Charlty Number: 1025387
Company Number: 02837809
Bader College
Trustees, report and financial statements
For the year ended 30 Aprll 2024
•ADZQE2H6*
0310412025
COMPANIES HOUSE
#294

BADER COLLEGE
(A Company Limlted by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees, Report lincludin8 Strategic Report)
Independent Auditorfs Report to the Members of Bader College
Consolidated Statement of Financial Activities
io
Consolldated Balance Sheet
li
Charity Balance Sheet
12
Consolidated Statement of Cash Flov
13
Note5 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 ENOED 30 APRIL 2024
Trustees
P Deane
S Den Otter
M Evans
S GiNin
J Knowles
J Purvi5
Company registered number
02837809
Charity registered number
1025387
Reglstered office
Herstmonceux Castle, Hailsham, East Sussex, BN27 IRN
Company Secrelary
R Coupland
Independent auditor
Haysmac LLP, 10 Queen Street Place, London, EC4R IAG
8ankers
National Westminster Bank Plc, l Hl8h Street, Hailsham. East Sussex, BN27 IAi
SollcStors
Farrer & Co, 66 Lincolns Inn Fields, London, WC2A 3LH

8ADER COLLEGE
(A Company Limited by Guarantee)
TRUSTEES, REPORT (INCLUDING STRATEGIC REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
The trustees of Bader College IBCI hereby present their Annual Report. together with the audited financial statements
for the year ended 30 April 2024.
STRUCTURE, GOVERNANCE A14D MANAGEMENT
The company was established on 15 July 1993 by Queen's University (Canada) as a company limited by guarantee Ino.
028378091 in En8land and Wales and re8lStered as a charity with the Charity Commission Ino. 10253871. It is
governed by its Memorandum and Articles of Association dated IS July 2003 and amended by a resolution passed on
2 December 2003.
HERSTMONCEUX CASTLE ESTATE LIMITED
The charitws wholly owned trading subsidiary carries Out the general day to day running of the gardens and grounds of
Her5tmonceux Castle, tO8ether with ancillary operations such as weddings and conferences. The subsidiary company
donates any profit5 8enerated to the charity each year under the United Kingdom gift aid procedures. Details of this are
shown in the note5 to the financial statements.
Olreclofs and Trustees
For company law purposes, the trustees are also dlrectors of the company/charity. As at 30 April 2024. there were slx
trustees- four tru5tees' resident in the United Kin8dom and two trustees resident in Canada. The trustees who served
durin8 the year or have been appointed subsequently were..
A Boggs (Resigned 21 November 20231
P Deane
S Den Otter IAppointed 21 November 20231
M Evans (Appointed 21 November 20231
K Fountain (Resigned 30 June 20231
S Girvin (Appointed 30 June 20231
J Knowles
R Luce.Kapler IResi8ned 2 1 November 20231
J Purvis
No trustee has any interest in the share capital of any 8roup undertaking or received any remuneration from the
charity during the current or precedin8 year.
Day to day management of the charity durin8 the year was delegated to a management team comprising the Vice-
ProvostlExecutive Oirector Janine Griffiths-8aker. the Director of Finance & Assets (Valerie Lee), the Academic Director
(Anna Taylor), the Enterprise Director (Julie Ryan) and the Oirector of Corporate Development (Duncan Adams), all
resigned during the fiscal year 2023-2024. Dr Jennifer Medves was appointed to administer the management of the
th
charity as of 15 February 2024 as a Special Advisor to the Chair of the Board. During the audit year there were three
people who were responsible for financial management: Kleran Price, Matthew Oean, and Valerle Lee.
Trustee appointment and training
The tru5tee5 have the power at any time to appoint any per50n to fill a casual vacancy or a5 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 Article5 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 8overn the trustees of a charity in the UK are explained and they are provided with the 8uidelines set
by the Charity Commission.

