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2025-08-31-accounts

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Ashville College

Report & Consolidated Financial Statements

Registered Charity: 529577

For the Year Ended 31 August 2025

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Contents

Governors, officers and advisers 3
Report by the Governing Body acting as trustee for the charity, Ashville College 4-12
Statement of the Governing Body’s responsibilities 13
Independent auditor’s report to the Governing Body (as Trustee) of Ashville College 14-16
Consolidated statement of financial activities 17
Balance sheets 18
Consolidated cash flow statement 19
Notes 20-38

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Governors, Officers and Advisers

GOVERNING BODY

The Governing Body of the charity during the year has been Ashville College Trustee Limited; the Directors of Ashville College Trustee Limited are referred to as ‘Governors’, or members of the Governing Body. The Directors who held office during the period were as follows:

James C. Search [#] Resigned 31 August 2025 Greg Styles[1 2 3] Chair 1 September 2024 Paula Jackman[1] Anne Vautrey Resigned 31 August 2025 John Wood[2] Jonathan Oxley[3] Stephen Andrews[# 1] Beth Mottram Resigned 31 August 2025 Holly Chaplin[!] Resigned 31 August 2025 Nick Hair[! 1 3] Adrian Precious[ ! 1 2] Thomas Averre[1 2] Sam Essen[! # 1] Appointed 1 September 2025 Sophie Willis[# 2 3] Appointed 1 September 2025 Darren Morton[1 2] Appointed 1 September 2025 Helen Jones[2 3] Appointed 1 September 2025 James Foster[! # 1] Appointed 1 September 2025

Director of Ashville Trading Ltd

! Parent

1 Finance & Governance Sub Committee

2 Education, Welfare and Enrichment Sub Committee

3 Governance and Nomination Sub Committee

None of the Directors had a beneficial interest in any contract to which the company was a party during the year, except as disclosed in note 24.

OFFICERS (Key management personnel)

Rhiannon Wilkinson MA (Oxon) MEd Head Richard Rooze Clerk to the Governors & Bursar Phil Soutar Head of Prep Owen Hillier Deputy Head (Academic) Laura Jackson Deputy Head (Staff) Claire Whitaker Deputy Head (Operations) Jennifer Hirst Director of Marketing

ADVISERS

Auditor Solicitors Bankers Saffery LLP Schofield Sweeney LLP Lloyds Bank 10 Wellington Place 76 Wellington Street 8 – 11 Cambridge Crescent Leeds Leeds Harrogate LS1 4AP LS1 2AY HG1 1PQ

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Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025

Ashville College Trustee Limited as the sole Trustee of Ashville College, presents its annual report for the year ended 31 August 2025, together with the audited financial statements for the year, and confirms that the latter comply with the requirements of the Charities Act, the Trust Deed and the Charities SORP (FRS102).

OBJECTS, AIMS AND OBJECTIVES AND ACTIVITIES

Charitable Objects

The Charity’s primary object, as set out in its Trust Deed, is the advancement of education, including the provision of boarding and day schooling for boys and girls within the context of its status as a Methodist School. The Charity also has to maintain its heritage endowment, which includes the College buildings and environment.

Aims and Intended Impact

Within these objects, Ashville College’s aim is to be recognised as the school of first choice in the Harrogate area to realise academic abilities, nurture individual talents and develop all-round character, in a climate of positive expectation and within the Methodist traditions of the College.

Principal Activities in the Year

The Charity principally provides education in Harrogate to boys and girls from the ages of 2 to 18 years.

Strategic Report – objectives

Under the visionary leadership of Rhiannon Wilkinson, Ashville has entered a new era. At its core is a commitment to fostering high academic standards, cultivating, and equipping pupils with the skills needed to navigate a fastchanging world. Our philosophy shapes every aspect of school life. The “new” Ashville includes five main objectives:

  1. Ashville is an academically ambitious school: We are very keen that pupils of all ages flourish in academic terms. We are focused on creating an academic culture of high expectations and aspiration so that they will gain the best possible results they can attain in public examinations. At the same time, we aim to inspire a love of learning for its own sake by promoting the intrinsic value of the subjects we offer. True education is not simply ‘delivering’ a curriculum and examination syllabuses: it is about nurturing the joy of learning and curiosity about many aspects of life. Fundamentally it concerns appreciating the depth and variety of ‘the human condition’.

2025 has been another excellent year for Ashville with outstanding A Level results, the best Ashville has achieved for another successive year. 44% of A level students achieved an A or A; 72% achieved an A to B and 92% achieved A* to C. These results have enabled all of our Upper Sixth pupils to gain places at their chosen universities, with 92% being accepted by their first choice.

Pupils are going onto study a range of degrees including Medicine, Music, Economics, Biology, Architecture, Law, Computer Sciences, Sports Sciences, Languages, Filmmaking, Vocal Studies and Opera, Physics, Musical Theatre, Performing Arts, Interior Architecture and Design and History. Some of our international pupils also return to their home country to study at university, whilst others choose to study abroad. Aside from university study, other pupils are progressing onto apprenticeships and ‘on the job’ career training programmes, including one pupil who has taken up a flagship degree apprenticeship with Ernst & Young.

GCSE results were equally impressive with Year 11 pupils achieving record-breaking academic progress in their GCSE results. The Class of 2025 broke new ground in the overall performance across the year, securing results more than half a grade higher than their predicted score. 9% of all students achieved grade 9, 21% achieved a grade 8 or 9; 38% achieved a grade 7 to 9 and 58% achieved a grade 6 to 9.

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Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

  1. Ashville is committed to providing an holistic education : While we are unapologetically academically ambitious, we recognise that the world demands more than just good grades from its citizens of tomorrow. This is why co-curricular activities, and the House system are so important to us. We want all these opportunities to be enjoyable but appreciated as more than mere fun. They help to develop teamwork skills, leadership, communication, presentation, and the personal and social qualities of commitment and resilience, all of which are vital for professional success and personal fulfilment. Universities and employers do not want robots. They want independent-minded self-starters who are willing to question, to experiment, to take risks and learn from experience.

In addition to creative arts, performing arts and sports, we offer a variety of other clubs and societies for pupils to join at lunchtimes and after school as part of our varied Co-Curricular Programme, which offered over 140 different co-curricular clubs in 2025.

Each Wednesday the 6th form pupils have a ‘Games and Activities’ afternoon. Pupils use this time to develop skills outside the classroom, for example, assisting elsewhere in the school or volunteering in the local community. The skills they learn will hold pupils in good stead as they progress beyond Ashville.

