Oocuwgn EDvd0￿ Tr. A30ABC￿242fmAOtv9A￿768CcAF75C￿A Company registration No. 06799564 (England & Wales) Charity No. 1129180 Ascentis Company Limited by.Guarantee Trustees, Report and Consolidated Financial Statements For The Year Ended 31 July 2024 IIIIIN DTIIM75P¥ 03K1112025 CC•APANIES HOiISE A19 #120 ceniis Awarding Or£anisari(x) 114TER14ATIONAL DoJJslJn Envekpe ID.. A30A8CB&242NALK19A8&768CCAFP5t*)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) CONTENTS Page Charty reference and administrative details Trustees, annual re￿rt Independènt auditorfs report to the Membe Consolidate(I slalemenl of financial activibes lincorpordting Ihe income and expendilvre account) Charity statement of finan¢4al actiwtie5 {incy)rporating the income and expenditure a¢ts)unt) 12 13 Conslidated balance sheet 14 Charity balance sheet 15 Conslidaled and charsty cash llow ststements 16 Notes to the 8ccounts Docusvw Envdow ID.. A30A8CB>242D4A(m>9A￿?$8CC*F75DOA ASCENTIS (COMPANY LIMITED BY GUARANTEE) CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2024 Registered charlty name Chartty registration number 1129180 Company registration number 06799564 Principal office Ascentts House 3 Mannin Way Caton Road Lancaster Lancashire LA1 3SW The Trustees S Cartisle P C Wilkinson R Davies A Rushton J Robinson W Robinson M M¢Tague Chlof ex8cutive offlcer P C Wilkinson Secretary F Lugiano Auditor MHA 14 Mannin Way Lancaster Lancashire LA1 3SW Oocws¥3n Envew ID". AJ)A8C8>24204A01>9AW768CCAF75C• ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 The trustees have pleasure in presenting their report and Ihe financial statements of the group and charity for the year ended 31 July 2024. This report indudes the requirements ofa directors. report as required by wmpany law. The financial siatemenls comply with the Charitses Act 2011. the Companie5 Act 2006. Ihe Memorandum and Articles of Association, and Accounting and Reporting by Chariiies". Staternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. Ref8r•nc• and administrativ¢ details Reference and administrative details are shown ￿ page 2 of these finanual statements. Tha trustè•s The Iruslees who served the Charty during the per￿ were as follows: S Carlisle P C Wilkinson A Bolton {resigned 21 June 2024) R Davies P Rowe (resigned 15 March 20241 A Rushlon J Robinson W Robinson M McTague Structure. governan¢e and m¥nagement Ascentis is a Charitable company limtied by gu3rant8e 1067995641 incorporated on 23 January 2009 and register8d with the charity commission {1129180) on 19 Apftl 2009. The company was established under a memorandum of association which defines the 0￿.eCtS and powers of Ihe charitable company and is governed under its artides of associatK)n. In the event of ihe eompany being wound up. the members are ￿QuIred to contribute an amount not exceeding £1. Recrurfmanl and appoinlmont of new Iwsfees The Board of Trustees appoints new trustees up lo a minimum of 5 indNiduals. The Search and Governance Committee recommen¢Js candidales wth appropriate skills for CL)nsKJeralion lo the Board. The Iruslees determine the ￿Muneration of key management personnel. InduclK)n and training of new tnjstees New trustees meet the Group Chief Exeajtive Off￿r ICEO) an¢J Company Secretary and are introduced to the staff. The servKes prowded by Ascentis. and its objectNes and strategy are discussèd in dètsil. Th8 new trust88 is issuéd with an nformation pack containing the folk)wng'. Responsibiliiies of Charity trustees Merrorandum and Articles of AssocJ"ation Annual report and accounls Minutes of the last board meeting Year to date financial informal Schedule of Board meets.ngs Biographies of olher trustees User guide and aciivalion ac(xNJnt for OnBoard Docustqn En¥eW10.. A30PaC8&242D4AOlN9A￿7G@ccAF75fX)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT {CONTINUEDI FOR THE YEAR ENOED 31 JULY 2024 Organ￿[￿nal slnJ¢lure Every trustee must sign a Dedaration of Willingness to act as 8 Trustee of the Chariv before they are eligible to vote at any meeting of the trustees. The trustees must hold at least 2 meetings a year and they are responsible for rnaking slrategic decisions. All trustees who have signed the Twslee of the Charity, dedaration have one vote on each issue at these meetings. Each issue may be detemiined by a sirn￿e majority of votes Cast. with the Chairman having 8 second or c8Sting a vote rf necessary. The day to day runnirkg of the charity is delegated lo the Grwp CEO. who meets fomwlly wth his executive leam on a regular basis. Relaledparties All related paty transactions entered into in the year are disdosed in the noles to the accounts. There are no significant relationships with any other charities or organisations. ex￿pt lo its own subsidiaries. Alms, objeclives and activitbes. The objects of Ascenlis a￿ lo promote and advance education and traiThng of young persons ènd adulls. To achieve these objects. we aim to maintain and improve our portfol￿ of educational qualifications and make them accessible to 8 wider range of client groups. In thi% way, we Can help young peoplè and adults develop knowledge and acqui￿ new skills and have this formally re¢ognised in the form of nationally or Intemalionally recognised qualrfications. We also support pupils in primary and Se￿￿ry schools through Cmjr dyslexia, dyscalculia and rnental health and well-being inteNentson sofN¥are. We feview our aims and activities each year. This review k*)ks at.. what has been achieved. the outcomes of our work in the previous 12 months, and the S￿￿eSS of our activities in delivering benefits to those w8 were sel up lo help. This review also helps to ensure that our aims and activilies rern8in focused on our stated objectives and purpose. We have referred to the guidance contained in the Charity Commission's general guidance on public bonefit when reviewing our aims and in planning our fulure activities. In particular. we. the trustees. have conshlered how the planned actwits.es will contribute lo the aims that we have set. All our charitable activities focus on the promotion ar￿ advancernenl of educats.on and training and are undertaken to further our charitable purposes for the public benefit_ The main objectives and actsvities for the year were". to rationalise Ihe qualification producl portfolio so as to focus on our areas of strengths and to make those products accessible to a wider client group across the UK and overseas,. to expand our dyslexia. dwlculia and mentsl health sofh¥are provision lo schools across UK and overseas, in particular. the UAE- to provKJe the optimal level of support lo oui dients. to strengthen our stsffing and infrastructure with approwate investrnent." to maintsin strong financial health., to keep our stsff safe and well and to protect the charity as far as possible against the impact of hvJh inflation. Ascenlis ensures that every OFWtunity is taken to promote its. work by maintaining a website, hosting events in locations a¢ross the UK and overseas. and divetse advertising. such as through e-mail campaigns_ The Trustees are pleased the tharitws prc¥Jress against the ofy'ectives and in p3rb"cular, recognise thg very reasonable