REGisfERED COMPANY NUMBER: 09019610 (Engl•nd and Wales)
REGISTERED CHARrrY NUMBER: 1157785
Audlted Hnandal Ststements
feff the perk
I Septemter 2023 to 31 July 2024
Heart of BKmlNJham Vcullonal Colle9e
Umlted
Jin A￿j[t LIn￿ted
Chartered Amniants
Statlrtory Audito
Church Court
stourbWe Road
Haleyjwen
West Mhjlands
B63 3TT

Heart ol Blmiln9ham v￿allOn81 COl￿e
Llmlted
Contents of the Finandal StateJnents
for the I Septeffl￿r 2023 to 31 ju￿ 2024
Report ofthe Ttuslees
I to 6
Rep￿ of the Inde￿nt Auditors
7 to 9
ststement of ￿na￿la1 Artlvllles
io
Balan￿ Sheet
li tts 12
Cash Fb)w Ststemert
13
Notes to the Cash How Ststement
14
Notes to the financtal Statements
15 to 23
Dets11￿ Statement of Flnanaal Actlvitles
24 to 25

Heart of 31milngham VI￿atIonal College
Umited
Repjrt cl the Twstees
for the perictyj I Sepiembef 2023 to 31 July 2024
The trustets who are also dlrrftors of the tharlty fw the purposes of the Compthes Act 2006, present thelf rerA)rt wlth
the financkl st£tements of the thartty for the perfcmj I September 2023 to 31 July 2024, The tNStees have adopted the
provtslons of Ac£ounbng aTrJ Rerthing by tharities: Statement of RLrOmMe￿1tyJ Pradice appSic3ble to charilles
prep3dng thelr aCC￿nts in accordan￿ with the Flnancial Rep￿￿ng Storrflard applicable In the UK and Republic of Ireland
(FPS 102) (effective l January 2019).
The accounUrrfJ Fehod has been SI￿)rtened to make the accwnts peri(Kl (onslrtent wth that used by major provlders of
Income. The comparalive anN)unts In the accounts are therefore not enttrety comparable. This change Is
perrnltted under company bw.
OBJEcfivES AND ACllVmES
ObJed1v￿ and èlms
Our mlsslon
To pl0￿de an insplrational learnlw e￿ronrnent for pThn ￿niTed wlhjnal ethcatlon In a communlty.based setljry,
enaNlng learners to achleve ex[ep￿￿OI outcomes.
Our vlslon
To emFower our leamers to prepare themsefves lor ￿ next stage ol their 8duR lfves by provkllng them
translerrabte skJlL8 that enalAe thern to be¢on* W￿Se￿I Indeperrtdent lTrJfvldual$ ar¢d to flnd thelr pkce In thelr
Communlty.
Ourvalues
openn￿ . we use a slmple, and honest approoch
Deternilnauon . we are detemilne(i to ralse ￿p&￿￿On$ arrfl awaren￿, Intemally and extMMIty
E¥cellencé - we alm for eXtsIlen￿ In all ol wr teachiThJ and learnlrvJ
PrOgr￿- we slrlve to develop the sknlb and knowbjge of our learrtets and stsff
RW - we rLwnlse the valve ol eath Indivldual by wimrtlng equalty and dverslty for o
EmpJ%Erment- we emkN)wer our learws to meet their a*RlJons t￿Ugh leamer led teathlng and coathln9
OUR OBJEcfivES
The tharivs objectlve5 a￿ suth charftable wrp)se5 for ihe publlc beneft as are exdUs￿e1¥ charfiable ac£ordlng to the
laws of EnglaThJ artd Wales as the Dlrecttys may fr¢xn tlme trj Ilme detenrlne th particular but not exdusfvety by the
provtslon of educatyon.
o Promollng sttial tndusion amongst people who are sociawy exduded by providlng oprArtunilies foT
tralnlngi em￿OyMent or SC￿07 Interactlon, In order to relleve thelr need or a5si& them to Int￿Trte Into 5oJety.
For the purFoses of thls objert, '50daMy exduded, means people are èJdLKled from sodety, or parts of
gxlety, as a ￿vIt of one or more of the folbwkng factots:
o Sfftl Educational needs
D5gbility
Pcor EdUCat￿)n
o Pcor S￿lIS attalnment
o AdvaNing health by pronTr)iing and pioteding Ihe health, moral. £￿Ilden￿, Y￿.beIng1 skllls aThl abthtles for
peopk who are deerned vulnwable. and
o Pronv)tlng for the benefit of the Inhabitants of &rfngham 3rKI Ihe surr￿Ing area the prov6slon ol ladlltles by
reason of their age, infimity or disablement, financial hardshlp or 9Xtal and emnomlc Lircumslances or for the
wbllc at large in the Inlere5ts 01 SC*Jol v4eifare and wlth the obj&t of i￿￿10¥1￿9 the coThJitioft ol lile of the sald
Inhamants.
Pdge I

Heart of Blmilngham VLKallon81 Cdkge
Umited
Rewrt of the Trustees
for the peAc¥J I September 2023 to 31 2024
OBJEcfivES AND ACllVrnES
Significant actfvltlas
Student numbers
Our learner numbers have 9rown year on year SIn￿ we were estsbllshed In 2014:
201412015: 8 learnefs
2015116.. 281&
201612017., 39 leamets
201712018.. 52 learne
201812019., 63 leamers
201912020.. 72 leamers
202012021: 82 knmers
202112022: 108 leayners
202212023.. 132 leameTS
202312024., 144 lea￿*1$
Whatwedo:
Heart of ￿[MInghaM Vrfatkonal College (HBVC) Is a S￿la115t ¢ol* for youThJ pecyle aged 16-25 wth addllional needs.
We offer full-¥me study prLhJramm¢s and Sup￿rted IntemsNps thal ￿de Indmduallsed leamln9 experlentts,
developirvj key empkJyablUty and Infle￿dent I￿lThY sktl& fw leamer5 wlth mlld, ￿￿￿ernte, and severe leamlng
dls3bHSlles and Autlsuc Spectrum 019Jrde¥ FReds. All students have an EHCP and are fvnded through the ESFA and thdr
L(Kal Authorfty.
ACHIEVEMENT AND PERFORMANCI
o The Leadetshlp and Management of the ¢ollege15 strong. Govemots, leaders, and fflana9ern have establlshol a
culture of hlgh exF¢ctsVc4is aTrJ hhjh levels of support S￿dents and stsff.
The de$￿Tr, StrJctU￿ and seqvendw d the curTlaJlum Is stroro, Leaders have d¥lgnèJ J currtculum that
focuses on devebplng ￿d￿ts. ￿nph)YabI11ty, deVe￿pffl￿t, and Irthp*)den￿ In weparatlon for
adulthc<*J.
Currlculum plannlng ts effecuve and IrKlud8s gK£e55fv10)nat*)ratlon empbyers to devel¢)p the wrriculurn In
V￿L￿al aws. The dellvery of au leaching and leamlNJ actlvilftt fulty SUPPDrts 811 stUd￿ts to make gcxxl or
betier progress towards P￿nalIsed out¢cmes.
o Leadw5 ar￿ teachers have e5tsblisW a hlghly effecuve relauonshlp and sex oAKaÈbn ojrrkulum that tr￿lId$
sknJenW knowledge of heathy relallonshlpsi pu￿rty, ￿￿TraI hyglene, consent, arKI gr￿MIng.
o Leadets have Su￿e%￿U￿ rjealed a cdmi purp)s¢fvl and res￿rful en¥lronment for thdents to leam In.
o The behavlour and attitudes of siudents are excdlent. fvjl 5tsff have very hl9h for students and
where there may thalleNJln9 beha￿oUrS they are managed hlghty effed5vely thrwgh a colla￿}￿al￿e and
mety approach acfO&S Staff teams, As a result, Students demonstrate excepU¢)nal behavIou￿, and all slydthts
re hlghty engaged,
Leadets have establlshed hlghty effectkve support medNinlsms fw all sbjdents. T1￿ Indude very effthe
supp)rt from the Pastorol ar￿ WeHbdng team, Impresst¥e suppjt for students to prepare for and whi15t
attending work pla￿Ments, and an excellent transFort seThtce,
o Insplrtng parbietshlps wth employtts l&xl to tKceUent emtAoyobilty QPP)rtuntlles for all students Indudhg
wotkplace vlslts, workshops, an¢ work ￿8¢eMents. Students In placements and sup￿ted InternsNps
access hlgh-quahty empbyer tralnlJYJ that thdr under#and5ng of key Infort))atbJn ￿la15n9 to thdr Kle5
and respons1￿.11tle5.
o Safeguardlng Is h￿hty effecttve ènd fvlty embedded into the etlM of the college, The DSL and leade￿hIp team
are very respwbthe and proa(tlve In resFondlng to and actlonlng any safe9uJrdn9 concem5
o The managernent of fina￿￿5 sir￿9 and ersffts that the IrN*ient In le9wr￿S and opptytsjnliieg for
students and staff a￿ ex(tilent.
FINANCZAL REVIEW
Our Flnances
Most ot the college's Inrffi￿ Is oblalned from the ESFA c¢ Ic￿1 authorlty. The d￿rity do&$ not cary out Si9nlficant
fundralslpo acliV￿leS from the publlc.The use of tlv fund$1s flot r*kted to a partlcular purKM)5e. Dull￿4 the perfffil to
31 July 2024, the mllege recelvL)J tot31 IncThne cl £3,660,504 (2023: £3,258,51S) and In￿rrE¥l totsl wendlbjre of
É3,517,574 (2023: £3,422,347). Tr SUTpIus of Ir(ome a￿Inst exFendLwe vM5 £142.930 (2023. deftdt of £163,832).
At 31 J￿V 2024 Ihe rt knk value of r￿ed asse15 was £394,328 {2023: £313,599) and moveJnents In tanglble flxed
asseis are shown In note 11 to the flnandal 5tatem&M5,
Page 2

