REGISI"ERED COMPANY NUMBER.. 11193702 (ENGLAND AND WALES) REGISTERED CHARITY NUMBER: 1180681 BLACK MOUNTAINS COLLEGE PROJECT (A company limited by guarantee) ANNUAL REVIEW AND FIiYANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
BLACK MOUNTAINS COLLEGE PROJECT CONTENTS FOR THE YEAR ENDED TO 31 JULY 2024 P*ge Legal and Adminlstrative Detalls Report of the Trnstees Report of the Independent Examiner Stotement of Flnancisl Actlvltle5 Balance Sheet Notes to the FiDanci#l Statements
BLACK MOUNTAINS COLLEGE PROJECT LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED TO 31 JULY 2024 Dire¢torslTrustees Chris Blake Havard Prosser (resign¢d 5 Jun¢ 2024) George Littlejohn (r¢si8ned 5 June 2024) Karl Wills Shirish Kulkarni Aliee Tahetzadeh Keri Fac¢r {resign¢d 5 Nov¢mber 2023) Sophie Howe Eric Lybeck (appointed 6 June 20241 Martin Burk¢ (Ap)]t(d 6 June 2024) Joatui¢ Roxburgh (appointed 6 June 2024) Ruth Potts (appoinl¢d 4 March 2024) Registered Office Unit 3 Greai House Barr New Stffet Talgarth Brecon LD3 OAH Registered Ch4rlty Number 1180681 Re¥istered Company Number 11193702 Reporting Accountants WJJames&Co Bishop House 10 Wheaf Street Breco Powys LD3 7DG Bankers Barclay5 Bat)k PIC Worcesier 2 Lei¢¢giershire England LE87 2BB
BLACK MOUNTAINS COLLEGE PROJECT LEGAL AND ADMINISTRATIVE INFORIIQATION FOR THE YEAR ENDED TO 31 JUL Y 2024 AIMS AND OBJECTIVES As slated in its Articles, Black Mountains College Project (BMC) is a project for the establithment of a I1 4nA fiirpF4pr pai-.r-t-'n-. STRUCTiIRE, GOVERNANCE AND MANAGEMEI¥T Black Mountains Community Project, trading as BMC, is a wnpany limited by guarantee, registered with Companies House in England and Wales with the number 11193702. R¢gistered office addr¢s$ is Unil 3 Great House Barns, New Str¢d, Talgarth, Brecon, Wales, LD3 OAH Company type 1$ listed as 'Private Limited Company by guarantee withoul 8har¢ capital use of Limit¢d' exemption.. Incoryorat¢d on 7 February 2018. The naluTr of BMC business (SIC) is listed &s.' 85410 - Post-secondary Tton-teniary education 85421- firsl-degree level higher education 85600 - Educational support service8 BMC is rcgistered with The Charity Commission. wrth the number.. 1180681. Registration was approved on 14 Nov¢mber 2018. The charity is governed by the M¢morandum and Articles of Association lodged with Compani¢$ House and dated 7 Febnwy 2018. RECRUITMENT AND APPOINTMENT OF TRUSTEES During the financial year. new tnteeS were appointed as follows: _ Ruth Potls ETiC Lybeck Martin Burke Joann¢ Roxburgh The following tnLStees came to th¢ end of their term: _ Havard Prosser George Littlejohn Karl Willis was re-appointed for e second thrce-year terni. Chris Blake serves as chair for th¢ period.
BLACK MOUNTAINS COLLEGE PROJECT LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED TO 31 JULY 2024 CHAIRMAN'S REPORT Overvlew 2023124 was significant year for the charity. It was the Ihird year of teachin& saw the launch of several new teaching activities, the establishment of a trading subsidiary and an increase in students and staty. Investment and trading subsidiary A trading subsidiary was establish¢d, Black Mountains College Operalions Lid. in which the harity maintained a 780/0 Stake. Social investors took equity of 220/0. The subsidiary delivers fornial education provision on behalf of the charity. MgJor grants and a¢tiviti¢s Thc charity was successful 111 a partnership bid for a community asset transfer and related award of Levelling Up funds from UK gov¢n)meni for th¢ renovation ofthe fonner youih Centre Talgarth in May 2024. The college launched a new und¢rgraduate degree progrnmnje. BA {Hons) Sustainable Futhres. Arts, Ecology and Syslem,q r.hange. The degree is validaled by Cardiff Metropolitsn University. The inaugural cohort of14 enrolled in September 2023. A n¢w campus was cslablished in Treherbert in parther8hip with community organizalion Welcome to Our Woods. Educftiion commenced with the delivery of 2 NVQ Level 2 cours¢s" Regenerative Horttculture and Coppicing and Greenwood Trades. Totsl enro]menls for the year w¢re around 65 stydents. PUBLIC BENEFIT The charity wag registered with The Charity Commission, met the requirements of registration. and has had regard io the Commission's guidance on public benefit duriiig the period.
