OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Landmarks Specialist College

2024-08-31-accounts

REGISTERED COMPANY NUMBER: 03039522 (England and Wales) REGISTERED CHARITY NUMBER: 1047557

Report of the Governors and

Consolidated Financial Statements for the Year Ended 31 August 2024

for

Landmarks Specialist College

Sutton McGrath Hartley 5 Westbrook Court Sharrowvale Road Sheffield South Yorkshire S11 8YZ

Landmarks Specialist College

Contents of the Financial Statements for the Year Ended 31 August 2024

Page
Reference and Administrative Details 1
Principal's Report 2
Report of the Governors 3 to 17
Report of the Independent Auditors 18 to 20
Consolidated Statement of Financial Activities 21
Consolidated Statement of Financial Position 22
Charitable Company Statement of Financial Position 23
Consolidated Statement of Cash Flows 24
Notes to the Statement of Cash Flows 25
Notes to the Financial Statements 26 to 39
Detailed Statement of Financial Activities 40 to 41

Landmarks Specialist College

Reference and Administrative Details for the Year Ended 31 August 2024

GOVERNORS P F Battiste Ms C O'Neill (resigned 12/1/2024) A E Scott C C Pickup M J Hilton Ms F Featherstone COMPANY SECRETARY L T Brocklesby REGISTERED OFFICE Littlemoor House Littlemoor Eckington Sheffield S21 4EF REGISTERED COMPANY NUMBER 03039522 (England and Wales) REGISTERED CHARITY NUMBER 1047557 AUDITORS Sutton McGrath Hartley 5 Westbrook Court Sharrowvale Road Sheffield South Yorkshire S11 8YZ SOLICITORS Knights 14 Commercial St Sheffield S1 2AT BANKERS Barclays 121 Norfolk Row Sheffield S1 2JW

Page 1

Landmarks Specialist College

Principal's Report

for the Year Ended 31 August 2024

A Message from our Principal and CEO

At Landmarks Specialist College, our commitment to transforming the lives of our learners continues to shape our strategic direction, and this year has been one of significant progress and financial growth. As we expand our impact across Nottinghamshire, Derbyshire, and South Yorkshire, we remain focused on ensuring that every learner has access to high-quality education, support, and real-world training and development opportunities.

This year, our financial growth has been stronger than ever, allowing us to expand our curriculum, invest in our staff, and enhance our learning environments. Our total income increased by 17.87%, reaching £5.7 million, while our group performance grew by 17.61%. This increase reflects our growing learner numbers, strengthened partnerships, and commitment to financial sustainability. Notably, our training enterprises also saw an 10.73% increase in income, reinforcing the success of our commercial and work-based learning models.

Alongside this, we have made strategic investments to secure the future of our provision. The acquisition of Enterprise House in Rotherham represents a significant milestone, providing an accessible, high-quality learning space that will serve more learners within their local community. We have also continued to develop our specialist employment services, securing new partnerships with major employers such as Greene King and NHS Rotherham, ensuring even more of our learner's progress into sustained, meaningful employment.

I am particularly proud of our unwavering commitment to staff development. Recognising the dedication and expertise of our team, we introduced a sector-leading 8% pay award for all staff, demonstrating our commitment to investing in the people who make Landmarks exceptional. Additionally, our financial management continues to be rated Outstanding by the ESFA, highlighting our ability to maintain a stable and sustainable future while delivering the highest standards of education.

Learner outcomes remain at the heart of our success. This year, we are celebrating our 100th Supported Intern, a landmark achievement since launching the pathway in 2018. The employment outcomes for our learners continue to outperform national averages, with 75% of Supported Interns securing paid work. Additionally, the number of learners accessing higher-level qualifications has grown, reflecting our commitment to stretching and challenging every individual.

Beyond academic and employment success, we take immense pride in the personal development of our learners. Many leave Landmarks with greater confidence, stronger communication skills, and enhanced independence. Whether progressing to employment, further education, or leading active lives in their communities, every learner leaves ready for the future.

As we move forward, our vision remains clear-to be nationally recognised for transforming the lives of our learners. With continued financial stability, strategic investments, and a growing reputation, Landmarks is in a strong position to thrive, ensuring we provide the best possible opportunities for our learners.

I extend my sincere thanks to our learners, their families, our exceptional staff, and our valued partners. Together, we are creating a future where every learner can achieve their potential.

Larry Brocklesby - Principal

Page 2

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

The Governors, who are also both Directors of the Charitable Company and Governors of the College, present their report and the audited financial statements of the charity for the year ended 31 August 2024. The governors have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Landmarks Specialist College

Landmarks is a thriving, Independent Specialist College for people with learning difficulties and disabilities. Based in Eckington but operating across six sites throughout the East Midlands and South Yorkshire.

Landmarks continues to grow and go from strength to strength in supporting young adults into employment, with sector leading outcomes for Employability.

For more information, please visit: www.landmarks.ac.uk

Why do Landmarks Make a Difference?

Landmarks has a proud reputation for designing individualised education and support programmes for young people with additional needs, supporting them to achieve their life goals be that; employment, higher education and/or day services. We aim to ensure that our learners' lives are impacted positively as a result of learning at Landmarks.

OUR VISION

"To be recognised nationally for transforming the lives of our learners".

OUR MISSION

"To deliver high-quality education and support that maximises life opportunities for our learners".

