Charity numb•r: 1193244
KITE COLLEGE
Trustees. Report and Flnanclal Stslements
For the Year Ended 31 August 2024

KITE COLLEGE
Conl•nts
Pagè
R•forgnce and Admlnlstratlw Dètails of the Chaffty. Ils Trn$10￿ and Advis•rs
Trustses. R•port
TNJtees' R•spon¥ibiliti•s Stat•m•nl
Ind•p•nd•nt Audllvrs. Report on th• Flnanclal Statsm•nts
Ststsmenl of Financlal Actlvltl•8
8-11
12
Balanc• Sh•gt
13
Stal•m•nt ol Cash Flo
14
Notes to thè Flnancial Statements
15-31

KrrE COLLEGE
Reference and Admlnlstrativè Dètails of lh• Chwlty. Its Tru$t••s and *AIvis8v5
For th• Y•*r Endgd 31 August 2024
Trus199S
Bob L#w, Choir
Josephine Campbell
John Saville 88nUey
Simon Bounds (resigned 4 December 20241
Peter William Stewart (r8sign8d 28 May 2024}
Nikki Clark
Tlmothy O'connor
Stephanie B8iardo18ppointed 27 March 2024>
Rose Bradlgy
Pam Jone8
Neil Paul (resigned 31 December 2024)
Emma HaNey lapwlnted 27 March 20241
Joan￿ 018gboyega {appointsd 27 March 2024)
N1￿)la Petrl lappolnted 27 March 2024}
Emma Gray (appointed 4 December 20241
Nell ReesvDavies lapFyointsd 9 Octthr 2024)
Charlty reglstorod
number
1193244
Prlnclpal offic•
Unit 1 Bonham Dfve
EuYolir* Business Pa
Sitbngboume
Kent
ME10 3RY
Senlor Manag•ment
Tèam
S. 8addgr- Principal Iresignod 31st January 2024}
S. MIl￿r- Interim Principal lappolnted March 2024>
G. Ward- Intsrim Business Manager {reslgned 31st August 2024}
H.Cardy- Colleg8 Buslness managor lappoinled 19th August 2024)
A. While (resigned 30th December 2023)
Independent •udltors
Xeinadin Audit Limited
Chartered A¢￿untants
Statutory Auditor
12 Conqueror Court
Sittingboume
Kant
ME10 5BH
Pag8 1

KrrE COLLEGE
Trustees. Report
For th• Yoar End•d 31 August 2024
The trustees present thelr annual report together wth the financ￿1 stst8m8nts and audltorfs report of the
charitable company for the year 1 September 2023 to 31 August 2024. The Annual Report serve8 the purposes
of both a Tru8tse8' report and 8 dlrectors. r8POrt under (¥Jmpany18W.
ObJ•¢tlv•* and activiti•%
a. Pollcles and oWctlve$
To be Kent'$ leading indgpendent speclalSst educalon and Irainlng pr￿S1on for Post 16 ￿arne[S wlih SEND,
who hold a Gurrent EHCP.
In sethng objectives and plannlng for actMtles, the Twstees have glven due consideralion to gener81 guldan¢8
publlshed by the Chadty Commission rela￿ng to public benefiL includlr4J the guidarkce 'Publlc benefit: runnlng a
charity (PB2}'.
b. s￿t*91*s for •chi•vlng obJ•Gtlves
To increase Specialist provlslon for yDung people across Kent, developing the I￿￿1 offer. KITE College o1$0
accepts young peopl8 from other Local Authorities through slalutory consultation. KITE College is not SeclKJn
41 approved. and thgrgfore Local Auihoritios are unable to name this provi8N)n without agre8mgnL
c. Activitios und•rtak•n lo •ehlwe obJ•ctlv•s
To improve life cha￿$ and opportunltS&s lo all young people ￿th leamlng dSff*ulUes and SEMH needs throu
amb￿oUS and Inspirat￿nal. lrfelong leaming and skills programmes.
These Include V￿lIc￿81 training in..
Construction.
Motor Vehlclg Technolc*3y,
Hair and Beauty
EmpW)ilty & Lrfo Skills
Addibonalty fomial qualmlcattons In Math8 and Eng1I8h.
The College, Is leased from Kènt County Courril and Is loeatèd on th& Euro Llnk Industrfal Estala
Siiknngboume. op8ned on 1st S8PtemboT 2021.
Our Valut
Kindness
Intggrfty
Toleronce
Excellence
d. Maln 0￿1VItIeS undertaken to further thè Charltys purp080s for the publlc benollt
The colknge provldes a range of full timo vocational training opportunili8s as well as Math$ and English for ts
Students, funded by the public purse. aimed ulbrnat8ly at them being ready and abl8 to enter th8 W(￿ of work
8nd become a productlve member ofthe communlty.
Page 2

KrrE COLLEGE
TMstse$' R•port lcontlnuedl
For the Y•ar Ended 31 ￿9￿$* ¥J24
Achlovem•nts and p•rforman
•. IA•ln achlav•ments of th• Charity
Duftng the academlc year. tho ¢011og6 $UFVOrt8d 80me 82 students. 68 were from Kent V￿th 14 from 5 olher
authortties.
b. W ￿rforManCe indicatorn
The collega has a range of KP15 moving from the numb8r of students it supports to more detailed ones Ihal
document th? incroa$ing academicl vocational development of its students to how many of its students move
into employmenl of fvrther education.
e. R•vlew of actlvttlo•
Thg PrinGipal rgwrts on a regular ba$k8 on the activities 8nd operation of the eonege and adjusts the offers
available annually to Ihe students based upon the demandslrequests of the students and thelr famllles.
d. Factors r•lavant to athle￿ objoctlvos
The college ensures they have employthy the necessary qualty staffing to teach and support the students and
monitor this regularfy.
. Fundralslng actlvltlo$ and In¢omfj g•neration
No frjndralslng actfvlleg other than an OccasK￿lI grant bld
Flnanclal r•vhw
a. Golng
After making appropriate erNuiries, the Trust•es have a reasonable expectation that the Charfty has adequate
resources lo continue in operational exlslence for the foreseeablè ftrtur&. For this reascffl, they wntinue to adopt
the golng concem basis in preparing the fin8nci81 ststements. Further detslls regarding the adoption of thè
going concern basis can be found in the acwunting kxJIicigS.
b. R•sorvos policy
The Trustee8 fom)ally appft)ved a policy On 16th July vknlch has a targat mlnlmum reserve of £300k wh￿h is
ba$ed upon tsvo months runnlng costs.
As the college is publiGty funded the concern$ are a￿ut deL8ys in fUnd￿g being recelved. a reduction in learner
numbers and unfcfeseen emergenues.
Pag8 3

