## **Bodens College Ltd** 

**Charity No. 1204917** 

**Company No. 14936070** 

**Trustees' Report and Unaudited Accounts** 

**30 June 2024** 



**Bodens College Ltd Contents** 

||Pages|
|---|---|
|Trustees' Annual Report|2 to 10|
|Independent Examiner's Report|11|
|Statement of Financial Activities|12|
|Summary Income and Expenditure Account|13|
|Balance Sheet|14|
|Statement of Cash flows|15|
|Notes to the Accounts|16 to 21|
|Detailed Statement of Financial Activities|22 to 23|



Page 1 



**Bodens College Ltd Trustees Annual Report** 

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 30 June 2024. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Company No. 14936070** 

## **Charity No. 1204917** 

## **Registered Office** 

Unit 5-7, Blenheim Court 62 Brewery Road Islington N7 9NY 

## **Directors and Trustees** 

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: 

Andrew Hume Katherine McCutcheon Maxine Williams Sacha Khari 


## **Accountants** 

Luna Muncaster Ltd 40 Vera Avenue Grange Park London N21 1RG 

## **OBJECTIVES AND ACTIVITIES** 

To provide a head start in a competitive industry through incredible sixth form and foundation training for free, at our brand-new creative home right in the heart of Islington. 

Our goal is to provide fully funded performing arts training for young people aged 16-18 years. Our fully accredited courses, led by passionate and experienced tutors, enable students to develop their skills through training and performances, gain knowledge and understanding of the arts, and progress into higher education. Within our Ofsted Inspection, there is evidence that “learners are prepared well for creative industries and other areas of study.” 

Our articles of association reflect our aims as an organisation. The Charity's objects are restricted specifically, in each case only for the public benefit to:- 

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**Bodens College Ltd Trustees Annual Report** 

(a) To advance education, particularly that of young people, in Greater London and the surrounding areas, through quality performing and creative arts training, and the provision of professional facilities and resources. 

(b) To advance the arts, particularly for a diverse demographic of young people in Greater London and the surrounding areas, by providing accessibility to affordable training. 

## **PUBLIC BENEFIT** 

As an organisation, we aim: 

• To provide opportunities for young people to achieve academically, whilst developing transferrable skills; for personal progression, to advance into higher education, or gain employment within the creative industries. 

• To promote inclusivity and diversity within the industry, through the provision of performing and creative arts education, by increasing accessibility to affordable training for young people, that supports personal, social, artistic, and educational development. 

• To enrich the lives of young people by using the arts as a transformative tool, supporting their transition to adulthood, providing opportunities for safe manageable risk and critical thinking, developing empathy, perspective and understanding. 

• To deliver accessible and impactful outreach programmes for young people, incorporating subject matter of contemporary relevance and/or historical importance, that promote self-expression, providing inspirational teaching, encouraging young people to achieve their potential and perform as themselves in the world, using opportunities to collaborate, create and evaluate. 

• To provide young people with holistic arts training that incorporates developmental performance experiences, nurturing personal growth, enhancing mental and physical well-being, whilst advancing the arts. 

## **OUR STRATEGY** 

## **Our Vision** 

Our vision is to be recognised as an outstanding provider and to ensure our graduates are fully prepared for future pathways, while empowered to lead purposeful lives with integrity, and to place the well-being and development of our young people, staff, and the local community at the heart of the organisation. 

By advancing education within the arts, Bodens College aims to increase progression to drama school, university, and employment. Our focus on the development of transferrable skills and holistic training, further enhances the possibility of success by encouraging versatility, resourcefulness, and professionalism. 

Our hope is to build a community, programme and support network that enables young people to establish a platform for personal growth, having built strong foundations within an inclusive environment. We aim for our alumni to lead happy, healthy, enriched lives, enabling them to achieve their potential. 

