ASHVILLE HARROGATE Ashville College Report & Consolidated Financial Statements Registered Charity: 529577 For the Year Ended 31 August 2022
Contents Governors, officers and advisers Report by the Governing Body acting as tee for the chartty. Ashville College Statement of the Governing Bod(s responsibilities Independent auditorfs rewrt to the Governing Body {as Trustee) of Ashville Col*e Consolidated statement of financial actlvities 4-21 22 23-25 26 Balance sheets 27 Consolidated cash flow statement 28 Notes 29-46
Governors, Officers and Advisers GOVERNING BODY The Governing Body of thecharity during theyear h35 been Ashville CollegeTrustee Limited,. the Direclors of Ashvllle College fru5tee Limited are referred to as'Govemors'. or members of the GovernlnE Body. The Directors who held office during the period were as follows- Jame5 C. Search * # Christopher Mldaley Slmon Donkin. David Humphreys Paula Jackman ARB, RIBA Revd Le51ie Newton Anne Vautrey J. Peter Whiteley FCA * 4 John Wood Jonathan Oxley stephen Andrews GreE styles Beth Mottram. lan Brown. Jerome Salnt-marc Mlchelle Lofthouse Nlcola Stamford Chair Depirty Chair (from I September 20211 Appointed I September 2022 Appointed 6 Decèmber 2021 Appointed I September 2022 Resigned 31 August 2022 Resigned 31 August 2022 Resigned 31 August 2022 Resigned l October 2021 Old A5hvilllan Dlrertor of AshvilleTradln8 Ltd None of the Olrectors had a benefiaal interest In any contrdct to whlth the Company was a party during the year, except as dlsclosed In note 24. OFFICERS (Key management personnel) Rhianrbon Wllkinson MA (Oxonl MEd Hèad AppoSnted I September 2021 Rlchard Rooze aerk to the Governors & Bursar Appointed l August 2022 Owen Hllller Deputy Head (Academlcl Appolnted I September 2021 Anna Wllby Deputy Heaé (Enrfchmentl Laura Jackson Deputy Head Istaffj Alllson 5plllman Deputy Head IPupilsl Appointed I September 2022 Claire Whltaker Assistant Head Icurrirulurnl Appolntèd 28 February 2022 Helen Alndow BA. AC4 aerk to the Governors & Bursar Resigned 22 April 2022 ADVISERS Audltor Saffery champness LLP Mitre House North Park Road Harrogate HGI 5RX Bankers Uoyds Bank 8- 11 Cambrldge Crescent Harrogate HGI IPQ khofield Sweeney LLP 76 Wellin8ton Street Leeds LS12AY
Annual Report of the Governing Body acting as trustee for the charity. Ashville College, for the year ended 31 AuEUSt 2022 Ashville College Trustee Limlted as the sole Trustee of hlIe College. presents ltsannual report for theyear ended 31 August 2022, together with the audited finanaal statements for the year. and confirm5 that the latter comply with the requirements of the Charitles Act. the TnJ5t Deed and the Charitie5 SORP IFR51021. OBJEcfs. AIMS AND OBIECTIVESAND AcnvinES Charitable Obletts The Charitvs primary object. as Set out in Its Trust Deed. i5 the adwdncement of edutatlon, includinB the provlslon of boardinÈ and day schtsoling for boys and gir15 wlthin the context of its statu5 as a Methodlst School. The Charity also has to maintaln Its herlta8e endowmènt. which indudes the College buildings and enwronment. Alms and Intended Impacr Wlthin these objects, A5hville College's aim is to be recognised as an excellentschool In the Harrogate area to realise academic abllities, nurture individual talents and develop all4ound chardcter, in a climatè of positive expectatlon and within the Methodist traditions of the College. Prlnclpal Adivltles In the Year The Charity prindpally provides e<lucation in Harrogate to boys and girls from the ages of 2 to 18. Oblectlves 2021122 has seen the arrival of a new Head, Rhlannon Wilkinson. and with it a significant clarificatlon of the school's objective5, namely that 'new Ashville. should be the Independent school of first Choi in the Harrogate area. Thls means presetvlng and buildingon the5d)od'svalue5 and Methodisttradltion5, aswell as its reputslion fordellverlng a hollstl¢ and sUppOrte whole-thild educatlon, whi15t making significant Smprovements on the academic slde. Academic Succe will be mèasured both through results aThJ atlalnmenl data, and also ev1den ofthe wlder setof skllls that children wlll learn to supportthem In study and work in later Ilfe- Ashville's'future readv programme. These ambitions are descrlbed in MO detail below.. Strateglc Intentsfor the.ne Ashvllle: l. To be an excellent. alkthrough12-181 sthool, wlth strong reuuStmeni and retentlon. We wish to be a happy and rewarding Pla for children and staff to work in. 2. To offer aodemlc exllen, innovation and opportunities for creativlty. enablin8 every pupil lo reallse her or hls academlc potentlal tothe full, wlth passionate and dynami¢ teachers delivertng challenBinE and excltln@ lessons. 3. To be a vibrant. carlngcommunkly where every Individual has a strong sènse of what It means to be an Ashvllllan and Is proud of that fact. 4. To be a warrn. supportlve. avlllxed communtyw5th stroryg moral values. We 11 seek to achievethls through self- dlsdpline and prfde rather than fear and pUnhment 5. To have a proacklve approach to pastoral (a which de¥elops positNe, ¢onfident puplls who develop hi8h levels of resillence. Our pro8Tamme- Flourlshlng@Ashwl1e-ll equip pupils with the personal 5killsthey needto navlgate the challenges of adOlesnce and the pressures of the outslde world. 6. To develop a programme which enable5 puplls to be Future Reath. Gulded by the Worfd Econornic Forum Skllls for the Woikplace 2030, FutureReady@AshvSlle teaches enterprtse, skills for the workplace, environmental and global 3warene5s. It offers careers and hither education adwce as well as leadership tralnlng and opporwnities. 7. TD promote physlcal literacy, not throueh PE and Sport as enjoyable experien, but also through an appreclation of the importance of achlevlnE a sense of balance, wdlbein& and a healthy lifestyle.
Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2022 (continued) 8. To provide a range of opportunitles for hvIlle pupi15 to learn about servlce. This applles to carln8 for others within the College, our local communlty and further afield. Lookin8 after eath other is atthe heart of A5hville's values. Wè will seèk actlve partnership5 With local state sthools. 9. To nurtu a strong sense of community through personal and soaal developmènt Outside, as well as Inside. the das5room, through a diverse and rich range of co-currlcular activities and House activltie5. We wlll look to Introdu the.hvIlle Approad)", a blueprint for enhandngthe development of personal attrlbute5 for Ashvilllans. 10. To have excellent relationships wth parents and alumni through first-rnte communications, events, forum5 and a host of community-based activities. Our philosophy ts one of openness and we have a deslre to learn from our partner5 to nurture a strong sense of community. The fullllment ofthis w5iDn strategic airns slts at the hèart of Ashvbllds new fi¥year Strategic Plan drawn up by the new Executbve Leadership Team and Governors.
Annual Report of the Governing Body actlnE astru5tee for the charity Ashvllle College, forthe year ended 31 August 2022 (continued) STRATEGIC REPORT This has been a transformative year for Ashvllle. The appointment of Rhiannon Wllkinson as the new Head marked a clarltlcatlon of the school's goals, summarised in the ambition to be'the independent school of first choice, in the Harrogate area. lrnplied wlthln this was a mu(h sharper focus on academic achievemènt, so thal Ashvllle could dellver exam results on a parwlth those of its MO academic Avals, supported by a bro1 r)Jltural change to promote higher aspiration and excellence across the b(Jard. In practlcal terms, this strategy required the school to tske immediate steps to arrest the decline In pupil numbers which the school had seen slnce 2018; to reduce its costs and Improve effidency of processes to return to a 5UStainable finaricial position: and to ddiver evidence of a pOsite new dirertTron to pupils and parents. Over the year, therefore, the school has refreshed and $t[Urtured its Executlve Leadership Team, investlng In capacity to driveforward the necessary changes. There i5 greaterfocus on analysing Performan data, a new Head for the Prep sthtsol, and a new Senior post focusingon staff professlonal developmenL The schcK)l also successfully negotlated its eyit from the Teathers, Pension Scheme ITrSI - a dlfficult and contested change that will give the school much greater control over Its staff costs In the fvtuie. A number of tea¢hing staff Member5 took advantage of a Yoluntary severance 5cherne at this time, clearing the way for fresh blood In the staffroom and provlding opportunitles for strong performers withln the sthool to take up management roles. Early Years / Acoms, under the leadership of ne4¥ Head Chadotte Cryer, extended Provislon down to 2 year-oids and successfulfy bullt up number5 from less than ten children to almost thirty over the year. Goals Academi Improve the sthoo1'5 academic athievement (exam results, unfversity plaS). and build the schooys reputation for academic suC$S prioritise the Importance of excellent preparatlon and sUPPOrt for our Year 11 and Year 13 examlnatlon candldates address post-covid gaps In pupil leaming and underStsndI. Promote new ways of teaching and regular markin8 and feedback on attainmwt and progresslon. Ensure reBular assessments and feedback as well as the importance of collatinE arbd using data. (3rry out a full Prep school curriculum rewew launch Outdoor Educadon In the Prep school, bulldin8to prO$10n Yts 2-11 recruit and induct a new Head of Prep Enrlchment deliver an outstandlng cwrricular offer that builds lrfe ski115 Imaking pupils'future readVI relaunch A5hville as a busy, do5TrkniL happy and aspirational communitywhith whole-heartedly show51ts belief In the value of a hollstic educatlon, with a rith ctrcurricularoffer as a USP revlew Sports IPE current5tructure and effectiveness, and developstrategyfordeveloprnentoverthenext rwe years review House system and benefits. so that House memberships support pastoral goals
Annual Report of the Governing Bodyactlng as trustee forthe charity, Ashville College, for the year ended 31 AuEUSt 2022 (continued) Pastoral build a happy community known for the quality of pupil care. and for our pastoral system to be known for how it motlvates and èncourage5 children lo (Jo well bècome known as a school whlch encourages pupils to respect thar obligations to the wider community and'give bacv on many fronts make Improvements to the Dining Room experien land queues) addre5S the very real Issue of some poor behaviours partlcularly in Years 8 and Year 9. work on a shared strategy to deal wtth the trfbal behaviours of 'naughty boys and 'unpleasant nasty girls,, and tackle Sn a o)nslstent way the IDW level di5ruptlon In some classrooms whlch L% damaging academlc progress focus on the Importan of developing reslllence in younE people through the'FlourlshlnR@Ashvllle' programme, equippinE pupllswlth the personal sIL* they need to navigate the Challenges of adolescence and the pre55ures of the outslde world Boardl raUnch the benefrts of full and ffteble boarding for boarders and day pupils, creating a more inteBoted comrnunity whlch enjoys the benefrts of a 24n experfen analyse future long-term trends in boardlng and develop Ashvllle's response Cam usando eratlons renew our estate and grounds and plan for Improvements acr¢)55 the sitecommensuratèwith affordabllity revlew staffing efficienryand the Shape of the rrij1uM rationalise the multlple platforms used for inf0miaOn and communl(ations. mprove our relation5hip5 wlth all stakeholders indudinE the Old Ashvlllians. the New Friend5 of Ashville and the wider community identify communal Spa on a year group basts to provide Ses, to bulld communlty and improve community, including the library, whlth 5erve5 as a sodal hub but is not deslgned to do 50 and needs further InvÈ%tmènt develop a forbvard-looklng ITstrateEy for pupiL4 and staff that Improves communlcatlon and bullds skills for the future
Annual Report of the Governing Body arting astrustee for the charlty, Ashville College, for the year ended 31 August 2022 (continued) Achlevements and Perf0mnCe Academic Ashvlllds best ever A level resuRs In August 2022 wÈrÈas follows. There were s(gnificantly higher than the last round of factrtiFface A level examination results in 2019: 2022 23% 52% 78% 2019 12% 34% 54% 95% A'toA A*toB A'toE GCSE examinatlon results were also very good and repre5entthe Collegds best ever in terms of value- added scores. Just under a third132%} of all grade5 are 8. Ovèr half of grades are 9-7, and 75% of all grades are 9-6. The value-added equatès to 0.8 ofa Bde. Our prevlous valuadded scores in the Grade 9-1 era were 0.04 In 2017, 0.48 in 2018 and 0.55 in 2019. 0.8 Is an eXLIent outcome and reflert5 our growing acadernic cultuie. restructured Wlder Senior Leadership Team allows focus on dlfferent a8e-Éroups and transition51 student retentlon between them, e.g. from Prep to Lower Sd)ool- new Head of Lower School 15 now able personalfy to support re(Tuitinent the new structure has produ(zd record re¢rultment into key transitional years Year 7185 pupllsl and Year 12193 pupits- Ashvillds largest evèr) new Head of Prep school appointed and launching ojrrlculum review Eniichment a Year 7 Passport Wds launched, wf(h vtslble uptske in èngagement in the Co-curricular programme from this year group renewed focus on transferable skills &% part of the pro8ramme WTth all siaff allocatlng whith Ashvllle Values were being developed through Involvement in that actwity the programme became snIficantlY more diverse and varied than in prevlous years return of fixtures to the sportin8 pro8fdmme allowlng our pupils to be cornpetitive once more the school musical. You're o Good Mon tharlle 8rown. was a Breat success as We the concerts and Carol Services Duke of Edinburgh Gold trip wSth 26 pupiLs to the Lake Dlstrbct arKI the Bronze trip to the Yorkshire Dales wlth 52 pupils went well. We already have 42 Year 10 puplls signed up to start thelr Bronze award this term Pastoral appointment of an experienced new Deputy Head of Puplls to lead on Pastoral issues dlrect interventlon Into problematic behaTrdours when they occurred, and development of the 'FSourishin8@Ashville' programme to equip pupiLs wtth the peonal skills they need to navlgate the Challenges of adolescence and the pressures of the outside world