KITE COLLEGE
Trusteos. Report Icontlnued)
For tho Yoar Endod 31 August 2024
c. Revlew
The Coll8go contbnugd to grow during the year both in temis of thdent numbws and financialty and the y80r
ended with the colle￿ securing ts EFSA hlgh ￿ed$ fvTraing contract from August 2023 and recelved ￿8 flrst
payment in August.
As the College w8s still in its infancy and developlng it had not established a Reserves policy that applied io Ihat
year other than needlng to ensure that it had sufficient funds to allow the College to flourish. Gtsing forward with
the College w)ts'nuing to grow il will put in pl￿8 a Reserve8 pollcy.
The Cl)I￿ge is funded though the ESFA funding 8greemenl, a$ well 05 High Needs Fundlng rec8ive¥J directly
from KCC SEN. Indwidual Funiling Arrar*dements IIFAS) th a small numb&r of Othgr Local Authorilies. are in
place. for non-Kenl young people at the College.
d. PrlnGlpal rfsks and uncertalnlles
Thè eollego whllsl belng publicty fundgd and supporting a category of students where to numbgrs contlnue to
$e localty 18 always at rfsk of funding being reduc*d or not keeping pace with inflation and the funders
reduclng the numbèr of student$ they are prepared to 8UPF<Jrt.
•. Flnancial risk rn•nag•m9nt oblectlves and policies
No pollcy18 currently In pl8eè. bLrt 8 Rlsk RegSster Ss due to be devewd shorlly. On an on4Joing basis the risks
are consldered al each meeting ofthe SFP when it revlews the management ac[￿nts
Structur•p go¥•manc• and manag•ment
a. Constitutlon
KITE Colknge was reg15tered wlth the Charfty Commisston on 261h January 2021 a8 a Charitabkry InCor￿rated
Organisation {CIO) wlth a board of trustees consislng of 9 mgm￿1$.
b. Methods of appolntment or election of Trustoes
The management of the Charity is the responsibility of the Trustees who are 8￿cted aThJ Co￿pIed undor the
lern$ of the Trust deed.
c. Organlsatlonal structurn and d•Glslon￿￿a￿Ing pollcles
Trust has one full Commrttee SUFfSQrted by 2 permanent sub committe68'.
Stsffing. Fln8nee and Premises ISFPI
Leaming and Indusion {Ul
And a Pay Committeg Is appolnted when needed during the year.
Day to day operational and financial decisions are d818gatsd to Ihg Principal but the approved Financo PollGy
sets out when and where aFproval bs needed frC￿ either Ihe SFP or the Board.
Page 4

K￿E COLLEGE
Trustsès. R•port I￿n10Th￿ed)
For th• Yaor Endod 31 August 2024
Structure. governane• and m•nwment {¢ontinu•dl
d. PoliclOB adoptod for thè Indu¢tlon and tralnlng of Trusto
TYuslee3 are appointed to KrrE College primarity based on thelr skllls. expertence. expertlse. and quallfttlony.
Skllls and Expa￿se. Trustegs are appolnted based on thelr specTrl¢ sknlls and expe￿$& that align
with the needs of KITE College. For example. finance, business. HR, health and safety. Soclal
SeNce3, health & wellbeing, psychow, education and qualty control inspection.
Experlence: Twstees bllng valuable experien(* from Ihelr professKinal or personal b8d(grounds
that can benefit KITE College. This could inctude oxpwience In leade￿hiP rdgs, strateglc
planning. fun(Iraising. or community engagement.
QualificaUon8'. Trustee¥ may have specific qualifica￿￿￿ that make them well-sutted for their
roles.
These could indudo oducallonal degroes. profes8KJnal cerbfications, or relevant training in ar&8S
Such as governance. law. or management.
Dfv8rstty'. Diverslty among trustees is crucial to ensuring a welkrounded and Inclus￿ govèming
b(Kly. TNstees from diverse backgrounds bring drM&rent persFedwes, ideas, and approachos to
problem-sofvino, whlch can endth thè d&¢rsion4naklng protÈss and botter represont th8 interests
of the organizalicffl's slakeholders.
Skills*ap an8￿1$ Is undertaken on a regular basis. When gaps are Identllled suitable practitloners ar6 sort.
approached & proposed by current trust members andlor the principal and rf secondgd then Cvs and &os are
shared wllh all sitting trustees and voted on al full trustee meetings.
All Trustees rec￿ve a planned inductlon whith is supplemented by èxtern81 providers as necessary. New
trustees are Provided with a copy of'GUIDANCE The essential Irusle&.' what you need to know. what you n*
to do.. made aware of the instrument of gov8mance for KrrE£ollege arKI reminded thot all trustee8 aro
required to folbw th8 No￿n prSnapleB (C￿nduCt in public offl￿)
e. Pay poll¢y for key management personnel
All key management posts have a Set grad8 and are incrnased annually after a ievi8w by the appointsd Pay
Committee ar￿ agreed by the Board of Trustees.
f. R•lated party rdatlonshlps
The Trustees are drawn from 8 variety of organisation8 that support or have an interest wi the typ8 of $lLthnt
that the college supports.
The Chalr of Twstees also holds posluons at othor chadtles thrg thgre were financial Ir4nsactlon8 durfng
tho year.
g. Financial rl$k manag•ment
The Trustees have assessed the major risks to which the Charity is gxFwd, #i particular those related to the
opèrBtions and finarths of the Charlty. and ore satisfied that systems and procedures are In place to milvJ8te
exposure to th& major ri5k8.
Plans forluture p•riods
The college Is filllng a gap in the 8Ltpport that is avallable to ils studants as Is evident in the grovlng numbgr of
applicatlons for places at the college that has more than doubled in the last year.
Looking forward. th8 Trustee$ plan to Increase the numbers they can a¢¢owwnodate in SiiUngb)ume whmst
expanding Its operalKin to other locations ac¥oss the county.
Page S

KITE COLLEGE
Trusteas. R&port l¢ontinued}
For th• Yoar Ended 31 August 2024
Dis¢losur• of Inforni•tion lo audltor8
Each ofthe parsons who are Truste88 al the time when thts Tru8tees' Report is approved has 0)nfim)8d that
$0 far as that Trustee is avr4ro. thore is no relgvant audtt Inform8Uon of whlch the charitys 8LKlltor8 are
unaware, ar
that Trustae has taken 811 the steps that ought to have been takon 83 a Trustee in order to be aware of
any relevant audit infomialion 8nd to estsblish that the charitys audrtors are awarg of that infomation.
Audltor4
The auditors, Xeinadin Audit Limited. have indicatsd their wllingness to continue in office. The dgsignated
Trustees will propose a motion reappointing the auditors 8t a meeting of the Trustees.
Approved
the
members
board
and slgned on thelr behaw by:
Tvu8t¢es
on
8gb
ir of Trus180s)
Pag8 6

KrrE COLLEGE
Stat•m•nt of Tru$tMs' re$pon$ibilltl•s
For th? Year Ended 31 August 2Q24
The Twstees ar8 r95pcKislble preparfng tha Truslo0$' Report and the finandal statements In accordance
with applicable law and United Kiwdom A￿Unting Stsndards Iunlled Kingdom Generally Accepted
Accountmg Practice).
The law applical￿e to charities In England & Wales requires the Trustees to prepare flnanc4al Statements for
oach financial which give a true and fair vtew of the state of affalrs of the Charity and of its in¢oming resources
and appllcation ol resources, including its income and gxpendilure. for that Poriod. In preparlng thgse finarri81
statements, ￿ Trustees are required to:
sel8cl $ukiabla accounting poll¢iO$ and thgn apply them conslstenty.
observe the methods and prfnciples of the Charities SORP {FRS 102).,
maka judgments and acuuntlng estimates that are reasonable and prudent
state whether applicable UK Accounting Standards IFRS 102} have been followed, sublect to any
material d8parbJres disclosed arbd expLained in the financlal statements,"
prepare the financial ststemenls on the going wnoern basis unles8 It18 Inapproprlats lo presume that the
Charity will ¢(￿1￿u@ in bJsln8ss.
The Trust88s are responsitle for koeping adequate accounting records that are sufficient to Show and explain
thg Charivs transactions and disclose with reasonable accuracy at any timo the financlal poslth)n of the Charity
and enab￿ them to ensure Ihal the financi81 statements Gompty the Charities Act 2011. the Charity
(Accounts and R8POrtsl Regulations 2008 and the provlslons of the Twst deed. They are also responslble for
safeguarding the ass91$ of the Charity and h8nce for taking reasonable steps the pre¥9ntion and deteciion of
fraud and other irregul8rilie8.
Approvfyj
order
of
Ihg
members
the
of
and signed on ils behaw by:
Truste68
on
8ob La
(Chair
fusteesl
Page 7

