COMPANY REGISTRATION NUMBER: 04086997
CHARITY REGISTRATION NUMBER: 1087337
The ABDO College of Education
Company Limited by Guarantee
Financial Statements
31 December 2024
BURGESS HODGSON AUDIT LIMITED
Chartered accountants & statutory auditor
Camburgh House
27 New Dover Road
Canterbury
Kent
CT13DN

The ABDO College of Education
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2024
Page
Trustees, annual report (incorporating the director's report)
Independent auditorfs report to the members
Statement of financial activities (including income and
expenditure account)
14
Statement of financial position
Statement of cash flows
15
16
Notes to the financial statements
17

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 December 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 December 2024.
Reference and administrative details
Registered charity name The ABDO College of Education
Charity registration
number
1087337
Company registration
number
04086997
Principal office and
registered
office
Godmersham Park
Godmersham
Canterbury
CT4 7DT
England
The trustees
Mr K Gutsell GBDO (Hons) SLD
Mrs G M Dynan FBDO
Mr l A Vvllls Bsc Mcoptom
(Resigned 24 July 2025)
(Term ended 5 November 2024)
(Term ended 6 November 2024)
Mr D V E Newsome FBDO R CL SMC(fech)
Mr C Marchant F8DO
Ms S Begum FBDO
Mr L Thomas FBDO
Ms C Walsh FBDO CL SMC (Tech)
Ms H Wilkinson FBDO
Mrs BA Rennie
Ms D Bill
(Term ended 9 May 2024 and
reappointed 08 February 2025)
(Term ended 12 February 2025)
(Resigned ended 27 July 2025)
(Term ended 24 July 2025)
(Appointed 9 May 2024)
(Appointed 24 July 2025)
Company secretary
Mr Alistair Bridge
Auditor
Burgess Hodgson Audit Limited
Chartered accountants & statutory auditor
Camburgh House
27 New Dover Road
Canterbury
Kent
CT13DN
Bankers
Barclays Bank PIC
Level 27
1 Churchill Place
London
E14 5HP

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
Bankers
Investec Wealth & Investment
2 Gresham Street
London
EC2V 7QP
Solicitors
Hempsons
40 Villiers Street
London
WC2N 6NJ

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
Structure, governance and management
Governing Document
The Company is constituted by Memorandum and Articles of Association as a company limited by
guarantee, not having share capital and the company number is 04086997. The company obtained
charitable status on the 3 July 2001, and registered with the Charity Commission and the Charity's
registered number is 1087337.
ABDO College is based and registered at Godmersham Park, Godmersham, Canterbury, CT4 7DT.
Appointment of Trusiees
The Association of British Dispensing Opticians is a member of ABDO College, whose trustees
include up to ten trustees appointed by their board of directors.
The board of directors of the Association has the right to appoint up to six trustees who serve for four
years after which they retire but are eligible for re-appointment for one further term of four years.
Trustee Induction
New trustees are made aware of their legal obligations under charity and company law, the contents
of the Memorandum and Articles of Association and all relevant undertakings with regard to the
management of the charity's affairs. On appointment, new trustees also meet with senior academic
staff and with executive management to obtain information and understanding of the College's
operations.
Organisational Structure
The board of trustees, which meets quarterly, administers the Charity. The general secretary has been
appointed by the trustees to manage the day to day operations of the college within the terms of
delegation approved by the trustees.
Risk Management
The trustees actively review the major risks that the charity faces during regular meetings. The
financial support undertakings by the ABDO College of Education are considered sufficient to meet all
known commitments and normal financial risks until the charity becomes fully self-supporting.
The trustees have also examined the other operational and business risks faced by the charity and
consider they have established adequate systems and controls to mitigate all significant risks.
Investment Powers and Resirictions
The board of trustees have the power to employ a professional investment manager, who is entitled to
carry out an investment business under the provisions of the Financial Services Act 1986 (or any
statutory modification or re-enactment thereofj, to exercise the power of investment subject to the
policy guidelines drawn up by the board of trustees and within the powers of investment allowed by
law.