OUR VALUES

Page 3

Landmarks Specialist College

Report of the Governors - continued for the Year Ended 31 August 2024

Page 4

Landmarks Specialist College

Report of the Governors - continued for the Year Ended 31 August 2024

Financials at a glance

Total Income
2023-24		 Total Income
2022-23		 Total Expenditure
2023-24		 Total Expenditure
2022-23
Landmarks Specialist College £5,697,222
(+17.87%)		 £4,833,378 £5,651,174
(+20.82%)		 £4,677,221
Landmarks Training
Enterprises Ltd		 £205,870
(+10.73%)		 £185,929 £186,106
(+5.62%)		 £176,202
Group Performance £5,903,092
(+17.61%)		 £5,019,307 £5,837,280
(+20.27%)		 £4,853,423

Page 5

Landmarks Specialist College

Report of the Governors - continued for the Year Ended 31 August 2024

Performance at a glance

==> picture [712 x 236] intentionally omitted <==

----- Start of picture text -----
Year 2023-24 Year 2022-23 Difference
Total number of Learners on role
233 151 +82
Total number of SI Learners
12 20 -8
Number of SI Learners gaining paid
9 16 -7
employment
Number of SI Learners gaining voluntary
1 4 -3
Employment
SI Employability Paid Outcomes (%)
75% 80% -5%
Total number of staff given CPD
146 136 +10
Total number of staff (avg)
146 136 +10
----- End of picture text -----

*SI – Supported Internships

Page 6

Landmarks Specialist College

Report of the Governors - continued for the Year Ended 31 August 2024

Media and other services

==> picture [698 x 187] intentionally omitted <==

----- Start of picture text -----
Year 2023-24 Year 2022-23 Difference
3,659 2,560 43%
Social Media Followers
Website Total Page Views 114,065 67,715 68%
Unique website visitors 24,092 14,669 64%
Number of unique donors 125 98 28%
----- End of picture text -----

In line with our target of improving our reach, we saw 2023-24 again increase our following and presence in the sector. This is something we continue to work towards in future, with more of an aim towards social media for the 2024-25 Academic/Financial year.

We have also invested in software that tracks donor trends, collects data, and identifies unique visits to our pages. This has allowed us to maintain contact with individuals, explain more about how the funds are being used, and most importantly maintain a relationship that could provide future charitable donations for the college.

We have a number of planned events for the upcoming year, including our Prom, which was heavily attended during the 23/24 Academic/Financial. In previous years events, Landmarks recorded numbers of 120 guests.

Page 7

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

How did we progress towards our strategic objective "Maintain Financial Health"?

Increase Learner Numbers

Landmarks numbers increased from 151 to 233 between the academic years 22/23 and 23/24, a growth percentage of 54%, resulting in us receiving top-up funding from the ESFA for substantial in-year growth. The goal of 135 learners by 2025, was achieved in 22/23.

Develop Business Opportunities

Landmarks have developed partnerships with sector leading employers within this year, such as becoming Greene King's partner of choice for employing those with additional needs and disabilities in the region. We also established a partnership with Marsdens, NHS Rotherham, placing interns and many small-to-medium local enterprises, creating opportunities. As Landmarks continue to expand, we also continue our search for a new premises to purchase, to allow this growth to continue at a steady pace, while maintaining outstanding outcomes.

Manage Finances Well

Landmarks achieved their first ever ESFA grading of Outstanding for the management of college finances in 2021. This has been maintained since at each annual ESFA audit. We have built free reserves to a point where the college is financially sound, having over three months of reserves in the bank at year end. We also endeavour to stay within 10% of all budget lines throughout the year and explain any variances above this level to the Finance Committee and Board of Governors if necessary.

Invest

Each year, we hold a Remuneration Committee, where the full board of Governors, along with the CEO and FD, agree a review of staff conditions based on a benchmarking activity that takes place between the FD and HR Director. Landmarks agreed a sector leading 8% rise for all employees, to help combat the cost-of-living crisis. Investing in staff, through CPD and benchmarking activities, is something we do well for our staff, and contributes towards a high 95% staff satisfaction survey report.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's aims are to provide education and training to those with learning difficulties/disabilities in a caring and sheltered environment. The continuous quality improvement of this provision remains a key focus.

Principle activities

Landmarks has a proud reputation for designing individualised education and support programmes for young people with additional needs, supporting them to achieve their life goals be that; employment, higher education and/or improving individual levels of independence. We aim to ensure that our learners' lives are impacted positively as a result of learning at Landmarks.

In setting our objectives and planning our activities the Governors have given careful consideration to the Charity Commissions general guidance on public benefit. Further details of how the charity has carried out its activities for the public benefit are given in the section on Achievements and Performance below.

Page 8

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Achievements and performance

Review of activities

Landmarks is an Independent Specialist College for adults who have a range of learning difficulties and disabilities. The College offers a wide range of practical programmes which are individually tailored to promote learners' life skills and academic achievements in the pursuit of greater independence, further study, or employment. The five sites, located across Nottinghamshire, Derbyshire and South Yorkshire provide excellent facilities for practical, contextualised learning. Learning also takes place in a range of community settings, employer premises and local facilities.

In 2023/24 the college had a total of 233 learners of which 66% (153) were Education and Skills Funding Agency (ESFA) learners. The remaining learners (34%, 80) were funded through direct payments/social services contracts. Typically, ESFA funded learners transfer to Landmarks after leaving special schools with a combination of mild or severe learning difficulties and/or disabilities. Learners usually live within a 25-mile radius of College sites and travel on a daily basis. The learner population ranges in age from 16 to 60.

All learners are engaged in a combination of practical independence, employment, vocational, functional skills; maths, English or digital literacy (through both direct sessions and embedded application). Learners receive tuition in personal and social development, how to keep themselves safe online, at home and in their communities as well having opportunity to study a variety of vocational subjects and qualifications, as well as access to a large range of work experience opportunities, which aim to enhance learners' employability and work readiness skills. Timetables reflect individual learner needs and choice and include:

The College is governed by a Board of Governors from different professions and business backgrounds.

The College places great significance on working collaboratively and in partnership with a range of other agencies including the ESFA, Local Authorities, Social Services, the Targeted Support/Transitions Service, local Schools, multi-academy trusts, further education colleges, The National Association for Specialist Colleges (NATSPEC) and a range of employers, from small independent to national groups.

