ASHVILLE HARROGATE Ashville College Report & Consolidated Financial Statements Registered Charity: 529577 For the Year Ended 31 August 2024 Contents Governor5, officers and advi5er5 Report by the Governing Body actlng as trustee for the charity, A5hville College statement of the Governing Bodls responsibilities Independent auditorfs report to the Governing Body las Trusteel of Ashville College Consolidated statement of financial activliles 4-18 19 20-22 23 Balance sheets 24 Ctsnsolidated cash llow statement 25 Notes 2644 Governors, Officers and Advisers GOVERNING BODY The Governing Body of the charityduringtheyear ha5been A5hvilleColle8eTru5tee Lirnited..Ihe DirectorsofAshville College Trustee Limited arÈ referred to as'Governors'. or rnembers ofthe Governing Body. The Direttors who held office during the period were as follows.. James C. Searth Greg Styles Davld Hvmphreys Paula Jackman Revd Le51ie Newton J. Peter Whiteley FCA. Anne Vautrey John Wood Jonathan Oxley Stephen Andrews Beth Mottr3m" Holly Chaplln. Nlck Hèir Adrian Preciou5 Thornas Averre Chair to 31 AuEU5t 2024 ReSi￿ed 31 August 2024 Resi8ned 31 Au8USt 2024 Re￿gnetI 31 August 2024 Director ol Ashvllle Trading Ltd Parent one of the Olrectors had a beneficial interest in any contract to v4hSch the tornpany was a party during the year. except as disclosed in note 24. OFFICER5 (Key mafiaÈement personnel) Rhiannon Wilkinson MA (Oxonl MEd Head Richard Rooie Clerk to the Governors & 6ursar Phil Soutar Head of Prep Owen HillieT Deputy Head (Academic) Anna Wilby Oeputy Head (Enrichmentl Laura Jackson Deputy Heèd (Staff) aalre Whitaker Deputy Head IOperations1 Deputy Head (Pupils) ADVISERS Auditor Saffery LLP 10 Wellin8ton Place Leed5 LSI 4AP Solici¢ors Schcfield Sweeney LLP 76 Wellington Street Leeds LSI 2AY bankers Uoyds Bènk 8- 11 Cambridge Crescent Harrogate HGI IPQ Annual Report of the Goveming Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2024 A5hwille College Trustee Limited as the sole Trustee of Ashville College, pre5ent5 It5annual reportlor the year ended 31 August 2024, together wlth the audited flnancial statement5 for the year, and confirms that the latter cotnply with the requirements of the Charities ACL theTrust Deed and the Charltles SORP IFRS1021. OBJECTS. AIMS ANO OBjE￿1VE5 AND ACTIVITIES Charitable Object5 The Charl￿5 Prifflary objett, as set out in its Trust Deed, is the advancement of education, in¢ludln8 the provislon of bcarding ènd day schooling for boy5 and girls within the context of its status as a Methodist school. The Charity also has to malntaln Its heritige endowment, which include5 the College buSldln8s and environrnent. Aim$ ofid Intended Impact withln these oblect5, Ashville College'$3im1s to be recognised as an excellentschool in the Harrogate area to realise academic abilities. nurture individual talents and develop all-round character, in a climate ol Positive expectation and within the MÈthodist traditions of the College. Principal Activities in thevear ThÈCharity principally provides educztion in Harrogate to boy5 and girls Irom the è8e5 of 2 to 18. Oblect6ves 2023124 was the third year of progress towards the 'New A5hville' vision and Strateglc Intents. as lald out In the pr￿ou$ year by Head Rhiannon Wilkinson and theGovernlng Body-see nextsection. Strate ic intents for the'new, Ashville.. l. To be an excellent, all-through12-181 school. with stron8 recrultment ond retention. We wish to be 8 happy and rewarding place for children and staff to work In. 2. To offer academlc excellence. innovatlon and opportunltles for creatlvlty, enabling every pupil trj realise her or hls academlc potential to the full, with passlonate and dynamic teachers delivering challengin8 and exciting lessons. 3. To be a vibT¥nt, caring communlty where every individual has a stron8 sense of what it means to be an A5hvillian and is proud of that fa¢t. 4. To be è warm, supportive, civilized communitywith stron8 moralvalue5. Wewll seek to a¢hievethlsthrough self- discipline and pride ratherthan fear and punishment. 5. To have a pro￿tIVe approach to pastoral care which develops positive, confident pupils who develop high leve15 of resilience. Our prograrnme- Flourishing@A5hville-will equip pupllswith the personal skills they needto nèvlgate the challenges of adolescence and the pressures of the outslde world. 6. To develop a programme whkh enables pupils to be Future Ready. Guided by the World Economic Forum Skllls for the Workplace 2030, FutureReadv@A5hwlle teaches enterprise, ski115for the workpla¢e, envlronmental and global awareness. It ofter5 coreer5 and higher education advice as well 05 leodership training and opportunitie5. 7. To promote physical iiterdcy. not only through PE and Sport as enjoyable eKFeriences, but also through an appreciation of the imwrtante of èchievinE a sense of balance, wellbeing, and 3 healthy lifestyle. Annual Report of the Governing Body acting as trustee for the charity, A5hville College, for the year ended 31 August 2024 (continued) 8. To provide a range of opportunrties for Ashville pupils to learn about service. This applies to taring for others within the College, our local comwunity and further afield. Looking after each other Is atthe heart of Ashville's values. We will seek active partnerships with local state schools. 9. To nurture a strong sense of comrnunitythrough personal and soclal development outside, as well as inside, the classroom, through a dwer5e and rich range of co-curricula¥ attivitie5 and House activltles. We will look to introducethe"Ashville Approach-. a blueprint for enhancingthe devdopment of personal attributes for Ashvillians. 10. To have excelknt relationships with parents ènd alumni through first-rète comrnunlcatlons. events, forums and host of comtnunity-based artivities. Our phi1050phy is one of openness and we have a desire to learn from our partner5 to nurture a strong sense of community. Thefumilment of this vision and strategic alms sits at the heart of Ashwlk's five-yearStrate8i¢ Plan drawn up bv the Exetutive Leadership Team and Governors. Annual Report of the Governlng Body acting as t￿￿tee for the charlty, Ashville College, for the year ended 31 August 2024 (continued) STIiATEGIC REPORT 2023124 was the third year of progress towards the'New A5hville' vislon set out by Head Rhlannon Wilklnson when she joined the College In 2021, and in the Autumn Term, progress was assessed externally forthe firsttime S the College was in8￿cted by both ISI (the Independent Schools Inspectoratel and NEASC Ithe New England Assoclatlon of Schools and College51. The Colle8e passed both with flying colours and was found to be fullv compliint across the board. Inspectors made reference to the process of "transformative Change" that they observed throughout the school. as well a5 the Strength of the school community and the breadth and itnpatt of cTr¢urrfcular programmes. 2023124 was also a very strong year academically. with an extepfjonal Upper Sixth cohort achiewngfirst-rate A vel results- the best in HarroEate- and more importantly, success in gaining plèces at their preferred institutlons for further study. The school's college. The Governors are co8nlsant of the fact that the flnancial cost gf independent education is an Impediment to some children attending Ashville. therefore the College strive5 to ensure that it remains accessible to as wide a range of families as possible,. this is 8chreved throu8h the provision of direct finèndal 5UPPOrt by way of bursaries and a fairadmissions proces> A5hville College wel¢ornes pupils from all backgreunds. The Governor5 want io ensure that potential pupi15 wlll benefit from the education the College provides and can ctspe with the pace of learning* hence entrance Interviews and assessment5 are undertaken prlor to a place being offered. However. an tndlvSdual'5 econom1¢ status, gender. ethniclty, race. religion or disabiltty do not form part of this3ssessrnent prote55. The Governors are also Commltted to broadeninE access to the College by offering rneans-tested financial 5UPPOrt to eligible pèrent518uardians. Such support Ss known as a bursary and these are awarded in the form of a dlscount on fees depending on the financlal, tornpassionate or other pertinent circumstance5 of appllc8nts. The bursary award5 range from 10 percentto IQO percent remission of fees. Our bursary award5 are avèi18ble to all who meet our general entry requirernents and inforrnatSon about bursaries is made available to all applwng to the College and information on bursaries is available on the College webslte. However. the College does not hèvea larEe endowmentand rnust ensurethat the￿ is a balance between feÈ-payin8 parents, many of whom make con51derable personal sacrifices to fund their thild'5 education. and those benefsting from the awards. Durlngthi5year. flve Ukrainlan refugeechlldren contlnued theirstudie5 atAshvillevia the Foundation whlle they are hosted byfamilies In the local area. In addition to bursaries, scholarships are awarded to recognise hlgh academic potential or the ability to excel In other areas of the College, includlng5POrt, dr8tno and music. The Governor5 have a deliberatepolicyof redu¢ingthe financial discount associated with scholarships and directing this saving into bursary