ASHORNE HILL THE HOME OFASHORNEADVANTAGE Ashorne Hill Management College (A company limited by guarantee) Report and Financial Statements For the year ended 31 March 2025 Company number 00889791 Charity number 528784
ASHORNE HILL Ashorne Hill Management College (A company limited by guarantee) Report and Financial Statements For thè year ended 31 March 2025 Contents Page Trustees, Annual Report Independent Auditors, Report Consolidated Statement of Financial Activities 12 Consolidated & Charity Balance Sheets 13 Consolidated Statement of Cashflows 14 Notes fonning part of the financial stalemenls
ASHORNE HILL Trustees. Annual Report for the Year Ended 31 March 2025 The Trustees present their report and audited financial statement5 for the year ended 31 March 2025. Reference and Administrative Information Charity Name.. Ashorne Hill Managemenl College {"AHMC" "the College"} 528784 Charity registratior) number.. Company registration number.. 00889791 Registered Office and Operational address Ashorne Hill Leamington Spa Warwiokshire CV33 gQW Structure and Governance The College is registered as a company limited by guarantee and is governed by its memorandum and articles of association. It is registered as a charity with the Charity Commission. As defined by the College's rnemorandum & articles of association, the members of the College are the Trustees of AHMC and such other persons or organisations as appointed by Ihe Trustees. In the event of being wound up, every member of the College undertakes to contribute £1,000 for the payment of the debts and liabilities of the College. The following persons acted as Trustees, Members and Key Management Personnel (see note 65) during the financial year= Mr D Vvilliams (Chair) Ms A Chick Mr M Wilson Mr P Dhillon Mr AS Isherwood Mr5 M Jennings Mr EJ Wesl Ms C Barber Jaguar Land Rover Jaguar Land Rover Jaguar Land Rover Jaguar Land Rover Institute of Student Employers Venues of Excellence AHMC Kigo Consulllng {appointed 8" May 20241 The following person acted as Company Secretary during Ihe financial year: Mr C Hodgson AHMC Relevant Organisations Auditors- Dains Audit Limited, 2 Chamberlain Square, Birmingham B3 3AX Bankers - Nalvvesl Bank Plc, 59 The Parade, Leamington Spa CV32 4BA Solicitors - Wright Hassall LLP, Olympus Avenue. Leaminglon Spa CV34 6BF
ASHORNE HILL Aim and Objectives Purpose of the Charity 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 advancement of education and learning and in particular the raising of the standards of managemenl and leadership skills across all sectors. Aim The aim of the College is to be a management and leadership training provider of excellen by developing solutions to fulfil customers. training requirements. Expertise is offered in the fields of leadership, graduate development and management dev81opment through a complement of trainers and associales. Charitable Activities and Public Benefit The Trustees have considered this matter, in conjunction with the guidan contained in the Charity Commission's general guidan on public benefit, and have concluded that= 1. The aims of the organisation continue to be charitable., 2. The benefits are for the public, and are not unreasonably restricted in any way and certainly nol by ability to pay., and 3. There is no detriment or harm arising from the aims or activilies. In accordance with the aim, the College provides management training across all business sectors. The training, whilst focussed at management level. is available through dedicated company programmes. Enhancing management skills clearly benefits both the individual and Company with an added positive impact on the British economy. This provides personal development and, through work related assignments and feedback to line managers and HR Directors, organisational development is embedded post delivery. Delegates benefit from learning within a diverse community and AHMC promoles diversity on training courses to share and learn from a wide range of experiences. Training is also provided through Ihe Conference Centre facilities., and this is a viable servi provision in it5 own right. The facilities are booked at prices which are comparable with other similar centre5 and are available for public and Gharitable use. The reserves of the charity are invesled in improving ihe Grade 2" listed premises and the facilities available with Ihe objeclive of delivering an enhanced training environment to generate future training revenues. The public, in Ihe guise of training and conference participants as well as visitors, continues to enjoy the facilities on offer. As a charity Ihe general public have the assufance that all the income of the College must be applied for educational purposes. As an educational charity AHMC enjoys tax exemption on educational activities and investment income and gains as these are applied to the charitable aims. As a charity the College is also enlitled to an 800/0 reduction on business rates. The financial benefits received from theso tax exemptions are all applied for educational purposes.
ASHORNE HILL Envlronmental and Safety Responsibilities In addition to the Charitable Activities. the College maintains health and safety as a top priority by investing significantly in both a safety management system and the training and development of staff. A Health & Safety Committee is in place to ensure a year on year irnprovement in cultural behaviour and altitude to working safely. This committee of employees hold regular meetings to discuss H&S issues. Planned audits of the site. its facilities and activities. are undertaken with a report to the AMC. lo ensure any necessary action is taken. The College continues lo develop its environmental policy. Waste management has been improved dramatically with much of the waste being recycled., the objective being to reduce the carbon footprint. Agreements currently in place cover the recycling of paper. cardboard, prinler Cartridges, glass. eleclric light bulbs and electrical hardware. Management The Board of Trustees In order to match best practice guidance on good governan and to ensure all Trustees are active and fully involved in the running of the College, the number of Trustees is lirnited lo 12. The composition of the Board of Trustees is designed lo provide a mix of commercial and educational expertise to ensure that the charitable objects of the organisation are achieved. All Trustees give of their time freely and no remuneration is paid for their services as a Trustee. The Trustees meet at least bNice a year, receiving reports from a Commercial and Strategy Committee and a Finance and Audit Committee. As the Trustees of the College, the Board is composed of not more than six Trustees nominated and appointed by Jaguar Land Rover Limited. Six additional Truslees are appointed by reason of their academic standing or commercial experience. Trustee Induction and Tralning Currenl Trustees identify suitable candidates who are invited to serve as Trustees. Potential candidates 2re appointed with a view to their professional competence and experien across a variely of sectors and across the training and conference industries. New Trustees are offered a presenlatiori about the history of the College, its aims and objeclives. They are also provided with copies of the memorandum and articles of associatiori. latest accounts. rent minutes and suitsble Charity Commission guidance. On going training is also provided lo er)sure trustees are up-to-dale with regard to their duties as trustees. This training includes, but is not limited to, updales with regard.. the College's purpose and benefit to the public- the College's rules.. what's best for the College and who it helps, and., lh8 Strategic, financial and operational risks to the College. Sub Committees The Finance and Audit Committee meets twice a year, the main duties of which are: To approve the annual aG¢ounts and truslees report for submission to the Trustees and members.
