 - 80,000 200,000
260,551 59,995 - 320,546
TOTAL FUNDS 260,551 59,995 - 320,546

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 205,282 (145,287 ) 59,995

Restricted funds
Restricted Fund 147,417 (147,417 ) -

TOTAL FUNDS 352,699 (292,704 ) 59,995

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 140,551 166,305 (155,000 ) 151,856
Designated Building Fund 120,000 - 155,000 275,000
260,551 166,305 - 426,856
Restricted funds
Restricted Fund - 12,000 - 12,000

TOTAL FUNDS 260,551 178,305 - 438,856

Skills Work and Enterprise Development
Agency Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 326,885 (160,580 ) 166,305

Restricted funds
Restricted Fund 477,215 (465,215 ) 12,000

TOTAL FUNDS 804,100 (625,795 ) 178,305

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.