financial perform8n¢e despite the signfficant impact of the cost-of-ltwng crisis. Group incorne increased very significantty over the previous year and the modest operating defiat was broadly In line with the target. DooJsign EnveWJpe10.. A30A8CB>242LHA(#>9A8&768CCAF75CQA ASCENTIS {COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT ICONTINVED) FOR THE YEAR ENDEO 31 JULY 2024 STRATEGIC REPORT Achlevements and perforniance This is Ascentis. rrfteenth year of operation since the transfer of activit￿ and assets from the Open College of the North West on 1 August 2009. We further revrewed the product portfolio and revised it lo rKovi¢Je a dear fcws on our areas of strength ¢Juring the year. As part of Ihis, we expanded the markets for the key Ascentis qualrfication products and our dyslexia, dyscalculia and mental health intervention software services across the UK and overseas. In order to improve effectiveness. we invested appropriately in our staffing base and IT infrastructure. This sound staffing and IT infrastructure h8ve enabled us to delNer our ststed objectives effectively. All of these actions increased the organisation's ability to conb.nue to wosper Y￿1ft an exceptionally challenging business environment for the charity and educatton sectors. Financial review Resetves polw We have examined the requIren￿n{S for reserves in light of the main risks to the organisation and have established a policy whereby the free reserves Inol induding those in use funding the tangible fixed assets held by the charity or those designated for other purposes) should be betsveen 4 and 9 rnonlhs of normal charitable expenditure. The budgeted charitable expendilure in 202412025 is approximately £7m and therefore, the largel reserves are be￿een £2.3m and £5.2rn. The reserves function as an imp)rtant w)tenlial financial buffer during this period against turbulence in the planning environment. Thi8 iurbulence ￿preSents a constant ¢hallen9e to the charity and the Injstees, therefore, believe that il is imrM)rtant to maintain ￿sErveS at a reasonable level. Tolal consolidated funds hekl at 31 Juty 2024 were £6m. After allo￿ng for funds that can only be realised on disposal of a fixed asseis1£2ml. remaining free reserves are £4m. which remains in line wth the above policy. The ch8rity has no restricted funds. We continue to maintain a designated fvnd tr) meet the Costs ol any potential fvture uninsured liabilities that may arise from the TUPE (Transfef of Undertskings Prot8cJion of Employment) regulations. following the transfer of the activities of the former Open College of Ihe Northwest into As￿ntiS in 2009. The balance designated represents the maximum esbmated potential liabilty. wfvch will be recalculated annthilly and should redu￿ over time. Principal funding sources The principal sourctr of income is from the registration and certification of candidates on qualifications developed and accredited by the charity and the sale of assouated leaming materials and also dyslexia, dyscalculia and mental health intervention sofftva￿ support service. The expenditure of the ¢h8rity on qualification and intervention sofvlare development. moderatson and quality c4Jnlrol and ¢enlie recognition all ensure that the qualrfications and services offered provide the required beneffts to those a￿sSing them. Plans for futur• ptriod$. The period since the inception of the charity has tthn exlremety SUCLessful V￿th signifi¢ant overall gro%￿h. as we have reached out to a broader client base_ Changes in Govemment policy in recEnt years relating lo the funding available for 8duc3tKJn31 qualifications represent a sMJnificant challenge for the tharity, but as a result of an effective plan skilfully implemenlet1 by committed staff. the charity achseved impressive further growth in tumover in the year despite the significant impaci of the cost-of-lmng crtsis and restricted the operating deficit to a modest figu￿ despite significant in-year investment. Ootxjs￿n Envekipe 10.. A3OA8ce&242NAc#>9￿0-76OCCAF1s ASCENTIS (COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANMUAL REPORT {CONTINUEO) FOR THE YEAR ENDED 31 JULY 2024 The Government policy changes will continue to ￿present a challenge lo the charity and in the medium term. the target will be to mainiain stsbility and continue to svpwrt our dients while achievin9 further steady growth. The impact of negative funding polw will be mitigated by further grovth ofqualffications not in scope of funding policy reviews and growth of the subsbdtary, IDLS. The charity has approved a realisiic but challenging sel of tsrgets in its strategic plan. This commits Ihe charity to an aspiration for achieving steady growlh and to improving all aspects of its activity over the 5-year period to 2029. Progress towards this vision will be achieved by develoFMng and mainiaining a high-quality portfolio of exlernally regulaled qualifications and asso¢iatetJ leaming materials, expanding Ihe dient base across the UK and overseas and pioviding schools. colleges. and employers with the opbmum level of customer support. Simultaneously, the Dyslexia. Dyscalculia and Mental Heallh InlerventKJn Support service delivered through the wholly owned subsit4iary company IOLS Ltd, wll be expanded to all reg>ons of Ihe UK and lo speo.fic overseas rnarkels and new oducls will be developed for launch in the USA from Augusl 2025. whe￿ appropriate, Ascentis will seek to achieve grovAh through the acqursits.on of smaller companw where such acquisth"t)ns are judged to represent a sound investment for the charity- Any sU￿lUse$ generated will be reinvested in staffing and the (*ganisa￿n's infrastructure so Ihal the level of resourcing is always sufficient to deliver a g(MyJ sermce. The corporate objecttves for Ihe 2024-25 year are as follows.. 1. Financial Heafth.. Achievement of signif￿ant growth in income and a break-even position, before any fijture-proofing investments. 2. Product Development-. Development and maintenance of a qualifications portfolio ar￿ supporting learning m8terials that are aligned with Govemment policy. focused on our proven strengths, and that meet the needs of local. regional. naiional. and intemats"on81 stakeholders. 3. Intervention Sofhvare support service: Expansion of dyslexia, dyscal¢uli8. and wellbeing products across the UK and overseas, delivere(1 thrLxJgh the sub&"diary. IDLS Ltd. and development of specific prcKlucts for the US market. 4. Govemance.. Compliance %wth cornpan￿ House and Charity Commission reqviren*nls. 5. Regulat¢Ny Compliance and Quah'ty Assurance.. Maintenance of reg￿atory approval by Ofqual, Qualrfication Wales, CCEA arKI Ihe Quality Assurance Agency for Higher Educalion. 6. People and Culture." Effective Human Resourrm Str[￿t￿re support8d by rigorous perfcmiance management and targeted staff development. 