MOUNTAIN_TRAINING_CYMRU_B - Accounts

The directors present their annual report and financial statements for the year ended 31 March 2019.

The principal activity of the company is to advance for the public benefit of education and training, primarily in Wales, the skills required for leading and instructing safe hill, mountain, moorland and countryside walking and indoor climbing, rock climbing and other associated activities practised in cliff and mountain environments and to offer advice on matters of training and safety.

During the year the directors and secretary served as follows:

Directors:

Anne Vowles        Chair

Mike Rosser        Director

David Jones        Treasurer

Andy Newton        Director

Allan Gibbs        Director

Secretary:

Simon Patton        

A Management Board of members drawn from a wide range of interested organisations advises the directors on all aspects of the company's activities. The directors and the Management Board have met regularly during the year. The Management Board was constituted as follows:

Organisation Members

Andy Meek        Association of Heads of Outdoor Education Centres

Andy Newton        Association of Mountaineering Instructors

Ross Worthington        British Association of International Mountain Leaders

Matthew Woodfield    British Mountaineering Council Cymru

Phil George        British Mountain Guides

Steph Price        Duke of Edinburgh's Award Cymru

Gill Beazley        Girlguiding Cymru

Phil Benbow        North Wales Mountain Rescue Association

Arwel Eilas        Outdoor Education Advisors Panel for Wales

Mike Raine        Plas-y-Brenin (Mountain Training Trust)

Angela Charlton        Ramblers Cymru

Chris Hughes        Scouts Cymru

Observers/Advisors

Vacant            ABC TT

James McHaffie        British Mountaineering Council

Will Kilner        Independent

Vacant            Institute of Outdoor Learning

Chris Forrest        Joint Services Mountain Training Centres

John Cousins        Mountain Training UK

Joe Roberts        Natural Resources Wales

Simon Jones        Y Bartneriaeth Awyr Agored/ The Outdoor Partnership

Paul Donovan        Organisation/ AdventureSmart

Review of Progress and Achievements

The Executive Board has met on four occasions since our last AGM. Three Council meetings have taken place and we have had representation at all three MTUKI meetings.

Financially, we have experienced a positive year. We budgeted for a £4,000 deficit. However, our figures revealed that we have a surplus of approximately £6,000. A number of factors have influenced this, most notably, an increase in provider fees and course participant fees and a reduction in staffing costs.

Our current Chair, Mike Rosser, stood down in June but will remain a director until the end of his second three year term in November 2020. Our new Chair, Anne Vowles, was unanimously voted in during our AGM.

Recruitment for new directors will begin during this financial year as three directors reach the end of their service during 2020.

The climbing awards review was completed in April 2019. This review was a root and branch review of the entire suite of climbing schemes. Several of our existing qualifications have been revised and now have more descriptive names: Climbing Wall Instructor and the Rock Climbing Instructor. Three new climbing schemes were launched during the final implementation phase of the review: Rock Skills, Indoor Climbing Assistant and the Rock Climbing Development instructor, each of which is already showing steady growth.

The induction of Providers and Course Directors for the new and revised Rock Climbing Schemes courses has taken place. It is encouraging to know that two of the new Rock Climbing Development Instructor Training Courses have already been delivered, one of which was in North Wales.

More Providers, Course Directors and additional staff means more courses to be moderated. This is an essential piece of work to ensure the highest standards of Quality Assurance. To ensure that MTC is able to meet its targets the Executive Board will be working with Simon to identify any additional support required.

A governance review is under way and will be completed by Autumn 2019. A review of our Articles of Association will take place to ensure they are fit for purpose and reflect how our organisation currently operates.

Our current funding period with Sport Wales terminates in August 2019. We will apply for a new Sport Wales Development during this financial year. We are reviewing our Strategic Development Plan which will underpin our next application.

At the MTUK meeting it was agreed that the current names for the MIA/MIC schemes, proposed by AMI, be changed to Mountaineering and Climbing Instructor (MCI) and Winter Mountaineering and Climbing Instructor (WMCI).

M. Rosser

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mountain Training Cymru Board Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Siabod Cottage, Capel Curig, Conwy, LL24 0ES.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in surplus or deficit immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in surplus or deficit depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.