``` REGISTERED CHARITY NUMBER: 307856 ``` ## **`REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020 FOR`** ``` THE CORPORATION OF DOVER COLLEGE ``` ``` Spain Brothers & Co Chartered Accountants and Statutory Auditors Westgate House 87 St Dunstans Street Canterbury Kent CT2 8AE ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ||`Page`| |---|---| |`Report of the Trustees`|`1 to 16`| |`Report of the Independent Auditors`|`17 to 18`| |`Statement of Financial Activities`|`19`| |`Balance Sheet`|`20`| |`Cash Flow Statement`|`21`| |`Notes to the Cash Flow Statement`|`22`| |`Notes to the Financial Statements`|`23 to 42`| ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ``` TheTrusteespresenttheirreportandtheauditedfinancialstatementsofthecharityfortheyearended31st August 2020.TheTrusteeshaveadoptedtheprovisionsof theStatementof RecommendedPractice(SORP)"Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. ``` ``` Thefinancialstatementshavebeenpreparedinaccordancewiththeaccountingpoliciessetoutinnotesto the accountsandcomplywiththe charity'sgoverningdocument,the CharitiesAct 2011 andAccountingandReporting by Charities:Statementof RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 ``` ## **`Members of Council, Governors and Trustees`** |`M.R. Goodridge MBE`|`Chairman of Council and member ofCompliance and Risk`| |---|---| ||`Committee`| |`A. Baker`|`Member of Finance and General Purpose Committee`| |`T. Cathcart`|`Member of Finance and General Purpose Committee`| |`D. Gispan`|`Member of Finance and General Purpose Committee`| |`N. Harris`|`Chairman of Finance and General Purpose Committee`| ||`Scholarship and Prize Fund Trustee`| |`A.P.D. Lancaster (resigned 3 June 2020)`|`Member of Nominations Committee`| |`K. Rogers`|`Member of Finance and General Purpose Committee,`| ||`Nominations Committee`| |`D. Rolls`|`Member of Nominations Committee`| |`J.G. Ryeland`|`Chairman of Compliance and Risk Committee`| ||`Vice Chairman of Governors`| ||`Scholarship and Prize Fund Trustee`| |`Dr. C. Scholfield-Myers`|`Member of Compliance and Risk Committee`| |`D.C. Spencer`|`Member of Education Committee`| |`P.R. Tapsell`|`Member of Education Committee`| |`A. Walliker`|`Chairman of Education Committee`| |`I. Wright`|`Member of Compliance and Risk Committee`| ## **`Other Governors and Trustees`** |`P. Brown (Appointed on resignation from Council, 1 January 2020)`|`P. Brown (Appointed on resignation from Council, 1 January 2020)`| |---|---| |`R.D.S. Foxwell`|| |`J.P.W. Gatehouse`|`Chairman of the Dover College TrustChairman of the`| ||`Scholarship and Prize Fund`| |`R.L. Kagan`|| |`J.C.H.H. Sinclair`|| |`Bishop T. Willmott`|`Praeceptor and Chairman of Nominations Committee`| |**`Officers`**|| |`The Headmaster`|`G.E. Doodes (until 31 August 2020)`| ||`S.M. Fisher (from 1 September 2020)`| |`Bursar and Clerk to the Governors`|`S.J. Greig`| ## **`Address`** ``` Dover College Effingham Crescent DOVER, CT17 9RH ``` ``` -1- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`Bankers`** ``` National Westminster Bank plc 25 Market Square DOVER, CT16 1NQ ``` ## **`Auditors`** ``` Spain Brothers & Co Westgate House 87 St Dunstan's Street CANTERBURY CT2 8AE ``` ## **`Solicitors`** ``` Wilsons Solicitors LLP 4 Lincoln's Inn Fields LONDON WC2A 3AA ``` ## **`Veale-Wasbrough Vizard`** ``` Orchard Court Orchard Lane BRISTOL BS1 5WS ``` ## **`Insurance Brokers`** ``` Marsh Insurance Brokers Capital House 1-5 Perrymount Road HAYWARDS HEATH West Sussex RH16 3SY ``` ## **`Architects`** ``` Clague LLP 62 Burgate CANTERBURY Kent CT1 2BH ``` ## **`Investment Advisers`** ``` Rathbones 1 Curzon Street LONDON W1J 5FB ``` ``` -2- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`OUR ETHOS AND AIMS`** ``` DoverCollegewasfoundedin1871andissituatedonthehistoricsiteofthe12thCenturyPrioryofStMartinin the centreof Dover.It wasgranteda RoyalCharterbyHisMajesty,KingGeorgeV in1923anda furtherRoyalCharter in 1975 by Her Majesty, Queen ElizabethII which extended the originalCharterto includegirls. The Corporationof Dover College is a registered charity, number 307856. ``` ``` The objects of the College are set out in full in the Charter. In summary the main objects are: ``` ``` -TheconductofacollegeforBoysandGirlsinwhichtheymayreceiveasoundreligious,classical, mathematical, scientific and general education. ``` ``` -Tocreateandadministerandtoassistinthecreationandadministeringofscholarships,exhibitionsandprizes for the encouragement of study and learning. ``` ``` - To supportand subscribeto any charitableor publicobjectand any institution,societyor clubwhichmay be for the benefit of the College. ``` ``` ThePatronoftheCollegeistheLordWardenoftheCinquePorts.TheHeadmasterisamemberoftheSociety of Heads.The Collegeis a member of the BoardingSchoolsAssociation(BSA) andthe IndependentSchoolsCouncil (ISC). ItisalsoanassociatememberoftheRoundSquare.DoverCollegemaintainstheoriginalcharacteristicsof its inception- a school which caters not only for a broadrange (both academicallyand socially)of local pupils,keeping its fees affordableto achievethis,but also catersfor a significantminorityof pupilsfrom overseas.It is a Collegewith an ethosbasedinregularworshipinChapelintheChurchofEnglandtraditionsandthisreinforcestheethos of friendliness and openness that is now well established - it is very much part of the value of a Dover College education. ``` ``` Dover College is an academicallynon-selective,co-educationalboardingand day school.It provideseducationto some 300pupils,boardingandday,fromtheagesof3-18.TheCollegealsorunsanInternationalStudyCentreto support the integrationof overseas studentsinto the College.Entryinto the schoolis generallyat pre-reception,reception, 7+, 11+, 13+ or 16+. However, pupils are welcome to join the College at any age. ``` ``` We believe wholeheartedlyin developingconfidencein youngmen and women, givingthem opportunitieswhich they perhapswouldhaveneverexperiencedandencouragingthemtoexceedtheirownexpectations.We'reproud of beinga familyschoolwherepupilsareknownindividually.Ourcommunityspiritis centraltothis;we havea number offamiliesofmembersofstafflivingonsiteandtheirwarmthofwelcomeandinclusivityencouragesahome from home for boarders and day pupils alike. ``` ``` OurPrepSchoolisabeaconofexcellenceandhasawarmandwelcomingatmosphere.Thehighlytrained and motivatedstaffarefocusedontheneedsof theindividualchild.The SeniorSchoolis staffedbysuperbteachers who consistentlydeliverexcellentresultsin the classroom,placingan emphasison academicrigouralongsidedeveloping a loveoflearning.Ontopofthis,ourwideandvariedactivitiesprogrammeisdesignedtoencourageteamwork and develop stamina and provide a healthy body alongside an inquiring mind. ``` ``` DoverCollegeis proudlyInternational,representinga sliceof ourinter-connectedanddiversesociety.Day pupils live alongside boarders in our houses and benefit from the opportunities and facilities of a 24/7 boarding environment. ``` ``` We are an equalopportunityorganisationand are committedto a workingenvironmentthatis free from any form of discriminationonthegroundsofcolour,race,ethnicity,religion,sex,sexualorientationordisability.We make reasonable adjustments to meet the needs of staff or pupils who are or become disabled. ``` ``` TheCollegetakesitsresponsibilityforsafeguardingveryseriouslyandiscommittedtoprovidingasafeand secure environment for our pupils to flourish. ``` ``` -3- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`OBJECTIVES AND ACTIVITIES OUR ETHOS AND AIMS`** ``` Our aims are: ``` ``` -Toprovideademandingbutflexibleacademiccurriculumthatischallengingforpupilsofawiderangeof ability leading to good academic qualifications on departure. ``` - `To ensure an academic environment in which all children can realise their full potential.` ``` - To enablepupilsto achieve better examinationgrades than those achievednationallyby pupilsof similar intellectual capacity. ``` ``` -Toconcentrateonleadershipandpersonaldevelopmentthroughawell-structuredextra-curricularprogramme of activitiessuchasmusic,sportsanddrama,whichpromotesdevelopmentoftheindividualandengagementwith the wider world. ``` - `To maintain strong international links.` - `To create a disciplined, safe, and friendly environment of wide cultural and social diversity.` - `To ensure an ethos that encourages the spiritual, social, and personal development of the individual.` - `To provide the necessary personal skills and confidence to make pupils attractive to a future employer.` - `To develop all members of academic and support staff, as well as pupils, in these aims.` ## **`OUR OBJECTIVES`** ``` The College'sobjectivesare set out in the Project 150 DevelopmentPlan adoptedby Councilin November2015 and as developedover the last five years. The Plan initiallyset out a 10-year programmefor the developmentof all aspects of the College; with many areas of development within the College already achieved. ``` ``` OurmissionistobeaschoolofexceptionalacademicachievementattheheartoftheDovercommunity where confidenceis nurtured,innovationis celebrated,inquisitivenessis encouraged,individualityis embraced and creativity is fostered. ``` ``` Specifically, the Project 150 Development Plan outlines development objectives in each of the following areas: ``` - `Curriculum` - `Extra-curricular` - `Teacher Development` - `Spiritual, Moral & Cultural` - `Pastoral Care` - `Welfare, Health & Safety` - `Governance Leadership & Management` - `Admissions & Marketing` - `Campus Enterprises` - `Support Services` - `Community & Old Dovorians` ## **`COVID-19`** ``` In January2020, the schoolidentifiedCovid-19as a potentialpandemicrisk and immediatelytook steps to implement protectivemeasuresacrosstheCollegesite.Handwashingandsanitisingfacilitieswereimprovedandadded where necessary.Additionalcleaningwas introducedfor hightouchpointareasaroundthe schoolandsocialdistancing was encouraged. Access to the site was limited to all but essential contractors and visitors. ``` ``` AscommunitytransmissionwithintheUKaccelerated,theschooltookthedecisionon17Marchtoencourage the boardingcommunitytotravelhomewhiletravelcorridorswereinplace.TheCollegethenpreparedtomoveto a distancelearningmodel.FullschoolbuildingclosurefollowedfromtheafternoonofFriday20Marchafter the Secretary of State for Education's announcement on 18 March. ``` ``` -4- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`OBJECTIVES AND ACTIVITIES OUR ETHOS AND AIMS`** ``` Allteachersandalmostallnon-teachingstaffmovedtoamodelofworkingfromhomefrom20March.The school carefullyfolloweditspastoralpoliciesandallrelevantUK Governmentguidanceandadviceto protectthesafety and wellbeing of students and staff during the unprecedented times. ``` ``` Non-teachingstaffwhocouldnotworkfromhomewerefurloughed.Therewasasignificantreductionin expected incomefromEaster2020onwardsduetoseveralshorttermpupilsbeingunabletotakeupplacesorcontinue their studies at the College and also due to the cancellationof summer lets and other income generationactivities. Summer fee invoices were re-issued on the basis of distance learning. ``` ``` The loss of incomewas mitigatedas far as possibleby furloughingstaff,freezingrecruitmentactivity,the cessation of all non-essentialexpenditureand the pausingof capitaldevelopmentand significantmaintenanceworks. One building projectthatwasnearcompletionwaspermittedtocontinuebecausethefinancialpenaltiesforceasingwork would haveoutweighedanypotentialsavings.Thebuildingextensionwasalsorequiredforteachingprovision from September 2020. ``` ``` TheFinanceandGeneralPurposeCommitteemetwiththeHeadmasterandBursaronaweeklybasisto monitor emergingissuesandthe College'sresponse,andto developactionplansto continueoperations.This included testing arangeofpotentialfuturescenariosagainsttheschool'sfinancialmodelandconsideringmitigatingactionsfor each scenario. Necessary actions were taken based on these discussions. ``` ``` Significantwork was conductedover Summer 2020 to ensure the College was fully preparedfor the returnof pupils in September2020.ProgressofthepandemiccontinuestobemonitoredandtheCollegewilladaptitsresponsesin a considered and flexible manner. