Company Registration Number 4241702 Charity Number 1092000 MOORLANDS COLLEGE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
MOORLANDS COLLEGE INDEX TO THE ANNUAL REPORT AND FINANCIAL sfATEMENTS For the year ended 30 June 2024 PAGE Administrattve Information Annual Report of the Trustees 2-13 Independent Auditors, Report to the Trustees for the year ended 30 June 2024 14-16 Statement of Financial Activities {incorporating Income and Expenditure Account) 17 Balan Sheet 18 Cash Flow Statement 19 Notes to the Financial Statements 20-28
MOORLANDS COLLEGE ADMINISTRATIVE INFORMATION For the year ended 30 June 2024 Charity Name., Moorlands College Registered Office and operational address: Moorlands College Sopley Christchurch Dorset BH23 7AT Registered Charity Number: IIY32000 Company Number: 4241702 The Trustees: David Adabale (appointed 28 March 2024) Jason Coltman ITreasurer) Tim Goulding (Chair) Matthewjames {appointed 13 November 2023) Graham Jeffries Matthew Moore Kate Pinnell Stuart Riddington (appointed 11 September 2024) Hartness Samushonga Peter Watts (appointed 13 November 2023) Company Secretary: Matt Mellor Clerk to the Board of Trustees: Julla Thomas Executive Leadership Team-. Principal and CEO.. Andy du Feu (appointed August 2023) Director of Academic Quality: lan Kirby Director of Learning and Student Experience: Abi Maguire Director of Finance.. David McLellan {until December 20231 Director of Finance and Operations.. Matt Mellor Auditors: Jacob Cavenagh and Skeet S Robin Hood Lane Sutton Surrey SMI 25W Bankers: Bank of Scotland plc 3 Town Quay Southampton Hampshire S014 ZAQ
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRusfEES For the year ended 30 June 2024 The Trustees are pleased to present the annual and strategtc report (which includes the Dirertors, Report requlred by company law) and financial statements for the year ended 30 June 2024. Cor rate Governance The following have been in placefortheyear ended 30June 2024 and up to the date of approval of the financial statements. Governing document and approach The College is a charttable 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 Artides of Association now comprise the primary governing document. The Article5 of Association were revised duriryd 2019, in step with a Governance Policy adopted In January 2019, and were approved bythe Charitycommission in June 2019. The College's approach to governance applies the Public Interest Govemance Principles of the Office for Students. It also follows the good prattice for the Higher Education sector identified in Yhe Higher Education Code of Governan. 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 Educatbon Code of Governance builds. Organisational strurture The Company Dirertors are the Trustees of the Charity. By virtue of office, as Direttors 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 Companv and the Board of Trustees of the Charity. VKithin this documentthe Directors are generally referred to as Trustees, and the Board of tlrectors as the Board of Trustees. This l)ody 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 b(xly of M(x)rlands College in the terms of the Office for Students. The Trustees who have served during the year are set out on page l. In accordance with the Articles of Association, revised in June 2019, each Trustee is appointed for a term of three year5 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 afterthree consecutive terms. No remuneration is paid to Trustees in the role of Trustee. expenses can be reimbursed for travel to Board meeting5. 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 funrtioning as a clerk to the Board. The Executive leadership Team (ELn is the key management group. led by the Princlpal, for day-to-day operation of the College. ELT members attended Board meeting5 during the year for most items. Trustees are involved In the processes to appoint and remunerate ELT members. The Trustees review the leve15 of staff salaries annually and take note of the CPI, cost of living and the financial situation of the College, th 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. Andy du Feu, was appointed as the Accountable Officer from I September 2022, and from Acting Prfncipal to Principal and CEO from l August 2023.
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30June 2024 Representatlon at Board meetlngs 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 representative5 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 particlpatlon and are not in any way disadvantaged in comparison to student representatives in the governan arrangements of other Higher Education institutions where the goveming 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 orstaff members. Recrultment and appolntsnent of new Trustees The range of experience and professional expertise of Trustees is kept under review and, when seeking to appolnt new Trustees, full consideration is given to any perceived gaps. NewTrustees are normally identifled through personal contact of existlng Trustees and senior leader5, With the process then managed by the Nominations Committee. The Trustees have power to appoint additional Tru5tees' there is no maximum, but the number of Trustees should never be lessthan five. ProspettlveTrustees 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 recruit a new Trustee specifically to act as Chair of the Trustees. Trustee indurtion and training New Trustees are inducted in accordance wlth 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 inforrned asto extemal trustee training courses that are available. Risk managernent The Trustee5, 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 (rfincome through low student numbers, mitigated by continuous marketing and maintaining the quality of oureducational provision. and the Impact of government and regulatory requirements, mitigated by carefully meeting current Submission deadlines and developing positive relationships to monitor future change. Advisor5 Details of the COllegS auditors and bankers are disc105ed on page l. Duringthe year the College has also used the consultancy services of KeeFys and MSP Buslness Services to provide advice and support in employment law and HR, health and safety. and food safety management within the College. During the year we used a consultant to assist with the creation of the new 5 year strategic plan.
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES Icontinued) For the year ended 30 June 2024 Prlmary responslbllltles of the Board of Trustees: to set and agree the mission, strategic vision and values of the College with senior management and in line with the College's registration as a charity; to agree long-term academic and business plans and key performance indicators and ensure that these meet the interests of stakeholders, especially staff, students and graduates; to ensure that processes are in place to monitor and evaluate the performance and effectiveness of the College against the strategy, plans and approved key performance indicators. which should be, vthere possible and appropriate, benchmarked against those of other comparable institutions.. to delegate authority to the Principal, as Ch executive, for the academic. corporate, financial, estate and human resource management of the College, and to establish and keep under regular review the policies, procedures and limits within such management funttions 35 shall be undertaken by and under the authority of the Principal; to oversee the assessment and management of risk, monitoring and reviewing a register of risks, and determining appropriate actions in response to risks; to ensure the establishment and monltoring of systems of control and accountabllity, including finarbcial ané operational controls, value for money assessments, and procedures for handling internal grievances and for managing conflicts of interest," to establish proSe5 to monitor and evaluate the performance and effectiveness of the Board of Trustees itself; to conduct its business in accordance with best practice in HE corporate governance and with the principle5 of public life drawn up by the Committee on Standards in Public Life. to safeguard the good name and values of the College., to appoint the Principal as chief executive, and to put in place suitable arrangements for monitoring their performance. to appoint a Clerk to the Board of Trustees and to ensure that, if the person appointed has managerial responsibilitie5 in the institution, the is an appropriate Separation in the lines of accountabilityi to be the employing authority for all staff in the College and to be accountable for ensuring that an appropriate human resources strategy is established- to be the principal financial and business authority of the College, to ensure that proper books of account are kept, to approve the annual budget and financial statements, and to have overall responsibility for the institution's assets, property and estate. to be the College's legal authority and, as such, to ensure that systems are in place for meeting all the College's legal obligations, including those arising from contracts and other legal commitments made in the College's name Ithis includes accountability for health, safety and security and for Equality, Diversity and Inclusion); to receive assurance that adequate provision has been made for the general welfare of students. to act as trustee for any property, legacy, endowment, bequest or gtft in support of the work and welfare of the College; to ensure that the College's governing documents are followed at all times and that appropriate advice is available to enable this to happen; to promote a culture which supports Equality, Diversity and Inclusion across the College; to maintain and protect the principles of academic freedom and freedom of speech regulation,. to ensure that all students and staff have opportunities to engage with the governance and management of the College. Commlttees The Trustees appoint Committees, comprising representatives of the Board, 5UPPOrted by staff, includlng 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 2024. these Committees comprise.. Audit and Risk,. M Moore (Chair), H Samushonga, M James, P Watts; with A du Feu. l Kirby, M Mellor
