2023-08-31-accounts - Ashville College

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Governors, officers and		advisers
Report by the Governing		Body acting as trustee	for the charity, Ashville	College	4-19
Statement ofthe Governing Body's responsibilities					20
Independent auditor's	report to the Governing		Body (as Trustee) ofAshville College		21-23
Consolidated statement		offinancial activities			24
Balance sheets					25
Consolidated cash flow		statement			26
Notes					27-45

Finance &General Purposes	Finance &General Purposes	Finance &General Purposes	Meets twice per term to:
Committee			monitor the non-teaching functions ofthe College, including estates,
			buildings and land, transport, cieaning, catering,		human		resources,		IT	and
			health &safety;
			review the financial statements and performance against				agreed	budgets;
			scrutiny ofthe annual accounts and the annual		budget before
			presentation to the full Governing Body;
			cash planning and control ofassets;
			overseeing borrowings, bank loans, and investments;
			scrutiny ofcapital expenditure requests and financial			projections
			regarding the strategic development plan; and
			ensuring implementation ofsound internalfinancial			controls and
			procedures and review of all financial regulatory		requirements.
Education,	Enrichment	8 Welfare	Meets twice per term to:
Committee			determine, implement and sustain the formal	and informal curriculum						for
			the three schools making up the College;
			maintain and, where possible, improve the standards			of	pupils' academic
			and other achievements; and
			ensure the coherence of both the pastoral and		curriculum		philosophies
			throughout the school, to ease pupils' passage		from	key	stages and		from
			class to class throughout the College.
Governance	LNominations		Meets each term to:
Committee			review and approve pay rises and movements	up the leadership				scale		for
			key management;
			act as a nominations panel for new Governors;		and
			take the lead in the appointment of senior management				as and when
			required.

for the year ended	31	August 2023
				Unrestricted	Restricted	2023	2022
			Notes	funds	funds
incoming resources
Income from charitable		activities
Fees receivable				14,117,387		14,117,387	12,869,918
Less: Scholarships and bursaries				(1,016,623)	(1D3,487)	(1,120,110)	(989,847)
Net fees receivable				13,100,764	(103,487}	12,997,277	11,880,071
Incoming resources	from generated
funds
Trading income				670,512		670,512	545,258
Bank and other interest				5S		58	67
Sundry income				45,742		45,742	28,658
Donations / Grants					103,937	103,937	254,237
Total incoming resources				13,817,076	450	13,817,526	12,708,291
Resources expended
Costs ofgenerating	funds
Trading expenditure				{398,919)		(39$,919)	(323,235)
Depreciation				(769)		(769)	(105}
				{399,6&S)		(399,68$)	(323,340)
Charitoble activities
Teaching costs				(6,819,866}	(5,933}	(6,825,799)	(7,233,957}
Welfare				(2,090,285)		(2,090,285 1	{1,879,222)
Premises				(1,323,371)		(1,323,371)	(1,047,090)
Support costs				(2,197,551)		(2,197,551)	(1,961,108)
Depreciation				(6&9,444)		(6S9,444)	(763,053)
Finance and other costs				(9D,330)		(90,330)	{86,775}
Governance costs				{16,900}		(16,900}	(23,587}
Loss on disposal oftangible assets				{61,952)		(61,952)
Total resources expended			6/7	(13,689,3S?)	(5,933)	(13,695,320)	{13,318,132)
Net incoming resources				127,689	(5,4S3}	122,206	{609,841)
Net movement in funds				127,689	(5,483)	122,206	(609,841)
Transfer between reserves
Balances as at 1September 2022				16,530,291	31,318	16,561,609	17,171,449
Balances carried forward August 2023		at 31		16,657,980	25,835	16,683,815	16,561,608