fundlnE. Communlt Access Ashvllle College alms to be the heart ofthe tomrnunity and works In vaiiou5 ways to open its doors to the public. Sporting Influence cornpleted their second ye3r of children'5 camps and activity programmes at Ashville with record number5.' over 125 children per day attended over the Summer. Sporting Influente have also become a main sponsorship partner to provide thildren and families In need of eKtra support during the holiday period. These camps, organised by Sporting Influence, offer children opporiunities to engage in various sports and activities that promote physical well-being and personol developrnent. The partnership ensures that more children, includin8 those facSn8 challenging circumstances, can access these enriching experiences for free a5 part of ovr sponsorship progr8rnme. The College also olfers our facilities monthly for mins fÈstivals which brings each primary school onslte lortrTring long standing partnerships in the hope of Ashville becoming the feeder school of choice through Primary teacher recommendation5. We now work with over So schools. Each of these actlons highlights Ashville College's role in promoting community welfare, education, and Charitable initiatives. li As ever, our on-slte Sports Cet>tre Is open to the publlc and maintains an active membership of arcund 600. A5 Part of the membership of the centre come5 a schedule of fltness classes to 5UIt all types of member5. The ts¢ilitlÈs themselves are in good condition and the affordable membership allows a variety of members. There were several high-level sports tralning camps inthe academic year 23124, most notably In swimming with masterclasses delivered by Adam Peatv. The College'5 Director of US International Studles continued to work closelywith Ameritan pupils at Ashville and in the local community. Ashvllle provides infortnatlDn to familie5 moving to the UK about the education system, and offers advice about how to best navigate thetransition from the US system. St Michael's Hospice Midnight Walk.. Ashville Trading supported this charlty inltlative by offering reduced hall hire for the walk's event artivities. Additionally, the college assisted free of ch6rge with advertlslng, helping to raise awareness and maximise participation forlhe cause. The event ran from S..IIOpm- 2..00am. Tri-uub Support.. The college demonstrated it5 commltment to community fithe55 and wellbeing by providing dlscounted rates for a trlathlon race organlsed by the community-led Harrogate Tri-club, en5urfn8the event remalned acce55ible afid Inclusive to everyone. St Michael'5 Hospice Photoshoot.. To sUPPOrtihe hospice's viriual swlmathon event, Ashvllle College provided its swimrning pool at a reduced rate. They also Supplied a tralned lifeEuard to ensure the safety and smooth running of the event. further shDwc3s1ng their dedlcatlon to cornmunity support. Schwl Usage- St Aidan's A-level Support., Ashville Colle8e extended its facllitle5 to St Aidan's students for their A-Level studies, refletting the college'5 tommltment to fosterin8 educational coll4boratlon and Eiving back to the local atademic community. The College opens its doors to variou5 perfomiantts and Services which the local ¢ommunlty can engage with. Both the town Carol 5ervlce and the Son8s of Praise servite are open to the public and Songs of Pralse was especially destgned to involve the local circuit of Methodist Churches. Each year the Harro8ate Easier knvin8 Project are invited into the ColleEelDr an afternoon tea with entertainment provlded by rnU51tièns and with pupi15 hosting and enga￿n6 ￿th the guests. This is usually for around 40 people. AS part of the Megaband afternoon. music makers from Hen5haws became part of the final performance by making a video which was played as part of the live event. Staff from Henshaws a150 attended. In line with the Charity's Methodist eihos, all pupils across the College are encouraged to take part in charitable actDlities. OtJrln8 the year. the pupils raised moneyfor a variety of charlties, 5pecifi¢ally.' Henshaw5 Knaresborou8h, Teenage Cancer Trust and Edukid Icambodial. In additionto these set charities weralsed moneyforchildren in Need and Comic Relief through non-unifomi days. In Prep School pupllsth05e to supportthe Leed5 Charity Zarach, whith alms to eliminate bed poverty amongst needy families. Many Ashville pupi15 tomplete the Duke of Edinburgh awèrd both at Bronze and Gold level and Complete areat many hour5 Of volunteering. A number of 6 Forrn pupils attended Henshaws Knaresborough each Wednesday afternoon wthere they helped in workshops. including art, jewe11ery making, and muslc. Prep choir5 sang carols at a local care home before Chnstma5. Prep school bought L6 beds for local familles In need as viell ès donating 213 pairs of pyièmas and 176 selectlon boxes at Chrlstma5. Prep and Sixth form pup115 made and wrote Christmas card5 which were di5tribuied to three local care homes. Regular fair trade 5ts11s took place throughout the year in both Prep and Senior School5. The Prep School held a Harvest Festival with fwd donatlolls for Zarach. 12 Christmas shoe boxgifts were made by a group of Year 7 pupi15, Wlth Years 7 and 8 each donatingdifferent iterns. Over 60 boxes were rnade and delivered to the Harrogate Fcodb8nk to be given to their users over the Christr￿S period. A Senior School 'Charity Da¢ invited pupils to ralse money for a charlty ol their choice by runnlng sta115 at lunchtime. These included Open Arms Malawi, The Cyrtic Fibr05i57rust and AKT (Albert Kennedy Trust) a5 well as our three chosen College charities. stsff and puplls donated to the Royal 8ritish Legion. buylngtheir poppies to wear on Remembran¢e Day. ia Annual Report of the Governing Body arting as trustee for the charlty, Ashvllle College, for the year ended 31 August 2024 Icontinuedl NANCIAL REVIEW AND RESULTS FOR THE YEAR Fee income Fee income thls year increased by 7.1%, moving to £15.12m frorn £14.12m in the prior year. Normal fee dTscounts decreased in % term5 to 6.9% of grossfÉe income. from 7.9% In the prior year. oiher income Other Income relates to rental incorne on owned properties, income from the Sixth Form Centre Cafe, and small ncldental recharge5 such as musical in5trurnent hire and trèvel income. Tradin8 income and expenditure wll be covered later in this section. Expenditure Expenditure on charitable actiwties increased by 7.9% in theyear to £14.8m12023'. £13.7ml. Teaching costs dropped by4.5%, to £7.Im12023.. £6.8ml. Some aspects of pastoral care have moved from teachers to 5UPPOrt 5tèff -thi5 15 rngst notable in boarding where the College has recruited MO￿ dedicated boarding staff a5 OPP05ed to usin8 teacher hours Welfare costs increased by £351k116.8%l to £2.4rn. largely driven by food-pritt infLition impa£tinE catering bud8et5 and staffing cost increase5 atthe lower end of the pay stale Premises costs Increased by 22.6%to £1.6rn, J5 the e55EntTal maintenance work5 were carrRd out across the colle8e Support tosts have Increased by S.6% to £2.3m v5. £2.2rn in prioryear, as the CDllege has profe5sionaliied somè pastora5 and admini5tr8tive function5 that were prewou51y carried out by teaching staff. Oepreciation increased by £78k111.l%l. investment in 1-2-1 devices for pupi15 across the schix)l. The xhool was not in a poSI￿On to make a donaUon to Foundatign this year. Fee deb¢ Fee debtdeueased to £82kfrom£96k inthe prioryear, a good result con5ideringthe difficulteconomic environment and the school's efforts to retain farnilies. Bad debt provision continues to be prudent. wilh lo￿ provisionfor fees In lieu. albeit decreasin8 from £93.2k to £66.6k, with 80% of debtors provided for atyear end. Capil41 ewenditure Capital expenditure wès £872k in the ye3r. of which Mts￿ than half1£461kl wès Spent on premises in the form of new"hubs" and refurbishrnent. Other expenditure Induded replacement plant1£196kl, vehlcles and IT equipment. Borrowings At the year-end total borrowln8 wa5 £0.75rn12023.. £1.02ml with Uoyds Bank plc. The loan durotloll 15 until March 2027 and is on a fixed rateof 3.49%. It is secured on two residential properties owned bythe College. The College's other borrowlnEslobliEation5 relate to.. An obligation agHinst a capital draw down from Holroyd Howe. As part of the contract between Holroyll Howe and the College, Holroyd Howe will rnake a £500k capital contribution to the College. The College has drawn down E430k against this, but is tsbliged to remain In the contract with Holroyd Howe untll the contrèrt end date In March 2028. therefore the diaw down has been reco8nised as a liability Oll th* balance sheet and wl11 be released to the SOFA In accordance with the terms of the contratt. the balance atyear end wa5 £211k12023.. £272kl. £309k12023.. £351kl finènce lease obl￿atIon foT the Investment In ￿ equSpment1É204kl and ¥rounds equiprnent1£105kl 14 Annual Report of the Goveming Body acting as trustee for the charity, Ashvllle College. foi the year ended 31 August 2024 {¢ontinued) Ashville Trading Llmlied Ashville TTading Ltd made a profit of £220k in 2023124. a decrease of 5.4% en prior year. Sports Centre The Sports Centre membership remains stea¢ty at around 600 rnembers over the year. LettiTrES Lettings Income improved 23.3% in 2023124 to gross