Charfty numlw.. 1193244 KrfE COLLEGE Tru8te•s' Report and Fln•nclal Statèmonts For the Year Ended 31 Augu¥t 2023
iaTE COLLEGE Refernnce •dAdmlnl•lratrrt D•talb of lh• ChArfty. ItsTftAt• •nd Advl#•N Tru•1. R•port Trust•, ItsponbIltl•• St•knwTht IDdep•nd•nt Audltw•' Ilwt on tho PlThanGlal Stknnl 8.10 11 B•l•n¢• 8lw¢ 12 t3 ot•• to th• Fkn•nd*l Stat•m•nl• 14.28
iaTe CQLLEOE R•f•r•n Adrnlnl8tratlv• D•talls of th• Charlty. Its Tnwt•M and Adv1•• For th• Y•v End•d 31 Au#u¥¢ 2023 Tru¥tee• B(& Law, Char Joth SavlU8 Benllgy Juli• Ety IresfvJn¢d 8 JLty %)231 SlnKn e¢yJndg Peter Wiliam Stowart NI Clark ThTthhy ConnOr Stsphath B•lardo IMned 8 Juty 20231 Row Bradley Pam Jo8 (appointed 14 Aumtst 20231 Nol Paul lappolnted 14 Augthst 20231 4mb•r 1193244 pn¢•P•1 offk• Unf¢ 1 & 2 EurolTr)k Way Sittino*oum ME10JiY Ind•p•nd•nt audllorn xeldkn Audit Linted Chared Accwrrtarts ststrrt0ryditor 12 Cowywor CoLIrt SllllThJboum• Kenl ME105BH P?ge 1
IUTe COLLEGE Tht8. R•port Fwth• Yew End 31 Auoubt 202# Th• Tru8t Prnt Ihwrannuaj r•pryttsJgothorwlth sudrt•d 8tatem8nts oltho KITE Cow for the or 1 SWwthr2022 to 31 Ayst 2023. l¥•¢tlvM •nd ¢ttvrtl• . Poll¢lM and •bJ•¢th•• To Kent & Imdlng kndependenl 6wc1a1i 8ducat¢)n and tr8inv¥J provbbn. In ttiN and F4arnng lor tiVItS, the Tru8teg8 havo gTh due C$&er#I kn nor&I 9danc? publkhod by the Charity Comml$sknn to publ¢ bwgfil InckhJSng the guidm'Publ¢ nefft.. running a charity IPB21'. 8trAt•il•• lor ach119 obJBctl¥ To Incre 8pedali¥t prOVr0 kn young peoFl¢ acr E8¥t Kent l&tthv•wm•, Sheppey. Maklslone and Thanotl 5ubJg¢t to EHCP wkn SEMH and 19am1j •nd b6ho¥iour ¢Dcukns, whlch onwTe8 a bgttoT Off•¢ •nthrrfJ gr•atsr cotce tr• youtyJ p•oph •ndlhtr rfjnts. Athttl•• und•rt•kgn iv To pmvld• (¢¢6 oThJ opportynltth to 811 yourvJ peW8 108rnkng dIffileS and SEMH rneds aMbMS and hsptrauonal Ikhyy1&4mlng and 8k115 pr(w¥nnw. Thes9 iidudg VOC4tional tralning In: Motor Vehicl8 Technofcpay, . HaIr4 88auty • Mats and En¥lsh EMybIlIty & knfo Skll# The Colè. sknat•d In tho fonner Skllj Cèntr¢ kutsd tho Euro Link Indwtrt•l Eolats vi sllllngbrl. opaned 181 Septwter 2021. Our Vatufrs . KinLtr788S . T81¢ d. ltsln •cthltl• und•rtok•n to fi#th•r th• Charlty• purpts• for the pubN¢ b•n•fft The p18 a offull tlme Vot)al tralnlng opportunitiès as wo11 a$ Math8 and En91i$h for its $tud¢nts. frjnded by tho publ* Alm ultimately at them beww ready able lo enterfv worfd erfwork and baL)+ 8 productive membgrof lh8 commurtity. Pagg 2
KThE COLLEGE Twt•M' R•yl1¢ontlnu•dl Forh• Yo•r End 31 Augusl 2023 •. Maln •thiw•nbmts ol Ih•Cho11ty l)uring the yw, Ihe e(Nlege suprA>rt8d som• 66 sbJdoDts. 56 were from Kenl 1Q from S other k)cal avthtirfti8s. Tho $p¥tover the coutsès VAS 8$ fv)lO. No ofStudDnts Hair 8rKI Beauty otorvahldo Prepw8lh)n forLoamlTrJ Thg ¢dlggB has a rwge of KP15 MoAg from th8 nunknr of Stu¢Th it to morè d81•lY that dMOTht the incr¢a$ing Kademicl vocaitLX)d éevdopment of ts ¥bJd•nts to mpny ofll8 itudonts move ¢mFloymgnt ofluTIIw gducation. Th? Pri1>1 ieport5 on a rwJuk8r l)8818 tho 8thitie$ owatksn of the col gThJ adjusts Iho offows avalaNè annuoly to th• studgnts bgsed upon thg dgrnandthwu8518 ofthp$bJd8nts Irf8mlId8. d. Fagtorn rgl•vant to xhf•v• obJ•¢ll¥•g The eolleL erwrBs IW h8Va 8mploJé tho n8c866ary wlity slJlfv4 to teath $upwtlhestsJdwt8 monttorthls rpwlaty. •. Fundr•l¥lng •thRIB¥ and tncom• 9gn9r• No lundra191ThJ adviti98 0th8rthon an orAon81 ¥rint Wd FIDanclal rwl•w . Golng ¢on¢•m After mokkng awopriaiE enqulrk6, the TntSt8es havg a rna5unth e¥p8Ctatlon that the Charlty thwat• rèweA8 lo tc•)tlnue In (yeralon81 exLqtènea for Ihe fc>reseeable lulwe. For this rea5(. rn• to Adopt tho Wng corrAm 1$ irn wtparfng Ihg fin?naal Statements. Furthw del815 regardiro the adopuon ol the wj.ng (oncem basls wi b8 found kn the awxmtir#J p¢&w6. Th8 TNste6s lorn)ally apwov•d a pow on 16th Juty ¥thich has 8 tWqOt mlnimurn rn#w¥e of £200k which 1$ upon ts¥o monlts nnning c4)sts. As th8 c¢laoa Is puNlrty hmded IhB om¢xn8 •r• about In fvndng ljelng rgcph8d, a rethJ6*1n in Iwnef arnl unforeseen emorgenclo$. P•g& 3
KITE COLLE(
TTU•t•M' R•port {MThtlnu•d)
Fortho Ygar End•d 31 AugU•t 2023
Tho C¢Wè C)nlknu&¥ to grow du5rvJ Iho t<¢h In lernis of stud•7t Mmt4rs and fln8ncjY and ih?
lth Ihe College swjring fts EFSA Wh rw1¥ I1n0 Ixytract frrxn August 2023 and r8Lved rt6 Ik6t
payTrwnl In AugugL
Th• Cc4•g• •nd•d the swrvAth a bank balanca of£S44,979 aThJ r•8•rw crf£804.853.
A tho Cologo 8ti11 in 118 irrfancy w)d d)'n0 li not t$&bed a R0$9rv•s Fdicy that apF41gJ to
ypar othor than ndI[a to erwe that il hJ Suffyent lunds to Colw to Ilourish. GdrKJ
forward Y•lth Iho Coly ty)rthj to grow11 wlll put In plK• • R0r pr.