7. Systems and Physical Infrastructure: Effective maintenance and development of systems, IT and accommodation. Prlnclpal rlsks and uncertainties Risk management The major risks to which the charity is exposed are reviewed and set out in the Business Continuity Plan, together with the systems established to mitigate those risks. Cu￿ently. the most signrficanl medium-term risk is considered lo be the impact of changing government policy in relation to Ihe funding of qualifications. An additional more recent risk relates to the reuuitment and ￿tentIOn of staff. with the charity having to compete wlh larger companEs offering increased salaries and the option for homeworking. Currentty. all risks are being successfully manaoed. DrAW&O Enve*pÈ10.. AJ0A8CB3.242fHA(N>9￿￿768CCAFI5[ ASCENTIS {COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 ResF)onsibilities of the trustees The trustees (who are also the ¢J1￿ctr￿S of A￿nI1$ for the purposes of company lawl are responsible for preparing the Trustees Annual Re￿t and the finanual ststements in accnrdance with applicable law and regulalions. Company law requires the trustees to prepare financial ststements for eath financial year. Under that law Ihe inJstees have elected lo prepare the finan¢k31 statements in accordan￿ with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Stsndards and applicable lawl. Under company law the trustees must not approve the financial sfatements unless they are satisfied that they give a tnje and fair view of the st3te of affairs of the charitable company arKJ the group and the incL)me ¥rKI expenditure of the eharit8ble company for that period. In preparing thgse financial statements. the trustees are required to.. select suitable accounting policies and Ihen apply them consistenuy obseNe the methods and principles in Ihe Charilies Slatement of Recommended Practice ISORPI make judgements aThJ ac￿￿nting estimates that are reasonab￿ an¢J prudent state whether appliCa￿e UK Accounting stsr￿ard$ have been followed. subj'ecl to any material departures disclosed and explained in the ffinanual slatements ep8re the fin8nual statements on the going corw basis unless it is inappropnate lo presume.that the group wll continue in operation The tnJstees are responsible for keeping adequate accounting records that are sufficienl to show and explain the charitable company's and group's Iransactions and disdose *Mth ￿asonable accuracy at any time the financial position of the group and enable them to ensu￿ that the financial slalements comply with the Companies Act 2006. They a￿ also responsible for safeguarding the assets of the group and hencè for taking r88sonable steps for the prevention and detection of traud and other irregularithes. Auditor Followng the merger of MHA MO0￿ and Smalley and MHA. the company's independent 8udilor has now become MHA. MHA have indicated their willingness to be reapw.nted as ststut¢)ry au¢rtors. Each of the persons who is a trustee at the date of approval of this report confirnis that.. So f8r as they are aware there is no relevant audit information of which the group's avditor is unaware., and each trustee has taken all sleps that Ihey ought to have laken as a trustee to make themselves aware of any relevant audit infom)ation arK1 to establish that the gr(yJp's al￿￿Or is aware of that infomation. Approval y approving the truslees report ihe trustees are also at)proving the strategic report in thèir capacity 8$ company irectors. Signed on behalf of the trustèes Mr P C Wilkinson Trustèe December 18. 2024 DoCu8￿n Envelope ID.. A30A8CB>242D4AOW￿768CcAF75DoA ASCENTIS (COMPANY LIMITED BY GUARANTEE) INDEPENDENT Au0￿OR's REPORTTO THE MEMBERS OF ASCENTIS FOR THE YEAR ENOED 31 JULY 2024 Opinion We have audited the financial statements of Ascenlis (the 'parent charitable company'l and rts subsidiaries Ithe 'group'l for the year ended 31 July 2024 which Comprise Consolidated Stslement of Financial ActNity, Charty Statement of Finanual Activity, Consolidated Balance Sheet, Chaty Balan￿ Sheet. Consolidated and Charity Cash Flow Statements 8nd notes to the fin8n¢i81 statements. irKluding a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. induding Financial Reporting Stsndard 102 The Finan081 Reporting Stsndard applicable in the UK and Republic of I￿land (United Kingdom Generally A¢¢epled ACC￿nting Practicel. In our Opinic￿ the financial ststements: give a true and fair view of the stste ofthe group's and parent charitable company's affairs as 8t 31 July 2024, and of the group's in￿ming resources and application of re￿yJTee$. Including rts Income and expenditure. for the year then ended.. have been property prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Acl 2006 and the Charities Act 2011. Ba$1$ for opinlon We conducted otjr atjdit in accordance Int¢mational Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibililies under those siandards a￿ further ¢Jescribed in the Auditows responsibilities for Ihe audit of the financial statemenis section of our rewrt. We are independent of the group and parent chartiable company in accordance with the ethical requirements that are relevant to our audrt of the financial sialements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requ1￿mentS. We beI￿ve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our O￿nion. Concluslons relating to going concern In auditing the financial statements. we have concluded that the trustees. use of the going concern basis of accounting in the weparation of the financial slatements is appropriate. Based on the work we have performed. we have nol identified any material uncertainties relating to events or conditions that, individually or collectively. may cast sMJnificant doubt on the group's or parent charitable company's ability to continue as a going torKem for a peric¥J of at least twefve months from when Ihe financial statements are authorised for issue. Our responsibilities and the responsibilibes of the trustees respect to going con￿rn are described in the relevant sections of this report. D0￿S￿Jn Envekpe ID.. ￿A8¢8&242O4A(1>9￿768cCAF?5tK ASCENTIS (COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASCENTIS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 (Xher information The other information comprises the information ir￿uded in the trustees, annual reFrt)rt. other than the financial statements and our auditorfs report ther￿n_ Our opinion on the financial statements d￿S nol cover the other information arKI. excepl to the extent ott)erwise explicitly stated in our report. we do not express any fomi of assurance conclusion therec￿. Chjr r8spMsibilty is to read the other information and, in dov)g so, consider whether the other information is materially inconsistent with the financyal slatemenls or our know￿¢Yge obtained in the course of the audit or otherwise appears to be materially misstsie¢J. If we identfy suth material incA)nsistències or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial stslemenls themselves. If. based on the work we have perfOrn￿d. we wndude that there is a material misstatement of this other infofmation. we are required lo report that fact. We have nothing to repcfft in this regard. Opinions on other matters pres¢rlb•d by th¢ Companies Act 2006 In our opin￿n, based on the work undertaken in the rArse of the audrt.. the information given in the Iruslees, report. {incorporating the strategic report and the directors, report) for the finanu81 year for which the financial stslements are prepared is