Heart of Bltmhgham VLKOt5onal Cd
UmSted
Report of Ihe Twstees
for the perk￿ i September 2023 to 31 July 2024
FINANCIAL REVIEW
Reserves pollLy
The truslees revtew Ihe level of reseNe5 held by the d7kn annualty. Thls reyltri er￿0mposseS the Tha￿re of IrKome
and expendlture streams, the need lo matth commitsments the nature of reseNes, The trustee5 betkve Ihty need to
have suffjdent funds to allow them to meet Obliga￿nS arfslng and to cover any fubxe thange5 In the level of fvndlng
recelve(J from the ESFA or k(al authority. at 31 Juty 2024 reserves totalbj negalfve £116,269 coM￿ts{n9 £278,059
unrestrfrte(J fund5 kss É394,328 held as fixed assets (2023. £in,545 ne9abve comprfslng £141,045 unrestrlded fvnds
less £313,599 held as fixed assets), Ha￿ng carefulty c0n5klé￿d the exfftrted Income and expenditufe of the college for
future the trustees feel that ￿ more than IO% of annual Income shoukrf be relalned as Unrestr￿ fifftd5 at the
pwILxl eTwi. The trustees have revithyed the ￿rrent levet of reserve5 whlch Is tekJw (2023: below) the Iokn guldellne.
The tsustees expect that devd0pm￿ts In the new year WIN help the charfty pr￿jre$S towards meetJn9 the guklellne.
A strong oveNlew of the college's flnandal p)sitbn hos been trucial work for the dliectors aThJ college leaders.
Cont5nuous monitorfng of the Coll￿￿e fHwrKts remalns at the fcKtlr(fftt for Dkertty5 and thllege leaders,
Investments
HBVC will be Inyttfjng In Icr and onllne se£wlty tlwougl*)ut 202412025, thls Yal Ind￿.
o Securfty enhancements - Essenvals Qrtlfication
SharePolnt and doud mlgration - data cleanslrffJ
o Devlce Invesbnent
VUTURE PLAIIS
For the current academic year, 202412025, ¥Ye wlll be 9oln9 through a pert¢xl of stablllslrvj the cdlegei flnandalty.
We ￿11 consolkjate ènd stab511se our admtles at the expartded level ￿ operdllons that has now been a(hI￿ed. Thls vlll
mean that costs are matthed by Income rather than nJnntn9 In front of income. Therefore, surpluses ratskr than deficits
will be secured, In add￿1)n, the value ol c3Pit31 sperdlrwj M fadlltle5 enhantrments wil be rèduced tttause fvrther
major Improvements ￿11 nrt be reNulred, Thls wll fftan that the bank holdlng stren9thens ar￿ the net ￿rrent asset
PD51th)n knPToves to become ￿[ye.
srRucfuRE, GOVERNANCE AND MANAGEMtNT
Govemlng do<4m¢nt
The charlty Ss contrdled by its govemlng d(Kument, Its artEde5 of ass(KlaUon, JThl (f￿5￿jt¢S a Ilmlted company, Hmlt
by guaranlee, as <kflned ty the Companles Att 21XJ6. The TW51￿ cl HBVC are also the Dlre(tots of the tharltsble
Company for the PUrrK)￿ of company law.
Members Ilablllty
Eath member of the chartlable company undertakes to contrI￿le to the assets of the ￿MPanY In the event of It belng
wound up vthlle helshe Is a fflember, or wtthin one year after helshe to be a member, svth amount as may te
requlred, nol exceedkng £1, for ihe debts and Ilabilltlts contracbj beftxe they ceas￿1 to be a member.
Page 3

Heart of Wmilngham Vocational Cnlleoe
Umlted
fte1￿ of the Trustes
foi the ped(>J i September 2023 to 31 ￿lY 2024
STrUCTURE, GOVERNANce AND MANAGEMENT
Trustees are apwlnted In accfjrllance wth the artide5 of assodation of Ihe O￿TIty. fktalts of the trustees who 5eryed
Ihroughout the year and the reglstered offlce are indudbj In the Refferen￿ aThl Admtnithlive Detslls sth of th15
repY)rt.
Jbject to the artides of assodat5on, a Trusiee apwlnle(l iry the Mern￿￿ shall hold Offl￿ f¢Y a twm of up to three yea
from the date of hls ￿ her ap￿ntfflent. One thlrd (or the numljer nearest to one thlfd) of the Trustee must retire each
year, those toThJest Sn office retsrfn9 Ilrst aThJ the cholce tetween any of equal serdce belrvJ made by drdwlng lots,
A Ttustee may serve a maxlmum of three terns, of up to three yeafs per temi. A Trustee who has rJ)fflpkied three
¢￿tInUouS tem)s of ser￿￿ os a Trusiee wli I not be ellglbk to be f￿apOnted as a Trustee unb1 Me year after hlslher
retirement. In thls lrtlde mws Ihe betwe￿ AGM and the next.
TNstee IndvrtkM)5 are Indmdualty talored to meet the need5 of each Twstee. ￿ernal Trnstee trdlnlng Is offer&J to all
Trustees who aTe new to such 8 role covedng to￿(5 such as ￿lIeS of Trustees Lfftder company and charlty law,
governan￿ ond effectlve InterFersonal relatknnshlps. TruSt￿S who have prevlousty uryJert3ken Twstee tralnlng are
Inv￿ed to UfKiertake a refresher coutse. Tralnlng needs wlll te asse%ed Indlvklualty w on annual golThJ forwards.
The Charfty ts govem<JJ by the TnJ#eeg who met for meethgs thjrfng the year. O￿ls1On$ are tskeTh collethvdrf wlth
q￿l￿n5 arlslng at meetlTr9s dedded by a majority of votes. The thalr of Tnjstets has a second or osUTrJ vote In the
event ¢f an equality of votes
Flnon<l41
The Truslees givo of thelr t1￿￿ freely, the pay and iemunerat5on of the Fmndpal and Senlor Leade￿[P Team Ls set by the
TrUstL4￿ and15 kert under annual revlew.
Organlsatlonal structure
The Dliectors detemilne the genernl pdlw of HBVC The day to day rUfi￿n9 of HBVC ts passed on to the Prlncipal,
supported by lfft Senlor Leader5hlP Team. The Pfkncipal undertakes the key leadershlp role ovwseelng edu￿tIonal,
pastoral and admlnEstratSve, Indudlng lknaJKlal, tssks al￿ duljes In consullauffi with the ￿1)r Leadershlp Team.
The Pflnclpal oversees the rec￿￿￿ent of all stsff. The Prtnclpal attends 1Yrect￿S, meetkngs.
Related pJrtlè•
H8VC Is a member of Natspec, thlch u5 the oppjrtvnty to share experttse, kJth¥ledge and experlence, and seek
advlce and gsjklance aLYOSS Independent Spedallst Q)Ilege sector.
R]•k managernent
The Dlredors are reswislbse for ihe ovexsttlng of the rfsks fa￿j by the College. Delalled con￿denl[0Th5 of rf5k are
delegated to the Senlor Leadef5hlp Team, Rlsks a￿ Idenlifled, asse55ed and omtrols estsbllshe<l thrwghout the year. A
ftjrmal revlew of Ihe charity's rlsk manwement processes is undertsken on an amual ba￿$. Rlsk Is mènaged under the
headln9s of flnancial sustalnoblllty. coHege safety, st￿ent welfwe, emfvent, college ￿p$ and events and communlty
a(Less. The maln rlsks that the Dlrectors have Iden15fbJ arKI the plans to manage ih)se rt5ks are:
o Ststus . uthldlng our rewtstlon as a gc¢Afj L¥Jucat50nal provi
o FInan￿- suffiaent fvnds to allow U)e cnllege to fvnclj
o Core currkubjm - a hTh¥stlc approach to a meaningful chalwng currfculum
GOIIIG CONCERN
After maklng approprf*e enquI￿e5, the &)aid of DtrtttNs has a reasonable exr*ctalkn that the HBVC has adequate
resources to contlNe In operational existen￿ for the foresceable fiJiure. For thls reasM, It conunues to adopt the gtslng
concern ba￿$ in prepartno the flnallcijl stsiemetits. Further dda115 r￿ardIng the adoptbn of the goFng concem basFS can
te fJJnd In the Ststement of Accounung Polides.
PUBLIC BENEFIT
The Dlrertor5 have cOn5bJe￿I Ihe Chafity Cornmlssknn¥ req￿rernent In i0Fect of pubFk tenefit. In thelr vlew, Uie
tharfty meets, In full, the criterla to sat15fy the te#. Ihe Dlrectorn, annthil report dwi)es the actiyltles undertaken to
fvrther Its (hanlable purF<Jses for the public benefit.
Page 4