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2024 Finance and Resources:J Coltman (Chair), T Gouldin& GJeffries,- with A du Feu, M Mellor Nominations- T Goulding (Chair). K Pinnell; with A du Feu Remuneration: J Coltman (Chair), T Gouldin& K Pinnell; with A du Feu, M Mellor. From time to time. the Trustees set up specific working groups, durlng 23124 the Degree Awarding Powers IDAPs} Working Group resumed meetings. Links with Other Educational Institutior Link5 With the University ofGloucestershire have continued, both to maintain the validation requirement and tofacilitate improvement of academic Standards at the College. Effectiveness of the partnership between the University and the College is monitored by annual reviews as well as a major review every five years, the most recent bwng April 2020 when a new five-year collaborative agreement was signed lastlng untll August 2025. The College works in partnership with SoLrth West Youth Ministries ISWYMI to administer the delivery of our 8A degree course via our regional centre of Moorlands South West We had a similar administrative partnership with Youth Link: Nl to supportthe delivery of our BA degree course at our regional centre in Northern Ireland. Following a decision 2 years ago to suspend recruitment to that course, the Nl regional ntre moved to a teach-out phase, with 2023124 as its final year. The College is a member of GuildHE, arid we also maintain contact with like-minded theological colleges through informal networks of Prlncipals, Bursars and Facilitie5 Staff. Accreditations Since Ottober 2018, the College has been registered with the Office for Students {OfS) as a Higher Education Provider (Approved Fee Cap ststU51. By this, our BA and MA courses are designated, for support through Student Finance. This loan support can be accessed by eligible students froTll 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 Htgher Education Statistics Agency. Our BA (Hons) Applied Theology Iyouth and Community Work) degree is professionally validated by the National Youth Agency INYAI as meeting the Joint Negotiating Committee professional standard5 for vouth workers. This professional validation was renewed in September 2019 for a further five years, through until 2024. Professional revalidation Is scheduled for 2024125. The delivery of the BA (Honsl Applied Theology (Youth and Community Work) degree in Northern Ireland has been endorsed by the North/South Education Training and Standards (NSEfsi as the equNalent body as the NYA on the Isle of Ireland. Ofs is the Designated Quality Body to provide assurance that we are meeting UK expertations for the academlc standards of awards offered, and the quality, infomiation and enhancement of student learning OPPDrtunities provided. through our undergraduate and postgraduate degree courses. The Ofs approach is data driven and risk-based rather than periodic. The Ofs is satlsfied that the College does not present such risks that would require more detailed review. The College is recognised by the Ministry of Defence (MOD) as an approved learning provider for retraining service personnel. We work within the Home Office Prevent Duty framework to recogni5e and reduce the risks of radicalisation.
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES {continued) For the year ended 30 June 2024 Ob'ectives and actlvities Charltable Objects The object of the College is to maintain, advance, and promote the Christian religion and. in particular, to condutt 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 Falth. Mission Moorlands College exists to equip people, passlonate oboutjesus Christ, to impoct the church and the world. Achlevernents rformance and bli¢ benefrt 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 se]Ce as part of thelr 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 across diverse dernographics of society in the UK and around the world. The College aims to keep in touch with societsl needs through the operation of profes5ion31 advisory groups, placement activities, contact with graduates, other contarts working at the cutting edge of disciplines, 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 2024, the College received an overall average satisfattion across all core questions of 77%. Whilst this is lower than previous years. -Qualtty of Teaching" scored 90% against a sector average of 85%, and student opinion on "Assessment and feedbacV scored 82% against a sertor average of 78% In the gradu3tion ceremony held in November 2023 a total of 14 undergraduate degrees were awarded with First Class Honours, 31% of the 45 degrees awarded. 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 guidan on publlc benefft when reviewlng our alms and objectives and in planning our future activities. In particular, the Trustees consider how planned activitie5 will contribute to the aims and objectives they have set. Student ben d rl fundin sour¢es and fees Our undergraduate and p05tgraduate 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 Scrlpture come from a range of countrles. pMarIlY in Europe. The College has success in enabling access of under-represented groups, especially: mature students students with disabilities Our provision focusses on professional preparation for peopleknhelping and leadership roles, so is often more attractive to older students. This Is not uncommon in theological colleges; however, we are comparatively more succe55fiJl at enabling acce55 to HE by those without previou5 HE experience.
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2024 31% ofour students have provided evidence of a disability and this is significantly above the average of 19% for the general UK home student population. We believe that our undergraduate programmes, vocational. professional focus and our reputation for Learning Assistance provision comblne to encourage students, who might not otherwise enter HE, to choose Moorlands. The use of flexible learning approaches is increasing our reach towards more urban locations and areas of greater social deprivation and ethnic diversity. A high percentage of the UK undergraduate and postgraduate students can obtain funding 5UPPOrt through government-funded student loan finanan& 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 basls by a Financial Support Panel. In the past year, the College made scholarship, bursary, hardship and other awards, totalling £20,072 to 26 different students122/23: £23,307 to 36). 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 testin& where needed by those with learning difficulties. Our tuition fees and accommodation and catering charge5 have been maintained broadly in line with the norm within the non-government-funded theological college settor, Fees are Set on an annual ba5iS, undergraduate fees are approved by the Ofs. with the objective of achieving 3 breakeven operating budget position, after allowingfor inflation and the anticipated level of other income and gifts. The College has agreed an AC$$ and Participation Plan for the five years from 20/21 to 24/25 with the Ofs. Thls 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 earfs artivitles 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. I Continuing course delivery The uncertainty caused bythe global pandemic had a significant impact on our recruitment, and the low intakes in 21/22 and 22123 have continued to have an impatt on overall student numbers. Student enrolment5 at September 2023 were down on pre-pandemic levels. Recruitment to our BA programme was 39, slightly up on 22/23 {27) but down from 57 in 20121- the intake to our range of MA programmes wa5 22, lower than 22123 (over40). Throughout the year, our continued Investment in the employment of a college ambassador, whose role focuses on student recruitment, has been key in our efforts to recover our intake for thls year and beyond, enhancing our presence at Christian exhibitions and conferences a5 well as on social medla. 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 174 (2V23: 191>. In a graduation event in November 2023, we celebrated the award of 18 MA degrees, eight Postgraduate Diploma5, 13 Postgraduate Certificate5, and 45 BA degrees. In continuing the provlsion 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.
