ASHVILLE HARROGATE Ashville College Report & Consolidated Financial Staternents Registered Charity: 529577 For the Year Ended 31 August 2021
Contents Govemor5, officers and advisers Report by the Governlng Body artin8 as trustee for the charity, A5hville College Statement of the Governing Body's responslbllltle5 Independent auditor's report to the Governing Body las Trusteel of Ashvllle College Con5015dated statement of financial actlvitles 20 21 22-24 25 Balance sheets 26 Con501idated cash flow statement 27 Notes 2846
Governors, Officers and Advisers GOVERNING BODY The Governing Bodyof the charity duringtheyear has been Ashville College Trustee Llmited,. the Directors of A5hville ColleEe Trustee Limited are referred to as'Governors' or members of the Governin8 Body. The Dlrertor5 who held office during the perlod werè as follows.- James C. Search * 4 lan Brown Simon Donkln ' Jèremy C. Henderson LLB" David Humphreys Peter G. Ingham ' Dr Suejacklin Paula Jackman ARB, RIBA Revd Leslie Newton Michelle lofthouse Chrlslopher Mldglev Chair Deputy Chair Retired 3 july 2021 Retired 3 July 2021 Resigned 11 December 2020 Deputy Chalr (from September 20211 Jerome Saint.Mar¢ Nlcola Stamford Anne Vautrey l. Peter Whlteley FCA *' Tony Winfleld ' John Wood Jonathan Oxley Resigned l October 2021 Reslgned 3 July 2021 Appointed 3 July 2021 Appolnted 5 December 2020 Old Ashvllllan Dlrector of A5hville fradlng Ltd None of the Dlre¢tor5 had a beneficial Interest In any contrart to whlch the company was a party durln8 the year, except as distlosed In note 25. OFFICERS {Key management personnel) Richard Marshall BSC, Msc Head Elspeth Flsher BSC Actln8 Head Deceased 30 November 2020 Appolnted I September 2020 Resi@ned 31 Au8USt 2021 Apptrinted I September 2021 Rhiannon Wllklns¢)n MA (Oxonl MEd Helen Alndow BA, ACA lan Kendrick Owen Hillier Anna Wilby Laura Jackson Head Clerk to the Governor5 & Bursar Deputy Head IAcademicl Deputy Head (Academic) Deputy Head IEnrlchmentl Actln8 Deputy Head (Pastorall Resigned 28 April 2021 Appointed I September 2021 Appointed I September 2020 ADVISERS Audltor Saffery Champnèss LLP Mitre House North Park Road Harrogate HG15RX Sojlcltors Schofield Sweeney LLP 76 Wellington Street Leeds Lsi 2AY Bankers Lloyd5 Bank 8- 11 Cambrldge Crescent HarroBate HGI IPQ
Annual Report of the Governing Body arting as trustee for the charity, Ashville College, for the year ended 31 August 2021 Ashville College Trustee Limited as the sole Trustee of Ashville College, presents its annu01 report forthe year ended 31 August 2021. together with the audited financial Statements for the year, and confirms that the 13ttei complv with the requirements of the Charities Act, the Trust Deed and the Charities SORP IFRS1021. OBJEcfs, AIMS AND OBJEcfivES AND AcnviTIES Charltable ObJects The Charity's primary oblect, as set out in its Trust Deed, is the advancement of educatSon, Including the provision of boardin6 and day schoolin8 for boy5 and girls within the context of its status 35 3 Methodlst School. The Charity also has to maintaln its herlta8e endowment, which includes the Colle8e buildings and environment. Alms and Intended Impart Wlthin these objects, Ashville College's aSm Isto be recoBnised as thè5chool of cholce In the Harrogate area to realise academlc abilitie5. nurture individual talents and develop all-round character, in a cllmate of positive expeclatlon and within the Methodlst traditions of the College. Prlnclpal Actlvltles In the Y¢ar The Charity prlnclpally provldes educatiors in Harrogate to boys and 8lrls from the ages of 3 to 18. Oblectlves 2020121 was the thSrd year of a three-year Strategic Plan12018- 20211. The over-riding prlnclpal of the strète8y 15 that A5hvSlle 'will strlve to dellver excellence teachlng and learning every day and in every classroom, IncludlnB promotlng data drlven lessons and inteNentlons". Academl We wlll ensure that puplls, aca(Jemlc achlevement15 rated 'excellent' atlhe next ISI Inspection. Thls mean5 that teachln8 and learnln8 wlll be excellent every day and In every classroom.. al Ensure that at least 90% of lesson observatlons are rated'5ecure' or'hl8h lrnpactr. bl Use acèdemlc datè a5 a tool for measurln8 and monltorlng pupll performance and tar@etin8 Intervention. cl Implernent an effective teacher CPD programme that has real Impact In the cla55roorn. Enrkhment We wlll enhance the exlstlng enrlchment pro8ramrne, notlng that enrlchrnent is key dSfferentl3tor for A5hvllle. At ihe next Inspectlon we will be rated 'excellenf for pup115' personal development: al Introduce KPIS to measure partlclpatlon In and Impact ol the enTlchrnent pro8r3mme. bl Introduce a 5taTrdalone enrichment proBramme for all puplls to complement the academic programme. tl Develop a successful Oxbrldgel Early Entry programme. dl Introduce a Comrnunlty Engagement Prograrnme. el Ensure that SPDrt and PE is, and Is seen to be, a posRTrve experience for all puplls and somethin8 that differentiates Ashvllle. Pastoral We will be 3 school where pastoralre proartivelyand posthelyenhancesa pupll's academk performance and personal development= al Ensure on-gcing compliance with all regulatlon and best practice. bl Introduce a pastoral scherne of work that helps pupi15' develop the key skills of independence. 5]1&ence personal arnbition and aspiratlon. and 5UPPOrt5 the academic tèr8ets.
cl Have a pastoral system that ensures Èxcellent pastoral care of young people. but also facilitstes effective and time communlcatyon with parent$. Boardlng Continue to focvs on and Increase numbers in ording.. al Move lorwaTd with the work already undettsken looklng at the eK15tlng bl Revlew the recruitment proce55es for boarders and explore how we c3n increzse rectuitment in a sustalnable rnanner. £1 Minimlse the rellance on existlng recrultment markets. IT We will ensure thatthe College ha5 a safe and robust ITlnfrastructurethatfacllltat@g the effectNe use of ICT In leaching and learnin8, and a productlve working environrnent for staff and pupils.. al Routinely use I In the cla$s¢oorn to PDsltively benefSt teachlng and learnlngand to give puplls opportunitSes to improve thelr IT skills. bl Implent systems that support productlvfty, collaboratlon, communScatlon and project management for both teachin8 and fion- teachlng staff. Campus We w*ll contlnue to Invest In the campus to ensure that we have facllltles that meet our ambttion to be o leadlng 21st Century learnln8 envlronment. Thls include5 the following.. al Complete refurblshment of the dlnln8 room over two phpses Summer 2019 and Summer 2021. bl Plan for the future of the Bowlck bulldlne. cl Create a rollln8 malntenance plaTh to ensure the effettive upkeep of our dl Contlnue to ensure Heatth and Safety standards are consistently met and Health and Safety15 fundarnentally embedded Into the culture of tht College. Op•r4tlons and Compllènce We will Invest In the prolesslonalisatlon of the operatlons, to ensu best practlce nd Eompllance In all areas.. al Ensure approprlate professional expertlse 1$ retsined where requlred. bl Ensure compllaffleo15 malntained In 311 relevant areas, Including ernbeddln8 a culture ol best practlce aroijnt4 compllance and dats protertion across the College. cl Explore areas to generate more free oshflow. to protect the Colle8e's abllity to invest In the future.
Annual Report of the Governing Body acting as trustee forthe charity, A5hville College, for the year ended 31 Au8USt 2021 (continued) STRATEGIC REPORT It is Smportant to note that the Coronavirus p6ndemic had an impact on the strategic work accomplished by the College in the year due to the need to react quickly and tactically to the ever changing demands of thÈ situatlon. The Sprlng term was dominated by remote learnSng. A¢hlevements and Performan¢e The achievement and performance agalnst the goals for 2020121 were as follows: A renewed focu5 on the latest pedagogy with the introduction and Implementatlon of new Golden Rules for teachlng at Ashvllle. These set out tlear prlnclples which are the foundation of excellent classroom practlce and are informed by research 5tudles. A continued focus on providln8 a knowledge rlch and dSverse curriculum has been seen in the revlew of curriculum Intent in a number of subject area5 under the guidance of the Asslsiènt Head Teacher for Teathlng and LearnSn8. A new quallty assurance 5VStem has been establSshed wlth a focus on staff development and accountablllty for the dellvery of hlgh quallty lessons. A new marklng and feedback policy ha5 been Introduced to ensure that all pupils recelve and respond to Indlvldual feedback in order to enhance their academic progress. The Enrl¢hment programme was reviewed and after consultatlon, decislons were mode to relaunch and rebrand In the 21122 acadernlc year. Itls now the Co-curricular programme. A new Director of Sport began to create a rnore incluslve culture In the Sports department. A review of the monlttsring of exhlbltloners and scholars took place wlth clear guldelines put In place for the 21122 academic year. A Year 7 values passport was designed to encourage partlclpatlon in Co-currlcular a¢tlvltles and awareness of transferable skllls. Pastoral A new kindne55 8roup was estsbllshed to promote"Bee Kind" and to positively engages students around anti-bullying. This Includes Year 13 peer mentors for younger students and anonymous forms/sugBestion boxe5 so all student5 can have thelr gay. Focus group meetln8S Wlth each year group have been set up to gather information to provide further support around mental health, at3demic5 and generally in ordei to facilitate post-lockdown learnin8. Flourishlng@A5vhille has been set up to deliver PHSE in a p051tive and eftgaging way tQ support puplls development into fully-rounded. productive and happy membws of society. This includes academic tutorln& wellbeing, relationships and sex education and charity work. Si8nificant work is continuing on behaviour, including updaiing the policy, tutor work, assemblies and home contart.
Annual Report of the Governing Body acting as trustee for the charity, Ashvllle College, for the year ended 31 August 2021 (continued) rdln A dedicate Head of BoardSng for the College was appointed in Septernber 2020. Boardlng pupils returned to the College in mid-August to allow for a iwo week period of self-i501atlon before the start of the Autumn Term. am Refurblshment of the dlnlng room The first phase of the dining room refurbishment was completed In the Summer of 2019. Phase I consisted lar8ely of an extension to the èxisting dinlng room in order to locate new equipment and increase the capaclty of ihe dlninB spa¢e. The second phase was originalty scheduled for the Summer of 2020. wlth a re- fit of the kitchens and modernisation of the equlpment. Due to the restrlctions imposed by Coronavlrus this wa5 delayed to the Summer and Autumn of 2021 and It was completed In November 2021. Refurb15hment of the swlmmSng pool Work to refurbish the swimming pool was completed In the year. Thls work included essentlal work on the plpes, the lining and surround of the pool. Plan$ for ihe Bowlck bulldln The Bowlck building houses the Food Technology, Rellglous Studles and Bu51ness departments and ¢urrentlv has temporary planning permlssion to October 2022. A 5 year extenslon to the temporary planning permlsslon was obtalned durln8 the ye0r.
