Wycliffe College
(Incorporated Limited by Guarantee)
Report and
Financial Statements
Year Ended
31 August 2024
Registered company number: 00255632
Registered charity number: 311714

Wycliffe College (Incorporated)
Report and financial statements
for the year ended 31 August 2024
Contents
Page
Council of Trustees, Officers, Registered Office and Advisers
Annual Report by the Council of Trustees
3-13
Independent Auditor's report
14-16
Consolidated Statement of Financial Activities for the Year ended 31 August 2024
17-18
Consolidated Statement of Financial Activities for the Year ended 31 August 2023
19-20
Balance Sheet
21
Consolidated Cash Flow Statement
22
Notes to the Financial Statements
23-47

Wycliffe College (Incorporated)
Council of Trustees, Officers, Registered office and advisors
for the year ended 31 August 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
COUNCIL OF TRUSTEES
Trustees are ultimately elected by the Members of the College to be its Trustees and also the Directors of the
charity. Those who served during the year are..
Chair:
Mr S F M Lloyd Bsc (Hons) Est Man, MRICS (1,3,4)
Vice Chairs..
Mrs C J Duckworth MA {Honsl {4,6)
Mr W R Garrard MBA, Bsc {Honsl {1,3,4}
Mrs E A Buckley Bsc (Hons) (61
Major General R M Clements CBE (5,41
Mrs L C Duncan BSC, PGCE (21
Mr L Faulkner MA (Hons), PGCE, MA (Oxon) (2)
Mr J O Fullman BEng (Hons}, FBCS {31
Dr L J Hair, PhD, BA (Hons)16)
Miss A L Kerr BA (Hons) {5}
Mr J C C May OBE DL, MA (Hons), PGCE, BA {2,4)
Mr A A Opaleye BChD LDS RCS (Eng) FDS RCS {Edin) {5}
Mrs A L Palk MBE, BA (Hons) (6) (retired on 30 October 2023)
Mr J D C Pitt BA (Hons), PGCE, MA (Cantab) (2)
Mr J Slater FRICS (3,6)
(1)
(2)
(3)
Members of the Finance Committee
Members of the Education Committee
Members of the Estates Committee
{4} Members of the Governance Committee
{5} Members of the Marketing Committee
(6} Members of the Welfare Committee
Trustees are elected by the Members, with one third being re-elected each year.
PRESIDENT AND VICE PRESIDENTS
The Members may appoint a President and up to 3 Vice Presidents.
President..
Vice Presidents..
Brigadier (Retd) R J Bacon. MBA, Chartered FCIPD, FCMI, CMILT
Mr J C H Pritchard, Dipm
Mr J R E Williams, FCA (retired 6 July 2024)
OFFICERS
College:
The Head:
Mr N J Gregory BA, M.Ed {resigned 31 August 20241
Mr C A San José MA (Oxon) (appointed 1 September 2024)
Mrs C M Pettingell BSC, M.Ed
Senior Deputy Head..

Wycliffe College (Incorporated)
Council of Trustees, Officers, Registered office and advisors
for the year ended 31 August 2024 (continued)
OFFICERS (continued)
Prep School:
The Head:
Senior Deputy Head:
Mrs H M Grant BEd (Hons)
Mr R D Irwin Bcs {Hons), PGCE {resigned 31 August 2024)
Mr R A Lee BA (Hons), PGCE (appointed 1 September 2024)
Director of Finance & Operations
and Company Secretary:
Mr L B Godley {appointed 21 August 2024)
Mr A R Taylor {resigned 21 August 2024)
Clerk to the Trustees:
Mr L B Godley
REGISTERED OFFICE..
Finance Department
Wycliffe College (Incorporated)
Regent Street
stonehouse
Gloucestershire
GL10 2AD
ADVISERS
Bankers
Lloyds Bank Commercial
Education Support Team
3rd Floor
Queen Square
Wolverhampton
VW11TF
Solicitors
Harrison Clark Rickerbys
Ellenborough House
Wellington Street
Cheltenham
Gloucestershire
GL50 1YD
Auditor
Hazlewoods
Staverton Court
Staverton
Cheltenham
Gloucestershire
GL51 OUX
Insurance Brokers
Marsh Brokers Limited
Education Practice, Capital House,
1-5 Perrymount Road
Haywards Heath
West Sussex
RH16 3SY
Investment managers
Paradigm Norton Financial Planning Ltd
Paradigm House
Macrae Road
Ham Green
Bristol
BS20 ODD

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
The Council of Trustees ('the Council,) of Wycliffe College Ilncorporated) presents their Annual Reporl for the year
ended 31st August 2024 under the Companies Act 2006 and the Charities Act 2011, together with the audited
accounts for the year and confirm that, the latter comply with the requirements of the Act, the Trust Deed and the
Charities SORP 2019.
The Charity was founded in 1882 and is registered with the Charity Commission under charity number 311714.
The Council, Officers of the College and registered office of the Charity are as listed on pages 1 and 2. Particulars
of the Charity's professional advisers are given on page 2.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Documents
The Charity is governed by its Articles of Association adopted by Special Resolution on 9th September 2006, as
amended by Special Resolutions on 7th June 2011 and 25th March 2014.
Governing Body
The Charity has a single Governing Body for its two schools, Wycliffe Senior School and Wycliffe Prep School.
The governance structure comprises Members of the Charity, of unlimited numbers, and a Council of between 8
and 15 Trustees with the power to delegate to a number of functional sub-committees or working parties. As of
31st August 2024, the Council consisted of 14 Trustees and there were 41 Members.
Recruitment and Training of Trustees
The College's Governance Manual contains the Trustee Recruitment and Induction Policy, Roles and
Responsibilities and Code of Conduct for a Trustee at Wycliffe. The Role of the Clerk to the Trustees sets out the
responsibilities of the Clerk including induction and training of new Trustees. The induction process includes
meetings with all members of the Leadership Team to provide a clear insight into the College's operation and a
tour of the campus. Training is provided both internally and externally by presentations at Council and sub-
committee meetings and atlendance at AGBIS and other seminars that are available throughout the year.
Organisational Management
The Council, as the Trustees of the Charity, is legally responsible for the overall management and control of both
Schools of the College. Trustees met as a Council five times during the year, which included a strategic business
review meeting in May 2024. The detailed work of the Council is delegated to six sub-committees, each of which
operate under terms of reference, which are approved by the Governance Committee and which are required to
report to the full Council on a regular basis.
Finance Committee
Education Committee
Estates Committee
Governance Committee
Marketing Committee
Welfare Committee
Committee members are listed on page 1.
In addition to the sub-committees, certain Trustees also act as Trustees for Wycliffe College Foundation and as
Directors for Woodpark Limited.

Wycliffe College {Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Organisational Management (continued)
The Annual General Meeting in May 2024 provided the one occasion during the year for the Members to meet and
to receive the Financial Statements and Annual Report for the year ended 31 August 2023.
The strategic direction of the College is delegated to the Leadership Team which has responsibility for the day to
day management of the College. During the year the Leadership Team comprised..
the Head, Mr N J Gregory (resigned 31 August 2024)
the Head, Mr C A San José (appointed 1 September 2024}
the Prep School Head, Mrs H M Grant
the Director of Finance and Operations, Mr A R Taylor (resigned 21 August 2024)
the Director of Finance and Operations, Mr L B Godley (appointed 21 August 2024)
the Director of Marketing and Admissions, Miss R Wilkins
the Senior Deputy Head (Senior School), Mrs C M Petlingell
the Senior Deputy Head (Prep School), Mr R D Irwin {resigned 31 August 2024)
the Senior Deputy Head (Prep School), Mr R A Lee (appointed 1 September 2024)
the Deputy Head {Academicl (Senior School), Mr S V Dunne (resigned 31 August 20241
the Deputy Head (Academic) {Senior School), Mr M Routledge (appointed 1 September 2024)
the Deputy Head {Academic) (Prep School), Mr A Stone
Remuneration is set by the Council, with the objective of providing an appropriate level of remuneration to reward
fairly and responsibly individual contributions to the College's success.
Group Structure and Relationships
The College provides independent {day and boarding) education for boys and girls be￿een the ages of 3 and 7
years (Pre-Prep School - day only), 7 and 13 years (Prep School} and 13 and 18 years {Senior School).
The College has one wholly owned subsidiary, Woodpark Limited, registered nilmber 2731302, which provides
letling and retail services.
Wycliffe College Foundation is a separate charity and legal entity with parallel objects and common administration.
There are up to ten Trustees of Wycliffe College Foundation, of which six are appointed ex officio with up to a
further four being elected periodically, by co-option and two by nomination. Wycliffe College Foundation has
been consolidated into the financial statements of Wycliffe College (Incorporated} Limited on the basis of control
through common Trustees.
Employment and Equal Opportunities Policy
The College is an equal opportunities employer. Full and fair consideration is given tojob applications from disabled
persons and due consideration is given to their training and employment needs. Consultation with employees, or
their representatives, has continued at all levels with the aim of taking the views of employees into account when
decisions are made that are likely to affect their interests. Communication with employees continues through
normal management channels in a variety of forms and also through exceptional channels to apprise staff as
necessary of current issues.
Investment Policy and Objectives
There are no restrictions on the College's powers of investment other than those imposed by the donor. The policy
continues to be to hold investments to create income pending utilisation.