The Cokge8 Ca from a lurAllng ymont wkh KCC SEN alrty wlth Indlvidu81 Fundi
AThants IIFAJ) a Smal number of Oth Local Aut+5 for Ihelr Indivkjual youry pe(W8 at tho
Cc4f•38.
d. Prfn¢lpal hd une•rtaln•1
The L¥lknge whllst bekng pubbh lundgd and $yppthtfr a of where to nuffa•rs rthirw to
li ILuIty is olways Bt d8k ol thè funding b8lng r•Yutsd c¢ not infiation ornl tho nd•r6
duclng th¢ numlJBr ofstudBnts IW are prepare4 to suppowL
•. FiTrndal rl•k m•nag•m•nt obJoetlv•8 And poll¢hs
ND pclity is In prac8. bul a Risk R•gister is duè 10 be daloped S)rty. On An cfrwlryj the
ks 8Te nSIdeI * èach mo•I"NJ of the SFP vthén rthrie Ihe rnanwent ¥Leounls
Comtltullon
KITE Cdegè was r•gMt•red wlth the ChoFIty Cornmi#8ion on 26th January 2021 aB a Charflable Incorw
Qroaniialiffi ICIOI wlth o board of Irustee$ ts)nsistlnp 019 mqmboTr.
1% M•lhod• •1 appplntrnthntor •l•¢llon of Tru•tM
rnan8gam•nl of tho Chity is tha rnsporilY of tho Trt*1 ar• dect•d and eo
KITE COLLEGE TN•tw' Report {c•ntlnu•d) Forthg Y•arEndMI 31 AugU•t2023 strUrn. yov•Thanc• and mon8gqrnent {corrtlnu•d) d. Polldu fvr th• Inductlon and tr•lnlno ofTrn•t• Tru8t88¥ n •ppcArl•J to KITE Coloop prlmarlty bas•d on Ihth 1. •xporfffjrts. •ywtk•. and qu•iillcatknna. 1. SklH• * Exp•th: Tnkstees are eppc4thd on thelr •F¢cMc Jkif# and •ywtkn vAth the nèlds of KITE Colege. For examplè. financ, bn, HFi and sal•ty, ial Sthk•8. hoth & vAliing, psytholo9y. edUtion pnd quality ntrol InspeLgn. 2. Trust bthg volu4)h w8rf•ne• thglr prdOSB?nal or pol91 tr4d(grDund6 that benefit KITE 1899. Thls could IrUde ewkn¢• kn I9[h roks, 8tralegk klonnfflg, fwKlraknhig. or 3. Qu4lTrfitns.' m#y htsvè sp¢ qIlIke¢Y Ilwt moke them wekiMbJ fty thelr rdeB. Th L%¥Jld Indudè •du&glonal dègr884 profo5oK)n81 c8rUficadth)8, or Welnt ewogs su¢th Is gov•manc8. law, or managomoyrt 4. Dlver8ty'. Dherslty among Irust••s ks cNcial to ènauthg a and in818 wv•rnlffd boty. Truste88 from diverse back9KndS brir¥J drffernnt persFthes. tdoss. and to probl•m•dving, h cn ¢nri¢h the d&thi(wklng WL66 and better reF¥osent Interwls of tho wnlz8kn'5 étakeholders. Sl-llap an&¥sis IB untt•rt8ken on a re9aT basiB. When gaps tdgntyfied <at4e prxOtMers are OFProaCh & kyoposed by ¢urr•nt trust mombern 8ndlor the princiFd If Sortt Ihan Cvs And Bios are shared wth al sltting t$e8 and votstt on otknn ttvstÈÈ rn1•. l Truws rx¥i¥e Induc1 Is SuW8M•n by ¢xlgm pro¥lJBrs #È Mc•86•ry. N trIt$ ¥• Novkjod ith a D)py of'GUIDANCE Tho 9¥$?ntial trustee: you rd to what you nggd tr+ do.. madg awarg of the inBtfurnent ol wY•rnanc• for KIT&Cole and rgmind&J that ai trusttss are rMulr8d to lokni the NO1 pthples {ti n publlc offlce Pty poli¢y lor k•y man•q•mont pwsonn•l All key malnI p05ts hav• a $8t ar• kncreased annuaty aftor a r•vow ty Ihe P Committee and agrèed byth• Board Df Trustee5. l. R•lat•d wrty r•lthJhlp The Tnthos are from a vari•ty of wn16adcfTB that have an lrterost In th• tye ol Su0n1 that 8urottrl&. Tho Chair ofTnmt•B# al FosII)n8 attsvo othèr cth8r6knvJhere Ihgrg ware financial tsn5athns durfThJ Ihe year. Phn• f•r fulur• yrlo The cthlege18 filllng a gap in thg sUPWt that L8 avalkqbkn to tts St11Th 8616 evk16ntin the growing nunknèr or apF41cUons for plgce$ 8t the cdbje th#t has mor8 than Ihtr la61 year. LOr foM8rd. Ihe T¢8 pn to Inerease the numb8r8 th•y ran aceommc•Jate In SltttrvJbMn? •xpandlng its operatm to oth•r kneations aucss thÈ cw. P•yS
KITE COLLEGE Tru¥te¢s' R¢port IcontInd) Forth• Ywdr Endld 31 August 2023 Dl•cl¢•yrg of Infommlloft to •udltrys Each ofthè pwson$ who Èrè Tntstees 8tth8 b.mo whèn this TnJste8s' Re1 is approved hos (>Jnfmed thaL' so far 85 th Twe is awgre, therg is no te¥¥nt of vthch tho chantys 8udiior8 are unaw¥•, And that Tru$ h8S t8k•n 81 Ihe stops Ih81 ought b) hwe be•n taken a5 a Twslee in (d•r to awarg of Any rnt auck knfonnakn to •staNi8h Ihvt Ihe dwity8 awJitoT6 are aware ofth8t iilomi811on. AudltoY Thg ¥udhor& Xginadill Audit knmile¢J. have Indkat•d Ih81i to eonuroje In tsffle•. Th• desb5rtsd Tntste85 wlll pmw)se a molon reappdnlng th• aUdh0 at a m881kno of TNsts9& ed by order of Ihg n%gmlxrs of Ihg bowd olTwst¢¢sofi 23 July 2024 and slgned on Ih8lr haV by. ¥J Juty 2024 Bob Law ICAY TrttS) Page 8
KITE COLLEGE st•t•m•nt of Trust•. Mptsnsbi iliti•8 Forth• End•d 31 Augutst 2023 plIcale knv and Unll¢d Klngdom Anng SlandaTdu KlTra(th Gner• AUnr0 Practlc}. The low •ppll¢able to Charities In Englrt 6 Wdts r•(ym the to prpp8re firmndal 8tslWnts for each financial year gNe o truè 8nd falr vlaw ol Ihe state of affair8 of the Charty and of ts inefjmlng re50wcw 8pplction ol resourttt. iidudi)g its in(Jme and expÈrtdibJro. riOd. h prwrfng th81• fmafteAal statsmAnts. Ihe Tntstè8s8re requlred tth. $ulable atKthtAlSng •nd then apply them con81stenly', ebs•rv8 th• m•lhods arnj nC19 olthg Chames SORP (FRS 1021: make judgments and accountlng e6tinwt8£ th8t are sonable anis pnkiL stale whether applible UK Auxsunting Standath IFRS 1021 have Id11. Jubl•¢t kn