Career Connect
It inane cini Statenlcnts
1&'or
The Year Ended 31 March 20 I 6
Company Regis 1vatiou Number 4233289
Registered Charity ltu}ubcr Lt 4t677
axxym ma snW'rnruSChartered Accouutauis k. Statutory Auditor
St. CIcort;e's House
2 I 5 - 2 19 Chester RoadMauchcster
IVII ' 4.IL'
Cttrccu Cottucct
Idua nein t Sfatcuteuts
Year ftndcd 3t Inarch 2026
Contents Pages
Trustees Aon ad Report 2 to l6
Jndcpendeut Auditor's Rcport to lhe h4cntlm» 17 to 1 tt
Consolidated Statement of t'inancial Activities (incorporating tbcutcoine aud cxpcndi tote account)
Consolidated Balance Sheet
Coutpany Balance Nlieei
Caslt Flo'Iv Statcnt cut 22
Notes to the i'utancial Blaletucnts 23 to 40
Cttt'ccr Cottttcct
Trtls(cea Auntull Repurt
Year Lrudcd 3J. inarch 20Lgi
Thc trustees, vvho are ntso directors for the purposes of company httv, have picasluu in presenting their
report and lhc linancia! st el cmalts of the charity for lhe year coded 31 March 2016.
Rct'crcacc and Adutinis(rat tve Details
Registered Chari(y Name C neer Councct
Charity Registration Numbe!. 1141077
Con!puny Registration NumIIcr 42232g9
Rcgtstcrt d Office Slmad House21 Strand St!eetLiverpoolhtcrscys ice
Thc TrusteesThc trustees tvho srrvCd thC COmpany during the pet iod svcrC aa felt ntvs;
Mrs f3clxwuh Shack letoaMs Ameenn AhtucdMs Christine Bra!nohMs Su 13ramley
Mr Nigel ttefhltuy
ivls Lorraine DoddIVII' Marti!! IV!Cavan
Mr 13oy Gra!0Ml' Pctcl' M el'ganM!' Kl elan Got tlou
Ms Kath Wykc
Secretary
ChairAppointed 26 Juuc 20l5Appointed 24 April 2015Chair Audit and Risk Couuuigcc
Chair lmestnlent mrd ReuulnCraliOn COmmittee
Appointed 21 Augnst 2015Rcsipned 26 June 20!5Chief ExecutiveSl a if T!xl etcc
Mr David Its rtotv Resigned 24 June 2016Ms (Iit lian ilolyrvell Appointcll 24 June 2016
Auditor Bccvcr and StrnthersChartered Accountants k. Slaiulory AuditorSL Georgcvs House215 - 219 ('hester RondMancheslelM15 4JR
Ctt reer Cot& tree t
Trit«tees Att&&ital Rcport
Year' Kndc(l 31 IVI»reit 2010&
t»(&odiirtina froiu (he t.hair
In spite of a diAicult Aindinp year Career Connect continue«with it«original niission &vhich
coinmcnccd i» 2001, hccuuiiug a icgistcrcd Cliaiiiy iii April 201l. Tlic !.Iiariiy has cnntribuic&l
signilicnntly to the &veil-heing of young people and adults throughout Me& seyside, &lreater Manchestera»d oilmi. ames of !lie No&ih West ul'England. Thc uuu&hers ul you»g people and adults &vhn havebeen helped over fiAeen yeas into training, education and eniployment nms into thousands aud theoverall loug Icrm bc»util ou Iheir Aves is iuuueasuiabk«
Hu«vver, !hme is uo &foub! tha! the continuing impaci oi I'un&ling ic&luclious lies incviiably rcsiilicd iu
fewer rc«nuices heing available tn liclp mcct the challenpe faced by young people and adults in aniucrcasiugly &liEicul! «ocial aud economic uuvhumucul.
Oespite this» &vith coniinuing innovaiiou ia p&actius: au&I a commiIIcd aud flcaiblc &vorkforcc, IhcCharily has co!i(i»uc&l Io ac!iicvc our ohjcciivcs mill targe!« in a &vide range nf cn»t»&ct«and tn delivera fiist class ac&vice to young people and adults. In addition Ihe Charity has esiablishe&! au iu&puiiau!
coiilracinal mlatio»ship &vi(li Ma»ches!or Ciiy Council in Ihc delivery of its Targeted Youth Supportrvice and &vider relationships acrnss all 10 (I!eater Manchester local authorities; ihe Manchester
Couibi»ml Auihuri(y, Biruugli i(s succcssl'al Ic»dcr for a Riaupcan sociaI hive«hncnt Fund project
targeted at Nl '. I &T ynimp pcnp! c acmss thc arcs.
Thc kcy tn this «uccc«s ha«hccn ihc cA'ective deployment and n&»»age&neat of a committed and
professional &vnikfoice &vhich piovides an ongoing i ange of suppor! m&1 hupar! i»i ml vice aud guidance
lo help youiig pcoplc a»d adulls rcalisc their ambitions and potmitial. Thc inspiration nffemd l&y all
staff cannnt &cally be measured in financial terms; their work provides invahaible assistance lo Ihe
Ihuusauda ut' peoplu &viih &vhum ihcy co&ac iulo couiac!.
Bncouiaging results have continue&I Iu be achieved &vid& vulum able cliculs, hclphig Ihciii Io addi'ass
and ovc&&«»nc signilicani bmvicrs to migagcmcnt in Icarninp and work. I.essnns learned are shared
&vith a range of partners and stakeholdeis with &vhom the i.'hmiiy Iras continue&I io dcvch&p strong&vu&kiug rein!lou«hips al boih siraicgic and opcraiional kvcls.
We have continued to invest in «4Q dcvclupmeui; oflicicuily deploy rcsourccs io where need is
grcaicsl; and maintain a high lovel nf &Iuslity in «a«vice delis&y and outcomes. The operatingenvironment continues to be veiy challenging and it is encouiagiug thai many uf schools iu LiverpoolCity ivgiou and i»creasing»»mbcr ia Manchcstcr an&1 Salfo&d pmvhasc this service fiom us. '&Vhilst
substantially &cd»ccd i» financial &s&lue, Ca&ear Connect continues tn deliver services successf»IIy Ioa!I six Liverpool City &egin» local auihoriiics au&I has aiiracicil slg»iilicanf sooial i»vestment to hirihm.
support its &veri &vith yniing people vulnemble to underachievement and disengagement fu&in les&mug
and the lal&nur maiket.
lt remains the 'i'rostees priority to continue to seek additional sources ol'invest»&eut, so (haI as l»B aud
comprehensive a ra»go ul sci vices Io young pcoplc can bc fully tcinstatcd at thc earlier nppn&sunity.
Thc contract undenvritten by a 'Social investment Bond (SiB) to dehver suppor! to the mos! vutuc&»blc
young people has been veiy successful arid Ihc Chaniy has bcci& rnvardcd a iiiiiiibcl of commend«tin&usI'or iis wo&k in ibis area. In additinn, the Charity thrnngh its sul&sidimy, Achieve North West Couuect,nn&v deliveia a n&major contract Io »Be»dais iu the North Wash Other changes au&I opporiuiiiiics arcdetail&sI iu lhc Tiustccs Rcpori lollowing,
-2-
Career Cnrrrrcct
Trustees Antra»I Rcpr» 1
Year Ended 3i lVfarch 21116
'tVith Suclt a Challenging c»Vironmmtt in xvhich the Clrat ity is opetating. Ibc ExcC»liVC TCam contin»CS
to explore additional ways ol' fiuanciug attd dclivcri»g services, rvhilst rccopnising the miticnl need tonutintaiu Ilrc ltighrsf levels of l&rofcxsional stnndatds possible. Both &putlity of perl'onnancc a»drcI&ntation are essentia! to the ongoing credibility a»d sla»&iiag ol' Ihc Clmrity. Our rvndx extends tofeeding imtovalivc apt»Caches tn successf»I outcomes for clients as tvull as leveraging fiulhcrinvcstmcnt in the chnrity's mission.
J.ooking to Ihc future I knorv that we will coutiuur to Grec challenges and that xvc wil! rise to each ofthese iu huu aud succeed }n running Ihc business of the Charity for the people it serves. To do this rvc
have to thank nll onr staff who do such a mat volt»us job aud I also thank I'cllow Trustees for theirguidance and slipper'I tluougllo»t Blc peal'.
Dehors h SlmckletonChairBoats! of Trnstecs
Career Cot((tee(
'f res tees A nnuu(Raper�(
Year Ended 31 Mar& b 2((j G
Mission
Oul ulisslou is lo clnlblc yoitng people altd adults achieve theil le&In!iug Itin( work ailns by providiltg
timely, mlevant, up to date cmeers advice nid addiliotta! support, and suppoti their (&ansi((on iu(o
tui ((tcr (Catt(log and irork.
Yts(IIII and Vahics
Our vision is (o bc t&cogaiscd as an expert provider o( indepcudcui career siipport, which enables
individuals achieve their potential thtougb e&kmatioti, cmploymcnt and enterprise.
Oar values anilerpia everything wc &tn:
Client nccds are at the heart of all ive &fo;
~ We deliver qualily services, slrivhig lo "pct it right fimt time" lor clieuls;~ Wc aic ainbilious (o succccd, constantly seeking uupiovcmcn(s aiw! innovation thnt de(iver
bc!let' ol'I(cot'!ics;~ We ate a registered charily andsocia! enterprise thnt hivests aH i(s icsourccs in thc delivery
I'In! Oup&OVCBICI'll Ol SCI'Vices al'Id outcoules;
We have a telentless locus ou value for inoncy directing resoun:es into lion((inc scrv(cc;~ We work iu pat(ttcrship buildinp and developing irusiiug aud (icxib(c tie(works at a locnl,
regional and natinnal level tn I ca(isa shared goals;~ We have a strong psychologicsl cot&(rac( with our staff: we expec( a hi( 1'roin our staff and in
te(uru ivc iuvcsl in (heir development and leaniiog, providing a saic, c&piitahle and respectful
place ot'ivork;~ We deliver services ivbich o((br thc right support, nt ibe rigbi liuic and in thc right place for
cbcu(s
Ohjctdivern Ac(iviiies and Achievements thr thc 2015/1G Year
Objcchves
~ 'l'o ncbievc au opctulhig aurplvxs for the ye;n.
TO inCrCa Sc hirnover hy divers i fimit ion iulo uC&V SerV(ecs mid geogtnplrica( areas
~ Tn continue to provide imparlialcarccrs advice and guidnnce inio scboo(s and collages in the
ai&nts served~ To continue to reduce the n&onber oi'young people Nlil', T (Hot in Emp(oymctt(, education or
ttstining), in parlicuhtr (bc most vulnmnhle throughout the LA areas in ivhich ive are
cotulmsSIOIICd.~ To provide the Nations( Careers Smvicc in the l,iverpool City Rcgioit, J,ancashire and
Cheshire~ To COulimio tO build relationships with stutiegiC pa&tnCrs
Activities aad achicvcmeo(s
Operating Surplus and Diversification
Thc Charity successfully matutge&l auolbcr di Sicult year turning a budgeiml loss as a result of fia'ther
public expeadiiurc cu(s into a small tinancial sut plus a( year cod.
Career C(rtt §
Tmrstccs An&tool Rcport
Yea» Lriuled Sl IVlnrcb 20 I 6
During thc year lo March 20 l6 tbc Cliarity continued to i»inn&let its &vorkfo&cc in li&tc ivitli opciationnl
in&i»i&»ments and Ims also wnn a niunber nf contracts which has increased the wnrJÃorcc to some 3S2cniployccs. Thc budget for lbc coating y&nir provides I'un&la Ior iuvestmrui au&I wear» luokiug to buildon the success in 20I5/16 particularly in the (ireater Manchester region and in the development of'
Social Impact finn&I initiatives.
Tlirougli lhc uc&v shatcbdc pnih&eisbip &viib the pi ivate social Hiomu e sector since 20!0 the Charity isseeking to g&mv its influence on public policy by highlighting thc iuicccss of its hlc&v Ilnrivons
pi»guru&me. Wo&&ng &dosely with iuvesiois md finmicial intermediaries &ve aim to g&o&v theproportion nf social invcstmmit incnmc mid achieve positive o»!comes for thc clients wc smtvc as &vc
suuugnncously make n liunucial ieturu Iur our investors, which can he recyc. led into fun&re socin!I)rug&alii ines.
To iiicrcasc Hic Charily's prolilc uud shoivcasc our impact we have invested iu n piogrn&mue ofthmight capita! by I»v&d»ning convincinp analysis of nur inicccsscs tn g&o&v investment and high! ight
itic gco&ving iu:cds of thc people» c sei vo sud ihe potential sub&lions iu these needs. AHie&l iu this wehave invested in thc dcvclofuncnt of' s bc&poke (.RM systcui lo optimisc mistomcr rclationsliips,exist!l&g ilia! ne'lv.