Annual Report of the Governing Body arting as trustee for the charSty, Ashville College, for the year ended 31 August 2021 (continued) STRUCTURE, GOVERNANCE AND MANAGEMENT Governlrk8 Document The Charity is governed by its Trust Deed datin8 from 1903 and last amended in 2004. Govemlng Body Ashville Collège Trustee Ltd Is the sole trustee of Ashville College. The Directors of A5hville College Trustee Ltd. as set out on page 3, are referied to as the 'Governor5'. The College Is an aSSOCiaie member of the Methodlst Independent Schools Trust IMISTI.. however, Ihe Ashville College governing body 15 independent from MIST. Appolntment and Tralnlng of Governors The Trust Deed allows for a maximum of 18 Governors- x-officlo Dlrec There are thiee ex-officio Dlrertors- The Chair of the Yorkshire North and East Dlstrlct of the Methodlst Church,. A representatlve of the Methodlst Independent Schools Trust (currently the Trusvs General Secretaryl.. and The Presldent of the Ashvllllan Soclety. There are te1ve nomlnated Directors, whose appolntment Is confirmed by the Methodlst Conference: Ten are nomSnated by the Board of Dlrectors,. and Two are nominated by the Methodlst Independent Schools Trust. There are three co-opted Dlrectors. The appolnlment of a ¢o-DPted Dlrector Is for a speciflc period, not ex¢eedSn8 three years. On at) annual basls, the make up Lin the Governlng Body Is considered by the Governance & Nominatlons Commlttee. Nominated and co-opted Directors a then appolnted to the Board of A5hville College Trustee Limited on the basls of nomination5 and appllcations recetved from a wlde ran8e of sources. Eli8Sblllly. personal competence, specialist ski115 and availabllity are a55essed by the Governance & Neminations Committee before belng considered for electlon by the full Governing Body. New Governors are inducted into the working5 Of the Charlty and its School, including pollcy and procedures, through vi5Its to the s¢hu)gl,' meetln8S Wlth the Headmaster. Bursar and Chair of Govemors; and, the provision of handbooks and similar literature. All Governors receive Informatlon on, and are encouraged to take up, training Opportunities. A re8lster of Governor tralnln8 is maintsined.
Annual Report of the Governing Body acting as trustee for the charlty, Ashville College. for the year ended 31 August 2021 (continued) Governan¢e Ashville College Trustee Llmlted, through It5 Board of Dirertors, is legally responsible for the overall managèment and control of the entire College and meets at least three time5 a year. The work of Implementing most ofits policies is spread been three sub-committees. Thls strutture is set out below. Fln¥n£e & Gener•1 Purpos¢5 Commltttè Meers twlte perterrn to.. monitor the fton-teachin8 funttiofjs of the College, includin8 estates, buildlngs and land, transport, cloanln8, caterin& human fesources, ITand health & safety., revlew the financlal statements and yrfofmance against agreed bud8ets.' scrutlnyof the anntsal accouTrts antl the annual budget befo presentatlon to the full Governlng Sody,. cash plannlng and control of assets,. overseeln8 borrowings. bank Joans, antl investments,. $¢rutlny of tapital e¥pendlture Tequest5 and finanelal prolectlons re8arding the strategic development plan,. and ensurlng implementatlon ol sound Internal financlal contrgls and prOdreS anil revlew of all flnarKlal regulatory requlrernents. Educitlon, Enrlchm•nt & Welfar• Commltto• Meets twice per term to.. determine, lrnplement and sustaln the formal and Informal currlculum for the three schools makin8 UP the College,. malnialn and, where po555ble, Improve thè Standards of puplls, a¢ademl and the other achievemenis.. and ensure the coherence ef both the pastoral and currlculum phllosophies throughout the school, to ease pupils, passage from key Stage and from c13SS to class throuBhout the College. fjov•rn•nc• & Nomln•tlons Commltt¢e Meets each term to.. review and èpprove pay rlses and rnovements up thé leadershlp scale for key managernent., act a5 a nominatlon5 P3nel for new Governors,. and tske the lead In the appolntment of senlor managernem a5 and when requlred. All sub-committee5 are chaSred by a Dlrector, wlth membershlp embraclng a combination of Governors and appropriate members of senior management. At every meeting Governors are asked to disclose any conflict of interest,. every agenda also Sncludes safeguardln8 as a standing Item. Revlew ot Governance The Board undertake5 annual self-review. indudin8 a revlew of the Board's skill mlx and diverslty. Thls 5elf-revlew Is undertaken by the Governance & Nomination5 CommSttÈe. The Board has a8reed to appolnt an independent, external revlewer to evaluate the effectiveness of the Board on a flve yearly b65i5. The flrst such revSew was undertaken by the Associatlon of Governing Bodies of Independent Schools I'AGBIS'I in Summer 2018, wlth the next evaluation due in 2023. Charlty Governance Code Good governance in charitie5 15 fundamental ro their succes5. A charity is best placed to achlove its ambition5 and ims if it has effective governance and the right lea¢fer5hipstru¢tures. For thls rea50n. the Governors are committed to achievin8 the retornmended practices descrlbed in the Charity Governance Code. The Code is deliberately aspirational and It Is not envisaged that tharltSes wlll fulftl all of the principles immedlately.
Annual Report of the Governing Body actlng as trustee for the charity, Ashvllle College, for the year ended 31 August 2021 (continued) Havin8 considered the Code, the Governors believe that they have not fully applied the followln8 principles that aTe set out in the Code.. al Slze of Board.. The Governance Code suÉÈests a board of between 5 and 12 trustees is consideled best practice. A5 part of the Tevlew of governance undertaken in 2018, the Board considered its Current membership and agreed that the Size of board was appropriate for Ashvllle. A board of up to 18 people ensures that the board has a broad range of skills and expertise, and also 15 of 5uffl¢lent Size to represent the charlty's various stakeholders. bl Len8th of SeNlce: Govemors are appolnted for a perlod of thiee years, but are able to be re-elected at the end of thelr term. There are some Governors who have se¥ved for more than 9 years. The Board bellève5 that having a small number of Governors who have served for more than 9 years prov5des useful 'institutional Memo for the Board wlthout darnaging the need to progressively refresh the Board. Where a Governor who has served for more than 9 years Is re-elected their re. appolnted is revlewed by the Gove¥nan¢e & Nominatlon5 Committee. cl Dlverslty: While the Governors have takeh Informal step5 to ensure that the Board Is made up of Indlviduals wlth 0 dlverse lange of skllls and backgrounds, and a150 is representative of the College's varlou5 Stakeholder groups Iporenls, Old Ashvllllans, the Methodlst Church) without loslng its independence, the Board does not yet have a formal dlverslty plan. Such a plan wlll be drawn up by the Governance & Nomlnaticns Commlttee during the course of the year. io
Annual Report of the Governing Body acting as trustee forthe charity• Ashville College, for the year ended 31 August 2021 (continued) Or8ani5atlonal ManaBement The day to day running of the schools is dele8ated to the Head and Bursar of A5hville College. who are sUPPOrted by the Executive Leadeishlp Team IELTI- The Head andlor the Bursar attend all Govemor sub-committèe meetlngs. The key management personnel are deflned as the Head. the Deputy Hèad (Pastorall, Deputy Head (Academic), Oeputy Head (Enrichmentl and the Bur5ar,' all of whom have responsibility for planning. directlng and Controlling the artivitles of the school on a Colle8e-wide basis. The remuneration of key management personnel is set by the Govèrnin8 Body. wlth the polity oblectlve of providin8 appropriate incentives to encourage enhanced performance and of rewardlng them fairly and responsibly for thelr Individual contribution5 to the Colle8e'5 SUCCeSS. The approprlaiene5s and relèvance of the remuneration pollcy Is revlewed annually by the Finance & General Purposes Committee Includlng reference to comparisons with other independent Schools to ensure that the College rema5ns 5ensitlve to the broader Issues of pay and employment condltions elsewhere. We alm to recrult, subject to experlence, at the lower to medlum polnt withln a band, providlng scope for rewardin8 excellence in fijture years. The Governing 8ody reco8n15es that dellvery of the College's charitable vlsion and purpose Is primarily dependent on our key management personnel and staff Costs are ihe lar8est sin8le element of our charltable expendlture. Group Strurture and Relatlonshlp5 The Charity ha5 a wholly owned, non-charitable subsldlary* Ashvllle Tra(41ng Limlted. The maln actlvltles of Ashvllle Trading Llmited are operatin8 Nshvllle 5port5 Centre.. mana8ln8 resldentlal and non-resbdential lett5ngs of the ColleBe's facllltles and the commerclallsati¢n of the College's Intellettual propertythrough a partnershlp with a 8roup of schools In Hon8 KonB and China. shvllle Foundation15 a separate ¢harity, whose purp95e is to provlde bursaries and other finandal support to current and prospective pupils of Ashville who would not otherwlse be able to attend the College. There Is a close relatlonship between the College and the Foundatlon wlth a number of Governors also belng Trustees of the Foundation. The College also beneflts frorn the generoslty of a thriving network of former pvpi15, The Ashvllllan Soclety. The Governors greatly appreciate and Bladly 3cknowled8e the close support of thls body. li
Annual Report of the Governing Body acting as trustee for the charity, Ashville College. for the year ended 31 August 2021 (continued) PUBLIC BENEFIT In setting our objectives and planning our artlvities, the Board has given careful consideration to Section 4 of the Charities Act 2011 and the Charity Commission's guldance on publc benefit and, in particular, to its supplementary public beneflt 8uidance on advanclng education and fee-charging. The College audits and reports on Its public benent boTrth in terms of actlvlty and monet3ry value on an annual ba51S,' this report 55 considered by the Governlng Body on an annual basls. misslon The Charity's primary objective 15 the advancement of education for boys and girls in Harrogate- therèfore. the main way thai the Charity fulfils its public benefit 15 through admissions into the Colle8e. The Governors are cognisant of the fart that the flnancial cost OF Independent education is an Impediment to some children attending Ashville, therefore the College strlves tc ensure that It remains accessible to as wlde a range of famllles as possible,. this is achleved through the provlslon of direct finantial support by way of bursarles and a fair admlsslons process. Ashville College welcomes pupils from all backgrounds. The Governors want to ensure that potent131 puplls wlll beneflt from the educatlon the College provides and e?n Cope with the pace of learning.. hènce entrance Interviews and asse$5ments are undertaken prlor to a place being offered. However, an indlvidual's economlc 5tatU5, gendèr, ethnlclty, race, religSon or disablllty do not form part of thls assessment process. The Governors are also commltted to broadenlng access to the College by offerln8 means-tested financlal support to eligible parentslguardlans. Such support Is known as a bursary and these are awarded In the form of a discount on fees dependln8 on the flnanclal, compassionate or other perrlnent clrcumstances of appllcants. The bursary awards range from 10 per¢ent to 100 percent rem155lon of fees. Our bursary award9 are avallable to all who rneet our 8eneral entry requlrements and Informatlon about bursarles Is made avaSlable to all applySn8 to the College and Infofrnatlon on bursarles Is avallable on the Collcge webslte. However, the College does not have a large endowment and must ensure that there Ss a balance between fee-payin8 parents, many of whom make con51derable personal sacrlflces to fund thelr child'5 educatlon, and those benefltlng from the awards. In additlon to bursarles, scholarshlps are awarded to recognlse hlgh academlc polentSal or the ability to excel In other areas of the College, Including 5PQrt, drama and mu51c. The Governors have a deliberate pollcy of reduting the financial dlscoynt a550ciated wlth scholarships and directing th15 savln8 Into bursary funding. This year, the value of "normal" li.e. non-coronavbrus relatedl s¢holarshlps and bursarles ma(le to the schools, puplls totalled EO.9m, being 6.9 per cent of gross fee51£l.Om 2020 being 8.2 per cent of gross fees). 213 pupils12020'. 2601 benefitèd from some form of discount agalnst iheir fees in 2020-21, 1 of these were for 100% boardlng bursarles and 7 wwe for 100% day bursarles. I new bursary was granied in the year, at 50% value. ort durin he Coronavlr The Co51e8e remained commltted to continuin8 to prciwide 5UPPQrt to Ashville faMIle$ as the impact of the Coronavirus pandemlc continued to be felt in the 20121 school year. The lockdown in November 2020, the tler 3 restrlctlons in parts of Ashville's catchment area and the further lockdown and closurÈ of schools on 5 January 2021 resulted in further financial hardship for a number of A5hvllle families, outslde of the"normal' levp15 experlenced In years prior to the current and the prevlous year. Following the Closure of the school in January 2021 the College immediately moved back to online learnln8 and committed to a 7.5% dlscount agalnst day fees for students, which is rec#gni5ed as a direct reduction against the Bross fees receivable line. Paients were again encouraged to contact the College directly in the case of more signlflcant financial hardshlp. leadlng to the need for additional financial support. Throughout 2021 the College supported 22 puplls from 16 families. for a total of £38k throuEh the provision of temporary bursariès ranging from 3%- 60% lin addition to the 7.5% discoufit provided to pupi15 for the Sprlng Term and, in some cases. exlstlng bursary support). These temporary bursaries were funded through the Ashville Foundation, which received generous support from parents and Old A5hvillians totalling £17.6k in the year. The 12