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
Public Benefit
Our core business is as a specialist College serving the needs and requirements of the optical
profession. We do this through the provision of recognised qualifications in a regulated profession and
in partnership with key stakeholders. College courses include Optical Assistant courses, Fellowship
Diploma in Ophthalmic Dispensing (Level 6), a Bsc degree level programme and Contact Lens
courses. In support of the advancement of the profession, a key focus of 2024 was becoming both a
recognised apprenticeship provider and the development of the FBDO Ophthalmic Dispensing
apprenticeship for August 2024 launch.
In delivering our mission, the College provides the following identifiable public beneffts through the
advancement of education..
High-quality teaching
Strong links across the sector
Partnership with employers
Working with employers to support a focus on inclusivity in our learner base
Excellent employment record for learners
strong learner outcomes.
Our 2024 enrolment figures were broadly in line with those of 2023 and the enrolment of Y1
apprentices exceeded the expected intake. The recruitment success of the apprenticeship offer in its
first year provides a firm foundation to build on, with a key performance indicator being strong student
recruitment to ensure a robust financial foundation. Across 2024, 688 students started their studies
with us.

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
Objectives and activities
Mission & Vision
In 2024, we reviewed and consulted on our mission and vision, with final approval by our Board of
Trustees.. The mission of ABDO College is to advance the optical profession through the provision of
high quality, innovative education and training. Our vision is to deliver sector-leading education as
the specialist training provider of choice for all aspects of optical education.
Quality of Learning & Curricula Developments
The College is committed to providing high-quality education, to increasing educational opportunities
for the profession and to widening the range of students we support. Our range of courses support
individuals to achieve their learning goals, with skills equipping them to support the ongoing
development of the regulated sector. The College works collaboratively with numerous stakeholders,
including regulatory bodies, statutory agencies, educational partners, employers, supervisors and
students, in the development and continual improvement of our offer.
We are committed to developing and delivering an outstanding student experience and ensuring our
curricula meet the evolving needs of the sector, our employers and our students. This was a key focus
in 2024 and remains so across 2025 as we review and refine our approach to multiple stakeholder
engagement. Key learning and curricula developments included..
Successful accreditation as a recognised provider of apprenticeships
Development & launch of the FBDO Ophthalmic Dispensing higher-level apprenticeship (level 6)
Successful revalidation of our programmes by our regulatory oversight body, the General Optical
Council (GOC)
Review and updating of the FBDO syllabus to integrate the regulatory outcomes of the GOC'S
Education Strategic Review
Review of programme structure and balance on the FBDO Diploma to ensure a sustainable and
inclusive one programme approach
Ensuring a successful teach out of our degree provision in partnership with Canterbury Christ
Church University
Our overall student pass rates continue to be the highest across the sector and 2024 outcomes
tracked avslightly higher than the previous year across most units.
Student success is a key performance indicator and the College is working with ABDO Exams
across 2025 to review and improve the overall approach to assessment for students.

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
Achievements and performance
Achievements & Perfomiance
The team at ABDO College is passionate about professional development through recognised
qualifications. The College courses include Optical Assistant courses, Fellowship Diploma in
Ophthalmic Dispensing (Level 6) courses and contact lens courses.
Further achievements in 2024 in service of our mission include..
Review of our overall approach to stakeholder engagement to ensure a focus on continual
improvement and holistic engagement
Development and launch of a student experience strategy
Investment in a new IT system for apprenticeships (Aptem) and HR system (Breathe) to support
the resilience of College systems
Review and implementation of a sustainable management structure
Investment in our people through a review of workforce planning and ongoing professional
development
Vvholescale review of Health and Safety
Greater cross-sector collaboration.
Financial review
Financial Perfomiance
During the year under review, the College made a net income of £170,296 after charging depreciation
and amortisation of £73,749. The investments recorded an unrealised gain of £13,533.
Reserves Policy
The Board of Trustees of the College reviews financial reserve levels annually. This review considers
the nature of the College's income and expenditure streams, the need to match income with ongoing
commitments, and the purpose and sufficiency of the reserves held. The College has a written
reserves policy, reviewed each year, which reflects its commitment to using financial resources to
enhance educational provision while balancing the need to avoid holding excessive reserves.
Nevertheless, the Charity recognises that an appropriate level of usable reserves is essential to..
protect the College from unforeseen financial risks,. provide for asset replacement., support areas of
planned investment., and enable the funding of future plans or projects that cannot be met from a
single year's budget alone. The identification of such needs informs decisions to set aside funds.
Consequently, the Board seeks to maintain reserves at a level that supports the Charity's ongoing
activities and primary educational objectives.
As at the year end, the Charity's reserves are held as follows.. unrestricted funds of £1,853,205 (2023-
£1,682,909) and restricted funds of £9,659 (2023- £9,659).