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2024 NCFE accredits some of our level 3 {pre-degreel courses as customised qualification5.' Engaging with Applied Theology and Award in Christian Leadership. Delivery of these courses are franchised to South West Youth Ministrie5118 students) and One Churth, Emsworth (seven students), Soul Church, Norwich {13 students), the latter being a new partnershlp in 23124. 2 Improvement of course management and quality Following the review of our undergraduate programmes in 22123 we launched ourflrst cohort of students studying on the flexible mode of delivery. 12 students started on the flexible mode in September 2023, and recruitment for September 2024 is experted to be 14. Our Flexible BA is a hybrid-delivery mode, includes three two-day. face-to-face study blocks in each year of study and a carefully Structured sequence of online live lectures and interactions with teachers and other students. as well as independent work. The Flexible mode of delivery 15 replacing the previous placement-based approach. It has been approved by the University of Gloucestershire and by the National Youth Agency (NYA). Work has continued to strengthen the College's systems for the upholdlng of standards and assurance of quality. In March 2024 we submitted our application for authorisation to operate degree awarding powers (DAPSI; we are expectant that a team from the Office for Students (Ofs) will start the review process during 24125. The University of Gloucestershire have been supportive of the College in this endeavour. DAPS will provide the College with a greater level of independence, and the ability to support the theological training sector through validating and franchising arrangements. During the year we have also researched and explored p0$5ibilities for the provision of training in relevant areas of continuing professional development. In addition, we obtained a sponsor licence from the Home Office to allow international students to obtain student Vis35 in order to come to the UK and study with us. We encourage ongoing professional development of our staff as an important contributor in rnaintaining and improving quality. Several of our staff and students have also 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. (22/23". six} 3 Fundraising In Ilne 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 attlvities 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. Undesignated gifts are by default allocated to our general fund, but several small regular gifts are designated by donor5 for one of our student support funds, restricted funds that are used to support and enhance the student experience atthe College. We continued to benefit from the generous financial 5UPPOrt and partnership of5everal larger trusts. with a range of gifts that support teaching and resources in Apologetics and Evangelism (such as an amount of £6.200 in October 2023 from a trust to enable a vldeo resource for youth groups). provide partial support for senior teaching posts, or assist the College with development of flexible learning, as we alrn to maximi5e opportunities to widen and strengthen our course provision, and fulfil our mission and vision. The College received a final £50,LJJO instalment of a glft of £150,000 spread over three years, enabling significant investment in developing various media Series and infrastructure, including partially funding the role of the Director of Research and Professional Development.
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES {continued) For the year ended 30 June 2024 4 Campus Facilities On the Christchurch campus, we converted a bedroom to a new accessible ensuite bedroom including the refurbishment of an adjacent shower room. we also installed three automatic door operators, increaslng the accessibility of our buildings. Windows in a corridorof bedrooms were upgraded to double glazing. increasing the eneoy performance of the building, and new LED Ilghts were installed In the Hub (Dining Room) to reduce energy costs. Other asset purchases Included replacement IT equiprnent and catering equipment. In July 2024 a gift of up to £60,(ywaS pledged by AFD towar(ts the install costs of solar panels, whlch will be used as part of a match funding campaign during 24/25. Flnanclal Review Income The total income for the year amounted to £1,677,724 {22123: £2,007,003). Our primary Source of income is unrestritted income of studentfees plus charges for provision of ourtraining and development courses. The totsl Income in 23124 arising frorn our charitsble activities totalled £1,585,311 (22/23: £1,825,239). Fundraising activityi With amounts from the letting of our bulldings to groups for holidaylnon-educational purposes, generated income of £80,783 (22123: £175,828). Included in this were donations of £25,505 122123., £8.7771 for bursary funds and £1,942 (22123." £30,146) for new projects. Bank interest income from College funds totalled £11,630 {22/23: £5,936). Expen&rture Expenditure in the yeartotalled £1,932,708 {22123- £2,021,140). Ofthis, £20,110122123: £26,511) was spent on fundraising and other Income-generatlng artlvity. Expenditure on maln charitable activities was £1,912,598122/23: £1,994,629), which included depreciation charges of £89,938 (22/23: £85,822}, and student support grants of £20,072122/23: £23.307}. C3Pital expenditure spent on buildings, plant and equipment, totalled £70,245 {22/23: £58,275) of which £52,309 {22123.' £10,405) related to buildings investment. Flnancial Health The balance sheet shows thatthe 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 bulldings is shown in note S as £4,498,378122/23- £4,504,087). At l August 2024, the buildings were insured for£14,678,977 (22123: £I4,250,o) in line with the Insuran compan¢s valuation of rebuilding costs. Under Financial Reporting Standard 102, uncondttional multi-year donations are recognised as and when committed, not when artually received. At 30 June 2024, £nll122123 £nill 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 finanaal health ofthe College is satisfactory at the end of the year, with essential free reserves of £512,973 (22/23: £661,179), which equates to just over 3.2 months, normal operating expenditure, plus additional designated and restricted funding available to fund continuing with ongoing projects. 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 arefor operational and short-term purposes, ratherthan investment purposes, and
