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2023-04-30-accounts

Charity Number: 1025387 Company Number: 02837809

Bader College

Trustees’ report and financial statements

For the year ended 30 April 2023

BADER COLLEGE (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees’ Report (including Strategic Report) 2-6
Independent Auditor’s Report to the Members of Bader College 7-9
Consolidated Statement of Financial Activities 10
Consolidated Balance Sheet 11
Charity Balance Sheet 12
Consolidated Statement of Cash Flows 13
Notes to the Financial Statements 14-27

BADER COLLEGE (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2023

Trustees

P Deane S Den Otter M Evans S Girvin J Knowles J Purvis

Company registered number

02837809

Charity registered number

1025387

Registered office

Herstmonceux Castle, Hailsham, East Sussex, BN27 1RN

Company Secretary

R Coupland

Independent auditor

Haysmacintyre LLP, 10 Queen Street Place, London, EC4R 1AG

Bankers

National Westminster Bank Plc, 1 High Street, Hailsham, East Sussex, BN27 1AJ

Solicitors

Farrer & Co, 66 Lincolns Inn Fields, London, WC2A 3LH

1

BADER COLLEGE (A Company Limited by Guarantee) TRUSTEES’ REPORT (INCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 30 APRIL 2023

The trustees of Bader College (BC) hereby present their Annual Report, together with the audited financial statements for the year ended 30 April 2023.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company was established on 15 July 1993 by Queen’s University (Canada) as a company limited by guarantee (no. 02837809) in England and Wales and registered as a charity with the Charity Commission (no. 1025387). It is governed by its Memorandum and Articles of Association dated 15 July 2003 and amended by a resolution passed on 2 December 2003.

HERSTMONCEUX CASTLE ESTATE LIMITED

The charity’s wholly owned trading subsidiary carries out the general day to day running of the gardens and grounds of Herstmonceux Castle, together with ancillary operations such as weddings and conferences. The subsidiary company donates any profits generated to the charity each year under the United Kingdom gift aid procedures. Details of this are shown in the notes to the financial statements.

Directors and Trustees

For company law purposes, the trustees are also directors of the company/charity. As at 30 April 2023, there were six trustees – four trustees’ resident in the United Kingdom and two trustees resident in Canada. The trustees who served during the year or have been appointed subsequently were:

A Boggs (Resigned 21 November 2023) P Deane S Den Otter (Appointed 21 November 2023) M Evans (Appointed 21 November 2023) K Fountain (Resigned 30 June 2023) S Girvin (Appointed 30 June 2023) J Knowles R Luce-Kapler (Resigned 21 November 2023) J Purvis

No trustee has any interest in the share capital of any group undertaking or received any remuneration from the charity during the current or preceding year.

Day to day management of the charity during the year was delegated to a management team comprising the ViceProvost/Executive Director (Hugh Horton, replaced on 1 January 2023 by Janine Griffiths-Baker, with Jennifer Medves in the role on an interim basis from 1 September to 31 December 2022), the Director of Finance & Assets (Valerie Lee), the Academic Director (Anna Taylor), the Enterprise Director (Julie Ryan) and the Director of Corporate Development (Duncan Adams).

Trustee appointment and training

The trustees have the power at any time to appoint any person to fill a casual vacancy or as an addition to the existing trustee members, provided that the total number of trustee members shall not at any time exceed the number fixed in accordance with the Articles of Association.

One third of the trustees retires by rotation each year and may stand for re-election. Further details are set out in the Articles of Association.

When a person is considered for the position of trustee at BC, that person is approached and given an opportunity to look at and discuss the history, the current goals, and objectives, as well as the future aspirations of the College. The rules that govern the trustees of a charity in the UK are explained and they are provided with the guidelines set by the Charity Commission.

2

BADER COLLEGE (A Company Limited by Guarantee) TRUSTEES’ REPORT (INCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 30 APRIL 2023

The potential trustee is also given the opportunity to look at the previous and present balance sheets of the charity, and the modus operandi of BC and its subsidiary company, Herstmonceux Castle Estate Limited, is explained.

At the earliest opportunity the (potential) trustee is invited to BC to meet the senior administration team on site to get a clearer picture of the day-to-day workings of the charity.

OBJECTIVES AND ACTIVITIES

Objectives of the charity

The principal objective of the charity is to contribute to and enhance international education and research through its role as an academic meeting-place for students, scholars and professionals from around the world – a place where people of different nationalities may learn and work together for both collective and public benefit.