Heart of Bimthigham V￿arK¢no1 Cc41ege
Umlted
Rewt of the Tnnstees
for the peik*J I Sepiember 2023 lo 31 July 2024
REFERENCE AND ADMINISTRATIVE DEfAILS
Reglstered Company number
09019610 (England and Wales)
Reglstered Charlty number
1157785
Reglstered offlc£
328-331 Bromford Lane
waShWL￿ Heath
Blrmln9ham
B8 2SD
Trustees
E A Morgan Ire*ned 3.10.24)
J Law￿nCe
R J Gowers (rwned I1.1.24)
Mlss C E Hcok
D W Faulkner
ClÉrk tti the Trust
W Lamb
Prlndpal
E aark
Audftors
Nlcklln Audtt Umlted
Chartered Accountants
ststutory Audltors
Churd) Cwrt
StOL*rbrfdge Road
Halesowen
West Mldlands
B633
Solldtovs
Bwowne Jacobx
Mowl)ray Hc4Jse
G75tle Meadow Road
Noitlngham
NG2 IBJ
Banke18
HSBC
96 Nl9h Street
Klngs He3th
Blrmingham
B14 7LD
Insurance Hrok¢rs
bl4lG Insuran
0121704 8411
Webslto
wYn¥.hbvc.ac.uk
srATEMENT OP TRusfEES' RESPONSIBILMES
The trust￿ (who are also the di¢Erttys of Heart of Blm)Ingham VcKational College Umlt8J the purFoses of company
law) are iesFrJr￿b1e for PTeparfng the Rewrt of the Trustees and the financlal statements in ac0Ydan￿ applKable
law and United Kingth Accountlng Stsndards (￿n￿e￿ Kingd<Nn Generalty Accepted Accounung Pradice).
Paye 5

Heart of Blrft￿nghaM Vcotlonal Cdie9e
Llmlted
Rwrt of the Trustees
for the peritsj i Septem￿1 2023 to 31 ju￿ 2024
srATEMENT OF TRUSTEES, RESPONS18ILrrIES- cfjntlnued
mpany law requlres the trustees to Pfepare Ilnandal statements for &ich finandal year whlth give a true ard view
of the stste of aff￿r5 of the tharitable 0￿panY arKI of the InccffilrvJ res￿[CeS and applthkn of r￿u[￿, Indudhg the
Income and exp￿XIrtUre, of ￿ thaitable CL¥npany for that pwlLxI. In preparing those finarijal ststements, the tSUStees
are rwuked to
selert sultat4e accountlng and then appty them conslstenty.
obserye the methods and prtndples In the O)arity SORP;
make judgemenls aThJ esttmates that are rea9)nafAe and prudent;
prepare the finan￿￿ statements on the golrrfJ ccrfKern ba￿5 unless It Is 1napw0￿ate to p￿me that the charttable
company wlll continue In ￿siness.
The trustees are reSp￿s[￿4e for keeplng praper ac¢t)untlrKJ records whlth dlsdose w5th reasonable acrLTrrnCy at any tlme
the flnatKlal p￿)sI•jOn of the charlt*le company aTKI to enable tlwn to ensure thot tho Ilnandal ststements compty with
the Companles Act 2006. They are also reS￿nSIb￿ for safeguardlng the assets of charllthe company and hen￿ f
tsking reasonaL4e steps lor the preventlon and detethn of fraud and other Irregularitles.
In so lar as the trustees are awa￿.
there Is no rthvant audlt InformaY¢)n of vknlth the tharitjble companvs authtors are unayrdre; arKI
the trustees have tsken all steps that therf owht to have taken to make themsew aware of any relevant aud
Infomaikn and to *b115h that the auditors are aware of that Infomlallon.
AUDifoRS
The audltors, Nkklln Audlt Umlted, be w)osed for r￿ap￿Intmertt at the 1￿cOn￿ng Amual General Meetkng.
Approved by order of the trfJard of ITUStees on ....
l.o....i..o.i..1...7X.......
and 51gned on Its behalf by..
j Laviren¢¢- Tr(d*e¢
Page 6

