REGISTERED NUMBER: 14823763 (England and Wales)

SOUTH YORKSHIRE INSTITUTE OF TECHNOLOGY

Financial Statements for the Year Ended 31 July 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J E Austin

D G Akeroyd

J Dreimann

A Foulkes

D M Lally

M J C McKervey

K S Mosley

J E Rees

D S Forrest

REGISTERED OFFICE:

Doncaster College, The Hub

Chappell Drive

Doncaster

DN1 2RF

REGISTERED NUMBER:

14823763 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Ryan Falls

AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

Unit 7 Dyehouse

Linen Green

Dungannon

Co. Tyrone

BT71 7HB

BANKERS:

Lloyds Bank PLCC

2nd Floor

14 Church Street

Sheffield

S1 2HP

SOLICITORS:

Eversheds Sutherland LLP

Bridgewater Place

Water Lane

Leeds

LS11 5DR

CURRENT ASSETS

Receivables

5

67,652

55,083

Cash at bank

5,687

47,537

73,339

102,620

PAYABLES

Amounts falling due within one year

6

(73,339

)

(102,620

)

TOTAL ASSETS LESS CURRENT LIABILITIES

-

-

RESERVES

-

-

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2026 and were signed on its behalf by:

J E Rees - Director

1.	STATUTORY INFORMATION

South Yorkshire Institute of Technology Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Doncaster College, The Hub, Chappell Drive, Doncaster, United Kingdom, DN1 2RF.

The company's principal purpose is that of promoting the advancement of education and skills training through designing, developing and widening participation in employer led further and higher technical education.

Principal Activity

The company was incorporated on 24th April 2023 with the principal purpose of promoting the advancement of education and skills training through designing, developing and widening participation in employer led further and higher technical education.

The four member organisations from incorporation were DN Colleges Group, Barnsley College, Sheffield Hallam University and The University of Sheffield, Advanced Manufacturing Research Centre. The members have been awarded a total combined grant of £14,759,677 the receipts and payments of which are managed by the company.

Sheffield College and RNN Group joined during the year as members however are not currently in receipt of any grant funding.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared on the going concern basis in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") including the provisions of Section 1A "Small Entities" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The directors are of the opinion that there is nothing to disclose.

Turnover

Turnover mainly consists of member contributions and grant funding.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting period.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Basic financial assets

Basic financial assets, which include amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors and loans from fellow group entities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Short term employment benefits

Short term employment benefits such as salaries and compensated absences (holiday pay) are recognised as an expense in the year in which the employees render service to the company.

The cost of any unused holiday entitlement the company expects to pay in future periods is recognised in the period the employees' services are rendered.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts would be shown within borrowings in current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

5.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

14,968

Amounts owed by participating interests

66,779

39,232

Other debtors

873

883

67,652

55,083

6.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade payables

1,667

-

Amounts owed to participating interests

40,735

96,620

Taxation and social security

3,083

-

Other payables

27,854

6,000

73,339

102,620

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Ryan Falls (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.