Annual Report of the Governing Body arting as trustee for the charlty. Ashville College, for the year ended 31 August 2022 {continued) Boardln recruitment of new. more experienced staff Into the Boarding funcuon to Talse standard5 analysis and review of boardin¥s contribution to College finance5 and community Cam ompletion of Dinin8 Hall and Laundry prolects frorn previous year IfiTSt quarterl programrne of summer works In the Hèaiys Entrance and Corridor. the re-sitlng tsf the main reception and the creation of a Main School Offlce in the Soothill eThtr3n, renovation of the ground floor of the Sixth Form Centre and the Prep School Entrance and stairs work at the Beaurnont Field5 Wlth the creation of a new f¢x)tpath and toilet faclllties Greenholme boarding house closed at the end of thls the summer term. with Inltlal scoping for expanslon into a new Early Years Foundation Stage IEYFSI centre undertaken cold water tanks in Norfolk, Brlw and Science were cleaned and di51nfected In May and those In Ma151nson were re-lined in the summer holidays STRLICTURE, GOVERNAN AND MANAGEMENT Governlng Document The Charlty 1$ 8ovemed by it5 Trust Deed dating from I3 and last amended in 2004. Governlng Body Ashville College Trust Ltd Is the sole trustee of Ashville College. The Directors of Ashwlle College Trustee Ltd, a5 set out on page 3, a referred to as the 'Governors'. The College is an asstsciate member of the Methodlst Independent Schoo15 Trust IMISTI; however, thè Ashwlle ColleBe governlng body is Independent from MIST. Appolnlment and Tralnlngol Governors The Trust Deed allow5 for a m3muM of 18 Governors: Ex-officlo Dlrectors There are three ex-officio Directors: The Chalr of the Yorkshire North and East Drstrrct of the Methodist Church; A representative of the Methodist Independent Schoo15 Trust Icjjrrently the Trusvs General Secretary),. and The Presldent of the Ashvillièn 5odety. Nomlnated Dirertors Therè are Qfve ntsminated Directors, whose appointment 15 conflrme(I by the Methodist confereft: Ten are nominated by the Board of Dlrectors: and Two are nominated by the Methodlst Independent Schools Trust.
Annual Report of the Governing Body acting as trustee for the charity. Ashville College,
for the year ended 31 August 2022 (continued)
C0
ted Directors
There are three co-opted Dlrector5. The appointment of a cfropted Director & for a spectfic perlod, not ex¢eedlng
three years.
On an annual basls. the make upon the Governing Body is ttjnsidered bythe Governance & Nominatlons Commlttee.
Nominated and co-opted Directors are then appointed to the Board of Ashvllle College Trustee Limited on the basls
of nominatlons and applications received from a wide ranEe of sources. Eligibillty, personal competencÈ. speriallst
5ki11s and availabi11ty are assessed by the Governan & Nomination5 Committee bèfore being considered for
election by the hjll Governing Body. New Governor5 a inducted into the worklnB5 of the Charlty and Its school,
Includlng policy and procedure5, throughvisitsto theschool,. meetings wth theHead, Bursar and Chalr of Governors:
and, the provision of handbooks and similar Itterature. Al Governors receNe InfOrMaOn on, and are encouraged to
take up. tralnlng opporturi1tl. A reLSter of Governortraining is maintalned.
Governan
Ashvllle College Trustee Umite(l. through Its Board of Directors, is legally responsible for the overall management
and control oftheentirecollege and meets at least thréè times a year. The work oflmplementing most of its polldes
is spread between three sub
Annual Report of the Governing Body arting as trustee for the charity, Ashvllle College, for the year ended 31 August 2022 (contlnued) Rwew of Governan The Board undertakes annual self-review. induding a wiew of the Boartys sklll mix and dfverslty. Th15 5elf-revlew is undertaken by the Governance & Nominations Committee. The Board ha5 agreed to appolnt an Independent. extemal reviewer to evaluate the effectiveness Df the Board on a five yearly basls. The first suth rewew was undertaken by the Assouation of Governing Bodies of Indepèndent Schools I'AGBIS'I In Summer 2018, with the next evaluation due In 2023. Charfty Governance Codè Good governance in charities is fundamental to their Success. A tharity is best plad to achieve its arnbitions and aims If it has effective governance and the light leadershlp structure5. For this rea50ri, the Governors arp committed to achieving the recommended practi described in the Charity Governance Code. The Code is dellberately asplrationol and It Is not envlsaged that chartties will fulfil all of the principles Immedlately. Having considered the Code, the Governors believe thai they have not fully applied the following princrples that are set out In the Code.. al ze of Board: The Governance Code suggests a board ot between 5 and 12 trustee5 15 consldered best practlce. As part of the re¥iew of governantr undertaken in 2018. the Board Colered its current mèmbèrship and agreed thal the Size of board was appropriate for Ashvllle. A board of up to 18 people ensures that the board ha5 a broad range of skills and expertise. and also is of sufficient slze to represent the charitvs various stakeholders. bl Length of 5ervke.' Governors are appointed for a period of thrèe years, but are able to be rèolected at the end of their term. There are some Governors who have served for more than 9 years. The Board belleves that having a small number of Governors who have served for more than 9 years provide5 Useful Institutlonal memorf forthe Board without damaglnE the need to progresslvely refresh the Board. Where a Governor who has served for more than 9 years is rÈelected their re- appointed is reviewed by the Governance & Nomlnations Commtttee. ¢1 Diverslty. While the Governors have taken infomial Steps to ensure that the Board is made up of Indlvlduals wlth a diverse range of skilb and backgrounds. and also is representatlve of the College's variou5 Stakeholder groups Ipèrents, Old AshIlIanS, the Methodlst (hurthl without loslng Its Independence, the Board does not yet have a formal derSIty plan. Such a plan wÉll be drawn up by the Governan & Nomination5 Committee during the course ofthe year. li
Annual Report of the Governing Body acting as trustee for the charity. Ashvllle College, for the year ended 31 August 202Z (continued) Organlsational Man38ement The day to day running of the Schools isdelegated tothe Head and Bursar of hvIlle College, who a supported by the Executive Leadershlp Team IELTI. The Head andlor the Bursar attend all Governor sulkcommittèe meetings. The key rnanagement personnel are defined as the Head, the Deputy Head (Pastoral), Deputy Head IAcadèmlcl, Deputy Head IEnrichmentl, Deputy Head Ioperations), Deputy Head (Staff Developmentl and the Bursar; all of whom have responsiblllty for plannln& directinÈ and controlllng the aCtl@S of the school on a ColSeg@-wide basis. The remuneratlon of key management personnel is set by the Governing Body, with the policy oblethlve of providlng approprlate Innt1¥c5 to encourage enhanced perfom)ance and of rewardiTh8 them fairly and re5ponslbly for their Sndlvldual conthbutions to the College's succe5S. The appropriateness and relevance of the remuneration policy Is reviewed annually by the Finance & General Purposes Committee including referen to comparisons with other independent schools to ensure that the College remalns sensitive to the broader issues of pay and employment condidons elsewhere. We alm to re¢ruit, subject to eXPeen. atthe lower to medlum pointwithln a band, providing Scope for rewardSng excellence In future years. The Goveming Body recognises that delfvery of the College's charltable v15ion and purpose is prirnarily dependent on our key rnanagernent peonnel and staff costs are the larBest slngle elèment of our Charitable expenditure. Group Structure and Relatlonships The Charlty has a wholly owned, non<haritable sUbdIary1 Ashvllle Tradlng Limlted. The main actlvities of Kshvllle Tradlng timite(l are operating Ashville Sports Centre; and managing re5idenUal and norpresidential lettings of the College's faalitie5. Ashwlle Foundatlon ts a separate charlty. whose purpjse is to prowde bursarles and other flnandal support to current and prospective pupils of K%hvllle who would rKJt otherwtse be able ro attend the College. There is a d05e rèlatlonshlp between the College and the Foundation with a numberof GD¥ernors also beIngTruSt of the Foundatlon. The College also benefits from ihe generosmy of a thriwng network of fomier puplls. The A5hvilllan Society. The Governors greatly appreaate and @jad a(*n(Iwledge thedose support of thls body. and duringiheyear the school has taken steps to refresh the rela0£hIp with the Society, whlth had become more distarbced durin8 the Covid peNod. 12
Annual Report of the Governing Body actlng as trustee for the charity, Ashville College, for the year ended 31 August 2022 {continued) PUBLIC BENEFIT In setting our oblectlves and planning our attlv]tles, the Board has gfven careful consideration to Section 4 of the CharitSes Act 2011 and the Charity Commlsslon'5 guidan on public benefit and, In particular, to its supplementarv publ1¢ benefit 8uidance on adwdndn8 educatlon and feorE18. The College audlts and reports on Its public benefrt both in terms of artivity and monetary walue on an annual ba5i5; thls report Is considered by the Governing Body on an annual basi& Admlsslons Thè Charlvs primary oblective ts the advancement of educatlon for boys and glrls in Harrogate; therefore, the main way that the Charity hjlfils Its publlc benefft i5 throuEh admissions into the College. The Governors are cognisant of the fact that the financial Cost of independent education is an Impediment to some thildren attendlng Ashville, therefore the College strives to ensure that tt remains accessible to as wide a range of families as posslble,. this ts achieved through the provision of diiect finanaal support by way of bursaries and a fair admlsslons process. Ashville College welcome5 pupils from all backgrounds. The Governors want to ensuie that potentlal pupils wlll benefit from the education the College provides and can cope with the pa of learn1 hence entrance intervlews and assessments are undertaken prior to a place n£ offered. However, an individual's economic status, gÈnder, ethnldty. race, rellgion or disability do not fomi part of thi5 assessment proce5S. The Governors are also committed to broaden5ng a¢(zss to the College by Offeri means-tested flnandal support to dlglble parents/guardians. Such support is known as a bursary and these are awarded In the form of a dlscount on fees depending on the financial, WmPal0nate or other pertinent arCUmstsn of appllcants. The bursary awards range from 10 percènt to 100 pernt remlssion of fees. Our bursary awartls are awailable to all who meet our general entry requirements and information about bursaries Is made available to all applySng to the College and information on bursaries Is available on the College website. However, the College does nL)t have a large endowment and must ensure thatthere is a balance bètween fetrpayin8 parents, many of whon7 make considerable personal sacrifices to fund their thild's educatlDlI. and those benefiting from the awards. In addltlon to bursaries, 5cholarshlps are awarded to recognlse high academlc potentlal or the ablllty to excel in other areas of the College, includlng sporL drama and rnusiL The Governors have a deliberate policy of redLFcingthe financlal dlscount asso¢lated wlth s¢holarship5 and directithiS Saving Into bursary fundlng. Communl Access A8hville College aims to be the heart of the community and works in various ways to open its doors to the publlo There were several SFK)rt5 camp5 in the academlc year 21122 Induding Hockey and Rugby camps In the Easter holldays and Rugby and Basketball camps in August. As ever, our on-site Sports Centre is open to the public and has Breatly increased it5 membership numbers. As part of the membership of the centre come5 a schedule of fitness ¢la55es to suit all types of mèmbers. The facilities themsefves are fantsstic and the affordable membershlp allows a varlety E)f members. The College's Director of us International Studies contlnuès to work closelywith American puplls at A5hville and in the local community- Ashville provides information to kmllie5 moving to the UK about the educatlon system. and offers 3ce about how to best nawgate the transltion from the US system. The College operts Its doors to varfous perfomiances and servi5 whith thè local communlty can engage with. Concerts and pro(luEtion5 are events whlch are publidy avallable and pupils from varlous local school came to watch the production of You're a G(K)d Man Charlie Brown. Both the town Carol ServS¢e and the Songs of Praise servi a open to the public and 5onBs of Praise was especially designed to involve the local drcuit of Methodist Churches.
