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|||||Page|
|---|---|---|---|---|
|Reference and Administrative|||Details of the College, its Trustees and Advisers||
|Trustees'
Report||||2-15|
|Independent|Auditors'|Report|on the Financial Statements|16-20|
|Consolidated|Statement|of Financial Activities||21|
|Consolidated|Balance Sheet|||22-23|
|College Balance Sheet||||24-25|
|Consolidated|Statement|of Cash Flows||26|
|Notes to the|Financial Statements|||27 —48|
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|Approved|by|order|of|the|members|of|the
board|of|Trustees|on|
|---|---|---|---|---|---|---|---|---|---|---|
||||||~(~(~|and|signed on their behalf|by:|||
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||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2023
8|2023
2|2023
2|2022f|
|Income from:|||||||
|Grants received||4|130,459|1,879,268|2,009,727|1,500, 127|
|Charitable
activities||5|23,551|1,218,356|1,241,907|295,328|
|Other trading
activities||6||525,320|525,320|382,739|
|Investments||||5,678|5,678|144|
|Total income|||154,010|3,628,622|3,782,632|2,178,338|
|Expenditure
on:|||||||
|Raising funds||||289,843|289,843|150,986|
|Charitable
activities|||154,010|3,292,374|3,446,384|2,478,520|
|Total expenditure|||154,010|3,582,217|3,736,227|2,629,506|
|Net movement
in funds||||46,405|46,405|(451,168)|
|Reconciliation
of funds:|||||||
|Total funds
brought|forward|||2,224,261|2,224,261|2675,429|
|Net movement
in funds||||46,405|46,405|(451,168)|
|Total funds carried forward||||2,270,666|2,270,666|2,224,261|
##
|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||Note||8|||
|Fixed assets|||||||||
|Tangible assets||||14||111,440||113,702|
|Investments||||15||||12,633|
|||||||111,440||126,335|
|Current assets|||||||||
|Stocks||||16|105,048||78,493||
|Debtors||||17|2,218,828||1,179,966||
|Cash at bank and in||hand|||1,128,760||1,573,936||
||||||3,452,636||2,632,419||
|Creditors: amounts|falling||due within one||||||
|year||||18|(1,273,616)||(734,491)||
|Net current assets||||||2,179,020||2097,926|
|Total assets less current|||liabilities|||2,290,460||2224,263|
|Creditors: amounts|falling||due after more||||||
|than one year||||19||(19,792)|||
|Net assets excluding||pension asset||||2,270,668||2224,263|
|Total net assets||||||2,270,668||2,224,263|
|Charity funds|||||||||
|Restricted funds||||21|||||
|Unrestricted
funds||||21||2,270,668||2,224,263|
|Total funds||||||2,270,668||2,224,263|
||||COLLEGE BALANCE SHEET|COLLEGE BALANCE SHEET||||
|---|---|---|---|---|---|---|---|
||||AS AT 30APRIL 2023|||||
||||Note||2023
2||2022f|
|Fixed assets||||||||
|Tangible assets|||14||111,440||113,702|
|Investments|||15||2||12,635|
||||||111,442||126,337|
|Current assets||||||||
|Stocks|||16|66,253||45,444||
|Debtors|||17|2,274,612||1,424,900||
|Cash at bank and in hand||||864,611||1,170,900||
|||||3,205,476||2,641,244||
|Creditors: amounts|falling due within one|||||||
|year|||18|(1,067,793)||(564,863)||
|Net current assets|||||2,137,683||2,076,381|
|Total assets less current liabilities|||||2,249,125||2,202,718|
|Net assets excluding||pension asset|||2,249,125||2202,718|
|Total net assets|||||2,249,125||2,202,718|
|Charity funds||||||||
|Restricted funds|||21|||||
|Unrestricted
funds|||21||2,249,125||2202,718|
|Total funds|||||2,249,125||2,202,718|
##
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|||||2023|2022|
|---|---|---|---|---|---|
|||||8||
|Cash flows from operating|activities|||||
|Net cash used
in operating|activities|||(450&856)|(746,220)|
|Income taxes paid|||||(1,530)|
|Net cash used in operating|activities|||(450,856)|(747,750)|
|Cash flows from investing|activities|||||