Annual Report of the Governing Body acting as trustee for the charity• Ashville College,
for the year ended 31 August 2021 (continued)
College also donate
Annual Report of the Governlng Body actlng as trustee for the charity, Ashville College, for the year ended 31 August 2021 (continued) One of our 51Xth form pupils is a Youth Panèl member fof charity Action for Stammering Children, and continues to campaign tirelessly to Improve servSces and opportunitie5 fcir children and yOUn8 people with a stammer. He recently became one of only five youn8sters from the UK to become a global wlnner of the inau8ural Rise Challenge, which was launched by a former Google CEO lo support exceptlonal young people in the service of others. Additionally. the Colle8e has been thanked by the Duke of Edinburgh's Award scheme for the volunteering efforts of its Bronze Award puplls. Between April 1, 2020. and March 31, 2021, the pupils spEnt 299 hours volunteering- Wlth an estlmated social value of £1,360 Harvest Festival and Christmas food donations to Harro8ate Food Bank and the Harrogate Homeless Prolect have been heartily supported by pupils and parents Oatlands Communily Group recelved handmade Easter cards from ourlunSor boarder. o Unused sports klt donated to Care4Calals, a volunteer-run refugee charity that helps refugees Sn France and 8el8ium 14
Annual Report of the Governing Body arting as trustee for the charlty. Ashville College, for the year ended 31 August 2021 (continued) FINANCIAL REVIEW AND RESULTS FOR THE YEAR Feè in¢ome Fee income this year Increased by 1.0%, moving to £12.72m from £12.65m in the prior year. Normal fee discounts redd In % terms to 6.9% of gross fee Income, from 8.2% in the prioryear. Note. these are-normal" fee discounts that do not relate to Coronavlrus lor other signifi¢ant, temporary flnancial hardshlpl related bursaries. which are funded ihrough the Ashville Foundation. These bursaries are shown in Ihe restrieted funds Ilne, and totalled £38k in the crrent year, compared to £57k in the prevlous year. An addltlonal discount of 7.5% against day fees during the january 2021 lockdown and c105ure of schtsols, is recognised as a direct rèduction to gross fees, compared to the equivalent discount of 20% against gross fees in the Initlal 2020 lockdown and school closure. In recognition that the economic lrnpact5 of the Coronavlrus pandemlc and lockdown5 Is likely to be felt by some of our families for a number of years mtsre, the College ha5 donated £IOOk out of 20121 surplus to the Ashvllle Foundatlon, In oTrrder to fund ongolng bursaries. Thls Is In addition to the £200k donatlon that was made out of 19120 surplu5. Th15 is in recognition that while the school was c105ed during the January lockdown It was able to financlally Insulate itself using furlough and cost 5avlnES relatin8 directly to the school buildin8s being closed. These cost savlng opportunities are not expected to be available going forward and therefore the donatlon has been made to ensure that the school Is able to support students who need It In the 21122 flnancial year and beyond, through use of the A5hvllle Foundation. Other Income Other Income is made up of £112k of furlough grants from the Government, this compares to £421k received In grants In the previous year. Though the ColleBe wa5 able to make Bood use of this scheme In the Spring 2021 lockdown, the Brants received were not as signlficant as in 2020 as the College remalned open for sl8nlficantly more key worker puplls durln8 Sprlng 2021, leadln8 to hiBher staffin8 requlrements than In the 2020 lockdown. The remainder of other Income relate5 to rental income on owned pfopertles and small Incldental recharges such as musical Sn5trum¢nt hlre, blazer sales and travel Income. Tradlng Income and expenditure w511 be covered later In thls sectlon. Expendlture Expenditure on charltable actlvllies decreased by 2.0% In the year to £12.2m 12020: £12.3ml. Please note that 5avin85 throuBh furlou8h are recoBnised throuBh Dther income as outllned above, not as a direct reduction aBainst C0515: Teachlng costs remained largely in line with prior year, wlth a slight reductlon of 0.1%., Welfare costs Increased by £296k121.4%1. Thi5 15 followlng a reduction in 2020 of £477k Icompared to 20191, which was due to the full benefit of the Government imposed closure of the College lÈadin8 to no requiiement for catering between closure and thè full re-opening of the ColleBe for thè Autumn 2020 Terrn and the savln8 of other welfare costs during the perlod the bulldin85 were closed. The increase in the current year reflect5 the shorter period in 2021 dur5ng whlch the College was closed. It is still slgnlficant reduction compared to'normal" years, and is subsequently £IBlk19.7%1 lower than in 2019; Premlses costs have reduced by £64k16.3%1 due to a one off £iiOk spend on the refurbishment of Mallinson House (Senior boy5 boarding housel in the Summer of 2020. offset by a reduction in the c05t savings realised due to the school building5 belng clp5ed in the current year compared to the prior year. More key worker children remained in school during the Spring 2021 lockdown. compared to the 2020 lockdown, meanlnÈ that the full savings resultSn8 from c105ure of the buildings in 2020 were not realised in 2021 to the same extent,. Support costs have remained lar8ely In Ilne with prior year, due to a continued spendin8 freeze in support areas of the College,. Depreciation remalned larÈely in line wSth prlor year, with a slight reduction resultlng from a55ets coming to the end of their depreciation period; and 15
Annual Report of the Governing Body acting as trustee for the charity. Ashvllle College, for the year ended 31 August 2021 (continued) Finan and other costs have reduced by £120k169.8%1 due to a more prudent approath taken to the bad debt provSslon in the prior year1£52kl and the Subsequent release as the debt was then wrltten off in the current year of £40k. Fee debt Fee debt reduced this year to £82k at the year end12020: £123kl,' equivalent to 0.7% of net fees receivable in the year12020.' 1.1%). The specific provision against fee debt was also reduced to £65k in the yÈ3r12020'. £106kl.' thS51s made up of only a very small number of individuals who the College contlnues to pursue. Capital eXpendUre Capital expenditure was £827k in the year12020.. £548kl. This related to £448k for Phase 2 of the dining room project which was delayed from the Summer of 2020 to the Summer of 2021 due to Coronavirus restriction5. The work continued beyond the Summer and therefoie the capital expenditure related to the dining room 15 feco8nised as an asset under the course of construcrlon. Further spend related to £143k to Completethe works t¢ the swimming pool, whlth were 5taTted in the Summer of 2020. There was also continued investment in the IT Infrastructure, includlng dlsplay 5cTeens, wireless infrastrutture and computers for staff and pupil use1£81kl. Borrowln85 At the year-end total borrowing was £1.5m12020'. £1.8rn1 wlth Lloyds Bank plc. The loan with Lloyds Is repayable to March 2027 and 15 on a fixed rate of 3.49%. It Is secured on tw¢ resbdentlal propertie5 owned by the College. The College's other borrowlng5/obli8ations relate to.. A £IWk loan from Holroyd Howe, whlch Is repayable over the ten year5 of the contract ending March 2028. At the year end the total balance outstanding was £62k. An obll8ation aBalnst a capital draw down tsf £268k from Holroyd Howe. As part of the contract between Holroyd Howe and the College, Holroyd Howe will make a £500k capltal contributlon to the College. The College has drawn down £321k against this, bul Is obliged to remaln in the contract with Holroyd Howe untll the Contract end date In March 2028, therefore the draw down ha5 been reco8ni5ed as a Ilablllty on the balance sheet and will be released to the SOFA in accordance with the terms of the contract., Ihe balance at year end was £268k, and £165k finance lease obll8ation for the investment In IT equipment. Ashvllle Tradln8 Llmlled A5hville Trading Ltd made a proflt of £86k In 2021 followlng a loss In 2020 of £19k. The profil wa5 prlmarlly due to payment of a £IOOk Insurance claim for busine55 interruptlon caused by the pandemi¢ durinB 2019-2020. Sports Centre The Sport5 Centre reopened to faclllty bookings In Sept 2020, but was c105ed In both November and from January through to April durlng tho Government lockdowns. Membershlp fees resumèd from April throu8h to the year end, some loss in revenue was oftset by furlough grants and cost savings resulting frorn the closure of the buildings and Lettlngs Lettin8s bookings postponed from 2019-20 returned to thè Ctrlle8e in Summer 2021. The Colle8e dld not charge rent to Ashville Trading for Six months of the year durlng the periods of closure to members. This led to a Saving of £25k in Ashville Trading. Government grarrtS Ashville Trading received £45k in furlough grants from the Government to counteract some of the impact of Coronavlrus12020.. £78kl. 16
Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2021 {continued) Ashville Trading Limited has negative reserves of £lk in 202112020.. £87kl. Forecasts indicate that Ashville Trading Limited will be profitable golng forward, and therefore the expectation is ihat profit in 2022 will brlng hvIlle TradlF)8 Limited into positive reserves whlch will allow a gift aid donatlon to be made to Ashvllle College. Purpose of A5hvill• Tradlng The purpose of Ashvllle Tradln8 Llmited is to utlllse the facilitles and intellectual property of Ashville College in order to enhance lives in the wlder communitythrough educaiion and enrichment. At A5hville and around Harrogate many people appreciate the excellent educational and enrichment work that help5 pupils thrive at Ashville Colle8e. Outside the dally school life, Ashville Trading enga8e5 in è variety of act5vlties which open the faclllties and opportunlty for learning and enjoyment to a much wider audience at horne and abroad. These activitles not only benefit the participants but Ashvllle as a whole by raisin8 the profile of the College to support recruitment, particularly of boarders, and raise funding to support Investment in ColleBe resources. Some also provlde personal development opportunlties for College staff. Due to the Coronavirus rè5trlctlons in the flnancial year a number of Ashvllle TradlnB'S usual activltles were on hold al variou5 poSnts In the year. The examples below were eilher completed before the Coronavlrus re5trictlon5 were put In place, Contlnued In a Covld-5ecure manner, or were delayed uniil after Coronavlrus restrlctlon5 were lifted.. For the very youn8ert A5hville swlm schools- vStal Ilfe 5kllls for chlldren Chlldren's partSes in a fun and safe envlronment Klnd Hing Ashville Internatlonal Kindergarten, Lantau Island, Hon8 Kong Bulldln8 ¢onfldence, teamwork and Indlvlduallty Introduction to and bullding skllls in a wlde range of sport5 Summer camps- day ènd resldential artlvlties. PromotlnK Health and Wellbeln8 Sports ntre membershlp for staff and the publlc Range of 8roup exerclse classes for all abilities On-slte access to physio and personal trainers Hostlng community and sporting events Audltorium for speclal events for up to 600 Guest presenters Harrogale Film Society Dance, choral and stage performance 8roups Book launches 17
Annual Report of the Governing Body arting as trustee for the charity, Ashville Colle8e, for the year ended 31 August 2021 {continued) Rlsk Management Ashvillè College Trustee Llmited, via its Board, 15 responslble for the management of the strategic and operational risks faced by the College. The full Governing Body review the risk register at the December board meetin& and thls risk register Informs the strategic and operational plans for the year ahead and the next 3 to 5 years. The major rlsks Identified by the Governors are: Continued impact of the Coronavirus- on health and the economy,. Academlc underperformance,. Dèpendence on US puplls,. Impact of Brexit,. ChanEe of taxation of independent schools,. A Labour Governrnent,. Furthèr increase5 to the Teachers, Pension Scheme Employer Contribution., Cyber-se¢urlty and data-protectlon breaches,. Building fallure,. and A failure of the College's safeguarding pollcles and procedures. Having IdentlfTed these as the malor risks, the Governors and College management have put strate8les in place lo elther eliminate ihese risks, or to mlnlmise their potentlal Impact. The measures put In place to mltl8ate the Identified rlsks Include.. Comprehenslve plannln8 and budgetlng process to ensure resources are approprlately allocated,. Monthly (leW of flnancial statements by College management and Governors; Formal written policies, In¢ludln8 thorough policles and precedures relatln8 to safeguording and data proteetlcjn,. On-80in8 pro8rarnme of professlonal development, Includlng safeguardlng and data protertlon tralnin8 for all staff,. Well deflned and agreed targets and oblectlves for senlor mana8ement and staff,. Appolntment of professional advisers as required,. AppolntmÈnt of an external data prc*te¢tion officer,. Comprehensive insurance coverage,. Formal disaster recovery policles and procedures Iwhi¢h are perlodlcally tested); Frequent finantial 'what-If modellin8 considered by College management and Governors,. Well-developed plans to increase the number of boarders and 6, Form pupils- and Process of continu31 sÈlf-review and strategy revlew by the College management and Governors. Through the risk management processes established for the College. the Board 15 Satisfied that the major rlsks identified have been adequately mitigated. It Is recognlsed that 5VStems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Governors regularly review the effectiveness of current plans and strategles for m3nagFng all identlfled malor risks for both the College and its subsidlarles.