KrrE COLLEGE
Indep•nd•nt Audltors. Rgport to Iho Momb•rs of KITE Coll•
Oplnlon
We have audlted the finan￿al ststem8nts of KITE College (the 'thariW> for th9 year ended 31 Al￿Ust 2024
ich comprlse the Stalemenl of Finanaal A¢bvib8s, the Balance Shee( the Statement of Cash Fbws and the
related notes. includlng a summary of signifKant accounting PKJli¢ies. The financial reporting framework that has
beèn appllad in their preparation is applicable law and United lQngdom Accounting Standards, including
Finanoal Reporting Standard 102 'Th0 Financial Reporling Stsndard applicable in the UK and Republic of
Ireland, (United Kingdom Genorydlly Aceèpted Accountlng Pr8clice).
The flnanclal 8tstements have been prepar8d In 8ccordance th Accounting Ond Rewrting by Charltles
preparlng Ihelr acwunts In accordan￿ with the Flnandal Reporting Standards app&cabl8 in the UK and
Republic of Ireland IFRS 102) in preference to th6 Aco)untlng and Rewrtlng by Chariti8s'. Statement of
Recomm8nde(I Practice issugd on 1 April 2005 whith is referred to In the &xt8nt regulattons but has been
withdrawn.
Thk8 ha8 been done in order for the accounls to provide a tNe ar￿ fair vmv in accordance with the Gengrally
Accepted Accounting Practsce effective for reporting periods beglnnlng on or after 1 January 2015.
In our opinion the financial statements:
glve a true and falr view of the state of the ¢hority$ affalrs as at 31 ALVUSt 2024 and of Its incomlng
resourc4s and application of reSoUr￿S for the year then ended,.
have boen properfy wapared in accordanGe v*ith Unmed Klngdom Generally Accepted Accounting
Practi¢g,' and
have been prepared In acKordance vAth the requirements of the Charllles Act 2011.
Basls for oplnion
We conducled our 8udit in accordance wtth Intemational Standar(Is on AuditirrfJ (UK) {ISAs IUKII and applicat49
law. Our responsibilities under those standards are further described In the ALKlitors' reswnsibilities for the audit
of the financial statemgnts section of our report. We are Independent of the charity In accordance ¥wth the
ethical ￿qUIreMents that a￿ relevant to our audlt of the fin8ncial statements in the Unlled Kingdom. indudlng
the Finanelal Reporting Council's Ethical Standartl, and we have fulfilled our other elhie41 responsibilltles In
accord8ftce with these requlrements. We bolieve that the audit evid￿￿9 we have obtaingd is sufficlont and
approprialg Io FwvSde a basis fry our oplnbn.
Concluslons r•l•llng to golng Goncorn
In audltlng the finand818talÈments. we have conduded that th8 TYuslees' use of the golng concem bas18 of
aoGounUng in the preparation of the financlal ststements Is appropriate.
Based on the work have perfomied, we have not identified any mat8rf81 uncertainties relating to events t
conditions that, indiwdually or wllectivtly, may significant doubl on the charitys 8t41ity to conlnuè as
going concem for a peritid of at least twelve month$ from when the finanoal slalemonls are aulhorised for
issue.
Our r8sp0nsll￿lltleS and the reswnsibilil'es of the Trustee8 wSth respect to goir¥J concem are descdbed in Ihe
relevant sections of this rfjport.
Pag8 8

KfTE COLLEGE
Ind•p•nd•nt Audltors. Report to Ihe Mombors of KITE Collo9• (conllnu•d)
Other Inforn)atlon
other information comprises the informalion i￿lWJed In the Annual Rw)rt other than the financial
slalements and our Auditors, Rek)Ort thereon. The Trustees are responsible lor the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other informatson arKI.
except to the extent otherwlse explicrtly staled in our retKJrt W8 do not express any form of assurance
conclusion thereon. Our responsibility is lo read the other informallon and, in doing so, C￿91￿er whether the
olh8r inforrnallon is mat8rially inconsistent with the financial ststements or our knowledg& obtained in the cour8e
of Ihe 8udll. or otherwise appears to b8 materiolly mlsstatod. If we idenlfy such malarial inconslstencies or
apparent material mlsstatsments, we are requlred to detemine whother this gwes rise to a material
mk8Statement In the financial $tatements themselves. If. b8sed on the work we have perfomed, wo condude
that th8rg 1$ a materlal misstatement of thi8 Other infomiatlon. we are requlred to r6port thatfa￿.
W6 have nothing to report in this rega￿.
Matters on whl¢h wo are roqulr•d to r•port by exceptlon
We have nothirg to report in respect of the follo5￿n9 matter8 wh6rn the char￿88 (Accounts and Rep￿ts}
Regulations 2008 requires us to report to you rf, in our opinion-
the Infomi8tlon glven in th8 Trusteès. Report k8 In￿￿81¥tent In material re8P8Ct with the financial
stslements,. or
sufficient accountlng records have not been kept.. or
the financial ststements are not in 8greement ¥￿th the accoun￿￿ records and relums,. or
wa have not rec8ivod all lh9 Infom)atitin and explonabons we rnqulre for our audit.
R•sponslblllth8 of trnst••$
As explalned more fully in the Truste8s' Responsibilities Statement. the Trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for suth inlemal control as the
Trustees determine is na￿Sary lo enable the Fwarat•)n of financial statements that are fr88 from material
misstatemen( whether due lo fraud or arTOr.
In preparing the financial statements. the Trustees are re8ponslble lor assessing the chartys abilty to continue
as a going concern, disclosing, as applicable. mattèrs rekted to going concern and using the golng concem
b8Si8 of accounting unless th8 Trustees either intènd to liquidate the charity or to wrations. or have no
r@alls￿C alternative but to do so.
Pag8 9