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2024 are held in a range of bank deposits. Therefore. bank interest is the only investment income earned by the College duringthe year. Reserves Polity The College regularly reviews its reserves policy, covering both the purpose and levels of resenies held bv the College, ensuring they remain appropriate to current levels of artivity and proposed strategic developments. Note 9 to the financial statements showsthe assets and Ilabiltties attributable to the various funds by type. Note 8 describes the various funds of the College, summari5es the yearfs movements on each fund, and shows the amounts held in each fund at the end of the year. 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 3.2 months, activity at £160,600 per month. Other restricted or designated funds are held to finan 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 immedlate future. Remuneration of the Prlncipal The remuneratlon package for the Principal, 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 organis3tions in the HE sector and from charities, and must considerthe public interest and the safeguarding of public funds alongside the interests of the College. The performance of the Principal is appraised each year by the Chair of Trustees but there are no perfomiance-related components in the remuneration package. Plans for Future Periods A new strategic plan has been launched. covering the period from September 2023 to August 2028, comprising four primary goals, and incorporatlng several distinttlve features and staff behaviours. The primary goals, with their secondary performance objectives, are as follows: To Increasingly equip students to Impart the churth and the worfd Ensure Moorlands remains a discipleship-oriented. healthy and supportive communtty Continue developing learning resourcesto support flexible learning o Increase portfolio of courses offered both in person and online o Build greater capacity for academic research o Continue to address key risks to equality of opportunity in Higher Education Ensure that benefits of belonging to Moorlands, our partnerships and USP5 are effertlvely communicated to others To Secu finanaal sustslnablllty o Recruit a minimum number of undergraduate and postgraduate students each year o Generate increased income from non-HE provision o Develop regular donations to 5% of general fund income Reduce general fund dependence on irregular donations {using them instead for new developments) o Increase income from site Improve operatlonal economy and efficiency by scrutinising general fund expenditure 10
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2024 To achieve greater Independen and securlty through recelving Degree Awardlng Powers Apply for Degree Awarding Powers as soon as conditions allow o Maintain current academic quality levels o Strengthen governance To ensure staff are well supported and equlpped to deliver their roles Increasingly Inspire a positive working culture in line with the College values Ensure clear and timely communication between ELT, Twstees, staff and volunteers o Review individual and collective training and development strategy Continue to strengthen line management and review system in light of best practice Each performance objective has one or more Key Performance Indicators aligned with it. with nominated management responsibility, and these are being overseen by the Executive Leadership Team. Our undergradLiate degree student intake for 24/25 is expetted to be at least 40 for all our BA courses, maintaining a similar level to last year. This includes an intake of 22 students at Christchurch, including seven in Foundation Year, plus five students in the regional centre in the South West. Our hybrld-delivery Flexible Learning BA will have an intske of 14 in its second year up from 12 in 23/24. Our intake for MA Applied Theology has maintained at the same level as last yearwith 19, and we will be teaching at least 20 students for the various courses run by the School of Language and Scripture. Staternent of Internal Control As governing body of the College, the Board of Trustee5 recognises that it h3s 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 responslble, in accordance wlth the responsibilities assigned to bt in the Article5 of Association, and the requirements of such bodies as the Office for Students. The system of internal control is intended to manage rather than eliminate the rlsk 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 risk5 tothe 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 Comrnittee. This process has been in place for the year ended 30 June 2024 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 everyjune, 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 dirertion of the College and receive reports from the Chair of Audit and Risk Committee and have acce55 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
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES (continued) For the year ended 30 June 2024 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 viewthat the College has an appropriateframework for delivering assurance on key aspects of governance, rlsk management and internal control, and that there is clarity In terms of the respettive 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 fundin& the Trustees are of the view that all reasonable steps have been tske, through the College'5 ELT and the above committees, to: ensure that funds from the Department for Education IDfEI, the Office for Students {OfSI and other funding bodies are used only forthe purposes for which they have been given and in accordance with Ofs, Financial Memorandum and the Funding Agreement with DfE and any other condttions which DfE or Ofs may from time to time prescribe; ensure that there are appropriate financial and management controls in place to Safeguard public funds and funds from other sources. safeguard the assets of the College and prevent and detect fraud; and secure the economic, efficient and effective management of the College's resources and expenditure. ststement of Trustee Re rtin Res nsibilitles The Trustees (who are also direttors 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 lawand accounting standards {5ee Note l). Company law requires the Tnjstees to prepare financial statements for each financial year, which give a true and fair view ofthe 5Late 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- select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed. subjert to any material departures disclosed and explained in the finanaal statements prepare the financial statements on the going concern basls unless It is inappropriate to presume that the College will continue in operation. The Trustees are responsible for keeping adequate accounting records that dlsclose with reasonable accuracy at any time the financial positlon of the College and enablethem to ensure that the financial statements comply wth the Companies Act 2rMJ6. They are also responslble for safeguarding the assets of the College and hen for taking reasonable steps for the prevention and detertion of fraud and other irregularitie5. 12
MOORLANDS COLLEGE ANNUAL REPORT OF THE TRUSTEES {contlnued) For the year ended 30 June 2024 Information rovided to Auditors In so far a5 the Trustees are aware.. there is no relevant audrt information of which the College's auditors are unaware- and the Trustees have taken a115tep5 that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Approved by the Trustees on 18 Novernber 2024 and signed on their behalf by: Tim Goulding (Chair of Trus Andy du Feu (Prinapal) 13