Annual Report of the Governing Body actlng as trustee for the charity. Ashville College, for the year ended 31 August 2021 (continued) Reserye5 Policy At thè year end the College had unrestricted funds of £17.Im12020: E17.Iml. As the value of tanBible fiKed a5setS Is £20.6m12020.' £20.5ml the College technically does not have any free ieserves. The Governors alm to reduce this Shortfall over timè.. but, having reviewed the Cglle8e's funding posititsn, the Governors do not believe the shortfall represents a slgnificant risk and are confident that the College has adequate resource5 to maintaln the day-ttrdav operatlon of the charity. It is the Governor5, policy to generate a modest surplus of Income over expenditure each year to safeBuard the future of the College and to fund working capital movemènt5. The Governors aim to generate an -investment surplus" (defined as surplus on unrestrirted funds before depreclatlon but excluding the profit or loss on the disposal of flxed assets) in excess of IO% of net fee income, This yèar the investment surplus was £854k17.2%1 and therefore the target was not mèt. The Governors are comfortable that the reason the target was not met was because of the support provided In year to famllies due to the Coronavlrus lockdown through the 7.5% dlscount against fees during the Spring Term lockdown, and the donation of £IOQk to the Ashvllle Foundation in order to provide fuiure support aBalnst hardshlp In the comin8 year. The Governors therefore believe that the use of the Investment surplu5 In year to provide support to Ashvllle families fultlls the stated purpose to safeguard thè future of the College. The Colle8e alms to contlnue to provide facllities of an excellent standard to enhance the educallonal, boardlng and sportin8 lifè of the pupils. The Governors alm to achleve thls throu8h a programme of on-going capltal Investment In exSstln8 and new facilities, whlch Inevltably increases the value of tanglble fixed assets at the Èxpense of free resèrve5. Th15 programme wlll be financed from the prOed5 of fund rai51n8 aCtivltie5, available unrestrlcted funds and further bank borrowln& should the Governors feel that debt servicing could be prudently covered by fee Income and the surplus on tradin8 actbvltles. However, the deslre for contlnued investment in the College wlll be balanced against the need to ensure that the College has adequate and appropriate free and Ilquld reserves at all times; to that end the Colle80 intends to bulld up an investment fund over the next 5 to 10 years. Durln8 the year the College had a small number of unrestrl¢ted, deslgnated fund5'. In AuBU5t 2012 the Colle8e recelved a £IOk donatlon to be used to support puplls apptylng to elther CambridBe or Oxford Unlverslty. At the year end the fund had a value of £9,26912020'. £9,269). The Charity had two restrlcted funds In the year.. The College has a fund of £5k for three prizes to be awarded to puplls at the annual Speech Day. The Annual Fund was established for donatlons re¢eived from Old Ashvllllans and In relatlon tv the 1401h Annlversary. Donations Into this fund are likely to be spent In the year that they are donated or very soon thereafter. 19
Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August Z021 (continued) Goin8 Concern The charitvs financial p051tion and performance has been outlined in the financlal review on the previous pages. The Governors have assessed projerted future incorne, expenditure and cash flows over the pèrlod to December 2022, and analysed the strength of the charity's reserves and Ilquld assets and it5 ability to wlthstand a materlal fall Sn In¢omSng resources. Consideratlon has been 8iven to proleded pupil numbers, pupll:tea¢her ratios and all known and projected costs in making this assessment. In previous years, the prbncipal uncertainty facing the Colle8e was pupil numbeis. Though this remalns the ¢ase, the Coronavlrus pandemic has also bought additional external uncertainties to the ColleEe, namely the risk of additional Government restrlctlons. le3ding to either a further c105ure of thè College, or Ilmiting the College's abllSty to serve overseas boarders. and the economlc downturn generate(J by the pandemlc. Excluding the impacts of the Coronaviru5 pandemlc there are also additional external factors that the College must consider, Including the economic uncertainty created by Brexit,. politital uncertalnty an¢J the potentSal Impact of a Labour government, whl¢h could lead to a reductlon In current charltable rellefs,. and anyfurtherfut(rre Increase In the Teachers, Penslon Scheme employer contrlbutlon5. However, the pupll numbers over the last year and into 2021122 glve the Governors re85surance that the College remalns In a relatively strong p051tlon and wlll stlll be able to meet the covenants associated with the College's loans. Desplte the challenges faced by the Coronavlrus lockdown, the College achieved a Surplus of 7.7% in 2020121 and commltted to a £IOOk donation to the Ashvllle Foundatlon, all whllst offerSn8 financlal dlsceunts to parents over the school closure period. Both the Governors and Management malntain a keen awareness of the risks and contlnuallv track, rnonltor and plan for known and anticlpated rlsks facing Ashvllle and the wlder Independent School sector. Th15, alongside very close mana6ement of the financlals and coupled with the revenue generatlft8 Potentlal of Ashvllle Trading In a p05t Coronavlrvs economy means the Governors remaln confident that the Colle6e remalns a Goln8 Concern. As at 31 August 2021 the College had net current liabllltles of £1.8m12020.. £1.Sml. Thls posltlon Is largely due to IhÈ recelpt in the year of payment5 on accounts of fees for the academlc year beginnlng I September 2021 which were £2.3m12020'. £1.7ml. Overall, Currenl Ilabllitie5 increase by £814k, while cash a150 increased by £663k, leadln8 to the Increased in net current IlabllStles. Though current Ilabllltles have Increased cash Is In a stron8 posltion at £2.3m12020.' £1.6ml. In the li8ht of all available evidence, the Governors have concluded that there is a reasonable expectailon that Ashville College and its subsi¢Jiarles have adequate re50urcès to continue thelr 3¢tlvlties for the foreseeable future. Accordinglyi they continue lo adopt the 8olng concern basis in preparing the financlal statements. 20
Annual Report of the Governlng Body acting as trustee for the charlty, Ashville College, for the year ended 31 August 2021 (continued) FUNDRAISING REVIEW As a registered charity the Charity is requlred to report on its fundraisin8 activltle5 in the financial year. In theyearto 31 August 2021, Ashville did not undertake any dlrettfundraislng and has not engaged any professional fundraisers to work on it5 behalf. STATEMENT OF GOVERNING BODY'S RE5PONSIBILmES The Governlng Body, as the trustee of the Charity, is responslble for preparin8 the Trustee's Annual Report and the flnancial statèments in accordance with appli¢able law and United Kingdom Accountin8 Standards Iunited Kingdom Generally ACpted Accounting Practl¢el. The law appllcable to charltles In England and Wales requires the Governors io prepare financial statements for each financial year whlch give a true and fair vlew of the state of affair5 of the charity and the group and of the incomln resources and application of resources of the charity and the 8roup for that period. In preparing these flnanclal statements, the Governin8 Body is requlred to.. select sull8ble attountlng pollcies and then apply them con515tently; observe the methods and principle5 in the Charities SORP IFR51021,. make ludgments and estlmaies that are reasonable and prudent,. state whether appllcable accountlng standards have been followed sublecl to any materlal departures dlsclosed and explalned In the financlal statements; and prepare the financlal statements on the goln8 concern basls unless it is inapproprlate to presume that the charity wlll ¢ontlnue In business. The Governlng Body Is re5ponsSble for keepln8 proper accountlnB records that dlsclose wlth reasonable accuracy at any time the flnanclal position of the charity and enable them to ensure that the flnanclal statements comply with the Charlties Act 2011, applicable accountSng re6ulatlons and the prc>v15ions of the trust deed. They are also responsible for safe8u3rdin8 the assets of the charity and the group and hence for taklng reasonable steps for the preventlon and detection of fraud and other Irre8ularitles. The Governlng Body is responslble for the maintenance and Inte8rity of the Charity and financial informatlon Included on the Charity's website. Legislation in the Unlted Kingdom governlng the preparatlon and di$5eminatlon of flnancial statements may differ from le8islatlon Sn other jurisdiction5. AUDITORS 5affery Champness LLP have expressed thelr wllllngness lo remain in office as audltors of the Charity. Thls Dlrèctors report wa5 proved by the Governing Body on 04 December 2021 and Signed on their behalf bv.. JCSEAR Chair, Ashville College Trustee Limited 21
Independent auditorfs report to the Governing Body (as trustee} of Ashvllle College Opinlon We have audited the financial statements of Ashville College Ithe'parent charit*l and Its subsidiaries (the 'group'l foi the year ended 31 August 2021 which comprise consolidated statement of financial activity. the consolidated balan sheet, the consolidated cash flow statement and notes to the financial statements, In¢ludin8 significant a¢countinÈ policies. The finanual reporting framework ihat has been applied in thelr preparation is appllcable law and Unitèd Kingdom Accounting Standards, including Financlal Reporting Standard 102. the Financial Reporting Standard applicable in the UK and Republlc of Ireland Iunited Kingdom GenÈrally Accepted Accountlng Practice). In our opinion the hnancial statements.. give a true and fair vlew of the state of the group and parent charity's affalrs as at 31 AuBUSt 2021 and of the group'5 and the parent char5ty's incoming resoLtrce5 and appllcation of resotsr¢es for the year then ended,. have been properly prepared In accordance with Unlied Kin8dorn Generally Accepted Accounting Proctlce,. and have been prepaied In accordance with the requlrements of the Charities Art 2011. Basls for oplnlon We ctsnducted our audlt In accordan wlth Internatlonal Standards on Audlting IUKI11SAs IUKII and appllcable law. Our responsibilltle5 under those standards are further described in the AudStorfs responsibilitles fof thè audit of the flnancial statements sectlon of our report. We are Independent of the group and parent chailty In accordance wlth the ethlcal requirements that are relevant to our audit of the financlal statements in the UK, Includln8 the FRC'S Ethical Standard, and we have fulfllled our other ethlcal responslbillties In accordance wlth these requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent and approprlate to provide a basls for our oplnion. Cancluslons relatln8 to 8olng ¢on¢ern In auditing the financlal 51atements, we have concluded that the trustees, use of the golnB concern basls of ac¢ountlng In the preparation of the flnanclal statements Is appropriate. Based on the work we have performed, we have not Idenllfied any materlal uncertalntles relatlng to events or eondltlons that, indlvldually or collectlvely, may cast 5ignlficant doubt on the group or the parent charitV'5 ability to continue a5 a 6oln8 Concern for a perlod of at least twelve monih5 from when the flnancial ststements are authorSsed for issue. Our respon51bllltles and the respon51bllitie5 Of the trustees wlth respect to golng concern are descrlbed in the relevant sections of this report. Other Informatlon The trustees are responslble for thè other information. The other informatlon comprises the Information Included in the annual report, other than the financial statements and our audilor's report thereon. Our opinlon on the flnancial statements does not cover the other Snformation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assuran conclysbon thereon. Our responsibility is to read the other information and, In doing so. consider whether the other information is rnaterially Inconsistent with the financlal statements or our knowledge obtaine<l in the course of the audit or otherwise appears to be materially mlsstated. If we identify such material Incon515tencies or apparent material misstatements, we are required to determine whether this gives rise to a matèrial misstatement in the financlal statements themselves. If, based on the workwe have perf?rmed, we conclude that there is a material mi55tatement of this other information. we are required to report that fact. We have nothinB to report in this regard. 22