In￿Me of £227k At 31 August 2024 Ashville Trading has reserves of £272k, after a 8ift aid donation to Colle4È of £232k. Purpose of Ashville Tradln8 The purpose olA5hville TrèdinE Limited i5to utillsethefacilitles and intellectual property of Ash*ille Colle8e in order to enhance lives In the wider¢ommunitythrough edutation end enrichrnent.AtAshville and around Harrogète many people appreclate the excellent educational and enrlchment work that helps pupils thrive at Ashville College. Outside thÈ d3ily school lrfe, Ashville Trading en8age5 in a vaiiety of actlvit1È5 whfch open the facS1ities and opportunity for lÈarnin8 and enjoyment to a much wider audience at hoffle and abroad. These actDiitie5 not only benefit the participants but A5hville as a whole by r8i5ing the profile of the College to support recruitment, particularly of boarders, and raise funding to support investment in College ￿sOurCes. Some also provide personal development opportunltles forcollege staff. Forihe very youn8e5E Ashville swim schoo15- V*tal life ski115 forchlldren Children's parties In è fun and safe envlronrnent ByildinE confidence, teamwork and Individuality Introdvcth)n to ènd building ski115 in a wide range of 5POrts Summer c8mps- day and residentlal activitie5. Promoting Health and Wellbeing Sports Cent￿ membership for 5ts1f and the pubfic Rèn8e of group exercise £￿$$e$ for all Jbllities On-site acce5S to physlo and personal trèlners Hosting cornrnunSty and 5POrtin8 events Auditorium for special e¥ehts for up to 600 Guest presenters Oance. choral and stage performance groups Book launches 15 Annual Report of the Goveming Body arting as trustee for the charitvi Ashville College, for the year ended 31 August 2024 (continued) fllsk Manasement Ashville College Trustee Limtted, via its Board, Is responsible for the management Df the strateÈi¢ and operatlonal risks faced by the College. The full Governing Body reviewthe risk reglster at the December board meetin& and this risk re8iSterlnforms the strategic and operatlonal plan5 for the yeèr ahead and the next 3 to 5 years. The major risks identrfied bytheGovernors were.. Afallure of the College's safeguardln8 polides and procedures.. Academic underperformance and it5 impatt on the school's reputation.. Dependence on US pupils and the wider relationship with US cu5tomeT5', Uncertainty over VATliability during transition period to new tsxaiion laws. Having identified these as the major risks. the Governors and College rnanagement have put strategies in ￿a¢e to either eliminate these risks. or to minimise their potential impart. The mea5UTes put in place to rnlÈiBate the identified risks include. Formol wrthn pollcles, Including thorou8h pollcles and procedures relatlng to safeguarding and data protection. On-goin8 programme of profe55ional d￿elopment, includin8 safeguardln8 and data protection trainlng for all staff,. Comprehensive planning and budgeting proces5to ensure resources are appropriately allocated.. Monthly review Of financlal statements by Colle8e management and GDvernors.' Well defined and 38reed targets and obl￿tlY￿ for Senior management and staff,. Appointment of professlonal adviser5 as requlred: Appointment of an externgl data protection offiter; Comprehenslve Insurance coverage.. Formal disaster recovery policies and procedure5 Iwhith are periodically tested),. Frequentfinancial'ythat-if modellin8 considered by College manè8ement and Governors- Well-developed plan5to increase the number of 6th Form pupils.. and Process ol ¢ontlnual self-re¥iew and strategy revlew by thÈ col￿ge management and Governor Through the risk manigement processe5 estsblished for the College, the Board 15 satisfied that the major risks identified have beÈn adequately mitigated. It is recognised that systems can only provide reasonable but not absolute assurance thar major ri5k5 have been adequately managed. The Governors regularly review the effectiveness of current plan5 and strategles for managin8 all Identified major risks for both the College and Its 16 Annual Report of the Governing Body actlng as trustee for the charity, Ashville College, for the year ended 31 August 2024 (continued) Re5er¥es Pollcv At the year end the College had unrestricted fvnds of £17.Im12023.' E16.6ml. As the value of tangible fixed asset5 15 £20.Im12023.. £20.Oml the College technicallydoes not h3ve anyfree reserve5. TheGovernors airn to reduce thls shortfall over time,. but, havlng reviewed the College's fvnding position. the Governors do not believe the shortfall represents 3 signifKant rlsk and are ¢onfident that the College has adequate resources to maintain the day-to-dav operatk)n of the charity. It Is the Governors, policy to generate a modest surplus of income over expenditure each veèr to safe8uard the future of the Coll4e and to fund working capital movements. The Governor5 aim to Eenerate an "investment surplu5. (defined as surplu5 on unrestrlctedfund5 before depreciation butexcludlngthe profit orlosson the di5P05al of fixed èssetsl in excess of IO% of net fee income. Thi5 year the College made an °investment SUTplus" of £1.2m nd therefore there wa5 a small shortfall 88ainst the target of £1.4m The College èlm5 to continue to prov4de facilities of an excellent 5t3ndard to enhantr the educafjonal, cultural and 5POrting life of the pupi15. The Governors aim to achieve this through a programme of on-going capltal investment in existing and new facilitie5. whKh Inevltably Increases the value of tanEible fixed assets Ht the expense of free reserves. This programme will b@financed from the proceeds of fund-raising activities. available unrestricted fund5 and further bank borrowin8, should theGovernorsfeelthat debt servlcing could be prudently cOVe￿d byfee income and the surplus on trading activities. Following the College's decision to eKIt the boardlng market. It Is envisaged that further funds for Campu5 Devdoprnent will become available in the years 202>26 onwards The d￿￿re for continued investment in ihe College will be balanced against the need to ensure thatthe College has adequate and appropriate free and liquid reserves at all times- to that end the College Intends to build up on investrnentlund over the next 5 to 10 years. Duringthe year the College had a small numberof unrestrirted, designated funds.. In August 2012 the College received a £IOk donation to be used to support pupi15 applying to elther Carnbridge or Oxford University, the'Homenon Fund,. At the year end the fund had a value of £9,269 The Charlty had the follo￿nI ￿$trIcted lunds In the year.. The College has a fvnd of £Sk for three prEe5 to be awarded to pupils at the annual Speerh Oay. The Annual Fund. known a5 the 140 Fund. was established fOrdo￿tiOnS received from Old A5hvillians and in relatlon to the 140th Anniversary, for spe¢ifi'¢ purposes related to the purchase of book5 and musical in5trument5, The value of the fund at year end was £16,796. Smaller funds carried forward from preMous years but not yet Spent included a fund of £450 donated during 2022123 for debating prlzes. solir outdoor lights and Old Ashvillian event; El.rx)O don3ted In 2021122 for the purpose of developine the School's amateur radio broadcasting club. The Ferguson Fund was a legèry donalion of f250k from the estate of OA Gordon Ferguson. to'develop the College's facilities for pupil study and recreation., which was re£eSved and used in-year for the development of the Year 11 Hub. The College received two srnaller donations in the year-a sum of £l.000 to develop the musi department and £205 tor a drama prize. These had not bÈen Spent atyearend and are carrfed forward to 2024125. 17 Annual Report of the Goveming Body acting as trustee for the charitvi Ashville College, for the year ended 31 August 2024 l¢ontlnued} Golng Contein Dirertors have reviewed income and cashflow forecasts, rfsks, and investrneni plans to August 2026, and are confident in the charity's ability to continue as a 8oln8 concern, and that thi5 should be the basls on which financlal ststernents are prepared. The College will be cornfortably able to tneet its commitments in term5 of bank covenants for the foreseeable fvture. and ha5 4cce55 to liquid cash and assets to finance growth and campus development plans. Cash and upital commitment As at 28th January 2025 there is £2.6m cash in the bank. The cash flow forecast for the year suggests that the College will be Jble to sustain all of its out8oin8s, both monthly expenditure and Eapital spend. from incoming fee and other incorne overthe course of the year. Addilional sources of revenuelcash not included in the budget or forecast There are a number of further SOUTres of rncomelcèsh that are not included in either the budget orthe forecast which provlde further reassurance of the College's ablllty to continue as a 8oinE concerri forthe nexf 12 months. Lookingahead to 2025 and tseyond The College15 developing a longw-term strategy leadlng to Its 150-year anniversary in 2027. This Is likely to involve investment in a replatement for the prefabricated Bowck building. This would Increase capacity considerably and enable the school to accommodate up to 900 pupi15. Funds are expected to come from a combination of donations, Sa￿ of land ènd / or loans, as well a5 the cash surpluses the ColleEe generate5 during the period 2025-27. FLINDIIAISING REVIEW As a registered chèrty thecharity Is required to report on it5 fundraislng acfjvlles In the financ￿1 year. In theyearto 31August 2024,A5hvilledld not undertakeanydlrectfundrai5ingand has not engaged any professional fundraisers to work on Its behalf. 