MOORLANDS COLLEGE INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF MOORLANDS COLLEGE FOR THE YEAR ENDED 30 JUNE 2024 Oplnlon We have audited the financial statements of MoortarKls College {the'charity) Ihe year ended 30 June 2024 whtch comprise the Statement ol Finan81 Activities, the Balan Sheet. thè Statement of Cash Flows and the notes to Ihe finala1 stateEnts, including a summary of signfficant &countin9 wlicies. The finandal rewting framework that has been appliod in their preparation is applicable law and United Kingdom AccJ)unling Standards. including Financial Reporting Standard 102 Th& Financial Reporfyng st8n[l applic in the UK and Republic of Ireland {Unlt6d Kingdom Generally Acc8Pted Accounting Practic8). In our opinion the finanrial statements- give a true and fair wew oflhe state of the raritable companys affr$ as at 30 June 2024 and oflts incoming resources and application of resourtss for the year Ihen ended: have been proFety prepared in accordan United lfjngdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Companios Act 2(X)6 anej the Office for Students. 8asis for opinlon Wg conducaed our audit in accordance Intemabonal Standards on Audiljng (UK) (ISAS (UK)) and applic4ble law. Our resFonsibilibes under those stsndards are further described in the Audttorfs fesponsibilities for the audit of thè finanual statements seclion of our reFQrt. We are independent of the charitable cJ)mpany in accordan with the ethical requirements that are relevant to our au(Jit of the finanL?al statements in'the UK including th8 FRC'S Ethical Standard,. and we have fulfilled OLFr other ethical re5ponsibililie$ in atsx¢rd2n th the reqUIrents. We telieve that th8 audit evidence we have obtalned is sufficient and appropriats to provide a basis for our opinion. Con¢luslons r•latlng to going concern In auditing the finanth'al statements, we have ujnduded that the dIrtors. use of Ihe going nrn basis of accounling in Ihe propardtion of the financHI ststements rs apwopriate. Based on the work we have perfomed, we have not identified any rnaterial nrtaIntI&$ aling to events or condFtions that irKlividually or collects"vely, may cast s19nffTrI doubt on the CharTty'$ akn'lty to rx)ntinue as a going nCern for a per of at l&%t 12 months from when the financial statements are autn$•I for issue. Our responsibilibes and the resFonslbilities of the dIKe(A0 with respeLa to going (x)ncem are deribed in the relevant seclions Df this rewJrL Other inftnnation The other infomation (x)mprises the 1nfcffmatl¢ incJded in the amual reF)Ort, iK4udlng the directors, reForL other than the financial statements and our auditors report Ihereon. The directors are responsible fDr the other information wjtsined within the annual reporL (r opinion on Ihe financial ststements does not cover th8 olher InfOrThticffi and, except to the extent otherwise expliatly stated in (Ajr reFOrt. we not expre&8 any fom] of assurance condusion thereon. Our responsibilty ts to road the other inf0mtIOn and. in doirKJ so. CJ)nsider whether the other information is materially Incnnsislent wrth the financial statements or our kn(Nledge obtained in the (x)urse of the aud[( or othenNise apFears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatem8nts, we are required to determine whether thls gives rise to a material Misstatent in the financial ststaments themsdves. If. based on the work we have perfomied, we Conclude that there is a matwial misslatement of this other informabn, are required to report that facl. We have nothing io report in thi5 regard. Opinions on ¢)ther matters prescrlb8d by the Companies Act 2006 In our i)pinion, based on the work undertaken in the c£Jur5e of our audrl: the information given in the trustees, and strategic reiyxt, vthich includes the directors, report prepared for the putposes of company law, for the financial year for %thi¢h the financtal statements are prepar is ¢x)nsislent with tha finan¢lal statemen15,' and the directors, and strategic report indled within the Trustees. Report has been prep¥ed in accordance 8ppII(able legal requirements. Oplnlon5 on other matters wescribed by th8 Officè for Sluderrts. (Qt8) tern and eondltions of funding for hlghèr educatlon Instttutions and the Ofs's a¢counts direction In our opinion, in all materfal aspecis- funds from whatever source administered by the thr1tyfOr8clfic Pufposes have been properfy applied lo those WIF)Se$ and managed in accordan Mth the relevant tyislation: funds prowd&l by Ofs have been appld in accOare with the relevant temis and coThJitTorts, and any other tem)s and condltions attached to thom., and th& requirements of th& CXS'S accwnts directi have been frL 14
MOORLANDS COLLEGE INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF MOORLANDS COLLEGE FOR THE YEAR ENDED 30 JUNE 2024 {continued) Matter5 on whl¢h we arn raqulred to report by excèptlon In the light of the knowledge and understanding of the charity and its environment obtained in fhe course of the audrf, we have not identified matertal misstatements in the dirÈcors' or strategic rerx)rts included wth the trust. report. We have nothing to rewrt In respect of the following maiters in relation to which the Companies Act 2006 requires us to report to yOLb If, In OUT opinion: lequate and proper accountwu r)rdS ha not been kepL or relunlq adequate for our audit have not been receivad from branches not v7sited by us. or the financial slatemenls are not In agreement with the accounting recy)rds and retums," or certain disclosuffjs of directors, remuneration specified by law are not made.. or we have not re(bived all the infomiation and explanations we require for our audttr. or Responslblltties ol directors As explained more fully in the directors. reswnsibilrties statement, Ihe trust88s (wh) are also the directors of the chartsble company forthe purposes of company lawl are responsible forthe prEparabon of the financFal statements and for being satisfied that they give a true fair view, and for sud] intemal (x)ntrol as the trustees detem)ine is neSSary to enable the preparation of financial statsments that are free from material mi5Statement. 7thther due to fraLKI or error. In preparing the finanoal statements. ts drectors are responsible for assessing the charty$ ability to cx)nkn'nue as a going concern, disclosing. as appli¢able."m8tters rglatsd to going conrn and LtslrvJ the going concem basis of accounting unless the dlrectors either intend lo liquldats the company or to cease opeTrtton5. or have no realislic teMatiVe bLrt to do so. Audito8 rèsponsibilities for thg audtt of the financial ststem8nts Our objectives are lo obtain reasonable as&Jran aboul whelher the finala1 statements as a whole are free from material misststemenl, wheth8r due to fraud or error. and to issue an auditorfs rep)rt that includes our opinion. Reasonable assurance is a high levd of assuran, bLrt is not a arantee thal an audit o)nducted in a¢Wrdan vrith ISAS (UK) will athys detect a material misstatement when tt exsts. Misstatements arise from fraud or error and are considered material if, indNidually or in the aggregate, they coukl rgasonably be expecled to Influen the ecorMiC decisions of taken on the basis of these nanci81 statements. Irregularities, indudlng fraufl, are irtstar8s of non-complian with la and regulalion5. We design prOdureS in line with our r6sponsibilities. ouuined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our proc&fjures are capable of detectlng irregularities. Ind11ng fraud is detsiled telow: Based on our understanding of the charity. we identifd that the pr[npaI risks of nor[)118n with laws and regulations relaled to employment and finan(xal rewrtin9 legislation and we considered the extent to which non-compliance mlght have a malerial eff on the finanual statements. We also o)nsidered those laws and regulations that have a direct impad Dn the preparation of the financial ststements such as the Companies Act 2006 and the Charities Act 2011. We assess&1 the susceptibility of the ch8rity's financial statements to material misstatement, inctuding obtaining an understanding of how fraud might occur. by maknThJ enquiries of management, cortsidering the intemal controls in place and discussion amongsl the engagement leam. Wa determined that the principal risks were related to management bias in axounting estimates, presentation of separately disclose(l items and managemenl override of controls. In resp)nse to the Trsks idenlifjed we designed proCedUS which included, bul were not Ilmiled to challenging signlficant auntIng estimates. agreeing financtal statement disclosurgs to underfying supporting dcthmentslron, evaluating th8 intemal oMtrols, reviewng trustees minutes and identlfying and tes1iThJ journal entries. There are inherent limitstions in the audit procwJur8s described aly)ve. Thè more removed that laws and regulations are from financial transacttons. the less likety rt is that we would become aware of nonmplIanCe. Material misstatements th?1 arise due to fraud can harder to detect than those that arise from error as they may involve deliberate (ncealment or llUsIon. A fvrther descriptson of our responsibilities for the audtt of the finanual statements is Iwated on the Financial Reporting Counul's website at: http."11svww.frc.org.uklaudrtorsre5ponsibilities. This descripti fonns part of our auditc¢s report. 15