Structurally, Bader College is an integral component of Queen’s University’s wide-ranging international programmes. To achieve this objective, the charity is developing and providing:

Activities during the year

Activities during the year included:

Public benefit

The trustees continue to have regard to the guidance on public benefit published by the Charity Commission and are committed to maintaining and improving access to the courses run by the Charity, irrespective of background and financial means. To this end, bursaries, and other awards, to the value of £181,141 (2022: £58,541) were made to our students. BC also supports its public benefit role via student engagement in the local community where our students undertake volunteer placements and activities, including fundraising for various charities, and participation in events under the aegis of local charity groups.

The BC Concurrent Education program places student teachers in local primary and secondary schools where they assist teachers with tasks such as group learning and literacy. The Health Sciences program includes the placement of

3

BADER COLLEGE (A Company Limited by Guarantee) TRUSTEES’ REPORT (INCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 30 APRIL 2023

students in palliative care, dementia care, and home care settings, providing excellent experiences for students as well as increasing the College’s visibility as a community partner in the local area. In addition, BC faculty host various public lectures and concerts throughout the year in addition to taking part in the annual National Garden Scheme, opening our gardens, and donating the income to charity.

Remuneration of Key Management Personnel

Remuneration of key management personnel is set by the board of trustees. Factors considered include the responsibilities of the post, local and regional comparative salaries and comparative salaries paid to other members of staff.

FINANCIAL RESULTS AND RESERVES

Financial and risk management objectives and policies

The international nature of its activities means that BC is exposed to risks beyond those which affect similar institutions operating solely within the United Kingdom. The trustees and management continually monitor these risks with the objective of minimizing them and mitigating their effect. Periodic formal risk assessments are carried out in conjunction with Queen’s University in addition to BC creating its own register of key risks. More informal assessments are also carried out by management at BC on a frequent and regular basis.

The key financial objective is to maintain financial viability through a strong system of financial and management controls and enrolment of sufficiently high numbers of students to cover normal running costs and allow for investment in maintenance and improvement of the infrastructure of the site. A budget is prepared annually and approved by the trustees. During the year, regular financial information is provided to budget holders and to the trustees, and the budget set at the beginning of the year is revised as student numbers are confirmed, with corrective action taken where necessary.

Principal risks and uncertainties

The key risk to the charity is a sudden or persistent decline in income causing BC to cease to be financially viable; meeting student enrolment targets is key to the achievement of a strong financial position. We mitigate this risk through the continuous review of our academic programming and recruitment strategies and have been implementing the recommendations of both the Queen’s University Enrolment Task Force Report and External Education Quality Committee.

Our income is also strongly dependent on the exchange rate between the Canadian Dollar and the UK Pound Sterling. We mitigate this risk through a program of currency hedging overseen by the Office of the Vice Principal (Finance and Administration) at the Queen’s University main campus.

Managing the provision of visas to students and to key workers is of increasing concern due to delays to the visa process by the Home Office. We are mitigating this risk by ensuring timely provision of information to students on the visa application process and building a relationship with the office of our local Member of Parliament.

BC is charged with maintaining and improving a high-profile asset, Herstmonceux Castle, an important historical site in East Sussex. Herstmonceux Castle is also one of the highest profile capital assets associated with Queen’s University. It is relevant to note that, although the 2022-23 fiscal year passed without incident, on 25 October 2023 the College was provided with a report from its structural engineers that the Castle was at significant risk of failure, which posed a risk to safety. The decision was taken to close parts of the building on 25 October and the entire Castle on 10 November. This resulted in the closure of the College until at least summer 2025, which affects the majority of the charity’s income. A Serious Incident Report was filed with the Charity Commission and relevant local and national stakeholders, including Companies House, were informed. Work is underway to assess the extent of the required repairs and the ongoing impact on the charity.

4

BADER COLLEGE (A Company Limited by Guarantee) TRUSTEES’ REPORT (INCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 30 APRIL 2023

Financial results

The financial results for the year show a surplus of £3,011,399 (2022: £141,038 deficit). The figures include the positive impact of £63,000 (2022: £150,000) arising from the revaluation of investment property.

The current year results include a cash injection from Queen’s University of £2,722,062 (2022: £1,124,626). Excluding this, the underlying results would have been a surplus of £289,336 (2022: deficit of £1,265,664).

The trustees have reviewed the balances of BC and noted unrestricted funds of £14,178,338 (2022: £12,527,510). This is represented by £13,456,269 tied up in fixed assets (2022: £13,402,594) and net current assets of £722,069 (2022: net current liabilities of £81,373).

The subsidiary, Herstmonceux Castle Estate Limited, made a surplus during the year of £19,676 (2022: £51,919 loss) and ended the year with net liabilities of £170,101 (2022: £189,777).

Reserves policy

Shortfalls that arose in the early years of the College’s inception were covered by Queen’s University and the historic debt written off in January 2020. Queen’s fully supports the activities of BC and has provided financial support during the year.

The trustees agree that this policy will be reviewed on a regular basis.