BLACK MOUNTAINS COLLEGE PROJECT LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED TO 31 JULY 2024 ANNUAL STATEMENT OF FUNDii4isif4G This statement c4)ver the reouirement charities must follow &8 $¢1 out in the Charitie5 (Protection and Social inv¢51jVI1J ZiilD. Black Mountains College is r¢gistered with the Fundraising Regulator and is committed to the Fundraising Promise and adherence to the Code of Fundraising PrdCti¢¢. Our Development Director is a full rnember of th¢ Chartered Institute to Fundraising. Our ndraiSing effort involvtt encouraging dottations through grant applications and community ndraising activity. All fundrdising activity to date has been ¢arried out in-house. and we havc no immediate plans to engiage third party professional fundraisers. Polici¢s and procedures are in place covering dl Asp¢¢ts of fundraising. including donations from vulnerable peopl¢ and deAling with complaints. We have had no complaints in this accountin¥ period. In 2023124, it cost 115 £567.740 10 deliver our charitable purpos¢. Approximately 65.6•kn of total incoming r¢sources came from trust and foundations, ond 34.5V/o came from ststutory sources. OY¢r th¢ la3112 mollths we bave been successfully in a¢¢¢ssing funding from StOry 2nd trusts and foundations for future seThie¢ d¢livw. including capitsl ndIng. We have also acce$$ed s¢ed fLJnding t0gh social investment iodev¢lop and deliver our academic PT(wamme. RESERVES POLECY As at 31 July 2024 BIAck Mountains College Project h¢ld general reserves of £79,240. This was made up of £74,509 in reslricl¢d rerVeS and a surp1$ of £4,731 in generdl reserves. The Irust¢es recognize that the unr¢slricted reserve 18 low¢r thaD the 3-month reserve policy. This has been ¢Jriv¢n by slart-llp ¢08ts and one-off $ts in¢uTred whilst invesling in Black hqountains College Operations Limited. The ttvsi¢¢s meet regularly to discuss this, and R Finance and Audit Commltleehas been tasked with continuous moniioring of the situation. Moving forward the charity is a¢iively fundrai$in¥ for unrestricted reserves and ideniifying wider income streanis.
BLACK MOUNTAINS COLLEGE PROJECT LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED TO 31 JULY 2024 STATEMENT OF TRUSTKESI RESPONSIBILITIES The trust¢es (who ar¢ also the directors of Black Mountains Colleg¢ Project for the purposes of company law) are responsibl¢ for preparing the Trustees, Annual Report and the financial stat¢tn¢nls in a¢cordanc¢ with applicablc law and United Kingdom Arcounting Standards (United Kingdom Generally Accept¢d Accotinb. Practice)- Company law requires th¢ truslces io prepare fmancial statements for each fmancial year which give a true and fair view of ihe slate of affairs of th¢ charitable company and of the in¢oming r¢5ources and application of resources, includink the income and exp¢nditure, of thc ¢hAritable company for Lhat period. In pr¢paring those financial statements, the tStee5 are required to.. s¢l¢ci suitable accounting policies and then apply them consistently* observe the methods and PTinciples in the Charities SORP 2019 (FRS 102). make judg¢ments aiid utijnates that 8re reasonable and pdent- slate whether appli¢able UK Accounting Standards have been followed. subject lo any material departur¢s disclosed and explained in the finanrial statem¢nts- prepare th¢ financial siatements on th¢ going con¢¢m basis unless il is inapproprial¢ to presume that the chaTitable company will continue in operation. Th¢ trustees are r¢sponsible forke¢ping adequate acCountig records that disclose wilh reasonable accuTacy at any lime Ihe financial position of th¢ ¢haritable ¢ompany 2nd enable thrA to ensure that the financial statements comply w'ith the Con)panies Act 2(M)6. They are also rpOnSible for safeguarding the assets of the charitable company and hence for iaking reasonable si¢ps for th¢ prevention and dde¢lion of frnud and other iTregulariti¢s. Approved by the In]stees and signed on their behalf by: Chris Blake Chair Date