Independent auditorfs report to the Governing Body (as trustee) of Ashville College (continued) Matters on whlch we are required to report by exception We have nothing to report in respett of the followln8 matters in relation to which the Charities IAccounis and Reports) Regulations 21X)8 requlre us to report to you if, in our opinion- the information given in the Trustees, Annual Report Is inconslsteni In any material respect with the financlal statements- or the parent charity has not kept sufficient accounting re¢¢rds- or the parent charlty's flnancial statements are not In 88reement wlth the atcountln8 records and return5; or we have not received all the Snformation and explanations we require for our 4udlt. Responslbllitles of trustees As explained more fully In the Trustees, Re5ponslbllltles Statement set oul on pa8e 21, the tTustees are responslble for the preparatlon of the financlal statements and for belng satlsfied that they glve a true and falr vlew, and for such internal control as the trustèes determlne Is necessary to enable the preparatlon of financial statements that are free from material mlsstatement, whether due to fraud or error. In preparln8 the flnanclal statements, the trustees are responsible for as5esslng the 8roup and the parent charitV5 ability to contlnue as a 80in8 con¢ern, dlscloslngi as applicable, matter5 related to going concern and using the going concern basls of accountin8 unless ihe trustees elthèr Intend to Ilquidate the 8roup or the parent charlty of to cease operatlons, or have no realisti¢ alternative but to do 50. Audltors, r•sponslbSlltl•s for the audlt of the flnanclal statements We have been appoSnted as audltors under the Charltles Act 2011 And report In accordance wlth re8ulatlons made under that Act. Our objectlves are to obtaln reasonable a55urance about whether the Broup and parent financlal statements as whole are free from material mls5tatement, whether due to fraud or error, and to 155ue an audltor's report that includes our oplnlon. Reasonable assurance is a hiBh level of a55urance, but Is not a guarantee that an audlt conducted in accordance with ISAS IUKI will alway5 detect a materlal misstatement whèn it exlsts. Mlsstatements can arlse from fraud or error and are consbdered material If, indivldually or In the a68regate, they could reasonably be expected to Influence the economic declslons of users taken on the basls of these flnanclal statements. Irregularllles, including fraud, are Instances of ntrn-compllance wlth law5 and regulations. We design procedures Sn Ilne with our respon55bilities, outlined above, to delect material mi55tatement5 In respect of Irregularities, including fraud. The 5peclfic procedures for thls engagement and the extent to whlch these are tapable of detecting Irregul3rities, Includlng frau(l are detalled below. Identlfylng and assessin8 r15k5 related to irregularities.. We assessed the susceptiblllty of the group and parent charity's financial statements to material misstatement and how fraud mlght occur, including Ihrough dlscussions with the trustees, discusslons within our audit team plannlng meetin& updatinE our record of internal controls and ensurlng these controls operated as Intended. We evaluated posslble incentives and opportunities for fraudulent manipulation of the financial statements. We Identified laws and regulation5 that are of sl8nifi¢ance in the contem of the group and parent charity by discussions with trustees and updatlft8 our understanding gf the sector in whlch thè group and parent charity 0rate. Law5 and regulations of direct Slgnificance in the context Of the group and parent charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance Issued by the Charity Commission for England 3nd Wales. Further the charity is subject to other laws and regulations where the consequences of non- compliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictlons on the charltys operations. We identified the m05t 518nificant laws and regulations to be the Independent School Standards as found in the Educatlon and Skills Act 2008 and guldan¢e issued by the Department for Education. 23
Independent auditorfs report to the Governing Body (as trustee) of Ashvllle College (continued) Audit response to risks identified.. We considered the eent of Complian with these laws and reBulations as part of our Budlt prOdre5 on ihe related flnanclal statement item5 including 3 review of financial statement disclosures. We reviewed the parent Charity's record5 of breaches of laws and re8ulations. minutes of meetings and correspondence wilh relevant authoritSes to identify potential material misstatements arising. WÈ discussed the parent charity's policies and procedures for compliancè with laws and regulations with members of manaBement responsible for compliance. During the planning meeting with the audlt team, the engagement partner drew attention to the key areas which might involve non-compllance with laws and regulatlons or fraud. We enquired of management whether they were aware of any instancès of non-compliance with laws and regvlatlons or knowledge of any actual. suspected or alleged fraud. We addressed the risk of fraud throu8h mana8ernent override of controls by te5tlng the pproprlateness of journal entries and identifying any significant transactlons that were unusual or outside the normal course of buslnÈss. We assessed whether Judgements made in maklng accountlft8 estimate5 gave rise te posslble indicatlon of management bias. At the completion stage of the audit, the engagement partnerfs revlew Included ensuring that the team had approached thelr work wlth approprlaie professlonal 5ceptlcism and thus the capacity to identlfy non-tompliance wlth laws and reBulations and fraud. There are Inherent limltatlons in the audit protedures descrlbed above and the further removed non-compllance with laws and regulations is from the events and transactions reflected in the financlal statements, the less Ilkely we would become aware of li. Also, the risk of not detectlng a materlal m155tatement due to fraud Is hi8her than the rlsk of not detecting onè resulting from error, as fraud may Involve dellberate concealment by, for example, forgery or intentional mSsrepresentatlons, or through Collusion. A further descrlption of our responsibllities Is avallable on the Flnancial Reportin8 Councll's web5Ite at.. www.fr -or 'Il l Thls descrlptlon forms part of our auditor's report. Us• ol our report Thls report is made solely to the parent CharItS trustees, as a body, in accordance with Part 4 of the Charitie5 IA¢¢ounts and Reports) Re8ulatlons 2008. Our audlt work has been undertaken so that we mlght state to the parent Charity trustèes those matters we are required to state to them ift an audiior's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibllity to anyone other than the parent charlty and the parent ¢harltls trustees as a b¢dy, for our audit work, for thls report. or for the oplnlon5 we have formed. LLe Saffery Champnèss LLP Chartered Accountants Mitre Huuse North Park Road HarroBate HGI 5RX statutory Auditors Date.. 14 December2021 Saffery Champness LLP is eligible to att as an auditor In terms of Section 1212 of the Companies Act 2006 24
Ashville College Consolidated statement of financial activities lor the yeor ended31 August2021 Unre5trlrted fund5 Restrided funds 2021 2020 Notes Incoming re50LFr(es In¢omeAmm chorltuble u£tfvftk5 fees receivable Le5s.' Scholafshlps and bursaries 12,716,246 I87575 12,716,246 12,6S2,213 1913.6491 11.100,7591 137,8021 Net fee5 recelvable 11,840,399 137.8021 IIWZ,597 11.551,454 qenerotedAunds Tradin8 income Bank and other Inrerest Sundry Income Donatlon51 Grants 3U,756 441 123.889 520 313.756 441 123A89 38.322 379.875 3.947 456.213 64,292 37.802 Total Incomln8 rsourtt5 I2.279,)5 12.279,005 12,455,781 Resour¢es •xp•nd•d Costs off oenemtlnq Junds Tradln8 expendlture Amortlsatlon of IntanKlble As5et5 Depreclatlon 1200,3711 1200.3711 1366.7891 11.5561 11,1421 16491 16491 1201M201 1201,0201 1369,4871 Chorlt47ble artlvftls Teachln8 costs Welfare Premises Support costs Depreclatlon Flnance and othercosts fjovernance costs Grant ILossl/Proflt on dlsp05al ol tsnglble 16W7,0041 11.680.0701 1961,7421 11.581.0711 1780,5871 151,1571 111.5171 1100,0001 13,9581 16,837,0041 16,783,369) 11,680,0701 11,384,132) 1961.7421 11,016,648) 11,581,071) 11,596,$471 1780.5871 1797,2071 152,1571 1172,2631 111,5171 113,4731 1100.0001 1200,0001 13,9581 7,064 25 Total r•S0ur5 expended 112,209,126) 112,209,126) 112,326,062) N•t In¢omln¥ r8sourEes 69079 69,879 129,719 Net movtrn•nt In funds Transfer between reserves Balanees as at I September 2020 69.879 69,879 129.719 17x171.253 30,318 17.101.570 16,971.A51 Balances carrw fonvard at ai August 2021 17.141,132 303 17,171,449 17.101,570 The notes on pages 28 to 46 form part of these financial statements. The charity has no recognised gains or losses other than the net movement In funds for the year. All activities relate to continuing operations. 25
