Report and Financial Statements for the year ended 31st July 2025
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Date: 31.03.2026
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CHICHESTER COLLEGE GROUP
Consolidated & College Statements of Comprehensive Income for the year ended 31st July 2025
CHICHESTER COLLEGE GROUP
Consolidated and College Statement of Changes in Reserves for the year ended 31st July 2025
Neitherthegroupnorthecollegehadanynon-controllinginterests
CHICHESTER COLLEGE GROUP
sheets as at 31st July 2025
Thefinancialstatementsonpages40to73wereapprovedandauthorisedforissuebytheCorporationon 30thMarch2026andweresignedonitsbehalfonthatdateby:
CHICHESTER COLLEGE GROUP
Consolidated Statement of Cash Flows for the year ended 31st July 2025 Notes 20252024
Cash inflow from operating activities
Surplusfortheyear 7,750 1,741
Adjustment for non cash items
Depreciation8,719 8,171
ReleaseofDeferredCapitalGrants(3,375) (3,026)
Loss/(Gain)oninvestmentproperties 19 (49) (Gain)oninvestments(9) (2) (Increase)/Decreaseinstocks (55) 29
Decreaseindebtors 2,242 1,053 (Decrease)/Increaseincreditorsduewithinoneyear (1,476) 992
Increase/(Decrease)increditorsdueafteroneyear- (2,131) (Decrease)/Increaseinotherprovisions(520) 200 Enhancedpensionprovisionmovement (33) (22)
Pensionscostslesscontributionspayable(1,372) (670)
Movementinrestrictivereserve(11) (5)
TaxationPayable7 27
Adjustment for investing or financing activities
Investmentincome(5,854) (5,251)
Interestpayable1,386 1,320
Taxationpaid(26) (24) (Profit)/Lossonsaleoffixedassets (42) (12)
Net cash flow from operating activities 7,350 2,341
Investing activities
Proceedsfromsaleoffixedassets118 15 Investmentincome228 252 Paymentsmadetoacquirefixedassets (46,488) (29,207) CapitalGrantsReceived
(16,215) (1,321)
Financing activities
Interestpaid(1,155) (1,418)
Interestelementoffinanceleaserentalpayments(111) (59)
Newfinanceleases978 683
Newloans8,991 12,139
Repaymentsofamountsborrowedongoing(822) (10,808)
Capitalelementoffinanceleaserentalpayments (618) (578) 7,263 (41)
(Decrease)/Increase in cash and cash equivalents in the year (1,602) 979
CHICHESTER COLLEGE GROUP
IncomeinrelationtoLevel4coursesandabove Fundingbodygrants
Theseamountsareincludedwithintheamountsdisclosedinnotes1and2
COLLEGE GROUP
Erasmus/Turing(nonDfEFunded)
1 Seenote14regardingthetradingsubsidiariesofthegroup. 5
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
6 Donations andEndowments
Total
TheGroup'ssubsidiarycompaniesdistributetheirprofitstotheGroupasgiftaid.
7
Staffcosts-GroupandCollege
Theaveragenumberofpersons(includingkeymanagementpersonnel)employedbytheGroupduringthe year,expressedasaverageheadcountandcalculatedonamonthlybasis,was:
Teachingstaff Nonteachingstaff
Staffcostsfortheabovepersons
Socialsecuritycosts
Otherpensioncosts Wagesandsalaries
Payrollsubtotal
FundamentalrestructuringcostsContractedoutstaffingservices
AllseverancecostswereapprovedbytheCorporation.
SeverancePayments
TheGrouppaid2severancepaymentsintheyear,withinthefollowingbands:
£0to£25,000
Includedinstaffrestructuringcostsarespecialseverancepaymentstotalling£5,626(2024:£17,450).These amountswerebelowtheapprovalthresholds.Individually,thepaymentswere:£1,400and£4,226.
