ashornehill Creating growth through people Ashorne Hill Management College (A company Ilmited by guarantee) Report and Financial Statements For the year ended 31 March 2021 Company number 00889791 Charlty number 528784
ashornehill creating9w[h through p)ple Ashorne Hlll Management College (A company Ilmlted by guarant•o) Roport and Flnanclal Statements For the year onded 31 March 2021 Contents Pa Trustees, Annual Report Con801idated St8tement of Financkql Actlvllies 12 Consolidated & Chadty Balance Sheets 13 Consolldated Stat8m8nt of Cashflows 14 Not88 foming part of the financial stslements 15
ashornehill Trustees, Annual Report for the Year Ended 31 March 2021 The Trustees present their rekKVt and audti8d financial statements for the year ended 31 March 2021. R•foronce and Admlnl•tratlv• Inforniatlon Charity Name: Ashome Hill Management College ('AHMC', llhe College.) Charity reglstration number.. 528784 Company regIStratn number. 00889791 Registered Office and Operational address Ashome Hlll Leamington Spa Warwlckshirn CV33 9QW Structur• and Gov•mance The College Is registered as a company limited by guarantee and is governed by lis memor8ndum and articlés of a88ocialion. 11 is registered as a charity with the Charity Commisslon. As defined ty the College's memorandum & articles of assocl8tion, 1he members of the College are the Truslees of AHMC and such other p8rsons or organis8tions as appointed by the Trustees. In the event of being wound up, every member of the Colbge undertakes to contribute £1,000 for the payment of the debts arKJ liabilities of the College. The following persons acted as Trustees and Mémbers durlng the financial year: Mr l Hamett (Chalr) Mr D Williams (Chair) MrJ Hall Mr C Elliot Mr R Seacomb8 Ms A Chick Mrs C Bart)er Mr AS IsherwocMI Mrs M Jennings Mr J Carson Mr EJ West Jaguar Land Rover {resKJn8d 6 October 2020) Jaguar Land Rover {apFointed 6th Odober 2020) Jaguar Land Rover Jaguar Land Rover (resigned 17th May 2021) Jaguar Land Rover (resigned 31S1 Oecember 20201 Jaguar Land Rover Jaguar Land Rover Institute of Student Employers Venues of EXllenCe (appointed 9th March 2021) AHMC (signed 9° Juty 2021) AHMC (appointed 2V June 2021) The following person acted as Company Secretary during the financial year: Mrc Hodgson AHMC Relevant Organlsatlons Audltors- RSM UK A111 LLP, St Phillips Point. Temple Row. Bimingham. B2 SAF Bankers - Natwest Bank Plc. 59 The Parade. Leamington Spa. Warwickshire. CV32 4BA Solicitors - Wright Hassall, 0mpUS Avenue. Leamington Spa. WalICkSh1, CV34 6BF
ashornehill Alm and Objoctlves Purpose of the Charlty The purpose of the College is set out in the objects contained in the charitable company's memorandum of association. In brief this is the ajvancement of educatk)n and leaming and in partlcular the raislng of the staThJards of management and leadership skills across all 8ectors. Alm The aim of the College Is to be a management leadership tralning provider of excellence by developing solutions to fuffil customeTS' trainirtrJ requirements. Expertise is offered in the flelds of leadership. graduate development and rnanagem8nt development through complement of trainers and associates. Charftablo Actlvltles and Publ1¢ Benefft The Trustees have consldered thls matter. in conjunction vith the guldanc8 contained in the Charity Commission's general guidance on puLqic benefit, and have concluded thal.. 1. The aims of the organl8atlon continue to be chariiabl8', 2. The benefits a for the putlc, and are not unreasonabty restricted In any way and certainly not by abilty to pay: and 3. The is no detriment or harm arising from the aims or actlvitles. In accordance with aim, the College provkles management tralnlng 8cr088 all business sectots. The training, vthilst focussed at management 18vel, Is availabl8 through dedicated company programmes. Enhancing management skills clearty benefits both the individual an¢J company with an added p)sllive impact on the Btrtish econorny. This provides p8rsonal development and. through yrk related assignments arKJ feedback to line managers and HR Directors, organisalional development is embedded post delNery. Delegates benefrt from le8ming within a dlverse communty and AHMC promotes diversty on Irainlng courses to share and learn from a wide range of experiences. The College has developed the Leaming a Development Managers N&trTk which invofves keynote speakers and covers topical issues across a wide range of the private sector. The benefrts are free availatAe to the memtsrs of these forums. Training is also provided through the Conference Centre facilities: arKI Ihis is a vlab16 58Tvice provision in rts own right. The facilities are booked at prices whh are mPadble wlth other slmilar centres and are available for public and charitsble use. The reserves of the charity are invested in improving the Grade 2. listed premises and Ihe facilities available with the obiedNe of delivering an enhanced training environment to generate future training revenues. The publlc, in the guise of trainirvJ and conference partF¢ipants as well as visttors, continues to enjoy the facilities on offer. As a charity the general publ have the assurance Ihat all the inwme of thè College must be applied for educational purposes. As an eduCatnal charity AHMC enjoys tax exemption on educational activities and investment income and gains as these are applied lo the charitable aims. As a tharity the College is also entiued to an 80% reduction on business
ashornehill Creating growththroughpeople rates. The financial beneffts rer£lved from these tsx exemptions are all applied for educational purpw)ses. Envlronmental and Safety Responslbllllles In addition to the Charitsble ActNrties. th6 College rnaintains health and safety as a top priority by investing signthcantly in both a safety management system arKI the training and development of staff. A Health & Safety offer is in place to ensure a year on year Improvement in ¢ultural behaviour and atkntude to working safely. A commlttee of employees hold regular meetings to discuss H&S issues. Planned audlls of the site. its faciltties 8nd activitles, a undertaken with a report to the Busin885 Management Team, to ensure any necessary action is taken. The College continues to develop its onvironmental policy with money saved through recycling initiatives being reinvested in sustainable energy. Waste management has been improved dr8m8ticalty with much of the waste being recycled; th8 objective being to reduce the carbon footprlnt. Agreements currentfy in place cover the recycling of paper. cardboard. printer cartridges. 918ss, èlectric light bulbs and elethcal harthvare. Old fumiture and educatlonal materials are rewled through the second hand market or donated to other charlties. Managom•nt Th• Board of Trust••* In order to match best practlce guldance on good govemance and lo ensure all Trustees arg actlve and fully involved in the running of the College. the number of Trustees is Ilmited to 12. Thè compositlon of the Board of Trustees is designed to provide a mix of commgrclal and eduCatnal expertise to ensure that the charitable objocts of the organisatlon aro aChved. All Trustees give of their time freely and no remuneration is paid for thelr seNices as a Trustee. The Trustees meet at leasl tw8 a year, receiving portS from a Commercial and Strategy Committee and a Flnance and Audit Committee. As the Trustees of the College. the Board is composed of not more than six Trustees nominated and appointed by the Executive Committee of Jaguar Land Rover Llmited. Six additional Trustees are appoint•d by reason of their academic standing or commercial experience. Tru•tee Inductlon and Tralnlng Current Trustees identfy suitable candidales who are invited to serve as Trustees. Potential candidates are apwinted with a vw to their professional competence and experience across a variety of sectors and across the training and conference industries. New Trustees are offered a presentation aboul the hlslory of the College. its aims 8nd objectives. They are also provided with copies of the mernorandum and artlcles of association, latest accounts. recent minules and suttable Charity Commission guidance. On going training is also provided to ensure trustees are Uptdate th regard to their duties as trustees. This annual training includes. but is not limited to, updates with regard: the College's purpose and benefit to the public.. the COlge'S rules.. whafs best for the College and who it helps, and,. the strategic. financial and operational risks to the College.