MOORLANDS COLLEGE INDEPENOENT AUDITORS, REPORT TO THE TRUSTEES OF MOORLANDS COLLEGE FOR THE YEAR ENDED 30 JUNE 2024 (continued) Use of our rnport This retxjrt is made solgty to the tharitsble companrfs member3. as a trK)ty, in accordance with Ch2Pt8r 3 of Part 16 of the Companigs Act 2CNJ6 and regulations made under that ACL Our audtt work has teen undertaken so that we mfghl stale to the Charitable companys members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pernted by18w, we th not accept or assuTh reSponsilIty to anyone other than the charitable company and its members as a Ixmly, for our a11* work. for this ropor( or for the opnions we have fompd. Miriam Hickson FCA (Senior Statutory Auditor) for and on behalf of Jacob Cavenagh & Skeet Stalulory Audltor. Chartered Accountants Dated.. 21 Z02 5 Robin Hcod Lane Sutton Surrey SM12SW 16
MOORLANDS COLLEGE STATEMEIIT OF FINANCIAL A1vlEs 11ndlIng irtmme and Expendibfft cOUntI For the year ended 30June 2024 Tot41 2024 Unrestrleed DeJiqnuted Rtricted Jbnds2023 fvvd52023 p2rratsnd 20Z4 Total 2023 tundJ2024 fiJrd$2024 IPKOME Income tromyveredfiJnd¥ Plots 47.662 27847 75.109 OtherTradin$P£tlyllie JincOMe OthertssaIes InVestmElltln¢ome Incomefrom¢hthtthfeiviYi$ Fducatlon8nd rditedinc(>me 131J40 98J23 170,283 2.316 3.358 11.630 2.316 3351 limo 2.327 3288 5,936 2,327 3.238 5.936 1.489.920 .391 1.584.062 241.177 1.825,239 Toi4flncorTre 1.554.88S 122.838 1677.724 380,100 2,007.or13 EXPENDrfuRE RlrtgFundi ChBrItl1AthlS 20.110 1.612.737 20.11 ,yi¥ 2S.511 1666.385 ZS.511 1,994,629 90.781 209.080 86,521 241.723 T0ts1E¥penilr 1.631847 $0.78L 209.0 1.932,708 1,692.896 86,521 341,723 2.021.140 NeiinumellFxpertthrelbeS)NTrJnsfeKS 177.9611 190.7811 186.2421 1254J141 34.007 186,521) 38,377 (14.1371 Transfsrs 170.2451 7D245 314215 1303.5661 110,6491 t4EfMOVEMwifiFUND5 114B.2061 120.5361 II&Z42) 1154.9841 348,2Z2 {350.0871 27.7Z& 114,137J Balances•tstartofyarlLJulyl 661.179 4.S91.119 181N4 5JIY.IJ2 313,957 4.981.206 J54,15S 5.448,319 Bil4ncesatendofy4ariaoJvnel 511973 4.570,583 95.642 5.179,198 661.279 4.591.119 181,884 5,434,1ts2 ThÈnDte5 w¥&dIt135rtE1thoS9faCrlSkleOfitL 17
MOORLANDS COLLEGE Registered Company number 4241702 BALANCE SHEET As at 30 June 2024 2024 2025 Note FIXED ASSErs Tangible a55etS 4,570,583 4,591,119 CURRENT ASSEf5 Stocks Debtors Investments.. l Year Bond Cash at bank and in hand 27,906 87,341 88.762 511,504 71S.513 24.370 64,913 901.060 990.343 CREDITORS: Amountsfalling duewithin one year { 106.8981 (147.280} NCURRENT ASSErs 608,615 843,063 NEfASS 5.179,198 5.434,182 RESERVES Unrestricted General Funds Designated Funds R£stricted Funds 512,973 4,570,583 95,642 5.179,198 661,179 4.591,119 181,884 S.434.182 Thegeflnancial Statementswe approv&J and authori1 for issue bytheTrusteeson 18 November 2024 and are signed on their behalf by- MrTGoulding MrAduFe Thenote5 numberoj i to 13 form part ofthe5efinaTrcial rtatanent& 18
MOORLANDS COLLEGE CASH FLOW STATEMENT For the year ended 30 June 2024 2024 2023 OPERATING AcnviTIES Surplus {deficl afterdepreaatK)n Adjustmentto add back depwiation Adjustrnentto add back105s Ideduttsurplusl cm disposal Adjustment to dedutt interest Net changes in workin8 capitsl IncDme taxpaid Net cash infbjw (outlknv) from opera0 aL1fvtiies 1254984) 89938 (14,137) 699 { 11.6301 1663461 15ts36J 11329 (242,178) 77.777 INVESTMENfAcfiviTIES Purchase of fixed a55ets { 70,2451 188,7621 11,630 (58275) Purchase of l-year Bond Icharity Bank) Interest recelved 5,936 Net cash loutlkM)from investilg actr•kie5 (147,377 {52,339J FINANCING AcfiviTIES Netosh Infkhv lautfS)w)from artp4ities Overal netca5h inf1owlc4ftll} (389.556) Cash at Start of year Cash at end of year 901,060 511,504 875,622 9Qi,060 The notes numbered I to 13 forTh part ofthese financial statements. 19
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the yearended 30 June 2024 ACCOUNTING POLICIES Basis of preparlng the financial statements Mwrlands Co118ge is a tharrtab18 company registered in England & Wales. The address of the registered offic@ is given in the charity information on page 1 of these financtal staterrEnts. The charity constitutes a public benefrt et7tty as defined by FRS 102. The financial statements have been prepared under the Companies Act 2006 and in accordance with the Charities Statement of R8commend&d Practice (Charrties SORP (FRS 102)). Financial Reporting Standard 102 (FRS 102). the Charities Act 2011, and the requirements of the Office for Students. The TNstees consider that Ihere are no material uncertainb'es regarding the College's ability to continue as a going COnM. In r&aching that conclusion Trustees have considered the cash flows for one year from the dat8 of approval of the fjnancia 5tat8ments. The Trustees hav8 wnsidered a range of scenarios that could occur over that period and believe that the strength of the College's reserves. wilh various economi8S that have been put in pla, wll ensure its ability to continue as a going concem for a period in excess of 12 months from the reporting date. Beyond that timescale. the Truste@s b&lieve the ongoing impact of th& signifiant revision of th8 College's BA programme, tog81her with fresh marketing resourcing and initiatives, and maximising recruitinent opwrtunities at corrferences and events, will generate suffioent student applications and fee income to bring the Colleg6 fInanS back into surplus. Additionally the appointment of an extemal fundraising advisor on a rolling agreernent. in the summer of 2024, is anticipated to grow income from both trusts a1 rndividuals. Th8 financial statements have been Fxepared urKJer the historTcal cost convention and are presented in st8rling whith 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 sat out below. These policies h8V8 been consist8nlly applied to all years presented unless otherwise stated. Income Income. induding grant. govemment grant and legacy income. is recognised on an accruals basis, when the College is legally entitled to il after any perfonnance conditions have been met, th8 amounts can be measured reliably, and it is More likely than not that the income will be recetved. Incom8 is deferred if time- related cx)nditions Cf perfomiance ndItionS require deferral of the amount. Expendllure Expenditure is acoiunted for on an accruals basis. inclusNe of 1rrV8rabre VAT. Certain expenditure is directly altributable to specrfic actwities and has been