					Nates	Consolidated		Coliege
						2023	2022	2023	2022
Fixed assets
Intangible					9
Tangible					10	20,036,465	20,341,963	20,033,388	20,338,118
Investments					11			10,000	10,000
						20,036,465	20,341,963	20,043,388	20,348,118
Current assets
Stocks						13,510	14,211	13,203	13,909
Debtors						349,072	386,018	31D,613	326,3S3
Cash at bank	and in	hand				1,301,609	1,408,001	1,D2&,811	1,257,696
						1,664,190	1,808,230	1,352,627	1,597,988
Creditors amounts		falling	due within	one
year
Payments received		on account				(2,431,919)	(2,725,632)	(2,428,644)	(2,722,357)
Trade creditors						(108,331)	(229,119)	(104,740)	(224,317)
Other creditors					13	(941,773)	(968,080)	(905,767)	(932,973)
Bank loan					14	(273,217)	(261,872)	{273,217)	(261,872)
						(3,755,239)	(4,184,703)	{3,712,367)	(4,141,520)
Net current	liabilities					(2,091,049)	(2,376,473)	(2,359,740)	(2,543,531)
Creditors amounts		falling	due after	one
year
Advance fee	payments					(36,392)	(101„068)	(36,392)	(101,068)
Other creditors						(481,514)	(294,657)	(481,514)	(294,656)
Bank loan						(743,695)	(1,008,156)	(743,695)	(1,008,156)
Total net assets						16,683,815	16,561,609	16,422,048	16,400,706
Funds
Unrestricted	funds	un-designated			16i'18	(16,648,711)	{16,521,022}	{16,386,944)	(16,360,119)
Unrestricted	funds	designated			17	(9,269)	(9,269)	(9,269)	(9,269}
Restricted funds					17	(25,835)	(31,318}	(25,835)	{31,318)
Total funds						(16,683,815)	(16,561,609)	(16,422,048}	(16,400,706)

			2023		2022
Net cash inflow from operating		activities		351,376		84,223
Return on investments and servicing offinance
Interest received					67
Interest payable			(47,666)		(50,028)
				(47,608)		(49,961)
Capital expenditure	and financial investment
Purchase oftangible	fixed assets		(93„372)		(522,646)
Profit on disposal oftangible fixed assets			15,647
				P7,725)		{522,646)
Financing
Repayment of capital	element of bank loan		(253,116)		(247,212)
Repayment offinance leases			(50,658)		(132,642)
Capital financing			(28,661)		23,319
				(332,435)		(356,535)
Increase/(decrease)	in cash during the period			(106,392)		(844,919)
Cash balance brought forward				1,408,M1		2,252,920
Movement				(106,392)		{844,919)
Cash balance carried	forward			1,301,609		1,408,001

ees receivable
		2023	2022
			K
Tuition fees		11,892,562	10,751,749
Boarding fees		1,349,819	1,336,S66
		13,242,3S1	12,088,615
Music tuition		198,438	156,628
Day pupils meals		649,180	581,784
Other fees and charges		27,38S	42,891
		14,117,387	12,869,918
Less: Scholarships	and bursaries *	(1,120,110)	(989,847)
		12,997,277	11,880,071

Sundry income
		2023	2022
Rent receivable		1S,SOO	4,800
Tuckshop trading	profit	18,049	22,616
Other income		8,893	1,242
		45,741	28,658

				2023f		2022
Turnover				670,512		545,257
Cost ofsales				(342,714)		(278,199)
Other Income
Gross profit				327,798		267,058
Administrative		expenses		(94,972)		(95,139)
Government	Grants
Operating profit				232,826		173,361
Loss on disposal		oftangible asset
Interest payable		5similar charges				(1,443)
Net profit before taxation				232,826		171,919
Taxation charge
Retained profit		for the financial year		232,826		171,919
Capital and reserves at year end				283,768		170,905
The aggregate	ofthe assets, liabilities		and funds was:
					2023	2022
						f
Assets					351,735	241,287
Liabilities					(71,046)	(70,382)
Funds					283,768	170,905

	Restricted	Total	Total
		2023	2022
Donations
Other	103,637	103,637	254,237
Prize Fund	300	300
	103,937	103,937	254,237