consisient wslh the financial Stslements.. and the trustees, rep)rt has been prepared in acc￿dance applicable legal requirements. In the light of our knowfedge and understsndrng ol the group and parent charitable company and ils environrnent obtained in the course of the audrt, we have not KlentFfied material misstatements in the trustees, report. Matters on which we are required to report by •x¢eption We have nothing to report in respect of the followiNJ matters in rela1h￿ to which the Companies Act 2006 and the Charities Act 2011 requires us to report to ycwj if. in our opinion.. adequate and sufficient accounting records have not been kept by the pa￿nt tharitable company, or returns adequate for ¢JJr audit have not been received from branches not visited by us- or the parent tharitable company's financ4al slatements are nol in agreement with the ac￿￿nting records and retums: or certain disdosures of tru%lees' remuneration specif*d by law are nol mad8: or we have not ￿ceiVed all the inf0m￿li0n and explanatio￿% we require for our audit. Dca￿(gn Env¢lopo ID." A30A8CB3.24204Ac242D4A￿9A￿768CcAF7srYJ￿ ASCENTIS (COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASCENTIS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Auditorfs r¢$ponslblliti•s for the audlt of th¢ financial statements {contlnuedl A further description of our responSi￿lItIeS is available on the Financial Reporting Council's website at.. htt S'./1¥￿￿.frC.¢ kl udilorslaudit- ssuran lauditor-s-res nsibilit￿S-fOr-Ihe-a￿dlt-of-ihe-r1I escri on- Ihe-auditoPAE2¥080%99s-res onsibilities-for. Th¢$ des¢yiption ft*ms part of our auditor's report. Usè of our raport This report is made solely lo the charitable companrfs members. as a bc*Jy. in accordance wrth Chapter 3 of Part 16 of the Cornp8nies Act 2006 and to Ihe charitsble comp8nYs trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's rnernbers and ils trustees those matters we are required to state to them in an audrtor's report and for rKJ Oiher purpose. To the fullest extenl permitted by law. we do Th)t accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as 8 body, ar￿ the charitable company's trustees as a body. for our audit work. for this report. or for the opinions we have formed. Jenny Mccabe FCA (Senior Statutory Auditor) for and on behalf of MHA. Ststutory ALKlit L8neaster, United Kingdom Oecember 20, 2024 hrtHA is the trading nam8 of Maclntyre Hudsm LLP, a limried liabilty partnership in England and Wales {registered number OC3123131 DtscusBJn Envelcpe ID.. A30A8C8&242D4AfyJ.9A￿168ccAFlScIjA ASCENTIS (COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTivmES {INCORPORATING ThE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024 Unreslricted fte￿ri￿ed Totsl funds funds funds 2024 Tobl funds 2023 Inconw from: Chari12bie actiI4ties 6.727.131 68,252 6,727.131 68.252 5,842,939 40.119 Total 6.795.383 6.795.383 5,884,016 Expenditure on: CharitatrAe ael"Mth"es 6.861,534 6.861.534 6,167,438 Total 6.861.534 6.861.534 6.167.438 Net {expenditureifincorne (66.1511 166.151 {283.4221 Transfers be*n funds Net moveTrnt in funds I￿151) 166.151 {283.422 R•¢¢n¢iliation of lunds: Totsl funds troLtht foNard &051,638 6,051.638 6,335,060 Total funds Carr￿ forward 5,985.487 S.98S487 6.051.638 The SL8tement of Financtal Activities indudes all re￿nised gains and losses in the year. l of the atr*)ve amcMJnls ￿late to continuing acbvities. The statement of financial activities also complies wih the requirements for an In￿Me and expenditure account under the Companies Act 2006. The notes on pages 17 to 34 form part of these financial statements. -12- D￿51￿ Env*Jpe ID." A3oAecB3.242NAC￿9P￿&768CCAF7￿w3A ASCENTIS {COMPANY LIMITED BY GUARANTEE) CHARITY STATEMENT OF FINANCIAL ACTIVITIES IINCORPOKATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024 Unrestri¢t•d Reslricled Total funds lunds funds 2024 Total funds 2023 ome from: CharitstAe ￿tilltieS 5.143.720 68,252 18,160 5.143.720 68.252 18.160 4.710.144 40,119 24.169 (Iher Total &230.132 5.230.132 4.774.432 Expenditure on: Charit2bk actimties $427,9)4 5,427,904 4.￿5.876 Total 4427.904 5,427.904 4.9)5.876 Net {expenditure)finc¢yne 1197.T121 (197.T12) {131,4441 Trar6fers funds Nel movenwrt in funds 1197.T12) (197.T12} {131,4441 Reconciliati¢)n of funds: To121 funds brought fo￿rd 6,311.763 6.311.763 6.443.207 Total funds carried forward 113.991 6,113,991 6.311.763 The Statement of Finanual Actiwties indudes all recognised gains and losses in the year. l of the a￿ve amounts relate to continuing actNities. The slalemenl of fin8n¢ial activities also r￿mplIeS with the ￿qUirements for an income and expenditure 8¢ccwnt under the Companies Act 2CM)6. The notes Lx) pages 17 to 34 part of these financial statements. Oowggn Ertvelry)e ID.. A30Aec83.242LY4AO>9A88-768CCAF75rLI ASCENTIS (COMPANY LIMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2024 2024 Flxed assets Tangib￿ asse18 Intangible assets 10 11 1.147.097 820.154 1.321.105 595.411 1.967.251 1.916.516 Current assets Debtors Cash at bank and in h8r*J 12 547.599 4.263.748 3.844,801 4731694 4.811.347 Creditors: arTrx#Ns faling due Y+ittsn oney 14 1714458} {676.225} Net current assets 4,018.236 4.135.122 Total assets less ¢urrent Ilabilitwes 5.985.487 6.051.638 Provisions f¢r liabiliti8S Net assets S98&487 6.051,638 Funds". Unrestricted funds 16 5.98&487 6.051.638 Total funds 5.981487 6.051,638 These accounts were approved by the members of the committee and aulh0ri5ed for issue on the -an are signe(l on their behalf by: Mr P C Wilkinson Trustee Company Reglslration Number. 06799564 The notes on pages 17 to 34 ftym part of these finanual ststements. -14- DoeAJ*on En¥eW ID.. K3oA8c8&242￿A(*>9IO8-768ccAF75t1)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) CHARITY BALANCE SHEET AS AT 31 JULY 2024 2024 2023 Fixed assots . Tangible assets IntarKJible assets 10 11 1.140,685 693.982 1,321.105 461.694 1.834.667 1.782,799 Current assets Debtors Inlestrnents Cash at bank and in hand 12 13 1.182,428 7.183 3.TT4548 4,220.333 4955,978 5.187.518 Creditors: al￿￿nts fah)ThJ due ￿1th1n cfie year 14 (676.654) (658,5541 Net current assets 4.279,324 4.528. Total assets less cwrent liabilities 6.113.991 6,311,763 Provisions for liatiKrties Net assets 6.113.991 6,311,763 Funds: Lknrestricted furKts 16 113.991 6.311,763 Total fvnds 113.991 6,311,763 These accounts were approved by the members of the ￿mittee and authorised for issue on December 18, 20 an are signed on their beh81f by". Mr P C Wlklnson Trustee Company Registration Number: 06799564 The notes on pages 17 to 34 fcvm part of these financial statements. -1& Do¢￿%￿dn Envthpe ID.. A30A8CB3-242rMA￿9A￿76fiCeAF7stxM ASCENTIS (COMPANY LIMITED BY GUARANTEE) CONSOLIDATED AND CHARITY CASH FLOW STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Group 2024 Total &cA 2023 To Charity 2024 Total Charity 2023 Totsl Cash {usedllgenerated in operat￿9 actlvities {￿,352) (77,620) {151.7351 (202.167) Cashflows from Investlng actlvltles In￿t￿￿t I￿orr Purchase of tsngitAe fiy£d assets Purchase of intangitAe fiy£d assets 68.252 40.119 68,252 40.119 (66,784) 195.3241 (60,372) 195,324) (329.063) 1446.2471 (301930) (315.2501 Cash used in