Going concern

As noted above (see “Principal Risks and Uncertainties”), significant structural issues associated with sections of the Castle necessitated its closure, and the closure of the College, in November 2023. The charity is awaiting a written report from a detailed survey, which will provide the information needed to assess the costs of repairs and options related to ongoing charitable activities at the Castle.

Queens University has given assurances that it will provide ongoing financial support to Bader College (including Herstmonceux Castle Enterprises Limited, a trading subsidiary company of Bader College) to meet day-to-day operating expenses, and necessary capital expenditures for the next 12 months from 2 April 2024.

Bader College therefore continues to adopt the going concern basis of accounting in preparing the financial statements.

FUTURE PLANS

Priorities for 2023-24 include the finalization of the College’s strategic plan, which focuses on empowering its people, exceptional education, enhancing the estate, financial sustainability, and building connections within the Bader College and Herstmonceux Castle community. A review of the organizational structure of the College has taken place and a revised structure will be rolled out to ensure all employees are properly supported in the performance of their duties, and that appropriate mechanisms are in place for communication, collaboration, and accountability across the organization. New measures were put in place in January 2023 to improve the overall student experience for those studying at the College, which were very well received by the student body. Ongoing implementation of these efforts will continue in 2023-24.

It should be noted that, as of November 2023, the focus of the charity had to pivot to managing the situation posed by the Castle’s structural issues and associated safety concerns. This resulted in the need to temporarily halt the focus on the College’s academic mission in favour of rendering the building safe and secure, and meeting the charity’s obligations with regard to the Castle’s status as a scheduled monument and listed building.

5

BADER COLLEGE (A Company Limited by Guarantee) TRUSTEES’ REPORT (INCLUDING STRATEGIC REPORT) FOR THE YEAR ENDED 30 APRIL 2023

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of Bader College for the purposes of company law) are responsible for preparing the Trustees’ Report (including the Group Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the income and expenditure, of the charitable group for that period. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s and group’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are trustees at the time when this Trustees’ Report is approved has confirmed that:

This report, incorporating the Group Strategic Report, was approved by the trustees, in their capacity as company directors, on 9 April 2024 and signed on their behalf by:

J Purvis

Trustee

6

BADER COLLEGE (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BADER COLLEGE

Opinion

We have audited the financial statements of Bader College for the year ended 30 April 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

7

BADER COLLEGE (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BADER COLLEGE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to Charity law, employment law and health and safety regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered other factors such as the Companies Act 2006, the Charities Act 2011, income tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and concluded that the risk was low. Audit procedures performed by the engagement team included:

Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

8

BADER COLLEGE (A Company Limited by Guarantee)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BADER COLLEGE

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditors London EC4R 1AG

Date: 16 April 2024

9

BADER COLLEGE (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) FOR THE YEAR ENDED 30 APRIL 2023

Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
Note £ £ £ £
Income from:
Donations 70,655 - 70,655 1,463,255
Charitable activities 7,237,585 1,807,746 9,045,331 3,303,226
Commercial trading operations 755,028 - 755,028 501,515
Investments 3 102,737 - 102,737 96,382
Other 434,765 - 434,765 26,903
-------------------- -------------------- -------------------- --------------------
Total income 8,600,770 1,807,746 10,408,516 5,391,281
---------------------- ------------------ ---------------------- ----------------------
Expenditure on:
Raising funds
Commercial trading operations 521,433 - 521,433 425,378
Charitable activities:
Academic costs 4 3,537,031 83,267 3,620,298 2,575,455
Premises costs 5 2,954,478 363,909 3,318,387 2,681,486
---------------------- ------------------ ---------------------- ----------------------
Total expenditure 7,012,942 447,176 7,460,118 5,682,319
---------------------- ------------------ ---------------------- ----------------------
Net income/(expenditure) before 1,587,828 1,360,570 2,948,398 (291,038)
revaluation of investment property
Revaluation of investment property 10 63,000 - 63,000 150,000
---------------------- ------------------ ---------------------- ----------------------
Net income/(expenditure) 1,650,828 1,360,570 3,011,398 (141,038)
Net movement in funds for the year 1,650,828 1,360,570 3,011,398 (141,038)
Total funds at 1 May 2022 12,527,510 18,389 12,545,899 12,686,937
---------------------- ------------------ ---------------------- ----------------------
Total funds at 30 April 2023 14,178,338 1,378,959 15,557,297 12,545,899
=========== ========= =========== ===========

All activities relate to continuing operations.

The notes on pages 14 to 27 form part of these financial statements.

