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 t￿￿ee 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 ￿h￿lIe 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 eTh to thÈlull Govemlng Body- cash planningand contrd of assets: o%trseeing L￿r0￿1r¥s. knk loans, aTrJ investments: scrutlryof Ca￿ts1 expeDdiiure requests and fina￿ts1 projecdons re&ardingtlkstratsBSc deve￿￿neTht pkn,. and eAsu￿n￿lmP1emenIatIOn of sound Internal finatKial corrtrols and 0￿uresand ￿beW of allfinanclal regulatory requlreThents. Édur3tlon, Enrfchmert & Weware Meets tWKe wrterrn to: ¢knmlne, Implement and sustsii the forrnal and informal Cum￿lum for t￿three schoo15 maklngup the CollegÈ,' rnaiAtsin and, where possStle. Improve the standards of pupils, academlc and other achfje¥ernents,' and enyjre the o)hererKe of the pastoral and currlculum phllosophles throu8houtthe school. to ease pupilg p35Sa8e frorn keysth2esand from % tD class th￿UghOut￿￿ College. fj0¥erna￿P & Nornlnatlons Commlttee Meets eachtem to.. review and approve pay r￿ and MOVe￿￿nts up the leadershlp scale for key W￿nageme art as a mminatK)ns panel for new Goverrtrors,. and tske th2 lead in the aptx)Intrnent of senlor management a5 and when required. All sub-commlttees are chalred by a Dlrector. wtth membership embracing a combination of Governors and approprlate merrbers of senior management At every meeting Govemors are asked to disclose any confllct of Interest,. every agenda also indudes safeguardin8 as a standin8 Item. io 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 pla￿d 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 Co￿l￿ered 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 Ash￿IlIanS, the Methodlst (hurthl without loslng Its Independence, the Board does not yet have a formal d￿erSIty 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 aCt￿l￿@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 In￿nt1¥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 eXPe￿en￿. 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 pe￿onnel and staff costs are the larBest slngle elèment of our Charitable expenditure. Group Structure and Relatlonships The Charlty has a wholly owned, nonrtthis 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 r￿fOrecaSt 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- Repl3￿ment 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, b￿15 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 2022￿hVj1leTrad1￿ghad 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 redu￿5 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 ex￿lIentl3ke-upfQr Year 7 raster day, on the 12th November. The cashflow for September 2023 onwards ￿flects a pmdent aSsuMpt￿n 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 I5￿year annfversary in 2027. Thi5 could involve Investment In the Prcp school. adding capa(iiV to the senior sthool and a repla￿ment 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 r￿pOnsible 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 DI￿rtorS repoit vras a proved by the G0￿mIng 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. ex￿p1 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 r￿Uired 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 charl￿5 financlal statements are not in aEreement with the accounting records and retums,. or we have not ret*ved 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 thari￿s financial statements to Tnaterlal mls5tatement and how fraud might occur, Including through discussions with the trustees, discusslons within our audit team planning meetin& upd*ing 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 s￿nIficant laws and reEul*ions to bè the Independent school Standards as found In the Education and Skills Act 2￿8 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 compliance￿th laws and ￿￿latIonS wlth mémbers of management responsible for compliance. Durfng the planning meetlng with the audit team. the e￿agernent 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 cOn￿alment 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 sett￿n 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 rece￿able Less: S¢holaiships and bursade5 I2￿9918 17383201 11869918 12,716,246 1989y7) 1913,6491 I251￿27) Net fees receivable J31.598 I251￿27? IL880,1)n 11.802,596 T￿dIng 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 ts￿Ible 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 Septern￿r 2021 I6￿￿39> If419B39} 69.879 17J41J32 30318 17,17W9 17,101,570 Balan¢és carrted lo￿ard at 31 ust 2022 16.530.IYJ 3L318 I6￿61,609 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, {229,1ts1 1163,6061 {968,(WI 11.368A411 P61ml 12520821 12,72ZB571 12.569,9331 1224317) 1159,2821 1932,9731 11,347.3701 I261￿25 1252,4821 14 14.184.X81 14J54.4611 {4.141,5201 14,329,067) Net current Ilabllttles J759481 IL825,6041 I2￿43,531) 11,824,483) Credltors omovnts fvlllng due ofter ￿e veur Advance fee payments Othercredltors Bank loan IioU681 16A68 1294.6571 1311.6121 (LO￿.