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BLACK MouKfAINS COLLEGE PROJECT -e&L. July 2024 which ar¢ s¢t out on pages 7 to 23. Responslbllltles and b451s of report As the charity trust¢¢s of the company (and also it8 dir¢etors for the puryjoses of company law) you are responsible for the pr¢paration of the accounts in a¢¢ordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the ¢ompany are not required to be audited under Part 16 of the 2006 Act and are eli¥ibl¢ for independent exaTnination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities 2011 ('the 2011 Act'}. carrying out my examinalion I have followed the Directions givenby the Charilycommission under section 145(5)(b) of the 2011 Act. Independent ex*mlner's statellLent I have complcted my examination. I confirnj that no matter5 have ¢om¢ to my &ttention in conne¢tion with the examination givjIigF me caus¢ to believe that in any Material resp¢et'. accounling reLords were not kept in resp¢ct of the company a5 requir¢d by section 386 of the 2006 Act. the acrounts do not accord with those records. or the accounis do not comply with the aceounting requirements of section 396 of the 2006 other than any requirement that the accounts give a 'true and fair view. whiLh is not a matter considv¢d as part of an independent examination. or the ac¢ounts have not been pr¢pared in eceordance with the methods and principles of the Siatement of Recommended Practice for ao¢ounting and reporting by Charities applicable to charities preparing their accollnts in accordance with the Financia] Reporting Standard applicable in the UK and Republic of treland (FRS 102). I have TJO concerns ai)d hav¢ come across no other matters in ¢onnection with the examination to which atlentlOD should be drawn in this report in order to abl¢ a proper understanding of ihe accounts to be reached. hCodtrlA J M Roderi¢k Bsc ACA W J J8ffles & Co. Chartered Acrounlant Bishop House 10 Wheal Street Brecon Po5
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 Year Ended 31 July 2024 Unrestricted Funds Restricted Funds Year Ended 31 Jul 2023 P4ote Incoming From: Donations Charitable Activities Grunis and cvnlructs Higher and Furiher Edyculion 9,951 9.951 9,796 79.289 355,773 435,062 386,095 2,540 28.408 2,540 28,408 168,553 29,617 Farni Income Investment income Inleresl receEved Oiher income 3,560 3,560 471 6,572 Total In¢ome 123,748 355,773 479,521 1,104 L¥penditure On: Charitable activities 170.864 396,876 567.740 583,580 Total F.xpenditure 170,864 396,876 567,740 583,580 Net Ineomel(expendlture) 47.1 Ihl I%A'.21 ()} 17,524 Trgnsfers between fund5 15 5,508 Tr4el Movement fin fund$ 1.5),()-J41 J5 SL)S1 17,524 Total fundg gt start of period Total funds gt end of period 57,355 110.104 167.459 149,935 79,240 167459 The Charity has no recognised gains or loss¢s other than the T¢sults for ihe year as set out above. All of ihe activities of the charity are class¢d as continuing. The romparotive funds are delailed in note 9 Th¢ notes on pages 9 to 23 form part of these financial slfitements
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 Year ended 31 July 2024 Year ended 31 July 2023 Note Fixed Assets Tangible fixed assets Investments iu li 144,512 36,000 180,512 74,859 Current Assets D¢biors Cash at bank 12 116,141 424,591 540,732 64.282 302,303 366,585 Creditors: Amounts falllng due within one ye*r Net Current a$&et$ 13 1459.75Jl 80,979 177.03?) 289.553 Total assets less currejht Ilabllfitles Crtditors: Amounts falling due after more than year 261,491 364.412 14 IIS2,2.51} 1196,9.531 Net assets 79,240 167,459 Funds Unre5tri¢ted funds G¢n¢ral funds Restricted lunds 15 15 4,731 74,509 57.355 110,104 79,240 167,459 Th¢ company is aititled to exemption from audit under Section 477 of lh¢ Companies Act 2(K16 for th¢ year ending 31 July 2024. The membeTS have not Tequired the company to obtain an audit of its financial statements for the year ending 31 July 2024 in accordanc¢ with Section 476 of the Companies Act 2006. The directo acknowledge their responsibilities for.. a) ensuring that th¢ Company keeps accounting r¢¢ords which comply with S¢ciion 386 and 387 of Ihe CompaTri¢s Act 2006 and b} preparing financial slat¢ments which givr a true and fair view of th¢ state of affairs of the company as at the end of each financial period and of its PTofit or loss for eacli financial period i accordance wilh the requirements of S¢¢tion 394 and 395 and which oih¢rwise comply with the requir¢ments of the Companies Act 2006 rel&ting to financial 51alemenis, so far as applicable to the company. These financial stat¢m¢nts hdve been pr¢pared in Accordance with th¢ special provisions of Part 15 of the Companies Act 2006 relaling to small ¢ompanies and with th¢ Financial Reponing Standard applieable in the United Kingdom and Republic of Ir¢land (FRS 102). Ap roved o ¢half ofthe board on ..... Chris B ake Chairnian The notes on pages 9 to 23 form part of these financi41 statements
