Charity registration number 1048514 (England and Wales)
OAKHILL COLLEGE CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
OAKHILL COLLEGE CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr A J Baron Mr L J Baron Mr J Whowell Charity number (England and Wales) 1048514 Principal address Oakhill College Wiswell Lane Whalley Lancashire United Kingdom BB7 9AF Independent examiner Xeinadin Ground Floor, Citygate Longridge Road Preston PR2 5BQ
OAKHILL COLLEGE CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
OAKHILL COLLEGE CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The Trustees present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The objectives of the charity are to advance the education of the pupils of Oakhill College (Whalley) Limited.
During the year, the Trust became operational, having previously been dormant. The Trustees determined that the Trust would assume responsibility for the provision of transport for pupils travelling between home and school. This service had previously been provided directly by Oakhill College (Whalley) Limited.
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The provision of safe, reliable transport supports the advancement of education by enabling pupils to access schooling consistently, safely and on time. The Trustees consider that this activity delivers public benefit by supporting pupils’ attendance and participation in education.
Activities
During the year, the Trust provided a transport service between home and school for pupils of Oakhill College (Whalley) Limited. The service is provided for a fee charged to Oakhill College (Whalley) Limited. Charges are set to cover the costs of providing the service and to support the Trust’s charitable objectives.
Achievements and performance
Significant activities and achievements against objectives
This was the first year in which the Trust undertook active operations. The Trust successfully established and operated the transport service throughout the year, ensuring continuity of provision following the transfer of responsibility from the school. The service enabled pupils to travel safely between home and school and supported the Trust’s objective of advancing education.
Financial review
The Trust generated income from the provision of transport services during the year and met all associated operating costs. The year ended with a surplus, which has been retained to support the ongoing operation of the service.
Reserves policy
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Trust is a association governed by its constitution.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr A J Baron Mr L J Baron Mr J Whowell
- 1 -
OAKHILL COLLEGE CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Recruitment and appointment of trustees
Trustees are appointed in accordance with the Trust’s governing document. When a vacancy arises, the remaining Trustees have the power to appoint a new Trustee to fill the vacancy. New Trustees are provided with an induction appropriate to their role and responsibilities.
None of the Trustees has any beneficial interest in the Trust. All Trustees are members of the Association and undertake to contribute £1 in the event of the Trust being wound up.
The Trustees' report was approved by the Board of Trustees.
Trustee
20 May 2026
- 2 -
OAKHILL COLLEGE CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF OAKHILL COLLEGE CHARITABLE TRUST
I report to the Trustees on my examination of the financial statements of Oakhill College Charitable Trust (the Trust) for the year ended 31 August 2025.
Responsibilities and basis of report
As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the Trust as required by section 130 of the Charities Act 2011.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Xeinadin
Ground Floor, Citygate Longridge Road Preston PR2 5BQ 20 May 2026
- 3 -
OAKHILL COLLEGE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 2 | 77,518 | - |
| Total income | 77,518 | - | |
| Expenditure on: | |||
| Charitable activities | 3 | 69,012 | 180 |
| Total expenditure | 69,012 | 180 | |
| Net income/(expenditure) and movement in funds | 8,506 | (180) | |
| Reconciliation of funds: | |||
| Fund balances at 1 September 2024 | 20 | 200 | |
| Fund balances at 31 August 2025 | 8,526 | 20 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
OAKHILL COLLEGE CHARITABLE TRUST
BALANCE SHEET
AS AT 31 AUGUST 2025
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets The funds of the Trust Unrestricted funds 11 |
2025 £ 4,170 10,045 14,215 (5,689) |
£ 8,526 8,526 8,526 |
2024 £ - 1,340 1,340 (1,320) |
£ 20 |
|---|---|---|---|---|
| 20 | ||||
| 20 |
The financial statements were approved by the Trustees on 20 May 2026
Trustee
- 5 -
OAKHILL COLLEGE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
Charity information
Oakhill College Charitable Trust is a charitable trust.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
- 6 -
OAKHILL COLLEGE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
- The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 7 -
OAKHILL COLLEGE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
| 2 | Income from charitable activities | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Provision of transport | |||
| Services provided under contract | 77,518 | - | |
| 3 | Expenditure on charitable activities | ||
| Charitable | Charitable | ||
| expenditure | expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 24,721 | - | |
| Share of support and governance costs (see note 4) | |||
| Support | 44,291 | 180 | |
| 69,012 | 180 | ||
| Analysis by fund | |||
| Unrestricted funds | 69,012 | 180 | |
| 4 | Support costs allocated to activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Miscellaneous motor expenses | 1,630 | - | |
| Minibus fuel | 9,535 | - | |
| Vehicle repairs and servicing | 68 | - | |
| Minibus hire | 26,162 | - | |
| Minibus insurance | 4,962 | - | |
| Governance costs | 1,934 | 180 | |
| 44,291 | 180 | ||
| Analysed between: | |||
| Charitable expenditure | 44,291 | 180 |
- 8 -
OAKHILL COLLEGE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
| 5 | Net movement in funds | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | - | - |
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
7 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| 2 | - | |
| Employment costs | 2025 | 2024 |
| £ | £ | |
| Wages and salaries | 24,150 | - |
| Social security costs | 571 | - |
| 24,721 | - |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Debtors
| Debtors | ||
|---|---|---|
| Amounts falling due within one year: Other debtors Prepayments and accrued income |
2025 £ 1,625 2,545 4,170 |
2024 £ - - |
| - |
- 9 -
OAKHILL COLLEGE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
10 Creditors: amounts falling due within one year
| Other taxation and social security Trade creditors Amounts owed to fellow group undertakings Accruals and deferred income |
2025 £ 355 2,939 1,320 1,075 5,689 |
2024 £ - - 960 360 |
|---|---|---|
| 1,320 |
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of income from charitable activities, donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 | Incoming | Resources | At 31 August | |
|---|---|---|---|---|
| September | resources | expended | 2025 | |
| 2024 | ||||
| £ | £ | £ | £ | |
| General funds | 20 | 77,518 | (69,012) | 8,526 |
| Previous year: | At 1 | Incoming | Resources | At 31 August |
| September | resources | expended | 2024 | |
| 2023 | ||||
| £ | £ | £ | £ | |
| General funds | 200 | - | (180) | 20 |
12 Operating lease commitments
Lessee
At the reporting end date the Trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years |
2025 £ 21,596 23,376 44,972 |
2024 £ - - |
|---|---|---|
| - |
13 Related party transactions
Transactions with related parties
- 10 -
OAKHILL COLLEGE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
13 Related party transactions
(Continued)
During the year Oakhill College (Whalley) recharged expenses to Oakhill College Charitable Trust of £4,962 (2024: £180).
During the year the Trust charged Oakhill College (Whalley) Limited £77,518 for the provision of transport services.
As at 31 August 2025 the amount owed to Oakhill College (Whalley) Limited was £1,320 (2024: £1,320).
- 11 -