Range of facilities and resources, specifically for the use of people with disabilities .

The following are amongst the resources available:

Page 9

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Littlemoor House, is the main site which provides the base for management and administration. In curriculum terms this site also has an Art studio, Music room, Bistro, 8 classrooms and outdoor space.

Apperknowle Farm is where Landmarks operates their Land based and Animal Care (Farm-to-Fork) curriculum. This site continued to be developed to provide a full range of land-based resources for Landmarks programmes. This is a mortgaged property owned by the Charity.

The Archer Pub is where Landmarks operate their Hospitality and Catering curriculum from September 2016, training young adults with a variety of additional needs who wish to work within the bar and restaurant trade. The Archer enterprise aims to:

Nottingham House is Landmarks base close to the centre of Nottingham where Employability training and education takes place. Being so close to the centre of Nottingham provides access to numerous new employers, who provide work placements.

Wayfinder Specialist Employment Services has also established a base both at Nottingham House and Eckington High Street, to bolster the presence of their employer support and placement activities so very crucial to the success of the Supported Internship aspect of the Employability Pathway.

Enterprise House is Landmarks new town centre base in Rotherham. This base enables the delivery of both employability and developing independence in the heart of the town in which the learners reside. Accessing their own local community has the greatest impact on improving community access. The new site offers an Art Studio, Media suite, IT studio, Music room, Bistro, and 6 classrooms.

Learners following the Employability Pathway were able to access over 40 employer premises in which to either complete work placements or Internships. As a result, many learners progressed into paid employment across a number of disciplines, chief amongst them being Hospitality and Catering thanks to the established partnership the college has with Greene King pub company.

Such is the college's commitment to its Vision and Mission that it tracks ex-learners and offers support to secure employment should anything happen with their initial employment outcome. In 2023-24 the college continued successful works in supporting learners to secure paid employment as part of their Aftercare After College offer.

Learners following the college's Developing Independence Pathway accessed a variety of academic, vocational and social subjects aimed at improving an individual learner's level of independence, social communication and aspirations for their future, whether that is to access their local community with confidence, progress onto further study at a local mainstream college or secure employment, or occupation, paid or otherwise. The aim being that learners from this Pathway or supported to develop life skills that can lead to productive adult lives where they can be active members of their homey community.

Page 10

Landmarks Specialist College

Report of the Governors

for the Year Ended 31 August 2024

Outcomes for learners are impressive, with leavers on the Employability Pathway achieving the highest rate of paid employment since the Pathway began. So too were the impressive outcomes of those leavers following the Developing Independence Pathway. Many leavers were supported to achieve dual destinations, meaning if work was only part time, they were supported to establish a further activity that together, made for a week with a desired amount of activity for the individual.

College leaders are confident that the quality of education, outcomes, personal and social development as well as leadership and management are at least Good overall, with some emerging Outstanding traits which should be realised in short order.

Quality improvement priorities 2023-24 (Quality Improvement Plan 24-25)

Management of the associated risks

Governors of the Charity review risks to the organisation closely, featuring in most Governor meetings to ensure the board are aware of the risk to the organisation and the measures in place to reduce likelihood and increase preparedness. The board of governors along with the Principal, monitor the college risk profile regularly, seeking to reduce short term risks associated with cash flow by creating a finance subcommittee, who report to the wider board, charged with monitoring income and expenditure.

Going Concern

Governors have reviewed at length the project charity performance over at least the next 12-months and are satisfied that there are no material uncertainties related to going concern and that most likely scenarios have been modelled to inform that decision.

The Charity is confident that all its financial commitments will be met in 2025-26 and the foreseeable future whilst ever the EFSA and Local Authorities are able to fund our provision.

Staff Satisfaction

In our recent staff satisfaction survey (23/24), Landmarks boasts some brilliant results, 99% of staff said the following were either good or outstanding:

  1. Awareness of the procedures for handling suspected safeguarding issues

  2. The alertness of staff to signs of abuse

  3. The colleges focus on continuous improvement

  4. promoting safeguarding

Top strengths

  1. Employee opportunities to develop their career at Landmarks.

  2. The clarity of the way forward and strategic objectives

  3. Employee awareness of handling suspected safeguarding issues, and how safeguarding is promoted.

  4. Manager approachability.

  5. Manager ability to provide support for professional development.

Reserves Policy

We have determined our free reserves levels should be targeted at 1-3 months total expenditure

This calculation has been made based on benchmarking ourselves with other similar sized charitable organisations. Free Reserves at 31st August 2024 were £1.29m – approximately 2.7 months of expenditure. Financial budget of 2024-25 we forecast Landmarks Free Reserves to be at c£1.5m on 31st August 2025, notwithstanding unforeseen expenditure.

Page 11

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Reserves

1.1 The Charity Commission's CC19 guidance states: "There is no single level or even a range of reserves that is right for all charities. Any target set by governors for the level of reserves to be held should reflect the circumstances of the individual charity. To do this, governors need to know why the charity should hold reserves and, having identified those needs, the governors should consider how much should be held to meet them."

2.1 This policy sets out our free reserves, which are defined as unrestricted funds excluding fixed assets and defined benefit pensions. These free reserves include short-term investment balances, cash, and other working capital balances.

2.2 As part of effective financial management, we hold reserves to ensure we can manage:

2.3 A detailed review of the financial risks we face is monitored on an ongoing basis, and our assessments on the possible financial impact of those risks have been incorporated into the reserves range we have calculated.

Long-term commitments

3.1 There is no current requirement to make allowance within the reserves range for future plans and commitments. 3.2 Although we have long-term financial commitments with our staff and leasehold properties, these commitments will be funded exclusively through future cash inflows.

3.3 Future expenditure will be set in line with future income, and therefore specific long-term funds have not been set aside within reserves.

