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2023-06-30-accounts

Company Registration Number 4241702 Charity Number 1092000

MOORLANDS COLLEGE

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

MOORLANDS COLLEGE

INDEX TO THE ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 30 June 2023

PAGE
Administrative Information 1
Annual Report of the Trustees 2 - 13
Independent Auditors’ Report to the Trustees for the year ended 30 June 2023 14 - 16
Statement of Financial Activities (incorporating Income and Expenditure Account) 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Financial Statements 20 - 28

MOORLANDS COLLEGE

ADMINISTRATIVE INFORMATION For the year ended 30 June 2023

Charity Name: Moorlands College
Registered Office and operational address: Moorlands College
Sopley
Christchurch
Dorset
BH23 7AT
Registered Charity Number: 1092000
Company Number: 4241702
The Trustees: Siân Baker (resigned in June 2023)
Keith Brown (re-appointed Nov 2022, resigned in Feb 2023)
Jason Coltman (Treasurer)
Ruth Flanagan (resigned in Nov 2022)
John Fowler (resigned in Nov 2022)
Tim Goulding (Chair)
Graham Jeffries
Jon Loose (resigned in Nov 2022)
Matthew Moore
Kate Pinnell
Mary Reeves (resigned in Feb 2023)
Hartness Samushonga
Company Secretary: David McLellan
Executive Leadership Team: Executive Director (Principal from Aug 2023): Andy du Feu
Director of Academic Quality: Ian Kirby
Director of Learning and Student Experience: Abi Maguire
Director of Finance: David McLellan
Director of Operations: Matt Mellor
Auditors: Jacob Cavenagh and Skeet
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Bankers: Bank of Scotland plc
3 Town Quay
Southampton
Hampshire
SO14 2AQ

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES For the year ended 30 June 2023

The Trustees are pleased to present the annual and strategic report (which includes the Directors’ Report required by company law) and financial statements for the year ended 30 June 2023.

Corporate Governance

The following have been in place for the year ended 30 June 2023 and up to the date of approval of the financial statements.

Governing document and approach

The College is a charitable company limited by guarantee, incorporated on 26 June 2001 and registered as a charity on 13 May 2002. In the event of the company being wound up members are required to contribute an amount not exceeding £10. The company was established under a Memorandum of Association that established the objects and powers of the charitable company; these were incorporated into the Articles of Association in 2010, and the Articles of Association now comprise the primary governing document. The Articles of Association were revised during 2019, in step with a Governance Policy adopted in January 2019, and were approved by the Charity Commission in June 2019.

The College’s approach to governance applies the Public Interest Governance Principles of the Office for Students. It also follows the good practice for the Higher Education sector identified in “The Higher Education Code of Governance” produced by the Council of University Chairs. In particular, the Board of Trustees adopts and implements the core values of that document. The College affirms and adopts the Nolan “Principles of Public Life”, upon which the Higher Education Code of Governance builds.

Organisational structure

The Company Directors are the Trustees of the Charity. By virtue of office, as Directors and Trustees, they are voting Members of the Company and are fully responsible, under UK law, for the direction and development of the work of the College. Together they constitute the Board of Directors of the Company and the Board of Trustees of the Charity. Within this document the Directors are generally referred to as Trustees, and the Board of Directors as the Board of Trustees. This body is both unambiguously and collectively accountable for institutional activities and takes all final decisions on matters of fundamental concern to the College. Thus, the Board of Trustees is the governing body of Moorlands College in the terms of both the Office for Students and the Quality Code for Higher Education.

The Trustees who have served during the year are set out on page 1. In accordance with the Articles of Association, revised in June 2019, each Trustee is appointed for a term of three years and is required to retire at the end of that term, although they may be eligible for reappointment; Trustees must stand down for at least one year after three consecutive terms. No remuneration is paid to Trustees in the role of Trustee; expenses can be reimbursed for travel to Board meetings, for the cost of care for dependants or, for the Chair only, loss of income. Payments to Trustees for work in other capacities (usually teaching) are disclosed in Note 4 of the Financial Statements. The Trustees have been supported administratively by an employee of the College functioning as a clerk to the Board.

The Executive Leadership Team (ELT) is the key management group, led by the Principal or the Accountable Officer, for day-to-day operation of the College. ELT members attended Board meetings during the year for most items. Trustees are involved in the processes to appoint and remunerate ELT members. The Trustees review the levels of staff salaries annually and take note of the CPI, cost of living and the financial situation of the College, with no automatic entitlement to an annual salary increase. The Trustees aim that College pay levels are appropriate both to the experience and responsibilities of staff members and to the market sector. During the year the Principal’s role was vacant; the Vice-Principal (Strategy), Ian Coffey, had been appointed by the Board as Acting Principal from 12 February 2022 until 31 August 2022; the Executive Director, Andy du Feu, was appointed as the Accountable Officer from 1 September 2022, and as Principal from 1 August 2023. As part of a management team review, the ELTlevel posts of Head of Undergraduate Studies and Head of Postgraduate Studies were replaced by Director

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

of Learning and Student Experience and, reporting to it, Head of Research and Professional Development. From 1 August 2023, only the first of these is an ELT-level post.

Representation at Board meetings

The Principal, ELT members and student and staff representatives are participants in Board of Trustee meetings, providing necessary perspectives for the Board to govern effectively. The Principal and the representatives have full rights of attendance and participation in meetings but, in line with the College’s constitution as a charity, as employee and beneficiaries of that charity, they do not have voting rights. In particular, student representatives have no less rights of participation and are not in any way disadvantaged in comparison to student representatives in the governance arrangements of other Higher Education institutions where the governing body is not structured as a board of trustees bearing ultimate responsibility according to charity law. Neither the Principal nor representatives are routinely excluded from discussions, though representatives would not normally be present at discussions relating to individual, identifiable students or staff members.

Recruitment and appointment of new Trustees

The range of experience and professional expertise of Trustees is kept under review and, when seeking to appoint new Trustees, full consideration is given to any perceived gaps. New Trustees are normally identified through personal contact of existing Trustees, with the process then managed by the Nominations Committee. The Trustees have power to appoint additional Trustees; there is no maximum, but the number of Trustees should never be less than five. Prospective Trustees will normally be invited to one or more Board meetings, to observe how the Board functions, before an appointment is processed. Currently, active steps are being taken to ensure that the current number increases with appropriately skilled Trustees.

Trustee induction and training

New Trustees are inducted in accordance with an agreed procedure, meeting with key staff, and receiving details of the legal and governance structures of the College, and background to the history and current issues under consideration by the Board. Training needs of the Board and its individual Trustees are reviewed on a regular basis by the Board in conjunction with an annual self-assessment of Board performance. Trustees are regularly informed as to external trustee training courses that are available.

Risk management

The Trustees, through the Audit and Risk Committee (ARC), regularly examine the major risks that the College faces, when reviewing and updating the risk register. The risk register outlines the most significant governance, academic, planning, operational, human resources, financial and external risks, and the control and monitoring processes in place to mitigate or eliminate the risks. Progress on further actions identified to mitigate risks or improve control processes are monitored and reported back to ARC and to the Board as required. Two of the major risks are loss of income through low student numbers, mitigated by continuous marketing and maintaining the quality of our educational provision; and the impact of government and regulatory requirements, mitigated by carefully meeting current submission deadlines and developing positive relationships to monitor future change.

