Tettenhall College (Incorporated) (A company limited by guarantee) Annual Report and Financial Statements For the Year Ended 31 August 2024 Ry%iered Number 141727 Chari4" Number i?8617 Tettenhall College A LEADING DAY & BOAROING SCHOOL FOR 80YS ANO GIRLS. AGED 2 . 18 TETTENHALL COLLEGE (INCORPORATED) (A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) Statement of Fin8nei21 Activilies for the year ended 31 August 2024 Con¢en¢s Page: Governors. o(ficers and advisers Annual Report of the Governors Strategic Report Statement ofAccounling and Rewrting Restrf)nsibilitie5 20 Independent Auditor's Rep)rt 24 Statement of financial aclivities 25 Balance Sheet 27 Cash flow Statement 28 Notes to the financial statements TeltenhAll College (Incorporate(l) (A ¢ompany limited by guarantee) Governo]N officers 2nd advisers Governors Direclors and Cbarity Trustees The Gov¢mors of Tettenhall College (*he College-) are the College's charity tn]slees under charity law and the directors of the charitable company. The Tnefftbcrs of the Governing Body who s¢rv¢d in officc as Govctijors during the year ond subscquently are delail¢d below. Mr J F Woolridge, CBE, DL. Bsc (Hons) {Chairn)an) Mrs J Parker, (Vi¢¢ Chairnian) MBE. JP. MCSP Mrs C L Hammond, BA Mr S Maddox A.B. Eng ACIOB" Mrs S J Isbisler Mr A Wynne LLB (Hons) Prof S Chung JP FCIOB MEUCS FCABE PPRtBI Mr M Caffrey BA (Hons) ACA ' {Resigned 13 September 2024) Mr T J Beech N(A Mrs R Sidhii LLB (Hons) Mr T P Brueton BA {Flons) Econ, FCA (Apwinted 3 January 2024), Mr A Gayler (Appointed 13 September 2024) Chair of Financ¢ Committc Chair of Planning & Estates Committee Chair of Education Committee Chair of Marketing Cominittee The Ex¢¢utive Comtnittec sits as required and is constituted of Govcrnors appropriate to the task. The Govemors are elected at a fiill Council of GovernoTS TT]ceting. The Council of Govemors Consists of a tnaximum of six nominated Governors and nineteen Governors appoini¢d by the Council of Governors, the nominated Governors being.. Not tnore than four members to be nominated by the United Refomied Church or its succe550r. Not more than ttyo members to be nominat¢d by the Baptist Union of Great Britain and Ircland or it5 suc¢essor. oftricers Headmaster Mr C J McAllister BA (Hons), QTS. NPQH {Headmaster) Secretary and Bursar Mr C S Way Bsc (Hons) Clerk to the Governors Mr R J Ennis LLB Company number 141727 Charity number 528617 Principal Addres5 and Registered 0￿]ce Wood Road, T¢ttenhall, Wolverhampton, WV6 8QX Website •¥.iettenhallcollege.co.uk Tettenhall College {Incorporaied) (A ¢ompany I1￿]ted by guarantee) Governors, oifi¢ers #nd adviser6 Advisers Bankers Lloyds Bank PLC. Queen Square. Wolverhampton. WVI IUE Solicitors Rees Pag¢. 8-12 Waterloo Rort Wolverhampton WV14BL Auditors Croive U.K. LLP, Black Country House. Rounds Green Road, Oldbury, West Midlands, B69 2DG Insurers Marsh Limited. Castletnead. Lower ca￿le Street, Bristol, BSI 3AG TettenhAII College (Incorpornted) (A ¢oJnpally limited by guxr*utee} Annual Report of the Governors for the year ended 31 August 2024 The Governors present thcir Annual R¢FKJrt for the year ended 31 August 2024 under the Charities Act 2011, in¢luding the Directors, and Sirategic Reports under the Companies Act 2006. together with the audited financial statements for th¢ y¢ar. REFERENCE AND ADMINISTRATIVE INFORMATION Tettenhall College was founded in 1863. It is constituted 8s a company limited by guarant¢¢ regisl¢red in England. No. 141727, and is registered with the Charity Commission under charity number 528617. Details of the member5 of the Governing Body. together with the College's officers and pr&ncipal advisers. are given on pages 2 and 3. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documents The College is governed by its Memorandum and Articles of Association. which date from 1915 and wer¢ last updated in 2009. Governing Body Tlie gov¢ming body of the College is Ihe Council of Governors. details of which, including inforniation on how the members of ihe governing body are appointcd to O￿lce, are set out In page 2 above. The Council of Governors deterniinc the general policy of the College. The day-to-day management is delegated to the Headmaster and the Bursar. Recruitment and Training of Governors Thc College's Governors are ￿p￿)Inted at full Council of Governors meelings on the basis of nominations receiv¢d taking account of the Council's specifications concerning eligibility. wsonal ¢omp¢tencc, Specialist skills and local availability. Neiv Govcrnors are inducted into the workings of thc Collcge and receive a copy of guidance issued by the Ass(xialion of Governing Bodies of Independent Schools (AGBIS) and the College's"Governanee at Tettenhall College" handb(K)k that sets out membership, memorandum and articl¢s, coniTnittce structure, ternis of reference, and pro¢edure5 including appointment and induction of new Governors. Specific training for Governors is provided by AGBIS with particular reference to the governance issues connccted ￿1th a charilable organisation. Organisational ManAgement The Gov¢mors. as the charity Trustees of the College, are legally restK)nsible for the overall management and control of the College and meet at least three times a year. The Executive Committee, chaired by the Vice Ch8imian, Mrs J Parker meets reqiiired to consider procedures such as the eleclion of new Governors, offi¢ers of the Council and apwiinth)ent of a neil" Headmaster or Bursar. The Finance Commitlee meets specifically to approve budgets and finalise the auditcd financial statements and annual report for approval by the Council, aiid al oihcr titnes as necessary. The Chairtnan of the Finan¢e Committee is Mr T Bruelon. Other prinuipal committe¢s are ihe Planning nd Eslates Committee, chaired by Mr S Maddox, the Education CoFnEnitte¢. chaired b}, Mrs J Parker and the MarL¢ling Committee chaired b) Mr A W)'nne. Other cotnmiltee tnembers are listed 01) page 2. Each of these commiiiees tneets once a terni before meetings of the Council. Sub-committee meetings are held for safegi￿rding and for H¢alth and Salety. Minu1¢5 of thcsc Tneeiings are distributed to all Governors and are reported iipon ai fiill Council meetings. Tettenhall College (Incorporated) (A Company limited by guarantee) AnJEual Report of the Governors for the year ended 31 August 2024 The day to day running of the College is delegated to the Headmaster, supported by his Scnior Leadership Teatn, of Yhich the Bursar is a membcr. Together this group are the key managetnent petsonnel. The Headmasier and the Bursar attend n)eetings of the above commitl¢es' The Head of the Preparatory School, Deputy H¢ads and oth¢r members of staff attend ¢ommitte¢ meetings as requir￿. Refftuneration is set by the Board ivith the policy objective of providing appn)priate in¢¢ntiv¢s to encourage ¢nhanced performance and of reivardlng fairly and reswnsibly individual contributions to the College's suc¢¢ss. The appropriateness and relevance of the remuneration FK)licy is reviewed annually. including rcfcrcnce to comparisons with other independent schcKJls to ensure that the Coll¢g¢ remains sensitive to the broader issues of pay and employment conditions elseiyhere. Deliv¢ry of the College's charitable vision and purpose is primarily dependent on our key managem¢nt personnel and slaff costs are th¢ largest singlc eletnent of our charilablc cxpenditure. College Structure alld Relitionship5 The College actively supports the attainment of the highest Standards in the Independent Schools sector, partly throiigh n¢tworking with other schools and partly through peer group studies for the evaluation of quality and perfomlance improvement tnethods. We co-operate with many local organisations in our ongoing endeayours to ividen public access to the schooling we can provide, to oplimise the educational us¢ of our culiurnl and SFQrting facilities and to awaken ui our pupils, in the public interest, an awareness of the so¢ial context of the all_round edu¢ation they receive at the College. The College &150 ￿nefItS from the generosity of a thriving network of Old T¢ttenhallians ivhose close sup]x)rt we greatly appreciate and gladly acknowledge. The College also has a strong relationship i*ith a dedicated Parents and Teachers Association who both support and rnn events for both pupils and parcnts a5 well as providing funding for arca5 of the College they wish io support. Governance In line with generally accepted best prnctice for corpordte governance, rcgular reviews ol the Board's range of skills and financial and other Controls and procedures are undeEtsken as 'goveniance audits, to confiTTn that Goveri)ors mainlain the necessary pe￿O￿al competence in each case and also that the Board protocols for managing any emerging conflicts of personal int¢rcsts remain fully effective in praclice. Tettenhall College {Incorpordted) (A company limited by guarantee) ADDual Report ofthe Governors for the year ended 31 August 2024 Employment Policy The College is an equal opportunities employer. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employfflent needs. Consiilialion wilh ¢mploy¢¢s, or their ￿preSentatIVes. has continued al all l¢vels with the aim of taking the views of etnployees into account when decisions are made that are likely to atYe¢i their interests. Etnployees are made aware of ihe finaiicial and economi¢ performan¢¢ of Ihc College. Communication with employees continues through rtornial managcment channels in a variety of fom)s and a150 through ¢x¢¢plional channels to appri5C staff of current issues. Investment policy and objectives Thc Collcgc's invcsttncnts amounted to £133.090 ￿ 31 August 2024. Th¢ investment objective5 are-. reviewing the investm¢nts annually to determine if they provide the best use of resources for the current demands of the College- if possible. maintaintng (ai leasl) the value of the investtnents in real ternis. producing a consistent and sustainable amount to supwrt expendttur¢' and delivering these objectives ivithin acceptable leve15 of risk. To m¢¢t th¢s¢ objectives, th¢ Coll¢g¢'5 invcstmcnts arc managed to maintain diversification across a range of assct classes in order to produce an appropriate balance bettveen risk and return. The investment strategy and policy is monitored by the Finance Committee. as is investment perfornianc¢. AIMS, OBJECTIVES AND ACTIVITIES Charitable Objects The College's Objects, in accordance with it5 Memorandum of Association. are the advancement of education, in¢luding the provision of boarding andlor day schooling for children of FM)th sexes. The College maiiitains Iinendowed trust fLinds and resiriLled funds of modest proportions lield for spe¢ial puriN)ses in LonneLlion with the dcveloptncnt of the Collegc's facilities as well as for scholarships. bursaries. prizes and other ediicational piirwses. Mi55ion and Vision Value5 The comerstone of our community is our vision to be the School of choice for oulstanding personalised education. inspiring every. piipil to excel acadetnicall), and be)'ond. Our mission 15 to nurÉur¢ our pupils to achieve thcir full potential and discover their iinique talents in an educational settin¥> ii,here ihey ivill thrive and be happ).. Our exceptional slaff motivate Plipils to embrd¢¢ challenge, giving theTll the best preparation for life and personal success. Our core values