Reiyxt of the Ir¥Jewdent Audliors to the TNstees L
Heart of BtrTnlngh3m Vcollon31 College
Umlted
Oplnlon
We have audlted ihe finandal statements of Heart of Btrmlrvjham Vocallonal College Llmttwj (the 'charitsble companv)
for the perlcl ended 31 July 2024 whlch comprlse the Ststement of NTr3ndal Activille5, the Balan￿ Sheet, the Cash How
stst￿ent and note5 to the financial ststernents, IndLKling a sumTnary of significant acLXXtnting pJlides. The flftanclal
reFthng framework that has been applled in thek weparation Ls ap￿icable law arKI Unlbj ￿n9dc￿￿ Accountlng
Stsndards (Unlted ￿ngdoM Genernlty Acttpted Acmuntin9 Pratti￿).
In (￿1r opln50n the fina￿13[ statements:
glve 8 true and falr ￿eW of the slate of the d￿rilable cornpanvs affa7￿ as 8t 31 Juty 2024 and of Its Incomlng
reswrces and appllcallon of resources, IrKluding Its Inccme and ex￿ndIture, for the then ended;
have teen property prepar&J In accordaKe with Unlted Klngdom Generally A￿epted ACc￿ntIn0 pract￿,, aTh
have been prepared In acwrdantt with the requirements of the Comp3rbles Act 2006.
Basls for oplnlon
We conducted our aud￿ kn ac¢or(iarKe wtth Intwnaiional Stsndards on Awjlung (UK) (IS4s (UK)) and appllcable law.
re$r￿.￿￿b11ltjeS LHKler standards are further descrfbed In the Audr<ors' reswnslbllrtles fDr the autht of lthe flnancwAI
ststements s￿￿On of wr re￿rt. We are lThJependent of the thaiktsble company In accordance with the ethlcal
requlrements that are rdevant to our audrt of the finandal st*ements In the UK, Indudlng the FRCS Elhlcal Standard,
and we have fvlfilled other ethkal fewnslbihtles in accordarKe wlih these reqylrwnents, We that the avdil
eVIden￿ we have obfainedls sufficient and apyopriate to prO￿rfe a basls for our t¥xnw.
Condu4lons relatlng to golng conc•m
In audiung the flnandal statements, we have condudgj ihat the tNstees' use (l the Ong concern basls of accwntlng Iti
the pRparatlon of the flnanclal stslements b approprfate,
Based on the work we have ￿f0￿ed, we have r¥)1 kknufled any materfal uncetslntles rdatln9 to evenls or condltion5
that, Indlvldualty or CO1￿1Ve￿, may cast Si9nificant doubl on the Charitab￿ crJnpanVs aNlity to con¥nue Js a gLyng
concem for a perfod of at least Iwelve months frnm vthen the f￿ar￿la1 ststements are authortsed for &sue.
Our reswnslblNUes and the rwnslblltks of the tJU5tees vAth to golng Loncwn are dexrtsl In the relevant
secth)ns of rewt.
Othir Inlomiltlon
The twstees are re5ponslble for the other Inf0M￿tI￿. The cttjer Infom)atlon comprtses the Infmatlon IrKJuded In the
Report, other thon tho Ilnanclal statcThents arvj our ReFKvt of the Independent Audltors therem.
Our Wnton on the flna￿la1 ststements does not cover the other lrforniatFon and, except lo the e¥teDI othervlse
exrAldtSy ststed In our rewt, we do not express any form of assu1an￿ o)ncluslon Ihereon,
In connectlon TAfjth our atsdll of the flnand31 ststements, our re5ponslblHty Is to read the other Infomiab'on and, In doing
g), conslder whether the other Infom￿11￿ Is materlalty Inc￿S[Stert vth the flnandal *atements or Wf knovAtrJge
obtalned In the audlt or otheTh￿se ¥)pears to be materlalty mlsstate<i. If we Idenufy suth rnalertal Inconslstendes
apparent material m&ststements, we are requlred to detem)Ine whether thts glve5 rf5e to a materlal mlsstatemertt In the
finandal stalements them5arfes. If, based on the WO￿ we have performed, we Co￿knde that there Is a materfal
misstatement of this othtr Infomtlon, are required to rwt that fact. We have nothlng to rewrt In thls regard.
Mattevs on whlch we am rnqulred to report by exceptlon
We have nothliKJ to rep)rt In respert of the foll￿1￿j maiters where the Charitte5 {AcAiunts and Repxwts) Reg￿￿tIOnS
2008 r￿VIre5 us to report to you Ir, In ￿r cplnlon.,
the Informatlon gfven In the RepJrt of the Tnjstees b In￿[￿lStent In any matwlal reSp￿t w¢th the financial
statemenL8' or
the charliable company hos Thjt kept adequate acuwnung remrds; OT
the finandal ststements are not In agreement wth Ihe Xco￿tEr¥J reconjs and returns;
we have not recdved al the Informatlon aTh1 Éxplanathjns we requtfe for our audlt.
Page 7

Report of the Indepe￿Ient Audrt￿s to the Tnjstees of
Heart of Blmlngharn V￿ational College
Unwted
Responslbllltles of trnsteos
As explaltRd more fvlly IA the Slalement of Trust* ReSpOn￿bHittes. the tnsstees (who are also the dIr￿￿15 cf the
haritable a)mpany for U)e purp)ses of company law) are r￿￿sIble for the pieparntK*n of the financial statements and
for bdng satlslled that they 9tve a tDJe and falr vlew, and for such Intemal contrc4 as the tnjstres dètem)Ine Is necessary
to enable the preparation of finaniial Statern￿ts that aTe frcth n53terlal mlsststement, whether due to fraLKI or erDx.
In prepaAng the finondal ststements, the trustees are reswigble for oswlng the d￿ll￿ble companvs atility to
contlnue as a going concern, dixlothg, as appltsbfe, rnattw5 related to golng cor￿1 and U￿n9 the goln9 ioncern
ba￿$ of accounvng unl￿$ the trustees dther Intend to Iwktste the charfL3ble cfynpany or to ce35e OFwaUons, or have
Th) reall&lc alternatfve but to do 9).
Our rupon51bllltlu forthe audlt ol the Ilnandil statements
We have iEen app)iftted as 8uditors undw Sertth 144 of the Chartues Act 2011 and report In accordance th the Att
and relevant regulatlons made or having effert thereunder.
Our obl￿0Ve$ are to obtaln reasonable a5surnn￿ ab3￿ the finandal ststements as a WIN?￿ are free from
matérlal mlsslatement, whether due to fraud ￿ error, and to Issue a Rep)rt of th¢ IThJependent A￿lI￿r$ that Indudes
our oplnlon. Reasonat4e assuiance Is a hlgh level of assuran￿, I￿t Is not a guarnntee that an audrt conduLted In
afxttdance with ISAS (UK) w￿1 always detect a matsial rnlsststement when it pjlsts. Mlsststements can arfse from fraud
or error and are consldered materfal If, knJr¥ldualty or In the aggre9ate, tlw mukl reasonbbty be eXp￿ted to Inlluen
the e(onomk dedsk)ns of users taken on the basls of these Ilftarthl ststempthts.
The extent to vilikh our pr￿lurtS are op3bl& of detertlNJ Irregularfues, Indudlng lrnud Is detsll&l beknw:
We Identsfy arKI assess rlsks of materlal mlsstatement of the flnandal ststements, whether due to fRud and erfor, Jnd
then desi9n ond perfomi audit W￿dureS responsrve to thrAe risks, Indudin9 1)blalnln9 audlt evldence that 6s suffldent
and approprlate to ptovlde a basls fc* our oplnlon.
In IdenU￿Ag and assesslno rlsk% of matedal mlsststement In of kre9ularltle5, Indudlng frayd 4nd non.complEance
wlth laws and regukuons, we cnnsblered the folthylrvj..
- the nature of the Sndusty, contrd envlrofftnt arKI busSness Fwfomanca;
results of cur enqulrfes of management atrf￿t thetr own Ident5AcaUon and assessment of the rfsks ￿ Irre9ularlties;
any maiters we have IdentIfl￿ h8￿ng revlertl the companfs prtttsJures lor c£ynptylng wlth laws and regulatk)ns and
whether they were aware of any InStsn￿ of non<omp1lan￿. The key laws requlauons we consldered In thls context
Induded the Compan*s Art 21x16.
As a rewlt of these PrC(edU￿ we (￿sIdered Ihe opwJrtunitles that may exlst withln the organlsatton for fratkl resuliiNJ
In materfal mwtement In the finandal ststenents. We ccwthred that any suth opFortunllles are mlugknj by the ftLt
that the company Is under the dose conlml of Its dIreCt￿$.
Our wc(edures to arrive at thls Induded Ihe follovln9:
- revlevANJ balance sheet control affounts to ensure prokvty r￿OndIed.
. rrtfomlrvj anamiral w(xedures to Idenlify any unu9Jal or weX￿￿t¢￿ relaOonsNps that may Indkate rlsk5 of ffoterfal
ml&statement due to fvaud,.
- enqulrlng vlth management ￿r￿eMIr#j actual and ￿n￿al It￿allOn da
A further descrlptlon of (￿r rewnslblll¥es for Ihe audit rf Ihe firkirKlal #atements Is located on the Flnanclal ResJ)rtlng
Cwncll's webslte at wvM.trc.org.uVaudltoNtspKJnsM>llittes. Thls desutptlon f(M7ns part of our Rewrt of the IndeFendent
AudFtors.
Page 8