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
7
Keymanagementpersonnelcompensation
Keymanagementpersonnelarethosepersonshavingauthorityandresponsibilityforplanning,directingand controllingtheactivitiesoftheCollegeandarerepresentedbytheGroupLeadershipTeamwhichcomprisesthe ChiefExecutiveOfficer,ExecutivePrincipal&DeputyChiefExecutive,ChiefFinancialOfficer,ChiefCommercial Officer,ChiefOperatingOfficer,PrincipalofBrinsbury&CrawleyColleges&DeputyExecutivePrincipal,Principal ofBrightonMet&HaywardsHeathColleges,PrincipalofChichesterCollege,PrincipalofNorthbrook&Worthing Colleges.Staffcostsincludecompensationpaidtokeymanagementpersonnelforlossofoffice.
Thenumberofkeymanagementpersonnelincludingthe EmolumentsofKeymanagementpersonnel,AccountingOfficerandotherhigherpaidstaff
20252024
Staffcosts-GroupandCollege(continued) personnel(PartTime)* KeymanagementOtherStaffOtherStaff
Thenumberofkeymanagementpersonnelandotherstaffwhoreceivedannualemoluments,excludingpension contributionsandemployer'snationalinsurancebutincludingbenefitsinkind,inthefollowingrangeswas:
*Parttimeworkersgrosseduptofulltimeequivalentandstaffonmaternity,paternityorsicknessleaveattheir usualrateofpay
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
Staffcosts-GroupandCollege(continued)
Keymanagementpersonnelemolumentsaremadeupasfollows:
Benefitsinkind
Pensioncontributions
Totalemoluments
Therewasnoperformancerelatedpayintheyear.Therewerenoamountsduetokeymanagementpersonnelthatwere waivedintheyear,noranysalarysacrificearrangementsinplace.Theaboveemolumentsincludeamountspayableto theAccountingOfficer(whoisalsothehighestpaidofficer)of:
Pensioncontributions
theCode.Theremunerationpackageofthekeymanagementpersonnel,includingtheChiefExecutive,issubjectto annualreviewbytheRemunerationCommittee,whojustifytheremunerationbytakingintoaccountthevaluedelivered, point.TheChiefExecutive'ssalarywasdeterminedinJuly2022followingareviewbytheRemunerationCommittee. A
GroupandsectordataonthepayofAccountingOfficers.TheAccountingOfficerwasnotinvolvedthereviewor determinationofhissalary.Sincethesalarywassetin2022,theChiefExecutivehasreceivedannualincreasesinline withthoseawardedtoallstaff.
full-timeequivalents,issetoutbelowforbothbasicsalaryandtotalremuneration.
TotalremunerationinthemedianpaycalculationincludesallpaychargeabletoUKincometax,benefitsinkind& employerspensioncontributions.Excludedfromthecalculationareemployersnationalinsurance,reimbursedexpenses, severancepaymentsandagencystaff.
ThemembersoftheCorporationotherthantheAccountingOfficerdidnotreceiveanypaymentfromtheinstitutionother thanthereimbursementoftravelandsubsistenceexpensesincurredinthecourseoftheirduties.
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st
Otheroperatingexpenses
Teachingcosts
Nonteachingcosts Premisescosts
Otheroperatingexpensesinclude:
* includes£103,000inrespectoftheCollege(2023/24£101,000)
** includes£nilinrespectoftheCollege(2023/24£nil)
***includes£60,000inrespectoftheCollege(2023/24£62,000)
8a Accessandparticipationspending
Total 20252024
ThepublishedAccessandParticipationPlancanbefoundhere: https://www.chigroup.ac.uk/governance/policies-and-procedures/higher-education-policies/
9 Writeoffs,losses,guarantees,lettersofcomfort,compensationpayments
Therewere3debts(2024:2debts)writtenoffwithavalueofmorethan£5,000.Debtsof£6,208,£6,293and £6,743relatedtostudentdebtthatwerenolongerviabletochase.
CHICHESTER COLLEGE GROUP
ThetaxchargeaboverelatestotheGroup'stradingsubsidiarycompanies.Wherepossible,taxableprofitsofthe subsidiarycompaniesarepaidtotheCollegeundergiftaid.