in¢liide'. Arllbition The College strive5 for excellence in every aspect of its work and has high aspirations for the piipils. Resilienve is encouraged by embracing mistakes as learning opp)rtunilies. Tettenhall College {Incorporated) (A company limited by guarantee) Annual Report of the Governors for the year ended 31 August 2024 Opportunity The College foslers self-belief and provides academic challenge. personalised supwrt and a breadth of learning OPTX>rtunilies. Creativity The College has the freedom to adapt its ¢dU￿tiOn to find the most effective way to meet thc pupils, needs. The College recognises that nurturin8 creativity is vital in today's world. Community The College has a safe and secure family environment thn)ughoul our School. It look5 to promote shared values and respect for each other. The College equally ivant pupils to look outivards, acl responsibly and become Yalucd global citizens. Character The College Clkliivates emotional intelligence, well_being and self_respect and encourag¢s support for ¢ach oihcr. The college leads by example to promote healthy and balanc¢d lifesty'les. ntended impact Within its charitable Objects, the College's intention is to provide a first-class education thmugh strong acadeinic tllition and by developing broader skills that enable every pupil io realise his or hcr potenlial to the full. This iTtvolves emphasis on the cwurriculuTn through cerebrdl, sporting, artistic, team building and social skills. This objective builds self-confidence and life skills in our pupils and inculcates a de51rc to leam and a willingness to conlribiite to the wider commlinity iyhilst at School 8nd in13ter life. Aims In meeting ihe Objects, Ihe Council of Governors, public benefil aim is to provide a first-cla55 independent ediication, both through strong academic tuition, and through developing wider sporting, artistic and social skills in all our piipils Irom Ihc agcs of 2 10 18. This is intended io provide an environment Ivhere each pupil can d¢v¢lop and fulfil his or her polenlial. in order to help build self-confidence and inculcate a lifelong desire to contribute to the iyider community.. In the furtherance of these aims the College's Governor5, as the charity Trustecs, have complied ivith the duty in s.4 of the Charities Aci 2011 to Iiave due regard io the Charity Commission's published 8eneral and relevant sub-sector guidance concerning the operation of the Public BeT]efil requirem¢nl under the Act. TetteDhall College (Incorporgted) {A company limited by guarantee) Annual Report ofthe GoverDO73 for the yearended 31 Augu$¢ 2024 Objectives for ihe Ye#r The aim of the Gov¢rnor& Headmaster and Senior Leadership Team was to build on the solid foundations laid over the past feiv years and focu5 on recruitment and r¢tcntion of knth I￿rding and day pupils so as to return to pr¢- Covid pupil numbers as quickly a5 w￿Sible. The Govcrnors arEd Headmost¢r are deterniined to make Tettenhall College the school of choice in th¢ area by continuing lo focus on its strengths. The refurbishment of the Boys, Boardtng House has provided a modern and comfortable living and sleeping space for all boarders and thc aitn is to ￿¢TUIt boarding pupils to achieve near full o¢¢upancy. Within this we aim to recruit younger boarders and ¢n¢ourag¢ a diverse range of boarder's nationalities. Additional objectives were to: Maintain the s¢h(K)I's high level of academic F*rformance and sports achievement; Continlie to provide public access through scholarships and means *sted bursaries: Continue to d¢vclop mutually Sup￿rtiVe links with othcr schools in our locality and encourage further community ac¢ess to our facilities both inside and outsidc of norn]al sch(K)I hour5" Contiiiue to build on the lessons learned regarding remote learnrng during the Covid-19 outbreak and improve our provision further to ensure ive are ready equipp¢d in case of futu￿ ouibreaks. To continue to itnplcment a proactive marketing campaign to raise the Sch￿1,$ profile both locally and overseas. in order to se¢ a significant increase in Ix)th day pupils and knaAl¢r5" Increase the number of bed spaces in boarding accommodation lo be abl¢ to m¢el deTnand- Itnprove the facilities ai the College. including the Swimming P￿1 and new tT facilities. Look to neiv overseas markets and an increase in the boarding population at the College- and Continue to progress the restordtion ofthe Toiv¢rs Building and renovalion of internal spaces to meet increasing piipil detnand. Progress was made on m05t of these d41ring the )'ear as delailed beloiv but a5 they ar¢ all long lerni ainis they continue lo be part of the obje¢iives foi the future a5 Set out on page 17. Strn¢¢gies ¢0 achieve the primar). objectii'es Our strategy aims lo achieve the highest academic p¢rforn)ance by providing a Siimulating learning environment in whi¢h all pupils can develop their w)tential to the full. Cultivating a ivell-rounded development of the personality in our pupils was commensurale io this through provision of a happ! and sectjre pastoral ¢nvironmcnt. Pupils are encourdged to foster a sense of coniinunity, respect For each other and good citizenship. We l)ad detennined to i%'iden public access to our system of schoolinb as much as possible ithin the conslrain(s of our funding as an independent education provider. Wiihin this Swdtegy continue lo host an aclivity-ba5cd Teltenhall College (Incorporated) (A ¢ompany limited by guarantee) AnDual Report of the Governors for the year ended 31 August 2024 summer school and to iVOTk with local community charilies and oth¢r local schix)Is to make more eftreclive use of the College's facilitie5 outside 5ch(K)I hours. Our strdtegi, also encourages pupi15' involvement in extra-¢urri¢ular activities with a focus on the provision of public benefit at all levels of society. Wherever possible, w¢ try to keep irt touch with our alutnni as the), progress through life at home and overseas, both as Old Tett¢nhallians and a150 through ￿p￿al5 from time to time and in other ivays, ai)d by thesc means ive ar¢ able to assess the extent to which our help has ¢nabled them to make a worthwhile contribution to public life. A key objective for futur¢ growth 15 the recruilment of ncw pupils and the JEtention of existing pupils. Marketing and admissions procedures provide grcater engagement wTrth pro51￿CtIve parents and an increase in the level of enquiries. Significant time and effort continues io be expended on the recruitment of oveTseas boardeTS and this will continue in the coming years. Boarding numkrs during the y¢ar iv¢rc I0￿Er than in previous ycars due to the Covid r¢striciions, hoivever, it is anticipated that P05t Covid the boarding numbers will increase. The improvement in the Boarding House facilities has provided the comfortable living and Sleeping spac¢ for all boardcrs which is now more attractive for potential sthdenls. W¢ have started to mak¢ positive progress in new overseas markets through ¢uliivalion of long-standing relationships with the D]r￿tOr ol Admi55ions. This has proved to be effective especially in Central and Latin America a5 lyell as Nigeria. PriDcipal Aetivity 1 cttenhall College is a su¢c¢ssful co-educational, independeni day and boarding school for pupi15 aged 2 to 18 years that attrd¢ts pupils from the UK and from overseas. For the period of thi5 r¢porL tlie College comprised The Preparatory School, ¢al¢ring for children bet%i'een the ages of 2 and E l years and Senior School catering for ages I I to 18 years. Publi¢ Benefit The governors havc complied ii'ith their duty to have due regard to the guidance on public benefit published by the Cliarity Comtnissioti. Tettenhall College remains committed to the aim of providing public benefit in accordance vith ils founding principles. Charit), laiv has introduced a requirement to demonstrnte that public benefit for haritable purposes iyhere it has hitherto been presumed in the absence of evidence to the contrary. This calls in turn for more detailed disclosures con¢¢rning our aitns. The awarding of bursaries for Ihe needy is a measurable megns of providing public bcncfit. Th¢ Council of Governors. takes the vieiv that bursaties awarded to those iyho ivould not otheti%'ise be able to afford the fees are itnportant, but not to the exclusion of ihe tniich ivider benefit that the College provides ivithiii tlie community. Those pupils who attend our School and ii.ho receive financial support contribut¢ lo th¢ School coinmiii)ity in a variety. of ivays, and so the b¢n¢fit is not purely to these pupils bul to the whole College and. in some cases, to the vider community. This year, the value of means tested bursaries il'as £57i.3?7 %vhich equates lo 6ty/0 of school fees {2023.. £584.468 9% )- The Cjovetnors, policy. in line I￿1th that of other Indepcndent Sch(M)Is, 15 to make these awards oli tlic basis of the individual's cducational potential, contribuiion to the ivider school conimunity and their financial circumstanLes, siibject to the particular conditions imposed b). the original donor ii,here the aivard is oul of iestri¢tcd funds. 96 pupils attended the Coll¢gc on means tested bursaries. In total l O I piipils iv¢re in ￿¢t1pl of scholarships of £488.772 ivhich ¢qLtates to 5•/0 of school fees12023: 86 pupils, £410,042, 60/0)- In addition, financial a55iStance M'as awarded to 3 children of personnel in the Armed Forc¢s. A Tettenhall College {IDtorporated) (A comp#ny limited by guarantee) Annual Report of the Governors for the year ellded 31 August 2024 further l overseas students received financial supFxJrt from the College via thc D￿5den scholars Scheme and 2 from the HMC and Polish s¢h¢m¢s. Tettenhall College is committed to playing a full part in supporting l(ul wmmunity groups and lo d¢velop mutually beneficial partnerships wherever possible. Such initiatives have included: The College opens its srK)rts and other facilities to many local individuals. organi5ations, religious bodies and charities including the sports facilitie& swimming p()ol. theatre and classrooms; Working iyiih local stste schools to d¢v¢lop mutually beneficial link5 in the areas ofsport music and draTna. Th¢ Coll¢g¢ has fftadc the Swimming pwl and forest school availabl¢ to oth¢r s¢hools on a not-for-profit basis- this has included collecting and returnin8 childTtn in the College's own minibuses. Inviting I￿al schools lo use thc library facilities- McmbeT5 of stsff and piipils contribute their time voluntsrily lo a numlKr of charitable causes such as Macmillan Cancer Support. Children in Need. Give as you live. Acorns Hospi¢¢, Carers Anonymous, Elle's Angels. Comic Relief. Compton care. Ukrainian charities and Summer camps and events ihai a￿ open to the local ¢ommunity. Beneficiaries Our immediate beneficiaries are young people ivhose attendance at our fee-paying school be fund￿ by parents or guardians or else from scholarships. bursaries or other fonns of charitable grant support, or a combination of these. The local Lommunity also b¢n¢fits from appropriate access to our facilities. The general public are the ultimate beneliciaries of our hi¥h-quality educational system and the greater awareness of s(Kial values that il gen¢rat¢s in our alumni. We maintain close liaison behveeTt parent5, guardtans and teachers, as ivell as iyith Old Tettenhallians in later life, and also i?ith l(Kal charilics that could benefit