THE NATIONAL FINANCIAL SERVICES SKILLS ACADEMY

Charity number: 1129904
Removed charity

Charity overview

Activities - how the charity spends its money

The development and delivery of skills training products and quality recognition awards for financial services firms, recruitment and employability programmes to help job seekers gain work in the sector, and financial education programmes to improve the UK population's confidence and ability to manage their money effectively.

Income and expenditure

Data for financial year ending 31 July 2017

Total income:
£612,193

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Donations and legacies £2.08k
Charitable activities £609.63k
Other trading activities £0
Investments £413
Other £80

Total expenditure:
£812,303

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Raising funds £0
Charitable activities £812.30k
Other £0

£0 investments gains (losses)

Total income includes £35,828 from government contract(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

Text alternative for this canvas graphic is in the data table below.
Raising funds and other expenditure £0
Charitable expenditure £812.30k

Fundraising

This charity does not raise funds from the public

Trading

This charity does not have any trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • Education/training
  • Economic/community Development/employment
Who the charity helps:
  • The General Public/mankind
How the charity helps:
  • Provides Services
  • Other Charitable Activities
Where the charity operates:
  • Throughout England And Wales
  • Northern Ireland
  • Scotland

Governance

Registration history:
  • 01 June 2009: Standard registration
  • 14 May 2021: Removed (Ceased to exist)
Organisation type:
Charitable company
Other names:
  • NATIONAL FINANCIAL SERVICES SKILLS ACADEMY (Previous name)
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Complaints handling
  • Conflicting interests
  • Paying staff
  • Risk management
  • Safeguarding vulnerable beneficiaries
Land and property:
This charity owns and/or leases land or property

Financial history

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Financial period end date

Income / Expenditure 31/07/2013 31/07/2014 31/07/2015 31/07/2016 31/07/2017
Total gross income £1.60m £1.83m £1.73m £1.07m £612.19k
Total expenditure £1.84m £1.70m £1.66m £1.20m £812.30k
Income from government contracts N/A N/A £0 £0 £35.83k
Income from government grants N/A N/A £68.55k £5.00k £0
Income - Donations and legacies £19.35k £1.92k £5.58k £0 £2.08k
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £1.58m £1.82m £1.72m £1.07m £609.63k
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £4.52k £1.06k £1.52k £982 £413
Income - Other £0 £0 £0 £0 £80
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £1.83m £1.68m £1.65m £1.20m £812.30k
Expenditure - Raising funds N/A N/A N/A £0 £0
Expenditure - Governance £12.57k £12.31k £13.65k £32.06k £24.80k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/07/2013 31/07/2014 31/07/2015 31/07/2016 31/07/2017
Own use assets £0 £0 £0 £0 £4.93k
Long-term investments £0 £0 £0 £0 £0
Other assets £827.98k £903.43k £1.02m £751.71k £660.91k
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £402.94k £348.88k £392.31k £263.07k £377.30k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 July 2020 Not submitted
Accounts and TAR 31 July 2020 Not submitted
Annual return 31 July 2019 Not submitted
Accounts and TAR 31 July 2019 Not submitted
Annual return 31 July 2018 Not submitted
Accounts and TAR 31 July 2018 Not submitted
Annual return 31 July 2017 03 May 2018 On Time
Accounts and TAR 31 July 2017 27 November 2017 On Time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 5 APRIL 2007

Charitable objects

THE OBJECTS FOR WHICH THE COMPANY IS ESTABLISHED ARE TO PROMOTE COMMERCE AND EDUCATION THROUGH THE CO-ORDINATION OF EDUCATION AND TRAINING FOR PRESENT AND FUTURE EMPLOYEES IN THE FINANCIAL SERVICES SECTOR THROUGHOUT THE UNITED KINGDOM (THE "SECTOR") AND FOR THE PURPOSE:- TO PUBLISH, APPROVE, PROPAGATE AND MAINTAIN STANDARDS, CURRICULA AND MATERIALS FOR TRAINING AND EDUCATION AND STANDARDS OF COMPLIANCE REQUIRED BY THE SECTOR; 3 TO CONSULT WITH AND RECEIVE INPUT FROM PARTICIPATING EMPLOYERS, THE DEPARTMENT FOR EDUCATION AND SKILLS/THE LEARNING SKILLS COUNCIL AND OTHERS AND SET POLICY, STRATEGY, AND OVERSEE IMPLEMENTATION OF THE PROVISION OF EDUCATION AND TRAINING AS REQUIRED BY THE SECTOR; 3 TO ESTABLISH AND APPROVE 'TRAINING COURSES TO BE DELIVERED THROUGH LICENSED TRAINING PROVIDERS/DELIVERY CENTRES; 3.4 TO PROVIDE, COLLABORATE IN OR PROMOTE THE PROMOTE THE PROVISION OF: (A) FACILITIES; (B) RESOURCES; (C) PERSONNEL; AND (D) MATERIALS, FOR OR IN CONNECTION WITH THE DEVELOPMENT AND/OR IMPLEMENTATION OF TRAINING AND EDUCATION STANDARDS; AND TO ENCOURAGE THE INVOLVEMENT OF NATIONAL SPONSORS FOR THE PROMOTION OF EDUCATION AND TRAINING IN AND FOR THE SECTOR,

Area of benefit

The area the charity can operate in, as set out in its governing document.

THE UNITED KINGDOM