Target range for reserves

4.1 The target range is set at 1-3 months expenditure - roughly equating to c£1,402,000 in 2023-24.

4.2 The Board of Governors consider that this target range provides sufficient flexibility in the context of operational requirements, and for an organisation of our size and complexity.

Responsibilities

5.1 The Board of Governors are responsible for ensuring that we manage our resources responsibly, and that we act in the best interests of the organisation and the people we serve. The Board has responsibility for approving and monitoring the implementation of this policy.

5.2 The CEO and Chair of Governors are responsible for monitoring and supervision of the current and future financial situation and associated risks to the organisation. The committee has responsibility for reviewing this policy and making recommendation for approval to the Board.

5.3 The CEO is responsible for providing clear and focused leadership of the organisation, and to ensure our financial stability.

5.4 The CEO is the policy owner and is responsible for managing our reserves level within the policy range, ensuring this policy is reviewed in line with corporate requirements with assistance from the Finance Lead.

Laws and regulations

6.1 As a registered charity, we are required to meet relevant legal and regulatory requirements.

6.2 This policy sets out the framework we have in place to confirm the level of reserves we have determined is appropriate for our organisation and draws upon guidance such as the Charity Commission's CC19.

Page 12

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Investment Policy

Landmarks receive income on an annual basis, for learners within year from Councils, and on a lagged basis from the government. We plan effectively based on application approval success of previous years and forecast learner numbers based on each stage of the process. We allow ourselves to maintain a prudent level of free reserves, to cover any unexpected or expediential drop in learner numbers to cover risks associated. Landmarks board of Governors have always felt that investment for the longer term is not something that is necessary. The investment Landmarks make is in the provision expansion and improvements and not for short term financial gains. Our policy is therefore to review our bank accounts to ensure we get the best interest rates possible at the time for our funds, this is reviewed annually by the Finance Committee.

Landmarks Board of Governors considers it is not necessary for Landmarks to create an ethical investment policy in the near future.

Page 13

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Landmarks Leadership Structure

Page 14

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Landmarks structure

Landmarks is governed by a Board of voluntary Governors (who are also governors of the charity), none of whom are paid by Landmarks, and any conflicts of interest are declared within the accounts. The board of governors do not have control of the day-to-day operational duties of Landmarks Specialist College but are heavily involved in an advisory capacity at meetings, and each lead a subcommittee meaning that they are very aware of the activities taking place. The following organogram shows the employment structure of Landmarks, with the Principle reporting directly to, and held accountable by, the board of governors.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

The company and the group are registered as a charitable company limited by guarantee and constituted under a Memorandum and Articles of Association dated 29 March 1995 as amended 6 May 2014, 21 September 2016 and 24 April 2021, registered charity number 1047557.

The principle object of the company and the group is to provide education and training to adults with learning difficulties/disabilities in a caring and sheltered environment.

Recruitment and appointment of new governors

The management of the company is the responsibility of the Governors who are elected and co-opted under the terms of the Memorandum and Articles of Association.

Governors are recruited via online advertising, both through voluntary sector Job Boards and through the college's own website. If the college receives an enquiry to become a governor, they are invited to meet the Principal and are given a tour of the college.

If the applicant wishes to pursue their enquiry following a tour, they are then invited to observe the next governor meeting and meet with the Chair of Governors on a 1:1 basis. If both parties are in agreement, Governors are asked to consider the application and vote on membership.

Each year governors receive training pertinent to the college, covering areas of:

Page 15

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Remuneration

Landmarks host an internal Remuneration Committee annually in December of each year. We are committed, as part of our strategic priority "managing finances responsibly" to invest in our staff team, which ensure we attract best in class staff to support our learners. It also allows internal development of staff, so that we can promote from within the organisation, and develop a strong management structure that know the charitable objectives, and what we are trying to achieve.

In accordance with the Statement of Recommended Practice (SORP) Landmarks Accounts disclose:

The remuneration Committee consists of the Chair of Governors, the entire governor cohort, the CEO, and FD. The board make the decision, based on benchmarking activities and inflation presentations provided by the operational team. The staff team mentioned are not involved in the decision process and are only presenting facts and figures surrounding affordability of all options.

Statement of Purpose

Role and Remit

In relation to its purpose (above), the Committee will consider:

For the 2023/24 financial year, Landmarks agreed an 8% pay increase for all staff. One member of staff earned more than £60,000 per annum and that was the College CEO.

Landmarks are now a Real Living Wage employer from 2023.

Page 16

Landmarks Specialist College

Report of the Governors for the Year Ended 31 August 2024

Financial Review

The governors are satisfied with the financial position of the charity at the end of this financial year. There was an increase in turnover of £883,785 and the reduction in profit is solely due to the investment in Enterprise House, which did not come into full operation until after the year-end. There was costs of occupation and finance costs incurred before it started to generate income.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF GOVERNORS' RESPONSIBILITIES

The governors (who are also the directors of Landmarks Specialist College for the purposes of company law) are responsible for preparing the Annual 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 governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the governors are required to

The governors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the governors are aware:

AUDITORS

The auditors, Sutton McGrath Hartley, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of governors on ............................................. and signed on its behalf by:

.......................................................................... P F Battiste - Governor

Page 17

Report of the Independent Auditors to the Members of Landmarks Specialist College

Opinion

We have audited the financial statements of Landmarks Specialist College (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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 (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 governors' 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 charitable company'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 governors with respect to going concern are described in the relevant sections of this report.

Other information

The governors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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:

Page 18

Report of the Independent Auditors to the Members of Landmarks Specialist College

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Governors.

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

Responsibilities of governors

As explained more fully in the Statement of Governors' Responsibilities, the governors (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 governors 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 governors are responsible for assessing the 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 governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 19

Report of the Independent Auditors to the Members of Landmarks Specialist College

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment of the susceptibility to material misstatement, whether by fraud or error, is made in a risk based approach.