Ashville Colle8e Balance Sheets as at 31 August 2021 Note5 Consolidated 2021 College 2020 Z021 2020 Flxed assèts Intanglble Tangible Investmonts io li 20.580.290 20,538,074 20.580,185 10,000 20.536,002 io.ooo 20,580,290 20.538.074 20.590,185 20.546,002 Current Osseti Stocks Debtors Cash at bank8nd In hand 8J17B ZO760 2.252,920 15,940 295,510 1,588.683 7,776 41Z,357 I4,451 15.637 420,010 1.525,925 12 1528.858 1,900,133 I04,584 1,961,572 Crodltors omounts Aallinq due wlthln one yeor Payments recelved on account Trade credltors Other credltors Bank loan 15 12,569,9ag1 12,025,532> 1163,6061 1161,0741 11,368,441) 1984,6241 1252,4821 1245,4951 12.569,9331 12,019,282) 1159.2821 1159,5141 IlJ47.3701 1964,3691 1252,4821 1245,4951 13 14 14J54,4621 13,416,724) 14,329,067) 13,388,6591 Net wrrent Il•bllltlèi 11,825,6041 11,516,591) 11I24A831 11,427,087) Cr•dltorJ omountsfolllno due afterone yeiJr Advance fee payments Other credltors Bank loan 15 16A681 184.3021 1311.6121 1325,0231 11264,7591 11.510,5891 16,8681 184,3021 1311.6111 1325,0231 11264,7591 11,510.5891 14 Total net wiets 17,171A49 17,101,569 17.182,464 17.199,002 Funds Unrestrkted lunds tsn4esionoted Unre5trlcted funds designoted Re5trlcted funds 16/18 117,131,8611 117.061,9831 19,2691 19.2691 130,3181 130.3181 117.142.8771 117,159,415) 19,2691 19,2691 130,3181 130,3181 17 Total fvnds 117,171M91 117,101.5691 117.18ZN641 117,199,002) Approved by the Governin8 B y on 4, December 2021 and signed on thelr behalf by.. J C Search Director. Ashvllle Colleqe Trustee Limited 26
Ashville College Consolidated cash flow statement fvr the yeor ended31 Jlugust 2021 Note 2020 N•t rash Inflow from operat5n8 a¢tlvltles 19 1.774,970 744,766 R¢tt¢rn on investrnents •nd servldng of flnance IntÈrest recelved Interest payable 441 157.7581 3.947 166,8471 1573171 162,9001 Caplral *xpendlture and Iln•ntial Investm•nt Purchase of tangible flxed a55ets Prollt on disposal ol tangible f5xed assets 1827,4101 1548,1221 16,8521 1827AIOI 1554,9751 Fbnandng Repayment of capital elernent of bas)k loaTr Repèyment of flnance leases Drawllown New flnance leases Capltal linanclng 1238,8431 1125,6781 1232.0491 1185.7561 207,577 26,106 138,517 I226.() 1236,3341 Incr¢•selld•¢Y•as•l In ush durfn¥ th• p•rlod 664238 1109,4431 27
Ashville College Notes for the year ended 31 August 2021 (forming port of thefinoncitslstotementsj Accounting pollcles The financial statements are prepared in accordance with the Charitie5 Art 2011 and wlth the Charities Statement of Recommended Practice I"SORP IFRS1021"l and Financial Reportlng Standard 102. Basis oAoccountlng The financial statements are Prepared under the historital cost ¢onvention as modified by the revaluatlon of Investments at market value. Prepamtion offinanclalstutements-golng wncern bosis As In prevlou5 years, thè principal uncertainty facing the College is ptspil numbers. Though thls remalns the case, the Coronaviru5 pandemic has also boughi additional extèrwjal uncertalnties, includin8 the risk of additional Government restrlc¢ions, leading io either further closures, or limiting the College's abilily to serve overseas boarder5, and the general ee¢nomic downturn generated by the pandemic. However, pupil numbers cver the last year and Into academlc year 2021122 gives the Govèrnors reassurance that should the College experlence a downturn In pupil numbers from the current position it would still be in a relatlvely strong position. Bank funding in the form an overdraft facility is avallable from December 2021. As at 31 August 2021 the College had net currènt liabllitles of £1.8m12020.. £1.Sml. This position Is lar8ely due to the receipt in the year of payments in advance of fee5 for the 4rademic year beglnnlng I September 2021. The Governors therefore do not believe thls represents a golng concern r15k. Thè charbty's financial position and performance has been outlined In the financial review above. The Governors haveasse55ed proleaed future incomè, Èxpendlture and cash flow5 over the perlod to December 2022, and analysed the strength of the chaTIty's reserves and liquld assets and Its ability to wlthstand materlal fall in in¢omlng resources. Conslderation has been given to projected pupll numbers, pupil.. teacher ratios and all known and projected c05ts in maklng thls assessment. The flnantlal performance of the College is revlewed monthly, and the cash flow Is revlewed termly, by the Finance and General Purpose Commlttee. Thls level of scrutlny and the prudence bullt Snto the forecasts mlnlmlses the rSsks relatln8 to the cash flow forecasts. In the Ilght of all avallable evSdence, the Govemors have contluded that there Is a reasonable expectatlon that A5hville Collegè and Its subsldiaries have adequate resources to continue their a¢tivStSes lor the foreseeable future. Accordlngly, they continue to adcPt the goln8 concern basls in preparing the linanclal Statemenis. Fundoccountlnq Restrlcted funds represent 8rants, donatlons and le8acles whlch are allocated by the donor lor speclfic purposes. DesiBnated funds comprlse unrestrl¢ted funds whlch have been set aside by the Governors for partlcular purposes. The alm and use of eath designated fundls Set out In the notes to the Ilnanclal statements. General undesignated funds represent unrestricted income whlch is expendable at the dlscretlon of the Governor5 in furtherance of the objects of the Charlty. BUS oAcon5011dotlon The accounts havè been consolÉdated to include the Collège's tradlng subsidiary, Ashville Trading Ltd. Income and expenditure from thetrading subsidiary are con501idated Into the financial Statements on a line by line basis. No sepafate SOFA has been presented for the Charlty alone, as permitted by Section 408 of the Companies Act 2006. All financial statements are made up to 31 August 2021. Incomlng ffsources All income is recogni5ed in the statement of financial actlvitie5 when the condition5 for recelpi have been met and there 15 reasonable assurance of receipt. Where a claim for repayment of Income tax has or will be made, such income is grossed up for the tax recoverable. The following accountin8 policies are applied to income. Fee income represents fèes for tuitlon and boardin8 provided to pupils durlng the year. Fee5 are accounted for on a reteivable basls. Any fees received In advance are deferrèd. Investment income is accounted for when receivable. Tax recoverable relating to investment income is accovnted for in the same perlod as the related income. Legacy incorne 15 included when the charity is advlsÈd by Ihe personal representative of an estate that payment will be made, and the amount involved can be quantified. 28
Notes (continued) Accountlng polS¢les (continued) Expendfture All costs are allocated directly according to their function within the charity as follows.. Charitable costs are those incurred In the day-to4ay running of the college.. Cost5 of generating funds are incurrecl In the raising and management of funds from other sources, or funds se8re8ated for speclfic. designated purposes.. and Governance costs are those incurred in fulfilllng the charitws statutory obll8ations. Cash ondllquldresourcts Cash, for the purposes of the cash flow statement, comprlses cash in hand and dep051ts payable on demand. less overdrafts payable on demand. Stock Stock Is valued at the lower of cost less provision for obsole5¢ence and net real55able value. lfttanglbleAlxed ossets and omort150tlon Amortisation 15 provlded to write off the c05t less the estlmated resldual value of intanglble flxed assets by equal Instalment5 over the estlmated useful eronomlc Ilfe as follows.. Teachlng resources 33% per annum Flxed ets and depreclarfon Depreclatlon is provlded to wrlte off the cost or revalued amount le55 the estlmated residual value of tangible fixed assets by In5talments over the èstlmated useful economlc Ilfe as follows.. Plant and fixtures Vehicle5 10- 20% per annum 20% per annum Computer equlpment Land 10-20% per annum Bulldings 2% per annum Freehold land and bulldlngs were revalued at open market value for existin8 use al 31 August 1993 and have noi been updated since. The charity has fiozen the valuatlon of these assets as thp equlvalent cost. Investments All Investments are valued at market value a( the balance sheet date, except the Investment in the subsidlary company whlch Is dSsc105ed at C05t. Any chan8es In value In the year are reported in the Statement of Flnancial Actlvltles, and historlcal costs are disclosed separately by way of a note. Crlticalaccountlnq Judgements andkey sourcts of estlmotion uncertalnty In the appllcation of the Charlty's accounting policies, the dlredors are required to make judgements, estimates and assumptions about ihe carryln8 amotsnt of assets and liabilities that are not readily apparent from other sources. The estlmates and a550clated assumptlons are based on hi51orlcal experience and other factors that are consldered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptlons are revlewed on an ongoing basls. Revision5 to actounting estimates are recognised in the period in which the estimale is revlsed, if the revision affects only that period, or In the period of the reviston and future periods if the revision affects both current and future periods. There are no estimates and assurnptions whlch have a signiflcant risk of causing a materlal adju5trnent to the carryin8 amount of assets and liabilitles. Leoses Assets held under hire purchase agreements are capitalised and disclosed under tangible flxed assets at their fairvalue. The capital element of the future payments 15 treated as a liabllity and the Interest is charged to the proflt and loss account in proportion to the remainlng balance outstandlng. Rentals appllcable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a sir31ght lirte basis over the period of the lease. 29
Notes fcontinued) Accountlng pollcles fcontlnued) Financlallnstniments The Charity only has financial assets and financial liablllises of a klnd that qualify 3$ basic financial instruments. Basic financial instruments are initially recogni5ed at transaction value and subsequentlv measured at amort15ed cost. Employee benefits The costs of short-term employee benefits are recognised as a Ilablllty and an expense, unless th¢)se costs arè rèquired to be recognised as part of the cost of sio¢k or fixed a55et5.The cost of arty unused holiday entltlement 15 recognised In the period in which the employee's services are received.Termination benefits are reco8nised immediately as an expense when the company 15 dernonstrably commltted to terminate the employment of an employee or to provide terrnlnation benefits. Governmentgrants Government Brants are recognlsed at the falr value of the asset received or recelvable when there is reasonable assurance that the Èrant condStlons wlll be met and the grants will be received. Governmènt grants relatlng to Income are recognlsed a5 Income over the perlods when the related costs are Incurred. Grants relating to an asset are recognised in income systematically ovèr the asset's expected useful life. If part of such a grant is deferred It Ss recognised as deferred incorne rather than being deducted from the asset's ¢arrylng amount. Penslons otherp05t.retlrement benejlts The charlty contributes to group personal penslon schemes for non-teachin8 Staff. The assets of the schemes are held separately frorn those of the college in independently adminlstered funds. The amount charged In the yearly financial statements Tepresenis the contributlons payable to the scheme In respect of the accounting perlod. The college also ¢ontrlbutes to the Teachers, Penslon Agen¢y 5uperannuatlon scheme. a deflned beneflt Scheme for Its teachln8 Staff. The assets of the scheme are held separately from those of the School. Contributions paid durlng the year are charged in the financlal statements, The charity has applled the multb-ernployer exemptlon under FRS 17 to acteunt for the scheme as a deflned contrlbution scheme. The costs are charged dlrèctly to the statement of flnanual 3Ctlvlties. Tpxotlon As the College Is a reglstered charlty no provlslon15 requSred for Corporatlon Taxation on the College's charltable actlvitiès. The College's subsldlary, Ashville Trading Ltd, Is Ilable to corporatiC*n tax. Current tax is provlded at amounts expected to be pald lor recoveredl usin8 the tax rates and law5 that have been enacted or substantlvely enacted at the balance sheet date. F re¢glvable 2021 2020 Tultlon fees Boardlngfees 11,021.002 1,070,939 IL,166,949 876,195 12,091.941 12,043,144 Musffic tuition Day pupils rnea15 Learnlng support Otherfees and charges 135,619 457,121 6.635 24,930 154,928 392,229 39,711 22,199 12.716246 1913,6491 12.652,213 11,100,7591 Less.. Scholarshlps and bursaries. 11,802,597 11,551,454 '£37,802funded vla re5rrlctedfunds 3Q