ashornehill cL*at1ti80wth tlllDu8hF Sub Commlttees The Flnanco and Audit Commlttee meets t¥yice a year. the main dut5 of which are.. To approve Ihe annual accounts arKJ trustees report for submission to the Trustees and members. To consider issues raised by the audrtor. To monitor progress against ffinancial targets in the annual plan. Ensure the integrity of financial systoms. The composition of the Flnan&8 and Audlt Committe8 is J Hall. C Barber and J West with C Hodgson in attendance. The Commerclal and Strat•gy Commltt•o also rneels Iwice a year. The maln dutles of the Committee are" To review the progress made in achieving the Tnthes, stratsgy. To consider business development activity. the Colw's operating envlronment and trends in the customer base. Conslder how the obJectNe8 may b8 aChld In future years. The compoS10n of the Commérclal and Strategy Cornmitteè is J West. A Chick, C Barber. M Jennlngs and S IsheTh•K>d. Key Management Personnel and Bu8ln•s8 IAanag•m•nl T•am The Trustees deleg8te daY-tdaY control of the College to the Managlng Dlr8Ctor, J W8St, who is noled, alongside the Trustees. as the Key Management Personnel. Trustees rerRive no remuneratlon in respect of their duties as Trustees. The Managing Director is 8 seconded ernploy68 of Jaguar Land Rover. Salary. pension and nats'onal insurance wntrfbutions for the Managing Director are govemed a1 settled by Jaguar Land Rover. The Managing Dlrector is fonnally athiged by the Business Man8gement Team {BMT}. Th8 team consists of professional managers of the trdlning. conference, support and finance fvnclions and meels fomially each month to review perfonnancé, future plans, prospects and re80urce8. Multi-disciplinary teams, usually led by BMT members, are appointed to progress speclflc objectivés approved by the Trustees. Related Partles and Dependency The College is govemed by Trustees (vtho 8180 act as MembeTS of the College) appointed by Jaguar Land Rover Llmited vthich Is part of the Tata Group of companies. The College has no material dependency upon free services or other intangible inrne. A trading subsidiary. Ashorne Hill (Trading) Limiied. has been establlshed to transact non- charitable business and gift proffts b&k to the College.
ashornehill Stratoglc Roport Rlsk Management A Risk Register of the major risks to whth the College is exposed ts in pface and is fomally reviewed and amended annually. Systems and procedures are in place to mitigate risks and the progress against actlons revwed quartety. The principal risks to the Colle98 have been Klentffied as.. Governan. with respect to trustee conflicts of interest,. Operdtlonal, in tems of coMpetitn and fire, and.. Financial, being the risk of over-dependence on single income sources. These risks are managed through Trustees fvlly declaring wnflids of interest on an annual basis, management analysis and benchmathng of competttors, annual reviews of fire protection sy8tem8, controls and processes, and a strategic plan to dlversrfy the College customer base. In addition, the impact on the College due to regulatory changes is constantly reviewed Ix)th internally and by extemal specialists. Intemal control risks ar8 also mlnlmls8d by th8 implementation of procedures for authorisation of all trans8clions and projects and the policies of the Qualty Manag8m8nt System. predureS are in place lo ensure compliance with regulations. These procedures and kK)li¢ie$ are periodically reviewed to ensure that they continue to meet requirements. RPons• to Nmd Most of the training provision is developed at the specific request of the client to meet either change management or engineering in11live. The training provKled covers all levels of manag8m8nt from 18am leaders and new graduates lo middle and senior management. Close Ilaison wrth ¢llents along w6th a well-m8naged feedback system Is In place and Is used to gauge s8tisfaction of the deliv8rylcontent of training and the leaming environment. All feedback Is channelled into regular reviews and 8Ctioned through the knowledge management and the facllities datsbases. All accepted changes then form the basis for future training programme5, service provisK*n and facilrty enhantxments. Fundlng of Aetlvltl•8 Activltles are funded by the charges made lo clients for the provision of training, venu8 facilities and associated seNices. Additional income is earned from interest on bank deposits, r8nts from properties not currently used for training purp)ses arKI from re¢harges for telephone and other seThtces provided for delegates. During the period ending 31 March 2021, income was generated from the followin9 sources.. 2020-21 £000 675 2019-20 £000 4.110 202 26 59 Fees eamed Trading Subsidiary (Gift Aid) Grant Rents and Sundry Income Investment Income Other Income 930 5% <1% <1° 53% 32 <1% <1% <1° <lOh Total Incorne £1,523 £4,403
ashornehill Creatu]88rnWth th)ikle Fund Ralslng The College does engag8 in fund raising a¢livilies. Flnanclal Revlew As the COVID-19 pandern has evolved during 2020 and into 2021, the Impact on the College has been significant. Onsite operations ceased from late March 2020 until April 2021. when the College was able to reopen. Virtual and digital training prowsion was ongoing throughout this pèriod. The College has also benefrtted from the Govemment Business Rates Relief provision and Coronavlrus Job Retention Scheme. In 20221 thé College had a cash outfiow from operating 8Ctivitles of £91.972 1201 20. £22.8891 from totsl income of £1.523,3251201 20. £4.403.0841. After capitsl exp6nditure of £48.415 the College had an oufflow of cash of £132,773 {20120.. £215.348} and decrease In funds of £1.380.718 {201920: £243,873). This has decreased total funds to £6,325,843 at 31 March 20211£7.706,561 at 31 March 2020). Cash resèrvès have been preserved well glven the slgnlficant op&rating deficit caused by the operallonal Impact of thè Covid-19 pandemic. As••ts The College's main assets include the leasehold land and buildings at Ashome Hlll and the ffttings and equipment necessary to achieve the provis*)n of education and Iraining. There have been no revaluatlons of fixed assets during the year and th8 Trustees are $81i¥fied Ih¥t the a¥svt values are reasonabty refiected in the balance sheet and that the rates of depreciation u88d are appropriate to relkcl the dimInutn in value durlng the year. Reserves The Group's reserves total £6.325.843 of whlch £4,943,430 15 held as fixed assets (of which £129.280 is held as restricled reseTve5). After deduction of desynated funds of £1,461,950, thls leaves the balance of free reserves a3 £nil. As a residential training college within a Grade Il. IBted buildlng AHMC incurs 8 high level of fixed costs in maintaining tho fabric and condition of the facility- In the event of significantly adverse business conditions. the Trustees consider it prudent to hold minimum free reserves of £600,000. being approximately three months of ovethead costs. Any free reserves held in excess of this mlnimum are retsined to support the charity in times of finan¢ial uncertainty. The Trustees confim that the Charity will Work to rebuikl free reseples, and review funds that have been designated, in order to meet the minimum free reserves target of £600,01)O.