KITE COLLEGE
Ind•p•nd•nt Audltors. Report to th• M•mb•rs of KITE Coll•ge (conllnuod)
Audit¢Jrs' rnsponslbllltlos for th9 audh of tho Ilnanclal stat￿7•￿￿
We have been appolnted as auditor under secti(m 144 of the Chariti85 Ad 2011 and report In aoKordance
Ihe Act and rel8vant regulations made Cf havlng effect thereunder.
Our objectNes are to obtaSn reasonab16 assuranee about whether the fln8ncial ststernents a$ a vAK)le are free
from material misstatgmtsnl, thether due lo fraud or error, an¢J to i8su8 an Audrtors. Rew)rt that Indudas our
opinlon. Reasonable assurancè is a high 18v81 of assurance, bul 1$ not o guarant90 that an audh wnducted in
accordance wrth ISA5 IUKI will a￿ayS detect 8 m8terlal misstatemgnt wh8n it exists. Mlsstatements can arfsg
from fraud or error and are eonsidered materi81 If. Indlwdually or In the aggregate. they ¢ouhJ r8asonabiy be
expectsd lo influence the economlc declslons of users taken on Ihe basls of these lknandal statements.
IrreguLgrities. including fraud, *e instances of non<omplSance wlth laws and rewlations. We de8kJn
procedures In line Nwth our responsibilrfies, ouUin8d above, lo detect material misstatements In resp8cI of
Irrngularities. including fraud. The extent to whlch our procedures are capable of d8le¢ting irregukritifjs,
induding fraud is detsiled below:
As part of an audit in awrdance with ISAS {UKI. exercise profosstonal Sudgement and mairitsin professlonal
scepticism through the audit. We al80:
1. Ass8ssed the susceplbllity of tha 8nlWs financi81 ststements to material misstalgmen( I￿lUdIng how fraud
may ctcur.
2. Held dlscussfon8 Wtth the client rggardlng thelr pollcies and prw8duros on 03mplianco with laws and
regulallons.
3. Held discussions wiu) the client regardlng thelr polldes and prctedures on fraud risks, InckKllng knowjedge of
any acbjal suspected or alleged fraud.
We conslder the èntitys wntrols effedve In Identylng fraud. We do not ojnsider there to be significant
dlfficulty In detecting irrggularilie8.
Because of the inherent limitations of an audit, there is a rfsk that we wlll not detect all irregularities, Sncludlng
those leadlng to a material mi$stalemeFrt in the financAal statèments or non-compliance wilh reguklon. Thls risk
Incr88ses the more that compllance wlth a Lqw or regulation is removed from the events and transaction$
refleded in the financlal ststemènts. as we will be less likely to bec4Jme aware of instsnces of nonrycknmplianca.
The risk 15 also greater regarding IrreguLqriti88 occurtlng due to fraud rather Ihan en)r, as fraud Involves
intentional ¢onc8almenL fofgory. coIIush)n, omlsslon or misrepresgntstV￿.
A fvrther description of our responsibil￿eS for the aLKlit of the financial stat8monls is loc*ted on the Financial
Reporting Coundfs w6bsite at.. w￿fre.
.ukJ8￿JitorSreS
onslblllties. This desulitKJn fomis part of our
Auditors. Report.
P•Jo 10

KITE COLLEGE
Indepondent Audlt¢Ys' Roport to the Membens of KITE Coll•go (continued}
Us• of our rnport
Th1$ report is made solely to the charitls truste&s, as a body. In accordance wtth Part 4 of the Ch8riti8s
(Accounts and Réportsl Regulations 2008. Our aLwJIt wC￿k has been undertaken so thal we might state to the
chariws trustees those matters we aré required lo stat8 to them in an Auditors, Report and for no other
purpose. To the fullast extent permitted by law. wè do not a￿ept or assume responsibility lo anyone other than
the chartty and its trustees, as 8 brxly, for our audit work, for this reporl. or for the opinions we hav8 formed.
%..L IL,11 L.1 I
X•lnadln Audlt Llmlted
charta￿d Accountants
Statutory Auditor
12 ConquerLY Court
Sittinobourne
Kent
ME10 5BH
Date:
3 l 2oZS
Xeinadin Audit Limited are eligible to act as auditors in lemis of section 1212 of the Companies Act 2006.
Page 11

KrrE COLLEOE
Statsm•nt of financlal actlvltl•$
For th• Yew Ended 31 August 2024
As restated
Tot81
funds
2023
Unrn8tslct•d
fund$
2024
R•strfcted
funds
2024
Total
funds
2024
Income from:
Donations and legacles
Charitsbbe activltles
Investments
Other Incom8
2.401
2,401
1,688,337
6.000
4,101
5.500
1.491,280
1,688.337
6,1)00
4.101
2,246
Total Ineom
1,698,438
2.401
1,700.839
1.502.926
Expondlture on:
Charitable advtues
1.691852
2.401
1,695.253
1.092,962
Tol•l gxpgndllur•
1,692.852
2.401
1.695.253
1,092,962
Nèt movement In fund$ b•for• oth•r
rn¢ognl$¢d galnslllosses)
5,586
409.064
Oth•r r•¢Ogni￿d galnsl(loss•s}:
Actuarial gains on defined benafft
pension schemes
Pension 8urplus not recogn18ed
23.000
{81.000)
23,000
(81,0001
143,OLLI
(103.000)
23
Net movemfrnt In funds
152.4141
152.414)
449.064
R•conclllatlon of funds:
Total fvnds brought foM8rd
Nel rrK)vement In funds
531,218
152N14)
531.218
(52.4141
82,154
Total lunds carrled forward
478,804
478,804
531.218
The Statement of Fwianaal ktNities IrKludes 811 gains ond losses re(x)gnis8d in the year.
The notes on pages 15 to 31 form port of these fin8ndal ststsments.
Pag8 12

KITE COLLEGE
Balance Sheèt
As at 31 August 2024
AS reslaled
2023
2024
Fix•d a$$•ts
Tanglbl8 assets
Current assèts
11
154,550
102,295
Debtor8
Cash at bank and in hand
12
17.420
513.436
12,025
544,979
530,856
557,004
Cr&lltors; anK*unts falllng dug wlthin one
year
13
206,602
(128.081)
Nèt ¢urr•nt ￿Sets
324,254
428,923
Total net assets
478.804
53t,218
Charfty funds
Restrfcted funds
Unrestricted funds
16
478.804
531.218
Total funds
478,804
531,218
The financkql ststements were approved and aulhorised fw issue by tha Trustffis on
and signed on thek bghalf by.
Bob Law
IChaSr of
21rtAL
slees)
The
es on pages 15 to 31 form part of these finaNaal statements.
P4ge 13

KrrE COLLEGE
stat￿Ment of Cash Flow8
For the Year Ended 31 August 2024
2024
2023
Cash flows from oporatlng a¢Uvltlg$
Net Gash used Sn operallng a¢tivitie5
56,512
601,512
Cash flows from Invostlng actlvhle8
Purchase ol tangible fixod a88ets
{88.055}
(25.205)
N•t cash US￿ in investing a¢tlvltlo$
(88,0551
125,2051
Cuh ffl0￿ from financlng activilios
Repayrnents of borrowlng
{74,888)
N•t cash provided byl(used In) Ilnanclng activitlo$
174888)
Change In ¢ash and cash oquFvalents In the year
Cash and ca9h equlvalents at thè beginning of the year
(31.543)
544,979
401,419
143,560
cash and cash •qulv*l•nts at tho end of tho year
513N36
544,979
The notes on poges 15 to 31 fomi part ofthese financial stateThnts
Pago 14

