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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2018 |
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VITAL PARTNERSHIPS LTD |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2018 |
for |
VITAL PARTNERSHIPS LTD |
VITAL PARTNERSHIPS LTD |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 AUGUST 2018 |
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Page |
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Reference and Administrative Details | 1 |
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Report of the Trustees | 2 to 4 |
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Statement of Financial Activities | 5 |
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Balance Sheet | 6 to 7 |
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Notes to the Financial Statements | 8 to 12 |
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VITAL PARTNERSHIPS LTD |
Reference and Administrative Details |
for the Year Ended 31 August 2018 |
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TRUSTEES | J R T H Hughes |
T J Bailey |
R Whitburn |
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REGISTERED OFFICE | Bath House |
6-8 Bath Street |
Redcliffe |
Bristol |
BS1 6HL |
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REGISTERED COMPANY NUMBER | 05180008 |
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REGISTERED CHARITY NUMBER | 11058505 |
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VITAL PARTNERSHIPS LTD |
Report of the Trustees |
FOR THE YEAR ENDED 31 AUGUST 2018 |
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August |
2018. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
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Reference and administrative details are shown in the schedule of trustees and professional advisers on page 1 of the |
financial statements. |
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DIRECTORS AND TRUSTEES |
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The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this |
report are collectively referred to as the trustees. |
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The trustees who served the company during the period were as follows: |
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Trevor Bailey |
John Hughes |
Richard Whitburn |
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The Board of Trustees presents its report and financial statements for the year ended 31 August 2018. Due to the |
Trustees' status as directors under the Companies Act 2006, this report constitutes a directors' report as required by |
section 415 of Companies Act 2006, and has been prepared taking advantage of the exemptions conferred by Part 15 |
of this act. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Vital Partnerships Limited is a company limited by guarantee governed by its Memorandum and Articles of |
Association dated 14 July 2004. It is registered as a charity with the Charity Commission. Membership of the charity |
is at the discretion of the trustees. |
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Appointment of Trustees |
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At each Annual General meeting one third of Trustees retire from office. Retiring trustees may be reappointed. New |
trustees must be recommended by trustees or be proposed by members. |
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Trustees have been appointed on the basis of the relevant expertise that they can bring to the board. All trustees have |
professional experience in management and leadership in various sectors of education, including primary, secondary, |
tertiary and professional qualifications. |
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Organisation |
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The Board of Trustees, which must be three or more, administers the charity. The Board meets at least three times per |
annum and more frequently if more opportunities arise or policy decisions are made. Two of the trustees have been |
given executive responsibilities to manage the day to day operations of the charity in conjunction with the Chairperson |
of the Board of Trustees. Other trustees provide support based on their professional expertise as necessary. |
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VITAL PARTNERSHIPS LTD |
Report of the Trustees |
FOR THE YEAR ENDED 31 AUGUST 2018 |
PURPOSE AND ACTIVITIES |
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Academic research and collaborative working leading to the establishment of Vital Partnerships as a charity in |
September 2004 had been carried out by Professor Patricia Broadfoot and Professor Guy Claxton working within the |
Graduate School of Education, University of Bristol. Professor Broadfoot is widely recognised for her work on |
educational assessment and Professor Claxon for his engagement with the community of interest in 'learning to learn'. |
Their collaboration was to determine what makes some people particularly effective lifelong learners, characterise |
those with such learning power and create a profiling instrument appropriate to the needs of an increasingly |
assessment driven education culture. Dr Ruth Deakin-Crick was the Graduate School's Research Fellow tasked with |
isolating the dimensions of learning power and creating a methodology appropriate to their application. The |
instrument resulting from this work is the Effective Lifetime Learning Inventory (ELLI). |
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The purposes of the charity are: |
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'to advance achievement and personal performance not only throughout the education sector but among |
disenfranchised and indigenous communities and those seeking both to improve their levels of engagement in their |
places of work and the enrichment of their daily lives; to inspire and create change; to encourage the adoption of |
learning for life and to provide for those who become learning enablers to better understand their role, to develop their |
own learning relationships and create the conditions in which individuals feel sufficiently confident to take |
responsibilities for their own learning'. |
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The vision that shapes our activities is ambitious. Our principal objectives are: |
• to create a learning culture within those communities and organisations whose lack of learning power is seriously |
depriving them of socioeconomic progress |
• to enhance the effectiveness of learners in schools, colleges, higher education, businesses and other organisations |
• to provide funds for further research into the dimensions of learning power |