from our faciliti¢s. By this mcans ive are able to ensure tl)at thc schooling we provide is always 'fii for purpose, in the context of pr￿nt-daY S(￿Iety. Wc also beTrchtnark public opinion on the standing of our school in relation to the wider edu¢alion system, witli a vieiv to fine-tuning the public benefit ive can provide in keeping iyith the perceived needs of so¢iety al large. Volunteers -rhe Governors are immensely grnteful for the manifold ￿'0]Unt#￿' aclivilie5 undertaken by the Parents, Associatioii in order to help ivith th¢ School fundraising and cultural actil'ities during the }'ear. The Governors would like to take this opportiinity to say hoiv muLh Ihc). apprcciate Parents Association continuiiig and valuable support for our work. 10 Tettenhall College (Incorporated) (A eompany limited by guarantee) Annual Report of the GoverDOtB for the year ended 31 August 2024 STRATEGIC REPORT I￿ARKETING STRATEGY The School has worked hard over the last thr¢e years to develop its marketing straleg). lo promote the Sehool's purpose to educate and develop confident )'oung people who are equipped to lead, inspire and make a w>sitive contribution diiring their time at Tettenhall Collcgc and their lives beyond. Our positioning statement is that Tettenhall College is an inclusive school with traditional value5 and a global dimension. situated on an outstanding historic green field sit¢ with exccllenl faciliti¢5- Ivhere ihe cdu¢ation of the whole child comes firsl. A range of day, full and flexible boarding option4 and the most convenient transport services. lo fit ivith family, life and ivork. supports this. We are now seeking to a¢hieve a tniich higher profile as a fiTSt-¢lass school dclivcring educational excellencc and itnprove market penetration in our key markets across a wider gcographic ar￿ with a strong vision for th¢ fulurc and clear messaging. After recent sLiccesses in which numbers have risen our aim is to create a clear markeling strategy to increase markel share in the next Ihrce years, building numbers. particularly in da). schooling, to 5UP]K)rt a business Tnodel to ensure a secure futt]re for th¢ College. The Rim of this work is to.. Increase pupil numbers ovcr the next three years and achieve an appmpriate balance of day and boardin¥ pupils. Diversify knarding nutnbers by recrniting pupils from a wide range of countries. Create a framework for marketing and admissions at Tettenhall College that is fit for purpose to meet current trends in thc marketplace, and which ¢an be develo￿d and adapted to meet changes in demand in future. To provide a plan to roll out a new vision for the College. rdising its profile in its catchnient and building on its key strcngths We are seeking to address the folloiving factors that are critical to su¢¢ess: A significant improvement in Trtcnlion. esp￿lalIY in the Preparatory School loiver years and Year I l. Addressing the da}, and ovcrs¢as boardino imbalance in the sixih fom and sixth fom size. Improving recrnitm¢nl itl thc 45-minute catchment area; Miich clear¢r messaging aErf)ul the Sch￿1,5 Position in ihc markctplace- Addressing Ihc pcrceptions inside and oul5id¢ Ihc School about academic drive and rigour. Incrcasc thc profile of the School i*ithin nciN" overseas markets. Iniprove our digital presence boih ivithin the UK and overseas. Teltenhall College (Incorporated) (A Company limited by guarantee) Annual Report of the Governors for ibe year ended 31 August 2024 ACHIF.VEMENTS AND PERFORMANCE Academic Suce The principal ev¢nt of thc 202312024 academic y¢ar ivas the ISI inspection that took place in February 2024. The 2019 insp¢clion set out several areas for improvement within the academic framework. Re¢ommendatlon$ 33 The school Is athlsed tomake the foJlowlA8knFYOw￿nts. Plan more oprAirtunltles for ell puplls to debtk)p thelr Wer-order thlnkln8 skllb. Improve systems to hdp wplk understand fv)wto knwo¥e thelrown learnl The 2024 report demonstrated Significant improvement in thesc areas and the ISI report highlighted provision within this area.. 28. Teachers utllise their specialist subject knowledge and awareness of pupil< needs to plan lessons with a range of activities whkh actlv8ly engage with thelrlearning. The well-chosen teachlng strategies Coupled with individtsal supKK)rt are effective in supportin8 pupils of all abilities to make good progress. For example. in English, te￿herS encourage and questiofi pupils deeply to develop their linguistic skllls. As a resuIL puplls dtholop their use of detail and extend their ¥￿tabUlary. 29. Since the previous inspection, the school has increased the focus on higher.order thinkln8 skllls in lessons and further challÈn8e1s pfovKled vla the scholars, programme which includes the Extended Project Quallflcatlon and the Hi8hef pr￿ect Qualification. Systems for helping pupils to undeistand ow to Improve their answers have atso been improved. Feedback from teachers15 successful in enabllng pupils to Identlfy the next steps In thelr leaml The above is teslamenl to the hard work of the staff in d¢veloping frameworks within l¢sson5 to plan cx¢ell¢nt lessons, underpinncd by a sound understanding of the needs of pupils. The CPD, botli internal and external as well as the d¢velopmenl of the QA processes have allowed the slandard of teaching and learning to iTnprovc and develop the higher order thinking skills. The changes to the academi¢ monitoring 5y5tetn and the new departmentsl approach to marking poli¢i¢s have been highlighted as areas of sÈr¢ngth within thc Scnior School. This has allowed pupils to understand how lo improve their own learning. The new approaches to data ¢olle¢tion and interpretation have kgun to come to fruition with the ISI report COmTnenting'. 30. Leaders usè pll￿1 data Informatlon and the results of ie8ular assessments to check and tfèck that the progress puplls, make is good. Leaders and teachers use th￿ Information to tailor provlslon and to develop appr¢)priate Strate8ies where needed to enable pupils to raise thelr attainment. These strategies include academic menloring and extra subject support sessions. The current assessment and reportin8 procedures are not clearly underStoL￿ by pupils and paren 12 Tettenhall College (Incorporated) (A company limited by guarantee) Annual Report of the Governors for the year ended 31 August 2024 3. Leaders and teachers use data effectively to analyse the progress pupits are maklng and to develop appropriate strategies where needed to enab￿ pupils to raise their attainment. Pupils make good progress Induding those who have special educat¥Jnal needs andlor disabilitie5 ISENDI. Progress and attalnment are reported regularly to parents. However. there is a lack of dartty and consistenc In some of the rewrtlng grades used so thè informatlon is not easity understood by pupils and paren1& In l¢rnis of the recomm¢ndations from th¢ ISI reIKTrrt regarding KS3 assessmenL the framework for this is well underway and has launched in ihe 202412025 a￿demiC year. GCSE results in 2024 demonstrated an excellent level of outcomes for our pupils, especially in the context of a decline in the national trend level. Overall pass rates stood at 88.2ts/0. Overdll, 9-4 pass ratcs are the higyhest since the 2015 reforni of GCSEs and are the hÉgh¢st P￿rfornian¢c outcomes in overall pass rates in over a decade. Compared to national averages, Tettenhall College achieved 22 percentage ]x)Ants abov¢ national avcrages in the 9- 4 range and 8 percentage points aEK)ve the national averdge in thc 9-7 range. Given the overall national trends. this vas a very imprc5sive set of results. A Level student results saw an ovcrall pass rdte of 94.40/0 With 28.20/0 of grades being within the A¥_A (national averagie 27.60/0) and 48.7% ivere iviihin A*_B. When compared to the 2023 A Level Results, across all A*.C melri¢s there has been a significant l¢v¢l of improvem¢nt. A* A increased by citta 5 percentage points, A* B by 9 percentagc points and A*_C in¢reased by nearly 14 percenthge EK)ints. The College is proud of the diverse and impressive rdnge of higher edu¢alion institutions and courses that our pupi15 have been able to progress to in both th¢ Unilcd Kingdom and %Yorldwide. Boarders, Outing5 A busy and varied range of boardcr's outings again took place ihrou¥hout the year. The trip to Oxford saw boarders immersed in history and culture as they explored this beautiful city. Boarders also experienced go- karting, paintballing and day trips to places of iTJlercst far and wide including knth London and Manchester. Charity Fundraising A number ol charitable events took place during the )'ear and received thc nornial ii,holehearted support of the Tettenhall College Community. A Christmas Jumper Da), il'as held and raised £429, ￿1th the proceeds being split b¢twccn Compton Car¢ attd Macmillan. The annual Christmas "Santa Run" also t(x)k plac¢ with many members of the wider School community participating with the aim of raising funds for good causes. Performing Arts Thc Christmas Concert 2024 featured many of talented pupils perforniing solo, duet and enscmble pieces beautifully and with musical sensitivity.. Larger ¢nS¢Tnbles included ihc Guitar Group. the Colle¥e Orcheslra and both the Pr¢paralory and Senior Choirs singing what iver¢ increasingly ambitious pieces. In Dec¢rnber the College Comynunit). iiere back in the beautiful setting of St Michael and All Angels C.Iiiirch for the annLial Carol Service in the last %%"eek of iemi. The Preparatory School ii.cre iii excellent voice as they pre￿ilt¢d a varici). of Christmas Carols and fcstive songs. tradilional and contemporary. Tlie}' Ivere assisted by the joint Preparatory and Senior Sch(K)I Choirs who delivered mature. committed perfornianc¢s of Christmas choral pieces. Th¢ annual Christmas Play ivas "Grimm Tales" and this played to packed audiences over 3 nights. As alivays, the perfomjances by the cast iiere exceptional and shoiN"ed ihc dcpth of tslcnl at tlie Colleb)e. The Senior Scliool musical li.as 'Brenda Bly: Teen D¢tcctii'e and once again a stellar ¢ast frotn across the Senior S¢hool and Sixth 13 Tettenhall College (In¢orporAted) (A colnpany limited by guarantee) Annual Report of the Governors for the year ended 31 August 2024 Forni performed admirably to a full theatre evcry evening. In the Summer Tern) the Preparatory School perfornied "Oliver Jnr" Ivith every cast m¢mlKr turning in a perfomiance beyond their years. Sports S￿rtIng provision continues to be driven by the aim to develop personal fitDess through participation for all in the School and continues lo build and develop pupils by means of a strong fixture list ettabling the tnaxiTnum number of pupils to represent the SLhLK)l in individual and team sports. Increasing us¢ of spccialist coachcs have played & significant part iT] iwnproving the performance ofthe Sports. deparlment's success. Squash Academy members are working through thcir Development Awards Junior Skills Programme. With cach level buildittg on cxisting skills and offering mor¢ challenging tasks, pupils are developing their hand to eye coordination, ra¢kel skills and ball control. Considering tactics. strategy and challenging their understanding of the game has h¢lped them grow as play¢r5. Health & Wellbeing 11]e Surgery t¢am ivere exceptionally busy throughout the year, managing iK)th ph)'sical hcalth matters and providing support around mcntal health and wellbeing. A nwnber of initiatives are run lo help pupils with their mental health including a lunchtime "ketchup club" whi¢h is available for pupils to talk to qualified staff about their mental health issues. Pupils also havc access to an ind¢pcndcnt counscllor and an independent listener. Tower6 Restoration Thanks to a very generous donation, work continued of the compl¢le r¢placem¢nl of thc Towers roof- this is the first step towards a coTnpletc restoratton of the outside and inside of Ihe building. The Welsh slate originally used to cover the roof had been 'turnerised" and ruined, n¢¢essilaling its r¢plac¢meT]t ivith new slate. This has also reqiiired large arcas of flat roof to be recov¢red together ivith th¢ installation of n¢w l¢adwork and associal¢d roof details. Whilst scaffolding has been ¢rer￿d the opportunity has IKen thken ￿ replace large areas of damaged render and repair stoneii'ork. Th¢ final phase of work of the roof 15 planncd to commence around May 2025 and it is anti¢ipalcd that ihis will be compl¢tc by the end of tkccmber 2025. 