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Subsldlary Company
In January 2005 8 tradlng subsldiary. Ashome Hill (Trading) Limited, was established to
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ashornehill CTratin8wwththropeOp]e them to ensure that the financial statements mplY with the Companies Act 2006 and also responsible for ensuriro that the assets are properly applied in accordance wth Charity Law. They are also responsible for safeguarding the assets of the charilable company and the group and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. 10. Statement on Dls¢losur• of Infomiatlon to th• Audttorn So far as each TnJste8 aware. there Is no relevant audtl infonnation of which the Charity's auditors are unaware. Each Trustee has taken all the steps (such as maklng enquirl8s of other Trustees and the auditors and any other steps required by the Trustee's duty to exercise due care, skill and dlligen¢el that he oughl to have taken in his duty as a Truste6 in order to make himself aware of any relevant audii infomation and to establish that the Charty'5 auditors are aware of that infomiation. 11. Audltor A resolution to reappoint RSM UK Audit LLP as audlior for th8 ensulng year will be proposed at the forthcoming annual generdl rneeling. Approved by the Board of Tru8t688 and sKJned on its béhalf by: . Trust88 Date I 2021 Trustee Dat8 l y 1012021
ashornehill INDEPENDEHf AUDifoR'S REPORT TO THE MEIIIBERS OF ASHORNE HILL MANAGEMENT COLLEGE Oplnlon We have audited the finan&al slaternents ol Ashomè Hill Mwemenl (th• 'par8nt th1t9b company'l and its subsidiaries (the 'groL¢)'I for thè #r eTrJed 31 March 221 whh MPrIse the Consolidated Statemanl of Financial AdVIt, th6 Consolidated Bal Sheels. the Con5(Aidated Cash Fbw Stslement and notas to the flnancAal 5talem8nts, indudiro s¥Jnfficant actomliThJ px)Iiw. The finanual reportsng fram6%rk that has b8en applied in their weparalion is ap1¢able and United '0M Accounb"ng Stand#rd5. IndEir£ FRS 102 'Th• Financid Rewrtir¥J Stsndaftl appl in ts UK RoFAth of Ir•larKI" (UNte(l Gen•rnlty Ace•pt•d Accounting Practica). In ourothlon Ih6ffinand81 stat•manls". l¥• a tru8 and tsir vw4 01 the slats ofts gro.8 #rby thts par•nt chwiith cc4nwy'• •ff8lr& as at 31 M8rth 2021 and of the gr¢yJp's incornirKJ rnsour¢•6 •KI aFWKation ol r•wrw, ts4udkng Its Income end eX+ture, lor the year end1,. havè b8en pr¢wly preparwj in lfjTrJd Genor81ty Acthptl A¢nrIa Practice,. and have been prepared In the wulrements of lh• Comwl¢s ALI 2C#)6 and the ChaAO•s Ac12011. 8a•l• for oplnlon We havo beon appolnl¢d audrtorn urth the COMP¥ Ad 2C)6 8nd sgthl 151 of Ihfr Charfties Act 2011 and rewrt In 0¢¢orda with those Acts. W6 conduct&# our auilil in a¢cordance wih Intamaln8I Standards on Audrtirg IUKI IISAS IUKII and ¥pplic8ble law. Our ra$pSt¥ll&S wthler1 stsrwJwd8 •rn fLKthw dwiib•d in th• Auditorf8 106ponslI•S for th• aud of the finanoal sl8tem8nts SOCI ol our rewjrt. We are in¢Yependent of Ihè group oThJ parent charitable conpany In ¢ofanCe the èthical ruireMents Ih8¢ a rnlevont to our d[t of the finandal st8tomenls in thè VK. Including th• FRC $ Elli Slandard and wa h85 fuMlll•d our olh•r ebal fespms1b51itS in &c¢ord•nco vAth thw rgquirements. We that th• audit h0 oirt&in•J Is suffiLart a) appropriate to Pd0 b&sis for our opinK)n. Conclu•l¢)n• r•latlng to golro cone•m In audillng the finanal staternents, wa have Codj that th• I1•1, u8• oflh• gr4ry c4>rKwi of pKcounllng In th8 of Ihe finwK4al Sts1ts is 8pprDwlale. Based on have parfonnsd, have Th)1 Idents matèrial unrrt8intie6 relating to evènts or coThJitths that, indlu?1 orcolwvety. may cast signfficant Owb¢ on ts grjp'S orp8Tenl ¢harft•bl& eKJmpany'$ #bil'ty lo ¢ontinue as a golrrj cOnn for a PWK4J Of kni ts¥dve rnonths lffjm when tha finand 518tem8nts are authoFiswJ for issue. Our wponsiblit$ and the SponSI1rtlos of th& Intstw res lo goffj Conc are described in the rdevant sections of this rep)rt. Oth•r InforMon Th8 other information onprtses thè infomwtw indwJ&J in the TnAst•as Annud RgFQrt otherthan Ihe finandAI ststements and our audltols rwrt th¢r•on. The trvstees we resp1b18 for Ihe other infomiation contained wlthin tha TNst8es Annual ReFQrt Our c¢)ir¥on on Ihe finarLyal statemts does not COV8f thè other inlormatK¢n and, except to the ext8nt oth4 •xFIK>lly 3tsted in our reFxrt not exrKess any lo ofassurnnc4 conduslon thereon. Our r&sn91.11ty is to read the other inforn aTrJ, in (kyng g). Vknetrrthe Olher infomiation15 MatallY intt)n5iStent with the financial Statnts or our k[ oblained in the o)utse oftha 8udit or otheMse appears to be materialty mi8Stated. 11 we identify su¢ maleri4 IrKorlSlenC¥0g or apparent rn8terial mis5talements. we are requi to detemiinè vhther thi8 gNes rise to a material rnissiatement in the finanaal ststernents themsdves. 11, bas on Ihe M)rk we have perfOrnd, Cond18 that the is a rnatal misstat8m8nt of this other infomiath)n. we are requIj io reFQrt thal f.
