ashornehill Creating growth through people Ashorne Hill Management College (A company limited by guarantee) Report and Financial Statements For the year ended 31 March 2022 Company numbor 00889791 Charity numb•r 528784
ashornehill Ashom• Hill IAanagement College (A company limited by guardntee) Report and Flnancial Statmients For tho year ondod 31 MarGh 2022 conts IndependentAthrs' Report Cor&)lid8ted Stskment of Finarthl Acti¥itss 12 Consolklated & Ch*ty Balanc6 Slwts 13 14 Notss forni1r part ofthe finanrjal statem 15
ashornehill Trustoes, Annual Report for the Year Ended 31 March 2022 Marth 2022. Referen¢ and Admlnlstrallve brfonnation Charfty Name: Ashome Hill Management Col ('AHMC°. Ihe Colege.) Charity registration numtw. 528784 Company reglstration numb8r. 00889791 Reglstered offi and Operational address Ashorne Hill Leamingtoft Spa Warwickshire CV33 gow struclure and Gov•manca The Colleg8 ts registered as a company limlted by guarantee and is govemed by hs memordndum and arttdes of as$ociation. It 1$ registered as a charity with the Charity Commission. As defined by the College's memorandum & acleS of association. the members of the College are the Trustees of AHMC 2nd such other persons or organisations as appointed by the Trustees. In Ihe event of being WOLrnd up. every member of the College undertakes to contribute £1.000 for the payment of the debts and liabilities of th8 College. The following persons acted as Twstees. Memtrffi and Key Management Personnel {8ee note 71) during the finanaal year. Mr D William5 {Chair) Mr J Hall Mr C Ell(ott Ms A Chick Mrs C Barber Mr AS Isherwood Mrs M Jennings Mr EJ West Mr J Carson Jaguar Land Rover Jaguar Land Rover {resigned 8th October 2021) Jaguar Land Rover (resigned 1P May 2021) Jaguar Land Rover Jaguar Land Rover Institute of Student Employers Venues of Excellence AHMC (appointed 2V June 2021) AHMC {resigned 9th Juty 2021) The following person acted as Company SeGretary during the finanGial year. Mr C Hodgson AHMC Relevant OrganisAti(¥ Audltors- Dalns Audit Ltd, 15 Colrnore Row, Binningham B3 2BH Bankers - Natwest Bank Plc, 59 The Parade. Leamington Spa CV32 4BA Sollcltors - Wright Hassall LLP, Otympus Avenue, Leamington Spa CV34 6BF
ashornehill creating through[pIe Alm and Objecllves Purpose of the Charlty The purpose of the College is set out Ni the objects contalned in the charitsble COMpS memorandum of asscriatK>n. In briel thi8 is the advancemerrt of edufxtion and le8ming and in PartUlar the raising of the stsndards of rnanagement and leerSh skllls across all sectors. Alm The aim ofthe College is to be a management aftd leadership training provKler of excellence by developlng solutions to fulfil customers, trawling requirements. Expertise ts offered in the fjelds of leadership, graduate dev8lopment and management development through a ct+mrAement of trainers and asswates. Charitable Actlvilles and Publie Benefit The Trustee8 have consklered this matter, in conjunction with the guidan contsinefj in the Charity Commlssion's weral guid8n¢e on publ benefft. and have ¢onduded that: 1. The aims of the organisaton continue to be charitable: 2. The benefrts are for the public, and a not unreasonaFAy restrjcted in any way and certainly not by ability tr) pay, and 3. There is no detriment or hami arrsir¢g from the awns or activIts. In accordance with the aim, the College rxovides management trdining acros$ all business sectors. The training. whilst focussed at management level, Is avallable through dedicated company programmes. Enhancing management stulls claarty beneffts tx)ih the individual and company wrth an added positive impact on the British erxjnomy. This provides personal development and. through work related assignments and feedback to line managers and HR Directors. organisational developmerrt is embedded post delNery. Delegates benefft from leaming wthin a dNerse communty and AHMC promotes diver3ty bn training courses to share and leam from a wide range of experfences. Trdining is also provided through the Conference Centre falItieS,. and this is a viabfe service provlsion in tts own righL The facilities are booked at pl7 which are comparable with 0th8T similar cerrtres and are aval10b for public and charitable use. The reserves of the charity are Invasted in improving the Grade 2. listed premises and the faclltties available wth the ofyecta of delivering an enhanced training environment to generate future training revenues. The public. in the gulse of training and cOnfer parbcipants as well as visttors. continues to enjoy the facilitles on offer. As a thariiy the genoral public have the assurance that all the income of the College must b8 applied for eduG*ional purposes. As an educational charity AHMC enjoys tax exemption ¢)n educational activitles 2nd inveslment income and gains as these are applied to the tharitable aims. As a charity the College is also ent to 8n 80Yo reduclion on business rates. The financigl benefjts received from these tax exemptions are all applied for educational purpose5.
ashornehill Environmontal and Safety Re8ponslblllti•s In addition to the Charitable Activities. the College maintains health and safety as a top priority by investing significantty in both a safety management System aThJ Ihe trainFng and development of staff. A Health & Safety Officer is in place lo ensure a year on year improvement in cultural behaviour and attitude to working safely. A committee of employeeg hold regular meetings to discuss H&S issues. Planned audlts of the site, its facllitres 8nd activittes. are undertaken with a reFQrt to the Business Management Team. to ensure ary naSSary aclion is taken. The College continues to develop its environmental wli¢y. Waste managemerrt has t improved dramaticalty with much of the waste being recycled," the obiecfve being to reduce the carbon footprint. Agreements Current in place cover the recycling of paper, cardboard, printer cartridges. glass, electric Ilght bulbs and electrical hathare. Manayment The Board of Trustees In order to match best practiGe guidance on good governance and to ensure all Tnjstees are active and fully involved in the running of the College, the number of Trustees is limited to 12. The composition of the Board of Trustees 18 designed to provide a mix of commercial and eduGational expertise to ensure that the charitable objects of the organisation are achieved. All Trustees gtve of their time freely and no remuneration 1$ paKI for their servws as a Trustee. The Twstees meet at 18ast tsmce a year, receNtng reports from a Comm8rcial and Strategy Commrtte8 and a Finano and Audit Committee. As the Trustees of the College, the Board is composed of not more than six Tn nominated and appointed by Jaguar Land Rover Limited. Six addttional Trustees are appointed by reason of their academic standing or ¢ommercial experien¢e. Trustso InduGtion and Tralnlng Current Trutslees identtty suitable candrdates who are invited to serve as Trustees. Potential candidates are appointed with a view to their professional Mpetence and expeTFence across a variety of seetor5 and across trte training and COrfferen industrles. New Trustees are offered 8 presentation al)out the history of the College. its alm$ and objectives. They are also provided wth copies of the memorandum an¢J articles of association, iatest accounts, recent minutes and suitable Charity Commission guidan. On going training is a150 pmided to ensure trustees are utFto4ate wlth regard to their duties as ttU8tees. This training indudes, but is not limited to, updal8S With regard: the College's purpose and tenefft to the public: the College's rules,. whavs best for the College and who It helps, and; the strateg. financial and operational risks to the College. Sub Commlttees The Finance and Audit Committ09 meets le a year. Ihe maln duties of whlch are: To approve th8 annual accounts aThl trustees report for submission to the Trustees Énd members.