BADER COLLEGE
IA Company Limited by Guarantee)
TRUSTEES, REPORT (INCLUDING STRATEGIC REPORT}
FOR THE YEAR ENDED 30 APRIL 2024
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 Ipotentiall trustee is invited to BC to meet the Senior administration team on site to
8et a clearer picture of the day-to-day worklngs of the charlty.
OBJECTIVES AND ACTIVITIES
Objertives of the charity
The principal objective of the charity is to contrlbute 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 nationalitles may learn and work together for both collective and public benefit.
Structurèlly, Bader College is an Integral component of Queen's Universitys wide-rangin8 international
programmes. To achieve thls objective, the charlty Is developin8 and providing..
A varied offering of academic programmes for undergraduate and post-baccalaureate students, and
academics whose interests are oriented towards the United Kingdom, Europe, and wider global
issues.
A venue and focal point for internatlonal conferences and meetings on similar areas of public interest.
An enhanced educational, social, and cultural environment for the local community, throu8h its
steward5hlp of the unigue heritase of Herstmonceuxcastle.
Activilies durlng the year included:
The academic programmin8 continued throu8hout 2023, although all courses were offered online from mid-
November until the end of the year. Queen'5 University made the dlfficult decision to close all academlc
programmin8 due to significant renovation and conservation of Her5tmonceux Castle requSrements. All students
attended Queen's Unlversity in Canada in the winter term of 2024.
The British Summer School hired space at Bader College for the summer of 2023 to offer pro8ramming for
international secondary school students includin8 usin8 the science laboratories.
The senior management team In-31 were offered redundancy in latejanuary 2024 and accepted the conditions of
redundancv.
The new senior mana8ement team as of February 15, 2024, included J Medves, M Oean, T Cody, and K Renaud
who provided 8uidance and man38etnent during the redundancy of all faculty and some staff members who were
involved in conferences, weddings, and other aetivities. Some members of staff decided to leave voluntarily to
take up positions in other jobs. The remaining staff In-271 were in security, gardens and grounds, and a small HR
and finance team to support the administration of Bader College and Herstmonceux Castle Estate.
Gould Baxter- Architects and Chartered SuNeyors were hired to conduct a Quinquennial Survey of the castle and
alerted the senior management team to the potential problems associated with the gatehouse in the south
elevation. Gould Baxter wa5 then hired to undertake the supervision and administration of the conservation and
restoration of the entire south elevation. All repairs are required to receive approval from the Secretary of State
for Historic En8land a5 the Castle is listed Grade l and 15 a Scheduled Monument.
As students are not present, Queen's University funded several other infrastructure projects including a new WIFI
fire alarm system in Bader Hall and the Castle. a new waste management treatment plant. and a replacement oil
tank for heating oil for the Castle. All projects require extensive reports and planning procedures because of the
proximity to the Scheduled Monument.
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 £417,41112023: £1,051,978) were made to

BADER COLLEGE
(A Company Limited by Guarantee)
TRUSTEES, REPORT {INCLUDING STRATEGIC REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
our students. BC also supports its public benefit role via student engagement in the local community where our
Student5 undertake volunteer placements and activities, including fundraising for varlous charities, and participation in
events under the aegis of local charitv 8roups.
The BC Concurrent Education program places student teachers in local primary and secondary schools where they
assist teachers with tasks such as group learnin8 and literacy. The Health Sclence5 program include5 the placement of
students in palliative care. dementia care, and home care settin8s, providin8 excellent experiences for students as well
as increasing the College's visibility as a community Partner in the local afea. In addition, BC faculty host various
public lectures and concerts throughout the year in addition to takin8 part in the annual National Garden Scheme,
opening our 8ardens. and donating the income to charity.
Remvnefatlon of Key Mafia£ement Personnel
Remuneration of key management personnel is set by the boèTd of tTUStee5. Factors consldered include the
responsibilities of the post, local and regional comparative salaries and comparative Salaries paid to other members of
staff.
FINANCIAL RESULTS AND RESERVES
Financlal and risk rnana8ement oblectlves and pollcles
The international nature of its activities means that BC is exposed to risks beyond those which affect similar
institutions operatin8 solely within the United Kingdom. The tru5tee5 and manasement continually monitor these
risks with the objective of minimi2in8 them and mitigating their effect. Periodic formal rlsk assessment5 are carried
out in conjunction with Queen's University in addition to BC creating its own reglster of key risks. More informal
assessments are also carried out by management at BC on a frequent and regular basis.
The key flnancièl objective is to maintain financial viabllity thfOU8h a stron8 System of flnancial 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 infomiation is provided to budget holders and to the
trustees. and the bud8et set at the beginnin8 of the year is revised as student numbers are confirmed, with corrective
action taken where necessary.
Piinclpal r•sks and uncertainties
The key risk to the charity is a sudden or perslstent 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
throu8h the continuous review of our academic pro8rammin8 and recruitment 5trate8ies and have been
implementing the recommendation5 of both the Queen's University Enrolfflent Task Force Report and External
Education Quality Committee.
Our Income 55 also strongly dependent on the exchan8e rate between the Canadian Dollar and the UK Pound Sterling.
We mitl8ate this risk through a program of currency hedging overseen by the Office of the Vice Principal (Finance and
Qperationsl 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 char8ed with maintaining and improving a high-profile a55et, Herstmonceux Castle, an important historical site in
East Sussex. Herstmonceux Castle is also one of the hi8hest profile capital assets associated with Queen's University.
On 25 October 2023 the college was provided with a report from its structural