Advisors

Details of the College’s auditors and bankers are disclosed on page 1. During the year the College has also used the consultancy services of Keelys and MSP Business Services to provide advice and support in employment law and HR, health and safety, and food safety management within the College. We also made use of consultancy from Frank Analysis to support strategic development and fundraising initiatives, and Carnelian Search for senior staff recruitment.

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

Primary responsibilities of the Board of Trustees:

Committees

The Trustees appoint Committees, comprising representatives of the Board, supported by staff, including the Clerk to the Board, to facilitate detailed areas of its work, with a duty to report back and make recommendations to the Board of Trustees. As at 30 June 2023, these Committees comprise:

Audit and Risk: M Moore (Chair), G Jeffries, H Samushonga; with A du Feu, I Kirby, M Mellor Finance and Resources: J Coltman (Chair), T Goulding, G Jeffries; with A du Feu, D McLellan, M Mellor

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

Nominations: T Goulding (Chair), K Pinnell; with A du Feu, T Mantell Remuneration: J Coltman (Chair), T Goulding, K Pinnell; with A du Feu, D McLellan.

From time to time, the Trustees set up specific Working Groups, but none met during 22/23. Other groups covering Strategy Monitoring; Equality, Diversity and Inclusion; Recruitment Marketing and Fundraising; and Prevent are management groups, with some Trustees involved to provide input and advice.

Links with Other Educational Institutions

Links with the University of Gloucestershire have continued, both to maintain the validation requirement and to facilitate improvement of academic standards at the College. Effectiveness of the partnership between the University and the College is monitored by a major review every five years, the most recent being April 2020 when a new five-year collaborative agreement was signed lasting until August 2025.

The College works in partnership with South West Youth Ministries (SWYM) to administer the delivery of our BA degree course via our regional centre of Moorlands South West. The partnership with SWYM was reviewed during the year and continues to operate effectively.

We have a similar administrative partnership with Youthlink: NI to support the delivery of our BA degree course at our regional centre in Northern Ireland; that partnership was also reviewed during the year. Following a decision last year to suspend recruitment to that course, the NI regional centre has moved to a teach-out phase, with 2023/24 as its final year. A relationship with Youthlink: NI is expected to continue but with a marketing and recruitment focus.

The College is a member of Guild HE, and we also maintain contact with like-minded theological colleges through informal networks of Principals, Bursars and Facilities staff.

Accreditations

Since October 2018, the College has been registered with the Office for Students (OfS) as a Higher Education Provider (Approved Fee Cap status). By this, our BA and MA courses are designated, at full-time and part-time levels, for support through Student Finance. This loan support can be accessed by eligible students from all parts of the UK, in accordance with local legislation. As required by OfS registration, we participate in the National Students Survey and provide data to the Higher Education Statistics Agency.

Our BA Applied Theology (Youth and Community Work) degree is validated by the National Youth Agency as meeting the Joint Negotiating Committee professional standards for youth workers. This validation was renewed in September 2019 for a further five years, through until 2024. The same degree, as delivered at our regional centre in Northern Ireland, has received professional endorsement from the North South Education and Training Standards (NSETS), from Jan 2021 to Dec 2025.

OfS has taken on the role of the Designated Quality Body to provide assurance that we are meeting UK expectations for the academic standards of awards offered, and the quality, information and enhancement of student learning opportunities provided, through our undergraduate and postgraduate degree courses. The OfS approach has moved from a periodic assessment to one that is driven by sampling and risk-based factors.

The College is recognised by the MOD as an approved learning provider for retraining service personnel.

We work within the Home Office Prevent Duty framework to recognise and reduce the risks of radicalisation.

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

Objectives and activities

Charitable Objects

The object of the College is to maintain, advance, and promote the Christian religion and, in particular, to conduct a college for the study and teaching of the Bible and the training of Christian ministers, teachers and workers in accordance with our agreed Statement of Faith.

Vision and Mission

Moorlands College exists to equip people, passionate about Jesus Christ, to impact the church and the world.

Achievements, performance and public benefit

For 75 years the College has existed to train men and women who wish to make a difference in society and the world through their work in churches, youth work, education, social care, community work and NGOs. Most of our undergraduates are involved in weekly community service as part of their course. This supervised work takes place in local churches and other agencies and is an integral part of their training. Our graduates go on to impact people of all ages in many areas of society in the UK and around the world. The College aims to keep in touch with societal needs through the operation of professional advisory groups, placement activities, contact with graduates, other contacts working at the cutting edge, and partnership arrangements.

The results of the National Student Survey (NSS), which independently gathers leaving students’ opinions on the quality of their courses, gives positive and encouraging feedback. For 2023, the College received an overall average satisfaction across all core questions of 89%. Most scores are significantly above the sector average and our benchmark, with particularly high scores in areas of teaching, learning opportunities, assessment and feedback, and academic support. This positive feedback from our final year BA students reflects a huge amount of work and effort, especially given the challenges faced by both staff and students as a which arose from the Covid pandemic.

At a much more local level of public benefit, Christchurch campus students have served Sopley village community through voluntary initiatives. Our campus premises are also occasionally used by local churches for their Sunday services and other meetings.

We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Student beneficiaries, funding sources and fees

Our undergraduate and postgraduate students are drawn from across the UK and range in age from 18 to over 60. A high percentage of the smaller number of postgraduate students in our School of Language and Scripture come from a range of countries, primarily in Europe.

The College has significant success in enabling access of under-represented groups, especially:

Our provision focusses on professional preparation for people-helping and leadership roles, so is often more attractive to older students. This is not uncommon in theological colleges; however, we are comparatively more successful at enabling access to HE by those without previous HE experience.

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

26% of our students have provided evidence of a disability and this is significantly above the average of 17% for the general UK home student population. We believe that our undergraduate programmes’ vocational, professional focus and our reputation for Learning Assistance provision combine to encourage students, who might not otherwise enter HE, to choose Moorlands.

Adding to the College’s successful orientation towards those less-represented socio-economically, the use of flexible learning approaches will increase our reach towards more urban locations and areas of greater social deprivation.

A high percentage of the UK undergraduate and postgraduate students can obtain funding support through government-funded student loan financing, and many augment this with personal support through grant-funding charities and churches. In addition, the College has provided grant support to a range of undergraduate students, awards being considered on a case-by-case basis by a Financial Support Panel. In the past year, the College made scholarship, bursary, hardship and other awards, totalling £23,307 to 36 different students (21/22: £32,761 to 27). These included Enable grant awards, designed to help students with disabilities to overcome challenges that might impact their success in their studies. Partial grant support was also given towards diagnostic testing, where needed by those with learning difficulties. In a year when students still suffered from the effects of covid restrictions, hardship grants, augmented by funding from OfS, were allocated by the Financial Support Panel to appropriate applicants.

Our tuition fees and accommodation and catering charges have been maintained broadly in line with the norm within the non-government-funded theological college sector. Fees are set on an annual basis with the objective of achieving a breakeven operating budget position, after allowing for inflation and the anticipated level of other income and gifts.