%Var!& with Vo»ng People
fI»ring 2015/16 thc Charity was s»cccsshil in providinp, impartial cmv&ss a&lvicc and guidanceseivices io l2 I schools aiul cogeges across Ihe Live& pool City region mid Salfoid. 'I'he con&mela &vith
7 loca! (nnfiaritics &vere succcssliul iu dclivcriug all of lhc &c&i»he&I objectives in rcdlucbig lcvcls ol'NEL'T amongst young people and the young people's tincking services where applicable placedCarccr Couuccl aiuougst ihc host perl'ormcrs iu England iu tnms uf thc prop&utica ol'aH yointg peoplewhn werc a&gaged and &vhosc education or cinploymciil status &yves known mill verified, Thc Charity'sNew Horizons programme, a Social Impact Bond funded pioject targeted at the must vulnerable yoimgpcopk in thc Livcipool City icgiou h&ul;i succcsshil third and Qual year, &vgh the target case exceed&eland a perfornmnce bonus nchie&vd. 'I'he Nntinnnl Careers Service contract has pmved tn be verychagengiug &lue io the iebiiively poor linancin! ietuins per outcome achieved, Ibe uurelinble
technology &vc arc required lo usc an&I thc nmiiy changes tn service architccluiv, beyond thc ('.harity'sconti of.
Meusurement nf seivicc ingmct fncuses on the I»v&gressinn nf clients ns young people and adults move
into nnd through ihe lan&ning nnd Labour market to sustainable employment. I-landline ligures continueto in&licstc an improviiig sihmtion for young people age&i l6/(7, but lhc sihintion for older clientscontimies tn I&e difficult, &vith more than 50% of NEET young people aged I g+:
Thc rate nf yn»np, people aged I &i- III who were nnt in education, emplnyment nnd tinining (NEI,T)and the numbers not known deme& sed in each of the 3 locsl authority mens &vhen: Career Cuuuecl wns
commissioned to p&ovfdc an advice, migagcmmit mid tracking scrvicc cornparcd &vith ri~ing NPETfiguies in some of the other a&eris, where tracking services were tnken in-house by fossil nulhurilies.
hH ul' thc areas nrc above lhc national hIEET nvci»go ivHcctiug lho socio-ccuuo&nic challenges ol'
these inner City nrban aieas, but the gnp has nmro&ved in the areas where there has been a Nl', f(I'
I eductiol»
Career Crt ttttect
Trustccs Arutual Reltot&
Year Kuded 3I March 2016
~ 'I'lm lig&ttcs I'or participation in !naming iu&rcascd year nn year and werc above thc national
average in 2 mess a!»I equal lo Ihc ua(in!&a! nvemge in the third.~ Sue&ass iu actively hvtcl ing young people &vas»taiidaincd again despite reductions in fit»ding,
All 3 local authority areas had noi k&to&vn mtcs of more than balf ihc nal inn»I ave! age, placingI'an:er Cot»&cot's perl'onnancc in thc top quartile of English local authorities.
Tho situation for prio! ity fpoups; young people who face pa! Iirular barriers and are vufuembfo &vas
stabilised dcspilc ft»tttcr hrgc nits in Local Authority fundinp for this &vork laq&cly &hic to additional
i»vestment in thi& ann of &vot k via lbc Nc&v Horizons social impact bond. Thc Nmv I l orisons
p!ofp no!no '&vorksv!'ilh vogie!'ab!e )'oung fieople &vbo have lcarninp diKculties/disabilities, youngoft'cndcrs and care leave! s. Tbe!caulis over thc life of the 3 year progran»no which ended iu 2015sho&vs a major improvcmc»l in outcomes, when romp ncd with historic pe!furor»ace aad as measured
against a valid contml group:
~ 93%of Nc&v I lorizons clients (»=3324) &vere i» cd&!cation, employmeui or haining (ISL I') nn
completion compared &vith 58% in Veer I of the ping!ammo. Co»lrol gtvntp comparisons bad
a 54% (Live&pool City rcginn) and 7iy% (fhillo! &I) EET rate in 20!4/l5.~ 79% of No&v I lo! izons client sncoossl'ully achieved a Level 2 &fua)ilication in 2014/I 5, up fiotu
I I% h! 2011 (Year I). Cxuttrol gunip co!»pa!tao»a lu&d ui(cs ol 15 4% and 18.4% respectively.~ Tire rale of drnp out fiom les»ting and work I'or the Ne&v I loiizou cfic»I gro&tp dropped from
25% in Year I (20 I I) to l1% iu 20I4/IS (Yem' 3) aud feg lo 0% in the final 6 mouths ol' Ihc
0!Dg! ainu!a. ))iop oul an!o!'igst co!'itrni group cou!p&imlors &vm e 2(Y% aud l6% respectively in
2014/15.
I&»flowing on I'rOin IhC success of our first Social hnpact Bond Career Ca@»CCI ives successful i!'!
acquirinp, a second progt uiuuc supp»!ted hy Bridges Yeuk»us mid local If»using Associations
through their invesbucnl. Thc ncw programme, Unlocking Potential, builds upon thc work and
approach of' Now llorizons a!»i piovidcs a slightly wider riuigc of outcomes for iu&livi&l&rul
bcnofioiaries. 'I'his is the laqrcsi ol' Iho 4 Youth L'ngagemeul Fund SiBs apfnoved by the Dopa!%ment
for Work aud Pensions nationnlly and if suco&uslitf &vill deli&mr more thea Indi'of tho social invesimeut
OulCOmcs in the coimuy.
work ivitb a&1 alia
The N ttional Ca!cora Smvice continues io provi&lc face to face ca!ears advice and fpiidance lor »dulls
locally supp»!ted by a national Iolcpho»c hotpfine and the delivory ol' careers info!a»etio» aad advice
ac!vices to prisoners in !2 North 'tYest prisons. Cn&ccr Connect successfugy opcratcs these services
across ihc I.ivcqion! City Itegiou, Cbcshiic and South Lancashire. Career Connect negotial&xl rcalisfic
targets with the I'!ime Conhuclor and has performed io aoccplablc thre&holds in Ibc achicvcnient ofthese targets. Thc contract expected to en&I iu 2017.
Cttrccr Con fleet
cgrustees Annual Report
Year Ended 3d l(riot ch 2016
Other &vork with clients
O(lier no(uMc areas of &vork benefii(iug clients include snot!ter successful Meiseyside Higher(xi»cation Conference which pmvided more than l2,000 prospcc(ivc undergrad»a(cs ivith llu;
oppoi(unily lo nice( rq&rcsoiila(ives fro»i al! Bri(ish Uuiversi!ies oovering the fuII spec(rum ofunderginduate llniversity comscs. The fili (.nnfcroncc ives spell a((ended and ivdl received hy (hepeople ul(oadiag; il is (bo birgusl HE Conference in the Noith 33&es( ol'England.
In 20 (4/I 5 lhe Charity contimied i(s activily in the reachfnr joint venture social entei prise of ivhich it
(hc Charity ives a fou»dcr»tcn&bcr. Through &zaobfor (ho Churi(y has successfully Ie&l aud locallydeliveied the Dfg grant funded Empn&vering I&amilies pmject, ivhich suppoited fami! ies of childrcii&vi(h special c&luca(in&ail needs or &lisabili(ies. h& 20!4/(5 Career Coaneci inquired (he rights io thene&v psychometric careers tool, (.'arms, fiom rcachfnr, ivhcm thc Cluuity had (lio Iced rnlo iii
devoiupb&g (ho Iool. Tbo Churi(y hns eslaMishc&l a pai(nership with AQt(, CXK and fuspiia to u&arket
and scil thc f.'arros tool.
20l 5/(6 ivus Ihe foui(b year of tho Chari(y's puiilolio of cmeer sei vices (o schools mid colleges. 'I'he
schon(s' offer has been designed tn pr&&vide a mistomiscd service for cvm3 school or cnl!cgc, Thc(.'haiiiy's cong&rehensive prognlniiiie o! tl'ioiiglit leadership with loca! schools and colleges prepaiedand cnah(cd schools to comply svi(h (heir ate(»lory d»ty for cairn&u advice aad guidance follo&viuglegislative change. AAer a successful first three years the Charity nmintaincd contracts with ihcnrajuri(y of(ho schools cuvciud us well as iuciuasc cove&age lo schools iu uihur auras.
Relatinuships udth strategic par tucrs
The Charity works closely with the 6 Local Authorities nf the l,iverpnn! ('ity I(egin», Salford CityCouucil, Ma»ches(ca Ci!y Council aud pui(ucsu iu (bc Liverpool City Region Local Eu(o&3&rise
Parhicrship (I,EP) and Neiv l(connmy, the (ireater Manchester I,!.P, Thc changes in public hu&ding
nnd policy has meant that the Charily hus ivorked hard to maintain the. posilive working relationshipivi(h local aulhori(ics as (hcy came to (crins svi(h cu(s in funding and focus a((ca(ion on (iic nccds ofynung people whn need help in nuumging the transition finm school to s&hik and &vnrkinp !ife, I&rom
April 20(3 the Chcnily os!ah!!abc&i a voiy cffcchvo working and s(m(rgic re!a(in»ship ivilh Sallord('.i(y Coanci! nnd this relationship hss matured into an equally pnsitive wait'ing relationship across(ireater Manchester, parlicnhirly iviih Manchester City (.'ouucil mid its par(nein.
Tho Nations( Careers Service co»tinct positioned the ('Imrity as a key agency working with stmtogioIAU psrhiers acit&ss lhe Norlb Wos( ol'England; iuohidiug Mauchesier G&o&v!h Company as tbo priiueco»tine(or, Jobccntrc Plus, I lousing Associations, I'rison Gnvcrnoiu and Incal Probation Service~,
The Chari(y bus h(o&oaml ils cngagcmcn( wi(h employers mid has (argclc&l (his as an impor(ant areafor (br(her dcvcinpnmnt in the years ahead. 'I'he aim of this &verb is tn engage business hi improvingthe qiraliiy of careeis hdurum(iou io(o schools as well us supporiiug busiuoss iu a((mob re&sui( und
ivdain (aleut from (hc local svnitÃnrce.
20!5/l6 hus boon a lime ivhcn ihc (.hai'ity has cnhanccd i(s rc)a(!unship wi(h cc(tain coinmciuialparlncrs, tliis includes AQR I,td ivho are nur psychometric. test publisher partner of choice. Therelationship with Cunxrshox Li»(i(cd, our digilal iucdiu part»or, &vus increasingly &liff&c&il( asiuvos(i»cut aud loans failed to secure thc luisiness as a profitable cntmpriso. As a result CarccrCnnnect as majority sluueholder took action lo ivind up Caiueiabox on the Mix is thnt it was no longer n
viable going concern. Thc Charily has shrug(honed ils rclalionship &vi(h signilican( social iuvcstoiu,such as )3ridgcs Ventures and 13ig Sooiety Capital hank as we(l as lncnl I (nosing Associations who
Cut ocr Cottttect
Trustees Annual Rcport
Year Lrttded 3l March 201Ci
lmve invested in thc Charity's h!e&v I lorizun aiul Uidocking Pntentia! progr nnincs. Career Conucct has
siicngllicncd these ielntinnships lu gru&v snurces of i»venue 1'oi' iinporlantprojecis al a time wbmi
(invernment fundiug is rnlucing drastically for such work.
As n foumluig ummbcr nt thc Iteachfor Juuii Vc»tote Company, Ca&cur ('.nnnect hns phiyed a
sitptif&cm» rnlc &vitb paitners ia phiuning tnr the fuuire. A decision &vas taken to cAi:ctively !nit
Renchfor into a durum»I state, due to the lack of uppoilonitics for gto&vtb in llic national IAO uiarkek
The Charily lms continued to piovulc a siicccssfii! financial set vice lo three of iis partners: Adviza
Pnrtnei ship, CXK Linuic&l and Right Step Liniiknl ahhongh this has reduced &vill& thc closuie ol Right
Step in March 2016,
1'crfnrmnnce Summary 2015/1 6
Tlic tr»stces consider tluil Ihc performance for the year &vas vciy anti&factory turning a hndgete&l toss
into a n&udcs! opcmtinp, suiplns of some f75k bclnrc the release uf &633k provisions pieviuusly iield.
Tire pcrfnrmsnce reAects the increase in business, veiy light cost contr»! nnd guud performance on n
number of payumi» by icinilt contincts. 'tt&e large negative movemeni iu funds shown on page 19 ol'
!lie accounts is due entirely iu (lie negative movement ui pension st»plus of f2.33 inillion followbig
Aic application ol FRS 102. A full revaluation of all !lie liinds is cuuenlly being made as at 31 Maivh
2016 aud &vill bo known later in thu year.