Annual Report of the Governing Body acting as trustee for the charity. Ashville College. for the year ended 31 August 2022 (continued) (haTitablÈ Glvln & Artivfties In Ilne with the Charitvs Methodlst ethos, all pupils aiTOSS thè College are Encouraged to take part in charltable activlties. During the year. the pupils rdised money for a local, national and intemational chartties, specifically.. Yorkshire Alr Ambulance, The Red Cross and Edukid. In addition to these set tharities we ra15ed rnoney for Children in Need1£16611 and Comic Relief1£14301 durlng th*r annual fundralslng days. Many Ashville pupils Complete the Duke of Edinburgh award both at Bronze and Gold level and complete a great many hours of volunteÈring. The Muslc department held a fvndraising concÈrt and BBQ in June 2022 with a visiting Internatlonal band and Ashville pupils. They ralsed £750 for Yorkshlre Alr Ambulance. Two members of staff took part in sponsored wali% and runs to rdise money for the school charlty. A second-hand uniform sale, or8anised by the International Department, also raised money for Yorkshlre Air Ambulance The Prep School a)arfty club held a fllm ni8ht and rdi5ed money for the Leed5 Chlklren'5 Charity1£6221 There v4as a food bank collechon. organised by 6th form pupils. Regular falr trade slalb took place throughout the year in Prep and Senior School5. The Prep School held a harvest festival wlth food donation5 for Harrc£ate Food Bank. 14
Annual Report of the Governing Body arting as trustee for the charity, Ashville College, for the year ended 31 August 2022 (continued) FINANCIAL REVIEW AND RESULT5 FOR THE YEAR Fee Income FÈÈ Income thls year In(TeasÈd by 1.2%. moving to £12.87m from £12.72m in the prtor year. Normal fee dls¢ounts redUd In % temis to 5.7% of gross fee incorne. from 6.9% in the prior year- the reduction reflects the transfer of the mean5 tested bursaries1£199kl to the Ashville Foundation. OTh a Ilke for like basis. fee discounts Increased to 7.2% for the year ending 2021122. Other Income Other income relate5 to rental Income on owned properties. income from the Sixth Forn) Centre Cafe, and small Incldental recharges sud) as musieal instrument hire and travel incorne. Tradlng Inme and expendlturewlll be covered later In thls seclion. Expendlture Expendtture on charltable actIvleS Increased by 9.IM In the year to £13.3m12021: £12.2ml. Teachlng costs rose by 5.8%, to £7.2m12021: £6.8ml largely due to the oneoff cost of severanee paekage5 for Teathing staff leavinB during the 2cademicyear1£200k) Welfare costs in¢Jeased by £199k111.8%1 to £1.88m. Note that thls Is followlng a reduction In 2020 of £477k due to the Government Imposed d05ure of the College. The in¢rea5e in the current year refiects a return to full operation, and is broadly in Ilne wlth the last prelovid year, 2018119, at £1.86m. Premises costs increased by 8.9% to £1.05m. as the College carrled out overdue Maintenan works that had been ddayed due to Covld-19. Support costs have increased by 24% to £1.96m vs. £1.58m in prior year, driven by consultancy fees134K for one-off reports from Mungo DunneL Baine5 Cutler.. and onÉolnÉ tharge5 for consultancy on TPS, bus management, penslons and legal Issues. Depreciation fell s118ht by £17k12.2%1 The school was not In a position to make a donation to Foundation this year. Fee debt Fee debt increased to £I(k from £82k In the prior year, reflectlng the difficult economic environment and the school's effortsto retsin families. Bad debtprovision is moreprudent, with 100% provlslonforfee5 in lieu, increaslng from £65k to £82.5k. Capltal expenditute Capltal expendlture was £S24k In the year. Thi5 induded final completion of the Dining Room refurbishment at E351k, completion ofthe Laundry at £22.6k, and £56k In computers for the IT suite. Borrowlngs At the year-end total borTowing was £1.27m12021= £1.5ml with Lloyds Bank plL The loan with LIW Is repayable to March 2027 and is on a fixed rate of 3.49%. It Is secured on tsmo residential properties owned by the College. The College's other borrowingslobllgatlons relate to.. A £l(M)k loan from Holrtsyd Howe. whlth is repayable over the flrst five years of the ten-year contrdct ending March 2028. At the year end the total balan outstandlnÈ wa5 £52k. An obllgation agalnst a capltal diaw down of £301k from Holroyd Howe. As part of the contract between Holroyd Howe and the College, Holroyd Howe will make a £5(k capltal contribution to the College. The College has drawn IlDwn £401k against this, but is obllgÈd to remain in the contract with Holrtsyd Howe untll the contract end date in March 2028, therefore the draw down has been recognised as a Ilabllity on the balan sheet and wlll be released to the SOFA in accordancè wtth the temis of the contract: the balance at year end wa5 £271k. and £33k finance lease obllgation for the Invèstment in IT equlpment. 15
Annual Report of the Governing Body acting as trustee for the charity, Ashvllle College, for the year ended 31 August 2022 {contlnued) AShlIe Tradlng Llmlted hville Trading Ltd made a prollt of £172k in 2021122. The intrease rdects a full year of operation post<ovid. Sports Cwtre The Sports cent membership has inueased to around 61x1 members overtheyear. Lettlngs Letting5 also enjoyed a full yearof operation compared to the prlor year. At 31 August 2022 Ashville TradlnE has reserves of £171k. Trading Is prudently budgeted to achleve a profft in èxcess of £200k in 22123. Therefore, Trading will continue to be in posmve reserve poS10n in 22123 and ableto make a glft ald donation to College next year. Purpose of A5hvllle Tradlng The purpose of AshvilleTradinÉ Umlted 15 to utilise the Faciltlie5 and intellectual property of Ashvllle College in order to enhance livo5 in thewider communttythrough educatlon and enrichment. At Ashvllle and around Harrogate many people appreciate the exlIent educational and enrithment work that helps pupils thrtve at A5hville College. Outside the dally School life, K%hville Trading engages in a vadety of actNliles whlch open the facilitle5 6nd opportunlty for learning and enjoyment to a much wider audience at hDme and abroad. These activlties not On benefrt the participants but Ashwlle as a whole by ralsing the pioflle of the College to support recruitment, particularw of boarders, and ralse fundin8 to support investmÈnt in College resources. Some also prode personal development opportunities for College stsff. Thè example5 below were either compleled before the Coronavlrus re%trlttions were In place, contlnued in a c0vid-sre manner, or were delayed until after Coronavlrus restrlctions werè Ilfted: For the very youngesl Ashville swlm schools- vital 5ife skills for children Children's parknes in a fun and safe envimnment Bulldlng confidence, teamwork and Indlvlduallty Introdurtlon to and Iwilding swlls in a wide range of sports Summer camps-day and resldential activit5. Pfomotlng Health and Wellbeing Sports centre membership for staff and the publlc Range tsf group exerclse classe5 foi all abilities On-51te a¢¢ess to physio and personal trainer5 Hosting communlty and sportlnE events Audltarlum for spedal e¥ents for up to 500 Guest presenter5 Dance. choral and Stage Performan Broups Book launches 16
Annual Report of the Governlng Body acting as trustee for the charlty, Ashville College, for the year ended 31 August 2022 (continued) Rlsk Management hvllle College Trustee Llmlted, *Aa tts Board, is responsible for the management of the strategTC and operdtlonal risks faced by the College. The full Governing Body review the risk reEiSter at thè Dember board meetln& and this risk reBlster Informs the strate8ic and operational plans for the year ahead and the nèxt 3 tr) 5 years. The major risks Idenried bythe Governors were: Contlnued Impact of the Coronavirus-on health and the economy: Rlsing utillties costs Atrademlc UnderperfOnnan. Dependen on US pvpils and thewider relationship US customers: Impact of BrexiL an(J rise in'short-temi. EU student boardl Change of taxatlDn of Independent s¢hool5: A Labour Government,. Cyber-security and data-protection breaches: Building fallure; and A failure of the College'5 safeguarding polide5 and procedures. HavSng Identified these as the major risks. thè Govemors and College management have put strategies In place to elther eliminate these ri5k5, or to minlmlse thelr potential imparL The measures put In pla to mitigate the Identified risk5 include: Comprehensive plannin8 and budgetin8 process to ensure resources are approprlately allocated: Monthly revlew of financial 5tatement5 by College management and Governors; Formal written pollcies, Induding thorough policies and procèdures relating to safeguardlng and data protertion,. On-going programme of profe55ional development, Induding safeguarding and dats protection tralnlng for all staff; Well deflned and agrèed targets and objectives forsenior mana8ementand staff; Appolntment of professlonal advlsers as required- Appointmeni of an extemal data protertion offlcer: Comprehen51ve insurance coverage: Fornial dlsaster recovery policie5 and proureS IwhSch are periodical tested),. Frequent financial 'what-tr rnodelllng considered by College management and Govemors,. Well-developed plan5 to increase the number of boarders and 6th Form pupils,. and Process of contlnual 5elF4eview and strategy review by the College management and Governors. Through the r15k management prr)cesses egtabllshed for the College, the Board Is satisfied that the major risks identified have been adequatety mltSgated. It Is Teco8111sed that systèms ¢an only provide reasonable but not absolute assurante that major rtsks have been adoquately managed. The Governors regularly review the @ffectrveness of current plans and strategies for managlng all IdÈntified major risks for both the College and its subsldlarie5. 17