BADER COLLEGE
IA Company Limited by Guarantee)
TRUSTEES. REPORT (INCLUDING STRATEGIC REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
engineers that the building posed a risk to safety. The decision was made to close the Colle8e until at least summer
2025 to undertake essential work to enable the College to reopen as soon as possible. As anticipated, this has had an
impact on the chariVs income for Financial Years 2024 and 2025. Queen's have given financial support to pay for the
structural work required and the day to day running of the charity. The work is currently ongoing and scheduled to
finish in October 2025. A Serious Incident Report has been filed with the Charity Commission and relevant local and
national stakeholders, includin8 Companies House. In the meantime, outside commercial activities have continued ta
operate giving the public admission to the 8ardens and café.
Financial results
The financial results for the year show a surplus of £1.224,30312023: £3,011,398). The fi8ures include the positive
impact of £668.00012023= £63,000) arising from the revaluation of investment property.
The current year results include a cash injection from Queen's University of £4,215,75012023'. £2,722,062). Excludin8
this, the underlyin8 results would have been a deficit of £2,991,44712023'. surplus of £289,336).
The trustees have reviewed the balances of BC and noted unrestrlcted funds of £15,534,30212023.' £14.178,338}. Thls
is represented by £14.460.584 tied up In fixed assets12023'. £13,456,269) and net current assets of £2,604,59012023.'
£2.631,8091.
The subsldlary, Herstmonceux Castle Estate Limlted, made a loss durin8 the year of £2,08212023'. profit of £19,676)
and ended the year with net liabilities of £ 172,18312023.. £170,1011.
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 Jantsary 2020. Queen's fulty supports the activities of BC and has provided financial
support during the year.
The trustees agree that this policy will be reviewed on a re8ular ba51s.
Goln8 concern
As noted above (see "Principal Risks and Uncertainties"). si8nificant Structural Issues associated with sections of the
Castle necessltated its c105ure, and the closure of the College. in November 2023. The charity has received a written
report from a detailed survey which provided detai15 to assess the cost of repairs and options available for ongoing
charitable activities whilst renovations are being made. As previously mentioned, Queens have given financial 5UPPOrt
for the cost of the structural work and for the day to day running of the charity. This support will contlnue for at least 12
months from the date of these accounts being si8ned.
8ader College therefore continues to adopt the 80in8 concern basis of accounting in preparin8 the financial statements.
FUTURE PLANS
The future academic pro8rammin8 is bein8 developed by Queen's Unlverslty and is guided by the UN Sustainable
Oevelopment Goals and the mission of Bader College to offer excellence in education to international students from
Queen's University and other universitie5 around the world.
The personnel of 8ader College have ensured public access to the 8arden5 and grounds and limited access to the Castle
with guided tours while planning to offer in 2025 a full suite of activities including weddings, events and education
programs. As required the staff complement will increase to ensure a safe and enjoyable experience for all visitors.
students and their families.

BADER COUEGE
IA Company Limited by Guarantee)
TRU5TEES' REPORT (INCLUDING STRATEGIC REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
STATEMENT OF TRU5TEES' RESPONSIBILITIES
The trustees (who are also directors of Bader College for the Pufposes of company lawl are responsible for
preparing the Trustees, Report (including the Group Strategic Reportl and the financial statements in accordance
with applicable law and United Kin8dom A¢countin8 Standards Iunlted Kingdom Generally Accepted Accountin8
Prarticel.
Company law require5 the trustees to prepare finandal statements for each flnancial year. Under company law the
trustees must not approve the financial statements unless they are satisfied that they give a true and falr view of the
state of affairs of the charitable company and the group and of the Income and expenditure, of the charitsble group
for that period. In preparing these financial statements the trustees are required to..
• selert suitable accoufttin8 policies and apply them¢ons1Stently
observe the methods and principles in the Charities SORP
make judgements and èccountlng estimates thèt ère reasonable and prudent
• state whether applicable UK Accounting Stsndards have been followed, subJecl to any materlal depJrtures
disclosed and explained in the financial statements
prepare the financial statements on the goin8 concern basis unless it is inappropriate to presume that the
charltable group wlll continue in operatlon.
The trustees are responsible for keeping adequaie accountln8 records that are sufficient to show and explaln the
¢harltable company's and 8roup's transartlons and dlsclose with reasonable accurary at any tlme the financial
position of the charitable group and enable them to ensure that the financial statements comply wlth the Companies
Act 2006. They are also responsible for safeguardin8 the assets of the charitable company ènd the group and hence
for takin8 reasonable steps for the prevention and detection of frdud and other irregularitles.
Disc105ure of Informatlon to audltor
Each of the persons who are trustees at the time when this Trustees, Report is approved has confirmed that:
so far as that trustee Is aware, there Is no relevant audit information of whl¢h the charltable 8roup's audltor 15
unaware. and
that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any
Informatlon needed by the charitable group's audltor In connectlon wlth preparln8 Its report and to establlsh
that the charltable group's auditor is aware of that information.
This report, in¢orporatln8 the Group Straiegic Report. was approved by the trustees, in their capacity 4$ company
dlrectors, on 3 March 2025 and signed on their behalf by,.
J Purvis
Trustee