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
Charitable Objects
The Charity's Objects, as set out in the Articles of Association of Wycliffe College (Incorporated), are to provide a
School for the education of boys and girls, the advancement of that education, together with physical and moral
training, provision of boarding and day accommodation for teachers and children of both sexes and, the provision
of teacher training.
The College has a Strategic Plan 2019-2024, developed around the following Purpose Statement, Vision Statement
and Aims for Pupils.,
Purpose Statement
Inspire and educate every individual in mind, body and soul.
Vision Statement
Wycliffe will promote a pioneering spirit and encourage individuals to flourish and embrace their futures as global
citizens.
Aims for Pupils
The College's aims for the public benefit are for pupils to..
Achieve their full academic, spiritual, physical and creative potential.
Behave with 'unassuming confidence" showing generosity of spirit, respect for others and appreciation
of diversity.
Cultivate social and environmental awareness and an understanding of their role as global citizens.
Develop skills, self-knowledge and resilience to face positively all future challenges.
Exhibit creativity, innovation and independence in their approach to learning and to life.
Feel happy and secure.
This was a comment made by Ihe Inspeclion team during the 2016 ISI visil when seeking to describe the Wycliffe pupils
they had met.
Public Benefit
The Trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011 to have due
regard to the public benefit guidance published by the Charity Commission for England and Wales.
The Council and Leadership Team encourage the staff and the Wycliffe Community as a whole to identify ways in
which the College can enhance its contribution to society. This includes the contribution of time, money, facilities
and resources to local, national and international projects.
Some examples of the public benefit contributions the College has made in the past 12 months.,
EGonon7ic Impact
Trustees have utilised the Oxford Economics 'Economic Impact Assessment Tool 2018, to estimate the financial
impact that Wycliffe has upon the UK economy as a whole and upon the local Stroud Local Authority District.
Year to 31 Aug 2024
£27.5m
£10.8m
439
£9.3m
Total contribution to UK GDP (direct, supply chain and indirect staff spending)
Of which.. local impact
Total jobs supported (direct, supply chain and indirect staff spending)
Total UK tax payments (direct, supply chain and indirect staff spending)
Savings for the UK taxpayer as a result of attendance at Wycliffe by pupils
entitled to a free UK state place
£3.1m

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Public Benefit (continued
AcGess - Scholarships and Bursaries
Scholarships are awarded to the best applicants in their fields. A successful Scholar will be a leader in
their chosen field of expertise and a good role model during their time at Wycliffe. Scholarships recognise
talent in academic excellence, all round contribution, art, design technology, drama, modern languages,
music and sport.
Bursaries will be awarded to pupils who are looking for places in Year 7 and above. Bursaries will only
be awarded in exceptional circumstances to those who would most benefit from a Wycliffe education but
whose means make it impossible to afford.
The College also provides significant financial support to families serving in the British Armed Forces,
recognising the importance of the contribution the Armed Forces make to society. The College has
provided a commitment to these families that they will only pay 10 % of the School boarding fee after
receipt of the Continuity of Education Allowance.
In the year to 31 August 2024, the total value of scholarships, bursaries and Forces awards {excluding
slaff discounts and other concessions) was £2.3m (2023.. £2.2ml representing 11.4°/. (2023.. 12.2 % ) of
gross fee income, and a total of 256 {2023'. 246) pupils benefited in some way from these awards.
Training & Staff
The College aims to train and induct new teachers each year and continues to have links with the
Gloucestershire Initial Teacher Education Partnership.
Staff are encouraged to visit other local state schools to deliver lessons and share their experience and
subject specific expertise.
Teachers from local schools are invited to join our INSET programme, whilst school nurses also join our
medical team for some or all of their annual training.
Combined Cadet Force
The College's Combined Cadet Force provided support to the local community in a number of ways
during the year.,
Playing an integral part in the Stonehouse annual Remembrance Service
Supporting the Royal British Legion by selling poppies for Remembrance Day in Stonehouse
Supporting the Charitable efforts of Frampton Fair. Collecting for RBL, acting as stewards and
staffing the patrons tent
Working with Bristol and Gloucester Wing of the Air Training Corps to reduce their staff
burden for Ten Tors
CCF Staff using qualifications gained through the College to support local ATC and Scout units
with shooting and navigation training.
Facilities
The College made its facilities available to the local community. Some lettings were made free of charge.,
others are subsidised by the College. Where the College charges for these lettings, it aims to keep the
charges to a minimum.
Examples of the facilities which were frequently let to local schools, community groups, clubs and teams
during the year are.,
Astro turf pitch (hockey, football)
Swimming pool
Sports Hall (badminton, cricket, netball, fencing, basketball, air pistol)
Sports pitches (cricket, rugby)
Drama theatre

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Public Benefit (continued)
Tennis courts
Exam centre for external candidates sitting public exams
Severn Stars Nova Academy
The College continued as a Severn Stars Nova Academy, providing training facilities and coaching free
of charge. Seven Stars are a Vitality Netball Superleague team. Their Nova academies aim to provide
elite training to talented young netballers from all backgrounds across the county.
Making a Difference Day
The College held its annual 'Making a Difference Day, in late June 2024. This involved over 200 pupils
and 50 members of staff from across the Senior School spending a day in a range of activities to support
the local community. These aclivities included.,
Environmental projects at Slimbridge Wetlands Centre
Running a Sports Day for local primary schools, with over 80 pupils attending
Clearing a local overgrown graveyard and churchyard
Singing to residents of a local care home
Weeding, litter picking and general support to Stonehouse in Bloom
A sponsored walk in support of Bristol & Weston Hospitals Charity
Volunteers
The College wishes to record its thanks to all Old Wycliffians, the Senior and Prep School Parents
Associations and other Friends of Wycliffe who have given continued and valuable support during the
year.
STRATEGIC REVIEW
Review of achievement and performance for the year
Pupil Numbers
The Council aim to maintain a balance between day and boarding pupils, and boys and girls to ensure
diversity across the College community. An analysis of average pupil numbers is set out below.,
Senior School
200
200
60%
40/0
Prep School
163
66
Day pupils
Boarders
Boys
Girls
Educational Performance
Senior School
The Summer 2024 GCSE, BTEC and A level results saw a continuation of the return, nationally, to
alignment with pre-pandemic levels as the exams regulator, Ofqual, sought to achieve grade
distribution broadly in Sine with 2019 levels for pupils in England.
At Wycliffe, outcomes at GCSE and A level were good against the national picture and in many cases,
excellent. Although the GCSE cohort had pupils with barriers to their learning, the pupils, achievements
nonetheless outstripped the national picture at all levels, most notably at Grade 5 and above. In the
Sixth Form, pupils performed strongly against the national picture at Grade C and above. BTEC results
for the departing Year 13 cohort were particularly strong, representing the school steering pupils
towards sensible choices which allow them to access the next stage of their education or training.

Wycliffe College {Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Within the exams data there were, once again, some individual narratives of success reflecting the
school's philosophy. Even among a few apparently disappointing outcomes, there were a handful of
pupils for whom significant mental health and l or pastoral challenges meant that even the lowest
grades were cause for celebration.
For some, completion of a course of studies, even without a qualification at the end, whilst not entirely
satisfactory from the school's perspective, met the objectives for the pupils and their parents. Wycliffe's
accreditation of CReSTeD status refiects its reputation for excellence in supporting those with mild to
moderate dyslexia
Prep School
strong overall academic progress and performance from Early Years to Year 8 has been
demonstrated in the Prep School, evidenced by the following measures..
go % of pupils met or exceeded age-related expectations in progress in Reading {PIRA
standardised assessment)
87 % of pupils met or exceeded age-related expectations in progress in Maths (PUMA
standardised assessment)
90 % of pupils met or exceeded age-related expectations in progress in Science across
year groups 3 to 8 (GL Science standardised assessment)
96 % Wycliffe Encompass (Year 8 award internally assessed against age-related
expectations) Pass and above attainment, with 46 % achieving a Merit or Distinction
(highest bands)
Sport and Extra Curricular- Pupils, Achievements
A detailed review of the pupils, numerous and exceptional achievements during the year are recorded
in The Wycliffian and Young Wycliffian publications annually. These outstanding publications describe
the varied activities available to our pupils across a range of sporting, musical and other extra-curricular
pursuits. It demonstrates how the College is committed to ensuring that our pupils educational
experience is far broader than academic attainment.
The publications are available to review on the College website.,
The-
cliffian-2023-2024. df
The-youn
-w cliffian-2023-2024. df
Facilities and Resources
The Council remain committed to investing in ongoing improvement to the College's facilities. Works
completed during the year include,. refurbishment and improvement of certain boarding accommodation,
installation of solar panels, installation of electric charging points for staff use, and investment in the
College's WIFI.
Plans for future periods
The College's plans for future periods relate to the delivery of its rolling Strategic Milestones. For the
year ended 31 August 2024 these include ongoing delivery of the next stage of the Diversity, Equity and
Inclusion plan Strategy, embrace the benefits of being a Roundsquare member and a focus upon pupil
recruitment into the Prep School and boarders in the Senior School.
Fundraising
The College and Foundation do not actively fundraise. Donations and legacies are received from
individuals periodically.