Annual Report of the Governing Body arting as trustee for the charity, Ashville College, for the year ended 31 August 2022 (continued) Reserves Poficy At the year end the College had unrestrlcted funds of £16.5m {2021: £17.Iml. As the value of t3nglble fixed asset5 Is £20.3m12021.. £20.6ml the College tethni¢ally doès not have any free reserves. The Governors aim to redu thi5 shortfall over tlme,. but. havlng reviewed the Collegds fvnding p)silion, the Governors dD not believe the shortfall Tepresents a significant risk and are confident that the College has adequate resource5 to maintain the day-to-day operatlon of the d)arity- It Is thè Governors, pollcy to generate a modc5t surplus of Income over expenditure each year to safeguard the future of the College and to fund working capital movements. The Governors alm to generate an "Investment surplus. Ideflned as SUTplus on unre5tricled funds before deplatiOn butexdudlngtheprofitor105s on thedi5posal of fixed a5setsI In èxcess of IO% of net fee income. This year the College made Ileficit of £595k and therefore thetarget was not mel. Thè Governors antlapated a deficitwlthin this year. andare comfortable that thereason the tsrget was not met was because of low income1720 pupils) and the costs assodated wlth restructuring the school post-covld, Including redundancy costs of £200k. and investment in senior lèadershlp posrtlons to transform the school. Governor5 are reassured that pupil numbers for September 20221761 not induding Early Years Foundation Stage IEYFSI, compared with 720 in the prior year) wll allow the College to retum to the sustalnable gerberation of investment surplus In year to safe8uard the fvture of the Collgge. Thè College aims to contlnue to provide tdcilitles of an extellent 5tsndard to enhance the educatlonal, boarding and sportlng Ilfe of the puplls. The Governors aim to achleve this through a programme of on-going capltal investment in existlng and new facllities, whith inevltably increases the value gf tsnglble fixed assets at the expense of free reserves. This programme 17 be financed from the proceeds offund-raising artes, avallable unre51rlcted funds and further bank rrOw1n& should the Governor5 feel that debt ser¥idn8 could be prudently covered by fee income and the surplus on trading activltles. However. the desire for continued investment in the College will be balanced galnst the need to ensure that the College has adequate and approprbate free and liquid reserves at all tlmes; to that end the College intend5 to build up an investmentfund overthe next 5 to 10 years. During the year the College had a small number of unrestricted. dÈsnaled funds.. In August 2012 the College received a £IOk donation to be used to support pupils applwng to elther Cambridge or Oxford Universlty, the'HomÈrton Fund,. At the year end the fvnd had a value of £9.269 The tharlty had three Testricted fvnds In the year: The College has a lund of £Sk for three prlze5 to be awarded to puplls at the annual Speeth Dav. The Annual Fund was established for donatlons Tecelved frorn Old Ashvlllians and In relation to the 140th Annlversary, for spedfic purposes rdated to the purthase of books and muslcal Instruments. The value of the fund at year end was £25,318. A fund of £l,CKM) was donated at Chrlstrnas 2021 for the purp)ses of developing the school'5 amateur rddio broadcasting club. 18
Annual Report of the Governing Body acting as trustee for the charity. Ashville College, for the year ended 31 August 2022 {cont5nued) GolnE Concern One of the responsibilities of Directors In approwng the accounts is to detemin2 that the College can and wlll contSnue as a going concern for the next 12 months. Presented below is the eviden to supp(>rtthis assessment. Re-forecast budgÈt for 22123. The budget for 22123 has been re-forecast on a Ilne by line basis, uslng October YTD actuals as a startlng polnt. The rfOrecaSt budget Includes recalculated energycosts. takinglnto attount planned government supportforOctober- March, but assuming a return to higher tariffs In Aprfl 2023. The pupil numbèrs drrving the fOre¢t are based only on acruals1761 at time of wrltln&} and known joiners and leavers. The College also traditSonalty has a small nurnber of new pupils jolnlng throuÈhout the year,. any possible upslde from this has also not been factored into the re- forecast budget for the sake of prudency. The re-forecast for 22123 is £218k surplus, which is £955k EBITDA17.4% surplus and 315% bank covenant coverage). Cash and capltal ¢ommltment As at 15th November 2022 there 15 £1.3m cash in thè bank. The cash flDW forecast Iwhlch Is based on the re-foreca5t budget dlscussed abovel for the year SUEgests that the College will be able to sustsin all of its outgoings, both monthly expenditure and capital spend, fmm IncominE fee and other income over the course ofthe year. There are èxpected to be pinch points around the traditional cash low points in the year, i.e. just befoie termly bllls are pald. A temporary overdraft wlth Uoyds is in place to cover these plnch points. It is not antldpated that anythln8 beyond this or more long-term wlll be required. Ca5hflow and working capital are monitored and managed very dosely by the Bursar and Finance department, a5 is spend agalnst budEèt. Capital commltments for the remalnder of th15 year are- Repl3ment of staff digital devices In early 2023. We are expecting to replacè 125 tablets and laptOP5, on which the current lease expSres soon. New device5 wlll be purd)ased on a 'lease to own, b15 wlth payment and depreciation Spread across 36 months IL£3.5k month- a reduction of £1.5kl month on current lase cost51 Replacèment of failing grounds equlpment, in parllcular 2 xtrartor and I x mower. Expected c05t c.£2.5k month over 60 months, tlèpreciation over 5 years. Replacement of muslc department Mac computers required for G¢3E and A-level course5 IE9K)- Replacement of projector and Str in the Soothill Hall (TBC- £15-25kl. Outdoor play equipment for 2 year-olds In Acorns Imax. £IOkl. Beyond the capital commitments In the cufrenl year there are no further short-term plans or ¢ontracted arrangements lor capital spend golng forward. For the interim. the goal 15 to Set aslde surplus to support longer~ term Investment plaTr5 currentfy being drawn up. AshvilleTradin -At 31 August 2022hVj1leTrad1ghad reserves Df £171k.Trading Is prudendy budgeted toachleve a profit in excess of £200k in 22123. Therefo, Trading wlll continue to be In positive reserves In 22123 and able to make a gift aid donation to College. There is further potential for revènue generation in Tradlng, wlth demand for lettings and the sport5 centre being very slgnlfitant compared to what we have previousiy Seen. if thè College can secure funds for investment in capacity. Trading has £150k cash at 31 August 2022 and owes College £27k. Trading will repay the intercompany balance to College over the course of the 22123 financlal yèar. This has been Included In the cashflow.
Annual Report of the Governing Body acting as trustee for the charlty, Ashville College, for the year ended 31 August 2022 (continued) Holro Howe inve5tment-Currently we have £95k remaining of thè £500k invesbment from Holroyd Howe, which we have set aside to Usè for capital kiichen equipment as tt reaches the of its usable life. Thls further redu5 the capex burden on the College over the next years. Early Years top-up fee- Acoms will tharge parents a voluntarytopupfee stsrtlng in January 2023, adding potentlally betwèen £IOk ané £20k income over a full year. Lookin£ ahead to 2023 and beyond Thè overdraft faclllty with Lloyrls is anilclpated to be a short4em) solution to help smooth cash plnth points during a shorl-terni period of re6TOWth within the College. Pupil rectuitment for Sept-2023 is buoyant, wth strong attendance at the whole-school Open Day in VaTlyOctobei and exlIentl3ke-upfQr Year 7 raster day, on the 12th November. The cashflow for September 2023 onwards flects a pmdent aSsuMptn of 790 pupi5s Includin8 Acoms li.e. no thange from 2¥231, whlch is still wdl below the capa¢ity of the sthool and the level of pupils the College has sustalned in the past: the recruitmentgoal will be to h5t the 8(MJ mark. The College is devdoping a longer-terrn strategy leadin8 to Its I5year annfversary in 2027. Thi5 could involve Investment In the Prcp school. adding capa(iiV to the senior sthool and a replament for the prefabricated Bowi¢k bulldlng. Taken together these inttiatlves would Increasè capaaty wnsiderably and enable the school to accommodate up to pupils. Funds for these projects are expected to come from a comblnation of donati0Tr5, sale of land and l or loans, as well as the cash surpluses the College genèrates durin8the period 2023-27. Based on the above eviden. there is a very reasonableexpectationthatthecollegewlll contlnuea5 a goir4g concorn for the next 12 months. FUNDRAISING REWEW As a reglstered charity the Charity is requlred to report on its fundraising a¢tiviUe5 in the financial year. In the yearto 31 Au8ust 2022, Ashvllledid not undertakeanydirethfundraisingand has not engaged any professional fvndraisers to work on its behalf. 20
Annual Report of the Governing Body acting as trustee forthe charlty, Ashville College, for the year ended 31 August 20221continued) STATEMENT OF GOVERNING BODY'S RESPONSIBILrriES The GovÈrnlnB Body, a5 the trustee of the Charwty, is responsible for prÈparing the Trustee's Annual Report and the ffnancial 5taternents In accordancèwTth applicable law and United Kingdom Actounting Standards IUnltÈd Kingdom Generally Accepted A¢¢ountin8 Practice). Thè law applicable to charltles In England and Wales requlres the Governors to prepare financlal statements for each finanaal year whlch glvè a tNe and fair view otthe state of affairs of the charlty and the group and of the incomlng resource5 and application of resources of the tharity and the Eroup for that perlod. In preparlng these flnanc4al statements, the Governing Body is required to- selert 5Ultable accounting policie5 and then app them consistently: observe the methods and prlnciple5 in the (harities SORP IFRS1021- makeludgmÈnts and estimates that are aSOnable and prudent,. state whether applicable accountlng Standards have been followed subject to any material departure5 dlsclosed and explained in the financS3l ststements: and prepare the financial statements on the going concem basis unless It is inapproprlate to presume that the charity will contlnue In business. The Governing Body Is rpOnsible for keeping proper accounting records that disdose with reasonable accuracy at any time the flnanoal p051tion of the thartty and enable them to ensure that the financial statements comply with the Charities Act 2011. appllcable accounting regulations and the provisions of the trust deed. They are also spOnSIble for safeguardlng the assets of the charity and the group and hen for tsking rea50n)ble steps for the prevention and detectlon of fraud and other irreeularrtles. The Governlng Body Is responsible for the MaIntenan and integrity of the tharity and flnancial information Included on the Charity's website. Legislation In the United Kingdom goveming the preparatltsn and dlssemination of financial statements may dlffer from legislation in otherJurlsdlction5. AUDITORS Saffery Champness LLP have expressed thelr willingness to remaln In offlce as auditors of the Charity. This DIrtorS repoit vras a proved by the G0mIng Body on 17 January 2023 and SiBned on their behalf bv: J CSEARCH Chair, A5hvllle College Trustee Umlted 21