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 Colle8e for the year ended 30 April 2024 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, includin8 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 Kin8dom Generally Accepted Accountin8 Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the 8roup and parent charitable company's affairs as at 30 Aprll 2024
and of the group's net movement in funds, including the income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Practice; and
have been prepared in accordance with the requirements af the Companies Act 2006.
8a51s for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law.
Our responsibilltles under those standards are further described in the Auditor's responsibilities for the audit of the
financial statement5 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 FRCS 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 ba515 for our opinion.
Concluslons relatlng lo ioln8 Concern
In auditing the financial Statements, we have concluded that the trustees, use of the 8oin8 concern basis of accountin8
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 a5 a goin8
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibllities of the trustees with respect to 80in8 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 otherwlse expllcltly stated in our report. we do not express any form of assurance conclusion thereon.
In connection with our audit of the flnancial statements, our responsibility is to read the other Information and, In doln
so. consider whether the other information is materially incon515tent 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 mi55tatement in the
financial statements or a material mSsstatement of the other information. If. based on the work we have performed,
we conclude that there is a material mlsstatement of this other infomiation, 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..
the information 8iven in the Tru5tees' Report (which includes the strategic report and the dirertors, report
prepared for the purposes of company lawl for the financial year for which the financial statements are
prepared is conslstent with the financial statements. and
the strate8lt report and the directors. report included within the Trustees. Report have been prepared in
accordance with applicable legal requirements.

BADER COLLEGE
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'5 REPORT TO THE MEMBERS OF BADER COLLEGE
Matters on which we are required to report by exceptlon
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 rnaterial 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..
adequate accounting records have not been kept by the parent charStable company, or returns adequate for
our audit have not been received from branches not Vlslted by us- or
the parent charitable company financial statements are not in agreement with the accounting records and
returns,. or
certain disclosures of trustees. remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Responsibllltles of trustees for the financial stalements
As explained more fully in the trustees, responsibilities statement set out on pa8e S, the trustees (who are also the
directors of the charitable company for the purposes of company lawl are responsible for the preparation of the
financial statements and for being satisfied that they 8ive a true and fair view, and for such internal control as the
trustees deterrnine 15 necessary to enable the preparation of flnancial statements that are free from material
m155tatement, whether due to fraud or error.
In preparln8 the financlal statements, the trustees are responsible for assessin8 the group's and the parent charitable
company's ability to contlnue as a 80in8 concern, disclosin8, as applicable. matters related to 80ing concern and usin8
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.
Audltorfs responslbllltles lor the audlt of the flnanclal 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 auditorfs report that includes our opinion.
Reasonable assurance is a hi8h level of assurance, but Is not a guarantee that an audit conducted in accordance with
ISAS IUKI will always detect a material mi55tatement when it exists. Misstatements can arise from fraud or error ond
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.
Irregularitles, including fraud, are instances of non-cornpliance with laws and regulations. We design procedures in line
wlth our responsibilities, outlined above. to detect material misstatements in respect of irregularities, includin8 fraud.
The extent to which our procedures are capable of detectlng 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
re'gulations and we considered the extent to which non-compliance mi8ht 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 mana8emenVs incentives and opportunlties for fratsdulent manipulatlon of the financial statements
(including the risk of override of controls), and concluded that the risk was low. Audit procedures performed by the
en8a8ement team included..
Discussions with management Includin8 consideration of known or suspected instances of non-compliance wlth laws
and regulation and fraud-
Evaluating mana8emenYs controls designed to prevent and detert irregularities-
Identifying and testing journals,. and
Challenging assumptions and judgements made by management in their critical accounting estimates

BADER COLLEGE
(Acompany 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 regardin8
irregularities occurrin8 due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion,
omission or misrepresentation,
A further d¢scription of our responsibilities for the audit of the financial statements is located on the Financial Reportin8
Council's website at.. www.frc.or
auditorsres
onsibilities . This description forms part of our auditorfs report.
Use of our ieport
This report is made solely to the charitable company'5 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 Audltor'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 thi5 report, or for the opinions we have formed.
Lee Stokes Isenior Statutory Auditor)
For and on behalf of Haysmac LLP, Statutory Auditors
10 Queen Street Place
London
EC4R IAG
Date: 2 April 2025

BADER COLLEGE
IA Company Limited by Guarantee)
CONSOLIDATEO STATEMENT OF FINANCIAL ACTIVITIES Ilncluding Income and Expenditure Account)
FOR THE YEAR ENDED 30 APRIL 2024
Unrestfi¢ted
funds
2024
Restrirted
lunds
2024
Total
funds
2024
TotJl
funds
2023
Note
Income from:
Donatlons
Charitable activitie5
Commercial trading operations
Investments
Other
70,655
9,045,331
75S,028
102,737
434,765
5,490.890
641,693
113,544
455,901
826,826
6,317,716
641.693
113,544
455,901
Totsl in¢ome
6,702,028
826.826
7,528,854
10,408,516
Expendlture on.,
R•lslng funds
Commercial tradlng operation5
Charitable activities:
Academic costs
Premlses tost5
480,671
480,671
521,433
2.079,987
3.453,406
40,504
917.983
2.120,491
4,371,389
3.620,298
3,318,387
Total expenditllfe
6.014,064
958.487
6,972,551
7,460,118
Net Sncomellexpendlturè) before
re￿luatIOn of investment propertv
687,964
1131.6611
556,303
2,948.398
Re¥aluatlon of inv￿trnent propertv
io
668.000
668,000
63,000
Net incomellexpenditurel
1.355,964
1131,6611
1,224,303
3,011.398
Net movement In funds for the yèar
1.355,964
1131,6611
1,224,303
3,011,398
Total funds at l May 2023
14,178,338
1,378,959
15,557,297
12.545,899
Total funds at 30 April 2024
15,534,302
1,247,298
16,781,600
15,557,297
All actlvitles relate to continuin8 operations.
The notes on pages 14 to 27 form part of these financial statements.
io