Tangiblefixedassets(Group)
Landandbuildings Assetsinthe Courseof Construction
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued) 12 Tangible fixed assets (College only)
Land and buildings
Assets in the Course of Construction
LandandBuildingsforChichesterandBrinsburycampuseswererevaluedin2000atdepreciatedreplacementcost.Landwas valuedin2014atdepreciatedreplacementcostbyMedhurstsafirmofindependentcharteredsurveyors.Thesevalueswere retainedasdeemedcostontransitiontoFRS102.Investmentpropertieswerevaluedatfairvalueasat31stJuly2025by MarshallClark&JulianWilkins&Co.Fairvaluebeingthepricethatwouldbereceivedwhensellinganassetinanorderly transactionbetweenmarketparticipantsatthemeasurementdateandusingassumptionsofthemarketconditionsandriskat thatdate.Thecarryingvalueoftheinvestmentpropertiesat31stJuly2025,baseduponthedeemedcostupontransitionto FRS102,was£792,000(2024:£811,000).ThepreFRS102transitionhistoricalcostofrevaluedbuildings,was£373,000(2024: £373,000)andassociateddepreciationchargeintheyearwouldhavebeen£8,000(2024:£8,000),givinganaccumulated depreciationchargeof£209,000(2024:£193,000).
Thenetbookvalueofequipmentincludesanamountof£1,618,000(2024:£1,206,000)inrespectofassetsheldunderfinance leases.Thedepreciationchargeontheseassetsfortheyearwas£574,000(2024:£470,000).
Ifinheritedlandandbuildingshadnotbeenrevaluedtheywouldhavebeenincludedatthefollowinghistoricalcostamounts: £25,301,000fortheHE/STEMCentreattheChichestercampus,£12,855,000fortheIOTBuildingattheCrawley campus,£4,098,000fortheredevelopmentoftheMusicblockattheChichestercampus,£1,641,000fortheworkatthe CrawleycampusinrelationtotheCrawleyTownFund,£6,253,000attheWestDurringtoncampus&£1,698,000atthe WorthingcampusinrespectoftheclosureoftheBroadwatercampus.
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued) 13 Intangible fixed assets
CHICHESTER COLLEGE GROUP
Investmentsinsubsidiarycompaniesareasfollows:
Thecollegeowns100%oftheissuedordinaryshares&100%oftheallottedpreferencesharesofits subsidiaries,allofwhichareincorporatedinEnglandandWales.Theinvestmentsareshownatcost.
FirstStepsChildcareGroupLimitedwasincorporatedon3rdFebruary1993andcommencedtradingon1stApril 1993.Theprincipalbusinessactivitiesaretheprovisionofnurseryservices.On24thFebruary2021, ChichesterCollegeGroupacquired500,000of£1preferencesharesatpar,whichrepresented100%ofthe issuedpreferenceshares.Theresultsfortheyearended31stJuly2025havebeenincludedintheconsolidated financialstatements.
TheCollegeacquireditsinterestinAngliaExaminationSyndicateLimitedon25November1993for£70,000. Theprincipalactivityistheestablishmentandadministrationofaneducationsyllabusinanumberof countries.On24thFebruary2021,ChichesterCollegeGroupacquired50,000of£1preferencesharesatpar, whichrepresented100%oftheissuedpreferenceshares.Theresultsfortheyearended31stJuly2025have beenincludedintheconsolidatedfinancialstatements.
ChichesterCollegeGroupCommercialLimitedwasincorporatedon11thMarch2018andisadormantcompany.
15 Tradeandotherreceivables
COLLEGE GROUP
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
19 Maturity of debt
(a) Bank loans and overdrafts
Bankloansandoverdraftsarerepayableasfollows:
Abankloanatafixedrateof6.645%wasrenegotiatedon1stAugust2022(2025:£1,275,000,2024: £1,575,000).ThisloanissecuredonthepropertyWestgateHallsattheChichesterCampus.Theloan ispayablebyquarterlyinstalmentsupto31stAugust2029.
(b) Finance leases
Thenetfinanceleaseobligationstowhichtheinstitutioniscommittedare:
Inoneyearorless Betweentwoandfiveyears
Infiveyearsormore
Financeleaseobligationsaresecuredontheassetstowhichtheyrelate.