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**Bodens College Ltd Trustees Annual Report** 

## **Our Values** 

## _Optimisation_ 

To enhance the viability of our learners, Bodens College Limited provides over twenty-five guided learning hours per week, more than many of its competitors. The course is structured to enhance students’ skills in a variety of areas, offering training in acting for stage and screen, exploring classical and contemporary texts, experimenting with a variety of vocal and movement styles, in preparation for fully polished performances, exceeding the demands set by the examination boards to ensure these opportunities prepare students for work in the creative industry. Each class is delivered by a specialist, many of whom also teach within universities and drama schools or work professionally within the industry themselves. Throughout the course, learners are encouraged to complete coursework tasks, underpinning their practical exploration with theoretical practices, study historical context, conduct textual analysis and research to enhance their ability to think critically and reflect on their progression, monitoring their strengths and areas for improvement. These activities support students’ practical studies and enable them to graduate with the highest possible grades. To support students’ progression, Bodens College Limited provides free access to additional resources, ranging from Office 365 and Zoom to support them academically, and the Digital Theatre and Drama Online libraries, which provide learners with scripts, material, and recorded performances from professional theatre companies like the RSC and National Theatre. 

## _Accessibility_ 

Through the provision of holistic opportunities, we tailor the programme to suit the needs of our learners, using applied theatre methods to encourage them to consider the world they live in. Not only do we want to provide learners with specialist training, but we are also committed to their continued personal development and aim to cultivate transferrable skills to aid future progression, in or out of the creative industry. Students on the course, also have opportunities to volunteer as teaching assistants, produce their own work, operate the lighting, sound, and filming equipment throughout live and recorded productions, marketing, and undertake administrative duties, enhancing their skillset, communication, and level of professionalism to increase their chances of employment moving forward. Learners at Bodens College Limited have an Individual Learning Plan, and regular one-to-one meetings to monitor development and to discuss mental and physical health and well-being. This is an important tool that encourages learners to set regular targets to aid progression and enables Bodens College Limited to adapt to the needs of our learners. 

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**Bodens College Ltd Trustees Annual Report** 

## _Community_ 

The encouragement of collaborative projects, utilisation of ensemble work and shared opportunities, enables Bodens College Limited to inspire its young people to work with integrity. We offer a support network, open to current students, graduates, and alumni, to assist outside of the educational framework. By promoting teamwork, providing volunteering possibilities and low-cost performances and workshops, we ensure students of diverse backgrounds work together successfully and gain invaluable experiences. As part of the Social Development Programme, learners are exposed to a range of topics from Black History Month, Anti-Radicalisation and British Values to Mental Health, Procrastination and Understanding Casting Types. These sessions include the sharing of informative resources, discussion, debates, and self-reflection. 

## **Our Mission Statement** 

Our mission is to transform the lives of young people through inspirational teaching, providing exceptional training in performing arts and access to higher education and career opportunities. 

## **ACHIEVEMENTS AND PERFORMANCE 2023/24** 

In line with our aims, we have consistently delivered impactful projects, successful training provision and accessible arts opportunities for young people throughout this year. Here we have outlined some of the positive work Bodens College Limited has accomplished through the successful application of our charitable objectives: 

## _Academic Attainment_ 

We achieved a 100% pass rate in all our level three vocational courses. Students worked towards either a Level Three Foundation Diploma, a Level Three Diploma, or a Level Three Extended Diploma, all accredited by Pearson with Acting or Musical Theatre pathways available. We also successfully delivered a Level Four Associate Diploma programme, accredited by Trinity College, with an external examiner stating that “the performance was of a very high standard.” Our retention, attendance and punctuality figures are all above 90%, demonstrating the positive impact our organisation is having on the development of young people. 

## _Progression Figures_ 

Of the students that graduated from Bodens College Limited, 100% successfully progressed; 57% advanced within Higher Education, of which 45.8% gained places at drama school, 38% progressed into employment, with 75% reapplying for degree courses in the next academic year, and 5% opted to upskill within Further Education to explore other areas of the industry. Amongst others, in September 2024, we had students training at LAMDA, RADA, Arts Educational, Guildhall School of Music and Drama, Royal Central School of Speech and Drama, Royal Welsh Conservatoire, Mountview and Bristol Old Vic, which are some of the most renowned drama schools in the United Kingdom. 

