Trading throughout 2024 – 2025 has remained static for NLT Training Services at £159,189 income for the year, although some new courses have been introduced.
Investment was made by bringing a sales and marketing function to the team. This role was responsible for cleansing the data on the CRM system, HubSpot, and then to proactively market to the wider community. This didn’t bring the desired outcomes and the process and resource needed amending. This is now being managed by the PR company that NLT works with, In the Works PR, and a dedicated sales role is now in place. This has brought more structure to the marketing function, and the marketing plan has been updated in line with the budget for 25 – 26 along with regular monthly marketing meetings with the whole team. This works well and all-important information is shared at this point.
NLT requires a full transparent system with HubSpot to include a completed training record against all companies using NLT. This will allow the facilitators to proactively remind companies when their qualifications are ready for updating. This already happens with the CCNSG and SPA qualifications, but this now needs to happen with all training qualifications.
NLT continues to use social media to promote topical information and relate it to courses being delivered. Course activity each week is also promoted to the wider network of partners. A Linked In newsletter is shared monthly. This promotes the Management and Leadership activity via CMI and is tied in with topical reports in the news.
The regular monthly newsletter goes to all contacts in the CRM system detailing all open course dates for the next month along with information relating to Health & Safety and Management and Leadership.
Analytics from In the Works PR show that engagement with all posts continues to be good and that individuals are keen to see what NLT is up to. All posts receive good impression results each month. This will continue throughout the new financial year to ensure that the CRM system works effectively for NLT.
The trustees present their annual report and financial statements for the year ended 31 July 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The objects of the charity as set out in its Articles of Association 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 generally.
The charity supports individuals in business communities to grow by developing their work related skills through training and development, coaching and mentoring and in some cases providing a financial bursary for those who would be unable to access the training due to poor financial circumstances.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
This is covered within the Chair's report on page 2.
Overall NLT Training has had a steady year with the income in line with last year. The final figure for the year is £163,187 with operational income at £159,189. This is a very small increase on last year and the income is made up solely of commercial sales on courses.
Despite this, the visual presence of NLT continues to improve through its social media advertising of courses, newsletters, and continual communication to the customer base.
On 31st July 2025 total funds of the charity (defined as unrestricted funds of the charity) show a surplus of £270,863 (2024 surplus £341,976).
An ambitious budget has now been put in place again for 2025 – 2026. The monthly accounts will be set against the budget for the new financial year of 2025-2026.
The charity aims to maintain adequate reserves sufficient to ensure that:
(a) its financial position is protected should there be a sudden downturn in income;
(b) there is protection against periodic adverse changes in cashflow;
(c) resources are available to allow for improvements in the charity’s main purpose of educating those in need.
The reserves policy is monitored by meetings of the directors of the company. Should the level of reserves fall below the levels deemed sufficient, the directors closely monitor the performance of the charity with a view to increasing reserves back to levels that are considered to be adequate or take necessary critical steps to prevent further reduction in reserves.
The directors have put in place a risk management strategy to pursue risk management goals and objectives. These goals and objectives include:
I. Avoiding exposure to accidental loss by not undertaking events, contracts, or activities where the potential loss is greater than the potential benefit to be derived from these undertakings,
2. Preventing loss by identifying potential loss exposures and implementing policies and procedures to reduce the risk of these losses occurring,
3. Controlling losses that do occur by developing contingency plans for possible loss scenarios.
The directors consider the risks to which the charity is exposed and review the risk management strategy at board meetings.
The board acknowledged last year that growth will not happen without investment. It has remained static over the last two years, and no substantial growth has occurred. Reviewing the ‘offer’ of courses remains high to ensure the ‘offer’ meets the needs of our customers.
The ambitious budget remains in place and has been agreed by the board for the financial year 2025-2026. This shows a significant increase of income to ensure the investment is covered and this will be challenging.
The marketing plan has been updated and agreed by the board. This runs in line with the budget for 2025-2026 and details a month-by-month chain of marketing activity. This will be closely monitored by the CEO and In the Works PR.
More effort has been put into a sales and marketing role, introduced during the year has been adapted to work better. NLT employed an intern to cleanse the data and input into the CRM system HubSpot. This worked for a short period of time but ultimately didn’t produce the right results. A decision was then taken to contract out the work to In the Works PR, and they now have full responsibility for all the activity. A dedicated individual has been employed to work on the role.
This person will proactively prospect companies for business alongside ensuring the data is clean and correct. This will give us a clear system to operate from and will hold data on individual company’s training records. Other elements of the sales and marketing activity will be covered by In the Works PR to include all the regular social media activity and advertising, all CRM activity and SM analytics for the board meetings. The two course facilitators will continue to account manage the hot companies who work with us regularly. This makes good sense as they are dealing with these companies on a day-to-day basis. All updates will be reported through to the sales and marketing team at In the Works PR and in turn the CRM updated.
Safety passports continue to be required by many companies when going onto commercial sites. The Safety Pass Alliance (SPA) have introduced a new warehousing safety passport for those who work on large logistic sites. This is currently being proactively promoted to logistic companies and recruitment companies who are finding placements for seasonal staff.
NLT Training Services Limited is limited by guarantee and governed by its Articles of Association adopted on incorporation dated 13 August 1980, as amended on 20 February 1992, 25 October 1996, 21 May 2007, 16 March 2010 and 8 April 2019.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
As set out in the Articles of Association the directors are appointed by the company from out of the members. The board of directors comprises the Chairman, the Vice Chairman and up to five other members (or such other numbers of members as the company, in general meeting, shall from time to time fix) appointed by the company in general meeting, each of whom shall be chosen as representing one of the persons or bodies which are ordinary members of the company or are representative members of the company. The board may also co-opt other persons as it thinks fit to join the board and vote.
The board of directors administer the charity. The board meets at least quarterly and on a more frequent basis when it is deemed necessary. A Chief Executive is appointed by the board to manage the day to day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within the terms of delegation approved by the directors, for operational matters including finance and employment.
New directors undergo an induction process which aims to inform them of their responsibilities as trustees of the charity.
Arrangements for setting pay and remuneration of key management personnel rest with the board of directors.
The trustees report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of NLT Training Services Limited (the charity) for the year ended 31 July 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
The notes on pages 8 to 15 form part of these financial statements.
NLT Training Services Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Devonshire House, Station Road, Brimington, Chesterfield, Derbyshire, S43 1JU.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Income from charitable activities, which includes income received under contract where entitlement to grant funding is subject to specific performance conditions, is recognised as earned as the related services are provided, after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Charitable activities include expenditure associated with the provision of training and include both the direct and support costs relating to these activities. Governance costs comprise the costs of complying with constitutional and statutory requirements. Support costs comprise the costs incurred by the company which are not direct costs of providing training but are incurred by the company in order to fulfil its charitable activities.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand and deposits held at call with banks.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities in expenditure on charitable activities.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience 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 the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the year the charity entered into the following transactions with related parties:
Purchased book keeping services totalling £5,700 (2024 £5,700) from Chatsworth Accounts Services Ltd, registered in England, in which Mr Martin Lovatt is a director and shareholder.
Purchased marketing services totalling £6,840 (2024 £7,584) from In The Works PR Ltd, registered in England, in which Mrs Anna Melton is a director and shareholder. £792 (2024 £1,440) remained payable at the balance sheet date.
Paid rent and service charges in respect of Devonshire House, Chesterfield, totalling £14,755 (2024 £14,755) to Phoenix Technology Group Ltd, registered in England, in which Mr Simon Winfield is a director and shareholder. £4,814 (2024 £4,814) remained payable at the balance sheet date.
All transactions were made on commercial terms.