The College has agreed an Access and Participation Plan for the five years from 20/21 to 24/25 with OfS. This maps out how the College will widen access to Higher Education for those from disadvantaged backgrounds, support their success and enhance their progression to professional jobs or further studies.

This year’s activities

The principal activity of the College during the year has been the provision of full-time courses in biblical, theological and related studies alongside vocational training and personal development. This is in accordance with the Memorandum and Articles of Association.

1 Continuing course delivery

Studies in 2022-23 were no longer impacted by covid and a full year of face-to-face teaching was a highlight after months of on-line and hybrid approaches. However, the uncertainty caused by the pandemic has had a significant impact on our recruitment, and student enrolments at September 2022 were substantially down on pre-pandemic levels. Recruitment to our BA programme was 29, slightly up on 21/22 but down from 57 in 20/21; the intake to our range of MA programmes was over 40, back to 20/21 levels after a dip below 20 in 21/22.

Throughout the year, our investment in the employment of a student ambassador, whose role focuses on student recruitment, has been key in our efforts to recover our intake for this year and beyond, enhancing our presence at Christian exhibitions and conferences as well as on social media.

We saw good proportions of students progressing through their studies and into graduate-level employment or further study. The total number of student learners engaged during the year on our degree training courses was 191 (21/22: 218). In a graduation event in November 2022, we celebrated the award of 24 MA degrees, one Postgraduate Diploma, eight Postgraduate Certificates, and 41 BA degrees.

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

After a pause due to low intakes in 21/22, both our BA Foundation Year and the PGDip of our School of Language and Scripture (SLS) resumed in 22/23. Sadly, as mentioned above, we have stopped recruitment to the BA degree course at our regional centre in Northern Ireland, which has now moved to a teach-out phase, with 2023/24 as its final year.

In continuing the provision of our range of degree courses, we have had regular positive feedback from our External Examiners and the University of Gloucestershire about the high standard of those courses. As noted previously, the latest NSS results show an overall satisfaction rating of 89% from our leaving students.

We have made use of NCFE accreditation of our level 3 (pre-degree) programmes enabling customised awards to be made: Engaging with Applied Theology and Award in Christian Leadership. Delivery of these programmes is franchised to South West Youth Ministries (18 students, four of whom have also gained the Award in Christian Leadership) and One Church, Emsworth (five students), the latter being a new partnership in 22/23.

2 Improvement of course management and quality

During the year, our undergraduate programmes were revised; we are continuing to offer the BA programmes in the traditional campus-based mode, revolving around weekly timetables run over terms. However, we are also introducing our Flexible BA, a hybrid-delivery mode, including in each year of study four two-day, face-to-face study blocks and a carefully structured sequence of online interactions with teachers and other students, as well as independent work. The Flexible mode of delivery is replacing the current placement-based and regional centre approaches. It has been approved by the University of Gloucestershire and by the NYA, and the first cohort of 11 students starts in September 2023.

Work has continued to strengthen the College’s systems for the upholding of standards and assurance of quality; having decided to temporarily place on hold our application for authorisation to operate degree awarding powers, work has continued to maintain our standards at an appropriate level for us to initiate an application at short notice.

During the year we have also researched and explored possibilities for the provision of training in related areas of continuing professional development, and the processes by which more international students might be able to come to the UK to study on our courses.

We encourage professional development of our staff as an important contributor in improving quality. Several of our staff and students have spoken at national and international events. Regular staff training events are held through the year. As of this year, six members of our academic team now have Senior Fellowship or Fellowship with the Higher Education Academy.

3 Fundraising

In line with reporting requirements included in the Charities Act 2016 the Trustees confirm that all fundraising is done in compliance with best fundraising practice. All fundraising activities follow traditional methods, recognised as ethical for many years, and during the year we did not employ any professional fundraisers. There were no complaints or criticisms during the year about our fundraising activities.

Our Fundraising approach received an overhaul during the year, with renewed focus on enthusing current and potential donors, sharing our vision for the future and encouraging support through the Friends of Moorlands initiative and an appeal to mark our 75[th] anniversary. Undesignated gifts are by default allocated to our general fund, but several small regular gifts are designated by donors for one of our student support funds, restricted funds that are used to support and enhance the student experience at the College. We continued to benefit from the generous financial support and partnership of several

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

larger trusts, with a range of gifts that support teaching and resources in Apologetics and Evangelism, provide partial support for senior teaching posts, or assist the College with development of flexible learning, as we aim to maximise opportunities to widen and strengthen our course provision, and fulfil our mission and vision.

To mark the important milestone, we are hosting a 75th anniversary celebration and reunion for graduates in August 2023; the event will also incorporate the commissioning of our new Principal, marking the start of an exciting new chapter in the long history of the College.

4 Campus Facilities

On the Christchurch campus, we replaced the heating/hot water boiler for the Cedars residential block, upgrading it from oil to gas, replaced one of the gas boilers in the Academic block, introduced trial smart heating controls, and installed electric vehicle charging sockets. Other asset purchases included replacement IT equipment and a second-hand electric vehicle for use by campus maintenance team.

Financial Review

Income

The total income for the year amounted to £2,007,003 (21/22: £1,973,259). Our primary source of income is unrestricted income of student fees plus charges for provision of our training and development courses. The total income in 22/23 arising from our charitable activities totalled £1,825,239 (21/22: £1,839,994).

Fundraising activity, with amounts from the letting of our buildings to groups for holiday/non-educational purposes, generated income of £175,828 (21/22: £117,773). Included in this were donations of £8,777 (21/22: £9,917) for bursary funds and £30,146 (21/22: £716) for new projects. Bank interest income from College funds totalled £5,936 (21/22: £2,137).

Expenditure

Expenditure in the year totalled £2,021,140 (21/22: £2,151,708). Of this, £26,511 (21/22: £29,152) was spent on fundraising and other income-generating activity. Expenditure on main charitable activities was £1,994,629 (21/22: £2,122,556), which included depreciation charges of £85,822 (21/22: £92,324), and student support grants of £23,307 (21/22: £32,761). Capital expenditure spent on buildings, plant and equipment, totalled £58,275 (21/22: £70,591) of which £10,405 (21/22: £58,919) related to buildings investment.

Financial Health

The balance sheet shows that the College has assets in excess of liabilities. Land and freehold property is shown as the sum of purchase price and construction cost, less depreciation. The net book value of land and buildings is shown in note 5 as £4,504,087 (21/22: £4,548,667). At 1 August 2023, the buildings were insured for £15,450,426 (21/22: £13,235,153) in line with the insurance company’s valuation of rebuilding costs.

Under Financial Reporting Standard 102, unconditional multi-year donations are recognised as and when committed, not when actually received. At 30 June 2023, £nil (21/22 £nil) of grant income had been received in advance of the period to which the grant relates, shown as deferred grant income in Note 7.

The Trustees consider that the financial health of the College is satisfactory at the end of the year, with essential free reserves of £661,179 (21/22: £674,800), which equates to just over 3.9 months’ normal operating expenditure, plus additional designated and restricted funding available to fund continuing investment in the campus facilities and strategy implementation.