A challenging education must also look beyond the classroom and at Ashville we are constantly looking for new ways to explore and expand our curriculum and provide an opportunity to put classroom learning into context. Ashville pride ourselves on the range of trips and visits offered to our pupils which include local, national and international locations. Our pupils look forward to trips and excursions throughout the year and ‘trip week’ in the summer term is an annual highlight. Trips this year included:

Each pupil in Lower Sixth will undertake a Future Ready course designed to support their skills development, and to enhance their university application and preparedness for the world of work. We have four courses on offer:

UK university (International English Language Teaching System).

Pupils at Ashville Sixth Form also receive bespoke guidance on the next steps to prepare for their future career. The Future Ready Co-ordinator and Sixth Form Tutors provide pupils with the vital information to support them with UCAS university applications, Student finance advice, work experience opportunities and applications for work or apprenticeship schemes

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Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

An additional guidance programme is in place for pupils who decide to make the most competitive university applications, including Oxford or Cambridge, and fields of study such as Medicine, Veterinary Science, Dentistry or Law. We help to ensure that these pupils are fully supported and prepared throughout the complex application process.

  1. Ashville recognises and takes account of the fact that young people are under greater pressure than has probably ever been the case: Although in many ways people in general are materially better off than at any time in history, we know that they are subject to greater psychological pressures than ever. For this reason, we take our wider responsibilities of nurture seriously. Our pastoral care as teachers, tutors, Heads of Year and Heads of School is excellent. We do all we can to provide proactive rather than reactive support. We work hard to recognise issues before they become problems. We have developed a relevant PHSE (Personal, Health, Social and Economic) programme and have a fully resourced Health and Wellbeing Centre which supports all our pupils, from 2-18, and their families.

The Health and Wellness Centre at Ashville College is a well-equipped department staffed by a team of registered nurses working Monday to Friday. Weekday opening hours are 8.00am – 5.30pm, and staff are also available for sports matches on Saturdays. The Nursing team provide assessment and treatment of Minor illness and injuries with further support from a visiting GP. They are an integral part of the College community, providing support to pupils, families and staff. The Medical Centre is available for pupils, and a holistic approach is taken to support the physical, social and mental wellbeing of all pupils. Additionally, the school nursing team work closely with the College pastoral team and outside agencies to ensure we offer the best care.

We pride ourselves on excellent pastoral care. Staff do everything possible to ensure that children settle quickly and happily. The diversity of our pupils is celebrated, and every pupil is given the chance to shine during their time here. Although all staff are involved in pastoral care, Class Teachers in Prep School and Form Tutors in Senior School and Sixth Form have daily contact and responsibility. In addition to teachers, pastoral care is also provided by the College Chaplain, as well as the ‘Green Ties’ in Lower School and Upper Sixth liaison prefects who take on the role to support and guide younger pupils throughout the College.

Ashville is committed to encouraging young people to develop the resilience to confront issues and to be able to cope and flourish. We promote good behaviour and community-minded values.

  1. Ashville is a happy and busy community: We want all our pupils to love school. We want them to be happy and to leave at 18 with wonderful memories and the benefits of Ashville education. We all promote, and believe in, the idea that learning is intrinsically valuable and enjoyable, and we use initiatives to create an ethos of positivity and encouragement. We are committed to producing good people who will gain much from, and contribute much to, all the communities of which they are part.

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Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is governed by its Trust Deed dating from 1903 and last amended in 2004.

Governing Body

Ashville College Trustee Ltd is the sole trustee of Ashville College. The Directors of Ashville College Trustee Ltd, as set out on page 3, are referred to as the ‘Governors’. The College is an associate member of the Methodist Independent Schools Trust (MIST); however, the Ashville College governing body is independent from MIST.

Appointment and Training of Governors

The Trust Deed allows for a maximum of 18 Governors:

On an annual basis, the make up of the Governing Body is considered by the Governance & Nominations Committee. Nominated and co-opted Directors are then appointed to the Board of Ashville College Trustee Limited on the basis of nominations and applications received from a wide range of sources. Eligibility, personal competence, specialist skills and availability are assessed by the Governance & Nominations Committee before being considered for election by the full Governing Body. New Governors are inducted into the workings of the Charity and its school, including policy and procedures, through visits to the school; meetings with the Head, Bursar and Chair of Governors; and the provision of handbooks and similar literature. All Governors receive information on, and are encouraged to take up, training opportunities. A register of Governor training is maintained.

Governance

Ashville College Trustee Limited, through its Board of Directors, is legally responsible for the overall management and control of the entire College and meets at least three times a year. The work of implementing most of its policies is spread across the following sub-committees:

All sub-committees are chaired by a Director, with membership embracing a combination of Governors and appropriate members of senior management. At every meeting Governors are asked to disclose any conflict of interest; every agenda also includes safeguarding as a standing item.

Review of Governance

The Board undertakes annual self-review, including a review of the Board’s skill mix and diversity. This self-review is undertaken by the Governance & Nominations Committee.

The Board has agreed to appoint an independent, external reviewer to evaluate the effectiveness of the Board on a five yearly basis. The first such review was undertaken by the Association of Governing Bodies of Independent Schools (‘AGBIS’) in Summer 2018, with the next evaluation scheduled for 2025-6.

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Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

Charity Governance Code

Good governance in charities is fundamental to their success. A charity is best placed to achieve its ambitions and aims if it has effective governance and the right leadership structures. For this reason, the Governors are committed to achieving the recommended practices described in the Charity Governance Code. The Code is deliberately aspirational and it is not envisaged that charities will fulfil all of the principles immediately.

Having considered the Code, the Governors believe that they have not fully applied the following principles that are set out in the Code:

Organisational Management

The day-to-day running of the schools is delegated to the Head and Bursar of Ashville College, who are supported by the Executive Leadership Team (ELT). The Head and/or the Bursar attend all Governor sub-committee meetings.

A Renumeration committee reporting to the Governing Body was introduced in Spring 2025. The terms of reference for Renumeration committee have been approved by the Board. Its scope is to oversee the salary and renumeration for the College as a whole and set salaries for the Head and Bursar.

Group Structure and Relationships

The Charity has a wholly owned, non-charitable subsidiary, Ashville Trading Limited. The main activities of Ashville Trading Limited are operating Ashville Sports Centre; and managing residential and non-residential lettings of the College’s facilities.

Ashville Foundation is a separate charity, whose purpose is to provide bursaries and other financial support to current and prospective pupils of Ashville who would not otherwise be able to attend the College. There is a close relationship between the College and the Foundation with a number of Governors also being Trustees of the Foundation.