Report of the Inde[￿nt Auditot5 to the Trustees of
Heart of &mlngham V(¥aYonal College
Umlb
Use of our rtport
This rerK)rt Is made sclety to the charitable companys tNstees, os a b￿ly# In accordan￿ with Part 4 of Chartlles
(Accounts and Repyts) Regulat1￿$ 2008. Our audlt has been undertsken so that we mlght state to the d￿r]￿ble
companvs trustees th¢xe matters we are requ1[￿ to state to them In an audltors. rekx)rt and for rto other purFM)se. To
the ftillest extent Femiittoj by law, we do not aLrept or assume re¥￿SI￿lIty to anythe other than charftable
company ond the thar(table u)mpany's trusiees as a tLwJy, for our audit worK for thls rep)rt, or for the opinions we have
formed.
Nkkjin Audtt Umll
thartered Aco)untsnts
Ststtrtory Auditor5
Eliolble to ad as an audRor In temis of Secuffi 1212 01 the Crynpanles Art 2006
Churd) Court
StcAJrbddge Road
Halesowen
West Mldl3nds
B633
Page 9

Heart ol Bimiingham Vctsbonal College
Umtted
ststement of Nnandal AttivitÈes
{IncorpDraUrvJ aTr Income and tydliure Account)
lor the pertcxl I September 2023 to 31 Juty 2024
1.9.23
to
31.7.24
Total
fvnd5
Year Ended
31,8,23
Total
funds
Vnre5tricted Restdcted
fund
fiJNIs
INCOME AND ENDOWMENTS FROM
Donalions and legacles
36,497
36,497
46,898
Charltable actlvltl¢s
Educaljon
3,614,482
9,525
3,624,007
3,211,617
Total
3,650.979
9,525
3,660,504
3,258,515
EXPENDMJRE ON
ChaTltable actlvltl4Y
Educatlon
3,511,407
3,515,007
3,419,$47
2,567
2,567
Total
3,513,974
3,600
3,517,574
3,422,347
NEf INCOMEI(EXPENDrnIRE)
137,CQ5
5.925
142,930
(163,832)
RECONCIUATION OF FUNDS
Totsl funds brought forward
141,054
3,356
144,410
308,242
TOTAL FUNDS CAIiRIED FORWARD
278,059
9,281
287,340
144,410
The notes fomi part of these financial ststements
Page 10

Heart of ￿m)InghaM Vocation81 College
Umlted
Balan￿ Sheet
31 Juty 2024
2024
Totsl
fvr
2023
Total
funds
fund
FJXED ASSETS
Tan9lble assets
394,328
394,328
313,599
CURRENT ASSEYS
Debt
Cash at bank and In harvj
12
,068
58,293
54,091
97,366
49,012
9,281
133,080
9,2BI
142,361
151,457
CREorroRS
iounts falling due wlthln one year
13
(236,428)
<236,428)
(30D,833)
NET CURREIIT ASSErs
(103,348)
9,281
{94,067)
(149,376)
TOTAL ASSEfs LESS CURRENT UABILrriES
290,980
9,281
300,261
164,223
CREDrroRS
Amounis tdlllng due after more than one year
(12,921)
(12,921)
(19,813)
N￿A$SEr$
278,059
9,281
287,340
144,410
PUNDS
Unrethcted fijnds
Resvicted funds
17
278,059
9,281
141,054
3,356
TOTAL FUNDS
287,340
1+7,410
The Charitsb￿ ￿m90￿ Is enbtled to exempilon from a￿lIt under Secljon 477 of the Comwies Art 2006 ft)i ptrlod
eTrJeLI 31 Juty 20Z4.
The membern have noi dewited nc*1￿• wrsuant to Sectlon 476 of the COm￿nIeS Act 2006 requlrfng an a￿lIE of these
llnarKlal statements.
The tNStees acknowledge thelr reS￿n￿bIllieS for
(a)
ensurlw that the chahtable company keeps aCcounu￿ rths that comply wth S&Uons 386 gnd 387 of the
Companles Act 2006 and
eparSrFJ finanda statements whlth ofve a tn￿ and falr ¥lew of the siafe of affa1￿ of the charftsble (ompany as
at the end of each flnanclal year and of its surplu5 or defKIt for eadi finandal year In ac£ordancA wlth the
regulremenls of SeLtlons 394 and 395 and whkh olheThYlse cnmpty with the reoulremenis oi th8 C4xttpanles Act
21M)6 ￿laun9 to financial stateJnents, so far as appllcable to the dwrttable company.
These finandal stalen)ents have been audRed under the requlrements of Sedlon 145 of the (harfues Act 2011.
(b)
The notes fom) part of these fiwKlal statemthts
Page 11
o)nUnued...

Heart of Blm)ingharn V￿allonal ￿llege
UmSted
Balarts Sheet- c<>nUnued
31 Juty 2024
Th￿ finandal statements have been prepared in 8crnrdance with the prO￿510n5 applicable ￿ tharltsbk companles
subjett to the small Companles regime.
The finBndal ststements were approved by the ol Trustees and aLJWsed for &sue on
a.l.,aTh.l.? f.......... and were 51gned on its beh3lfby:
J Law￿￿¢¢ . Trustee
The notes form part of these finandal ststements
Page 12

Heart of 8￿rnIngham Vc(allonal Colb3e
Ilmited
Cash Flow Ststement
for the Ferlc#J I September 2023 to 31 July 2024
Periixl
1.9.23
to
31.7.24
Year End&J
31.8.23
Cash flows from operatlng a¢tfvitle%
Cash generated from operatlons
terest element of hlre purthase payments
Pald
103,666
45,092
(2,567)
(2,81)0)
Net cash PTovlded by operat]ThJ actfvlttes
101,099
42,292
Cash flows from Invertlng ac*lvltle9
Purthase of tsrvjlble flxed assets
(133,280)
<41,823)
Nel cash usa In Investi￿ acb*Sties
(133,280)
(41,823)
Cash flows from flnan¢lng •th111
CakNtsI repayments In year
(6,892)
(7,519)
Net cash u*J In flnancln9 actfviues
{6,892)
(7,519)
Changa In cash and cash ￿￿1valents Ih
the reportlng perfod
Cash and ￿$h equl¥alents atthe
beglnnlng of the reportlng perlod
(39,073)
(7,050)
97,366
104,416
Cash and cash equlvolenlj at th• end of
tho Yeportlng perl¢)d
58,293
97,366
The notes fomi part of these financial statements
Page 13

Heart of Bimilngham vc￿￿On31 College
Umlted
Notes to the Cash Ftow Statement
for the perlcwj I Septembw 2023 to 31 Juty 2024
RECONCIUATION OF NEf INCOHEI(EXPENDrnIRE) TO NEf CASH FLOW FROM OPERATANG
AcrxvmES
1.9.23
to
31.7,24
Year Ended
31.8.23
Net Incomel(expoDdlture) for th• rnportlng perfod (as per tho
ststement of Flnandal Actl¥itles)
Adjustments for:
DeprecLaOon charges
Inte￿5t dement of hire purdmse and finano lease rentsl payments
(Increase)Idecrease In debtors
(Deuease)Ilncrease In Lyedknrs
142,930
{163,832)
52,551
2,567
(29,977)
(64,405)
57,338
2,800
18,258
130,528
Net cash provlded by operntlons
103,666
45,092
ANALYSIS OF CHA14GES IN FUNDS
At 1.9.23
Cath flow
At 31.7.24
N¢t cash
Cash at bank and In hand
97,366
(39,073)
58,293
97,366
(39,073)
58,293
D•bt
Finance kases
(27,331)
6.892
(20,439)
(27,331)
6,892
(20,439)
Tolal
70,035
<32,181)
37,854
The I￿leS ftym part of these finandal statements
Page 14