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

Investment Policy

The Trustees’ investment powers are governed by the Memorandum and Articles, which permit the College’s funds to be invested in stock funds, shares, securities or other investments or property. All the funds currently held are for operational and short-term purposes, rather than investment purposes, and are held in a range of bank deposits. Therefore, bank interest is the only investment income earned by the College during the year.

Reserves Policy

The College regularly reviews its reserves policy, covering both the purpose and levels of reserves held by the College, ensuring they remain appropriate to current levels of activity and proposed strategic developments. Note 9 to the financial statements shows the assets and liabilities attributable to the various funds by type. Note 8 describes the various funds of the College, summarises the year’s movements on each fund, and shows the amounts held in each fund at the end of the year.

During the year, the Trustees agreed to simplify the designated funds held by the College: two funds, the cyclical refurbishment and maintenance fund and the contingency fund, were consolidated into the general fund (see note 8). Consequently, unrestricted general funds amounted to £661,179 (21/22: £674,798 including the two fund balances above) at the year-end that are freely available funds to apply to future activities as required.

The Trustees have concluded that target reserves of at least three and, preferably, between four and six months of average operating expenditure are required to meet working capital needs for normal operational purposes, and to cover financial obligations in the event of a financial crisis. The level of essential free reserves at the end of the year covers 3.93 months’ activity at £168,400 per month.

Other restricted or designated funds are held to finance building development, student financial support, and programme development, as detailed in note 8 to the financial statements, the balances of which are considered satisfactory to meet the projected needs of the College for the immediate future.

Remuneration of the Principal

The remuneration packages for the Principal and the Acting Principal, in their terms as head of the College, are disclosed in Note 4. The process of setting these is determined by the Trustees, with recommendations made by the Remuneration Committee, which is also responsible for annual reviews of such a package, normally simple inflationary adjustments to salary. The Remuneration Committee considers comparative information from other organisations in the HE sector and from charities, and must consider the public interest and the safeguarding of public funds alongside the interests of the College. A review of the package for the Principal was carried out during the year comprises a basic salary and the standard employment pension scheme, as available to all College staff. The performance of the Principal is appraised each year by the Chair of Trustees but there are no performance-related components in the remuneration package.

Plans for Future Periods

A new strategic plan has been developed, covering the period from September 2023 to August 2028, comprising four primary goals, and incorporating several distinctive features and staff behaviours. The primary goals, with their secondary performance objectives, are as follows:

To increasingly equip students to impact the church and the world

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

To secure financial sustainability

To achieve greater independence and security through receiving Degree Awarding Powers

To ensure staff are well supported and equipped to deliver their roles

Each performance objective has one or more Key Performance Indicators aligned with it, with nominated management responsibility, and these are being overseen by the Strategic Monitoring Group.

Our undergraduate degree student intake for 23/24 is expected to be at least 38 for all our BA courses, an increase of 10 over last year. This includes an intake of 22 students at Christchurch, including six in Foundation Year, plus four students in the regional centre in the South West. Our hybrid-delivery Flexible Learning BA will have an encouraging intake of 12 in its first year.

Our intake for MA Applied Theology has risen from last year’s 16 to 19, and we will be teaching at least 20 students for the various courses run by the School of Language and Scripture. Both MA programmes will be reviewed during the coming year.

We are also continuing our work towards establishing the Vine Centre, as a centre for Evangelical Studies, with a development group working through plans and further materials in production.

Finally, the year’s planned campus development includes the installation of an accessible ensuite facility in our residential block; smart heating and lighting solutions to reduce energy consumption across the Christchurch campus; and upgrading the windows in our Firs block from single to double glazed. We will aim to maximise use of our campus premises for students during term time and to generate letting income at other times of the year.

Statement of Internal Control

As governing body of the College, the Board of Trustees recognises that it has responsibility for maintaining a sound system of internal control to support the achievement of policies, aims and objectives, whilst safeguarding the public and other funds and assets for which it is responsible, in accordance with the responsibilities assigned to it in the Articles of Association, and the requirements of such bodies as the Office for Students.

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

The system of internal control is intended to manage rather than eliminate the risk of failure to achieve policies, aims and objectives; it can therefore only provide reasonable and not absolute assurance of effectiveness. The system of internal control is based on an ongoing review process intended to identify the principal risks to the College, to evaluate the nature and extent of those risks, and to manage them efficiently, effectively and economically. The risk management approach is summarised on page 3 and is a major aspect of the work of the Audit and Risk Committee. This process has been in place for the year ended 30 June 2023 and up to the date of approval of the financial statements.

In addition to this, the Trustees oversee the College’s performance in meeting its strategic objectives through the planning and monitoring of the annual plan and budget. Regular updates on performance are presented to Trustees during the year, with a full year-end report considered in October/November. A provisional plan and budget for the following year is approved by Trustees every June, followed by the approval of a final revision in October/November, once confirmed student numbers for the academic year are known.

The Trustees have responsibility for reviewing the effectiveness of the College’s system of internal control and, via the Audit and Risk Committee, conducts periodic reviews. Trustees consider the plans and strategic direction of the College and receive reports from the Chair of Audit and Risk Committee and have access to the minutes of Audit and Risk Committee meetings. The review of the effectiveness of the system of internal control is also informed by the work of the Executive Leadership Team, who have responsibility for the development and maintenance of the internal control framework, and by comments made by the external auditors in their annual reports.

The Trustees are of the view that the College has an appropriate framework for delivering assurance on key aspects of governance, risk management and internal control, and that there is clarity in terms of the respective roles of the Audit and Risk Committee, the Finance and Resources Committee and the Board of Trustees.

With regard to regularity and propriety of public funding, the Trustees are of the view that all reasonable steps have been take, through the College’s ELT and the above committees, to:

Statement of Trustees’ Reporting Responsibilities

The Trustees (who are also directors of Moorlands College for the purposes of company law) are responsible for preparing the annual report of the Trustees and the financial statements in accordance with applicable UK law and accounting standards (see Note 1).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the College and of the income and expenditure of the College for the year. In preparing these financial statements, the Trustees are required to:

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MOORLANDS COLLEGE

ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2023

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the College 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 College and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Information provided to Auditors

In so far as the Trustees are aware:

Approved by the Trustees on 13 November 2023 and signed on their behalf by:

…………………………………………………… …………………………………………………… Tim Goulding (Chair of Trustees) Andy du Feu (Accountable Officer)

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MOORLANDS COLLEGE

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF MOORLANDS COLLEGE FOR THE YEAR ENDED 30 JUNE 2023

Opinion

We have audited the financial statements of Moorlands College (the ‘charity’) for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the 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, including Financial Reporting Standard 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:

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 Auditor's 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 directors’ 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 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the directors’ report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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.

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 course of 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 our audit:

Opinions on other matters prescribed by the Office for Students’ (OfS) terms and conditions of funding for higher education institutions and the OfS’s accounts direction

In our opinion, in all material aspects:

14

MOORLANDS COLLEGE

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF MOORLANDS COLLEGE FOR THE YEAR ENDED 30 JUNE 2023 (continued)

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 directors’ or strategic reports included with 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:

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement, the trustees (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 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 directors 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 concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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:

Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment and financial reporting legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011. We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.