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
Trustees. responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
the trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charrties SORP;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that..
so far as they are aware, there is no relevant audit information of which the charity's auditor is
unaware,. and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charity's auditor is aware of that
information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies exemption.

The ABDO College of Education
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 December 2024
The trustees, annual report was approved on 0910912025 and signed on behalf of the board of trustees
by..
Daryl Np.w%iiiiie (Sep 26, 2025 11.1438 GMT+5.5)
Alistair Bridge {Sep 23, 2025 09..24'.24 GMT+I)
Mr D Newsome FBDO R CL SMC(Tech)
Trustee
Mr Alistair Bridge
Charrty Secretary

The ABDO College of Education
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ABDO College of
Education
Year ended 31 December 2024
Opinion
We have audited the financial statements of The ABDO College of Education (the 'charity') for the year
ended 31 December 2024 which comprise the statement of financial activities (including income and
expenditure account), statement of financial position, statement of cash flows and the related notes,
including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charity's affairs as at 31 December 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.,
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
Ilve conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described
in the relevant sections of this report.

The ABDO College of Education
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ABDO College of
Education (continuedj
Year ended 31 December 2024
Other infomiation
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
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 othetwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
Ilve 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 trustees, report for the financial year for which the financial
statements are prepared is consistent with the financial statements., and
the trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the
course of the audit, we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if, in our opinion..
adequate accounting records have not been kept, 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 trustees, remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the
directors, report and from the requirement to prepare a strategic report.
10-

The ABDO College of Education
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ABDO College of
Education (continuedj
Year ended 31 December 2024
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concem basis of accounting un less the trustees either intend to liquidate the charity or to cease
operations, or have no realistic altefflative but to do so.
Auditors responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below:
We identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and then design and perform audit procedures responsive to those risks, including
obtaining audit evidence that is sufficient a nd appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, we have considered,. the nature of the industry, control
environment and the charity's performance.
Throughout the audit testing we are considering the incentives that may exist within the organisation
for fraud. Key areas include timing of recognising income around the year end, posting of unusual
journals and manipulating the charity's performance measures to meet targets. In common with all
audits under ISAS (UK), we are also required to perfonn specific procedures to respond to the risk of
management override.
We ensure we have an understanding of the relevant laws and regulations and remain alert to
possible non-compliance throughout the audit. Despite proper planning and audit work in accordance
with auditing standards there are inherent limitations and unavoidable risk that we may not detect
some irregularities and material misstatements in the financial statements. We are not responsible for
preventing non-compliance and cannot be expected to detect non-compliance with all laws and
regulations.
11

The ABDO College of Education
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ABDO College of
Education (continuedj
Year ended 31 December 2024
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
eviden￿ that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events or conditions may cause the charity
to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the fina ncial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
12-

The ABDO College of Education
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ABDO College of
Education (continuedj
Year ended 31 December 2024
Use of our report
This report is made solely to the charity'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
charity's members those matters we are required to state to them in an auditorfs 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 charity and the charity's members as a body, for our audit work, for this report,
or for the opinions we have formed.
Roderick Archibald (Senior Statutory Auditor)
For and on behalf of
Burgess Hodgson Audit Limited
Chartered accountants & statutory auditor
Camburgh House
27 New Dover Road
Canterbury
Kent
CT13DN
13-