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Investment performance
The College continues to hold investments subject to donor restrictions to create income pending
utilisation. Performance during the year was satisfactory.
Energy and Carbon Reporting
The Council understands the need to highlight its energy consumption through the year and take
measures to improve the energy efficiency for a sustainable future.
This equated to the following ratios..
Associated emissions in tonnes C02e 1,173.00 (2023.. 1,231.00)
Intensity ratio- tonnes C02e per pupil 1.8612023.. 1.96)
The College has taken the following measures to improve energy efficiency.
Installation of Solar Panels on selected building roofs
Installation of LED throughout the entire campus
Installed a thermos pool cover to reduce loss of heat from the swimming pool
Use of several electric vehicles Within the College's operational departments
Installation of electric vehicle charging points bringing total to 7 over campuses
Gas and Electricity procured from 100°/o Sustainable sources through a local company.
Increased recycling opportunities and facilities around campuses.
Non-recycled waste is managed by zero to landfill accredited company.
The College continues to monitor its consumption closely and explores all opportunities to reduce its
carbon footprint.
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used
the GHG Reporting Protocol
Corporate Standard and have used the 2024 UK Government
Conversion Factors for Company Reporting.
The chosen intensity measurement ratio is total gross emissions in metric tonnes C02e per pupil, the
recommended ratio for the sector.
Engagement with employees
The Council takes active steps to ensure matters concerning staff are disseminated by letter, email or
verbally by managers. Biannual meetings take place with staff where management make employees
aware of how the College is performing and discuss the challenges it currently faces. The Council
ensures that the suggestions, views and interests of employees are captured and considered in our
decision-making. The College has a strong equal opportunities policy where we actively promote and
encourage opportunities and no employee or prospective employee will receive unfair treatment.
Engagement with suppllers, customers and other business relationships
The Council recognises the need to maintain and foster good relationships with our suppliers, the parent
body and others, monitoring closely our dialogues with all of them. Where possible the College aims to
promote local business using local suppliers and seeks to balance the benefits of maintaining strong
partnering relationships with those key suppliers alongside Ihe need to obtain value for money and the
desired quality and service levels for our pupils. The College has a well-established payment system
where we pay suppliers promptly and accurately, with supporting documentation where appropriate.
Customers of the school are predominantly the parent body and the College invest heavily in ensuring
that parents and fully engaged and aware ofchanges in the school and aim to inform parents in a timely

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Engagement with suppliers, customers and other business relationships (continued)
manner. Communication is sent through various mediums from letters, emails to a personalised 'parent
porfal, which acts as a main source of information. Payments due are collected efficiently and with
sensitivity, where appropriate and the College offers many forms of payment options to best suit
individual needs.
The College engage positively with our pupils and their parents where we listen carefully to our pupils
and value feedback and opinions of their parents.
Promoting the success of the school
The College is highly regarded domestically and internationally with decisions taking into account the
interests of, and the impact on, the pupils, the parent body, staff, suppliers, the environment, the local
community and all others likely to be affected. We strive continually not only to maintain but also to
enhance our hard-won reputation for integrity and high standards.
FINANCIAL REVIEW
Results for the year
The Council monitors the financial performance of the College against three key performance indicators,
these being the level of surplus, expenditure on teaching salaries and bank borrowings. Performance is
reviewed by the Council on a termly basis. The College also uses externally available benchmarking
data from the independent schools sector to monitor and assess financial performance. The net
movement in funds was a deficit of £1,201,357 (2023.. deficit of £1,399,599).
The College reported an operating surplus in the year (pre interest and depreciation) of £95,65712023'.
surplus of £36,776)
The financial position at the balance sheet date was less favourable than the prior year due to the net
deficit in movement of funds. External bank borrowings decreased to £3,594,566 (2023 £4,612,623) at
31 August 2024, and cash at bank increased by £59,475 (2023 '. £325,058).
The College's trading subsidiary, Woodpark Limited and Wycliffe College Foundation (a separate legal
entity deemed to be under the control of the College} contributed turnover, profit and net assets outlined
in note 14 to the Financial Statements.
Reserves Level and Policy and Financial Viability
The College's unrestricted funds, including the revaluation reserve, were £20.4m as of 31 August 2024
(2023.. £21.8m), wholly deployed as part of the College's premises and equipment supplemented by
external funding, as required, in the form of a ftexible secured loan. Day to day working capital needs
are met by careful management of short-term liquid resources and the 10 year revolving loan facility.
Restricted funds held of £1.6m {2023.. £1.5m} and so total funds at 31 August 2024 are £22.1 m {2023:
£23.3m).
The Council have considered, as part of its Risk Management, the risks and uncertainties of operating
an independent educational establishment and has concluded that the need to hold free reserves is not
crucial to the day to day operation of the College.
The policy is therefore to control net current liabilities using annual operating surpluses. External
borrowing, when required, is controlled in order to meet further capital expenditure to equip the College
with the up-to-date facilities needed to maintain and further improve the standard of educational services
currently provided.
10

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Going Concern
The trustees regularly assess the appropriateness of preparing the annual financial statements on a
going concern basis, taking into account potential uncertainties that could impact the school's financial
position.
The trustees have prepared detailed forecasts up to 31 August 2026, which project an operating surplus.
These forecasts reflect the trustees, prudent assumptions regarding the introduction of VAT on school
fees from 1 January 2025, planned cost-saving measures currently underway, and reasonable
allowances for inflation and other variables such as pupil numbers, staffing costs, ulility expenses, and
capital investment needs.
The trustees have modelled several scenarios, including potential reductions in pupil numbers, increased
operating costs, and necessary capital expenditure. Based on these analyses, they are confident that
the school can manage these risks effectively. The trustees believe the measures already in place to
reduce costs and increase pupil recruitment will continue to strengthen the school's financial position.
The school maintains a 10-year £7.5m revolving credit facility to support its working capital needs, a
financing structure that is common within the independent school sector. As of 31 August 2024, £3.5m
12023.. £4.6m) was drawn, leaving £4m (2023.. £2.9ml available.
For the year ended 31 August 2024, the school did not meet one of its financial covenants. The lender,
while reserving its right to take action, has expressed ongoing support and continues to work closely with
the school. The trustees are actively engaged in discussions with the lender regarding the facility, which
is due for renewal in March 2027, and are exploring options to renew, refinance, or reduce reliance on
the facility by realising surplus assets.
While renewal or refinancing of the facility involves some uncertainty, the trustees are confident in the
strength of the relationship with the lender and the measures being undertaken to secure the school's
financial sustainability. Therefore, they have concluded that preparing the financial statements on a going
concern basis remains appropriate.
Principal Risks and Uncertainties
The Council are responsible for the management of the risks faced by the College and place
considerable importance on achieving compliance with charity, education and health and safety
legislation. The College's solicitors review the principal College policies on a regular basis and all other
policies are reviewed by the College's Leadership Team. The College employs a full time "Risk and
Compliance Manager" which underlines the profile Wycliffe accords to the operational spectrum of risk
management.
The Council are ultimately accountable for all risks associated with the College and to assist in the
reduction or, where practicable, elimination of such risk., it devolves such responsibility to the Head,
Leadership Team, and Risk and Compliance Manager.
The College's Risk Register identifies any major risks to the College, grading those risks by likelihood
and severity including measures to mitigate them. The Council regularly reviews the effectiveness of
current plans and strategies for managing all identified major risks. Key staff are aware of the register
and offer risks appertaining to their area of work for consideration and inclusion in this document. In the
event of a major situation involving or otherwise affecting the College, business continuity and disaster
recovery plans are in place. These plans are subject to regular review.
11

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Principal Risks and Uncertainties (continued)
Internal financial controls are checked by the Auditors and reviewed with the Finance Committee
annually. The key controls used by the charity include..
Engaging the Council in the activities of the College; regular, informal visits are the norm
Formal agendas for all Council and sub-committee meetings are distributed at least seven days
before meetings., minutes, approved by the Chair{s), are distributed on a timely basis
Extensive financial management information is presented to the Council well in advance of the
Council meetings,. the Council are consulted on the volume, format and content of information
presented for decision taking
Clear operating guidelines are given to the Officers of the College
An organisational slructure and lines of reporting
Formal written policies within the College
Clear authorisation and approval levels, and vetting procedures as required by law for the protection
of the vulnerable.
The Council have declared themselves satisfied that major risks have been identified and adequately
mitigated wherever reasonably practicable. It is recognised that systems can only provide reasonable
not absolute assurance that major risks have been adequately managed.
Statement by the Council in the performance of their statutory duties in accordance with
s172{1) of the Companies Act 2006
The Council believe that they have effectively implemented their duties under section 172 of the
Companies Act 2006. The Council has considered the long-term strategy of the business within the
Strategic Report and consider that this strategy will continue to deliver long term success to the
business and its stakeholders.
The Council is committed to maintaining an excellent reputation and strives to achieve high standards.
We are highly selective about which suppliers are used to deliver best value while maintaining an
awareness of the environmental impact of the work that they do and strive to reduce their carbon
footprint.
The Council recognise the importance of wider stakeholders in delivering their strategy and achieving
sustainability within the business. The main stakeholders in the company are considered to be the
employees, suppliers and customers.
In ensuring that all our stakeholders are considered as parl of every decision process we believe we
act fairly between all members of the Council.
12

Wycliffe College (Incorporated)
Annual Report by the Council of Trustees
for the year ended 31 August 2024
Trustees responsibilities
The Trustees (who are also directors of Wycliffe College (Incorporated) for the purposes of company
law) are responsible for preparing Ihe Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year, which give a
true and fair view of the state of affairs of the charitable company and of the incoming resources and
application of resources, including the income and expenditure, of the charitable company for the year.
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
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards have been followed, subject to any material
departures
disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the
charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy, at any time, the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. The Trustees are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Relevant Audit Information
In so far as the Trustees are aware, as members of Council, at the date of approval of this report:
There is no relevant audit information ofwhich the charitable company's auditor is unaware., and
The Trustees have taken all steps that they ought to have taken to make themselves aware of
any relevant
audit information and to establish that the auditor is aware of that information.
Annual Report (incorporating the Strategic Report) approved by the Council of Trustees on
and signed on its behalf by..
MrSFMLloyd
Chair of the Council of Trustees
Date..
/f/&-
13