|Interest received||||5,678|144|
|Change
in cash and cash|equivalents|in|the year|(445&178)|(747,606)|
|Cash and cash equivalents|at the beginning||ofthe year|1,573,938|2321,544|
|Cash and cash equivalents|at the end|of|the year|1,128,760|1,573,938|
|The notes on pages 27 to 48form part of these financial statements||||||
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|iation
is provided
on the fo|llowing bases:|
|---|---|
|Property
improvements
Plant and machinery|- 87years
- 5-15years|
|Motor vehicles|- 5-10years|
|Furniture|—15years|
|Library books|—20 years|
|Computers|—5years|
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|||||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|funds|
|||||||2023|2023|2023|2022|
|||||||2|2|5||
|Grants||||||||||
|Grants|from||the University||of Evansville||1,877,098|1,877,098|1,385,823|
|Government|||grants|||||||
|Coronavirus|||Job Retention||Scheme||||19,175|
|Kickstarter||grant|||||2,170|2,170|15,188|
|Culture|Recovery Fund|||grant|||||32,007|
|Grants|from||University|of|Evansville|130,459||130,459|47,134|
|||||||130,459|1,879,268|2,009,727|1,500,127|
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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2023
E|2023
E|2023
E|2022f|
|Semester fee income, summer
student
travel||programs|and||1,218,356|1,218,356|278,200|
|Land fund||||23,551||23,551|17,128|
|||||23,551|1,218,356|1,241,907|295,328|
##
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023
E|2023
E|2022f|
|Harlaxton|Manor|Enterprises|Limited|525,320|525,320|382,739|
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
||||E||
|Interest|received|5,678|5,678||
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
|||2|2||
|Cost of sales||244,052|244,052|116,918|
|Administration|expenses|45,791|45,791|34,068|
|||289,843|289,843|150,986|
##
|||||Restricted|Unrestricted|||
|---|---|---|---|---|---|---|---|
|||||funds|funds|Total|Total|
|||||2023|2023|2023|2022|
|||||2|2|2||
|Operation|of|study centre|||3,292,374|3,292,374|2280,647|
|Preservation||of Harlaxton|Manor|154,010||154,010|197,873|
|||||154,010|3,292,374|3,446,384|2,478,520|
##
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||||Staff costs|Depreciation|Other costs|Total|Total|
|---|---|---|---|---|---|---|---|
||||2023
2|2023
6|2023
2|2023
f|2022
f|
|Operation|of|study centre|1,103,517|24,000|2,164,857|3,292,374|2,280,547|
|Preservation
Manor||of Harlaxton|||154,010|154,010|197,873|
||||1,103,517|24,000|2,318,667|3,446,384|2,478,520|
|Total 2022|||891,098|33,505|1,553,917|2,478,520||
##
|||||Activities||||
|---|---|---|---|---|---|---|---|
|||||undertaken|Support|Total|Total|
|||||directly
2023
6|costs
2023
2|funds
2023f|funds
2022f|
|Operation|of|study centre||3,283,012|9,362|3&292,374|2,280,647|
|Preservation||of Harlaxton|Manor|154,010||154,010|197,873|
|||||3,437,022|9,362|3,446,364|2,478,520|
|Total202|2|||2,474,321|4,199|2478,520||
##
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##
||||||Preservatio|||
|---|---|---|---|---|---|---|---|
|||||Operation|n of|||
|||||of study|Harlaxton|Total|Total|
|||||centre|Manor|funds|funds|
|||||2023|2023|2023|2022|
|||||2|6|2||
|Staff costs||||1,103,517||1,103,517|891,098|
|Depreciation||||24,000||24,000|33,505|
|Administration||||59,433||59,433|52,968|
|General|expenses|||183,727||183,727|170,143|
|Faculty and||tuition||3,397||3,397|24,372|
|Student|affairs|||220,255||220,255|135,283|
|Physical|plant|||163,517||163,517|84,033|
|Utilities||||369,408||369&408|317,693|
|Housekeeping||||42,560||42,560|27,705|
|Gardens|and||grounds|14,085||14,085|17,436|
|Transport||||15,367||15,367|10,109|
|Security||||315||315|111|