The ABDO College of Education
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
funds
Note
Income and endowments
Charitable activities
Other trading activities
Investment income
Other income
2,744,785
13,167
26,309
2,744,785
13,167
26,309
2,833,054
12,433
7,692
(700)
2,852,479
Total income
2,784,261
2,784,261
Expenditure
Expenditure on charitable activities
Total expenditure
9,10 2,627,498
2,627,498
2,627,498
2,627,498
2,635,795
2,635,795
Net gains on investments
12
13,533
13,533
11,132
Net income and net movement in funds
170,296
170,296
227,816
Reconciliation of funds
Total funds brought forward
Total funds carried fO￿ard
1,682,909
1,853,205
9,659
1,692,568
1,862,864
1,464,752
1,692,568
9,659
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 17 to 28 form part of these financial statements.
14-

The ABDO College of Education
Company Limited by Guarantee
Statement of Financial Position
31 December 2024
2024
2023
Note
Fixed assets
Intangible assets
Tangible fixed assets
Investments
17
18
19
162,244
171.127
242,827
576,198
86,536
193,825
231,462
511,823
Current assets
Stocks
Debtors
Cash at bank and in hand
20
21
38,203
376,215
1,181,592
1,596,010
40,515
354,167
1,442,065
1,836,747
Creditors: amounts falling due within one year
Net current assets
22
280,157
575,656
1,315,853
1,892,051
1,261,091
1,772,914
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
23
29,187
1,862,864
80,346
1,692,568
Net assets
Funds of the charity
Restricted funds
Unrestricted funds
9,659
1,853,205
1,862,864
9,659
1,682,909
1,692,568
Total charity funds
25
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on
0910912025 and are signed on behalf of the board by..
Dciryl NpiJJ%iiirie (Sei) 26, 2025 11.1438 GMT+S.5)
Mr D Newsome FBDO R CL SMC(Tech)
Trustee
Alistair Bridge (Sep 23, 2025 09:24:24 GMT+l)
Mr Alistair Bridge
Charity Secretary
The notes on pages 17 to 28 form part of these financial statements.
15-

