REGISTERED COMPANY NUMBER: 01484530 (England and Wales)

REGISTERED CHARITY NUMBER: 510108

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2025

for

Mid and North Wales Training Group

Limited

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

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

to

20

TRUSTEES

R Benyon

C R Gilliard

B N Murray

Ms P A Evans (resigned 16.9.24)

J A Bebb

M D Mills

P J Webber

M D Miles

Dr J Jones

COMPANY SECRETARY

Mrs S C Stephens

REGISTERED OFFICE

Myrick House

Hendomen

Montgomery

Powys

SY15 6EZ

REGISTERED COMPANY NUMBER

01484530 (England and Wales)

REGISTERED CHARITY NUMBER

510108

INDEPENDENT EXAMINER

Morgan Griffiths LLP

Chartered Accountants

Cross Chambers

9 High Street

Newtown

Powys

SY16 2NY

SENIOR MANAGEMENT

N Jones

A Ellis

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 2025. 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.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The company has sustained its position as a provider to 2 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 24/25 for SAW of 100% and Coleg Cambria of 83%. Timely success rate for SAW at 33% and Coleg Cambria at 25%.

Apprentices have progressed from level 2 to 3, and 3 to 4 in both engineering and management disciplines.

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 and procedures were updated in January 2025.

We have attended Careers events at Powys High Schools, Powys & Shropshire Colleges and at Careers Wales events. (including in Ceredigion).

We have supported Llanfyllin High School with IQA support and guidance for their EAL qualification delivery carried out at the school.

Free defibrillator training and First Aid Training has been provided to a number of local communities/organisations. Myrick's own defibrillator is available for public use and remains located outside the Myrick building.

Green Dragon L2 Environmental Standard and Investors in People standard has been retained.

We successfully secured "Have a Go" careers inspire equipment from Welsh Government. This equipment is available for use by local schools and organisations. Montgomery Robotics Club have utilised 4 Lego Robotics kits for their Institute of Engineering & Technology National First Lego League Challenge Competition. We also built and provided 2 tables for their use.

We have supported Newtown High School with loan of Have A Go equipment, provided STEM sessions at local primary schools including Buttington Trewern "Inventors day" activities, Leighton "Maths Inspire Morning".

Sponsorship and support has been provided to a number of local organisations including sponsoring the Charity/Social Enterprise Award at Powys Business Awards, sponsoring the World Championships for Town Criers in Montgomery, and sponsoring the Rising Star award at Game Change Project Awards.

Merlin Smout of Invertek won the Partners Apprentice of the Year award at Coleg Cambria awards. Kieran Peel of Kiernan Steel was "Highly Commended" in the UK Metals Industry Apprentice of the Year Award.

Improvements continue to be made to the Myrick building with fluorescent lights replaced by LED lighting.

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities shows a net surplus from ordinary activities for the year of £36,670 (2024 surplus of £49,140) and reserves now stand at £519,511 (2024 £482,841).

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.

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 £256,034 (2024: £218,147).

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 our 2 existing providers for the new Work-Based Learning contract term. Including working with our contractors to understand and maximise the scope of MEDR who control all post-16 education within Wales, insuring we understand fully and recognise changes to working practices to be introduced by MEDR.

To further 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.

To develop our STEM delivery using the 'Have A Go' kits and continue to provide this to local schools.

To monitor and record the building efficiency improvements that have been made to the building that have included in recent years: LED lighting, solar panels, increased loft installation, new uPVC window frames and glass panels.

To re-purpose Myrick's downstairs 'BTEC Electronics' room to a usable Have A Go kit assembly/storage area.

To provide ongoing defibrillator training and support to local community groups.

To increase our nvq qualification provision to local companies, by offering installation and commissioning as an additional engineering pathway.

To increase our First Aid training provision to local companies by including accredited mental health courses to our delivery.

To ensure staff retirement(s) are planned for and carried out, allowing a smooth handover to new assessor(s).

To train an additional 2 members of staff to 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.

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 20 April 2026 and signed on its behalf by:

B N Murray - Trustee

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 2025.

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

20 April 2026

31.7.25

31.7.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

11,847

-

11,847

-

Charitable activities

4

Training

522,404

-

522,404

439,818

Investment income

3

1,002

-

1,002

1,124

Other income

3,360

-

3,360

3,360

Total

538,613

-

538,613

444,302

EXPENDITURE ON

Charitable activities

5

Training

501,943

-

501,943

395,162

NET INCOME

36,670

-

36,670

49,140

RECONCILIATION OF FUNDS

Total funds brought forward

482,841

-

482,841

433,701

TOTAL FUNDS CARRIED FORWARD

519,511

-

519,511

482,841

31.7.25

31.7.24

Notes

£

£

FIXED ASSETS

Tangible assets

12

263,477

264,694

Investments

13

-

-

263,477

264,694

CURRENT ASSETS

Debtors

14

39,908

46,058

Cash at bank and in hand

328,668

223,548

368,576

269,606

CREDITORS

Amounts falling due within one year

15

(111,923

)

(48,299

)

NET CURRENT ASSETS

256,653

221,307

TOTAL ASSETS LESS CURRENT LIABILITIES

520,130

486,001

CREDITORS

Amounts falling due after more than one year

16

(619

)

(3,160

)

NET ASSETS

519,511

482,841

FUNDS

19

Unrestricted funds

519,511

482,841

TOTAL FUNDS

519,511

482,841

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 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.