Financial Rcvimv 2016/16Thc Cusntp faced considcmblc challcnpe during lhc year with the conliuuhig prcssure on public
finances and ihc aiistcrlly me»acies introduced by the current Cruvcrn»&c»t which luis htctcascd
demand for our services. Ibis has mean! a contimiing period opwagc restminl aud min(her year when
nn cost of living incivasc has been »Acid»hie lor staff. This ivmnins a major cliallcnge in the cumiug
year. Although Ihc Charity is conlidcnl that it wil! continue io provide the services my&iicd with
continuing innovation, diversity and financial coubul.
Wit!!st thc value of Invesliuenls fcl! durinp the year lhe Board believes that with ihc marginnl i»turns
nn liinds held in c rsh thc current Investment portfolio (ivvic&ved tlnougbout ihc year) will couth&un lo
pl»vide n bcHcl' I'ctill'n oval&ilk
(lroup Income 1'or iho year ended 31 Mnrch 2016 svas 613.261 minion ( 2014/15 f 11.676 util!ion) of&vhich g8.280 million (2014/13 X6.680 million) was achicvcd hy the (.'hariiy mid JCI,971 (2014/15
E4.990 million) fiom non charitable activities (principally its t&vo tin&ling subsidiaries).
Thc Gtottp spent f !2.738 million (2014/I 5 f 12.602 millinn) »Aer adjusiiug 1'or ihc Defined 1'a»sion
costs under FRS 102, nf &vhich 09.325 (2014/13 E7.&963 miHiou) was on charitable uclivilics.
ReservesAi 31 Match 2016 total unrestricted &cscrvcs were fA. 125 inil lion aAer taking account nf Ihe defined
pcnsinn scheme asset ol' f6 050 million which cau only bc utilised to ivducc lbc muployer conti ibuiion
to the Meiseysiik Pcnsinn Fund iu fat&ac ycarrs Iiree uni estrin(cd reserves ns defined by ihc Clue ity
Cnmmiss ion, aAer deducting the va!ue of tangible lixed assets hekl for ihc Charity's own use, were
63.7! million.
Thc Trustees believe thai thc Clua ity should ideally maintain minimum ivscrves nf bebveen six an&I
nine mouths noix»el running costs iii iho long term and during ibis period of considcmblc change and
chal! cnge up to bvelvc mnnths noun»i rmuiing costs. XVe will build up to ihc desired level in stages
consistent &vith ibc Clmrity's ovemA I)»social pnsitinn and &vill review the position on n regular l»isis,
Career Cot& tteef
Trustees A»uuul Rcpiirt
Yea( Ti', »&led gl March 2026
Thc Charity requi&es reseives to ntto&v ii tn tidfi! its charitable objcciivcs, obligations an&f the
cnmmiiments (lrai ii caters into. Rcaei ves are also r&x(»ill io eninuc continuance ol' iis objcciivcs and
opri a(iona in the cvmit of any unexpecbxl rcvmiue shortfall.
Fice icservcs ave defined by the Charily Commission as un&eshicied funds avaital&le to spend on the
gene&a! purposes o!'(he chary mxl thevefore exrludiog (hose designated for paiticular I»opuses au&I
(hose »heady utiliscd in puichasing (augiblc lixed assets.
Reserves are also &equi&ed to allow inveshiicid in new &vorking puieiicrs au&I dclivcry systems in the
light nf changing public fuu&luig &vgh thc move towards moic out!»i( related financing which &viII
place a grcatcr »(min oe the Cluu ity's cash flo&v.
Objectives 20 I f&JJ7
Thc main nim of ihe Chariiy is io imprnve the opporhnii(ics for adults and young peopk in atl (lie
area» ii is eoaimissinaed. 'I'his wilt co»(inuc In be achieved by in(on»a(ion, advice, guidance and
snpltn&t at the appiopris(c (i(tie helping all clients io p&svg&css iatn tiirther tmining or cn)ploy&»en(
&vheie po»sible.
Success will be j»dgc&l and cvnluated hy ihe a&dual ouicomes achieved and impacl. An incivasinp
number of co»as&et» me no&v pai&l ou aci»al i'csults measured by ihe eoniuiissinning nr funding agency.
In addition the Chari(y has a range of softer ou(come» ior (»ensuring progiession which arc used tbr
both interual aod cx(crnal peitnrmance inaaagcuicni
The Charity wilt couiiuuc in develop its Ca&ear Couucci otrer across Liverpool Ciiy rcginn, (ireater
Ivfauehes(cr mid tiirther nf&etd, whit»( sccking to innovate nnd euhaucc iis service offer geueraBy.
Wod' is continuing iu &Icvclnpinp our successf»I digiial support for schools which will allow
expansion beyond tradi(irma! logistical boun&I»rica. Cavecr Connect's successful bid into the Careeis
and fhiicrprise Iiund upended by ihc ncsv &.arcevs and bn(a&prise Cnmpany, estnblished by govcrmumg
in 20(5, &viII support ihc launch nf a ne&v carver» aud cn(crpvise progianm&e ae&txss mnm than d0
school» iu ihc f.ivcrpno! City region aud Gree(cr Manchester areas. This wil! bc snppnited by Career
Co(meet's new Caieeis and Eu(er((risc Coordinator role wldeh is co-hinded by Liveipool City rcginn
I,l.ip imd the Chari(y.
Thc Charity will also build oa its iislationship wi(h Social hivcstors and will inve»ligalc ncw f&inding
&ue(hogs alongside successful delivery models.
'I'he future coniiuucs io bc challenging and the Charity will contiime iis invr»(uicnt in its staff nnd ne&v
pr&xlue(s mid services. The Charily svtll build on i(s work &vt(h cniployeis to en»iuv. (hal Ihc
employment and skill» advice il gives to individuals i» boih motivational and relevau! tu ihc context oflncul nxl wider labour markets.
Pnlln&ving the forimilion nf a ne&v Subsidiaiy Company, Achieve bier(h Wc»i Connect and its success
in (cn&lcring for continued services across thc Hoith We»i ol' Fngland, the Charity now delivers a
contract with the Miuislry of Justice helping ex olfcudcrs intn employmeni nnd mcauinghil training'I'he i&e(uat coidract cnmmenced in July 20!5 fot(owing the imn»l'er ol'sta(t' t'rom the tlute Morih Weal
Comnuinity Rehabilitaiiou Companies.
Cttrccr C&3ttttcct
Trustees Annual Report
Veer Faded 3J March ZGJ6
Thr. pihmipal risks lacing the Clmrity arc; Thc oii-going nsluctiun in public finances; the rcalisaiiouof p&oject life cynics for &crlaui kuy coniuicts and the uncertainty nl' coin!)el!live icudcring ofcoutrsctrq the unknown as yet in&pacl nl' thc UK &lccisioa io leave the L'uropean llnion; and Ihecontinuing challciigc lo uuiiu(aiu a molivalcd &vorkfoice and retain and ic&vard lalcui. Ho&vever theBoard believes (fiat &vitli the current contracts aad Ihc financial stabi!ily of the oiganirration the Charilyshonld cnniinnc lo opcnilc viably ttuoughout the mirrent yern and intn thc future.
The cur&cut year's builgci anticipates a niodest sm plus which is an iinprnvcmcnl on lhc previous threeyoarih aud us described elsc&vhere in the &npn&t opcraliug perform&awe aa&iss all contracts is expectedto imnaiii posiliv&c
K&uptuyee Relations
The (.harily lies a compo:hens ive communication strategy tn cnqiloyccs iocl«&ling:
Au iuieus;tive hit& anet system &vith access olcchnnically lo ag pobcies and fnoceduies~ A svcckly c bric! to aH slalT~ A regulm schedule ol'(cern nicclings~ A set ies of Chief Executive brietings for all sia!1'~ An a&i&nial stalf conference~ (iood working relationship &v(B& Tmdc Uuious~ A shiB iepresentative on the Board ot'Trnstccs
'I'he Chaiity has n positive approach io pcoplc with disabilities 0&eluding help &vith job app! ications,facilitaliou at hite& views aud on-going support in individual &nlcs. This can i@chicle special equipment,specialist training and on-going s&ipporl f&o&u mauagers md te ims.
Slriichirc, Governance aud Mauagemenl
Ca&vcr Couuc&l is a registered charity (number I Id!077) and a company liudlcd by guarantee(number d2332II9) and is govm'ncd by ils Articles of Association dated 13 June 200! and amended bygpeeial 1(esolutiuns dated 22 September 2010, I I Ma&nb 20l land 24 April 2014. Career Connect hastwn svhnlly osvacd subsi&lumy compaoiers Achieve North West Connect I.imitcd and Ca&ocrConnections Limited.
( nve«'nng Body &'ecru!la&eat (riliullig &&oil performance
'I he Board of fthsx:lors is responsible loi the overall g&iveiimnce of the (.harity mid tn brh&g
independent judgement to hear nn issues of'strategy, perl'ormancc, rcsourccs aud stan&birds of conduct,Thc Board conduc(s iis b&isioess at a minimum of six meeting~ throughout tho year, rccciviog &ugular
and timely information on financial and npcratiorial lrcrfo&u&auce.
'I'here arc murcntly a total of Icu dhcclors &vho ieprescni a spread of experience and interests in (liefield &ve operate, and the Charity is looking to recruit hvthcr mcmbm's over lhc unxl 12 moulbih asappl'npl'&ate.
Polcutial dircclors arc i&leuiiTicd by partner organisations or saving directors and have lhc ucccssaiyskills, experience and cntlmsiasm to coinplmncnl lhc cuircul Board io ark!i&ion to those appointed byopou ad v&s i!semen(.
Each di&uctor will receive the Clue ity ('.ninmissioncrs Troslcc guide ivhich cove&a internet andcxlcmal nxluussuculsq Ibe !Joe&&I is idsn reviewing its mvn training nccds and pcr(oimauoc aud boih
Career Connect
Trustees Annual Report
%car Ten&lcd 3I NIarcl& 2010i
wil I bc addi essed iu Ihc cnming yea&.
'I'be Boa&st meets al least six times a year, snpplemenhxl by Audit and Risk and Invesuumd and
Remuneration Committee&c
Governing Bo&ly, Recm&itmcnt, Training and Perfurnuuice (continued)
Thc Board bas agrocd the leans of refemnce lor each cnmmihec eml has also agreed a policy ofDeletmtcd Anthorily tu lhc f&xecutive, &claining responsibility I'o r key strategic dccision&c 'I'luuugboul
ihc year the Board hns sc&utinise&l thc oporations of lbc Bxccutive, within this nutho& ily.
Thc Board bus a shong and indcpm&dent non-executive elemenb !vith no individual or group
dnminatiug ils decision making process. AH non-executive mmnbmn are considered independent ol
mmmgcment. 'I'be Board undertook a selt'-assessmeul on Trustee and boa&st performance during the
year &vhicb u&cludod a &evie&v by lhc Inte&nal Auditor and intervic&vs by the Chair!vilh all Men&bern.
'Ibis helped identify strengths and also areas fnr impnwancnt, although uo significant!vcakncsscs
&vere iden&it&cd.
Public Ben elit
'I'bc. Board confu!us that it has complied &vith the duly &u Section 17(5) ol' Iho Charities Acl 2011 tn
have dne regard lo the guidaucc issued by the Charily Comniissiuu on public beuef&t.
Tbc charitable pug!osc for the clmrily &vithin the. nu&aning of the Acl is enshrined &vilbin ils objects, ns
given in lbc a&cine&undue& aud articles of association, and as described in this n po&l,
The majority of activities undertaken by the Charily are for the public benefit m!d iochidc;
I'he delivery of relev mt up to date cmvers information, advice and guidance to adnlts and
young people according to individual aced~ Tbc nappe&i uf voh&orable an&I disadvantaged young people aud adu!ts to acbicvc their
potential~ 'I'bc suppoit of «dulls and ynung people fiom a wide uiugc ol'hackg& ouu&ls and circumstances
through their transition into further learning and &vork
Lxecut tvc Manager&&eat
Responsibility 1'or the planning, co-onlinntion aud day-to-day mauagmncnt of staff an(1 opei aliens is
delegnled lo an ltxeculivc leam of Dueclors Icd by the Cbicl' f&xecutive aud suppo&ted by a gcnior
I.ea&lcrship tean&. Fonual rape& ting by ihc Chief bxecutivc to the Board takes place ai regular Bom d
mcctings aud inl'ormnlly as nppropriate throughout the year. Tbc systems of coutml that are dcsigucd
to provide reasonable assurance regs&sling risk manngcu&cnl and against u&atcrial misslalcincnt or loss
u&
el�«do;
~ An unaired budget approved by the Bomd
~ Iiiiriucial rope&ra to every Board meeliug inch&ding forecasts against budget
~ Regular review ol' financial results, variance fonu budget and nou-linancial pe&foimance
Ind&entom anil &cport&
~ A clear dclcpation of aolhority and scgmgation of duties
~ ldc&gification aud management ol' risks, repoited ivgularly to Board and Audit and Risk
Committee
-11-
Ctt rccr Cott st cci
Trustees Annual Report
Year K»tleti 3t Mareft 2016
~ Regidat »wetiuta ol'the Audit and Risk and tlm htvestment and ttennnteration Connnillees~ A corn pmhenaivo 3 your h darnel Audit plan agreed by Ihe Boa td u»d delivered by ptv('.