In this approach, laws and regulations applicable to the entity, such as the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102, Charities SORP, employment law, and Health and Safety law is considered. The policies and controls the entity has in place to comply with these laws are reviewed, by discussion, reviews of correspondence and registrations monitored by external bodies. The engagement team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Policies and controls relating to the risk of material misstatement as a result of fraud, management override of controls, and revenue recognitions are also considered. These are assessed by obtaining an understanding of the charity's operations and control environment. The policies and controls have been reviewed by discussion, review and sample testing of accounting entries, including journals, challenging assumptions and judgements, reviewing and evaluating related parties transactions, and wider background searches. Testing of income recognition, going concern and fund accounting is also completed.

We have ensured that the engagement team have appropriate levels of competence and experience to effectively monitor these risks and carry out work relevant to our assessment of each risk, including consideration of the sector the charity operates in and its size and complexity.

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 Report of the Independent Auditors.

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 auditors' 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.

James Salim FCCA (Senior Statutory Auditor) for and on behalf of Sutton McGrath Hartley 5 Westbrook Court Sharrowvale Road Sheffield South Yorkshire S11 8YZ

Date: .............................................

Page 20

Landmarks Specialist College

Consolidated Statement of Financial Activities for the Year Ended 31 August 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
3,123
Charitable activities
5
Charitable activities
5,671,741
Other trading activities
3
206,611
Investment income
4
4,844
Other income
1,773
Total
5,888,092
EXPENDITURE ON
Raising funds
6
186,106
Charitable activities
7
Charitable activities
5,647,659
Total
5,833,765
NET INCOME
54,327
RECONCILIATION OF FUNDS
Total funds brought forward
1,845,530
TOTAL FUNDS CARRIED FORWARD
1,899,857		 Restricted
funds
£
-
15,000
-
-
-
15,000
-
3,515
3,515
11,485
12,055
23,540		 2024
Total
funds
£
3,123
5,686,741
206,611
4,844
1,773
5,903,092
186,106
5,651,174
5,837,280
65,812
1,857,585
1,923,397		 2023
Total
funds
£
1,783
4,824,755
190,012
1,393
1,364
5,019,307
176,202
4,677,221
4,853,423
165,884
1,691,701
1,857,585

The notes form part of these financial statements

Page 21

Landmarks Specialist College

Consolidated Statement of Financial Position

31 August 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
1,453,010
Investments
15
-
1,453,010
CURRENT ASSETS
Stocks
16
23,439
Debtors
17
243,442
Cash at bank and in hand
1,175,624
1,442,505
CREDITORS
Amounts falling due within one year
18
(170,807)
NET CURRENT ASSETS
1,271,698
TOTAL ASSETS LESS CURRENT LIABILITIES
2,724,708
CREDITORS
Amounts falling due after more than one year
19
(824,851)
NET ASSETS
1,899,857
FUNDS
22
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
23,540
-
23,540
-
-
-
-
-
-
23,540
-
23,540		 2024
Total
funds
£
1,476,550
-
1,476,550
23,439
243,442
1,175,624
1,442,505
(170,807)
1,271,698
2,748,248
(824,851)
1,923,397
1,899,857
23,540
1,923,397		 2023
Total
funds
£
1,476,175
-
1,476,175
21,779
157,341
1,258,328
1,437,448
(210,158)
1,227,290
2,703,465
(845,880)
1,857,585
1,845,530
12,055
1,857,585

The financial statements were approved by the Board of Governors and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P F Battiste - Governor

The notes form part of these financial statements

Page 22

Landmarks Specialist College

Charitable Company Statement of Financial Position

31 August 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
1,452,887
Investments
15
1
1,452,888
CURRENT ASSETS
Stocks
16
15,201
Debtors
17
255,009
Cash at bank and in hand
1,141,310
1,411,520
CREDITORS
Amounts falling due within one year
18
(158,395)
NET CURRENT ASSETS
1,253,125
TOTAL ASSETS LESS CURRENT LIABILITIES
2,706,013
CREDITORS
Amounts falling due after more than one year
19
(824,851)
NET ASSETS
1,881,162
FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
23,540
-
23,540
-
-
-
-
-
-
23,540
-
23,540		 2024
Total
funds
£
1,476,427
1
1,476,428
15,201
255,009
1,141,310
1,411,520
(158,395)
1,253,125
2,729,553
(824,851)
1,904,702
1,881,162
23,540
1,904,702		 2023
Total
funds
£
1,475,393
1
1,475,394
15,201
170,142
1,232,996
1,418,339
(200,530)
1,217,809
2,693,202
(845,880)
1,847,322
1,835,267
12,055
1,847,322

The charitable company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities. The net movement in funds for the year of the charitable company was £57,380 (2023: £160,544).

The financial statements were approved by the Board of Governors and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P F Battiste - Governor

The notes form part of these financial statements

Page 23

Landmarks Specialist College

Consolidated Statement of Cash Flows for the Year Ended 31 August 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
2
Cash and cash equivalents at the end of the
reporting period
2		 2024
£
122,971
66,385
189,356
(257,948)
4,844
(253,104)
-
(19,239)
(19,239)
(82,987)
1,257,610
1,174,623		 2023
£
354,078
38,177
392,255
(636,999)
1,393
(635,606)
869,600
(453,761)
415,839
172,488
1,085,122
1,257,610