ashornehill crtstlngwrththr01Feop]e We have rK)thn9 to reF#Yt in rwJ8rd. Oplnlons on oth•r prescrlbed by th• ConyAnlos Act 2006 In our opinK)n, b858d on the rk undertaken in Ihg ¢xKJrse of the wdil.. the inforn8lion given in Ihe Trustees, Report lor the fin¥thl yoar for vthlc the finaThial staterngnts arg prepared Ss ttent tha stat8m8nts,' and the Trustees. Réport ha$ been prepared in xc¥Jrdar#x wilh applKable legal wUNemts. Matt•r• on whlch w• ar• rnqulr•d to r•wt by •xe•pllon In th6 ligm of tho kncv•19ts and u16talIfvj of Ihe gThp and lh8 pafwbt charrtabkg c4)rnpany and their environment obtsined th8 ry)urse of audiL we hwe t KJ8nbW mri81 mb6tatwn8nts In the Tfu8t8•8' Report. Wé hav• nothiNJ to rèwjrt in r•sFrft d the fOlkA¥1 tter3 cpleS Act 2006 and tho CharfU88 Ad 2011 rulTS W to rert io you rf. in our On)n.. qvale and suffvent ac[unn9 IOrdS hbve rKJl k•pt by Ihe paront eharitabl• or retums adequate forouraudh hav8 t b88n fwv•J from l>rnnrhg5 rvJl Visit by u8,. or lh¢ parèni chaiitabb company financial statwnenls are in aGreent with the aculunr@ records and retums.. Of hav• not raC•N all thè infomab'on and explanolws we require lor our audtt.. or the Trustees nol tIlled to prepare th• financlal stst8rnents In coance vlth th• small companies r8glrne and take 8dvantage ol the smdl ¢J)mpaniès èxèmplion from fv rg4uIremt to 8 Str8t•gK RW Of in pr8pantYJ T1•. RWL R••pon•lblllll•• of tru•lw• As explalned more fulty the Slat•m•nt 0fTrS' n8p11 sst c4rt ffi p4g& 7. trustees (who are 8180 dirtctots ol thè tharita g)mpany for Ihe purse8 ol ccynpary lawl a responsiblelor the preparath'on of Ihe flnandal stolemts and lor saithd Ih81 they gfve 8 true and f8ir and for suth intema conlrd a9 the trustoes det•rmlne Is nec•ss8ry to onablè th• pr•poraUM of financg1 st¥tw•ts that art from mat8nal mlSst8l•ml. wh•th8r ¢Ju• to fr8ua or arror. In prepadro the flnwKaal Ststwnwts. the InAtseB a Tesporthknb for as8as%ThJ the group's par•nt thBntsblè cornyny's ability to conts"ThJ• 95 a gn9 concam, disdosing, a5 ¥>plub18, rnatte relaled lo 90ing cx)rrAm and usiry lh8 going Lx)rrn basi5 of acrountiThJ unless the Iwsleg5 eilher intend lo IkJuld8te the group or parent thwrt8bK8 cornpany or to C8 opwation6. or have rK¢ wltstic tematNe but lo do so. Audltof• mportlblllth• lorth• udlt oltho Ilnanclal ¥tatem•nts Our obJgCtlve5 are to obtain reawnable assurance K)Ut vknether the fin¢181 Slaternenls as a w)18 ar• frn8 Irom rnaterial rnis5taternent. whether due lo fraj or error, is$ an aJJJrtorfs r•port that intJdes our opinion. Roasonable assurwth is a high level ol a5suranLY, bui is a gu8ranl8e th8t an audit condwted in a¢ry)rden wilh ISAS IUKI will 8Ws delerA a mat81 MStatement when il exisls. Misststernenls can arisè from fraud or error and are ccMisbJwed material rf. wthAJualty or in the tygrwJatè, Ilw LX)uld reawn8bly bg exPted to lrfuencfr th• ec0M d3$Tor6 of usets tthen on the basi¥ ol these finarKial statemerts. The •xt•nt to whlch th• audll Tm conxld•r•d ¢apalJl• of d•t•ctlDq Irr•gularlll•s, Includln9 fraud Irregularities are inslarKw of non-O)mplianc law5 and regulabDns. The Oblt85 of our audit are to obtsin sUfficnt appropriate ajdit eVKIen warth'ng Comp1kCe with regUtiOnS th81 have a direct efft on th8 det8rrnin8tion of material arUnts and discknures in Ihe stslements. to perfomi audrt prOcureS to help Idlty instance5 of n-Imp1K8n oiher laws aThJ rWJuIatns Ihat may have a material Offt on Iho finala1 stat&nents, and to resnd appropriaidy to enI[fi gr $u5mgd non-(r)mgliance wilh laws and rwJulions id•ntird tlurirrfJ •Jdit. In relats.on to fraud. the ot*Nes of ow audtt are and assess thè risk of materi81 rnis5t8t8ment of th8 finan81 5tatem8r)ts duè to fraud. to obtain Sropriate audit eviden w8rding the assessed risks ol rn8terial rnisstalwnt due to fr8ud through des#JnirMJ impthentiThJ appropriate reSpSe$ and to reswn(S propriatdy to fraud or susp&#ed fraud idt[fied durirrfJ the art. -10
ashornehill However, it Is the wimary )nsibilty d managnt. 1h the ovwsyhl of those Charged with ¥8manCe, to ensure that the 8ntity'S operatitins are (x)ndLthS in the FThts¥)ns of I and regulth.ons and for the prevent)n and detectK)n of fraud. In irJ8ntrfying and assessirKJ risks of material rnlsstatemt in SpeCt of irrvwLweS. induding fraud. the group audit eng&Jement t8wn'. obtsined an underslanding of the natu of Ihe Sr, indudiry the legaf and regulatory framerk that the group and parent charitatAe cthnpany opwate and the grovp pawt tharitsble company arg ¢Y)mying wAlh the kgal and regulatory frarYwAth., inquired of man&JemenL and those charged with WVeMce, x>ut Ihwr ly identrfi¢atk)n assossm&rt of the risks of irregulanlies. indudin9 any known or alleged instsnces of fraud., dis(yJssed matt8r5 8t<MJt no[lIance ¥th Iws 8nd rwwlanS lthyfraud nwJht oCr indudw)g assessm1 of how and Whe the fina statherrts may be $ltiN8 to fraud. As a resutt of Ihe89 ProclU[B5 Lfsler the most svjnificant law5 wulations that havè a diract impt on the financ4al Statnets are FRS 102. Charities S(X<P {FRS 102}. Cornp8nies Act 21KJ6. CharitK8S Act 2011, the Pafent charitsL46 MpanY'S go¥eming th)DJmwt. ta¥ b3$latn Charibes (Protection and Soual Inv8Strnentl Act 2016. We pwfomed audit PrQEdUreS to det n-mpl1an whid) may have a [Ttell31 irnt on the financaal 3tstemenls which induded reviv•iry the financial staternent5 including the Truskns, Report rernainiThJ alert to new or unusual tranSl)n$ may be in dance with the governing documents and inspecting minute book% and other intemd recorts. The most signfficant IS ané wulatio1 that have an indirera imm on ts finan81 sternents are those in rdation to ernpbyTnant law. We perf0ml audrt [WodureS to 1Th]Ui of ManageMt whether the group Is h comFAi( wth these and rwJulalK)ns. Th• group audit errfJajent team the risk of mwfaJernent oveThide of cntrOl$ as the area vthere the financi stat8rnents were rn1 susceptibk to matsrial misstatement due to fraud. AJrt ProurES performed induded but were not limrted ¢0 testir#J manual Journal entres and other adjustmwlb, evaluating the business rationaje in. relatIC to sKJnffjwt. LinLtsLial tsnsaCtKs and tran&•a•)ns te intr.J oiJLsth the nom)al course business, th4lwwJirwJ judgments and estimates. A further descripticm of our reSkY)nsits"l.es for the wdit of the finan(#al Statennts is prOvKI on the Finanryal Rworb"ng Council's b$ at .ukJaudrtors sibil This description fonns part of our auditorfs reporL Us• of our rowt This report is mad¢ to lh¢ tharrtth company's nrnb•r5. as a accordarts with Chapter 3 of Part 16 of the Companies Act 2. (r audit wyk has been Undertak so 1hat we rnJhl state to the charitable compan9 members those matters we are reqioray sl to thwn au3 report and for rKJ other purpose. To Iha fullest èxtent pemirtted ty l&v. (lo Th)t pt LW assume wsjbilty to an)ne other than the charitJle c¥)rnpany aryl the thafitth m•rJb* as a tc4ty, our aujit vrk, for this rerl or forthe opini$ we havef0m1. Anna sper-GraY Isenior Statutory Auditor) For and on b8ha of RSM UK AUDtr LLP. SlalLrtory Awjitor Chartered A¢utants St Philips Point Templ8 Row rmiroham B2 SAF Date 15 Octob8r 2021 -11