10

BADER COLLEGE Registered number: 2837809 (A Company Limited by Guarantee)

CONSOLIDATED BALANCE SHEET

AS AT 30 APRIL 2023

2023 2022
Note £ £ £ £
Fixed assets:
Tangible assets 9 10,874,269 10,883,594
Investment property 10 2,582,000 2,519,000
-------------------- --------------------
13,456,269 13,402,594
Current assets:
Stocks 5,365 4,518
Debtors 11 222,890 174,845
Cash at bank 2,403,554 1,058,802
---------------------- ----------------------
2,631,809 1,238,165
Creditors:amounts falling due within
one year 12 (530,781) (1,301,149)
---------------------- ----------------------
Net current assets/(liabilities) 2,101,028 (62,984)
------------------ ------------------
Total assets less current liabilities 15,557,297 13,339,610
Creditors:amounts falling due within
one year 13 - (793,711)
--------------------- ------------------
Net assets 15,557,297 12,545,899
=========== ===========
Charity funds
Restricted funds 14 1,378,959 18,389
Unrestricted funds: 14
General funds 14,178,338 12,527,510
-------------------- --------------------
Total funds 14 15,557,297 12,545,899
=========== ===========

The financial statements were approved by the trustees on 9 April 2024 and signed on their behalf, by:

J Purvis Trustee

The notes on pages 14 to 27 form part of these financial statements.

11

BADER COLLEGE Registered number: 2837809 (A Company Limited by Guarantee)

CHARITY BALANCE SHEET

AS AT 30 APRIL 2023

2023 2022
Note £ £ £ £
Fixed assets:
Tangible fixed assets 9 10,835,593 10,842,492
Investment property 10 2,582,000 2,519,000
Investments 10 10,000 10,000
-------------------- --------------------
13,427,593 13,371,492
Current assets:
Stock 4,603 3,872
Debtors 11 423,396 464,067
Cash at bank 2,339,202 895,996
------------------ ------------------
2,767,201 1,363,935
Creditors:amounts falling due within
one year 12 (456,640) (1,195,286)
---------------------- ----------------------
Net current assets 2,310,561 168,649
------------------ ------------------
Total assets less current liabilities 15,738,154 13,540,141
------------------ ------------------
Creditors:amounts falling due after
one year 13 - (793,711)
---------------------- ----------------------
Net assets 15,738,154 12,746,430
=========== ===========
Charity funds
Restricted funds 14 1,378,959 18,389
Unrestricted funds 14
General funds 14,359,195 12,728,041
-------------------- --------------------
Total funds 14 15,738,155 12,746,430
=========== ===========

The financial statements were approved by the trustees on 9 April 2024 and signed on their behalf, by:

J Purvis

Trustee

The notes on pages 14 to 27 form part of these financial statements.

12

BADER COLLEGE

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 30 APRIL 2023

2023 2022
£ £
Cash flows from operating activities
Net income/(expenditure) 3,011,398 (141,038)
Adjustments for:
Gain on disposal of fixed assets - (708)
Gain on revaluation of investment property (63,000) (150,000)
Dividends and interest received (102,737) (96,382)
Depreciation 232,717 202,730
(Increase)/decrease in stocks (847) 7,206
Increase in debtors (48,045) (90,231)
Decrease in creditors (770,368) (210,668)
----------------------- -----------------------
Net cash (used in)/provided by operating activities 2,259,118 (479,091)
Cash flows from investing activities
Dividends and interest received 102,737 96,382
Purchase of property, plant and equipment (223,392) (55,800)
Disposal of property, plant and equipment - 708
------------------------- -------------------------
Net cash (used in)/provided by investing activities (120,655) 41,290
Cash flows from financing activities:
Increase in/(repayments of) borrowing (793,711) 793,711
------------------------ ------------------------
Change in cash in the year 1,344,752 355,910
Cash and cash equivalents at the start of the year 1,058,802 702,892
------------------------ ------------------------
Cash and cash equivalents at the end of the year 2,403,554 1,058,802
============ ============

13

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

1. Accounting Policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) – (Charities SORP (FRS 102)) and the Companies Act 2006.

The Charity meets the definition of a public benefit entity under FRS 102.

1.2 Basis of consolidation

The financial statements consolidate the accounts of Bader College and Herstmonceux Castle Estate Limited.

The financial statements have been prepared on a going concern basis. Annual budgets are prepared and approved by the Board of Trustees. Monitoring of the budget is undertaken via a review of monthly management accounts and meetings with budget holders as well as financial reports provided at twice yearly Board meetings. Forecast numbers compared to budget are prepared and submitted to Queen’s University, the Bader College parent company throughout the year. Forecast numbers are also included in papers submitted to the Bader College Board.

The charity has availed itself of Paragraph 3(3) of Schedule 4 of the Companies Act and adapted the Companies Act formats to reflect the special nature of the charity’s activities. No separate Statement of Financial Activities has been presented for the charity alone as permitted by Section 408 of the Companies Act 2006 and the SORP. The charity’s surplus, before consolidation, was £2,991,725 (2022: deficit of £89,119). The charity’s income, before consolidation was £9,740,243 (2022 - £4,912,828).