Wycliffe College (Incorporated)
Independent Auditors, Report to the Members of Wycliffe College
for the year ended 31 August 2024
Opinion
We have audited the financial statements of Wycliffe College Ilncorporated) Limited by Guarantee {"the Parent
Charitable Company") and its subsidiaries I'the Group") for the year ended 31 August 2024 which comprise the
Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial
statements, including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is apkjlicable law and United Kingdom Accounting Standards {United Kingdom
Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland and the Charities SORP {FRS1021.
In our opinion the financial statements..
give a true and fair view of the state of the Group's and of the Parent Charitable Company's affairs as at 31
August 2024 and of the Group's incoming resources and application of resources, including its income and
expenditure, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements ofthe Companies Act 2006 and the Charities SORP
(FRS102)
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the Charitable Company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going con￿rn basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to
continue as a going concern for a period of at least Iwelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included
in the Reference and Administrative details, Trustees, Report and the Governan￿ Statement, other than the
financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the
other information and, except to the extent otheNise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement ofthe other information. If, based on the work
we have performed, we conclude that there is a material misslatement of this other information, we are required
to report Ihat facl.
We have nothing to report in this regard.
14

Wycliffe College (Incorporated)
Independent Auditors, Report to the Members of Wycliffe College
for the year ended 31 August 2024
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the governors, report (incorporating the strategic report and the directors, report) for
the financial year for which the financial statements are prepared is consistent with the financial statements.,
and
the strategic report and the directors, report have been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of Group's and the Parent Charitable Company and its
environment obtained in the course of the audit, we have not identified material misstatements in the strategic
report and the directors, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been by the Parent Charitable Company, or returns adequate for our
audit have not been received from branches not visited by us; or
the Parent Charitable Company fir.ancial statements are not in agreement with the accounting records and
returns., or
certain disclosures of directors, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of
the charitable company for the purposes of company law} are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees
determine is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Group's and the Parent
Charitable Company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the governors either intend to liquidate the
Charitable Company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will alwaye detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of usefs taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below=
15

Wycliffe College (Incorporated)
Independent Auditors, Report to the Members of Wycliffe College
for the year ended 31 August 2024
We obtained an understanding of the legal and regulatory frameworks applicable to the company financial
statements or that had a fundamental effect on the operations of the company. We determined that the most
significant laws and regulations included UKGAAP, UK Companies Act 2006 and taxation laws;
We assessed the susceptibility of the company's financial statements to material misstatement, including
how fraud might occur. Audit procedures performed by the engagement team included challenging
assumptions and judgments made by management in its significant accounting estimates and identifying and
testing journal enlries, in particular any journal entries posted with unusual characterislics.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is
also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
As parl of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional
scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Charitable Company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by the trustees.
Conclude on the appropriateness of the governors, use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may
cast significant doubt on the Charitable Company's ability to continue as a going concern. If we conclude that
a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures
in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor's report. However, future events or
conditions may cause the Charitable Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
Use of our report
This report is made solely to the Charitable Company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable
Company's members those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the Charitable Company and the Charitable Company's members as a body, for our audit work, for this report, or
for the opinions we have formed.
Date .
Scott Lawrence
A DChA (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor
Staverton
16

Wycliffe College (Incorporated)
Consolidated statement of financial activities
(including summary of income and expenditure account)
for the year ended 31 August 2024
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
2024
Total
2023
Note
INCOME FROM CHARITABLE
ACTIVITIES
School Fees
Ancillary trading income
17,192,047
365,005
17,192,047
456,225
15,208,116
451,528
5a
91,220
Income from trading activities
Other trading income
5b
308,182
308,182
264,654
Other income
Investment income
Donations and fundraising
Surplus on the sale of fixed
assets
15,439
2,251
26,987
60
42,426
2,311
35,152
10,435
4,750
4,750
Total Income
17,887,674
118,267
18,005,941
15,959,885
EXPENDITURE ON
CHARITABLE ACTIVITIES
Provision of education
18,898,364
79,725
18,978,089
16,996,560
Other costs
Fundraising costs
Financing costs
Trading costs
Management costs
Deficit on the sale of fixed
assets
12,430
411,911
4,434
4,168
12,430
411,911
4,434
12,475
31,399
296,950
1,660
12,432
8,307
767
Total expenditure
19,331,307
88,032
19,419,339
17,339,768
Net (expenditure)lincome
before gains, losses & transfers
(1,443,633)
30,235
(1,413,398)
(1,379,883}
Net profitl{loss) on investment
assets
70,671
141,370
212,041
{19,716}
Net expenditure
(1,372,962)
171,605
(1,201,357)
{1,399,599)
Transfers be￿een funds
Net movement in funds
{1,372,962)
171,605
{1,201,357)
{1,399,599)
17

Wycliffe College (Incorporated)
Consolidated statement of financial activities
(including summary of income and expenditure account)
for the year ended 31 August 2024
Continued
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
2024
Total
2023
Note
Reconcilialion of funds
Total funds brought forward
24
21,807,415
1,457,075
23,264,490
24,664,089
Net movement in funds
(1,372,962)
171,605
11,201,357)
(1,399,599)
Total funds carried forward
24
20,434,453
1,628,680
22,063,133
23,264,490
The statement of Financial Activities includes all gains and losses in the year. All incoming resources and resources
expended are derived from continuing activities.
The College has taken advantage of section 408 of The Companies Act 2006 not to publish its own statement of financial
activities. The College's net deficit for the year was £1,293,898 (2023: £1,277,304).
The notes on pages 23 to 47 form part of these accounts.
18

Wycliffe College (Incorporated)
Consolidated statement of financial activities
(including summary of income and expenditure account)
for the year ended 31 August 2023
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
2023
Note
INCOME FROM CHARITABLE ACTIVITIES
School fees
Ancillary trading income
Government grants
15,208,116
350,756
15,208,116
441,528
5a
90,772
Income from trading activities
other trading income
5b
264,654
264,654
other income
Investment income
Donations and fundraising
13,685
9,375
21,467
1,060
35,152
10,435
Total Income
15,846,586
113,299
15,959,885
EXPENDITURE ON CHARITABLE
ACTIVITIES
Provision of education
16,892,885
103,675
16,996,560
Other costs
Fundraising costs
Financing costs
Trading costs
Investment Management costs
Deficit on the sale of fixed assets
31,399
296,950
1,660
4,677
767
31,399
296,950
1,660
12,432
767
7,755
Total expenditure
17,228,338
111,430
17,339,768
Net expenditure before investment gains
(1,381,752)
1,869
(1,379,883)
Net loss on investment assets
(7,402)
(12,314)
{19,716}
Net expenditure
{1,389,154)
(10,445)
{1,399,599J
Transfers between funds
Net movement in funds
<1,389,154)
(10,445)
(1,399,599)

Wycliffe College (Incorporated)
Consolidated statement of financial activities
(including summary of income and expenditure account)
for the year ended 31 August 2023
Continued
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
2023
Note
Reconciliation of funds
Total funds brought fO￿ard
24
23,196,569
1,467,520
24,664,089
Net movement in funds
(1,389,154)
(10,445)
(1,399,599}
Total funds carried foNard
24
21,807,415
1,457,075
23,264,490
The notes on pages 23 to 47 form part of these accounts.
20

Wycliffe College (Incorporated)
Balance Sheet
for the year ended 31 August 2024
Consolidated
2024
Consolidated
2023
College
2024
College
2023
Note
FIXED ASSETS
Tangible assets
Investments
13
14
30,334,251
1,869,669
32,203,920
31,024,270
1,910,332
32,934,602
30,334,251
31,024,270
30,334,253
31,024,272
CURRENT ASSETS
stock
Debtors
Cash at bank and in hand
2,010
3,495,440
1,343,655
2,008
4,176,835
1,280,673
15
16
3,549,750
1,111,066
4,502,580
1,044,426
4,841,105
5,459,516
4,660,816
5,547,006
Creditors: Amounts falling
due within one year
17
12,682,005
9,279,367
12,537,568
9,269,505
NET CURRENT
(LIABILITIES)
{7,840,900)
(3,819,851}
(7,876,752)
{3,722,499}
TOTAL ASSETS LESS
CURRENT LIABILITIES
24,363,020
29,114,751
22,457,501
27,301,773
Creditors.. amounts falling due
after more than one year
18
2,299,887
5,850,261
2,299,887
5,850,261
TOTAL NET ASSETS
23
22,063,133
23,264,490
20,157,614
21,451,512
Funds
Unrestricted funds
Revaluation reserve
General
24
24
3,100,500
17,333,953
20,434,453
3,139,370
18,668,045
21,807,415
3,100,500
16,840,256
19,940,756
3,139,370
18,106,780
21,246,150
Restricted funds
1,628,680
1,457,075
216,858
205,362
TOTAL FUNDS
22,063,133
23,264,490
20,157,614
21,451,512
The financial statements were approved and authorised for issue by the Council of Trustees on 25 knig"
and signed on their b half by..
MrSFMLloyd
Chair of the Council of Trustees
Garrard
air of the Council of Trustees
The notes on pages 23 to 47 form part of these financial statements.
21