investing activities {327,5951 (501.452) {295.0501 1370.4551 IDecrease)lincrease in cash and cas equivalents in the year (41&94n 1579.0721 {446,7851 1572,622) Cash and cash eqUi￿ts brought f(wd 4.263.748 4.842,820 4.220.333 4.792.955 Cash and cash equivaknts rarried for&vard 3.844.801 4.263.748 3,n3,548 4.220,333 Reconciliation of net Th￿¢ment in fvnds to net Cashfkw from ¢Jperating activities Net n￿Tr￿n1 in funds In￿tr￿n1 Incon￿ receiled Depreciab"on and arrnrtisatiL (Increaselldecrease tn debt￿S Increasel{decrease} in crediti￿S Loss on disFK6al of fiyEd assets 166,151} {283,4221 1197,TT21 {131.4441 168.2521- {40.1191 168,252) 140.1191 324,475 311.434 295.595 (69,2111 {215.2451 {335.5811 (9.343) 18,100 9.382 {340.2941 233 Net Cash {usedllgenerated in operating activities {￿.352) (77.620) {151,735) 1202,1671 Conwinents of cash and tash equlvalents Cash at bank and in hand 3.844.801 4.263.748 ITII548 4,220,333 3.844.801 4,263,748 ITT1548 4.220.333 The notes on pages 17 to 34 fom part of these financial stalemenls. -1 0￿19n Envelope ID." A30A8CB>242NA(X)-9A88-768ccAF75CM)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accountlng policies Legal fomi Ascents's is a regkstered charity and a limited company. limited by guaranlee. as 4efineé by the Companies Act 2006, incorporated in England and Wales. In Ihe event of the charity being w¢JJnd up. the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office of the charity, the nature of its oper8ts)ns and its principal activities are all detailed in the charity administrative details of these finanaal statements. Basis of preparation Ascentis meets the definition of a PLthlic benefft entsty ur)der FRS102. The ffinancial statements have been prepared in a￿OrdanCe wth Accounting and Reporting by Charities." Staternent of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Repo￿"ng Stan¢Jar¢J applicable In the UK and Republic of Ireland IFRS1021- Icharibes SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Reput4ic of Ireland IFRS 102). the Charities Act 2011 and the Companies Act 2006. The financial statements are prepared in sterling. which is the fvnctional currency of Ihe charity- hAonel8ry amounts are rounded to the nearest £. The financial statements have been prepared on a going concern basis under the historical cosl convention. The P8rtieul8r accounting pdicies adopted by the tnjstees are described below. These policies have been consistently applied to all years p￿sertted unless otherwise staled. The consolidated acwunts of the group in¢orporate the acwnts of Ascentis 1.the Charity.) and its wholly owned subsidiaries Intemational Dyslexia Learning SolutKJns Limited and VirbJal Academy Ltd. The results of Ihe subsidiaries are con501idated on a line by line basis. Pr•paratlon of thè accounts on a goln9 eon¢em basis The trustees ass8ss whether the use of going ￿nCern ts appropriate i.e whether there are any matarial uncertainties related to events or conditions that may cast ggnificant doubt on the ability of the charty to conlinue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of aulhorisation for issue of the financial statements and have concluded that the charity has adequate resources lo continue in operats.onal existence for the foresee8ble fuiure and there are no material uncertaint￿$ about the charity's ability to continue 3$ a going conc8m, thijs they continue ￿ adopt the going concern basis of accounting in preparing the finanoal statements. Income Reg*strat￿n and certification fees are recognised over the perM)d to whth they relate. Whefe course registration income spans the financial year end, the Charity has a of deferring 213rds of such income to Ihe point of certification, where the Charity incurs the costs of MI￿￿eratIon. IDLS Learning in¢ome represents amounts receivable for services net of VAT and trade discounts. Tumover from the sale or renewal of litera¢y and numeracy licences is recLvJnised on purchase by the customer on the basis that there ts no recourse of such income armj Ihe risks and rewards have transferred lo the tryJyer. VAL int￿me represents amounts recwvable for s8M¢es net ofVAT and trade discounts. Tumover from the sale of training courstss is recognised on the date of course delivery to the customer on the basis that there is no recoursè of such income and the risks and rewards have transferred to the buyer. Investment income is credrtad to the statement of finanaal actsVIt￿ in the period in which it becomes re￿1Vable. -17- Enth*¢ ID". A30A8C8&242cHA￿9￿76dccAF7s[X)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 A¢¢ounting polldes {¢¢ntlnued) Other grants receivable represent In￿Me from trading grants and other grants. A grant that specrfies perfomance conLlitrons is recognised in income v•hen the perfomiance conditions are met. Where a grant does not specify perfom)ance conditions it is recogntsed in income when the proceeds are received or receivable. A grant ￿ceiVed before the recognitson ￿lteria a￿ satisfied is re￿nIse(j as a liability. Expenditure l expenditure is accounted for on an accruals bas¢s in the expense Calegories required by the SORP. Expenditure is recognTrsed where there is a legal or constructive obligalM)n to make payments to third parties. il is probable that the settlement will be ￿qUired and the amount of the obligation can be measured reliably. Costs are further allocated between the ac11wl￿S undertaken on a basis C￿sistenI wilh the use of the resources. Expenditure indudes irrecoverable VAT. Charitable expenditure indudes costs incurred in the delivery of the charities activities and services. It includes both dIr￿t costs. induding staff costs. thal are inCu￿ed in the delivery of the activities and services and indirect costs which are required 10 SUPPOrt the delivery of the chantable objects. Costs of raising funds indude Ihose costs in relatic￿ lo the chari￿s operations whith are used lo generate further income which is integral to the charity in meeting its charitable objectives. whe￿ support costs cannot be dirÈ¢Uy attributed to particular headings they have been allo¢ate(J to cost of raising fvnds and expenditure on charitsble activities on a basis consislenl wth LEse of the resources. Fixed assets All fixed assets are inrtialty recorded at cost. Depreaatr"on is provided at rates calculated to write off the cost of fixed assets. less their residual value. over their expecled usefvl INes on the following bases.. Office equipment Fixtures and fittings Motor vehicles Property improvernents 3 10 5 years 5 10 7 year5 3 years 5t0 15years Amortisation Amortisalion is calculaled so as to wnite off the cost of Ihe asset, less ils estimate residual value. over the useful economic life of that asset once brought into use as follows". Website costs Development costs Intellectual property 3 years 3 to 5 years 10 years Investments Investments are recognised initialty at fair value which is n¢Jrnialty the transaction price excluding Ir8ns8Ction costs. Investments are subsequenlly ststed at fair value if the sha￿$ are publicly traded or their fair value can Othe￿iSE be measured reliably. Other investments, such as the investrnenl in the subsidiary. are