1.3 Going concern

Although there is a level of uncertainty moving forward following structural issues as disclosed in note 18 (post balance sheet events), the Trustees consider the entity to be a going concern and believe it appropriate to prepare these financial statements on a going concern basis. This is because Queen’s University has given assurances that it will cover Bader College’s (inclusive of its trading subsidiary, Herstmonceux Castle Enterprise Limited) day-today costs and necessary capital expenditure for the next 12 months, during which time the necessary repairs to the castle will commence.

1.4 Income

All income is included in the Statement of Financial Activities when the charity has entitlement to the funds, probability of receipt and the amount can be measured with sufficient reliability.

Income from charitable activities consist of tuition fees for the provision of education. Tuition fees are recognised as income in the year courses are held. Donations and investment income are recognised when receivable. Other income is recognised at point of sale or when the service has been provided.

Income from commercial trading operations includes the total income of the wholly-owned subsidiary, Herstmonceux Castle Estate Limited. All other income is recognised when receivable.

14

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

1. Accounting Policies (continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Academic costs comprise costs directly related to the charitable activity of education. This includes costs of staff directly related to the academic activity, travel, supplies and other academic costs.

Premises costs include all expenditure directly related to the general upkeep of the facilities. This includes costs of staff directly related to upkeep, supplies, utilities and costs associated with fees and renewals.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

Expenditure on commercial trading operations included the total expenditure of the wholly-owned subsidiary, Herstmonceux Castle Estate Limited.

Fundraising costs comprise costs incurred in inducing people and organisations to contribute financially to the charity’s work.

Termination benefits are accounted for on an accrual basis and in line with FRS102.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Renovations - 30 years
Plant and machinery - 5 years
Fixtures and fittings - 5 years
Motor vehicles - 3 years
Computers - 3 years

On 24 April 1996 the charity paid £9,500,000 for its land and buildings. Due to its unique nature, Herstmonceux Castle has not been depreciated. The asset is an historic castle originally constructed in 1441 and the asset therefore has a very long useful life. Any depreciation charge, and the accumulated depreciation, would therefore be immaterial. Given that the remaining useful economic life is more than 50 years, an annual impairment review is undertaken by the trustees.

15

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

1. Accounting Policies (continued)

1.7 Investments

The charity’s investment in its subsidiary trading company is accounted for at cost on the charity balance sheet. The net assets, funds and financial activity of the trading subsidiary are consolidated in the consolidated Balance Sheet and the consolidated Statement of Financial Activities.

Investment properties are valued at the fair value as at the reporting date.

1.8 Leasing

Rentals under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

1.9 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the SOFA.

1.10 Value added tax

The charity is exempt from levying value added tax on most services it provides, as these are largely educational in nature. For this reason, it is unable to fully recover value added tax which it suffers on goods and services purchased. The subsidiary trading company operates value added tax on a normal basis. Irrecoverable value added tax is included in the appropriate heading in the Statement of Financial Activities.

1.11 Pensions

The charity operated a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.12 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction, except for tuition and residence fees, which are translated at the agreed budgeted exchange rate. Exchange gains and losses are recognised in the Statements of Financial Activities.

1.13 Judgement and estimation

Estimates and judgements are continually evaluated and based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key areas open to judgement and estimation include depreciation (based on the expected useful economic lives of assets) and valuation of investment property assets (based on market based assumptions).

16

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

1. Accounting Policies (continued)

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.15 Status of Company

The charity is a private company limited by guarantee. Each member has a potential liability not exceeding one pound. The directors of the charity constitute trustees for Charities Act purposes. Bader College is also a registered charity in accordance with the Charities Act 2011. The registered office is Herstmonceux Castle, Hailsham, East Sussex, BN27 1RN.

2. Taxation

The company is a registered charity and is thus potentially exempt from taxation in respect of income or capital gains received within categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes.