Independent auditorfs report to the Goveming Body (as trustee) of Ashville College Oplnlon We have audited the financial statements of Ashvllle College Ithe'parent chariv) and its subsidlarles lthe'group'l for the year ended 31 August 2022 whlch comprise consolidated statement of flnanaal activity, the consolidated balance sheet, the consolldated cash flow statemeni and notes to the financial statements, induding signlficant accounting policies. The finandal reporting framework that has been applled in their preparation is applicable law and United Kingdom Accounting Standards, induding Finanaal Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited fingdom Generally Accepted Accounting Practice). In our oplnlDn the financial statements.. give a true and fairvlew of the state of the group and parent charitls affralrs as at 31 August 2022 and of the group'5 and the pareni charivs inrAYning resources and appllcation of resources for the year then ended,. have been property prepared in accordan Unlted Kingdom GenerallyAccepted Accountlng Pract1. and have been prepared in accor(lancewith the requlrements of the Charities Act 2011. Basls for oplni¢)n We conducted ouraudlt in accordancewlth International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responslbllities under those standards arefurther descrlbed in the Auditorfs iÈsponsibilitie5 for the audlt olthe flnancial statements section tsf our report. We are independent of the Éroup and parent charity in accordance wlth the ethlcal requirements that are relevant to our audlt of the financial statements in thè UK. including the FRCs Ethical Standard, and we have fulfilled our other ethical responsibilitles in accordance with these requirements. We believe that the audit evidence we have obtsined suffident and appioprlate to provlde a basis ftsr our opinion. Concluslons relatlng to goln8 concern In audltin6 the finandal statements. we have concluded that the trustees, use of the 8oln8 concem basls of accounting in the preparation of the financial statements Ls appropriate. Based on the work we have perfomied. we have not identified any matedal uncertalnties relating to events or cortdltlons that, indivldually or colleclively, may tast slgnrficant doubt on thè group or the parent charlivs abiltty to continue as a Eoln8 Concern for a period of at least twelve month5from when thefinandal statements areauthorlsed for issue. Our responslbilities and the responsibi1Stie5 of the trustees wtth respect to going conorn are descrlbed In the relevant sections of this report. othèr Informatlon The trustees are responsible for the other informatlon. The other infomation comprtses the inforrnatlon included In the annual report, other than the finanaal statements and our auditorfs report thereon. Our opinion on the flnancial statements does not cover the other informadon and. exp1 to thè Èrtent otherwise explicitly stated In our report, we do not exprÈss any fomi of assuran condusion thereon. Our responslbllity is to read the other Information and. in doing so. consitler whether the other Informatlon is malerla11y inconsistent with the financial statements or our knowledge obtained in the course of the audlt or otherwlse appears to be rnaterially misstated. If we identify 5uth materlal inconsistencles or apparent material mlsstatements, we are rUired to detemilne whether this give5 to a material mlsstatement in the finandal statemen15 themselves. If, ba5edon thework we have performed. we condudethatthere Ls a mateiial mi55tatem@nt of thi5 Other Information- we are requlred to repDrt that fact. We have nothlng to report in thls regard. 22
Independent auditorfs report to the Governlng Body (as trustee} of Ashville College (continued} Matter5 on whlch we are requlred to leport byexcep We have nothing to report In respect of the followrng matters in relatlon to whlch the Charlties IAccounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given In the Trusteeg Annual Report is In¢on5iStent in any material respett wlth the flnancial statements: or the parent charlty ha5 not kept 5uffiaent accounting records; or the parènt charl5 financlal statements are not in aEreement with the accounting records and retums,. or we have not retved all the infomiatlon and explanations we require for our audlt. Responslbllitie5 of trustees A£ explalned more fully in the Trustee5' Responslbilities Ststement set out on page 21, the tru5tee5 are responsible for the preparation of the flnancial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 55 ne¢e$5ary to enable the preparatlon of financlal statements that are free from mater131 mi5Statement, whether dve to fraud or error. In preparing the flnancial statements, the trustees are re5ponslble for assessing the group and the parent ¢harlVs abi1Sty to tontin(Je as a going concern, disd05in& as applicable, matters rèlated to going concern and usinB the golng oncern basls of accounting unle55 the trustees either intend to Ilquldate the group or the parent charity orto 8$e operatlons, or have no realtstic alternative but to do so. Audltor< responslbllltle5 for the audit olthefinandal statements We have been appointeé as audltors under the Charities Art 2011 and report in accordan wlth iegulatlons made under that Act. Our objectives are to obtaln reasonable assuran about whether the group and parent flnancial statements as a whole are free from material misstatement, whether due to fraud or error. and to Issue an audltorfs rewrt that Indudes our opinion. R@asonable assurance is a high level of assutance. but is not a guarantee that an aud conducted in accordan with ISAS IUKI will always detect a material misstatement when It exists. Misstatements can arise from fraud or errol and are consldered material rf, IndfvTdualW or In the awegate, they could reasonably be expected to influence the economlc Ileci5ions of users taken on the ba$15 of thèse financial sratement5. Irregularltles, including fraud. are instsnw of nonw(x)mpliance wlth laws and regulations. We deslBn procedures In line wlth our responsibililies, outlined above. to detect material misstatements In respect of Irregularities, Indudlng fraud. The speciflc procedures for this engagement and the extent to whlth these are capable of detetting irregularlties, Including fraud are detsiled below. Identtfying and asses51ng risks related to irre8ularltie5: We assessed thè susceptibllity of the group and parent tharis financial statements to Tnaterlal mls5tatement and how fraud might occur, Including through discussions with the trustees, discusslons within our audit team planning meetin& upding our record of internal controls and ensuring these contro15 Qperdted as intended. We evaluated Possible Incentive5 and opportunitie5 for fraudulent manipulation of the financial staiÈments. We identified laws and règulations that are of significance in the context of the group and parent charity by dlscussions wfth trustees and upclatlng our understanding of the sectOT in whith thegroup and parent d)arity operate. Laws and regulatlon5 Of direct signlfi¢ance In the contexl of the group and parent charity indude the Charities Act 2011, the Charities IAccounts and Reports) Regulations 2CX)8 and guidance Lssued by the Charity Commisslan for England and Wales. Further the charlty is sublett to other laws and regulations where the consequences of non- ompllance could have a materlal effect on amounts or disdosures In the financial statements. throuEh signlficant fine. lttlgation or re5trictlons on the charitys operatlons. We idèntified the m05t snIficant laws and reEul*ions to bè the Independent school Standards as found In the Education and Skills Act 28 and gUIdan Isslred by the Department for Education. 23
Independent auditorfs report to the Governing Body las trustee) of Ashville College (continued} Audit response to risks identified: We considered the extent of compllance with these laws and regulations as part of our 3udlt procedures on the related financlal statement Items including a revlew of financial statemènt disclosures. We rev1ewed the parent charivs records of brèaches of laws and regulatlons. minute5 of meetings and torrespondence bwth relevant authorlties lo identify polential material mls5tatements arlslng. We discussed the parent charl$ policies and procedures for complianceth laws and latIonS wlth mémbers of management responsible for compliance. Durfng the planning meetlng with the audit team. the eagernent partner drew attention to the key areas which might involve non-compliance with laws and regulations 01 ft3ud. We enquired of management whether they were aware of any instances of non-corllpllance with laws and regulations or knowledge of any artual, susperted or alleged fraud. We addressed the risk of fraud through management overrlde of controls by testlng the appropriateness of journal entries and identifwng any 5ignlficant transactlons that were unusual or outside the normal course of business. We assessed whether judgements made In making accountlng estimate5 gave rise to a possible indlcation of managernent blas. At the compleiion stage of thè audit, the engagement partnerfs revlÈw Included ensuring that the team had approache(l their work with appropriate professional scepticlsm and thus the capaclty to identlfy non-complian wlth laws and regulations and fraud. The are inherent limltations In ihe audit procedures desuibed above and the further removed non-compliance with law5 and reEulatlons is from the events and tran5athons reflected in the financial statements. the les% Ilkely we would become aware of it. 50, the risk of not dètecting a material mis5tstement due to fraud 15 hlgher than the rlsk of not detectinE one resultin8from error, as fraud may involve deliberate cOnalment by, for example, forgery or intentional misrepresentatlons. or through collusion. A further de5crlption ol our respon5ibilltie5 Is available on the Financial Reporting Counal's web51te at= www.frc.o uditorsres on5ibilltle5. Thls des(riptlon fomis part of our auditorfs rÈpo Use of our report This report is made solely to the parent charivs trustees, a5 3 body. in accordan with Part 4 Df the Charlties (Accounts and Reports) Regulations 2008. Our audwtwork has been undertaken $0 that we mlghl state to the parent charity trustees those mattÈrs we are requireil to stateto them in an auditorfs report and for no othw purpose. To the fullest extent permltted by law, we do not accept or assume ponSibIlity to anyone other than the parent charity and the parent charl$ trustee5 as a body. for our audit work. for thls report, or for the oplnlon5 we have formed. LLe Saffery Champness LLP Chartered Accountants Mitre House North Park Road Harrogate HGI 5RX Statutory Auditors Date: 8 February 2023 Saffery Champne55 LLP 15 ellgible to act as an auditor In terms of settn 1212 of the Companies Act 2(6 24
Ashville College Consolidated statement of flnancial activities Aor the yeurÈndèd31 August 2022 2022 2021 Notes fiJnd5 funds Incomlng resources Inromefrom ch017tobleortfvit Fees receable Less: S¢holaiships and bursade5 I29918 17383201 11869918 12,716,246 1989y7) 1913,6491 I25127) Net fees receivable J31.598 I25127? IL880,1)n 11.802,596 TdIng Income Bank and other interest sundry Income Donatlons/Grants 545258 67 545,258 67 2&65A 254237 313,756 441 123,889 38,322 L710 Z52X7 rotal Incomlng resourc•s 1i707292 11708.292 12,279,005 Reswrces eynded Costs of gen¢Mtlngfvnds Tradlng Expendlture Deprecratk)n [3232351 11051 1323.2351 11051 1200.3711 16491 13233401 13233401 1201,0201 Chtsrkthble uctlvlttes Teachlngcosts Welfare Prem15es Supportcosts Depreclatkjn Flnance and othercosts 6overnance costs Grant Losson dispusal of tsIble assets (7233,9571 IIW9222} 11.IM7.(VXII 11.961,1(@I 1763,0531 1847751 123587) 17,233,957} 16,837.iIMI 11079,2221 11,680.0701 IIW7.0901 1961.7421 11961.1081 11,581.0711 1763,0531 1780,5871 186,7751 152,1571 123.5871 111,5171 I1,0(j) 13.9581 25 Total resour$ expendetl 113318,1311 Ila318.131} 112,209,126) Net In¢omlnR rtMur¢qs 1fj108y91 1609.8391 69,879 Net movement Infvnds Trdnsfer between reserves Balances as ot i Septernr 2021 I639> If419B39} 69.879 17J41J32 30318 17,17W9 17,101,570 Balan¢és carrted loard at 31 ust 2022 16.530.IYJ 3L318 I661,609 17,171,449 The notes on pages 29 to 46 fomi part of these finandal statements. The tharity has no re¢oÉni5ed galns or losses other than the net rntsvemènt in funds forthe year. Al actrvtiles rÈlate to contlnulng operations. 25