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Pupil Numbers and Fees`** ``` The College educatedan average of 295 pupilsover the year, 79 in the Prep Schooland 216 in the Senior School.61 of thesepupilswereinthe6thForm.Thesefiguresincludeanumberofshortstaypupils,withwhomthepopularity of the school has been increasing in recent years. ``` ``` Feesfortheyear2019-2020wereincreasedbyanaverageof3%(dayfees)and4%(boardingfees)onthose from 2018-2019,withthelowestincreaseforseniordaypupilsof2.8%andthehighestincreasetofullboardersof 4.6%, whichisindicativeofcostslyingwheretheyfall.Despitethisincrease,DoverCollegecontinuestoachieveitsaim of chargingfees whichare amongthe lowest offeredby independentschoolsin East Kent. This supportsour objective of offeringan affordableindependenteducationfor boysandgirlsfrom Doverandthe surroundingareas,supported by generous bursary and scholarship grants from the Dover College Trust. ``` ## **`Academic`** ``` 2020resultsmustbeconsideredinthecontextofthelockdownduetotheCovid-19pandemicwhichresulted in CentreAssessedGradesbeingissued.These were issuedtakingintoaccountthe resultsof mockexams in November, intheLentandSummerTerms,ongoingtesting/assessmentandcoursework.Arigorousinternalquality assurance ensuredthat there was no gradeinflationand on the whole,the finalCAGs were in line with the teachers' predictions on our ongoing tracking. ``` ``` AtGCSE,theoverallpassrateandpercentageof5-9hasdrasticallyincreasedcomparedto2019(94.5%and 74.4% respectively compared to 64.3% and 47.8% in 2019) with a substantial increase in value added in most departments. ``` ``` -5- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` AtAlevelandBTEC,thepassratewas100%with35.5%A*-A,54.7%A*-Band81.1%A*-C.TheAlevelresults were particularlyexcellent,with40%A*-A.However,fewerstudentsgainedthehighestgradesinBTEC(53%Merits and only1Distinctionand2Distinctions*).BTECstudentscontinuetostrugglewiththelevelrequiredinthe exam modulesinordertoachievethehighestgrades.WearelookingatmovingtoTechLevels(level3)whichoffer more practical elements. This should help us increase our value added at BTEC. ``` ``` 15studentsoutof19appliedforUniversityandallwereofferedaplace,with10/19accessingtheir1st choice, includingCambridge,St Andrews,Edinburgh,Liverpool,King'sCollegeLondon,UEL,Staffordshire,Winchester, Derby, Bangor and Canterbury Christ Church University. ``` ## **`Extra-Curricular Activities`** ``` 2019-20continuedtoseetheriseinpopularityofthedramaandthenewlylaunchedCreativeDigital Media department.Numerousextra-curricularclubswereofferedinboththePrepandSeniorSchoolincluding: animation, film, technicaltheatreenrichmentand dramato name a few. The Collegecontinuesto buildits reputationas a centre of excellencefor creativearts.At the startof the year tripsto see a wide varietyof theatrein bothLondonand closer to home were undertakenmuch to the enjoymentof pupilsand staff. The drama departmentalso subscribedto digital theatreduringtheperiod,givingthedramapupilsofallkeystagesaccesstovitalresearchmaterialandexamples of live performance. ``` ``` A highlightof the MichaelmasTerm was a touringproductionof Macbethvisitingthe school.This event was designed tosupporttheEnglishandDramasyllabiandwasofferedtoallpupilsin3rdFormtoUpperSixth.Onthestage a full-scaleproductionof'Chicago'wasdeliveredtoaliveaudienceinearlyspring,with40pupilsperforming and technicalsupportfromacrewof8pupils.2020wasduetoseethefirstinternationaldramaresidentialtrip, with pupilstravellingtoaFrenchTheatreinstitutetocreateanoriginalpieceoftheatretobeperformedinboth French andEnglish.Thiswastobe presentedtolocalprimaryschoolchildrenontheirreturnfromFrancebutwassadly this was cancelled due to the Covid-19 pandemic. It is hoped that something similar will be run in future. ``` ``` TheCollegecontinuestorunasuccessfulLAMDAprogramacrossboththePrepandSeniorSchools,withthe first cohortof5thFormhavingcompletedtheirexaminationspriortoschoolclosure.Fortunately,thisactivityhas been able to continue 'virtually' throughout the pandemic and lockdowns, including examinations. ``` ## **`Games`** ``` Althougha disruptedyear,we stillmanagedtocomplete2 termsoffixtureswithminimaldisruption,engaged pupils withourextensivegamesprogrammeandencouragedacademicprogressthroughouttheyear.Inthe Michaelmas term our full rangeof sportsprovisionwas on offer, with pupilstakingpart in sailing,horse riding,cross country, Eton fives,badminton,basketballandgym,alongsidethe mainsportsof the term,footballforboysandhockeyforgirls. A rangeoffixtureswerecompletedforboththemajorgamesoptionsacrossallyeargroupswithintheschool. Our seniorboys had their most successfulseason in recent years. In a busy Michaelmasterm we even managedto embark on our first joint football and hockey tour to San Sebastian, which was a wonderful experience for all. Thiswasalsoanincredibleopportunityforallofthosewhotookparttoplaysomeinternationalfixturesand enjoy their first experience of a sports tour. ``` ``` OurfantasticsportprovisioncontinuedintheLentterm,withtheonlydifferencebeingthatthemajorsports had changedforboysandgirls,withthefocusnowbeingonrugbyandnetball.Despitea prematureendtotheterm, all pupilshadthe opportunityto competeagainstotherschoolsandourinclusiveapproachgave the opportunityfor the majorityofpupilstotakepartinfixtures.Ouracademicsportpupilshadbeenworkinghardallyearandroseto the challengeof remote learningby takingpart in remote practicalsessions and workinghard to complete the coursework units.Weareproudtosaythatweachieved100%passrateforboththelevel2and3BTECsportcourseswith a significant number of distinctions and distinction* being awarded to our pupils. ``` ``` -6- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`ACHIEVEMENT AND PERFORMANCE Adventurous Activities`** ``` TheCollegecontinuestobearegisteredindependentcentrefortheDukeofEdinburgh'sawardscheme. This academicyearsawasignificantnumberofnewparticipantsrecruitedtoembarkontheBronze,Silverand Gold awards.Their expeditiontrainingbeganin preparationfor the expeditionsin the Summer term of 2020, although was sadly postponed until Summer 2021 as a result of Covid-19 limitations. ``` ``` On 4th March 2020, a groupof Dover CollegeDofE participantswere presentedto HRH PrinceEdward;this included 4 successfulGold participantsfrom the previousyear who were also due to collect their Gold Award from Prince Edward at St. James Palace on 11 May 2020 but this had to be cancelleddue to the lockdown.Despite the lockdown,2 further Gold participants completed their Gold Award by August 2020. ``` ``` TheDofEcomponentsof:Residential,Physical,SkillsandVolunteeringareallrecordedremotelyona secure e-platformbyeachparticipantso,despitethelimitationsoflockdown,mostparticipantshavebeenableto continue to record their achievements. ``` ## **`FINANCIAL ASSISTANCE`** ``` TosupportourcharitableobjectivesandprovidewideraccesstoaDoverCollegeeducationwehavearange of policiesandfinancialassistanceprogrammesdesignedtohelpabroadrangeofparents.Thesearedetailedin our Scholarship and Bursary Policy and are outlined below. ``` ## **`Scholarship Policy`** ``` ScholarshipsaregenerallyawardedforentryinShell(year7),3rdForm(year9)and5thForm(year11) although individual awards may be made outside of these entry points at the Headmaster's discretion. ``` ``` Scholarshipsareawardedstrictlyinaccordancewiththeresultsoftestsandevaluationsdesignedtorecognise high academic potential or the ability to make a significant contribution to the College in one or more areas. ``` ``` These take place in the Lent term and are advertised locally and on our website. ``` ``` Scholarships are awarded on the basis of a percentage of gross fees and are generally in the order of 10%. ``` ## **`Bursary Policy`** ``` Bursariesaremeanstestedfinancialawards,thepurposeofwhichistoprovideaDoverCollegeeducationto able childrenwhoseparentsorguardianswouldnototherwisebeabletoaffordit.Bursariesareamajorpartof our charitable objective and are of significant public benefit. ``` ``` BursariesaretargetedatpupilswhowillmakeapositivecontributiontothelifeoftheCollege,bethat through academicachievementorbyexcellingatotherschoolactivities.Therefore,otherthaninexceptional circumstances, bursaries are only available as top-up funding for pupils who have been awarded a Scholarship. ``` ``` TheCollegealsooffersfinancialassistanceincasesofunforeseenhardship,particularlywherepupilsareata critical stageintheireducation.WhilsttheCollegedoesbenefitfromsometrustsandbequeaths,themajorityof bursaries arefundedbytheCollegeoutoffeeincome.Inmakingawardswearethereforeconsciousofthecircumstances of bursaryapplicantsinrelationtofullfeepayingparents,manyofwhommakesignificantsacrificesinorderto send their children to Dover College. ``` ## **`Military Parents`** ``` WheremilitaryparentsareinreceiptoftheContinuityofEducationAllowance(CEA)welimitthe parental contribution to 10% and give fee remission for any amount between that and the amount received from the CEA. ``` ``` -7- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Sibling Discounts`** ``` To assistparentswhowishto sendmore thanonechildto DoverCollegewe offera 5% discountforthe second child and a 10% discount for the third and any further siblings who attend the College at the same time. ``` ## **`Assistance for Staff`** ``` To attractand retain high calibre staff, both teachingand support,we offer fee remissionfor pupilsof staff in both the Prep School and Senior School, to enable them to educate their children at Dover College. ``` ## **`Payment by instalments`** ``` Many of our parentsbenefit from our termly or monthly(three instalmentsper term) Direct Debit facility,which is the College's preferred method of payment of fees. ``` ## **`Bursary and Scholarship Awards 2019-20`** ``` Duringthe currentyear,63 (2019:49) pupilswere in receiptof a means testedbursarywitha totalvalueof £331,851 (2019:£247,520).Theaverageawardwas£1,894(2019:£1,661)and3 (2019:3) pupilshadtotalfee remission worth 75%ormore.TheCollegecontinuedtosupportmilitaryandFCOparentsinreceiptoftheContinuityof Education Allowance(CEA)overthelastyear,withadditionalbursarysupportinadditiontotheCEAtoensure parental contribution did not exceed 10%. ``` ``` Scholarshipswereawardedto87pupils(2019:79)amountingto£181,128(2019:£151,648).Inaddition,the two pupilsnominatedinthepreviousyearfortheBostock-Wheelerscholarshipbenefittedfrom£26,550(2019: £16,050 for one pupil) of their fees being met by the Bostock-Wheeler Trust. ``` ``` IntotaltheCollegegrantedfeeremissionsto150(2019:157)pupilsamountingto£765,157(2019:157 pupils amounting to £645,654). This represents 11.5% of Gross School Fees (2019: 11.5%). ``` ## **`Friends of Dover College and Old Dovorians`** ``` TheFriendsofDoverCollegeranuntilJuly2020asaseparatecharity,comprisedofcurrentparents broadly correspondingtoaParentTeacherAssociation.ThecharitywoundupinJuly2020havingdonatedgenerous sums towards the development of music and pupil wellbeing facilities within the College during the 2019/20 year. ``` ``` The Councilwouldlike to acknowledgethe invaluablecontributionto Dover Collegemade by the Friends, particularly theirgenerosityinthesespecificprojects,andlookforwardtothedevelopmentofanewparentorganisationin the future. ``` ``` Past pupilsof Dover College are knownas Old Dovorians,many of whom continueto play an active part in the success