ashornehill Creatingh through Fvle ConlIdata Stst•m•nt of Flnanci•lAciivldty Onwpor the lrteom• & EAp•ttdlr• Acwrtl For th• yurto 31" March 2021 Axhom• HIN Minty•rn•nt Regi8t8rJ No. LW791 Roth'ct•J Funds Yg•r8rKlod Notss 31 2021 31 March 2021 Total F%JNI Year end•J 31 March 2021 FUTr Totsl FuTrJs Y8ar8nd8d 31 Marth2W20 1101 674,949 674.949 32.025 808.737 1.239 6.375 4,109.855 280.219 26.273 Qthor IrwJlNJ octhhh• Gi8nts Inv8sMrts (bank httaroitl Oth•r Iprofft cffj dtsKrf)s11 L4 ts•J al) 808,737 6.375 233 ToiAI Ine¢m• 1.523.32S 1,523,325 4,403,084 ChBrltabKry thfd85 funds 2.657.752 49.447 189.r 2,fj65,598 49,447 189,000 4.401,787 56,170 189.000 Other Totti •xp•Thiii¥r• 2,896.199 2.&,043 4,846,957 Il•t •xp•ndMur• lor th• yw 11.3720741 17.8441 11,380,718) 1243,8731 N•t mown•tht In fund¥ 11.372.874) [7,8441 11,390,718) (241,8731 T¢Lql fvnd• ght •t 1 I,.437 131.124 1.¥50,4J4 Totsl fvnd$ ffywwd •131 6.196.583 129.260 6.325,843 T,7(,561 Statent o11knal athl*s 81 lh• y•w. -12
ashornehill COnNdaled & Chwlty Baln¢• Shwts •131 2021 A8horn• Hll IAana9•m•nt Colkny• Regkstsred No. 00889791 GrDUP 31 March 2021 Group 31 K4arch 2020 Charity 31 March 2020 31 Marth 221 Flx•d Tangl8 FIx8d Asgets 4,943,430 4,943.th1 5.326.568 5,326,568 Inv••trn•nt• Sh8res In A2hc¢M Fkll Urathgl Lttl Stoths 12 13 7.782 2.050 1.938.270 7.762 234.8 1,936.070 21.387 857.684 2,Cfj9,043 21.387 1,93e,995 1,887,730 C•sh •1 b•nk In hwKI 2.174.082 2.178.662 2,948,114 2,948,112 Ll•bllW: wrKwJrt• tslln9 th• wlthlTr 14 1689.5861 1669.5861 1446.0381 1448.0381 1.$04.496 1.509.070 2.502,076 2,502.074 LhhlllWw.' •mountshlln9 du• th•n or• y•ar 14 1122.¢J831 1122.0831 1122.0831 1122.0831 Tot•1 AM•ts l•M Lthblllth• 6,325,843 6,330,425 7,708.se1 7.706,561 Fund• lJfir•slthd Funds R•thcted FuTrJ8 17 6.198.563 129.280 8,201,145 129,280 7,569.437 137.124 T.5.437 137,124 Tolal Chary Fund• 8.325,843 6.330.426 7,7C,561 7,7Cfj.561 /z Th8 TrX8son p3985 15to 28 forni oflWfffwd* stat•mwts. -13
ashornehill Con8olld•tsd stat•m•fttC•$hflo forth• y•Jr 31 IlvGh 2021 A8horn• Hlll lAanag•rngntCI•g? Registered No. 00889791 Y8arto 31 Morch 2020 31 Marth Cash reduction Irc4D operaticffis 191.9721 122,8891 191.9r21 IT2.8891 Inte¢ FeGdved Payments lo acquire Ibx•J aslets R•c¢lpts from dL8po$d oft8rvJfthl •$•• 1.239 148.4151 6,375 1199,1961 233 Not used In Irweslng 8th 140,W11 1192,4591 Change h cash and ca8h ualS h th• rowtthg F4Jrl)d 1132,7T31 1215,3481 Ah•ly•b• of M•h •nd ¢Mh •qufv•hnts Cash and cash •qthknntS•ith• the repc¥Urffj p8rkJd 2,M,043 2.284,391 C•oh •nd ¢••h •lth•thJ oftt rapNUng 1,936.270 2,C69,043 Not•• to Slat•m•n¢ ol ¢•sMIow• Y•wto 31 Year lo 31 M8r( 202 N818xpen¢ture Internsl feulvabte Depre0aon oI8rges 11.380.718 11,2391 431.553 18,3751 13.625 827.832 223,SSO 1243,8731 16,5041 494,334 12331 6,023 179.384 1452,0201 Decrea88 In sto$ Docrea88 th dobt( Incr•48el Id•cr•a881 In u•JNo 191,9721 122.8891 -14
ashornehill Creatin8QVrth through wplé Ashorne Hill Management College Year Endod 31 March 2021 Notes to the Flnanclal sLeMents A¢untIng Pollcl•8 The Pri1paI accounting pol105 are summarised bek)w. The accounting polici8s have been applled consistentty throughout the year and in the precedlng year. (a) Basls of Accountlng The financial ststements have been prepared in acccydance with the Ststemenl of Recommended Practice "Accounting and ReFQrting by Charities preparing Iheir accounts in accordance with the Financhql Reporting Standard applicable in the UK and Republic of Ireland" (Charllies SORP {FRS 1021) issued on 16 July 2014 and FRS 102 "The Financial Reporting Standard appllcable in the Untted Kingdom and Republic of Ireland. (-FRS 1021 and the reqU1mentS of the Companlgs Act 2006 and UK Generalty ApIed Aco)untlng Practicé as It applles from 1 January 2015. The financial statements are prepared in sterling. which Is the functional currency of the charity. Monetary amounts in these fin8ndal ststements are rounded to the nearest £. Ashome Hill Management College meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaclSon value unless otherwlse stated In the relevant aOUntIng Folicy note(s). (b) Golng Conc•m As the COVID-19 pandftmir. rnntlDU88 to evnlvft, stress testing of the College's operations and financial foraStS until 31 March 2023 has been carried out. This stress testing has satisfied the Trustees that the College is able to de81 with the impact of the pandemlc. by mean8 of a combination of mitigation strategles and the utili8ation, if necessary, of Its financlal reseprfes. (c) Con80lidatlon The consolidated stslement of financial activiti8s, balance sheet and statement of cashflows include the charity aThJ lis trading subsidkqry. The consolldatlon Is prepared on a line-by-llne basis. The trading subsidiary was established to transact non-charitable business and gift aid profils back to the Charity. Refer to Notes 13 for amounts owed to the Charlty by the Trading Subsidiary. Refer to Note 21 for the financlal summary of the trading subsidiary. A separate statement of financial actNitss {SOFA) for the charity is not presented because it has taken advantsge of the availab exemption under Section 408 of ihe Companies Act 2006. The k)ss dealt within the financial statements of the parent company was £1,376,136 (201920: £420,687). (d) Incomè and Expondltur• Account The Statemenl of Financial Activiiies on page 12 discloses the identical infomiation as that of the Income and Expenditure account ar)d as such no Income and Expenditure account has been prepared. 15
ashornehill Notes to the Financial Statements (continued) Accounllng Pollcles (contlnu•d) (e) Fund Ac¢ountlng Unrestricted funds are available for use at the diretion of the trustees Sn furtherance of the general objectives of the charity. Designated funds are unrestricted funds eamiarked by the Iruste8s for PartUlar purposes. Designated furth Include a bulldlng r8s8rv8 and a d8v8lopment fvnd (refer to Note 17). Restrlcted funds relate to donations and grants held for specific deflned uses. (fj Incomo Income includes Income from Training Cournes and Training aThJ Conf8r8nc8 facilities excluding VAT. All income is includ8d in the Ststemenl of Financial Activtties when r1Vable. i.e. when the course or event to which they relate tskes place. Included in Course In(x)me are urse (Jevelopment funds that may b8 recelved from tlme to tlme. All Income 18 9enerated from activities withln the UK. The Income relatlng to courses or evènts invoiced in advance of the course or event taking place Is treated as d8f8rred income. cred for which is only taken during the accounting period in which that income is earned. Other trading actlvtties