14 Tettenhall College (Incorporated) (A company limited by guarantee) A￿nual Report of the Governors for the year ended 31 August 21124 FINANCLiL REVIEW Results for the Year Th¢ Collegc's total incoming ￿soUrCeS for the year amounted 10 £9J53.238 (2023.. £8."578.048). The net surplus for the year was £744,234 (2023.. £868.66S) as shoivn in the Statement of Financial Activilies. Th¢sc rcsults shoiy the impact of the inflationary pressures during the year. The results have been improved by the donation toi¥ards the cost of replacing the Towcrs RIK>f. Reserves Policy The Governors hav¢ Considered the reserves held by the College at 31 August 2024. The College ne¢d5 reserves both to enable it to progress its long terni aims and to fund its current activities. The Govemors have examined the needs, risks and challenges faced by the College in both the short and medium lerni, along with relevant fi1)ancial forecasts and have forniulated a tK)licy to meet thes¢ needs. The long-ternj aim is to ensure that th¢ amount of tlie unrestricted funds equates lo the slim of.. Planned or anticipated future commitment5 to capital projects Financial commitments made but nol yel entered into Planned investment in educational initiatives Credilors due in less than one year Salary and ￿lated costs for one month to ¢over Cashflow and contingency requirements The College's total r¢5ervcs of £5,758,289 at the year-end included £164,730 endowment capilal, £1,492,677 restricted funds and £4,100.882 unrestricted income. There are no cutTeni free reserves (Iinrestricted funds less ihe net bo()k value of fLxed assets financed by those fund5). The Governors review th¢ reserves position annually and consid¢r that the future plans outlined on page 17 ivill lead to an increase in reserves in the future. Against this background, ￿gUlar nieetings ivere held between the Chaiman of Governors. Chair of Finance, Headmaster, Biirsar and Finance Officer to agyree a¢lions to thke and review progress. The focus has been on cash availability and hoiv to preserve thi5 Iviih additional support frotn the bank io cover any shortfall. Going Concern Une¢rtainty within the Independent School Sector means that there 15 material uncertainty, around pupil numb¢rs and fee income and as such the Governors a¢c¢pi that ihcrc is a material uncertaint). as to iNhether the College Can continue io operate as a going concern. Despite this the Governors confident the College will be able to ¢ontinu¢ to opcrate in the next 12 months ai)d therefore continue to adopt the going concern basis in preparing the financial sthteJnents as outlined in Accounting Policy Note 2.1. Investment Policy and Objeetive5 Poivers of inve5ttn¢nt are regulated b), the Memorandum of Association and administered bs, the Governors. The investment objective is to maximise over811 return, iihilst achieving an appropriate level of income. Tettenhall College (Incorporated) {A Company limited by guarantee) Annual Report of the Governors for the year ended 31 August 2024 Freehold iAnd and Buildings In the opinion of the Governots. the Tnarket value of the Coll¢gc's frcchold land and buildings is in cx¢¢ss of the amount at which it is stat¢d in th¢ balance sheet. However. the amount of the exces5 over net book value has not been quantified. Charity governance code 'rhc Trustccs arc aware of the new charity gov¢rnan¢e Code issued in July 2020. In order to ensur¢ that the charity is working in line with the code, in all ivays ii,here it is practicable to do so the Governors have begun the process of reviewing and discussing this at Coun¢il meetings. This will b¢ ongoing. The charity had no fundrdising a¢liviti¢s requiring disclosure under S162A of th¢ Chariti¢5 Act 2011. Detailed considerations of risk are delegated to the Headmaster. who is 8ssisled by Ihe Senior Leadership Teatn. Risks are identified, assessed and controls established throughout the year. Key controls used by the College include= Fornlal agendas for all Committee and Council aclivity. Detailed ternis of reference for all Committees" Comprehensive strategic plannin& budgeting 2nd management accounting- Established organisational strncture and lines of rewJrting- Fornial written ￿)licIes. Clear authorisation and approval levels. and Vetting procedures as required by law for the protection of th¢ vulnerable. The Governors have identified and discussed the principal risk5 faced by the College in¢luding: Thc rccent wonomic uncertainty and downturn" Political factors that may threaten business Tates relief and V AT on school fees- Pupil demographics- Academic results, standards and reputstion- Fee levels- Increased contributions to the T¢arh¢r5' Pcn5ion Scheme= Credit availability, liquidity and cash flo1￿ forecasts= and Future developtnent plan5. Through risk mana¥ement processes established for the College, the Govemors are satisfied that the tnajor risks identified have been adeqLlatel)" mitigated iN"here necessary,. It is re¢ogniscd that systerns cali only provide rcasoiiable but iiot absolute assiirance tliat major risks hai'e been adequalel). Inanaged. The Govemors regularly review the effectii'eness of ciirrent plans and strategies for managing all idelltified major risks. 16 Tetlenhall College (In¢oryornted) (A company limited by guarantee) Annual Report of the Governors for the year ended 31 August 2024 FUTURE PLANS The aim of the Governors. Headmaster and Senior Leadership Team is to ensure the continuing financial slability of the College in the face of a number of challenges. Not least of these is the itnwsition of V AT on School fees although the College has done evet)ohing it can to minimise the impact of this on fee-paying parents. Aloi)gside this is the fortheoming removal of business rates relief, ivtcreases in etnploycr Rational insurancc contributions and increases to th¢ national minimum ivage. Much stralegÉc planning has been und¢rtak¢n to miligale the effect of these increases as far as possible. The Governors and H¢adma5ter are delennined to make T¢tt¢nhall College the s¢hool of ¢hoi¢¢ in the area by continuing to focus on its strengths. The totsl refurbishment of the Boys. and Girls. Boarding Holl￿5 have provided a modem and COTnfortable lÉYing and slccping space for all boarders and the aim is to recruit boarding pupils to increas¢ th¢ boarding tK)pulation at the Sch(M)l. Within Ihis we aim to recrllit younger boarders and ettcournge a div¢rs¢ range of boarder's nationalities. In addition. we will: Maintain the school's high level of academic perfom]ance and sw>rts achievement. Continue to provide publi¢ access through scholarships and means tested bursarie5" Rcmain competitive with l(Kal schools OD pricing bul ivithout adversely effecting the high level of academi¢ and pastoral provision: Continue lo develop Mutt￿11y supportive links with other schools in our locality and encourage further community access to our facilities both inside and outside of norrnal school hours- To continue to implement a proactive marketing campaign to raise the Schi)ol's profile IK)th locally and ov¢rs¢as, in order to see a significant in¢r¢asc in both day pupils and boarde￿. Improve the facilities at the College, in¢luding the Swimming Pool and new IT faciliti¢5' Increase Capacity in Nursery and Pre-school to improv¢ the pupil pipeline- Look lo new overseas markets and ￿ increase both i￿￿ing numbers and diversity at the College; and Coinplete the restoration of the Tower5 Building roof and eontinue to plan the renovation of internal spAces lo mcet increasiiig pupil demond. 17 Tettenh411 College (Incorporated} {A eompany limited by gurautee) Annual Report of the Governors for the year ended 31 August 2024 STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES The members of th¢ Governing Body (who are also ihe dÈrectors of Tettenhall College for th¢ purpos¢s of ¢ompany law) are resw)nsible for preparitkg the Annual Re]x)rt and th¢ financial statem¢T]Is with applicablc law and United Kingdom Gencrally Accepted Accounting Pra¥(ice (United Kingdom Accounting Standards). Company law requires Ihe Governing Body lo prepare financial ststements for ¢ach financial year. Undcr that law the Goveming Body have elecied to prepare the financial statements in accordance ivith United Kingdom Generally ALeepied Accounting Prnctice (Uniled Kingdom Accounting Stsndard5) Jnd applicable law. Company law require5 the members ofthe Governing Body to prepare financial ￿atements for each financial year. Under company law the Governing Body mcmbers must not approve the financial slatetnents uiiless they are satisfied thit they give a tnte and fair vieiy of the stste of affairs of the charitable company and the group and of the incoming resources and application of r¢50urces, including thc in¢oJll¢ and ¢xpcttditure, of tlie charitable group for that period. In preparing ihese financial slatements. the Governing Body membets arc required to.. sclect the most appropriate accounting wjlicies and then apply them ¢onsistenily" obserye the Tndhods and principles in the Charities SORP; make judgments and accounting csttmates that are y￿SOnable and prudenL slaie ivhether applicable Accounting Stsndards have been followed, subj￿1 to any material departur¢s disclosed and explained in the financial statements- and prepare the finan¢ial slatemenls on th¢ going concern b&sis unless it is inappropriate to presuTne that the charitable company will continue in business. The members ol the Governing Body are restK>nsible for keeping adequate accounting records that are suffici¢nl to show and explain the charitable company's tI￿SaCtIOnS, disclose witli reasonable ac¢urn¢y al any time the financial position of th¢ charitable company and enable them io ensure that the financial statements comply with the Companies Act 2006 and the provision5 of the charity's constitulion. Th¢y arc also responsible for safegiiardin&i the ass¢ts of the charity and the group and hence for taking reasonable steps for th¢ prevention and detcction of fraud and other i￿¢gUlarIties. Relevant Audit Infonnation Iiisofar as eaLh of th¢ Directors, as memkrs of the Goven)iiig Body, al the dale of approval of this report is aivare there is no relevant alidil inforniation (infomiation needed b). the Company s auditor in conneclioii ivitli preparing the audit rcport) of ivhich the Company's audilor is uftai&are. Each rneniber of the Governing Bod}. has taken all the steps tliat he or she should have taken as a member of the Governing Body in ordcr to make l)imself or herself V¢ware of the relevant audit infonnation and to establish ihat th¢ Company's auditor is aivare of that inforni&tion. Auditors Crowe U.K. LLP has indicatcd its Iv"illingness to IK reappointed as statutory auditor. 