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||||||Page|
|---|---|---|---|---|---|
|Reference and administrative||details||||
|Trustees'
report|||||2-12|
|Independent
auditors'|report|on the financial|statements||13-16|
|Statement offinancial|activities incorporating||income and expenditure|account|17|
|Balance sheet|||||18-19|
|Statement of cash flows|||||20|
|Notes to the financial|statements||||21-36|
##
||||REFERENCE|AND|AND|ADMINISTRATIVE|DETAILS|
|---|---|---|---|---|---|---|---|
|Members|||V Boylan (appointed
6|||December 2022)||
||||A Cornish
(resigned 6|||December 2022)||
||||A Clinton|||||
||||M Sartin|||||
|Trustees|||T Brennan|||||
||||SLorenzato
(resigned|||4 July 2023)||
||||K O' Sullivan|||||
||||S K Rayatt|||||
||||K Sheppard
(appointed|||7 February 2023)||
|Company|registered|||||||
|number|||11074784|||||
|Charity registered||||||||
|number|||1188094|||||
|Principal|and|registered|Great Oaks College|||||
|office|||Gresham
Road|||||
||||Hounslow|||||
||||Middlesex|||||
||||TW3 4BX|||||
|Independent||auditors|WR Partners|||||
||||Chartered
Accountants|||||
||||Belmont House|||||
||||Shrewsbury
Business|||Park||
||||Shrewsbury|||||
||||Shropshire|||||
||||SY2 6LG|||||
|Solicitors|||Browne Jacobson|||||
||||Mowbray
House|||||
||||Castle Meadow Road|||||
||||Nottingham|||||
||||NG2 1BJ|||||
|Senior Management|||Senior Management||Team|||
|Team|||N Thomas - Principal|||||
||||P Jalan - Business Manager|||||
||||R Murr - Deputy|Principal||||
||||R Price - Deputy|Principal||||
||||L Davies - Deputy Principal|||||
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|Ke
erformance|Ke
erformance|Ke
erformance|indicator||Actual|for 2022/23|
|---|---|---|---|---|---|---|
|Student|number||tar ets|101||101|
|Student|achievement/progression|||85% Expected Progress|10.2%|Outstanding|
||||||Pro ress||
|O eratln|sur|lus as a %of income|||24 8%||
|Students|havin||received work ex erience|||30|
|Ofsted ratin|||||Outstandin|in all areas|
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|Trustees||Date of|Term of|Date|of|Committees|Attendance|
|---|---|---|---|---|---|---|---|
|||a
ointment|office|resi|nation|served|in 2022/3|
|SRayatt||17.11.20|3years|||Board, Finance,|3/5|
|||||||audit &resources||
|SLorenzato||17.11.20|3years|04.07.23||Board, Finance,|4/5|
|||||||audit 8 resources||
|K O' Sullivan||17.11.20|3 ears|||Board|4/5|
|T Brennan||17.11.20|3years|||Board, Finance,|4/5|
|||||||audit 8 resources||
|KShe|ard|07.02.23|3 ears|||Board|3/3|
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|2022|
||||Note||||
|Income from:|||||||
|Donations
and capital||grants||163,212|163,212|63,832|
|Other trading
activities||||59,770|59,770|28,603|
|Charitable
activities||||4,857,529|4,857,529|3,528,756|
|Total income||||5,080,511|5,080,511|3,621,191|
|Expenditure
on:|||||||
|College's educational||operations|8|3,440,288|3,440,288|2,644,896|
|Other expenditure|||9|382,558|382,558|470,363|
|Total expenditure||||3,822,846|3,822,846|3,115,259|
|Net movement
in funds||||1,257,665|1,257,665|505,932|
|Reconciliation
offunds:|||||||
|Total funds brought|forward|||1,953,950|1,953,950|1,448,018|
|Net movement
in funds||||1,257,665|1,257,665|505,932|
|Total funds carried|forward|||3,211,615|3,211,615|1,953,950|
##
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||||Note||2023f||2022|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Tangible assets|||14||101,492||37,015|
||||||101,492||37,015|
|Current assets||||||||
|Debtors|||15|243,744||134,472||
|Cash at bank and|in hand|||3,447,958||2,228,103||
|||||3,691,702||2,362,575||
|Creditors: amounts|falling|due within one||||||
|year|||16|(581,579)||(445,640)||
|Net current assets|||||3,110,123||1,916,935|
|Total assets less|current|liabilities|||3,211,615||1,953,950|
|Total net assets|||||3,211,615||1,953,950|