KITE COLLEGE
Notes to th• Flnan¢lal Stst•monts
Forth• Yo•r Ended 31 August 2024
Genor•l Inforniatlon
KITE College Is a CharitslAe InLX)rporatsd Organisation, regS8t8red in England and Wales. The registered
office Is KITE College. Unil 1 Bonham Drive. Eurolink Business Park, si￿ngboume, KenL ME10 3RY.
The prindpal aclivmy of the Charity Is to provkle independent speciafist educati￿ and training to ￿Ung
peoplo.
A¢¢ountlng poliel•s
2.1 Ba818 of propar•llon olflnaneill stat•m•Thts
The flnancl81 ststsments have been prepared in accordanca with the Charflles SORP IFRS 102) -
Accounllng and Reporting by Charities.. Slalemenl of Recommended Pracllce applicable lo charlt*s
preparfng their aw)unls In accordan¢e wlth the Flnandal Roporling Standard applIcab￿ In Ihe UK
and Republic of Iroland IFRS 102118ffo¢ts'vo 1 January 2019). tho F5nanclal R8w)thg Standard
appficable in the UK and Republic of Ireland {FRS 1021 and th8 Charitios Act 2011.
The finarKial statements hove been prepar8d to give a Irue and falrf vlew and have departed frDm
th8 Charities (Accounts arKI Rgportsl Regulations 2008 only to the extént required lo pmvide a 'ln
and fail view. This departure has involved folbwng the Charib'8s SORP IFRS 102} published in
October 2019 ralher than the Accounting and Raporting by Ch8rilies'. Statgmfrnt of Recommended
Practke affective from 1 ￿rI1 2005 which has since been withdrawn.
KrrE College meets the definiti'on of a publlc benefft entity under FRS 102. Assets and liabilities are
initially recognlsed at historkal cost or transactw valug unle88 Othorwi86 Stated in the relevant
accounting policy.
22 Golng concem
The Tru51ge$ assess vthether Ihg use of golng concern is appropriate i.e. whether there are any
material uncartainties related to events or condllions whith may cast signlflcant doubt on the abilty
of the Charity lo continue as a going ¢oncem. The Trustees make thls assessment in respect of a
pèriod of al least one year from the date of authorisation for issue of the financial $tstements and
have conduded th8t the Charity has 8dequate resources to ￿ntinUe in operational existence for the
foreseeable fijthre and there are no matèrial uncertainties about the Charitys abilty to continue as a
g￿ng concem, thus they conllnue lo adopt the going concern basis of accounting in preparlng
nanclal stat8m8nts.
23 Income
All income Is recc4Jnised onco the Chartty ha8 entitloment lo the in(a)me, It Is wobable that the
inc0rn9 will be ￿1ved and the anw)unt of in￿rne re¢eiVa￿e can be mea$ur&J rgliabty.
Grants are included In Ihe Statement of Financial ActNiti&s on a r8ceivable basis. The balance of
income rec8ived for $peafi¢ purposes but not expended during Ihe period is shown in the relevant
funds on the Bolance Sheet. Wher6 income is received in advance of entitlement of r￿elPt, hs
r8¢cvJnIl￿n is deferred and included in creditorn as deferred income. Wh8re entitlemont Oc(￿r8
before income is recelved. the incomg is accrue(l.
Other In￿Me h recogntsod In th& perftxl In which li is reGelvabl8 and to Ihe extent th8 go(xJs have
been provlded or on completion of tha servlc8.
P8ge 15

KttE COLLEGE
Not•s to th• Flnancial Stat•rnonts
For the Y•ar Ended 31 Augusl 2024
Accountlng pollcl•$ (contlnuod)
2.4 Expendlture
Expendi￿re Is rec&Jnised once there is a legal or ￿nStructiVe obligation to transfer economic
benefft to 8 third paty. il is probabK8 that a transfer of economic benefits will be required in
settlement arHI the amount of the obligation Gan be measured rellably. Expènthlure is classthed by
activity. The costs of oach activty are made up of thg total of dirèct Wsts and shared costs.
Indudlng support costs invdved in undertaking each acthvity. Direct (￿St8 athfjbutsble to 8 slngle
activlty are allocated dlrectFy to that activty. Shared costs which contributs to more than one actmty
and supp)rt costs which are not attribLrtable to a slngle activity ar8 apportSoned b8twegn those
activltla$ on a basls consistent ¥￿th the usa of rasources. Central 8t8ff costs are allo¢ated on the
basis of tlme spenL and depr8claUon charges alloGated on the poruon of the asseys use.
Expendllure on tharitable activities 15 incurred on directly undertaking the actmlles whlch further the
Charitys objectives, as well Is any associate(i support C05ts.
All expendI￿re Is indusive of irrecoverable VAT.
2.5 Governm•nt grants
Gov6mm6nt grants rela￿￿9 to tanglble fixed assets ars treated as d8ferred income and released to
the Statement of Flnanaal Advile$ over the expected useful Ilves of the assets ¢oneemed. othgr
grants arg credlted to tha Statomgnt of Financlal Actmtles as the rekited expenditure Is Incurred.
2A Taxatlon
The Ch8rity is c(￿ldered to pas3 the tests set out in Paragraph 1 Schedule 6 of the Finance Art
2010 and therefore il meets the dèfinition of a charitabL* company for UK ￿)￿r)ratiOn tax purposes.
Accordingly. tre Charity is potentially exempt from taxallon in respect of income or capttal gan$
r￿1Ved wthin ¢atsgories wvered by Chapter 3 Part 11 of the Corporotion Tax Act 2010 or Section
256 of the Taxation of Charg8abla Gains Act 1992, to the extgnt that such income or golns are
applied exdusively to charitable purposes.
17 Tanglbl• fixed assets and d•preclatlon
Tangible T￿ed as$gts (#)sting £500 or more are capltsllsed and recy)gnbgd vknen future ac￿noMIC
benefits are FKobable and the cost or valug of the asset can be measure(I rellably.
Taroible fixed assets are inilialty recognised at cost. After recognKlon, uThJer ￿ cost model.
langible fixed assets are measured at C051 less accumulated depreciation and any accumulated
impairmènt loss85. Al costs incurred to bring a tsngibl8 fixe11 asset into its inteThttod workin9
condthon should be indudad in the mea8urement of Gosl.
Depreoalion is chargad 80 a8 to allocate the cost of tsngible Ilxed assets I￿$ thelr resldual value
over their estimalgd useful lives. using the stralghl-line method.
Depwiatb)n Is provlded ffi the fc4lowng bases:
Improvements lo feasehol
property
Workshop equipment
slraighl lina over 2 years
Fkxtures. Fittings and Equlpment- slraighl line ovor 4 years
straight Ilne over 10 years
2.8 Dob¢orn
Trade and olher debtors are recognised 01 the Settlement amount after any Irade discount offered.
Prepayments are valued at tha amount prepaid net of any trade discounts due.
Pay 16