oftheCollege.WhilstcontinuingtoworkinpartnershipwiththeOldDovorianClub,theCollegealsohasan Alumni Societytokeepallpastpupils,parentsandstaffinformedofdevelopmentsattheCollege.Thisinitiativehasseen a goodresponsebringinganumberbackintouchwiththeCollegeandwithAlumnieventstakingplaceon a re-invigorated basis, both domestically and internationally. ``` ## **`FINANCIAL REVIEW`** ``` The financialstatementsshow thattotalincomefor the year was £5,452,633(2019:£5,674,136).The principle source ofincomeisfees,whichaccountedfor85.9%(2019,87%)ofthetotalincome.Asaneducationalcharitythese funds are used exclusively for the advancement of our educational objectives. ``` ``` As a charitywe also benefit from certain tax exemptionsand a reductionin business rates, the benefits from which are alsouseddirectlytosupportoureducationalpurposes.Withoutthese,feeswouldbecomeunaffordablefor many parents. ``` ``` -8- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`FINANCIAL REVIEW`** ``` Thedecreaseinincomein2020,comparedto2019,isaccountedforbyadecreaseinfeesreceivableof5.3% (2019: inc.6.2%),mostnotablyduringtheclosureoftheschoolduetotheCovid-19pandemicinSummer2020.There was alsoadecreaseinDonationsandLegaciesof55.6%(2019:inc.120%),adecreaseinAncillaryTradingincomeof 74% (2019: inc. 10%), and an increase in other income of 490% (2019: inc. 13%.). The increase in other income is due to the receipt of the Coronavirus Job Retention Scheme Grant which helped offset losses during the Covid-19 pandemic. ``` ``` Theaccountsshowanoverallsurplusfortheyearof£96,357(2019:deficitof£252,345)whichisinlinewith the Council aim of a financial break-even. ``` ``` Current Assets ended the year at £2,049,379 (2019: £1,575,459). ``` ``` Followinganadvanceof£200,000inrelationtothepurchaseof1PrioryHill,theoutstandingbalanceofthe loan payabletotheDoverCollegeTrustis£300,000(2019:£100,000).Theloanwillberepaidinfullonthedisposalof 8 EffinghamCrescent,which is a propertyno longerrequiredby the College.Duringthe periodthe College also took out a Coronavirus Business Interruption Loan of £700,000. There are currently no other borrowings. ``` ``` Until30April2020,teacherswereauto-enrolledasmembersoftheTeachers'PensionScheme.TheTPSis an unfunded multi-employer defined benefits pension scheme governed by the Teachers' Pensions Regulations 2014. ``` ``` Memberscontributeatalevelaccordingtotheirmonthlysalaryandrespectivecontributionbandssetbythe TPS, withcontributionsfrommembersandtheemployerbeingcreditedtotheExchequer.Retirementandother pension benefitsarepaidbypublicfundsprovidedbyParliament.TheemployercontributionrateissetbytheSecretary of StatefollowingschemevaluationsundertakenbytheGovernmentActuary'sDepartment.Themostrecent actuarial valuationof the TPS was preparedas at 31 March 2016 and the ValuationReport,which was publishedin March 2019, confirmedthattheemployercontributionratefortheTPSwouldincreasefrom16.4%to23.6%from1 September 2019. ``` ``` Employersare also requiredto pay a scheme administrationlevy of 0.08% givinga totalemployercontributionrate of 23.68%.The31March2016ValuationReportwaspreparedinaccordancewiththebenefitssetoutinthe scheme regulationsandundertheapproachspecifiedintheDirections,astheyappliedat5March2019.However, the assumptionswereconsideredandsetbytheDepartmentforEducationpriortotherulinginthe 'McCloud/Sargeant case'.This case has requiredthe courtsto considercases regardingthe implementationof the 2015reformsto Public ServicePensionsincludingtheTeachers'Pensions.On27June2019theSupremeCourtdeniedthe government permissionto appealthe Courtof Appeal'sjudgmentthattransitionalprovisionsintroducedto the reformed pension schemesin2015gaverisetounlawfulagediscrimination.Thegovernmentis respectingtheCourt'sdecisionand has saidit willengagefullywiththe EmploymentTribunalas well as employerandmember representativesto agree how the discriminations will be remedied. ``` ``` The TPS is subjectto a cost cap mechanismwhich was put in place to protecttaxpayersagainstunforeseenchanges in scheme costs. The Chief Secretaryto the Treasury,havingin 2018 announcedthat there would be a review of this cost cap mechanism,in January2019 announceda pause to the cost cap mechanismfollowingthe Courtof Appeal's ruling intheMcCloud/SargeantcaseanduntilthereiscertaintyaboutthevalueofpensionstoemployeesfromApril 2015 onwards.Inviewoftheaboverulingsanddecisionstheassumptionsusedinthe31March2016Actuarial Valuation maybecomeinappropriate.Inthisscenario,avaluationpreparedinaccordancewithrevisedbenefitsand suitably revisedassumptionswouldyielddifferentresultsthanthosecontainedintheActuarialValuation.Untilaremedy to thediscriminationconclusionhasbeendeterminedbytheEmploymentTribunalit is notpossibleto concludeon any financial impact or future changes to the contribution rates. ``` ``` Followinga thoroughreviewby Council,andfullperiodof consultationwithteachingstaff,the decisionwas taken to exittheTPS andjointheAvivaAPTIS(AvivaPensionTrustforIndependentSchools)masterpensiontrustfrom1 May 2020.Staffareableto choosetheircontributionrate,withemployercontributionsona matchingbasisbetween10 - 16%. Teachingstaff death in service benefitspreviouslycovered by the TPS are now under a separateAviva Group Life policy. ``` ``` -9- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`FINANCIAL REVIEW`** ``` Support staff are invited to join a defined contribution scheme operated by Royal London. ``` ``` TheCollegethereforehasnopensionliabilitiesotherthantheregularpaymentofemployercontributionsinto these schemes. ``` ## **`Reserves & Financial Health`** ``` ThefinancesofDoverCollegearemanagedbytheBursarandmonitoredbytheFinanceandGeneral Purpose Committee.TheFinanceandGeneralPurposeCommitteereceivesmonthlymanagementaccountsand cashflow forecasts, and termly broader financial updates. ``` ``` In line with its CharitableObjectivesthe College'spolicyis to maximise the use of income for the deliveryof education tocurrentpupilswhilstprovidingforcapitalprojectstoenhancethefacilities.Asapopularschoolwithgood cost controls,access to bankingfacilitiesif requiredand a clear developmentplanfor the future,Governorsdo not believe it necessary to build up free reserves. ``` ``` Asdetailedinnote23totheaccountsthegeneralreserveamountedto£2,340,740(2019:£1,760,825)at the year-end.Restrictedfundscarriedforwardtotalled£111,300(2019:£108,941).Theclosingbalanceofnetassets was £2,452,040(2019: £2,355,683).The net currentassets of the charityat the year-endwas £204,267(2019: Net current Liabilityof£329,550).Note17oftheaccountsshowsthisisduetotheadditionoftheamountofCBILS loan repayablebetween2-5years.TheBursarandtheF&GPcommitteeregularlyreviewthisinordertominimise the financial risk and exposure of the charity. ``` ``` A FoundationFund was previouslyestablishedto providecapitalfunds for major futuredevelopments.Note 24 shows thattogetherwiththedesignatedfundheldbytheDoverCollegeTrustthecombinedvalueofFoundationFunds is £Nil (2019: £618,289).These funds were used in year to buildan ICT and learningsupportfacilityextensionto the Leo WrightbuildingaspartofProject150developments,aswellastherefurbishmentofthemainbuilding.Prior to liquidation,investmentofthesefundswasmanagedbyRathbonesunderthecontroloftheFinance& General Purpose Committee in line with the requirements of the Trustee Act 2000. ``` ``` The Collegeis fortunatein being the principlebeneficiaryof a numberof separatecharities,the largestof which is the DoverCollegeTrust.DuringtheperiodtheCollegewasextremelyfortunatetoreceive£110,000fromthe Dover CollegeTrusttowardsscholarshipsand bursariesin additionto the foundationfundsused for the Leo Wright building project. ``` ## **`Arrangements for setting pay and remuneration of key management personnel`** ``` The key managementpersonnelof thecharitycomprisetheboardof GovernorsandtheHeadsupportedbya Senior ManagementTeam, whichincludesthe BursarandDeputyHeadsof the SeniorandPrepSchoolsandother members who are invited to join as appropriate from time to time. ``` ``` TheremunerationoftheHeadandBursararesetbyGovernorsfollowingdiscussionsatcommitteelevel including F&GPandEducationcommittees.TheBoardandsub-committeeslookatsuccessofExecutivegoals,SMART targets and external benchmarking in making their awards to key personnel. ``` ## **`Fundraising Policy`** ``` Thecharity'sapproachtofundraisingisinternallymanagedandensuresthatrecognisedstandardsareupheld, any complaintsare dealtwithpromptlyandthatcampaignsare notpersistentwithan emphasison protecting vulnerable people. The charity reviews Fundraising regularly and is committed to follow best practice wherever possible. ``` ``` -10- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`FUTURE PLANS`** ``` As partof the Project150 DevelopmentPlanthe Collegeis embarkingon an ambitiousandextensive re-development programmefortheCampus.SignificancemaintenanceworkhasbeencarriedoutwithintheRefectory,a twelfth centurybuildingwhich was originallya refectoryfor the Dover Priory.The Refectoryis a scheduledancient monument and thereforediscussionshave taken place with HistoricEnglandon the plannedwork. All work is completedwith the specialist oversight of Clague Architects. ``` ``` DuetotheshorttomediumtermfinancialconstraintsimposedbytheCovid-19pandemic,futureplansand the College'sdevelopmentstrategywillbethoroughlyreviewedbythemanagementteamandCouncilinthe coming twelve months. This will ensure there is no long term detriment to or impact upon the fabric of the College. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ``` TheGoverningbodyisconstitutedundertheCollege'sRoyalCharter.GovernorsareelectedattheAnnual General MeetingheldinMarcheachyear.Upto15Governors(inadditiontotheChairman)areelectedtotheCouncil of Governors,whichis responsiblefor settingthe strategyandoverseeingthe managementof the College,Including the approval of policies and monitoring of the College's Development Plan. All Governors are also Trustees of the Charity. ``` ``` TheCouncilofGovernorsis responsibleforsettingthesalariesoftheHeadmasterandtheBursar.Theyalso approve the annualpayincreaselevel forallotherstaff.The policyon remunerationis to paysalariesin keepingwiththe size oftheCollegeandthefinancialresourcesavailable.Thepolicyonannualpayincreasesreflectsthe financial performanceoftheCollegeaswellaseconomicfactorsandforecasts.Forthe2019-20financialyearGovernors did notagreetoanoverallsalaryincrease.Teachingstaffwereawardedincrementleveladvancementwhere applicable. This was an extraordinary measure to ensure staff costs were maintained at an affordable level. ``` ``` ThestructureofGovernanceissuchthatfourCommitteesoperatewithinTermsofReferenceanddelegated powers agreed by Council: ``` ``` TheFinanceandGeneralPurposeCommittee:TomonitorthefinancialpositionoftheCollegeandits onward planning;tomonitormarketingactivityanditsonwardstrategy;tooverseetheinvestmentofFoundationFunds, to monitor the College's building programmes. ``` ``` TheEducationCommittee:ToprovidestrategicinputtotheeducationprovidedbyDoverCollegemonitoring all aspectsofthateducation,includingpastoral,extra-curricularandstaffdevelopmentmatters.The Education Committee Is also responsible for Governor training. ``` ``` TheComplianceandRiskCommittee:TomonitortheCollege'spoliciesrelatingtoEducation,National Minimum Standards, Self-Evaluation Forms, Health & Safety, Employment and other such sundry matters; to monitor risk. ``` ``` TheNominationsCommittee.ToensuretheeffectiveGovernanceofDoverCollegebyoverseeingthe selection, appointment and monitoring of Governors and the overall governance procedures. ``` ``` TheCouncilofGovernorsmeetsfourtimesayear.AllCommitteesmeetonaregularbasisthroughouttheyear. An annualGeneralmeetingisheldinMarchforallGovernors.Variousmembersofstaffareinvitedtoattend