any Hterfal d•pwtur8s ¢Jlsdos•d and 8xk4oln8d h th•lknandal stern8nts.' prepwe the ffinanclal Stn$ on gdfVJ conrAm b#th urt886 It IB inBkyJrtyrfate trj &Y•imt that th• Continue kn 1xinesS. TIU$t8 gre roskmsit49 for ke•pw adwuate aco)urfng r¥a8 Ihat srfldent to and gxplawi Iho chori1 tran68thorffj dhck)8b wbth rnasOnaO raty any tiw finanoal p08itiw of tho Ch•rfty arKI 8ble th8rn ts •r4urn that the naal 5tatemants cLJmply w5th Ihe Chthtkn A¢1 2011, tr Charfty (Accounts and Report8) Reguladons 2008 ar¥1 the prv4i8bns ol ihe Trust daed. TW ¥e rè£ponslbl8 for sofeguardlng the 8880ts of the Chatyand hencè fortakirwj r•awnoty8 st•p8 fortho pr•v8nts'¢)n ar 0lfr8ud Ènd othtt irrogulwmes. ed by ordgr of thè rn8mbs of Iho board d T•$ on 23 JY 2ff24 and $1grd on kn bghelfby: 23 July 2024 BDbL IChof Trust)
XITE COLLEGE Ind•p•ndont A1[10. R•portto th• Mgrnb•t• ofKITE Colw• Oplnlon W• have audited Ihe finandal st8t•m•nts of KITE Colege1th8 crity) for tho 31 Awt 2 which Djmprlse ihe Stalemgnt of Fin0nri A¢Dvlles, the Balance ShggL Ihe Statem8nt of Cash Fk)ws Ihe lated n(4e5. itKkJ¢'ng 8 wmmary of slgnfficant o¢¢ounlwYJ po. The finanry rYpLts"ng trarnrk thal has kn th8ir prpparauon 18 appllcob18 Lqw &ntJ Unlted KlrffJdDm AccinI1 Stsndwés. knGludlng Fln•nclal Repoir Stawwya 1W2 FIn¥sl Rewtlng St8nd#rd 8p14c•b In the UK R•publk ul Ird8nd' (United lQngth)m GentY Accoed Acewnlng Prnctke}. The finandal ststgffonts have ten prepored In 8ccordarK• wlth Acojuhthg Rpttng ty Cmrjt preparing thoff auxjunts in accordance WTlh th• FinaNal R¢wting SlaThJorf$ •wlicabk the UK 8rKI Republc ol Irend IFRS I> preference to the Acoxwrting Reportin9 ty ChariUe& StAknnt ol RerAynmond&J Pra¢tTh Isswd on 1 Wl 2[ whith is rèferred trj In th8 oxl8nl rguulalitsns bul I6 boen has beers done In cfder for Ihe act to pn)vkle a true and lali e in accordance wlth the Ggngrsl ptod ACUnting Prncle $ffethe for re[K1rtK P8rh>ts b•lllMlnq on orafter 1 January 2015. In our 1n1 the fnarrial stslements.. give a true and fair of Ihe stats of thg charitys affai •s at 31 Awust 2023 wd of ts I)MIng source3 and applKatlon of the yw then èndad: have baen propety prepar h artcrdanL wnh Kkngdom Ggneroly Ac A(¥xunlng Prtctic•; and hov¥ been pr•pared In #ccorthKe wtth thg requlTem8nts ol lh• Charlthos A¢a 2011. 8••t• for •plnlon Wg ffffldLKJBd wylt In accordance vAlh Intematirmol Slprt0rd5 ¢)n AudthThJ IUK) {ISAs IVKI} gnd applkab16 Iw. Our rOSPL811MltioS erthos8 6tsndards 9 fvrthpr dp5ulbo¢ In thb Audlt¢Js' responslblltl89 for the oud5t of Ihg flnancial statements 8gcUon ol ovr report. We ar# nd8ndènt of lh• ch¥ity In 8wdan¢6 wlth èthkal r•qutr•ttts Ihat 8rg relevant to tyjr audft ol the ffirrdnclal #latenlS in the Unitsd Kinqdorn. induding the Fin8ndal Reporllry Ethicel Slandard, havo Ivlfillad w Dlher 81hieal re8port8bS1rt8 kn aTd8n witr these requlr8m8nts. We th81 the audit •vid8rA TAP hovè obtarnd suffK48nt and appropnalo to pwde a baw for OLY opinl(m. Co1u$l0n9 Y•llng t• golng In aliting the finantial st&l8men18. havè (ndudod Ihat the TrJstèes' use ol the 9ovw basts of acCnng In th8 preparalon of the h8nGwI st8lern&lS apwoprlate. Bad on Ihe knork w• havo parformad, YK hBve Fdentifiad any malewl unLtrtolntt88 relating to events or [di1$ thaL Individually or t¥llecty"vely, cast skJnlflc9nl Iloubt on th8 chantys awty to cOnn¢ as 9fAng concem l( 8 porfod of pt Iwt N%Ylvg WFK*)th6 from the finanGI816tsknn8nts authorjsed for ue. Our respOnblItieS and t responBlblIfy ofthe Tte9$ to goin9 o)ncern ?r8 de5rribgd In th¥ releVant8On5 ropyL Paga 8
KrrE COLLEGE Ind•pondont Audltors, Roport to th• M•mbor• of KITE Collry• l¢ontlnu•d) other Inforniatlon The other information conwrises the Infonyn Indudgd In th8 Ann1 Roport thr than the finandal statemgnts and our Auditors, Rep)rt théreon. The Tru8tees are respon$ibl8 for the other infomiation Gontsird wthin the Annual Report. Our ¢Jpinion on the flnanclal slalemgnts doos not o)vèr th6 other Infomiotlon and. except to the extent other%Th explititly Stated in our report. we do not express any form of assuran condusion thereon. Our wponsibility is to read the other Infomiation and, in doing so. consider whether the other infomiation 15 mat8rially Irans1518rtt with th8 financlal statsments or ¢)ur knovledgè obtsined in th8 course of the audbt, or othoNAs8 appears to be mat8rlally mlsstaled. If Identsfy such material incons18teneS or apparent material misstatements, Sre required to (lelemiine whether this glves rlse to a materfal misstatement in the financial statements th6mse]ves. If. based on the work wa have parforme(I, condude that there IB a materfal mlsststgmont of this thr Infomiatlon, V•P are required to rop that f We have nothing to report in this regard. Matt•rn on whkh w• ar• r•quir•d to r•port ty •xc•ptlon We have nothing to report In resp8rt of the followlw matters wther6 th8 Charftss {Ax)Unts and Rwirtsl Regulations 2008 r8quires us to rew)rt to you if, in