Registered number: 02674888
Charity number: 1007703
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
CONTENTS
ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
The Trustees submit their report together with the audited financial statements for the year ended 28 February 2026. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and the 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 (FRS102) (effective 1 January 2019).
Name and Registered Office of Charity
The name of the charity is Engineering Services Training Trust Limited. Its registered office is:
Old Mansion House, Eamont Bridge, Penrith, Cumbria, CA10 2BX
and its principal operating address is:
Rotherwick House, 3 Thomas More Street, Saint Katharine's & Wapping, London, E1W 1YZ.
Constitution and Registration
The charity was formed as a company limited by guarantee on 31 December 1991; is governed by the terms
of its Memorandum and Articles of Association; and is registered with the Charity Commission.
Name and Registered Office of Charity
The name of the charity is Engineering Services Training Trust Limited. Its registered office is:
Old Mansion House, Eamont Bridge, Penrith, Cumbria, CA10 2BX
and its principal operating address is:
Rotherwick House, 3 Thomas More Street, Saint Katharine's & Wapping, London, E1W 1YZ.
Constitution and Registration
The charity was formed as a company limited by guarantee on 31 December 1991; is governed by the terms
of its Memorandum and Articles of Association; and is registered with the Charity Commission.
Objectives and activities
The Trustees are satisfied that the reported or expected benefits of the funding the charity has provided meet their required success criteria.
Organisation of the Charity
The charity's operations are controlled by the Board of Trustees, responsible for the legal, statutory and financial obligations. In particular the Board is responsible for:
∙the overall control, monitoring and review of the policies, responsibilities and activities of the charity;
∙approval of specific quantifiable objectives in line with the aims of the charity;
∙approval of plans to meet objectives;
∙monitoring progress towards the objectives;
∙defining roles of operation in respect of financial procedures, controls and limits of authority; and
∙setting criteria and benchmarks for investment fund policies and management.
As the charity has no directly employed staff, support services are provided as required by The Building Engineering Services Association. In the opinion of the Trustees, the value of these services is not sufficiently material to require disclosure in the financial statements as a gift in kind.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
Objectives and activities (continued)
Trustees
M C James
S Chenia
L C Gillespie
R J Grant
The Trustees had no financial interest in either the charity or in any material contract during the year relating to the activities of the charity.
Key management personnel are deemed to be the Trustees. No Trustee receives any remuneration.
Investment Powers
The Memorandum and Articles of Association of the charity place no restrictions on the power of investment of the Trustees.
Risk Management
The Trustees are satisfied that internal risks, which could derive from the selection of projects or unauthorised bank payments have been minimised by the various policies, procedures and mandates which are in place and regularly reviewed.
The Trustees continue to assess the potential implications of the United Kingdom withdrawing from the European Union. Although there is an appreciation that there is a level of uncertainty associated with this, no significant direct implications are expected.
Reserves policy
The value of the Unrestricted General Fund at 28 February 2026 was £3,449,991 (2025: £3,045,566).
The Trustees' capital benchmark at 28 February 2026 was £3,049,761 (2025: £2,955,195). Reflecting a surplus of £404,425 (2025: surplus of £50,371).
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
(continued)
Review of Income and Expenditure
The charity’s principal funding source is the income which it receives from listed investments. At £117,190, the investment income received was similar to the previous year’s figure of £118,465. In the current year, the charity has provided funding of £108,150 (2025 - £240,483). The Charity provided £35,000 to the Building Engineering Services Association to support the world Skills competition in 2025 and 2026 and also funded £19,400 with BESA for training initiatives for young engineers. The Charity funded £39,750 for an LMI survey for the BSE sector and contributed £25,000 to support reviews of Apprenticeship Standards. A provision of £11,000 was released from the school’s engagement program as the scheme did not require the full grant funding. Taking into account the overall total of grants provided or authorised in the year resulting in net expenditure before investment activity of £8,626 for the year (2025 – net expenditure of £135,555). After a gain on investments of £410,432 (2025 – gain of £320,229) and interest of £2,619 (2025 - £4,546), there was a net increase in funds of £404,425 (2025 – £189,220).
Review of Developments and Future Prospects
Related parties
Public Benefit statement
Investments
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
Statement of Trustees' responsibilities
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
∙there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the charity's auditor is unaware, and
∙the Trustees, having made enquiries of fellow directors and the charity's auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Auditors
Armstrong Watson Audit Limited have expressed their willingness to continue in office. A resolution to reappoint them in accordance with Section 485 of the Companies Act 2006 will be put to the annual general meeting.