Notes (continued) Sundry Income 2021 202D Rent receivable Tuckshop trading profit other income Governrnent Grafits 4,800 22,274 7,741 421.398 1,349 5,889 111,851 123.889 456,213 Tradin8 Income The college owns 100% of the i55ued share capital rif Ashville Tradln8 Llmlted (company registration number 02617491 which provldes sport5 centre facS1Stles, lettlngs during holiday perlods and professional servlces throu8h 'Ashvllle Education,. The trading resu115 extracted from Its audited financlal statements were.. 2021 2020 Tumov•r Cost of sales Other Income 168,349 1179,1591 100,032 296,1))6 1327,2611 Grom profft Admlnistratlve expen5e5 GOrnrnent Grant$ 89.2ZZ 146.1721 45J75 131,2551 169.7181 83,870 Op¢r•tln8 profft L055 on dlsposal of tanglble asset Interest payable & slrnllar charge5 88,425 11,3191 16891 117,1031 11,6751 pioflt before tèxlon Taxatlon charge 86,417 118,9891 Rtalned profSt for the fln•n¢lal y•ar 86,417 118,9891 pbtal and reserves at ye•r end 11,0141 187,4301 The aggregate ol the assets, Ilabilities and fvnds wa5.. 2021 2020 Assets Uab115tles 181,6S6 1182.6701 85m2 1172,5221 Funds 11,0141 187.4301 31
Notes (continued) DonatSons Unrestricted Re5trlcted Total 2021 Totsl 2020 Donatlons Other 520 37.802 38A22 64.292 520 37,802 38,322 64,292 Expendlture 2021 2020 Ch•rltabl• •xp•ndlture Includes.. Indemnlty InsuT3nce for Governors Operatlng lease expense in year Governan¢• ¢ost$ Includes: Audltor's Mneratn Fee5 payablt to the charlty's audltor lor the audlt of the charlty's flftanclal Statements 3.495 82,401 2,913 14,750 12,900 staff c05t5 01 the colle8e Wa8es and salaries Social se.curlty c95t5 Apprentlce levy Penslon contrlbutlon eakhcare 6,634,114 6Z3,943 18,113 1,107,048 3,304 6,472,559 606,318 18,323 1,078,829 5,349 8,586,522 8,181,378 K•y Mana¢•ment Personnel.. 2021 2020 As8re8ate 5alarles of key management personnel Ilnc. penslon coniflbutlonsl 477330 482.253 32
Notes Icontinuedl Expendlture Icontinuedl The number of employees whose emolurnents exceeded £60k was: Number Pen51on corfftlbutlons 2021 2020 2021 2020 £60.000- £70,IX)o £70,000- £80.)0 £80,000- £90,C £90.C)m- £lOO,000 £ioo.000- £iio,000 £110,000- £120,000 E120,000- £130.CK)O £130,OCQ. E140,L¥XI £140,000- £iSO.000 20,769 28,514 23.616 20.828 28,428 PensSon contrlbutions are pald into eltherthe Teachers, Penslon Scheme, which Is a deflned benefit scheme, or Into a defined ¢ontrlbution occupatlonal penslon scheme. Nelther the Governors nor pe¥sons connected with them recpived any remuneratlon or other benefits from the College or any connected or8anI5atlon, In the current or prlor year, other than relmbursement of out of pocket expenses. whl¢h totalled £80 in the yeaf12020.. £nlll. Included In wages and salarles above are redundanLy payments of £129,46412020.' £26,607). The average number of employees durinB the year was.. Headcount 2021 173 33 13 33 29 2020 193 Teachlng Welfa Premises Support Tradlng 14 35 39 315 33
Notes {continued} Analysls of totsl resource5 expended Deyedatlo and amortlsatlon st•ff costs Other Total Totsl 2021 2020 Costs of gener*inglund5 Trading expenditure 145,538 54,833 649 201,020 369,486 145.538 54A33 649 201.020 369,487 Cost5 of artlvltles In furtheranc• of th• ch8rWs objetts leaching costs Welfare Premises Support Costs Depreciatlon 6,514,912 589.762 379,628 902,221 322,092 1,090,308 582,114 678,850 6I37m4 1,680.070 961.742 1.581x171 780.587 6,783,369 1,384,131 1,016,647 1.596,547 797.207 780,587 &386,523 2.673,364 780.587 I1074 11,577.903 GOVernCe costs Flnance 8nd othercosts Donatlon 11,517 52,157 loo,000 11.517 52.157 100,000 13.473 172,263 200,000 163,674 163,674 385,736 Total r•sour¢es expended a82.061 2.891I71 781,236 12.205,168 12,333,126 PrforY•4r Comp•r•tlv•: D•pre¢l•tlon and •mortIson St•ff ¢oxs Oth•r Tot•1 Totsl 2020 2019 Costs of 8eneratln8funds Tr•dln8 •Xpurltur9 299,418 67,370 2.698 369086 451,676 299,418 67.370 2,698 369087 451,676 Costs of actsvltlts In furtheiancl of th• harlty's oblerts Tea£hln8 costs WeW•re Preml$•$ Support ¢osti Deweci•tlo 6,403.902 548.269 373,730 855.476 379,467 835,862 642,917 741,071 6,783369 $,689,268 1,384,131 1,860,873 1,016,647 1,026,493 1.596.547 1,703,156 797,207 712,544 797,207 8.181.377 2.599,318 797,207 11.577,903 11.992,335 fjov•rn•n¢• ¢osts Flnance and other<osts DoD•tion 13.473 172.263 200,000 13A73 172263 ZODMD 8,909 140,527 385.7¥ 385,736 149,436 Total resources expended 8N80.796 YM52N24 799,905 a33,6 12,593,447
Notes (continued) Corporation Tamation The corporation taxation charge and year-end Ilability relates to the non-charitable trading a¢tivitle5 of the trading subsidiary, Ashville Trading Ltd. 2021 2020 Current tax UK corporation tax Adjustments In rqspect ol prlorytars UK corpordtlon tsx The rate of current tax for the year, based on UK standard rate of corporation tax foi small cornpanles is 19% 12020.. 19%). The athual tax charge for the current year and the previous year differs from the standard rate for the reasons set out in the following recondllailon. 2021 2020 Proflt on ordlnary actlvhles charge11E to CgrporatK)n tax 86,417 118,9891 Expected tlK charge at l%12020'. 19%) Fartors affettingthe charge for the year.. Depreclation In exces5 of tspttal Albw8nces Short terrn tlmlng differences Losses carrledlorward 16419 13,6081 328 201 130 13,2771 116.7471 Corporatlon Tax payable Intan8lble Flxed Assets All IntanBlble flxed assèts are held in the tradln8 subsldiary-. Teathlng R•50urus At beginnlng of the year AddfiiDns 7,000 Atend of th¢yqar Ai beginning of the year Chargefor the year 7,OC Aterbd of the year At 31 August 2021 At31 AugL¢St 2020 35
Notes (continued) io Tanglble flxed assets CONSOUDATED Asset under ¢ovrse of n51rurthin Freehold Computer land and Equlpmnt buildlnz5 Nxture5 Plant Afid And FlttlnBs Machlnery Mgtor vehlcles Totsl Costorvohiotlon At beginning of year Additions Di5pDsals Transfer to other category 383,036 25,353,782 385,821 189.255 2,358,450 1.931,886 8Q.962 168.014 18.0981 61D,628 3.358 57.083 30,694.865 827,410 18,0981 At end of year 768,857 25 543,037 2 431,314 2.099 900 613,986 57.083 31,514,178 Depreciutlon At beÉinninB of year Charge loryear Dlsposa15 Transfer category 6,039,389 498.621 1.754,067 1,710,349 196,114 78,843 14,1391 595,903 7.658 57,083 10,156,791 781,235 14,1391 to other At end ol year 6,538.011 1,946,041 1,789,192 603.561 57.083 10,933,888 Net book value At 31 August 2021 76S,857 19,005.026 485,Z73 310.708 IOA25 20,580,290 At 31 August 2020 383,036 19,314,393 604,383 221.537 14,725 20,538.074 Asset5 under constructlon Include Phase l and 2 of the dlnlng hall project and laundry relocatlon all set to mplete Autumn 2021 All tan8lble fixed assets are used for dSrect chaillable purposes wlth the exceptlon of the assets wlthln the trading 5ub5idiary. These are analy5ed as follows- Net book ¥alue •1 JI August 2021 Al und•r cours• gf Fmhold nd and bu4dln#s Compumr Equlpm•nt FLxtur Int And M•chln•ry Motor ¥ehl¢l•$ Totsl flttlws rect Ch•fftabl purpos•s College 786,857 19,QbJ5.026 485,168 310.708 10,425 20,$80,1 Tradlng ic6 106 786.857 19m5.026 48S2Y4 310.708 iOA25 20,190 All freehold land is included wlthin Ashvllle College. No depreciation has been provided on freehold land, which has been included at a valuatÉon of £4,367,14412020: £4,367,144). 36
Notes (continued) io Tanglble ftxed Assets (continued) COLLEGE Asset under Course of onstructlon Freehold land and bulldln85 Computer Equipment Flxtures Plart And And Flttings Mathlnery Motor ¥ehttles Total Co$tor voluvtlo At beginning of year Addltlons D15posals Translerto other category 383.036 385.821 25.353.782 189,255 2,351,991 80,962 13,4421 1,913,882 168,014 610,628 3.358 57.083 30.670.402 827.410 13,4421 Atend of year 768,857 25 543.037 2 429,510 2 081896 613,986 57.083 31,494.370 Depreclotlon At b2glnnlng of year Charge for year Di5posa15 Transter cate80ry 6,039,389 498,621 1,749,680 195,465 18031 1.692,346 78,843 595.903 7,658 57,083 10,134.401 780,587 18031 to ether Atend of year 6,538.010 1.944,342 1.771189 603.561 57,083 10 914,185 Netbook vulue Al 31 AuBust 2021 At 31 August 2020 768,857 383,036 19,OOS,026 19.314,145 485,168 602,311 310,707 221,536 ION25 14,725 20,580.185 20,536,002 The hlstorlcal cost of rèvalued freehold land and bulldin8s wlthln College is: 2021 2020 Hlstorlcal rost Accurnulated depreclatlon 2,077,929 1794,7951 2,077.929 1753.2371 Hlstorlul c05t net book value 1283,134 1.324,692 The net carrying amount of a$5ets held under finance lease5 at year erid Is £165,900 12020.. £292,691) li tnvestmenis Cgrtsolid•t•d Total Colle8e Total Market value at I September 2020 10,000 Marketvalue at 31 August 2021 10.000 Analysed as Investrnent sub51diary 10,000 Totsl io,ooD 37
Notes (continued) 12 Debtors ConsDlldzted 2021 Coll•8• 2021 2020 2020 Fee and trade debtors Amounts owed by subsldlary undertakin8 Ta140 and Social Securlty Other debtors Prepayments 29,168 26.258 21,019 157,276 23.418 51,337 159,307 19.933 144.458 12,271 111.710 131.638 23A18 55,967 159,807 12,271 125,343 131,638 13 Credltors.. amounts falllni due wlthln one year Consolld•t•d 2021 Coll¢g• 1021 2020 2020 Other trdkors du• wlthln l y•ar¢omprfse: Taxation and 50C1315ecurlty Other credltors Lease kcrua15 163.006 474819 132,679 597.937 153.805 448,345 131,566 250.908 ISOM47 471,021 132,679 593,223 146,027 440,931 131,566 245.845 8ank loans In 2012113 the Board approved a £1.2m loan facillty wlth HSBC In order to part finan the refurb15hment of the Sctolhlll Hall. In 2014115 In addStlon to the standard monthly payments, £4CQk of the prlnclpal was repal(I, following the sale of one of the College's resldential propertles. The loan was Inltlally for a ierm of ten years. On 9, October 2018 thls loan was rellnanced wlth Lloyds Bank and the HSBC loan wa% repaid In full. The HSBC loan was secured on two resldential properties owned by the Colle8e' on 9 October HSBC released their charge over the propertles and Lloyds were granted a new thar8e ovpr the Same two resldential buildin85. At the time ol refinancin8 the loan balance was £320k. In 2016117 the Board approved a £2.Om loan faclllty wlth Lloyds Bank in order to finance part of the contract to refurbish the sports centre. The loan is repayable over 10 years ffom initial drawdown Sn March 2017. lfitèrèst on the loan is on a variable rate of 1.95% above the Lloyds Bank Base Rate untll January 2019; at that point the loan converted to a fixed interest rate of 3.49% until the balance is fully repaid. The following bank loan securlty Is In place: An unllmlted all monles guarantee from Ashvllle College Trustee Ltd. An all monies guarantee from Ashville TradinB Ltd for a prlnclpal amount of £2m plug interest and other costs. 2021 2020 Repayable Wlthln one year Between one and two year5 Between fv40 and fwe years In rnore than ffve years 252.482 2597Z 826N65 178N2Z 245,495 252,481 802.658 455.450 1,517241 1,756.¢)84 38