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 l.Aecounting pollcies B4si5 of *¢countlng Th¢ financial stsl¢ments hav¢ been prepared under the historical cost conveniion and Accounting and Reporting by Charities.. Stat¢ment of R¢¢ommended Pra¢lice appli¢able to charities preparing their accounts in a¢¢ordance with the Financial Reporting gtandard applicable ID Ibe Uniid Kingdom and Republic of lTelAnd (FRS102) issu¢d on 16 July 2014 and the Financial Reporting Standard applioble in the United Kingdom 2nd Republic of Ireland (FRS102) and the Charities Act 2011. Black Mountains Coll¢ge Project meets the definilion of a public benefit ¢ntity under FRS 102. Asset5 and liabilities are Initially recogniscd at historical cosi or transaction value unless oth¢rwise slated in the relevant accounting policy note. The chftrity has applied Update Bulletin l as published on 2 February 2016 and dffs not include a eash flow stA(ement on the grounds that it is applying FRS 102 Section IA. The flnancial statements are presented in sl¢iling which is the functional currency of the charity ond rounded to the nearest £. Incoming resource$ Voluntary income including donations, sryfts and grants that providc core funding or are of a generdl nature are rccognised where iher¢ is entitleEn¢nt, certainly of teIpt and th¢ amount ¢an be measured 7th suffirir.nt reliability. Such incomc is only defetred wh¢D'. The donor specifies that tlie &rdnt or donation must only be used in fuiure accounting periods- or The donor has imposed conditions whilh must be D]et before fhe charity has uncondiiional ¢ntitlem¢nt. Irjvcstrhient in¢ome is r¢¢ognised on a receivable basis. Income from charitable activities includes incom¢ received under contt2ct or, where entitlement to grant funding is subjed io specific perforn]an¢e coi)ditions, is recogniscd as earned (as the related goods or services are provided). Grani income included in this cat¢gory provides funding lo suppon activiti¢$ 2nd is recokmis¢d wher¢ ihere is entitlemenr, ccrtainiy of rec¢ipl and th¢ amount can be measur¢d with sufficient reliabilily. In¢ome is d¢fetred when grants are rcceived in advance of the ¢vent to whicli Ihey relate. Volufileers and donsted 5ervi¢es and faeSllties The valiie of service5 wovided by volunteers is not incorporated into th¢se financial staiements. R¢sources expended Liabililies are rognISed as expendiiuye as soon as there is a legal or constructive obligation cotnmitting Ihe cllarity to the expenditure, it is probabl¢ that settlement will be requir¢d and th¢ amount of the obligation can be measured reliably. All expenditure is accounted for on an accrnals basis. Contractual affangements and perfomiance r¢lated grants are recognised as goods or services supplied. Other grant paymenis are r¢cognised when a onstrnctiv¢ obligation arises that re4ulrs in the payment being unavoidablc.
BLACK MOUNTAIIYS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 IAecounting policies Resources expended (eohtlnued...) Costs of &y¢nerating funds are those costs incurred in attracting voluntary in¢ome, and those InLurre(i Jn irdUIII¥ (iLiIVIi1tt4 ljlkXL Iujbf IUAIUb. Charitable activiti¢s include expenditure associaled with ihe prowsion of advo¢acy setvices and include both th¢ direct costs and support costs relaiing lo this actiNIty. Governan¢¢ costs includc those incurred in the governance of lh¢ charity and its assets. and are primarily associated with constitutional and statutory requiremenL8. Support costs include central functions and hav¢ been allocated io athiviry ¢ost categories on a basis consistent WLth the us¢ of resources. Costs are apportion¢d to activities as considered appTopriale. Debtor$ Debtors are recognid ai theiT S¢ttlemeATrt amount due. Prepayments are valu¢d at the amourtt prepaid net of any trade discounts. Cash at bank and in hand Cash at and Cash in hand includes eash and short i¢nn highly liquid investtnenls with a short maturity of three on1h$ or less from thc date of acquisition of the