Ashville College Balance Sheets
as at 31 August 2022
votes
Colte8e
2Q22
2021
2tr12
2021
Fbt8d assets
Intanglble
Tanglble
1¢westments
io
li
2034L963 20.580.2
20J38JI8
20yO,185
10,000
2034 20.580.2
20348,1
20,590.185
Ojrrent a558ts
Stocks
DebtOT5
Cash at bank and In hand
14
8.078
386,Q18
267.860
W,
Ashvllle College Consolidated cash flow statement for the yetsrended31 August 2022 2021 Netcash Inflowfrom operath¥ act1¥1$ 19 84323 1,774,970 Retum on Investments ar servid of flnan Interest recetved 441 Interest payable 150,028) 157,7581 1499611 157,3171 C¥pftal expendltur¢ and flnarKlal In¥e5trn Purchase of tanglble fjxed a55ets Proflton dlsposal of ntsIe flxed assets 1522,6461 1827,4101 1522W61 1827,4101 Flnanclng Repayment of cap1121 ÈlÈmErtcf bank knan Rep8yment of fin2ncÈ lease5 Capltal financlng 1247.2121 11316421 23.319 1238.8431 1125,6781 138,517 I3565) 1226.0(Ml In¢rease/ldecr¢asel In ¢ash durfngthe perlod 1844,9191 664,238 Cash balance brou8htforward Movement 22¥920 1844,9191 1.4W(X)i 1,588.6B3 664,238 2,252,921 sh balarrfe ¢arrtedforvrord 27
Ashville College Notes for the year ended 31 August 2022 fforming part of thefffjnonciulstutementsj Arwuntlng polldes The finan¢lal statements are prepared in accordancè with the Charitles Act 2011 and wtth the Charitie5 Statement of Recommended Practice I"SORP IFRS1021"l and Financial ReporDng Standard 102. Bos15 oluccounting The financlal statements are prepaied under the historl(al cost convention as modified by the revaluation of Investments at market value. Prepamtion oljlnanclqlstatements-golng conctm bos15 See Going Concern statement above. As in prevlous years, the principal uncertainty faclng the College is pupil numbers. Increaslngly, pressure5 on costs are bewmlng a concern. Thls indudes ener bills rfsinB due to Blobal political Instabiltty and wider cost of living pressures on faMllie5. However. enrolment numbers over in the current academic year 202V23 and hlgh partlcipation in marketin8events for23124 th the Goyemors reassurance thatthe College should maintain current Income levels. The ¢haritVs finandal position and perfom)ance has been oudined In the finanaal review above. The Governors have assessed projecled future income. expenditure andcash flows overthe perlod to December 2024, and analysed the 5tren8th of the charity's reserves and liquid assets and its ability to withstand a material fall in Incomlng resources. Conslderation has been given to prO1te<l pupil numbers. pupil- teacher Yatlos and all known and projerted costs In making this assessmenL The financlal performance of the College 55 rewewed monthly, and the cash flow is rewewed termly. by the Finan and General Purpose Committ. This level of scrutinyand the prudence built intothe forecasts mlnlfflises the risks relating to the cash flow forecasts. In the 118ht of all available evidence, the Governors have concluded that there Is a reasonable expertatlon that Ashwlle College and its subsidiary have adequate resources to contlnue their artitdtles for the foreseeable future. Accordln8ly, they ¢ontinue to adopt the going concem basls In preparingthe flnanclal statements. Funduccountlnq RestrScted funds represent grants. donations and lee5 whlch are allocated by the donor for 5pedfic purposes. Designated funds comprSse unre$ed fund5 whlch have been set asldé by the Govemors for particular purposes. The aiFll and use of each designated fund is set out In the notes to the financlal 5tstèmènts. Generdl undeslgnated funds represent unrestricted ino)me whith Is expendable at the dlscretion of the Governors In furtherance of the objects of the Charfty. Basls olconsolld•tlon The accounts have been consolidated to indude the Colleggs trading subsidiary. Ashville Trading Ltd. Inwme and expenditure from the trading 5ubsldlary are consolldated into the finawal statements on a line by Ilne ba51s. No separate SOFA has been PTesented for the Charttyalone, as permttled bysection 408 ofthe Companie5 Att 2006. AII flnanclal statement5 are rnade up to 31 Au8USt 2022. 28
Notes {continuedJ A¢¢ountln8 policle5 fcontinuedj Incomlng resources All income Is recognlsed In the statement of finanoal actiVTties when the conditions for 1pr have been met and there 15 reasonaF)le assuran of recelpt. Where a claim for repayment of income tax has or will be made, such Income15 grossed up for thetsx recoverable. The following accouTrtir policlas are applied to Income. Fee income represents fees for tuition and l)oarding provided to puplls during the year. Fees a accounted for on a receiwable basi5. Any fees recéived in advan are deferred. In¥tment income is accounted for when reiv3b1e. Tax recoverable relating to investment Income Is accounted for in the same period as the related income. Legary income induded when the charity is aifvised by the personal repre5entalive of an estate that payment will be made. and the amount inVoed can be quantified. Expendlture All costs ale allocated dlrertty according to thelrfvnctlon within the charity as follows: Charltable costs are those incurred in the daY4(daY running of the ¢ollege; Costs of generating fvnd5 are incurred In the raising and management of funds from other sour¢Ès. or funds segreBated forsp)eafic. deslgnatwl purposes; and Bovernance costs are those inujrred in fvifilllng the charitvs statutory obli8atlons. Cush and Ilquld resources Cash, for the purposes of the Cash flow statement. comprise5 cash In hand and deposits payable on demand, less overdrafts Fayable on demand. Stock Stod( is valued at the lower of cost less provlslon for obsolesceno and net realisable value. IntanglbleAlxed ossets omortisotlon Amortlsatlon Is provtded to WTite off the cost le the estimated resldual value of intangible ffixed assets by equal instalments over the estimated useful economic life as follows.. Teachlng resources 33% perannum Flxed ossets onddeptytiotlon Depreclation is provided to write off the costor revalued amount less the e5tlmated residual value of tanglble fixed assets by instalments over the estlmatod useful economlc ItFe as follows: Plant and fixtUTes 10- 20% per annum Vehides 20% perannum Computer equlpment 10-20% per annum Land Buildings 2% per annum Freehold land and bulldlngs were revalued at open market value for exlsting use at 31 August 1993 and havè not been updated sin. The charity has frozen the valvation of these assets as the equivalent cost. Investmeftjts All Investments are valued at market value at the balan sheet date. except the Investment in the subsidiary company which Is dlsclosed at cost. Any changes In value in the year are rèported in the Statement of Financl81 Artwvties, and historical costs are disclosed separately by way of a note. 29
Notes Icontinued) AccountlnK poltdes (continued) Crltkoj tyttounting judgements ondkey $LrCes oAesdmutlon uncertoiJJty In the application of the Ch8rlVs accounting policies. the directors are requlred to make judBements, estimates and assumptions about the carrying amount of assets and liabilitles that are not readily apparent frgm other source5. The estimates and associated assumptions are based on historical experience and other factors that are con5iderÈd to be relevarit. Actual results may dlffer from these estimates. The estimates and underlying as5umptionsare revied on an ongolng basis. Revisions to accounting estimates are recognlsed in the period in which the estimate is revised, if the revision affec15 only that period. or in the pÈrlod of the revision and future pcriods If the rewsion affects both current and fvture periods. There are no estimates and assumptio5Wh1th have a signiflcant ri5kof causinga material adjustmenttothe ¢arrying amount of assets and liabilities. Leuses Assets held Und hire purthase agreements are capitallsed and disdosed under tanglble fixed assets at thelr fair value. The capital element of the future payments is treated as a Ilability and the interest Is charged to tho profit and loss acwunt in proportion to the remaining balance outstandirE. Renta15 applicable to operatinB leases where substanlially all of the benefits and risks of ownershlp remain wlth the lessor are Charged against profits on a StraIt line basis over the pericxj of the lease. FlnancklJnstThments The Charity only has financial assetsand finandal liabilities of a kind thatqualfy &5 baslc financial instruments. Baslc financlal instwwnents are initlally renISed at transaclion value and subsequently measured at amortlsed cost. Enyployee benefts The costs of short-term employee benefits are recognlsed as a liability and an Èxpense, unless those costs are requlred to be rrfognlsed as part of the cost of stock or fixed assets. The cost of any unused holiday entltlement Is recogn15ed In the perlod in whidi the employee's services are received. Temiination benefits are re¢ognlsed immediately as an exper when the company Is demonstrably commltted to terminate the employment of an employee or to provide terminatlon benefits. GOVernt grants Government grants are Te¢ogni5ed at thè falr value of the asset rfved or recefvable when the Is reasonable assurance thai the Erant conditlons will be met and the grants will be recelved. Government grants relaung to Income are recognised as Incorne t)ver the peri¢xls when the related costs are Incurred. Grants relating to an asset are reco8nlsed in income systematically over the asset's expected usefijl life. If part of such a grant Is deferred it Is recOgned as deferred income rather than bein8 dedurted from the asset'5 carrying amount. Pension5 ttndotherport-retlrementbeneffts The tharity contrlbutes to group personal pension sthemes for non-teaching staff. The assets of the schemes are held separatèly from those of the college in independently administered fund5. The amount charged In the yearly finandal statements represents the contributions payable to the scheme in rèspect of the accounting perlod. The college also contributÈd to the Teatherg Pension Aqency superannuation sd)eme untll 31 August 2022, defined benefit scheme for Its teaching Staff. The assets of the stheme are held separately from those of thè school. Contributions pald durlng the year are tharged in the finanaal statements. The ¢harlty has applled the mulJ-employer exemption to account for the scheme as a defined wntribution scheme. The costs are charged directly to the statement of financial artNibes.