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**Bodens College Ltd Trustees Annual Report** 

## _Transformative tool_ 

As a result of regular devised projects, theatre trips and outreach programmes, students have developed an ability to think critically, engage with the world around them and develop key communication skills. Most recently, students created their own Theatre in Education projects, using the arts to inform target audiences about key topics, from protecting the planet and internet safety, to healthy relationships and growing up. Audience reviews were extremely positive, with both group and solo performances averaging at 4.8/5. Our Social Development Programme provides students with the opportunity to develop an understanding of societal matters. An Ofsted inspector identified that we, “work hard to ensure young learners flourish by putting in place a high-quality social and personal development tutorial programme. Staff cover topics such as substance misuse, gender and racial stereotypes, and the dangers of radicalisation and extremism.” Alongside class discussions, workshops and performances, these topics are also embedded within the learning throughout our classes, for example students studying notable female artists on International Women’s Day and exploring relevant texts throughout Men’s Mental Health Month, enabling us to use the arts to support the social development of our young people. 

## _Transferrable Skills_ 

Having opportunities to write their own material, being encouraged to conduct research, analyse contrasting texts and dissect stimulus has resulted in students being equipped with the fundamental skills of communication, organisation and specificity, which are all useful tools that support future progression. Our level three qualifications require students to complete a range of individual units throughout the year, which are assessed at regular intervals. Having multiple submissions enhances an ability to meet deadlines. Our level four qualification encourages students to work with autonomy, as students are assessed on individual merit through the performance of a practical programme and completion of an interview. Bodens College Limited encourages learners to monitor their own development through the use of reflective journals, highlighting strengths and areas for improvement and setting personal targets. These evaluative skills are not only an excellent resource for students to record learning but is also good practice for supporting mental health. Alongside our full-time training provision, students also had opportunities to develop technical skills, operating lighting, sound and media equipment in various venues throughout Greater London. For example, Brandon Franks, a first-year student, volunteered as part of the technical crew throughout our production of A Midsummer Night’s Dream at The Cockpit Theatre, and Emily Sangster, a third-year student, operated the sound equipment for a film production course, in which she supported students aged 12-16 throughout a holiday scheme. 

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**Bodens College Ltd Trustees Annual Report** 

## _Inclusivity and Diversity_ 

Through our subcontracting agreement with Big Creative Training, we have continued to provide fully funded training opportunities for young people aged 16-18 years. Our recent Ofsted report highlights that “leaders are highly committed to tackling social inequality and widening participation in the creative arts industry through education and training.” Through the provision of fully funded courses, we have removed the financial barrier, enabling young people to access free arts training, enhancing personal, social, artistic, and educational development. We have been able to provide additional financial support for young people from low-income families through a bursary scheme and have utilised the government Tuition Fund to enhance learner experience, by providing additional training opportunities, and free theatre trips throughout the year. Students watched Guys and Dolls at The Bridge Theatre, participating in a Q&A with the cast afterwards, Hamnet at the Garrick Theatre, to support their classical training, and Hadestown and the Lyric Theatre, amongst others, with tickets being funded by Bodens College Limited. We have continued to diversify our curriculum, providing students with the opportunity to study the contextual influences, methodologies and artistic impact of a range of practitioners from around the world; Freddie Henricks, Augusto Boal, Akram Khan and Uta Hagan, to name a few. 

## _Advancing the Arts_ 

Throughout the academic year, students had opportunities to perform in an eclectic mix of work; a contemporary play ‘The It’ by Vivienne Franzmann, covering themes of mental health, a physical theatre production inspired by Kae Tempest’s album, ‘Brand New Ancients,’ that explored societal expectations, ‘Trojan Women’ a Greek Classical Play, championing the strength of women, ‘Edges,’ a song-cycle exploring the theme of self-discovery, ‘9-to-5’ a musical theatre production that delves into gender inequality, Shakespeare’s ‘A Midsummer Night’s Dream’ discussing relationships and abuse of power, ‘Into the Woods’ by Stephen Sondheim, presenting themes of consequence and resilience, and ‘Circus of Stories,’ an immersive, promenade production inspired by true stories of Victorian freak shows, performed at the Waterloo Vaults. These productions encouraged learners to work creatively, enhanced versatility and gave learners a platform to develop artistically. 