wr opini. lh8 1nf0m)an gven in Ihe Tru$t88¥' Report is inconsistent in any material re5pert VAth th8 finandal 8talements', or 8ufficlenl accounting records hovg not boon k8Pt.' or the financlal statements aro not in agreement with the aCcJntInq T9rdS and r8tum5" or vn have not receNed all the infcrfmation and explanations requlre for our aKlit. Rmponslbllltlos of tru•tO•S As explalned more fvlly In thg Trustses. ResponsIbll0S StalemenL the Trte$ ar6 respmslbfe for th8 preparatlon of the financial statements whith give a true and falr vlew. and for suth internal control as the Trustees determine is necessary to enable the preparat?n of flnanclal statemgnts that are freè from matedal mL8ststament, whether due to fraud or error. In preparing the financial stat8m8rts. the Trustees are rnsponsible for assessing the Charis ability to continue as a going conc9m. disdosing, as appliLzble, matters related to goiw conGem and Ung the going concem basls of accounting unless thg Trustees 8ith6r Sntend to Ilquldate tho Gharity or lo cea88 operations, or have no reaustlc allemativo to do so. Oth•r matt•rn The financlal statements of tho Charity fty the year ended 31 August 2022 wore UnaJ11ad due to belng under the audbt threshold. Page 9
KITE COLLEQE Ind•p•nd•nt Audllorn. Report to th• M•mb•rs of KITE Coll•y {eontlnu•d) Audmorn, r•sponslblllU•s for th• audlt of th• Ilnan¢l•l stat•m•nl• We have been appointed 88 8uditor Soction 144 ofthe Charits•$ Act 2011 and rop)rt kn accwdance with the Act and relevant raguIAttons m•J• or haviThJ effect Ihsroundèr. Out obj•eti¥es are to obtain reasonable assurance ot)ut whelher the finanoal $tstements 8$ 8 whole are free from malerial misststèmènt. whalhor duo to fraud or error. and lo 8n Audilcs' Rèport that indud&s ojr opinion. Reasonable assura is a htgh level of assurance, but is not a guardntse that an audit conductsd in aco)rdanc8 vAth ISAS IUKI VAII aNvays d¥t•ct a m8terf81 rrf¥slatsmant whén It exisfs. Mi$$t8tamonts can arfsg from fraud or &rmr and ar6 considered material ff, IndNldually or In th& aggwatè. thay c4yJld Tgasonably be wApocknJ to infknence the 0101¢ dgci¥IL$ of users tsken th• basis of these fmanrAal statam8nls. Irregularillt$. Indudlng froud. are Instances of non-¢¢Mmpllance vAth la rogulallons. W& deSTr procAdures in line vthh Dur responsibil•s. othlned above, to et material misstatèments in respo¢t of irreguFaritiès. including fraud. The extent tts whi¢h our pledureS are cap&lè of dotectirwj wrlant188, induding fraj 18 detailed belryw.. As part ol an audit in accordance wlth ISAS IUKI, exeTcl8e pTofo86l¢x)olg•mont and malntaln profes8lon¥l 8ceptid8m1hrth tho audlt. W• aL80.' 1. A88essed th• suxèptlb16ty of the entW8 ffinanixal ststamants to material mis8tthnert Induding how fraud may vc¢ur. 2. Held dls¢u8in$ wtth ¢18nt regardlng th8lr P19$ 4nd procodures on t))mpl8nc• vAth law¥ •nd regulauons. 3. Held dlscussions w7th the dienl regardin9 th&lr policies and on fraLJ risks. inc kMw1edgè ofany actrjal suspeded or aueged fraud. We conBkler Ihg ontitvs Cxybtrols •ff•ctlve In id¢nWrKJ fraud. We th) rt thére to bg slgnmcant dlfflculty In detecting Irregujarfties. A further d&'pIlon of wr Msponslb115t5es for the audit of thè flnancial 8tatements Is Ied on 1hg Flnandal Repting Council's TrAthte al: This description forms part of our Audilor8' Roport. Us• ol our r•port Thi$ rèport Is mado solety to the charW$ tTY¥tèès, as a bc4Jy, In accord#ne• wf(h Part 4 of lh• Chawltie$ lAcL¢S and Reports) Regulations 2008. OUT audit wcrfk has been undertaken so that might slatè to Ihe eharitls tfUSt•es those matlers are requimd to state to them in sn Auditors, Rep)rt and for no olhor purpose. To ltte fvllest extent permitted by law, we do T1 8GCQPt or assume responBibility to anyone othBr than tho charty and Ms Irustse$. as ? body ryjr aud6twiKK for Ihls report, or for the op4ni0& havtr fomwd. I_L LLI LI Xelnadln Audit Llmlt•d Chartered Accountants Statutory Audttor 12 Conqu•ror CA)Urt Sittingboumt Kent MEIO 5BH Date.. Xeinadin Audlt Llmltsd are •llglbf8 to act 88 ouditors In tern of section 1212 of thè Ccfflpanle$ Act 2006. Page 10
KITE COLLEGE st•t•ment of flnancial •ctlvfths For th• Y•ar End•d 31 Allgu 2023 A$ rnstated Total funds 2022 Unr••trlet•d fund# 2023 Total funds 2023 Income from: Donatlons and18gacle8 Charitable activities Investments Other incomg 5,500 16515 3,000 2.300 550.340 1.564,915 2.491 Totsl Incomo 1,575.661 1.575,661 555.131 Expendlturn on: Charftable activitses 1,092.962 1.092,962 511.732 Tol•l •xp•ndllur• 1,092,962 1,092.962 511.732 Nèt mov•mont In funds bofove othor r•cognlwl 482.699 482,699 43,399 Other renI1 gaIn(lO¥S•s). ACtuaal galn8 on defined ben8fft p8nsIo schon Pen8knn Surplus not rgcognised 143.000 (103.OOD) 143,000 (103,000) 15.000 23 Not movem•nt In funds 522,699 5&399 R•con£lllatlon of fund#: Totsl funds brought forward Net movement in fvnds 82,154 82.154 522,699 23,755 58,399 Tolal fvnds carrf•d forwavd 604853 604.853 82. 154 Th? Statement of Flnanclal Aclivitles includes all gains and l¢)s¥es r¢cc¥ni88d in The notos on pag95 14 to 28 fomi part ofth868 financial statemonts. Page 11