|Catering||||768,623||768,623|478,445|
|Summer|programs|||257,044||257,044|10,944|
|Land fund|||||154,010|154,010|197,873|
|Investment||impairment||12,633||12,633||
|Governance|||costs|45,131||45,131|42,623|
|||||3,283,012|154,010|3,437,022|2,474,321|
##
##
|||||2023|2022|
|---|---|---|---|---|---|
|||||2||
|Fees payable|to the College's|auditor|for the audit of the College's annual|||
|accounts||||11,000|11,000|
|Fees payable|to the College's|auditor|in respect of:|||
|Audit services of the subsidiary||company||4,250|5,000|
|Taxation compliance
services||||2,250|2,250|
|All non-audit|services not included above|||6,000|5,828|
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|Staff costs||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Group|Group|College|Go//ege|
|||||||2023
6|2022f|2023
2|2022|
|Wages and salaries||||||963,821|770,498|963,821|770,498|
|Social security costs||||||71,587|52,380|71,587|52,380|
|Contribution|to defined||contribution||pension|||||
|schemes||||||68,109|68,220|68,109|68,220|
|||||||1,103,517|89/,098|1,103,517|89/,098|
|The average||number|of persons|employed||by the College during|the year was|as follows:||
|||||||Group
2023|Group
2022|College
2023|College
2022|
|||||||No.|No.|No.|No.|
|Management||and administration||||19|13|IQ|/3|
|Faculty||||||8|5|Q|5|
|House Keeping and estate||||||26|22|2.Er|22|
|Catering
and||events|||||3||3|
|||||||53|43||43|
##
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##
|||||Unlisted|
|---|---|---|---|---|
|||||investments|
|||||6|
|Cost or valuation|||||
|At 1 May 2022||||12,633|
|At 30 April 2023||||12,633|
|Impairment|||||
|Impairment
on revaluation||||12,633|
|At 30 April 2023||||12,633|
|Net book value|||||
|At 30April 2022||||12,633|
|||Investments|||
|||in|||
|||subsidiary|Unlisted||
|College||companies
2|investments
2|Total
2|
|Cost or valuation|||||
|At 1 May 2022||2|12,633|12,635|
|At 30 April 2023||2|12,633|12,635|
|Impairment|||||
|Impairment
on revaluation|||12,633|12,633|
|At 30 April 2023|||12,633|12,633|
|Net book value|||||
|At 30 April 2023|||||
|At30April 2022|||12,633|12,635|
|The historical cost of the unlisted|investments|was 212,633(2022 - 212,633k|||
##
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##
|Class of|Holding|
|---|---|
|shares||
|Ordinary|1 00'/|
|Name||||Income|Expenditure|Profit/(Loss)|Net assets|
|---|---|---|---|---|---|---|---|
|||||2|2|/ Surplus/|2|
|||||||(Deficit) for||
|||||||the year||
|||||||2||
|Harlaxton|Manor|Enterprises|Limited|525,320|468,495|56,825|21,543|
##
##
##
||||Group|Group|College|College|
|---|---|---|---|---|---|---|
||||2023
2|2022|2023
2|2022f|
|Consumables|||105,048|76,493|66,253|45,444|
|Debtors|||||||
||||Group|Group|College|College|
||||2023
2|2022f|2023
2|2022|
|Due within one year|||||||
|Trade debtors|||35,070|18,117|1,025|540|
|Amounts
owed by||group undertakings|||91,444|262,507|
|Due from University||of Evansville|1,923,500|1,025,695|1,923,500|1,025,695|
|Prepayments|and accrued income||260,258|67,173|258,643|e7,1ss|
|Other debtors||||49,003||49,003|
||||2,218,828|1,179,9ee|2,274,612|1,424,900|
##
##
|||Group
2023
2|Group
2022f|College
2023|College
2022f|
|---|---|---|---|---|---|
|Trade creditors||238,041|211,777|218,492|204,051|
|Other taxation and social security||42,465|50,407|20,736|21,887|
|Other creditors||3,608|4,612|3,608|4,612|
|Accruals and deferred|income|989,502|467,695|824,957|334,313|
|||1 273 616|734491|1)067793|564 SS3|
##
##
|||FO|R THE YEAR|ENDED 30 APRIL|2023|||
|---|---|---|---|---|---|---|---|
|||||Group
2023f|Group
2022f|College
2023
2|Co//ege
2022|
|Deferred|income at 1 May 2022|||372,864|47,676|308,702||