Notes (continued) Accountlns pollcies Icontinued) Tuxotion As the College Is a reglsterèd charity no provislon Is requiral for Corporatlon Taxation on the College's charltable a¢tivltie5. The College's subsidiary. Ashville Trading Ltd, is liable to corporatlon rrent tax is provldèd at amounts expected be paid lor recovered) usin8 the tax rate5 and laws that have been enacted or 5ub5tantively enacted at the balance sheet date. Fees rerelvable 2022 2021 YuTrtlon fees BoardSnE fees 10.751.749 l33666 11,021,(M)2 1,070.939 14088,615 12,091,941 Muslc tultlon Day pupils meals Le¥rning 5UPPOrt Otherfees znd char8e5 156,628 S81.784 135.619 457.121 6,635 24,930 12.869.918 1989,8471 11716,246 1913.6491 ess: Scholarshlps and irsar1e5. IIA80.071 11.804597 *£251527fvnded VI•$trtedfvndsf202l..E37,j Sundrylncome 2021 Rent recelvable Tuckshop tradlng profrt Other incDwne 4,800 1.349 117,740 21616 L242 28,658 123,889 31
Notes Icontlnuedl Tradlng Income The college owns 100% of the issued Share capital of A5hvilk Trading Limited (company re8iStratSon number 02617491 whith provlde5 Sports centre facilrtiÈs and lettin85 durlng holiday periods. The trading results exiracted from It5 audlted financial statements were- 2022 2021 Tumover Cost of sales Other Income 545,2S8 127B2001 168,349 1179,1591 l(Xl.032 Gross profft AdminL%tratyve expense5 Goverrbment Grants 2671159 19W7J 89.222 146,1721 45.375 OperaUnE profft L05s on dKikx)sal of tsV81b asset Interest payable & sirnilar charges ITJJ61 88,425 ILJ191 Net prollt lth tawad Tamatlofi charge 171.919 86.417 Retslrt wofitf0rthefin•aI year 171819 86A17 CWal8MI reseNes atywerrfl 170?05 11.1041 The aggrerdtsof the assets, IkbllSVes and fuvdswas: 2022 2021 Assets Llab111tles 2412 {703831 181656 1182,6701 Funds 170905 11,104 DOnaon$ Unrestrlcd Restrkted Totsl 202Z Totsl 2021 Donatlons other L710 252527 254.237 38,322 L710 252,527 2S4237 38322 32
Notes Icontinued) Expendlture 2022 2021 Charltable expendhur¢ Indude5'. Indemnity Insurance for Governors Operating lease expense in year GO¥eMan (0515 Include Audttols remuner%tlon Fees payable to the charliws auditor for the èudlt of the charitys hnanclal ateMerrt$ 3fv95 82,401 88An 16 14,750 Stsff costs of the college Wa8Ès and Salaries Social seLiJrty costs Apprentice levy Pen5Ion contrlbuth)n Healthcare 7Aill.820 675.774 17.821 IA182m6 6,634,114 623.943 18,113 1,107,048 3.304 8.780324 8,386,522 Key markasert Person1. 2021 Aggregate 5alarles of key management rSOnnel Ilnc. pension contrlbutkjnsl 610g 477.330 33
Notes Icontinuedl ExpendTture Icontlnuedl The number of ernoYeeS who* emolumenrs eXCeIed £60k was: Number Pen51oncantrlbutSon$ 2021 2Q22 2021 £60.(XM)- £70,[ £70.(MN). £80,(MxJ £80,(MK>- £90,(MKI £90.IYMI- £I¢M).IKN) £IM,O(KJ- £1 10,(X)O £1 io,O(X)- £120,(MK) £120,0. £130.(KX) £130,IKXI. £140,0(K) £140.(MX>- £150.0(X) 29.496 1&470 20,769 20,828 Pension contributions aro pald Into eitherthe TeacheTS' Penslon Scheme, whlch is a (lefined benef5tscheme, or Into a definj contribution occupational pernslon scheme. Neither the Governors ttor persons o)nnerted wlth them received any remuneratlon or other benefits from the College Or any connected organisation. in the current or prior year. other than relmbursement of out of ckèt expenses. which totalled £nll In the year12021: £801. Included in wages and 5alarfes above are redundancy payments of £2).(K(2o2l.' £129,464). The average number ofemployees during the year was: 2021 173 TéachlnB Welfa Premlses pport Tradlng 171 32 13 35 37 281
Notes (continued) Analysls of total resources expended Other and amtJrt154tlon Total 2022 Total 2021 Costs of generatlngfund5 Tradlng eXpendItre 221794 IWA41 105 323.340 201,020 lfy)M41 105 823A40 201,020 Costs of actlvltles tn furthernn¢e of tht chartvs oble¢ts TeaEhing costs WelFare Premises Suprt¢05ts Deprecladon 6,807.551 623,512 391.617 957, 426.406 1,255,710 655,473 I,Q)3.464 7J33.957 I9.222 1.047,090 1,9fj1,108 763.053 6,837,004 1,680,070 961,742 1,581.071 780,587 763,053 8,7WJJ24 3241J152 763.053 12,884A29 11,840,474 GovernCe costs nance and other costs OonatSon 23587 86,775 2387 86,775 11,517 52,157 loo,000 110,362 110,362 163,674 Totsl resources expeThled 9m.118 355i855 763.15B 13318,131 IL205,168 Prloryear Corywaratlve: Depredatlf otr a1 amortlsatl¢)n Total 2021 Totsl 202D Costs (rf¥enEratln8 fvnds Tradlngexpendlture 145,538 649 201,020 369,486 I458 649 201,020 369A86 CDsts of hItIeS In furtherance of the tharitrfs obJert5 Teaching costs Welfare Premlses Support costs Deprecratlon 6,514,912 589.762 379.628 2.221 322,(FJ2 L090,308 582.114 678A50 637,(#14 6,783,369 1.680.070 1,384,131 961,742 1,016.647 1,581,071 1,596,547 780.587 797,207 78Q.587 8A8O.523 2.6Ta361 IIA40N74 11,577.903 Govemare costs Frnance and othercosts Donatlon Loss on disFY)sal of tsnglble assets 11,517 52,157 I(,0 3.958 IL517 5Z.157 100,rAJo 3,958 13,473 172,263 200,000 I672 167.632 385,736 TL)tal resour5 expended S3161 9171 781,Z36 II209.126 12,333,126 35
Notes (continued) CorporatN)n Taxatlon The corporation taxation charge and yearnd liabiltty relate5 to the nLin-charitable trading artlvltle5 of the trading subsldlary, A5h¥llle Trading Lttl. 2021 Currenttam UK corporatlon tsx Adjustments In respert of OryearS UK cOrTatIon tax The rate of current tax for the year, based on UK standard rate of corporation tax for small cOrnpanI Is 19%12021: 19%). The artual taxchargeforthecurrentye3r and the previous year dlffers from the standard rate for the reasons set out in the followln8 reconaliation. 2021 Proffton ordlnaryactiv1ueschargeabtOCorpord0n tax 171J19 86,417 Expected tsx charge at 19%1202LTr. 19%) Factors afferting the charge forthe yeai- Depredatlon In excess of Capital Alk>wèr short ierrn timlng dlfferenc L055es carried forward ¥661 16,419 741 328 116,7471 CorFM)ratloDTaX payable preftaI donatkn I21 Glft al(1 DlstrlbJdon tJJ be made (22511 CoipK)ratlonTax parable post-81ft a1 donatbn Inian8lble Flxed Assets All Intsn8ible fixed assets are held in the trading subsidlary.. Teathlre Iteswr At beglnnln8 oftheyear Addltions At end of the year AmortlsGtIo At bÈwnningolthe year Charge for the year Atend gf thèyear At 31 Auw5t 2022 At 31 August 202L 3S
Notes (continued) io. Tanglble fixed assets CON50UDATED Asset under cr5e of Freehold Computer Flxtu Mant Jond and Equlwnert And And ¥ehldes IlIdIng$ Flttlw Mathlnery Tthl Costor valutttlon At beglnnlng of year Addith) DlswsaLs Transfer to other category 768.857 25.543.037 9,767 3T3.558 2.431.314 2A>99,900 56.495 47,626 16341 613,986 28.855 57,083 31.$14,178 8,530 524,831 15.9631 16,5971 1753.29)) 753.290 Atend of year 25.334 26,669,885 2.487.810 2.146,892 641842 59,650 32.031412 Depreclotlon At beglnnlng Df year Charge lor yeai Oisp¢15a15 Transferto other tategory 6,538,011 518,743 1.946.041 1,789,192 164.922 70.652 16341 603.561 8A41 57,083 10,933.888 763,158 16,5971 15.9631 At end otyear 7.056,754 2,110.963 IA59,210 612,402 51,120 11.690N49 NetlMok wlue At 31 August 2022 25W4 I913.131 376 287M2 30A40 8,530 Zo,34168 At 31 August 2021 758,857 19,(1)5A126 485273 310,708 10.425 20,580,290 Assets under constrnrtlon Include initlal scoping for development of the Greenholme boardlng house. Translers to other categories indudes the completion of the dlning room prole¢t1£567kl and thè new laundry building1£166kl All tangible fMed aets are used for direct charitable purposes vrith the ex¢eption ofthe assets within the trading subsldlary. These are analysed as follow5.. Net Ih)ok value at 31 2022 Astet under MDtor hkles Total land and And Math[rV Charflab College 2S334 19.613.131 30J40 4530 20,338,118 Other Tradln8 1,845 25,334 19.614111 287M2 30 20J44963 All freehold land Is Include(J wtthin AShlIe College. No depreciation has been piovtded on freehold land, whlch has been Induded at a valuation of £4,367,1441202L- £4,367,144). 37
Notes (continued) io Tangible flxed Assets (continued) COLLEGE Assei under Freelxjld Comwter FIKture5 nt course land and Ewlpmert And And cOnstrlI0n IlId Fttln8s Mathlnery Motor vehl¢les Totsl Costorvulwtion At begfjnnlng of year Additions D15posals Transfer to other category 768A57 9,767 25543.037 37358 2A29.510 56.495 1081W6 43,780 16341 613386 285 57.083 31.494,370 8,530 520.985 15,9631 16,5971 1753,29)) 753.290 At end of year 25,334 26.669.885 2,486.5 2,125,042 642.842 59,650 32,(K)8.758 IkpreclotlE7 At beglnnlng of year Charge for year Dtsposals Transfer calegory 6538,010 518.743 1344,342 164.817 1.771.189 70,652 16341 603,561 8.841 57,083 10,914,185 763,053 16,5971 15.9631 to other Atend of year 7.056,754 2.109.159 L841,2C 612.402 51.120 11,670.641 r4d book le At31 Augurt2022 At 31 August 2021 25¥ 19,613,132 768,857 I9,(5,026 376W6 485,168 28J,8Y4 310.707 &530 20338.118 20,580,185 10,425 The historital cost of revalued freehold land and buildings wrihin ColleEe Is: 2021 Hlstodcalcost Accurnulated depreaation 2,077,929 {836,3531 2,077,929 1794.7951 Ht0C81 cost net 0k¥a[e 1241.576 1.283,134 The net Carrying amount of assets held under finan leases at year end Is £161.21212021.' £165.9001 ii. Investments Consolldattd Total COlle Total marketVal at I SepteMr 2021 10,000 Marketvalue al 31 Au8ust2022 iO,(M)O Anatysed a5 Investment in subsldlary iO,(x)O Totsl io,( 38
