REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
THE ERIC WRIGHT LEARNING FOUNDATION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
THE ERIC WRIGHT LEARNING FOUNDATION |
THE ERIC WRIGHT LEARNING FOUNDATION |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2022 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 8 |
THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198) |
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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Eric Wright Learning Foundation was opened in 2005 as an ambitious project to provide Preston, South Ribble and the Chorley areas with a vocational centre specialising in construction - and so open a construction industry career path for local young people 14+ who would previously have considered it unfeasible. |
To ensure that the opportunities provided address current educational and school requirements, the Learning Foundation relocated its skills provision to Preston's College in 2015. We now work in partnership with Preston's college and other schools/colleges to deliver three key objectives. |
Objective One - Inspire: Through our staff careers ambassador programme, provide advice support and guidance to learners, schools and parents to improve the knowledge and understanding of our industry. |
Objective Two - Skills: To provide skills and training to learners from 14+ years covering a wide curriculum through our partnership with Preston's college. |
Objective Three - Careers: Progression into work and the opportunity for the Eric Wright Group to support potential direct (or indirect) employees into meaningful careers. |
Public benefit |
The Trustees confirm that we have paid due regard to the Charity Commission guidance on public benefit reporting in deciding what activities the charity should undertake. |
The remainder of this Annual Report explains the charity's work during the year and how it has been carried out for the public benefit. |
ACHIEVEMENT AND PERFORMANCE |
In 2022 EWLF has supported 77 bursaries and 1 scholarship placement to allow students to study at Preston College and achieve GCSE and Btech in Construction and the Built Environment. We have supported Preston College staff in their transition to the T-level programme. |
Throughout 2021- 2022 we supported 53 live events in schools supporting 14,104 students. These meaningful engagements have enabled young people from ages 5-19 to learn about careers in construction and the built environment, exploring different roles. In partnership with two of our schools and RIBA, we successfully ran two "Think about Architecture" events, these enabled pupils and parents to learn about the pathway into that field. |
Some ambassadors are growing in confidence and are looking for creative ways to engage with students that better represent their own business area and roles. |
All teaching provision is being provided by Preston's College as part of our long-term partnering arrangements. |
FINANCIAL REVIEW |
Strategic Aim |
The strategic aim of the organisation is to continue to develop the Eric Wright Learning Foundation based in Preston's College, as a centre of excellence for vocational education and training in construction, providing a high quality learning environment in which learners can achieve the best possible results in their chosen course of study and realise their potential. |
Small Company Provisions |
This report has been prepared in accordance with the small companies regime under the Companies Act 2006. |
THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198) |
REPORT OF THE TRUSTEES |
for the Year Ended 31 August 2022 |
FINANCIAL REVIEW |
Financial Review |
The Statement of Financial Activities on page 5 shows £Nil for the year (2021 £Nil). |
Reserves Policy |
As noted above the teaching provision is now provided by Preston's college. The Foundation are committed to offering support for transport for the students and equipment if needed. This greatly reduces the expenditure required to be funded by the Foundation. |
The Foundation works closely with the Eric Wright Charitable Trust. Its annual budget is discussed with the trustees, who have indicated their willingness to support the projected level of expenditure. |
FUTURE PLANS |
Our objective is to improve the knowledge and understanding of our industry, not just for potential learners but also for schools and parents. We want to share our enthusiasm for the industry in that it can provide an exciting and fulfilling career opportunity and is open to a wide spectrum of academic and practical abilities. |
EWLF are able to support the creation of a 'real work environment' and assist in the learners' ultimate progression into employment. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, the Memorandum and Articles of Association of the Company, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Organisational structure |
The Charity was founded in 2005 and is registered with the Charity Commission under charity number 1111185. |
The Trustees, being also the Directors of the Company, attend the quarterly Board Meetings at which activities of the charity are reviewed, Financial Reports are analysed and strategy is set. |
In attendance at the meetings are the trustees and representatives from Preston's College. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198) |
REPORT OF THE TRUSTEES |
for the Year Ended 31 August 2022 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
Jane Dennis BA(Hons) FCA |
Fairhurst |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
Bankers |
PO Box 320 |
St. Ann Street |
Manchester |
Greater Manchester |
M60 2SS |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE ERIC WRIGHT LEARNING FOUNDATION |
Independent examiner's report to the trustees of The Eric Wright Learning Foundation ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
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. |
Independent examiner's statement |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts 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 accounts 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 accounts to be reached. |
Jane Dennis BA(Hons) FCA |
Fairhurst |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
24 May 2023 |
THE ERIC WRIGHT LEARNING FOUNDATION |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
for the Year Ended 31 August 2022 |
2022 | 2021 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 651 |
THE ERIC WRIGHT LEARNING FOUNDATION (REGISTERED NUMBER: 05536198) |
BALANCE SHEET |
31 August 2022 |
2022 | 2021 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 5 |
Unrestricted funds | 651 |
TOTAL FUNDS | 651 |
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 |
THE ERIC WRIGHT LEARNING FOUNDATION |
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. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Governance costs |
Governance costs include costs of the preparing and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. |
Operating leases |
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term. |
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. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2022 | 2021 |
Charitable activities |
THE ERIC WRIGHT LEARNING FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2022 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Accrued expenses |
5. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/9/21 | in funds | 31/8/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 651 | - | 651 |
TOTAL FUNDS | - | 651 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 53,300 | (53,300 | ) | - |
TOTAL FUNDS | ( |
) | - |
6. | RELATED PARTY DISCLOSURES |
Controlling entity |
The charity is under the control of the Trustee named in the Trustees report. |
Related party transactions |
Donations amounting to £53,300 (2021: £48,249) were received from the Eric Wright Charitable Trust. |
7. | MEMBERS' LIABILITY |
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. |