Career Cottttcct
Trustees Annual Report
Year Lrttded 31 March 2016
Audit nnd Risk Conn»tttcc
'I'ke con)mitirc rontptiscs up lo I0»tcmbcrs, of tvhom thc majority mc nnn-executive memhetx of theftoatvl mtd also inc!udes the l'nmpany's htleruat Auditor (I'ricesvaterhuuscC»otxrs). Thc Chair aud
Chief Exec»Iive are atteu&kws bul »ot »tcmbcrs of Ihc Comntillcc. Thc I.ate»tel Auditnr attends asai1pl'oiu'iatc throughout the year nnd open dia/ogue is enroumged bet tveeu uou-executive ment hers aodthe Auditors.
'I'he committee meets at least lour tirucs a year und provides a l'orum for rcpotting by thc charily'scxlcntal a»&l intcrtral auditors, svhn have fai! independent access tu menthets. The couuuillcc alson:ceives reporls Irom other indeprndeul bodies as at)laopriatc.
The Internal Auditor monitotx the sysleurs ol iotertutl control, risk Iua»agCI'I'1CI'1( and guycl'nauCC
procedures iu accordance tvilh n» Annual Andil Plan, reporting their findings to the committee and to1»anagcmcnt, Thc Audit Phut is dratvn up in consukalion tvilh nt ntagemeul usiug a risk basedapprmrrh.
I'he contmittee tegular!y n:sieves the pdtsk register, ia patticokar Ihc potcnlial for ncrv rial's and thc.
CITectlveuess of Illorulol»)g Nt(l CO»teel aCtlo!'ls agfccd.
CN1'eel' Crt tt ttccf
Trustees Annual Repnrt
Yc» &. funded 31 t&&L»rch 2010&
Statmuc»t of Internal Control
'1 bc. Board bas &capo»sibilily I'or maintaining a good, sound! systc&n ol' internal cont&el that suppo& is lbe
achievement of Charity policies, anus au&I objcclivcs, whilst safegun&du&g ibc t&n&ds a»d assets of the
Cbnrily.
Tbe syslcmof internal control is designed to assess nnd a&a»age. rather than climb»&to risk. Jl can
lhcrctorc nnly pmvide &easonnble and uol abaci»lc ass»rance of effectiveness.
Ouc system ot'cnntrol is based on nn ou-going process designed to identify ibc pri»cipal risks to the
achieve&nant oi Chnri(y ni»&s m«1 objectives to evalunte !bc &rat&ac and ex%eat of those &isks a»d io
manage them ct'fcctively, eff&cieutly uud economically. Risk Mnnagmucul Policy and Strategy
continues to &eflecl the. cbu»gcs and el&a!la&pea facing the orgnuisnliot}.
The ltoard through the Audit Co&nmhlcc review the !tink Regislm during thc year and monito&
progress on lhc risks i&1cntilicd and the procedums u& place for identification an&I m na&gc&ncnl of risk,
The Agenda for the Bo«rd au&I ils ho&lit mu! Ris Committee i»du&les, as a slandinp item, the urea ofrisk mnuage&ucul &vhich is considmed on a &egulm bnsis lb&mugho»l thc year.
The i.'harity &aviews ils Risk management procedmas nnd processes on an ongning basis to casurc lb»i
ii is it( for purpose in the chm&giug opcrnlior&a! m&virnnment an&I is fuHy cmbc&idcd within the
organisation.
Any revie&v of the effectiveness of internal control is info»aud by &cgttlar reports from Charity's
inte&na! auditors au&I by lhc 1 inance and Corpou&te Services Director who is &vapo»sible lor Ihe
iulcgmlior& a»d implementation of Risk 1VJanagcmm&t,
'1 he Bores! &mcivcd a rcvie&v f&em the Con&puuy's h&lcrnal Auditors, V& ice&vnle&bo»scCoopcrs (!&WC),
svhich pave an ove&vie&v ou nll lhc ln(orna! Audits con&plated during thc year to Murch 20lf&. Sixreviews &vere completed during, the year with t&vo hnviug a high rial rating, two a medium risk rating
mt&I no»c being &»ted crit icnl.
1'WC n:po&t under lour categories of risk:
~ Critical
High~ Ivied &» &'!'& a&'ul
~ Lo&v
A high risk rating reilecls a liuding tl&nt cnuld huve a sig&uf&caut impact on operationnl performance,
f&unucial issues, brcach of laws and reg»b&iious or on rcp»tati»». '1'here &vm'c fm&r high risk f&ndh&gs
&elating to Contract Managemcal and Corporate &lover»ance aB oi' &vhich have been addressed nud
&cctif&ed
Cttt CCl COtt ttCCt
'Tt «stcca Au&trial Rcp or(
Vca& Rudcd 31 March 2U16
gtat&nucn t nf lutcrna I Con(& ol (cou(iuuml)
The overs(! conclusion of!!&c icvic&v was "Based on (he r& nrk coaiplctcd, wc believe thai (hase areisohited lo (he sys(ems nrid processes &cvicwcd aad when taken iu &iggr& ga(e, are nol cons(deredpervasive (o (he syrte&u of in(ernal as a whole",
ln addition the. ha(weal Auditor again found no material weaknesses in the Chai iiy's syslcins.
As m& importan( pari of ihe Risk &uanagcmcn( prncoss the Charity regulmdy revie&vs ils Safcg&iar&liug
I'olicy aud Procedures an(1 cnntim&cs to review its pmciice. lo ensure i(rat sialT a&v l«lly conversant
wl(h the changing requh en&eats «nd chaBcngcs of lbc job.
Risk bouge&heal
Risk is aii unco&(ain event, which may have a posiiive or negative clTcc( ori an orpm&isation meeting its
aim(egin objectives. Ris!' arisos as mock from the n&in-res(isa&lieu ol'poles(is! nppo&tunities as f&v»n
the occurrence ol pole»lie( (locals. T( is uot pnt»sible tn catircly eliminate risk.
The Charily has adopterl a cnm&nnu approach to (he murmgeuiea( of risk thrm&ghnut thc
orgauisa(ion. This sviII bc achieved via adhere&»:e io ihe risk mmiagcmcnl pmccdmvs,
'I'he Chmity wil! idenlify so&I »grec lhc!cvc! of risk exposure tlmt it &vil( tolerate. This is required lo:~ make clear wha( acti vi(ies the Churl(y (&vhc&c ll I&as a chnicc) will and wi(I not engage iu;
~help inform decision making;
shape corporate and other in&livi&hml slraicgics;
~ help inforn& business and siiaiegic p(a&»&big;
hc(p priorit isa the u»magemeu( aud rcpor(iug nf risks;
~ pi@actively review oppo&0ouily risk; a&id
assess the ris!' ui ising (rom lhe ue&v ac(ivilics and nppnrtumties.
1 he shove will be considc&vxi ia flic cori(cxt nf ovm all the Charily objectives.
The Charity sccks tn bc risk a&v&i&e «n(her (han risk avmse, L'veiy member ol' slalT, I'rom (lic
directors through linc uiansgcrs tn thc individual employee musl bc awaic ol' (lie nahuu of risk, nnd
lhe agrccd system of contra(,
Csrccr Cot) ttccf
Truslces A)t))ttal Report
Year truded 31 March 2016
MIsk Management (contloumI)
The Charity vvlH adopt a pru-acti) r upt))xu)ch Io ris1& managemcut rrhicb)anticipates tbe possibility dr)i unfu)execu cvcnks may adversely affect the achievemeui oi key
object ives; aml
nmximises the possibility thai opporiuuiiics are taken io progress all objectives.
'I'he risl nmnagement process is designed Io ensure thai potential nppo)tm)ities and threats a)eproactively aud syslcn)aticaIIy iden(IIicd, asscsscrl and add)essed. It also provides for Ihc monitoringnnd reporting of risk on an ongoing basis, and is capabk: ol indcpcndcnt verification.
1'en sinus
Thc group opcraics a nun)l)cr ot f)u)ded define&i-benefit pensiuu schc)nc and a mnney purchasescheme as the auto-en)oln)ent alta)native. . Thc cffcc( ol'cnn)pliance )vith I)RSI 02 is disclosed in Nolo
I 8 lo Ihc li)rancia! slate)ncnts, The annually calmdated notional surplus or dclioit nn thc funding of tbe
Schemes is shaven in the finanria! staten)eats us t) designated 0)ad entitled "I'ensions V)ovisiou",
)vlucf) is added or deducted I')o)n 11n)restricted Ir)a)ris in the balance sheet. hn FRS 17 calculation
carricrl nnt at 3 I Ma)ch 201f& sho)vs the ma)kei vah)c of Ihc assets nf the schemes to be
f90.603miiliou ru)d Ibc present value ol' Ihc liabilities i92.627 million. Thc nci surplus on il)c
Schemes ot' K6,06)6 million is a statement of the transient silualion at 31 Ivlarch 2016, snd the T) ustees
recognise that this cm) Auciuate year ou year notably in response to ma)ket 0)ciu) s aud Ihc aciluarfaI
aSSu)upliO0S )))ade.
Provisinu nf Iafermatioo to Auditors
liach of the persons )vho a)e T) usiccs ai Ihc li)nc )vhcn this 'I'rustees' )epu)t is approvcxl bas conti)v))cd
thai:
~ so fsr as thai Trusicc is a)vmc, thmc h no )a!event audit iul'oouaiion of' vvhich the grouph
auditors are. onavvnve, nnd
ibai T) usicc lras tal cn all the steps tlmt ought to have bccn taken hs a trnstcc in order to he
a)val'c of tu'!y h)fol'Inst)on I')ceded by tbe Cbt)rity s aluhtofs 0) cn!'u)act)on vvlth p)cpa)aug their
repo)! and io establish fha I lhc Cha rilyh m)dito) s a)c n)vme of the I iul'uuuai ion.
Cftrcct Cottttcet
Trustees Auuual Report
Year Et&dc&) 3l March 20)6
Responsibilities of the Ti'iis(ees
Thc Trustees (&vhn are also Dircctom nf Career Connect tor the piirposes of Compmy law) areresponsible loi p&eparh&g lhc Trustees' Ail»»id Rcpoi I m«l Ihc l)&&uncial slaici»cuts in accordance svitt&
applicable Ia&v and linilcrl Kingdom Accnunting Standards (Ilnited Kingdom (lenerally AcceptedAccounting 1'i act ice).
Comp my Ia&v re«tubes the trustees Io prepare liiu»icialslalcuicuis l'or each linmicial year &vhich p ivc atrue and fair vie&v of thc state of affairs of the chnritable company and the group and of!be incomingresources and applicatiou of resourceru h&ctudiug the income mt&I cxpciidilurc, of the charitable groupl'or thai period.
lu pcparing these tinancia! statements, thc. trustees are rc&pu)ed to:
select suitable accounting pnlicies and then apply them consistently;
obscrvc thc meth&«is and piinciples in the Clmrities SOkl';
mal'c jndgcmcnts nnd accounting estimates that are n:»sonable and piudenl;
state &vhether applicable ttK Accoimting Standards have be&»i fottu&ved, subject lo any uialcrialdepaitures disclosed and exptahted m 0«: lute»cia! state&»cuts;
prepare. the fur»i«;ial slalcmculs ou Ihc goiiig conccni basis unless it is inappropriate to presume
Iliai lhc gtoup &vil! conti»ac in opmution,
'I'he trustees aie responsible for keeping ado&tunic accoimting iucords that am sufficient to sho&v and
explain the group and charitable company's tiansactions and disclose &vilh &easouab)c accumcy al auytime the financial position of the group md euablu them lo cusurc dial Ihc financial siatmn&»its complywith lhc Coaipaiiics Aci 2006. They arc also responsible for safeguarding the assets of the charitable
company and hence fnr taking &casu»able slaps for Ihe prevcuiiou»u&l dc(ccliou ol' fimid and otherIHeglltaldlies.
Audi/orBeaver aud Strut! icrs are itccmcd to bo ic-appointcil tinder section d II7(2) of the Companies Acl 2006.