ashornehill To ¢2)nsider issues raised by the auditor. To monitor progress against financial tsrgets in the annual pn. Ensure the integrity offinanGial systems. Th8 composition of the Fin8nrE & Audit Commlttee is C Bathr and J West with C Hodgson in attendance. The Commerclal and Strategy Commltteé also meets tsvice a year. Thg main duties of the Committee are: To review the wogress made in achiaviro th8 Tru8tee5' strategy. To consider business development adtvlty. the College's operdting environment and trends in the customer base. Consider how the obiectrves may be achieved in future yeafs. The o)mr)sltton of the Commercl21 and Strategy Committee is J W&st, A chk. C Barber. M Jennings and S Isherwood. Key hlanagement Porsonnel and Business IAanagemenl T•am The TrleeS delegate cky-tcHlay control of the College to the Managing Dlrector. J Wes( who 18 noted, alongside the Trustees. as the Key Management Personnel. Trustees re1ve no remuneration in respect oftheir duties as Trustees. The Man8ging Director is a seconded employee of Jaguar Land Rover. Saiary, pension and national insurance contributions for the Managing Director are govemed and settled by Jaguar Land Rover. The Man8ging Director is fomwlty thised by the auslness Management Team {BMT). The team consists of professional manager5 of the training. ¢onferenc. support and finance functions and meets fomially each month to review perfortYonc8, fure F4ans, prospects and resources. mu1li4iscipllnary tsams, usually le¢J by BMT members, ar8 apwlnted to progress specifi¢ objectives approved by the Trustees. Related Partios and DoPgnd•nGy The College rs govemed by Trustees (who also act as Members of the College) apFoinled by Jaguar Land Rover Limited whiGh is part of the Tata Group of compantes. The College has no material dependency upon free seNices or other intangitAe inGome. A trading subsi(iiary. Ashome Hill {Trading} Limited. has been established to trdnsad non- charitable business and glft aid proffts back to the College. Strategic Report Risk Manag•mont A Risk Register of th8 major risks to vthich the College is exposed is in place and is fomialty revWed and amerKled annually. Systems and procedures are in place to mWtgate risks 8nd the progress agalnst actions reviewed quarterty.
ashornehill CraatiDggrowththrough people The principal risks to the College have been identified as: Governance. wilh respect to Irustee confiicts of interest; Operational. in teryns of competition and fire. and. Fln8nciaF. being the risk of oVer4lepe1eG8 on single ir¢ome sources. These rfsks are managed through Trustees fvlty dedaring conflicts of interest on an annu81 basis. management analysis and benchmarking of CCnlItarS. annual reviews of fire protection systems, controls and processes, and 8 strategi¢ plan to dlversify the College Gu5tomer base. In addition. the impact on the College due to regulatory changes constantly revtewEd both intemally and by extemal specialists. Intemal rrtro1 risks are also minimised by the implementation of ProdUreS for aLrthorfsation of all transactions and projects and the pollcles of the Qualty Management System. Procedures are in place to ensure MPlIan wllh regulations. These Prore$ and policies are perical revi8wed to ensure that Ihey continue to meet requirements. Responso to Need Most of the training provision is developed * the Specif request of the client. The tralning provided covers all levels of management from team leaders and new grdduates to mkldle and senior managem&nt. Close liaison wtth ¢lients along with a welkmanaged feedback system is in place and is used to gaug8 sath8faction of the deliveryl(x)ntent of training and the leaming environment. Al feedbad( is channelled into regular reviews and actioned through the knowledge management and the facilities databases. All accepted changes then for the basis for firture tralning programmes, seNlce Ffovision and facility enhancements. Fundlng of Actlvlties Artivittes are fvnded by the charges made tr) clients for the provlsion of tr8inlng. )nferencing fa¢ililies and assoated services. AddFtK)nal income is eamed from interest on bank deposits, rents from properties not currenty used for training pury)ose8 and from recharge5 for telephone and other services provided for delegates. During the period ending 31 March 2022, Income Wds generated from the following sources: 2021-22 £000 2,545 98 128 27 2020-21 £000 675 Fees eamed Trdding Subsldlary (Grft Nid} Grant Rents and Sundry Income Investment Income Other Income 91% 4Y. 4° 1Y. <1% <1% 809 32 <19 <1% Totsl Income 2,798 £1,523 Fund Raising The College does not engage in fund raising a(#ivities.
ashornehill Financial Revlew As the COVID-19 pandemtc has evolved during 2020 and into 2021, the impact on the College has been signiknnl. Onsite operntions re-stsrted in Aprfl 2021, when the College wa5 gble to reopen. More significant levels of demand were not expertenced until septeMr 2021. which were then further hindered due to the impact of the Omicron variant from December 2021 to February 2022. vsrtual and digital training provision was ongoing throughout period. The College has also benefitted from the Govemment Business Rates Reef provisv)n and Coronavirns Job Retention S¢heme. In 2021-22 the College had a cash oirtlkjw from 0ratIng activities of £54.200 {2020-21: £91.972) from total income of £2,798,2761202¢>21.' £1,523,325}. After capital expendtture of £261,673 the College had an ouffiow of cash of £315.693 (2020-21.. £132,773) and decrease in fvnds of £580,737 {2020-21'. £1.380,7181. This h88 deixeased total funds to £5.745.106 at 31 March 2022 {£6.325.843 at 31 March 2021). Cash reserveg have been preserved well gtven the significant operating defi¢it caused by the operational impact of the Covi(J-19 pand8mi¢. Cash balances at 31 March 2022 were £1,620.577 {31 March 2021.. £1,936,270). Assets The College's main assets include the leasehold land and buildings at Ashome Hill and the fittings and equipment necessary to achEve the proviston of eduotion and training. There have been no revaluations of fixed assets during the year and the Trustees are satisfied that the asset Values are reasonably refiected in the b8lanGe sheet and that the rates of depreciation used are appropriate to reflect the diminution in value during the year. Roserv•s The Group's re8eNes total £5.745,106 of which £4,785.891 ts held as fixed assets (of which £125.535 is held as restricted erVes). After deduction of d8signated funds of £1,461,950, this leaves the bafanc8 of free reserves as £nil. As a resldential training Gollege wtthin a Grade Il. listed bu11ng AHMC Incurs a hwJh level of fixed costs In maintaining the fabrlc and condition of the facilty. In the event of signtficanlly 8dverse business conditions. the Trustees consider rf( prudent to hold mlnimum free reserves of £600.000, being approxim81ely three months of overhead costs. Any frEe reserves hekl in excess of this minimum are retsined to support th8 charity in times of finanual uncertainty. The Trustees confim that the Charity will work to rebuikj free reserves. and revthv fvnds that have en designated, in order to m&8t thg minimum free reserves target of£600,000. Subsldlary Company In January 2005 a tradlE¥J subsldiary, Ashome Hill {rding) Limited. was established to trdnsa(A rKm-charitable business and grft ald profris back The trathng results of the subsidhqry have been consolidated in the overall resutt of the Charity.