HORNE HILL To consider issues raised by the auditor. To monitor progress against financial targets in the annual plan. Ensure the integrity of financial syslgms. The COmPDsilior) of the Finance & Audit Committee is P Dhillon and J West with C Hodgson in attendance. The Commercial and Strategy Committee also meets twice a year. The main duties of the Committee are.. To review the progress made in achieving the Trustees, strategy. To consider business development activity, the Colleg8's operating environment and trends in the customer base. Cor)sider how the objectives may be achieved in future years. The composition of the Commercial and Strategy Committee is J West, A Chick, C Barber, M Jennings and S Isherwood. Key Management Personnel and Business Management Team The Trustees delegate day-to-day control of the College to the Managing Director. J West, who is noted, alongside the Trustees, as the Key Management Personnel. Trustees reNe no remuneration in respect of their duties as Trustees. The Managing Director is 8 seconded employee of Jaguar Land Rover. Salary, pension and national insurance conlribulions for the Managing Director are governed and settled by Jaguar Land Rover. The Managing Direclor ts formally advised by the Ashorne Management Committe (AMCI. The team consists of professional managers of the training, conference, support and finance functions and meets formally each month to review performance. future plans. prospects and resources. Multi-disciplinary teams, usually led by AMC members, are appoinled lo progress specific objectives approved by the Trustees. Related Parties and Dependency The College is governed by Trustees (who also act as Members of the College) up to 6 of whom are appointed by Jaguar Land Rover Limited which is part of the Tata Group of companies. The College has no material dependency upon free services or other intangible in¢ome. A trading subsidiary, Ashorne Hill (Trading} Limited, has been established to transact non- haritable business and gift aid profits back to the College. Strategic Report Rtsk Managemant A Risk Register of the major risks to which the College is exposed is in place and is formally reviewed and amended annually. Systems and procedures are in place to mitl9ate risks and the progress against actions reviewed quarterly.
ASHORNE HILL The principal risks to the College have been identified as.- Governance, with respecl to trustee conflicts of interest. Operational, in terms of Competition and fire, and,. Financial being the risk of over-dependence on single income sources. These risks are managed through Trustees fully declaring conflict5 of interest on an annual basis. management analysis and benchmarking of competitors. annual reviews of fire protection systems, controls and processes, and a strategic plan lo diversify the College customer base. In addition. the impaot on the College due to regulatory changes is constantly reviewed both internally and by extemal specialists. Internal conlrol risks are also minimised by the implementation of procedures for authorisation of all transactions and projects and the policies of the Quality Management System. Procedures are in place to ensure compliance with regulations. These procedures and policies are periodically reviewed to ensure that they continue to meet requirements. Response to Need Most of the training provision is developed at the specific request of the olient. The training provided covers all levels of management from team leaders and new graduates to middle and senior management. Close liaison with clients along with a well-managed feedback system is in place and is used to gauge satisfaction of the deliverylcontent of training and the learning environment. All feedback is channelled inlo regular reviews and actioned through the knowledge management and the facilities databases. All accepted changes then form the basis for future training programmes, service provision and facility enhancements. Funding of Activittes Aclivi118s are funded by the charges made lo clients for the provision of training. conferencing facilities and associaled services. Additional income is earned from interest on bank deposits, rents from properties not currently used for training purposes and from rechaiges for telephone and other services provided for delegates. During the period ending 31 March 2023, income was generated from the following sources.. 2024-25 £000 7.515 204 58 25 2023-24 £000 6,657 160 Fees earned Trading Subsidiary (Gift Aid) Rents and Sundry Income Investment Income 969 3% <1/0 97% 2/ <1/0 <1% 37 Total Income 7.802 6,898 Fund Raising The College does not engage in fund raising activities.
ASHORNE HILL Financial Review In 202¥25 the College had a cash inflow from operating activities of £1,458,751 (2023-24.. £4g7,7301 from total income of £7,801.784 (2023-24.. £6,898,295). After capital expenditure of £724,775 the College had an inflow of cash of £759,155 (2023-24: outftow of £585.813) and increase in funds of £300.727 {2023-24'. £220,784). This has increased total funds lo £6,461,233 at 31 March 20251£6,160,506 at 31 March 20241. Cash balances at 31 Mar¢h 2025 were £2,072.220 (31 March 2024.. £1,313,065}. Assets The College's main assets include the leasehold land and buildings at Ashome Hill and the fittings and equipmenl necessary to achieve the provision of education and training. There have been no revaluations of fixed assets during the year and the Trustees are satisfied that the asset values are reasonably reflected in the balan sheet and that Ihe rates of depreciation used are appropriate to reflect the diminution in value during the year. Reserves The Group's reserves total £6,461.233 of which £5,438,841 is held as fixed assets {of which £114,300 is held as restricled reserves). After deduction of designated funds of £1,461,950, this leaves the balance of free reserves as £nil. As a residential training college within a Grade Il. listed building AHMC incurs a high level of fixed costs in maintaining the fabric and condition of the facilily. In the event of significantly adverse business conditions, the Trustees consider it prudent to hold minirnum free reserves of£600,000, being approximately three months of overhead costs. Any free reserves held in excess of this minimum are retained to support the charity in times of financial uncertainty. The Trustees confirm that the Charity will work to rebuild free reserves. and review funds that have been designated, in order to meet the minimum free reserves target of £600.000. Subsidiary Company In January 2005 a trading subsidiary, Ashorne Hill {Trading) Limited, was established to transact non-charitable business and gift aid profits back. The Irading resulls of the subsidiary have been consolidated in the overall result of the Charity. During the year, the subsidiary's turnover amounted to £203,843 (2023-24.. £160,249). After administration charges and other costs. a surplus of £177,163 (2023-24.. £138,454) was recorded by the subsidiary. An amount of £177,163 (2023-24.. £138,454) has been returned lo Ihe Charity under Gift Aid arrangements in June 2025. Investment Power6 and Authorities Under the Memorandum of Association the College has the power to invest sums not Immediately required for ils purposes in such investments, securities or property as may be thought fil to fulfil ils stsled objectives. subject to any provisions or constraints imposed by law.