|||BALANCE SHEET (CONTINUED)|BALANCE SHEET (CONTINUED)||
|---|---|---|---|---|
|||AS AT 31 JULY 2023|||
|||Note|2023f|2022|
|Funds ofthe College|||||
|Restricted funds||17|||
|Unrestricted|income funds|17|3,211,615|1,953,950|
|Total funds|||3,211,615|1,953,950|
##
##
|||||STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS||||
|---|---|---|---|---|---|---|---|---|---|
||||FOR||THE YEAR ENDED 31JULY 2023|||||
|||||||||2023|2022|
||||||||Note|F||
|Cash flows from||operating|activities|||||||
|Net cash|provided|by operating
activities||||||1,310,221|598,211|
|Cash flows from||investing|activities|||||(90,366)|(17,519)|
|Change|in cash|and cash|equivalents||in|the year||1,219,855|580,692|
|Cash and|cash equivalents||at the beginning|||ofthe year||2,228,103|1,647,411|
|Cash and cash equivalents|||at the end||of|the year||3,447,958|2,228,103|
|The notes on pages 21 to 36form part||||ofthese financial statements||||||
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|iation
is|provided
on the fol|lowing bases:|
|---|---|---|
|Furniture|and equipment|- 10- 16%on cost|
|Plant and|machinery|- 16%on cost|
|Computer|equipment|- 33%on cost|
|Motor vehicles||- 20% on cost|
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023f|2023
E|2022|
|Grants|||||
|16-19Tuition|funding|22,312|22,312|16,091|
|Bursary funding||1,488|1,488|8,046|
|Achievement|award|900|900|850|
|Free school meals||20,593|20,593|22,753|
|Teachers pension||30,091|30,091||
|||75,384|75,384|47,740|
|Donations||324|324|393|
|Capital grants||87,504|87,504|15,699|
|||87,828|87,828|16,092|
|Total 2023||163,212|163,212|63,832|
|Total 2022||63,832|63,832||
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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2023|2023|2022|
||||f.|||
||DfE/ESFA grants|||||
||Education fees &funding||4,857,529|4,857,529|3,528,756|
||Total 2023||4,857,529|4,857,529|3,528,756|
||Total 2022||3,528,756|3,528,756||
|6.|Income from other trading|activities||||
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2023f|2023
f.|2022|
||Catering
income||9,128|9„128|26,955|
||Uniforms
income||794|794|609|
||Events 8 trip income||824|824|1,039|
||Insurance
income||7,896|7,896||
||Sale ofother goods and services||41,128|41,128||
||Total 2023||59,770|59,770|28,603|
||Total 2022||28,603|28,603||
##
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||Staff Costs|Premises|Other|Total|Total|
|---|---|---|---|---|---|
||2023|2023f|2023f|2023f|2022|
|Charitable
activities: College's||||||
|educational
operations||||||
|Direct costs|2,261,370||428,300|2,689,670|2,244,390|
|Allocated
support costs||366,555|384,063|750,618|400,506|
|Other expenditure|382,558|||382,558|470,363|
|Total 2023|2,643,928|366,555|812,363|3,822,846|3,115,259|
|Total 2022|2,366,342|214,948|533,969|3,115,259||
##
|||Unrestricted|||
|---|---|---|---|---|
|||funds|Total|Total|
|||2023f|2023f|2022|
|Educational|operations|3,440,288|3,440,288|2,644,896|
|Total 2023||3,440,288|3,440,288|2,644,896|
|Total 2022||2,644,896|2,644,896||
##
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023f|2023|2022|
|Wages|and salaries|346,039|346,039|449,444|
|National|insurance|16,237|16,237|13,030|
|Pension|costs|20,282|20,282|7,889|
|Total 2023||382,558|382,558|470,363|
|Total 2022||470,363|470,363||
##
|||Activities||||
|---|---|---|---|---|---|
|||undertaken|Support|Total|Total|
|||directly|costs|funds|funds|
|||2023|2023|2023|2022|
|Educational|operations|2,689,670|750,618|3,440,288|2,644,896|
|Total 2023||2,689,670|750,618|3,440,288|2,644,896|
|Total 2022||2,244,390|400,506|2,644,896||
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|||||Total|Total|
|---|---|---|---|---|---|
||||Activities|funds|funds|
||||2023|2023|2022|
||||E|||
|Staff costs|||2,261,370|2,261,370|1,895,979|
|ITcosts|||56,985|56,985|30,062|
|Educational|supplies||47,584|47,584|60,761|