of £32.025 (20120.. £260.219) Include Rental and Sundry Income of £31,561 1{201920'. £58,692) and Incom6 generated by the Trading Subsidiary of £464((2012o'. £201.527). (g) Expondltur• ExpendSture is recognised on an accrual basis as a liability is incurred. It Is analysed on an actual basis over cat8gories consistent with the Charivs operaling activities. using the following methods. Fund isin costs Expendrture incurred In the provk8n of facilliies which are SUbt or otherwise used to generate Income from the subsidiary's trJing actrvtties and rents. Costs include nt payable. utllty 8eThice8, maintènance, administration cost allowances and depwiallon. Charitable activthes cost This comprises those costs incurred by the charity In the delivery of its acttvities and services. It includes both costs that ¢8n be allocated direcuy to such activities and those costs of an indirect nature necesswy to support th8m. It is analysed into the following Categories.. Training Courses Expenditure incurred in the preParatn and provlslon of residential and off-site courses. induding training consuttant emoluments, associate fees, direct and indirect overheads. administration and depreciatK)n. Training and Conferenc* Facilit8 - Expenditure incurred in support of AHMC facilitses including catering. housekeeping, front of house, information technology. maintenance of buildings, grounds and equipment. administration and depreciation. -16
ashornehill Cwtinggrcrtvth through Notes to the Financial Statements (contlnued) Accountlng Pollcles (contlnued) rt Costs Support costs include central funclions and govemance costs. All costs are 81Focated beeen th8 èxpenditure categori8s of the SOFA on the basis designed to flect the use of the resource. Costs relating to a particular activity a allocated directly, others 8re apportioned on an appropriate basis e.g. knr area. caplta or estim8ted usage as set out in Note 4. Exce tion81 Items The Group clasSifS certain one-off charges or credlls that have a malerlal Impact on the Group's financial resulls as eXCept+nal Items. These are disclosed separatety to provide further understanding of thè finartial p8rf0rnnCe of the Group. (h) Flxod A8s0ts Fixéd assels18xclLKJlng stocks and InVeSthntS) are stste(18l cost less ac¢umul8ted depreciation and any impaiment losses. Deprecialion is provided at rates calculated to write off the cost or r&valued amounts of each assel in equal instslments over Its expected useful lrfe. Long Leasehold life. comprising structural improvements to buildings, has been rea&8e$se(I to be until 281h September 2067, being the remainder of the lease {see note 1(0)). The other effective INes and rates of depredation are as follows: FixtLtres. fittings, tools & equipment. lift, car p8 Telecommunications equipment Motor Vehicles Computer equlpment 3-15 year8 3-4year8 4- 10 y8ar8 3-4years The Charity does not capitali8e assets costing less than £250. Where there Is some indication that the recoverable amount of a funcilonal fixed asset Is below its net Lwk value an impairment review would b8 caled out, where possible on ir1VIdUal as$et$. A fixed asset is recognised for leasing agreements that trnnsfer to the Charty subslantialty all the risks and rewards incidental to ovfflership Inance lea5es'). The amount capitalised is the fair value of the leased asset or. if lower, the present value of the minimum lease payments payable durlng the lease temi. both detemiined at InrRption of the lease. (i) Stocks stocks are shown at the lower of cost and net r88lisable value. These include atering supplies and fuel oil. o) Inveslmonts The investment hekd as fixed assets is the value of the shares held in the subsidiary. Ashome Hill (Trading) Limited. This is induded in the financial stat8ments at cost. (k) Major Malnlonan Major repairs and renewdb to the leasehokl property are charged to the statement of financial activtiies in the year in whith the charges arise. -17
ashornehill creatingtr*th thrnu8htwle Notes to the Financlal Ststements Icontlnued) Accountlng Policigs (continued) (i) Pensions The College made contributions on behalf of employees Into an Aviva personal pension scheme operdted on a defined contrfbulion basls. Contributions to the Group's defined contribution pension scheme a charged to the statement of financial activities in the year in whh they beconw payable. (i) Loas•s ratin Operating lease rentals are ch8rged to the ststement of financSal actlviti68 on straight-line basis over the lease temi. ii, Finance lease$ - Ihe cha as less An asset and corresponding liatrylty are recognised for leaslng agreements that transfer to th8 Charity substantialty all of the risks and rewards incidental to ownership (nance leases.). The amount calised is the fair value of ihe leased 88set or, il lower, the present value of the minimum lease payments payable during the lease tem. both detemiined at InCeptn of the lease. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant perIOd rate of Interèst on th8 remaining balance of the liabilty. Contingent rents are expensed as incurred. (m) Flnanclal Instruments The Group only has finanaal alS and liabiltties of a klnd that qualfy 88 basic financial instruments and are not considered to be of financial nature. Such flnancial instruments are initialty recognised at transaclion value arKI subsequently m&asured at their settlement value. Debtors - Trade detéors and other debtors whlch are recelvable within one y88r and which do nol constitute a financing transaction are initially measured at the transaction price. Trade debtors and other debtors are subsequently measured at amortised cost, being the transaction pr jess any amounts settled and any impainnent losses. Cash at bank and in hand - Cash at bank and In hand Includes cash and monies on short lemi deFrt)sits al the bank, other short-tem liquMI investments with original maturtties of thr88 months or less. crltorS - Creditors provisions are recognised where the group has a present obligation resuhing from a past event that wll probably result in the transfer of funds to a third paty and the amount due tr) settle the obligation can be rneasured or estimated reliably. Credrlors and provisions are normally recognised at their settiement amount after allowing for any trydde discounts due. (n) Employee bon•fits The costs of short-tenn employee benefts are reo)gnised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in whh the employee's services are receNed. -18