measu￿￿ al cost less impaimient. The SOFA induded the net gains and losses arising CM) ￿ValUa￿OnS and disposals throughout the year. Cash and cash equivalents Cash balancEs ￿present cash in hand and dep05tls held at banks and building soKieties_ -1& Do¢u$wn Env¢*)pe ID.. A30A8C8>242tHAW-gA8&768CCAF75DOA ASCENTIS (COMPANY LIMITED BY GUARANTEE) MOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounting policies {¢ontinued) Debtors and creditors within one year Debtors and creditors wth stated interesl rale and receNable and payable ￿thIn one year are recorded at transaction price. Any losses arising from impairmenl are recognised in expenditure. Fund accountlng Unrestricted funds General funds are available ts use at the discretion ol the Trustees in furtherance of the general objectives of the t*arily. Restncted funds Reslricled funds arise where the￿ is a donor-imposed reStrict￿n on the use of the funds, or Ihe funds have arisen in respons$ to an appeal for a specified purpos8. The Charity currently has no restricted fund5. Operating lease agreements Rentals applicable to operating leases where substanlially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the ￿aSe. Penslons As¢entis operates a defined contrtbution pensk)n scheme for employees of the group. The assets of the scheme are held separately from those of the charity. The annual Contributions payable are Charged to the statement of ffinancial actwities. Redundan¢y ¢ost$ Redundancy costs are expensed vthen thè liabilty payment of such Costs is incurred. Ta￿tIOn HM Revenue & Customs considers Ascentis to be a charity and therefore they are entitled lo exemption from tsx affordeé by Sections 478489 of the Corporat￿n Taxes Act 2010 to the extent that income is applied exclusively for tharrtable purposes. Foreign currencies Assets and liabil.lies in foreign currencies are Iran51ated into steding at the rates of exchange ruling at the balar￿e sheet date. Transa¢tions in foretqn C￿￿enCieS are translated into sterling al Ihe rale of exchange ruling at the date of transaction. Exchange drfferences are taken into account in arriving 81 the operating proTIl. -1 Dowsign Envo1(4)e ID.. AJJA8CB3-242NA01>9A88-768CCAF75t* ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Accounting poli¢ies {continued) Flnancial instwments The Charity has elected to appty the provisions of secb.on 11 '8asic Finanual Instruments, and Section 12 '01her Financial Instnjments Issues. of FRS 102 to all of its finanLaal instruments. Financial instruments are recognised in the Charity's ba￿nce sl)eet when the Charity becomes party lo conlr8clual provistons of the insinjment. Financial assets and liabilities are offset. with the net amounts presenled in the financial statements. when there is a legally enforceable right to offsel the ￿cOgnised amtyJnts and there is an intenb.on to settle a nel basis or lo realise Ihe asset and settle the liability simultaneously. 88sic financial assels Basic financial assets, which include deblors and cash and bank b818nces, are inf(ially measured al transactton price including transaction costs and are subsequently carried al amortise¢J cost using the effective interest method unless the arrangement conslitutes a financing transaction. where the transaction is meaSU￿d al the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Trade debtors an(1 other receNables that have fixed or detemiinable payments that a￿ not quoted in an active market are classified as 'loans and receivables.. Loans arxl ￿ceivab￿S are measured at amortised cost using the effective interest method. less any impairment. Impainnent of ￿nanCIal assels Financial assets are assessed indicators of impairment at each reporting end date. Financial assets are impaired where there is oLI"ective evidence Ihat. as a result ofone or more events that occurred after the initial recognition of the finanual asset, the estimaled futu￿ cash fiows have been affected. If 8n asset is impaired. the impairTnent105S IS the drfference between the carying amounl and the present value of the eslimale(S cash flows discounted at the assel's ￿ginal effe(ttive inlerest rate. The impairment loss is recognised in the statement of comprehensive income. If there is a decrease in the impaimienl loss arising from an event ocnjrring after the impairmenl was rec(pJnised, the impairment IS reverse(1. The reversal is such that the current earrying amount ¢Joes not exceed what the carrying amount would have been. had the impaim)enl not previously been recognise(J. The impairment reversal is recognised in the statement of c¥Jmprehensive income. De-￿COgnition offin8nci8la$sets Financial assets are dereeognised only when Ihe contraetual righls to the cash flows from tt)e asset expire or are settled, or when the company transfers the finanryal asset and subslantially all the risks and rewards of ownership to another entity. or if some svJnificanl risks and rewards of ownership are retained but control of the asset has tranSfer￿d to another paty that is able to sell the asset in its entirety lo an unrelated third party. Classif￿atIon of financial l￿bIlitIeS Financial liabilities are dassffj￿ according to the substano of the eLJntraclual arrangements entered into. DO￿￿9n EnvdoFe ID.. A3OA8C83.24204Afy).9￿76eCcAF75D0A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 A¢counting policies {¢ontinued) 80sic financ￿1 liabilit￿S Basic ffinancjal liabilities, induding Credit￿, are initi81ty recognised at transaction price unless the arrangement constitutes a financing tr8nsa¢tion. where thedebt instrument is measured at Ihe present value of the future receipts discounted at a marf(et rate of interest. Financial liabilities dassifieLI 8$ Pay8ble wthin one year are nol am￿liSed. Debl inslruments are subsequently carried at amorti%e(I cost. Ustng the effetaive Intere￿ rate meth¢>J. Trade creditors a￿ obligations to pay for goods or service5 that have been acquired in the ordinary course of business from suppliers. Am¢iJnis payable are dassrfied as ¢urrent liabililies rf payment is due wthin one ye8r or loss. If not. they are presented as non-current liabiltties_ Trade ¢redit(V5 a￿ recognised initially at transaction price and subsequently measu￿￿ at amortise11 cost Ljsing the effective interest meth(xJ. L￿recOgni1￿n of financ￿1 l￿bilit￿S Financi81 liabilits.es are dere￿nISed vknen the t￿MpanY'S contradual ￿•gationS expire or are discharged or canceued. Judgeménts and kèy stwr¢•s of estlmation unc•rtalnty In the application of the Charity's accounting policies. Ihe trustees are required to make judgements. estimates and assumptions about the ¢8rying amouMS of assets and liabililies Ihat are not readily apparent from olher sources. The estirnales and asso¢ialed assumpt￿n$ are based on hislorical experien￿ and other factors Ihat are considefed lo be relevant. Actual ￿$￿Its may differ from these estsmales. The estimates and underlying assumptions a￿ reviewe{1 on an ongoing basis. Re￿$￿)n$ lo a¢¢ounting estimates are recognised in the penod in which the esb.mate is rewsed Whe￿ the revision affects only that period. or in thè period ol the rewsion and lutvre periods where the revffdion