18 Tettenhall College (Ineorpornt¢d) (A company limited by guarantee) Annual Report of the Governors for the year ended 31 Aug￿51 2024 Approved by th¢ Governing Body of Tettenhall College on 2025, including, in thcir capacity as comp irectors, a proving the Dircctors. and Strategic Reports conlained therein. and signed on its behallby: JFWO Iridge Chairman 19 Tettenh211 College (Incorporated) (A company limited by guarantee) Independent Attditor's Report to the Members of Tettenhall College ￿nCorpOrated) Opinion We have audiled the financial slalements of Teltenhall College {Incorpordted) (the "Charitable company-) and its subsidiary {the "group") for th¢ y¢ar ended 31 Atjgust 2024 which comprise the consolidated statement of financial activities, consolidated balan¢¢ sheeL consolidated cash flow 5tatetnent and notes to the financial statements, including signifi¢ant accounling wjlicies. The financial rcporting frameivork that has been applied in their preparation is applicable law and Unitcd Kingdom Accounting Standards, including Financial Rcportin& St￿]dard 102 The Finan¢ial R¢porting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted A¢¢ounting Pra¢ti¢¢). In our opinion the financial statements: give a true and fair view of the slate of the group's and thc charitable company'5 aftair5 a5 at 31 Aiigu5t 2024 and of the group's inroming resources and application of resources. including its in¢ome and expenditure for the year then ended. have been properly prepared in accordance with United Kingdovn Genernlly Acccptcd Accounting PracÉice' have been prepared in ac¢ordance with the requirements of th¢ Companies Act 2006. Basis for opinion Wc conducted our aLidit in accordance with International Staudards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further descrilKd in the Auditor's responsibiliti¢s for the audit or the financial statement5 section of our report. W¢ art indcpcndent of the group in accordance ivith the cthi¢al requiremenls that are relevant to our audit of the fmancial slatements in the UK. including the FRC'S Etliical Standard, and we have fulfilled our other ethical responsibilities in accordance ￿1th Il)¢se requirements. We believe that the audit evidence we hav¢ obtained is sU￿1Cle￿I and appropriate to provide a basis for our opinion. Iaterlal Mn¢ertalMty' related ts golng concern We drdw attention to note 2.1 in the financial ststementy which indi¢ate5 th¢ conditions id¢ntifi¢d that may casl significant doubt on the Charity's ability io ¢oniinuc as a going concem. As sialed in note 2.1, these events or conditions, along ii'ith the other matters as set forth in note 2.1, indicate that a matcrial uncertainty exists that may cast significant doubt on the Charit) s abilil), to conlinue as a going con¢¢ni. Our opinion is not modified in respect of this matter. In auditing the fitwicial statements. we hav¢ concluded that the dire¢toJs' use of the going con¢¢rn basis of 41LCOLinting in the preparation of the financial ststements is appropriate. Our respotksibililies and the responsibilities of the directors with respect to going ¢onccrn ar¢ dcscribed in the relevanl sections of this report. Otber information The trustees are responsible for the oth¢r Information contained Ivithin the annual r¢port. The other infotThation coinprises the inforniation included in ihe annual report other than the financial siatemenls and our auditor's report thereon. Our opinion on the financial sialements does not cover the other information and, ex¢¢pt lo the extent otherwise ¢xplicitl>' stalcd in our report. lye do not express any forni of assurdnce conclusion tliereon. Our responsibility is to read ihe other inforn)alion and, in doing so, consider ivheil)er the oth¢r inforniatioil 15 materially inconsistent iyith the finan¢ial slalements or OLEr kno1￿ledge obiained in the audit or otherwise appears tu be materially misstated. If li'e identifj. such maierial inconsistencies or appar¢nl tnai¢rial misstalemenls, we are required lo d¢t¢nnin¢ iN.heiher this giN'es rise to a tnalerial misslatemenl in (he finaiicial statements themselves. If. 20 Tettenhall College (Incorporated) (A company limited by guarantee) Independent Auditor's Report to the Members of Tettenhall College (In¢orpor*ted) based on the work we have perlornied. we conclude that there is a material misstat¢ment of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 21X)6 lil our opinion based on the ￿Ork undertaken in the course of our audit the infomiaiion given in the trustees. reporL ivhich includes the directors. report and the strategic report prepared for the purwses of ¢offtpany law, for th¢ financial year for which ihc financial stateinents arc pr¢par¢d is consistent ivith the financial statements. and the strotegic report and the directors. report included iYithiT] the trustees. report have been prepa￿d in a¢cordance with applicable legal wuirements. M*tters on which we are required to report by exception Iii light of the knoivledg¢ and understanding of Ihe charitable compan}, and their environment obtained in the course of the audit. we have not identified material Tllisstatements in the strategic report or ihe directors, report included ivithin th¢ trustees, report. We have nothing to r¢w)rt in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. the parent company has not kept adequat¢ accounting records. or the parent Cotnpany financial statcments are not in agrccTncnl ivith the accounting records and returns. or certain disClosu￿S ofirustees. remiineration SP￿lfIed by law are not made. or ive have nol received all the inforniation and explanations ive requirt for our audit. Responsibilities of trustefs As explained more fiilly in the trustees, r¢sw>nsibilities statement set out on page 17. the trustees (Ivho are also the directors of the Lharitable company for the purwses of ¢ompany laiv) are responsible lor the prepardtion of the fin8n¢ial statcmenls and for being 5alisficd that the), give 8 truc and fair vieli, and for such iiiternal coiitrol as the trusl¢es dclcrniine is necessary lo enable the preparation of financial stateinenls that are free froin material misstatement, whether due lo fraud or error. In preparing the financial statements, Ihe Iruslees are reswnsible for assessing the Charitabl¢ company's ability to continue as a going ¢onccrn. disclosing, a5 applicable. malters relaied to ¥oing ¢oncem and using the going Loiicern basis of accounting unless the trustees either intend io liquidate the ¢haritabl¢ ¢ompany or lo cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the gudit of the financial statements Our obje¢lives are lo obiain reasonable assuTance alK>Ut ivhether the finan¢ial ststem¢nts as a whole are free frotn material misstat¢mcnl. 1s,hctlier due to frnud or eThor. and io issue an auditor s rew)rt Ihal includes our opiiiion. Reasonable assurance is a high level ofassuratELe. but is not a guarani¢c ihai an audil conductLd in accordance with ISAS (UK) Ivill alii.ays dete¢t a Fnaterial misstatemeni ivhcn it exists. 21 Tettenhall College (Incorporated) (A cownpany limited by guarnntee) Independent Auditor's Report to the Members of TetteDh*ll College (Incorporaied) Misstat¢menls can arise from fraud or error and ar¢ ¢onsidered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which th¢ audit was considered capable of detecting irregularities, including fraud and non- complian¢¢ with laws and regulations are set out below. A further description of our resp)nsibiliti¢s for the audit of th¢ [￿anCIal stat¢m¢nts is located on the Financial Reporting Council's wcbsite at.. wwiv.fK.org.uklaudttorsresponsibilities. This description forn15 part of our auditor's report. Extetil to which the audit w¥s considered capable of de¢eeting irregularitie5, including fraud Irregularities, including frnud. are inslances of non-compliance wlth laws and regulations. W¢ identified and asscssed the risks of material misstalement of the financial statements from irregularities, whe(hcr due to fraud or error, and disciiss¢d these betsveen our audit teom tncwnbers. We then designed and perfomi¢d audit procedures responsive to those risks, including obtaining audit cvidence su￿1Clent and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and r¢gulalory frameworks within which the ¢harithble company and group operates, focusingy on those laws and regulations that have a direct effect on the det¢miination of material amounts and disclosures in the financial statements. Thc laivs and regulalions ive consid¢r¢d in this context w¢r¢ thc Conipanies Act 2006, the Charities Act 2011 togeiher with tlie Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit proCedU￿S on the r¢lated flliancial statement items. In addition, we considered provisiotks of other laivs and regiilations that do noi have a dir¢¢t effcct on the finai)¢ial statements but compliance with ivhich might b¢ fundamental to the charitable compan} s and the group's ability to operate or to avoid a material penalty.. Audiling standards limit the required audit pro¢edure5 to identify non- complian¢e with these laivs and regul8tions to cnquiry of the Trnstees and oihcr managctnent and inspection of regulatory and Icgal correspondence, if any. We also considered the OPFOrtunities and incenlivcs that tnay exist within the charitabl¢ company and ihe group for fraud. W¢ identificd the greatesl risk of matcrial impact on the financial slalemenls from irreglilarities, incliiding fraud, to be the override of controls by management. Our audit procedures io rcspond io thesc risks included enquiries of management and th¢ Financc Committee a]xilli their own idclltificalion and assessmenl of the risks of irregularilics, sample testing on ihe posting of journals, reviewing ac¢ountiTkg estimates for biases, designing aiidit pro¢edures over income, revieiiing regulator), correspondence ivith th¢ Charity" Cotntnissioii ￿}d reading iiiiiiutes of meetings of those chargcd with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that ive ma). not haN'e dete¢ted some malcrial misstatements in Ihc financial statements, even though we have properly planned and perfortned our alidil in accordance witl) auditing standards. For example: the further reTnoved non-compliance with laivs and reglilations (irregularities) is from the evcnts and transactions reflect¢d in lh¢ financial statements, the less likely the inl)erently litnited procedur¢s reqLiired by auditing standards i¥ould identifj. it. In addition, as iN'iih any audit. there remained a higher risk of non-delection of irreg?ularities, as these may involve collusion, forbbery, intentional omissions. misrepTtsentations, or the override of iniernal controls. We are not responsible for preventing non-compliance and cannot be ex1￿cted to detect non Net movement in funds for the year 612.525 116.977 14.732 744.234 868.665 Fund balances brought foThvard ar I Sepiember 2023 3,488,357 I J7S,7(K) 149,998 5,014,055 4,145.390 Fiind balance5 carried forward at 3151 Allgust 2024 4,IIXIJ82 ,492.677 164.730 5,758,289 5,014,055 The consolidated ststement of finaFbcial activities incorporales thc lllcomc and Expcnditure account. The notes on pages 28 to 44 form part of these financial statements. 