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Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

PUBLIC BENEFIT

In setting our objectives and planning our activities, the Board has given careful consideration to Section 4 of the Charities Act 2011 and the Charity Commission’s guidance on public benefit and, in particular, to its supplementary public benefit guidance on advancing education and fee-charging.

The College audits and reports on its public benefit both in terms of activity and monetary value on an annual basis; this report is considered by the Governing Body on an annual basis.

Admissions

The Charity’s primary objective is the advancement of education for boys and girls in Harrogate; therefore, the main way that the Charity fulfils its public benefit is through admissions into the College. The Governors are cognisant of the fact that the financial cost of independent education is an impediment to some children attending Ashville, therefore the College strives to ensure that it remains accessible to as wide a range of families as possible; this is achieved through the provision of direct financial support by way of bursaries and a fair admissions process.

Community Access

Ashville College aims to be the heart of the community and works in various ways to open its doors to the public. Our partners include but are not limited to;

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Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

Charitable Giving & Activities

In line with the Charity’s Methodist ethos, all pupils across the College are encouraged to take part in charitable activities. During the year, the pupils raised money for a variety of charities, specifically: Henshaws Arts & Craft Centre, Knaresborough, Living Potential Farm, Wetherby and Edukid (Cambodia). In addition to these charities we raised money for Children in Need and Comic Relief through non-uniform days.

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Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The financial results for the year are set out in the accounts.

Net incoming resources for the year to 31st August 2025 show a surplus of £1,430,580 (31[st] August 2024: £434,545) of which £1,383,068 is unrestricted (31[st] August 2024: £185,930). The increase is largely due to the sale of two residential properties, resulting in a profit on disposal of £1,030,858 (31[st] August 2024: £nil). The trading surplus of £399,722 (31[st] August 2024: £434,545) is particularly pleasing given the uncertainties resulting from the 2024 Autumn Budget including the introduction of VAT on school fees from 1[st] January 2025 and the additional cost pressures including loss of business rate relief and increased employer National Insurance contributions from 1[st] April 2025.

Despite these increasing pressures, total resources expended fell by 4.8% due to strict cost control and the beneficial impact of the prior year decision to exit the boarding market.

Through Ashville Trading (wholly owned subsidiary), Ashville College makes available its sporting and other amenities for public use. Ashville Trading made a profit of £213,536 during the year ending 31[st] August 2025 and a donation under gift aid of £221,376 was made to the school (31st August 2024: £232,571).

The Balance Sheet remains robust, with total net assets of £18,548,941 (31[st] August 2024: £17,118,361) and a closing cash balance of £3,750,511 (31[st] August 2024: £2,362,027). Even with the economic uncertainty in the year, Ashville College was able to continue with its investment programme committing £680,395 of fixed asset expenditure including the refurbishment of the Sixth Form Centre, creation of the Year 7 Hub, Prep School Playground and an outdoor canopy and seating area.

Future Plans

Ashville is confidently investing in development for the future. Phase 1 and 2 of Campus Masterplan has now been completed including the creation of three new “learning hubs” and the complete refurbishment of the Sixth Form Centre. Development continues with plans for the next few phases as Ashville celebrates its 150[th] anniversary in 2027.

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Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

Risk Management

Ashville College Trustee Limited, via its Board, is responsible for the management of the strategic and operational risks faced by the College. The full Governing Body review the risk register at the December board meeting, and this risk register informs the strategic and operational plans for the year ahead and the next 3 to 5 years.

The major risks identified by the Governors were:

Having identified these as the major risks, the Governors and College management have put strategies in place to either eliminate these risks, or to minimise their potential impact.

Through the risk management processes established for the College, the Board is satisfied that the major risks identified have been adequately mitigated. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Governors regularly review the effectiveness of current plans and strategies for managing all identified major risks for both the College and its subsidiary.

Going Concern

Directors have reviewed income and cashflow forecasts, risks, and investment plans to August 2027, and are confident in the charity’s ability to continue as a going concern, and that this should be the basis on which financial statements are prepared. The College will be comfortably able to meet its commitments in terms of bank covenants for the foreseeable future, and has access to liquid cash and assets to finance growth and campus development plans.

FUNDRAISING REVIEW

As a registered charity the Charity is required to report on its fundraising activities in the financial year.

In the year to 31 August 2025, Ashville did not undertake any direct fundraising and has not engaged any professional fundraisers to work on its behalf.

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Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Annual Report of the Governing Body acting as trustee for the charity, Ashville College, for the year ended 31 August 2025 (continued)

STATEMENT OF GOVERNING BODY’S RESPONSIBILITIES

The Governing Body, as the trustee of the Charity, is responsible for preparing the Trustee’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the group and of the incoming resources and application of resources of the charity and the group for that period. In preparing these financial statements, the Governing Body is required to:

The Governing Body is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, applicable accounting regulations and the provisions of the trust deed.

They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Governing Body is responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

AUDITORS

Saffery LLP have expressed their willingness to remain in office as auditors of the Charity.

This Directors report was approved by the Governing Body on 12 January 2026 and signed on their behalf by:

G STYLES

Chair, Ashville College Trustee Limited

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Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Independent auditor’s report to the Governing Body (as trustee) of Ashville College

Opinion

We have audited the financial statements of Ashville College (the ‘parent charity’) and its subsidiary (the ‘group’) for the year ended 31 August 2025 which comprise consolidated statement of financial activity, the consolidated balance sheet, the consolidated cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

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Independent auditor’s report to the Governing Body (as trustee) of Ashville College (continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 13 , the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial 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 about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charity by discussions with trustees and updating our understanding of the sector in which the group and parent charity operate.

Laws and regulations of direct significance in the context of the group and parent charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales. Further the charity is subject to other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, through significant fine, litigation or restrictions on the charity’s operations. We identified the most significant laws and regulations to be the Independent School Standards as found in the Education and Skills Act 2008 and guidance issued by the Department for Education.