Notes (continued) 15 Payments recèlved In advance Consolidated colle8e ZQ21 2020 2020 Advance lees After S years Withln 2 to 5 years Wlthin I to 2 years 9,936 74,366 9,936 74,366 6.868 4868 84,302 6868 84.302 Withln l year Advance lees Payments on account Dep051ts 45,003 2.282232 241rA8 68,809 1,701.523 255.200 45.003 2282,232 242,698 68,809 1.701.523 248,950 69.933 2.02S,532 2.569,935 2,019.282 2.576AOI 2.109,834 2,576,801 2.103,584 Payments recelved In advance Indudes fee deposlts, payment5 on account In respect of thefollowing term's fees and a(Jvance fees where parènts enter into a contract to pay to the school several years, fees in advance. ThÈ money relatlng to advance fees may be returned subject to speclfic condltlons on the re¢elpt of one term's notice. The above assumes these pupils wlll remaln In the school. The balance represenls the accrued liablllty under the contracts. The movements durln8 the year were.. Balance at I September 2020 Fees In advance for 2021122 Fees In advance lor after 2021122 Movernent on deposlts Amounts utlllsed In p8yment ol fees 2,103,584 2,327,235 6B68 16,2521 11,854,633) lance at 31 August 2021 2,576,801 16 Undeslgnated fund5 Revaluatloty rese Retalned surplvses ccount Conso15datsd Total Balance at I September2020 Surplus from statementol flnanclal actIvIeS Tran51er between funds 5A62,527 11,599858 69.879 102,567 17.061.985 69.879 1102,5671 Dalance at al August Wll 5.359.960 11.771.904 17,131 39
Notes (continued) 16 Undeslgnated funds (continued) Rèvaluatlon ie5er¥e Retained surplu$$ College Totsl galance 8t I September 2020 Surplus from ststement of flnanclal actNities Transfeired from deslgnated reseThes Transfer bdween funds 5,462.517 I1.69689 116,5381 17,159,416 116,5381 1102.5671 102,567 Balan 4t 31 August 2021 5.359,959 11,782,918 17,142,878 17 Other funds 8alan¢• Nrt Tr•n$fertol from oth•r rès• Cons¢lld•ted Out8olng Balance 31.Aup20 Incomlng r•soU¢S Re50ur¢es 31-Au8-21 Restrld¢d Incom• fvnth Prlie Fund Annual Fund Rev Morton Fund Foundation s.000 25,318 5,000 25,318 37,802 137,8021 30.318 37.802 137,8021 30.318 Unre5trlcled Sn¢ome fund5 Desioootedfunds Homerton fund 9,269 9,269 D4$16n•t*d fund$ 9,269 9,269 Und•sl8nat•d funds 17,061,984 69,879 17,131,863 Total funds 17,LOI,571 107,681 137,8021 17.171,449 40
Notes (continued) 17 Other funds Icontinuedl Balancé N•t Out8tiin8 Resource5 Tranrfer tol from other reserve CrJlle8e 31-Aup20 IncomlnK resources 31-Au8.21 R•5trlrted Income fvnds Prlze Fund Annual Fund Rev Morton Fund Foundatlon 5,000 25,318 5.000 25,318 37.802 137.8021 30.31B 37A02 137,8021 30.318 Unre5trfcted Income funds Qesignatedfunds HDrnerton fund 9,269 9,269 Desl¥nated funds 9.269 9,269 Unde51Knated funds 17.159,415 116.5381 17,142,877 Totsl funds 17.199,002 21,264 137,8021 17,182,464 The purposes of these funds are: The Prlze Fund Snclu¢Jes donatlons to the College to fund speech-day prlzes,. The Annual Fund is made up of numerous small donations recelved durlng the year from the Frlends C*f Ashvllle and from alumni. The Annual Fund will fund the purchase of varlous items for use across the College.. and The Homerton fund comprlses a donatlon to Ihe charlty which has been set aslde for the specific purpose of encouraging pupils to apply to OxFord or Carnbrld8e Unlversltles. 41
Notes (continuedj 18 Analysis of n•t assets bètween funds Consolldated Unrestrlcted Unrestrl¢ted lund$ lunds un-deslgnoied designoted Restrlcted funds Total fvnds Funds bilan5 at 31 Au8USt 2021 •r• r•pre5ented by Tanglble flKed assets Intan8lble fixed assÈt5 Current a55et5 20.580,290 20.580,290 2,489,271 15,937,699) 9,269 30,318 2.528.858 15.937.6991 Tot¥1 net askts 17,131.862 9,269 30,318 17,17L449 Colleg• Unrejtrlrted Unrestrl¢ted fvnd5 fund$ n4esl4noted deslgnoted Restrlcted funds Total Funds Funds balances •t 31 Au8USt 2021 ir• t•prosénted by Tangible fixed assets Investments Current assets 20,580.185 10,000 2.464,997 15,912,305) 20,580,185 10,000 2.504,584 IS,912,3051 9,269 30,318 Total net 4sset$ 17,142,877 9A69 30,318 17.182 Prknr Y•ar Comparatl¥e.' Consolld4tad Unrtitrlct•d Unfe$trlrted funds un-deslgnared Rertrlcted Tot•1 fvnds dt5iqnuted Funds balances at 31 August 2010 are r•pr•sent¢d by Tanglble fixed a55ets Intanglble fixed asset5 Current aetS 20,538,074 20,538,074 1,860.546 15,336,638) 9.2G9 30,318 1,900,133 15,336,638> Total not a55ets 17M61983 9,269 30318 17,101,569 Colle8e UnTrItted Unrestrlcted funds fvnds Un-de51gnoted deslgnGted Restrlded funds Total funds Fund5 balance5 at 31 AuKu5t 2020 are represented by Tan8ible fixed assets Investments Current assets 20,536.001 10,000 1,921,986 15.308,5721 20,536,001 10,000 1,961,572 15.308,5721 9.269 30.318 Total Aet assets 17.159.414 9,269 30,318 17,199,002 42
Notes (continued) 19 Reconciliation of revenue surplus to net cash Inflow from operating actSvltles 2021 2020 Net Incomln8 resour5 for the year Interest recelved Interest paid Amortlsatlon of Intanglble fixed assets Oepreciation of tangible fixed a55ets Iprofitl l Loss on di5PQ531 ot fixed assets Iincreasel l Decrease In stock Iincreasel / Decrease In debtor5 lTrcrease IIDecreasel In credltors 69,879 14411 57,758 129,719 13.9471 66,847 1,556 798,350 7.064 13,9541 40,816 1291,6851 781,236 3.958 7.862 27,650 827.067 Net cash Inflowlrorn operatlng actlvltles 1,774,969 744.766 20 Lease ¢ommltment5 At the year end, the Charlty had outstandin8 commltments for future mlnlmum lease payments under non- cancellable operatln8 lease5 and flnance leases whSch fall due as follows.. 2021 2020 Op•r4tln¥ Leas¢5 Withln one year Between one and ffve year5 After flve years 71,187 97,218 7ZA16 184.261 168,405 256,677 2021 2020 FIrtan Leases wr(hlTr one year etween one and five years After flve year5 132.679 33.219 131,566 160,011 165.898 291,577 43
Notes (continued) 21 Flnan¢lal Instruments 2021 2020 Carrying amount Of financial èssets measured at amort15ed cost Z9.168 26,258 Carrying amount of flnanclal Ilabillties measured at arnortlsed cost 2.278.783 2,168,066 22 Penslons The College partlclpates In the Teachers, Penslon Scheme 1.the TPS.) for its teaching staff. The pension charge for the year Include5 contrlbutions payable to the TPS of £993.94612020.' £971,7571 and at the year end £114,29712020.' £112,7381 wa5 accrued in Tespect of contrlbutlons to th1$ Scheme. The TPS Is an unfunded multl-employer deflned beneftts penslon scheme Boverned by The Teachers, Penslons Regulatlons 20101as amended) and The Teachers, Penslon Scheme Regulatiorb5 2014 las amended). Members contrlbute on a "pay as you 80" basi5 wlth contrlbutions from member5 and the employer belng credlted to the Exchequer. Relirernent and other pension beneflts are paid by public funds provlded by Parliament. Under the definitions of FRS102 the TPS Is a mulil-employer pen51on scheme. The college has accounted for it5 contribution5 to the scheme as If It were a deflned contrlbutlon penslon scheme. The employer contrlbutlon rate is set by the Secretary of state following scheme valuations undertaken by the Governmeni A¢tuarW5 Department. Following an actuarlal review in 2019, the amount employers pav towards the scheme has increased to 23.68% from September 2019. The timinK of the implementatlonls to allgn its Introduttion wlth employers, budget plannin8 tycles. This employer rate wlll be payable untll the cornpletion and outcome of the next actuarlal valuatlon. There are also Indlcatlons thgtthe protectSons In the new c05t cap me¢han15m requSred bylhe Publlcservlce Penslons Act 2013 mean publlc sector workers will gei Improved penslon beneflts for employment over the period April 2019 to March 2023. The Charlty also contrlbutes to a group personal penslon scherne for SLtpport staff Ilncludlng the staff of Ashville Trading Ltd),. these costs are ¢harged dirertlyto the income and expenditure accouni. Support staff contributÈ to one of two money purchase penslon schèmes. The assets of thesè schemès are held separately from those tsf the College in Independently admlnlstered funds. The pension Charge for the year for these Schemes amounted to £105,57912020= E104,1961.
Notes (continued) 23 Consolldated statement of ftnanclal actlvStles for the year ended 31 August 2020 un¢ed funds Re5trlrted funds Z020 2019 Note5 IncornlnB resources Incomefrom cht3rftuble ortlvltles Fees receNable Less.. kho13rshlps and bursar5es IZ,652,213 11,043.3871 12.652.213 13,896,558 11.100,7591 11.193,7051 157A721 Net fees recelvable IMomlftg resources generrtedAunds Tradlng Income Bank and other Interest Sundry Income Donatlons l G¥8nts 11,608.826 1573721 11.551,454 12,702.852 Jrom 379A75 3,947 456.213 5.920 379,875 3,947 456.213 64,292 615,855 3.543 42,399 6,726 57J72 Tot•1 In¢omln¢ resou1 12,455,781 12A55.781 13,371,376 R•sour¢•s •xynd•d Costs oJgeneft7tlnqfvndJ Trèdln8 expendlture Amort15ation ol Intsnglble Assets Depreclatlon 1366,7891 11.5561 11.1421 1366,7891 11,5561 11,1421 1447,9291 12,3331 11,4131 1369,4871 1369,4871 1451,6761 Charftoble 4rtlvftk8 Teachln8 Costs Well3re PMIseS Support cost$ Depreclatlon Flnonce and other co$ts Governènte costs Grant Profit on dlsp05a5 of tanglble asset5 16.783.369) 11,384.1321 11,016,648) 11,596,547) 1797.Z071 117Z,2631 115,4731 Izoo,(wi 16.783,3691 15,689,268) IIJ84.1325 11.860,8731 11,016.6481 11,026,493) 11.596,5471 11,703,156) 1797J071 1712,5441 1172,2631 1140,5271 113N731 18,9091 (Zi.{10) 25 19,9771 Totsl resource5 expended 6/7 IIZJ26.0621 IIz.3Z6.0621 112,603,424) Nel IncornlTrz resources IZ9,719 IZ9,719 767,952 Not movement In lunds Transfer between reserwes 8alances as at I September 2019 129,719 129.719 767,952 16.941.534 30,317 16,971851 16,203,899 Balan5 rarr4•d forw•rd •t 31 Au8llSt2020 17071253 30,318 17.101.570 I6.97151 45
Notes (continued) Related partytran5aCtlons In the year the AshvillèTrading Ltd spent É12,818 wlth College. At the end of the yearthe College wa5 owed £157.27612020'. £144,458) from Ashvillè Trading Ltd In the year the College spent £28,884 with William G Search12020'. £13,890), a company of which one of the Governors is a director. The balance Qutstanding at year end totalled £924. Governors, expenses In the year totalled £8012020.. £nlll. The College received £37,80212020.' £53.5581 from The AshvillÈ Foundation- this was used to fund bursaries for current puplls. The College donated £IOO,000 to ihe Ashvllle Foundation,. this will be used to fund bursarle5 for current puplls In future years. The balance with Ashvllle Foundation at the year end was £243,704, Included in other credltors. 25 Reglstered Addres5 The registere¢J address of the Charlty and Ashvllle College Trustee Llmited Ss Ashvllle College, Green Lane, Hgrro8ate, North Yorkshlre, HG2 9JP. Ashvllle ColleBe Trustee Llmlted Is reglstered in En8land and Walès wlth the company number 4552232. 46