BADER COLLEGE
Registered number.. 2837809
(A Company Limited by Guarantee)
CONSOUDATED BALANCE SHEEr
AS AT 30 APRIL 2024
2024
2023
Note
Fixed assets:
Tangible assets
Investment property
11.210,584
3,250,000
10,874.269
2,$82,000
io
14,460,584
13,456.269
Current assets:
Stocks
Debtor5
Cash at bank
5.36S
222,890
2,403,554
li
114,981
2,533,441
2,684,422
2.631,809
Credltors: amounts falllnB due wlthln
one year
12
1327,4061
1530,7811
Net Current assets
2,321,016
2,101,028
Total assets less current Ilabllltles
16,781,600
IS,S57,297
Nel •$sets
16,781,600
15,557,297
Charity funds
Restricted funds
Unrestricted fvnds..
General funds
14
14
1,247,298
1.378,959
15,534,302
14,178,338
Totsl lunds
14
16,781,600
15,S57.297
The financial statement5 were approved by the trustees on 3 March 2025 and signed on their behalf, by-
J Purvls
Trustee
The notes on pages 14 to 27 form part of these flnanclal statements.
li

BADER COLLEGE
Registered number: 2837809
{A Company Limited by Guarantee)
CHARITY BALANCE SHEET
AS AT 30 APRIL 2024
2024
2023
Note
Fixed assets:
Tangible fixed assets
Investment property
Investments
11,188.318
3,250,000
10,000
10,835,593
2,582,000
10,000
io
io
14,448,318
13,427,593
Current •￿t¢S..
Stock
Oebtors
Cash at bank
4,603
423,396
2,339,202
li
443,144
2,389,692
2,832,836
2,767,201
edltors: amounts fallin8 due wlthln
one year
12
1317,3691
14S6,6401
Net current asset5
2,515,467
2,310,561
Total assets less current liabilities
16,963,785
15,738,154
Net 4ssei$
16,963,785
15,738,154
CharSty funds
Restricted funds
Unrestricted funds
General funds
14
14
1,247.298
1,378,959
15,716,487
14,359,195
Total funds
14
16.963.785
15,738,154
The flnanclal statements were approved by the trustees on 3 March 2025 and slgned on thelr behalf, by..
J Purvis
Trustee
The notes on pages 14 to 27 form part of these financial statements
12

8ADER COLLEGE
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 30 APRIL 2024
2024
2023
Cash flow5 from operating activities
Net income
Adjustments for..
Gain on revaluation of investment property
Dividends and interest received
Depreciation
Oecrease/lincreasel in stocks
Oecreasellincrea5el in debtors
Decrease in creditors
1,224.303
3,011.398
1668.0001
1113.5441
354.155
5.365
107.909
1203.3751
163.0001
1102,7371
232,717
18471
148.0451
1770.3681
Net cash piovided by operatlng actlvltles
706,813
2,259,118
Cash IIow5 from In¥estln8 a¢tlvltles
Dividends and interest received
Purchase of property. plant and equipment
113.544
{690,4701
102,737
1223.3921
Net cash provided by investing activlties
{576,9261
1120.6551
Cash Ilows from finanting activltles..
Repayments of borrowin8
1793,7111
Change In cash In the year
Cash and cash equlvalents at the start of the yeai
129,887
2,403,554
1.344.752
1,058,802
Cash and cash equlvalents at the end of the year
2,533,441
2,403,554
13

BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accounting Policles
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 IFRS
10211second edltSon effective l January 20191- Icharities SORP {FRS 10211 and the Companies Act 2006.
The Charity meets the definition of a public benefit entity under FRS 102.
Ba55s ol consolldat•on
The financial statements consolidate the accounts of 8ader College and Herstmonceux Castle Estate Llmited.
The financial statements have been prepared on a 80ing concern basis. Annual budgets are prepared and approved
by the Board of Trustees. Monitoring of the bud8et is undertaken via a review of monthly mana8ement 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 submltted to Queen's University, the 8adef College parent
company throu8hout the year. Forecast numbers are also included in papers submitted to the Bader College Board.
The charity has availed itself of Paragraph 3131 of Schedule 4 of the Companies Act and adapted the Companies
Act formats to reflect the special nature of the charitrfs 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 charivs surplu5, before consolidation, was £1.559,223 {2023: £2,991,725). The charitws income, before
consolidation was £7,OSO,26612023.' £9.740,2431.
1.3 Goin8 ton¢ern
The Trustees have reviewed their forecasts for the foreseeable future. The Trustees consider that the Group will
have adequate resources to continue to fund their activities for the foreseeable future, and as such there is no
material uncertainty relating to goin8 concern. They believe the goin8 concern basis of accounting is appropriate
for these financial statements.
1.4 Income
All income is included in the Statement of Financial Artivities 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 course5 are held. Donations and investment income are recognised when receivable. Other
income is reco8nised at point of sale or when the service has been provided.
Income from commerci31 tradin8 operations Includes the total income of the wholly.owned subsidiary,
Herstmonceux Castle Estate Limited. All other income is recognised when receivable.
14