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Independent auditor’s report to the Governing Body (as trustee) of Ashville College (continued)

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement 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, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the parent charity trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charity and the parent charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Saffery LLP 10 Wellington Place Leeds LS1 4AP

Statutory Auditors

Date: 15 January 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Ashville College Consolidated statement of financial activities

for the year ended 31 August 2025

for the year ended 31 August 2025
Unrestricted Restricted 2025 2024
Notes funds funds
Incoming resources £ £
£		 £
Income from charitable activities
Fees receivable 2 14,314,781 - 14,314,781 15,124,821
Less: Scholarships and bursaries
2
(907,151)
(8,855)
(916,006)
(1,044,803)





Net fees receivable
13,407,630
(8,855)
13,398,775
14,080,018
Incoming resources from generated
funds
Trading income 4 733,036 - 733,036 692,657
Bank and other interest 35,581 - 35,581 4,859
Sundry income 3 252,066 - 252,066 62,937
Donations / Grants 5 - 73,243 73,243 366,969
Profit on disposal of tangible assets
1,030,858
-
1,030,858
-





Total incoming resources
15,459,170
64,388
15,523,558
15,207,439





Resources expended
Costs of generating funds
Trading expenditure 7 (468,731) - (468,731) (409,525)
Depreciation
7
(769)
-
(769)
(769)






(469,500)
-
(469,500)
(410,295)





Charitable activities

Teaching costs (6,886,420) (16,876) (6,903,296) (7,134,341)
Welfare (2,028,087) - (2,028,087) (2,441,884)
Premises (1,460,141) - (1,460,141) (1,621,826)
Support costs (2,420,132) - (2,420,132) (2,319,733)
Depreciation (733,665) - (733,665) (767,388)
Finance and other costs (57,788) - (57,788) (57,825)
Governance costs (20,368) - (20,368) (25,343)
Grants - - - (20,000)
Profit/ (Loss) on disposal of
tangible assets
-
-
-
25,740





Total resources expended
6/7
(14,076,102)
(16,876)
(14,092,978) (14,772,894)





Net incoming resources
1,383,068
47,512
1,430,580
434,545










Net movement in funds
1,383,068
47,512
1,430,580
434,545
Transfer between reserves 25 65,118 (65,118) - -
Balances as at 1 September 2024
17,093,910
24,451
17,118,360
16,683,815





Balances carried forward at 31
August 2025
18,542,096
6,845
18,548,941
17,118,360

The notes on pages 20 to 38 form part of these financial statements. The charity has no recognised gains or losses other than the net movement in funds for the year. All activities relate to continuing operations.

17

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Ashville College Balance Sheets

as at 31 August 2025

as at 31 August 2025
Notes Consolidated
College
2025 2024
 2025 2024
£
£		 £ £
Fixed assets
Intangible 9 - - - -
Tangible 10 19,725,177 20,122,599 19,723,639 20,120,290
Investments
11 - -
10,000
10,000





19,725,177
20,122,599
19,733,639
20,130,290




Current assets

Stocks 12,766 5,343 12,459 5,036
Debtors 12 403,473 392,089 275,065 332,860
Cash at bank and in hand
3,750,511
2,362,027
3,550,039
2,107,744





4,166,750
2,759,459
3,837,564
2,445,640




Creditors amounts falling due within one
year
Payments received on account 15 (2,462,390) (2,721,371) (2,459,390) (2,721,371)
Trade creditors (417,193) (148,842) (414,897) (147,585)
Other creditors 13 (1,568,655) (1,248,143) (1,506,945) (1,204,833)
Bank loan
14
(288,662)
(280,943)
(288,662)
(280,943)





(4,736,899)
(4,399,300)
(4,669,893)
(4,354,732)




Net current liabilities
(570,149)
(1,639,841)
(832,330)
(1,909,092)

Creditors amounts falling due after one
year
Advance fee payments 15 (319,315) (556,319) (319,315) (556,319)
Other creditors (92,528) (333,571) (92,528) (333,570)
Bank loan
14
(194,242)
(474,507)
(194,242)
(474,507)




Total net assets
18,548,941
17,118,361
18,295,222
16,856,802




Funds

Unrestricted funds_un-designated_ 16/18 (18,532,829) (17,084,642) (18,279,108) (16,823,082)
Unrestricted funds_designated_ 17 (9,269) (9,269) (9,269) (9,269)
Restricted funds
17
(6,845)
(24,451)
(6,845)
(24,451)




Total funds
(18,548,941)
(17,118,361)
(18,295,222)
(16,856,802)

Approved by the Governing Body on 12 January 2026 and signed on their behalf by:

G Styles Director, Ashville College Trustee Limited

18

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Ashville College Consolidated cash flow statement

for the year ended 31 August 2025

Note
Net cash inflow from operating activities
19
Return on investments and servicing of finance
Interest received
Interest payable
Capital expenditure and financial investment
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed assets
Financing
Repayment of capital element of bank loan
Repayment of finance leases
Capital financing
Fee in Advance Scheme
New fees in advance money due within one year
New fees in advance money due in more than one
year
Increase/(decrease) in cash during the period
Cash balance brought forward
Movement
Cash balance carried forward		 2025
£
£
995,882
35,581
(29,373)
6,207
(680,395)
1,374,241
693,846
(272,544)
(113,117)
-
(385,661)
35,278
42,931
78,209
1,388,484
2,362,027
1,388,483
3,750,511		 2024
£
£
1,474,900
4,859
(40,913)
(36,054)
(759,170)
43,780
(715,390)
(261,461)
(176,459)
-
(437,920)
218,565
556,319
774,884
1,060,419
1,301,608
1,060,419
2,362,027		 2024
£
£
1,474,900
4,859
(40,913)
(36,054)
(759,170)
43,780
(715,390)
(261,461)
(176,459)
-
(437,920)
218,565
556,319
774,884
1,060,419
1,301,608
1,060,419
2,362,027
(680,395)
1,374,241		 (759,170)
43,780
(272,544)
(113,117)
-		 (261,461)
(176,459)
-
35,278
42,931		 218,565
556,319
1,301,608
1,060,419
2,362,027

19

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Ashville College Notes for the year ended 31 August 2025

(forming part of the financial statements)

1 Accounting policies

The financial statements are prepared in accordance with the Charities Act 2011 and with the Charities Statement of Recommended Practice (“SORP (FRS102)”) and Financial Reporting Standard 102.

Basis of accounting

The financial statements are prepared under the historical cost convention as modified by the revaluation of investments at market value.

Preparation of financial statements – going concern basis

See Going Concern statement above (page 12).

In prior years the principal uncertainty facing the College was how pupil numbers would be impacted by the introduction on VAT on fees and removal of the charitable status on the College. However, Ashville has bucked the trend and pupil numbers are increasing year on year with Summer 2025 finishing on 754 pupils (excluding Acorns and with 27 boarders) and 762 (excluding Acorns and 5 boarders) started the Autumn 2025 term. This represents a 4% growth of day pupils.

The forecast cost base is forecasted to increase by 3.5% year on year; which includes a Cost of Living increase awarded to all staff in College and the removal of charitable status resulting in a doubling of the business rates costs. Cost reductions have come from a continued focus on tight cost control, alongside instilling a culture and mindset of continuous improvement in all areas of the college. This provides reassurance to the Governors that the College will maintain current surplus levels.