deposit of similar account. Grants re¢oivable Revenue grants are creditcd to the income and exp¢ndIre account on a receipts basis unless they are in resp¢¢t of a specific expw3e. when th¢y 2re crediied in the period in which expenditure is Incu. Capital grants are maiched with ihe relevant eXpedItUye &8 and when inLurr¢d. Until the expenditur¢ is incurred, the grants are caried fonvard. Credltors Creditors and provision% Are Tecognised where the charity has a preseni obligation from a past event th81 will probably res11 ill the transfer of fund to a third party and the amount due lo settle the obligatloli Can be measured or ¢stimaled reliably. Creditors and provisions are nornally recognised at their settlern¢nl amount after allowing for any trade discounts due. Pensions The charitsble company operat¢s a defined contribulion pension sch¢m¢ for its employees. Th¢ assets of the scheme are held scparately from rhose of thc charitable company. b¢ing invested with insurance companies. P¢nsion cosls cliargd in the Statement of Financial Activilies represents contiibution$ payable by the charitable company in th¢ year. Flxed assets Fixed assets costing more than £500 have been capitalis¢d al cosl. Deprecialion is calculated so as to TIte off the cost of an a&set, less its estimated residual value, over the useful economi¢ life of that ass¢t as follows.. Fixtures and Fittings- 25Q/fj Strdight line 0]ce equipm¢nt - 33010 Straigl)t line Motor vehi¢l¢s_ 250/0 Straighi line io
BLACK MOUNTAINS COLLEGE PROJE INDEPEIYDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 l.Aecounting wlleies Resources eipendtd (eontinued... Fund arcountillg Funds held by th¢ charity ar¢ either.. Unrestricledgenertslfunds- thege are funds which can b¢ used in ac¢ordanc¢ with the charitsble objects at the discretion of the trustees. Reslp7eiedfunds- these ar¢ funds that can only be used for particular restricted purposes within lh¢ objects of the charity. Restr5clions aris¢ when spe¢ified by the donor ur when fuJ)ds are raised for particular restricted puq)oses. DesigliaiedfyTs- these are funds set aside by the trustees out of unrcstri¢led general funds for specifi rulure pury)oses OT projects. 2.Grants gnd eontrads For the year ended 31 July 2024 Unre5trieted Funds Restrietsd Fuods Ye*r ended 31 July 2024 Year ended 31 July 2023 National Lotl¢ry Coinmuniiy bund Poys County Coui)¢il The A Ten Foundarion Thc Prince's Countrysid¢ Fund Powys County Coui)cil - UK Coinmunity Renewal Fund Carnelian Ttvst W¢lcome To Our Woods WCVA - Landfil Orani The Roddick Foundation- Welsh Farniing Clusl¢r The Roddick r.oundation - 2324 British Council Esmce Fairbairn Joseph Rowntree Ilousing Trust Open Soriety University Network- CLASP Open Society University Network- Faculty Training Open So¢ieyt University Network- Tearh In Ashden Climatc Powys County Council UKSPF Collective Ima¥ination Practice Collective Fund Pcrennial Green Manures Proj¢¢t 104,064 104,064 134,546 46.100 23,000 11,000 35,148 30,000 66.587 24,714 30.0(M) 30,000 133,174 6,179 133.174 6.179 50.000 14,500 50,000 14.500 27,500 20.000 30,000 15,000 27,500 20,000 30,000 789 1,168 1,957 7255 7255 762 762 1,000 6,266 I,(M)O 6266 1905 500 1,905 500 79.289 355,773 435,062 386,095
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THF. TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 2.Grant$ and eontracls {COlltinNed...) For the year cnded 31 July 2023 Period from I Mar 2021 to 31 Jul Unrestrleted Restricted Year ended ?1 ITilv ?n•2 FTTnrl¢ National Lottery Community Fund Powys County C(>uncil HMRC JRS Grant MWMG DWP Garfield Weston C F In Wales Mark Leonard Trust The A Tearn Foundation The Prince's Countryside Fund Brecon B¢acons Natinoal Park Powys County Council - UK CoJnrnunity Renewal Fund Carnelian Trust Wel¢om¢-I'o Our Woods WCVA- Landfil Grdnt The Rcrtldick Foundation 134.546 134,546 46,100 42,518 56,734 3,503 13,970 6,175 90,000 15.000 30,0(K) 46,100 23,000 23,000 23.0(K) 11.000 11,000 11.0 4.917 35.148 35,148 30,000 30.000 66,587 24.714 66,587 24,714 15.OOn 15,000 309 995 386 095 296,817 3.Other Ineome Year ended 31 July 2024 Unrestricted Fund$ Restricted Funds Year eDd 31 Jul 2023 Trdining services Employment Allowanee Other income 275 6,225 72 12