KftE COLLEGE A• •t JI 2023 A8 rthtgd 2022 11 102,295 10&152 12 11025 54979 44.135 143.6e Cth at bonk In h8nd 187.1%15 CdI.. arrunt$ foliTra tlugilhlTh one 13 (186.693J Iletcuffent ••••ts 50195B 2,LW2 Osfinod beffit pens scheme a88etl T•tal n•1 ••¥•ts 82.154 crKY fvnds Rethcted lund 16 1throstrl fund5 exITYj pen01c aB¥t P¥nsion lp¥grvg 16 18 IlQ154 rk4OOOJ Tolal mre•trfcted fvrKIB 18 82,1 Totsl fvndB 82,154 fin8n¢ial $18t¢m8nts ¥we 8pprov¢d And ALtt4orfsed for155ue by tho Trnst on 23 2tr24 ond svjnod on thekbehow ty. 23 July 2024 Bob Llw (chrOt TTvsteg51 Th8 nole6 e$ 14 to 28fc¢m partofthose 8tytwnonts. Py12
KifE C(XLEGE Stsi•nwnt ofctth Flows F•r theY•ar End•d 31 Auqu$t 2023 A8 rn$101od 2022 l•t e•Bh v58d in oporatiThJ th1ti8E 501.512 1rn46 Cuh flow• Inv119 actMtI•• Purel 01190b18 ILxed 0658ts p55) 142.813J Net caoh In lJN••llnH •Btl¥tt P42DS) {42I131 C••h filIaM flnnclnq •ellvltl• R•Payen rf tsorr 174888) (37.444) M•t c#h U1 in finaneino aellvttl• {74BBBI 137AM} Clyang• in cash #nd •qul¥•l•nt8 In th• y•r C8oh ond cwsh oqiivalprts pt Ihg beginwvJ ofth& yoor 401AI• 96.211 47.349 Cwh and ea*h •qUIlents atth• •nd ofth• y•ar 544J79 143.060 Thè n¢)tss Oft Pages 14 10 28 form pwtoftholè finano8J ltaiemg Pe 13
iaTE COLLEGE Not•s to th• Fln•n¢lal 8t•t•rn•nl Forth• Y•ar Endgd 31 Augu•t2023 G•n•r•l Inform¢ KITE Cologè is a Chartabkg InCoOrated Orgafiis81in r•gk8tered in Enand arttj Wakn. Th? rwistsrad Offi is KITE Colkge, Unit 1 & 2 Eurojink Way. PhOM Lknve. Sittingkwrnè. K•nL ME10 3RY. The prlrbo1 acw ofthF Charfty IB lo Prod Indent plIst tralnlro to you Accomtlng pokl•• The fflnan¢l ¥l¥fflents havo been epad in aft¢e wth tho Chthob SORP (FRS 12}- ounllrty Bnd Roportlng by Ch8rftlès'. Ststomènt of R4ded Prackn applcatlg to ch8rtth•5 thglr 8¢cDunts In Aeeoréanck wlth Iho Flnanckql Repurlng Stsrthrd OPFbI¢ In UK and Roput4ic of Ireld IFRS 1021 (èffect 1 20191. the Fknandal R•porUng Slandard ApplAble Sn the UKand RewbSc of k•Lqnd (FRS 1021 thè Charitsw AL# 2011. The financial Stater have been prepared to glve a and falrf vkw have departed from the ChAl8s (ACCO and R•port61 Rogulatbjns 2008 onty to th• wtent roquired to provW9 0'IFue and falrf TrAow. Thls dgporbJrg ho$ irNofvad fD11thO tr Ch8rftig¥ SORP IFRS 1tr21 put4I5hod In October 2019 rather than thè Atth)unti arrfl ROpong by ChathS•6', Statwwnl ofReeornmended Pr&beo ¢ffKY• 2Q05 slnc¢ been wlthdrwn. KITE Cdltye meets the ol 4 public benefft enlty under FRS 102. Il&JHIUes ar6 Inrtlally reco1?• af h15t0¢al costw transaction Val 188£ othtre stoted In the rdovant pc41¢¥. 22 In¢om• All inuJmJ 16 recognKed On Ihg Chadty ¢nlllemwrt tr) the in. ot Is that 1he Incom8 WHI bè rec81v8d and th8 amovrtof ht>)me wolv0t& w bg M#88u roliobty. Gr8Fts we InrAJ•J in the Stsi8m•nt of Fu)8rK4al AcfvllJ88 on a r8coivèt48 bath Thè b$1( of Income received w98S trtrt nrjt exnded during th8 porfrxl L8 8lvwn the relevant fund& on the BaLqnce Sheet. inwme is receNed In adveJKg of grliuèment of tttdpt, Its recrynOn 15 deferred and sndud8d in eredrtors as dtferr•d incum. onta18nI ocujre b8for8 IrK(fio ts r•cgl¥ed, the income19 a¢cwed. Cxhgr in¢t4M 16 re(wnwJ In the in Is r8¢xfvabl8 And totho frxtent the trJorSs av• beon pr¢y4#18d w on compleon LY the 80r¥ico. 22 ExpBndllur• Expandte 18 r8tcwL48d ¢)nt• thtrn L a gaI or rnnslrutho Olath)n to trangfer OCOTrtyTH b¢n¢fft to a thinj p8wty. it li probable thgf a transf8r of enorn bOrfits wri be rnquimd In IUBrnent and the amrxHrt oftha oblig8kn r•lably. Exp•nditixe 15 elbss1fd by ocllvlty. Thè cc6ts of èdt aelivity arg med¢ up of the totsl ol drt C05ts 8nd shar¢(I ctsts. Indu¢lng knvolvod In urKJortng each athilty. Dlrxl #ttrftxJt8bf9 to a slngje a1¥1ty 8r8 athxated dirpL#ly to thet admty. Sh8r•d cc¢ts wluch than rfft Actlvlty wpport OJBiE whith Are not attrtbutsble to a 8inOe actmty ar¢ appoOned t¢M¢n Ilw8 gctivilies on A bas15 cML%tent wllh the usa of resolrtw. Central $traff eosts ar8 8lknt4tsd on sls ofume spent. and d8Ptsts•tion thwges alloratsd on the pothn ollhe 8888f5 Use. EXPdre m charttable acU¥lties 1$ knrJJrrod on dlrecty ert4n9 th? a(*We8 wNch futhor Ilw obJKaN•4. •$ as any a#odat•d surwrtp)¥ Pagtr 14