The charity’s financial position and performance has been outlined in the financial review above. The Governors have assessed projected future income, expenditure and cash flows over the period to August 2027, and analysed the strength of the charity’s reserves and liquid assets and its ability to withstand a material fall in incoming resources. Consideration has been given to projected pupil numbers, pupil: teacher ratios and all known and projected costs in making this assessment.

The financial performance and cashflow of the College is reviewed every half term by the Finance and General Purpose Committee. This level of scrutiny and the prudence built into the forecasts minimises the risks relating to the cash flow forecasts.

In the light of all available evidence, the Governors have concluded that there is a reasonable expectation that Ashville College and its subsidiary have adequate resources to continue their activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Fund accounting

Restricted funds represent grants, donations and legacies which are allocated by the donor for specific purposes.

Designated funds comprise unrestricted funds which have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

General undesignated funds represent unrestricted income which is expendable at the discretion of the Governors in furtherance of the objects of the Charity.

Basis of consolidation

The accounts have been consolidated to include the College’s trading subsidiary, Ashville Trading Ltd. Income and expenditure from the trading subsidiary are consolidated into the financial statements on a line by line basis. No separate SOFA has been presented for the Charity alone, as permitted by Section 408 of the Companies Act 2006. All financial statements are made up to 31 August 2025.

20

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes (continued)

1 Accounting policies (continued)

Incoming resources

All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable. The following accounting policies are applied to income.

Expenditure

All costs are allocated directly according to their function within the charity as follows:

Cash and liquid resources

Cash, for the purposes of the cash flow statement, comprises cash in hand and deposits payable on demand, less overdrafts payable on demand.

Stock

Stock is valued at the lower of cost less provision for obsolescence and net realisable value.

Fixed assets and depreciation

Depreciation is provided to write off the cost or revalued amount less the estimated residual value of tangible fixed assets by instalments over the estimated useful economic life as follows:

Plant and fixtures - 10 - 20% per annum Vehicles - 20% per annum Computer equipment - 10-20% per annum Land - Nil Buildings - 2% per annum

Freehold land and buildings were revalued at open market value for existing use at 31 August 1993 and have not been updated since. The charity has frozen the valuation of these assets as the equivalent cost.

Investments

All investments are valued at market value at the balance sheet date, except the investment in the subsidiary company which is disclosed at cost. Any changes in value in the year are reported in the Statement of Financial Activities, and historical costs are disclosed separately by way of a note.

21

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes (continued)

1 Accounting policies (continued)

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Leases

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account in proportion to the remaining balance outstanding.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial Instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Advanced fee payment (composition) scheme - The composition fees received represent a basic financial instrument and have been accounted for within creditors at cost.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised 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 benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to income are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

Pensions and other post-retirement benefits

The charity contributes to group personal pension schemes for staff. The assets of the schemes are held separately from those of the college in independently administered funds. The amount charged in the yearly financial statements represents the contributions payable to the scheme in respect of the accounting period.

22

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes (continued)

1 Accounting policies ( continued)

Taxation

As the College is a registered charity no provision is required for Corporation Taxation on the College’s charitable activities. The College’s subsidiary, Ashville Trading Ltd, is liable to corporation tax. Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

2. Fees receivable

ees receivable
2025 2024
£ £

Tuition fees		 12,693,937 13,096,719
Boarding fees 563,716
 1,040,386
13,257,653 14,137,105
Music tuition 202,684 215,070
Day pupils meals 766,559 732,847
Learning support 71,991 17,995
Other fees and charges 15,895
 21,804
Less: Scholarships and bursaries * 14,314,781 15,124,821
(916,006) (1,044,803)
13,398,775 14,080,018

3. Sundry income


Rent receivable
Tuckshop trading profit
Other income		 2025
£
12,800
49,284
189,982
252,066		 2024
£
19,200
18,329
25,408
62,937

23

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

4. Trading income

The college owns 100% of the issued share capital of Ashville Trading Limited (company registration number 0261749) which provides sports centre facilities and lettings during holiday periods. The trading results extracted from its audited financial statements were:

2025 2024
£
£
Turnover
733,036		 692,198
Cost of sales (424,716) (381,101)
Other Income
 -
 459
Gross profit 308,320 311,556
Administrative expenses
 (94,784)
 (91,194)
Operating profit 213,536 220,362
Interest payable & similar charges -
 -
Net profit before taxation 213,536 220,362
Taxation charge
 -
 -
Retained profit for the financial year
213,536
 220,362
Capital and reserves at year end
263,719
 271,559
The aggregate of the assets, liabilities and funds was:
2025
2024
£
£
Assets 372,902 395,831
Liabilities (109,182) (124,271)
Funds 263,719 271,559

A gift aid payment of £221,376 (2024: £232,571) was made to Ashville College during the year.

5. Donations

Unrestricted
Restricted
£
£
Donations

Other
-
73,148
Prize Fund
-
95



-
73,243


 Total
2025
£

73,148
95



73,243

 Total
2024
£
366,969
-
366,969

24

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

6. Expenditure
2025 2024
£ £
Charitable expenditure includes:
Indemnity insurance for Governors 4,037 4,239
Operating lease expense in year 59,881 79,329
Governance costs includes:
Auditor’s remuneration
Fees payable to the charity’s auditor for the audit of
the charity’s financial statements		 20,000 20,000
Staff costs of the college
Wages and salaries 7,414,787 7,749,368
Social security costs 774,715 716,296
Apprentice levy 21,623 22,366
Pension contribution 924,272 947,405
9,135,397 9,435,435
Key Management Personnel:
2025 2024
£ £
Aggregate salaries of key management personnel (inc. pension 667,749 818,034
contributions)

25

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

6. Expenditure (continued)

The number of employees whose emoluments exceeded £60k was:

Number Pension contributions
2025 2024 2025 2024
£ £
£60,001 - £70,000 6 6 91,280 108,018
£70,001 - £80,000 1 1 21,780 19,990
£80,001 - £90,000 1 1 19,914 4,500
£90,001 - £100,000 1 - 4,590 -
£100,001 - £110,000 - - - -
£110,001 - £120,000 - - - -
£120,001 - £130,000 - - - -
£130,001 - £140,000 - - - -
£140,001 - £150,000 - 1 - 41,989
£150,001 - £160,000 1 - 42,828 -

Pension contributions are paid into a defined contribution occupational pension scheme.

Neither the Governors nor persons connected with them received any remuneration or other benefits from the College or any connected organisation, in the current or prior year, other than reimbursement of out of pocket expenses, which totalled £12 in the year (2024: £nil).