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 4.F&rm lJ)¢ome Unrestricted Funds Re5trieted unds Year ended 31 July 2024 Y¢ar ended 31 Jul 2023 Jneome Renl and gTazing Rural P&ymenis Wale8- Subsidi¢s Other incom¢ 16,716 247 10,181 1,264 16,716 247 10,181 1,264 493 18.830 10294 28,408 29.617 5.Chgrltable actAvitles For the year eDdtd 31 July 21)24 Wages nd salaries Direct Costs Support cost Year ended 31 July 2024 Yeor ended 31 Jul 2023 Marketing Establislim¢nt of a college of higher and furtliei education Governance 8,323 342,874 137,175 73,274 561,646 577,660 6,094 5.920 8,323 Allocation is based on actual costs ii)cuffed 342.874 143,269 73,274 567.740 583,580 Year ende 31 July 2024 Year ended 31 Jul 2023 Support costs Premises costs Office costs Olli¢r costs L¢gal & Professional Fees 9,100 2,333 41,713 20,128 7,712 8,166 29,309 45,613 73.274 90,800 13
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT FXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 5.Ch4ritable act5Yitles (continued. .) For the yr ended 31 July 2023 Wge$ Perlod from l Mar2D21 tn 31 Jul 2022 Dlreet Costs YeT ende41 31 July 2023 Marketing Cost Establishm¢nt of a ¢oll¢g¢ of higher and rther education Governance 30,723 317,002 139,135 90,800 577,660 441,763 5,920 5,920 4,620 30723 317002 145 055 583 580 Allocation is ba5d on actual costs in¢uff¢d Period from Yearended l Mar 2021 to 31 July 2023 31 Jul 2022 Support ¢ost$ Premises costs Office cogts Other costs Legal & Profcssional Fees 7,712 8,106 29,309 7,318 57235 7,815 45,613 6.N¢t in¢ome for the yur This is Stated after chargiDg: Year ended 31 July 2024 Yeor Ended 31 July 2023 Independent examiner's fees
for independent examination for other accountancy services 2,498 3,596 2,485 3,43.5 No Trustee received remuneration during the year nor any person conne¢ied with ihern, r¢ceived any remuneration from th¢ ¢hariiy during ihe year of previous year. During the year £nil (2023.. Nil) was paid for travel costs and out of pocket expthjses. 14
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 3J JULY 2024 7.Staff ¢o$t$ and numbers Year eJ)ded 31 July 2(J24 Ye4r ellded 31 July 2023 The aggregate payroll costs were: Wages and salaries SociAI security costs Pension Staff Training Other staff costs 327.988 9,606 1,369 3,911 275,578 21,210 5,296 3,279 342 874 317002 No direct employees r¢eeived emoluments of more than £60,000. The iotal employMt benefi1$ r¢¢eived by key management perso[e1 employed directly in thc y¢ar were £4,275 (2023- £51.159). Wages amuunling to £234,907 have be¢n cross chargd from Black Mountains College Operation$ Ltd for the delivery of ¢l)ftritable activities during the year endd 31 July 2024. The average weekly nuniber ofdirectly employed employees dwing the year, ¢alculated on the basis of full time eqlliv21ents, wa8 as follows- Year ended 31 July 2024 Year ended 31 July 2023 Charitable aCliviti&q 20 20 8.Taxation Th¢ charity is ¢x¢mpt from tax on income and gains falling will) 5¥Ylion 505 of th¢ Taxes Ad 1988 or s¢cIIoD 252 of the T&xation of Chargeable Gains Act 1992 10 the eXtt that thcse are applied to its haTiiable objects. 15
BLACK MOUNTAINS COLLEGE PROJECT INDEPEIYDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 9.Comp•ralive Statement of Finanelal Actiwty figures Year ended 31 Jul 23 Unrestricted Funds Restrieted Ftsnds Year ended 31 Jul 2022 Jneoming From: Donations Charitable Activiti¢s Granis and Lunlracls Hi&*her aiid FNriherEduca(io iucome Furm Incoine Invesin)enl income Other inwme 9,796 9,796 80.616 76,100 309,995 386,095 296,817 168,553 29.617 471 6,572 168,553 29,617 471 6.572 73.342 24 7,775 Totsl Income 291 109 309 995 601 104 458 574 Expendlture On: Charitable activities 314,769 268,811 583.580 446,383 Totsl Expenditsre 314.769 268811 583,580 446,383 Net In¢omel(¢xpendlthTe) I'l".fih(11 41,184 17,524 12,191 Transfers behveen funds 24.516 Net movement in funds 856 16.668 17,524 12,191 Tot¥1 funds at start of perlod 56,499 93.436 149,935 137,744 Total funds at end of period 57,355 167459 149 935 16
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 10.Tongible Flxed A$set8 Improvements Fixtures and to property ritting5 Office Motor Equipment Vehicles Total C05t or valuation At l Augu 2023 Additions Disposals 21,839 18,549 10,073 3,320 (10,697) 25.495 57.407 142.454 (10.697) 120.585 Ai 31 July 2024 120,585 40,388 2,696 25,495 189,164 Depre¢latlon Al l August 2023 Charge for the year Eliminated on disposal 8,850 10,097 3.324 898 6.374 6J74 18,548 29.428 12,059 (3,324) 13,32.4) At 31 July 2024 898 12,748 44,652 Net Book Value AÉ 31 July 2024 108,526 21,441 1,798 12,747 144.£12 At 31 July 2023 12,989 38,859 17