Expenditure
					2022
					f
Charitable expenditure	includes:
Indemnity insurance for	Governors			4,037	2,440
Operating lease expense	in year			83,49&	88,473
Governance costs includes:
Auditor's remuneration
Fees payable to the charity's auditor the charity's financial statements		for the audit of		18,000	16,500
Staff costs ofthe college
Wages and salaries				7,104,307	7,001,820
Social security costs				656,471	675,774
Apprentice levy				19,879	17,821
Pension contribution				863,869	1,0&2,036
Healthcare					2,873
				8,644,526	8,780,324
Key Management Personnel:
				2023	2022
				f	f
Aggregate salaries of key	management	personnel	{Inc.pension	740,921	610,900
contributions}

he number ofemployees whose emol	uments exceeded f60k w	as:
		Number	Pension	contr ibutions
	2023	2022	2023	2022
			f
f,60,000 - f70,000			99,927	29,496
f70,000 - f80,000			4,000	18,470
f80,000 - f90,000
f90,000 - f100,000
f100,000 - f110,000
f110,000 - f120,000
f120,000 - f130,000
f130,000 -f140,000
f140,000 - f150,000			35,000

		Headcount
	2023	2022
Teaching	174	171
Welfare	28	32
Premises	10	13
Support	42	35
Trading	40	37
	294	288

7. Analysis	oftotal resou	rces expe	nded
					Depreciation
			Staff costs	Other	and amortisation	Total	Total
						2023	2022
Costs ofgenerating	funds
Trading expenditure			282,529	116,390	769	399,688	323,340
			282,529	116,390	769	399,688	323,340
Costs of activities	in furtherance	of the
charity's objects
Teaching costs			6,342,069	483,730		6,825,799	7,233,957
Welfare			740,035	1,350,250		2,090,285	1,879,222
Premises			361,834	961,537		1,323,371	1,047,090
Support costs			1,200,588	996,962		2,197,551	1,961,108
Depreciation					689,444	6&9,444	763,053
			8,644,526	3,792,4SO	689,444	13,126,450	12,884,429
Governance costs				16,900		16,900	23,587
Finance and other	costs			90,330		90,330	86,775
Donation
Loss on disposal of	tangible assets			61,952		61,952
				169,182		169,182	110,362
Total resources expended			8,927,055	4,078,052	690,213	13,695,320	13,318,131
Prior Year Comparative:
					Depreciation
			Staff costs	Other	and amortisation	Total	Total
						2022	2021
Costs ofgenerating	funds
Trading expenditure			222I794	100,441	105	323,340	201,020
			222,794	100,441	105	323,340	201,020
Costs of activities	in furtherance	of the
charity's objects
Teaching costs			6,807,551	426,406		7,233,957	6,837,004
Welfare			623,512	1,255,710		1,879,222	1,680,070
Premises			391,617	655,473		1,047,090	961,742
Support costs			957,644	1,003,464		1,961,108	1,581,071
Depreciation					763,053	763,053	780,587
			8,780,324	i 3,341,052	763,053	12,884,429	11,840,474
Governance costs				23,587		23,587	11,517
Finance and other	costs			86,775		86,775	52,157
Donation							100,000
				110,362		110,362	163,674
Total resources expended			9,003,118	3,551,855	763,158	13,318,131	12,205,168

trading subsidiary, Ashville Trading Ltd.
			2022	2022
			g
Current tax
UK corporation tax
Adjustments in respect ofprior years
UK corporation tax
The rate of current tax for the year, based	on	UK standard rate of corporation tax f
19'Yo(2022:19').The actual tax charge for	the current year and the previous year diff
rate for the reasons set out in the following	reconciliation.
			2023	2022
			f
Profit on ordinary activities chargeable to corporation		tax	232,826	171,919
Expected tax charge at19'(2022:19%}			44/37	32,664
Factors affecting the charge for the year:
Depreciation in excess of Capital Allowances			(27)	(974}
Short term timing differences
Losses carried forward				(8,839}
Movement in pension provision			(22}
Corporation Tax payable pre-gift aid donation			44,188	22,851
Tax effect ofGift aid Distribution to be made			(44,188)	(22,851)
Corporation Tax payable post-gift aid donation
Intangible Fixed Assets

