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 31st March 2023. 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).
The primary objects of WYMS as set out in its governing documents, are restricted specifically, only for the public benefit.
To provide facilities for and undertake and assist in the provision of industrial and commercial training; and, so far as may legitimately and conveniently be done as an adjunct to the carrying out of the foregoing objects,
To provide, equip and carry on training centres, workshops, libraries, lecture rooms or other facilities for training and education.
To provide appreciation and training courses classes and instruction of all sorts.
To provide advice and technical assistance for businesses and organisations in the carrying out by them of the training of their own employees and in the carrying out of mutual arrangements between two or more such businesses and/or organisations.
To work in conjunction with government bodies technical colleges and other educational or public authorities in the provision of industrial and commercial training or education.
The charity’s main activities during the year included:
Providing facilities for Calderdale College to deliver industrial and commercial training
Delivering community projects at Kirkdale House
Running awareness campaigns and educational workshops
Collaborating with local partners and stakeholders
All activities are undertaken to further the charity’s purposes for the public benefit, as required by law.
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
During the year, WYMS achieved several milestones:
Significantly strengthened Senior Management Team
Identified and recognised over 70 organisations as declared supporters
Collaborated with many companies and organisations being courted by West Yorkshire Combined Authority enhancing WYMS reputation as leading advocate for manufacturing industry
Launched a new initiative to create a Valve Centre of Excellence
Hosted a major event as part of National Manufacturing Day attracting significant local engagement
The trustees are pleased with the progress made and recognise the dedication of staff, volunteers, and supporters.
The charity’s total income for the year was £594,944 with expenditure totalling £587,005 The main sources of income were rent, room hire, program delivery and investment income. Expenditure was primarily directed towards programme delivery, staff costs, and core operating expenses.
At year-end, the charity held cash reserves of £2,687,902 in line with its reserves policy, which is regularly reviewed to ensure financial stability and sustainability.
Y/E 31/3/25 Y/E 31/3/24
INCOME £594,944 £510,772
EXPENDITURE (£587,005) (£513,889)
SURPLUS / (DEFICIT) £7,939 (£3,117)
CAPITAL £2,687,902 £2,679,963
Reserves policy
The trustees have established a reserves policy to maintain sufficient funds to cover essential operational costs and unforeseen contingencies. The target level of reserves is reviewed annually, taking into account the charity’s risk profile and future plans.
Looking ahead, WYMS plans to:
Expand service delivery to new areas and demographics
Increase income generation, identify and implement diverse income streams
Streamline processes to improve efficiency
Develop strategic partnerships to enhance reputation and maximise impact as champion of local manufacturing and manufacturers
Establish a Valve Centre of Excellence
The trustees remain committed to the charity’s mission and will continue to work towards achieving its objectives in the coming year.
Governing document
WYMS is a company limited by guarantee governed by its Articles of Association (the last variation of which was adopted on 4 December 2024) which outline the process for appointing trustees and managing the charity’s affairs. The board of trustees meets regularly to oversee activities, monitor compliance, and ensure the charity’s objectives are met.
New trustees are provided with training as necessary to fulfil their duties effectively. The board reviews governance arrangements annually to ensure continued good practice.
Risk management
The trustees maintain a risk register and regularly assess the principal risks facing the charity, including financial, operational, and reputational risks. Controls and mitigation strategies are in place, and the board is committed to ensuring the ongoing resilience of the organisation.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of West Yorkshire Manufacturing Services Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board of Trustees on 12 November 2025 and signed on its behalf by:
A M Denford - Chair of Trustees
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2025.
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.
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:
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 16 form part of these financial statements.
The notes on pages 8 to 16 form part of these financial statements.
The financial statements were approved by the Board of Trustees and authorised for issue on
The notes on pages 8 to 16 form part of these financial statements.
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, with the exception of investments which are included at market value.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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.
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.
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.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity 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 in the charity's balance sheet when the charity 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.
Basic financial assets, which include debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
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 property had previously been used for training directly given by the Charity. The property is now being let to a third party training provider. As the Charity is a public benefit entity, the Trustees have taken the decisions to account for the property under FRS102 s16.3a.
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.
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
There were no disclosable related party transactions during the year (2024 - none).
The charity had no material debt during the year.