The notes form part of these financial statements

Page 24

Landmarks Specialist College

Notes to the Statement of Cash Flows for the Year Ended 31 August 2024

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
£
Net income for the reporting period (as per the Statement of Financial
Activities)
65,812
Adjustments for:
Depreciation charges
257,573
Interest received
(4,844)
Interest paid
(66,385)
Increase in stocks
(1,660)
(Increase)/decrease in debtors
(86,101)
Decrease in creditors
(41,424)
Net cash provided by operations
122,971
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
£
Cash in hand
1,106
Notice deposits (less than 3 months)
1,174,518
Overdrafts included in bank loans and overdrafts falling due within one year
(1,001)
Total cash and cash equivalents
1,174,623
3.
ANALYSIS OF CHANGES IN NET FUNDS		 2023
£
165,884
191,847
(1,393)
(38,177)
(877)
68,589
(31,795)
354,078
2023
£
1,122
1,257,206
(718)
1,257,610
Net cash
Cash at bank and in hand
Bank overdraft
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1/9/23
£
1,258,328
(718)
1,257,610
(19,040)
(845,880)
(864,920)
392,690		 Cash flow
£
(82,704)
(283)
(82,987)
(1,789)
21,029
19,240
(63,747)		 At 31/8/24
£
1,175,624
(1,001)
1,174,623
(20,829)
(824,851)
(845,680)
328,943

The notes form part of these financial statements

Page 25

Landmarks Specialist College

Notes to the Financial Statements for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 10% on cost and 2% on cost
Short leasehold - Straight line over the remaining period
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The company is considered to pass the test set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for the UK corporation tax purposes. Accordingly, the company is potentially exempt from the taxation in respect of income or capital gains received within categories covered in Pt. 11 CH. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the governors.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 26

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the group anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods and services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Financial instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective method.

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Benefits are also provided to employees of the charity by the Teachers' Pension Scheme ("TPS").

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees' working lives with the charity in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. The TPS is a multi employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis as the governors believe that no material uncertainties exist. The governors have considered the level of funds held and the expected level of the income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern and the latest management accounts show results are in excess of the budget and with a positive cashflow.

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

continued...

Page 27

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES - continued

Liabilities and provisions

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Basis of consolidation

The financial statements consolidate the accounts of Landmarks Specialist College and its subsidiary undertaking, Landmarks Training Enterprises Limited.

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own income and expenditure account.

The results of the subsidiary are consolidated on a line by line basis.

2. DONATIONS AND LEGACIES

Unrestricted
Restricted
funds
funds
£
£
Donations
3,123
-
OTHER TRADING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Fundraising events
741
-
Archer Pub income
205,870
-
Apperknowle livery income
-
-
206,611
-		 2024
Total
funds
£
3,123
2024
Total
funds
£
741
205,870
-
206,611		 2023
Total
funds
£
1,783
2023
Total
funds
£
3,683
185,929
400		 2023
Total
funds
£
1,783
190,012

3. OTHER TRADING ACTIVITIES

continued...

Page 28

Landmarks Specialist College

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

4. INVESTMENT INCOME

Unrestricted
Restricted
funds
funds
£
£
Deposit account interest
4,844
-
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Income received for
education services
Charitable activities
Grants
Charitable activities
Grants received, included in the above, are as follows:
Capital grants
General		 2024
Total
funds
£
4,844
2024
£
5,653,969
32,772
5,686,741
2024
£
32,772
-
32,772		 2023
Total
funds
£
1,393
2023
£
4,791,317
33,438		 2023
Total
funds
£
1,393
2023
£
4,791,317
33,438		 2023
Total
funds
£
1,393
4,824,755
2023
£
-
33,438
33,438

6. RAISING FUNDS

Other trading activities

Unrestricted
Restricted
funds
funds
£
£
Trading costs
117,380
-
Trading activities - other costs
68,726
-
186,106
-		 2024
Total
funds
£
117,380
68,726
186,106		 2023
Total
funds
£
110,792
65,410
176,202

continued...

Page 29

Landmarks Specialist College

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

7. CHARITABLE ACTIVITIES COSTS

Direct
Costs
£
Charitable activities
5,638,274
8.
SUPPORT COSTS
Charitable activities
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
10.
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's financial
statements		 Support
costs (see
note 8)
Totals
£
£
12,900
5,651,174
Governance
costs
£
12,900
2024
2023
£
£
257,573
186,845
2024
2023
£
£
12,900
12,900

11. GOVERNORS' REMUNERATION AND BENEFITS

During the year, no Governors received any remuneration or other benefits (2023 - £Nil).

Governors' expenses

During the year, expenses were made to one governor for general expenses totalling £251 (2023 - £383).

continued...

Page 30

Landmarks Specialist College

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

12. STAFF COSTS

12. STAFF COSTS
2024 2023
£ £
Wages and salaries 3,393,231 2,887,771
Social security costs 288,932 238,362
Other pension costs 197,012 154,547
3,879,175 3,280,680
The average monthly number of employees during the year was as follows:
2024 2023
Total 147 136
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2024 2023
£90,001 - £100,000 1 1
Key management personnel remuneration for the year including Employers' NI and Pension totalled £373,051
(2023: £295,301). The Governors consider key management personnel to be the senior leadership team.
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,783 - 1,783
Charitable activities
Charitable activities 4,808,755 16,000 4,824,755
Other trading activities 190,012 - 190,012
Investment income 1,393 - 1,393
Other income 1,364 - 1,364
Total 5,003,307 16,000 5,019,307
EXPENDITURE ON
Raising funds 176,202 - 176,202
Charitable activities
Charitable activities 4,673,276 3,945 4,677,221
Total 4,849,478 3,945 4,853,423
NET INCOME 153,829 12,055 165,884

continued...