AIHORNE HILL Plans for Future Periods All effort is now focussed on rebuilding the Leaming faculty, venue operations and business development to bring the College back to pre-COVID-19 operating levels and beyond. To this end a 5-year plan has been developed for the period 2023 to 2028. Trustees, Responsibilities for the Financial Statements The Trustees (who are also direclors of the charity for the purposes of company law} are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for eaGh financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the oharitable group for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently-, observe the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent state whether applicable UK AccoLJnting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial slatemenls on the going concern basis unless il is inappropriate lo presume that the charitable company will conlinue in business. The Trustees are responsible for keeping proper accounting records that disc105e with reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and also responsible for ensuring Ihat the assets are properly applied in accordance with Charity Law. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and olher irregularities. 10. Statement on Disclosure of Information to the Auditors So far as each Trustee is aware, there is no relevant audit information of which the Charily's auditors are unaware. Each Trustee has taken all the steps (such as making enquiries of other Trustees and th8 auditors and any other steps required by the Trustee's duty lo exercise due care, skill and diligence) that he oughl to have taken in his duly as a Trustee in order to make himself aware of any relevant audit information and to establish that the Charily'5 auditors are aware of Ihat information.
ASHORNE HILL 11. Auditor A resolution to reappoint Dain$ Audit Lld as auditor for the ensuing year will be proposed at the forthcoming annual general meeting. Approved by th8 Board of Trustees and signed on its behalf by: Tru5tg9 Ls. 1A+lLIIAf Dale 2025 Trustse l. E>14 1 UN Date 1317/ 2025
ASHORNE HILL Independent Audltors. Report to the Membtrs of Ashome Hlll Managemont College Oplnion We have audited Ihe financial staternents of Ashorne Hill Managerrent Collège (the 'parent charitable compally'l and its 5ubsidi8ry Ithe'group'i for the year ènded 31 March 2025, which comprise the Consolidated Statement of Financial ActiVitS, the Con501idated & Charity BalanTr Sheets, thè Consolidated Staternent of Cash Flows and th8 relgled notès, including a summ8ry of signrficant accountlng ptslicies. The financial reporting framework that has been applied in their preparation is appli&8ble law and United Kingdom Accounb"ng Standards, Inoludiry Financial Reporting Standard 102 'The Flnttncial Reportir@ StarKlard applicable in the UK and Rèpublic of Ireland. (United Kingdom GÉnerally Accepted Accounting Practicè). In our opÉnlon the financial statements.. give a tme and fair view ol the state of the group's and the parent ch8ritsble rompany's affairs as at 31 March 2tr25 and ol the group's incoming $0(Erce5 and applie3lion of r9sourc8s, including its income and expenditurè for the year then Ènded,. have been properly prepad in accordance with United Kingdom Generally Accepted AC¢Cnting Practice-, and have been pr&pared in accordancè with the requirements of the Companies Act 2006. Bas18 for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII an(J applFcable law. Our Sponsibl11t1es under those standards are further desuibed in tho Auditors, responsibilities for the audÈt of the finan¢ial stateTnenls section of our rewrt. We are indèpendernt of the group and the parent charttable company in accOance with the tsthical reqU1MentS that are relevant to our audit of the finifjcial statements in tha United KId0M, including thB Financial Reporting Council's Ethical Standard and we have fulfilled our other ettlical responsibilities in accordance with these requirements. We bell&ve that the audit evidence we have obtained is sufficient and appropri81e lo provide a basis for our opinion. Con¢luslons relating to golng concern In avditing th8 financial statements, we havs concluded that th& Tnjstees, use of the going concam basis of 2cwunts.ng in the prepAf8b'on of the financial statem6nts is appropriate. Based on thè work we have performed. w6 have not identified any material uncerkinlies relating to events or conditions that, individually or collèctively, may cast Significant doubt on the group's or the parent charitable cornpany's ability to continue as a going concem lor a period of at least twelve months from when thè financial statèments are 8Uthoris6d for issue. Our responsibillties and the responsibilities of the Trusteos with r8specl lo going coneem are dÉscribed in thè relevant sections of this rEPOrt. Othor infomiation The other information comprises thè infomlation included in the Annual Report oth8r than the fin8nclal ststemènts and our Auditors, Report Iheréon. The Trusteas are SPonSible for the other inforniation cont8ined within thè Annual Report. Our opinion on the financial staternenls does not cover the other information 2nd, except to the extent otherwise èxplicitly $18led in our report, we do nol express 2ny fom7 of assurance conclusion thereon. Our responsibility is to read the olher infonnab.on and, in doing so, consider whether the other infomation is materlalty inconsistent wth thè financial statements or our knowledge obtained in the course of the audit. C>r othèrwise appears to be Materially misstated. If we identify such malerial inconsistÉn¢ies or apparent material misstatements, w8 a required lo detemilne whether this gives rise to a material misstatement in the financial statements th&msolves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other informabon, we are Tequir6d to report that fact. We have nothing lo report in Ihi5 regard. Opinion on oth•r matters pre6crfb•d by tho Companles Act 2006 In our op¢nion, basèd on the work undertaken in the course of the aud. th& information given in tt)e Trustees. Report for Ihe financial ye8r for which the finan¢ial siatsments are prepared is con51Stent wllh the financial statetnents., and
45HQRNE HILL the Trustees. Report has been prepared in accoan¢e with applicable legal raquirements. Mattèrs on whl¢h we are required to report by exceptlon In the light of the knowledg& and understanding of the group and the patEnl charitable company and their environment obtait)ed in the course of the audit, we hav$ rtot identified material misstatèments in the Truslfyes, Rèport. We have nothing lo report in resped of the following matters in rejation lo whlch the Companies Act 2008 and the Charibes Act 2011 requires us to report to you if, in our opinion.. adequate accounting iecords have not been kept. or relums adequ8tÈ for our audit have nol been recerved from branehes not visited by us,. (>r the financi31 statements are not in agreetnent with the 2ccounting records and tUrns,, or cèrtain disclosures of trustee's rfsmuneration sp9cified by law are not rnade,. or we have not rèceived all the information and explanations we requira IOT our aud((.' or the Trustees wore nol entiued to prepare the financial ststemènts in accordance with the sm811 companies regime and take advantsgè of the stnall companies, exemptions in preparing th8 Truslee5' Report and