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REGISTERED NUMBER: 02736405 (England and Wales)















DIRECTORS' REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Directors' Report 2

Statement of Directors' Responsibilities 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 7

Balance Sheet 8

Notes to the Financial Statements 9


THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: A E Foster
E Hartley
T P Mcgee
N Burnham
J Clarke
J Trump
G Burbridge
M Curran
E Young
P Cooper
T Fisher
L Anderson
N Sheta
J Pattison
C Challenger
H Bembridge



SECRETARY: Blakelaw Secretaries Limited



REGISTERED OFFICE: The Argyll Club
16 Old Queen Street
London
SW1H 9HP



REGISTERED NUMBER: 02736405 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Graham Lyon FCCA



AUDITORS: CG LEE Limited
Chartered Certified Accountants
Statutory Auditors
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

A E Foster
E Hartley
T P Mcgee
N Burnham
J Clarke
J Trump
G Burbridge
M Curran
E Young
P Cooper
T Fisher
L Anderson
N Sheta
J Pattison

Other changes in directors holding office are as follows:

C Challenger - appointed 12 October 2023
H Bembridge - appointed 21 March 2024

COUNCIL MEMBERS
Per the Articles of Association, the company refers to the board of directors as "the Council" and therefore directors are considered to be "council members".

The Council appoints a Chair and Vice Chair to run the Council meetings. The council members filling these positions at the year end were:

Chair of Council:
E Young

Vice Chair of Council:
A E Foster

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, CG LEE Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





E Young - Director


18 October 2024

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2024

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In the case of each director in office at the date the Directors' Report is approved:

- so far as each director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- each directors has taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED

Opinion
We have audited the financial statements of The Sixth Form Colleges' Association Limited (the 'company') for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31 July 2024 and of its surplus for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 directors' 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 company'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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Directors' Report and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors 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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Directors' Report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors 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 directors determine 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 directors are responsible for assessing the company'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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and tax legislation, and we considered the extent to which non­ compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

- discussions with management including consideration of known or suspected instances of non-compliance with
laws and regulation;
- evaluating management's controls designed to prevent and detect irregularities;
- identifying and testing of journal entries for appropriateness and evaluating the business rationale of significant
transactions outside the normal course of business; and
- reviewing significant accounting estimates for management bias.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. 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 for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Graham Lyon FCCA (Senior Statutory Auditor)
for and on behalf of CG LEE Limited
Chartered Certified Accountants
Statutory Auditors
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

8 November 2024

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £    £    £   

TURNOVER 1,564,367 1,424,064

Administrative expenses 1,340,366 1,237,569
OPERATING SURPLUS 5 224,001 186,495

Income from fixed asset investments 18,240 -
Interest receivable and similar income 44,276 14,650
62,516 14,650
SURPLUS BEFORE TAXATION 286,517 201,145

Tax on surplus 13,260 4,135
SURPLUS FOR THE FINANCIAL YEAR 273,257 197,010

Retained earnings at beginning of year 1,462,570 1,265,560

RETAINED EARNINGS AT END OF YEAR 1,735,827 1,462,570

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 24,653 7,198
Investments 8 916,434 842,925
941,087 850,123

CURRENT ASSETS
Debtors 9 241,308 243,671
Cash at bank 2,793,230 2,498,916
3,034,538 2,742,587
CREDITORS
Amounts falling due within one year 10 2,239,798 2,130,140
NET CURRENT ASSETS 794,740 612,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,735,827

1,462,570

RESERVES
Income and expenditure account 1,735,827 1,462,570
1,735,827 1,462,570

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





E Young - Director


THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. INVESTMENTS

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The company does not acquire put options, derivatives or other complex financial instruments. Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise. Other investments are included at cost, which is considered to be approximate to their market value.

2. STATUTORY INFORMATION

The Sixth Form Colleges' Association Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover relating to subscriptions is recognised in the period to which the subscription relates and right to the consideration is earned.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costs less any accumulated amortisation and any accumulated impairment losses.

Development costs were being amortised evenly over their estimated useful lives of 3 years. Development costs are now fully amortised.

Tangible assets
Tangible assets are initially recorded at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Computer equipment - 33% on cost

Taxation
It has been established that the operating activities of the company relating to members are non-commercial and therefore not subject to corporation tax. However, current and future investment income and income derived from non-members is subject to corporation tax and on this basis a provision for the tax liability on this income has been made within the financial statements.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income and expenditure account in the period to which they relate.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income and expenditure account on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. OPERATING SURPLUS

The operating surplus is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 6,285 5,877

6. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 16,960
AMORTISATION
At 1 August 2023
and 31 July 2024 16,960
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

7. TANGIBLE ASSETS
Computer
equipment
£   
COST
At 1 August 2023 36,602
Additions 23,740
At 31 July 2024 60,342
DEPRECIATION
At 1 August 2023 29,404
Charge for year 6,285
At 31 July 2024 35,689
NET BOOK VALUE
At 31 July 2024 24,653
At 31 July 2023 7,198

THE SIXTH FORM COLLEGES'
ASSOCIATION LIMITED (REGISTERED NUMBER: 02736405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2023 842,925
Additions 17,772
Disposals (7,465 )
Revaluations 63,202
At 31 July 2024 916,434
NET BOOK VALUE
At 31 July 2024 916,434
At 31 July 2023 842,925

Cost or valuation at 31 July 2024 is represented by:

Other
investments
£   
Valuation in 2022 843,273
Valuation in 2023 (348 )
Valuation in 2024 73,509
916,434

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 178,541 201,242
Other debtors 62,767 42,429
241,308 243,671

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 41,398 30,525
Taxation and social security 154,694 152,095
Other creditors 2,043,706 1,947,520
2,239,798 2,130,140

11. LEASING AGREEMENTS

The company had total guarantees and commitments at the balance sheet date of £377,820 (2023 - £101,455).

12. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.