Signed by oiderol'Ihc Tr»slccs on 2g October 20 I 6
Ms Ctittian I toty&vett
Couipany Sccrctaiy
frulcI(en(let(t Auditor's Rcf»rrt to (he Me(»bors of Career Conner l
Vcuv 1?i(ded 3$ March 2016
8'e have &u«liicd the financial sia(cmcnis of C:rueer Connect (formerly Greater Sdemeyside
Conncxinns Pa&1nership) for lhc year ended 31 March 20(6 which comprise ihc fir»up Sin(unco( uf
I&inancud h&divilics, (hc Ciroup and (he J'a&un( f(e(ence Shee(s, thc Group (:ash Flo&v Slslcmcnt and the
role(cd notes. The lies»ciel rcpnrti»g fmme&vork (hai has been applied in their p&aper»((o» is
applicable lmv «nd (inited Kingdom hero»n(ing Standards (U»J(cd ICingdom Gcucrally Accepted
Accounting Ih act ice).
This report is »ra&le sokly in the clmritaMe co»&pm(y's members, as a bndy, in aecouiencc with
Glu&p(cr 3 of Par! If& of the Goo&pauics Ac( 2006. Our a&slit tvnrk has beau u(«(crtaken so iha( wc
mightstete to the cher((able con&pony's members (hose»»(tters we are rcqaimd to state lo (hem h& a»
audi(o&'s &cpo& I end for no other purpose. To ihc fullest exits(l permitted by hnv, &vc do not accept or
assume. &csponsibili(y lo anyone other then ihe clmriiahle company a»d the cheri(eb(c company's
members as a I«sdy, for nur audit &voiih i'or Ibis rc(«»t, or for ihc opininns &ve have i'ormcd,
Rvs(jrrlive Re»pons(bJIJ((cs uf Tr&ts(ees a»d Auditors
As explained morc fully in the 'I'mstees JCusponsibi(i(ice S(e(en&col sci nut on page l6, the trustees
(who a&c also the directors oi thc clmritablc company for the purposes of cnmpeny le&v) arc
rcspnnsihle for the p&cix»'al(on of the fine»cia! s(a(cmc»ts and for being sa(isfied (I»» ll&cy give a true
m&d fair view.
IVe have been appninted audi(or under Ihc Companies Acl 2006 and report iu accordance wi(h (his
Acl. Our rcsponsibili(y is (o audit and express au opinion on the fium(ciel s(»ten&en(s iu acconia»ce
with app(icablc Jew and inta»(etional Sic»der(ls on Auditing (UK end Ir:Jaud). Those ste&»buds
reguirc us tn comply wi(h (hc Auditing Practices Jt&um!'s I &thicel S( e«lard(a for Auditors.
Scope nf thc Audi( ol'(he Ti'I»a»clat St»tome»is
An audi( b&volvcs obtaining evidence eboul thc amo&aus aud disciosures iu (hc financis! stalemeuis
s»ff(cion( to give reas&mablc essnamce that (hc linenciel stalemcnls em free irom nmtcrial
miss(stamen(, &vhc(hcr em&sod hy f'reud or crmr, 'I'his h&cludcs en assess»&eui of: whether the
acruuuliug policics are epproluda(c io (hc gamp au&I d(c parent cl»uitablc company's ci&cuu(slm(ccs
a»d have been consisicufly applied end ada&I»e(ciy disclosed; the reasonableness ol.'
significen(
accounting cslhne(cs made by the truslccs; end the ovemll p&uscntatinn of (he JJ»»»cia( state&ucu(s. Jn
a&ldilion, (vc read all the f(»a»cia! end non-fi&uutcial information iu ihc Trustees' Auuual gal&nit to
(dc»tip materia! iuconsistcncies &vilh the audi(cd tinencial slahsncnts and to ideuiiTy end infornreiiou
thai i» apparently mateiie(Jy h(cor(cct based ou, or materially incousisicnl &vith the kno(vlcdge
ac&(aired hy us in the coarse of pelfr»n&ing (hc audit, If we hecou(c mvere of any appmvnt materiel
miss(a(cine»(s or inconsis(one ice wc co((sider the implireiious for our reporb
ludepeudeb( Audi(or's Report (o the Mentbers of Career Couuec( (cs»ti«&rsJ
Vcuv Fn&)c&( 3 t March 2016
Opinion os Financial S(slee&en(s
ln nnr opinion the financial statanaitic
~ give s tine snd fair vie&v of the state of the group's snd parent charitable company's affsbs as at
Sl IV)»rcb 20(6 su&I of ihc group's iacu»ii»g &cso»&ccs a»d spplicslioii of &csou&ccs lor (hc yearthen ended;
e have been pinperly pi ape&ed in accord mce &vith United Kingdom Cia»a&a((y AcceptedAcco»nling P&scficc; a&i&I
~ lieve bcc» Ir&cps&c&l in accordance with Ihc require»&cats of thc Companies Ac( 2006.
t)pinion na Otlicr Matter I'rcscr(bcd by thc Companies Act 2((06
In our opinion the infornration givvu iu the '('ruslecs' Ar»&ua( Rcpoit (i»ch«l(ug tbc Strategic Rcport)I'or Ihc (inancisl year for &vhich thc finis&cia! statements src pic(»&red is cnnsistait with the financialstate&neith»
Mn((ers us &vhivb we»i'&. Required (o Repov( by Rxrei)(ion
Wc have nothing tn vcpo&t in rcspcct of the fnllnxvisp matters &vhere the Companies Act 200fi &squires
lls tu let')ol I to Vol& if, ln oil& opt!&ion.'
~ the parent charitable company bas not kept adequate and s»Hicieat accouuliug rcco&r(s, or irlunrsadcquatc for our audit have not beat rcccivcd f&x»» branches nnt visited hy us; nr
~ lhc psrcu( c(tsri(ab(c coinp&»iy financial slalcmcnls src not in agrccmcnt with the accnuntingrecords and returns; or
catain disclosures nf trustees' remunei stion specified hy luw sie not m &de; cr
~ tvc lave not &cccivcd sll tlie infnrnistinn snd explanations we require for our sudib
Marts Ital(otvs (Senior S*itutory Asditov)Jia r&ur( on geArdf ofBeaver sad Stvu thereCbaite&x«I Accouulauis an&I Sfsioloiy Ai«litor
St ftcnrge's I louse2l 5-219 Chester RoadMs tie(ical cl'
M(5 AJAR
Cftrccr CI3tt ttcct
Con so 1pda led Balance tiheef
3l March 2016
et etc
201 &i 2015Restated
K
1'I ixc(l esse'ts:Intangible assetsTangible assetsInvestments
10
1112
57,792415,4253 526,3108
2 123 774 2 184 732
'I'otal fixed assetsCurrent assctsiDebtoi sIn v est men I s('.ash and cash cquimttents
Total ctirrent assetsT.tahiti(instCreditors: hnionnis I'ailing dnc ivi thin one yern
141315
16
2 539,199 2,7(38,932
2,490,I995,000
~1653 730
2,77:1,7285,000
938 571
4,148,929 3,717,299
82~27 4j50 ~2024 812
Iitet current assets ~1721 079 1,692,487
Total assets less current Habili ties 4,260,278 4,4161,419
('.rcditors: Amounts falling due aAer more Iiuui one.
year
Provisions for liabilities
Bet assets exchidiag pensimi asset
Defined benefit pension svheme asset
Total net assets
The fu»ds of the charity:Uurosh'iclcd liicoiiio fmids
17
23
L42 142)
~134 754 (668,27(3)
4,125,524 3,751,001
~6056 000 8,386 000
111 181 524 ~IL'I'~OI
Ill 181 524 12 137 001
Total charity Cauda 12 l37,0~I
'I'hase financial stalcmculs ivcrc apptovcd and signed by the members of the committee aiul authorised
for issue on ihc 28 October 201 t'&.
lvlr I&iota» (iordonDirector
Compnny kegistratiott Number: 4233289Registered Cltarity Bomber 1141077
3 hc»nteo na linens 33 tn 4O fnrnl part of thei8 financial stater»ento.
Career Ccttttccf
ICotnpuny Balance Sheet
3( March 201G
Fixed aasets:Tm)8iblc assets(nvestmenls
'I'otal Qxcd assetsCuts)cu( arse(s:Dei)tatshtvcsluicn(sCash nnd cash e0(oivatcttts
Nate
lt(2
201 8)
399,758~2I 23 778
2 523,536
1,950,5405,000
~]226 ti78
20 (5(testate&I
J
574,606cl
524,610
5,077,69 I
5,000299 Gl(5
Tntn! mtrrent assets
Lb)bib(les:Cretlitot te Auiouuls falling due within ouc year JG
3,218,582 5,382,33G
~3258 908 (69636,29),
He( cut rent ((iabiHtics)
Total esse(s less current Babtli(ies
Ptx)visions for liabilities
Net assc(s/(Itabi(((les) excluding pension esse(
Dclincd benefit pension schcntc asset
'l.'o(al ne( esse(s
The fan(la of the chari(y:Unteslricled ineamc ftinds
Tntal charity funds
18
23
~60321 ~1581293
134 754 3G7 676
2,'312,092 (1,424,359)
~6056 000 8 386 000
~Ni8 0622 ~h l,641
8~368 092 6,96 I 641
2 G~
2,446,846 (1,056,683)
Thcsc liirancial statemeuls )vore approved and si(9)ed by thc membeis ol'thc committee and aulhorisctl
for issue on lbe 28 October 2016.
Mr Kietuu Go)sionDhcctor
Company Registration Nun) hcr: 9(233289
Registered Charity Number l14 (077
The nates oa ()sees 22 ta 40 lsr)a part af the)0 fin aorist )tata)seat).
—2I—
Cgl col Cottltecf
Cunsoliilatcd Cash l&1osv Stntcmcut
Year l,ndei131 M&trch 20162016 2015
R cat a 1osl
Ciish Ao&vs from opera(hig as liviliesI&/et cask prnviiied I&y (used in) nperating acti vi ties 897,775 (2,632,895)
(:nsb flmvs fi mn invcsthig activitiesInte&est on investments
Perdu&se ol'property, plan( md equipnren!Pmcccds from the sale of property, plant and cquipiucnt
Disposal of subsidi ay
7,390(129,277)
2,499(49,339)
12,658(256,(&i)2)
%et ear/iinr&vided kg frssedin) investing «ctivities (168,727) (244,334)
Net increase/(dcc&case) in cash and casli equivalentsCash aud ciish eqnivnlents n( beginning of year
Cash and cash eqaivnlents at cud of year
729,048924,682
I,ti 53,73()
(2 877,229)3,801,911
924,682
Reconciliation nf ne( inenme/(expendituis) tn ne( cash flow I'rmn opera(ing ac(ivi(ies
7%et income/(e&rpendito&n) fm' the repm ting periorlAdjostiucnts for:f&cp&cciation of tangible assetsAinu& I&satin&i ol in(augible assetsLosses/(gal&is) o&1 liivcstinciilsIn tera,st receivedTa&oil&on
Pmisioii tii'laficc costDefined Henef&t Scheme oost less oonhdbutious payableLoss/(piolii) on disposal o('tangible assetsI.oss/(profit) on disposal of sul&sidiniy
Dec&case/(iimi'ense) iu Eieblois
lncrcasc/(dec rcaso) in crcdi(oin(Deciense)/increase in piovisions
2016
8(1,864,477)
231,990
60,958(7,390)
(11&163)(231,000)
2,470,0004,833
35,659256@84485,503
(533&522)
2015Restated
f(507,4 59)
'275,29025,896
(106,738)(12,f&58)
(3 12,000)(313,000)
(3LI6 135)( I, 171,834)
(164,257)
He( rash provided by (used in) operating activities 897,775 (2,632,895)
Analysis nt'cash and cash cquivalcnts
Casl! &it hi&ud
Ovcrdrag facility rcpayal&le on demand
CAsh iiu(( Casll Lrqulviilcuts
2016
1,653&730
1,653,730
2015Rcstatcd
938,571(!3,889)
924,682
-22-
I, Acculilltl lig P«I(ates
C(t reer Connect
Criusolida(ed Cash F)ow Sfaie»tet(I
Year I/tided 31 IVlarch 201 G
I'he princifai! ac«oint(iiig policies adopted, j«dbsatto»ts aiid key sources of cali«is(ion oncet tainty
hi lhc pre(rara(Ion of the finmic is! slnlcuicnls mn as fol!ows:
Basis nt' I'tspnratieuTlic (in«naia( statemenls have bce» prcparcd in accordance ivi(h Accounting mx! Reporting by
Chaiities: Stale»to»t of Recommended Viaclicc applicable to chniilies prc()«ring their net ou)ils iu
accoirlancc wah the I'inancial Repoil«ig Stanrlard applu:abk in thc (JK and Republic of Ireland
(IiR& 102) (effcclivc I .ianuaiy 2D(5) — (Cbarilics SORP (FRS 102)), (lie Finmicia! Repoiliug
Standard applicable in the. UK sail Republic of Irebux! (FR& 102) and the Companies Act 200fi,
Caieer Corn(col meals the definition of a public benefit enlily under I'RR 102. Assc(s a»d
liabililics arc initially mcsrbnuscsl al hisloiical or@st or trausaclion valne unless o(his&vise stated in
the relevant aocounling policy note(s).