ashornehill Durtng the year, the subs[diarS tumover amounted to £97,618 1202¢>21'. £464). After adminlstration charges and other Costs, a surplus of £84,859 (2021>21: defiGtt of £4,582) was recorded by the SUdIary. An amount of £80.277 (202Ck21.. £nil) has been relumed to Charty under Gift Aid arrangements in JU 2022. Invostmonl Powers and Authorlties Under the Memorandum of ASsrrian the Co118ge has the power to knvest sums not immediately required for its purposes in SLkth investrments. securities or property as may b8 thought fit to fulfil tts statèd objectives, subject to any provisions or constraints impjsed by Plans for Fulure Pèriods The College has weathered the of uncertainty due to the global COMD-19 pandemic. Whilst business levels were severety impacted and staffing levels reduced, all effort is now focussed on rebuilding QFtrations and business development to brtng the College back to pre-COVID-19 operating levels. Trtsstoos, R•sponslbllltsos for the Financlal Stataments The Trustees (who are al80 directors of the charity for the purposes of Company law) are responsible for preparing the Trustees, Report and the ffnanci81 statements in accordanc8 with applicable law and Untted Kingdom Accounting Standards {United Kingdom Generalty Aepted Accounting Practice). Company law requires the Tmstees to ppare financial statements for each finandal year which give a true and fair view of the state of affairs of the charttable company and the group and of the incoming resources and applicat(on of resourGes. including the Income and expenditure. of the charitable group for that period. In preparing these financial slatements. the Trustees are required to: seiect suitabje accounting poltcies and then appty them Gonststenty, observe the methods and principles In the Charities SORP; make judgments and egtimales that are r8a8onable and prudent; stale wh8ther applThble UK Acetjunting Slandards have been folkjwed, subject to any materi81 departures disclosed and explained in the financial statements. and prep8re the financial statements on the going concem basis untess it Is Inappropriate to presume that the ¢haritabfe company will conunue in business. The Trust8es are resrKJnsibte for keeping prOr accounting records that disclose wyth reasonable accurdcy at any time the financial positson of the charitable company and enable them to ensure that the financial statements mplY with the Companles Act 2006 and also responsible for ensuring that the assets are properly appld in accordan with Charity Law. They are also responsible fDr safeguarding the assets of the charitabl8 company and the group and hence for takkng reasonabiÈ steps for the prevention and detection of fra(3 and other irregularibes.
ashornehill 10. So far as e&h Tnthe15 awe. there is no relev of%%thK lh8 Clwws auditors are unawwe. Ea¢h Trustee has taken al the steF6 as makhYJ erN¥dS of (thr Tftthes aTrJ U auditors and any cther steps rwired ty the Tntst$ duty to exercise (xe. 8kNI arKI diligen) that he ought to have taken in his duty as a Tnth in order to make Imn aware ofany reknnt audlt lif[On and to ebIsh thatlhe are awwe of that informatbj 11. Audilor A resolutlon to reappoint Dains Audlt Ltd as athr for the be posj at tha forth¢omirrfJ annual g8wat rneatkng. Approved by the B08rd of Trustees and siJn&Y on ils l*half ty. . Trustee D. wIUJAj Date il LETrg(L2022 Trustee 4.5. 1H Datell c6r>fL2022
ashornehill
CreatinggrNth thmughEeopIe
IndepndpntAudltors' R¢parttothp Mgmljen of A$horne Hm Mknaggmebrt Colkge
Oplnlon
We have the financial 8tstemenL8 of A5home Ffii Managwnent College [th8'pat chaTitabl8 QXXnpY}
8fMI its subsbyiary lthe'group'l for ts year eTrJed 31 Marth 2022, etfflth tho ConsolKlatsd Staternenl of
ActivitE85, the COnsdklat & Charity Bakgnce Shts, lh8 ConsolHYated Statnt of Cash H(Y• and
Ihe related notgs. Including a sumrnw of synthcant ¥o)unting poJic¥es. The finanapj rerling framwork that
has been 8pplied in their prewation is applKable law and UrsrtwJ KwvJdom Accountiry Stsndard4 induding
FiTr8ncA Reporting Stsndard 102 The Finawdal Reports"rpJ StsrKld applice in the UK an¢ Republ of
Irdarnl, (Unrted lfjngdom G8neraltyAiYtrted Accounting PW11.
In our0pinn Ihefinancial stMt$..
give a tru8 arY far view of the State of the gro3 ancs the rent tharitable COTTrpaFryS arrars as at 31
Marth 2Q2 and of group's lyarnirvj rvsources and spl¢011£ of resources. Indudfftg rts income 8r>J
8xfft)diture for the ye8rth8n ended..