iaTE COLLEGE Not• to th• FlnbKlal Stat•m•nts Fortlx• Y•ar End•rf 31 Augu 2023 A¢¢ountlng ieontsnwdl 13 EXp•Dlr {¢onlinu•dl I WIdItu 1$ inchJ6iYe of ifrccg¥wablB VAT. cernMent gran18 reLqlng to tawlble fixed assets are tro3tsd os delwred wam• and rd8aB8d to 1he SIAtèmènt of Fln£nual Al"e8 ovw thp expected usefvl liw¥ of thp assets cuKrr¢d. Oth8r grant? w¢ crethted to tl Ststernont of Flnancfjal lYJvrtl98 8 Ihe rel8tsd expandilure A)tyJffBd. ZS T•x•tl¢ Charfty Is lo th• t•sls s•t OL In ParBgrsph 1 Sch•dul¢ 6 of Flnw A¢t 2010 ana Ih8r8fue it moèts Ihè definition of a thar¢tsble crfjrryny tr VK CtyFthlon IA¥ purpo888. AGC>xdin. thg Chawity is [nal¥ exempt from twtl)n In re8F of incomg w cptsl galns re¢8d wMI) c6tsgorfes Ivred by Chaplw 3 Port 11 of th8 cor¥tn Tax AGt 2010 or S8etknn 256 dthe Tayalon Qfcthgrgb GalK Act 1992, to lh& extent th81 in(m or gal are applled gxthwly to char5tÈ wjrpostt. 16 Tlnylble Ilx•d a••ei• d•w•d•tlon Tan9kn ffiX1 tir £5(Kl cf wK)re •r8 Llls•d arbj recognwj when lutuR ewitsmk neffits pmbaL4• and th• emt orya1 ofth• ass•t can be mUr& r•labty. T8rrfJit4e fixed a88ets inillalty recogntsed at rtht. After reccJnlbon. und8r the iTr)dd. tangltA8 fixgd Hss815 af• mÉasured at cost loss aceumaled depr8ciatK)n and any atDJmulatod imp8irment los86s. All Lts8 InFTl to briry a langlt4¢ flK¢d awt k)to Its workkng condrtlon shwkl bg ind180 In th• rrrelMntQ1 cosi D¢FY8aation l• ehÈrged as to alocate the cost ol tangt49 fix•d asgetsloss I1r value ov•rthelr esumgted tsfUl liv•s, wng the 5trnbJhtthè mathod. Depr•Gial IB prDvided on the foTr)wlng ba¥gB'. - stsaight liro o¥sr 10 s*ar8 Improvemerts to knaehold W4ykshop equlpment CorryJuierwiMpment - 8traloht Nne over 2 yèarrd - 8trai9ht ow4 years Trado arws othw rwni88d at lh• s•tu0rn arnount &ft•r tr8d8 dint offered. Prepayments are vAlued althe amnI pryKI nel ol any trade di8(Ets due. Z8 C••h •1 bank •nd ln Ibd Cash at bank in hand cash short-ttrm htgNy Hqj irwe5tsnonts a shcrt maturty of thr88 le from the dat? of acquL8Mlon ¢y opening of the or Sitt1r count P•J• 15
IqrE COLLEGE Not• to th• Flnandal Statm•nts For th• Y•ar Endwl 31 AwJu•t ptyli¢l•s Ic•rnllnv•dl 19 LknbIl1ti and prn¥lalon• LkbSlMies arg rgcc4JnW when thwe L% at thE B•Lgn( &88tdale as a of è p8s1 0¥8nt. It 19 probabkn that a tran8f•r of ecthiomic wll t• In s¢tUgTllgnl. and thg amunt oftho 8etUemnt bg gdrnJt8d 1olaW. LkbllUt • rewgrknd at the amwnt IPwt tho Charfty anthrAPatoJ it pay to 8•tt1e thè tht or thB amowt It reco a98dvanrd payThnl•fortt p)d$ or8ervlc86 It rN$t provkle. Prov5ww ar• measured at Ihe k•ot 9811m#l• of the omwrts ryulr8d to 8¢tUg th& oNkJthn. Whw• th• •ff•d of thg tlm• v4luè of nw)n•y ig m•torW. thè provlbbn 18 basad on th• prny8nt vAlu• of (hos• alrn11. diBeounted at th• prtrtAX ditsrAiunt rnte Ihat refi•cts tho rk$ 6peofi¢ to Ihfr lbIl[lY. The un¥bir¥Jng ol the discwnt ffj rwnlxé in the Statemgnt of Financial Activltkls #S 110 FlnNnol•l kn•lNm•nts Charity t)nly finand818B8eth and fln8ndal11obillb'eB ela klnd thalqualify a5 ba6k financ4al Inslrurn8nts. BÉ$lc ffinandal instrumuts arè inmaty re1Std at transth v8luo aThJ èquèntty measured at their Stttlement value the exP{lon of 103ns wNch arB b504uwrfy Mred at alrtISed eostU6kng the 9fle¢lTe Inlere8t method. 111 P•nolw Charlty twate8 8 d8finBd bonorrt pen6ion s¢hpme bythe Llal QtThYrnont Pen$h S¢heme rLGPS'I. Tho LGPS1g a fvnd 1rklU•?mrAor gL•m6 an(1 the ar• h•kl 98rArot•ty frcn lfv)se ofthg Charlty in 68par8ts admlnSstsred f1. $chom• assets 8r• m•asurwJ al falr volue axl liabli itlès am m•a•ur•d On an actyJaris1 ba8kl U8lng th• projected unft crgjit mthod ond (55crA4nted at a rate lo lh• wnent r8t• of r¢tfft a hhJh quafty tffjerf8te b(XKI of eqUal@t tèm d currnnl to the 1fjabilè8. Thè aclLwfiBI ¥88tiCS are obts.ned Èt k88t trfgnnlally 8nd 4re updated ateath Bakgnco Sheet dat. Thg W7K4ints ¢hryJ Ict cwaung Surp$ • th• curront WBts and thg £ts of xheme Introjuoth. b•ngfit dngos, setUomgnt8 aThJ curtaikngnts, am Included as part of¥tsff oJ8ts 8$ hujr1. Ng1 knrte108ton Iho ngt defirnd nofrt liabllbtylassel Is atso recr1• in th• Statement of Fln8n¢¥•l A¢ti¥ltse8 cowrlm the on Ihe defined b8n8frt obloAl•)n ond Interest on stherne a5$41s, ¢alrJJattyJ by MU"1 th¢ tsbTvalue ol the 8chemo asBets ¥t the bBginning oftl ped by tlw ratg [k8 to (tscount th• ot41gathons. The diff8r8rt botwo8n fv interest InLXm• on Ihe sthèmé assèts d th• ac1 on $them8 atssets L8 recogTh8ed in other ro¢ognl8od and k198. rfal galts and b)88 are rewgni8ad Imm•dlthly In other rae<w•J wns #nd kJ8& 112 Fund cco¥nth G¥81 funds ar• un9118d funds whh ar• avayabkn for Lpa8 #t thts th6crotroft ofth• TnJst In •Jnh•rarts of th¢ general objac1v of the Charity 8nd lh have rnt been d¢#Wed for otr Pag8 16
KITE GOLLEGE Note• t•lh• Flnancld siat•rd•nts Forth Y•ar End•d 31 Augugt 1023 Irom d¢)natl¢M and bgad Tot1 funds 2023 lund• 2023 2022 Grants Z300 Tcts12022 om• Irom ch•rltabl• •ctMtI As re5tal•d Unr••trkt•d lund• 2023 T•t•l fvnd8 2023 2022 EdUcaal OwJlbrro 1.564.915 1,564,915 Tdal 2022 88 rn8t8ted 55Q,340 th?.340 Olh•r in¢•mlng r••our¢•¥ A8 f8St•tsd Tot•1 funds 2023 2023 2022 CXherlnc4)mkng r•sowcgs 2.491 Total 2022 &8 rgsl•t6d Z491 2,491 Page 17