All intangible	fixed assets are held in th	e trading subsidiary:
		Teaching Resources
Cost
At beginning	ofthe year	?,000
Additions
At end ofthe	year	7,000
Arnortisation
At beginning	ofthe year	?,000
Charge for the year
At end ofthe	year	7,000
Net book value
At 31August	2023
At 31August	2022

	Asset under	Freehold	Computer	Fixtures	Plant	Motor	Total
	course of	land and	Equipment	and	And	vehicles
	construction	buildings		fittings	Machinery
		E		6
Direct
Charitable
purposes
College	12,493	19,175,838	492,741	276,523	68,969	6,824	20,033,388
Other
Trading				3,077			3,077
	12,493	19,175,838	492,741	279,600	68,969	6,824	20,036,465

COLLEGE			Asset under	Freehold	Computer	Fixtures	Plant	Motor	Total
			course of	land and	Equipment	And	And	vehicles
			construction	buildings		Fittings	Machinery
Cost orvaluation
At beginning	ofyear		25,334	26,669,885	2,486,005	2,125,042	642,842	59,650	32,0Q8,758
Additions			2,726	4,113	347,587	61,140	46,747		462,313
Disposals			(15,567)		(195,452)	(6,242}			(217,261)
Transfer to other
category
At end ofyear			12,493	26,673,998	2,638,140	2,179,940	689,589	59,650	32,253,810
Depreciation
At beginning	ofyear			7,056,754	2,109,158	1,841,208	612,402	51,120	11,670,641
Charge for year				441,406	173,057	65,055	8,218	1,7Q6	689,444
Disposals					(136,816)	(2,846)	—	-	(139,662)
Transfer	to	other
category
At end ofyear				7,498,160	2,145,399	1,903,417	620,620	52,826	12,220,422
Net book value
At 31August	2023		12,493	19,175,838	492,741	276,523	68,969	6,824	20,033,3S8
At 31August	2022		25,334	19,613,132	376,846	283,834	30,440	8,530	20,338,118

he historical cost of revalued freehold land and buildin	gs within College is:
	2023	2022
	E
Historical cost	2,077,929	2,077,929
Accumulated depreciation	(877,911)	(836,353}
Historical cost net book value	1,200,018	1,241,576

				Consolidated	College
				Total	Total
Market	value		at 1September 2022		10,000
Market	value		at 31August 2023		10,000
Analysed	as
Investment		in	subsidiary		10,000
Total					10,000

Debtors
						Consolidated		College
						2023	2022	2023	2022
									f
Fee and trade		debtors				84,371	106,602	17,864	20,766
Amounts	owed	by subsidiary		undertaking				28,174	27,200
Taxation	and Social		Security			14,376	24,740	14,376	24,740
Other debtors						86,307	105,605	86,180	104,607
Prepayments						164,01S	149,071	164,018	149,071
						349072	38601S	310613	326383
Creditors. amounts			falling	due within	one year
					Consolidated		College
					2023	2022	2023	2022
					f.
Other creditors		due	within	1 year
comprise:
Taxation and social security					182,601	195,215	164,421	176,617
Other creditors					365,016	313,920	352,237	302,798
Lease					80&797	27,329	80,797	27&329
Accruals					313,360	431,616	308,312	426,230
					941773	9680!!0	905 &67	932973

ayments r	eceived in advance
		Consolidated		College
		2023	2022	2023	2022
Advance fees
After 5years
Within 2to	5years	247	34,584	247	34,584
Within 1to	2 years	36,145	66,485	36,145	66,485
		36,392	101,069	36,392	101,068
Within 1year
Advance fees		66,035	96,579	66,035	96,579
Payments	on account	2,128,639	2,383,388	2,128,639	2,383,388
Oeposits		237,245	245,665	233,970	242,390
		2,431,919	2,725,632	2,428,644	2,722,357
		2,468,311	2,826,700	2,465,036	2,823,425