24 Tettenhall College {lllcorporated) (A eofflpaDy limited by guarantee) Ba12nee sheet as at 31 AuEU$t 2024 (Company number 141727) Note Group 2024 Group 2023 College 2024 College 2023 Fixed asse¢$ Tangible assets Investments 7,698.198 133,090 7031288 7,219.104 123,358 7.342,462 7,698,198 133.190 7,831J88 7.219,104 123,458 7,342,562 12 Current ￿ets Sto¢k Debtors Cash and deposits 116554 429229 2,654,176 3,199,959 127.079 498.700 2.453.243 3.079.022 1,870 655,885 2,494,877 3,152,632 1,870 729,339 2.276,114 3.007,323 13 Current liabilities Creditors payable within one year 14 (2,951￿75) (2.903,165) (2,904J48) (2,831,566) Nel current liabilities 248J84 175,857 248,284 175,757 Total assets le&8 curreni liabili¢ies 8.079.672 7,518,319 8,079,672 7,518,319 Long-term liabilities Creditors payable after one year 15 (2J21J83) (2,504264) (2 J21 J83) (2504264) Net assets 5,758289 5.014,055 5.758,289 5,014,055 Represented by: Endowed funds 21 164.730 149,998 164,730 149.998 Restricted fu￿d9 21 1,492,677 1.375,700 1,492,677 1,375,700 Unrestrieled funds 21 4,100882 3,488.357 4,100,882 3,488,357 5,7i8289 5,014,055 5,758289 5,014,055 T¢tt¢nhall College (Incorporated) has taken the exemption from presenting a parent Statement of Financial Activities incorporaiing Income and Expenditurc Accounts under section 408 of the Companies Act 2006. The surplu5 for Ihc year deali ii'ith in thc f￿anCIal statements of the cliaritabl¢ ¢ompany was £729,502 {2023.' £866.3431. 25 Tettenhall College (In¢oryorated) (A company limited by guarantee) Balance Sheet as at 31 Augus¢ 2024 (Company number 141727) These financial statem¢nts were approved by the Governing Body 0￿1 ￿(￿£2025 and were sign¢d onits fby- JFWOO ridge (Chairnian of the Govcrning Biydy) The notes on pages 28 10 44 forni pgrt of these financial statements 26 Tettenhall College (Ineorporated) (A company limiled by guarantee) Consolidated cash flow statement for the year ended 31 August 2024 2024 2023 Net cash outllow from operations Net cash provided by / (u￿d in) operaling activiti¢s 1208872 1.779,328 Cash flows from investing aclivities: Payments lor tangible fixed assets Proceeds frotn salc5 of tangible fixed assels ProLeeds on sal¢ of investments Investm¢nt income and bank interest received Net Cash used in investing Activities (773549) (431.290) 5,000 2U99 7.119 (739,650) (419.171) Cash flows from financing activities: Loan rcpaytnents Finance costs paid Net cash used in financing ac¢ivitie$ (176,865) (91,424) (169.987) (98.301) (268289) (268,288) Change in cash and ¢Ash ¢quival¢nt5 iTi the reporting period 200933 1.091,869 Cash and deposits at 31 August 2023 2,453343 1,361,374 Cash and deposits at 31 August 2024 2,654,176 2,453,243 Reconciliation of net income to net easb flow from operating aftivilies Net incoming resoiirces EIiET]ination of non-operdtin8 cash flows: Investment income and bank inlcr¢51 Finance costs Depreciation charge tkcreasel{increa5e) in st(Kk (Increasevdecrease in debtors Increasel(deLrease) in creditors 729,502 866,343 (28099) 91,424 294,455 10,524 69,471 (7.119) 98.301 277,283 (36,796} {96,5501 677,866 479J70 912,985 Net cash inflow from opern¢ions 1208872 1,779.328 The notes on pages 28 to 44 form part ofthese financial sthtements. 27 Tettenhall College {In¢orpora¢ed) (A company limited by guarantee) Notes forniing part of tbe fin2n¢ial Statements for the year eDded 31 August 2024 LEGAL STATUS OF CHARITY Th¢ Coll¢ge is a company limiied by guarantee (registered nutnber.. 141727) i¥hi¢h is registered in England and Wales. It registered a5 a charity on 6th S¢plcmber 1966 and its Charity regislration number is 528617. The registered oifice and principal place of business is W(XKI Road. Tettenhall, Wolv¢rhamplon, WV6 8QX. The prÈncipal activity of Tettenhall Colleg¢ is a successful co-ducaiio¥bal, independent day and boarding school for pupils aged 2 to 18. ACCOUNTING POLICIES The financial stat¢ment5 havc bccn prepared in ac¢ordan¢¢ ivith ALcounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in ac¢ordance with the Financial Reporting Standard applicable in the UK and R¢public of Ireland {FRS102) {effecliv¢ l January 2019 - (Charities SORP (FRS 102)), the Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The College meets the definÉtion of a public benefit entity under FRS 102. As5¢ts and liabilities are initially recognised at hi￿orical c05t or transaction value unless otherwise slated in the relevant accounting policy. 2.1 Going eoncern The Governors have undertaken an in-depth revieiv of the going concern assessment of the College in relation to the impa¢t of the recenl Gov¢rnment changes to VAT on Sch(K)l Fees, removal of business ratcs reliefand increases in National lllsurance contributions. The College ts ¢onfid¢ttl that the changcs they are putting in place to make fee5 morc affordable together with intensive markeiing ettorts and increased overseas tra￿e1 will provide certainty and ¢onfidei)ce concerning affordability for parents. The College will also seek to make efficiencies without detriment to the exc¢llenl Icvel of education currently provided. Additional capacity has been added in kcy areas to maximisc grO1￿h and improve the pupil pipeline ivhich will flow throligh over the nexi 5 years leading to increased nutnbers in the Prepardtory and Senior Schools. The College is ¢onfid¢nt the boarding market will improve and expand into developing areas. Additional investment in marketing videos and onlinc tours has enabled the College to display its provision to both loca] and int¢malional prospective parents and pupils. Notivithstsnding this confidcncc. Ihc budgets and cash flow forecasls are dependenl on th¢ contlllliing support by ihe bank, sale of surplus land and receipt of donations in line Thith the eipecled timeframe and th¢ maintcna¥Jce of pupil numbers. Whilst the Governors and managemenl are satisfied froin their revieiv of budgJets and forecasis that it remains appropriate to prepare Ihe finaiicial stalemenls on a goin&> ¢onLem they reco¥nise that the reliance on these factors is not ￿"hOlI)i il'ithin their control and therefore Ihere reniains a tnalerialit), uncet1ainty' that could impacl the financial viability of the College. 28 Tettenhall College On¢orpor*ttd) (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 August 2024 2. ACCOUNTING POLICIES (contlDued) 2.2 Basis ofeoLsolidation The consolidated financial statements include th¢ financial statements of the College and its subsidiary Lindertaking madc up lo 31 August 2024. The results of the subsidiaries, as shown in note 12 are consolidated on a line-by-ITne basis Within the consolidated Statement of Financial Activities {"SOFA"). In th¢ College's financial statements, investments in subsidiary undcrtakings are staled ￿ cost less provision for p¢rnianeni diminulion. 2.3 Critieal aceoullting judgements key sour¢es of e5timi¢ion uDeertsillty Preparatiott of the financial gtAt¢m¢nls requires Governors to mak¢ significant judgcincnts and ¢slimales. The items in the f￿anCIal statements M,here these judgcmcnls and estimates have b¢¢n n)ade included.. Doubtful debt provision.. Fees receivable are evalualed and a specific Provision is applied to each account based on management's judg¢m¢nt and cxperience. 2.4 Fees and 5imil&r earned income Fees re¢¢ivablc and charges for services and us¢ of the premises, less answ allowances, scholarsliips, bursaries granted by the College against those fees. but including contributions received from restricted funds, a￿ accounted for in the period in which the service is providcd. 2.5 Investment income Inveslm¢nl income from dividends, bank balances and fixed int¢r¢st s¢curities is a¢¢ount¢d for on an accrnals basis. Income from inve5ttnent prO￿rtIeS is accounted for in the period to which the rental incotne relates. Rental income (including incentives received or paid) for operatiiig leases on investmei)t property are recognised in profit or loss on a Siraight line basis over the lease terni. 2.6 Donations, legaeies grants a￿d other voluntary incoming resources Voluntary incoming resources are accounted fur as 2nd ii.hen entitlement arises, the amount ¢an be reliably quantified and the economic benefit lo the College is considered probable. Volunthry incotne for the College's general purw)ses is accounted for as unrestricted and is credited to the General ReserY¢. Wh¢r¢ thc donor or an appeal has iinposed trLlSt law. restrictions. voluntary iiicoine is credited to the relevant resiricied fund and incomitkg endoi*ments are accounted for as pernianent trust capital or expendable trLlSt capital, aLcording to ￿.hell)rr the donor intends r¢l¢nlioi) is to bc pemJ8neiil or not. Gifts in kind are vallied at estimated open market i'alue at the date of gift. iii th¢ ¢as¢ of assets for retention or ¢onsvmption. 29 Tettenhall College (Incorporated) (A Company limited by gu2ratt1ee) Notes forming part of the fJn8nci41 statements for the year ended 31 Augu$t 2024 ACCOUNTING POLICIES (continued) 2.7 Expenditure Expenditure 15 accrued as soon as a liability is Considered Probable, discounted to present value for longer- tcrm liabilities. Exp¢T]diture attributable to tnore than one cost ¢ategory in the SOFA is apportion¢d lo them on the basis of the estimated amount attributabl¢ to cach activity in the year. ¢ith¢r by reference to staff time or th¢ u5¢ Tnade of the underlying assets. as appropriate. Irrecoverdble VA T is included with the item of expeT]diture to which it relates. Governance Costs compTtse the costs of complying ivith constitutional and statutory requirements. 2.8 Tangible fExed assets Expenditurc on the acqiii5ition, Construction or enhancem¢nt of land and buildings ¢osting more than £ 1,000 together with vehi¢lcs. furniture, machinery, ICT infrastructure and other eqiiipment costing more Ihan £l.000 are capitalised and carried in the balance shect at historical cost. Other expenditure on equipment Tncurred in the nornial day-to-day running of the College is charged to the Stat¢m¢nt of Financial Activities as incurred. 2.9 Depreeiltion Depreciation is provided io ivrite off th¢ cost of all relevant tangible fixed assets less estimated residual value based on current market PTi¢CS, in equal annual instaEm¢nts over their expected useful economic lives as follows= Frcehold land and buildings Fixed A5scI itnprovements Furniture and fitlings V¢hicles and equipment 100 years straight line l O to 25 years straight line 10 years strdight line 5-8 years straight line 2.10 Investments Listed investments are valued ai market value as at the balance sheet date. Unrcalised gains and losses arising on the revaluatioii of investmcnls are credited or cliar¥ed io the Siatemenl of Financial Activitie5 and are allocated lo the appropriate Fiind according lo the "oii".nershtp" of the underlying ass¢ts. 2.1 I Sioek Stock repr¢s¢nts goods for resale and is valued at the lower of cost and net Ttali5able value. 