Notes Icontlnued) Debtors College 20Z2 2022 2021 2021 Fee and trade debtors Amounts owed by subsldlary undertakxng Taxation and So(k?I Secutlty Other debtors Prepayments 29,168 20.766 27.2LKI 24,740 104.607 149A171 21,019 157,276 23.418 51,337 159307 Z4.740 105,605 149A171 23,418 55.967 159.307 326 41 13. CredltorL' amounts falllng due wlthln one ye•r Colk8e 20ZZ 2Q22 2021 2021 Other credltors due wlthln l ye comprfse: Tax3tbn and sodal 5ecurlty Other credhors Lease A¢crui15 195215 163,(M)6 I7617 30L798 27329 426230 150.447 471,021 131679 593,223 27329 431.61fj 132,679 597,937 BaTrk loans In 2012113 the Board approved a £1.2m loan faality wtth HSBC in order to part flnance the refurbishment of the S(thI11 Hall. In 2014115 in addition to the standard monthly payments, £400k of ihe princlpal was repaid, followinE the sale of one of the College'5 sidential propertles. The loan wa5 inttially for a tèrm of ten years. On 9th Ottober 2018 thls loan was refinanced with Uoyds Bank and the HSBC loan was repaid in fvll. The HSBC loan was secured on two re5identlal properties owned by the College,. on 9th October HSBC released their charge over the properties and Uoyds were grnnted a new charge over the same two residential buildings. At the time of refinanun8 the loan balance was £320k. In 2016117 the Board approved a £2.Om loanfacilitywith Lloyds Bank in order to finan part of the contract to refUrbh the sports centre. The loan Is repayable over 10 yea15 from initial drawdown In March 2017. Interest on the loan is on a Wdriable rate of 1.95% abt)ve the Lloyds Bank Base Rate until january 2019: at that polnt the loan converted to a flxed interest rate of 3.49% untll the balance fully repald. The follon8 bank loan security is in Pla.. An unlimited all monies guarantee from A5hvllle College Trustee Ltd. An all monies guarantee from A5hville Tradin8 Ltd for a principal amount of £2rn plus interest and other costs. 2021 Repayable Wlthin one year Between one and two years Between two and fve years In more than five years 2610n Z69A38 252.482 259,872 826,465 178,422 7028 1,517,241 39
Notes Icontinuedl 15. Paymeb)ts recel¥ed In advan College 2022 2021 2D21 Advante fees After 5years Wlthin 2to 5 years Wlthln I to 2 years 34,584 66,485 6.868 6.868 6,868 Vllthln lyear Advance fees Payments on account Deposlts 9fj79 45,(X)3 9679 88 1282232 2.J8Iy8 245,665 242,VJ8 Z42390 45,(KJ3 2,282,232 242,698 7Z5M2 2,569,933 2,7Z2357 2.569,933 18Z6.7(KI 2.576,PA)I 223A2S 2,576.801 Payments recelved in advancelndudes fee deposirs, payments on account in respert ofthefollowlngterm's fees and advance fees where parents enter into a contract to pay to the school several years, fees In advance. The money relating to advan fees may bè retumed subjett to specific cOndiOnS on the reIpt of one term's notice. The above assumes these pupils will remain In the school. The balance represents the a¢crueil Ilabllity under the contracts. The movemertts duri the yeor were: Balance at I September 2021 Fees In advan& for 2022123 Fees In advarn for after 2022n3 Mowemerton dep)5its Amounts utili5ed ill payment offees 1576,80L 2,479,967 1,068 13081 12,334,103) lan at31 August 2022 2325 16. UndeslBnated funds ReVaallOn reserve Retalned jrpIses a¢count Consolldated Total Balance at I SeptembeT 2021 Surplus from statementof fftnarKblaciwitse5 Transfer Eetween funds 5359960 IL771.9)4 1610.839 102,567 17.131*63 I61059) 1102.5671 Balance at 31 Aw5t 20ZZ 5357392 11263,632 16.521,24
Notes IcontAnuedl 16. Undeslgnated funds {continued) Revaluatlon Retalned reserve surpluses ac¢ount CoHe8e Total Ba at I September 2021 IruS frorn statement of flnandal actfvll*s Transferred from desi8nated reseThes TransFer between fvnd5 5.359.959 11,781918 1782,7581 17.14Z.877 1782.75B} 1102,567) 102.567 BalarKe at 31 August 2022 5257392 11.IOZ.728 16.360.119 17. Otherfunds Balan 31.Au8Ql ¢t801 Tran5feTtol from Balance 31-AuK-22 Cokwlldated RÈstrictÉd IncomÈfund$ prlze Fund Annual Fund Rev Morton Fund Foundztlon Other 5,(X)D 25,318 25,318 25127 1251.5271 I,(hJo 30318 252.527 1251,5271 31,318 Unrestrlcted kKorne funds Oeslonotedfvnds Homerton fvnd 9.269 9,269 De51gnated fund5 9,269 9,269 UNleslgnated funds 17.13L863 1610,8391 16,521.023 TDtsI funds 17.171,449 13583121 1251527) 16561,610 41
Notes (continued) 17. Other fvnds {continuedJ Balar OuQOln8 Transfertol from Balafice Colle8È 31-IW21 Iwiml 31-Au8-22 Restrkled Income fuN15 Prlze Fund Annu81 Fund Foundatlon oiher 5,¢KO 25,318 25,318 251,527 1251.5271 1,000 30.318 252,527 1251.52n 31,318 Unrestri¢ted Incomefund5 Designatedlund5 Homerton hjnd 9,269 9,269 Desl£rtatedfund5 9,269 9,269 UrKle5iEnat¢dftsrtds 17.142,877 1782.7581 16,360,119 Toial funds 17.182,464 1530,2311 1251,5271 16,4(K>,706 The purposes of these funds are: The Prize Fund Indude5 don81ions to the College to fund speech-day prlzes,. The Ann¢Jal Fund ts made up of numerous small donations received durin8 the year from the Friends of Ashvlllè and from alumni. The Annval Fund will fund the purchase of various iterns for Use across the College; and The Hornerton fund cornpri5es a donation to thè charlty which ha5 been set aside for the specffic purpose of Èncoura&ng pupils to applyto Oxford or Cambridge Univwsltles. Other- A donatlon of Él,((Q was madetowards an Amateur radlo club fri)m an old Ashvllllan. 42
Notes Icontinuedl 18. Analysls of net assets between lunds Consolldated Unreed Unrestrkted funds fund5 dmrted designated Re5trlcted funds Total fund5 Funds balancts at 31 Au8U5t 2022 represented lry Tav8ibk fixed assets Intangible fixed assets Current assets X>,341,963 20,341,963 1.767.643 15.588.584) 9,269 3L318 1,808,230 15.588,5841 Totaln¢tassots I62022 9,269 31318 16,561.609 College Vnrestrkw Unrestrtded Restrltted fund5 funds fund5 Its$1¥ted desig1ted Totsl Funds Funds balarKe5 at ai AuRUSt 202ZJfy rppre5entsd bv Tangible Ilxed assets Invesrments Cuirent assets Lkbllilles 20,338.117 lo, 1.557,402 15,545,400) 20.338,IL7 io,r 1,597,989 (S,545,4) 9.269 31,318 Total net BSSets 360.1 31,318 16AOO.706 Prforyear Compardtvm: Consolldated Llnre5Ir IlnrÈsbltted Re5trkted fuThJs fun& funts unignoted de5WnQted Tolal fvnds Fund5 tsaranat 31 August 2021 are re[e$ted bv Tangible Ilxed aets InianeSblÈ flxed assets Current assets Llabilttles 20,580.290 20,580.290 2.489.271 15,937,699) 9,269 30,318 2.528,858 15,937,699) Totsl netassets 17.13162 9269
)318 17.17L449 Cdlege Uwestritted Unyestrfrted Re5trlcted funds funds funds ufi•tYred de*gnoted Total funds Funds balances at31 Au8usI 2021are rewesented TanglNe f]xed a¥ets Investments Cuirent assets ijèbllitles 20M).185 iO,(%K) 2,464,997 15gJ2.3051 20,580.185 10,000 2,504.584 15912,3051 9.269 30,318 Total net aS5pts 17.14U77 9269 30.318 17.IB2,461 43
Notes {continued) Reconciliatlon of reTRnue surplusto net ¢ash Inllow from operatingactmtles 2022 2021 Net Incoffllns resources forthe year Interest received Interest pald AmortlsaUDn of intsnoble fixed assets Depreclatbn of tan8ilAe fixed assets IProfrtl l Loss on dposal Df fixed a55ets Iincreasel / Decrease in stcKk Ilncreasel / Decrease in debtors Increase I(De(rSe] In creditors 1609,8391 1671 50,028 69,879 14411 57,758 763,158 634 16,1331 1118,1581 781.236 3,958 7,862 27,650 827,067 Netcash Inflow from operatlng athties 84,223 1,774.969 Lease c4Jmmltments At the year end, the Chadty had outstanding commitments for tUre minimum lease payments under non- cancellable operating leases and finan leases whith fall due as ft>ll¢)ws'. 2021 Operatlw Le85e$ within one year Between one andflve years AfterleVears 70379 7L187 97218 179352 168005 2021 Flnance Leas Within one year Bets¥een one and flve years After fl¥e years 27J29 132,679 33.219 33.257 165,WJ8 21. FlnancSal Instruments 2022 2021 Carrylwamounl of Iltsandal assets bneasured at amrtlsed cost 107JZ7 29,168 Carylng aont0f financ1 Ikbllltie5 mea9Jredatarnortised cost 1930.764 2.278,783
Notes Icontinuedl 22. P•nslons The College fvlly exlted the scheme as at the 31st August 2022 and has now enrolled all teachlng staff into MIST gr¢Trup defined contribution scheme administered by Legal and General insurers. This Is expected to generate sawngs of more than £250k perannum on employer ¢ontribution5 based on the TPS current rate of 23.68% The charity also contributes to a group personal penslon scheme for 5UPPOrt staff linduding the Staff of Ashvllle Tradlng Ltd),. these costs are charged direcdyto theincome and expenijiture account. Support staff contribute to one of two money purchase pension sthemes. ThÈ assets of these scheme5 are held separately from those of the College In Independentiy administered funds. The penslon charge for the year for these schemes amounted to £112,67112021.' £105.5791. 23. C¢nsolldated statement of flnandal actl¥lt4esforthe yearended 31 August 2021 Llnrestrfcted RÈ%cted lunds Z021 2020 In¢omin8 resour5 Fees re1vable Le55- SchoLBrshlps and bursarles 11716246 1875W4 12.716246 12,652,213 {913.6491 11,I(X).7591 {27W21 Net fees recefvable IWOW9 137.8ozI 11.WIZ59Y 11,551,454 funds Tradlng inrotne Bank and other Interest Sundry Income DonatlonslGrants 313.756 441 a.756 441 123,889 38,322 379.875 3,947 456.213 64,292 Total tncarnln8 1PrCeS 12279A 12,455,781 Resour expended Costs of perterotlrtofvnds Tiadlng expendlture Amortlsatlon of Intanglble Assets Deprec12tknn {21KIJ711 Iz(K13711 1366.7891 11.5551 11,1421 16491 16491 1201,0201 12W,0201 1369,4871 Chtsritoble t7th1tl Teachlng costs Welfare Premtses pport costs Depfeclatlon nance and othercosts Govemance costs Grant ILossl/proflton dlsposal of tangIb a I67104) li.))70} 19647421 11.58WiI 16837,OiN} 16,783,369) I1.680?0) 11,384,132) 1961.74ZI 11,016,648) I11.071) 11,596,547) 1780.5871 1797,2071 152.IS71 1172,2631 111,5171 113,4731 I2,000> 7.064 152.1571 111,517) {loo.ol 13,9581 13,9581 To¢al resou$ expended 1122(ts.1261 I122(8,1261 112,326,062) Net Incomlng re50ur 129,719 Net movement In funds Transfer between reserves Balances as at I September 2020 6979 129,719 17mlA53 30318 17.101,570 I6,9711 Balan5 arrled fonyard at 31 August 2021 17A41.J32 303 17.171A49 17,101,570 45
Notes Icontinued) Related party transactlons At the end of the year the College Wd5 oweil £27,212021. £J57.2761 from Ashvllle Tradlng Ltd In the year the College spent £1.6 wlth Willlam G Searth 12021.. £28,8841. a cornpany Df whith one of the Govemors is a director. Governors, expenses in theyear were £nil12021: £801. The College r1ved £251,527 12021.. £37,802) from The Aslwille Foundation,. this was used to fund bursaries for current puplls. The balance wlth A5hthlle Foundatlon at the year end w35 £8.341 {2021: £143,704). Included In other credltors. 25. Rrystered Address The registered address of thè Charity and Ashville College Trustee Lirnlted15 Ashvllle College, Green Lane, Harrogate, North Yorkshire. HG2 9JP. Ashville College Trustee Limited is registered in England and Wales wlth the company number 4552232.