BADER COLLEGE
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accounting Policies (contlnued)
Expenditure
All expenditure is accounted. for on an accruèls 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 activlty of educatlon. This includes costs of staff
directly related to the academic activity, travel. supplies and other academic costs.
Premises costs include èll expenditure directly related to the general upkeep of the facilities. Thls Includes costs of
staff directly related to upkeep, supplies. utilities and costs associated with fees and renewals.
Governance costs include those costs associated with meetin8 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 tradin8 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
charivs work.
Terminatlon benefits are accounted for on an accrual basis and in line with FRSIO2.
Tangible fixed assets and depreciation
Tangible flxed assets costin8 more than £500 are capitalised and Included at cost Including any incldental expen5e5
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 estifflated 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. Oue to its unique nature, Herstmonceux
Castle has not been depreciated. The asset Is an historic castle originally constructed in 1441 and the 355et
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 rnore than 50 years, an annual impairment review
is undertaken by the trustees.
15

BADER COLLEGE
(A Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accountln¥ Pollcles Icontlnued)
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, bein8 the estimated sellin8 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 carryin8 amount is reduced to
Its selling price less Costs to complete and sell. The Impairment loss is recognlsed immedlately In the SOFA.
1.10 Value added tax
The charity is exempt from levyin8 value added tax on most services it provides, as these are lar8ely 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 tradin8 company operates value added tax on a normal basis. Irrecoverable
value
added tax is included in the appropriate headin8 in the Statement of Financial Activities.
1.11 Pensions
The charity operated a defined contrlbution pensSon scheme ènd the pension charge represents the amounts
payable by the charity to the fund in respect of the year.
1.12 Forel8n ¢yrrencies
Monetary asset5 and liabilities denominated in foreign currencies ère 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 lud8ements 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 bosed assumption51.
16

BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Accounilng Policie5 (contlnuedl
1.14 Fund accountin8
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of
the general oblectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aslde 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 fund5 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 char8ed against the specific fund. The aim and use of each restricted fund is set out in the notes to the financlal
statements.
Investment income, 8ains 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 Charitie5 Act 2011. The re8lStered offlce is Herstmonceux Castle, Hailsham, East
Sussex. BN27 IRN.
Taxatlon
The company is a re8lStered charity and is thus potentially exempt from taxation In respect of income or capltal
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 charitablp piirpn4p5.
Investment Income
Totsl
funds
2024
Total
funds
2023
Rents and other similar charges
8ank deposit interest
81,539
32,005
97,695
5,042
113,544
102,737
17

BADER COLLEGE
(A Cornpany Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
4. Academic tosls
Total
lunds
2024
Total
funds
2023
Direct staff costs
External staff costs
Food and supplies
Laundry
Academic supplies
Equipment
879,847
212,292
196,065
17,850
31,012
45,336
1,213,244
627,653
434,751
35,088
222,981
99,165
E- ji
Travelling
Student activities
Irrecoverable VAT
Administration costs (note 61
Depreciation
Utilities
Housekeeping Supplies
Restricted Expenditure
194,270
14,142
IS9,686
228,437
68,835
3,869
28,345
40,505
340.662
51.633
146,975
271,012
44,061
2,863
46,943
83,267
2,120,491
3.620,298
Preffllses costs
Total
funds
2024
Total
funds
20Z3
Direct staff costs
570,146
396,879
43,136
323,200
196.343
1,623,676
268,911
12,866
25.513
910,719
517,866
493,076
51,069
426,249
167,417
1.076,705
172,129
28,276
21.691
363.909
Equipment
Repairs and renewals
Irrecoverable VAT
Administration costs (note 61
Depreciation
Travellin8
External Staff Costs
Restricted Expenditure
4.371,389
3,318,387
18

BADER COLLEGE
(A Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
6. Adminlstration costs allocation
A¢ademl¢
Costs
Preml$•s
Costs
Tot41
2024
Direct staff costs
Telephone and fax
Printing, postage and stationery
Staff training
Professlonal fees
Bank charges
Computer supplies
General Éxpenses
194,403
1.209
911
3,911
1,274
1.549
9.528
15,6S2
1,469.640
13,364
1,327
7,147
67,130
1.438
1,758
61,872
1,664,043
17,567
2,697
13,329
82,459
3,601
13,605
93,453
228.437
1,623,676
1,890,754
Academlc
Costs
Prem15e$
Costs
Total
2023
Direct staff costs
Telephone and fax
Printin& postage and stationery
Staff training
Professional fees
Bank charges
Computer supplies
General expenses
236.772
1,724
1,308
5.359
1,538
1.910
5.359
17.042
942,940
13,115
2,633
1,179,712
14,839
3,941
5,359
103,995
3,861
13,077
22,933
102.457
1,951
7.718
5.891
271.012
1,076.705
1.347,717
Net Income
This 15 Stated after charging..
Total
funds
2024
Total
lunds
2023
Depreciation of tan8ible fixed assets..
owned by the charitable group
Auditor's remuneration - group
Auditor'5 remuneration - non.audit sernices
354,155
20,550
3,000
232,717
17,975
1,550
19