	Balance	at 1September	2022		2,823,425
	Fees in advance for 2022/23				2,194,673
	Fees in advance for after		2022/23		36,392
	Movement on deposits				(8,420)
	Amounts	utilised in payment offees			(2,581,036)
	Balance	at 31August 2023			2,465,036
16.	Undesignated funds
				Revaluation	Retained
	Consolidated			reserve	surpluses	Total
					account
	Balance	at 1September	2022	5,257,392	11,263,632	16,521,024
	Surplus	from statement	offinancial activities		127,689	127,689
	Transfer	between funds		(102,568)	102,568
	Balance	at 31August 2023		5,154,824	11,493,887	16,648,711

		Revaluation	Retained
College		reserve	surpluses	Total
			account
Balance at 1September 2022		5,257,392	11,102,728	16,360,119
Surplus from statement offinancial activities			26,825	26,825
Transferred from designated	reserves
Transfer between funds		(102,567)	102,567
Balance at 31August 2023		5,154,825	11,232,120	16,386,944

17.	Ot	her funds
			Balance	Net	Outgoing	Transfer to/ from	Balance
Consolidated			31-Aug-22	incoming	Resources	other reserve	31-Aug-23
				resources
Restricted	income funds
Prize Fund			5,000				5,000
Annual Fund			25,318		(5,933)		19,385
Foundation				103,487	(103,487)
Other			1,000	450			1,450
			31,318	103,937	(109,420)		25,835
Unrestricted		income funds
Designated	funds
Homerton	fund		9,269				9,269
Designated	funds		9,269				9,269
Undesignated		funds	16,521,023	127,688			16,648,712
Total funds			16,561,610	231,626	(109,420)		16,683,816

17.	Oth	er funds (continued	)
			Balance	Net	Outgoing	Transferto/ from	Balance
College			31-Aug-22	incoming	Resources	other reserve	31-Aug-23
				resources
Restricted	income funds
Prize Fund			5,000				5,000
Annual Fund			25,318		(5,933)		19,385
Foundation				103,487	(103,487)
Other			1,000	450			1,450
			31,318	103,937	(109,420)		25,835
Unrestricted		income funds
Designated	funds
Homerton	fund		9,269				9,269
Designated	funds		9,269				9,269
Undesignated		funds	16,360,119	26,825			16,386,944
Totalfunds			16,400,706	130,762	(109,420)		16,422,048

Consolidated
		Unrestricted	Unrestricted	Restricted	Total
		funds	funds	funds	funds
		un-designated	designated
Funds balances at 31August 2023are represented	by
Tangible fixed assets		20,036,465			20,036,465
Intangible fixed assets
Current assets		1,629,086	9,269	25,835	1,664,190
Liabilities		(5,016,840)			(5,016,842)
Total net assets		16,648„711	9,269	25,S35	16,683,813
College
		Unrestricted	Unrestricted	Restricted	Total
		funds	funds	funds	Funds
		un-designated	designated
Funds balances at 31August 2023are represented	by
Tangible fixed assets		20,033,388			20,033,388
Investments		10,000			10,000
Current assets		1,317,523	9,269	25,835	1,352I627
Liabilities		(4,973,967)			(4,973,967)
Total net assets		16,386,944	9,269	25,835	16,422,048
Prior Year Comparative:
Consolidated
		Unrestricted	Unrestricted	Restricted	Total
		funds	funds	funds	funds
		un-designated	designated
Funds balances at 31August 2022 are represented	by
Tangible fixed assets		20,341,963			20,341,963
Intangible fixed assets
Current assets		1,767,643	9,269	31,318	1,808,230
Liabilities		(5,588,584)			(5,588,584)
Total net assets		16,521,022	9,269	31,31S	16,561,609
College
		Unrestricted	Unrestricted	Restricted	Total
		funds	funds	funds	funds
		un-designated	designated
Funds balances at 31August 2022 are represented	by
Tangible fixed assets		20,338,117			20,338,117
Investments		10,000			10,000
Current assets		1,557,402	9,269	31,318	1,597,989
Liabilities		(5,545,400)			(5,545,400)
Total net assets		16,360,119	9,269	31,318	16,400,706