Wycliffe College (Incorporated)
Consolidated statement of cash flows
for the year ended 31 August 2024
2024
2023
Notes
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
25
114,291
(60,035)
Cash flows from investing activities
I nterest received
Dividends received
Payments to acquire investments
Receipts from disposal of investments
Payments to acquire tangible fixed assets
Receipts from disposal of tangible fixed assets
2,722
39,704
(801,437)
1,050,615
(343,7921
4,750
942
34,209
(63,485)
42,481
11,109,478)
300
Cash flows used in investing activities
(47,438)
11,095,031)
Cash flow from financing activities
Net irbcrease in advance fees scheme money
Net {decrease}lincrease in hire purchase loans
Net {decreaseJlincrease in bank loan
1,154,614
(143,9351
{1,018,057}
118,059
9,442
1,362,623
Nel cash (outflow)linflow from financing
7,378
1,490,124
Increase in cash and cash equivalents during the year
59,475
335,058
Cash and cash equivalents at the start of the year
1,320,975
985,917
Total cash and cash equivalents at the end of the year
1,380,450
1,320,975
Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand
16
14
1,343,655
36,795
1,280,673
40,302
Cash on deposit
1,380,450
1,320,975
The notes on pages 23 to 47 form part of these financial statements.
22

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
statutory information
The School is a Public Benefit Entity registered as a Charity in England and Wales and a company
limited by guarantee. It was incorporated on 10 April 1931 (company number.. 255632) and registered
as a charity on 28 July 1966 {charity number.. 311714). Details of the registered address is given on
page 2 and details of the principal activity is given in the report of the council of trustees.
Accounting policies
Basis of preparing financial statements
The functional currency of the College is considered to be pounds sterling because that is the currency
of the primary economic environment in which the School operates and all amounts are rounded to the
nearest pound.
Basis of consolidation
The group accounts consolidated the accounts of Wycliffe College (Incorporated) limited by guarantee
and its subsidiary undertakings, Wycliffe College Foundation and Woodpark Limited on a line by line
basis. The accounts are made up to 31 August 2024. Wycliffe College Foundation is deemed to be a
subsidiary based on Wycliffe College (Incorporated) Limited By Guarantee having control over the entity.
No separate statement of financial activities or income and expenditure has been presented for the
charitable company alone as permitted by the Companies Act 2006 and the 2015 Charities SORP. The
parent company's net expenditure for the year was £1,293,898 (2023.. £1,277,304).
The results of the subsidiary undertakings for the year are disclosed in note 14 of the accounts.
statement of Compliance
The financial statements have been prepared in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102}, the Companies Act 2006 and the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- effective 1 January 2019.
Going concern
The trustees regularly assess the appropriateness of preparing the annual financial statements on a
going concern basis, taking into account potential uncertainties that could impact the school's financial
position.
The trustees have prepared detailed forecasts up to 31 August 2026, which project an operating surplus.
These forecasts reflect the trustees, prudent assumptions regarding the introduction of VAT on school
fees from 1 January 2025, planned cost-saving measures currently underway, and reasonable
allowances for inflation and other variables such as pupil numbers, staffing costs, utility expenses, and
capital investment needs.
The trustees have modelled several scenarios, including potential reductions in pupil numbers,
increased operating costs, and necessary capital expenditure. Based on these analyses, they are
confident that the school can manage Ihese risks effectively. The trustees believe the measures already
in place to reduGe costs and increase pupil recruitment will continue to strengthen the school's financial
position.
The school maintains a 10-year £7.5m revolving credit facility to support its working capital needs, a
financing structure that is common within the independent school sector. As of 31 August 2024, £3.5m
(2023.. £4.6m) was drawn, leaving £4m (2023.. £2.9m) available.
23

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies Icontinued)
Going Concern (continued)
For the year ended 31 August 2024, the school did not meet one of its financial covenants. The lender,
while reserving its right to take action, has expressed ongoing support and continues to work closely
with the school. The trustees are actively engaged in discussions with the lender regarding the facility,
which is due for renewal in March 2027, and are exploring options to renew, refinance, or reduce reliance
on the facility by realising surplus assets.
While renewal or refinancing of the facility involves some uncertainty, the trustees are confident in the
strength of the relationship with the lender and the measures being undertaken to secure the school's
financial sustainability. Therefore, they have Concluded that preparing the financial statements on a
going concern basis remains appropriate.
Income of Wycliffe College (Incorporated)
Fees and similar earned income
This represents the invoiced value of fees and other income net of bursaries and scholarships Fees
received for education to be provided in future years are carried fotward as deferred.
Donations and fundralsing
Donations received for the general purposes of the College are credited to unrestricted funds.
Donations subject to specific wishes of the donors are credited to relevant restricted funds, or to
endowed funds. Donated assets are valued at estimated open market value at the date of the gift.
Government grants
Payments received from the government for furloughed employees are a form of grant. This grant
money is receivable as compensation for expenses already incurred, and where this is not in respect of
future related costs, is recognised in income in the period in which it becomes receivable and the related
expenses is incurred.
Income of Wycliffe College Foundation
Legacies
Legacies are recognised where there is entitlement, receipt is probable and the amount can be
measured with sufficient reliabilily.
Dividends
Dividends are included when they are receivable.
Bank Interest
Bank interest is included on an accruals basis.
24

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies (continued
Income of Woodpark Limited
Hire of facilities
Turnover from Ihe hire of facilities is included when it is receivable and to the extent that the service
has been completed.
Sale of goods
Turnover from the sale of goods is included when the significant risks and rewards of ownership of the
goods have transferred to the buyer, the amount can be estimate with reasonable certainty, it is
probable that the economic benefits will flow to the company and the costs incurred or to be incurred
in respect of the transition can be measured reliably.
Expenditure
Expenditure is accrued as soon as a liability is considered probable, discounted to present value or
longer term liabilities. Overhead and other costs not directly attributable to particular functional activity
categories are apportioned over the relevant categories on the basis of managemenl estimates of the
amount attributable to that activity in the year, either by reference to staff time or space occupied, as
appropriate. The irrecoverable element of VAT is included with the item of expenditure to which it
relates.
Governance costs comprise the cost of complying with constitutional and statutory requirements.
Tangible fixed assets
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.
Freehold land and buildings include original cost and subsequent alterations and additions.
Freehold land and buildings were previously revalued using RICS open market valuation on a freehold
basis by an independent professionally qualified valuer. This value has since been treated as deemed
cost and not updated, in line with transitional provisions of FRS 102.
Depreciation
Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual
value based on current market prices, over their useful economic lives. The rates used are as follows=.
Freehold land & buildings
Furniture and fittings
Equipment
Motor vehicles and boats
Computer software
2 _ 100/0 per annum straight line
10_ 20 % per annum straight line
10 _ 33.30/0 per annum straight line
10_ 33.30/0 per annum straight line
20 _ 33.3 % per annum straight line
No depreciation is charged on land. Assets under the course of construction are not depreciated until
they are brought into use.
An amount equal to the excess of the annual depreciation charge on revalued assets over the historical
cost depreciation charge on those assets is transferred annually from the revaluation reserve to the
unrestricted funds reserve.
Investments
Investments are valued at current market value.
25

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies Icontinued)
stock
Stocks are stated at the lower of cost or net realisable value.
Advance fee scheme
Advance fees represent payments in advance in respect of education to be provided in future terms
in accordance with a written contract. The fees for each term are charged against the remaining
balances and taken to income.
Fund accounting
Details and the nature and purpose of each fund are set out in note 24.
Pension costs
The pension costs charged in the Statement of Financial Activities are determined as follows..
The Teachers, Pension Defined Benefits 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 scheme
on a consistent and reasonable basis and therefore, as required by FRS 102, accounts for the scheme
as if it were a defined contribution scheme. The College's contributions, which are in accordance with
the recommendations of the Government Actuary, are charged in the period in which the salaries to
which they relate are payable.
Auto Enrolrnent Pension Scheme- this scheme is a unit-linked defined contribution scheme from The
Peoples Pension (B & CE Ltd). The College contributes at varied rates of pensionable salary.
For further information, see Note 30.
Operating leases
The annual rents on operating leases are charged to the revenue account on a straight line basis over
the lease term, even if the payments are not made on such a basis. Benefits received and receivable
as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease
term.
Leased assets: the College as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed
assets. Assets acquired by finance lease are depreciated over the shorler of the lease term and their
useful lives. Finance leases are those where substantially all of the benefits and risks of ownership
are assumed by the company. Obligations under such agreements are included in creditors net of the
finance charge allocated to future periods. The finance element of the rental payment is charged to
the Statement of Financial Activities and Retained Earnings so as to produce a constant periodic rate
of charge on the net obligation outstanding each period.
Financial Instruments
Financial instruments are recognised when the College becomes party to the contractual provisions
of Ihe instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable right to set off the recognised amounts are there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
26