18 Annual Report of the Governing Body acting as trustee for the charity, Ashville College. for the year ended 31 August 2024 Icontinuedl STATEMENT OF GOVERNING BODY'S RESPONSIBILITIES The Governing Bodyi as the trustee of the Charity, is responsible for preparing the Trustee'5 Annual Report and the financial statements in accordance with applicablo law and Unlted Kingdom Accountlng Standards (United Kingdom Generally Accepted Accounting PractKel. The lawappllcable to charitie5 In England and Wales requiresthe Governorsto prepare financièl 5tstements for each financial year which 8tve a true and falr view of the state of affairs of the charity the group of the incoming resources and aplicatitrn of resources of the charity and the group for th2t period. In preparing these financial statements. the Governlng Body is required to.. sele£t suitable accounting pollcles and then apply them consistentlv., observe the tnethods and principle5 in the Charitie5 SORP IFRS1021- make judgrnent5 and estimates th3t are reasonable and prudent,. state wh￿her applicable ètcounting standards have been followed subjecl to any material departures disclosed and explained in the flnancial Statements,. and prepare the financial statements on the going corKern basis unless it is inèpproprlate to presurne that the charity will continue in busines5. The Governing Body 15 responslble foT keepln8 proper a¢¢ountinE records that ￿￿10$e with reasonable accuracy 4t any time the financial posltion of the charity and enable them to ensure that the financial ststements comply with the Charities Act 2011. appli¢able accounting regulations and the promsions of the trust fleed. They are also responsible for safeguardin8 the assets of the charity and the group ènd hence for takin8 reasonable Steps for the prevention and detection of fraud and other Irregularities. The Governing Body is responslble for the maintenance and iTrtegrity of the Charity and flnanci41 Informa￿on included on the Charity's website. LegSslation in the Unlted Kingdom governing the preparation and dissernination of fi'nancial ststements may differ from legislation in otherjurisditt1￿5. AUDITORS Saffery LLP have empressed their willin8ne55 to rerna￿n in tsffi￿ as audltrjrs of the Charity. Thi5 irectors report was approved bythe Govemine Bodyon Al......PAik<.15. and signed on their behalf bv.. G STYLES Chair. Ashville College Trustee Lirnited 19 Independent audltorfs report to the fjoverning Body las tru5teel of Ashville College nion We have aud￿ed the financial 5t3tement5 of Ashville College Ithe 'pa￿nt charitll and Its subsidlarSes Ithe'group'l for the year ended 31 August 2024 which rornprise consolidated statement of flnancial activity, the consolidated balance sheet, the con501idated tash flow statement and notes to the financial staternent5, including significant accounting poli£ie5. The financial reportlnÉ framework that has been applied in their preparation is 3pplitable law and United Kingdom Accounting Standards. includin8 Finantlal Reporting Standard 102, the Flnancial Reporting Standard applicable in the UK and Republic of Ireland Iunlted Kln8dom Generally Accepted Accounting Piarticel. In our opinion the financial statements.. glve a true and fair wiew of the state of the group and partnt chariWs affèirs as at 31 August 2024 and ol the group'5 and the parent charity'5 incoming resourtes and application of resourtts for the year then ended., have been properly prepared in accordance with un￿e￿ KlngdDm GenerallyAccepied Accountln8 Practice,. and have been prepared Sn accordance wlth the requirement5 of the Charitie5 Act 2011. Bas15 for oplnlon Wè tonducted our audit In accordance with Internotionjl Standards on Auditing IUKI11SA5 IUKII and applicable law Our responsibiltties underthose standard5 are furtherde5cribed in the Audltorfs responsibilities forthe audit of the ftnancial statements Section of our report. We I￿ Independent of the group and parent charity in accordance with the ethical requiretnent5 that are relevant to ￿Jr audit of the financial ststetnents in thÈ UK, Indudin8 rhe FRC'S Ethical Standard, and WÈ have fulfilled our other ethScal respon5ibilitie5 in 4ccordarice with these requirement5. We believe that the audit evldence we have obtained is suffi'cient and appfopriète to provlde a basis for our opinion. Contlusions relatlngtoEolnE coiicern In auditinE the financial statements, we have concluded that the trustee5' use of the going concern basis of accountlng in the preparatlon of the flnancial statement5 15 appropriate. Based on the work we have perforrned. we have not identified any material Un￿rtaIntieS relating io events or conditions that, 1ndividually or ¢ollÈttively, may cast SlEnificant doubt on the group or the parent charity's ability to continue aso going¢oncern for è period of at lea5ttwelvemonthsfrom when thefinancialstatements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to golng concern are descrlbed in the relevant sections of thi5 ￿ptsrt. Other infomiation The trustees are rÈsponslble for the other Information. The other information comprises the information included in the annual report. other than the financial statement5 and our auditorfs report thereon. Our opinion on the financlal statement5 doe5 not cover the other Information and, except to the extent otherwlse explicitly stated In our report, we do not empress any fomi of assurance conclusion thereon. Our reswnsibility is to read the other infortnalion alld. in dolnE so, consider whether the other informatlon Is mèterially inconslstent with the financi315tatements or our knowledge obtèined in ihe course of the audit or otherwise appears to be materially misstated. If we Sdentifv such material inconsistencles or apparent moteri31 misstaiements, we are required to detÈrmine whether this 8ive5 rise to a material misstatement in the financial statements themselves. If, b35ed on thework we h￿e performed, weconcludethatthereis a material misstatement of this other information, we are required to report that fact. We have nothlngto report irt thls regard. 20 Independent audltorfs report to the Goveming Body las trustee) of Ashville College (continued) Matters em which we are required to report byeKeptlon We have nothing to report in ￿SpeCt of the following matters in relation to which the Charities (Accounts and Reportsl Regulations 2008 require us to report to you if. in our oplnion.. the infomiation given in the Trustees. Annual Report Is In¢onsi5tent in any rnaterial respert wth the rinanci31 statement5,' or the parent chBrity has not kept sufficient attounting records.. or the parent charity's financial staternents a￿ not in agreementwith the atcounting records and returns,. or we have not received 311 the infomiation arKI explanations we require for our audit. Responsibili¢ies ol trtsstegs As explained Ma￿ fully in the Trustees, Responslbilities Statementsetout on page 19, the trustee5 are responslble for the preparatlon of the financial statements and for beln8 Satisfiei4 that they give a true and fair view, and for such Intern61 control as the trustees determine is necessary to enable the preparat]on of financial statements that are free from material mlsstatement, whdherdueto fraud or error. In prepaiing the financ￿1 5tstements. the trustees are responsible for asse55in8 the group and the parent ch3ritWs ablllty to continue 35 a goln8 concern, distlDsin& as applicable, rnatters relatedto goin8 conorn and uslng the going concern basls of accountlng unle$5 the trustees either intend to liquidate the group or the parentcharit¥ orto cease opeTations. or have no reallstlc altemative but to do $0. Auditor< rfsp0nslbl￿tle$ffjr the audii oé the financlal statements We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act. Our objectives are to obtain reasonable assurance abo￿ whether the iroup and paient financial statements as whole are free from material misstatement, whether due to fraud or error, and to issue an audttorfs report that Include5 our opinlon. Reasonable assurance is a high level of assurance, but Is not ) guarantee that an audlt conducted in accordance with ISAS IUKI will always detect a material mSsstaternent when it e￿st5. M55Statements ¢an arise from fraud or error and are consldered material if. IndI￿d￿allY or In the aggregate, they could reasonablv be experted to Influence the economic decisions of users taken on the ba515 of these financial 5tstements. Irregularities. intluding fraud. are instances of non-compliance with laws ènd regulations. We design procedures In Ilnè with our responsibilities, outlined above. to detect material mlsstatements in respect of irregularities, includin8 fraud. The specffic procedures for thi5 en6a8ement and the extent to which these ore capable of detecting irregularitles. including fraud are detalled belaw. Identifying and assessing rlsks related to irregulèritie5.' We a55e55ed the susceptibllltv of the group and parent ¢harity's financial stètements to material misstatement and how fraud tnight occur, including through distU55ions wlth the trustees. dlscussion5 Within our audit team plènnin meetin& updating our record of internal controls and ensuYin8 these tontrols operated os intended. We evaluated possSble intentives and opportunitles for fraudulent manlpulation of the financial Statements. We identified laws and re8ulations that are of S￿nifiCanCe In the ¢ontext of the group and parent charity by discussions Wlth trustees nd updatingour understandln8 of the sector In whith the 8roup and parent charity operate. Laws and regulations of direct sl8nlficènte in the context of the group and p¥rent chèrty include the Charities Act 2011, the Charities (Account5 and Reports) Regulations 2008 and guidance Issued by the Chartty Commission for England and Wale5. Further the charity is subject to other18ws and regulations whère the consequences of non- cornpliance could have a rnaterlal effect on amounts or disclosures In the financial stateinerits, through significant fine, litigation or restriction5 on the charity's operations. WÈ identified the most signific8nt law5 and regulations ta be the Independent school Standards as found in the Education and Skills Att 2008 and gUIdan￿ issued by the Department for Education. 