30 Tettenhall College (Incorporated) (A company limited by guarantee) Notes forming part ofthe fina￿¢1￿1 statements for the year ended 31 August 2024 ACCOUNTING POLICIES (continued) 2.12 Fund accounting -rhe charitable funds of Ihe College are ac¢ounled for a5 unrestricted or restricted income, or as endowment capital, in accordance svith the tern15 of trust imEKTrsed by the donors or any appeal to iYhi¢h Ih¢y may have resEK)nded. Endowment funds are further sub-divided into permanent and expendable. Unrestricted income belongs to the College's corpordte reserves. spendable at the discretion of the Govcrnors cither to further the College's Objects or to benefit the College itself. Where the Governors decide lo sel aside an). part of thes¢ funds lo be used in for some specific purpose, this is accounted for by transfer to the appropriatc designated fund. Restricted income cornprises gifis, legacies and grants ivhere there is no capital r¢tention obligation or power bui only a trust laiv restriction to some Specific purpos¢ intended b). Ihe donor. Permanent endowment arises ivhere a donor intends the gift to be retained pernianently for use by the Coll¢￿¢ or for its financial benefil (i.¢. by investment). 2.13 Pension Costs Retirement benefi15 to employees of the College are provided through tsvo ￿nsiOn s¢h¢ines, one defined benefit and one delin¢d ¢ontribution. The pension costs charged in the Statement of Financial Activities are determined as folloivs= (a) The Teachers, Pension Scheme - Thi5 scheme is a rnulti-employer pension scheme. It is not possible io identify the College's share of the iinderlying assets and liabilities of the Teachers, Pension Scheme on a consistent and reasonable basis and therefore, as reqiiired by FRS102. il accoiints for the s¢h¢me as if it ivere a defined contribution schetne. The College's conlribulions, which are in accordance with the recommendations of the Government Aeluary. are ¢harged in the period in which the 5alarie5 to which they fflatc are payable. (b) The Tettenhall College Group Persotial Pension Plan This is a defined contribution group personal pension plan i%"ith Acgon. Eniplo)'er's p¢nsions costs are charged in tjie period in whi¢h the salaries to ivhich they relate are payable. 2.14 OperatlDg leases Rentals under operating leases are charged on a stsaight-line basis over the lease lemi, even if the payments are not tnade on such a basis. Benefiis receivcd and receivable a5 an incentive to sign an operating leas¢ are Sitnilarly spread on a straight-line basis over the lease terni. 2.15 Financial instrnments Basi¢ finan¢ial inslrutnents are initially recognised ai transaction value and subsequentl), measured at amortised cost iyith the exception of tnvesimenls and cash at bank in hand ii,hicli arr hcld at fair value. Cash at bank and in hand is defined as all cash hcld in instanl a¢Less bank aLcouiits and used as iN'orking capital. Financial assets held at amortised Lost Lomprise trdde and other debtors. A specific provision is made for debts for which recoverability. is in doubt. Financial liabilities held at amortised cost coinprisc all creditors except so¢ial securit), and other t&xes and provisions. 31 Tettenball Couege (Illcorpornted) (A company limited by guarantee) Notes forming part of tbe financial Statements for the year ended 31 August 2024 CHAIUTABLE AcfiviTIES- FEES RECEtVABLE 2024 2023 Fees receivable eonsist of.. School fees Less.. total scholarships and bursaries 9,465254 1572 640 8,326,383 1644 135 CHARITABLE ACTIVITIES- OTHER INCOME 2024 2023 Transport Surplus on pupils. recharg￿bI School trips Squash Academy Other Summer Catnp Uniforni shop 41,458 137 109,094 8,730 32,819 726 57,783 8,350 8,705 21,900 103 714 23 17,432 OTHER TRADING ACTIVITIES 2024 2023 Trading income Hire of facilities- School Hire of facilities- Tettenhall College Enterprises Limiled 848 293 314 241587 GRANTS AND DONATIONS RF.CEIVABLE Unrestricted Restricted Endowment Total 2024 Total 2023 D¢vcloptncnt donations PTA Otlier Legacy Day of Giving 901W4 901,834 1.350,000 10,089 50 383 25 8.138 1,754 25 13,138 11.754 10.000 9,917 916034 926,751 1,360,522 32 Te¢tenhall College (Incorporn¢ed} (A company limited by guarantee) Notes forming part of the financial stAtemeDts for the year ended 31 August 2024 Included in donations above are donaiions from trustees lotalling £61KI.000 (2023 £1.200.000). ANALYSIS OF EXPENDITURE Staff costs (Dote 9) Depreciation (Dote I l) Other Total Total 2024 2023 Charitable expenditure Educulion Teaching Welfare Premises repair and maintenance Support ¢osts and goveman¢e Interest payable 3.925.721 398.561 236,711 434,835 16.821 760,237 772,106 812,632 607.425 91.424 4,702,779 1,170,667 lJ26,977 1,042,260 91,424 3.842,383 1,056,320 1.251,695 1,128,141 98.301 277.634 Tot*1 charitable expenditure 4,995,828 294.455 3,043024 8J34,107 7.376,840 GOVERNANCE COSTS Governanee included ID supporl costs: 2024 2023 Remuneration paid to auditor for audit services Other governance costs 24,855 2,255 18,970 1,320 27,110 20,290 Trdvel expenses ivere reclaimed by no members (2023: 0) of the GoverniTEg Bixly. During the year, indeTnnity insurance il'as in place to cover the liability of the Governors and other offi¢ers in respect of negligent default, breach of trust or breach of duty. STAFF COSTS 2024 2023 The aggr¢gate payroll costs for the year ivere as folloivs: Wages and salaries SoL'ial security costs Other pension ¢osls 4,016,892 376,789 602,147 3,529.519 324,793 473,771 4,995,828 4,328.083 33 Tettellhall College (Incorporated) (A company limited by guarantee) Notes forming part of the fillancial statements for the year ended 31 August 2024 Non¢ of thc Governors recetved aDy remvnerntion or other benefits from Tettenhall College or from aiiy connected body. Aggregate employee benefits of key management personnel 598,975 503,047 2024 2023 Number of paid employees in bands of". £50,00 I to £60,000 £60.001 to £70,000 £70,001 to £80,000 £80,001 to £90,000 £90,001 to £ l(M),000 £140,001 to £150,000 The number with retiremenl benefits accwing in Defined Benefit sch¢wne5 vas College pension contribution5 for thes¢ ¢mployees amounted to £81,037 (2023.. £56,861) The averdge number of the College's employees during the year was: 2024 2023 Teachii)g Welfare Premises Support 80 17 17 12 14 132 16 124 10. NET INCOMING RESOURCES 2024 2023 This is stated aft¢r charging Depreciation Operating) lease rentals ALiditors' remuneration= audit services (exclusivc of VAD Auditors, r¢mLineration.' non-audit s¢n'iies (exclusil'e of VAT) 294,455 43,421 20,712 1,879 277,283 38,744 16.308 1,100 34 Tetlenhall College (Ineorpor4ted) (A company limited by guaratttee) Notes formin% parl of the financial statemeots for the year ended 31 Augusi 2024 11. TANGIBLE FIXED ASSETS Group 2nd College Freehold Ixnd and buildiugs Vehicles and equipment Assets under tbe course or eonstruc(ion Furniture and fittings Total Cost At I September 2023 Transfer Additions Disposals 617.152 115297 758J59 851,521 345,177 115,297 (115297) 9,929,147 15,190 773.$49 At 31 Augus¢ 2024 9,490,808 851521 360J67 10,702,696 DepreciatlOD At I September 2023 Charg¢ for th¢ y¢ar Disposals 1,764,084 225207 630,852 52,427 315,107 16,821 2,710,043 294,455 At 31 August 2024 ,989291 683279 331,928 3,004,498 Net book value At 31 Augusi 2024 7,501￿17 168242 28,439 7,698,198 Al 31 August 2023 6053,068 220,669 30.070 115,297 7,219,104 All tangible fix¢d y55¢ts are held for use on charitsble activities. 35 Tettenhall College (Incorporated) (A company limited by guarantee) Notes forming pxrt of the finaDei21 slatements for the year ended 31 Allgust 2024 12. INVESTMEiYrs Group 2024 College 2024 Group 2023 College 2023 At I September 2023 (Decreaseyincreas¢ in value of investments Additions Disposal Investments at 31 August 2024 Investments comprise: 123J58 14,732 123,458 14.732 126,036 2.322 126,136 2,322 (5,000) 133,090 (5,000) 133,190 (5,000) 123,358 (5,000} 123,458 Listed investments Equities TransaLI Portfolio Subsidiary Teltenhall College Enterprises Ltd 133,1190 133,090 123.358 123,358 loo 100 133,090 133,190 123,358 123,458 Tettenhall College Enterprises Ltd is l 0￿/Tr oivned by the College. The registered oifice is Wood Road, Tettenhall, Wolverhampton. WV6 8QX and its regisl¢r¢d numkr 11293295. The profit for t]ie period ended 31 ALigiist 2024 ivas £37.645 {2023= £62.163), all of 1s".hich was donated to the College. Net a55cls at 31 August 2024 ivere £100 (2023.. £100)- 13. DEBTORS Group 2024 College 2024 Group 2023 College 2023 Fees and exlras Oiher debtors Amounts owed from subsidiary undertaking Loan to siibsidiary. undertakin¥ Oiher prepaj'ments and ac¢nicd incomc 340,610 5,550 340,610 3,988 158218 70,000 83.069 655,885 321.070 7,797 321,070 1,172 167,264 70.000 169,833 729,339 83,069 429,229 169,833 498.700 36 Tettenhall College (Incorporated) (A company limited by guarantee) Noles forming part of the financial ststements for the year ended 31 Allgllst 2024 14. CREDITORS: amounts falling dlle within ODe year Group 2024 College 2024 Group 2023 College 2023 Deposits froTll parents Mortgage loans (see not¢ 16) Fcc5 rcccivcd frotn parents in advance of iern) Trad¢ ¢r¢ditors Taxation and 5(Kial security Other creditors 291.403 182,881 ,841,076 154,768 102,084 80.008 299J55 2,951575 291,403 182,881 1041,076 122J82 95,793 76,962 293051 2.904J48 401,140 176,865 1,612,166 283.000 92,973 66,774 270,247 2,903.165 401,140 176,865 1,612,166 228.881 93,327 63,505 255,682 2.831,566 A¢¢ruals and d¢ferred income Fees in advance represent payment for fees relating to terms within the 202312024 financial year. Lwovements during the year were.. Group 2024 College 2024 Group College 2023 2023 Balance at I September R¢sourc¢s d¢f¢￿ed during the year Amoiints released from previoiis years Balance at 31 August ,612,166 1,612,166 1,194,664 1,194,664 1.841,076 1,&11,076 1,612,166 1,612.166 (1,612,166) (1.612,166) (1,194,664) {1,194,664) ,841,076 1,841,076 1,612,166 1,612,166 15. CREDITORS: amounts Calling due after more tban one Jear Group 2024 College 2024 Group 2023 College 2023 Mortgag¢ loans (see note 16) 2J21J83 2J21 J83 2,504,264 2,51M,264 37 Tettenhall College (Incorpornted) (A company limited by guaranlee) Notes forming part of the finaneial sta¢ements for the year ended 31 AugMs¢ 2024 16. MORTGAGE LOANS Group and College At the balance sheet date. the mortgage loans were ￿Payabl¢ as follows.. 2024 2023 Within l year In 1-2y¢ar5 In2-5years In more than 5 years 182,881 189.208 608,274 I￿23,901 176,865 182,881 587,289 1.734,094 2504,264 2.681,129 The loans are Secured by first legal charges over the Collcgc's freehold property. Therc are two loans vhich b¢ar fix¢d intcrcst rates of 2.84 % and 4.9W/o and are being repaid by monthly instalments. These loans will repaid by November 2035 and March 2036 respectively. Loan interest chargcd to the Statement of Financial Activities amounted 10 £91,424 (2023= £98,301)- 17. FINANCIAL tNSTRUMENTS Group 2024 Group 2023 Financial assets measured at fair value (b) 2,111,603 322,240 (a) Financial assets include fee debiors staff loans and other debtors (b) Financial assets held at fair value in¢lud¢ ass¢ts held as inveslmenls and cash (c) Financial liabilities include deposit4 fees in advance. trdde ¢reditors. and other Creditors 18. LEASES Group XDd College Al 31 August 2024, the College had the folloiving comTnitments under non-cancellable operating leases.. 