• to adopt new research- validated instruments that resonate with our audience and add value to their learning |
journeys. |
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In the previous year, the trustees transferred a 51% share in the charity's trading company VPPS to The People Coop. |
Vital Partnerships retains two directorships on the VPPS Board and a comprehensive licence agreement governing the |
operation of VPPS and its use of the ELLI IP is in place. VPPS promotes the use of ELLI in schools, colleges, higher |
education institutions, charitable organisations and SMEs. VPPS has not yet made a return to the charity while it |
continues to stabilise and develop the business. |
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A second partner, Pathways to Learning (P2L), was identified and will market ELLI in the corporate sector, working |
under a sub-licence. P2L has not yet made a return to the charity while it continues to establish the business. However, |
both partners are expected to be able to return a revenue stream to the charity in due course, which will enable it to |
develop its work within the scope of its charitable objects. |
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As a consequence of the lack of income streams from VPPS and P2L over the last two years, the charity has focused |
solely on monitoring the two licensees activity. It is both the hope and expectation of the trustees that the charity will |
be able to re-engage in activity directed towards meeting its objects once revenue begins to be received. |
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FINANCIAL REVIEW, RESERVES AND RISK MANAGEMENT |
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Financial Review |
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The charity received no funding during the year and incurred no expenses. |
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At 31 August 2018 the charity had net liabilities of £16,145 of which (£28,525) was unrestricted funds and £12,380 |
was restricted funds. The charity is currently funded by loans from well-wishers which will be repaid as funds allow. |
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Reserves Policy |
VITAL PARTNERSHIPS LTD |
Report of the Trustees |
FOR THE YEAR ENDED 31 AUGUST 2018 |
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The charity has as yet been unable to build sufficient reserves to meet its objective to create a small surplus to cover |
three months' operating expenses. |
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Risk Management |
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The Board of Trustees confirms that it has identified and reviewed the major risks to which the charity is exposed and |
has, as far as it is able, established systems to mitigate these risks. The charity is registered under the Data Protection |
Act, has Professional Indemnity Insurance and follows health and safety regulations. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
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Company and Charitable Status |
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The company is limited by guarantee (registered number: 05180008) and governed by its Articles of Association. It is |
a charity registered with the Charity Commission (number 1105805) |
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The subsidiary company, Vital Partnership Professional Services Ltd (registration number 07612708) is similarly |
limited by guarantee. |
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Governance |
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The Board of Trustees is the custodian of the licence for the commercial and academic implementation of ELLI and |
licences that responsibility to its trading partner, Vital Partnerships Professional Services Ltd, which in turn provides, |
with trustees' approval, a sub-licence to Pathways to Learning. The Board of Trustees is responsible for setting the |
strategies and policies for the charity, its integrity and ensuring that its purposes are upheld. |
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Management and Staffing |
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The charity currently employs no staff and any day-to-day business is dealt with by the trustees. |
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Approved by order of the board of
trustees
on
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VITAL PARTNERSHIPS LTD |
Statement of Financial Activities |
FOR THE YEAR ENDED 31 AUGUST 2018 |
2018 | 2017 |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
RECONCILIATION OF FUNDS |
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Total funds brought forward |
( |
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( |
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( |
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TOTAL FUNDS CARRIED FORWARD |
( |
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( |
) | (16,145 | ) |
VITAL PARTNERSHIPS LTD |
Balance Sheet |
AT 31 AUGUST 2018 |
2018 | 2017 |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
( |
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( |
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( |
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NET CURRENT ASSETS/(LIABILITIES) |
( |
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( |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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( |
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( |
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CREDITORS |
Amounts falling due after more than one year | 8 |
( |
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( |
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( |
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NET ASSETS/(LIABILITIES) |
( |
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( |
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( |
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FUNDS | 10 |
Unrestricted funds | (28,525 | ) | (28,525 | ) |
Restricted funds |
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12,380 |
TOTAL FUNDS |
( |
) | (16,145 | ) |
VITAL PARTNERSHIPS LTD |
Balance Sheet - continued |
AT 31 AUGUST 2018 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 August 2018. |
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The members have not required the company to obtain an audit of its financial statements for the year ended |
31 August 2018 in accordance with Section 476 of the Companies Act 2006. |
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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. |
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These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies |
Act 2006 relating to charitable small companies. |