## _Enhancing Mental and Physical Well-Being_ 

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## **Bodens College Ltd Trustees Annual Report** 

We take opportunities within our performing arts classes to incorporate exercises to support mental and physical wellbeing; the methods of practitioners like Chekhov and Alexander emulate mindful practice, physical and vocal work also have personal benefit. We regularly book guest teachers to run workshops to provide further focus on mental and physical well-being, for example, life-coach Sarah-Jane Duncan explored gut health, and the impact diet can have on mood, and Applause for Thought, a charity specialising in mental health support for creatives, delivered a workshop about managing stress. Alongside this, our learners each have an Individual Learning Plan, in which every student attends a meeting with a member of the Senior Management Team to discuss their personal progression on a termly basis. These check-in sessions provide an opportunity to monitor the health and wellbeing of our learners regularly. We have trained Mental Health First Aiders on-site, and twice a week, we have a member of the Student Services Team available for students to speak to directly, as well as access to a mentor or the ability to book sessions with the counsellor. Our Ofsted Report (Nov 2023) states that “Learners trust that staff will do everything they can to help them if they have any problems. Leaders promote positive physical and mental health effectively.” 

## _Self-Expression and Collaboration_ 

Transparency throughout class discussions, engagement with peer feedback and our collaborative approach to rehearsal processes, each inspire our young people to think critically and encourages a strong student voice. For example, within a production of Brand New Ancients, a group of students took ownership of one of the movement sequences, with others acting as dramaturgs providing insightful suggestions inspired by research to further enhance the performance. Our teaching faculty have opportunities to observe each other’s classes, share good practice and resources, and through the consistency of our lesson structure, learners gain first-hand experience of the positivity of collaboration. These displays of teamwork, the amalgamation of practitioners’ work and regular tutor observations led by a member of the Senior Management Team, all demonstrate the success of collaboration, which is acknowledged within student surveys. We have various means of celebrating student voice throughout the college, one being our involvement in the Jack Petchey programme, in which young people are recognised for their personal achievements. All winners are nominated by the students, with award winners selecting what the monetary donation is used for. Our learners are also encouraged to express themselves artistically when recognising key events. For example, to celebrate Black History Month, a group of students created ‘Culture Day,’ providing an opportunity to educate and celebrate the diversity within our college. Some students opted to deliver presentations, others expressed themselves through live performance, and others delivered workshops. Students brought in cultural foods and wore clothes that represented them. It was an incredibly successful day, and just one example of how our students work together and have a voice within the college. Our Ofsted report highlights that “learners… study in an energetic and orderly environment. They thrive in exceptionally welcoming settings, where they enjoy the freedom to be themselves. Staff are highly skilled at promoting equality of opportunity.” 

## **AIMS FOR 2024/25** 

As we continue to grow, we have reflected on the key areas in which we intend on targeting throughout the next year, enabling us to deliver our charitable objectives: 

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**Bodens College Ltd Trustees Annual Report** 

a. To advance education, particularly that of young people, in Greater London and the surrounding areas, through quality performing and creative arts training, and the provision of professional facilities and resources. 

b. To advance the arts, particularly for a diverse demographic of young people in Greater London and the surrounding areas, by providing accessibility to affordable training. 

Bodens College Limited provides training in the creative arts and intends on focusing on Audition Technique more specifically throughout the next year, to provide students with a platform in which to gain feedback from panellists and casting directors to enhance the learning experience, in preparation for drama school, university or industry auditions. This will also include expanding our industry links to broaden the perspectives young people receive. 

To improve the quality of the work we produce, we will create a Staff Training Programme to enhance consistency across the delivery. This will be provided without cost and will incorporate methods to encourage young people to apply learning more effectively. 

Throughout the next year, we intend on increasing the provision of workshops and young people’s exposure to industry professionals. Guest teachers are not only inspiring, but these opportunities will also enable young people to have the opportunity to study new training methods, contrasting choreography, increase repertoire choices for assessment and explore diverse material. 

We aim to increase the number of trips so that young people have more access to theatrical performances. These experiences can be motivational to young people hoping for a career within the industry. This will also expand students’ ability to reflect on performance quality, analyse material and gain an insight into current industry trends. 