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
19 (continued)
(c) ConcessionaryFundingBodyLoans
Fundingbodyloansarerepayableasfollows:
Inoneyearorless
Betweenoneandtwo
Betweentwoandfive
Infiveyearsormore
Total
Aloanfor£1,805,000(2024:£2,005,000)atavariableratebasedontheonpublicworksloanboard(PWLB)6 monthrateplus2%margin,wasrenegotiatedon31stJuly2024tobereplacedwithavariableratebasedonPWLB standardrate.TheloanissecuredontheChichesterCampus(excludingthepropertyWestgateHalls)andis repayablebyannualinstalmentsstartingonSeptember2019uptoJuly2029.
Aloanfor£9,079,000(2024:£9,139,000),atavariableratebasedonPWLBstandardrate,wasnegotiatedon31st July2024.TheloanissecuredonthePelhamStreetcampusandisrepayablebyquarterlyinstalmentsstartingin February2026uptoFebruary2038.
Aloanfor£11,991,000(2024:£3,000,000withdrawdownoptionsofanadditional£12,300,0000),atavariablerate basedonPWLBstandardrate,wasnegotiatedon31stJuly2024.TheloanissecuredonthePelhamStreetcampus. £10,000,000oftheadditionaldrawdownandisrepayableontheearlierofthesaleoftheBroadwatercampusor January2028.ThebalanceoftheloanisrepayablebyquarterlyinstalmentsstartinginJanuary2026uptoJuly2034.
(d) OtherLoans
Otherloansarerepayableasfollows:
Total
AloanwithWorthingBoroughCouncilwasnovatedonmergerwithGBMet.Theloanisatafixedrateof4.6%and repaidbybiannualinstalmentsuntilDecember2039.TheloanissecuredontheDurringtoncampus. 20252024
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
20 Provisions
TheenhancedpensionprovisionrelatestothecostofstaffwhohavealreadylefttheCollege'semploymentand commitmentsforreorganisationcostsfromwhichtheCollegecannotreasonablywithdrawatthebalancesheet date.Theprovisionhasbeencalculatedinaccordancewithguidanceissuedbythefundingbodies.Definedbenefit
FurtherdetailsaregiveninNote26.
Aprovisionof£520,000isinrelationtoadditionalpaycostsarisingfromHarpurTrustvBrazelcasewasreleased intheyear.
21 Reserves
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
22 Cashandcashequivalents
23 Capitalcommitments
24LeaseObligations
At31JulytheCollegehadminimumleasepaymentsundernon-cancellableoperatingleasesasfollows:
Landandbuildings
Notlaterthanoneyear
Laterthanoneyearandnotlaterthanfive Futureminimumleasepaymentsdue
laterthanfiveyears
Other
Notlaterthanoneyear
Laterthanoneyearandnotlaterthanfive laterthanfiveyears
Includedintheobligationforlandandbuildingsareamountspayableunderthetermsoftheleaseforland atShorehamairportof£86,400perannum.Theleaseisfor125yearsandisduetoexpirein2128.
CHICHESTER COLLEGE GROUP
Notes to the Accounts for the year ended 31st July 2025 (continued)
25Events after the reporting period
TheGrouphasbeenimplementingaconsolidationstrategyofitsaccommodationinWorthing. Thisinvolves thesaleoftheBroadwatersite,withtheexpectedproceedsbeinginvestedinaccommodationworksat theotherWorthingsitestofacilitatetherelocationofcurriculumprovision.
26Retirement benefits
SchemeEnglandandWales(TPS)foracademicandrelatedstaff;theWestSussexLocalGovernment PensionScheme(LGPS)fornon-teachingstaff,whichismanagedbyHymansRobertsonandNESTpension schemefornurserystaff.TPSandLGPSaremulti-employerdefined-benefitplans.NESTisadefined contributionplan.Thedefinedbenefitpensioncostsareassessedinaccordancewiththeadviceof independentqualifiedactuaries.ThelatestformalactuarialvaluationoftheTPSwas31stMarch2020andof theLGPS31stMarch2022.
Total pension cost for the year
EnhancedpensionchargetoStatementofComprehensiveIncome(55) -
TheTeachers'PensionScheme(TPS)isastatutory,contributory,definedbenefitscheme,governedbythe Teachers'PensionsRegulations2014.Theseregulationsapplytoteachersinschools,collegesandother educationalestablishments. Membershipisautomaticforteachersandlecturersateligibleinstitutions. TeachersandlecturersareabletooptoutoftheTPS.