We determined that the principal risks were related to management bias in accounting estimates, presentation of separately disclosed items and management override of controls. In response to the risks identified we designed procedures which included, but were not limited to challenging significant accounting estimates, agreeing financial statement disclosures to underlying supporting documentation, evaluating the internal controls, and reviewing trustees minutes and identifying and testing journal entries.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

15

MOORLANDS COLLEGE

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF MOORLANDS COLLEGE FOR THE YEAR ENDED 30 JUNE 2023 (continued)

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 and regulations made under that Act. 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 its members as a body, for our audit work, for this report, or for the opinions we have formed.

Miriam Hickson FCA (Senior Statutory Auditor) for and on behalf of Jacob Cavenagh & Skeet Statutory Auditor, Chartered Accountants

5 Robin Hood Lane Sutton Surrey SM1 2SW

Dated: …………………..

16

MOORLANDS COLLEGE

STATEMENT OF FINANCIAL ACTIVITES (including Income and Expenditure Account) For the year ended 30 June 2023

INCOME
Note
Income from generated funds:
Donations and Legacies
2a
Other Trading Activities:
Lettings income
Other events & sales
Investment Income
Income from charitable activities
Educational and related income
2b
Other income
2c
Total Income
EXPENDITURE
Raising Funds
Charitable Activities
Total Expenditure
3
Net Income / (Expenditure) before Transfers
Transfers
8
NET MOVEMENT IN FUNDS
Balances at start of year (1 July)
Balances at end of year (30 June)		 Unrestricted
Designated
Restricted
Total
Unrestricted
Designated
Restricted
Total
general fund 2023
funds 2023
funds 2023
2023
general fund 2022
funds 2022
funds 2022
2022
£
£
£
£
£
£
£
£
131,340
-
38,923
170,263
96,469
-
10,633
107,102
2,327
-
-
2,327
6,530
-
-
6,530
3,238
-
-
3,238
4,141
-
-
4,141
5,936
-
-
5,936
2,137
-
-
2,137
1,584,062
-
241,177
1,825,239
1,551,032
-
288,962
1,839,994
-
-
-
-
13,355
-
-
13,355
1,726,903
-
280,100
2,007,003
1,673,664
-
299,595
1,973,259
26,511
-
-
26,511
8,199
-
20,953
29,152
1,666,385
86,521
241,723
1,994,629
1,746,658
109,680
266,218
2,122,556
1,692,896
86,521
241,723
2,021,140
1,754,857
109,680
287,171
2,151,708
34,007
( 86,521)
38,377
( 14,137)
( 81,193)
( 109,680)
12,424
( 178,449)
314,215
( 303,566)
( 10,649)
-
( 94,822)
57,503
37,319
-
348,222
( 390,087)
27,728
( 14,137)
( 176,015)
( 52,177)
49,743
( 178,449)
312,957
4,981,206
154,156
5,448,319
488,972
5,033,383
104,413
5,626,768
661,179
4,591,119
181,884
5,434,182
312,957
4,981,206
154,156
5,448,319

All of the College's activities are classed as continuing.

The College has no recognised gains or losses other than the result for the year. The notes numbered 1 to 13 form part of these financial statements.

17

MOORLANDS COLLEGE Registered Company number 4241702 BALANCE SHEET As at 30 June 2023

Note
FIXED ASSETS
Tangible assets
5
CURRENT ASSETS
Stocks
Debtors
6
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
7
NET CURRENT ASSETS
NET ASSETS
RESERVES
Unrestricted General Funds
8, 9
Designated Funds
8, 9
Restricted Funds
8, 9		 2023
£
£
4,591,119
24,370
64,913
901,060
990,343
(147,280)
843,063
5,434,182
661,179
4,591,119
181,884
5,434,182		 2023
£
£
4,591,119
24,370
64,913
901,060
990,343
(147,280)
843,063
5,434,182
661,179
4,591,119
181,884
5,434,182		 2022
£
22,588
94,105
875,622		 £
4,619,366
828,953
992,315
( 163,362)
5,434,182 5,448,319
661,179
4,591,119
181,884		 312,957
4,981,206
154,156
5,434,182 5,448,319

These financial statements were approved and authorised for issue by the Trustees on 13 November 2023 and are signed on their behalf by:

____ ____ Mr T Goulding Mr A du Feu

The notes numbered 1 to 13 form part of these financial statements.

18

MOORLANDS COLLEGE

CASH FLOW STATEMENT For the year ended 30 June 2023

OPERATING ACTIVITIES
Surplus (deficit) after depreciation and before tax
Adjustment to add back depreciation
Adjustment to add back loss (deduct surplus) on disposal
Adjustment to deduct interest
Net changes in working capital
Income tax paid
Net cash inflow (outflow) from operating activities
INVESTMENT ACTIVITIES
Purchase of fixed assets
Interest received
Net cash inflow (outflow) from investing activities
FINANCING ACTIVITIES
Net cash inflow (outflow) from financing activities
Overall net cash inflow (outflow)
Cash at start of year
Cash at end of year		 2023
2022
£
£
( 14,137)
( 178,449)
85,822
92,324
699
627
( 5,936)
( 2,137)
11,329
( 30,537)
-
-
77,777
( 118,172)
( 58,275)
( 71,146)
5,936
2,137
( 52,339)
( 69,009)
-
-
25,438
( 187,181)
875,622
1,062,803
901,060
875,622

The notes numbered 1 to 13 form part of these financial statements.

19

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

1 ACCOUNTING POLICIES

Basis of preparing the financial statements

Moorlands College is a charitable company registered in England & Wales. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)), Financial Reporting Standard 102 (FRS 102), the Charities Act 2011, and the requirements of the Office for Students.

The Trustees consider that there are no material uncertainties regarding the College’s ability to continue as a going concern. In reaching that conclusion the Trustees have considered the cash flows for one year from the date of approval of the financial statements. The Trustees have considered a range of scenarios that could occur over that period and believe that the strength of the College’s reserves, with various economies that have been put in place, will ensure its ability to continue as a going concern for a period in excess of 12 months from the reporting date. Beyond that timescale, the Trustees believe that the combination of a significant revision of the College’s BA programme, fresh marketing resourcing and initiatives, and a return of recruitment opportunities at conferences and events, will generate sufficient student applications and fee income to bring the College finances back into surplus.

The financial statements have been prepared under the historical cost convention and are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

Income, including grant, government grant and legacy income, is recognised on an accruals basis, when the College is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is more likely than not that the income will be received. Income is deferred if timerelated conditions or performance conditions require deferral of the amount. Job Retention Scheme government grant income is recognised in the period to which the underlying furloughed staff costs relate.

Expenditure

Expenditure is accounted for on an accruals basis, inclusive of irrecoverable VAT. Certain expenditure is directly attributable to specific activities and has been allocated to those cost categories and governance costs in accordance with the requirements of the Statement of Recommended Practice. Certain other costs and some staff costs are attributable to more than one activity. In these cases the costs have been apportioned to the individual activities on the basis of the time spent by staff on matters relating to those activities.