Included in wages and salaries above are redundancy payments of £65,686 (2024: £132,648).

The average number of employees during the year was:

Teaching
Welfare
Premises
Support
Trading
 Headcount
2025
2024
167
173
26
28
11
11
40
47
45
42

289
301
 Headcount
2025
2024
167
173
26
28
11
11
40
47
45
42

289
301
301

26

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

7. Analysis of total resources expended


Staff costs

£
Costs of generating funds
Trading expenditure
343,124
343,124
Costs of activities in furtherance of the
charity’s objects
Teaching costs
6,507,696
Welfare
819,990
Premises
412,152
Support costs
1,395,559
Depreciation
-

9,135,397

Governance costs
-
Finance and other costs
-
Donation
-
Grants
-
(Profit)/ Loss on disposal of tangible assets
-

-

Total resources expended
9,478,521
Depreciation

Other and amortisation
Total
Total
2025
2024
£
£
£
£

125,607
769
469,500
410,295

125,607
769
469,500
410,295
395,600
-
6,903,296
7,134,341
1,208,098
-
2,028,088
2,441,884
1,047,989
-
1,460,141
1,621,826
1,024,573
-
2,420,132
2,319,733
-
733,665
733,665
767,388



3,676,260
733,665
13,545,322
14,285,171

20,368
-
20,368
25,343
57,788
-
57,788
57,825
-
-
-
-
-
-
-
20,000
-
-
-
(25,740)



78,156
-
78,156
77,428



3,880,022
734,435
14,092,978
14,772,894		 Total
2024
£
410,295
410,295

Other support costs include expenses relating to marketing activity, recruitment, general administration costs and professional fees.

Prior Year Comparative:

Prior Year Comparative:

Depreciation
Staff costs Other and amortisation Total Total
2024 2023
£ £ £ £ £
Costs of generating funds
Trading expenditure 313,316
96,210
769
410,295
399,688




313,316
96,210
769
410,295
399,688
Costs of activities in furtherance of the
charity’s objects
Teaching costs 6,710,761 423,580 - 7,134,341 6,825,799
Welfare 962,466 1,479,418 - 2,441,884 2,090,285
Premises 379,140 1,242,687 - 1,621,826 1,323,371
Support costs 1,383,068 936,664 - 2,319,733 2,197,551
Depreciation -
-
767,388
767,388
689,444




9,435,435
4,082,349
767,388
14,285,171
13,126,450
Governance costs
-		 25,343 -
25,343		 16,900
Finance and other costs - 57,825 - 57,825 90,330
Profit/Loss on disposal of tangible assets
-
(25,740)
-
(25,740)
61,952




-
77,428
-
77,428
169,182




Total resources expended
9,748,750
4,255,986
768,157
14,772,894
13,683,320

27

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

8. Corporation Taxation

The corporation taxation charge and year-end liability relates to the non-charitable trading activities of the trading subsidiary, Ashville Trading Ltd.

Current tax
UK corporation tax
Adjustments in respect of prior years
UK corporation tax		 2025
£
-
-

-
2024
£
-
-

-

The rate of current tax for the year, based on UK standard rate of corporation tax for small companies is 25% (2024: 25%). The actual tax charge for the current year and the previous year differs from the standard rate for the reasons set out in the following reconciliation.

Profit on ordinary activities chargeable to corporation tax
Expected tax charge at 19% (2022: 19%)
Factors affecting the charge for the year:
Depreciation in excess of Capital Allowances
Short term timing differences
Losses carried forward
Movement in pension provision
Corporation Tax payable pre-gift aid donation
Tax effect of Gift aid Distribution to be made
Corporation Tax payable post-gift aid donation		 2025
£
213,536

53,384
192
-
-
74

53,650

(53,650)
-		 2024
£
220,362

55,091
192
-
-
61

55,344

(55,344)

9. Intangible Fixed Assets

All intangible fixed assets are held in the trading subsidiary:

Teaching Resources
£
Cost
At beginning of the year 7,000
Additions -
At end of the year
7,000

Amortisation
At beginning of the year 7,000
Charge for the year
-

At end of the year
7,000

Net book value
At 31 August 2025
-

At 31 August 2024
-

28

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

10. Tangible fixed assets

CONSOLIDATED



Cost or valuation
At beginning of year
Additions
Disposals
Transfer to other category

At end of year

Depreciation
At beginning of year
Charge for year
Disposals
Transfer to other category

At end of year

Net book value
At 31 August 2025
At 31 August 2024		 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,681,636
2,213,972
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-
 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,681,636
2,213,972
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-
 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,681,636
2,213,972
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-
 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,681,636
2,213,972
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-
 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,681,636
2,213,972
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-
 Motor
Total
vehicles
£
£
167,492
33,125,835
-
680,395
-
(500,564)
-
-
70,178
26,687,246
2,684,013
2,712,178
 984,559 167,492
33,305,666


-
7,931,335
2,375,448
1,985,758

-
437,645
151,098
59,338
-
(110,466)
-
(46,718)
-
-
-
-




-
8,258,515
2,526,546
1,998,376







70,178
18,428,731
157,466
713,800
 638,189
63,079
-
-

701,268


283,291		 72,506
13,003,236
23,274
734,435
-
(157,184)
-
-
95,780
13,580,487
71,712
19,725,179
47,872
19,203,499		 306,185 228,215
 241,841 94,986
20,122,599

Assets under construction include initial scoping for development of the Greenholme boarding house, campus master plan work and website development.

All tangible fixed assets are used for direct charitable purposes with the exception of the assets within the trading subsidiary. These are analysed as follows:

Net book value at 31 August 2025

Asset under
Freehold
Computer
Fixtures
Plant
course of
land and
Equipment
and
And
construction
buildings

fittings
Machinery
£
£
£ £
£
Direct
Charitable
purposes



College
70,178
18,428,731
157,466
712,261
283,291
Other



Trading
-
-
-
1,538
-





70,178
18,428,731
157,466
713,800
283,291




 Motor
Total
vehicles


£
£

71,712
19,723,640

-
1,538


71,712
19,725,179

All freehold land is included within Ashville College. No depreciation has been provided on freehold land, which has been included at a valuation of £4,214,605 (2024: £4,367,144).