ILeconciihttiori wi(b Innv(nus ((c»cr«IIy Accepted Aecnnutiug Practiceln pre!»iring thc accoii«ts, the trustees have co»sir(mad whether ui a(gilying the nccouuluig
policies iequuml by I RR 102 and the Chuitics SORP lilt& 102 lhc rvslalcmcnt of compn»itive
items was requhuil.
At the &!ale o('hniiailioa in applying lho rcqttlremcnt to reco~tisc liabilities arising Iroiu cmployco
bcucfils, a !i«hi! ity was recogttim1 tor shnit-teim compo»salcd absence nrisiug from cniplo)~entitlement ol'Ihc porc«( charity to paid auuual (cavo, 'I'he inilinl liabUi(y rccoipiised al the dale oflrausilion vvas fnr the holiilay cn(illcmcnt ca» ied forivaril mid for the enlil(etnc»I arisinp in the
year which was due b«l not ta! cn. 'I'he initial liabd&y was for f222,630. In accnrdance with thc
tequhutuca(s ol'FR& ID2 a recoucRia(lait of opening balances is provirlciL
Reconciliation of group (uriils anil balancesReset'ves
ils a(tra »sitimi
ilii(eI April 2014
X'000
gnrplus/((Icfiiil)
Year end ail
31 March2015
Reserves asa(
31 Marvh2015
@000
As previously statedMini'I-lcl'In colnliciitaikx! ilbscl'icos
Fund balances as n:stated
11,3(1,090 9&&,142 12,299,232~222, 610) 60399 (162,231'
11,08&,460 1,04&,541 12,137,00(
A chango in the tie;itmeu( o!' Iho defined benefit pc»sion scheme has resullcd in restatement ofsome prior ye'ir coaiparalives but this had uo clfcct on reset ves or aut)r! us / (deficit).
Piieparatimi of rite accounts on a going cmiccru basis'I'hc. fina»cia! s(ate ments have brea preps red on a going concern basis which assumes an ah i!ity to
con(innc opernting Ior Ibc foreseeable fulino. Tlimu are no material imcmtainties about. thc
charity's abiTi(y fo continue as a going concern and we conaiilcr it appropriate lo conilinuc to
prepare Ihc fin«nein! staleiuciga on a going co»cero basis.
-23
Accuan(iug Pnltctcs (reu&aa&r&&r
Cst reer Colt ttee (
Consoli&ia(ed Cash 1&love State»&cut
Vea& trudcd 3 I March 20i6
Grout& tiuaucinl shdnueats'I'he tpoup financial sta(en&m&(s consolidale ihe accoun(s nf Career Co»acct and al! iis s»bsi&limy
&au(at»kings &»»dc up Io 31 Ma&cb ascii veer.
A separate Sister»col of I'inancial Activi(ics and Income aud pxpcnditu&e arco»n( for the charity
hus nn( bccn presented, baca»sc the t&»stecs lu&vc (akcn ad&vu&(adam o!' (hc exemption affo&&le&i by
scc(ion r(0g of the Companies Act 2006.
tacomaIncome cuu&priscs n&ainly (p»u( and cont»&c( fuudbig l'nr projects f&ou& government aud o(bc&'
bodies. Additinnal incou&c arises from tmding income of subsidiaries, p&e&nisus incnme m&d
Interest received.
Inco»&c is iecoguis&xl &vhcn the chaiity l&as m&titlement io Ibc hinds, nny perfo»nance conditions
attached io Ihc item(s) of i»co&»c have been mrl, il is pml&able (hai Uic iiicnme &viH hc»cccivcd
aud (hc amount mm bc mess»red i eliably.
h&cuuuc tiom goveriuucal and other g& mts is &xx'.ognised when Uic charity h&&s eu(illcmcnt tn the
U&i»ls, any parfum&ance cnnditioas i&((ached to the. gu&uis liavc been mei, i( is pinhable th«( Ihe
incoiue &vill bc received au&I Ihc amnimt can bc incasured re!i&&bty and is nnt defm&e&l. Incnme
rcccivcd in advance for provision ol spcciTicd seix ices is dctcrml until the criteria fnr income
recognit inn urc u&ct (see note 20).
V»I u a lee&&s
In xenon!ance &vith Is!&.S i02 and the Chari(ies SORP (I&i&S l02), thc ccnnoauc cou(ributinn ofgeneral vnlunteers is uo( recognised in ihc accounts.
Iiuud AccourdiagUnrestricted funds con&p& ise acr»mule(cd s»rph&s and dciicils on geneml fuu&ls that a&e avaih&blc
for use a(. thc disc&etio» of lbc Irostces in furibemncc of the genemt objectives of the Cimrity and
thai have nnt beau dcsignatcd for oibcr purposes. Restricted f&a&ds are subject to special
conditions iiuposcd l&y the donor.
Expend I (u relixpendi!uic is rccopnised once thcrc is a Ieg,&I or constructive obligalion to make a payment tn a
third pa& ly, it is p&obabtc (hat scttlemeni &vi! I bc rc&p&ired aud (hc amnunt of ihe obligation cm& be
mcusnred ieliably. P.xpendit&ae is ctassttied under ihc i'o!Iowh&g activi(y bc»ding&»&
Cos(s of chari(able activities a»: coals in f0&the&ru&ce of (hc charity's objec!s rdating to
the piovision of the Cnnnexious Service and exlcfi&al tmining progm&m»cs.
~ Cos(s of con&meiuial tmding nperalious ivprcsent the cos!s ol'thc Charily's subsidiaries,
Career Cnnncc(iona and Achieve North West. Pm(her details are pmsm&lcd in Note 25
of (h» accounts.~ Ogicr costs incluik Iina»ce costs b& icspcct of the de!i»cd bmictit pension scheme.
,'hipporl cosmos arc those I'uuctions that assist the &vork of the chari(y lx&t dn nnt dimcUy undertal e
char!(able activities. Support costs include head office oos(s, payrnll, IT, HK aud suppnrt sta(T.
(I»ver»ance costs a&u (hose &elating to the Charily itself, nol ils objects and b&ch&dc external
a»&li(, any legal a&lvicc for the Tr»aloes and m&y costs ass»cia(e&t &viU& complying with
constitutional and statutoiy &cqu(rcn&eats e.g. thc costs of Tuistccs meetings au&I p&cparlng
stat»in& y scen'&u&ts.
Cttrccr Cot[[ice(
Consolidated Cash Fiosv Staten[cut
Year fcndc&t 3E March 20461, A«ouniiug J'olieiesa &lair i!)
Fixed Arse[aTnngible tixed assets are slated al historical cos[ less dep[eeiation and any impairtnent.Depreciation is ebs[go&[ on lixed assets in order tn svrite off'ihe cost of a[& asset, less i[s estimatedrasi&hial value, over tlie oseliul ccoiiomie lifo of tlu&[ asset on a st[night line basis us fbllo&vs:
E&.piipmentFixtures k Pi[[bigsLeasehold Pmperty
36 aud 60 moiiibsdg months
Over lhe shoiler of the lease period and 5 ycaiu
Jnv est me a tsIiixed asset invcsimcnis are a fouu oi'basic linancial in.strument an&i arc initially rccogaised at[heir imniuictinn value and suhseqiienlly mcasuin&l al their fau value ns at the balance sheet dakusing the closing &[noted market price. 'l'he statement nf linancial activi(ics includes ihe ue! gainsand tosses arising nn revaluation a&id disposals throughout tbe yeai.
Cue ant asset investmmits are staled al lhc loivcr oi cost mid net [ealisnble vahie,
DebtorsTrn&lc a[id other debtors me [eeognised nt thc sclllcmcn( «inouui due aAer imy tin&le discountott'cred. Prcpaymciiis are vahied at the an&aunt prepaid net ot any tmde &tiscouu[s due.
Cash at bank an&I in handCash at han! and in hand iiiclii&lcs cash aud abois teim highly liquid investmmits sv[th a shot[mahirily of [luce months or less finis the date of acquisition.
Crcdl toia:tiul Prov[9'I airsCreditors and provisions are recognised &vhen the charity has a prcscnt oMigaliou ivsuhiug fi.nma past event and &vhere the amount of lhc obligation eau be. reliably estiniated. Crerbtnrs midprovisions are normally [ecngnised at their sclllcnimit a[noun[ aAer al[o&vhsg for any tradedisco&inta duc.
Finn nciai instruments'the charity only has financial assets and Aiianciai liabiiiiies oi a kind that qualify ns basiciiimnCinl insiiumenis. Basic financial instrumcnm arC initially &Ceegniaed ai transaction value andsulxseqnently mcasnrvxl al lbir value.
-25-
Carccr Co)it)cct
Cor)snlida(ed Cash lrlosv &it»ten)euf
Year Lrudixl 3I March 20IGAccouutiag Policies (iv)srs))&vt)
Vcusiou CostsThe cluuity opemtes n defined benegt pension scheme for employees. The esse(s ol'(lic schemeair hckl scpa)u(ciy f)o») (l)osc nf thc chari(y.
Curmn( seiviou eos(s, pas( service cos(s a)id gait)s and losses on scttlcnimits and curtailments aiecharger! to appropriate iesnurces expended categories in the sta(eiueul of liu u)eial ac(ivi(ics. Pas(sei vice costs are recognised over ihc vcs(i»g period or immixliatcly if'(hc bmietits have vested,IVhcn a settle)ucnt (eliminating all obligations for benefits already )ccruc&l) or a cur(ailmeni
0edueing future obtigi)(ious ns a resuh ol a u)a(uriel irductioii hi (hc sdicmc inmnhmdiip ol' arrxkic(ion in ibh)rc mititlcmcnt) ocmim, the obligation and rebited pl m isseis aie remeasured
using mirrent actuarial assuinptions mid the resubmit gain or loss is rocoguissxl in (hc s(a(cmoi)( ofim u)cia l aelivi(ics durii)g thc pcriorl in svhich the sc(t(cmcnt or chas))i!ment ocul)Is.
Tbc b))crest cos( an&I 0)c cxpcc(ed re(nrn nn assets nrc shnrvn as n net amount as other financecosts or income. Net pension finance costs aie aBoca(c&f lo appropria(c rcsou)ccs cxpcndcdcategories lu (he s! itciniul( of f)I!uncial ae(ivtdos. Nc( pension finance income is iecognised as an
incoming resource in the statement of f)nunc!at activities. hc(»ariel gaius aud k)sscs iuu
rcco(p)ised irniuediaiely as other rceogiiiscd gains m)d losses in thc staten)ent of fiuancia!a&(ivi(ics.
Pc»sin» scheme assets src valued at fair value nt the hahuice sheet di)te. Fair value is based ou
market price info»nation and in the case of &(noted sceuri(ics is 0)c published bid price, pension
scheme liabilities a)e u)casuivd o» an actuarial basis using the projected unit method aud aiediscounted to their p)ascot value using a mte c&(uivaten( io (hc cuircu( rale nf rctmu on a high
quali(y corpoia(e bond of cquivulcu( currency ai)d term (o thc scheme liabilities. 'I'he pension
ache»)c surplus (tn (he cxta)t that it can be recoveicd) is )ecogniscd in lug uu ihc bah»ice shee(,nct nf )cdated deferred tax.
Opcratiug Lease Agree)ac»(sRent»!s applicable to opemtiug leases )vheisc subskaa(ially a(1 nf thc benefits and risks ofo)vuership rc)us in )vith (hc lcssnr w c diargcd to the income and expen&bture accouu( ou a s(mighl
linc I»isis over the period of the lease
TnxatinuCareer Connect is exempt fium coipouitiou (ax ou its chari(able activities under the available
piovisious ol'ihc Co)porn(inn Tm Act 2010,
For Achieve Nor(h Wcs( Co»eccl Lb»i(cd and Carccr Connections l,imited pn)vision is ma&le aicu)svu)( mtcs of taxation dcfcrrcd in respect of a!I material timing &lifferences except to (hc cx(cu(that, in the ophiion of the Di)actors, (beie is ra»so))abk probability (i»it thc liability )ail! not arise
in the luivsecablc ill(life.
The trading subsidh)dcs undcrlakc (o GiB Aii! pmf)hs to the extent that the Oiiecto)s ol' the
subsidh)y judge that they do»ot need to be retained in the business.