ashornehill Notes to the Financial Stalements (contlnued) Accounllng Pollclos Icontlnuod) (n) Employoe b•nofit8 (contlnufjd Tennination b8nefrts are recognised immediately as an expense when the College FS damonstrably committed to tsminate the employment of an empk)yee or to provide temination beneffts. (o) Crltlcal ac¢ounllng ostlmates and areas of Judgement Eslimat8s and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonabl8 under the urcumstsnces. In categorising leasgs as finar)ce leases or operatlng leases, management makes Judgements as to whether sBJnrficanl risks and rewards of ownership h8ve transferred to the Company as lessee, or the le&8ee, where the Company is a lessor. (p) L•gal status of the charltablo company Ashome Hill Management College is a charltable company and 1$ also reglstered as a charfty at the Charity Commission in England and Wales. The charttable Company Is limited by guarantee and as such has no issued share capSts1. The Ilabllty of members in the event of the company being wound up is limited to £1,000. The registered office and principal place of business is Ashome Hill, Leamington Spa. Warwickshir8 CV33 9QW. The group Consists of Ashome Hill Management College aThJ its on8 subshli8ry, Ash0 Hill (Trading) Ltd. The group's prinwal objective Is the advancement of education and leaming, in particular the raislng of the standards of management and leadership skills, across all sectors. Charltable Actlvltle$ UnrtrIC1•d 2020.21 Tolal £ 2019-20 Totsl £ Training Courses Training & Conference Facilrties 566.465 108,484 566.465 1,345,793 108.484 2,764,062 Totsl Income from Chartt8bl8 Activitles 674.949 674,949 4.109,855 Grants Unrestricted 2020-21 Total £ 2019-20 Total £ Coronaviru5 Job Retentn Scheme 808,737 808,737 26,273 Total Income from Donations 808,737 808,737 26,273 -19
ashornehiLI Expondlture Fwxls Funds 20221 Totsl 201&20 Total JkJcatK FvTr Faclkns Fac41thts Co¥t¥ dSr•ctyalloc•l•d to acVItI•¥ Tmlraty-ptsyr 185.816 185,848 )J8,341 Tralrlno-cxher n,146 73,146 268,412 2,1H 192,144 215,987 & Bw r•rt 383.146 383,146 1.0)&.139 Fronl of H 150.253 150,253 228.236 US•k•e rttt 1K,fA3 190,083 283.396 Commh Op• PL•nnlng" otr•r 2,4B3 21,78e Co•1• •ll01•d tt¥ Sthff G•nernl offlc•Mnance stAff nme 03.5 128.463 408.291 Sundry m81nt•nHnc• 11,172 14.976 Offlca cc4ts 15.970 15.970 31.940 44,530 IT conlraders PC uws 16,999 18,999 10,697 Fth¢ R•nl 28.189 1&1B8 216.342 255,719 47,8M 411,542 431.553 494,334 L•gal & Prof•8onal 27.991 2T,991 110,898 Flo¢1 10,057 98,202 259.865 stsff Tim• Staff Tim Cv. Payroll 73.034 148,Crf8 169,958 Ckn¥. Other 11,525 11.525 23,09) 59,822 Ops Pknnlr¥J- P8yrc4 Tlrr 57.JS 86,707 144.512 177,311 E•tates- Pawol 6.023 104,827 120,085 Fknx E8iatss- MdnL8Mr 77,6lXI stsff mo GO¥anCe Costs 152 7,511 7.511 15,174 13,141 Total% 49,447 767,712 1.,010 2.715.043 4,457,958 -20-
ashornehill Creatin8tyh through Othor oxpendltur• 2021%21 2019-2020 Finance lease interest payable 189.(M)O 189.000 Not Income for the Y•ar This is stated after charging.. 20221 2019-20 Depreciation on owned assets Auditors, remuneration - Audit servlces Other 431,553 14,930 1.310 494.334 12.600 1.500 Charges for audit sèrvices of £14.930 are split as £11,680 for the Charity and £3.250 for Ashome Hill {Trading) Ltd. Other servlces provlded by RSM UK relate to Corporatlon Tax compliance Servtss for Ashom8 Hlll {Tradingl Ltd. For operatlng leases refer to Note 19. Staff Cwl• and Numbors The total stsff costs of tho Group comprised: Y•w •nd•d 31 March 2021 Y•ar •ndod 31 m4h 2020 Salaries and wages I, 11 Employer's Nl costs Pension costs 1.476,944 118,359 86,432 1.982,081 168,589 122.657 1,681,735 2,273.327 Employees whose emoluments exceeded the annual rate of £60,0(Ki during the perlod were 86 follows.. Year ended 31 March 2021 Number Y•ar anded 31 M•rch 2020 Number £60.001 to £70,000 Pension $ts for these employees in the period were £15.699 (20120.. £13,188). The average nUfflr of persons employed durirwJ the year was.. Year •nd•d 31 Mah 2010 Number Yoar •nd•d 31 March 2020 Number Training Consuliants Other full time employees Other part time emoYeeS 49 15 62 18 i) The staff costs above include £nil vthich was paid as a management fee for the services of one member of senior staff during the year {20120.. £124,800). The trading subsidiary employs no staff. -21
ashornehiLI Creatingyththroughr Staff Costs and Numbers (continued) Key managomont r•munerallon The key management personnel of the parent charitabl8 company compris8 the Trustees and Mr J Carson, the Managing DItOr, being those respx)nsible for the day-to4ay running of the charity. The total employee benefits for key management personnel of the charitable Company and group was £nill2012O'. £124.800 - see also note 7{i)). This amount is a recharge from Jaguar Land Rover of salary. pension and national insurance contributions for the Managing Director. Reimbursement of Charity expenses totslling £nil were made to Mr J Carson in the Year(20120.. £260.82). The other Trustees received no remuneration in r8spect of their duties as Trustees. Trusto0 Romun•ratlon The Charity paid no remuneration to Tru8te8s In resp8Gt of thelr dutles a8 Trustees during the year. No retirement benefits are accnjing to thg Trustees under a pension scheme in respect of qualfying service. During the period travel costs amounting to £nll (20120 £237) were reimbursed to no Trustees12019-20- 1). Rolatod Party Transactlons Saveral of the Charty's Trustees are also directors or senKir managers of Jaguar Land Rover Ltd or Tala Steel Europe Ltd {both part of the Tata group of companies). During the year the following business was transacted with Ashom8 Hill (Trading) (company registration No: 05335543). Jaguar Land Rover and the Tata Group: 202fy2021 Trnnmctlo B•lanc• al 201fv20 31 Marth Tranuctlon• 2021 B•lanc• at 31 March 2020 Charges to Ashome Hill (Trading) for 8ervi¢es 46 24,653 Amounts owed by Ashome Hill ITr8dingl Charges to Jaguar Land Rover for courses and services Charges to other Tata Group companies for courses and servi¢es Services supplied by Jaguar Land Rover 4.780 181.312 6,259 1,132,273 437.438 16,810 139,300 15.894 210,C0 210.000 10. Taxation As a charity AHMC is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or $256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to tts chargeable ot4ects. No income tax charges have arisen in the Charity. The College is regislered for VAT. -22-
ashornehill Creatinggrowththrou8h IpIe 11. Tanglble Flx•d As$¢ts Group and Charlty Total Long Lu#•hold Flxtur•s, Flttlngs Property & Equipment Vehlcles At 1 April 2020 11.671.515 6.603.735 5.007.128 60,652 Additions 48.415 43,215 5,20D Disposals 1149.4411 1133.191) 116.2501 At 31 March 2021 11,570,489 8.3.135 4.917,152 49.602 Ac¢umulat•d D•prKlotlon At 1 April 2020 6,344.947 2.455.353 3.844,514 45,080 Charge for year 431.553 118,380 309,076 4,097 Dlsposals {149.441) {133.191} 116,2501 At 31 March 2021 6,627,059 2.573,733 4,020,399 32.927 Not Book Value At 31 Marth 2021 At 31 March 2020 12. Stocks Group and Charlty 31 March 2021 31 March 2020 Fuel Catering Supplies 6.472 1.290 21,387 7.762 21,387 -23-