affects both Current and fvture periods. Key assumptions. ludg•mènts and •$timal•s Income recognition As ststed in the accounting polictes c*) page 17, the Charity has a pc4Ky of deferring income forcourse registrations which span the yearend until the point ofc£rtifi¢ation where Ihe charity in(>Jrs the costs of moder8b"on. The Trustees have detemiined that it is appropriate lo defer 213rds of income for course wislralion fees to this date on the basis that the charity incurs most of ils fAJsts al this point in lime. The Trustees have also determined that turnover from the sale or renewal of literacy and numeracy licences is recognised on purchase by the cust￿er on U)e basis ihat there is no recourse of such income and the risks and rewards have transferred lo the buyer. The Trustees review Ihese assumplions fy) an orYJoing basis. and they have been ￿nSIstentIY applied in 811 periods. There have been no other key assumplK)ns concerning fvture and other key sources of estimation uncertainty at the reporting dale that have a signtficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next finanaal year. -21- Docusign Envelopa ID.. A30A8CB3.242D4A0￿9A0￿768ccAF7sLxj￿ ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Income frorn charitable activities Group Unrestricted Restricted nds funds Total 2024 Tctsl 2023 A￿rdIng quarificati￿ inc(*re IDLS incon 5.143.720 1.5&3.411 &143.720 1.583.411 4.710,144 1,132,795 6.727.131 727.131 5.842,939 Charity AwBrding qldificalion incc 5,143.720 5.143.720 4,710.144 5.143,720 &141720 4.710.144 All In￿Me fr(Nn charttatje ath"vities in the ctynparattve peric*J was UnreStr￿led. In¢om¢ fr¢m invèstments Group and charty Unrestricted Restricted filnds funds Total 2024 Totsl 2023 Bank interesl rec￿￿8 68.252 40.119 68,252 68.252 40.119 All income from inveStm￿ts in the comparalive period was un￿StrICted. -22- ErNe￿pe ID. A30A8C83-242LHArJ>￿768C¢AF75DOA ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 Other income Group Unrestricted Restr•Gted funds Total 2024 Totsl 2023 l>anl inc(* 958 958 Charlty unrestric￿ Restri￿ed funds Total 2024 TrAal 2023 (>ant income Interest C￿ goup k￿1 2,954 21,215 18.160 18.160 18,160 18.160 24.169 All other income in the comparative period was unrestricted. Expenditure on charitable actiyitses Group PronYAion of edu¢at•¢)n and training Unrestrided ReStr￿ted Total 2024 Total 2023 Costs of g￿erating awar(ling qualrfication incorr Costs of generab'ng IDLS incL Support costs (See note 71 2.883,722 958,023 3,019.789 2,883.722 2.681.673 958.023 778,792 3.019.789 2,706,973 6.861.534 6.861.534 6. 167,438 Charty Tolal 2024 Tolal 2023 UnreslrKted Restricted Costs of generatirKJ a￿rdIng qualificati irwn Support costs (see note 71 2,889.￿7 2.537.997 2.889.907 2.5fA).487 2,$37.997 2.345.389 5.427.gM &427,904 4.Si15.876 -2& orK￿Ign Envew ID.. A3QA8c83.242tHATr>9A￿76accAF75t￿jA ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 Expendlturè on ¢haritable activities l¢¢>ntinued) All expendilure on charitable activil￿S ￿ the comparative period was unresthcted for both Grcwp and Charity. Support costs Group Charitable activities Total 2024 Total 2023 WaJes and saL4ries Rent P2tèS and VAter Light and heal Repairs and nk91nt￿an¢e Insurance ath and safety ConsuKarKy fees Te￿phOne Ad￿r￿9￿j Prinb"ng, postage and ststi¢Jwy Depreciation AnTr)rbsation Informatic￿ Techrv Conference costs Sundry eypenses Bank charges Bad debts Loss on disp)sal of fI￿d assets Profil on foragn e>rhaThJe Accountsncy fees Audit Fees Legal fees Professional subscriplions 1.319. 258.758 20,547 34.878 75.195 39,933 10,536 72.570 8.362 1,319.680 258,758 20,547 34.878 74195 39.933 10,536 72,570 362 I.OS).812 301.481 23.134 34,874 91.4( 40,522 4.861 67,985 9,338 29) 4.829 5,153 240,792 240,792 235,550 99.116 99,116 61.375 556.684 5*684 445,356 49.054 49.054 46,901 153,529 151529 153.584 13.292 13,292 5.121 {2791 {279) 51.864 1204 {21 17.286 19.740 18,046 2.039 12 14,128 18,4S) 44.015 761 17.286 19.740 18.046 2.039 Total support Costs lor group 3.019.789 3.019.789 2.706,973 -24- Do¢usvJn Envelope ID.. A30A8C8>24204AIXP9A￿768CCA￿I ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Support costs Icontinu¢d) Charty Charitable ac¢Niiies Total 2024 Totsl 2023 Wages ar￿ salaries 1.098,W 1,098.564 191,881 191.881 20.547 20.547 34.878 34.878 .079 50.079 29.9￿) 29.950 10.536 10.536 72,570 72,570 8.362 4.829 240,792 70.642 442.265 49,054 147.410 6.455 {11.1PAJ) 13,576 13,375 1,676 41,716 854,570 301.481 23,134 34,674 91.405 40,271 4,861 67,985 9,338 5,153 235,550 Pates and ￿￿ter Lighl arKI heal Repairs aThJ n*intenance Insurance Heath ané safety ConsuW2ncy fees Tdepho Printing. wstsge and StatiL￿ry Depreciati Amrbsation Infonnalion Technokoy Conference costs Sundry ewenses Bank charges Bad debts Accountsncy fees Au(Jil Fees Legal fees Intercorrpany knan ￿elled 240.792 70,642 442.265 380.482 49.054 46,￿1 147,410 2.733 41.157 9,756 12.500 111,1601 11576 13.375 1.676 41,716 Total support costs f¢x Chaiity 2.537,997 2.537.997 2,345,389 -2& DooJ&gn Envekpe ID.. A30A8CB3.242[k4A(K>9￿768ccAF7S0oA ASCENTIS (COMPANY LIMITED BY GUARANTEE) MOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 JULY 2024 Nel income for the year 2024 2023 Net is stated after chary*￿: Group Staff pensicn ¢￿trIlyjtiOr6 . Audtors, ren￿nerati - audit of Ihe financial staterrEnts Depreciatii)n of tsngits￿ assets - ￿ed by Ihe group Amorb"sation of intangitle assets - ov￿ed by ihe gr￿p 154.754 160,563 19.740 18,4￿) 240,PJ2 235.55) 99,116 61,375 Charity Staff pe￿C￿ contribubc Au(JtLYS' renyJner*"on - au¢Jil of ￿ financial Stater¥￿ts Depreciation of tsr¥Jitk assets - 0¥￿ed by the charity Anu)rlisabon of inlar¥Jible as - 0%￿ed by tr* chwity 124,641 127.037 13,375 12.gxl 240,792 235,59) 70.642 60.045 Staff costs and emoluments Total staff costs were as follows- 2024 2023 Gr¢up Wages ￿ sakries s￿la1 security costs pensC￿ Costs 3.691,263 279,684 154.754 3.394.052 333.450 160.563 Total group staff costs 4,125.701 3.888,C65 Charity Wages and saL4ries ScKial security cc6ts Pens￿ costs 2.761,056 212,754 124,641 2.666.741 264.588 127.037 Total charty staff costs 3,098.451 3.058.366 Oocustqn Envtlope10.. A30A8C8>242D4AI)>9A8&768CCAF75C#)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEO) FOR THE YEAR ENDED 31 JULY 2024 Staff ets$ts and emoluments l¢ontinued) Particulars of employees: The average head count number of staff employed by the grwp during Ihe year was as foll¢JWS: 2024 No 2023 No Ey￿Uti4e Charitab Supr9P*&768CCAF15L)JA ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2024 10 Tangrble fixed assets Group Leasehold Fixiures & Property Fittings Equipment Vehicles Tola Cost At 1 August 2023 Addithons DisFKJsals 926,257 535,627 7.916 259,664 48,701 98,000 10,167 1.819.548 66.784 At 31 July 2024 934.173 S3S627 108.167 1,886.332 Depreciatio Al l August 2023 Charge for Ihe year Elnwnated on dispos* 168,4e 172.269 76.e68 143.429 70. 14,279 12,240 498,443 240,792 At 31 Juty 2024 249,386 248.937 214.393 26,519 739,235 Net l)o¢k value At 31 Juty 2024 6W787 286.6 93.972 81,648 1.147.097 At 31 ju￿ 2023 757.791 116.235 83.721 1.321.105 Charity Leasehold Futures & Property Fittings Equipment Vehicles Totals Cost At 1 August 2023 Addil'ons Disr￿saI$ 926.257 7.916 535.627 259.664 42,289 98.0 10.167 1,819.548 60.372 At 31 July 2024 934.173 535.627 301.953 108,167 1.879.920 Depre¢lation At 1 August 2023 Charge for the year Eliminated on disptssaL% 168,4e6 J.9 172.269 76.668 143.429 70. 