from th8 requirement to prepare a StralegtG Report. R¢$ponslbllrtigs of trustees As explained more fully in the Trustees, Responsibilities Statement sel out on page 7, thg Truslees (who arè also the directc*rs of the group and the parent charitable company for the purposes of company lawl are responsible fr>r the preparation ol the financial slalements and for being satisfièd that they give a true and fair view, and for internal control as the Trustees deterrlline is neees88ry to en8ble the preparation of finan¢lal siatements that are free from material misstaternenl, whether due lo fraud or error. In prep8rtng the fjn&ncial stal8ments, the Trustèes are responsible lor assessing the grDUP'S and Ihg parent charitable company's abllity to continue as a going concEm, disclosing, as applicable, matters related to going conoern and using the going concem basis of a¢¢ounting unless the Tmstees eilhgr intend to liquidate the group or parent charttsble company or to cease operations, or hav8 no reallstic alternative but to do so. Audltors. respon8lbilltl•s forthe audit of th• financlal statements Our objectives are to obtain reasonable assufanGo about whether the financial statement$ 88 a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarante& th81 an audit condLEcled accordance wth ISAS IUKI will always detect a material mi581atement when it exists. Misstatements can arise from fraud or erior and a consider8d material if, individually or in the 8ggregale. they could reasonably bè expect6d lo influencg the economic de¢isions of users taken on the basis of these financial ststements. Irregularities, including fraud, are instances of non-compliance wlh laws and regulations. We design procedures in line with our responsibilities, outlinèd above, to dètect matetial misst8ternents in respecl Of irregularities, including fraud. The 6Xtent to which our procedures are capable of detling irregLFlarilies, induding fraud is detailed bèlow. Our approaGh to identlfying and assessing the risks of material misstslement in respect of irregularities, including fraud and nowornplkance with laws and regulations, was as follows.. the senior statutory auditor ensured that the èngagement team collectively had the appropri8te competence, capalililies and skills tts identify or rÉcognise nonqcomplSancg with applicable laws artd regulalions., we identified the l£ws and rsgulations applicable to the group and the parent tharitable company through discussion5 Wlth Trustees and olhor manag8ment, and from our commerGial knowledge and experience of the chArity sector- we focused on specific laws and regulations which wè CorIdered may hav$ 8 direct material effect on thè financial statements or the op8r8tions of the group and the parent charitable company, including the financial reporting legislation. Corllpanies Act 2006, taxation legislati(, anti-bribery, etnploymènl, and Environmentgl and health and safety legislation,. W8 assessed th8 ext@nt of compliance with the laws and règulations identifièd above through moking enqyiNes of management 2nd inspecting legal correspondence- and Idènlrfied laws and regulations warè communicated within the audit team regularty and the team -10
ASHORNE HILL rèrnained alert to instances of non-compliance throughout tre audit. We assessed thè susceptibility of the group's and thÈ parent charitablè cornpany's financial Statements to material misslatemenl, inclu(Jing obtsining an understanding of how fraud might occur, by.. making enquiries of management as to where they conside there was suscepb"bilty to fraud, their knowledge of actual, suspected and alleged fraud., and considering the int6mal controls in place to mitigate risks of fraud and non-compllance with law8 and regulations. To address the risk of fraud through man8goment bias and override of controls, we.. performed analytical predureS lo identify any unusual or unexpected relatiDnships- tested journ81 entries to identify unusual transactions., assessed wheth6r judgements and assumptions made in deteinIng the accoLmting estimatès wero indicative of potential bias,. an(S investBaled th& rationale behind ssgnificant or unusual Irensa¢lions. In response to the risk of irregulartlles and non-wmpliance with laws 2nd regulalltsns, w6 dssigned procedures whiGh included, but were nDt limited to.. agreèing financial statement disclosures to underfying Supporti docum8ntation', readirTrg the mlnules of meetings of those charged with governan.. enquiring of management as lo actual and potential litigation and claims; and revie9 correspondence with HMRC, relevant règulators and the group's and the parent oh3ritabl8 company s legal advisors. BeGause of thè inherent limitations of an audit, IheTe is a risk that we will not detect all irr8gularilies, Including thosÈ leading to 8 material misstatemènt in the finarFcial siat8ment6 or non-compliance with règulation. This risk incr8ases the tllore that compliance with 8 law or regulaQ'on is removed from the events and transaclions reflected in the financial statements, as we wll bè less likY lo become aware of instan$ ol non<ompliance. The risk is also grealer regarding iiregularities occurring due to fraud rather than eTor, as fraud involves intentional concealmenl. forgery, collusion, ornisslon or misrepresentation. A further description of our rfsponsibililies for the audit of th8 financial slalements is located on the FirFancial Reportng Council's websitè al.. www.frG.org.uklauditorsresponsibilitiès. This deseiiption forms part of our Auditois, Report. Use of our report This report is made solely lo the group's and the parent charitable eDmpany5 mernbers, 8s a body in accord8rFce with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undèrteken so that we might state lo the group's and the par¢nl charitable company's members those matters we are required to slate to them in all Audito. Report and for no othèr purpose. To the fullest exlenl patmitted by law, we do not accept or assume r8sponsibility lo anyone other than the group and thè parent charitable company and its rnembers, 88 a body, frir our audit work. for this report, or for the opillions we have fornied. Mark Gum8y FCCA IS8nior Stslulory Audttorl for and on behalf of Dains Audit Llmlted Statutory Auditor Chartered Accountants Birmingham Dale.. 28 Juty 2025 11
ASHORNE HILL Con$olidat8d Statern8ot of Fittanclal Aciivitles Ilncorpordtlng the Income a Expendlture At¢ountl For the yoar to 31. March 2025 Ashorne Hlll lffanagement Collego Regslered No. 00889791 Unresthcted Funds Year ended 31 MarGh 2025 Restricted Funtls Year ended 31 March 2025 Totsl Funds Year ended 31 Marth 2025 Total Fund5 Year ended 31 M8rch 2024 Notes me from.. Chantable acbvilies Other trading activities Investments 7,514.306 2e2,299 25.179 7,514.306 262.299 25.179 6.657,355 203,f1>1 27,339 Total Incomè 7,801.784 7.801.784 6.898,295 ndllur 11fj Charitable Actwitie5 Raising funds Other Loss on disposal offixEd assets 7,058,882 54,698 381.634 2,098 3.745 7,062.627 54,698 381.634 2.098 6.279.984 49.915 334.818 12,814 Totsi expanditure 7.497,312 3.745 7.501.057 6.677.571 Net income I lexpendituf•l lortho year 304,472 13,7451 300,727 220.784 Flet mov8m8nt in funds )4,472 13,7451 300.727 220.784 Total lunds brought foJw8rd 811 April Total fijnds carried forward at 31 Mar¢h 6.042.461 118,045 6.16D.506 5,939.722 6,346.933 114.300 6.461.233 ,160.506 The statement of flnanual a¢"v11es inGludes all g8In$ and lossts in the year. I Income and exp8nditure erive from ¢ontinuing activitses. 12