The ABDO College of Education
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2024
2024
2023
Cash flows from operating activities
Net income
170,296
227,816
Adjustments for..
Depreciation of tangible fixed assets
Amortisation of intangible assets
Net gains on investments
Dividends, interest and rents from investments
Other interest receivable and similar income
Accrued (income)lexpenses
46,946
26,803
(13,533)
(5,905)
(20,404)
1245,986)
48,473
16,557
(11,132)
(5,737)
(1 ,955)
183,146
Changes in."
Stocks
Trade and other debtors
Trade and other creditors
2,312
(22,048)
(38,932)
1100,451)
1,479
7,091
47,805
513,543
Cash generated from operations
Interest received
20,404
(80,047)
1,955
515,498
Net cash (used in)/from operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of tangible assets
Purchase of intangible assets
Purchases of other investments
Proceeds from sale of other investments
5,905
(24,248)
1102,511)
(96,776)
98.944
1118,686)
5,737
(60,007)
(56,480)
58,623
(52,127)
Net cash used in investing activities
Cash flows from financing activities
Proceeds from borrowings
Net cash used in financing activities
(61,740)
(61,740)
(41,667)
(41,667)
Net (decreasellincrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
1260,473)
1,442,065
1,181,592
421,704
1,020,361
1,442,065
The notes on pages 17 to 28 form part of these financial statements.
16-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
General infomiation
The charity is a public benefit entity and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the
registered office is Godmersham Park, Godmersham, Canterbury, CT4 7DT, England.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The ABDO College, a registered charity, was originally established under the auspices of The
Association of British Dispensing Opticians. As part of its support for the charity the Association
entered into a deed of grant on the 14th February 2016 to assist the ABDO College in meeting its
debts as they fall due and in the furtherance of its charitable objectives for a period of five years.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or
endowment funds.
17-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
Accounting policies (continued)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the
charity, it is probable that the economic benefits associated with the transaction will flow to the
charity and the amount can be reliably measured. The following specific policies are applied to
particular categories of income-
Income from donations or grants is recognised when there is evidence of entitlement to the gift,
receipt is probable and its amount can be measured reliably.
Legacy income is recognised when receipt is probable and entitlement is established.
Income from donated goods is measured at the fair value of the goods unless this is impractical
to measure reliably, in which case the value is derived from the cost to the donor or the
estimated resale value. Donated facilities and services are recognised in the accounts when
received if the value can be reliably measured. No amounts are included for the contribution of
general volunteers.
Income from contracts for the supply of services is recognised with the delivery of the contracted
service. This is classified as unrestricted funds unless there is a contractua I requirement for it to
be spent on a particular purpose and returned if unspent, in which case it may be regarded as
restricted.
Course fees are recognised in full upon commencement of the course with an accrual made to
represent the direct costs incurred after the year-end in connection with the provision of the
course. Textbook sales are accounted for at the time of sale.
The charity also receives income from the Education and Skills Funding Agency (ESFA) for the
delivery of apprenticeship training programmes under the Department for Education (DfE)
funding model. Under this model, the total agreed funding for each apprenticeship programme is
typically split as follows.. 80 % is paid in equal monthly instalments over the planned duration of
the apprenticeship, normally 36 months. 200/0 is held back and paid as a completion payment
upon the learner reaching the end of their programme and attempting the End Point Assessment
(EPA)
Recognition of Monthly Funding (800/0)
Revenue attributable to the first 800/0 of the total funding is recognised monthly on a straight-line
basis over the agreed delivery period, provided the learner remains on programme and the
company continues to fulfil its contractual delivery obligations. If a learner withdraws early,
revenue is recognised only up to the date of withdrawal, and any unearned amounts received in
advance are deferred and recognised as a liability.
Recognition of Completion Payment (20°h)
The final 20Q/o completion payment is recognised as revenue only when all the following
conditions are met.. The apprenticeship programme has been fully delivered,. The learner has
attempted the End Point Assessment (EPA),. and - The ESFA has accepted the associated
funding claim.
18-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates..
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable
trading activities, and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those support
costs and costs relating to the governance of the charity apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Resources expended are recognised upon commencement of the course on an accrual basis to
match the expenses connected with running the courses with the fee income received. Costs
deemed to be directly attributable to the running of the college courses are allocated to direct
charitable expenses including charges from The Association of Brrtish Dispensing Opticians and
the irrecoverable element of VAT.
Government grant income
Govemment grants are recognised using the accrual model and the performance model. Under
the accrual model, government grants relating to revenue are recognised on a systematic basis
over the peric*Js in which the company recognises the related costs for which the grant is
intended to compensate. Grants that are receivable as compensation for expenses or losses
already incurred or for the purpose of giving immediate financial support to the entity with no
future related costs are recognised in income in the period in which it becomes receivable.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease
term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any
accumulated amortisation and impairment losses. Any intangible assets carried at revalued
amounts, are recorded at the fair value at the date of revaluation, as determined by reference to
an active market, less any subsequent accumulated amortisation and subsequent accumulated
impairment losses.
19-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
Accounting policies (continued)
Intangible assets (contlnuedj
Intangible assets acquired as part of a business combination are only recognised separately from
goodwill when they arise from contractual or other legal rights, are separable, the expected future
economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful life of that asset as follows..
Website
Copyrights
Software
Course Development
10 % straight line
10 % straight line
100/0 Straight line
100/¢ Straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or
residual value of an intang ible asset, the amortisation is revised prospectively to reflect the new
estimates.
Tangible assets
All fixed assets are initially recorded at cost. Depreciation is calculated to write off the cost of an
asset, less its estimated residua I value, over the useful economic life of the asset.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows..
Long Leasehold Property
Fixtures and Fittings
Computer Equipment
Lab Equipment
7. 50/0 Straight line
200/0 Straight line
330/0 Straight line
150A straight line
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair
value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Vvhere the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
-20-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
Accounting policies (continued)
Impairment of fixed assets (contlnuedj
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cash-
generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of
the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
the stock to its present location and condition.
Financial instrurnents
Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into.
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and
loss account in other administrative expenses.
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less
impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund. When
contributions are not expecled to be settled wholly within 12 months of the end of the reporting
date in which the employees render the related service, the liability is measured on a discounted
present value basis. The unwinding of the discount is recognised as an expense in the period in
which it arises.
The charity contributes to the personal pension plans of certain employees, subject to a
maximum of 100/0 of the employees annual salary. Such contributions are held independently of
the charities finances. The contributions made are charged to the profit and loss account as they
arise.
Limited by guarantee
The charity is a company limited by guarantee and has no share capital. Each member of the
College will undertake to contribute such amount as may be required (not exceeding £20) to the
College's assets if it should be wound up, either whilst a member or within one year of his or her
membership ceasing.
21