14.279 12.240 498.443 240.792 At 31 July 2024 249.386 2¥937 214393 26.519 739.235 Net book vatye At 31 July 2024 684.787 28Q 87,560 81.648 1,140,685 Al 31 Juty 2023 757,791 116.235 83,721 1.321,105 -2& Dcojwgn Envekjpe ID.. A30A8CB3-242NAOLk9A88-768CCAF75DiI4 ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 11 Intangible assets Group Other intsngible asséts St)ftware Develop kntellectual costs mènt costs pr¢perty Tolal$ Cost At 1 August 2023 Addib'ons Oisposals 439.070 227,280 163,0 25,lJJ) 136.8£(J .419 16.783 {5,204) 799,345 329,063 15,2041 At 31 Juty 2024 666.350 188,056 I￿8 71.998 1.123.204 rtÈsatlon At 1 August 2023 Charge for year ElI￿￿nated ￿ disFK6 163.344 67.171 203.934 g9.116 9.167 At 31 July 2024 230.515 22.778 49.757 303.050 Net book value At 31 Juty 2024 435,835 165.278 196,800 22.241 820,154 At 31 ju￿ 2023 275.726 163, 136,8C 19,829 595,411 Charity Other angible Software Devel* Intellectual TotaE5 Cost Al 1 August 2023 Additions Disposals 439.070 227,280 49,168 136,eixi 60.￿0 19.870 15,650 644,￿8 302,930 At 31 Juty 2024 49.168 196.800 35,520 947.838 Amortisation At 1 August 2023 Charge for the year Eliminatsj ¢Jn disp¥Jsal 163.344 67.171 19.870 3.471 183.214 70.642 At 31 July 2024 230,515 23.341 253.856 Net book value At 31 Juty 2024 49.168 19Q800 12,179 693,982 At31 Juty 2023 275.726 49,168 136.8LK) 461,694 Ewkpe ID.. A30A8C8>242fMAfX>9A88-768CCAFIStKJA ASCENTIS {COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDEO 31 JULY 2024 12 Debtors Group 2024 Gr￿P 2023 Charty 2024 Charity 2023 Tr&Ye debtors AnK)unts owed by group uThletskJ"r PrepayThnts and accrued Ir￿On Ofvr debt￿$ 633.287 2&3.￿7 524781 429.291 225.486 2.870 172,031 250.825 3.781 313.125 291.351 S)7 887.893 547.599 1.182.428 967,183 13 Investments Charity 2024 2023 Investments in subsidiary undertakings Cost brought f¢JTr￿rd Total inveStn￿ts carr￿d forward Included in investments is £1 rewesenting the enti￿ of the issued share capital of Intemational Dyslexia Leaming Soluti￿5 Limited and Virtual Academy Limited. Both companies are ￿￿or[M)rated in England and Wales. t)ty)Jsign Effivel¢pe ￿.. A30A8C￿242D4Nw9A￿76eccAF7Sr￿A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 14 Creditors.. amounts falling due within one year Grow) 2024 fyojp 2023 Chwity 2024 Charity 2023 Trade Creditors Cxher tsyation ar¥J ￿la1 secwity <)her credil(*s AccruaLs def￿r￿ 1￿C￿re 211.556 133.123 122.327 43.413 36,477 326,366 440.360 191,262 133,123 31,828 320,441 77.051 122,327 30.675 428.501 714,458 676,225 676.654 658.554 Deferred in¢on 2024 2023 Baance ￿￿3ht forvmrd Re￿ase of deferred income In¢¢)n￿ deferred to 202425 207.225 242.7(J) {207.2251 {242,7001 2(KJ,489 207,225 200.489 207.225 15 Commitments under operating leases Group 2024 Land and Buildings 2024 Other 2023 Land aThJ Buikyirgs 2023 iteff Wilhin 1 year Wilhin 2 to 5 yews After than 5 years 262.500 1,312.500 1.443.750 262,500 1.312.500 1,706,250 33,711 5.793 3S224 3.018.750 69.723 3.281.250 39,504 Charty onty 2024 Land and Buiklin95 2024 Other items 2023 LarKJ and Buiklings 2023 Clher £ten Within 1 year Within 2 to 5 years After rrore than 5 years 262.500 1.312.500 1,443.750 262,5LTh) 1.312,5CK) 1.7C6,250 33,711 5,793 3&224 1018,750 69.723 3.281.250 39.504 -31- DO¢￿514N Enveknpe ID.. A30￿&242D4A0>g￿*8-768C¢AF7SDOA ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 16 Unrestrlcted Income funds.. current year At31 July 2024 gust 2023 Transfersl Expenditure revaluations Group Designated FLYds General Funds 212.339 5.839,299 1212.339) 212.339 s.795.￿3 16.861,5341 &985.487 Unrestrkted funds 6,051,638 791383 16,861,534) &985,487 Charity Oesignated Funds C£neral Funds 212.339 6.099,424 {212.3391 212.339 S.2￿1.132 {5.427.9)41 113.991 Unrestricted funds 311,763 &230,132 {&427.9041 6.113.991 The Tnjstees created a des¢gnated fund to rneet the cost of any potential future uninsured liabilities that may arise from ihe TUPE (Transfer of Undertakings Protection of Employmenll fegulations, following the transfer of the acliwties of the former Open College of the North West into Ascentis in 2009. The balance this year has been reduced to nil Ihis year as there is no shortfall and the Member is hjlly underwritten. 17 Unrtstrlcted income fvnds: prior year At31 Juty 2023 August 2022 Transfer Inm Expenthture revaluations Group Designated Funds General Funds 184.846 6.150.214 27,493 212.339 (27,4931 5.839.299 5,884,016 16.167,4381 Unrestrlcted funds 3￿060 $884.016 16.167.438) 6.051,638 Charty Designated Funds General Funds 184.846 6,258,361 27,493 212,339 127.493) 6.099,424 4.774.432 (4,905.8761 Unrestricted funds 444207 4774.432 14.905.876) 311,763 C￿CuS￿Jn Envelope ID.. A3oA8C￿242D4A￿9A8￿768cCAF7SLy)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEO) FOR THE YEAR ENDED 31 JULY 2024 18 Analysis of net assets between funds: current year Group tangible & lang71 Jle Net current Long term Totsl Unrestrkted in¢ome fvnts: Designated FuThts General Funds 1.%7.251 4.018.236 5.985.487 Total funds 1.967,251 4.018.236 5.984487 Charity Intangible & tangible Net ¢urrent LMg term liabilities Total Unrestricted income funts: Designated Funds C*nera 1.834.667 4,279.324 6.113.991 Total fvnds 1.834.667 4279,324 113,991 19 Analysls of net assets between funds: prlor year Group Intangible & tangible Net ¢urrent Long tem ed assets liabilities Total Unrestricted income funts: Designated Fund5 General Funds 212.339 3.922.783 212.339 5,839.299 1,916.516 Total funds 1.916.516 134122 6,051.638 Charity Intsngible & tangible Net current Long term Ilabllltles Total unrestrK1￿ inc¢nx funds: Designated Funds Gener￿ Funds 212.339 4.316.625 212,339 6.099.424 1.782.793 rat￿ funds 1.782.799 4.528.964 6,311,763 -3& D¢rJJ¥gn ID.. AY]A8c83.242D4Ao￿9A￿768CcAF7W)A ASCENTIS (COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Control and related party transa¢tions (including key fflanagement personnell The charity was under Ihe Conlrol of the Board of Trustees. who are also directors for the purposes of mpany law in both the current and wor perirxl. No Iruslees were remunerated IheK role as Irustees of the charity. however one Trustee received employmenl benefits totalling £151,501 (2023.. £143,332). induding pension contributions of £19.760 12023.. £17.7571, for their role as CEO. Quring the year. 2 trustees We￿ re1ml￿r$8￿ £443 12023.. 2 Irustee5 reimbursed £382) for expenses inCur￿d. Key management personnel of the company received totsl remuneration of £385.551 (2023.. £377.3551 for the financial period. There are no further disdosatAe relate(I paty transacts.ons for the charity. 21 Company Ilmil¢d by guarants• Evw membef guarantees. in the eV￿t of the charitsble company being wound up while he, she or il remains a member or within 12 months of he. she or it ceasin9 lo be a member. lo conthbute £1 towards the cost of dissolution and the liabilitses incurred by the Charitable comparhy while the contribijlor was a member.