Governance costs comprise all costs relating to the public accountability of the College and its compliance with regulation and good practice. These costs include costs relating to the statutory audit.

Bursaries

Bursaries from restricted funds are included as expenditure in the period for which the award is given.

Tangible fixed assets

Assets are only capitalised, at cost, where they cost £1,000 or more. Assets costing less than £1,000 may be capitalised where these form part of a set or a wider equipment package.

Freehold land is not depreciated. Depreciation of buildings is based on useful economic life and residual value of each main building. Depreciation of other fixed assets is provided for at the following rates to write off the original cost of each asset over its estimated useful life. Depreciation on assets is charged from date of first use or, where more appropriate, from the date of purchase.

20

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

1 ACCOUNTING POLICIES ( continued )

Freehold buildings Between 20 and 100 years straight line Fixtures, fittings and equipment 20% per annum straight line, unless useful economic life is deemed to be longer or shorter than 5 years Motor vehicles 20% per annum straight line

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Creditors and provisions

Creditors and provisions are recognised where the College has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be reliably measured or estimated. Creditors and provisions are recognised at their settlement amount.

Stock

This is valued at the lower of cost and net realisable value, after allowing for slow moving or obsolete items.

Library

The cost of additions to the library is written off in the year in which the items are purchased.

Pensions

The College offers a defined pension contribution scheme to its employees and makes contributions to this pension scheme on behalf of its employees. The scheme is open to all qualifying employees and enrolment in the scheme is optional. The contributions payable for the scheme for the period are charged in the income and expenditure account. The charge for the year is shown in Note 4.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in the Statement of Financial Activities.

Tax status

The College is a registered charity and therefore it is not assessable to corporation tax on any surplus charitable funds.

Funds accounting

Funds held by the College are:

Unrestricted general funds are funds that can be used in accordance with the charitable objects at the discretion of the Trustees.

Designated funds are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

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

The nature and purpose of each fund is explained further in note 8 to the financial statements.

21

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

2a DONATIONS AND LEGACIES
Unrestricted
Restricted
2023
2022
£
£
£
£
General donations
131,340
-
131,340
96,469
Donations for new projects
-
30,146
30,146
716
Donations for student bursaries
-
8,777
8,777
9,917
131,340
38,923
170,263
107,102
2b GRANT AND FEE INCOME
2023
2022
£
£
Grant income from the Office for Students
46,777
54,823
Grant income from other bodies
49,766
36,849
Fee income for taught HE awards
1,150,190
1,211,462
Fee income for research awards
-
-
Fee income from non-qualifying courses
9,734
12,108
Total Grant and Fee Income
1,256,467
1,315,242
Other Educational and related income
568,772
524,752
Total Educational and related income
1,825,239
1,839,994
2c GRANT AND FEE INCOME
2023
2022
£
£
Job Retention Scheme government grant
-
13,355
3 ANALYSIS OF EXPENDITURE
Staff costs
Premises
Depreciation
Other costs
Total 2023
Total 2022
£
£
£
£
£
£
Costs of generating voluntary income
4,377
-
-
1,993
6,370
20,953
Costs of activities for generating income
20,052
-
-
89
20,141
8,199
Total cost of raising funds
24,429
-
-
2,082
26,511
29,152
Teaching and related costs
677,504
-
28,962
318,927
1,025,393
1,191,197
Other student costs
100,941
-
-
168,782
269,723
240,106
Support Costs
412,326
155,441
56,860
55,750
680,377
679,297
Governance costs
-
-
-
19,136
19,136
11,956
Total costs of charitable activities
1,190,771
155,441
85,822
562,595
1,994,629
2,122,556
Total Expenditure
1,215,200
155,441
85,822
564,677
2,021,140
2,151,708
Other costs:
2023
2022
£
£
Teaching costs
300,317
342,242
Library and study materials
27,678
27,489
Catering and student welfare
120,736
96,495
Advertising and promotion of the College
20,453
36,115
Office costs
17,464
20,090
Fees payable for the audit
11,073
10,613
Consultants and legal fees
22,632
29,415
Travel and subsistence
24,310
24,628
Bad debts & provision for doubtful debts
9,810
13,853
Sundry expenses
10,204
2,768
564,677
603,708		 2a DONATIONS AND LEGACIES
Unrestricted
Restricted
2023
2022
£
£
£
£
General donations
131,340
-
131,340
96,469
Donations for new projects
-
30,146
30,146
716
Donations for student bursaries
-
8,777
8,777
9,917
131,340
38,923
170,263
107,102
2b GRANT AND FEE INCOME
2023
2022
£
£
Grant income from the Office for Students
46,777
54,823
Grant income from other bodies
49,766
36,849
Fee income for taught HE awards
1,150,190
1,211,462
Fee income for research awards
-
-
Fee income from non-qualifying courses
9,734
12,108
Total Grant and Fee Income
1,256,467
1,315,242
Other Educational and related income
568,772
524,752
Total Educational and related income
1,825,239
1,839,994
2c GRANT AND FEE INCOME
2023
2022
£
£
Job Retention Scheme government grant
-
13,355
3 ANALYSIS OF EXPENDITURE
Staff costs
Premises
Depreciation
Other costs
Total 2023
Total 2022
£
£
£
£
£
£
Costs of generating voluntary income
4,377
-
-
1,993
6,370
20,953
Costs of activities for generating income
20,052
-
-
89
20,141
8,199
Total cost of raising funds
24,429
-
-
2,082
26,511
29,152
Teaching and related costs
677,504
-
28,962
318,927
1,025,393
1,191,197
Other student costs
100,941
-
-
168,782
269,723
240,106
Support Costs
412,326
155,441
56,860
55,750
680,377
679,297
Governance costs
-
-
-
19,136
19,136
11,956
Total costs of charitable activities
1,190,771
155,441
85,822
562,595
1,994,629
2,122,556
Total Expenditure
1,215,200
155,441
85,822
564,677
2,021,140
2,151,708
Other costs:
2023
2022
£
£
Teaching costs
300,317
342,242
Library and study materials
27,678
27,489
Catering and student welfare
120,736
96,495
Advertising and promotion of the College
20,453
36,115
Office costs
17,464
20,090
Fees payable for the audit
11,073
10,613
Consultants and legal fees
22,632
29,415
Travel and subsistence
24,310
24,628
Bad debts & provision for doubtful debts
9,810
13,853
Sundry expenses
10,204
2,768
564,677
603,708		 2a DONATIONS AND LEGACIES
Unrestricted
Restricted
2023
2022
£
£
£
£
General donations
131,340
-
131,340
96,469
Donations for new projects
-
30,146
30,146
716
Donations for student bursaries
-
8,777
8,777
9,917
131,340
38,923
170,263
107,102
2b GRANT AND FEE INCOME
2023
2022
£
£
Grant income from the Office for Students
46,777
54,823
Grant income from other bodies
49,766
36,849
Fee income for taught HE awards
1,150,190
1,211,462
Fee income for research awards
-
-
Fee income from non-qualifying courses
9,734
12,108
Total Grant and Fee Income
1,256,467
1,315,242
Other Educational and related income
568,772
524,752
Total Educational and related income
1,825,239
1,839,994
2c GRANT AND FEE INCOME
2023
2022
£
£
Job Retention Scheme government grant
-
13,355
3 ANALYSIS OF EXPENDITURE
Staff costs
Premises
Depreciation
Other costs
Total 2023
Total 2022
£
£
£
£
£
£
Costs of generating voluntary income
4,377
-
-
1,993
6,370
20,953
Costs of activities for generating income
20,052
-
-
89
20,141
8,199
Total cost of raising funds
24,429
-
-
2,082
26,511
29,152
Teaching and related costs
677,504
-
28,962
318,927
1,025,393
1,191,197
Other student costs
100,941
-
-
168,782
269,723
240,106
Support Costs
412,326
155,441
56,860
55,750
680,377
679,297
Governance costs
-
-
-
19,136
19,136
11,956
Total costs of charitable activities
1,190,771
155,441
85,822
562,595
1,994,629
2,122,556
Total Expenditure
1,215,200
155,441
85,822
564,677
2,021,140
2,151,708
Other costs:
2023
2022
£
£
Teaching costs
300,317
342,242
Library and study materials
27,678
27,489
Catering and student welfare
120,736
96,495
Advertising and promotion of the College
20,453
36,115
Office costs
17,464
20,090
Fees payable for the audit
11,073
10,613
Consultants and legal fees
22,632
29,415
Travel and subsistence
24,310
24,628
Bad debts & provision for doubtful debts
9,810
13,853
Sundry expenses
10,204
2,768
564,677
603,708
24,429
-
-
2,082		 26,511
29,152
677,504
-
28,962
318,927
100,941
-
-
168,782
412,326
155,441
56,860
55,750
-
-
-
19,136		 1,025,393
1,191,197
269,723
240,106
680,377
679,297
19,136
11,956
1,190,771
155,441
85,822
562,595		 1,994,629
2,122,556
1,215,200
155,441
85,822
564,677		 2,021,140
2,151,708
2023
2022
£
£
300,317
342,242
27,678
27,489
120,736
96,495
20,453
36,115
17,464
20,090
11,073
10,613
22,632
29,415
24,310
24,628
9,810
13,853
10,204
2,768
564,677
603,708