We will invest in technical equipment to improve the facilities available in the studio theatre, which is used by all of the young people in attendance on our courses, as well as media equipment such as lighting and backdrops to support our screen acting provision. These resources will be user-friendly to ensure young people are able to operate the equipment when opportunities to upskill are available. 

To further improve the quality of work produced by our young people, we will create a more structured system so that feedback comments target specific learning aims more accurately. We anticipate that this specificity will provide more focus and improve learner development and therefore advance the quality of the artistic work produced. Students auditioning for a place at Bodens College Limited will also have access to personalised feedback, facilitating our ability to advance the artistic quality of young people outside of our organisation without any cost to them, increasing the public benefit. 

We will continue to recruit a diverse student cohort and teaching faculty, enabling us to promote the arts to a wide demographic of young people. We will investigate more marketing opportunities to support our enrolment drive. As a result, we will be in a position to be more selective with our repertoire choices, as this will lead to broader casting opportunities. 

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**Bodens College Ltd Trustees Annual Report** 

We will invest in resources that benefit young people, to remove the financial barriers placed upon them. This will include a more manageable application process for bursaries and also programmes that support mental and physical health and well-being. This, in turn, will provide young people with a more positive experience, having an ability to work creatively within the performing arts classes. 

## **FINANCIAL REVIEW** 

## **Financial position** 

Bodens College Ltd's financial position is solid, with total net assets available at 30 June 2024 of £38,869. This is all unrestricted usable cash reserves. As a newly incorporated charity, it has a charity bank account, which had a positive balance of £15,816 at the period end. It received funding in the period from the Charity Bank and from Bodens College of Performing Arts Ltd, the entity within which it previously operated. The majority of the loans were used to fund the capital work required top create brand new, high quality, premises. 

## **Financial performance** 

Total income for the period ended 30 June 2024 was £393,105 and expenditure was £354,236 (including depreciation of £19,121), generating a surplus in the college's first period of operation of £38,869. Of total income received, £388,559 came from Big Creative Training. 

## **Reserves policy and risk management** 

Bodens College Ltd has determined that its level of unrestricted usable cash reserves in the medium term should be three months of operational costs; in the medium term there will be less requirement for upfront capital investment. The Trustees and Executive team believe that reserves will increase going forwards, now that key investment is in place. Key risks are to be effectively managed and regularly discussed at Trustee meetings. 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). 

Signed on behalf of the board 

Katherine McCutcheon 

Trustee 

14 March 2025 


Page 10 



**Bodens College Ltd Independent Examiners Report** 

## **Independent Examiner's Report to the trustees of Bodens College Ltd** 

I report to the charity trustees on my examination of the financial statements of Bodens College Ltd for the period ended 30 June 2024. 

## **Responsibilities and basis of report** 

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. 

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## **Independent examiner's statement** 

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Associate Chartered Accountant (ICAEW), which is one of the listed bodies. 

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: 

- accounting records were not kept in accordance with section 386 of the 2006 Act ; or 

- the financial statements do not accord with those records; or 

- the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or 

- the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

Mrs Luna Muncaster Associate Chartered Accountant (ICAEW) Luna Muncaster Ltd 40 Vera Avenue Grange Park London 

N21 1RG 14 March 2025 

Page 11 



**Bodens College Ltd Statement of Financial Activities** 

## **for the period ended 30 June 2024** 

|**Notes**<br>**Income and endowments**<br>**from:**<br>Donations and legacies<br>3<br>Investments<br>4<br>Other<br>5<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>6<br>Other<br>7<br>**Total**<br>Net gains on investments<br>**Net income**<br>8<br>Transfers between funds<br>**Net income before other**<br>**gains/(losses)**<br>**Other gains and losses**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>391,959<br>60<br>1,086|**Total funds**<br>**2024**<br>**£**<br>391,959<br>60<br>1,086|
|---|---|---|
||393,105<br>113,222<br>241,014|393,105<br>113,222<br>241,014|
||354,236<br>-|354,236<br>-|
||38,869<br>-|38,869<br>-|
||38,869|38,869|
||38,869|38,869|
||38,869|38,869|