21 Independent auditorfs reportto the Governin8 Body las trustee) of Ashville College {¢ontinued} Audlt response to risks identified.. We considered the extent of compliarKe with these laws and regulations os part of our audlt procedures on the related financial statement iterns including a re￿e￿ of financial staternent disclosures. We revSewed the parent charit¢s records of breaches of laws and re8ulatlons, minutes of meetings and correspondence with relevant uthorities to Identify potential material misstatements arising. We discussed the parent charit15 policies and procedure5 for compliance with liws Ind regulations with mernbers of man38ement responsible f0rcomp51an￿. Durlng the planning rneeting with the audit tezrn, the enEogetnent partner drew attention to the key areas whSch might involve n￿-Cot￿P1Iènte with laws and regulations or fraud. We enquired of management whether they were aware of any instan￿$ of non-compliance with laws and regulotion5 or knowledge of any actual, 5U5pected or alle8ed fraud. We addressed the risk of fraud through managernent override of contro15 by tÈsting the appropriatene55 of journal entries and identifying any slgn1ficant transactions that were unusual or outside the norr￿1 course of business. We asse55ed whether judgements made in making accounting estTmates gave rise to a possible indication of managerneDt bias. At the completion Stage of the audit. the en8a8ement P3rtner'5 review included ensuring that the tÈam had approathed their work with appropriate professional 5cepti¢ism and thus the capacity to identify non-compliance with law5 dnd re8ulations and fraud. Thwe are inhe￿flt Ilmltatlons in the audit procedures descrlbed above and the further removed noTrcornplian with laws and regulatlons is from theÈvents and transactions reflected in thefinancial statements, the less likely we would become aware of it. Also. the T15k of not detecting a material rnisstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by, for example. forgery or intentional misrepresentations. orthrough collu510n. A lurther descripfjon of our responsibilities is available on the Financial Reportlng Council'5 webslts at.. auditorsres on . Thls descript1on forms part of ouraudltorfs report. Use of our report This repcrt is made solely to the parent charity s trustees. as a body, in a¢cordance with Part 4 of the Charltles (Account5 and Report51 ReEulation5 2008. (Xjr aud1t work has been undertaken so thèt we rnight stateto the parent charitytnjstees those matters we are requlred to state to them in an audltorf5 report and for no other purpose. To the fullest extent pertnitted by law, we do not accept or assume responsibility to anyone other thon the pèrent charity and the parent tharitrfs tru5tee5 as a body. for our audit work, for this report. or for the opinions we have formed. [.(F* LLe ............ Saffery LLP Chartered Accountants 10 Wellington Place Leeds LSI 4AP siatutory Audltors Date.. 31 March 2025 Saffery LLP is eligible to act as an audltor In terms of secfjon 1212 of the Companies Act 2006 22 Ashville College Consolidated statement of financial activitles lor the yearended31 Augu5t2024 Utyrestricte lunds Réstrirted lunds 2024 2023 Note5 Incomln8 fèwut¢es Inromefrom charltothle •¢tivitieJ Fees recewable Less. Scholarships and bwsarles 15.124E21 1929.0891 15,124,B21 14,117,187 11.044,8031 11,120,1101 1115.7141 Net fees receNable Incomln9 resour¢esfrorn qeneroted Iwids Tradln8income Bahkand other interest Sundry incorne Donations/Gr3nt5 14,195.732 1115.7141 14.080x118 12,997,271 692,657 4.859 62.937 50 69I657 4.859 61937 366.969 670,512 58 45,742 103,917 366.919 Total I￿¢¢)MIng Msovr¢es 14.956,Z34 251.205 15.207,439 13.817.526 Resources eMpettdÈd Costsof genertttly¥fvtsds Tradln8expenOiturt De1Yec￿tlQTh 1409,5251 1409.525 17691 1398.9191 1410.Z951 1410.2951 1399,6881 Chorltobleocthiltles TeachiTrg c05t5 Welfèrè 17,131.7521 12,441,884) 11.621,8Z61 12.319.7Y#I 1767.3881 IS7,8251 12S.3431 Izo.000 115891 17.134,3411 16,825,799> 12,441,8841 12,090.2851 11,6ZI.8261 11,423,3711 12.319.733) 12,197,551] 1767.3881 1689,4441 157.8251 190,3301 125.3431 116,4Jrii 120.W) Supportcosts Depreaatio Finance and othercosts Governancecosts Grants Profitl IL0551 on diswsal ol tan8lble assets 25,740 25.740 161,9521 Tot¥1 resour￿￿ expended 6ft 114,770J051 I2￿89) 114,772A941 113,695.3201 Net lTrcornln8 resouF¢es 185.930 248.616 414￿5 122,206 riet movemethtln fund$ TtsDsFerbetween reserves Balanresa5 al l September 2023 185.940 Z50,000 16ffj57,980 Z48,616 1250.0001 25.835 434￿4$ 122.2( ,6￿￿15 16J61.609 8¥Lyncescarrled Forward •¢ Ji Z024 17,093,910 24,451 17,118.360 16,683,815 The notes on pages 26 10 44 fofm part of these flnancial statement5. The charity has no recognised gains or losses otherthan the net movement in funds forthe year. All actlvities relate to continuSn8 operatlons. 23 Ashville College Balance sheets os ot31Augu5t2024 Notes Consolldated Coll￿e 2024 2023 2014 2023 rimed •yJets io ZO.122.599 20,036.465 ZO.IZO.290 .000 20.033.388 io.(ts) Inve5trnent5 Zo.122￿99 20,036,465 20.130,290 20.043,388 Ctsrrènt ass•ts Stocks Debtors Cash at bènk and In hand S.J43 392￿89 1362.027 13,510 349.072 1,301.609 5,036 3JZ,860 2.107.744 13,20 310.613 1.028.811 12 1759A59 1,664.190 2,445.640 1,352.627 Credl¢O¢S omouJ>ts fvlllng due wllhln one yeor Payments rece￿ed on account Trade credltors 15 12.721.371) 12,431,919) 1148,8421 1108,3311 11.248.143) 1941.7731 1280,9431 1273.2171 11721.3711 12.428.6441 1147,5851 (104.7401 11,204,833 1905,7671 1280.943 13 14 83nk loan 14.399,3001 13,755.2391 14.3S4,73ZI 13,712,1671 Net current Habllltlé£ 1,619.81Jl 12,091.0491 IL909.0921 12,359,7401 cred1to￿ umounts fvlllng due ofter one yeur Advance fee payments Other creéirors Bank loan Is 1556,3191 1333,5711 1474507 1556.319 1333.570 1474.5071 136,3921 1481,5141 1743.6951 1481.5141 1743,6951 Totsl neE a55ets 17,118,361 16,683.815 16,B56.802 16,422,048 Fund$ Unrestritted lunds un-de5ignoied unrestfitted funds deslgnttted 16/18 17 I17.084￿42￿ 116,648,711) 19,269 124.4511 116.823,OB21 116,386.9MI 19,2691 19.2691 114,4511 125,8351 Total fvnds 117.118A61I 116.683,8151 116A56.B021 116,42L0481 roved bythe Governing Body on.¥...Mx44...IuA%..... and signed on thelr behalf by.. tyles Director, A5hville College Twstee Limited 24 Ashvllle College Consolidated cash flow ststernent Aorthe yearended31 August2024 Note 2024 2023 ri&tu$h kn1hiwfr¢N￿opÈrat1nS athities 19 IA?4,900 351,376 R•turn on InvestmeDts and SeNI¢l￿of flnance lrttere5t received Interest Pay3¥e 4,859 140,9131 58 147,6661 136,0541 147,&)81 Capital expènditu￿ and finart¢￿I IDvesime Purchase ot taneible fixed assets Profit on dispD5al of tan8lbk tixed a$5ets 1759,1701 43,780 15.647 17153901 177,7251 Flnancln8 REpayrnent Df capitsl derneTrt Df bank loan Repayrneniof finance Peases Capital financing 1261,4611 1176,4591 1253,1171 150.6581 1437,9101 1303,7751 Fee fjn Advance Scheme New fees in advance money due wSthln one year New fees in advance money due tnore than one year 218,565 556,319 774A84 In¢rèA5el¢de￿a5el in rash duilni the PErhid I￿60￿19 1106.3921 Cash bal•nGe bwouiht forward Movement I.301￿08 1,060.419 2J61027 1.408IWI 1106.3921 J301.608 C•$h balanc4 carrled forward 25 Ashville College Notes for the year ended 31 Ausust 2024 {formingPGrtof thefinGnci015toternent5J Accountfjng pdlcle5 The flnancial statements are prepared in at¢ordance wlth the CharitSes Act 2011 and with the Charitie5 St8tÈment of Recommended Practice I'SORP IFRS1021"l ènd Financlal Reporting Standard 102. Bosls oAae£ountl*Jg The flnancial statements are p￿pared under the hlstorical cost convention a5 modified by the revaluation of investments at market value. Prepar¢ption offifvoncltslttotements-qolny concern See Going Concern statement above. A5 in previous years, the principal uncert#inty faclng the College is pupil numbers. Increèslngly, pressures On costs are becoming a concern. The budgetfor 24125 is therefore built around redured pupil numbers and Governoys have examined a range