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The financial statements were approved by
the Board of
Trustees
on
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VITAL PARTNERSHIPS LTD |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 AUGUST 2018 |
1. | ACCOUNTING POLICIES |
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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 2015)', |
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. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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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. |
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Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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Investments |
Investments in associated companies is stated at cost. |
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Intangible fixed assets |
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This has been amortised in full as the amount of the future benefit to be received from the intellectual property |
is uncertain. |
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2. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the year ended 31 August 2018 nor for the year |
ended 31 August 2017 . |
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Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2018 nor for the year ended |
31 August 2017 . |
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3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
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EXPENDITURE ON |
NET INCOME |
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RECONCILIATION OF FUNDS |
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Total funds brought forward | (28,525 | ) | 12,380 | (16,145 | ) |
VITAL PARTNERSHIPS LTD |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2018 |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
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Unrestricted
fund |
Restricted
fund |
Total
funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | (28,525 | ) | 12,380 | (16,145 | ) |
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4. | INTANGIBLE FIXED ASSETS |
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Intellectual
Property |
£ |
COST |
At 1 September 2017 and 31 August 2018 |
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AMORTISATION |
At 1 September 2017 and 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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5. | FIXED ASSET INVESTMENTS |
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Shares in
group undertakings |
£ |
MARKET VALUE |
At 1 September 2017 and 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 | 1 |
At 31 August 2017 | 1 |
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There were no investment assets outside the UK. |
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The company's investments at the balance sheet date in the share capital of companies include the following: |
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VITAL PARTNERSHIPS LTD |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2018 |
5. | FIXED ASSET INVESTMENTS - continued |
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Registered office : 2 Devon Way, Longbridge, Birmingham, B31 2TS |
Nature of business : Educational skills |
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% |
Class of share: | holding |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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2018 | 2017 |
£ | £ |
Amounts owed by connected companies |
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Amounts owed to restricted funds | 12,380 | 12,380 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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2018 | 2017 |
£ | £ |
Other loans (see note 9) |
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Amounts owed by general funds |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
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2018 | 2017 |
£ | £ |
Other loans (see note 9) |
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15,738 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 5,213 | 5,213 |
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Amounts falling between one and two years: |
Other loans - 1-2 years |
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VITAL PARTNERSHIPS LTD |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2018 |
10. | MOVEMENT IN FUNDS |
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At 1.9.17 |
Net
movement in funds |
At 31.8.18 |
£ | £ | £ |
Unrestricted funds |
General fund | (28,525 | ) | - | (28,525 | ) |
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Restricted funds |
Ethical Leadership Project | 12,380 | - | 12,380 |
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TOTAL FUNDS |
( |
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Net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
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TOTAL FUNDS |
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- |
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Comparatives for movement in funds |
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At 1.9.16 |
Net
movement in funds |
At 31.8.17 |
£ | £ | £ |
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Unrestricted Funds |
General fund | (28,525 | ) | - | (28,525 | ) |
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Restricted Funds |
Ethical Leadership Project | 12,380 | - | 12,380 |
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TOTAL FUNDS | (16,145 | ) | - | (16,145 | ) |
Comparative net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
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TOTAL FUNDS | - | - | - |
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VITAL PARTNERSHIPS LTD |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2018 |
10. | MOVEMENT IN FUNDS - continued |
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A current year 12 months and prior year 12 months combined position is as follows: |
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At 1.9.16 |
Net
movement in funds |
At 31.8.18 |
£ | £ | £ |
Unrestricted funds |
General fund | (28,525 | ) | - | (28,525 | ) |
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Restricted funds |
Ethical Leadership Project | 12,380 | - | 12,380 |
TOTAL FUNDS | (16,145 | ) | - | (16,145 | ) |
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
TOTAL FUNDS | - | - | - |
11. | RELATED PARTY DISCLOSURES |
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There were no related party transactions for the year ended 31 August 2018. |
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