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Course fees and accommodation
Text books and rules
Rental income
Apprenticeship income
2,446,803
88,715
7,267
202,000
2,744,785
2,446,803
88,715
7,267
202,000
2,744,785
2,730,363 2,730,363
97,091
97,091
5,600
5,600
2,833,054 2,833,054
Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Sponsorships
13,167
13,167
12,433
12,433
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Dividends
Bank interest receivable
Interest on loans
5,905
10,820
9,584
26,309
5,905
10,820
9,584
26,309
5,737
1,955
5,737
1,955
7,692
7,692
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Govemment grant income
(700)
(700)
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Charitable activity
Support costs
2,204,172
423,326
2,204,172
423,326
2,123,854
511,941
2,123,854
511,941
2,627,498
2,627,498
2,635,795
2,635,795
-22-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
10. Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Charitable activity
Govemance costs
2,204,172
309,202
114,124
423,326
2,513,374
114,124
2,627,498
2,484,275
151,520
2,635,795
2,204,172
11. Analysis of support costs
Analysis of
support costs Total 2024 Total 2023
Finance costs
Governance costs
Irrecoverable VAT
ABDO charges - payable
(9,667)
117,269
109,202
200,000
416,804
(9,811)
117,269
109,202
200,000
416,804
13,685
151,520
89,421
271,000
525,626
12. Net gains on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gain l (Loss) on investment assets
13,533
13,533
11,132
11,132
13. Net income
Net income is stated after chargingl(crediting)'.
2024
2023
Amortisation of intangible assets
Depreciation of tangible fixed assets
26,803
46,946
16,557
48,473
14. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
14,650
13,925
During the year, the company's auditor changed from Burgess Hodgson LLP to Burgess
Hodgson Audit Limited following a change in legal structure of the audit firm. The responsible
individual remains the same.
-23-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
15. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
Other employee benefrts
949,596
78,734
76,561
5,625
1,110,516
1,113,022
74,792
67,101
1,254,915
The average head count of employees during the year was 22 (2023.. 20). The average number
of fulktime equivalent employees during the year is analysed as follows..
2024
No.
2023
No.
Number of leadership staff
Number of direct charitable staff
18
20
The number of employees whose remuneration for the year fell wrthin the following bands, were..
2024
2023
No.
No.
£80,000 to £89,999
£100,000 to £109,999
16. Trustee remuneration and expenses
No trustee received any remuneration during the year.
17. Intangible assets
Course
Software development
Website
Copyrights
Total
Cost
At 1 January 2024
Additions
111,329
25,000
165,516
301,845
102,511
404,356
102,511
102,511
At 31 December 2024
111,329
25,000
165,516
Amortisation
At 1 January 2024
Charge for the year
At 31 December 2024
111,329
25,000
78,980
16,552
215,309
26,803
242,112
10,251
111,329
25,000
95,532
10,251
Carrying amount
At 31 December 2024
69,984
92,260
162,244
86,536
At 31 December 2023
86,536
-24-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
18. Tangible fixed assets
Long
Leasehold Fixiures and
Property
fittings
Computer
Lab
Equipment Equipment
Total
Cost
At 1 January 2024
Additions
266,626
3,754
270,380
125,812
8,548
134,360
213,586
11,946
225,532
390,854
996,878
24,248
1,021,126
At 31 December 2024
390,854
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
163,616
12,528
176,144
116,135
3,505
175,173
18,211
348,129
12,702
803,053
46,946
119,640
193,384
360,831
849,999
Carrying amount
At 31 December 2024
94,236
14,720
32,148
30,023
171,127
At 31 December 2023
103,010
9,677
38,413
42,725
193,825
19. Investments
Cash or cash
other
equivalents investments
Total