			2023	2022
Net incoming resources for the		year	122,206	(609,839)
Interest received			(58}	(67)
Interest paid			47,666	50,028
Depreciation oftangible fixed assets			690,213	763,158
(Profit}/ Loss on disposal offixed assets			61,952	634
(Increase) / Decrease	in stock		702	(6,133}
(Increase) / Decrease	in debtors		37,471	(118,158)
Increase /(Decrease)	in creditors		(608,776}	4,600
Net cash inflow from	operating	activities	351,376	84,223

						2023	2022
Operating	Leases
Within one year						80,317	70,379
Between	one and five years					96,068	108,873
After five	years
						176,385	179,252
						2023	2022
Finance Leases
Within one year						80,797	27,329
Between	one and five years					270,744	5,928
After five	years
						351,541	33,257
Financial	Instruments
						2023	2022
Carrying	amount offinancial	assets measured		at	amortised cost	84,371	107,127
Carrying amount offinancial		liabilities	measured		at amortised cost	1,438,602	1,930,764

NOteS (continued)
22. Pensions
The College fully exited the				Teachers'		Pension Scheme as at the 31stAugust 2022 and has now				enrolled all
teaching staff into MIST group defined contribution scheme administered by Legal and General This is expected to generate savings ofmore than f250k per annum on employer contributions										insurers. based on
the TPScurrent		rate of28.68%
23. Consolidated	statement		of	financial activities for the year ended			31August 2022
						Unrestricted Restricted			2022	2021
				Notes		funds	funds
Incoming resources
Income from charitabIe octivities
Fees receivable						12,869,918			12,869,918	12,716,246
Less: Scholarships and bursaries						(738,320)	{251,527)		(989,847)	(913,649)
Net fees receivable						12,131,59&	(251,527}		11,880,071	11,802,597
Incoming resources from		generated
funds
Trading income						545,258			545,258	313,756
Bank and other interest						67			67	441
Sundry income						28,658			28,658	123,889
Donations / Grants						1,710	252,527		254,237	38,322
Total incoming resources						12,707,292	1,00Q		12,?Q&,292	12,279,005
Resources expended
Costs ofgenerating funds
Trading expenditure						(323,235)			{323,235)	(200,3?1)
Depreciation						(105)			(105)	(649)
						{323,340}			{323,34D)	(201,020)
Charitable activities
Teaching costs						(7,233,957)		(7,233,957)		(6,837,004)
Welfare						{1,&79,222}		(1,879,222}		(1,680,070)
Premises						(1,Q47,D90}		(1,D47,090)		(961,742)
Support costs						(1,961,108}		(1,961,10S}		{1,581,071)
Depreciation						{763,053)			(763,053)	{780,587}
Finance and other costs						(86,775)			(86,775)	(52,157)
Governance costs						(23,587)			(23,587)	(11,517)
Grant										{100,00Q)
(Loss)/Profit on disposal oftangible a										{3,958)
Total resources expended					6/7	(13,31S,131)		(13,318,131)		(12,209,126)
Net incoming resources						{610,839}	1,000		(609,839)	69,&79
Net movement in funds						(610,839)	1,000		(609,839}	69,879
Transfer between reserves
Balances as at 1September		2020				17,141,131	30,318		17,171,449	17,101,570
Balances carried forward August 2021	at 31					16,530,292	31,318		16,561,610	17,1?1,449