Heart of Blmilngham Vocatlonal College
L5mlted
Notes to the finandal Ststements
for the perfcKI I September 2023 to 31]uty 2024
CHARifABLe COMPANY INFORP4ATION
The Heart of ￿M11n9haM VocaUMal college L[rnI￿j Is a wivate Iwnibj charitsb￿ cwany lIn￿ted by guarant
not havin9 share Cakytal, incorpxaled and domicifed in EThJland and Wales. The re915tered Offi￿ Is 328-332
8romford Lane, WashwctrJd H&ith, Blm)irvJham, England, B8 2SD.
ACCOUNTING POUCIES
Oagls of pr¢parlng the flnandal statements
The financial ststeM￿1ts ol the charitatde o)mp3nyi whkh Is a public benefrt entity under FRS 102, have been
prepared In a￿ordance with the Charits'es SORP (FRS 102) 'ACcO￿ting and Rel￿1￿9 ty Charltle5: Statement of
Recommended Pra¢ll￿ applicable to thor￿e5 preparfn9 thelr ac£ounts in aCc￿dance vlth the Flnandal ReF(Jrt6ng
Standard apkqlcable In the UK and Rewblk of Ireland (FRS 102) (effectlve l January 2019)., FI￿1ncIal Rewrt6ng
Stsndard 102 The Flnartld Repjtmng Standard appllcable In the UK and Republtc of Ireland, and the Companl
Art 2006. The fina￿la1 statements have been preparthl thider ￿ hlstorfcal cost conventt￿.
Cfltlcal accoufttlno Judgements and l(ey sourcu of esumètlon untertalnty
Estlmates and Judgemnts are Clinthualty evaluated armj a￿ based on hlstorfcal PJFerfence and ot￿r fact￿S,
Indudino ext*LtsUons of fvtuie events that are Wleved to be reasonable under the drcurnstan￿, The ¢xJmpany
mokes esumates and asstjmpttons cryKernlrrfJ the fubjre. The rewltlng 8ccouniliig tsumates WMI, by defin￿On,
sddom equal the related actual regjlts. The dlrLXtor5 do not belleve there are any assumptyons that have a
sl9nltsnt dsk of causlng a materlJl adjusljnent to the Canwng amounts of assets and Ilablltties wlthln the n
nandal year,
Ineoma
All Income Is recc•JnW In the Ststement of Flrlandal Acbvitles On￿ the thartty has entJUement b) the lunds, It Is
probable that the income viill be rLYelv&Y and the amount can be measured rdlabty.
EXpendI￿re
LlabllKles are recognksed as exp￿￿11(U￿ as 9X￿ as there Is a legal or {￿strUCts1e obllgauon corn￿￿￿ the
(h3rty lo that expendibjre, It Is kyobabte that a transfer of eo)n(¥nlc benefi15 WMI be requI￿d In SellJ￿nenI and
the amwnt of the oblèaljon can ￿ meawred ieli4bly. Expenditufe Is accounted ftK on an OCCfua15 bats and has
been classlfvj urbjer headlngs that ￿legate all cost telated to the ote90ry. Vtheie rosts ￿nn01 te d
a1ts1buW to partfojlar headi¢vJs they have LEen all(￿t￿￿ to adfvtttes on a basls conslstent wlth the use of
resourca,
IIre￿verdb1e VAT Is tharged as a o)st a9alnst Ihe activlty fv whlth the expendltsj￿ was Inwrred,
Allocatlon and apportlonm•nt of costs
All costs are alkKated between È<pendiiure cawes In the Ststement of Flnandal Actmlles on a basb
to reftect the use of the resour&.
T8n9lble flx•d •ss4ts
Depr￿l￿OnI$ provlded at the foll￿￿n9 annual rntes In order to write c4f each asset over Its estjmated usefvl Ile,
Hxiu￿s and fittlngs
Motor vehides
Computer wulpment
209/0 on cost
20% on cost
20% on cost
T•xatlon
The d)3rfty is exempt from ccKporai1￿ tsx on thariiat4e 3thiii
Fund a¢<ountlng
un￿strIcted fvnds Can be us8J In ac(ordarts wlth the tharitable objeclfves at the ￿￿etIon of the tnjstees.
Restrkted furKls can onty be used for partlcul¥ r￿tted purp)ses wlthln the obJ￿ts of the charity. Restrfclfon5
arlse when spedlled by the donor oi when ftjnds are ralsed for partlcular restrkted wrp)ses.
Further explarauon Oru￿ natu￿ and purpose c< each fund b Ind￿￿1 In the nclts to tho finwKial ststements.
Page 15
conbnued..,

Heart of Bimin9ham Vcutional (￿lege
Limlted
Notes to the Ftnandal sratsments- contlnue<J
for the period I Sepiember 2023 to 31 July 2024
ACCOUNTING POLICIES- contlnued
Penslon (¢sts and other post-r¢tlrement benefits
Retirefflent benents to ernployees or the tharlty a￿ wovkled by the Teacherg Pen5k¥) SchTh and the L￿11
Government pen￿1￿ Sckwne, These are defined benefit sthmes. As ststed In Note 17 the Teathe￿, Penslon
Scheme Is a muiil.emptoyer stheme and there Is Insuffldenl InfonTo1ion to Use defined acwuntlw. OnW a
mlnorlty of the d)èriVs employees are In the Lo(01 Government Pe￿5[on Stherne arKI consequenuy no f￿al
vdu8ilon cé the stheme I￿￿11ty has teen obtrlned for these Ilnancial ststements. Both s£hemes are therefore
treated as dellned ￿ntrtl￿rtl0n schemes for ac(c￿ltIng PU￿ a￿1 thè conblbutk)ns payable aR d￿r9ed to
the Statemenr of Finandal Activi¥es In the to whkh they relats.
Flnanclil Instruments
The Ch￿￿ty enters Inio baslc financlal 1nstrurl￿ts trnnsacllors that lèsult In the reo)gnltson of finandal assets
and IlabNths Ilke trade det*ors and trade uedrtrss and loan5 ftom conneded companieg. det* Instruments
are measured at the of the ffish or other conskleraoon ex[￿(￿1 to be or pald.
Current assét Investment
The curyent asset Investment, telng a freehokl pmperty awaklThJ $31e, Is rwnlsed at the bwer of Ib former
depreclated cost and Its net reallzable value.
DONATIONS AND LEGACIES
Perfc#d
1.9.23
to
31.7.24
Year Endgj
31.8.23
Parentsl donat1ffi5
(Xher In￿rne
31,649
4,848
37,268
9,630
36,497
46,898
INCOME FROM CHARrrABLE AcnvIrxES
Per￿1
1.9,23
to
31.7,24
Year Ended
31.8.23
ALI1thty
Educauon
Educallon
Educallon
Educauon
Educatlon
Educallon
Eduotlon
Edutallon
Educatlon
Education
Educallon
ESFA Inc¢me
LcKal authorlty Inccme
Dept ol EdLKaUon
Dept for Work & Penslor
SoUhLs11 coundl
Walsall ajuncll
Worcestwshlre ¢(￿ncIl
Warn¥kkshlre cwn
WiThJles kncome
IntemsNp supr￿ Inco
Other restrlrted Inc¢
1,526,121
1,792,798
143,616
31,B50
25,633
6,867
20,601
10,606
44,390
12,lJ(K)
9,525
1,409,821
1,587,525
111.208
20.990
18,639
10,062
13,734
25,891
13,747
3,624.￿7
3,211,617
Pa9e 16
o)ntlnued...

Heart of Blmilnglkim VcKaiional College
Umlt
Notes to the Flnandal Ststen*nts - (rJntFnued
for the pedod I September 2023 to 31 July 2024
CHARITABLE ACTIVMES COSTS
Suppjt
costs (see
te6)
DlrtKt
Toials
EducAtt
2.761,973
753,034
3,515,007
SLIPPORT COSTS
Other
Educati(
753,034
Support costs, Indudèj In the above, are as follows:
Other
1.9.23
to
31.7.24
Year Ended
31.8.23
Total
acVvltl85
Education
Catering
Markettng
Rent ard rates
Waler rates
Waste coHedlon
Cleaning
Gas & efethclty
0￿e costs
Phone & mollle
Subscdptlons & membershlps
Legal & woftssional fees
Insurance
Auditors lee
Repalts & r￿L￿val5
Health & safety
Bank tharges & Interest
Depredation
IT exFendittKe
Genernl expenses
64,429
4,280
372,820
4,194
9,073
,188
13,917
15,789
15,489
41,100
13,570
15,713
8.853
9,774
10,632
154
52,551
55,725
783
65,551
1,784
332,354
3,304
8,367
42,674
IQ,003
17,437
16,629
32,138
22,263
14,230
10,714
7,555
31,232
162
57,338
57,302
753,034
731,037
NEr ItlCOMEI(EXPENDrnIRE)
Net InComel(exrond￿re) Is ststed after ch¥glngl{creditlrvJ):
Perff
1,9.23
Year Ended
31.8.23
31.7.24
rkpredation . owned assets
Aud1￿$ fees. statut(yy audit
52,551
57,338
6,600
Page 17
ojnilnued...