Cost or valuation
At 1 January 2024
Additions
Disposals
Fair value movements
3,970
52,815
(46,273)
227,492
43,961
(52,815)
13,677
232,315
231,462
96,776
(99,088)
13,677
242,827
At 31 December 2024
10,512
Impainnent
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December2024
10,512
3,970
232,315
227,492
242,827
231,462
At 31 December 2023
All investments shown above are held at valuation.
Listed investments
The aggregate market value of listed investments is £242,827 (2023: £216,572).
20. Stocks
2024
2023
Stock
38,203
40,515
-25-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
21. Debtors
2024
2023
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
Other debtors
65,628
283,958
10,355
16,274
376,215
215,810
101,311
23,764
13,282
354,167
22. Creditors: amounts falling due within one year
2024
2023
Bank loans
Trade creditors
Accruals and deferred income
Social securrty and other taxes
50,034
34,226
171,598
24,299
280,157
60,615
82,242
417,584
15,215
575,656
23. Creditors: amounts falling due after more than one year
2024
2023
Bank loans
29,187
80,346
24. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £76,561 {2023'. £67,101).
25. Analysis of charitable funds
Unrestricted funds
At
1 January 20
24
At
Gains and 31 December
losses
2024
Income Expenditure
Unrestricted Fund
1,682,909
2,784,261 (2,627,498)
13,533
1,853,205
At
1 January 20
23
At
Gains and 31 December
losses
2023
Income Expenditure
Unrestricted Fund
1,455,093
2,852,479 (2,635,795)
11,132
1,682,909
-26-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
25. Analysis of charitable funds (continued)
Restricted funds
At
1 January 20
24
At
Gains and 31 December
losses
2024
Income Expenditure
Restricted Fund
9,659
9,659
At
1 January 20
23
At
Gains and 31 December
losses
2023
Income Expenditure
Restricted Fund
9,659
9,659
In 2003 the Charity received a donation of £20,000 with the requirement that this be used only for
the furtherance of the Charity's Library. This is held in a restricted fund. All other funds are
unrestricted.
26. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Intangible assets
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
162,244
161,468
242,827
1,596,010
(280,157)
(29,187)
1,853,205
162,244
171,127
242,827
1,596,010
1280,157)
(29,187)
1,862,864
9,659
9,659
Unrestricted Restricted Total Funds
Funds
Funds
2023
Intangible assets
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
86,536
184,166
231,462
1,836,747
(575,656)
(80,346)
1,682,909
86,536
193,825
231,462
1,836,747
(575,656)
(80,346)
1,692,568
9,659
9,659
-27-

The ABDO College of Education
Company Limited by Guarantee
Notes to the Financial Statements {￿ntinUed)
Year ended 31 December 2024
27. Analysis of changes in net debt
At
At 1 Jan 2024 Cash flows 31 Dec 2024
Cash at bank and in hand
Debt due within one year
Debt due after one year
1,442,065
(60,615)
(80,346)
1,301,104
(260,473) 1,181,592
10,581
(50,034)
51,159
(29,187)
(198,733) 1,102,371
28. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows..
2024
2023
Not laterthan 1 year
Later than 1 year and not later than 5 years
Later than 5 years
313,603
1,185,122
3,511,040
6,009,765
318,783
1,199,942
3,803,627
5,322,352
29. Related parties
The Association of British Dispensing Opticians is a member of The ABDO College of Education.
Up to six Trustees of ABDO College are appointed by The Association of British Dispensing
Opticians. Three trustees of the ABDO College of Education are directors of The Association of
British Dispensing Opticians.
The Association of British Dispensing Opticians charged The ABDO College of Education
£200,000 (2023.. £271,000) in respect of administrative wages and general expenses.
At the year end The ABDO College of Education was owed £283,958 (2023.. £101,311) by The
Association of British Dispensing Opticians.
-32-