the Committees to present. The Headmaster and the Bursar are invited to attend Governors' meetings. ``` ``` The Governors operate under an agreed voluntary code of practice, which builds upon the Bye Laws detailed in the RoyalCharter.ThiscodeofpracticehasestablishedguidelinesforGovernortermsofofficeandprovidesa structure for the regular review of the effectiveness of governance. ``` ``` All Governorsgive freely of theirtime and no remunerationwas paidto Governorsin the year. Governorsare entitled to claim reasonable travelling expenses to attend meetings. ``` ``` -11- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governor Recruitment and Training`** ``` TheNominationsCommitteeoverseestherecruitmentof Governors.TheEducationCommitteeis responsiblefor the training of Governors. ``` ``` Onbeinginvitedtojointhegoverningbody,newGovernorsareprovidedwithanextensiveInformationpack, which includesinformationabouttheCollegeanditsoperationaswellasthefunctionsandresponsibilitiesofbeing a Governor.TheyalsoundergoallnecessarySaferRecruitingprocedures.Oncethoseproceduresarecompleted, they formally join the Governing Body. ``` ## **`Management`** ``` DaytodaymanagementoftheCollegeisdelegatedtotheHeadmaster,whoisresponsibleforallaspectsof the College'soperation.InNovember2019itwasannouncedthatGarethDoodeshadbeenappointedasHeadmaster of theKing'sSchoolWorcesterfromSeptember2020.TheCouncilretainedtheservicesofOdgersBerndstonfor the recruitmentof hissuccessorandinMarch2020announcedthatMr SimonFisher,DeputyHeadatWorthSchool had beenappointedtoleadtheCollegeintoitsnextchapter.Simon'sbackgroundinboarding,academicsuccess and leadershipmadehimthestandoutcandidatefortheGovernorappointmentpanel.NotablyatWorthSchool, during Simon'stenureinthisrole,theschoolachieveditsbesteversetofGCSEresultsandreceivedthehighestpossible ISI grading for academic standards. ``` ``` TofacilitategoodcommunicationandeffectivemanagementthroughouttheCollegethefollowingstructure for management committees is in place: ``` - `Senior Management Team (weekly)` - `Safeguarding and Child Protection Committee (weekly)` - `Heads of Department Committee (weekly)` - `Events Co-ordination Committee (weekly)` - `Bursary Management Committee (weekly)` - `Health & Safety Committee (termly)` - `Housemasters/Housemistresses Committee (weekly)` - `Academic Achievement Committee (every two weeks)` - `Flagging Committee (every Monday and Friday break time)` - `Marketing and Admissions Committee (every half term)` - `Calendar and Administration Committee (once a term)` - `Uniform Committee (once a term)` ## **`Inspection`** ``` In January2020 the Collegewas inspectedby the IndependentSchoolsInspectorate.A glowingreportwas received in respectoftheEducationQualityInspectionandfullcompliancerecordedintheFocusedCompliance Inspection, withinwhichallstandardsweremet.Thefullreportcanberead here: https://www.dovercollege.org.uk/about-us/inspection-reports/ ``` ## **`Risk Management`** ``` DoverCollegehasimplementeda comprehensiverangeof riskmanagementinordertoprotectboththeCollege and itspupilsandstaff.TheCollegeissecureandcompliantwithallregulationsasdemonstratedthroughthe College successfully passing the ISI Focused Compliance Inspection in January 2020. ``` ``` TheGovernorsareresponsibleforoverseeingtherisksfacedbytheCollege.TheGovernorComplianceand Risk CommitteehasbeenactiveinreviewingtheCollege'scompliancewithallregulationsandcarefulmonitoringof risk factors.Throughthe risk managementprocesses establishedfor the School,the Governorsare satisfiedthat the major risksidentifiedhavebeenadequatelymitigatedwherenecessary.Itisrecognisedthatsystemscanonly provide reasonable but not absolute assurance that major risks have been adequately managed. ``` ``` -12- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ``` ApublishedRiskAssessmentPolicydetailshowtheCollegeapproachestheassessmentandrecordingofriskfor all aspectsoftheCollege.Theserangefromtheinherentrisksofourcampusbuildingsthroughtoschoolactivities and trips. Risks Assessments are centrally published, to enable easy access and reference by all members of staff. ``` ``` AdetailedRiskRegisterismaintainedwhichdescribeseachoftherisksfacedbytheCollege,dividedinto clear categories(Governance,Management,Finance,Employment,Teachingand Physical).Risk levels are ascribed together with the controlsand mitigationswe have put in placeto reduceeitherthe incidenceor the potentialimpactof these risks. ``` ``` The main risks faced by the College are: ``` ``` - A significantreductionin pupilnumbers,whichresultin a substantialreductionin Incomethatcouldjeopardise the financialviabilityof the College.The Collegecontrolsthis risk by ensuringthatwe offer an educationthatis attractive toprospectivepupilsandparents,byensuringtheCollegehasaneffectiverecruitmentstrategy,including the resourcingoftheAdmissionsandmarketingdepartment;ensuringthattheCollegehasaneffectivepupil retention strategy; investing in the facilities of the College; and preserving and developing the good reputation of the College. ``` ``` -TheCollegefailstomaintainsufficientfinancialsolvencyandisdeemedtonolongerbeaviablegoingconcern by auditors.TheCollegeaddressesthisriskbysettingannualbudgetswithpositivecashflowtargetsand careful monitoring of net cash reserves by the Finance & General Purpose Committee. ``` ``` -LossofTrustedStatusfortheissuingofCASformsresultinginusbeingunabletosponsorandtherefore recruit pupilsfromoutsideoftheEU(andfollowingBREXITfromoutsideoftheUK).Thisriskiscontrolledthrough the detailedreviewofindividualapplications,requiringpaymentofayear'sfeesinadvanceandensuringthe timely renewal of the facility. ``` ``` - Failureto arrangeadequateinsurance,which leaves the Collegeexposedto significantfinancialloss in the event of a majoraccidentor incident.The Collegecontrolsthis risk throughthe use of professionaladvisers,includingan annual review of coverage, and an annual review of the insurance renewal by the Compliance & Risk Committee. ``` ``` -AseriousbreachoftheCollege'sSafeguardingPolicy,whichcouldleadtosignificantreputationaldamage. The Collegecontrolsthisriskthroughannualsafeguardingtrainingforallstaff,ensuringstaffareawareof their responsibilityto reportany concerns;strictadherenceto proceduresset out in the SafeguardingPolicyin the event of an incident; and strict adherence to the Safer Recruitment Policy. ``` ``` -TheCollegeissubjecttoasecuritybreachbyanindividualorindividualswhoareintentuponcausingdamage or injury.TheCollegecontrolsthisriskthroughphysicalbarrierssuchasfencing,railingsandgates;electronic access controlstoexternalentrancesandmaindoorstoBoardingHouses;CCTV;andbyfollowingprotocolssetoutin the CrisisManagementPlan.Thereis a termlyauditprogrammeinordertocheckthattheHealthandSafetyPolicies are being followed. The reports of these audits are scrutinised by the Compliance & Risk Committee. ``` ``` -TheGoverningBodyhaveassessedtherisksthatthecollegemayfacefollowingBREXIT.TheBoardhave assessed these risks and have mitigated against any identifiable risks to minimise adverse impact on the college. ``` ``` - The GoverningBodycontinueto carefullymonitorandaddresstheimpactof Covid-19globallyandthe implications for the Collegeand significantlevel of risk posed.Proofingschoolstrategyand operationsfor the lastingeffects of the Covid-19 pandemic, and in the event of future pandemics, are high on the agendas for all committees. ``` ``` WerigorouslyadheretothereportingrequirementsofRIDDORandtakeactionwheresuchreports indicate improvements in our processes or infrastructure is required. ``` ``` -13- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Environmental Responsibility`** ``` The Collegehas a policyof purchasingfoodfrom localsuppliers,providinglocalemploymentand reducingthe impact on the environment of transporting food long distances. ``` ``` Wecontinuewithaprogrammeofreplacingoldwindowswithnewdoubleglazedunitstoimproveinsulation and reducetheuseofheatingfuels.Wealsomakeextensiveuseofrecyclingprogrammesincludingcard,paper waste, food and electricalitems. A full-siteenergyauditis plannedfor the near futureto renew the College'scommitment to reducing the impact of its operations on the environment. ``` ``` TheCollege'sdailyminibusrunsprovidevaluableserviceforparentswholiveatthefurthestextentofthe day footprintandalsohelpsreducetheCollege'secologicalfootprintcausedbydaypupilsbeingdriventoschool. It providesaparticularbenefitforthosepupilswhoaretooyoungtousepublictransport.Parentsareencouraged to considerusingtheservice,totakeadvantageofpublictransportortopromotebicyclingandwalkingsothat the volume of car journeys to and from school are reduced. ``` ``` The College actively promotes waste recycling and domestic fuel economy. ``` ## **`Community Service`** ``` TheCollegehasaveryactivecharitycommittee,whichsupportsaspecificcharityeachyear.Thisyearthe chosen Charity was Porchlight. ``` ``` PorchlightisKent'slargestcharityforhomelessandvulnerablepeople.Theystriveforafairersociety where vulnerablepeoplefindstability,themostexcludedareincluded,andwherehomelessnessandpovertyarethings of the past. ``` ``` ThePorchlightmissionistochangelivesforthebetterby:Preventingpeoplefrombecominghomelessthrough the provisionoftimelyandpersonalisedsupportservices,providinghousing,education,employabilityand personal developmentsupporttothemostvulnerableandisolatedpeopleinourcommunities,challengingnegative attitudes towards people who are homeless, living with mental ill health, or living in poverty. ``` ``` Althoughphysicalfundraisingactivitieswerecurtailedforpartoftheyear,effortsweremadetoraiseasmuch as possiblefor this worthylocal communitycause and the pupilsand staff raised in excess of £2,000 duringthe academic year. ``` ## **`Links with the Community`** ``` The Collegetakes its role in the localcommunityvery seriouslyand where academiccommitmentsallowwe make our historicsite and its facilitiesavailablefree of chargeor at cost. Duringthe year we have providedheritagetoursof our historic site. ``` ``` Anumberoflocalgroupsuseourhalls,ourfacilitiesareusedbythePolicefortheirgraduationceremoniesand our sportsfacilitiesaremadeavailabletolocaldisabledsportsclubs.Ourminibusesarealsomadeavailableto local groups.We offer a range of supportactivitiesfor pupilsattendinglocal state schoolsincludingfree entranceto school productions and hosting annual sporting tournaments to which local primary schools are invited. ``` ``` We have also arrangeda numberof activitieson our site and invitedotherlocalschoolsto joinus such as chances for pupilsto meet authorsor be educatedon PHSE matters.Two members of the managementteam upheldroleson the Governing Bodies of local schools. ``` ``` Other links with and support for local state schools include: ``` ``` - Providing use of our minibuses free of charge for local schools ``` ``` - Workingin partnershipwith the Dover Grammar School for Boys and the Dover Grammar School for Girls on Duke of Edinburgh expeditions ``` ``` -Providingfree use of our sports facilitiesto a numberof Pre-Schoolsand PrimarySchoolsin the area to enable them to hold sports days ``` ``` -14- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** - `In terms of wider public benefit the College educates over 200 UK pupils who would otherwise have to be educated` - `at the expense of the state.` - `We maintain a site of historic importance with two Scheduled Ancient Monuments.` - `The local economy benefits from the money spent by our pupils, particularly those from overseas.` - `Our bursary programme and community links also create a social asset without cost to taxpayers.` ``` The Trustees have had regard to the Charity Commission's guidance on public benefit. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ``` Please see details on pages 1 and 2. ``` ## **`EVENTS SINCE THE END OF THE YEAR`** ``` Information relating to events since the end of the year is given in the notes to the financial statements. ``` ## **`STATEMENT OF TRUSTEES RESPONSIBILITIES`** ``` ThetrusteesareresponsibleforpreparingtheTrustees'AnnualReportandthefinancialstatementsin accordance withapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAccepted Accounting Practice).The law applicableto charitiesin England& Walesrequiresthe trusteesto preparefinancialstatements for eachfinancialyearwhichgivea trueandfairview of thestateof affairsof thecharityandof theincoming resources and application of resources of the charity for that period. ``` ``` In preparing these financial statements, the trustees are required to: ``` - `Select suitable accounting policies and then apply them consistently;` - `Observe the methods and principles in the Charities SORP 2015 (FRS 102);` - `Make judgements and estimates that are reasonable and prudent;` ``` -Statewhetherapplicableaccountingstandardshavebeenfollowed,subjecttoanymaterialdepartures disclosed and explained in the financial statements; and ``` ``` -Preparethefinancialstatementsonthegoingconcernbasisunlessitisinappropriatetopresumethatthe charity will continue in operation. ``` ``` The trusteesare responsiblefor keepingproperaccountingrecordsthat disclosewith reasonableaccuracyat any time the financialpositionof the charityand enable them to ensure that the financialstatementscomplywith the Charities Act 2011, the Charities(Accountsand Reports)Regulations2008 and the provisionsof the Royal Charter.They are also responsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsfortheprevention and detection of fraud and other irregularities. ``` ``` Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedepartedfromthe Charities (AccountsandReports)Regulations2008onlytotheextentrequiredto providea 'trueandfairview'.This departure hasinvolvedfollowingtheAccountingandReportingbyCharities:Statementof RecommendedPracticeapplicable to charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and RepublicofIrelandissuedinOctober2019ratherthantheAccountingandReportingbyCharities;Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ``` ``` The trusteesare responsibleforthe maintenanceandintegrityof the charityandfinancialinformationwhichmay be includedonthecharity'swebsite.LegislationintheUnitedKingdomgoverningthepreparationanddissemination of financial statements may differ from legislation in other jurisdictions. ``` ``` ApprovedbytheCouncilofGovernorsofDoverCollegeon20March2021.AdoptedbytheTrusteesatthe Annual General Meeting on 20 March 2021. ``` ``` -15- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ``` Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` ``` ............................................. M Goodridge MBE - Trustee ``` ``` -16- ``` ``` REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofTheCorporationofDoverCollege(the'charity')fortheyear ended 31stAugust2020whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCashFlow Statement andnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancial reporting frameworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccounting Standards (UnitedKingdomGenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. ``` ## `In our opinion the financial statements:` - `give a true and fair view of the state of the charity's affairs as at 31st August 2020 and of its incoming resources and application of resources for the year then ended;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'; and` - `have been prepared in accordance with the requirements of the Charities Act 2011.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law. OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditorsresponsibilitiesfortheauditof the financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical requirementsthat are relevantto our auditof the financialstatementsin the UK, includingthe FRC's Ethical Standard, andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` We have nothingto reportin respect of the followingmatters in relationto which the ISAs (UK) requireus to report to you where: ``` - `the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or` - `the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in the annual report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthereisa material misstatementinthefinancialstatementsoramaterialmisstatementoftheotherinformation.If,basedonthe work we haveperformed,we concludethatthereis a materialmisstatementof thisotherinformation,we arerequired to report that fact. We have nothing to report in this regard. ``` ## **`Matters on which we are required to report by exception`** ``` WehavenothingtoreportinrespectofthefollowingmatterswheretheCharitiesAct2011requiresustoreport to you if, in our opinion: ``` - `the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements ; or` - `sufficient accounting records have not been kept; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `we have not received all the information and explanations we require for our audit.` ``` -17- ``` ``` REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`Responsibilities of trustees`** ``` As explainedmore fullyin the Statementof TrusteesResponsibilities,the trusteesare responsiblefor the preparation ofthefinancialstatementswhichgivea trueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic alternative but to do so. ``` ## **`Our responsibilities for the audit of the financial statements`** ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to influence the economic decisions of users taken on the basis of these financial statements. ``` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of the Independent Auditors. ``` ## **`Use of our report`** ``` This reportis made solely to the charity'strustees,as a body,in accordancewith Section144 of the CharitiesAct 2011 andregulationsmadeunderSection154ofthatAct.Ourauditworkhasbeenundertakensothatwemightstate to the charity'strusteesthosematterswe are requiredto state to them in an auditors'reportandfor no other purpose. To the fullest extent permittedby law, we do not accept or assume responsibilityto anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ``` ``` Spain Brothers & Co Chartered Accountants and Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Westgate House 87 St Dunstans Street Canterbury Kent CT2 8AE ``` ``` Date: ............................................. ``` ``` -18- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES`** ## **`FOR THE YEAR ENDED 31ST AUGUST 2020`** |**`Unrestricted`**
**`funds`**
`Notes`
**`£`**
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`2,615`**
**`Charitable activities`**
`6`
`Fees Receivable`
**`4,684,009`**
`Ancillary trading income`
**`53,724`**
`Other trading activities`
`4`
**`5,184`**
`Investment income`
`5`
**`2,702`**
`Other income`
`7`
**`531,347`**
**`Total`**
**`5,279,581`**
**`EXPENDITURE ON`**
`Raising funds`
**`216,482`**
**`Charitable activities`**
`8`
`Teaching`
**`2,792,135`**
`Welfare`
**`586,308`**
`Premises`
**`662,966`**
`Support Costs and governance`
**`950,754`**
`Grants, Awards and Prizes`
**`-`**
**`Total`**
**`5,208,645`**
`Net gains/(losses) on investments`
**`-`**
**`NET INCOME/(EXPENDITURE)`**
**`70,936`**
**`Transfers between funds`**
`20`
**`23,062`**
**`Net movement in funds`**
**`93,998`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`2,246,742`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`2,340,740`**|**`Year Ended`**
**`31.8.20`**
**`Restricted`**
**`Total`**
**`funds`**
**`funds`**
**`£`**
**`£`**
**`173,052`**
**`175,667`**
**`-`**
**`4,684,009`**
**`-`**
**`53,724`**
**`-`**
**`5,184`**
**`-`**
**`2,702`**
**`-`**
**`531,347`**
**`173,052`**
**`5,452,633`**
**`10,667`**
**`227,149`**
**`5,556`**
**`2,797,691`**
**`-`**
**`586,308`**
**`-`**
**`662,966`**
**`1,500`**
**`952,254`**
**`129,908`**
**`129,908`**
**`147,631`**
**`5,356,276`**
**`-`**
**`-`**
**`25,421`**
**`96,357`**
**`(23,062)`**
**`-`**
**`2,359`**
**`96,357`**
**`108,941`**
**`2,355,683`**
**`111,300`**
**`2,452,040`**|`Period`
`1.7.18`
`to`
`31.8.19`
`Total`
`funds`
`£`
`395,651`
`4,946,439`
`208,965`
`19,447`
`13,590`
`90,044`
`5,674,136`
`151,910`
`2,953,554`
`747,664`
`1,005,220`
`1,082,680`
`-`
`5,941,028`
`14,547`
`(252,345)`
`-`
`(252,345)`
`2,608,028`
`2,355,683`| |---|---|---| ``` The notes form part of these financial statements ``` ``` -19- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`BALANCE SHEET`** ## **`AT 31ST AUGUST 2020`** |**`Unrestricted`**
**`funds`**
`Notes`
**`£`**
**`FIXED ASSETS`**
`Tangible assets`
`12`
**`3,279,996`**
**`CURRENT ASSETS`**
`Stocks`
`13`
**`-`**
`Debtors`
`14`
**`200,393`**
`Cash at bank and in hand`
**`1,805,267`**
**`2,005,660`**
**`CREDITORS`**
`Amounts falling due within one year`
`15`
**`(1,845,112)`**
**`NET CURRENT ASSETS/(LIABILITIES)`**
**`160,548`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`3,440,544`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`16`
**`(1,099,804)`**
**`NET ASSETS`**
**`2,340,740`**
**`FUNDS`**
`20`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|**`Restricted`**
**`funds`**
**`£`**
**`67,581`**
**`-`**
**`-`**
**`43,719`**
**`43,719`**
**`-`**
**`43,719`**
**`111,300`**
**`-`**
**`111,300`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`3,347,577`**
**`-`**
**`200,393`**
**`1,848,986`**
**`2,049,379`**
**`(1,845,112)`**
**`204,267`**
**`3,551,844`**
**`(1,099,804)`**
**`2,452,040`**
**`2,340,740`**
**`111,300`**
**`2,452,040`**|`2019`
`Total`
`funds`
`£`
`2,967,188`
`3,771`
`311,668`
`1,260,020`
`1,575,459`
`(1,905,009)`
`(329,550)`
`2,637,638`
`(281,955)`
`2,355,683`
`2,246,742`
`108,941`
`2,355,683`| |---|---|---|---| ``` The financialstatementswere approvedbytheBoardof Trusteeson.............................................andwere signed on its behalf by: ``` ``` ............................................. ``` ``` M Goodridge MBE -Trustee ``` ``` The notes form part of these financial statements ``` ``` -20- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`CASH FLOW STATEMENT`** ## **`FOR THE YEAR ENDED 31ST AUGUST 2020`** |**`Year Ended`**
**`31.8.20`**
`Notes`
**`£`**
**`Cash flows from operating activities:`**
`Cash generated from operations`
`1`
**`302,779`**
`Interest paid`
**`(12,073)`**
**`Net cash provided by (used in) operating activities`**
**`290,706`**
**`Cash flows from investing activities:`**
`Purchase of tangible fixed assets`
**`(604,442)`**
`Purchase of fixed asset investments`
**`-`**
`Sale of tangible fixed assets`
**`-`**
`Sale of fixed asset investments`
**`-`**
`Interest received`
**`2,702`**
`Dividends received`
**`-`**
**`Net cash provided by (used in) investing activities`**
**`(601,740)`**
**`Cash flows from financing activities:`**
`New loans in year`
**`900,000`**
**`Net cash provided by (used in) financing activities`**
**`900,000`**
**`Change in cash and cash equivalents in the`**
**`reporting period`**
**`588,966`**
**`Cash and cash equivalents at the beginning of the`**
**`reporting period`**
**`1,260,020`**
**`Cash and cash equivalents at the end of the`**
**`reporting period`**
**`1,848,986`**|`Period`
`1.7.18`
`to`
`31.8.19`
`£`
`444,449`
`(6,417)`
`438,032`
`(707,342)`
`(96,557)`
`45,082`
`564,164`
`1,455`
`12,135`
`(181,063)`
`-`
`-`
`256,969`
`1,003,051`
`1,260,020`| |---|---| ``` The notes form part of these financial statements ``` ``` -21- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Year Ended`**
**`31.8.20`**
**`£`**
**`Net income/(expenditure) for the reporting period (as per the statement`**
**`of financial activities)`**
**`96,357`**
**`Adjustments for:`**
`Depreciation charges`