3. Investment income

Total Total
funds funds
2023 2022
£ £
Rents and other similar charges 97,695 96,128
Bank deposit interest 5,042 254
----------------- -----------------
102,737 96,382
========= =========

17

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

4. Academic costs

Total Total
funds funds
2023 2022
£ £
Direct staff costs 1,213,244 1,025,636
External staff costs 627,653 530,445
Food and supplies 434,751 140,555
Laundry 35,088 6,182
Academic supplies 222,981 88,511
Equipment 99,165 83,552
Travelling 340,662 158,912
Student activities 51,633 76,970
Irrecoverable VAT 146,975 79,247
Administration costs (note 6) 271,012 181,037
Depreciation 44,061 28,683
Utilities 2,863 2,333
Housekeeping Supplies 46,943 14,473
Restricted Expenditure 83,267 72,274
Foreign exchange difference 86,644
------------------------ ------------------------
3,620,298 2,575,455
============ ============

5. Premises costs

Total Total
funds funds
2023 2022
£ £
Direct staff costs 517,866 412,352
Utilities 493,076 427,456
Equipment 51,069 21,229
Repairs and renewals 426,249 429,964
Irrecoverable VAT 167,417 100,917
Administration costs (note 6) 1,076,705 1,016,468
Depreciation 172,129 158,640
Travelling 28,276 10,215
External Staff Costs 21,691 4,245
Restricted Expenditure 363,909 100,000
------------------------ ------------------------
3,318,387 2,681,486
============ ============

18

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

6. Administration costs allocation

Administration costs allocation
Academic Premises Total
Costs Costs 2023
£ £ £
Direct staff costs 236,772 942,940 1,179,712
Telephone and fax 1,724 13,115 14,839
Printing, postage and stationery 1,308 2,633 3,941
Staff training 5,359 - 5,359
Professional fees 1,538 102,457 103,995
Bank charges 1,910 1,951 3,861
Computer supplies 5,359 7,718 13,077
General expenses 17,042 5,891 22,933
Donations - - -
-------------------------------- ------------------------------- --------------------------------
271,012 1,076,705 1,347,717
================ ================ ================
Academic Premises Total
Costs Costs 2022
£ £ £
Direct staff costs 155,767 876,712 1,032,479
Telephone and fax 1,776 13,441 15,217
Printing, postage and stationery 49 2,958 3,007
Staff training 5,070 8,159 13,229
Professional fees - 106,463 106,463
Bank charges - 2,286 2,286
Computer supplies 11,195 - 11,195
General expenses 7,180 6,449 13,629
-------------------------------- ------------------------------- --------------------------------
181,037 1,016,468 1,197,505
================ ================ ================

7. Net income

This is stated after charging:

This is stated after charging:
Total Total
funds funds
2023 2022
£ £
Depreciation of tangible fixed assets:
- owned by the charitable group 232,717 202,730
Auditor’s remuneration – group 17,975 14,133
Auditor’s remuneration – non-audit services 1,550 2,286
================ ===============

19

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

8. Staff costs

The average monthly number of employees during the year was as follows:

2023 2022
No No
The average number of employees during the year was: 80 69
================ ================
2023 2022
The number of higher paid employees was: No. No.
in the band:
£60,001 - £70,000 1 2
£70,001 - £80,000 3 -
£80,001 - £90,000 - 2
£100,001- £110,000 2 -
£120,001- £130,000 1 -
£130,001 - £140,000 1 1
================ ===============

The aggregate pension contributions made by the charity on behalf of higher paid staff was £19,320 (2022 - £16,922). The number of higher paid staff accruing benefits in defined contribution schemes was 8 (2022 – 5).

The total employee benefits received by the key management personnel of the charity were £629,682 (2022 - £621,538).

Total redundancy and termination payments were £2,128 (2022: £20,271).

No remuneration or expenses were paid to the trustees during the year. Indemnity insurance is purchased for the trustees and this cost is borne by Queen’s University.

Total Total
funds funds
2023 2022
£ £
Employee costs:
Wages and salaries 2,456,351 2,324,493
Social security costs 245,329 169,487
Pension costs 79,175 54,159
Staff Benefits 76,902 65,799
------------------- -----------------------------
Total 2,857,757 2,613,938
================ ===============

20

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

9. Tangible fixed assets
Freehold Plant & Motor Fixtures &
Property Machinery Vehicles Fittings Total
£ £ £ £ £
Charity
Cost
At 1 May 2022 12,078,670 52,683 48,151 568,834 12,748,338
Additions - 29,049 23,250 156,993 209,292
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
At 30 April 2023 12,078,670 81,732 71,401 725,827 12,957,630
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
Depreciation
At 1 May 2022 1,322,336 43,853 26,962 512,696 1,905,847
Charge for the year 128,227 7,576 19,827 60,560 216,190
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
At 30 April 2023 1,450,563 51,429 46,789 573,256 2,122,037
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
Net book value
At 30 April 2023 10,628,107 30,303 24,612 152,571 10,835,593
============= ============= ============= ============= =============
At 30 April 2022 10,756,334 8,830 21,189 56,138 10,842,492
============= ============= ============= ============= =============