havts been propedy prepared in accordan unit Kingdom Generally Accepte
ashornehill the Tntstse8' Report has prgpared In &cordarKe vthh appkrA)18 JW Matteys on whleh we m rewlrnl to Tewt by BXCOpIoTr In th6 IpJht rf the knoWl)e arld understsnding of the the parwrt thtab compftfiy 8nd thdr 8nwrOnMt oM&ne(l in the LY)urse of the aLxfrL ha Tr)t material MBJtsents in lh8 Tntstees. Report. We hav8 to ¥ewrt kn SpeCt oftheIdknng mattws In to the Companl8sAd2C#J6 and the Chariles AL2011 requires us to rewjrt to you rf. In our opinyjn." adequate airountiThJ red$ hav8 not bew kept or r8m$ adequate for our wdit havg f reLwv80 from branch85 not vL%ited by us.. or th8 finan04 staiemonts a not in agreementwilh Ihe a£t•Jra records aNJ reknm5.' or rtaiTr dlsdosures ofASte,S rernynerabon sp8ufi8d by Iare not rnade.. or we h8ve not received 1 th8 infonnation and explanatWe require forouraud¢ or the were nol entitled to prepare th8 financial statements in a(WrCe Iwth the •nall tpanI&S regim8 and take afvanl¥Je of the small (ornpani85' exemptions in prepariro the TAtstees' Re and from the ru[TSMent to prepaT88 Strategie Rernrt. Re8pon$lbFlil%s oltYusl•85 expla mortr fijlty in Ihe Tru5tees' ReSPIale$ Statement setout on pwJe 7. th8 Tnthees {who are e the diredors of the group and the parent ch8Tltsbl8 ¢x)mpary for Ihe purposes of ¢ornpany law) are responslb for the prBpar8tvn of the fIncIal ststements and for teir¥ satisfied that they gNe a true and falr view. and for such intema (Xbntrol as the Trustees determtTre is rCS$•ry to enabk8 the pratiDn of financ stain that arefree frorn material mi5StaternenL Ether due to fraud orernr. In preparing th8 fina statem8nts, tt Trustee5 tre re5ponse for assessirwJ the up,8 aNJ the parent Laritable companys 8bftty to conUnu8 38 a golrs wrKem, dljdoyng, as applicab, mattets reknterl to go• cOnrM and using the g(Fing conrm basi% of &y)xunOng unss the Tnjstees eEther intend lo liquidate the gro or par8nttharitsbkn tyJmp8ry orto (t8se cperalions. or have nrj wlstic atemative but to do 50. Auditor5. respoltsri1es forth• audli of the fthan¢l•l slatemonts Our obltiveS are to obtan reasonable aswr8n¢e whethw the finaTrdal ststements as È whde 8re Iree fr malerfal mi5Stai8menL whelher (Sue to frajd or error. ond to issue 8p7 Audittirs, Rewjrt that indudes our 14on. Reasonable assum( 15 a high level of assyrance, but is rK)t a gUtee that an audit (4nduc#ed acdance with ISAS IUKI will ahvays deteLt a mats[ rni55tat8ment Wh it exists. Mlsstaternent8 can ayrse from fra or wor and are (5018d mat181 rf, indUallY or in the wregate. ttw (x)uld reasonab be expelled to Inffluen trle 0rnr¢ ofusets taken on the basis ofthese finawal statements. Irreguribes. fraud. are instancw of ronA)TnpJiarK8 and regulations. We design pNnedufe8 in lin8 r95ponsibiUties. tyjuined atThe, to delect material mi85tstements in resp&t of irregularities. Indudlng fraud. The extsnt to vthich our proureS ar8 capable of eteLn9 irwulathes. indudbig fraud 18 d8taiLgd bethr. Our apprDath to ffidentifying and asse5sirsJ the SkS of matsril mbstatem8nt in respax of Yr8guL8th& udir fraud an¢J nOrKmplIanCwth kn and regUlatn$, vrd5 a5 folkJws: the statutory au<Jitor ensurtd that the agement team GoIleth8 had the appropriate petence, capabiliti88 and Skil to Identify or recogni8e non-C0trplrdr with applicab18 laws arn ulatKms.' we ioentrfied Ihe law5 arKI rWUlat5 sOicabte to the grtyjp and Ihe p8Mt d)aritabl8 cJJmroiy through diseussK)n5 with Trustee5 other Managnts and from w commerrAd kTredge and exp8 of the thartty s. ¥4e tsus8d on spetsTrc ar¥1 regulalions whKh we consldwed tnay have a rtrt mat8rfal efft on the finanfAal slatements or Ihe operations of the group the pat charfitable Lxrnpany, induding tha finanrAal repoitiryJ 1gJis]aiNm, Companies Act 21a)6. tsX8ti legid800, ants'_briW. eThph)yrn8rt and w1ronrnen and heatth and safety legi812., we assessa the ext8nt ol complranLE with Ihg lawE 8nd rUlet1)ft$ hlenbfied the through makfftg enquiries of management al in5pedng Ial corre5[Mden¢< and hlenbfied and rvdulats)ns were communicated wthin the autht t•gm regulaty and the team remaned dertto instarKes of Mn-romkSianc8 througlut the audit. -10
ashornehill ctirgroWththroUghwop1e W8 8ssesseLf the Sus¢tibIlitY of the grtyJp'$ thB parent olaritable c¢mpanrfs StatMents to material mr8StatÈmenL Includ obt8iniro an Uners18$S of howfraud rnlght cctyJr, by.. rn3ng 8nquiries of rn8nawent 8$ to %theT8 they wnsKJ8r8d there vrns susc8ptibit ty to fwd. thdr knowledge Of1, su5pectsd and alleged fraud.. and )n5idering the intemal ¢>)ntrols in plart to mthgate risks of fraud and TH)rmlanCe and To a(1dr the risk offrajd through management bias and oTrHride of(ontroLs. E.. perf1 analytical procedures to thntfy any unu or uney4)th rdatlonshos." 1&8ta iDumal entrfes to identfy unugJal tra[a(11nS'. 85seE8&J whelher assumptions mae in de4erThlning the acn0d estimate8 were indicative of [ttIal bia8,' and investigatd rationa8 bthind sNunfficant er Ur51 trS¢tiOnS. In res[ to Ihe rEk of Iryegularities and non-(t)mplianc8 vAth laws and rgJulalons. w8 d&siqned prrt8 whth induded, but were not limited to.. 8greeing finanaal st8tement disdosuffjs to undetylng supwriing drMuJmw)tstion". dlrg minutes of meetlngs of those ¢harsed with s)vemarKE'. enquiklng of Thagement as In actud and tenti litigati)n and daims,. anLI rewewing TrespOndence HMRC, levant regulatOT8 a1 the gro5 ar1 the pamrt dwtalg npanys Wl 8dvtm. aerau58 of the Inhorent Ilrnltalk>ns of an audlt, Uwe is a that we will not detect all irr8gularibes, induding those kadirvJ to 8 materf81 mKtateTrnt the fin8Trraal statements or nOn)Mlnce wlth wul8bon. Thts in(¥ease5 the more that complianL¥ VAth a law or regulaty'on Is r[L)v8d fmm the events and trwwti refie6 in th8 In8181 statemgnts, as we wll be less to b8come are of Instanr of non-wmplianL. The Ti5k is 8fso greater regarding iryularities due to fraud ralher than 8fTor, a8 fraud ifivofves intenfjonal concealment, forgery, collusth, ornis8lon or misr8pres8nlation. A ftjrther Ipon of our r85por6lblUlies tr the 8LwJit of th8 fin8n(aa StaterTrts Is the FID1 Reporbrg Counc41's wEbsite .' .frcOr9.ukJauditc45responsItsJl1l18s. This deserfptiDn fomis part of our Audltors, ReporL Oth•r rnatters The ftnandal staternents of the group parent tharitthe Gornpany for the year enthd 31 Mwd) 2021 were audItj by RSM UK Audit LLPwho expressed an un1thed opinh)n on these fin8ndai staterrEnts on 15 Othb6r 2021. Us• ofour rewt Thls re[rt Is rn8de sow to growJ'$ thÈ paTrt chari(8ble companys members, as a bth. In 8c(Thd8nce with Chapter 3 of Part 16 of the C(MnpanT£s Aci 2006. Our auifrt work has been Emdètsken so that we migm state to the grgups and tlp part charitable wnpany's rnembeks tho matters we are wuired fr) sta¢e to them in an Audto. Rerth and for no other purpose. To Ihe fiJlk51 extent pemiftbJ by Iww, we do not accept OT assume resrx)n$kylty 10 8nyone other than the group and the pawt charti*le ctjmpany 8nd Ms member5. as a body, forour8utht Ork. for this report. orfor the oplnfons WÉ haveformed. Mark Gum¢y FCCA {Senior StaiutoryAudStorl for and on half0f DaTns Audlt Lknlt•d Chartered Acu)untants 8Irmirsh li QoeL