29

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

10 Tangible fixed Assets (continued)

COLLEGE
Cost or valuation
At beginning of year
Additions
Disposals
Transfer to other
category
At end of year
Depreciation
At beginning of year
Charge for year
Disposals
Transfer to other
category
At end of year
Net book value
At 31 August 2025
At 31 August 2024		 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and
Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,679,832
2,192,123
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-



 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and
Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,679,832
2,192,123
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-



 Asset under
Freehold
Computer
Fixtures
Plant

course of
land and
Equipment
And
And
construction
buildings

Fittings
Machinery

£
£
£
£



47,872
27,134,835
2,679,832
2,192,123
880,028
22,306
2,093
37,755
513,709
104,531
-
(449,683)
-
(50,882)
-
-
-
(35,379)
35,379
-



 Motor
Total
vehicles
£
£
167,492
33,102,182
-
680,395
-
(500,564)
-
-
70,178
26,687,246
2,682,208
2,690,329		 984,559 167,492
33,282,012




-
7,931,335
2,373,644
1,966,217
-
437,645
151,098
58,568
-
(110,466)
-
(46,718)
-
-
-
-




-
8,258,515
2,524,742
1,978,068

638,189
63,079
-
-

701,268		 72,506
12,981,888
23,274
733,666
-
(157,184)
-
-
95,780
13,558,369


70,178
18,428,731
157,466
712,261
283,291		 71,712
19,723,640
47,872
19,203,498
306,185
225,907		 241,841 94,986
20,120,290

The historical cost of revalued freehold land and buildings within College is:

2025 2024
£
Historical cost 2,077,929 2,077,929
Accumulated depreciation (961,027) (919,469)
Historical cost net book value 1,116,902 1,158,460

The net carrying amount of assets held under finance leases at year end is £141,054 (2024: £353,963)

11. Investments

Consolidated

Total

£

Market value at 1 September 2024
-


Market value at 31 August 2025
-


Analysed as
Investment in subsidiary
-


Total
-

College
Total
£
10,000
10,000
10,000
10,000

30

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

12. Debtors



Fee and trade debtors
Amounts owed by subsidiary undertaking
Other debtors
Prepayments

13.
Creditors: amounts falling due within one year
Other creditors due within 1 year comprise:
Taxation and social security
Other creditors
Leases (note 20)
Accruals		 Consolidated
2025
2024
£
£
181,201
155,288
-
-
125,006
151,729
97,266
85,071

403,473
392,089
Consolidated
2025
2024
£
£
676,166
215,841
527,190
423,114
108,300
103,746
257,000
505,442

1,568,655
1,248,143		 College
2025
£

16,157
42,177
119,465
97,266

275,065
College
2025
£

643,628
512,307
108,300
242,711

1,506,945		 2024
£
16,453
79,704
151,631
85,071
332,860

2024
£
192,343
411,718
103,746
497,026
1,204,833

14. Bank loans

As noted in previous accounts, the College is nearing the end of two ten-year loans from Lloyds and will complete repayment in February and October 2027. The charge has moved this year to a different residential property belonging to the College, following the asset sales in year.

The following bank loan security is in place:

interest and other costs.
2025 2024

£		 £
Repayable
Within one year 288,662 280,943
Between one and two years 192,823 289,271
Between two and five years 1,419 185,236
In more than five years - -

_		 _

482,904		 755,450

31

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

15. Payments received in advance

ayments received in advance
Consolidated College
2025 2024 2025 2024
£ £ £ £
Advance fees
After 5 years
1,802		 21,410
1,802		 21,410
Within 2 to 5 years 205,221 292,274 205,221 292,274
Within 1 to 2 years 112,292
242,634
112,292
242,634



319,315
556,319
319,315
556,319
Within 1 year
Advance fees 232,406 234,842 232,406 234,842
Payments on account 2,006,413 2,270,763 2,006,413 2,270,763
Deposits 223,571
215,766
220,571
215,766



2,462,390
2,721,371
2,459,390
2,721,371



2,781,705
3,277,690
2,778,705
3,277,690

College payments received in advance includes fee deposits, payments on account in respect of the following term’s fees and advance fees where parents enter into a contract to pay to the school several years’ fees in advance. The money relating to advance fees may be returned subject to specific conditions on the receipt of one term’s notice. The above assumes these pupils will remain in the school.

The College payments received in advance balance represents the accrued liability under the contracts. The movements during the year were:

£
Balance at 1 September 2024 3,277,690
Fees in advance for 2025/26 2,238,819
Fees in advance for after 2025/26 317,514
Movement on deposits 4,805
Amounts utilised in payment of fees
(3,060,122)


Balance at 31 August 2025
2,778,706

16. Undesignated funds

Revaluation Retained
Consolidated reserve surpluses Total
account

£		 £ £

Balance at 1 September 2024
5,052,257
12,032,384		 17,084,641
Surplus from statement of financial activities - 1,383,086 1,383,068
Transferred from restricted reserves - 65,118 65,118
Transfer between funds
-
-
-



Balance at 31 August 2025
5,052,257
13,480,570
18,532,828

32

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

16. Undesignated funds (continued)

Revaluation Retained
College reserve surpluses Total
account
£ £ £

Balance at 1 September 2024		 5,052,257
11,770,826
16,823,083
Surplus from statement of financial activities - 1,390,908 1,390,908
Transferred from restricted reserves - 65,118 65,118
Transfer between funds
-
-
-



Balance at 31 August 2025
5,052,257,
13,226,852
18,279,108

17. Other funds

Balance Net Outgoing Transfer to/ from Balance
Consolidated 31-Aug-24 incoming Resources other reserve 31-Aug-25
resources
£ £ £ £ £
Restricted income funds
Prize Fund 5,000 - - - 5,000
Annual Fund 16,796 - (16,796) - -
Foundation - 8,855 (8,855) - -
Other
2,655
64,388
(80)
(65,118)
1,845





24,451
73,243
(25,731)
(65,118)
6,845




Unrestricted income funds


Designated funds

Homerton fund
9,269
-
-
-
9,269




Designated funds
9,269
-
-
-
9,269




Undesignated funds
17,084,641
1,383,068
-
65,118
18,526,031




Total funds
17,118,360
1,456,311
(25,731)
-
18,548,941

33

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

17. Other funds (continued)

College Balance
31-Aug-24		 Net
incoming		 Outgoing
Resources		 Transfer to/
from
other reserve		 Balance
31-Aug-25
resources

£		 £ £ £ £
Restricted income funds
Prize Fund 5,000 - - - 5,000
Annual Fund 16,796 - (16,796) - -
Foundation - 8,855 (8,855) - -
Other
2,655
64,388
(80)
(65,118)
1,845





24,451
73,243
(25,731)
(65,118)
6,845




Unrestricted income funds

Designated funds

Homerton fund
9,269
-
-
-
9,269




Designated funds
9,269
-
-
-
9,269




Undesignated funds
16,823,082
1,390,908
-
65,118
18,279,108




Total funds
16,856,802
1,454,151
(15,731)
-
18,295,222

The purposes of these funds are:

