**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**
**----- 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**
**----- 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:
- Life in Modern Britain
- Animal Care
- Art & Digital Media
- Music
- Performing Arts
- Horticulture & Land based studies
- Sport & Leisure
- Hospitality & Catering
- Duke of Edinburgh Awards; Bronze, Silver and Gold
- Work Experience
- Employability
## **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:
- Working farm and land, with a range of livestock and horticultural curriculum activities that supply college and pub kitchens
- Working Public House, where learners prepare, cook, and serve food and drink to customers
- Catering kitchens and on-site Bistro
- Gardens and greenhouse
- Music and performing arts spaces
- Classrooms, 20 dedicated classrooms/resources (including video and IT equipment, dedicated PCs, and network) across all sites.
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## **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:
- Train young people with additional needs, aged 18+ to acquire the knowledge, skills and experience required for a career in the bar and restaurant trade
- Give learners the time and support they need to master aspects of their chosen career, building confidence, independence, and resilience within the workplace
- Work with national bar and restaurant companies, to offer clear routes of progression into employment - Use the livestock and produce reared and planted by learners at Apperknowle, The Archer and Littlemoor House within The Archer kitchen, reinforcing our farm-to-fork curriculum.
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)**
- Develop a strategy for "Life in modern Britain" that emphasises issues that are particularly relevant to the communities where learners live.
- Improve learners' awareness of signs and indicators of radicalisation and extremism.
- Develop the effectiveness of learning support.
## **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:
- **Financial impact of risk** . There are a range of risks we face, including the risk of an unforeseen drop in income or
- unbudgeted increases in expenditure.
- **Working capital** . A significant proportion of our reserves are represented by non-cash assets and liabilities, such
- as accrued legacy income, other debtors, and stock. These reserves are not readily available.
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.
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**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:
- Safeguarding & Prevent
- Mental Capacity
- Equality Diversity and Inclusion
- Safer Recruitment
- Female Genital Mutilation
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## **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:
- All pay to Governors (No pay is received outside of expenses)
- The number of staff in receipt of more than £60,000 per annum (in bands of £10,000)
- The annual remuneration decision for the staff pay decision.
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**
- To consider, approve and report to the Board of Governors on decisions regarding the remuneration package,
- terms, and conditions (including the annual reviews of such) and, where appropriate, severance payments of the:
- College Principal and Chief Executive
- College Executive Team
- College Employees.
## **Role and Remit**
In relation to its purpose (above), the Committee will consider:
- That senior management should be fairly rewarded for their individual performance and contribution to the College's overall performance.
- Where, in terms of remuneration, the College stands in relation to other comparable institutions in the sector.
- To oversee and approve policy and decision-making in relation to cost of living reviews.
- The relationship between gender and remuneration and the narrowing of gaps.
- The adequacy of pension arrangements and the cost implication of pension arrangement, including the pension effect of remuneration proposals.
- To consider and respond to any appeals made by senior executives in relation to Purpose above.
- To undertake other relevant duties as determined by the Board of Governors.
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.
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## **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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the governors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **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
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## **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).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Report of the Governors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Governors has been prepared in accordance with applicable legal requirements.
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:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of governors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the governors were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Governors.
## **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