Heart of Birnlftgham Vlxationèl Cdlege
Umlted
Notes to the flnanclal Ststements- contlnued
for the peflod I Septefflber 2023 to 31 ju￿ 2024
TRusfEES' REMUNERATION AIID BENEFITS
There wete no trustee5' rernuKrati￿ or other benEfits for the pertod endwj 31 ju￿ 2024 for the year end
31 August 2023.
Trust¢e¢ oxpenx4
There were no trustee¥ exF*nses pald for the pethd emed 31 July 2024 nor the year ended 31 August 2023,
STAFF cosrs
Peric#l
1.9.23
Year Endbj
31.8.23
31.7.24
Wages atKI Sala￿e5
Sc(bl security costs
0￿1 pensiM c05ts
2,141,450
199,195
195,337
2,128,612
198,649
191,642
2,535,982
2,518,903
The average monthtyl numbv of emthees duiiNJ the perlod was as folbws:
PeA
1.9,23
Ytsr Ended
31,8,23
81
31.7.24
Totsl
One emF4oyee rec*ved ern￿lurnents In ex￿5 of E60,0(A), rettlvhg emdwnents between £70,000 & £80,000
(2023: One).
10. COMPARATIVES FOR ThE STATEMENT OF FItIANcfAL AcnvmES
Unrestrlcted Restrkted
fuThJ
fvnds
Totsl
fvnds
INCOME AND ENDOWMENTS FROM
Donath)ns and le9ades
46,898
46,898
Charllablq acdvltles
Educau
3,179,975
31,642
3,211,617
Total
3,226,873
31,642
3,258,515
EXPENDrnIRE ON
ChaTltable acttvltles
Education
3,391,260
3,419,547
other
2,800
2,800
Tolal
3,394,060
28,287
3,422,347
NET INCOMEI(EXPENDrruRE)
(167,187)
3,355
(163,832)
RECONCXUATION OF FUNDS
Total fUr￿S br￿ght fornard
308,242
308,242
Page 18
o)ntynuoJ...

Heart of131miiWam Vcrflilonal College
Llmlted
Notes to the FlnandBI Ststements- contlnued
lor the I sept￿￿[ 2023 to 31 Juty 2024
10. COMPARATIVES FOR THE sfATEMEiif OF FINANCIAL ACTIVThXES- c4ntinued
Unrestricted Re4JicteO
Totsl
funds
TOTAL FUNDS CARIUED FORWAIID
141,055
3,355
144,410
11, TANGIOLE nxeD ASSErs
Inyovements Fithres
lo
operty
Motor
vehkles
Comwter
equlpment
fiitlngs
Totats
COST
At l ￿pteM￿l 2023
Addltlons
213,613
88.129
74,981
44,014
97,554
79,905
1,137
466,053
133,280
At 31 Juty 2024
301.742
118,995
97,554
81,042
$99,333
DEPRECIATION
At I Seplemlw 2023
Charge year
27,678
13,830
38,007
8.069
37,922
17,885
48,847
12,767
152,454
S2,SSI
At 31 Juty 2024
41,508
46,076
55,897
61,614
205,005
NEf BOOK VALUE
At 31 Juty 2024
260,234
72,919
41,747
19,428
394,328
At 31 AUg(￿t 2023
185,935
36,974
59,632
31,058
313,599
12. DEBTORS: Amourirs FALUNG DUE wfTMIM ONE YEAR
2024
2023
Trade debtots
Other debtots
p￿paYMents and accwed Income
16,347
61,100
6,621
44,699
9,392
84,068
54,091
13. CREDffoRS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR
2024
2023
Htr6 p￿rd￿se (see note 15)
Trade crejthrs
S￿13[ security and other laxes
Other crojltors
Acctuals and defelled income
7,518
89,683
95,269
37,358
6,6QO
7,518
53,305
47,396
17,805
174,809
236,428
300,833
Page 19
n¥nued...

Heart of Blmilngham V￿tiOnal ¢x41&Je
UmRed
Notes to the FIna￿la1 Ststements - contlnued
for the pericKI I Septembw 2023 to 31 Juty 2024
14.
CREDrroRS: AMOUNTS FALUNG DUE AFTER MORE ThAN ONE YEAR
2024
2023
Hiie purthase (see rote 15)
12,921
19,813
15.
LEASING AGREEMEPUS
Mlnknum lease payments ftdll iJJe as follobv5:
Hlre puthase contracts
2024
2023
Net obllgètions repayable:
withln one year
Beiween one and flve yea
7,518
12,921
7,518
19,813
20,439
27,331
Non￿n￿l*ble cffjerntlng
leases
2024
2023
Wllhln cme year
8elJYoen one and five years
66,393
199,016
43,393
74,016
26S,409
117.409
16. sEcu￿D DEBTS
The followlng se￿red debts a￿ Induded wlthln ueditor5:
2024
2023
Hlre Purthase
20,439
27,331
17. MOVÉMENT IN FUNDS
Net
n￿v￿nent
In funds
At
31.7.24
At 1.9.23
Unrertrfrted fund•
Gwrdl fund
141,054
137,005
278,059
Raytrlthql funds
S¢rewfix Foundati
NNS Seeé Sensatton
Food Legends
CW Communlty
2,346
{1,480)
6,827
(947)
1,525
866
6,827
63
1,525
I,oio
3,356
5,925
9,281
TOTAL FUhlDS
144,4AO
142,930
287,340
Page 20
contirtued...

Heart of W￿l￿ghaM Vcobonal Coll4e
Llmlted
Notes to the Flnandal Statements - continued
for the period I Septembei 2023 to 31 July 2024
17.
MOVEMENT IN FUNDS- conllnued
Net MOvem￿t In fvnds, Induded In the atNJve are as follows:
Incomlng
Re50ur
resour￿ upended
Movement
funds
Unr¢5trlcteAI fund$
Genwal fiJrNI
3,650,979
(3,513,974)
137,005
Restrlcted lundb
Windles Communty Hub
vthx FouTraation
NNS Seed Sen5alkn
Fcoj Legends
Cow Commurdty
500
(500)
(1,480)
{673)
{947)
(1.4BO)
6,827
(947)
1,525
1,525
9,525
(3,600)
5,925
TOTAL FUNDS
3,660,504
(3,517,574)
142,930
rA)mparntlvts for movefflert In fundg
Net
n￿Vefflent
In fijnds
At
31,8.23
At 1.9.22
Unr•strl¢t¢d funds
Genernl fu
308,242
(167,188)
141,054
RothLted lund•
Screwfix Foundauon
Fojj L¢wids
2,346
I,oio
I,oio
3,356
3,356
TOTAL FUNDS
308,242
(163,832)
144,410
Comparattve net rnovement In fuThls, IrKluded In the the are as foHows:
IncomNyJ
Resour
resour￿ ex￿nded
MoV￿nefit
In fvnds
Unrestrlcte41 fund*
Generdl fvnd
3,226,873
{3,394,061)
(167,188)
Restrfrt¢d funds
Wlr¥Jles Communlty Hub
scre￿ Foundauc
NNS Se&J Sen5al
Fcr*J Legends
17,895
4,400
7,5CN)
I￿47
(17,895)
(2,054)
(7,500)
(837)
I,oio
31,fA2
(28,286)
3,356
TOTAL FUNDS
3,258,515
(3,422,347)
(163,832)
WlrKJles Cornmunty Hub
Page 21
Ojntlnu￿...