allocated to those cost categories and gov@rnan¢e costs in accordance wtth the requirements of the Ststement of Recommended Practi. Cerlain other costs and some stsff costs are attrrbulable to more than one activty. In these cases the costs have been apportion8d to the individual aclivities the basis of Ihe lime spent by staff on matters relatlng to thos8 activities. Governan costs c(Knpri8e of all costs relating to Ihe public accountability of the Co118ge and its compliance WFth regulation and good pra[. Thes8 costs Indle costs relating to th8 Statutory audit. Bursaries Bursaries from restricted funds ar8 induded as expendire in U)e p8riod for whi(7 the award is giv8n. Tangible fixed assots Assets are only ¢apitalis8d, at cost, where they o)st £1.000 (Y m(Ye. Assets rx)sting less than £1.000 may be ¢apitalised wh8re these form part of a set or a viider equipment package. Freehold land is not dePrated. Depreciation of buildings is based on useful economic lif8 and residual value of each main building. Depreciation of other fed assels is promded for at the follomng rates to wrrte off the original cost of each asset over ts estimated ufiJl lrfe. Depreciation on assets is charged from date of first US8 or, where more appropriate. from the date of purchase. 20
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the year ended 30June 2024 ACCOUNTING POLICIES (continuod) Freehold buildings Fixture5. fittings arKI equipm8nt Between 20 and 100 years straight line 20% per annum straight lin8, unless useful economic life is deemed to be longer or shorter than 5 years 20% per annum straight line Motor vahicles Debtors Debtors are included at the settlement arnount due. Prepayments are valuad at the amount prepaid. Creditors and provi8lons Creditors and provisions are CognISed Whe Ihe College has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and th8 amount due to Settle the obligation can be reliably measured or estimated. Creditors and wovisions a recognis8d at their settlement amount. Stock This is valued at Ihe lower of wst and net realisable valu8, after allow4ng for slow moving or ob501ete items. Library Th8 Cost of additions to the library ts written off in the year in which the lterr are purchased, except for eBook subscriptions where the length extends beyond the Current year. Pensions The College offers a defined contribution pension scheme to rts employees an(J makes contributions to this pension scheme on behalf of its employees. The scheme is open to all qualifying employees and 8nrolment in Ihe scheme Is optional. The contributions payat4e for the scheme for the periixl 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 balan she8t date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the dal8 of the transacti(. Exchang8 rfferen5 are taken into actount in the Statemenl of Financial Activities. Tax status The College is a registered chaiity and th6refcfe Ft is not assessable to c(¥poration tax on any surplus charitable funds. Funds accounting Funds held by the College a". Unr8Strictedgenerdl funds are funds that can be used in )rdan with the charitable objects at the discretion of the Trustees. De&gnated fvnds are funds set aside by the Trustees out of unrestrtcted general funds for specific future purposes or projects. Restricted funds are funds that can only be used for partiGular purpose5 Within the objects of the College. Restrictions arise when sperified by the donor or vthen funds are raised for particular restricted purposes. The nature and purpose of each fund 15 explain8d rther in note 8 to the financial statements. 21
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2024 2a L)ONATI&Y5AND LEGACI Unrestricted Restrict 2024 2023 General donatlons Donationsft)r new proletts Donatlonsfor5tudent bursarie5 47,662 47.662 1,942 25,505 75, 109 131.340 30.146 8,777 170,263 1,942 25.505 27.447 47.662 2b Gk4NT AND FEEINCOME 2024 2023 Grdnt incornefrorn Iheofflcebrstudenls Grant Incomèfrom other bodie5 F incornefor taught HEaward5 Feeincornefor researth awards Feelntomefrom non-qualifying cou Total Grant and Fee Income Other Educatiot)al and retated income Total Educational and rdated income 27,631 61.380 1.022,484 49,766 1.150.190 16.648 1.128,143 457.168 1.585.311 9.734 1.256.467 568,772 1,825.239 3 ANALYSISOFEXPENDIIURE 5trff costs Premises DeplatIOn LAhercost5 Total 2024 Toto12023 Costsof geTreratin8volunt?ryincorne c0stsofact1tlQsfor generntinglncome Tot&lcostofroi&ngJunds TeachlnBand related costs Other student costs Support Costs Governanrecosts Totolcostsofcbt7ritobleo¢tlvities 87 19.835 19.922 659,263 113.200 399.568 105 82 192 19,917 20,109 939,929 266,897 692,665 13,107 1.912.598 6,370 20,141 26,511 1,025,393 269,723 680.377 19,136 1.994,629 187 250,070 153.697 54,951 13.107 471,825 30.596 178.804 59.342 1.172.031 178.804 89.938 Total Expendlture 1,191,953 178.804 89,938 472.012 1,932.707 2,021.140 Othw costs.. 2024 2023 rea¢hin8tOSt5 Libraryand stvdy rnateriajs Catering and StUdt welfare verti4ngand promotion of thecollege Officecosts Fees p3yablefortheaudlt Conswltantsand legal fees Travd and substente Bad debt5 & provision fordoubttvl debts Sundry expenses 251,382 25,932 105,807 20,532 15,006 11,980 10,468 25,918 1.096 3,893 472,014 300.317 27,678 120.736 20,453 17,464 11,073 22.632 24,310 9,810 10,204 564,677 22
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the yearended 30 June 2024 4 AFFCo5r5 2024 2023 Wagesand salèrles Socia[uritYCOStS Otherpenslon costs L017,497 66,260 78.015 1.161,772 1,027.560 69,096 87.964 1.184.620 Rernunttatlon of Principal 2024 57,688 2023 &lary P&0 contrlbvtlons Termlnatton payments Remuneratlon of ktlngPrfncipal Salary Penjon contributions 48.169 4,816 52.985 65.232 Median pay ratlos Atl stsff bagc salary IwrtPrin} Al stafftotal p3y{wrt Prin) All staff baslc Aary (wrt kt Prin) l5taffto( p3ylwrtkt Prlnl 2.00 na no na 1.32 1.45 na lan Coffey was PrinpaI for2 monthsatthebeginnir¥ofthe k¥evu$YrU-A¥2023l In 1024 lan CoffEy rJ)rMuÈd3s an adItrIedrera1WredreMUnu31On lirKernkknerM & penI (£5364. At 30Jure 2024ttrE were Maccrued arn(Junts In re4)ettofperLsioncosts12023: Étffj. NostafFrxewedrEmuner3tb)nh eKess ofÉ60mlw3rnum IZ023: £WI. Indvdedintheabtsveare redurnlarKy payments of £nll12023.. £ndl rnade in rEktiontostsIfk.)ndteTmtIDnPM¢n of£nil made theyearl2023.. Enill. 1 suth payrnentsare rerfj8ned WhlegalagreeMtiS readd. No rernunEratDnvJas P2td toTnL%tees ftheIrlea5TI1jstees. Travel eAPere5 of5 W2[mbuedIOToUIfjngthe yearl2023.. £1(Y)Iformeetir4 iuÈndarKe. £Vra5 paklon behaWofTrufftes bthird pari$fv1nIOraomrn1lolloI3.. 4(8). Yrnets ofÉnll weTernadÈtoTrustees fOr[eLtre$12D23. £nlltothreeTtusesl R•nunerJtlOn¢¥FdosefamymÈmLrs of Ttustees totaldEnl111023.. £nli I forteathir% arvjstaff accommottstlc. Jmgthe yearthe Coleee havearytrar&acbons 4ththatiiteswiththhthit5reS3 Te. lfi tlE prevth5yearl20231 the Collegeshaa Trustse Isouth wesly retrThfed Irtsme ofE12P32andinturrede4Jenses of£56912. These rr8r8ctsonS werecarriedoutatin'arni s lEryth.t4s. ThefAStsÈS recehfednOlJwefftfvthetrdngacd. ReMUrlat Ihcempl¢yerNI & pen5ionl ofkty m3nagerRenttotaW E262267 fv6 posts (2023: E333345 for8 Its1. RneRtiOn1lrKepl¢tyÈrN1 & pensionlolcbjsefamity members of keymanaBeMttDtaedQ2.l9l(lO23: £635761. Jfingtheyear. payrnents totsirng: £420were reLÈivedfram, a£ThI made to.thistithuth &mChurth £D#v41A(LnI5 a trustee 12023-. £3W reed.Érullr.adel. £63A60wEr2receNedfrom,arn1£5072 made to.Wythffe 8blÈTrar61atr ILlofvAMthlan W 15 a trte 12023- £49.7661Eled.LSAI7o mtdel. £1?85 werereCeDiedfrDm.3l£nil made t¢J.SmTrhillihwth ofwich Meknisabithe 12023.. £IJ07 tErtsfe4E70madel. ThÈaverageweekFynvmbertsf employeesway. 2024 ual 2023 Actut71 EquI¥/et Ffequiv8lent Acadunic Full tlme Parttime 30 30 Support Full tlme ParttimÈ io 20 17 Totsl Full tlrfte Pèrttime 0¥2fdll Total 17 14.2 15.1 29.3 J9 50 69 16.1 14.4 30.5 47 64 The iljove ernployeenumbers exdudesthdents and&reALecturers whohave beennrknedona tempor4ry basis durKJgtr year, howeverthe¥datrdpayro¥costs a indudedththeabwe sbff costs. 23