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 11.Investment5 Year ¢nd 31 July 2024 Year ended 31 July 2023 invesimeni in SUDsiaiary undertakin 36.000 36,0(M) Total Cost or valuation At l Augusl 2023 Additions 36,0(X) At 31 July 2024 36,000 Net Book Value Al 31 July 2024 36,000 Al 31 July 2023 36.000 Th¢ inijestmenl represent5 a tDajorily shareholding in Black MouDlains College Operations Ltd. Block Mouniains College Pi'oje¥'l owns a subsidiary) Bla¢k Mountains College Operations Ltd {company nuii)ber 14552378}, wliose Inain pury)ose is 10 lake on the operations of the Lirganisation. Th¢ charity holds 36000 ordinary shares of £1 ¢a¢h in ils subsidiary company Black Mountains College Operations Limited which is incorporated in the United Kingdom. The share5 repreg¢ni 8 majority holding. The nominal umount of these shar¢s nas not yet been paid, as detail in the creditors w note 13. 12.Debtors Year tnded Year ejjded 31 July 2024 31 July 2023 Oth¢r debtors Prepayments 54,939 61,202 04,282 116.141
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 13.Creditors: amounts fallSng due within one year Year ended 31 Year ended July 21124 31 July 2023 IA)aTts and boThiwings CTeditors Accruals and deferred income Sorial security and other laxes oiher creditors Amount du¢ to subsidiary undertakillg 27,055 31,326 365,005 367 24,847 ,309 6,707 6,464 ,705 36,000 36.000 459,753 77,032 14.Credltors: 8mounts f811ing due #fter more thjn One year Year ended 31 July 2024 Year ended 31 July 2023 Loans and borrowings 182,251 196,953 182,251 196.953 19
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINFR'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 J5.Movement in funds For year ended 31 July 2024 At IAU¥AJ Imeomlng Outgoing At Restricted funds W¢lcome To Our Woods National LK)itery Circular Economy Building Welsh Water -4shl¢y Family Foundation TheA T¢a Foundation Wales Council for Voluntary Action The Roddick Foundation- We15h Farming Cluster Collective Iinagination Practice Cominunity Jos¢ph Rowt]Iree Housing I'rust Open Society UnivetEity Network- CLASP Op¢n Society Univ¢rsity Network- Faculty Trainiiig Open society Univrfsily Nelivork- Teach In P¢renni21 Green Manures Project The Roddick Foundation- 2324 Powys County Council - UKSPF 46.659 133.175 114(),54UI 33,294 18,563 3,114 104,064 198.009) 11.211il 24.618 89 2,736 5,419 24,821 (24.821} 6,179 16.7,%f,I 13.610 14,500 125.1ti61 2,944 1.905 ,905 30,000 11,748 1.168 7,254 li,?%41 762 500 50.000 6266 355 773 l jUtF,X7iil 08 74,509 Unr¢stricted funds General fvnds 57,355 123.748 4,731 57.355 123 748 4,731 Totil funds 167 459 479521 lSii7.7401 20
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 15.Movernent in fund5 (¢ontinlled) For period ended 3J July 2023 At IAug22 Incomlng resouree5 Outgolng resourc¢$ Tr8n$fer8 31 Jul 23 Restrleted fujjds Welcotn e To Otsr Woods NationAI Lotlery Coinmunity fund Naiional LA)ttery Circular Economy Building Full Circle Climat¢ Boost Welsh Water PoHys County Council- Commun2ty Renew81 Fund Departm¢nt of Work and Pensions Ashley Family Foundation Tlie A l-eam Foundation Th¢ Prince's Country5id¢ Fund Wales CouncAI for Volunlary Action The Roddick Foundation- l ¢elsh Farniing ClustLr 66,587 119.92x1 46,659 23,507 123.S{171 134,546 I11fi,9831 18. 18,563 8,382 8,297 10,000 1%,297} 16,8blil 3,114 LIK 35,148 134 1481 625 15,000 112.21)41 2,736 23,000 23,000 121.1791 24,821 4,625 11,000 112.110?1 6,442 24,714 1)5 5x41 1,471 601 15,000 309.995 I l.ilXTrI 126S_SI 11 13.610 110,104 1?4 £ICI Unrestrl¢ted funds General funds 56,499 291.109 1.714.IhVI 24,516 57,355 56,499 291,109 24,516 57,355 Total fullds 149,935 601,104 198,) fk(11 167,459 R¢stritted funds Tepresenl grants r¢ceived for specific purpo.ses. When the expenditure io which ihese grants relate is incurred it is Charged io Ihe fund in the Stattmeni of Financial Activities. Wel¢ome to out Woods fund provides a unique oppominity 10 IransfoTrn the relationship between the comniunity and their natural landscapc to better meet bociai, economi¢ and environmental needs. The National Lottery Community Fund relalc¥ to monies rettived that ar¢ re5tii¢ted for furthtt education suppo]L including boost for climaie related inve*ment. Th¢ f.ull Circl¢- a grant for a¢ade]nic development, to 5UPPOrt and academic lead Wejsh Wat¢r- this r¢pre5cnis a one-off sponsorship for th¢ young people's camp. 21