KITE COLLEGE Not•s to th• Fln•n¢lal St•i•m•nl• F•rth•Y•ar End•d 31 AugU#t 2023 An¥11 Of •¥p•Y1 on ¢h¥llabl• •¢tMU gummy by fund typ• UnMtriGt•d fvnd 2023 As mst•ted Tot•1 2023 2022 Educalion81 (Wa 1m2.962 1.001962 511,732 TO2022 as rnst4ted 511.732 511.732 Andy•ls Qf •XMIlUre by •dlvltFo1 undort#k•n 8upp¢rt dlr•rtly Total 2022 EduBatiwal 642.190 450,TT2 Im3962 511,732 TLknI 2022 •$ rnsf•t•d 244,350 267.3Vk 511,732 An•l$ ol dlr•ct co¥ts A6 rostsi8d To181 Edueallonol Tot41 fund• 2023 2022 691,461 17.6 11,1 21A69 .411 17,680 11,190 35,058 2,546 41,291 L•amèr rnoistrydtK and exam f¢gs Brht In prOfeSsal 8ervus 641190 f41190 244,350 Totsl 2022 ès m•t• 244.350 244.150 P8ge 18
iaTE COLLEGE Not•8 10 th• FIn881 Stt•m•nts Forth• Year End•il 31 Augult 2023 Any$l of Wntr• by xlMtIM I¢(tInOI Anal¥ Df •upportco•ts Educotlonal Op•r•tloni Tot•1 fvnd 2022 staifcoBts D¥preciotion st9ve1DpmWft Iraining ICT Towre Admin 8uppIo$ Bur¢ mwnten•nr¥ and roF41rs Chaning Waterand 8ffwagg &wrgy [ruran Caterlng supplbB Equipment leaslng Telopmne rKI f Adverbsinq Legal gnd profgthal fees CXh¢T 309207 30•,207 31.C62 31.1102 150.737 24037 4.fj13 14361 24,545 17,075 1.473 n7 T,857 2207 31.117 31.117 le.2 2,197 18.062 2.197 9,858 3,093 5.379 1.333 9M58 3,093 5J79 1J33 1,431 6,9815 7.367 4,Q85 750 2.619 22,21JJ 1619 450,772 450,772 261.382 T¢al 2022 •8 Mslad 267.382 26T.3J2 Audtt•M' r•rnun•rnlion 2022 Fees Yble to Ihe C*artys aalle< for oudlt erftha Charfifs amJal 16200 Fe85 payabl8 to lh• CIwfW¥ auditor kn wioGt rt. PJI n4udiL s8Nlc•s nol iaUdd abov• 4500 thg prfor year. th8 sublgd tr) an IndwNl•nt Ex#mWon. Ihb was urKl•rtaknn by Alson Robinson, Aims AccYJuntants for YU$lA6 for£750. Page 19
KITE COLLEGE Ncth to th• Flnanelal Stthm•nts Forth• Yr End•d 31 Auou•t 2023 Staff ¢o•ts AJ m8tstod 022 2023 Wages and salarieB so¢ty o)sts Pgrthn o)sts 661 J99 63.010 175 211.468 14364 91.365 314197 The rage nUMt olpw6cw 8ThrAoyad by the Chatlty (Jrfng ts y•wwas u KrYs. As Jpst8l&d 2022 2Q23 Teathlw Staff L•adershlp and Flnorna Suppert 12 2J 27 Thg numbw of OmplS Impkn lJ•n8ffts (•xdudiw •mF40sw plon Clts) •XLxoded 2tr22 In the bar £6D,001- £70,OCQ In the band £70,Q01- £80.0 Thg kBy Thanayemvnt por6wrnI of th• rhwlty 0prf8¢ of thg PThp on(1 Mafwgw. Totsl amount of erryli)yee bgnefts (in¢l1n9 empjoyer pgniion thinlribulons arKf •nW¢)yw n8t40nal cOntrlUrs re•d by key m8nagemoffj ptrnornNryl lor their 8efviLXS to Ihg tharity £146.482. 10. T•t. rnmun¢rtlon and •xp•TrM• rkn•)g the y8w. Tw$t•es rec4JÈ¥•d anyremunerallljn orothr benfjfi (2022- £NIU. Dwkng the Jyar erwknj 31 Aiwt 2023, no Tntse exprn6 boen (2022.£NILJ. p20
KITE COLLEGE Nots• to th• Stat•m•nts For th• Y•v End•d 31 Augut 2023 11. T•nglbh trlx•d ••Hts L4ng4•mi I•1hOld Pro G•M0• Compul•r lrnplrts Eiulpm•nt •4u¥¥m?Tht Total At 1 SWamber2022 AddMms 18.61• 5,139 21139 1&581 13131VI 75.2DS At 31 2023 23.756 31720 1$7.505 D•pr•¢lation At 1 S•ptombor2022 Chèrgo forthe yw 9.055 5.785 2414 31,M2 At 31 I9u312023 11Wg 21.116 54210 Pkl book v•lu• At 31 Augu$l 2023 7fjA71 23355 102,295 At31A•2022 81,4S¥) 17.354 104132 11 D•lorn As rnsta(pd 2ff22 2023 Du• wlthlTr on• y•8r Trnd• debtors Oth debtorn PrepayThor)1s and &xYu8d IntyJm• 42,450 1.012 10313 12,025 44135 Pag• 21
TE COLLEGE Not•• io th• Flnan¢id 8t•t•m•nl• Forth• Y•ar End•d 31 AugU•t 2ty2¥ 13. Crodlt•rn: Amowts 14llng du• trtNn y•¥ 2022 rloan$ Trade ry¢dltty¥ Otsr taxabon Jnd c¢W ••rJJrty Cther Acau8k and deferred in¢tymè 74.88e 10,308 7.317 446 142ri 125 27.898 8&495 54A IK693 2022 Dèlarrod kncom8 •t 1 SoFlernber 2022 Roul£5 dEfe¢41 th¢ (H9001 D•f•TY•d InGom• rt $1 Augu•t 2023 1& Flnan¢WI IMtnMn•nts Flnan¢l•l aM•ts Fhw¢K91 a$9ets meaJur8d #tfAir valu• 1hrth Inrxjmè Ènd oyrwjlturn 544,•n 143.560 15. Prfor YraU8Mnts Th8 prior ye8r love been reststed to hKI)rtate the Impart of th8 fal81 8t8t8msnts bew)g ppa on an IkwA)ff•¢t b8sB in the prior pgrlod behg,. Ihg rfyYgltrt8 and Peynts metlwjd ralher thHn thè acLwals ba5. rd assets belNJ 8xp•ns•d in ye8rr8ther than klina tho •cUnting )lity and the of tha p•nsion scheme liabilty. Tho change has resulied in a de¢rea¥o ui r8wwes bthl avallalA? as at 31 PAJgust 2022. dec31n9 by of wior year4(lIng Impacl Incras8 in fixed 886ets Inrleaso in debtots IrtL¥e8s• in tditOrS Inlrtwjucyon of penslon lablty 27,510 44245 (96,7851 P8.¢X)DI 1£5&0391 Pagg 22
KITE GOLLEGE Ntst•• toth• Ftrnn¢lal Stat•m•nl• Forth• Ye•r Endod 31 AugUt 2023 10. t•m•nt DI furnls Stat•m•nt of Currontyr Bal•nc• It 1 Bthn¢# •t G•W 31 Auqu•¢ kn¢om• Exp•nthur• ILo•w) 2022 Unre•trfct•d fun Unrostiitsd fund8 110.154 1,¥IOM01 11.IJ60.91 (12,11001 804853 40mQ 8I1S4 I.FIS,661 11,092.9621 40.000 Slat•nnl offvnd•- prlor y•ar 8al&no at I Sèpt•mbar UnmtrlGt•d funds Unrethcted funL18 247S5 555.131 f496.7fLJ 02.154 17. Surnm ol fvTrd• Surnm•ry offund&-rr•n1Y••T Balance •11 Ilthn at G•ln¥l 31 AwJt In¢om• Exp•ndllm (L¢Mul 2023 2022 Ggnernl funds 82.154 I5.•81 11.092.962) 604803 Surnrn offwids. wlor y•w 1 Septembei 31 Atw¥t Gtnèral 21T55 554131 (496.732J 8ZI54 Py23
