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 tn￿teeS 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¢51￿jVI￿1J 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 S￿￿tOry 2nd trusts and foundations for future seThie¢
d¢livw. including capitsl ￿ndIng. We have also acce$$ed s¢ed fLJnding t￿0￿gh 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 r￿erVeS 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
Acco￿tinb. 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 t￿Stee5 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 p￿dent-
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 acCounti￿g 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 r￿pOnSible 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
Po￿5

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 r￿ognISed 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 recogni￿d 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¢ndI￿re 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 eXpe￿dItUye &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 res￿11 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.
DesigliaiedfyT￿s- 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 Te￿n 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 y￿r ended 31 July 2023
W*ge$
Perlod from
l Mar2D21 tn
31 Jul 2022
Dlreet
Costs
Ye*T 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 employM￿t 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 eXt￿t 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- repre￿r 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&pl￿ati0n 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. ilnaglin￿ItlVlJ 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 ¢lim*e 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 A￿culture on Climaie Change and whal we as
consumers, growers and arti￿$ can do about change.
The Pe￿￿￿￿￿1 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 COlle￿e 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