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 &sect

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,

- 40-