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2024 S TANGIBLE FIXED ASSEYS Freehold Buildings £ Land Equipment Total C¢)St.' at 30June 2023 AdditlOn5 Disposals at 30 June2024 DEPRECIATION.. at 30 June 2023 Chargefor theyear iminated on disposals at30June2024 282,299 5,373.202 52,3Q9 647.044 17.936 148,526 616.454 6,302.545 70,245 148.5261 6,324.264 282,299 5.425.511 1.151.414 58.018 560.011 31.920 147.6821 544,249 1.711,425 89,938 {47,6821 1,753.681 1.209.432 BCQK VALUE.. at30June2024 ot30June2023 282.299 282.299 4.216.079 4,221,788 72,205 87.033 4,570,583 4,551,120 JI of the assetsare used for charitable purpose& 6 DEBTC#IS 2024 2023 Feesoutstandlng Prepayrnents Otherdebtors 18.302 49,498 19,541 87.341 22,211 32.010 10.692 64.913 7 CREDIT0RS:AMfAif FALLING DUEWITHJH C4E YEAR 2024 2023 Feesln advance Tradecreditors Deferred In¢ome IGr3ntsl Taxesand social security cruals Holiday payaccrual 4.843 31.569 15.320 44.327 11.857 25,886 32.743 106.898 31,336 26,243 30.054 147,280 Movemen rred Inco in 3d¥ant 2024 2023 Deferred In¢omÈ brouEhtfonwd Income releasal in they Incomedeferrgj in the year Deferred Income carrled for¥Ydrd 15.320 112.9201 2,443 4,843 14.290 (11.257) 12.287 15,320 nt n Deferr om Gran 2024 2025 Deferred In¢ome brty Incomereleawj in theyear Incomedeterred in theyear Deferred Intome c¥fledlDrward 24
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the yearended 30 June 2024 8 RECONCILJAMON ON MOIEMENTS OFFUNDS Forthe year ended 30June 2024 At l July 2023 Income ExpditUre Transfers At 30 June 2024 Unreslricted Funds General fund 661,179 1.554,886 { 1,632,847) 170.245 512,973 Deslgnated fvnds Contlngency Fund Cyclltal Refurbishment & Malfttenan Bullding Yixed Assets Equlpment Fixed A%ets 4.504,087 87,032 4.591,119 {58.0181 132.7631 190,7811 52,309 17,936 70,245 4,498.378 72,205 4,570,583 Totsl unrosricted fvnds 5.252.298 1,554,886 { 1,723,628) 5.083.556 Restrictedfvmds New Projects Fund Student Bursary Fund Student Hardship Fund Bnda Brady Bursary Fund Misc. Other Restricted Funds 105,865 43,561 8.142 5,968 1,880 17,658 89,190 183.8651 11,0531 11.3801 117,6391 1105,1431 30,142 48.476 500 19 16,505 32.458 Totsl restricted lunds 181.884 122.838 (209.080) 95,642 Total funds 5,434,182 1,677.724 11,932.7081 5,179,198 FortlJefvEorended30June2023 Atl July 2022 Income Experlditure Transfer5 At 30June 2023 ilnre*rirtedFunds Generolfvnd 312.957 1.726,903 (1.692.896) 314.215 651,179 Deslgnotedfvnds ContiJpgencyFund Cyclict71Refvrbishment& Mointaponce Bvildffn9 FixedAssets EquipmenthxedAssets 186,300 175,541 4.548,667 70,698 4,981,206 {J86,300J 1175,541 J 154.985) 10,405 (31.536) 47.870 (86.521} {303,566) 4,504,087 87.032 4,591,119 rotalunrÈ5trirt¢dfvnds 5.294,163 1.725.903 {1. 779,417) 10,649 5,252,298 Re5trlrtedfvnds NewPro}ect5 Ftsnd StudentBursaryFund StudtntHord5hip Fund Brenda Brody8ursoryFund MIX. OtlJerRestrlctedFunds 75,825 50,543 1.684 3.886 22,218 174,540 5.618 2.818 2.359 94.765 {144,SOOJ {12,600J (4,502) (6.245) (73.876J 105,865 43.561 flO.649J 32.458 Totulxestrlcredfvnds 154.156 280,100 (241,723) 110.649) 181,884 rotulfvnds 5.448.319 2,007,003 12,021,140) 5,434.182 25
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 20Z4 8 RECONCILIATION ON MOVEMENfs OF FLINDS (continued) The funds shown on the previous page have thefdknwing purposes.. Unrestrkted Fund5: General Fund- availablef(Kthe generar0peran clthe Cdlege's main aLtiviti@s Desnated furnts: Conti Fund- prev to suky)rtthe General Fund in the event thatincome declnes,. now consolidated in Ge efurblshmen & Maintena F. edAsse d- pw tofund orEoing building maIntenar. now consolidated in I - hold5 fixed assets arI5w from caixtalisation of land aTrJ bUildg assets. hoids fed assets arfsing frDm caixtali5ation crfplanL equipment and vehicles. en Buildin Restrkted F$. w PrD"ects Fun Studen Bur50 Student Har(tshi rFda Bra Misc Ilan - hekl fornew specific buil(fing orequirping projects. d~ held forbur5ary funding of studenttuition fees. Fund- held to PfDvide finanaal hardship SUprtfOr5tUdents. und- held forfunding needs of student boty or individuals. ed Funds- hekl forvèriou5 spec puwes as received. Fu ous Other R The fund trdnsfers indlcated the previoLLS page are explained as follows". Between Generdl Fund and Desi8nated Funds: Caprtalisation of fixed assets purchased In the year, andtrdnsferredtothe desEnated fund for &Jildin8 FixedAssets.. £5230912022123: £IOA051 and Equipment FixedAssets.' £17.936 (2022/23: £37,221). From General Fund to Restricted Funds: TTrn5ferto New Projects Fund tocoverthose staffing and operatronal costs which are not covered by restiicted inwme and were being charged instead to the General Fund: £nil 12022/23.. £nil). etween Desiqnated Funds: Capitalisation offued assets purthased ulef Cycbcal Refbi$l¥nent & maiTrtenan and transfeffed to the designated fu1 for Building Fixed Assets: £nU (2022123: £nil). From Restricted Funds to (rthe.. Copttali5at)n of fed assets, pUhased from Misc 0therReStd Funds, and transferred to the desi8nated funds for Equipment Fixed Assets.- £nl12022123: £10.6491 and Buildings Fixed Assets., £nil {2022/23.' £nill. 26
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the year ended 30June 2024 9 ANALYsISOFNASSEfS BETWEEN FiNDS 2024 unrestrict Funds General Fund Designated Fund5 Re5trirted Funds Totsl Funds Fixerl assets Inve5tments.' l Year Bond Cash at bankand In hand Stock Debtors Creditors 4,570,583 4.570.583 88.762 511,504 27,906 87.341 1106,898} 5,179,198 88,762 415,862 27.906 87,341 1106,898} 512,973 95,642 4,570,583 95.642 2023 UnrastrlctedFunds Generol Designoted Fund Funds Rebtrlrted Funds Totol Funds Fixedossets Investments.. i YearBond Cosh otbankandin hond stock Debtors Creditors 4.591.119 4.591.119 719,176 24.370 64,913 (147.280) 661.179 181.884 901.060 24,370 64.913 f 147,280J 5.434.182 4,591.119 181,884 10 LEASES Operating leaseehar8e5fortheyearweref nil (2023: £1.6061. At 30June2024. thecollegehad total fijtureminlmum payMtS undernon-cancetlableoperating lease5 as.. ryJ& As ot30Jurte Z023 lond& ilIdIng$ OthEr bui7dtiJgs Other within l year within 2 to 5 years after 5 year5 11 CAprrAL CINfflMITM£PIIS Therewereno capital commitmentsat 30June 2024 (2023.'£nill. 12 coNnNGENTLIABILmES Therewereno contingertt Ilajilitiesat 30June2024 (2023: £nllk 27
MOORLANDS COLLEGE NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2024 13 ACCESSAND PARncipATJ(hY COSTS 2024 Staffing £ 4.210 1,800 2,920 2024 Other£ 1,490 10,674 2024 Total E 5,700 12.474 2,920 2023 Stoffing £ 4,955 1,800 3.985 2023 Other£ 701 6.872 2023 Totol£ 5.656 8,672 3,985 £C investment Financial 5UPPOrt Support for disabled student5 (extluding costs above Cates]es} Research and e4aluation 15,490 24,420 IS,490 36.584 12,901 23,641 3. 750 11,323 16,6SI 34,964 12,164 The 3bove stsffing costs are W1ts1nsttothe delivery of the acress aThJ pa(ali)n a¢bvities. Those staffin8 costs are Included Èn the oyerallstslfing costs shown in Notes 3 and 28