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**Bodens College Ltd Summary Income and Expenditure Account** 

## **for the period ended 30 June 2024** 

|Income<br>Interest and investment income<br>**Gross income for the period**<br>Expenditure<br>Depreciation and charges for<br>impairment of fixed assets<br>**Total expenditure for the period**<br>Net income before tax for the period<br>**Net income for the period**|**2024**<br>**£**<br>393,045<br>60|
|---|---|
||393,105|
||335,115<br>19,121|
||354,236|
||38,869|
||38,869|



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**Bodens College Ltd Balance Sheet** 

## **at 30 June 2024** 

|**at 30 June 2024**|||
|---|---|---|
|**Company No.**<br>**14936070**|**Notes**|**2024**|
|||**£**|
|**Fixed assets**|||
|Tangible assets|10|138,386|
|||138,386|
|**Current assets**|||
|Debtors|11|32,362|
|Cash at bank and in hand||15,816|
|||48,178|
|**Creditors:**Amount falling due within one year|12|(147,695)|
|**Net current liabilities**||(99,517)|
|**Total assets less current liabilities**||38,869|
|**Net assets excluding pension asset or liability**||38,869|
|**Total net assets**||38,869|
|**The funds of the charity**|||
|**Restricted funds**|13||
|**Unrestricted funds**|13||
|General funds||38,869|
|||38,869|
|**Reserves**|13||
|**Total funds**||38,869|



These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

For the period ended 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. 

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. 

Approved by the board on 14 March 2025 

And signed on its behalf by: 

Katherine McCutcheon 

Trustee 

14 March 2025 

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**Bodens College Ltd Statement of Cash flows for the period ended 30 June 2024** 

|**Cash flows from operating activities**<br>**Net income per Statement of Financial Activities**<br>**Adjustments for:**<br>Depreciation of property, plant and equipment<br>Dividends, interest and rents from investments<br>Increase in trade and other receivables<br>**Net cash provided by operating activities**<br>**Cash flows from investing activities**<br>Payments for property, plant and equipment<br>Dividends, interest and rents from investments<br>**Net cash used in investing activities**<br>**Cash flows from financing activities**<br>Loans taken out, net of repayments<br>**Net cash from financing activities**<br>**Net increase in cash and cash equivalents**<br>**Cash and cash equivalents at the beginning of the period**<br>**Cash and cash equivalents at the end of the period**<br>**Components of cash and cash equivalents**<br>Cash and bank balances|**2024**<br>**£**<br>38,869<br>19,121<br>(1,146)<br>(32,362)<br>24,482<br>(157,507)<br>1,146<br>(156,361)<br>147,695<br>147,695<br>15,816<br>-<br>15,816<br>15,816<br>15,816|**£**<br>-<br>-<br>-<br>-|
|---|---|---|
|||-<br>-<br>-|
|||-|
|||-|
|||-|
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**Bodens College Ltd Notes to the Accounts** 

## **for the period ended 30 June 2024** 

- 1 **Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## **Change in basis of accounting or to previous accounts** 

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. 

## **Fund accounting** 

- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. 

- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. 

- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. 

## **Income** 

- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. 

- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. 

- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. 

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets 

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**Bodens College Ltd Notes to the Accounts** 

## **Expenditure** 

- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. 

- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. 

- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. 

- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. 

- Other expenditure These are support costs not allocated to a particular activity. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Tangible fixed assets and depreciation** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: 

Plant and equipment 20%% straight line Fixture and fittings 10%% straight line 


## **Stocks** 

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. 

## **Trade and other debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. 

Page 17 



**Bodens College Ltd Notes to the Accounts** 

## **Trade and other creditors** 

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Pension costs** 

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. 

## **Receipt of donated goods, facilities and services** 

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 

## 2 **Company status** 

The company is a private company limited by guarantee and consequently does not have share capital. 