Page 31

Landmarks Specialist College

Notes to the Financial Statements - continued

for the Year Ended 31 August 2024

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
RECONCILIATION OF FUNDS
Total funds brought forward
1,691,701
TOTAL FUNDS CARRIED FORWARD
1,845,530
14.
TANGIBLE FIXED ASSETS
Group
Freehold
Short
Fixtures and
property
leasehold
fittings
£
£
£
COST
At 1 September 2023
1,436,121
10,896
892,095
Additions
-
14,265
169,369
At 31 August 2024
1,436,121
25,161
1,061,464
DEPRECIATION
At 1 September 2023
345,257
8,178
552,362
Charge for the year
96,778
1,277
135,692
At 31 August 2024
442,035
9,455
688,054
NET BOOK VALUE
At 31 August 2024
994,086
15,706
373,410
At 31 August 2023
1,090,864
2,718
339,733		 13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
RECONCILIATION OF FUNDS
Total funds brought forward
1,691,701
TOTAL FUNDS CARRIED FORWARD
1,845,530
14.
TANGIBLE FIXED ASSETS
Group
Freehold
Short
Fixtures and
property
leasehold
fittings
£
£
£
COST
At 1 September 2023
1,436,121
10,896
892,095
Additions
-
14,265
169,369
At 31 August 2024
1,436,121
25,161
1,061,464
DEPRECIATION
At 1 September 2023
345,257
8,178
552,362
Charge for the year
96,778
1,277
135,692
At 31 August 2024
442,035
9,455
688,054
NET BOOK VALUE
At 31 August 2024
994,086
15,706
373,410
At 31 August 2023
1,090,864
2,718
339,733		 Restricted
funds
£
-
12,055
Motor
vehicles
£
97,810
74,314
172,124
54,950
23,826
78,776
93,348
42,860		 Restricted
funds
£
-
12,055
Motor
vehicles
£
97,810
74,314
172,124
54,950
23,826
78,776
93,348
42,860		 Total
funds
£
1,691,701
1,857,585
Motor
vehicles
£
97,810
74,314
172,124
54,950
23,826
78,776
93,348
42,860		 Totals
£
2,436,922
257,948
2,694,870
960,747
257,573
1,218,320
1,476,550
1,476,175

The freehold property is secured against the bank loans of the charity.

continued...

Page 32

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

14. TANGIBLE FIXED ASSETS - continued

Charity
COST
At 1 September 2023
Additions
At 31 August 2024
DEPRECIATION
At 1 September 2023
Charge for the year
At 31 August 2024
NET BOOK VALUE
At 31 August 2024
At 31 August 2023		 Freehold
property
£
1,436,121
-
1,436,121
345,257
96,778
442,035
994,086
1,090,864		 Short
leasehold
£
10,896
14,265
25,161
8,178
1,277
9,455
15,706
2,718		 Fixtures and
fittings
£
887,016
169,377
1,056,383
548,065
135,031
683,096
373,287
338,951		 Motor
vehicles
£
97,810
74,314
172,124
54,950
23,826
78,776
93,348
42,860		 Totals
£
2,431,843
257,946
2,689,789
956,450
256,912
1,213,362
1,476,427
1,475,393

15. FIXED ASSET INVESTMENTS

2024 2023
£ £
Landmarks Training Enterprises Limited 1 1
The following was a subsidiary undertaking of the charitable company:
Company
number Class of shares Holding
Landmarks Training Enterprises Limited 10374758 Ordinary 100%
The financial results of the subsidiary for the year were:
Profit for the
Name Income Expenditure year Net assets
£ £ £ £
Landmarks Training Enterprises Limited 205,870 186,106 19,764 18,899

continued...

Page 33

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

16. STOCKS

Bar and food stock
Farm stock		 Group
2024
£
8,238
15,201
23,439		 Group
2023
£
6,578
15,201
21,779		 Charity
2024
£
-
15,201
15,201		 Charity
2023
£
-
15,201
15,201

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2024
£
69,519
-
11,938
161,985
243,442		 Group
2023
£
82,213
-
12,991
62,137
157,341		 Charity
2024
£
69,519
13,119
11,938
160,433
255,009		 Charity
2023
£
82,213
14,333
12.991
60,605
170,142

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 20)
Trade creditors
VAT
Other creditors
Accruals and deferred income		 Group
2024
£
21,830
25,502
8,617
72,554
42,304
170,807		 Group
2023
£
19,758
27,431
4,951
125,389
32,629
210,158		 Charity
2024
£
21,830
22,958
-
72,554
41,053
158,395		 Charity
2023
£
19,758
24,004
-
125,389
31,379
200,530

continued...

Page 34

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group and Charity
Bank loans (see note 20)
20.
LOANS
Group and Charity
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal		 2024
£
824,851
2024
£
1,001
20,829
21,830
22,501
109,588
692,762		 2023
£
845,880
2023
£
718
19,040
19,758
20,829
101,441
723,610

Loans have been taken out during the period to fund the acquisition of Enterprise House, Littlemoor House and Apperknowle Farm and the loans are secured against the properties.

21. LEASING AGREEMENTS

Group and Charity

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2024
£
40,055
17,224
57,279		 2023
£
57,583
6,978
64,561

Lease payments recognised as an expense during the year totalled £100,066 (2023: £75,280).

continued...

Page 35

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

22. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Unrestricted funds
General fund
Subsidiary Company Reserves
Restricted funds
Savoy Kitchen Equipment Grant
Percy Bilton
Beatrice Laing Trust
Bernard Sunley
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Subsidiary Company Reserves
Restricted funds
Savoy Kitchen Equipment Grant
Percy Bilton
Beatrice Laing Trust
Bernard Sunley
TOTAL FUNDS		 At 1/9/23
£
1,835,268
10,262
1,845,530
12,055
-
-
-		 Net
movement
in funds
£
45,691
8,636
54,327
(2,890)
5,750
3,833
4,792		 At 31/8/24
£
1,880,959
18,898
1,899,857
9,165
5,750
3,833
4,792
23,540
1,923,397
Movement
in funds
£
45,691
8,636
54,327
(2,890)
5,750
3,833
4,792
11,485
65,812
12,055
1,857,585
Incoming
resources
£
5,693,350
194,742
5,888,092
-
6,000
4,000
5,000		 11,485
65,812
Resources
expended
£
(5,647,659)
(186,106)
(5,833,765)
(2,890)
(250)
(167)
(208)
15,000
5,903,092		 (3,515)
(5,837,280)

continued...