HORNE HILL Consollr18t8d & Chalty 9olan¢g Sh¥•ts at 31 Mareh 2025 Ashomo Fllll Mtnag8mBnt C011¢g• Regi$tet¢(t No. i)0889791 Group 31 Marth 2025 Ch3rFty 31 M8rch 2025 Grotsp 31 March 2024 Crfty 31 Marth 2024 Not85 Flxtd A¥¥ots Tangible FiKed AÈ8ets 10 5.438,841 5,438.841 5,285.806 5.285,806 Inv98tmnts Sh4rg5 InA5h(xne Hill ding) Ltd CurrBnt A¥xts 41,142 1.275,12e 2,072,220 41.142 1,275,126 2.072218 40.110 1.567229 1.313,065 40,110 1,567,229 1.313.063 Dtht5 Cash et barnk 8nd In hand 12 3.388,4B8 3,388,486 2,tr2Q.404 2,920,402 Llabillll•s= amounts falllnA duo wtthln 13 11.32D.1271 11,329.1271 1986.6881 1086,8881 Net GIrent AB69ts 1,933,716 1,933,714 1.933,716 1,933,714 Ltsbllttl•s.' •mounts falllng dufr In mor8 tha on yoor 13 11.036.969) 11,036,989) 11.05g.0161 11.059.016) Tptsl $0$1858 LI8ts11tt10s 6.461,233 6.461.r63 6,780,50S 6.16D.506 Unrestrithed Funds Res)Icted Ftsnd$ 15 15 e,346,933 114.300 6,346.933 114.300 6,042,461 118.045 042.461 118.045 T4)tal Charlty Funds 6.4672 fj.401,233 6.le,508 e.160.506 A)prn & auth¢rised for wue by the Bo8rd ofTw8t888 and skdned ¢n tts behalf.. Tste 'P. D81e 2025 The ftoies on page$ 15 to 28fom part oflh8s8 fin•¢1 $t¥tpments. -13
ASHORNE HILL Consolidaled Statement of Cashflows fDt the year ¥nd8d 31 March 2025 A8horne Hill Man89gment College RegiSred No. 00889791 Year to 31 Mard) 2025 Year to 31 March 2024 Notes Cashflows from o adiviti Cash increase frotn operabons 1,458.751 497,730 Nei ¢85h inflow pffjmded by Dpersting a¢tywbe5 Cashflows f Minv lTrlerest received Paytnents to 8cquire tangibte fi¥ed asse15 1,458.751 497,730 ctiiryti 25.179 1724.7751 37,339 11.120.882) Nel cA$h used in investing a¢tivitiEs 1699.5961 It.083.5431 Change in cash and osh equivalents in the raporting peri 759,155 1585,8131 Analys18 of cash and eash equivalent8 Cash 2nd cash equivalents at Ihe beginnlng of the reporting period 1.313,065 1.898,678 Cash and Gash equivdents at the end of thè reporting period 2,072.220 1,313.0fj5 Nol£s to Stat&rnent of Cashflows Year to 31 March 2025 Year lo 31 March 2024 nali8tion of nel Income I shfiow from o eratin Iture nel Net inc Interest rec&ivable Depreciation charges L05s on disposal of fixed 8sgets Iln¢re3S81 I detrease In stOGk5 D8crÈase I lin¢rea5el in dÈblors InereHSE In creditors 3CQ.727 125,1791 569.641 2.098 11.0321 292.103 320.393 220.784 137.3391 495.og4 12,814 14.962 1502.9611 294,376 C8sh incwsefrom op8ralons 1,45S.7S1 497,730 -14
ASHORNE HILL Ashorne Hill Management College Notes to the Financial Statements Year Ended 31 March 2025 Accounting Policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. (a) Basis of Accounting The financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounling and Reporting by Charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland" (Charities SORP IFRS 102)) issued on 16 July 2014 and FRS 102 "The Financial Reporting Standard applicable in the United Kingdorn and Republic of Ireland" {"FRS 102.1 and the requirements of the Companies Acl 2006 and UK Generally Accepted Accounting Practice as il applie5 from 1 January 2015. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these firbancial statements are rounded to Ihe nearest £. Ashorne Hill Management College meets the definilion of a public benefit entity under FRS 102. Assets and liabilities are inilially recognised at historical cost or transaction value unless Otherwise stated in Ihe relevant accounting policy note(sl. Going Concern Stress testing of Ihe College's operations and financial forecasts until Autumn 2026 has been carried out. This stress testing has satisfied the Trustees thal the College is able to deal with the impacl of unforeseen circUmstans. by means of a combination of mitigation strategies and the utilisalion, rf necessary, of ils financial reserves. On this basis, the Twslees are happy that the Charity is a going concern for a period of 8t least 12 months frorn the date of approval of these financial slalements. Consolidation The consolidated statement of financial activities, ba12nce sheet and statement of cashflows include the charity and its trading subsidiary. The consolidation is prepared on a line-by-line basis. The trading subsidiary was established lo transact non-charitable business and gift aid profits back to the Charity. Refer to Notes 12 for amounts owed to the Charity by the Trading Subsidiary. Refer to Note 19 for the financial summary of the Irading subsidiary. (b) (c) A separate statement of financial a¢tivilies (SOFA) for the charily is not presented because it has taken advantage of the available exemption under Section 408 of the Companies Act 2006. The profil dealt within the financial staternents of the parent company was £123,56412023-24.' £138,454). Income and Expenditure Account The Statement of Financial Activilies on page 12 discloses the identical information as that of the Income and Expenditure account and as such no Income and Expendriure account has been prepared. (d) -15
ASHORNE HILL Accounting Policies (continued) Fund Accountlng Unrestricled funds are available for use al the discretion of the trustees in furlherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Designated funds include a building reserve and a development fund (refer to Note 16). Restricted funds relate to donations and grants held for specific defined uses. Income Income includes income from Training Courses and Training and Conference facilities excluding VAT. All income is included in the Statement of Financial Activities when receivable, i.e. when the course or event to which they relate takes place. Included in Course Income are course development funds that may be reiVed from time lo time. All income is generated from aclivilies within the UK. (e) (o The income relating to courses or events invoiced in advance of the course or event taking place is treated as deferred income, credit for which is only taken during the accounting period in which that income is earned. Other trading activities of £262,2g9 {2023-24.' £203,601) include Rental and Sundry Income of £58,457 {2023-24'. £43,352) and income generated by the Trading Subsidiary of £203,8421202&24'. £160,249). Expenditure Expenditure is recognised on an accru81 basis as a liability is incurred. It is analysed on an actual basis over categories consi5t8nt with the Charity's operating activities, using the following methods. (g) Fundraisin costs Expenditure incurred in the provision of facilitie5 which are sublet or otherwise used to generate income from the subsidiary's trading activities and rents. Cost5 include rent payable, utilily services, maintenan, adminislration cost allowances and depreciation. Charitable activities cost This comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. It is analysed into the following categories- Training Courses Expenditure incurred in the preparation and provision of residential and off-sile courses, including Iraining consultant emoluments, associate fees, direct and indirect overheads. administration and depreciation. Training and Conference Facilities Expenditure incurred in support of AHMC facilities including catering, housekeeping. fronl of house, informalion technology, maintenance of buildings. grounds and equipment, administration and depreciation.