BADER COLLEGE
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
8. Staff cost5
The average monthly number ofemployees durin8 the year was as follows..
2024
No
2023
The average number of employees during the year was..
83
80
2024
No.
2023
No.
The number of hi8her paid employees was:
in the band:
£60,001 . £70,000
£70,001- £80,000
£90,001- £100,000
£ioo,ooi- £iio,000
£120,001- £130,000
£130,001- £140,000
£140,001- £150,000
The aggregate pension contributions made by the charity on behalf of higher paid staff was £IO.55312023 - £19.3201. The
number of higher paid staff accruin8 benefits in defined contribution schemes was 312023 - 81.
The total employee benefits received by the key management personnel of the charity were £296,60912023 - £629,682).
Total redundancy and termination payments were £675,69912023'. £2,128).
No remuneration or expenses were paid to the trustees during the year. Indemnity insurance Is purchased for the
trustees and this cost 15 borne by Queen's University.
Total
funds
2024
Total
funds
2023
Employee costs..
Wages and salaries
Social security costs
Pension costs
Staff 8enefits
3.271,032
283,021
93.034
51,844
2,456,351
245,329
79,175
76,902
Total
3,698,931
2,857.757
20

BADER COLLEGE
{A Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Tanglble flmed assets
Freehold
Property
Plant &
Machtnery
Motor
Vehicles
Fixlures &
Fittings
Total
Charlty
Cost
At l May 2023
Additions
12,078,670
81,732
320.018
71,401
725,827
370.452
12,957.630
690,470
At 30 April 2024
12,078,670
401,750
71,401
1,096,279
13,648,100
Oepreclation
At l May 2023
Charge lor the year
1,450,563
128,227
51,429
71,579
46,789
16,862
573,256
121,077
2,122,037
337.745
At 30 April 2024
1,578,790
123,008
63,651
694.333
2,459,782
Net book value
At 30 April 2024
10.499,880
278,742
7,750
401,946
11,188,318
At 30 April 2023
10,628,107
30,303
24,612
152,571
10,835,593
21

BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 30 APRIL 2024
Tangible fixed assets
(continued}
Freehold
Property
Plant &
Machinerv
Motor
Vehlcles
Flxtures &
Fittings
Total
Group
Cost
At l May 2023
Additions
12,078,670
177,755
320,018
71,401
797,361
370,452
13,125,187
690,470
At 30 April 2024
12,078,670
497,773
71,401
1,167,813
13,815,657
Depreclatlon
At l May 2023
Charge for the year
1.450,563
128.227
140,063
75,442
46,789
16.862
613.503
133,624
2,2SO,918
354,155
At 30 April 2024
1.578,790
215,505
63,651
747,127
2,605,073
Net book value
At 30 April 2024
10,499,880
282,268
7,750
420,686
11,210.584
At 30 April 2023
10,628.107
37,692
24.612
183.858
10,874,269
10. Inve5trnents
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 generète rental income. The land is held In the accounts at falr value as follows..
Falr value- Group and Charitv
2024
2023
At l May 2023
Revaluation
2.582,000
668,000
2,519.000
63,000
At 30 April 2024
3,250,000
2.582,000
The fair value is based upon a formal report and valuation as at 30 April 2024, prepared in accordance with the RICS
valuation Global Standards 2017 and where relevant the previous RICS Valuation Professional Standards UK January
2014115 (the red bookl and the International Valuation 2017 Standards IIVSI. There are no restrictions placed upon
the land or the income generated from it.
22

BADER COLLEGE
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Equity
The charity has an investment in subsidiary- its holding of 100% of the issued share capital of £IO,(K)O £1 ordinary
shares in its subsidiary trading company. Herstmonceux Castle Estste Limited which is incorporated in England and
Wales, company registration number 02902475.
The a88re8ate value of capital and reserves and the result for this undertaking for the financial year are as follows..
Capltal and
reserves
Loss for
the ye•r
Herstmonceux Castle Estate Limited
1176,0311
15,9301
11. Debtors
Group
Charity
2024
2023
2024
2013
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued Income
1,056
28.232
1,299
228.478
2.375
191,244
332,592
43,884
66,668
47,119
66,806
2.375
192,283
114,981
222,890
443,144
423.396
12. Creditors:
Amounts falling due within one year
Group
rhlrltv
2024
2023
2024
2023
Trade creditors
Other taxation and social security
Accruals and deferred income
Amounts owed to group undertakin8S
232,692
29,734
64,980
316,544
21,236
184,987
8,014
232,030
25,993
59,346
316.213
4,801
127,612
8.014
327,406
530,781
317,369
4S6,640
23

BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
13. Consolidated Statement of funds- year ended 30 April 2024
Brought
foTh¥ard
Transfers
Inlout
Galnsl
(losses)
Carrled
forward
Income
Expenditure
General funds
General fund
Non charitable trading funds
HCE
Revaluation re5erye
11.416,365
6,060,335
15.533.393)
11,943,307
519.974
2,241,999
641,693
1480,6711
680,996
2,909.999
668.ryJO
Total unrestricted funds
14.178,338
6,702,028
16,014,064)
668,000
15.534,302
Restrlrted funds
Queen'5 University
Univer51ty of Waterloo
Jennifer Medves
Friends of HCE
Lund Trust
Waltrose
8ader Donation
Interest on capital
1,351,820
17,655
255
794,433
780
1952,6201
15,8671
1,193,633
12,568
225
2,924
8,210
500
8,759
20,479
2,924
8,210
500
8.759
20,479
Total Restricted Funds
1.378.959
826,826
1958,4871
1.247,298
Total funds
15,557,297
7,528,8S4
16,972,551
668,000
16,781,600
The designated fund for strategic initiatives represents those funds designated by the trustees for strategic initiatives which
cannot be managed within the annual operatin8 budget.
The 8eneral reserve fund represents those funds which are unrestricted and not designated for other purposes.
The restrirted fund for muslcians in residence is restricted for use in that specific pro8rammè.
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 Bèder donation is a donation to be used for the development of a certificate in global en8a8ement.
24

BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
13. Statement of funds Icontlnued)
Consolidated Statement of funds-year ended 30 April 2023
Brought
forward
Translers
Inlout
Galns/
(losses)
Carrled
forward
Income Expenditure
General funds
General fund
Non charitable trading funds
HCE
Revaluation reserve
10,062,132
7,845,742 16,491,509)
11,416.365
286,379
2,178,999
755.028
1521,4331
519,974
2.241.999
63.000
Total unrestricted funds
12,527,510
8,600.770 17,012,942)
63,000
14,178,338
Restrlcted funds
Musicians in residence
Queen's University
University of Waterloo
Jennifer Medves
Lund Trust
Waitrose
8ader Donation
61,847
1,713,851
22,538
8W
8,210
500
161,8471
1362,0311
18,3771
15751
18,2101
1,351,820
17.655
225
3,494
soo
8,7S9
14,895
16, 1361
Total Restricted Funds
18,389
1,807,746
1447,1761
1,378,959
Total funds
12,545,899
10,408.516
7,460.118
63,000
15,557,297
25

BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
14. Con501idated Analysis of net assets between fund$
Unrestricted
funds
2024
flestricted
fvnds
2024
Total
funds
2024
Tangiblè fixed assets
Investment property
Current assets
Creditor5 due withln one year
11,210,584
3,250,000
1,401,124
1327,4061
11.210,584
3.250,000
2.648,422
1327,4061
1,247,298
15,534,302
1,247,298
16,781,600
Unrestrlrted
fvnd5
2023
Restrlcted
fvnds
2023
Tolal
lunds
2023
Tangible fixed assets
Investment property
Current assets
Creditors due within one year
10,874,269
2,582,000
1,252,850
1530,7811
10,874,269
2,582,000
2,631,809
1530,7811
1,378.959
14,178,338
1.378,959
15,557,297
15. Ultimate parent undertaking
The charity is a subsidiary undertakin8 of Queen's Universlty at Kinsston Icanadal incorporated In Canada. The largest
group in which the results of the charity are consolidated is that headed by Queen's University at Kingston (Canadal.
incorporated in Canada. The consolidated accounts of this university are available to the public and may be obtained
from Queen's University. Kin8Ston, Ontario, Canada. No other group accounts include the result of this charity.
16. Related party transartions
During the year the charlty received income of £2,073,11712023'. £7,214,846} from Queen's University relatin8 to
tuition and residence fees. A further £4.215.750 12023.. £1,463,255) was received as grants and donations from
Queen'5. Total expenditure of £275,89712023.' E235.3171 was payable to Queen's to cover costs incurred by Queen's
on the charity'5 behalf. At the balance sheet date £nil12023.' £8.014) wès owed to Queen's Univer51ty.
Ouring the year a distribution of £Nil12023'. £Nill was received from Herstmonceux Castle Estate Limited.
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BADER COLLEGE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
16. Related party transactions {Continuedl
Other rechar8es of £352,74212023'. £241,308) were made between 8ader College and Herstmonceux Castle Estate
LSmlted. Recharges of £248,62812023: £24,858) were made from Herstmonceux Castle Estate Limited to Bader
College. At the balance sheet date £332.59212023.' £228,478) was due from Herstmonceux Castle Estate Limited.
27