of ¢ost-cutting measure5 that can be irnplemented if required. Th55 gives the Governor5 reèssurance that the College will maintain current suTplus leve￿. The charivs financial p051tion and performance has been outllned in the financial review above. The Governor5 have assessed proJ￿ted future income, expenditure and cash flows over the period to September 2025, and anJly5edthe stren8th ofthe charity's re5erve5 and liquid assets and its ability to withstand a m4terial fall in incoming resources. Conslderation has been given to projected pupil numbers, pupil.. teacher ratios and all known and projetted costs in making this assessment. The financial performance of the College Is reviewed every ham term, ènd the cash flow is re￿eWed termly. by the Finance and General Purpose Committee. This level of strutlny and the prudence built into the forecasts mlnlmlses the risk5 relatinglo the cash flow forecasts. In the IEght of all available evidente, the Governors have concluded that there is a reasonable expectation thèt Ashville College and its subsidiary have adequate resources to continue thelr activities for the foreseeable futtjre. AccoTdingty, theycontlnue to adopt the going ¢oncern basis In preparin8 the firyan¢lal statements. Fu1￿￿e£0￿nt1ng Restricted funds represent Efants. donations and legaae5 which are allocated by the donef for specrft'¢ purposes. Designated funds comprise unrestricted fund5 which have been set asK4e by the Governors for particular purposes. The aim and use of each designated fund is set out in the note5 to the financial statement5. General undesignated funds represent unrestricted Income which is expendable at the dlscretion of the Governors in furtherance of the objects of the Charlty. 8usls olconsolidation The accounts have been Consol￿ated to irttlude the ColleEe's trading 5ubsidlary, Ashville TradlnE Ltd. Incotne and empendlture from the trading subsidlary ère consolidated Into the financial statements on a line by line basis. No separate SOFA has been presented forthe Charity alone, as permitted by Section 408 oftheCompaniesAct 2LYJ6. ￿1 lsnèncial statements are made up to 31 AuEUSt 2024. 26 Notes Icontinued) Ac£ountln8 polldes Icontlnuedj Incomlnby resources All income is recognised in the statement ol financial activities when the conditions for rec*w have been met and there is reasonable assurance of receipt Where 4 claim for repayment of incorne tax has or will be made, such Income is 8rossed up for the tax recoverable. Thefollowing accounti￿ policies are applied to incotne. Fee income repre5ent5 lees for tuition and boarding provxled to pupils during the year. Fees are account￿ for on a receivable ba515_ Any fees re￿iVed in advance are deferred. Investment Incowe is a¢¢ounted forwhen receivable. Tam recoverable relatin8 to Invesiment income is accounted for in the same period ès the related income. Legacy Sncome Is included when the charity Is advised by the personal representatlve of an estate that payment will be made, and the amount involved can be quantif￿￿. Expenditure I costs are allocated directly aCCOTdingto theirfunction within the chaiity asfollows-. Charitable costs are those Incurred In the day-to-day runnlng of the colle8e.' Cost5 of generatingfunds are incurred in the rai5iDg and rnanagernent of funds from other sources. or funds segregated for specific. designated purposes,. and governance c05t5 are those incurred in fvwilling the charivs statutory obligatlons. Cosh Mdliquidresovr¢¢s Cash, for the purposes of the cash flow statement, cornprises cash in hand and deposlts payable on dernand, less overdrafts payable on demand. Stod( Stock Is valued èt the lower of cost less provlsion lor ob501escence and Thet realisable value. F￿ed•$$etsO￿ddepreelot￿o Depreciatlon Is prowded to write off the cost or revalued atnount le5Sthe estimated residual valueof tan8lble flxed assets by instalrnents over the estimated useful etonomic life as follows.. P13nt and hxtures 10- 20% perannum Vehlcks 20% per annum Cornputer equipment JO-20% per aftnum Land 2% per annum Freehold land and buildings were revalued at open rnarket value for existin8 use at 31 August 1993 and have not been updated Since. The charity has frozen the valuatlon of these assets as the equivalent cost. Investments All investments a￿ valued èi market value at the balance sheet date, except the investment In the subsidiary company whith is dlsclosed at cost. Any changes In value in the year are reported in the Statwnent of Financièl Activities. and historical costs are disck)sed separately by way of a note. 27 Notes (continued) AccountlnB pollcles Iconrinued) Criticul occounting judoement5 ondkeysources of estimtstiun rfftcertainty In the application oftheChariW5 Bccounting policies, the directors are required to make1￿d8￿MentS, e5timate5 and assumption5 about the carrying amount of 4ssets and liabS1itle5 that are not readlly apparent from other sources. The estSmat*s and assotiated assurnptions are based on historical experience and other factors that are considered to be relevant. Actual results may differfrorn these estitnates. The estimate5 and underlying a$5umptions are revlewed on an ongolng basls. Revlslons to acwvnting estirD4te5 are recognised In the period In which the estim£te Is revlsed, If the revision affects only that period, or in the period of the revision ind future period5 if the revision affects both current and future perSods. Thereare no estimatesand èssumptlon5 whlch havea slgnlficant riskof causlnga materièl adjusttnenttothecarryinE amount of assets and l¢abilities. leoses Assets hdd under hlre purchase agreements a￿ capltallsed and dlsclosed under tènwble fiNed a5set5 at their fair value. The capital elernent of the future payment5 Is treated as a Ilablllty and the Interest Is charged to the profit and Ios5 3ccount in proportion to the remaining balance out5t3nding. Rentsls applicable to operating leases where substantially all of the benefits and risks of ownershlp remain wlth the lessDr are charged asainst profits on h Straight line basi5 over the period of the lease. Flnonciullnstnmiettts Thecharity only hasfinancial assets4nd financi41 liabilitie5 of a kind that qualify as basicfinancial instrument5. Bè%c finantial instruments are initially recognised at transaction value Hnd 5ub5equently measured at amortised cost. Advanced fee payment Icomp051tionl scheme-Thecomposrtion fees received represent a basicfinancial instrument and have been a¢eounted forwithin (￿ditOrS at Cost. Employee beneffts The cost5 of short-term employee benefits are recogni5ed as a liability and an expense, unless those costs are required to be recoEnised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement Is recognised in the period in which the employee's services are received. Termination benefit5 are reco8ni5ed irnmediatety as an expense when the cornpony 15 demonstrobty cornrnitted to twminate the employrnent of an employeè or to provide termination benefrts. Govemment 9runts Government 8rants are reco8nised at the lair value of the asset received or recelvable when there is reasonable a55urance that the Erant condition5 will be met and the grants will be received. Government grants relatin8 to Income are recognlsed as income over the perlods when the related costs are Incurred. Grants relatln8 to an a55et are recognised In Income sy5tematlcalty over the asset's expected useful life. If part of such i grant is deferred it is recogni5ed as deferred income rather than being deducted from the a5set'5 carryinE amount. Pension5 andotherpost-r¢tlrernent benefits The charity contributes to group personal pension sthemesfor staff. The assets ol the schemes are held separately from those of the colle8e in Independently administered funds. The amount charged in the yearly financial statements represents the contnbutions payable to the scheme in respect of the accounting period. The College also contributed to the Teachers, Pen510n Agency Superannuation scheme until 31 August 2022, defined benefit scheme foT It5 teaching Staff. 