ASHORNE HILL Accountlng Policies {¢ontinued} ort Costs Support cosls include central functions and govemance costs. All costs are allocated between the expenditure categories of the SOFA on the basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor area, per Capita or estimated usage as set out in Note 3. iv. Exce lional Items The Group classifies Certain one-off charges or credits that have a material impact on the Group's financial results as exceptional ilems. These are disclosed separately to provide further understanding of the financial performance of the Group. (h) Fixed Assets Fixed assets (excluding stocks and investments) are stated at cost less accumulated depreciation and any impairment losses. Depreciation is provided at rates calculated to write off ihe Cost or re-valued amounts of each asset in equal instalments over its expected useful life. Long Leasehold life, comprising structural improvements to buildings, has been reassessed lo be until 28th September 2067, being the remainder of the lease (see note 1 (0)). The other effective lives and rates of depreciation are as follows.. Fixtures, fittings, tools & equipment. lift, car park Telecommunications equipment Motor Vehicles Computer equipment reciation Period 3 -15 years 3-4years 4-10years 3-4years The Charity does not capitalise assets costing less than £250. Where there is some indication that Ihe recoverable amount of a functional fixed asset is below its net book value an impairment review would be carried out, where possible on individual assets. A fixed asset is recognised for leasing agreements that transfer to the Charity substantially all the risks and rewards incidental to ownership (Yinance leases-). The amount capitalised is the fair value of the leased asset or, if lower, the present value of the minimum lease paymenls payable during the lease term. both determined at inception of the lease. Stocks Stocks are shown at the lower of cost and net realisable value. These include catering supplies and fuel oil. o) Investments The investment held as fixed assets is the value of the shares held in the subsidiary, Ashorne Hill (Trading) Limited. This is included in the financial statements at cost. Major Maintenance Major repairs and renew818 lo Ihe leasehold property are charged to the statement of financial activities in the year in which th6 Gharges arise. (k) 17
ASHORNE HILL Accounting Policies {continued} Pensions The College made contributions on behalf of employees into an Aviva personal pension scheme operated on a defined contribution basis. Contributions to the Group's defined contribution pension scheme are charged lo the statement of financial activities in Ihe year in which they become payable. Leases (i) (i) eratin leases Operating lease rentals are charged to the statement of financial activities on a slraight-line basis over the lease term. li. Finan leases- Ihe chari as lessee An asset and corresponding liability are recognised for leasing agreements that transfer to the Charity substantially all of the risks and rewards incidental to ownership {"finance leases"). The amount capitalised is the fair value of the leased asset or, if lower, the present value of the minimum lease payments payable during the lease term, both determined at inception 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 periodic rate of interest on the remaining balance of the liability. Contingent rents are expensed as incurred. Finan¢ial Instruments The Group only has financial assets and liabilities of a kind that qualify as basic financial instruments and are not considered to be of financial nature. Such financial instruments are initially recognised at Iransaclion value and subsequently measured at their settlement value. (m) Debtors - Trade debtors and other debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Trade debtors and other debtors are subsequently measured at amortised cost. being the Iransaclion price less any amounts settled and any impairment losses. C8sh al bank and in h8nd- Cash al bank and in hand includes cash and monies on short term deposits at the bank, other short-temi liquid investments wilh 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 result in the transfer of funds to a third party and the amount dLJe lo settle the obligation can be measured or eslimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Employee benefits (n) The costs of short-lemi ernployee benefils are recognised as a liability and an expense. The cosl of any unused holiday enlitlemenl is rewgnised in the peri¢xI in which the employee's services are received. -18
ASHORNE HILL Accounting Policies (continued) Employee benefits (continued} Termination benefits are recognised immediately as an expense when the College is demonstrabty committed to temiinate the employment of an employee or to provide termination benefits. (o) Critical accounting estimates and areas of judgèment Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the Circumstan5. In categorising leases as finance leases or operating leases, management makes judgements as lo whether significant risks and rewards of ownership have Iransferred to the Company as lessee. or the lessee, where the Company is a lessor. L•gal status of the charitable company Ashorne Hill Management College is a charitsble company and is also registered as a charity at the Charity Commission in England and Wales. The charitable company is limiled by guarantee and as such has no issued share capital. The liability of its members in the event ofthe company being wound up is limited to £1,000. The registered office and principal place of business is Ashome HS11, Leamington Spa, Wamickshire CV33 9QW. The group consists of Ashorne Hill Management College and its one subsidiary. Ashorne Hill {Trading} Ltd. The group's principal objeclive is the advancement of education and learning, in particular Ihe raising of the standards of management and leadership skills, across all sectors. Government grants The Coronavirus Job Retention Scheme Income is accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the consolidated statement of financial activities in the same period as the related expenditure. Iq) Charitable Actlvlties Unrestricted 2024-25 Total £ 2023-24 Total £ Training Courses Training & Conference Facilities 3,450.538 4,063.768 3,450,538 2,545,376 4,063,768 4,111,979 Total Income from Charitable Activities 7,514,306 7,514.306 6,657,355 -19