## 3 **Income from donations and legacies** 

|Big Creative Training grant<br>Jack Petchey grant<br>4<br>**Income from investments**<br>Bank interest<br>5<br>**Other income**<br>Prom income|**Unrestricted**<br>**£**<br>388,559<br>3,400<br>391,959<br>**Unrestricted**<br>**£**<br>60<br>60<br>**Unrestricted**<br>**£**<br>1,086<br>1,086|**Total**<br>**2024**<br>**£**<br>388,559<br>3,400|
|---|---|---|
|||391,959|
|||**Total**<br>**2024**<br>**£**<br>60|
|||60|
|||**Total**<br>**2024**<br>**£**<br>1,086|
|||1,086|



Page 18 



**Bodens College Ltd Notes to the Accounts** 

## 6 **Expenditure on raising funds** 

|_Costs of generating income_<br>Tutor costs<br>Show costs<br>7<br>**Other expenditure**<br>Advertising / promotional<br>Research costs<br>Student prom costs<br>Merchandise<br>Employee costs<br>Premises costs<br>Amortisation, depreciation,<br>impairment, profit/loss on<br>disposal of fixed assets<br>General administrative costs<br>Legal and professional costs<br>8<br>**Net income before transfers**<br>This is stated after charging:<br>Depreciation of owned fixed assets<br>9<br>**Staff costs**<br>Salaries and wages<br>Pension costs<br>No employee received emoluments in excess of £60,000.|**Unrestricted**<br>**£**<br>67,140<br>46,082<br>113,222<br>**Unrestricted**<br>**£**<br>453<br>2,852<br>1,350<br>609<br>81,278<br>58,350<br>19,121<br>27,044<br>49,957<br>241,014<br>**2024**<br>**£**<br>19,121<br>**2024**<br>77,173<br>1,166<br>78,339|**Total**<br>**2024**<br>**£**<br>67,140<br>46,082|
|---|---|---|
|||113,222|
|||**Total**<br>**2024**<br>**£**<br>453<br>2,852<br>1,350<br>609<br>81,278<br>58,350<br>19,121<br>27,044<br>49,957|
|||241,014|
||||



Page 19 



**Bodens College Ltd Notes to the Accounts** 

## 10 **Tangible fixed assets** 

|**Cost or revaluation**<br>Additions<br>At 30 June 2024<br>**Depreciation and**<br>**impairment**<br>Depreciation charge for the<br>year<br>At 30 June 2024<br>**Net book values**<br>At 30 June 2024<br>11 **Debtors**<br>Prepayments and accrued income<br>12 **Creditors:**<br>amounts falling due within one year<br>Bank loans and overdrafts<br>Other loans<br>13 **Movement in funds**<br>**Restricted funds:**<br>**Unrestricted funds:**<br>**General funds**<br>**Total funds**|**Plant and**<br>**equipment**<br>**£**<br>33,706<br>33,706<br>6,741<br>6,741<br>26,965<br>**2024**<br>**£**<br>32,362<br>32,362<br>**2024**<br>**£**<br>118,513<br>29,182<br>147,695<br>**Incoming**<br>**resources**<br>**(including**<br>**other**<br>**gains/losses**<br>**)**<br>**£**<br>393,105<br>393,105|**Fixture and**<br>**fittings**<br>**£**<br>123,801<br>123,801<br>12,380<br>12,380<br>111,421<br>**Resources**<br>**expended**<br>**£**<br>(354,236)<br>(354,236)|**Total**<br>**£**<br>157,507|
|---|---|---|---|
||||157,507|
||||19,121|
||||19,121|
||||138,386|
||||**At 30 June**<br>**2024**<br>**£**<br>38,869|
||||38,869|



Page 20 



## **Bodens College Ltd Notes to the Accounts** 

## 14 **Analysis of net assets between funds** 

|**Analysis of net assets between funds**||||
|---|---|---|---|
|Fixed assets<br>Net current assets|**Unrestricted**<br>**funds**<br>**£**<br>138,386<br>18,996<br>157,382|**Restricted**<br>**funds**<br>**£**<br>-<br>(118,513)<br>(118,513)|**Total**<br>**£**<br>138,386<br>(99,517)|
||||38,869|