ashornehill th• InGMe&EApont¥bJMAcwJht) rthB 31ll•Jch2022 Ilel Grants 12&r129 Tokl Ineix 17W76 74S &375268 745 1576.992) 11740 la718> 74¥ T.563 t29 T¢181 hJTrJ8 tled ford at31 Alth 461W1 S7441(6 The stst•nwtoffinarKlal 8Cb¥hlES kndudes arn pand [eS In the yew. Al &¥peThlthJr8¢knfj¥efiDm contrnnthtlP&. -12
ashomehill Con50&dot•d &Chwtty Bokncè Sho•ts4t31 M£ zD21 Ashorno Hill IAaMgembtColkgo RÉgi5tered No. (Q8897Y1 Gw) 31 Mwch 2022 Group 31 Marth 31 March 31 k48rd) TargFI1 AE88ts 4,785,891 4,785,891 4,913,430 4,943.430 Shares ffrtdlngl Ltst Stocks 12 13 2,064 631,521 1,586,055 7.762 TJO,050 I,,270 7.Y62 234,830 1.936.070 Cash 8ib3r h8tsJ 597.W1 1,F20.577 1279,642 1279,640 I174.? 2.178,662 UabllUoB: iiiwnl¥ tyJtn9 • 14 11.19B,3441 16645881 1669,588) 1,Ce1.298 1,051.296 1,gM,496 1.S)9.076 LblI?. anounts falltng mort than 14 1122.wl I122.) 112lf31 1127,OJ31 Tolal Assts less Lbi411•s &745.1t 5,745,1 6.32S,Èd3 I,,425 Fundg Unreslricw Funds ReStsfjriwJ Fund5 17 17 s619.1 12&535 s,61971 125,5 6,163 129.280 6.201.1 12g280 Total 5,745,1 5.745.1(6 6.325,843 ,230.425 Apry0J& auth1rIs>Jtr tyth8 Bcrd rA Tnte6s*d on Its IbLIA A. s. IJ>1¢LviWD Trust•• Date li 0&Tr4tL -13-
ashornehill 51eotster&S No. oc798 Ygw 31 IAarch Yearto 31 2021 154,2rK)I 191,gT21 Netcash rJJMowprnvrfled ty oFergting 154,2fA)I 191,9721 pa[st0 8CqLrfre aets 1239 148A151 1281,6ni 1261.4931 I40,1) Chry In Cash andlwh 8qL¥valwts intho 1315.6931 1132.7731 Cash Ul¥loIa beginrdw of 1.9K270 2.9.1?43 Cash and h84¥thts atthèérKlofth8 1.62Q577 1.936,270 Yearto 31 Yearto 31 2021 Nèt pxpendkurE Interest a)I6 Cwe¢&Uc4) ¢hHr LossllProfftl on d5spD5al of nxed *syets Onu&a5ell DecFeas6 th slorks IlrKreasell Decrease In 15&).n71 11801 414,178 5.034 (Y.3) 1366,9511 52&758 11.380.718 11,2391 431.553 16,375 13,625 627.632 223,5S) 154.2WI 191.gr21 -14-
ashornehill Ashome Hill Management College Notes to the Financial Statements Year Endod 31 March 2022 Accounting Poli¢io5 The prfnclpal accounting poltcies are summarised below. The aixounting wllcles have en applled consistentiy throughout the year and in the precedlng year. (a) Basis of Acwunting The finaneial statements have been Prepared in a¢xord8nce vAth the Statement of Recommended Practice °Accounting and Reporting by Charities preparing their accounts in awrdance wlth the Financral Reporting Stsndard applicable in the UK and Republic of Ireland. (Charities SORP (FRS 102)) issued on 16 July 2014 and FRS 102 Yhe Flnancial Reporting Standard appltGable in the United Kingdom and Republic of Ireland. (°FRS 102? aTKI the requirements of ts Companles Act 2006 and UK GeneY811y Accepted Ac(xfyunting PractlcÈ as it applies from 1 JanLrary 2015. The financkl statemerrts are prepared in sterling. whth is the fijnctronal curre of the charriy. Monetary amount8 in these financÉal statements are rounded to the nearest £. Ashom8 Hill Management College meets the definition of 8 public benefrt enlty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise st8ted in the relevant accounting Oicy note(s). Golng Concom As the COVID-19 pandemic continues to evotve, stress testing of the Coll8ge's operations and ffinancial forecasts until 31 Mar¢h 2024 has been carrfed out. This stress testing has satisfied the Trustees that the co19 is abie to deal wtth the Imp2Gt of the p8ndemic. by means of a Mbination of mttsgation str8tegies and the utilisation. tl necessary. of its financial reseNes. On this bas18, the Trustees are happy that the Charity is a going concern for a period ol at least 12 months from the date of approval of these financial ststements. Consolldation The consolidated statement of financial activeS, balance sheet and statement of C8$hflows include the charity ar]d ils trading subsidiary. The nSOl1dati0n is prepared on a line-by-line basis. The trading subsidtary was established to transact non-charitable business and gtft aid profits back to the Charity. Refer to Notes 13 for amounts owed to the Charity by the Trading Subsidtary. Refer to Note 20 for the financtal summary of the tTrding subsidlary. A separate statement of finanGial activiues (SOFA) for the tharity Is not presented because it has taken advantage of the available exemption under Sectk)n 408 of the Companies Act 2006. The loss dealt within the financial statements of the parent company was £585.319 {202Ck21: £1.376.136). Income and Expfrniliture Account The Ststement of Financkal Activrf(ies on page 12 discloses the identical infonnation as that of the Income and Expendtture account and as such no Income and ExrKnditLtre aco)unt has ken prepared. -15
ashornehill Accounting Pollcles (continuedl Fund Accountlng Unrestrided are avaHable br use at th8 (fFuetkn of ts Ilwtees {referto Note 17). (O Income Incoff¢ induths in¢om8 from Tthing C(KuEes TrainvJ a1 Cryrfer faC1[leS exdtsding VAT. All IrMe is iThAuded kn the Statenwrt of F?81 8c(kryunting perN)d in that iome is Other trading a¢bVIt of £125.214 (20x21. £32.025) Renta and sty IrK4)me of £27,5 {2020-21: £31.561) a1 iTh>)me generated lry the Tnkng Subsidiary of£97.618 (202Ck21.' £464). (g) Expenditure Expenditure is n[S on an rnl basA% as a fjabmy Is trulred. It is artyed on an adual b3siB over (ztegorie5 consistent with the Chariws operaw¥J U8ing th8 folknvlj moll¥)ts. F draisi to gen8r8te inc4xne from the subsi<fMrfs tradll a(vths re Co depreoatton. Ch This comprtses those costs hVred by the in the dth8ry of ts thales arKI services. It incbjdes both Costs th can be alkKated dire( lo suth &#IvitS •xl Training Courses . ExpeTrJKure InjIred In the prerArathJn arwj • facHltl&s indudlng caterfrNJ. housekeeFthg. front of tM)use. *rJy. malntenance of bulldings. groulS aThJ equlpmert athnwiislTallon detsL -16-