IHoRNE HILL Expenditure Unrestrictsd Funds Re51rtcled Funds Basis of Allo(xtio Cost of Generating Funds Trainlng Courses Conference Paolibes Conferenc8 Faciliues 2024-25 Totsl 2023-24 Total Costs dit*¢tly alloGated to activltles Trwnlng Direct 1,458,904 1.45B.904 1,095,821 Conf¢renc4ng Direcl 2.&Jg.876 2.609.876 2.622.363 Costs allocated to GenerÈl officeladmin staff 5.441 269.312 269.312 S44,065 465.556 Office costs 1.222 60,499 60,499 f22,22D 112,438 Residences 15.408 15,408 14.140 Rent 1,855 2,188 38.360 42,403 37.202 DeprÈpAation Usage )trr Area 11,393 56. 497,539 3.745 569.641 495.094 Legal & Professional 1,45g 72,196 72.196 145,851 128,517 Ublibes Usage 13,559 15,968 280.098 309.625 304.736 Business Devebpmenl Tumover Floor Area Staff Time Staff Time 4,188 207,2B1 207.281 41&750 369,087 Operats"ons Planning 268,049 268.049 233.899 E$iate5 M8inlenan 32,106 563.176 595,282 436.676 Goyernance 173 8.539 8,539 17.251 14.350 Tota15 54.698 2.183,957 4.874,925 3,745 7,117.325 6,329,879 Other expendlture 202Ak25 2023-24 Finance lease interest payable 381,634 334,818 Net incomo for the Year This is stated after charging.. 2024.25 2023-24 Depreciation on owned assets Depreciation on leased assets Auditors, remuneration - Audit services Other 568,406 1,235 15,670 2.775 493,859 1,235 14,350 2,545 Charges for audit services of£15.670 are split as £12.150 for the Charty and £3,520 for Ashorne Hill {Trading) Ltd. Other setvices provided by Dains Audit Limited relale to accounts preparation and Corporation Tax cornpliance seNices for Ashorne Hill (Trading) Ltd. -20
ASHORNE HILL Staff Costs and Numbers The total staff costs of the Group comprised.. Year ended 31 Mar¢h 2025 Year ended 31 March 2024 Salaries and wages (i) Employerfs Nl costs Pension costs 3,137,352 299,171 204,134 2,606,377 232.54g 158,616 3,640,657 2,997.542 Employees whose emoluments exceeded the annual rate 01 £60,000 during the period were as follows.. Year ended 31 March 2025 Number Year ended 31 March 2024 Number £60,00110 £70,000 £70,001 to £80,000 Pension costs for these employees in the period were £20,89012023-24'. £18,746}. The average number of persons employed during the year was.. Yearended 31 March 2025 Number Year ended 31 March 2024 Nurnber Training Consullants Other full-lime employees Other part-time employees 71 24 64 27 103 96 The trading subsidiary employs no staff. Key management remuneration The key management personnel of the parent charitable company comprise the Trustees and Mr EJ West. the Managing Director, being those responsible for the day-Io•day running of the charity. The total employee benefits for key management personnel of the charitable company and group was £nil (2023-24= £nil). This amount is normally a recharge from Jaguar Land Rover of salary, pension and national insurance contributions for the Managing Director. This recharge h8s been waived by Ja9uar Land Rover in the current and comparative periods. Reimbursement of Charity expenses totalling £nil were made in the year {2023-24.- £nil). The other Trustees receiv8d no remuneration in respect of their duties as Trustees. -21
ASHORNE HILL Trustee Remuneration The Charity paid no remuneration to Trustees in respect of their duties as Trust8es during the year. No retiremenl benefits are accruing lo the Trustees under a pension scheme in respect of qualifying service. During the period £nil (2023-24 £nil) charity expenses w8re reimbursed to any Trustee. Related Party Transactions Several of the Charity's Trustees are also directors or senior managers of Jaguar Land Rover Ltd, Tata Sleel Europe Ltd (both part of the Tata group of companies) or Venues of Excellence. During the year the following business was transacted with those entities and Ashorne Hill (Trading) (company registration No: 05335543).. 2024-25 Transactions Balance at 2023-24 31 March Transactions 2025 Balance at 31 March 2024 Charges to Ashorne Hill (Trading) for services Charges to Jaguar Land Rover for courses and services Charges to other Tata Group companies for courses and services Charges to Venues of Excellence for courses and services Services suppilè£g by Jaguar Land Rover Services supplied by Venues of Excellence 20.384 16,025 3,516,575 337,863 :. 3.185,075 872.071 17,306 51,455 28,602 613 736 488,541 372.020 24,000 5,802 9.193 Taxation As a charity AHMC is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils chargeable objects. No income tax charges have arisen in the Charity. The College is registered for VAT. -22
ASHORNE HILL 10. Tangible Fixed Assèts Group and Charity Total Long Leasehold Fixtures, Flttings Property & Equipment Motor Vehicle$ Cost Al 1 April 2024 12,772,765 6.596,046 6,116.553 60,166 Additions 724,775 724,775 Disposals 1219.505) (8,5811 (210,924} At 31 March 2025 13,278.035 6,587,465 6.630,404 60,166 Accumulated D¢preciatSon Al 1 April 2024 7.486,959 2.898.548 4,540,187 48,224 Charge for year 569,641 90,437 473,605 5,599 Disposals 1217,406) 18,5811 1208,8251 At 31 March 2025 7,839,194 2,980,404 4,804,967 53,823 N8t Book Value Al 31 March 2025 5438 841 3 607 061 1 825 437 At 1 April 2024 5 285 806 3 697 498 1 576 366 The net book value Df leased assets are £52,49712024= £53,7321- 11. Stocks Group and CharSty 31 March 2025 31 March 2024 Fuel Catering Supplies 19.412 21.730 20,444 19,666 41,142 40.110 -23-
.OftNE HILL 12. Debtors 31 Mar 2025 31 Mar 2025 31 Mar 2024 31 Mar 2024 Group Charlty Group Charity Trade Debtors Prepayments & Accrued Income Other amounts owed 1,018,688 256.138 300 1,018,688 256.138 300 1,192,468 1,192,468 373,594 373,594 1.167 1,167 1,275,126 1,275.126 1,567.229 1.567,229 All amounts shown within debtors fall due for payment within one year. 13. Creditors: Amounts Falling Due within One Year 31 Mar 2025 31 Mar 2025 31 Mar 2024 31 Mar 2024 Group Charity Group Charity Trade Credilors Accruals Deferred income Other taxes & social security 278,683 62S,673 37,660 387,111 278,683 625,673 37,660 387,111 213,923 469,356 83,978 219,431 213,923 469,356 83,978 219.431 1.329,127 1.329,127 986,688 986,688 Deferred income at 31 March 2025 includes.. training fees billed in advance of £17,966 (2024- £65,558), deposits for future events of £15,890 {2024= £14,742) and other charges billed in advance of £3.80412024.' £3,678}. Deferred income - Group & Charity 202425 2023-24 Balance al 1 April Amounl released Amount deferred 83,978 183,978) 37,660 2,429 12,429} 83,978 Balance al 31 Maroh 37.660 83,g78 Creditors: Amounts Falling Due after more than One Year 31 Mar 2025 31 Mar 2025 31 Mar 2024 31 Mar 2024 Group Charity Group Charity Finance lease creditor Deferred rent accrual 122,083 914,886 122.083 914,886 122.083 936.933 122,083 936,933 1,036,969 1,036,969 1,059,016 1,059,016 -24-