## 15 **Reconciliation of net debt** 

|Cash and cash equivalents<br>Borrowings<br>Bank loans<br>Net debt|**Cash flows**<br>**£**|**At 30 June**<br>**2024**<br>**£**|
|---|---|---|
||15,816|15,816|
||15,816<br>(29,182)<br>(118,513)<br>(147,695)<br>(131,879)|15,816<br>(29,182)<br>(118,513)|
|||(147,695)|
|||(131,879)|



## 16 **Commitments** 

## _**Operating lease commitments**_ 

Annual commitments under non-cancellable operating leases are as follows: 

||**2024**|**2024**|
|---|---|---|
||**Land and**<br>**buildings**|**Other**|
||**£**|**£**|
|Operating leases with expiry date:|||
|**_Pension commitments_**|||
|||**2024**|
|||**£**|
|The pension cost charge to the company|||
|amounted to:||1,166|



## 17 **Related party disclosures** 

## _**Controlling party**_ 

The company is limited by guarantee and has no share capital; thus no single party controls the company. 

Page 21 



**Bodens College Ltd Detailed Statement of Financial Activities** 

## **for the period ended 30 June 2024** 

|**Income and endowments from:**<br>Donations and legacies<br>Big Creative Training grant<br>Jack Petchey grant<br>Investments<br>Bank interest<br>Other<br>Prom income<br>**Total income and endowments**<br>**Expenditure on:**<br>Costs of generating donations and<br>legacies<br>Tutor costs<br>Show costs<br>**Total of expenditure on raising**<br>**funds**<br>Other expenditure<br>Advertising / promotional<br>Research costs<br>Student prom costs<br>Merchandise<br>Employee costs<br>Salaries/wages<br>Pension costs<br>Staff training<br>Staff welfare<br>Premises costs<br>Rent<br>Rates<br>Light, heat and power<br>Premises cleaning<br>Premises insurances<br>Other premises costs|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>388,559<br>3,400<br>391,959<br>60<br>60<br>1,086<br>1,086<br>393,105<br>67,140<br>46,082<br>113,222<br>113,222<br>453<br>2,852<br>1,350<br>609<br>5,264<br>77,173<br>1,166<br>188<br>2,751<br>81,278<br>27,000<br>3,736<br>5,802<br>17,231<br>1,072<br>3,509|**Total funds**<br>**2024**<br>**£**<br>388,559<br>3,400|
|---|---|---|
|||391,959|
|||60|
|||60|
|||1,086|
|||1,086|
|||393,105<br>67,140<br>46,082|
|||113,222|
|||113,222<br>453<br>2,852<br>1,350<br>609|
|||5,264|
|||77,173<br>1,166<br>188<br>2,751|
|||81,278|
|||27,000<br>3,736<br>5,802<br>17,231<br>1,072<br>3,509|



Page 22 



**Bodens College Ltd Detailed Statement of Financial Activities** 

|General administrative costs,<br>including depreciation and<br>amortisation<br>Depreciation of Plant and<br>equipment<br>Depreciation of Fixture and<br>fittings<br>Bank charges<br>Equipment repairs and<br>maintenance<br>General insurances<br>Software, IT support and related<br>costs<br>Stationery and printing<br>Subscriptions<br>Sundry expenses<br>Telephone, fax and broadband<br>Legal and professional costs<br>Accountancy and bookkeeping<br>Legal, planning and associated<br>costs re lease of premises<br>**Total of expenditure of other costs**<br>**Total expenditure**<br>Net gains on investments<br>**Net income**<br>**Net income before other**<br>**gains/(losses)**<br>Other Gains<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|58,350<br>6,741<br>12,380<br>1,357<br>3,180<br>1,793<br>4,439<br>2,320<br>3,345<br>5,505<br>5,105<br>46,165<br>1,000<br>48,957<br>49,957<br>241,014<br>354,236<br>-<br>38,869<br>38,869<br>-<br>38,869<br>-<br>38,869|58,350|
|---|---|---|
|||6,741<br>12,380<br>1,357<br>3,180<br>1,793<br>4,439<br>2,320<br>3,345<br>5,505<br>5,105|
|||46,165|
|||1,000<br>48,957|
|||49,957|
||||
|||241,014|
|||354,236<br>-|
|||38,869|
|||38,869<br>-|
|||38,869|
|||-|
|||38,869|



Page 23