**`224,053`**
`Gain on investments`
**`-`**
`Profit on disposal of fixed assets`
**`-`**
`Interest received`
**`(2,702)`**
`Interest paid`
**`12,073`**
`Dividends received`
**`-`**
`Decrease in stocks`
**`3,771`**
`Decrease in debtors`
**`111,275`**
`(Decrease)/increase in creditors`
**`(142,048)`**
**`Net cash provided by (used in) operating activities`**
**`302,779`**
**`2.`**
**`ANALYSIS OF CHANGES IN NET FUNDS`**
**`At 1.9.19`**
**`Cash flow`**
**`£`**
**`£`**
**`Net cash`**
`Cash at bank and in hand`
**`1,260,020`**
**`588,966`**
**`Debt`**
`Debts falling due after one year`
**`(100,000)`**
**`(900,000)`**
**`Total`**
**`1,160,020`**
**`(311,034)`**|`Period`
`1.7.18`
`to`
`31.8.19`
`£`
`(252,345)`
`240,329`
`(14,547)`
`(45,082)`
`(1,455)`
`6,417`
`(12,135)`
`5,903`
`194,340`
`323,024`
`444,449`
**`At 31.8.20`**
**`£`**
**`1,848,986`**
**`(1,000,000)`**
**`848,986`**| |---|---| ``` -22- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`1. LEGAL STATUS`** ``` TheCorporationofDoverCollegeisregisteredasaCharityinEngland&Wales(RegisteredCharity Number 307856). ``` ``` The principal address is Effingham Crescent, Dover, Kent, CT17 9RH. ``` ``` The nature of the Charity operations are set out in the Trustee's Report. ``` ``` The Charityextendedits financialperiodfor the periodendedto the 31st August2019to come intoline with similar charities in the education sector. As a result, the comparatives are not entirely comparable. ``` ``` -23- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` ThecharityconstitutesapublicbenefitentityasdefinedbyFRS102.Thefinancialstatementshave been preparedinaccordancewithAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicableintheUKandRepublicofIrelandissuedinOctober2019,theFinancialReporting Standard applicableintheUnitedKingdomandRepublicofIreland(FRS102),theCharitiesAct2011andUK Generally Accepted Accounting Practice. ``` ``` Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedepartedfrom the Charities(Accountsand Reports)Regulations2008 only to the extent requiredto providea 'true and fair view'. This departurehas involvedfollowingthe AccountingandReportingby Charities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicablein the UK andRepublicof Irelandissuedin October2019ratherthanthe Accountingand Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ``` ``` The financialstatementsare preparedon a goingconcernbasisunderthe historicalcost convention, modified to includecertainitems at fair value.The financialstatementsare presentedin sterlingwhich is the functional currency of the charity. ``` ``` The significantaccountingpoliciesappliedin the preparationof thesefinancialstatementsare set out below. These policies have been consistently applied to all years presented unless otherwise stated. ``` ## **`Going concern`** ``` Thestatementoffinancialactivitiesfortheyearended31stAugust2020showsanoverallsurplusof £96,357 (periodended31stAugust2019deficitof£252,345),andshowsnetcurrentassetsof£204,267(2019 net current liabilities of £329,550) at the end of the financial period. ``` ``` FortheCharity's31stAugust2020financialstatements,whiletheCoronavirusoutbreakandthe related impactsareconsideredadjustingevents,andtherehasbeennoimpactontherecognitionand measurement of assets and liabilities. ``` ``` TheCharity'soperationshavebeenimpactedbytheCovid-19pandemic,withreducedfeeincome and increasedbursaries.Pupilnumbershavealsofallen,withanumberofunexpectedleaversdueto the pandemic. ``` ``` Pupilnumbersfor the comingyear are lower than at the same time last year, but the schoolcontinuesto push recruitment in an effort to increase them. ``` ``` DuringtheyeartheCharityhasreliedongovernmentgrants,intheformoftheCoronavirusJob Retention Scheme,fromwhich£500,962wasreceivedintheyear,andaCoronavirusBusinessInterruptionLoan of £700,000 was taken out shortly before the year-end. ``` ``` The Trusteesaretakingallpossiblestepsto safeguardstaffinaccordancewithgovernmentguidelines,and to alleviateanyimpactontheCharity'soperationsasfaraspossible.Duetotheuncertaintyoftheoutcome of the currentevents, the Trustees cannotreasonablyestimate the impactthese events will have on the Charity's financial position, results of operations, or cash flows in the future. ``` ``` Basedontheirreviewofthefinancialposition,reserveslevelsandfutureplansthetrusteeshave confidence that the Charity remains a going concern for the foreseeable future. ``` ``` -24- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Income`** ## **`Fees and similar earned income`** ``` Feesreceivableandchargesforservicesanduseofthepremises,lessanyallowances,scholarships, bursaries grantedbytheCollegeagainstthosefees,butincludingcontributionsreceivedfromrestrictedfunds, are accounted for in the period in which the service is provided. ``` ## **`Investment income`** ``` Investmentincomefrom dividends,bankbalancesandfixedinterestsecuritiesis accountedfor on an accruals basis. ``` ## **`Donations and legacies`** ``` Voluntaryincomingresourcesareaccountedforasandwhenentitlementarises,theamountcanbe reliably quantified and the economic benefit to the College is considered probable. ``` ``` Voluntaryincome for the College'sgeneralpurposesis accountedfor as unrestrictedand is creditedto general reserves.Wherethe donoror an appealhas imposedrestrictions,voluntaryincomeis creditedto the relevant restrictedfund. Gifts in kind are valued at an estimatedopen market value at the date of the gift, in the case of asses for retention or consumption, or at the value to the College in the case of donated services or facilities. ``` ## **`Government grants`** ``` GovernmentgrantsundertheCoronavirusJobRetentionSchemehavebeenreceived.Theincomeis shown underotherincome-CoronavirusJRSgrant,andiscreditedtothestatementoffinancialactivitieswhenit is receivable. ``` ## **`Expenditure`** ``` Expenditureis accruedas soon as a liabilityis consideredprobable.Expenditureattributableto more than one costcategoryontheStatementofFinancialActivitiesisapportionedtothemonthebasisofthe estimated amountattributabletoeachactivityintheyear,eitherbyreferencetostafftimeortheusemadeof the underlyingassets,asappropriate.IrrecoverableVATisincludedwiththeitemofexpendituretowhich it relates. ``` ``` Supportcostsarethosethatassisttheworkofthecharitybutdonotdirectlyrepresentcharitable activities and includeoffice costs, governancecosts, administrativepayrollcosts. They are incurreddirectlyin support of expenditureontheobjectsofthecharity.Wheresupportcostscannotbedirectlyattributedto particular headingstheyhavebeenallocatedtocostofraisingfundsandexpenditureoncharitableactivitiesona basis consistent with use of the resources. ``` ``` Governance costs comprise the costs of complying with constitutional and statutory requirements. ``` ``` -25- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`2. ACCOUNTING POLICIES - continued`** ## **`Tangible fixed assets`** ``` Tangiblefixedassetsarestatedatcost(ordeemedcost)orvaluationlessaccumulateddepreciation and accumulatedimpairmentlosses.Costincludescostsdirectlyattributabletomakingtheassetcapable of operating as intended. ``` ``` Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful life. ``` ``` Freehold property - 2% on cost ``` ``` Improvements to property - 6.67% on cost (10% for astroturf carpet) ``` ``` Furniture, equipment and vehicles - 33 1/3% on cost, 20% on cost and 12.5% on cost ``` - `1) For the purpose of the schedule included in these financial statements, fixed assets in the category of furniture, equipment and vehicles which are greater than ten years old are deemed to be fully depreciated. The costs and depreciation are therefore excluded from the schedule.` ``` 2)Freehold property is depreciated over an estimated useful life of 50 years. However, as the residual value of the freehold property exceeds the carrying amount shown in the financial statements no depreciation charge has been provided. ``` - `3) Refurbishment projects on properties over and above general maintenance and repairs are capitalised as "Improvements". This is then written off over a 10 or 15 year period as appropriate in accordance with the depreciation accounting policy.` ## **`Heritage assets`** ``` Heritageassetsarerecognisedonthebalancesheetandinitiallymeasuredatcostwhenpurchasedor if donated,theirvaluation.Assetsaresubsequentlystatedatcostorvaluationlessaccumulated depreciation andaccumulatedimpairmentlosses.Fairvaluesfordonatedassetsareestimatedbyreferenceto market prices. ``` ``` Whereinformationonthecostorvaluationofheritageassetsisnotavailableorthecostofproviding such informationsignificantlyoutweighsanybenefittotheusersoftheaccountsthenheritageassetsare not recognised on the balance sheet. ``` ``` Acquisitionsonlyarisewhendonatedtothecharityorifitisbelievedthattheywillfurtherthe charity's objectives.Onceacquiredtheywillbepreservedbythecharityinordertokeeptheirhistorical, artistic, scientific,technological,geophysicalorenvironmentalqualitiestosuchahighlevelastocontribute to knowledgeandculture.Aregisterofallassetsheldbythecharityisavailableandtheassetsthemselves are accessible to the public with prior agreement. Heritage assets are to be held for the foreseeable future. ``` ## **`Stocks`** ``` Stocksare statedat the lower of cost and estimatedsellingprice less costs to completeand sell.Cost includes all costsof purchase,costsof conversionandothercostsincurredin bringingstockto its presentlocation and condition.Cost is calculatedusingthe first-in,first-outformula.Provisionis made for damaged,obsolete and slow-moving stock where appropriate. ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ``` -26- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`2. ACCOUNTING POLICIES - continued`** ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ``` -27- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Debtors and creditors receivable/ payable within one year`** ``` Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities in support costs and governance. ``` ## **`Loans and borrowings`** ``` Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. ``` ## **`Pension Costs`** ``` RetirementbenefitstoemployeesoftheCollegeareprovidedthroughtwodefinedcontribution pension schemes. ``` - `(a) The Teachers' Pension Scheme - This scheme is a multi-employer pension scheme. It is not possible to identify the College's share of the underlying assets and liabilities of the Teachers' Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The College's contributions, which are in accordance with the recommendation of the Government Actuary, are charged in the period in which the salaries to which they are payable.` - `(b) Non- Teaching Staff Scheme - This is a defined contribution pension scheme. Employer's pensions costs are charged in the period in which the salaries to which they relate are payable.` ## **`Investments`** ``` Listed investments are valued at market value at the balance sheet date. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities and are allocated to the appropriate Fund according to the "ownership" of the underlying assets. ``` ## **`Bad debts`** ``` Provision is made on specific bad debts identified on regular review. Subsequent recoveries are written back against the provision. ``` ## **`Leased assets`** ``` Rentals payable under operating leases are charged on a time basis over the lease term. ``` ## **`Cash and cash equivalents`** ``` Cashandcashequivalentsincludedcashinhand,depositsheldatcallwithbanksanddepositsin trading accounts held by investment managers. ``` ## **`Significant judgements and estimates`** ``` In the applicationof the Charity'saccountingpolicies,the trustees are requiredto make judgements, estimates andassumptionsaboutthecarryingamountofassetsandliabilitiesthatarenotreadilyapparentfrom other sources.Theestimatesandassociatedjudgementsarebasedonhistoricalexperienceandotherfactors that are considered to be relevant. Actual results may differ from these estimates. ``` ``` Thetrusteesdonotconsideranyofthesejudgementsorestimationstohaveanysignificanteffecton the financial statements. ``` ``` -28- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`3. DONATIONS AND LEGACIES`** |||||`Period`| |---|---|---|---|---| ||||**`Year`**|`1/7/18`| ||||**`ended`**|`to`| |**`Unrestricted`**||**`Restricted`**|**`31/8/20`**|`30/6/19`| ||**`£`**|**`£`**|**`£`**|`£`| |**`Donations-`**||||| |||||| |**`Dover College Trust`**|**`-`**|**`102,815`**|**`102,815`**|`367,607`| |**`Old Dovorian Trust`**|**`-`**|**`6,500`**|**`6,500`**|`22,000`| |**`The Friends of`**||||| |**`Dover College`**|**`-`**|**`23,620`**|**`23,620`**|`-`| |**`Other Donations`**|**`2,615`**|**`40,117`**|**`42,732`**|`6,044`| |||||| |||||| ||**`2,615`**|**`173,052`**|**`175,667`**|`395,651`| |||||| ## **`4. OTHER TRADING ACTIVITIES`** ||`Period`|`Period`| |---|---|---| ||**`Year`**
`1/7/18`|| ||**`ended`**