|Resources deferred||during the year||931,627|372864|760,409|308,702|
|Amounts|released|from previous|periods|(372,864)|(47,676)|(308,702)||
|||||931,627|372,864|760,409|308,702|
##
|Group|Group|
|---|---|
|2023|2022|
|2||
|19,792||
|||||Group
2023
2
|Group
2022|
|---|---|---|---|---|---|
||Accruals and deferred
income|||19,792||
|20.|Financial instruments|||||
|||Group
2023
2|Group
2022f|College
2023f|Co//ege
2022|
||Financial assets|||||
||Financial assets measured
at fair value
through
income and expenditure||12,633||12,633|
##
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##
|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
||||||Balance at 1|||30April|
||||||May 2022|Income|Expenditure|2023|
||||||2|9|2|2|
|Unrestricted||funds|||||||
|Harlaxton|College||||2,202,720|3,103,302|(3,056,897)|2,249,125|
|Hariaxton|Manor Enterprises|||Limited|21,543|525,320|(525,320)|21,543|
||||||2~224)263|3628622|(3~582)217)|2 270 668|
|Restricted funds|||||||||
|Preservation||ol Harlaxton|Manor|||154,010|(154,010)||
|Total of funds|||||2224 263|3782632|(3y736y227)|2270)668|
##
##
|Statement|of funds - prior yea|r|||||
|---|---|---|---|---|---|---|
|||Balance at|||Transfers|Balance at|
|||1 May 2021f|income
f|Expenditure
f|(clout 30April 2022
f
f||
|Unrestricted|funds||||||
|Harlaxton
College||2,520,277|1,699,330|(2, 177,798)|160,911|2202,720|
|Harlaxton
Manor Enterprises
Limited||21,543|414,746|(253,835)|(160,911)|21,543|
|||2,541,820|2,114,076|(2431,633)||2,224,263|
|Restricted|funds||||||
|Preservation|of Harlaxton||||||
|Manor||133,611|64,262|(197,873)|||
|Total of funds||2,675,431|2,178,338|(2629,506)||2224,263|
##
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##
|Summary
of funds - pri|or year|||||
|---|---|---|---|---|---|
||Balance at|||Transfers|Balance at|
||1 May 2021f|Income
f|Expenditure
f|inloul
f|30April 2022
f|
|General funds|2,541,820|2,114,076|(2431,633)||2,224,263|
|Restricted funds|133,611|64,262|(197,873)|||
||2,675,431|2 178,338|(2,629,506)||2,224,263|
||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2023f|2023f|
|Tangible|fixed|assets|111,440|111,440|
|Current|assets||3,452,636|3,452,636|
|Creditors|due|within one year|(1,273,616)|(1,273,616)|
|Creditors|due|in more than one year|(19,792)|(19,792)|
|Total|||2,270,668|2,270,668|
##
|||Unrestricted|Totai|
|---|---|---|---|
|||tunds|funds|
|||2022f|2022|
|Tangible|fixed assets|113,702|113,702|
|Fixed asset investments||12,633|12,633|
|Current|assets|2,832,419|2,832,419|
|Creditors|due within one year|(734,491)|(734,491)|
|Total||2,224,283|2,224,263|
##
|24.|Reconciliation
of net|movem|ent|in fun|ds to|net|cash flow|from|operating|activities||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Group|Group|
|||||||||||2023|2022|
|||||||||||2||
||Net
income/expenditure
Activities)|for|the|year|(as|per|Statement|of|Financial|46,405|(451,168)|
||Adjustments
for:|||||||||||
||Depreciation
charges|||||||||23,999|33,505|
||Interest received|||||||||(5,678)|(144)|
||Increase
in stocks|||||||||(26,555)|(33,586)|
||Increase
in debtors|||||||||(1,047,944)|(769,536)|
||Increase
in creditors|||||||||558,917|494,709|
||Net cash used in operating||activities|||||||(450,856)|(74S,220)|
|25.|Analysis of cash and|cash equivalents||||||||||
|||||||||||Group|Group|
|||||||||||2023
2|2022
f|
||Cash in hand|||||||||1,128,760|1,573,938|
||Total cash and cash|equivalents||||||||1,128,760|1573938|
|26.|Analysis ofchanges|in net|debt|||||||||
|||||||At 1 May||At 30 April|
|---|---|---|---|---|---|---|---|---|
|||||||2022|Cash flows|2023|
||||||||2|2|
|||||||2|||
|Cash|at|bank|and|in|hand|1,573,938|(445,178)|1,128,760|
|||||||1,573,938|(445,178)|1,128,760|
##
##
##