BLACK MOUNTAINS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPOR T TO THE TRUSTEES FOR THE YEAR EF4DED TO 31 JULY 2024 1S.Movement in fund5 l¢ontlnued) DeparLment & Work ID Pensions- These are funds provided to create jobs for young p¢ople at Tisk of long-terni unemployment and help then get ihciT first steps on the jobs ladder. Ashley Family Foundation rdates to grani funding T¢ceived for the Ecological Future Camp Short cour5c and development costs. The A Team Foundation represents grant fuT¥Jing re¢eived towards the Chief Operdting Officers sa]ary. The Prince's C.ountrysidc Fund relates to grant fuThling received towards lh¢ funding of thc short course eoordinatOTS salary. Climate Boost- reprer n'.i a one-off supplcmcnt to our National Intt¢ry Community Fund P¢ople and Places Fund lo bool climate action and Tcducins emissions. The Collective Imagination Practice Community fuDd is to ¢ov¢r cosls of a one-day R&D WOTkshop. exploring how collective ]Tha&plati0n proclices aTe used a% pari of BMC course dclivery, and design a series of exercise5. The group will include 3 apadpmics, 3 BMC. qtaff and 3 practiiionets from the CIP com]nunsly. The funding will pay for Iravel cost4 venue hire. Catering and practitionei's, ie¥s. The Joseph Rom'nlree Foundaiion provides funding for 41 on¢-year programJnt lo bring tO8etherthe leading edu¢aiors, fuluri515. ilnaglinItlVlJ and creative aclivisis and climate S¢1811819 to m(MEel how an instiiute like BMC can act as an anclior Institution for ecolo8ic&I iihaginaiion in ihe UK and internationally. The Open Unii'er.%ily Netivork provFdes funding for H¢iiher Lynn Clausen'5 pariicipalion in CLASP l Fellow Pro¥ran]. The Open University Network BTidging ClassriM)m to Community Grant providts funding for a faculty Iraining event aijning to ercale new pedagogy thai addrc.8ses and njitigates ¢limate chanxe, by belping udents to equip themselv¢5 'ith the skills lo take ¢lime Aciion and adapl 10 a fast-changing.. climate-imparted world. The Open Ur..iversily Nctwork Clirnatc Education Orant funding for a'Last Supper discussion feast, for people from the local comTt)uniiy aDd college, exploring the impacts of Aculture on Climaie Change and whal we as consumers, growers and arti$ can do about change. The Pe1 Gr¢¢n M3r.'Jres project tunding 15 to 5UPPOrt grow'ers to plant 'biLFsetvi¢e' arc&s of perennial plants to use as a nulritnl source aTHi soal amendment toi. tneir ¢rtsps. The Roddx¢k Foundation funding As r¢ceived towards o*e year of core costs ¢on¢eming curriculum development and related land stewardship for the 2023124 acade]ni¢ year. 16.Transfers Money has beetb trartsftrred from the unresrrictcd flind to the Welsh Water fund to cover ihe defi¢it on this. Similarly, money has been tTansfeTrcd from ihe unr¢stricted fund 10 ihe Ashley Tramily Foundation fund to cover the defi¢il on this. 22
BLACK MOUNTAIIYS COLLEGE PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED TO 31 JULY 2024 17.Analysls of unrestricted net assets For year ended 31 July 2024 Re5trieted funds Unrestricted funds Tot•1 2024 Total 2D23 Tangible fixed ass¢t$ CuiTent assets 180,512 106,303 180,512 434,429 540,732 i.1fi1).9?111 11)42.11041 74.859 366,585 Creditors 167459 J8.Legal Statu$ of thc chaiity Black Mountains COllee Projecl is a private company limited by guarantee and has no share cupitsl. En Ilic ei.-ent of rhe Lliiirily b¢iiJg wound up. the liabilily in respect of the guarantee is limited to £10 per Ineilii)rf of ihe chi4 riti.. 19.Rel#ted Party tr2nsa£tion$ £272,618 was due to Black Mountains College OpeTaiions Limited in respect of Cross charged expenses ana services ihai aros¢ during (he year. All amoulltg relate to the re-charge of disbursemenis between the parties, Ind amoun[¥ are Ilierefor¢ charged at arnls-length market value. Black Mountains Coll¢ge Operations Limited 1$ a trading company in which Black Mountains Collegc Project holds 36,000 shares. There is an outstanding balance of £31,326 at ihe balance Sheet date (2023..£nil). 23