`to`|| ||**`31/8/19`**
`30/6/19`|| ||**`£`**
|`£`| |`Turnover`|**`5,184`**|`19,447`| |`Cost of sales`|**`(3,323)`**|`(9,782)`| |||| |`Gross profit`|**`1,861`**|`9,665`| |`Administration`|**`(3,219)`**|`(6,285)`| |||| |`Net (deficit)/surplus`|**`(1,358)`**|`3,380`| |||| |**`INVESTMENT INCOME`**
**`Year Ended`**
**`31.8.20`**
**`£`**
`Investment income`
**`-`**
`Bank interest received`
**`2,702`**
**`2,702`**||`Period`
`1.7.18`
`to`
`31.8.19`
`£`
`12,135`
`1,455`
`13,590`| ## **`5. INVESTMENT INCOME`** ``` -29- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED`** ## **`FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`6. INCOME FROM CHARITABLE ACTIVITIES`** |||`Period`| |---|---|---| ||**`Year`**|`1/7/18`| ||**`ended`**|`to`| ||**`31/8/20`**|`31/8/19`| ||**`£`**|`£`| |**`(a) Fees receivable consist of`** `:`||| |`School fees`|**`5,319,258`**|`5,592,093`| |||| |`Less: total scholarships and bursaries`|**`(765,157)`**|`(645,654)`| |||| |||| ||**`4,554,101`**|`4,946,439`| |||| |||| |`Add back: Bursaries and other awards paid for by restricted funds received from`
`Dover College Trust & Dover College Scholarship and Prize Fund`|**`129,908`**|`-`| |||| ||**`4,684,009`**|`4,946,439`| |||| |**`(b) Ancillary trading income`**||| |||| |||`Period`| ||**`Year`**|`1/17/18`| ||**`ended`**|`to`| ||**`31/8/20`**|`30/8/19`| ||**`£`**|`£`| |||| |`Letting income (educational)`|**`11,981`**|`146,281`| |`Registration fees`|**`9,787`**|`16,149`| |`School bus service`|**`31,956`**|`46,535`| |||| ||**`53,724`**|`208,965`| |||| |||| ## **`7. OTHER INCOME`** |**`Year Ended`**
**`31.8.20`**
**`£`**
`Gain on sale of tangible fixed assets`
**`-`**
`Interest on overdue accounts`
**`8,240`**
`Sundry income`
**`22,145`**
`Coronavirus JRS grant`
**`500,962`**
**`531,347`**|`Period`
`1.7.18`
`to`
`31.8.19`
`£`
`45,082`
`10,215`
`34,747`
`-`| |---|---| ||`90,044`| ``` -30- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED`** ## **`FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`8. ANALYSIS OF EXPENDITURE`** |**`(a) Total Expenditure`**|**`Staff Costs`**|**`Depreciat-`**
**`Other`**
**`ion`**|**`Depreciat-`**
**`Other`**
**`ion`**|**`Total`**|`2019`| |---|---|---|---|---|---| ||**`£`**|**`£`**|**`£`**|**`£`**|**`£`**| |**`Cost of generating funds:`**|||||| |`Financing costs (see note d)`|`-`|`177,997`|`-`|`177,997`|`52,181`| |`Costs of generating othereducational`
`income`|`-`|`42,610`|`-`|`42,610`|`83,662`| ||||||| ||`-`|`220,607`|`-`|`220,607`|`135,843`| |`Trading costs`|`3,219`|`3,323`|`-`|`6,542`|`16,067`| ||||||| ||`3,219`|`223,930`|`-`|`227,149`|`151,910`| ||||||| |`Charitable activities:`|||||| |`Teaching`|`2,566,746`|`127,859`|`103,086`|`2,797,691`|`2,953,554`| |`Welfare`|`444,821`|`141,487`|`-`|`586,308`|`747,664`| |`Premises`|`209,899`|`332,100`|`120,967`|`662,966`|`1,005,220`| |`Support costs of schooling (see note c)`|`507,983`|`444,271`|`-`|`952,254`|`1,082,680`| |`Grants, awards and prizes`|`-`|`129,908`|`-`|`129,908`|`-`| ||||||| ||`3,729,449`|`1,175,625`|`224,053`|`5,129,127`|`5,789,118`| ||||||| |`Total resources expended`|`3,732,668`|`1,399,555`|`224,053`|`5,356,276`|`5,941,028`| ||||||| ## **`(b) Grants, awards and prizes`** |||`Period`| |---|---|---| |`From restricted funds:`|**`Year`**|`1/7/18`| ||**`ended`**|`to`| ||**`31/8/20`**|`30/6/19`| ||**`£`**|`£`| |||| |`Bursaries, grants and allowances`|**`129,908`**|`-`| |||| |||| |**`(c) Governance included in support costs:`**||| |||| |`Remuneration paid to auditor for audit services`|**`12,300`**|`13,500`| |`Remuneration paid to auditor for non audit services`|**`4,134`**|`9,500`| |`Other governance costs`|**`14,717`**|`16,058`| |||| ||**`31,151`**|`39,058`| |||| |||| |**`(d) Finance Costs`**||| |||| |`Bad Debts`|**`161,321`**|`35,000`| |`Bank charges and management fees`|**`4,603`**|`10,764`| |`Interest payable and similar charges`|**`10,667`**|`6,417`| |`HMRC late payment interest`|**`1,406`**|`-`| |||| ||**`177,997`**|`52,181`| |||| ``` -31- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`9. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stAugust2020norfor the period ended 31st August 2019. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31stAugust2020norfortheperiod ended 31st August 2019 . ``` ## **`10. STAFF COSTS`** ## **`Total staff costs comprised:`** |**`Total staff costs comprised:`**||| |---|---|---| |||`Period`| |||`1/7/18`| ||**`Year ended`**|`to`| ||**`31/8/20`**|`31/8/19`| ||**`£`**|`£`| |`Wages and salaries`|`3,030,089`|`3,290,320`| |`Social security costs`|`272,750`|`322,029`| |`Pension contributions - Teaching`|`378,612`|`355,435`| |`Pension contributions - Non Teaching`|`51,217`|`49,674`| |||| ||`3,732,668`|`4,017,458`| |||| ``` Theaveragenumberofemployees(full-timeandpart-timecombined)intheperiodwas140(2019-157) of which 61 (2019 - 66) were teaching/academic staff. ``` ## **`Higher paid employees:`** |**`Higher paid employees:`**||| |---|---|---| |||`Period`| ||**`Year`**|`1/7/18`| ||**`ended`**|`to`| ||**`31/8/20`**|`30/8/19`| |`Taxable Emoluments Band:`||| |||| |`£60,001 - £70,000`|`1`|`2`| |`£90,001 - £100,000`|`1`|`-`| |`£100,001 - £110,000`|`-`|`1`| |||| |`Total key management personnel remuneration benefits excluding employer National Insurance`
`Contributions and employer pension contributions were £159,502 (2019 £171,397).`||| |||| |||| |||| |||| |||| ``` -32- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`Unrestricted`**
**`funds`**
**`£`**
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`2,545`**
**`Charitable activities`**
`Fees Receivable`
**`4,946,439`**
`Ancillary trading income`
**`208,965`**
`Other trading activities`
**`19,447`**
`Investment income`
**`13,590`**
`Other income`
**`90,044`**
**`Total`**
**`5,281,030`**
**`EXPENDITURE ON`**
`Raising funds`
**`145,493`**
**`Charitable activities`**
`Teaching`
**`2,953,554`**
`Welfare`
**`747,664`**
`Premises`
**`965,220`**
`Support Costs and governance`
**`1,079,119`**
**`Total`**
**`5,891,050`**
**`Net gains/(losses) on investments`**
**`14,547`**
**`NET INCOME/(EXPENDITURE)`**
**`(595,473)`**
**`Transfers between funds`**
**`419,554`**
**`Net movement in funds`**
**`(175,919)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`2,422,661`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`2,246,742`**|**`Restricted`**
**`funds`**
**`£`**
**`393,106`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`393,106`**
**`6,417`**
**`-`**
**`-`**
**`40,000`**
**`3,561`**
**`49,978`**
**`-`**
**`343,128`**
**`(419,554)`**
**`(76,426)`**
**`185,367`**
**`108,941`**|`Total`
`funds`
`£`
`395,651`
`4,946,439`
`208,965`
`19,447`
`13,590`
`90,044`
`5,674,136`
`151,910`
`2,953,554`
`747,664`
`1,005,220`
`1,082,680`
`5,941,028`
`14,547`
`(252,345)`
`-`
`(252,345)`
`2,608,028`
`2,355,683`| |---|---|---| ``` -33- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`12. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1st September 2019`
`Additions`
`Disposals`
`At 31st August 2020`
**`DEPRECIATION`**
`At 1st September 2019`
`Charge for year`
`Eliminated on disposal`
`At 31st August 2020`
**`NET BOOK VALUE`**
`At 31st August 2020`
`At 31st August 2019`|**`Furniture,`**
**`Freehold Improvements`**
**`I.C.T. centre`**
**`equipment`**
**`property`**
**`to property`**
**`building`**
**`and vehicles`**
**`£`**
**`£`**
**`£`**
**`£`**
**`1,598,844`**
**`3,208,608`**
**`84,044`**
**`1,247,735`**
**`-`**
**`562,872`**
**`-`**
**`41,570`**
**`-`**
**`-`**
**`-`**
**`(140,451)`**
**`1,598,844`**
**`3,771,480`**
**`84,044`**
**`1,148,854`**
**`-`**
**`2,159,088`**
**`84,044`**
**`928,911`**
**`-`**
**`120,967`**
**`-`**
**`103,086`**
**`-`**
**`-`**
**`-`**
**`(140,451)`**
**`-`**
**`2,280,055`**
**`84,044`**
**`891,546`**
**`1,598,844`**
**`1,491,425`**
**`-`**
**`257,308`**
`1,598,844`
`1,049,520`
`-`
`318,824`|**`Totals`**
**`£`**
**`6,139,231`**
**`604,442`**
**`(140,451)`**| |---|---|---| |||**`6,603,222`**| |||**`3,172,043`**
**`224,053`**
**`(140,451)`**| |||**`3,255,645`**| |||**`3,347,577`**| |||`2,967,188`| ## **`Heritage Assets (College Treasures)`** ``` InadditiontothecapitalisedfixedassetsheldfortheCharity's'ownuse,theCollegealsohasseveral assets which act as a permanent record of the College's history. These comprise of a unique collection of paintings, depictingtheCollege'sHeadsovertheyears,togetherwithmanyotherartefactswhoseintrinsicvalueis also boundup with the College'shistory.Most of these are irreplaceableoriginalsto which no reliablevalue can be attributedandaccordinglythesehavenotbeencapitalisedintheaccounts.TheGovernorstaketheview that disclosureof these assets would prejudicethe efficientworkingof the Charity,and have thereforedecided that such details should not be provided here. ``` ## **`13. STOCKS`** ## **`14.`** |`Stocks`
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`|**`2020`**
**`£`**
**`-`**
**`2020`**
**`£`**
**`66,495`**
**`133,898`**
**`200,393`**|`2019`
`£`
`3,771`
`2019`
`£`
`159,133`
`152,535`|`2019`
`£`
`3,771`| |---|---|---|---| |||`311,668`|| ``` -34- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Fees received in advance`
`Trade creditors`
`Taxation and social security`
`Other creditors`
**`16.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Other creditors`|**`2020`**
**`£`**
**`1,055,526`**
**`52,064`**
**`242,143`**
**`495,379`**
**`1,845,112`**
**`2020`**
**`£`**
**`1,099,804`**|`2019`
`£`
`1,242,898`
`53,451`
`68,909`
`539,751`| |---|---|---| |||`1,905,009`| |||`2019`
`£`
`281,955`| ## **`Deferred Income`** ``` Undercertaincircumstances,thecontractwithparentsprovidesforthepaymentofanadditionalterm's fees in advance(beyondthe currentterm) to ensure the fees payablein lieu of noticecan be collected.These sums are normally applied in satisfaction of the final term's fees when leaving the College. ``` ## **`17. LOANS`** ``` An analysis of the maturity of loans is given below: ``` |`Amounts falling due between two and five years:`
`Other loans - 2-5 years`
`Loan from Dover College Trust`
`Amounts falling due in more than five years:`
`Repayable by instalments:`
`Other loans more 5yrs instal`
`Repayable otherwise then by instalments:`
`Loan from Dover College Trust`|**`2020`**
**`£`**
**`559,996`**
**`-`**
**`559,996`**
**`140,004`**
**`300,000`**|`2019`
`£`
`-`
`-`| |---|---|---| |||`-`| |||`-`| |||`100,000`| ``` -35- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`18. LEASING AGREEMENTS`** ``` Minimum lease payments under non-cancellable operating leases fall due as follows: ``` |`Within one year`
`Between one and five years`|**`2020`**
**`£`**
**`52,964`**
**`91,636`**
**`144,600`**|`2019`
`£`
`49,897`