21

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

9. Tangible
fixed		 assets
(continued)
Freehold Plant & Motor Fixtures &
Property Machinery Vehicles Fittings Total
£ £ £ £ £
Group
Cost
At 1 May 2022 12,078,670 148,706 48,151 626,268 12,901,795
Additions - 29,049 23,250 171,093 223,392
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
At 30 April 2023 12,078,670 177,755 71,401 797,361 13,125,187
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
Depreciation
At 1 May 2022 1,322,336 128,625 26,962 540,278 2,018,201
Charge for the year 128,227 11,438 19,827 73,225 232,717
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
At 30 April 2023 1,450,563 140,063 46,789 613,503 2,250,918
------------------------- ------------------------- ------------------------- ------------------------- -------------------------
Net book value
At 30 April 2023 10,628,107 37,692 24,612 183,858 10,874,269
============= ============= ============= ============= =============
At 30 April 2022 10,756,334 20,080 21,189 85,990 10,883,594
============= ============= ============= ============= =============

10. Investments

Rented land

The charity owns areas of arable land and pasture which do not form part of its operational assets, but which are let out as farmland and generate rental income. The land is held in the accounts at fair value as follows:

Fair value – Group and Charity 2023 2022
£ £
At 1 May 2022 2,519,000 2,369,000
Revaluation 63,000 150,000
-------------------- --------------------
At 30 April 2023 2,582,000 2,519,000
========== ==========

The fair value is based upon a formal report and valuation as at 16 May 2023, prepared in accordance with the RICS valuation Global Standards 2017 and where relevant the previous RICS Valuation Professional Standards UK January 2014/15 (the red book) and the International Valuation 2017 Standards (IVS). There are no restrictions placed upon the land or the income generated from it.

22

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

Equity

The charity has an investment in subsidiary – its holding of 100% of the issued share capital of £10,000 £1 ordinary shares in its subsidiary trading company, Herstmonceux Castle Estate Limited which is incorporated in England and Wales, company registration number 02902475.

The aggregate value of capital and reserves and the result for this undertaking for the financial year are as follows:

Capital and Profit for
reserves the year
Herstmonceux Castle Estate Limited 170,101 19,676
========= =========
11. Debtors Group Charity
2023 2022 2023 2022
£ £ £ £
Trade debtors 28,232 41,195 1,299 7,620
Amounts owed by group undertakings - - 228,478 327,094
Other debtors 2,375 3,340 2,375 3,340
Prepayments and accrued income 192,283 130,310 191,244 126,013
-------------------------------- ------------------------------ -------------------------------- --------------------------------
222,890 174,845 423,396 464,067
================ ================ ================ ================
12. Creditors:
Amounts falling due within one year Group Charity
2023 2022 2023 2022
£ £ £ £
Trade creditors 316,544 211,256 316,213 210,460
Other taxation and social security 21,236 31,032 4,801 31,011
Accruals and deferred income 184,987 317,672 127,612 212,626
Amounts owed to group undertakings 8,014 741,189 8,014 741,189
-------------------------------- ------------------------------- -------------------------------- --------------------------------
530,781 1,301,149 456,640 1,195,286
================ ================ ================ ================
13. Creditors:
Amounts falling due over one year Group Charity
2023 2022 2023 2022
£ £ £ £
Queen’s University Loan - 793,711 - 793,711
-------------------------------- ------------------------------- -------------------------------- --------------------------------
- 793,711 - 793,711
================ ================ ================ ================

23

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

14. Consolidated Statement of funds – year ended 30 April 2023

Brought Transfers Gains/ Carried
forward Income Expenditure In/out (losses) forward
£ £ £ £ £ £
General funds
General fund 10,062,132 7,845,742 (6,491,509) - - 11,416,365
Non charitable trading funds 286,379 755,028 (521,433) - - 519,974
- HCE
Revaluation reserve 2,178,999 - - - 63,000 2,241,999
----------------------- ----------------------- ----------------------- ------------------------ ----------------------- -----------------------
Total unrestricted funds 12,527,510 8,600,770 (7,012,942) - 63,000 14,178,338
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Restricted funds
Musicians in residence - 61,847 (61,847) - - -
Queen’s University - 1,713,851 (362,031) - - 1,351,820
University of Waterloo 3,494 22,538 (8,377) - - 17,655
Jennifer Medves - 800 (575) - - 225
Lund Trust - 8,210 (8,210) - - -
Waitrose - 500 - - - 500
Bader Donation 14,895 - (6,136) - - 8,759
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Total Restricted Funds 18,389 1,807,746 (447,176) - - 1,378,959
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Total funds 12,545,899 10,408,516 7,460,118 - 63,000 15,557,297
============ ============ ============ =========== =========== ============

The designated fund for strategic initiatives represents those funds designated by the trustees for strategic initiatives which cannot be managed within the annual operating budget.

The general reserve fund represents those funds which are unrestricted and not designated for other purposes.

The restricted fund for musicians in residence is restricted for use in that specific programme.