ashornehill AGGountlng Pollcles (Gontlnued) Support costs include central fuNAions and govemance costs. Al costs are alk)cated beeen the expenditure categories of the SOFA on the baws deslgned to reflect the use of the resource. Costs relating to a partlcular activty are allocated di¢ty, Othe are apportioned on an approprkate basis e.g. floor area. per PIta or estimated usage as set out in Note 4. ttonal I The Group classffies certain onff charges or credtts that have a material impact on the Group's financial results as exceplonal items. These are disclosed separately to provide fvrther UndetandIng ofthe finan¢ial perfOnman of the Group. (h) Ftxed Assèts Fixed assets (excluding stocks and inve81ments) are stated at CQSt less a(thmulated depreciation and any impalmienl losses. Depreciation is provided at rates calculated to write off the cost or r&valued amounts of each asset In equal instalment$ over its expected usefvl frfe. Long Leasehold Ilfe. comprising structural improvements to buiklings. has been reas58ssed to be until 28th September 2067. being Ihe remainder of the lease {see note 1 (0)). The other effe1ve Iwes and rates of deprectabon are as follow5: iation P 3 -15 years 3-4ye8rs 4- 10years 3-4sEars Fixtures, ftttings, too18 & equipmen( lil car park TeEecommuniGations equipment Motor Vehicles Computer eqUIpftt The Charity does nol CSFXtalise assets (StIng less thars £250. Where there is some indication that the recoverable amourrt of a functional fixed asset is below its net book value an impainnent review would be ca¥Tted OUL where possible on indwidual assets. A flxed asset is recognised for leasing agreements that transfer to the Charity substantialty all the rlsks rewards in¢idental to owneTrhip Inan leases). The amount ¢xpitalised ig the fair value of the leased 8sset or. if lower. the present value of the minimum lease poyinents payable during the lease term, both detem)ined at inception of the lease. Stocks are Shown at the lower of cost and net realisable value. Thes8 include catering supplies and fuel oil. o? Investments The Snvestment held as fixed assets is the value of the shar88 held in the subsldiary, AshoTne Hi15 {Trading) Limited. This is included in the financial statements at cost. (k) Major hlalntènance Major repairs and renewals to the leasehokl propety are tharged to the statement of flnancial activrf(ies In the year in whKh the charg&g arise. -47
ashornehill ACnting PollGigs (ccntlnued) Pensions The College made contributions on behalf of employe85 into an Aviva personal pension scheme operated on a deffned contribution basls. Contributions to the Group's defined contribution PenSn scheme are Gharged to the slatement of finanal actsvtties in the year In which they become payable. (l) Leases (o Opetifig lease rentals are charged to tho statement of finanGial activtties on 8 str8ight-line basis over the lease te. H. Fi -the An asset and corresponding liability are recognised for leasing agreements that transfer to the Charity substantially all of the risk8 and rewards incidentsl to ownership (nance leases). The amount pItalISed ts the falr value of the leased asset or. rf lower, the present value of the minimum lease payments payable during the lease te. both detemined at inception of the lease. Lease payments arp treated as consisttng of capital and Interest elements. The Interest is charged to profft or foss so as to produ 8 constant periodic rate of interest on the remaining balance of the liabilty. Contingent rents are expensed as Incurred. Financial Instruments The Group only has finanaal assets and liabilities of a kind that qualify as basic financial instruments and are not considered to b8 of financial nature. Such financial instruments are initialty recwnised at transaction value and subsequenty measured at their sewement value. Deblors - Trade debtors and other debtors which are receivable within one year and vthich do not constitute 8 financing transaction are inrf(k8lly measured at the transaction pr8. Trade debtors and other debtors are subsequently measured at amortised cost, being the transaction prKe less any amounts settled and any impairment losses. C8sh at bank and in hand- Cash at bank and in hand indudes cash and mon$ on short term deposits at the bank. other short-tenn liquid investjnents with original maturities of three months or less. Creditors - Creditors and provisions are recognised where the group has a present obligation resulting from a past event that will probably resuit in the transfer of ftjnds to a third paty and the amount due to setde the obligation (an be measured or estimated reliabty. Creditors and provisions are noThalEy r6cogni8ed at thelr sethement amount after allowlng for any trade dIunts due. Employee bonofits The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entiuement is recognised in the period In which the employee's services are reIved. -18-
ashomehill Accountlng Pollcles (ntInued) Employe• bgnefits (contlnued) Termination benefits are re(a)gnised immedi8tety as an expense when the College is demonstrably committed to termlnate the employment of an employee or to provide termination benefts. (o) Critlcal ac¢ountlng estlmates and ar•as of judgement Estimates and judgements are continualty evaluated and are ba8ed on historical experience and other factors, induding expectatlons of future events that are bèlieved to be reasonable under th8 CIrM5taTrces. In categorising lease8 as finance leases or operating leases. management makes Judgements as to whether signffirant risks and rewards of ownershlp have transferr lo the Company as lessee, orthe lessee. Whe the Company is a lessor. Leg status of the charftablo Gomp Ashorne Hill Management College is a charitable company and L8 al$0 registered as a charfy at Ihe Charity Commission In England and Wales. The charitable company is limited by guarantee and as such has no issued share capit81. The liabilty of its members in the event of the company being wound up is limited to £1,000. The registered offi* arKI prln¢ipal ptace of business 1$ Ashorne Hill, Leamington Spa. Warwickshire CV33 9QW. The group consists of Ashome Hill Management College and its one subsidrdry. Ashome Hill (Trading) Ltd. The group's principal objective rs the advancement of education and leaming, in particutar the raising of the standards of marwjement and leader¥hip skills, acxjss all sectors. (p) Iq) Govornmont grants The COronavin Job Retentk>n Scheme Income Is accounted for under the auxuals model as pemiitted by FRS 102. Grarrts of a revenue nature are recognised in the consolidated statement of financkl activities in the same period as the related expendlture. Charitable Actlvitles Unr95tricl8d 2021-22 Total £ 2020-21 Totsl £ Training Courses Training & Conference Facilttses 776.824 1.768,029 776,824 1.768,029 566,465 108.484 Total Income from Charftable kavitses 2,544,853 2.544.853 674,949 Governmonl grants UnrestriGted 2021-22 Total £ 2020-21 Total £ Coronavlrus Job Retention Scheme 128.029 128.029 808.737 Totsl Income from Don8tions 128,029 128,029 808.737 -19-
ashornehill Exwidltur• 3478 ?478 S1.136 1.15 511 &f48 154810 T50 314708 1Z8A&I 7T.110 11795 255.n9 41,418 rJ1 1745 414.178 10.417 1N875 20t.w6 .479 143 14(512 161,£ 171Mr2 TIMe 120 1&174 711897 745 3.th5979 17IU43 othor w*nditur• 2021-22 20221 Finance lease interest payable 288,1]00 189,000 Not Income for the Year This is stated after charglng: 2021-22 20221 Depreciation on owned assets Depreciation on leased assets Audttors. remuneration - Audrt seNices 410.433 3.745 12.000 1,250 423,709 14,930 1,310 Charges for alIt $ervvx of £12.000 are split as £9.000 for the Charity and £3,000 for Ashome Hlll (Trading) Ltd. Other services provided by Dains Audit Limited r8late to Corporation Tax compliance services forAshome Hill {Tding} Ltd. For operating leases refer to N¢)te 19.