`124,417`| |---|---|---| |||`174,314`| ``` Lease payments made in the year and recognised as an expense totalled £48,036 (2019 £56,037). ``` ## **`19. SECURED DEBTS`** ``` The following secured debts are included within creditors: ``` |`Other loans`
`Dover College Trust Loan`|**`2020`**
**`£`**
**`700,000`**
**`300,000`**
**`1,000,000`**|`2019`
`£`
`-`
`100,000`| |---|---|---| |||`100,000`| ## **`Loans`** ``` TheloanfromtheDoverCollegeTrustissecuredbyaLegalChargeoveroneofthefreeholdproperties, with the condition that if the property is sold, then the loan must be repaid in full within two weeks of completion. Otherwise,theloanistoberepaidinfullafter20yearsfromthedateoftheloan.Interestistobe paid annually in arrears at a rate of 4%. ``` ``` Includedin otherloansis the CoronavirusBusinessInterruptionLoan,whichis backedby the UK Government, who have guaranteed 80% of the loan balance directly with the lender. ``` ``` -36- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED`** ## **`FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`20. MOVEMENT IN FUNDS`** |**`Unrestricted funds`**
`General fund`
`Dover College Foundation`
**`Restricted funds`**
`Fives court`
`Leamington lecture theatre`
`Lecture theatre seating`
`Music school`
`Other restricted funds`
`Cobb Centre`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are`
**`Unrestricted funds`**
`General fund`
`Dover College Foundation`
**`Restricted funds`**
`Other restricted funds`
**`TOTAL FUNDS`**|**`Net`**
**`movement in`**
**`At 1.9.19`**
**`funds`**
**`£`**
**`£`**
**`1,760,825`**
**`71,290`**
**`485,917`**
**`(354)`**
**`2,246,742`**
**`70,936`**
**`2,200`**
**`-`**
**`9,217`**
**`-`**
**`10,669`**
**`-`**
**`61,200`**
**`-`**
**`1,235`**
**`25,421`**
**`24,420`**
**`-`**
**`108,941`**
**`25,421`**
**`2,355,683`**
**`96,357`**
`as follows:`
**`Incoming`**
**`resources`**
**`£`**
**`5,278,457`**
**`1,124`**
**`5,279,581`**
**`173,052`**
**`5,452,633`**|**`Transfers`**
**`between`**
**`funds`**
**`At 31.8.20`**
**`£`**
**`£`**
**`508,625`**
**`2,340,740`**
**`(485,563)`**
**`-`**
**`23,062`**
**`2,340,740`**
**`(1,100)`**
**`1,100`**
**`(3,072)`**
**`6,145`**
**`(1,333)`**
**`9,336`**
**`(10,200)`**
**`51,000`**
**`(7,357)`**
**`19,299`**
**`-`**
**`24,420`**
**`(23,062)`**
**`111,300`**
**`-`**
**`2,452,040`**
**`Resources`**
**`Movement in`**
**`expended`**
**`funds`**
**`£`**
**`£`**
**`(5,207,167)`**
**`71,290`**
**`(1,478)`**
**`(354)`**
**`(5,208,645)`**
**`70,936`**
**`(147,631)`**
**`25,421`**
**`(5,356,276)`**
**`96,357`**| |---|---|---| ``` -37- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`20. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |**`Net`**
**`movement in`**
**`At 1.7.18`**
**`funds`**
**`£`**
**`£`**
**`Unrestricted Funds`**
`General fund`
**`1,960,084`**
**`(618,813)`**
`Dover College Foundation`
**`462,577`**
**`23,340`**
**`2,422,661`**
**`(595,473)`**
**`Restricted Funds`**
`Fives court`
**`3,300`**
**`-`**
`Leamington lecture theatre`
**`12,289`**
**`-`**
`Lecture theatre seating`
**`12,002`**
**`-`**
`Music school`
**`71,400`**
**`-`**
`Other restricted funds`
**`7,056`**
**`53,211`**
`Cobb Centre`
**`35,820`**
**`-`**
`Kent Block`
**`23,500`**
**`309,917`**
`Old Dovorian Chapel`
**`20,000`**
**`(20,000)`**
**`185,367`**
**`343,128`**
**`TOTAL FUNDS`**
**`2,608,028`**
**`(252,345)`**
`Comparative net movement in funds, included in the above are as follows:`
**`Incoming`**
**`Resources`**
**`resources`**
**`expended`**
**`£`**
**`£`**
**`Unrestricted funds`**
`General fund`
**`5,268,753`**
**`(5,887,566)`**
`Dover College Foundation`
**`12,277`**
**`(3,484)`**
**`5,281,030`**
**`(5,891,050)`**
**`Restricted funds`**
`Other restricted funds`
**`63,189`**
**`(9,978)`**
`Kent Block`
**`309,917`**
**`-`**
`Old Dovorian Chapel`
**`20,000`**
**`(40,000)`**
**`393,106`**
**`(49,978)`**
**`TOTAL FUNDS`**
**`5,674,136`**
**`(5,941,028)`**|**`Transfers`**
**`between`**
**`funds`**
**`At 31.8.19`**
**`£`**
**`£`**
**`419,554`**
**`1,760,825`**
**`-`**
**`485,917`**
**`419,554`**
**`2,246,742`**
**`(1,100)`**
**`2,200`**
**`(3,072)`**
**`9,217`**
**`(1,333)`**
**`10,669`**
**`(10,200)`**
**`61,200`**
**`(59,032)`**
**`1,235`**
**`(11,400)`**
**`24,420`**
**`(333,417)`**
**`-`**
**`-`**
**`-`**
**`(419,554)`**
**`108,941`**
**`-`**
**`2,355,683`**
**`Gains and`**
`Movement in`
**`losses`**
`funds`
**`£`**
`£`
**`-`**
**`(618,813)`**
**`14,547`**
**`23,340`**
**`14,547`**
**`(595,473)`**
**`-`**
**`53,211`**
**`-`**
**`309,917`**
**`-`**
**`(20,000)`**
**`-`**
**`343,128`**
**`14,547`**
**`(252,345)`**| |---|---| ``` -38- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`20. MOVEMENT IN FUNDS - continued`** ## **`Restricted Funds:`** ``` Individual funds represent fixed asset additions financed by donations for their specific purpose. Theannualdepreciationchargerelatingtothesefixedassetsistransferredfromthegeneralfund,and offset against the balance carried forward in restricted funds. ``` ``` The CobbCentrerepresentsdonationsreceivedfor a specifiedproject.The projectfor the CobbCentrewas in progressattheyearendandthebalanceofunspentfundswillbecarriedforwardandoffsetagainst future expenditure. ``` ``` Other restrictedfunds representgifts received from externaldonorsfor specificpurposes.Expenditure directly financed by such gifts is shown under restricted funds. ``` ## **`Unrestricted Funds:`** ``` ThegeneralfundrepresentsaccumulatedincomefromtheCollege'sactivitiesandothersourcesthat are available for the general purposes of the College. ``` ``` Dover College Foundation - please see note 23. ``` ## **`21. RELATED PARTY DISCLOSURES`** ``` MrGDoodes,Headmaster,paidschoolfeesfortheyeartotalling£5,113(2019£4,978).Attheyearend £nil (2019 £nil) was outstanding. Mr G Doodes received a discount on the school fees paid. ``` ``` Dr C Scholfield-Myers,ParentGovernor,paidschoolfees fortheyeartotalling£16,278(2019£16,050).At the yearend£nil(2018£nil)wasoutstanding.NodiscountwasreceivedontheschoolfeespaidbyDr C Scholfield-Myers. ``` ``` Contributionstowardsthefeesamountingto£26,550(2019£16,050)foreligiblepupilsweremadeby the charity,theDoverCollegeScholarshipandPrizeFund.SeveraloftheTrusteesofDoverCollegeare also Trustees of this charity.Theobjectivesof this charityare to furtherthe educationof the pupilsattending Dover College. ``` ## **`22. POST BALANCE SHEET EVENTS`** ``` The freeholdpropertyonwhichtheloanof £300,000fromThe DoverCollegeTrustis securedwas puton the marketforsalefollowingtheyearend.Aspertheloanagreement,ifthepropertyissold,theloanisto be repaidinfullwithintwoweeksofcompletion.TheloanfromDoverCollegeTrustmaythereforebe repaid within one year. ``` ``` -39- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`23. NET ASSETS OF THE FUNDS OF THE CHARITY`** |**`Net Current`**
**`Assets /`**
`Net assets belong to the various funds as`
**`(CurrentLiabili )`**
`follows:`
**`Fixed Assets`**
**`ties`**|**`Net Current`**
**`Assets /`**
`Net assets belong to the various funds as`
**`(CurrentLiabili )`**
`follows:`
**`Fixed Assets`**
**`ties`**|**`Net Current`**
**`Assets /`**
`Net assets belong to the various funds as`
**`(CurrentLiabili )`**
`follows:`
**`Fixed Assets`**
**`ties`**|**`Long-term`**
**`Liabilities`**
**`Fund Balance`**|**`Long-term`**
**`Liabilities`**
**`Fund Balance`**| |---|---|---|---|---| ||`£`|`£`|`£`|`£`| |**`Restricted funds`**|`67,581`|`43,719`|`-`|`111,300`| |||||| |**`Unrestricted funds`**||||| |`Designated funds:`||||| |||||| |`Dover College Foundation`|`-`|`-`|`-`|`-`| |||||| |`Other unrestricted funds:`||||| |`General reserve`|`3,279,996`|`160,548`|`(1,099,804)`|`2,340,740`| |||||| ||`3,347,577`|`204,267`|`(1,099,804)`|`2,452,040`| |||||| |||||| ``` -40- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ``` NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST AUGUST 2020 ``` ## **`24. THE DOVER COLLEGE FOUNDATION`** ``` TheDoverCollegeFoundationisacombinedoperationbyTheCorporationofDoverCollegeandthe Dover CollegeTrust(whichisaseparateregisteredcharity)toprovidefundsformajorcapitalprojects.The funds allocatedout of unrestrictedincomeof the Collegeare classifiedas 'Designated',but not restricted.Sums held as'DesignatedFunds'fortheFoundationintheDoverCollegeTrustbecomeFoundationRestrictedFunds at the point when they are paid by the Trust to the College for a specific project. ``` ``` ThesummarybelowshowstheFoundationfundswithinDoverCollegewhicharepartofthefundsshown in the SOFA on Page 12 and the movements in the funds in Note 19. The Foundation funds designated and heldbytheDoverCollegeTrustareconsolidatedintothissummaryinordertoprovideanoverviewof the scope of the Foundation. ``` |**`The Corporation`**
**`Combined`**
`Fund balances at 31st August 2020`
**`of Dover College`**
**`Dover College Trust`**
**`Foundation`**
`are as follows:`
**`Designated Funds`**
**`Designated Funds`**
**`Funds`**|**`The Corporation`**
**`Combined`**
`Fund balances at 31st August 2020`
**`of Dover College`**
**`Dover College Trust`**
**`Foundation`**
`are as follows:`
**`Designated Funds`**
**`Designated Funds`**
**`Funds`**|**`The Corporation`**
**`Combined`**
`Fund balances at 31st August 2020`
**`of Dover College`**
**`Dover College Trust`**
**`Foundation`**
`are as follows:`
**`Designated Funds`**
**`Designated Funds`**
**`Funds`**|**`The Corporation`**
**`Combined`**
`Fund balances at 31st August 2020`
**`of Dover College`**
**`Dover College Trust`**
**`Foundation`**
`are as follows:`
**`Designated Funds`**
**`Designated Funds`**
**`Funds`**| |---|---|---|---| |`Balance brought forward`|**`£`**|**`£`**
**`£`**|| |`1st September 2019`|`485,917`|`132,372`
`618,289`|| |`Donations and interest received`|`-`|`-`
`-`|| |`Allocation from unrestricted funds`
`surplus for the year`|`-`|`-`
`-`|| |`Distributions to Dover College`|`(485,563)`|`(137,918)`
`(623,481)`|| |`Dividends and interest thereon`|`1,124`|`728`
`1,852`|| |`Less: Share of management fees`|`(1,478)`|`(622)`
`(2,100)`|| |`Realised surpluses/(losses) on`
`investments`|`-`|`5,440`|`5,440`| |`Unrealised surpluses on investments`|`-`|`-`|`-`| ||||| |`Foundation funds at 31st August 2020`|`-`|`-`|`-`| ||||| ||||| ## **`25. PENSION SCHEMES`** ``` The College participatesin the Teachers'PensionScheme (Englandand Wales) ("the TPS") for its teaching staff. The pensionchargefor the year includescontributionspayableto the TPS of £295,651(2019 £355,435)and at the year-end £nil (2019 £40,832) was accrued in respect of contributions to this scheme. ``` ``` During the year, following consultation with the teachers, the College left the Teachers' Pension Scheme. The teachers entered in to a new pension scheme after leaving the Teachers' Pension Scheme. Theschool'scontributionstothenewschemewere£82,961(2019£nil).Atthebalancesheet date contributions totalling £32,008 (2019 £nil) were outstanding. ``` ``` Total contributions to all schemes in respect of teachers were £378,612 (2019 £355,435). At the balance sheet date contributions totalling £32,008 (2019 £40,832) were outstanding. ``` ``` Regardingthe Non-Teachingpension,the cost for the year representsthe school'scontributionsto the scheme of£51,217(2019£49,674).Atthebalancesheetdatecontributionstotalling£6,652(2019£6,333) were outstanding. ``` ``` -41- ``` ``` THE CORPORATION OF DOVER COLLEGE ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED`** ## **`FOR THE YEAR ENDED 31ST AUGUST 2020`** ## **`26. FINANCIAL INSTRUMENTS`** ||**`31/8/20`**|`31/8/19`| |---|---|---| ||**`£`**|`£`| |**`Carrying amount of financial assets`**||| |`Debt instruments measured at amortised cost`|**`149,557`**|`268,134`| |`Instruments measured at fair value through surplus`|**`-`**|`485,917`| |**`Carrying amount of financial liabilities`**||| |`Measured at amortised cost`|**`1,889,390`**|`944,065`| ``` -42- ```