The restricted fund for University of Waterloo is part of a larger grant and is to fund the salaries of academic researchers.

The restricted fund for Bader donation is a donation to be used for the development of a certificate in global engagement.

24

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

14. Statement of funds (continued)

Consolidated Statement of funds – year ended 30 April 2022

Brought Transfers Gains/ Carried
forward Income Expenditure In/out (losses) forward
£ £ £ £ £ £
Designated funds
Strategic initiatives 725,008 - - (725,008) - -
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
General funds
General fund 9,703,376 4,718,414 (4,998,023) 725,008 (86,644) 10,062,132
Non charitable trading funds
- HCE 210,242 501,515 (425,378) - 286,379
Revaluation reserve 2,028,999 - - - 150,000 2,178,999
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
11,942,617 5,219,929 (5,423,401) 725,008 63,356 12,527,510
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Total unrestricted funds 12,667,625 5,219,929 (5,423,401) - 63,356 12,527,510
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Restricted funds
Musicians in residence 1,312 50,309 (51,621) - - -
Innovation Fund - 100,000 (100,000) - - -
University of Waterloo - 21,043 (17,548) - - 3,494
Bader donation 18,000 - (3,105) - - 14,895
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Total Restricted Funds 19,312 171,352 (172,274) - - 18,389
----------------------- ----------------------- ----------------------- ----------------------- ----------------------- -----------------------
Total funds 12,686,937 5,391,281 (5,595,675) - 63,356 12,545,899
============ ============ ============ ============ ============ ============

25

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

15. Consolidated Analysis of net assets between funds

Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Tangible fixed assets 10,874,269 - 10,874,269
Investment property 2,582,000 - 2,582,000
Current assets 1,252,850 1,378,959 2,631,809
Creditors due within one year (530,781) - (530,781)
Creditors due in more than one
year - - -
-------------------------------- ------------------------------- --------------------------------
14,178,338 1,378,959 15,557,297
================ ================ ================
Unrestricted Restricted Total
funds funds funds
2022 2022 2022
£ £ £
Tangible fixed assets 10,883,594 - 10,883,594
Investment property 2,519,000 - 2,519,000
Current assets 1,219,776 18,389 1,238,166
Creditors due within one year (1,301,149) - (1,301,149)
Creditors due in more than (793,711) - (793,711)
one year
-------------------------------- ------------------------------- --------------------------------
12,527,510 18,389 12,545,899
================ ================ ================

16. Ultimate parent undertaking

The charity is a subsidiary undertaking of Queen’s University at Kingston (Canada) incorporated in Canada. The largest group in which the results of the charity are consolidated is that headed by Queen’s University at Kingston (Canada), incorporated in Canada. The consolidated accounts of this university are available to the public and may be obtained from Queen’s University, Kingston, Ontario, Canada. No other group accounts include the result of this charity.

17 . Related party transactions

During the year the charity received income of £7,214,846 (2022: £3,115,994) from Queen’s University relating to tuition and residence fees. A further £1,847,153 (2022: £1,463,255) was received as grants and donations from Queen’s. Total expenditure of £235,317 (2022: £238,987) was payable to Queen’s to cover costs incurred by Queen’s on the charity’s behalf. At the balance sheet date £8,014 (2022: £1,534,899) was owed to Queen’s University.

During the year a distribution of £Nil (2022: £Nil) was received from Herstmonceux Castle Estate Limited.

26

BADER COLLEGE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

17 . Related party transactions (Continued)

Other recharges of £241,308 (2022: £169,320) were made between Bader College and Herstmonceux Castle Estate Limited. Recharges of £24,858 (2022: £33,120) were made from Herstmonceux Castle Estate Limited to Bader College. At the balance sheet date £228,478 (2022: £327,094) was due from Herstmonceux Castle Estate Limited.

18 . Post balance sheet events

In November 2023, Bader College received the results of a structural survey which showed that there were major structural issues with the South gatehouse of the castle. In the interest of safety, the decision was made to restrict access to the castle, and not allow anyone into the South side of the Castle.

Due to this, Queen’s University made the decision not to send any students to Bader College from the winter term onwards until the problems are resolved. This has meant that the majority of Bader College’s income (including that of its trading subsidiary, Herstmonceux Castle Enterprises Limited) has ceased until repair works to the castle are undertaken and Queen’s University is willing to send students to the College again, and it is now reliant on financial support from Queen’s University to ensure it can meet its ongoing expenses.

Following this news, the Bader College board of Trustees made the decision to begin a redundancy process in January 2024 to cut costs whilst income is reduced, and 60 members of staff were included in the original at risk pool. As the redundancy consultation process is still ongoing and proposals are being considered, the cost and impact of the redundancies is not yet known. All three members of the senior management team elected to take voluntary redundancy in February 2024.

27