KrrE COLLEGE
Notes to th• Flnan¢lal Slat•m•nts
For th• Yoar Endod 31 AUW 2024
¢ountlng policl•s {contlnugdl
2.9 Cash •t bank and In hand
Cash at bank 8nd in hand Snclude$ cash and short-tem highty liquid inv8Stmgnts wth a short
maturity of three months or less from the date of a￿ulsi￿on or openlng of the deposit or similar
a¢￿unt.
2.10 Llablllll•s and provisions
LIabIl￿ ar6 re￿niSed whan th¢re Is an obllgallon at thè Balan￿ Sheèt date a$ a resuh of a past
gvenl, It Is probable that a transfgr of 8conomlc bènefft wtll be requlred in settlwnent. and tho
amount of the $8tt18ment can be estlmaled reliab￿.
Liabilities are reo)gnlsed at the amcmjnt that thg Charity anli¢ipates it ￿11 pay lo settle the debt or the
amount it has received as advanced payments for the goods or sgrvices it must provkle.
Provisions arg m&%urad at the best estlmate of the amounts requSr&J to selue the obligation. w￿r8
the effect of the time value of money Is material. the provision Is based on the present value of those
amounts, discounted al the pre-tax discount rate that reflects the risks specific to thé liability. The
unvAnding of the discount is recognL8ed in the Statam8nt of Financial Activbtles as a finonoe cost.
2.11 Flnan¢lal Instrumonts
The Chadty only ho$ financial assets and financlal liabiliti9s of a kjnd thal qual￿ as ba3ic flnandal
instruments. Basic financial instruments are initially rects3nised at transaG*itin value and
subsequenuy measured at their settlement valug ￿ the ex¢ePt￿n of bank bans which are
8ubsequenUy measured at amortlsed cost uslng the effoctive interest methcd.
2.12 Rodundancy and T•rnilnatlon Payrn•nts
Redundancy and termin8t6on costs ar8 rècognlsed as an expense in the Slatoment of Finan¢ial
Actwities and a Ikqbilily on the Ba￿n￿ Sheet immediatety at the point the College Is demonstrably
commltted lo either terminats the employmènt of an employee or group of 8mployees before normal
rolirement date. or prowde 18milnation benefits as a r8suIt of an offer made In order to encourage
voluntary redundan¢y. The College Is considered to be deM￿strablY commiited only when It has
detallod formal plen forth8 temiination and is Wthout reallstic possiblllty of wthdrawal from the plan.
2.13 Pensions
The Charity operates a defined ￿nfjfit pension schemo by the Lo(xl Government Pension SGheme
I'LGPS.).
The LGPS is a fvnded multkomployer scheme and the assets are held $6parately from those of the
Charity in separat8 trustso administered funds. Pansk)n schème assets are measured al fair value
and liabilities are measured on an actuarial basls using the projected unit Gredil me￿d and
discounted at a ral8 equlvalent to tha current rate of retum on a high qualty corporate bond of
equlvalenl term and current to the fiabilitKgs. The acluarial valualons are obtained at1&8St knennially
and are updatgd al each Balance Sheet date. The amounts charged to operating surplus ar8 th8
Jrrent servic8s costs and the costs of scheme introductlons, beneffil changes, setmemenls and
rtsllmenls. they are includ8d as part of staff costs as incuffod. Net interest on the net defined
b8nefit liabilitylasset 18 al￿ recognised in the Statement of FinanGial Actlwties and comprises the
Interest Gost on the éefined benefit obllgatlon ènd interest ineome on th? scheme assets, Calculated
by mulbplylng the fair v01ue of the scheme assets at the beglnning of the period by th8 rate usfjil to
discount the benefit obliqallons. The difference be￿eTh the inlere$l income on the scheme assets
and the a¢tual relum on tho scheme assets is rpcognised in other recc9nl8ed gains and losses.
Actuarfal gains and1088e8 are recc¥Jnis8d immediatety in other recognisod gains and losses.
Pago 17

KrrE COLLEGE
Notes to th• Flnanclal Statements
For the Y•ar Endod 31 August 2024
Accountlng pollcl•$ (continuod)
2.14 AgenGy arrangements
The college acts as an agent in distrilxjting 1&19 bursary funds from ESFA. Pawnents roceived
from ESFA and subsequent disbursements to Students are excluded from Iha stalemenl of fin8nclal
acuvities os the cOl￿e do&8 not have contrd over the charilablo application of the fiJnd8. The
college can use up lo 5% of the allocation towards its own administrati￿ costs and this is
rawJn188d in the stslement of financlal 8cllvibes. the fvnds received and paid, and any balonc9S
held are disclosgd in note 28.
2.15 Fund accountlng
General funds are unrestri(knd funds which are availabK9 for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and whiGh have not been designated for olher
pury)ose$.
Designated funds Comprise unrestrtcled funds that havg been Set aside by the Trustse$ for
partlcular purposes. The awn and use of each designated fund is Set out in the notes to the financk41
statsments.
Restrlcted funds are funds whith arè to ba v$8d Sn ac￿rdanCe wth speclfic restrictions Imposed by
donor8 or whlch have been raised by the Charfty for particular purposes. The c051s of raI￿ry and
adminlst8dng such funds are charyed against the spettffic fijnd. Tho aim usè of each r8strictsd
fvnd is set out in the notes to the ffinanclal ststsments.
Pag• 18

KITE COLLEGE
Not•$ lo th• Financlal Statsm•nts
For the Year End•d 31 August 2024
Income from donat1¢￿$ and1ogacle$
RestrlGted
fund8
2024
Totsl
fvnds
2024
rotsl
funds
2023
Gr8nts
2.401
1401
5,500
Tol812023
5,500
5,500
Incomo from ¢harltable actlvltl•$
As restoted
Tofal
funds
2023
Unrgstrlctsd
funds
2024
Total
fvnds
2024
Educational Opgralions
1,688,337
1,688,337
1,491,280
Total 2023 as rest8lod
1.491,280
1.491.280
Oth•r incoming r•sourGos
Unrtstrlct•d
fun(ts
2024
Total
funds
2024
Total
funds
2023
other Incoming resources
4.101
4.101
2.246
Totsl 2023
2,246
2,246
Page 19

KrrE COLLEGE
Not•8 to the Finandal Statements
For th• Year End•d 31 Augusl 2024
Analys1• of •xpenditure on charltable •¢tlvilies
Summary by fund typo
Unre$trlcled R8strict•d
funfls
funds
2024
2024
Total
2024
Tot81
2023
Edu¢ational Operations
1,892,852
2,401
1,695,253
1.092,962
Totsl 2023
1,092,962
1,092,962
Analysis of exp•ndllure by •cllvltlos
Actlviti•s
undertaken
dlroct
2024
Support
Totsl
funds
Totsl
funds
2023
2024
Educallonal Operaltons
1,244,819
450,434
1,695.253
1,092.962
Tol812023
642, 190
450,772
1,092,962
AnalyJl$ of dlro¢t ¢osts
Edu¢atlon•l
Oper•tlon$
2024
Total
funds
2024
Total
fvnds
2023
Staff w81s
Curriwlum resources
Leamer reglslratson and exom fees
Brought in professional servic*8
Agency costs
1,108.568
28,539
10,214
67.605
29.893
1.108.568
28,539
10,214
67,605
29.893
591,451
17,680
11,190
21,869
1,244,819
1.244.819
642. 190
Totsl 2023
642,190
642. 190
Page 20

KITE COLLEGE
Notes to th• Flnanclal Statements
For the Y￿r End￿ 31 August 2024
Anawsls olexpondlture by activrti8s (￿ntInued)
Analysis of 8UPPOrt costs
Educational
Operatl4>ns
2024
Totsl
funds
2024
Tolal
funds
2023
Staff Costs
Deprecialton
staff development arKI trainiig
ICT resources
Admln 8UPF4i8s
Bullding maintenance and repavs
Cleaning
Water and $gwer8ge
Energy
Insurances
Cataring supplies
Equipment leasing
Agency costs
165,480
35,800
30,577
43.312
8.060
46,136
13,288
1,578
38,261
1,9S3
13.188
4.473
4.725
18,823
24,780
165,480
35,800
30.5TI
43.312
8.060
46.136
13288
1.sr8
38,261
1,953
13,188
4A73
4725
18,823
24780
309,207
31,062
5.689
37.117
18,662
2,197
1,566
9,858
3,093
5.379
1,333
Z619
22.200
Govemance c081s
450,434
450,434
450,772
Tolal 2023
450.7T2
450.772
Audltorn. r•muneratlon
2024
2023
F8e8 payable to the Charfws 8udittir for Iho audit of the Charitrfs an￿al
accounts
21.600
16,200
Fees payable to the Charftys auditors asso(aales in respect of..
All non4udll 8er4kes not Induded abov&
3,180
Pag9 21