Heart of Blmilngham Vcr4llonal Colkge
Umiled
Not&5 to the FinaTrJal Ststerrthts- contlnued
for the pericrfj I Septemlw 2023 to 31 July 2024
17.
MOVEMENT IN FUNDS- contlnued
Fundkng towards rrfk)t of Wndles Comrnunty Hub to allow yourKJ adutts to access transferrable skills Into adu
Ilfe. Provldlw l)esF<)ke aclivtties and experien￿, and allowing them to exF4ore the Ic(al comm￿ty.
S¢Je%￿X Foundatlon
Rfrflt and refurbish tdlet blrKk at Blackplt Lane alkkn)ents and make acctssbk for our learne￿.
NNS Seed Fourthtljn
To set up a workjng allotsnent at Blackpit Lane for ow leamers to aLKess a Gardenln9 Chjb for outdoor activltles
aTrJ CYJmmunlty engag￿n￿t. In a$s￿l3111)n ￿ryth Ward ErKI Gordeners A5s(datson.
Food Legends
To build and m?Intaln a fulty Induthe, acctsslble allotrrwit Spa￿ onwslte at thelr base at Edgba5ton Prfory Club
(EPC).
18. RELATED PARTY DISCLOSURES
The key management per5wnel of tpe charfty compr1* the TNstees, the PrtndFoI and the Head of Sthdent
SeNlce5. The total employee i￿neNts of key management pe￿)nnel of the chjrfty were £218,231 (2023:
£115,385).
19. PENSION COMMrrMENTS
The charft3ble ccthpanvs emphye¢s teljng to two prtndpal pensbn s¢henTrs: the Teatt*r< Penslon Stheme
Etyland and Wales (Trs) for acadèmlc and related #Jff; and the Lc¢31 (l)vemment Penslon Schvne {LGPS) fc
non.teachlng stsff. Both are mulU.empk)yer defined benefit schemes.
The latest artuarial valuatlon ol TPS rdètth11o the perknl ended 3114arch 2012 and of the LGPS 31 Maich
2016.
Contrlbullons amwnting to £36,950 We￿ ptyable to the schemes at 31 Juty 2024 (2023,. É16,660) and are
Induded wthln ueditors.
Teache￿ p￿S1On Scheme
IntrLhJucUon
The Teath*s' Penslth Stheme (TPS) Is a siaiutoryi contrfbutoryi dthed bmefit xheme, govemed by the
Teachers, Penslons Regu￿kn$ (2010) ano, from l April 2014, by the Te0th￿; Pension Stheme Regulatlons
2014. Membershlp Is automallc for fvll.tlrne teathers In a(3demles and, from l January 2007. a￿OrnaUC for
teathe￿ In part-tlme employment foHowing apOntsnent or a charoe of conw although are able to opt
out.
The TPS Is an unfvnd*J scheme and memtas on a 'pay as you g), basls . these rnnblbuvons along
wlth tho* mède by ¢mpbyers are uedff(ed to the ExchÈNuw. Retlrement and other pen51L¥i terefits are pald by
publlc fvnds promded by Patllament.
Valualion of the Teathers, Penslon Stheme
Not less tharn every ftyJr years tho Govemwent Actuaryi U51ThJ ￿rMal actuarlal prlnclples, crsrKltKts a formal
aLI)Jarfal revlew of the TPS In a¢￿dan￿ th the PubHr SdVI￿ Pen5ion5 (Valuatlms and Emfver C95t Cap)
Dlr&tli>ns 2014 pubFished by HM Tre05Ury. Ihe alm of the revlew Is to Sk*dfy the ILvel of future contrlbudons.
Aduarlal scheme valuati￿5 are de￿Trjent orn aswmptjons atout the value of fubjre costs, or teneffts
many other fartors, The latest ac￿ar￿al valuauon of the TPS was carrled out as at 31 Marth 2020 and In
aMydan￿ with the ￿bIt knlce Pensths ￿aluatIOnS and Emptyer Cost Cap) DlreLkns 2014. The v&uatlon
rewrt was pu￿Ished by the Deparbiient for EducaU(M on 27 October 2023. The W elements of the valuatlon
and subsequent consultatlon are:
- empbyer contrSbutlon rate5 set at 28.680/0 of Fenslonable pay (IndudlThJ 0.08% ern￿Oyer admlnlstratton tharge
<currentty 23.68%)
Page 22
contsnued...

Heart of Blrmlngham VIKaiioftal College
Umlted
Notes to the Fitmndal Statemen15- contlnued
f¢y the peri(￿1 I September 2023 to 31 July 2024
19.
PENSION COMMtrMENTS- conllnu
A copy of the valuaU(M) report and gJkWrtlw d￿l￿enlalkInI5 on Yie Teacherg Penslon web￿te.
Under the deflnitions sel out In FRS 102, the TPS Is a rnuki*mployer penslon ￿herne. The (harity has accounted
for Ils conthbutions to the stheme as if it were a defined cnntributton 5theme. The charity hos set out above the
Infomatlon availatAe on the xheme.
LttAI Govermient Penslon Stheme
The LGPS Is a funded defined be￿t perston scheme, wlth the assets hekj In separate trusttradmlnlstered
fvnd5.
Due to the fact that onty a mlrnrity of the charivs empbyees are In the L￿81 Govemment Pensson Stheme, no
formal valuauon of the sthem Ilat41rty has bÈen Lthlra for finaThJal statements. The chahty has
ccounted for Ifs conirfbutfons to the scheme as If it wore a defined contribuuon xheme.
The tol31 Contrib￿%)n5 to defined benefit penslm fecognised as an erfpe￿ for the year ended 31 Juty
2024 were £195,337 (2023: £191,642).
Page 23

Heart of Bimilngham Vctsbonal thlege
Umited
Cttslled Ststement ofHnandal Athitle5
for the i Sewember 2023 to 31 July 2024
PerfcKI
1.9.23
YwEn
31.8.23
31.7.24
INCOME AND ENDOWMENTS
Donatlons and legaclL8
Parental donations
Other IrKome
31,649
4,848
37,268
9,630
36,497
46,898
Charltsble actlvltleg
ESFA Income
Local authorfty I￿oMe
Dept of Educaym
Dept for Work & Pen51on5
Sollhum coundl
Walsall coundl
Worc&4tersNre councll
Warnylckshire coundl
Wlndles Income
Intern5hlp suppyt Income
Other restrkted Income
1,526,121
1,792,798
143,616
31,850
25,633
6,867
20,601
10,6L16
44,390
12,ch)O
9,S25
1,409,821
1,587,525
111,208
20,990
18,639
10,062
13,734
25,891
13,747
3,624,007
3,211,617
Totsl Incornlng rexiur(49
3,660,504
3,258,515
EXPENDMIRI
Charftsble a¢tlvltl4s
Salary costs
91 security
Pen51ons
A9ency stsff
2,141,450
199,195
195,337
43,415
15,337
67,402
22,308
35,08S
42,444
2,128,612
198,649
191,642
19,036
15,870
69,246
15,799
49,656
Transport actNiiles
Stsff tralning
ShKlent suP￿rt costs
Sludent Intem5hlp supFort costs
2,761,973
2,688,510
Other
Hke wrchase
2,567
2,800
Support C4Mts
Caterfng
MarketlNJ
Rent and rates
Water rote5
Canied fonvard
64,429
4,280
372,820
4,194
445,723
65,551
1,784
332,354
3,304
402,993
Tlis pagE doe5 r￿t form part of the siatuw fina￿7)1 ststements
Page 24

Heart of Bimilngl¥3rn v￿tIOnal C(Alege
Llmlted
Deialkd Ststement of Ftnandal Artivttles
for ihe FErk¥J I September 2023 to 31 Juty 2024
Perioj
1.9.23
Year En
tjed
31.7.24
31.8.23
Other
Brought lonyard
Waste collecilon
aeaning
Gas & elpxtrt¢lty
Offlce costs
Phme & moblk
Sub￿￿pu0￿s & membernNps
LwJal & professlonal fees
Insufan
Audlth fee
Repalrs & renewals
Health & safety
8ank charges & Interest
Depredat
IT e￿i￿re
General expenses
445,723
9,073
44,188
13,917
15,789
15,489
41,lOQ
13,570
15,713
8,853
9,774
10,632
154
52,551
55,725
783
4D2,993
8,367
42.674
10,¢X)3
17,437
16,629
32,138
22,263
14,230
10,714
7,555
31,232
162
57,338
57,302
753,034
731,037
Totsl restsur￿ expended
3,517,574
3,422,347
N•t Incom•i(&Ypendl￿rfj>
142,930
1163,832)
Th15 page thes not fomi part d the ststuw financial statements
Page 25