￿6) 11,264.7S91 li￿,068) 6,8681 1294,6561 1311.6111 I£￿,1$6} IL264,7591 14 Total net amets 16561.fj09 17,17¥448 16A(KI,706 17,182.464 Fund5 Unrestrlcted funds un-desiunoled un￿strICted funds de￿￿￿ted Restrithed funds 16/18 17 17 11652L0221 117,131,861) 192691 19.2691 1313181 130.3181 116,360,119) 117,142,877) 19.2691 19,2691 1313181 130,3181 Totsl lunds 116561AthI 117.171A481 {16AOO.7061 117,L82.4641 Approved by the Gove Body on 17January 2023 and signed on their behalf by- J C Search DIKector. Ashvllle College Trnstee Llmited 26 Ashvllle College Consolidated cash flow statement for the yetsrended31 August 2022 2021 Netcash Inflowfrom operath¥ act1¥1￿$ 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 ￿n￿tsIe 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 I356￿5) 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 prO1￿te- £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 defin￿j 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 eXpendIt￿re 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 Sup￿rt¢05ts Deprecladon 6,807.551 623,512 391.617 957, 426.406 1,255,710 655,473 I,Q)3.464 7J33.957 I￿9.222 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 Gover￿nCe costs nance and other costs OonatSon 23587 86,775 23￿87 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 ot￿r a￿1 amortlsatl¢)n Total 2021 Totsl 202D Costs (rf¥enEratln8 fvnds Tradlngexpendlture 145,538 649 201,020 369,486 I45￿8 649 201,020 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 6*37,(#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 Govemar*e 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 I67￿2 167.632 385,736 TL)tal resour￿5 expended S￿31￿61 91￿71 781,Z36 II209.126 12,333,126 35 Notes (continued) CorporatN)n Taxatlon The corporation taxation charge and year*nd 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 cOr￿TatIon 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 ordlnaryactiv1ueschargeab￿tOCorpord￿0n 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 pre￿ftaI￿ donatkn I2￿1 Glft al(1 DlstrlbJdon tJJ be made (22*511 CoipK)ratlonTax parable post-81ft a￿1 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 c￿r5e of Freehold Computer Flxtu Mant Jond and Equlwnert And And ¥ehldes I￿lIdIng$ 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 I9￿13.131 376￿ 287M2 30A40 8,530 Zo,341￿68 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 a￿ets 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[r￿V 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 ASh￿lIe 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 cOnstr￿lI0n I￿lId￿ Fttln8s Mathlnery Motor vehl¢les Totsl Costorvulwtion At begfjnnlng of year Additions D15posals Transfer to other category 768A57 9,767 25543.037 373￿58 2A29.510 56.495 1081W6 43,780 16341 613386 28￿5 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 ￿l￿e 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 H￿t0￿C81 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 COll￿e Total marketVal￿ at I SepteM￿r 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 I76￿17 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 refUrb￿h 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 follo￿n8 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 70￿28 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 9fj￿79 45,(X)3 96￿79 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 2*23A2S 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 cOndi￿OnS on the re￿Ipt 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 2￿3￿25 16. UndeslBnated funds ReVa￿allOn reserve Retalned jrpI￿ses 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 I610￿59) 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 Ir￿uS 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 25,318 251￿27 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 Unre￿￿ed Unrestrkted funds fund5 d*mrted 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 I6￿2￿022 9,269 31318 16,561.609 College Vnrestrkw Unrestrtded Restrltted fund5 funds fund5 Its￿$1¥￿￿ted desig1￿ted Totsl Funds Funds balarKe5 at ai AuRUSt 202ZJfy rppre5entsd bv Tangible Ilxed assets Invesrments Cuirent assets Lkbllilles 20,338.117 lo,￿ 1.557,402 15,545,400) 20.338,IL7 io,r 1,597,989 (S,545,4￿) 9.269 31,318 Total net BSSets 360.1 31,318 16AOO.706 Prforyear Compardtvm: Consolldated Llnre5Ir￿ IlnrÈsbltted Re5trkted fuThJs fun& funts un*ignoted de5WnQted Tolal fvnds Fund5 tsaran￿at 31 August 2021 are re[*e$￿ted bv Tangible Ilxed a￿ets 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 17.131*62 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 d￿posal Df fixed a55ets Iincreasel / Decrease in stcKk Ilncreasel / Decrease in debtors Increase I(De(r￿Se] 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 Afterl￿eVears 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 a￿o￿nt0f financ￿1 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 resour￿5 Fees re￿1vable 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 1P￿rCeS 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 I6￿7￿104) li.￿))70} 19647421 11.58WiI 16837,OiN} 16,783,369) I1.680￿?0) 11,384,132) 1961.74ZI 11,016,648) I1￿1.071) 11,596,547) 1780.5871 1797,2071 152.IS71 1172,2631 111,5171 113,4731 I2￿,000> 7.064 152.1571 111,517) {loo.o￿l 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 69￿79 129,719 17mlA53 30318 17.101,570 I6,971￿1 Balan￿5 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 £27,2￿12021. £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 r￿1ved £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.