ASHORNE HILL 13. Credltors: Amounts Falling Due within One Year (continued} FinanGe lease Obligations under a finance lease are secured by the related assets and bear finance charges al a rate of 312.1 /0 per annum (2023_24.' 312.10kn per annum). 2024-25 2023-24 The tot81 future minimum lease payments are payable: Less than one year Between one and five years After five years 381,635 1.526,540 14,120,495 381,635 1,526,540 14,502.130 16,028,670 16.410,305 Less.- Future finance charges {15.906.5871 {16,288,242) 122,083 122,D83 Finance lease payments represent rentals payable by the College for buildings. The lease does not include purchase optlDns at the end of the lease period. and assets must only be used in furtherance ofthe Charity's objects. The lease expires on 28" September 2067. The Company's obligations under finance leases are seoured by the lessor's charge over the leased assets. The net book value of secured assets Is disclosed in note 10. 14. Analysis of Net Assets Between Funds Group at 31 March 2025 General Funds Building Development Restricted Reserve Fund Capital Fund Total Funds Fixed Assels & Investments Current Assets Current Liabilities Long-term Liabilities 5,324,541 1,926,538 1,300,000 (1,329,127) 11,036,969) 114,300 5,438,841 3,388,488 11,329,127) {1.036.969) 161,950 At 31 March 2025 4,884,983 1,300.000 161,950 114,300 6,461.233 Group at 31 March 2024 General Funds Building Development Restricted Reserve Fund Capital Fund Total Funds Fixed Assets & Investments Current Assets Current Liabilities Long-term Liabilities 5,167,761 1,458.454 1,300,000 (986,688) (1,059,016) 118.045 5,285.806 2,920,404 {986,688) 11,059.016) 161,950 At 31 March 2024 4.580,511 1,300,000 161,950 118,045 6.160,506 -25-
SHORNE HILL 14. Analysis of Nel Assets Between Funds {¢ontinued} Company at 31 March 2025 General Funds Building Development Restricted Reserve Fund Capital Fund Total Funds Fixed Assets & Investments Current Assets Current Liabilities Long-term Liabilities 5,324,543 1,926,536 1,300.000 {1,329,127) (1,036,969} 114,300 5,438,843 3,388,486 11,329,127) {1,036,969) 161,950 Al 31 March 2025 4,884.983 1,300,000 161.950 114,300 6,461,233 Company at 31 March 2024 General Funds Building Development Restricted Reser4è Fund Capital Fund Total Funds Fixed Assets & Investments Current Assets Current Liabilities Long-term Liabilities 5,167.763 1.458,452 1,300,000 (986,6881 {1,059,016) 118,045 5,285.808 2,920.402 {986,6881 (1.059,016) 161,950 At 31 March 2024 4,580,511 1,300,000 161,950 118,045 6.160,506 15. Movements in Funds Group General Funds Building Developmenl Reserve Fund Restricted Capital Fund Total Funds At 1 April 2024 In¢ome Expenditure 4.580,511 7,801,784 {7.497,312) 1,300,000 161.950 118.045 6,160,506 7,801,784 (3.745) (7.501,057) At 31 March 2025 4,884,983 1,300,000 161,950 114.300 6,461,233 Charity General Funds Building Dèvelopment Restri¢t¢d Reserve Fund Capital Fund Total Funds At 1 April 2024 Income Expenditure 4,580.511 7,775,105 (7,470,633) 1,300.000 161,950 118,045 6,160,506 7.801,784 {3,745) {7.501.0571 Al 31 March 2025 4,884.983 1,300,000 161,950 114.300 6,461,233 -26-
'SHORkJE HILL 15. Movements in Funds (continued) Pur oses of Desi nated & Reslricled Funds The Building Reserve is a designated fund for future building projects. The Development Fund is a designated fund established to ensure that continuity is maintained by protecting resources for the development of new programmes and activities {training capability}. In line with the 2024-25 Plan the development fund was maintained at £161,950. The Restricted Capital Fund is for donalions received from Jaguar Land Rover for the purpose ol capital investment. 16. Pensions The Charily has a Group Personal per)sion scherne operated by Aviva. This pension vehicle has also been used to automatically enrol all employees of AHMC inlo a pension scheme from 1st July 2014 - this being the enrolment date for AHMC as set-out by the Pensions Regulator. Th8 total cost of employer's pension conlributions for College employees during 2024-25 was £204,134 (2023-24: £158.616). 17. Commitments under Operating Leases At 31 March 2025 the Charity had total future minimum lease payments under non- cancellable operating leases as follows: 31 March 2025 Land Other 31 March 2024 Land Other Payments within one year Payments between two and five years Payments in over five years 42,404 169,616 1,590,148 15.153 40,720 42,404 169.616 1,832,552 5,349 6,122 1,802.167 55.874 1.844,572 11,471 The total amount charged to the statement of financial activities in the year in respect of operating leases was £51,22112023-24= £42,699). 18. Capital Commitments At 31 March 2025 the Charity had capital commitments amounting to £114,285 contracted for but not provided for in these financial slalements (31 March 2024: £52,530). -27-
ASHORNE HILL 19. Subsidiary Undertakings The Charity has one wholly owned subsidiary company, Ashorne Hill (Trading) Limited, which is registered in England and Wales (registered company number 5335543}. The company arranges conferences and events as delegated by the Charity, in accordance with an operating licence held by the subsidiary. An administration charge is made by the Charity to the subsidiary for Ihe use of College resources in accommodating and rnanaging the events. This is disclosed in note 7. The company gift aids all Pfofits lo the Charity and a summary of the financial results is shown as follows.. Income and Expgndlture Account {£} Turnover Operating costs including adminlslration charge 2024-25 203.843 {26,679} 2023-24 160,249 (21,7951 Operating Profil 177,164 138,454 Profil for the year 177,164 138,454 Gift Aid donation to parent undertaklng (177,1641 {138,4541 Retained in subsidiary Balance Sheet 31 Mar 2025 31 Mar 2024 Current assets Nel assets Called up share capital Profil and loss account Shareholders, funds -28