22

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

4 STAFF COSTS

STAFF COSTS
Wages and salaries
Social Security costs
Other pension costs
Remuneration of Principal (1 Jul 2021 to 11 Feb 2022)
Salary
Pension contributions
Termination payments
Remuneration of Acting Principal (12 Feb 2022 to 30 Jun 2023)
Salary
Pension contributions
Median pay ratios
All staff basic salary (wrt Prin)
All staff total pay (wrt Prin)
All staff basic salary (wrt Act Prin)
All staff total pay (wrt Act Prin)		 2023
2022
£
£
1,027,560
1,107,121
69,096
66,412
87,964
102,725
1,184,620
1,276,258
2023
2022
-
31,361
-
3,136
-
25,000
48,169
16,286
4,816
1,629
52,985
77,412
na
1.38
na
1.52
1.32
1.17
1.45
1.28

At 30 June 2023 there were no accrued amounts in respect of pension costs (2022: £Nil). No staff received remuneration in excess of £60,000 per annum (2022: £Nil).

Included in the above are redundancy payments of £nil (2022: £4,801) made in relation to staff posts, and termination payments of £nil made during the year (2022: £25,000). All such payments are recognised when legal agreement is reached.

No remuneration was paid to Trustees for their role as Trustees. Travel expenses of £109 were reimbursed to Trustees during the year (2022: £876) for meeting attendance. £408 was paid on behalf of Trustees to third parties for training or accommodation (2022: £467). Payments of £nil were made to Trustees for lectures (2022: £494 to three Trustees). Remuneration of close family members of Trustees totalled £nil (2022: £403) for teaching and staff accommodation.

During the year the College had transactions with South West Youth Ministries, and with Bransgore Community Church, charities with which it shares a Trustee. The College received income of £12,092 and £nil respectively (2022: £13,045 and £15), and incurred expenses of £56,912 and £nil respectively (2022: £53,694 and £141). There were no balances outstanding at year-end (2022: £nil). These transactions were carried out at an 'arm's length' basis. The Trustees received no benefit for the transactions.

Remuneration (inc employer NI & pension) of key management totalled £333,345 for 8 posts (2022: £444,440 for 9 posts). Remuneration (inc employer NI & pension) of close family members of key management totalled £63,576 (2022: £40,833). During the year, payments totalling:

The average weekly number of employees was:

Academic
Full time
Part time
Support
Full time
Part time
Total
Full time
Part time
Overall Total		 2023
2022
Actual
FT equivalent
Actual
FT equivalent
9
8.5
10
9.6
30
6.4
32
8.1
10
7.6
7
6.3
20
8
20
9.8
19
16.1
17
15.9
50
14.4
52
17.9
69
30.5
69
33.8

The above employee numbers exclude Students and Guest Lecturers who have been employed on a temporary basis during the year, however the related payroll costs are included in the above staff costs.

23

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

5 TANGIBLE FIXED ASSETS
COST:
at 30 June 2022
Additions
Disposals
at 30 June 2023
DEPRECIATION:
at 30 June 2022
Charge for the year
Eliminated on disposals
at 30 June 2023
NET BOOK VALUE:
at 30 June 2023
at 30 June 2022		 Freehold
Equipment
Total
Land £
Buildings £
£
£
282,299
5,362,797
614,372
6,259,468
-
10,405
47,870
58,275
-
-
(15,198)
(15,198)
282,299
5,373,202
647,044
6,302,545
-
1,096,429
543,673
1,640,102
-
54,985
30,837
85,822
-
-
(14,499)
(14,499)
-
1,151,414
560,011
1,711,425
282,299
4,221,788
87,032
4,591,119
282,299
4,266,368
70,699
4,619,366

All of the assets are used for charitable purposes.

6 DEBTORS

DEBTORS
Fees outstanding
Prepayments
Other debtors		 2023
2022
£
£
22,211
64,304
32,010
26,534
10,692
3,267
64,913
94,105
**7 ** CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
£
£
Fees in advance
15,320
14,290
Trade Creditors
44,327
50,407
Deferred income (Grants)
-
-
Taxes and social security
31,336
35,003
Accruals
26,243
28,743
Holiday pay accrual
30,054
34,919
147,280
163,362
Movement on Deferred Income (Fees in advance)
:
2023
2022
£
£
Deferred income brought forward
14,290
19,979
Income released in the year
( 11,257)
( 15,484)
Income deferred in the year
12,287
9,795
Deferred income carried forward
15,320
14,290
Movement on Deferred Income (Grants)
:
2023
2022
£
£
Deferred income brought forward
-
75,000
Income released in the year
-
( 75,000)
Income deferred in the year
-
-
Deferred income carried forward
-
-		 2023
2022
£
£
15,320
14,290
44,327
50,407
-
-
31,336
35,003
26,243
28,743
30,054
34,919
147,280
163,362