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 20 April 2026 and were signed on its behalf by:

B N Murray - Trustee

Cash flows from operating activities

Cash generated from operations

1

107,544

16,754

Interest paid

(471

)

(493

)

Net cash provided by operating activities

107,073

16,261

Cash flows from investing activities

Purchase of tangible fixed assets

(415

)

(8,110

)

Interest received

1,002

1,124

Net cash provided by/(used in) investing activities

587

(6,986

)

Cash flows from financing activities

Loan repayments in year

(2,540

)

(2,492

)

Net cash used in financing activities

(2,540

)

(2,492

)

Change in cash and cash equivalents in the reporting period

105,120

6,783

Cash and cash equivalents at the beginning of the reporting period

223,548

216,765

Cash and cash equivalents at the end of the reporting period

328,668

223,548

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.7.25

31.7.24

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

36,670

49,140

Adjustments for:

Depreciation charges

1,631

2,195

Interest received

(1,002

)

(1,124

)

Interest paid

471

493

Decrease/(increase) in debtors

6,150

(14,372

)

Increase/(decrease) in creditors

63,624

(19,578

)

Net cash provided by operations

107,544

16,754

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.24

Cash flow

At 31.7.25

£

£

£

Net cash

Cash at bank and in hand

223,548

105,120

328,668

223,548

105,120

328,668

Debt

Debts falling due within 1 year

(2,629

)

-

(2,629

)

Debts falling due after 1 year

(3,160

)

2,541

(619

)

(5,789

)

2,541

(3,248

)

Total

217,759

107,661

325,420

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.

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

-

25% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

25% on reducing balance

No depreciation is provided on freehold land.

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.

Investment in subsidiaries

Investment in subsidiaries are recorded at cost less impairment.

2.	DONATIONS AND LEGACIES

31.7.25

31.7.24

£

£

Donations

11,847

-

3.	INVESTMENT INCOME

31.7.25

31.7.24

£

£

Deposit account interest

1,002

1,124

4.	INCOME FROM CHARITABLE ACTIVITIES

31.7.25

31.7.24

Activity

£

£

Grants

Training

-

10,204

Training Income

Training

469,450

355,942

Courses

Training

52,954

73,672

522,404

439,818

Grants received, included in the above, are as follows:

31.7.25

31.7.24

£

£

Ecodyfi Wales

-

10,204

5.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 6)

note 7)

Totals

£

£

£

Training

460,295

41,648

501,943

6.	DIRECT COSTS OF CHARITABLE ACTIVITIES

31.7.25

31.7.24

£

£

Staff costs

237,872

193,152

Telephone

4,672

4,306

Stationery & Advertising

11,630

6,848

External Training Costs

188,848

135,257

Seminars & Staff Training

458

1,587

Travelling Expenses

1,101

1,575

Motor Servicing & Repairs

7,949

6,429

Postage

17

199

Motor Licence & Insurance

2,464

2,177

Subscriptions

5,284

1,558

460,295

353,088

7.	SUPPORT COSTS

Governance

Management

costs

Totals

£

£

£

Training

35,064

6,584

41,648

Support costs, included in the above, are as follows:

31.7.25

31.7.24

Total

Training

activities

£

£

Rates and water

1,917

1,709

Insurance

6,202

4,215

Light, heat & cleaning

4,987

7,090

Sundries

1,576

2,104

Renewal & Maintenance Expenses

5,304

6,241

Computer software and support

12,976

10,781

Depreciation of tangible and heritage assets

1,631

2,195

Interest payable and similar charges

471

493

Accountancy fees

3,654

2,606

Legal & professional fees

1,850

3,230

Independent examination fees

1,080

1,410

41,648

42,074

8.	NET INCOME/(EXPENDITURE)

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

31.7.25

31.7.24

£

£

Depreciation - owned assets

1,632

2,194

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.

10.	STAFF COSTS

31.7.25

31.7.24

£

£

Wages and salaries

217,217

178,974

Social security costs

14,246

8,524

Other pension costs

6,409

5,654

237,872

193,152

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

31.7.25

31.7.24

Direct charitable

7

7

Administration

2

2

9

9

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 2025 were £85,375 (2024 £73,192).

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Training

429,614

10,204

439,818

Investment income

1,124

-

1,124

Other income

3,360

-

3,360

Total

434,098

10,204

444,302

EXPENDITURE ON

Charitable activities

Training

392,627

2,535

395,162

NET INCOME

41,471

7,669

49,140

Transfers between funds

7,669

(7,669

)

-

Net movement in funds

49,140

-

49,140

RECONCILIATION OF FUNDS

Total funds brought forward

433,701

-

433,701

TOTAL FUNDS CARRIED FORWARD

482,841

-

482,841

12.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST OR VALUATION

At 1 August 2024

247,000

11,110

34,450

Additions

-

-

-

At 31 July 2025

247,000

11,110

34,450

DEPRECIATION

At 1 August 2024

-

-

33,463

Charge for year

-

-

234

At 31 July 2025

-

-

33,697

NET BOOK VALUE

At 31 July 2025

247,000

11,110

753

At 31 July 2024

247,000

11,110

987