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies (continued)
Basic financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are
initially measured at transaction price including transaction costs and a subsequently carried at
amorlised cost using the effective interest method unless the arrangement constitutes a financing
transaction, where the financial asset is measured at the present value of the future receipts
discounted at a market rate of interest.
Impairment of financial assets
Financial assets, other than those held at fair value through the statement of financial activities are
assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events
that occurred after the initial recognition of the financial asset, the estimated future cash flows have
been affected. If an asset is impaired, the impairment loss if the difference between the carrying
amount and the present value of the estimate cash flows discounted at the asset's original effective
interest rate. The impairment loss is recognised in the statement of financial activities.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does
not exceed what the carrying amount would have been, had the impairment not previously been
recognised. The impairment reversal is recognised in the statement of financial activities.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset
expire or are settled, or when the College transfers the financial asset and substantially all the risks
and rewards of ownership to another entity, or if some significant risks and rewards of ownership are
retained but control of the asset has transferred to another party that is able to sell the asset in its
entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered
into.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and advance fee payments
are initially recognised at transaction price unless the arrangement constitutes a financing transaction,
where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when and only when, the College's contractual obligations are
discharged, cancelled, or they expire.
Interest rate swap agreements
The College uses interest rate swap agreements to reduce exposure to interest rate changes.
Derivatives are initially recognised at fair value on Ihe date a derivative contract is entered into and
are subsequently re-measured at their fair value. Changes in the fair value of derivatives are
recognised in the statement of financial activities in finance costs or income as appropriate. The
college does not currently apply hedge accounting for derivatives.
27

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Critical accounting judgements and key sources of estimation and uncertainty
In the application of the accounting policies, Trustees are required to make judgement, estimates and
assumplions about the carrying value of assets and liabilities that are not readily apparent from other
sources. The estimates and underlying assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affects only that period, or in the period of revision and future periods if the revision affects current
and future periods.
The following key estimates and judgements are adopted in the preparation of the accounts:
Depreciation of tangible fixed assets - the Trustees exercise their judgement in assessing
the useful economic life of an asset and expected residual values where appropriate.
Bad debt provision the Trustees adopt a prudent and consistent basis of recognising the
provision which takes into account debt collection rates throughout the year.
b)
In the view of the Trustees, these are likely to result in a material adjustment to their carrying amounts
in the next financial year.
School fees receivable
Total
2024
Total
2023
Fees receivable consist of:
Gross fees
Less.. Total scholarships, bursaries and grant making
20,024,916
{2,832,869}
17,192,047
17,699,325
(2,491,209)
15,208,116
School fees receivable of £17,192,047 {2023 - £15,208,116) related to unrestricted funds.
other income
Total
2024
Total
2023
a) Ancillary income
other ancillary income
Registration and entrance fees
School coffee shop
The Wycliffian Society
313,967
29,900
53,498
58,860
456,225
305,462
35,400
27,402
72,264
441,528
Income from the Wycliffian Society of£58,860 {2023- £72,264) and for Expendable Grants of£32,360
(2023 - £18, 508) related to restricted funds. All other ancillary income was unrestricted.
b) Other trading income
Letting of school facilities
308,182
264,654
Other trading income was unrestricted in the current and prior year.
28

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Investment income
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
2024
Bank and other interest
Dividends
2,206
13,233
15,439
516
26,471
26,987
2,722
39,704
42,426
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
2023
Bank and other interest
Dividends
841
12,844
13,685
101
21,366
21,467
942
34,210
35,152
Net incoming resources for the year
2024
2023
Net income for the year is stated after:
Charitable expenditure includes:
Depreciation
ProfiU(loss) on disposal of fixed assets
Auditors remuneration..
for audit services
for non audit services
1,033,811
4,750
1,001,364
{7671
37,020
3,835
1,079,416
35,030
3,520
1,039,147
29

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Expenditure on raising funds
Staff
other
Depreciation
Total
2024
Fundraising costs
Financing costs (see note 10}
Fundraising trading costs
Investment management costs
12,430
12,430
411,911
4,434
12,475
441,250
411,911
4,434
12,475
428,820
12,430
Total expenditure on raising funds was £441,250 (2023 - £342,441) of which £8,307 (2023 - £7,755)
was restricted and £432,943 (2023 - £334,686) was unrestricted funds.
staff
Other
Depreciation
Total
2023
Fundraising costs
Financing costs (see note 10)
Fundraising trading costs
Investment management costs
31,399
31,399
296,950
1,660
12,432
342,441
296,950
1,660
12,432
311,042
31,399
Expenditure on charitable activities
staff
Other
Depreciation
Total
2024
Provision of education
Teaching
Welfare
Premises
Support costs and
governance
Grants, awards and prizes
Total charitable
expenditure
6,947,457
2,024,859
452,386
736,625
285,413
2,186,419
3,918,322
12,615
7,684,082
2,310,272
3,672,617
5,298,503
12,615
1,033,812
1,380,181
10,804,883
7,139,394
1,033,812
18,978,089
Total charitable expenditure was £18,978,089 12023 £16,996,560) of which £79,725 {2023
£103,675) was restricted, and £18,898,364 (2023 - £16,892,885) was unrestricted funds.
30

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
Expenditure on charitable activities (continued)
staff
other
Depreciation
Total
2023
Provision of education
Teaching
Welfare
Premises
Support costs and
governance
Grants, awards and prizes
Total charitable
expenditure
6,430,561
1,917,326
420,780
646,780
297,355
1,767,763
7,077,341
2,214,681
3,189,907
1,001,364
1,214,973
3,276,198
4,491,171
23,460
23,460
9,983,640
6,011,556
1,001,364
16,996,560
Governance costs included in support costs:
2024
2023
Auditors remuneration..
for audit services
for non-audit services
Reimbursement of expenses to trustees
37,020
3,835
1,382
42,237
35,030
3,520
1,500
40,050
Travel, accommodation, training and subsistence expenses of £1,382 (2023.. £1,500) were
reimbursed to four (four in 2023) Members of the Council.
10.
Financing costs
2024
2023
Bank loan
Fees scheme
Bank charges
Finance lease
278,293
54,654
49,470
29,494
411,911
174,298
46,333
39,749
36,570
296,950
Finance costs were unrestricted in the current and prior year.
31

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
11.
staff costs
2024
2023
The aggregate payroll costs for the year were as follows..
Wages and salaries
Social security costs
Superannuation and other pension costs
9,003,477
817,633
996,203
10,817,313
8,421,190
761,233
832,615
10,015,038
No member of Council received any remuneration or other benefits from the College during the year.
There were 7 {2023.' 6) key management personnel in the year. The aggregate employee benefits
including pension costs and employers national insurance cost of key management personnel were
£1,035,929 {2023.' £861,312).
The average number of employees during the year was as follows..
Group
2024
Group
2023
Teaching staff
others
208
121
329
208
121
329
The number of employees whose emoluments exceed £60,000 were..
2024
Number
2023
Number
£60,001- £70,000
£80,001- £90,000
£90,001- £100,000
£100,001- £110,000
£190,001- £200,000
£200,001- £210,000
Contributions were made to the Teachers, Pension Scheme, which is a defined benefits scheme for
1 of the above employees <2023.. 1). There were contributions of £105,97612023.' £101,371) to a
money purchase scheme for the other employees.
12.
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or
section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its
charitable objects.
32

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
13. Tangible fixed assets- Group
Motor
Vehicle5
and
Freehold
land and
Furniture
And
Fittings
Computer
Software
Buildings
Equipment
Boats
Total
Cost or deemed cost"
Al 1 September 2023
Additions during the year
Al 31 August 2024
36,856,690
56,654
36,913,344
991,608
181,769
1,173,377
1,151,467
77,544
1,229,011
714,321
6,619
720,940
16,314
21,207
37,521
39,730,400
343,793
40.074,193
Depreciation
Al 31 August 2023
Provided during year
At 31 August 2024
7,175,008
585,147
7,760,155
624,208
129,818
754,026
491,711
221.066
712.777
405.779
93.119
498,898
9,424
4,662
14,086
8,706,130
1,033,812
9,739,942
Net book value
Al 31 August 2024
At 31 August 2023
29,153.fj89
29,681,682
419.351
367,400
516,234
659,756
222,042
308,542
23.435
6,890
30,334,251
31,024.270
Included in the freehold land and buildings is land valued at £11,217,15412023'. £11,217,154) which is not depreciated.
The net carrying amount ofassets held under finance leases are £272,152 (2023.. £378,411).
he Group has elected, in accordance the transitional guidance under Section 35.1 Old) of FRS 102, to use the carrying value of
any of the above assets previously carried al a valuation, as their deemed cost.
33

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
13. Tangible fixed assets - College
Motor
Vehicle5
and
Freehold
land and
Furniture
And
Computer
Software
Buildings
Flttings
Equipment
Boats
Total
Cost or deemed c05t'
Al 1 September 2023
Additions during the year
Al 31 August 2024
36.856.690
56,654
36,913,344
991.608
181,769
1,173,377
1,151,467
77.544
1,229.011
714,321
6,619
720,940
16,314
21,207
37,521
39,730,400
343.793
40.074.193
Depreciation
Al 31 August 2023
Provided during year
Al 31 August 2024
7,175,008
585,147
7,760,155
624,208
129,818
754,026
491,711
221,066
712,777
405,779
93.119
498.898
9,424
4.662
14,086
8,706,130
1,033,812
9,739,942
Net book value
At 31 August 2024
Al 31 August 2023
29,153,189
419,351
367,400
516,234
222,042
308,542
23,435
6,890
30,334,251
31,024,270
29,681,682
659,756
Included in the freehold land and buildings is land valued at £11,217,154 (2023: £11,217,154) which is not depreciated.
Nel carrying amounl oflhe assels held under finance leases are £272,15212023'. £378.411).
he College has elected, in accordance the Iransilional guidance under Section 35.10(d) of FRS 102, to use the carrying value of
any of the above assets previously carried at a valuation, as their deemed cost.
34