KITE COLLEGE
Notos to th• Flnancial Ststsm•nts
For th• Y•ar End•d 31 August 2024
staff costs
2024
2023
Wag98 and salatle8
Soual securty costs
Contribution to dgfined ￿ntribUtIOn penslon schemes
Op8rating costs of defined benefit penslon schemes
999,855
92,579
1,614
180,000
661,399
63,610
(6.351)
782.000
1274,048
900,658
Includod in staff restructuring costs arn non4latutorylnon<iMtraGh*l 8ever8nce paynents totalling
£12,72012023- £Nil)-
The average number of persons empknyed by the Charity during the yE8r was as follows:
2023
No.
Teaching Staff
Leadership and Flnance
Support
14
12
10
31
23
The number of ompW8s whose employ99 ￿ne1}ts 1gxcludlrvJ employer pension costs) exce8d&J
£60.000 was:
2024
No.
2023
In the band £60.001- £70.C
In the band £70,001- £80,OCK)
Thg key managem&nl p8r8onnel ofth6 chaty comprise ofthe PrSndpal and 8uslness Manager. Totsl
amount of employee benefits {including employer pension contrltrmjtlons and Omploygr national In8uranc*
contdbutionsl receiv9d by key managemgnt pgrsonnel for thelr servicas to tha chority was £205,732
(2023- £146,482).
10. T￿￿140$. romunwallon and gxpgns
During the year. Trustses r￿eNed ary femuneration or othgr benefits (2023- £NIL).
During the year end&J 31 August 2024, expenses totalling £1,419 were reimbursed or pakl diro￿ty to 4
Trustses (2023 - £NIL). Thege expensas were inCu￿d in the course of carrySng out their duli88 as
trustee$ and r8late lo travel, accommodation. and other related c08ts.
Ptyo 22

KrrE COLLEGE
Noles to thg Flnanclal Statements
For th• Y•ar End•d 31 August 2024
11. Tanglbl• flxod assets
Long4erni
18as•hold
Flxtur•s,
property
Garay Flttlngs and
Imp'ments Equlpmont Equlpment
Total
Cost or valuation
At 1 September 2023
95.030
53,105
23,755
38.no
157.505
88,055
At 31 August 2024
148,135
23,753
73,070
245.560
D•pre￿atIon
At I Septèmber 2023
Charge for Ihg year
18,559
14,814
21.186
2.569
15A65
18,417
55,210
35.800
At 31 Augusl 2024
33.373
23.755
33.082
91.010
Not book valug
At 31 August 2024
114,762
39,788
154.550
At 31 August 2023
76,471
2.569
23,255
102.295
12. Debtor•
2024
2023
Due within on• y•ar
Trade debtors
Other d8btors
Prepayments and accrued Incom
1.812
10,213
17.416
17,420
12,025
Pege 23

KrrE COLLEGE
Not•$ to the Flnancial Statsm•nts
For thg Year Endgd 31 August 2024
13. Credltor3: Amounts lalllng dug wlthln one year
A$ restated
2023
2024
Trad8 credilorB
Other taxation and soaal se¢urity
Other creditors
A(￿ual5 and deferred irthme
45A98
22.650
8.446
18,277
6,686
94,672
128,908
206,602
128.081
As restated
2023
2024
Deferred inK•mg at 1 September 2023
Resource5 deferred dudng the year
Amounts re￿aSed from preMou$ perh)ds
67.074
89.832
(67,074)
67,074
DefvThod Incom at 31 August 2024
89,832
67.074
Oeferred in¢ome represents ESFA funding received in advance for the 24125 academlc year.
14. Fin•nclal In8trum•nts
2024
2023
Flnanclal ass•ts
Flnancial assets measured at fair value through Income and exp8nditur8
513N36
544,979
15. Prloryèar adjuslmonls
The prior year figur8s have been ￿$tated to refflect the correction of an error in the recognilion of ESFA
inco￿. The inwme wos reo)gnlsed In the prior ye8r vtsn. due to the unav8ilability ol the fundiry
schedule al that il should have been deferred into the current pwlod.
As a resuh of thi8 adjustmènt. ther8 is a decr&gs8 in reserves as al 31 August 2023. amounting to
£73,635.
A summary of the Impact on the p￿0T year is as follows..
Reductlon of Income
73.635
Increase in other credilor3
16.561}
Increase in deferred Income
167,073}
Pago 24

I￿rE COLLEGE
Notss lo the Financlal Stalomonts
For the Y*ar End•d 31 *4ryU$t 2024
16. 8tatem•nl of funds
Statsment of fvnd$- ¢urr•nt y•ar
As restatsd
Balan¢• at 1
S•ptsmber
2023
Balance at
GaiTrsl 31 August
(Lossfjs)
2024
Tr•nsf•rs
Inlout
Income Expendlturn
Unrg$trkted
funds
Deslgnated
funds
Designo18d
funds
102,083
102,083
G•n•ral fund*
Unrostrfcled
funds
531.218
1.698A38 (1,692.8521 1102,0831
(58,000)
37cn1
Total
Unrestrlcl•d
funds
531,218
1.698.438 11,692,852>
158,000)
478,804
Restrict•d
Restricted
Funds
{2.401)
Total of lunds
531.218
1,700.839 (1,695,2531
(58.000)
47a804
The speafic purposes for which the funds are to be aFwlied are as follo4w.
The d8signatsd fund represents amounts set aside in relation to potential unpaid rental fees wth Kent
County Coun￿1 followng ongoing negotiation5 regafdlng tha property in usg.
Unre8tMcted fvnds ar8 applled to the general work of the Charityto support all tharita￿e obj8Ctlves.
Page 25

KrrE COLLEGE
Notés to the Fln*ncial Ststom•nts
For th• Ygar Endod 31 Augu$t 2024
16. SL*tem8nt of funds (continuod)
Statement of funds- prior yoar
As restated
Balance 8t
31 Au9USt
2023
Balance al
1 Seplomber As r8St8t8d
2022
Income Expenditu
G8insl
{Loss8s)
Unrnstrlcted funds
Unrestrlcted funds
Pension reserve
110, 154
(28,OOOJ
1,502.026 (1.080.962)
112,000)
531,218
40,000
82154
1.502.026 (1,092.962)
40,000
531,218
17. Summary of funds
Summary of funds- ¢urr•nt y•ar
As restst•d
Balance al 1
S•pt•mbor
2023
Balon￿ at
G•ln$l 31 August
(Lomos)
2024
TranBfern
Inloul
In¢omg Exyndltur•
De8tgnated
funds
Gener81 funds
Restrfcted
funds
102,083
1.698.438 11.692,852) (102,0831
102.083
376,721
531,218
{58.QOO
2.401
(2.401>
531.218
1.700,839
(1.695.253)
(58.000)
478,804
Pag6 26

KrrE COLLEGE
N¢)tes to thè Fin•nel•l Slatements
For tho Yw End•d 31 August 2024
17. Summary of funds {¢ontlnued)
Summary of funds - prfor year
Balance at
1 Septembar As restated
2022
InGomg Expendlture
B8kn
31 Atwusl
2023
Galn
fLossosJ
General fiJnd8
82,154
1.502.026 (1,092,962J
40,000
531,218
18. Analpl$ of n•t assots bgtwoen funds
Analysls of n•t as$•ts betw•￿ fundg - curf•nt p8rlad
Unr•strld•d
funds
2024
Total
funds
2024
TaThJib19 fixed assets
Cuffent assets
Creditors due wrthin one year
154,550
1¥550
530,856
530.856
(206,6021 (206.604
Total
478.804
478.804
Anatysls of n•t as69ts bgtwegn funds . prlor p¢rlod
As Reslatgd As Resl8t8d
un￿stricted
Total
lunds
2023
2023
Tangibl& fixed a88ets
Curront assets
Creditots due within one y
102,295
102,295
557.004
557,004
{128,081) (128,081J
Total
531,218
531.218
Page 27