ashornehill Creaiinggrowth through 13. Debtors 31 Mar 2021 31 Mar 2021 31 Mar 2020 31 Mar 2020 Group Charity Group Charlty Trade Debtors Prepayments & Accrued Income Amount due from subsidiary 67.201 162,849 67,201 162,849 4,780 702,580 155,103 702,580 155,103 181.312 230,050 234,830 857,683 1,038.995 All amounts shown within debtors fall due for payment within one year. 14. Crodltors: Amounts Falllng Du• wlthln Ono Y•ar 31 Mar 2021 31 Mar 2021 31 Mar 2020 31 Mar 2020 Group ChArfty Group Charity Trade Creditors Accruals Deferred income Other taxes & social security 30.033 555.697 53.845 30.011 30.033 555.697 53.845 30.011 78,460 220,627 21,837 125,114 78,460 220,627 21,837 125,114 669.586 669.586 446,038 446,038 Deferred income at 31 March 2021 includes: £32.50012020: £7,804) for deferred course fees bllled durfng 2020-21. but Involced In advance.. deposlts for futu evenls of £17,936 (2020.. £10,624) and other charges billed in advan of £3,409 {20120.' £3.409). Deferred incom8- Group & Charty 2020-21 2019-20 8alanc8 at 1 April Amount released Amount deferred 21,837 (21,8371 53,845 50.464 {50,464) 21,837 Ba18nce 8t 31 March 53,845 21,837 Credltors: Amounts Falllng Due after more than One Yoar 31 Mar 2021 31 Mar 2021 31 Mar 2020 31 Mar 2020 Group Ch•rty Group Charlty Flnan(t lease credttor 122,083 122,083 122,083 122,083 122.083 122.083 122.083 122,083 -24-
ashornehill 14. Creditors: Amounts Falllng Duo withln Ono Y•ar {conllnued) Financg lease Obligations under a finance lease are secured by the related assets arKI bear finance ¢harges at a rate of 154.8% per annum (201 20. 154.8°A per annum). 2020-21 2019.20 The total future minimum lease payments a payable: Less than one year Behveen one and fve years After flve years 189.000 756,000 7,749.000 189.000 756,000 7.938,000 8.694.000 8,883,000 Less: FLrture finance charges {8.571,917) (8,760.917) 122,083 122,083 Finance lease payments r9present rentsls payable by the College for buildings. The le88e does not include purchase options at the end of the lease period. and assets must only be used in furtherance of the Charity's objects. Thè ase expires on 28th September 2067. The Companys oblig8tions under finance 18as8s are secured by the lessor's charge over the leased a88ets. The net book value of $8cured assets is disclosed In Mte 11. 15. Flnancl•S Instruments 31 M•r 2021 31 Mar 2021 31 Mar 2020 31 Mar 2020 Group Chavfty Group Charfty Carrying amount of financial assets measured at amortlsed $t 67.201 71,981 711,055 892,367 Carrying arnount of financial Ilaly'litles Measured at amorb8ed cost (707.814) (707,814) {421.169) {421.169} 16. Analy818 of N•t Assets Betw•en Funds Group Gen•ral Funds Bulldlng D•velopm•nl Roslrlcted Roserve Fund Capltal Fund Total Funds Fixed Assets & Investments Current Assets Currenl Liabilities Long-teTm Liabilities 4.814,150 712.132 1.300.000 (669.586) {122,083) 129,280 4,943.430 2.174,082 (669,586) (122,083) 161,950 At 31 March 2021 4,734,613 1,300.000 161.950 129,280 6,325,843 -25-
ashornehill Company Goneral Funds Bulldlng Dovolopment Restrfcted Reserve Fund Capltal Fund Total Funds Fixe(l Assets & Investments Current Assets Current Liabilrlies Long-temi Liabilltl8S 4.814.152 716.712 1.300.oIXI {669,586) {122,083) 129,280 4.943,432 2,178.662 1669.5861 1122.083) 161.950 At 31 March 2021 4,739,195 1,300.000 161.950 129.280 6,330,425 17. Mov•m•nts In Funds Group Goneral Funds Bulldlng Dovolopmont Rostriclod Reserve Fund Capltal Fund Totsl Funds At 1 WI 2020 Income Exp8nditure 8.107.487 1.523.325 (2,896.1991 1.300.000 161.950 137,124 7,706,581 1,523,325 17,8441 (2.904.043) At 31 March 2021 4.734.613 1.3Crf),O(KI 161,950 129,280 6.325.843 Charlty Goneral Funds Bulldlng D•v•lopment R•strl¢t•d Rosorvo Fund Capltal Fund Total Fund8 At 1 April 2020 Income Expenditure 6,107,487 1,522,861 {2.891,153) 1,300,(MJ) 161,950 137.124 7.706,561 1.522.861 (7,8441 (2,898,997) At 31 March 2021 4,739,195 1,300.000 161.950 129,280 6,330,425 Building ReseNe Changes to the Building Reserve are approved by the Trustees: the resetves policy is allgned with prolected expenditure requirements. Development Fund The Development Fund, a designated fund established by the Trustees. was created to ensure that continuity was maintained by protec*ing resources for the development of new programmes and activities (training ¢apabilty}. The fvnd supplements the nomal development effort. which will continue to be funded from income, and use of the fund is monitored by the Trustees. In line with the 2020-21 Plan the development fund was maintained at £161,950. Restricted Capital Fund Fund for donations reNed from Jaguar Land Rover forthe purrM)se of capital investrnent.
ashornehill Creating8rnWthttllD people 18. Penslons The Charrty has a Group Personal pension scheme operated by Aviva (previously Friends Life). This pension vehicle has also been used to automatically enrol all employees of AHMC into a pension scheme from 1" July 2014 - this being the enrolment dale for AHMC as set- out by the Pensions Regulator. The total cost of employer's pension ¢ontributions for Collège èmployees durlng 2020-21 was £86.432 (20120.. £122,657). 19. Cornmltments under Operatlng Loaso• At 31 March 2021 the Charity had totsl future minimum lea8e payments under non- Care118te operating leases as folh)ws: 31 March 2021 Land Other 31 March 2020 Land CXh•r Payments within one year P8yments between two and five y8ar8 Payments in over fwe years 21,000 84,000 871,500 3.975 10.506 21.IX)O 84,000 892,500 9,449 2.868 976,500 14.481 997.500 12.317 The totsl amount charg8d to the statement of financial actlvltles In the year in re8PeCt of operating18ases was £34.572 (20120. £34.278). 20. Capltal Commltmonts At 31 March 2021 the Charity had capital commitments amounting to £nll contracted for but nol provided for In these financial statements131 March 2020: £nill. 21. Subsldlary Und•rtaklngs The Charity has one vtholly owned subsidkgry company. Ashorne Hill (Trading) Limited, which is gIstered in England and WaS {regist8red company number 5335543). The company arranges conferences and events as delegated by the Ch81ity, in accordance with an operdting licence h8ld by the subsidiary. An administration charge is made by the Charity to the subsidiary for the use of Colge resources in aLxommcMJating and managlng the events. This is disclosed in note 9. The MpanY gift alds all proffts to the Charity arKI a summary of the financlal results Is shown overteaf. -27-
ashornehill Income and Expenditurn Account 20221 201fv20 Tumover Operating costs including administration charge 201.527 (24,713) 15.lJ46) Operating (Loss) I Profit {4,582) 176,814 (Loss} I Profft for the year Glft Ald donation to parent undertaking (4.582) 176.814 (176,814) Retained in subskdiary (4.582) Balanc• Sh••t 31 Mar 2021 31 Mar 2020 Current assèts Current lialylitieg 200 {4.780) 181,314 (181,312) Net {liabllltles) l assets (4,580) Called up 8harn captsl Profft and loss aoUnt (4.582) Reserves (4,580} -28-