Career CCrtttteei
consolidated Cash lilotv statemeut
Year fi,ndcd 31 March 20I62. lacorning Re»nuns» froni Charitable Activities
OOic incnino
Othe& uicoiuePart ncr contr i bc ti onSchooh'colleges iucoincAdvice slid guidance irlcolne'I'nuning inconieSkills funding agency incoraeTl'»I&hug nicoliie
Lee»1 Sttlltnrfty lllconie
Gift nid donation
Unrest vi c.tedI' rind»
44,268,f171
75,509
Total I'nnd»2016
4,268,87I75I5t)9
44, 1722,5C)1,4 ti 1
194,2071,49G
44,1722,56I,461
194,2071,496
I,I33,6I2 1,133,ti 12
1'otal Pun ds
2015
4, 122,90492,058
4,925l,067,397
1!,3 12
2!2,0481,167,706
2,780
tt/79, 328 8,279,328 6,681,l30
3. Invcs(rueut laconic
Bank inteie»t receivableOther inicrcst rcccivalile
Unrcs(rh ted1' trod»
3I,38G
6,004
7,390
Tntal Vnnds2016
1 Pgfi6,004
7390
Total frond»
2015
11,5151,143
12,65R
4, Other 1 accruing Re»our'ces
Prvniises lucoutc
Unre»ti ietcdfraud»
82,028
82,028
'1'otni I'unde201CiR
82,028
ft2,112ff
Tots! 11sids2015
2CI,205
2ti, 205
-27
Carccr Corrttccf
fifo(cx (o the Financial S(a(erueufa
Year Li'uded 31 March 2016
Costs af Char4tahfc Activities
'rVagcs aod Salarieslimp(ayers h(ICI'ens ion costsRcdnndanoy and ex-gratiaOther ino(or/(i ave( costsTcicphonc and IT cissts
Difapidatlolu and onerolls fossesOther of(icc costsAgency and seconifment costsltecilliunelll costs(xrss on i(ispnsa! of fixed assetsTraining and devefopmcnt
frcprccla(l oil
Onvernance costs
Uures(r'ic(edFunds
g6,622487
46i6i455
1,988,9232f4,655168,832565,490
(156,317)1,425489
31812,8504)552
58,560227,9965f i408
1 (,651,498
To(al Frrads2(H 64
6,622,3874G6,455
1,988,923214,6551G8,832565,490
(156,317)1,425,389
3181.2,8504,552
58,56(I227,996
51,408
11,(i51,498
I'ots I I'und s2015
5 997 807438, (04
21, 17687,710
150,235446,730(Gi 1,301)497,332
6,5769,338
67467,5gil
220,62567,563
7,953, l53
The above costs include Xl, I 14,045 (2015: gf, f28,860) in re(at(on lo support cost~. gnfrport
costs rcfu(c (o Ixiyroll, IT, HR, support staff and head oAice fiinctions.
6. Taxa(ion on Ordinary Ac(tv(ties
Analysis of charge iu the year
Thc hx cliaigc no(cd on 0ic Consolidated gtatement of Iiinancinf Activities relates to a prior yearadjustment for Career ('onaections Limited (founcrly fororvri as GMCP (Enterprise) (.imited),
there is uo lax charge relating to 2016 fnr any of the companies ivithin the. group.
-28-
Career Cot))tee(
Notes in ihc Financial Staten&ants
Yea) Li'nded 31 March 2016
7. Nct incnmc / Kspcn&titure
This is stated after c)&a&8)ng'(c&c&li(tng):
Stalppcnsion con(iih&iiionstiovernn&ent grants releasedI)cprcclailoiiOpe& sting lease costsAudi&em' reutuu&nnlion:
—audit of the tinanc in) statements—t«s con&phancc aod VhT advisory
20I6
1,53S,094
227,996) 07) I20
1'),2003,G76
20)5
533,4i)6
3,5i7220,625) 83,336
l9,22 I
Trnstccs, ctnptoycrs and key ntanagemeui personnel
AV«gcs aud snlartcsgee in! security costsOther pension costsRe&I'&'I&&danny a &'Id cx-gratia
20)G
9,074,762G44,4)5
2890,848245,fi7 I
)2,255,696
20)5
8,36 ),4556)7,995533,446I66,074
9,68 I,970
Other pension costs above rap&cscots thc total opcint ing charge inch&dud in msources expendedin ihc statcmm&t nf tinancinl activities and does n&it include. amounts inrh&ded ut othe«' ccoguisedgains and losses (see note I 8).
Ntaft Nun)bet's&.
Thc average n&onthly hcadconnt svas 377 staff (20 I 5; 364 staff) and the avemge monthly n&anber
of full-time equivalent employees during the year (Iuctudh&g casual and t)art-time stat t) was asfoHo&vsx
20) f)
Ne
345
20)5Ho
325
345 325
LG0,000 to f69,999L70,000 to L79,999L80,0&)0 tn X89,999L90,000 io L99,999L)00,000 to f i 0') 999
Thc number of &nnpioyccs whose nnnnne ration for the &s:ar fell within the following bands, «ns:20).G 2015
t&) n Ho
I
3 3
29-
Crt pccy Colt rtccf
Ão(es to thc Vittartciat Stntetrtcnts
Your Irrrded 31 IVlarch ZOICi
It. Tr'11stces employers an(t kcv ulanagcnlcu( l)erannncl (r cottoned)
Kcy Managcnlcat Personnel
'1'hr. kcy rnanagcn&cnt persouocl conspriscs of the Executive Directors. The I'ull time equivalent
during the year divas 4 (20 I 5:4).
Btrcctors' Kruotumenta26IG 20!5
The ducclors' aggregate en&oluincnts in respect ofqualifying services sverax
bmotunrents receival&!e (including beuclits in kind)
Va!ue ot company contrit&ntinns lo defined
henefrt pm&sion scltcmcs
323,1 92
~7I 809
449,074
73 21 g
Krnotnrneots ol lrigbrst pard dtrmctor'1'otal mnolumeols (exch&ding pension cu&ttributions): JJ2 593
'I'bc munber of directors &vita are accruinp benelils under delincrl benelil pension schemes svas
as follosvs:
Octincd henelil pension schemes
2016No
2015No
Hone of tbc trustees received mty mnnrneralion for services as a trustee ur dhcctor of thc
charitable company dnring lbc ennea! or previous year. Expenses of f l7,002 (2015: f 19,5G3)
rvcrc tohnborscd to 4 (2015:4) trustees during thc year, in relation to travel and o!bcr expenses.
-30
Career Conttccf
Notes ln the !financial Sfafeuteuts
Vcar Kuded 3f tVhtrch 2016
9. Surplus n(fributable (o Mcutbcrs of the Parent Cotupaay
'l'he orno»at of girnip snrpl tie agributable to Career Contract svhieh has been desk svilh in its ntvnacro»nts is g I.dit3Iv! (2015: 81.126M). Carcct Coimect has taken atlvmilage of Sectinn d08 ofthe Conipattlcs Act 2006 attotving it uot to pohiish its otvn i»route and expendittuc aoco»IH.
10. intangible Fixed Assets
Group Goo(1 trill Tntalf.
Cos(Al 1 April 2015Additions
D is pox a is
At 31 March 2016
86,688 86,688
(86,688) (86,688)
AmortisatiouAl 1 April 2015Clmrgc lhr the yearOn dispose la
At 31 March 2016
28,896 7.8,896
(28,896) (28,896)
1%et book valueAt 31 March 2016
At 31 is!arch 2015 57,792 57,792
- 31-
C(rrccr Cot((rect
Notes to the lrirraflcial &I(a(errrefl(s
Year I&',&(dc&i 33, iVIarch 2046
11. Tangible Fixe&1 Asse(s
Or'n U p
Cnst
L'q &1 rpflrerr 1
8
XA.'asehnk( 1'1x(flr&es rlflg
Pl'oper(y Pktlrrp'& Total
At I April 2015h&kli(iofls
D(spe saisA( 31 March 2016
2,445, 883
66,851((0,027)
2, (83,985
62,426(4 095) (3&),356)
4,669,224
129,277(53,4 78)
Bcprccin tinfl
At I Apri(2015Charge for (he yearOn &(ispnsal&
At 31 Inarch 2016
1,72.3,962179,116
~39872,38(, 192
52,010~26952 430 507 I 899 091
37,662864
~38 526
4, (42,816231,990~45 208
4 329 598
Ne( bnn1& valfleA( 31 Zrhrreh 2016
hi 31 Ma&eh 20(5 64 691 460 023 I 694 526 408
Crnflpaay II,'q fllllnrelrtLeasehnkllh oper(y Tntnl
f.
h( 1 Apri(2015h&klitiofls
Dispose(aAt 31 Mare(r 20 If&
2,445, 883
38,024
2 483 907
2, 179,890
62,4264,62S,773
100,450
2 2423lh ~223Beprec(a((nr&ht 1 Apri(2015Charge for the year0&r cllsposa(s
At 31 ldarvh 2016
2,381,19246, 182
1,719,975179, 116
4, 101,!67225,298
Net hnnk vnlflcAi 3I March 2016
h( 31 1Vhreh 2015
~25~9 ~S2
Career Con(tee(
Notes to the Nun((cia) Statements
Veau Ended 31 March 2016
12. Invcstmcnts
(:mapBu(hhoues Tave»(uten( Portfolio
Market vahie ut I Apri12015A&lditions
Unreal!»ed gaia» I (losses) in year
2, 184,732
(60,958)
At 31 lviarch 2016 2~(23 774
I'he investmenls aie beld ivilb Rathbone Invcstmcnt hlanagemenl Luuikxk Thc historic cost nfihcsc invcs(ments at 11 Mairch 2016 wss f2,000,000 (f2,000,000 at 31 Match 2015). lnveshuents
are shown at mmket value at Gtc balance shcct date.
Investments in the comp my buhiuce »Iten( arc shown ns K2, 123,778, ibis i» duc (o (hc additional
Pd in vest iuenl iu S( Hc lens Career Smviees l,imi ted.
13. 1nvestmcats iu snbsidiaries
The ('ompauy owns IGGYo of' the ordinaty slane capital of St Hcktis Career Services Limited
(compmiy nnmher 03025401), which tats uot trmlcd doring the year.
The CO(npmiy SVus the sole member ol IluvC COmpanies limited by guaumiee: CareerConnections l,imited (founerly kuowtt as GMCP tintetlrrise) Limitml (company number
G3(41192); GMCP F'.nterprise (.imited (formerly kuowu as (.arccr Connections Liiuited)
(coni(utny number 07250578); aud Achicvc Neith West Connect (comp niy uuu)bcr 03075969).(IMCI' Enterprise Luui(cd was dormant and has not tiaded during tbc year. Thc principe! activityol' Career Connections l,imited was providiug (hc ad&li(iona! advice information aud guidance
services of its holding coiupauy, othm (hmi those contincted iviih Local Au(horitics. The
principal activity of Achieve North West Cotusmt was prnviding the additional adviceinl'Oimatien and guidance»eivirCS Ol' Catmr Connect, ielating to the Ratinnai Offender
Management Service.
Career Connections Luuitcd, a Whnlly OiVnCd subsidini3 of Caieer Cannon(, Obtained contm!
over Caters»Box (.imited during the pizvious year. Career»Box ivcnt into ndministraliou ou 31March 20!6, its results ae cousohdain! Io this point.
Ag of (hc al)ove conipanie», ivhich arc regis(cmd in gnpland nnd Wale»a am htchidcd in (hc
cnnsolidnted account».
Thc ('.nmpany is also a pady lo a joint vcn(uro arnuigement called 'reaehfor' (company mimbcr
07576938) svhich is a company limited by guamutoe ivgistcivd in I.ngland. It is oue of 6paitncrs and at 31 Ivhtreh 2016 gic coinpany had net assets ol anil. The (xucnt conipnny's
investment in 'iraChliir' has been disclosed as cunent assai h(VCSttnCnta, aa fnllosvrc
Glsru p Cnaipauy2016 2G15 2036 20!5
f,
5,000 5,000 5,000 5,000Cuitent Asset inve»tmCulS
Cancer Connect
(&(n(es (o the Vinanci&d sita(cn&en(s
Yca& I&,'&&dad 31 1&rtatvh 2016
Dcbto& s
Trade del&tnrs
)&)&noun(s o&ved (rom youpt& I&der(a! "Ings
0!her duhio& s
Prepay&»cols and accrued mcome22,853
573)9085,935
497,111
Group2016 20(5
f1,S93,438 2,270,682
Co»& (n» tv201G 2015
J1)555,426 (,902,84&7
2,732,0807,786 5,935
387,328 436,827
2)49(h199 2,773,728 1,950,S40 5,077, ti9!
1S. Cash aud cask equ(va(eats
Cash at l&ank and n& hand
Gss&up (.nmpm&y
2016 2015 2016 2015s
16. C&vditnrc An&m&ats fa(((ng due svi(hm one year
Bank hales &Iud eve&din((sT)adc creditorsAmo&mts owed to y»up undertnkings
Co&1&oration (ax()ther taunt ion and son in! securityOthe& ere&Stole
Accrue!a at&d (lclcl'rcd h&come
t &'oup
2016
146,982
3)2141,164,661
59,4671.,053,526
2015f
i3,88968,701
6,697802,6! I
72,5301,060,384
109,9191,242,691
1,062,10957,934
7SG,255
55,2815, 150,000
3,651775,040
60,3349(9,323
Con&p;&)&v
2(H6 2015
2,427,850 2,024,812 3,2S8,908 6,963,G29
17. Credi(ors& Ao&nants faB(ng slue io rooro than oue year
13ank loans and overdra(ts
Group2016 2015
f42, !42
42, (42
Company2016 2015
f.