This report has been prepared in accordance with the Small Companies regime of the Companies Act 2006.
This report has been prepared in accordance with the Small Companies regime of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENGINEERING SERVICES TRAINING TRUST LIMITED
We have audited the financial statements of Engineering Services Training Trust Limited (the 'charitable company') for the year ended 28 February 2026 which comprise the Statement of financial activities, the Balance sheet, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENGINEERING SERVICES TRAINING TRUST LIMITED (CONTINUED)
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
∙the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
∙sufficient accounting records have not been kept; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙we have not received all the information and explanations we require for our audit.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENGINEERING SERVICES TRAINING TRUST LIMITED (CONTINUED)
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, such as the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental, health and safety legislation, as well as compliance with government bodies for the provision of apprenticeships.
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
∙reviewing the key areas of the financial statements most susceptible to fraud whilst tailoring our audit plans.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENGINEERING SERVICES TRAINING TRUST LIMITED (CONTINUED)
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates, such as the defined benefit pension and investment property valuations were indicative of potential bias;
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance;
∙enquiring of management as to actual and potential litigation and claims;
∙reviewing correspondence with HMRC and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Armstrong Watson Audit Limited
Chartered Accountants and Statutory Auditors
Chartered Accountants and Statutory Auditors
Carlisle
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 02674888
BALANCE SHEET
AS AT 28 FEBRUARY 2026
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 145 of the Charities Act 2011.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
Engineering Services Training Trust Limited ('the charity') is a charitable company limited by guarantee incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is:
Old Mansion House, Eamont Bridge, Penrith, Cumbria, CA10 2BX
and its principal place of operation:
Rotherwick House, 3 Thomas More Street, Saint Katharine's & Wapping, London, E1W 1YZ
The charity was established to promote and advance, for the public benefit, the education and training of persons employed or intending to be employed in building engineering services and related industries, in the UK and elsewhere. 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 its activities.
These financial statements have been presented in pound sterling which is the functional currency of the charity.
Old Mansion House, Eamont Bridge, Penrith, Cumbria, CA10 2BX
and its principal place of operation:
Rotherwick House, 3 Thomas More Street, Saint Katharine's & Wapping, London, E1W 1YZ
The charity was established to promote and advance, for the public benefit, the education and training of persons employed or intending to be employed in building engineering services and related industries, in the UK and elsewhere. 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 its activities.
These financial statements have been presented in pound sterling which is the functional currency of the charity.
2.Accounting policies
Companies Act 2006. Assets and liabilities are initially recognised at historical cost, as modified by the revaluation of investments to market value.
The financial statements have been prepared on a going concern basis. The Trustees, having considered the financial position of the charity for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the charity to continue as a going concern.
Accordingly, the Trustees have a reasonable expectation that the charity will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements.
Accordingly, the Trustees have a reasonable expectation that the charity will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements.
Investment income is included in the Statement of Financial Activities when it is declared by the investment manager. Bank interest is included in the Statement of Financial Activities on a receivable basis.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
Financial assets - classified as basic financial instruments
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.
Financial liabilities - classified as basic financial instruments
Other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.
In applying the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
8.Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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ENGINEERING SERVICES TRAINING TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
The charity is incorporated as a company limited by guarantee, having no share capital. In accordance with the Memorandum of Association, every member is liable to contribute a sum of £1 in the event of the company being wound up. At 28 February 2026 and 29 February 2025 there were two members as follows:
The Building Engineering Services Association, a registered trade and employers association operating in the United Kingdom. Certification office number 043/E.
B&ESA Limited, a company registered in England 00852809, The Company is the parent company of a group of companies who operate in the building services industry.
Consolidated accounts for both entities are available from Old Mansion House, Eamont Bridge, Penrith, Cumbria, CA10 2BX.
The Building Engineering Services Association, a registered trade and employers association operating in the United Kingdom. Certification office number 043/E.
B&ESA Limited, a company registered in England 00852809, The Company is the parent company of a group of companies who operate in the building services industry.
Consolidated accounts for both entities are available from Old Mansion House, Eamont Bridge, Penrith, Cumbria, CA10 2BX.
The Building Engineering Services Association (BESA) has the power to appoint six out of a maximum of eight Trustees.
The charity has no ultimate controlling party due to no individual having control over BESA.
The charity has no ultimate controlling party due to no individual having control over BESA.
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