28 Note5 Icontinued) Acmuttting polities Itorttinuedl Toxotion As the College is a reglstered charlty no provlslon Is requlred lor Corporation Taxation on the College'5 charitable activities. The College's subsldlary, Ashville Trading Lid. is liable to Corporation tax. Current tax 15 provided at amounts expected to be pald lor recovered) usini the tam rate5 and laws thai have been enacted or substantively enacted atthe balance sheet date. Fees receivable 2023 Tultk>n fees Boarding fees 13.096.719 1.040.386 11,892.562 1.349A19 14,137.104 215,070 732,847 17.995 21,804 13.242,381 198,438 649,190 Day puplls meals Other fees and charges 27,388 Less.. Scholar5hip5 and bursaries I5.124￿21 11.044.8031 I4.080￿18 14.117.387 11,120,110) 12,*7.277 ' £115,7141undedvlo restrlctÈdftsnés12023." E103,4871 Sundry Income IOZ4 2023 Rent re￿i¥861e Tuckshop tradln8 proflt Other incotne 19.200 18,329 2SAO8 18.8( 18,049 8.893 62.937 45,741 Notes Icontinuedl Trading incoffle The tollege owns 100% of the Issued share capltal of Ashvllle Tradlng Llmited (company reglstratlon number 02617491 which provides 5POrts centrefacilities and letting5 during holid?y periods. The trading result5 extracted frorn its audited financial statements were.. 2024 2023 Turnover C05tof sa￿5 other Incorne 691198 1381.1011 459 670,512 1342.7141 Gross prol Adminlstrat￿e expen5e5 Government Grant5 Jll.556 191.1941 327,798 194,9721 Oper4t* profft Loss on disposal of tsnglble asset Interest payable & 51tnil?r char8es 220,362 232,826 Net profit before taxatlon Taxation charge 220.362 232,826 Retalned profvrforthefinanclal year 220.362 232,826 Ca*ralaTrd reserves alyear end 271.559 283,768 The agEregate of the assets liabilit*sandfunds wa 2024 2023 Assets 395.831 1124,Z711 354,814 171.0461 27L559 283.768 Aglft ald payment of E232,57112023.' £119,563lwas rnade to ASh￿1￿COllege durinithe year. Donalion$ UnrestrKted Re5trthd Toi•l 1024 2023 Donations Other Pdze Fund 366,919 366.969 103,637 300 366,919 366.969 103,937 Notes Icontinuedl Expenditure 20211 2023 Charitable expEnd￿Ure Includes.. Indemnlly Insurance for Governors OpetrtiDg lease èKpen5e In year Governance ¢o$ts ¢ncl￿d¢S.. Auditorfs rernuneratlon Fees payable to the charlvs èuditor for the audit of rhe charWsfinancial statements 4,037 83,498 79.329 20.000 I8,￿0 Stafl cost5 of the college Wages and saparies Social setufity costs Apprentlce levy 7,749.368 716.296 22366 947J05 7.104.307 656.471 19.879 863.869 9.48SN35 8,644,526 Key Mana8erneDt P•rstsThnel.. 1024 2023 A88regate 5alarles of key management personnel Iinc. pensio S18￿>4 740,921 31 Note5 Icontinued) ExpendI￿re Icontinuedl The nurnber of employees whose ernoluments exceeded £60k was.. NuThbEr Pen51on contributlon$ 202d 2023 2024 2023 £60.(K)1- £70.WO É70,fM)1- £80.000 80,Tr)1. £90,000 E90.(K)I. £I(KJ,O( EI(rf),001- ELLO,(ts) EILO.001- £120,0 £120,001- £130,000 £130,001- £140.QOO £L40ml- £150,(NJO 108.018 19.9YO 99.927 41.989 35,C Penslon contributK)ns are paid into a defined contribution occupatlonal pension scheme. Neitherihe Governor5 nor persons connected wth them retrived any remuneration or other benefitsfrom the Colle8eer any connetted or8anisation. in the current or prioryear. other than ￿1mburSeMent of out of pocket expense5. which totalled £nil kn the year12023.. £nill. In£luded in wage5 and salariesabove are redundancy payments of £132.64812023.' £43,931). The average nurnber of employees during the year was.. Headcount 2023 174 28 io 42 40 Z024 L73 28 li 47 42 Te3chlng Weware Premlse5 Support Trading 301 294 32 Notes Icontlnued) Analysi5 of total resourtes expended OeFKeclatlon Other and amortis*ion Stsflcosts Tot•1 2024 To￿1 2023 Costs of ien¢r¥tlh8 lufids Tradin£ expenditure 313,316 g6,21Q 769 410,295 399.688 313 769 410 Z95 Costs ol att1v1t￿$ In fvrtherance of thE charlrfsobjecrs Teaching costs Welfare Prernises Support costs Dewe[iat￿n 6,710,761 962,46S 379,140 1,383,OS8 423,580 1,479,418 1,242,687 936,664 7,134341 6.825.799 2,441A84 2.OW.285 1,621A26 1,323.371 1319.733 2,197,551 767,388 $89A44 767.388 9A35.435 4.082.949 767.388 14.28S.171 13,126,450 Governancecosts Finance and other costs Donation Grant5 IProlltllLoss on disposal of tanglble assets 25,343 57.825 25.341 57*Z5 16,900 90.330 20.000 125.7401 20MJO 125.7401 6L952 77,428 77AZB 169.182 Total vesour(esexpended 9,748.ISO 4.2SS.986 76B,157 111,77ZA94 13.683.320 Prlor Year CompaYative= DÈpreclatlon other and amortisJtloTr stsflcosES Ttstal 2023 Total 2022 C05tsof ieneratiTr8fvndi Tradln8 expeDditur 282.529 116,3 769 399,688 323,340 281S29 116390 769 399fi8B 823,340 Casts of actI￿L￿5 In Ivrtherance of the charlty's obSects Teaching costs Welfare Premises Supportcosts DeprecLition 6,342,069 740.035 361.834 1,2(K).588 483.730 1.350.250 961,537 996,962 6,825,799 2.*￿,285 1,323.371 2.197.551 689.444 7,233,957 L879.222 I.Oq7,09D 1.961,108 763,053 689.444 .644.526 3,792,480 689A44 13.IZ6.450 11884,429 Govern¥nce c05t5 Financè and othercosts Loss on dlsposal of tan8lble a55ets 16, 90,330 61,952 16,900 .330 61.952 13,587 86,775 169,IB2 169.181 110,362 Total re5ource5eMpeThded 8,927.055 4.078.052 69).213 13,695.310 13.318.131 33 Notes Icontinuedl Corpor•tioth Taxation The corporatlon taxatlon charge and year-end liability relate5 to the non-charitable trading activrties of the trading subsidiaryi Ash￿lIe Trading Ltd. 2024 2023 Currerttsix UK corporatlon tax Adju5tfflent5 In re5pectof prlor years UKcorporètion tax The rate of current lax for ihe yeJr, based on UK standard rate of corporation tax for small companies is 25%12023". 19%). The attualtax chargeforthecurrÈntyear and the p￿vioUsyeort1rffers frorn the stsndard rate for the reasons set out In the following reconclllètlon. ZOZ4 Z023 Profiton ordinary actiwties charytrable to coworation tsx 220,362 232,826 Expected tsx ch6rge at 19*12022.. 19%) Fartors affectingthe charge for the yEar. Depre¢iition in exce55 of Capital Allowance5 Short term liming dlffefences Losses carrled fDrward Movement In penslon provlslon 55.091 44,237 192 61 Corporation Tax payable pre-8Wt ald donation 5S,J44 44,188 Tax effÈciof Glft ald D1stributkJn to ￿ made 155.3441 144,1881 CorporationTax PaYa￿e PDSt-grft aid donation Intangible Fixed Assets All Intanglble fixed assets a￿ held In the tradln8 subsldiary.. TtachiA8 Resothtces Cost At be8lnnln8 of theye3r Additlons At end oltheyear 7.OLXI 7.0 Amortlsotlon At be8lnnln8 of the year Chir8e forthe year 7,OCY) At end oltheyear 7,0 &ook At 31 August zu At31 AUEUA 2023 Notes Ictsrjtinuedi io. T0nBible Ilxed assets C014SOUDATED A55et utWer of ¢On$t1￿tIOn Fweehold Cornwter land •nd E9￿[Pn￿￿¢ Flxture5 Motor And And vehicles Fltlln8s Mathlnery To¢al Costoivolth?tlon At be8innlngof year Additions Di5wsals Transfer to other category 11493 26.673.998 35,379 460.837 2.639.945 2,201.790 59.728 12.183 118,0401 689,590 59,650 31277,466 196,360 107,842 872,330 15,9221 123.9621 Atend of year 47,872 27.184.835 2,681,633 2,213,973 8W.028 167A92 33,125.833 Depreclotl At beglrtning of year Charge lor year Dlsposals Transferto othercategory 7,498,160 433,176 2,147,204 1,922,190 228,244 63,568 620,620 23,49) 15.9221 51826 11241JMK) 19,680 768,157 15,9221 At end of year 7,931,336 137S,448 1,98S,758 638,187 71506 13,W3,235 At31 AU£￿t Z024 At 31 Au8USt 2023 47I72 19,203498 12.493 19,175,838 3Q6.185 492,741 228.215 279,6(X) 24L841 68.%9 94,986 20.122.599 6,824 20.036,465 Assets under construction indude Initial xoplng for development of the Greenholme boardlng hoyse and website devek)pment. All tangible fi¥aJ asset5 are used for direct tharltable purposes wlth the exception of the a55ets within the tradinE subsldiary. These are an8ly5ed as follow5.. N*t bookvalue at ai 2024 Assetunder uisi Df Freebjld landan Ilthws Comw Equiprnent FI￿vre5 nd ttlrrfs p*èt4r ¥*hldqs Totsi And Mathlnqry Dlrect Charitab pJrposes CoNe 47,872 19.203.499 306,185 125,9Q7 241￿41 94,986 20,120,290 2,308 1308 47,872 19,201499 311&115 228.215 241.ui .916 2Q122W9 I freehold land 15 included within Ashville College. No depretiatton has been prO￿￿ed on freehold land, which has been Included at a valuation of £4,367,14412023.. £4,367,144). 35 Notes (continu io Tanglble fixtd Assets Icontinuedl COLLEGE Asset under couvse of COnStructi( Computer Equlpment Firtures And Fittlngs PlaTrt And Mathinery Mutor vthl¢l¢$ Total land •nd buMdin85 Costorvoluatlon At be8innln8 of Year 12,493 35.379 26,673,998 460￿37 L638.144 S9,728 118,0401 2,179.940 12.183 689,590 196,360 15,9221 59,650 31￿3.814 107.842 872,330 123,9621 Dspo$315 TtsnsFerto other category At End of year 47,872 27,134.835 2,679,832 1.192,123 880,028 167,492 33,102,182 Deprerkntltsn At bÈglnnln8 of year Char8e foryear Disposzls Transfer category 7.498.160 433,176 2,145,399 228,244 1.903.417 62,799 620,620 28,490 52,826 12,220.422 19,680 767.388 15.9221 to other Atend of year 7,931,336 2 373 643 1,966,216 638,187 72,5(￿ 12.981.888 Net boDk volue At 31 August 2024 At 31 Au8USt 2023 47.872 12.493 19.203,498 19.L75.838 306.185 4192.741 22S,9D7 276,523 24L841 68.969 94.9B6 20.120,290 6,824 20,033.388 The historical c05t of ￿ValUed freehold land and bulbdinR5 within College Is.. 1024 2023 2.077,9Zg 1919.469 2.077,929 1877,9111 Accurnulated depreclatk) Hlstorical costnét book value 1.158.460 1,2CQ,018 The net tarrylng amount ol assets held undeTlinan¢e leases at year end Is £353,56312023.. £343.4641 ii. ve51meiitS £¢￿5011datrd Total Call•g• Total Marketvaltseat I September2023 10.000 M•rket¥alue ai 31 AuBu4 2024 io.( Analysed as Investment in subsidlèry iO,IKX) Totsl io.cK*) 36 Notes Icontinuedl 12. Debtors tonsolldaied Colle8* 1014 2023 2023 FeÈand trade debtors 155,218 84.371 16.453 79.704 17,864 28.174 Amounts owed by sub>cliary undertakln8 Taxation and 5odal Securlty Otherdebtors Prepayments 14,376 86,307 164,018 14,376 86,180 164,018 Y51.729 85.071 151,631 85.071 392 13. Credltors.. am¢)unis lallinz due wlthln Me year Consolldatéd 2024 Cole8e 2024 2023 2023 Othet tyed*ors due wllhlTh l year rnprise.. Tax3tion and 50cial security oihercredltors Lease Accrua15 215.841 423.114 103.746 505442 182,601 365,016 80.797 313.360 192.141 411.718 103.746 197.026 164,421 351237 80.797 3Q&312 77 14. Bank loans As noted In previous accounts. the Colle8e Ss nearlng the end of two ten-year loans from Lkiyds, and will omplete repayment in February and October 2D27. These are secured on two residential propertles belongingto the College. In 2024125, the Colleee Intends to move the charge toa dlfferent propertyso that one or both of the residential properties cèn bÈ sold. The following bank loan security is in place.. An unlimited all rnonies 8uarantee fTom A5hville College Trustee Ltd. An all monie5 guarantee froffl A5h¥ille TradlTr8 Ltd for a principal amount of £2m plus Interest and other costs. 