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
14.
Investments
Investments - Group
Listed investments
2024
2023
Market value at 1 September 2023
Additions
Disposals
Realised gains
Revaluations
1,870,030
801,437
(1,050,615)
9,383
202,639
1,868,392
63,485
{42,481)
1,212
{20,578)
Market value at 31 August 2024
Cash on deposit
1,832,874
36,795
1,870,030
40,302
At 31 August 2024
1,869,669
1,910,332
2024
2023
Investments - College
Investments in subsidiaries
Subsidiary undertakings
Woodpark Limited
The wholly owned trading subsidiary Woodpark Limited is incorporated in England & Wales (company
number.. 02731302) and pays all of its taxable profits to the charity under the gift aid scheme.
Woodpark Limited operates all commercial trading operations carried on at the Wycliffe College premises.
A summary of the trading results and financial performance of the subsidiary alone is..
2024
2023
Turnover
Cost of sales
314,076
{373)
272,277
(407)
Gross profit
Administrative expenses
Operating profit and profit for the year
313,703
126,340
287,363
271,870
(6,554)
265,316
Donation made to College
Retained profit for the year
(287,363)
(265,316}
35

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
14.
Investments (continued)
Wycliffe College Foundation
The Company has the right to appoint trustees of Wycliffe College Foundation and as a result of this is
deemed to have control of the charity. The charity is registered in England & Wales (charity number..
10782861.
A summary of the trading results and financial performance of the subsidiary alone is=
2024
2023
Income
Expenditure
42,974
(162,474)
38,433
(141,011)
Net (expenditurellincome before investment gains
Net (losses)Igains on investment assets
Net (expenditure)lincome for the year
(119,500}
212,041
92,541
(102,578)
(19,716)
(122,294)
Total funds brought foward
Total funds carried fomard
1,812,188
1,904,729
1,934,482
1,812,188
15.
Debtors
Group
2024
Group
2023
College
2024
College
2023
School fees
other debtors
Prepayments
Amounts due from subsidiary
company
2,924,178
214,397
356,864
3,702,303
79,757
394,775
2,924,178
2,684
321,712
3,702,303
6,594
394,775
301,176
398,908
3,495,440
4,176,835
3,549,750
4,502,580
16.
Cash at bank and in hand
Group
2024
Group
2023
College
2024
College
2023
Cash at bank
1,343,655
1,280,673
1,111,066
1,044,426
36

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
17.
Creditors: amounts falling due within one year
Group
2024
Group
2023
College
2024
College
2023
Bank loan
Trade creditors
Social security and other
taxes
Other creditors
Outstanding pension
contributions
Fees deposits
Accruals
Hire purchase
Advance fees scheme
Fees received in advance
3,522,357
721,836
20,408
717,516
3,522,357
587,862
20,408
697,902
200,865
5,714
200,014
3,353
8.633
34,072
8,634
105,341
90.069
1,351,381
291,478
125,503
1,380,007
4,989,876
12,682,005
51,656
1,400,593
258,249
140,499
1,323,964
5,326,696
9,279,367
90,069
1,351,381
283,977
125,503
1,380,007
4,987,764
12,537,568
1,400,593
250,749
140,499
1,323,964
5,326,696
9,269,505
18.
Creditors: amounts falling due after more than one year
Group
2024
Group
2023
College
2024
College
2023
Bank loan (note 20}
Advance fees scheme {note
19)
Hire purchase (note 21)
72,209
4,592,215
72,209
4,592,215
1,995,307
232,371
2,299,887
896,736
361,310
5,850,261
1,995,307
232,371
2,299,887
896,736
361,310
5,850,261
19.
Advance fees scheme
Parents may enter into a contract to pay the school up to the equivalent of five years, tuition fees in
advance. The money may be returned subject to specific conditions on demand. Assuming pupils will
remain in the school, advance fees will be applied as follows..
Group
2024
Group
2023
College
2024
College
2023
Due within 1 year
Due after 1 year
1,380,007
1,995,307
3,375,314
1,323,964
896,736
2,220,700
1,380,007
1,995,307
3,375,314
1,323,964
896,736
2,220,700
37

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
19.
Advance fees scheme (continued)
The balance represents the accrued liability under the contracts. The movements during the year were..
Group
2024
Group
2023
College
2024
College
2023
Balance at 1 September 2023
New contracts
Amounts accrued to contracts
as debt-financing costs
2,220,700
2,571,117
2,106,393
1,485,019
2,220,700
2,571,117
2,106,393
1,485,019
61,753
44,874
61,753
44,874
4,853,570
3,636,286
4,853,570
3,636,286
Arnounts utilised in payments
of fees
Refunds
Balance at 31 August 2024
(1,478,256)
{1,401,731)
(13,855)
2,220,700
{1,478,256)
(1,401,731)
(13,855)
2,220,700
3,375,314
3,375,314
20.
Bank loan
Group
2024
Group
2023
College
2024
College
2023
Due in one year
Due in be￿een 2 and 5 years
Total
3,522,357
72,209
3,594,566
20,408
4,592,215
4,612,623
3,522,357
72,209
3,594,566
20,408
4,592,215
4,612,623
The College has agreed loan facilities as follows..
A revolving loan facility of £7.5 million for a period of 10 years at an interest rate of 1.59°/o over base rate
and repayable in full by 20 March 2027. The loan is secured by way of a legal charge over various College
properties.
The College accepted a fixed rate loan of £120k during the year ended 31 August 2023 to fund capital
projects. As part of the loan conditions, the College was committed to pay a fixed interest rate of 8.44 %.
38

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
21.
Hire purchase
Group
2024
Group
2023
College
2024
College
2023
More than 5 years
Within 2 to 5 years
Within 1 to 2 years
5,482
104,128
122,761
54,200
178,769
128,341
361,310
5,482
104,128
122,761
54,200
178,769
128,341
361,310
Within 1 year
125,503
140,499
125,503
140,499
357,874
501,809
357,874
501,809
22.
Financial instruments
Group
2024
Group
2023
Financial assets measured at fair value
1,832,874
1,870,030
Included within financial instruments held at fair value is investments.
23.
Analysis of net assets between funds
2024 Group
Unrestricted funds
Revaluation
Reserve
Restricted
Funds
General
Total
Tangible fixed assets
Investments
Net current liabilities
Long term liabilities
3,100,500
27,233,751
625,201
(8,225,112)
{2,299,887)
30,334,251
1,869,669
(7,840,900)
(2,299,887)
1,244,468
384,212
3,100,500
17,333,953
1,628,680
22,063,133
39

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
23.
Analysis of net assets between funds Icontinued)
2024 College
Unrestricted funds
Revaluation
Reserve
Restricted
Funds
General
Total
Tangible fixed assets
Investments
Net current liabilities
Long term liabilities
3,100,500
27,233,751
30.334,251
(8,093,610)
(2,299,887)
216,858
(7,876,752)
(2,299,887)
3,100,500
16,840,256
216,858
20,157,614
2023 Group
Unrestricted funds
Revaluation
Reserve
Restricted
Funds
General
Total
Tangible fixed assets
Investments
Net current liabilities
Long term liabilities
3,139,370
27,884,900
683,723
(4,050,317)
(5,850,261)
31,024,270
1,910,332
(3,819,851)
(5,850,261)
1,226,609
230,466
3,139,370
18,668,045
1,457,075
23,264,490
2023 College
Unrestricted funds
Revaluation
Reserve
Restricted
Funds
General
Total
Tangible fixed assets
Investments
Net current liabilities
Long term liabilities
3,139,370
27,884,900
31,024,270
(3,927,861)
(5,850,261)
205,362
(3,722,499)
(5,850,261)
3,139,370
18,106,780
205,362
21,451,512
40

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
24.
Funds analysis - Group current year
Gainsl
(losses)
And
Transfers
At1
September
2023
At31
August 2024
Income
Expenditure
Unrestricted funds
Revalualion reserve
General funds
3,139,370
18,668,045
{38,870}
109,541
3,100,500
17,333,953
17,887,674
(19,331,307)
21,807,415
17,887,674
(19,331,307)
70,671
20,434,453
Restricted funds
The Wycliffian Society
Expendable grants
General Endowment
Bequests and Prize
Funds
Loosley Endowment
Pearson Bursary
Ward's Scholarship
J H Edwards Bequest
Sibly Scholarship
Wilson Scholarship
Selwyn Bursary
Bursaries Fund
Burnet Ward Bursary
Educational Grants
Honours Boards
Prep School Sports
Miscellaneous funds
Hardship fund
Nowak Family Fund
Keith Paget Fund
150,933
78,131
61,275
58,860
32,360
1,406
{47,776)
34,200
(433)
162,017
144,691
69,612
7,364
51,824
276,625
88,455
140,179
51,340
77,791
36,999
69,696
103,684
66,211
1,694
1,060
22,430
3,029
1,470
143,468
30,781
1,457,075
51,824
314,266
92,752
157,668
58,326
88,377
42,034
74,179
117,793
71,155
1,925
1,204
25,483
3,441
1,671
115,206
35,056
1,628,680
6,347
2,030
3,202
1,178
1,785
849
1,598
2,379
1,579
39
24
515
69
34
3,292
721
118,267
(1,954)
18,365}
12,486)
(363}
(5491
(2611
{5,492)
(732)
{4,593)
(12)
{7}
(158)
(21)
(10)
(48,798)
(222)
{88,032)
33,248
10,632
16,773
6,171
9,350
4,447
8,377
12,462
7,958
204
127
2,696
364
177
17,244
3,776
141,370
Total funds
23,264,490
18,005,941
(19,419,339)
212,041
22,063,133
Further details of the objects of the Endowed and Restricted funds together with any restrictions on their
use can be found in the financial statements for Wycliffe College Foundation.
41

