NEW COLLEGE WORCESTER

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +9.2%

  £5,868,331 → £6,407,994

• Cash

  +21.4%

  £1,856,918 → £2,254,009

• Net assets

  +6.7%

  £16,169,200 → £17,249,742

• Employees

  +4.9%

  162 → 170

• Operating profit

  +1,167.1%

  -£100,262 → £1,069,891

• Profit before tax

  +2,294.4%

  -£49,833 → £1,093,542

• Wages

  +19.5%

  £3,737,759 → £4,466,573

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Auditor

Kendall Wadley LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the Trustee Governors' 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 charitable 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.”

Significant events

• “2023/24 continued to be a year of change for the development of New College Worcester as we built on the achievements of the 2022/23 year. Governors continued their focus on the college strategic direction, reviewing strategic priorities and supporting the strategic workstreams.”
• “The Business Repositioning Programme we launched in the 2022/23 Summer Term continued to be a major focus in 2023/24.”
• “With my first year as Chair commencing September 2023, it was an exciting time to come into the role and I have been very well supported by the Vice Chair and all governor colleagues.”
• “In support of continuous quality improvement in governance, the board commissioned an external governance review in spring 2024 and have been working to address positive changes throughout the summer term.”
• “There continued to be changes to the Governing Body, with two long standing Trustee/Governors stepping down and I would like to acknowledge their invaluable contribution alongside that of a third governor who unfortunately was only to stay a short while with us.”
• “The success of this approach was demonstrated in June 2024 by the college achieving an Ofsted Residential Care Inspection grading of Good across all three judgment areas.”
• “The academic year 2023-2024 has been purposeful in terms of beginning to reposition ourselves as a sector leader within the SEND educational arena. We have been supported in this repositioning through advice given from the Department for Education (Dr Lorna Pursglove and Michelle Dunn) and as a result, we have undertaken a significant redundancy and restructure process across the residential aspect of the college with the aim of both improving the facilities available to the students and use of the allocated funds.”
• “We have rationalised the number of student houses from 5 houses to 3 houses and restructured the working patterns of staff to ensure that full time roles are fulfilled and that contracts reflect hours worked.”
• “The strong financial results shown for the financial year 2023/2024 are due to the extra income this year derived from two very generous legacies (together of almost £2m) left to The College by former students John Claricoat and Alan Smith and the sale since the year end of a surplus property unused by The College for over 5 years (Windy Ridge House sold for £776k).”
• “It was decided to close the DB Scheme and open a DC Scheme. This was opened from 1st January 2025 with lower contribution rates of 7.5% Employer's contribution for existing staff and 5% Employer's contribution for new support staff members.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.