ashornehill CreatinggrowththtKapeop1e Staff Costs and Numbers The tot81 staff costs of th8 Group comprised: Y•ar gnd•d 31 March 2022 Year end•d 31 March 2021 Salarie8 and wage8 { Employerf$ Nl costs Pension costs 1.441.621 128.211 91.083 1.476.944 118,359 86.432 1.660,915 1,681.735 Employees whose emolum8nts exceeded the annual rate of £60,000 during the period vRre as follows: Year ènded 31 March 2022 Number Year d*d 31 March 2021 Number £60,001 to £70.000 £70,001 to £80,000 Pensbn for th88e employees. induded in the above rUreS. in the period were £16.446 {2020-21.' £15.699). The average numkr of persons employed during the year Vfd6: Year end•d 31 March 2022 Number Y•¥rended 31 March 2021 Number Training Consultants Other fvll-time employees other part-time employees 42 15 49 15 60 66 The trading subsidiary employs no ¥tsff. Koy management remunèration The key management personnel of the parerrt tharitable company compri8e the Trustees and Mr EJ West, the Managing Director {and his pred8Ssor. Mr J Car50n. until 9th July 2021), belng those resp)rTSib for the day-to-day wnning of the charity. The total employee beneffts for key management onnel of the charttable company and group was £nil {2020-21: £nil)- This amount is normally a recharge from Jaguar Land Rover of saLqry. pension and national insurance ntributionS for the Managing Director. This recharge has teen waived by Jaguar Land Rover in the current and comparative periods. Reimbursement of Chaiity expenses totalling £nil were made to fvAr J Carson and Mr EJ West in the year (202Ck21: £nil). The ofvr Trustees recelved no remuner81ion in respect of their duties as Trustees. -21
ashornehill Tw5tee Remunerntion The ChaTity paid no remuneration to Trustees in re8P8Ct of their dutles as Trustees during year. No retirement benefrts are accnjing to th8 Trustees under 8 pension seheme respect of qualifying service. DuTing the period £nil (2021>21 - £nil) charity exp8nses were reimbursed to any TNste8. Related Party Transactlons Several of Ihe ChariVs Trustees are aEso dlrtors or sentor managers of Jaguar Land Rover Ltd, Tata Steel Europe Ltd {both part of the Tata group of companies) or Venues of Excellence. DuTing the year the followng buslness was tr8nsaGted with those entities and Ashome Hill (Tradlng) (company registration No.. 05335543): 2021-22 Transacilons 20204021 31 March TransakIn5 2022 B¥lanco a 31 March 2021 Charges to Ashome Hill (Trading) for seNl¢es 9,758 48 Amounts owe(I by Ashome Hill (Tr8dingl I Charges to Jaguar Land Rover for courses and services Charges to other Tata Group companies for ourses and servi9 seICes suP4ed by Jaguar Land Rover seNt supplied by Venues of Excellence 34,520 4,780 459. 176.144 6,259 6.631 7.957 16,810 320,000 210.000 7,925 4,671 10. TatIOn As a charity AHMC is exempt from tax on income and gains falling wthin se¢lKsn 505 of the Taxes Act 1988 or s256 of the Taxatlon of Chargeable Gains Act 1992 to the extent th* these are applled to its chargeable objects. No income tsx charges have arisen In the Charity. The College is regi8tered for VAT.