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
24.
Funds analysis - College current year
Gainsl
(losses)
And
Transfers
At1
September
2023
At31
August 2024
Income
Expenditure
Unrestricted funds
Revaluation reserve
General funds
3,139,370
18,106,780
(38,870)
38,870
3,100,500
16,840,257
17,992,032
(19,297,425)
21,246,150
17,992,032
(19,297,425)
19,940,757
Restricted funds
The Wycliffian Society
Expendable grants
Bequests and Prize
Funds
150,933
2,605
58,860
32,360
(47,776)
(31,949)
162,017
3,016
51,824
51,824
205,362
91,220
(79,725)
216,857
Total funds
21,451,512
18,083,252
(19,377,150)
20,157,614
Unrestricted funds in conjunction with the College's bank borrowing facility, are retained to provide working
capital.
Restricted Funds consist of The Wycliffian Society, various Expendable grants received during the year
and net incoming resources from Endowed Funds and Appeal Funds.
42

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
24.
Fund analysis- Group prior year
Gainsl
(losses)
And
Transfers
At1
September
2022
At31
August 2023
Income
Expenditure
Unrestricted funds
Revaluation reserve
General funds
3,178,240
20,018,329
{38,870)
31,468
3,139,370
18,668,045
15,846,586
(17,228,338)
23,196,569
15,846,586
{17,228,338)
(7,402)
21,807,415
Restricted funds
The Wycliffian Society
Expendable grants
General Endowment
Loosley Endowment
163,736
2,631
61,266
72,264
18,508
145
(85,067)
56,992
152)
150,933
78,131
61,275
{84}
51,899
276,511
95,601
141,040
63,294
77,740
36,967
72,009
103,434
70,096
1,191
1,057
22,376
3,021
1,467
188,493
33,691
1,467,520
175)
(630)
{7,176)
{2,277)
(12,253)
(282)
(180)
{3,531)
{1,386)
{5,120)
116)
114)
(300)
140)
120)
(46,503)
(3,500)
(111,430)
51,824
276,625
88,455
140,179
51,340
77,791
36,999
69,696
103,684
66,211
1,694
1,060
22,430
3,029
1,470
143,468
30,781
1,457,075
Pearson Bursary
Ward's Scholarship
J H Edwards Bequest
Sibly Scholarship
Wilson Scholarship
Selwyn Bursary
Bursaries Fund
Burnet Ward Bursary
Educational Grants
Honours Boards
Prep School Sports
Miscellaneous funds
Hardship fund
Nowak Family Fund
Keith Paget Fund
1,744
71
2,650
702
781
498
2,856
3,836
2,814
544
39
830
112
54
3,467
1,384
113,299
{1,0001
{41}
{1,2341
{4031
{4481
(2861
{1,6381
{2,2001
{1,5791
{25}
(22}
{4761
{64}
(31}
{1,9891
{794)
(12,314)
Total funds
24,664,089
15,959,885
{17,339,768}
(19,7161
23,264,490
43

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
24.
Funds analysis- College prior year
Gainsl
(losses)
And
Transfers
At1
September
2022
At31
August 2023
Income
Expenditure
Unrestricted funds
Revaluation reserve
General funds
3,178,240
19,332,310
{38,870)
38,870
3,139,370
18,106,780
15,949,719
(17,214,119)
22,510,550
15,949,719
(17,214,119)
21,246,150
Restricted funds
The Wycliffian Society
Expendable grants
other funds
163,736
2,631
72,264
18,508
{85,067)
(18,534)
150,933
2,605
51,899
(75)
51,824
218,266
90,772
(103,676)
205,362
Total funds
22,728,816
16,040,491
(17,317,795)
21,451,512
25.
Reconciliation of net expenditure to net cash inflow from operating activities
Group
2024
Group
2023
Net expenditure for the reporting period (as per the Statement of
Financial Activities}
Depreciation charge
(Gains}ILosses on disposal of tangible assets
Realised (gains) on disposal of investments
Unrealised lossesl(gains) on investments
Interest received
Dividends received
(Decreaselllncrease in stocks
Decreasel{Increase} in debtors and prepayments
(Decrease)/lncrease in creditors
Net cash used in operating activities
(1,201,357)
1,033,812
(4,750)
(9,383)
(202,639)
(2,722)
(39,704)
(2)
681,395
(140,3581
114,291
(1,415,135)
1,001,364
767
(1,212}
20,578
1942)
(34,209)
332
(279,633)
648,055
{60,035)
44

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
26.
Analysis of net debt
At
1 September
2023
At
31 August
2024
Non-cash
Flows
Cash flows
Cash in hand
Deposit
1,280,673
40,302
62,982
(3,5071
1,343,655
36,795
1,320,975
59,475
1,380.450
Creditors due In one year:
HP liabilities
Bank loan
Advance fee scheme
Creditors due in more than
one year:
HP liabilities
Bank loan
Advance fee scheme
(140,499)
{20,408)
(1,323,964)
143,935
(128,939)
(3,501,949)
1,098,571
(125,503)
(3,522,357)
(1,380,007)
{1,154,6141
(361,310}
(4,592,215)
(896,7361
128,939
3,501,949
(1,098,571)
(232,371)
(72,209)
11,995,307)
1,018,057
Net debt
(6,014,157}
66,853
{5,947,304)
27.
Company status
The Company is limited by guarantee, the amount of each member's guarantee being £1. The number of
members at 31 August 2024 was 40 (2023: 41).
28.
other financial commitments
Commitments in respect of non-cancellable operating leases are as follows..
Group
2024
Group
2023
College
2024
College
2023
Not later than one year
Later than one year and not
than five years
17,328
36,325
17,328
36,325
7.044
7,044
17,328
43,369
17,328
43,369
Lease payments recognised as an expense were £36,325 {2023'. £17,009).
45

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
29.
Related party transactions
As at the balance sheet date, the College was owed £303,912 (2023.. £271,644) by Woodpark
Limited.
During the year the College received £265,316 (2023.. £271,644) from Woodpark Limited under
the gift aid scheme and recharged administration overheads of £nil {2023.' £Nil).
As at the balance sheet date, the College owed £2,736 {2023-. £127,264) to Vvycliffe College
Foundation, a charity under common control.
No trustees have been reimbursed in 202412023.. nil) for any expenses incurred as a commitlee
member of The Wycliffian Society.
Trustees and members of key management have children attending the schools operated by the
Charity. School fees incurred by Trustees are paid on a commercial arm's length basis as
available to the general public. Key management can benefit from a staff concession that can
be available to all eligible members of staff who have children attending the schools operated by
the charity.
30.
Pension costs
Teaching Staff
The School participates in the Teachers, Pension Scheme ("the TPS") for its teaching staff. The
pension charge for the year includes contributions payable to the TPS of £711,582 {2023'.
£723,170) and at the year end £Nil12023'. £Nil) was accrued in respect of contributions to this
scheme. The Teachers, Pension Scheme (TPS) is a statutory, contributory, defined benefit
scheme, governed by the Teachers, Pension Scheme Regulations 2014. Membership is
automatic for teachers. All teachers have the option to opt-out of the TPS following enrolment.
The College went through a consultation in year regarding pensions and salaries and decided
as at 151 April to 31 August 2024, College paid TPS Employer Contribulions at increased rate of
28.68 %. College enhanced APTIS and People's Pension Contributions by 5 %. For employees
not enrolled in a pension scheme, College paid an enhancement to salary of 50/0.
The TPS is an unfunded scheme to which both the member and employer makes contributions,
as a percentage of salary - these contributions are credited to the Exchequer. Retirement and
other pension benefits are paid by public funds provided by Parliament. Valuation of the
Teachers, Pension Scheme The Government Actuary, using normal actuarial principles,
conducls a formal actuarial review of the TPS in accordance with the Public Service Pensions
{Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years.
The aim of the review is to specify the level of future contributions. Actuarial scheme valuations
are dependent on assumptions about the value of future costs, design of benefits and many
other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2023.
The valuation report was published by the Department for Education on 26 October 2023.
The key elements of the valuation and subsequent consultation are..
Employer contribution rates expected to be set at 28.6 % of pensionable pay (including
a 0.08 % administration levy).,
Total scheme liabilities (pensions currently in payment and the estimated cost of future
benefits) for service to the effective date of £278,800 million and notional assets
(estimated future contributions together with the notional investments held at the
valuation date} of £837 million, giving a notional past service deficit of £18,400 million,.
and
46

Wycliffe College {Incorporated)
Notes to the financial statements
for the year ended 31 August 2024
30.
Pension costs (continued)
The SCAPE rate set by HMT, is used to determine the notional investment return. The
current SCAPE rate is 1.7 % above the rate of CPI.
A copy of the valuation report and supporting documentation is on the Teachers, Pensions
website. Under the definitions set out in FRS102, the TPS is a multi-employer pension scheme.
The school has accounted for its contributions to the scheme as if it were a defined contribution
scheme. The school has set out above the information available on the scheme.
47