34

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

18. Analysis of net assets between funds

Consolidated

Consolidated
Unrestricted Unrestricted Restricted Total

funds		 funds funds funds
un-designated designated

£		 £ £ £
Funds balances at 31 August 2025 are represented by
Tangible fixed assets 19,725,177 - - 19,725,177
Intangible fixed assets - - - -
Current assets 4,150,636 9,269 6,845 4,166,750
Liabilities
(5,342,985) -
-
(5,342,985)


Total net assets
18,532,829
9,269
6,845
18,548,941



College
Unrestricted Unrestricted Restricted Total

funds		 funds funds Funds
un-designated designated

£		 £ £ £
Funds balances at 31 August 2024 are represented by
Tangible fixed assets 19,723,638 - - 19,723,638
Investments 10,000 - - 10,000
Current assets 3,821,450 9,269 6,845 3,837,564
Liabilities
(5,275,980)
-
-
(5,275,980)


Total net assets
18,279,108
9,269
6,845
18,295,222




Prior Year Comparative:

Consolidated
Unrestricted Unrestricted Restricted Total

funds		 funds funds funds
un-designated designated

£		 £ £ £
Funds balances at 31 August 2024 are represented by
Tangible fixed assets 20,122,599 - - 20,122,599
Intangible fixed assets - - - -
Current assets 2,725,739 9,269 24,451 2,759,459
Liabilities
(5,763,696)
-
-
(5,763,696)


Total net assets
17,084,642
9,269
24,451
17,118,361



College
Unrestricted Unrestricted Restricted Total

funds		 funds funds Funds
un-designated designated

£		 £ £ £
Funds balances at 31 August 2024 are represented by
Tangible fixed assets 20,120,290 - - 20,120,290
Investments 10,000 - - 10,000
Current assets 2,411,920 9,269 24,451 2,445,640
Liabilities
(5,719,128)
-
-
(5,719,128)


Total net assets
16,823,082
9,269
24,451
16,856,802

35

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

19. Reconciliation of revenue surplus to net cash inflow from operating activities

2025 2024
£ £
Net incoming resources for the year
1,430,580
434,545
Interest received (35,581) (4,859)
Interest paid 29,373 40,913
Depreciation of tangible fixed assets 734,435 768,157
(Profit) / Loss on disposal of fixed assets (1,030,858) (25,740)
(Increase) / Decrease in stock (7,423) 8,167
(Increase) / Decrease in debtors (11,384) (43,017)
Increase /(Decrease) in creditors
(113,260)
296,733

Net cash inflow from operating activities
995,882
1,474,900

20. Lease commitments

At the year end, the Charity had outstanding commitments for future minimum lease payments under noncancellable operating leases and finance leases which fall due as follows:

Operating Leases
Within one year
Between one and five years
After five years
Finance Leases
Within one year
Between one and five years
After five years

21.
Financial Instruments
Carrying amount of financial assets measured at amortised cost
Carrying amount of financial liabilities measured at amortised cost		 2025
£
37,128
74,480
7,540
_
119,149

2025
£
108,300
66,825
-
_
175,125

2025
£
181,201

1,157,097
 2024
£
67,639
48,311
-
_
115,950

2024
£
124,516
184,497
-
_
309,013

2024
£
155,288

1,409,734

36

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

22. Pensions

Teaching staff are enrolled in a MIST group defined contribution scheme administered by Legal and General insurers. Support staff pensions are provided by Scottish Widows. There have been no changes to the arrangements during the year.

23. Consolidated statement of financial activities for the year ended 31 August 2024

Unrestricted Restricted 2024 2023
Notes funds funds
Incoming resources £ £
£		 £
Income from charitable activities
Fees receivable 2 15,124,821 - 15,124,821 14,117,387
Less: Scholarships and bursaries
2
(929,089)
(115,714)
(1,044,803)
(1,120,110)




Net fees receivable
14,195,732
(115,714)
14,080,018
12,997,277
Incoming resources from generated
funds
Trading income 4 692,657 - 692,657 670,512
Bank and other interest 4,859 - 4,859 58
Sundry income 3 62,937 - 62,937 45,742
Donations / Grants
5
50
366,919
366,969
103,937




Total incoming resources
14,956,234
251,205
15,207,439
13,817,526




Resources expended
Costs of generating funds
Trading expenditure 7 (409,525) - (409,525) (398,919)
Depreciation
7
(769)
-
(769)
(769)





(410,295)
-
(410,295)
(399,688)




Charitable activities

Teaching costs (7,131,752) (2,589) (7,134,341) (6,825,799)
Welfare (2,441,884) - (2,441,848) (2,090,285)
Premises (1,621,826) - (1,621,826) (1,323,371)
Support costs (2,319,733) - (2,319,733) (2,197,551)
Depreciation (767,388) - (767,388) (689,444)
Finance and other costs (57,825) - (57,825) (90,330)
Governance costs (25,343) - (25,343) (16,900)
(Loss)/Profit on disposal of tangible a
25,740
-
25,740
(61,952)



Total resources expended
6/7
(14,770,305)
(2,589)
(14,772,894)
(13,695,320)




Net incoming resources
185,930
248,616
434,545
122,206




Net movement in funds
185,930
248,616
434,545
122,206
Transfer between reserves 250,000 (250,000) - -
Balances as at 1 September 2023
16,657,980
25,835
16,683,815
16,561,609



Balances carried forward at 31
August 2024
17,093,910
24,451
17,118,360
16.683.815

37

Docusign Envelope ID: 486C0935-682B-48D5-9EFE-CDF5F0058148

Notes ( continued )

24. Related party transactions

At the end of the year the College was owed £42,177 (2024: £79,704) from Ashville Trading Ltd

In the year the College spent £1,296 with William G Search (2024: £1,014), a company of which one of the Governors is a director.

Governors’ expenses in the year were £12 (2024: £nil).

The College received £8,855 (2024: £115,714) from The Ashville Foundation; this was used to fund bursaries for current pupils in the Autumn term.

The balance at the year-end with Ashville Foundation was £89,417 (2024: £77,137), included in other debtors.

25. Transfers between reserves

Transfers between reserves comprise of a £64,218 receipt of gift aid relating the 2024 restricted donation, which was utilised in campus development. A donation of £900 was received by the music department and spent on a sousaphone.

26. Registered Address

The registered address of the Charity and Ashville College Trustee Limited is Ashville College, Green Lane, Harrogate, North Yorkshire, HG2 9JP. Ashville College Trustee Limited is registered in England and Wales with the company number 4552232.

38