KrrE COLLEGE
Notes to th• Flnan¢lal Statgments
For the Year End•d 31 August 2024
19. Reconciliatlon of not mov•ment In fundi lo n¢t Cash fk*w from oper•tihg activlllgs
As resfated
2023
2024
Net income for tho p8riod (as per Ststemenl of Flnancial Athvibos)
409,064
AdJ￿tments for:
Depr8ciation ¢hargos
Decraasellincroase} in dèbtors
Increas? in Creditors
Pgnsion LGPS
35.81
15.395)
78,521
(58,000)
31,062
32.110
1T,276
12.000
Net cash provid•d by operating acllvttl••
56.512
501.512
20. Analysis of cash and ¢ash equlval•nts
2024
2023
Cash in hand
513N36
544,979
Total cash and c•$h •quival•nts
513,436
544,979
21. Analy•l$ of ¢hanges In ntl debt
Septsmber
At31
2023 Ca¥h flows August 2024
Cash at bank and In hand
$44.979
(31.543)
513,436
544.979
(31,543)
513.436
22. Contlngent Ilabilili•s
Kit8 Colegè h•$ enter&J Inlo a l&ase agreement with Kent County Council, under which rental payments
are due. The colknga is currenty in dispute with Kent County Counal over remedlal works whith were due
to take p￿ce prior lo occupation bul are still ￿tstandIng. It ￿ the belief of the trustees thal no rentsl
amounts will be due until after the remedial works hav& taken place. If in the rare circumstsn¢e that KCC
charge b8ckd8ted rent at thls point, the potential liability to th8 o)Ilege will be £102,083.
Page 28

KITE COLLEGE
Notas lo tho Flnanclal Ststem•nts
For the Year Ended 31 Aiigust 2024
23. Pension cornmllmonts
The Charity operates 8 defined beneffil pension scheme.
The ChariW$ empk)ye8s belong to Local Government Pension Scheme (LGPS), ￿lch is managed by
Kent County Counc51.
The latest ac￿arIal valairtion of th& LGPS related to the period ended 31 March 2023.
The LGPS Is a funded defined benefft penslon scheme, wtth the 8s5ets hgld in separate tNstee-
administered funds. The total contribution made for Ihe year ended 31 August 2024 was £289.00012023
£212,000). of whkh employerfs contributions totslled £233.000 12023 - £167,£￿0) and emF4oyee'$
ntributions lotslw £56,00012023 - £45,000). The agreed contribution rate8 for futLFfg yoars aro 26.8
per cent for empty9￿ and variabte per cent for employee8.
Principal ¥tuarial assumptions at the Balance Sheet date {exK*essed as Y￿59h18d averagesl:
Al 31 At31 August
August 2024
2023
D￿Unt rate
Fulure salary increoses
Fulurp pe￿lOn increase8
5.15
3A0
2.80
5.25
The currant mortalty assumpti￿$ include sufflclent albwance for fvlure improvements in mortalty rates.
The assumetl Ilfe expectations on r&tir8mgnt age 65 are:
At 31 At 31 August
August 2024
2023
Y•ars
Mortality rate5 lin years)
- for 8 male aged 65 now
- at 65 for a male aged 45 now
- for a f8malo age(165 now
- al 65 for a female aged 45 now
20.7
22.0
23.3
24.7
2&2
24.6
The Charity's share of the as8ets in the $¢heme was:
At 31 At31 A(yl
August 2024
2023
Equities
Gims
Other b)nds
Propgrty
Cash and other Ilqukl 8S$0ts
Absoluie retum
Infraslruclura
564,000
406,000
143.1)00
91.1)00
24.000
50.000
88.000
46.000
24,000
Total falr v•lw of as8et6
987.000
639.000
Pagg 29

KITE COLLEGE
Notes to the Fln•n¢lal Statements
For thg Y•ar Ended 31 August 2024
23. P•n8lon ¢ommltm•nts {¢ontlnu•d)
The actual return on scheme assets was £60.000 (2023- £￿,000).
The amounts rets)gnised in the Slatsment of Financial Activities are as foll¢)ws."
2024
2023
Current s8rvic8 cost
Int8r8St income
Interest cost
180.(KIO
141.(KlOI
35.lJOO
f82,000
(23,OOOJ
Total amount rncognls•d in th• Ststomont of Flnanclal Activitl•s
1741100
179,000
M¢)vem8nts in the present value of the defined b8nefit obligat*Jn were as follows:
2024
2023
Openlng d8fined benefft obllgatlon
Current Se￿Ce cost
Interest cost
Contributions by scheme participants
Actuarial gains
536.000
180.000
30,000
56,000
q4,OOQI
460,000
182,000
20.000
45.000
(171,000)
Closlng d•fin•d ben•llt gbllgatlon
798.000
536,000
Movements In fair value oftho Ch8ritls sh8re of scheme assets as follows:
2024
2023
Opening fair value of scheme assets
Expected retum on assets
Acluarial gainsl(Ios5es>
Contllbutions by employer
Contributions by scheme participants
639.000
41.000
19.000
232,000
56,000
432,000
23.000
(28.000)
167,000
45,000
Closing f•ir valu• of schwn• ass•ts
987.000
639,000
Tho Charlty has an unrecognlsgd surplus of £189,00012023 - £103,000) In rgspe¢t of 11$ deflnod bengfit
Pgnsion scheme a$ h does not expe￿ to recover the plan surplus either through re<luc8d contributions In
the future or through refunds from tho plan.
Pag8 30

I￿rE COLLEGE
Notss to th• Finan¢lal Ststements
For the Year Endgd 31 August 2024
24. Op•ratlng l•a$• commilm•nts
At 31 August 2024 the Charity had commrtments to make fuium minimum l&as6 payments under non-
cancallable op6rating18ases as follows..
2024
2023
Not later than 1 ye8r
Later than l year and not later than 5 years
12,817
11,211
195
24,028
195
The followlng lease payments have been rocognised as an expense in the Statement of Financial
Adivities-
2024
2023
Op8rating1gase rentals
2.230
T80
Related party tranSa￿On$
During Ihe year. the college received a grant lotalling £2,40012023'. £5.500) from Red Hlll Trust. a charlty
which Bob Law. the Chalr of the College, is also a Trustee. Payments were made to The Sock41,
Emotional and BehaviourBI Difficutties Association ISEBDA), a thaTtty which Bob Law is a Trusteg of.
lotsllirwJ £1.37412023'. £1,816). Payments were also made to Challenger Troop CIC, an enlty in whKh
Bob Law Is a non•xecutive diroctcf, tolalling £3.60012023'. £Nil}. At the Balance Sheot dat8, no amounts
were ow&J or owlng In rola￿on to these Iran8aGtions.
During the prior ￿ar, the college made repayments of a loon from S Badder, the pr8Mous Principal,
totalling £74.888. The lo￿ was repaid with interest based on th8 Bank of England's rate of 0.1% totslllng
£75. At the year ended 31 August 2023. the outstandlng balance due to S Badder was £Nil. No such
transacticms toc* place in the current year.
26. Agèncy Arrang•m•nt
The college distributes 16-19 bursary funds lo students as an agent for ESFA. In the accounting perlod
ending 31 August 2024 collegè received £4,340 and dislxjrsed £1.480 from frJnd. induding £217
for admlnistralion of the fijnd. An amount of £9,421 18 includad In olhBr cr8dltors relatin9 to undistribut8d
fvnds that Is repayable to ESFA. coMparat￿e for the accountlng pwbd endrwJ 31 August 2023 ar8
£6,561 received, £Nil disbursod and £6,561 indudèd in other credllors.
Page 31