24

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

8 RECONCILIATION ON MOVEMENTS OF FUNDS
For the year ended 30 June 2023
Unrestricted Funds
General fund
Designated funds
Contingency Fund
Cyclical Refurbishment & Maintenance
Building Fixed Assets
Equipment Fixed Assets
Total unrestricted funds
Restricted funds
New Projects Fund
Student Bursary Fund
Student Hardship Fund
Brenda Brady Bursary Fund
Misc. Other Restricted Funds
Total restricted funds
Total funds
For the year ended 30 June 2022
Unrestricted Funds
General fund
Designated funds
Contingency Fund
Cyclical Refurbishment & Maintenance
Building Fixed Assets
Equipment Fixed Assets
Total unrestricted funds
Restricted funds
New Projects Fund
Student Bursary Fund
Student Hardship Fund
Brenda Brady Bursary Fund
Misc. Other Restricted Funds
Total restricted funds
Total funds		 At 1 July
Income
Expenditure
Transfers
At 30 June
2022
2023
£
£
£
£
£
312,957
1,726,903
(1,692,896)
314,215
661,179
186,300
-
-
( 186,300)
-
175,541
-
-
( 175,541)
-
4,548,667
-
( 54,985)
10,405
4,504,087
70,698
-
(31,536)
47,870
87,032
4,981,206
-
(86,521)
(303,566)
4,591,119
5,294,163
1,726,903
(1,779,417)
10,649
5,252,298
75,825
174,540
( 144,500)
-
105,865
50,543
5,618
( 12,600)
-
43,561
1,684
2,818
( 4,502)
-
-
3,886
2,359
( 6,245)
-
-
22,218
94,765
( 73,876)
( 10,649)
32,458
154,156
280,100
(241,723)
(10,649)
181,884
5,448,319
2,007,003
(2,021,140)
-
5,434,182
At 1 July
Income
Expenditure
Transfers
At 30 June
2021
2022
£
£
£
£
£
488,972
1,673,664
( 1,754,857)
( 94,822)
312,957
186,300
-
-
-
186,300
205,913
-
( 17,284)
( 13,088)
175,541
4,543,356
-
( 53,608)
58,919
4,548,667
97,814
-
( 38,788)
11,672
70,698
5,033,383
-
( 109,680)
57,503
4,981,206
5,522,355
1,673,664
( 1,864,537)
( 37,319)
5,294,163
5,801
175,716
( 156,265)
50,573
75,825
57,808
5,695
( 12,960)
-
50,543
4,381
4,829
( 7,526)
-
1,684
13,779
2,422
( 12,315)
-
3,886
22,644
110,933
( 98,105)
( 13,254)
22,218
104,413
299,595
( 287,171)
37,319
154,156
5,626,768
1,973,259
( 2,151,708)
-
5,448,319

25

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

8 RECONCILIATION ON MOVEMENTS OF FUNDS (continued)

The funds shown on the previous page have the following purposes:

Unrestricted Funds:

General Fund - available for the general operation of the College’s main activities

Designated funds:

Contingency Fund – prev to support the General Fund in the event that income declines; now consolidated in General Fund. Cyclical Refurbishment & Maintenance Fund – prev to fund ongoing building maintenance; now consolidated in General Fund. Building Fixed Assets – holds fixed assets arising from capitalisation of land and building assets.

Equipment Fixed Assets – holds fixed assets arising from capitalisation of plant, equipment and vehicles.

Restricted Funds :

New Projects Fund – held for new specific building or equipping projects. Student Bursary Fund – held for bursary funding of student tuition fees.

Student Hardship Fund – held to provide financial hardship support for students.

Brenda Brady Bursary Fund – held for funding needs of student body or individuals.

Miscellaneous Other Restricted Funds – held for various specific purposes as received.

The fund transfers indicated on the previous page are explained as follows:

Between General Fund and Designated Funds:

Transfer of balance of funds from Contingency Fund to General Fund: £186,300 (2021/22: £nil).

Transfer of balance of funds from Cyclical Refurbishment & Maintenance to General Fund: £175,541 (2021/22: transfer from GF to CR&M £40,000).

Capitalisation of fixed assets purchased in the year, and transferred to the designated fund for Building Fixed Assets: £10,405 (2021/22: £nil) and Equipment Fixed Assets: £37,221 (2021/22: £4,249).

From General Fund to Restricted Funds:

Transfer to New Projects Fund to cover those staffing and operational costs which are not covered by restricted income and were being charged instead to the General Fund: £nil (2021/22: £50,573).

Between Designated Funds:

Capitalisation of fixed assets purchased under Cyclical Refurbishment & Maintenance and transferred to the designated fund for Building Fixed Assets: £nil (2021/22: £53,088).

From Restricted Funds to others:

Capitalisation of fixed assets, purchased from Misc Other Restricted Funds, and transferred to the

designated funds for Equipment Fixed Assets: £10,649 (2021/22: £7,423) and Buildings Fixed Assets: £nil (2021/22: £5,831).

26

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

9 ANALYSIS OF NET ASSETS BETWEEN FUNDS

2023 Unrestricted Funds
General Designated Restricted Total
Fund Funds Funds Funds
£ £ £ £
Fixed assets - 4,591,119 - 4,591,119
Cash at bank and in hand 719,176 - 181,884 901,060
Stock 24,370 - - 24,370
Debtors 64,913 - - 64,913
Creditors (147,280) - - (147,280)
661,179 4,591,119 181,884 5,434,182
2022 Unrestricted Funds
General Designated Restricted Total
Fund Funds Funds Funds
£ £ £ £
Fixed assets - 4,619,366 - 4,619,366
Cash at bank and in hand 362,920 361,840 150,862 875,622
Stock 22,588 - - 22,588
Debtors 90,811 - 3,294 94,105
Creditors ( 163,362) - - ( 163,362)
312,957 4,981,206 154,156 5,448,319

10 LEASES

Operating lease charges for the year were £1,606 (2022: £1,606). At 30 June 2023, the College had total future minimum payments under non-cancellable operating leases as:

within 1 year
within 2 to 5 years
after 5 years
had total future minimum payments under n		 Land &
buildings
Other
£
£
-
-
-
-
-
-
-
-
on-cancellable operating leases as:		 Land &
buildings
Other
£
£
-
1,606
-
-
-
-
As at 30 June 2022
-
1,606

11 CAPITAL COMMITMENTS

There were no capital commitments at 30 June 2023 (2022: £nil).

12 CONTINGENT LIABILITIES

There were no contingent liabilities at 30 June 2023 (2022: £nil).

27

MOORLANDS COLLEGE

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023

13 ACCESS AND PARTICIPATION COSTS

Access investment
Financial support
Support for disabled students
(excluding costs in above categories)
Research and evaluation		 2023
2023
2023
Staffing £
Other £
Total £
4,955
701
5,656
1,800
6,872
8,672
3,985
-
3,985
12,901
3,750
16,651
23,641
11,323
34,964		 2022
2022
2022
Staffing £
Other £
Total £
8,406
-
8,406
1,800
10,226
12,026
2,295
-
2,295
12,901
1,250
14,151
25,402
11,476
36,878

The above staffing costs are intrinsic to the delivery of the access and participation activites. Those staffing costs are included in the overall staffing costs shown in Notes 3 and 4.

28