ashornehill 11. Tanglble Flxed Assets Group and Charfty At 1 N4Yll 2021 11,570.489 6.603,735 4.917.152 49.602 Add[ticS 261.673 9.330 252,343 Disposals 1173.9121 (173.9121 Al 31 March 2022 11,658,2> .613,065 4.995.583 49,602 Accumulated DlatIon At 1 Aprll 2021 6.627,059 2.573,733 4,020.399 32.927 Charge for year 414,178 115,753 294,328 4.097 Disposals {188.878) {168,878) At 31 Mah 2tr22 6.872.359 2,689.486 4.145,849 37.024 N8t Book Val At 31 March 2022 At 31 March 2021 67 The not book of leaswl assets are £56203 (2021.. £57,438>. 12. Group 4nd Charity 31 March 2022 31 March 2021 Fuel Catering Supplies 47,107 14,957 6,472 1,290 62.064 7.762 -23-
ashornehill 13. 31 Mar 2022 31 Mar 2022 31 Mar 2021 31 Mar 2021 Group Charlty Group Charity Trade Debto Prepayments & A(%j Iorne Amount due from subsldlary 504,572 92.429 504.572 92,429 34.520 67,201 162.849 67,201 162,849 4,780 597,001 631.521 230.050 234.830 l amounts shown wthin debtors fall due for payment within one year. 14. Cr•dltor5: Amounts Falllng Du• wlthln OTr0 Year 31 Ilar2022 31 2022 31 Mar 2021 31 Ilar2W21 Grwp ClwKy Trdde Creditors Amjals Deferred income Other taxes & soraal s6writy 159.230 9[KI,C2 31.151 lo7,1 159J) 30.033 30.033 555.697 555.697 53.845 30.011 31.151 107.9)1 30.011 1.198.344 1.198.344 669.586 669. Deferred rn¢ome at 31 March 2022 IrUdes. £10,020 {221. £32.5(K)) for defBIr1 fees billed during 2021.22. but involcl in adv•e. deKx)sits future events of £17.751 (2021: £17.936) and r)ther charges billed in a(1Van ()f £3.380 (2W21: £3.409). Defeffed inGvme- Group & Ch8rrfy 2021•22 Balan at 1 April Amount raleased Amount detsrred 21.837 {21.8371 ).101 BanCe at 31 March 31.151 Crodilors: Amounts Falling Duo after more than Ono Y 31 Mar 2022 31 Alv 2022 31 Mar 2021 31 Mar 2021 ¢1p Chwity Group Charlty Finance lease creditor 122,083 122,0&3 122.083 122,083 122.083 122,083 122.083 122,083
ashornehill Creditors: Amounts Falllng Due withln One Year (continued) Finan lease Obligations under a finance lease are secured by the Teiated assets and Ixar finan chargeg at a rate of 235.5% per annum {20221. 154.8Yts annuml. 2021-22 2020-21 The total future minimum lease paymerrts are payabl8: Less than one year Btheen one and five years After five year8 288.000 1,152.000 11.520.000 189.000 756,000 7.749,000 12.960.000 8.694.000 Le88: Future finance tharges {12,837.917) (8.571.917) 122,083 122,083 "Finance lease payments T8psent rentals payable by the College for building5. The lease does not include purchase options at the end of the lease period, and assets must onty t used in fvrtherance of the Charivs objects. The lease expires on 28th September 2067. The Company's obfigations under finance leases are secujpd by the lessorfs charge over th8 leased assets. The net tK)ok value of secured assets is disclosed in note 11. 15. Anatysls of Not Assets Between Funds Group ¥t 31 Mareh 2022 General Building DgV01opment Re5trfctsd Funds Reserve Fund Capltal Fund Totsl Funds Fixed Assets & Invesbnents cuent Assets Current Liabilities Long-t6m7 Liabilit18S 4,660.356 817,692 1.300,000 (1.198.344) {122,083) 125.535 4,785,891 2,279,642 (1,198.3441 (122.083) 161,950 At 31 March 2022 4,157,621 1,300.000 161.950 125.535 5.745,1( Group at 31 PAarch 2021 General Building D•v•lopment Restrlcted Funds Ros•rvo Fund Capltal Fund Funds Fixed A8sets & Investments Current Assets Current Liabililles Long-term Llabilities 4.814,150 712,132 1,300,000 1669.586) {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 15. Analysls of N•t Assets Betwoon Funds Icontlnued) Company at 31 Mar¢h 2022 Genernl Buildlng Developmont Rostrlcted Funds Resen Fund Capital Fund Total Funds Fixed Assets & Investments Current Assets Current Liabilities LOng-te Liabllltles 4.660.356 817.692 1.300,000 (1,198.344) (122.083) 125.535 4,785.891 2,279,642 {1.198.344) (122.0831 161.950 At 31 March 2022 4,157,621 1,300.1)00 161,950 125,535 5,745.106 Company at 31 PAarch 2021 Gra1 Buildlng D8velopment Restricted Funds Reserve Fund Capital Fund Totsl Funds Fix&Y Assets & Investments Current Assets Current Liabilities Loterni Llabilities 4,814,152 716,712 1.300,000 1669.586) (122,083) 129,280 4,943,432 2,178.662 1669,586) {122.083} 161.950 At 31 March 2021 4.739,195 1,300.000 161,950 129.280 6,330,425 16. Movemènts in Funds Group General Funds Building Development Restrlct?d Fund Capital Fund Total Funds At 1 April 2021 Income Expendrturo 4.734.613 2.798.276 (3,375,268) 1,300.000 161.950 129,280 6.325.843 2.798.276 (3,745) (3,379.013) At 31 March 2022 4.157.621 1,300,000 161.950 125,535 5,745,106 Genoral Funds Bullding Dawlopm•nt Restricted Reserve Fund Capltal Fund Total Funds At 1 April 2021 Income Expenditure 4,739,195 2.780,935 {3.362,509) 1,300,000 161.950 129,280 6,330.425 2.780.935 (3.745) {3.366.254) At 31 March 2022 4.157.621 1,300.000 161,950 125,535 5.745,106
ashomehill 16. Movoments in Funds {GoTrtlnued) Pu The Building R8S8Ne is a designated fund forfutrjre buildlng projects. The Development Fund Is a dgsignated fvnd estsblrshed to ensure that continuity Is maintained by protecting resources ft)r the development of new programmes and activittes (training (pabilty). In line with th8 2021-22 pfan the development fvnd was maintslned at £161.950. The Restricted Capital Fu1 is for donatiorts receNed from Jaguar Land Rover for the purpose of capttal investmenL 17. Pensions The Charty has a Group Personal pension scheme operated by Aviva (prevlousty Friends Life). This penston vehicie has also been used to automatically enml all employees of AHMC into a pension scheme from 1 July 2014- this iking the enrolment date for AHMC as set- out by the Pensions Regulator. The totsl cost of em 0yer'S pension contributions for College employees during 2021-22 was £91.08312020-21: £86,432). 18. Commltments under Opgratlng Leases At 31 March 2021 the Charity had total fvture minlmum lease payments un(ler non- ¢ancellable operating teases as fomows.. 31 ma 2022 Land Other 31 March 2021 Land Other Payments wtthln one year PayrT7errts ben two and five year8 Payments in over fNe years 32,000 128,000 1,296.000 5,040 11,141 21,000 3,975 84,OCK) 10,506 871,5(10 1.456.000 16,181 976.500 14.481 The total amount charged to the statement of firranci81 actNities In the year in respect of operating leases was £36,035 {2021>21: £34.572}. 19. Subsldiary Undertakings The Charity has one owned subsidiary company, Ashome Hlll {Tr8dlng) Limited. which is registered in England and Wales {registered company number 5335543). The (ompany arranges conferences and events as delegated by the Charity, in acrdanCe wtth an 0ratIng licence held by the subsidiary. An administration charge made by the Charity to Ihe subsldlary for the use of College resour{ in accommodating and managing the events. Th18 is disclosed in note 9. -27-
ashornehill 19. Subsldlary Undertakings (contlnued) The company grft aids all profits to tho Charity and a summary of the financtal resutts is shown as foifows: ncom• •nd Expendlture Accowrt (g 2021-22 202[21 Tumover Operailno costs Irluding 8dministration tharge 97.618 (12,759} (5,046) Operating Profil l (Loss} (4,5821 (Lossl I Profll for the year 84.859 14,582) Gfft donation to P8renl undertaking (80277) Rotained in subsidlary 4,582 {4,582) Balanc¥ Slwet 31 Mar 2022 31 Mar2021 Current assets Current liabilities 34.522 (Sl.520} 200 (4,7801 Nat Iliabilitiesl l assets 14,580) Called up share capitsl Profil and Ioss S(Unt (4.5821 ReseNes {4.5801 -28-