|Examination|& related fees||2,215|2,215|372|
|Staff development|||59,630|59,630|47,890|
|Educational|consultancy||252,456|252,456|200,012|
|Goods &services|||1,245|1,245|2,314|
|Minibus costs|||8,185|8,185|7,000|
|Total 2023|||2,689,670|2,689,670|2,244,390|
|Total 2022|||2,244,390|2,244,390||
|Analysis of|support|costs||||
|||||Total|Total|
||||Activities|funds|funds|
||||2023f|2023
F|2022|
|Depreciation|||25,052|25,052|10,717|
|Office & advertising||costs|67,763|67,763|75,032|
|Other support costs|||281,644|281,644|99,709|
|Premises costs|||366,555|366,555|214,948|
|Governance|||||100|
|Profit/(loss)|on asset|disposal|9,604|9,604||
|Total 2023|||750,618|750,618|400,506|
|Total 2022|||400,506|400,506||
##
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|Net income f|or the year|includes:|||
|---|---|---|---|---|
||||2023f|2022|
|Depreciation|oftangible|fixed assets|25,052|10,716|
|Fees paid to|auditors for:||||
|- audit|||12,150|4,750|
|-other services|||1,800|3,250|
##
##
|2023f|2022|
|---|---|
|2,026,861|1,994,321|
|'I93,558|145,277|
|280,097|226,744|
|2,500,516|2,366,342|
|143,412||
|2,643,928|2,366,342|
##
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|The average
number
of persons
employed
by t|he College during the year was as follows:||
|---|---|---|
||2023|2022|
||No.|No.|
|Employees|80|77|
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||(As|restated)|
|---|---|---|
|2023||2022|
|No.||No.|
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|||Furniture||||
|---|---|---|---|---|---|
||Plant and|and|Computer|Motor||
||machinery|equipment
F|equipmentf|vehicles|Total|
|Cost or valuation||||||
|At 1 August 2022|17,284|19,691|14,291||51,266|
|Additions|32,555|1,509|25,687|30,615|90,366|
|At 31 July 2023|49,839|21,200|39,978|30,615|141,632|
|Depreciation||||||
|At 1 August 2022|4,098|3,936|6,217||14,251|
|Charge for the year|5,735|3,430|13,152|3,572|25,889|
|At 31 July 2023|9,833|7,366|19,369|3,572|40,140|
|Net book value||||||
|At 31 July 2023|40,006|13,834|20,609|27,043|101,492|
|At 31July 2022|13,186|15,755|8,074||37,015|
|Debtors||||
|---|---|---|---|
|||2023|2022|
|Due within one year||||
|Trade debtors||82,007|35,446|
|Other debtors||60,558|33,941|
|Prepayments|and accrued income|101,179|65,085|
|||243,744|134,472|
##
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||||2023f|2022|
|---|---|---|---|---|
|Trade creditors|||413,727|24,353|
|Other taxation|and social security||41,297|49,476|
|Other creditors|||22,901|119,858|
|Accruals
and deferred||income|103,654|251,953|
||||581,579|445,640|
##
|Stateme|nt o|ffunds|||||
|---|---|---|---|---|---|---|
||||Balance at 1||||
||||August|||Balance at|
||||2022|Income|Expenditure|31July 2023|
||||||F||
|Unrestricted||funds|||||
|General|Funds - all funds||1,953,950|5,080,511|(3,822,846)|3,211,615|
|Compara|tive|information
in respect o|fthe preceding
year is as|follows:|||
|---|---|---|---|---|---|---|
||||Balance at||||
||||1August|||Balance at|
||||202I|Income|Expenditure|31Ju/y 2022|
|Unrestricted||funds|||||
|General|Funds - all funds||1,448,018|3,621,191|(3,115,259)|1,953,950|
##
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|Analysis|of n|et assets between funds - current ye|ar||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
||||2023|2023|
|Tangible|fixed|assets|101,492|101,492|
|Current|assets||3,691,702|3,691,702|
|Creditors|due|within one year|(581,579)|(581,579)|
|Total|||3,211,615|3,211,615|
##
|Analysis|of n|et asse|ts|between funds - prior year|||
|---|---|---|---|---|---|---|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2022|2022|
|Tangible|fixed|assets|||37,015|37,015|
|Current|assets||||2,362,575|2,362,575|
|Creditors|due|within|one|year|(445,640)|(445,640)|
||||||1,953,950|1,953,950|
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