2024 2023 RepayabJÈ wrthln one y¢•r Between one and two year5 8eiween two and flvÉ ￿ar$ In more thaThf￿e Yeafs 28OJ43 289.271 185,236 273.217 181,127 462568 755AS lJ)16.912 37 Note5 Icontinuedl 15. Payments received In advance CtsnsolHl•ttd 2024 Collt8¢ 2024 2023 2023 Advance fee5 Afters years Wlthln 2 to S years withln I to 2 year5 21,410 292,274 242.634 21AIO 292,174 242.634 247 36.145 247 36,145 SS6,319 36,392 556.319 36,392 Wtthin Iyear Advance fees Payment5 on account Dewsits 234,842 2.Z70.?63 215.766 66.035 2.128.639 237,245 234￿1 2.2?0,163 215.766 66,035 2,128,639 233,970 2.721,371 2,431,919 Z.721,371 2,428,644 3,2n.690 2.468.311 3.277,690 2.465,036 Paymentsrecelved In advance includesfeedeposrts, paymentson account in respect of thefollowingterm's fees and advance fee5 where parents entÈr into a contract to pay ro the school severèl years, fees Sn advance. ThÈ money relatingto advance fees may be returned subject to specific conditions on the rec*pt of one term's notice. Theabove assumes these puplls will remain in the school. The payments received in advance balance Tepre5ent5 the accrued liabllity under the contract5. The movements during the year We￿.. Balance at I Septernber 2023 Fees In advance for 2023124 Fees in advance for after 202¥24 Movernenton dep051ts AmouDt5 Utiltsed ID payment of fees 2.465.036 2.505.605 534.908 118,2041 I2.2￿,6$5) Balance at 31 August 2024 3377,690 16. Undeslznated funds Reyaluatlon Retalned Jrpluse5 arcount Consolldated reserve Balan¢e at i September2023 Surplus from st3tÈmentof flnanclal attl￿tIeS Transferred frorn re5trlcted reserves Tran51er between funds 5.154*Z4 IIN93A87 185,930 250.OQ) 101568 16.648.711 185.930 250￿ 1102,5681 Balanceat 31 A￿lUSI 2024 S￿51257 11032J84 17.084ffj42 38 Notes Icontinuedl 16. Undeslgnoted funds Iconrinued) Revaluaiion reserv• ftetaI￿ed surpluses wunt Coll•8• Total Balance at L SepLember 2023 Surylu5 frorn statement of fin3nclal activit￿5 TTrDsferred from restricted reserves Transferbetween funds 5.154.825 11.232.120 206,139 250.fy)0 102.568 16.386.944 2￿.139 250MOO 1101,5681 Balanc• * ai Av8USt 2024 S￿52.257. 11.770,826 16AJ.082 17. Other funds f4et OutBolng Transfer ¢o/from Resourtes other reserve lan(e 91-A￿l.14 Consolldated 31-Aui-23 ve50urces Restrirted income funds s.oc 19.385 Annual Fund FoundatK)n other 12.5891 1115,7141 16,796 115,714 251,205 1,450 12SO,(MMII 2.655 25.835 366.919 1118.3041 1250.0001 24.451 Uniestrirted Incvme funds Oeslqnotedjunds Homerton fund 9.269 9,269 De*nated fvnds 9,269 9.269 Undesl8naied luhd* 16,648,711 185,930 250,000 17,084,642 Tot•1 fund5 16,695.815 552.849 1118,3041 17,118,361 39 Notes Icontinuedl 17. Other fvnds l¢ontinuedJ Balance Net OutgOiRI Transfer tol Balan Colieze 31-Aui-Z3 ITrcDrnln# resouKes Res0￿￿e5 Diher reserve 31-Au¥-24 Re$tfXted income funds prtze Fund Annual Fwd Foundatio OthEr 5.000 19.385 5,000 16,796 12.5891 1115,7141 115,714 251,205 1.450 1250.0001 2,655 25,835 366,919 1118,3041 1250,CrfJOI 24,4SI Llnrestr+cted inEume fut)ds Desiqnotedfund5 Homerton fund 9,269 9,Z69 De51Knated funds 9.269 9.Z69 unde￿￿*te￿ fvth4$ 16,386,944 L86,139 250,0(X) 16,823,082 Tot•1 fvrtds 16.422,048 553.058 1118,3041 16.856,802 The purposes of these funds are.. other- The Fergu50n Fund was a £250k donation from an ad Ashvllllan- Gordon FÈr8uson- to provide fa¢llities for'pupll study and re¢￿atiOn, Thls fund was used to develop the Year 11 Hub and Gordon Ferguson Roun during the summer of 2024. The Prize Fund includes donaticn5 to the College to fund 5peech-day prizes.. The Annual Fund 15 rnade up of numerous small donations retelved during the year from the FrSends of A5hville and from alumni. The Annu31 Fund wlll fund the purchase of various items for use acr055 the College,. and The HomertDn fund comprise5 a donation to the charlty which has been set aside for the Specific purpose of encouraging pupils to apply to Oxford or Cambridge Universities. orher funds include a £l,DOO (bnation for the music department and £205 for a drama prlze received during the year. 40 Notes Icontlnu 18. Analy515 of net assets between funds Consolid•ted UnrestrlciÈd Vnre51ri¢¢ed nds luTrds deslgntsted Res¢rT¢ted nds Total funds Funds b8lJnces at 31 Auiust 2024 are repiesèhted bv 20,121599 20.122,599 Currenrasset5 1725,739 15,763.6961 9.269 24.451 2.759,459 15,763,696) Total nei a55ets 17,084.642 9.269 24,451 17.118,361 Collqe nie5tr1cted ilnrestritted fut￿$ funds un-design(Jted deslgnoted ReStri￿*d fund5 Total Funds Funds b•laJKes at JIA￿U$l 2024we repres4nted bv 20,120,290 io,wo 2.411,920 15.719.128) Investments Current asset5 20.120,290 io.th)o 2,445,640 15,719.1281 9,269 24,451 Total het45sets 16W3.082 9.269 24.451 16.856W2 Prior Ye•rCornparatlve.' Cothsolldatsd Utsrestricted U*re5twlrted I￿ndS It￿d¥ un.dWgnored de51onoted Restritted Totsi fund5 Fund5 balanc•sgt 81 A¥￿st 2023 are repvesented by Tangl￿e flxed assÈt5 20,036,465 20.036.465 Currenrassets 1.629,086 15.016,8401 9,269 25,835 1,664.190 15.016,8411 Total net asse¢$ 16.648,711 9369 25.815 16,683.813 College Unrestricted Unrestrkted funds fund% vJ)-dÈsigtyilteLI des1gF￿re￿ ReSt￿l￿d nds Tot41 Fwnds Fundsbalan<é$ wt 31 A¥ust 2023 are rewe$ented by 20,033.388 io,wo 1.317.523 14,973.%71 20,033.388 io,wo 1,352,627 14.973.967) CtsrrÈnt a55ets 9,269 2S.835 Total Detass•ts 16,386.W 9.269 25,835 16A22,048 41 Notes Icontinuedl 19. Recondlia¢ioD of revenue surplus to net ￿$h knflow from Oper￿lfig a(￿¥110e5 2024 2023 Net Incoming resources forthE year Interest recdved Inte¢st pald 434,S4S 14,8591 40,913 768.157 125.7401 8.167 143.0171 2%,733 122,20S 47,666 690,213 61.952 702 37,471 1608.7761 (Profiti / Los5 on d15posèI of fixed asset5 Iincreasel l Decrease in stock Iincreèsel l Decrease irt debtors Increase/lDecreasel In credirors Netcash Inflowfrom operat1ngacti￿t[es IA74.900 351,376 Lease commltments At the yearend, the Charity had outstanding commltmentsforfuture mlnlmum lease payments under non- can¢elSable operating leases and finance leases which fall due as follows-. 2024 2023 Operatln8 Leases Within one Veèr Between one and five years 67,639 48.311 80,317 96,068 115,950 176,385 2024 2023 Flngnce Leases Wlthln one year 8etween one Jnd five years After flve years 124.516 184.497 80,797 270.744 309.013 351,541 21. Flnandal Instruments 2014 2023 Carryh8amount of financlal assets measured atamortised cott ISS.28B 84,371 Carryln8 arnount of financlal liabilities measured at amortsed cost 1.409,735 1,438,602 42 Notes l¢ontinuedl 22. Pensions Teaching staff are enrolled In a MIST8roup defined contribution scheme adn￿nIStered by Legal and Gèneral insurers. Support staff penslons are provided by Scottish Widow5. There have been no changes to the arran8ements during the year. 23. Consolldated stalernent of Ilnancial actlvltlesfor the year ended 31 Auzust 2023 Utyrestri(ted fvnds Restrlrted luTrds 2023 2022 otes ifycorning resouwce5 I￿oMe￿r&I￿ cfi0rx￿&It ry(tivities FÈès re¢ewible Less-. Scholarship5 and bur5arie5 14.117,387 I1￿16.623) 14.117,387 IL120.1101 12.869.918 1989,8471 1103A171 Net fees reCe￿able Incomlnq resource5 from genernted lund5 Trading income Bank and other interest sundry Income Donation5 1 Grants 13.lfyJ.764 1103A871 11997.Z77 11,880,071 670.512 58 45,742 670.512 58 45.742 103.937 545.258 67 28,658 254,237 103,937 Tot41 Inwminl re50urGes I3.817￿6 450 I3￿17.516 11708,291 Resotsrt•s expended ¢DStsoJgeJ¥ei#th4fvnds Tradin8 expenditure Depreciation lJ98.9191 17691 139B,9191 1769 1323.2351 11051 1399.6BB 1399.6881 1323,3401 ChorftobleoctiviTries Teachin8 Costs Welfare PremL5e5 SupportCQ5t5 Deprecratio FirtancE and other costs Governance costs ILossl/Profrt on disposal of taD£ible 16*19.8661 12WO.2851 11323,3711 12.197.551> 1689.4441 190.3301 15.9001 5.9331 16.825,7591 17.233,9571 11090,2851 11.879.2221 11.329,3711 11.047.0901 12.197.5511 11.961.1081 1689.4441 1763.0531 190.3301 186,7751 116.9001 123,5871 161.9521 Tot*1 rewurEeseKpended 113.689.3871 15.9331 113.69S.3201 113.318,1321 Net I￿OrnI￿ yes0￿￿45 127,689 15.4831 IZI206 1609.8411 Net movement In funds TraDsferbetwe£n reserves alances a5 at I September 2022 127,689 15.4831 122,206 1609.8411 1&590.291 9¥318 17.171A49 Balancesta￿lEd forwar4 •t 31 Au8u5t 2023 16.657.980 25OJS I1683￿15 16.561.608 43 Notes Icon¢inueol 24. Related partytransactions At the end ofthe year the College was owed £79,70412023.. £28.1741 from Ashville Tradine Ltd In the yearthe College spent £1.014 with William G Search 12023.. £L,0501. a tompany of whlch one of the Go¥emors Is a dlrector. Governors. e¥pen5es in theyear were £nll12022. £nill. The College received £115.714 12023.. £103.48n frorn The Ashville Foundatlon.. th15 Was Used to fund bursarie5 for Current puplls. College made a donaticn in theyearof £20.OODtotheAshwlk Foundation. The balan￿ atthe year-end was £77,13712023.. £nill, included In other debtors. 25. Re8lstered Address The reEi5tered addrÈss of the Charity and Ashville College Trustee Llmlted 15 Ashville Colle8e, Green Lane. Harr¢gate, North Yorkshlre, HG2 9JP. A5hville College Trustee Limited is reE15tered in England and Wale5 with the Company number 4552232.