KITE COLLEGE Not•s io th• FInacIal Slt•m•nts Forth•Y•ar End•d 31 August 2023 18. Analy•l• gen•t 1•¢1 b•lbwn funds AndyAl• of n•t ass•ts b•tw•n fvTrxl8. rArr•nt y• Tolal lund¥ Tanglbkn fix•d 815•ts 101296 $57.004 154,446) iou J67.004 Cr¥dllorn dug wlthin ¢Jne ye &)4.853 604853 An•l• ofn•tl•Ll ITh fund•. wlory••r 2022 2022 T8nglbl• fa•d &Bs¢ts Currert as%ts cltorS dug wlhin om 8T PthiisN)n6 for IlablllknB ond ¢harggS 108,152 108,152 187,695 187,695 (18&693) {18&3) r2&LWJ 124OOOJ Tt)tsl 81154 82.154 19. R•conclll•11on of n•t moY•rn•nt In lundl ¢0 not cuh flty*from opgrntlng actr 23 2022 N•t kncomo forts year IAS wSt8t•ment of FInen¢81 4B2,899 41399 Affju•lm•ntsf•r. De•11¢ c D•ereosellln¢reasel in debtor5 Inase1{do(XeasO> in LGPS 31,002 32,110 {$43591 12.(#)O 24.147 (44,135) 710,057 N•t cA•h wovld•d bY0on9 •¢tMII•8 501.012 17&468 Pag? 24
KITE CLEGE Not•• t•th• FinnclAI 81at•m•nts Forth• Y•ar Endéd 91 Augu•t 2023 2th An&lyil¥ of¢a•h •nd B equ119Thts 2022 C88h h h•nd $14979 143.560 Tgtal Ea•h )d ¢Mh •4th¥al•nt• $44.•79 1rf580 21. Anily4h of chanw In n•t d•bl At31 Au9ll•t 2Q23 S•pknb•r 2022 C••hllo Cash at bank In hand Debt within 1 #r 143,5eo (74.8Bei 401.419 74.818 544979 e8,8Ta 478J07 544.979 21 ContlTro•rt Il•Mttlo8 lfjl• Cdjege has entered inkn * lèa4• 8gr8wn•nt Ythh Kent CcJnty Cfyjneil. ller theh rental payMts are due. The c>Jllagè i8 lIe1) in ¢Jswl8 wth ltsnt Cevnty C(fficll over werdlI Ik& whth ware du8 to l•k¢ plBe¢ prk to 0pation tsul 8re syl outstandng.ll Is Ihg bew olthe InJees Ilat no •mDunts wll b8 duo untl aftor the redI#l wyjrks hHv• takon pla¢9. Jf In the rarn T510nc? that KCC ¢hge bada[0d TOnt4llhis polnL tho potenllal liotslly to th• 11 £45,833. P•n•lon commNm•nt# The Ch8dty opomtse o defined b•n•fft panslon 8thome. The Charitys 0mpkn8 b•k)ng to Lal Govammént Ponsion SC)0 ILGPS}. whkh18 rn8nBged by K#nt County C(rtm. Thg latOSt acluBri valauti oflhg LGPS r•ld to the P•Tlod wL1ed 31 2022. Tha LGPS 16 8 rtded definwj benefit Ponthn s¢h•m?. vAth hdd h tru?te admlnlstered fvnds. Th8 totsl tbIrt10n rnade far thè year ended 31 AKJui 2023 thw £212,tX {12tr22- £55,000), of Ibthlcl) e10yerS rtribUtn5 lole £l67,0(2022- £42.0001 and employee'6 nlribLthn5 totaled £45AIfy)12C122- £13.0001. The ae Mles for future years are 20.8 r cwt tsemKdoyer8 and ¥8rlabb per cent empW& Pag• 25
IQTE COLLEGE Ilot4• to th• Flnaneial Stt•m•nts Forth• Y•trEnd•d 31 A•1 2023 P•n•5Dn commltmethts (¢gntlhu•dl Prfrrtipal a¢tuaiio1 aB8umptionssl th• BalarKe Shp8t datè l•xprossed aB vnvJhtsd avar896s).' At37 AUgt At 31 23 2022 Dl8CQUrt ratè Fut galary IrKrea8e8 Fuknwe Ineroo $2S 2JO The curmnt rnortallty 8s8umptw inclth 8uffidont almnce lor lutLTr Improv•mrts In mct rales. Tho asuNJ If6 oy¢tationB on f•llYèm8nt ag• 65 arn.. At31 Augy•t At 31 A(yu 2023 2022 Y•ars Ithttiiafjty rates (ln 413) -ts ¥ malg og¢l 05 r#)w - at 65 for a mal8 agèd 45 nCAY -for a female 89ed 65 - at 65for a fernd8¥oed 45 w 21.0 22.3 Th8 ChaWB thareofthB 86E•ts In tho srhme was., At31 Augu•t At31 Awt 2022 Eqult Glts (Rh•r knd¥ Pmpgrty Cash al other ItwNI Assets Absdute relum 406MO 284.oc 401x1 88.000 64.000 7.000 40.000 24,000 31.OCQ T+>tsl tslrvaluo of u••ts .000 43ZO Th88th81 rettjm on 8chemg 85*ts WO8£-5.000 (2022-£-I.c(oI. P8ge 26
KrrE COLLEGE Nvtg¥ to th• FlnancFal 3t•tn•nts For th• Y•irEnd•d 31 Au#u 2023 23. P•nthn ¢onmlkn•nts l¢onflnwd) Thè amowts reL¥JgnM•d In the Stolement of Fknarnial AcIMt6 are as fcdlw.. 2022 Intw•st inLTh Inter¢ ¢0 123,OfyJl 210 Tot1 th• Statffiwm FIMnd•l A¢th7ltl•• {3.1)001 N)v•mènt• kn tho prsB8ntvalu• of thg dolned bw011t obltothn wwe as0. Owlng (Igfinqd beneTr oblighkn 460.000 20,000 45.000 13.CQO 1171,OM) 362CW C1y)tUoTr8 by schewffj Foibdpants Actrf d•finqd b•n•fit obll9atlon 375,Cikl k)vsments Sn the f8lrvalu8 oflho Charitys share ofvth•m8 gSS•ts 8$ fthys: 2023 Opening 'r value ofsclwme a$tY 432.000 23.000 pe,¢)001 971.xI 167,000 42.cw Actua1 Il¢)Kosygalro CofttribLthn8 by8M1•r Contrfbuibns by 8(wn8 p8itictyJ8nt8 Closlw falrvhM otKh•m• 432.0 The Ch#rity ha6 an unre(A)wMd 8urplus of £103.ow in r•spect ol ils defin•l beftefft p1 scheme ag does r*)t expect lo reL>)ver Ihe Jkn s1 erth•r thmugh Mdu¢¢d £ontn"bUti$ In the future or through rnfvnd$fromth¢ plgn. Py27
KITE COLLEGE Nota• to th• Flnanelal Strt•m•nts Forth• Year Endgd 31 AugYSt2023 Op•ratlng l••M mmIbn•ts At 31 August 20ZJ tho ChaFIty had cornfflilm•nts to rnake fure minimum 18ase pasffl1ts undof nD cartellabb opgraling Ibesgs as follcwm". t Lqtor 195 Th• k9t paJm¢rts hava beon rwnw 88 on •xpeMe in thD StoteThnt of Finnc4al ActMIkn&' 2022 Operaliry lew rents no During Ihe year. the c£4gge w?ived a grant totsling 15.Sty) (2022.. £NiD from Red HIUTwst. D ch8TIty whith Bob Law. tha Cth£ir of th• Cdleg9. a Trustee. PayThonts ¥e 10 The Socla. Emopb"onal and Behavloural DKults8$ A$8oc4ation ISEaDAk a 3rkn Law h a TnJ8téè of, totsifing t1A1612022'. £MII. At thg 8#lartg Sheet date. ntj 8mwnts re owgj w ryMng In rektK)n tc tr8n88dons. Durfro ygar. th• ct4W has mile repaan(S of a ksan from S Badder, the preyK Prwpd, totan£ £74m8 P022 - £37,444). Thè losn was reid wlth no knt•r•st cherg8d in ethr yew. At Ihe ytrar OMS. the OLtstanthrvJ baLqncè to S B•Jderwds £NIl2-£74.888I. Pag• 28