REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
VITAL PARTNERSHIPS LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
VITAL PARTNERSHIPS LTD |
VITAL PARTNERSHIPS LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 |
VITAL PARTNERSHIPS LTD |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
VITAL PARTNERSHIPS LTD (REGISTERED NUMBER: 05180008) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 AUGUST 2022 |
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 August 2022. 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). |
TRUSTEES |
The trustees who served during the period were as follows: |
Trevor Bailey |
James Rockey |
Philip Hygate |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Academic research and collaborative working led by Professors Patricia Broadfoot CBE and Guy Claxton within the Graduate School of Education, University of Bristol, culminated in the establishment of Vital Partnerships Ltd as a charity in September 2004. The objectives of their collaboration were to determine what makes some people more effective lifelong learners than others, to characterise those with strong 'learning power' and to create a profiling instrument and methodology appropriate to the wider application of learning techniques. The instrument resulting from the research team's work under Professor Broadfoot's guidance is the Effective Lifelong Learning Inventory (ELLI). |
The purposes of the charity are: |
" to advance personal achievement and performance not only throughout the education sector but among disenfranchised and indigenous communities and those seeking not only to improve their levels of engagement in the workplace but also to enrich their daily lives; |
" to inspire and create culture change; |
" to encourage the adoption of learning for life; and |
" to provide those who become learning enablers to better understand their role, develop their own learning relationships and create the conditions in which their students feel sufficiently confident to take responsibility for their own learning. |
Our principal objectives are ambitious: |
" to create a 'learning culture' within those communities and organisations whose lack of learning power is seriously impeding their socio-economic progress and leading to environmental destruction, political upheaval and humanitarian disaster; |
" to enhance the effectiveness of learners throughout the educational establishment, businesses, government and communities globally; |
" to generate funds for further research into the dimensions of learning power; |
" to adopt new research-validated instruments that resonate with our audiences and add value to their learning journeys |
Significant activities |
In 2011, Vital Partnerships Limited created a subsidiary trading company - Vital Partnerships Professional Services Ltd (VPPS), because the charity was limited in its ability to meet ELLI's trading opportunities.VPPS had been trading almost exclusively in the education sector. In 2015, with a requirement to update its technical platform, the charity sold 51% of its shares in VPPS to its technical partner, The People's Cooperative Ltd (TPCL). Disappointing trading results and lack of marketing endeavour led to both parties selling their shares to Pathways to Learning Ltd (P2L), which now holds the comprehensive license agreement to trade ELLI, protects its intellectual property and governs the operation of VPPS in all markets. Since 2015, P2L had been trading ELLI most particularly in the business and government market sectors. |
P2L's own consultancy and trading activities have been transferred into a more robust VPPS, which is expected to return a revenue stream to the charity in due course and so enable the charity to develop its work. |
VITAL PARTNERSHIPS LTD (REGISTERED NUMBER: 05180008) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FINANCIAL REVIEW |
Financial position |
The charity received no funding during the year and incurred no expenses. |
As a consequence of the lack of an income stream over recent years, the charity has focused on monitoring the activities of its licensees. Nonetheless, with the changes in the ownership and management of VPPS, it is the hope and expectation of the trustees that the charity will be able to re-engage in activities directed towards meeting its objectives. |
Reserves policy |
The charity has been unable to build sufficient reserves to create the small surplus that would enable it to cover its usual operating costs. |
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 (charity number 1105805). Membership of the charity is at the discretion of the trustees. |
Appointment of trustees |
At each annual general meeting, one third of the trustees retire from office. Retiring trustees may be reappointed. New trustees must be recommended by trustees or be proposed by members. |
Trustees have been appointed on the basis of the expertise that they can bring to the Board. All trustees have management and leadership experience across the educational establishment and offer extensive experience of the upholding of charitable values. |
Organisation |
The Board of Trustees, which must be three or more, administers the charity. The Board meets at least three times each year and more frequently should the necessity arise. Two of the trustees, including the Chairperson, have been given executive responsibilities for the management of day to day operations. The Trustees offer their support to the operating company when their professional expertise is called upon. |
The Board of Trustees is the custodian of the licence for the commercial and academic implementation of ELLI and licenses that responsibility to its trading partner Pathways to Learning Ltd. The Board of Trustees is responsible for setting the strategies and policies for the charity, its integrity and ensuring that its purposes are upheld. |
The charity had no employees in the year.. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Vital Partnerships Ltd 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. |
VITAL PARTNERSHIPS LTD (REGISTERED NUMBER: 05180008) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 AUGUST 2022 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
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. |
Approved by order of the board of trustees on |
VITAL PARTNERSHIPS LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 AUGUST 2022 |
2022 | 2021 |
Total | Total |
funds | funds |
Notes | £ | £ |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | - |
VITAL PARTNERSHIPS LTD (REGISTERED NUMBER: 05180008) |
BALANCE SHEET |
31 AUGUST 2022 |
2022 | 2021 |
Total | Total |
funds | funds |
Notes | £ | £ |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 3 |
TOTAL FUNDS | - |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 |
VITAL PARTNERSHIPS LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
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. |
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. |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021. |
3. | MOVEMENT IN FUNDS |
There were no movements in funds in the year or in the comparative year. |
4. | RELATED PARTY DISCLOSURES |