Ctil cot' CAII Itcct
PIO(en tO thC Fiinancint Sta(emetlta
Year Kndeti 31 March 20)6
18. Pe»sinn s
The Merseysidc Pcnsio» I nnd (Ml'F) is a dciuicd bcnciit schente relatuig Io lliosc mnployccs
lbnl Iransl'crrcd frnm Cmeei Couucclio»s l,imitcd, Cnieer Decisions i,imitcd, gt I lekns C neer
gervices Liuuted and &.onncx iona Cheshhc nud 'iV;nvington in Apri! 2002. Tbc schcrnc is funded
aud is co»lrsmtcd out of the a!ale schcinc, Tlm scheme rvas closed lo ncw cmplnyees in 20( 5 ofCaieer Connect end al 31 March 20I6, 200 eiuployccs werc members, theta ivcic 317 deferred
utc»(bern, l60 pensioners aud 5 widows, Thc comlrany's contribution rate is set at -2.82% (20 I 5:23.579u company contribution mte).
The (ireater Mancbeslcr Pcnsiori Fund is a deliaed bcuciii scheme relating to (bose cinployccs
tbni hanstbrvcd ttom Manchester aud S»I(bitt TY8 in November 20 I 5 and Gom Achieve ui July
20 l5, Thc scheme is closed lo imw mnployees of Cmecr Co»acct and at 31 Mmcb 20I6, 74
einploynes werc niclnhcrs, theie 'iveie uo ikfCrrCd n'icing\era a!K! »o pvualcriCra, The coinpnny s
co»lrilmtion mte is sei al l9. I lo 30%.
Thc schemes are multi-employer schcincs, ivhose coniribuliou rules arc determined by ibc proBIC
nf individunl eniploycr nicmbcrs. Contribulious lo Ihc schemes during lbo iiimncial year
amou»lcd io f7648 of employe& couiribulio»s and I'4 Igh member coidrib»tinns.
'I'he niosl rci cni aclururia! valuation availnbb: rvas at 31 Mmdi 20!3, which I'orms the basis of the
con(rib»tinn rates fiom April 20(3 and nses the projected unit method,
TIIC u'is)ol'assi»»ptions used ui titls v'Iluntinn ivci'c:
Rate of CPI inflation
I(ate of increase iu saimicsRate of iricrcase in pei'isious ui paynicrit ai'id defeiredpeirsionsIJiscouut mlc applied to scheme linbiblics
2GIGny
2,0 tn 2.23.5
2.0 to 2.2
3.6
20i 5
2,03.52.0
3.3
13fe expectancy Yeats
Of n cuirei'it i)eire'io»Ci' agCd 65Ol n i'u!uic pc»sinner aged 65
20I6Muk Fcmalc2 I,4 to 22.5 24 (o 25.424 io 24.9 26.6 to 28.2
Male22.424, 8
20 l5Fcmnk2(L328. I
Cuirei'it se!Vice cuslNel i»(crest costAd i'i'i i » is'tfat i oi'i expeusCS
E(Tent uf curlailmcnts or setHemeuls
Tulnl PCnSion cost iecotpuacd in i»COmc and expeudiluiu
2016f,'0002,8G((231)
252
2~657
201 5
f.'000I, I24
(3 i2)28
-3S
Ctt rccp Cott ttcc(
ts(utes fo the tiiuurtcinl Stntemcttts
Year Kttded 31 Wfnrch 2016
1S. Pensions (continued)
Prcscttt value of fiin(lcd benefit oblipa(ionI'resent vehic ol'unfunded licaclil obligationsTotal piicsent value of hciielit obligations
2016
f. 00092,5GS
5992,627
20l5J '000
88,507ti3
88,570
Closing fair value of phiu assetsSurplus/(ftclicit) in schiunc - htc)uded in lialancc sheet
9~86S3. 6~05'
96i 956~386
Changes in tlic present vahie of thc
Opening defined benefit obligationCill'I'alit sci vice costJuiciest costMember coul& ibat iona
Actutu in! (gains)/lossesCtataiituentsBenefits paklClosiug defined bcnclii obligation
dclioed benefit obligation me as folloivs:2016
8 00095,3811,5503,11G
418(G,091)
2~l749
20I5L'000
72,5271,1213,225
39313,433
~2132)88,5~
At tbe balance sheet date oliligalioiis amounting to 659,000 (2015i F63,000) htc)uded abovesvcrc aids)ng flu!i'! alt/tnt&lcd sclieliies.
Change ia fah value ot'schcua: assets are as folloivs:
()pening vahie of scheme assetsExpected I'col fitAct us ria! (losses)/ga itisAdministra(ioa expensesEiri plolier cn!rtl'ibiil loiisM clnllcl's Qollli ibil't!on sBenefits paidClosiug fair valac ol'scheme assets
2016OOOO
102,1 103,347
(ti, 182)(25)764418
~17499~8{iI
2015f.'000
78,7323,537
14,989(28)
1,46i5
393(2, t~12
36 956i
Schiuue AssetsThc major c itegories of plan esse!s me as fol!osvs:
Other
201Gg'000
2015J'000
9~69
-36
Career Cotf acct
Notes to thc Firtaueial &ifatcmcttfs
Year Fttded 31 Matc)t 2016
I II. Pensfous (continue&I)
The &3roup expects lo contribu(c 6 f/09, 000 to thc pension Iiinds during lhc year ended 31
hdatv. h 20 I7.
1he. Group has adopted Financial kvportittg Standard 102 (Fltg 102). I&kg 102 re&I&thea that thv
Group iuvhidcs the assets and liabilities of' these arrangemvnfs in fbc Group's iraliuu;e shcct.
Cuircnt service costs, aduiinisti alice expenses, cnitaihucnl and svlflcment gains aud losseih au&I
nct fin;mcial ieturns arc indudcd in the »&come aud cxpen&lil&ac account in thc period lo suhich
they refute. The past service crecht has been disclosed ns an excep(ional ilmn cn the face ol the
i»conte au&I cxpendiluie account. Actuarhd 0»ins rnid fosses aic tevognhscd iu lhc staleuicnt of
other vompieheiisiac incoiuc.
The Group's lulal pcnsiou income iucluded &vithi» Stalcmcnt of Financial Acticilics for the
year svas 62,657,000 (2015: gg40 000) heiug K2, II6 1,000 (201'5: X 1,124 000) in respect cf flic
current service coal, f25,000 (2015:f28,000) in respect of administration exponses mid E2,000
(2015: XNil) ui respect of (hc effecl ot' cuttaf)»&cot or scltlemeuls. Finance costs in respect of
Ihc pension scheme oi'F231,000 (2015:D!2,000) &acre also recognised,
Thc total acfunria! gain includ&xi in the slatmneal of finaucial posilion is KS,295,000 (20 l5:
6f1,386,000).
Hone uf Ilm fait vaf»c of tbv assets iucludes auy of the Grnup's o&yn fina»cia! iuslnunents or
property occupied by, clbcr nssels used by, Ibo (iron p.
- 37—
Career Co(((tee(
1Vo(es to (he. r)it(at(cia( Staten)en(s
Year Li'rulc)i 31 March 20(6
19, Provisions fnr l.iabili(ies
Group
At 1 April 20!5Mnvmnraa in the year
At 3 l h)h)rch 2036
(yffices
36i7,676(232 922}
J34 754
Con(rue(( (arrhack
300,600~300 600
'3.'o(el8
GG8,276~533 522
The oflice provision iubites to sites rvhc)u (cases me due to expire in less than nnc year,mothbalhxl sites and potential c(usu)es. '3'he potential chnvbark prnvision has been relensed as aprovision is no loiigcrjudged appropriate.
Con)puny
At 1 April 20(5Ivlovelnelit II'9 the veal'
At 3( March 20l6
()ffiees
367,G76
~232 922
Tote(
367&676~222 922
Thc o(lice provision relates to siies )vhe)e leases arc due to expi)e in less lhau one year,mothballed sites mid potential closorcs,
20. Deferred Income
Liefe) ied incnmc co)uprises grant and other iucouie )eceived in advance.
(3ahmcc at 1 Api il 20!5Amount n:leased tn income earnedl'ron) charitable activitiesAmount dcfcrrcd in the year
13alancc a( 3( Mach 2016
('mop2016 2035
345,257 545,408
P45,257} (545,408}~503 782 34S 2S7
503,782
(252,495}~2235 651
(4!3,t')78}
252 495
2~9S ~95
Co nips ny201G 2015
252,495 433,678
Career Cottst cot
Notes to ibe 0'it&uncial Statnuents
Year Kttdcd 31 March 2016
2L Cnmmitmeuts uuder Operntiug Leruscs
A! 31 March 20 I G Ihe gionp and comp;aiy Imd couiinihnenis of hiture i»inimuui kase paymcigs
under nou-cence llabk operating kases as sel out below.
Group aud Cont pauy
Open&to&8 leases which expire:Wilhin I yearWithin 2 io 5 yeses
Ager inoiu tluut 5 years
201GLaud audbiiildbigs
30,802
311,802
2015Land and
buildings
f
89,22!I7,500
106,72 I
22. 1xgal Form
Carccr Connect is a company hiuiicd by guarantee without sharc capikl, incorporated in
fotgland.
23. IVEoven&eut in Urirestrictcd lac»inc Funds
G rrntp
Ba lance brooght for&var&1
hlet movcnients iu lhnds fm !hc year
Bahama caivied furwanl
2016Total
12,137,001(],955,477)
10,1M &524
Uiuuslricted luuds inchi&k LG.I)5GM in relation to tbc defined bonefii 1)ra&sion schcnie.
Unmstricted lhnds exchiding the pension reserve amount Io 64.125M.
Contpany
Bahiuec brought lolsvard
Hct moveuicnts in giuds for the year
Balance cairicd forwanl
20 IG
To(al
G,&)6l,6411,406,451
8,368,0&M
Unrestricted huids include X6.056M iu rcktiou lo the &Icfined benefit pension scheme.
it»restricted funds cxchidiug ihc pension iuservc amount lo f2.348M.
Career Catt(teel
)v(utes (o (bc Pluaucia( N(a(cole(I(s
Year Kudctf 31 Mltrch 20( 6
24, Rc(a(cd Party Traasnetioas
ThC Chlirity palticipa(cs iu 'reachfor', a joint venture organisatiou. At fhe year mid Ihciu rvnsgfti( (2015: XNI() olved by thc n»»pliny. Durinp, thc year reachfor purcllased services tote!lingL60,688 (2015: f97,902) from the Otmrity aud nlade sales Iofalling f14,776 (20(5: f20,750) toIhe Charity.
25. gabsidiary Iuforntaf(eu
A summary of the iesults and Ibc fiu;mein( positioii of die 100% nrvncd non-charitable subsidiaryCOuipauies is as fbi(O&vtu
Oai'cci' A Chil'vc NOI'th Cat&a)'88oxC.'nnuer(ious West Connect L(m(tcd To bi(
0'Icoinc 2,781,75 I (,848,801 26 f,284 4,891,83G
Operating cos/s ~2095,7671 ~1666999) ~373 742 ~4736 508
Opera liiig suiplus(3((t aid dOila I iOu
hi(ores( lvceivablcAlnnnl'its 'lyrltilcu off II'lvestirlcnfa
Aulounts lvlltfcll o(T h»u!s
685,984(4,081,009)
7,076(110,030)((56,920)
181,802 (IJ2&458) 755,328(4, 1 f7,373)
7,092(1 I 0,030)(156,920)
lax on su&plus ~7680) ~7680Surphis/{de(iei() lol the fina»Cia(
peal (3~9~ 181,&MI ~l2 458 2S622383j
']'otal 18unds as a( 3( ivlarch 2016To(al «ssets'1'otal liahi(ilies
(,875,412~245 787)
3G5,314~(82 469
77,422 2„3I8,148(256,4~75 ~684 731
I 629 Gi25 JQJU 8 (~(79 053 51,{&33$99}
Income liom the nnn-cilarilable subsidiaries has been included in thc 8(a(ement of IlinancialActivitiCS aa COumlercinl tiuding iuColue. . Interest rcceiVab(c has been inclndCd under investmcnl,income. Operating costs have been i»cludcd as expenditure on misiug funds. Intercompanytiansactions have been eliminated.
I he operating costs noted in (lic Statement of I blanc(s) Activities mc D,600,264, per note nbovcX4, 136,508. ThiS d(Faience is duo IO recharge expenditurC aml intercompany (OSSCS lvritten oA'
during consolidation,
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