2024 2023 Operating leases which ¢xpir¢: Within one )'ear Within two to five years 23,51 13,756 38,656 38 Tettenhall College (Incorporated) (A company limited by guarnntee) Notes forming part of the fin¥ncial statements for the year ended 31 August 2024 19. FUNDS OF THE COLLEGE Thc College's funds a￿ analysed und¢r the following headings.. ENDOWED FUNDS The Clay endowment fund represents investtnents gifted to the College to be held as capitsl. b) RESTIUCTED FUNDS Development Fund This represents donations received for a S￿c1fiC purtK>se, namely the continualion of the Tettenhall College Capital Development Plan. These funds have ken used for their intended purpose and th¢ costs were capitalised as unr¢5tricted funds. Accordingly. the balance on this fund has now been transferred to unrestricted funds. Towers RoofFund This represents donations Trceived for a specific pur￿$¢. namcly thc replacement and repairs of the Toivers roof. Aston legacy A number of paintings and books ivere left to the College in November 2017 by fornier pupil, Mr Aston. Th¢ estimated value of these 15 £20,000 and they are held as fixed a5scIS. Other restricted funds The other fiinds represent donations received for specific pur￿$¢$ ivhich have been used as intended. UNRESTRicfED FUNDS Unrcstrictcd funds represent accumulated income from the College s aciivilies and other resources that are available for the genernl PLirpos¢s of the College. 39 Tettenh811 College {Incorporated) (A company limited by guarantee) Notes forming part of tbe financial statements for the year ended 31 August 2024 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS At 31 August 2024 Endowed Restrieled Unrestricted Total Tangible fixed assets tnvestments Net C￿￿ent liabilities Long terni liabiliti¢s 799,157 6099,041 (15,0(M)) (461,776) {2J21J83) 4,100082 7,698,198 133,090 248J84 (2 J21?83) 5,758289 148,090 16,640 693,520 164,730 1,492,677 Ai 31 Aug￿￿1 2023 Endowed Reslricted Unre5tricled Tolal Tnngiblefuedof5ets Se6urili¥5 inveslmenls Ne¢ current liabililies Long term liabilities 20.000 7,199,104 (10.000) (1. 190.483) (2,504.264) 3,488.357 7.219, 104 J23,358 175,857 (2,504,264) 5.014.055 133,358 16,040 1.355. 700 149.998 1.375, 700 40 Tettenhall College (Incorporated) (A company limited by guarantee) Notes fonning part of the financial statements for the year ended 31 All2liSt 2024 21. SUMMARY OF MOVEMENTS ON MAJOR FUNDS At 31 August 2024 At I In¢ominE Resources Gainsl Sept resources expended (Losses) 2023 Funds transfer At31 Allgust 2024 Unrestricted funds General reserve 3,488J57 8,436,404 8,603,036 3,488J57 8,436,404 {8￿03,036) 779,157 4,IOOJ182 779,157 4,100,882 Re8trieted funds Aston paintings OT Bursarial Fund OT Towers Restoration Project OT Board¢rs Fund OT Scholars Programme Toivers Roof Sivitnming? Pool Towers 20,01 20,000 (50) {2,650) (131￿> (1500) 2,650 l J50,(M)O 901W4 12JOO 2,-500 916,834 (779,157) 1,472,677 (12JIMb) 2Jl)O (20,71KI} l J75,71)0 (779,157) 1,492,677 Endowed - Pem*nent Clay ¢ndoivm¢nt 149,998 149,998 14,732 14,732 164,730 164,730 Total Fullds 5,014,055 9J53,238 (8,623,736) 14,732 5,758,289 Ai 31 Augusi 2023 Ai I Incoming Resources Gains/ Sepl resources e-¥pended (Losses.) Funds Iran3fer Ai31 Aiigusl 2023 2022 UnreslriLleilfunds GL'iiL'rul reserve 3,972.014 7,217,959 7,701,616 3, 972.014 7,217.9i9 (7, 701,016) 3 488.357 3,488, 357 RÉ.slrie¢edfMnd5 Asion piiinliiig OT Biir.¥cirial Fiind OT To%ver5 Resluralion Projecl OT Bi)ard¥r5 Fiffld C)TSchol￿S Programme PTA clonalion Toiver.s kilchen ToTrL'ers Roo 20.000 50 2.650 l.iOO l.ioo 20,000 50 2,650 1,500 J.500 10.089 1.350.000 25. 700 1,360.089 (10,089) J.350,OUO 1,375, 700 (10.089) Endowed- Permanenl C'lay endnJi'iiiep71 147.070 147,076 Tolal Fuiids 4,J4i,390 8.578,048 17. 711, 705) 2,322 2,322 2,322 J49. 998 J49, Y98 5,014, U55 41 Tettenhall College (Intorporated) (A ¢ompaBy limited by guarantee) Notes forming p2rt of tbe fin2n¢ial Statements for the year ended 31 August 2024 22. PENSION SCHEMES Retirement benefits to employees of thc College are provided through one defined benefit scheme and one der￿ed contribution scheme, Ivhich are funded by the College's and employees contributions. Defined benefit schemes The College parti¢ipates in thc Tcachers. Pension Scheme ("the TPS,"") for its leaching staff. The pension charge for the year includes contributions payable to the TPS of £508.416 {2023.. £387,972) and at the year-end £62,328 (2023 - £47,211) Ivas accrued in respect of contributions to this scheme. The TPS is an unfunded mulii-¢mplo)'er defined benefits pension s¢heme goiierned by The Teachers, P¢nsions R¢gulalions 2010 (as amcndcd) and The Teacher5, Pension Scheine Regulations 2014 {as amendcd). Members contribute on a "pay a5 you go- basis Wlth contributions from members and the employer ¢￿d]led lo the Ex¢hequ¢r. Retirement and othcr P￿s1On benefits are paid by public funds provided by Parliatnent. The ¢mploy¢r contribution rat¢ 15 5¢1 by Ihc Secretary of State following scheme valuations undertaken by the GovernTnent Actuary's Departtnenl. The most recenl actuarial valuation of the TPS was prepared as at 31 March 2020 and th¢ Valuation R¢port ivas published in October 2023. Folloiying the Mccloud jtEdgement, the Temedy proposed thai when benefits become payable, eligible Incmbcrs can select to rcccivc thctn frotn either die refornied or legacy schetnes for the period l April 2015 to 31 March 2023. The actuaries have assumed that members are likely to choose the option that provides them ivith the greater benefils. and in preparing the 2020 valuation have valu¢d th¢ 'greater value, benefits for groups of relevant meinbers. The valuation confmed that the employer contribution rdte for tlie TPS would increas¢ from 23.60/0 to 28.60/0 from l April 2024. Employers are also requTred to pay a scheme adminislralion levy of 0.08% giving a total employer contribution rdte of28.680/o. Defined contribution scheme The Tetlenhall College Group Personal Pension Plan sthrted in August 2008. This is a money purchasc groiip personal pension scheme managed by Aegon. Basic conlributions are 30/0 for the emplo}'ee and 3 % for the etllployer. The etnployer'5 contribulions are charged in the s￿Lement of Financial Activiti¢s in the period in whiLh the salaries to which ihey rclalc arc due. Th¢ employer's contribiitions in the )'ear amounted to £88,409 (20?3.. £85.799)- At 31 Augusi 2024 there ¥iere £14,635 unpaid pension coiitributions for this scheme (2023.. £16.294). 42 Teltenhall College (Incorporated) (A company limited by guarantee) Notes forming part of ihe financial statements for the yegr ended 31 August 2024 23. MEMBERS, WUNDS The College is a cotnpany limited by guarantee and do¢s not have a share capital. The liability of each member is limited to an undertaking io contribute to the assets of the College such amount as may be required not exceeding £10 in the evenl of the College being wound up. Thc Memorandum provides that no amount may be distributed to members and that. on a winding up, any surplus assets shall be given to an institution ivith Similar objects. Accordingly, there are no equity int¢rc5ts in Ihc fiinds of the Collcgc. 24. RELATED PARTY TRANSACTIONS Th¢ Headtnasler's wife is an employee of the School. Her appoinlmcnl ivas made independeiitly and her remuneration is in line with the School's pay policy. Tlie Headmaster was nol involved in the ¢mploymeTrt dccision-tnakin8 process. The Headmaster's wife is a member of the Key Managetnent team. 43 Tettenhall College (Ineorpora¢ed) (A company limited by gu2rAn¢ee) Notes fortning part of the financial statements for the year ended 31 Augusi 2024 25. STATEMENT OF FINANCIAL ACTIVITIES- COMPARATIVE FIGURES BY FUND TYPE Year elided 31 Auxust 2023 Unrestricled Reslricéed Endowed Fullds lolal Income and endowmeAÉsfrvm.' Charitable aclivilies .gcknolfees receivable AnLillnry Irading inL'nme Otlier trddiA% aclivities NapE-ancillary Irading income Volunlury sottrees Granl.f cinddona¢ions Other Income Baiik and oiher inleresl 6.682.248 233.997 0.682,248 233.991 294,J62 294,102 433 1,360.089 1,360,522 7.119 7,119 7.217,959 1.300.089 8.578,048 Erpendilure on.. Chariruble aclivilies Education Oiher trading aclivilies Trciding uLti¥'iii 7.366. 751 10.089 7.376,840 334,865 334,865 Tfpldl expendiliire 7.701,610 10.089 7. 711, 705 (483,657) 1.3iO.000 866,343 Tettenhall College (Incorporgted) (A company limited by guarantee) Detailed income and expenditure aceount for the year ended 31 August 2024 The pages that folloiv do not form part ofthe stalutory rillatteial $tatements olthe College 45 Tettenhall College (Incorporated) (A comp3iDy limited by guarantee) Detailed incoTne and expenditure account for the Scbool for the year ended 31 August 2024 2024 2023 Page School fees (gross) 9,465254 ,326,383 Scholarships* grants and allow#n¢es {1,572,640) (1,644,135) School fees {net) 7092.614 6,682,248 Other operating income 48 1.142,096 1,553,816 9,034,710 8.236,064 Direct costs Teaching W¢lfarc Premises Siipwrt costs 47 47 47 48 4,702,779 1,170.667 lJ26,977 1,042260 3,842,383 1.056,320 1.251,695 ,128,141 (8,242,683) (7,278,539) Operating {deficit)Isllrplus for the year 792,027 957.525 Interest receivable and similar income Interest payable 48 48 28,899 (91,424) 7,119 (98,301) Deficit ON ordinary aetivities for the year 729502 866,343 46 Teltenhall College (Incorpornted) (A company limited by guarantee) Detailed income and expenditu￿ account for the School for the ye*r ended 31 August 2024 2024 2023 Teaching Teachin&> salaries and pension contribution5 Educational materials Commission Squash Academy School trips School stationery Library Speech day expenses Prizes School run Depreciation & loss on disposal-. Educatiollal equipm¢nl 3,925,721 133,637 391,784 7,110 109,094 13,495 3,890 9,408 985 90,834 3.320.524 103,460 223,183 6,894 57,783 12,394 3,470 10,342 120 86.084 16021 18,129 4,702,779 3,842.383 Welfare Salaries and wag¢s Sodexo Provisions Surgery Cleaning materials Laundry Bedding and linen Cat¢ring costs 398,561 682,053 23.757 8,471 36,558 9,878 703 10,686 366,667 601,226 18,272 6,622 35,669 7,294 4,408 16,162 I,170￿67 1,056,320 Premises Rates and ivater Healing and lighting Insiirancc S81aries and ivages Propcrty repairs and maintenance Furniture and fittings Mechanical and outdoor equipment Depreciaiioii & loss on di5rK)sal- Biiildings Fumitiire and tittings 99,01)3 334J49 59559 236,711 231,674 14322 73,825 82,409 297,854 51,204 223,624 267,323 7,226 62,901 225207 52,427 194,873 64,281 lJ26,977 1.251,695 47 Tettenhall College (Incorporated) (A company limited by guarantee) Detailed income and expenditure account for the School for tbe year ended 31 August 2024 2024 2023 Support Costs Clerical salaries Telephonc and postage Office and stationery 434,835 30.760 38266 11)0236 3818 231J191 2,650 51,053 19J93 94586 22J60 12.412 417,268 30,146 52,042 76,892 8,719 185,689 2,284 201,114 16,265 11,534 17.290 8.898 IT Retention events Publi¢ity Incid¢nlals Bad and doubtful debi provision Bank charges Professional charges Auditors, remunerdtio Financing charges 1,042260 1,128,141 Other operating income Schi)ol run Surpliis on pupils, insurancc and r¢¢harge2bles School trips L¢ttings and rent reccivcd Squash Academy Summer CaTnp Other income Donations 41,458 137 109,094 32,819 726 57,783 8,730 17,432 849 964J96 8,350 21,900 9.553 1,422,685 .142,096 1,553,816 Interest receivable and similar income Bank deposit and fixed terni interest 28,889 7,119 Inl¢rest payable Mortgage loans 91,424 98,301 48