Page 36

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

22. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/9/22
£
Unrestricted funds
General fund
1,686,778
Subsidiary Company Reserves
4,923
1,691,701
Restricted funds
Savoy Kitchen Equipment Grant
-
TOTAL FUNDS
1,691,701
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
4,821,765
Subsidiary Company Reserves
181,542
5,003,307
Restricted funds
Savoy Kitchen Equipment Grant
16,000
TOTAL FUNDS
5,019,307		 Net
movement
in funds
£
148,489
5,340
153,829
12,055
165,884
Resources
expended
£
(4,673,276)
(176,202)
(4,849,478)
(3,945)
(4,853,423)		 At 31/8/23
£
1,835,267
10,263
1,845,530
12,055
1,857,585
Movement
in funds
£
148,489
5,340
153,829
12,055
165,884

continued...

Page 37

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

22. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Subsidiary Company Reserves
Restricted funds
Savoy Kitchen Equipment Grant
Percy Bilton
Beatrice Laing Trust
Bernard Sunley
TOTAL FUNDS		 At 1/9/22
£
1,686,778
4,923
1,691,701
-
-
-
-
-		 Net
movement
in funds
£
194,180
13,976
208,156
9,165
5,750
3,833
4,792
23,540		 At 31/8/24
£
1,880,958
18,899
1,899,857
9,165
5,750
3,833
4,792
23,540
1,923,397
1,691,701 231,696

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Subsidiary Company Reserves
Restricted funds
Savoy Kitchen Equipment Grant
Percy Bilton
Beatrice Laing Trust
Bernard Sunley
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
10,515,115
(10,320,935)
376,284
(362,308)
10,891,399
(10,683,243)
16,000
(6,835)
6,000
(250)
4,000
(167)
5,000
(208)
31,000
(7,460)		 Movement
in funds
£
194,180
13,976
208,156
9,165
5,750
3,833
4,792
23,540
231,696
10,922,399
(10,690,703)

continued...

Page 38

Landmarks Specialist College

Notes to the Financial Statements - continued for the Year Ended 31 August 2024

22. MOVEMENT IN FUNDS - continued

Savoy Kitchen Equipment grant

Grant received to fund the purchase of kitchen equipment for Phoenix House.

Percy Bilton

Grant received to fund the purchase of a new van for the college.

Beatrice Laing Trust

Grant received to fund the purchase of a new van for the college.

Bernard Sunley

Grant received to fund the purchase of a new van for the college.

23. RELATED PARTY DISCLOSURES

The charitable company owns 100% of its subsidiary Landmarks Training Enterprises Limited. During the year, expenditure was recharged of £24,969 to the subsidiary company (2023: £19,731) for audit, accountancy, repairs and stock purchases. At the year end amounts totalling £13,120 (2023: £13,368) are included within debtors owed to the parent company.

No amounts were written off during the period, and no amount was outstanding at the year end.

24. POST BALANCE SHEET EVENTS

On the 24th January 2025, property was acquired in Nottingham, 395 Mansfield Road for the value of £698,973.

Page 39

Landmarks Specialist College

Detailed Statement of Financial Activities for the Year Ended 31 August 2024

Unrestricted
funds
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
3,123
Other trading activities
Fundraising events
741
Archer Pub income
205,870
Apperknowle livery income
-
206,611
Investment income
Deposit account interest
4,844
Charitable activities
Income received for education services
5,653,969
Grants
17,772
5,671,741
Other income
Other income
1,773
Total incoming resources
5,888,092
EXPENDITURE
Other trading activities
Trading costs
117,380
Trading activities - other costs
68,726
186,106
Charitable activities
Wages
3,393,231
Social security
288,932
Pensions
197,012
Rent and rates
139,586
Insurance
57,501
Carried forward
4,076,262		 Restricted
funds
£
-
-
-
-
-
-
-
15,000
15,000
-
15,000
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
3,123
741
205,870
-
206,611
4,844
5,653,969
32,772
5,686,741
1,773
5,903,092
117,380
68,726
186,106
3,393,231
288,932
197,012
139,586
57,501
4,076,262		 2023
Total
funds
£
1,783
3,683
185,929
400
190,012
1,393
4,791,317
33,438
4,824,755
1,364
5,019,307
110,792
65,410
176,202
2,887,771
238,362
154,547
100,584
38,970
3,420,234

This page does not form part of the statutory financial statements

Page 40

Landmarks Specialist College

Detailed Statement of Financial Activities for the Year Ended 31 August 2024

Unrestricted
funds
£
Charitable activities
Brought forward
4,076,262
Light and heat
56,436
Telephone
48,848
Postage and stationery
83,909
Advertising
58,208
Sundries
45,684
Beneficiary costs
288,896
Repairs and renewals
133,296
Mini bus and car expenses
63,724
Travel and subsistence
71,461
Staff recruitment
65,576
Cleaning
54,042
Staff training
59,613
Legal and professional
76,524
Speech and language contract
105,519
Teaching and support costs
25,538
Bad debt provision
-
Bank charges
909
Bank loan interest
66,256
Depreciation of tangible fixed assets
254,058
5,634,759
Support costs
Governance costs
Auditors' remuneration
12,900
Total resources expended
5,833,765
Net income
54,327		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,515
3,515
-
3,515
11,485		 2024
Total
funds
£
4,076,262
56,436
48,848
83,909
58,208
45,684
288,896
133,296
63,724
71,461
65,576
54,042
59,613
76,524
105,519
25,538
-
909
66,256
257,573
5,638,274
12,900
5,837,280
65,812		 2023
Total
funds
£
3,420,234
37,576
32,466
98,642
15,389
31,740
211,745
119,223
47,964
54,507
36,991
51,684
78,742
111,773
66,953
4,068
13,665
935
38,177
191,847
4,664,321
12,900
4,853,423
165,884

This page does not form part of the statutory financial statements

Page 41