Page 102 - Annual Review - Year Ended 31 July 2023

Notes to the the financial statements for the the year ended 31 July 2023
18 Advanced fees
Group
2023
2022
£ £ £ £ College 2023
£ - 41 172
41 172
917 415
958 587
College £ - 695
2022
£ 41 172
53 401
94 573 1 340 770
1 435 343
College £ 145 719
695
(51 841)
- 94 573 College 2022
£ 342 778
Parents may pay to the College tuition fees
in advance Such payments may be returned subject to specific conditions on on on on the receipt of one term’s notice Assuming pupils remain in in in the advanced fees
payment payment scheme payments will be applied to offset fees
as outlined in in the above left table Also included in in in advanced fees
in in in creditors due within one year (note 16) are credit balances of £864 014 (2022: £1 416 042) within the fees
ledger The advanced fees
balance represents the accrued liability under the contracts The capital movements during the the year are outlined in in in the the below left table Within two to five years - 60
989 Within one to two years 41 172
62 753
Over one year 41 172
123 742 Within one year 917 415
1 1 1 1 350 122
958 587
1 473 864 Group
Group
Group
Group
£ £ £ £ At 1 1 August 2022
184 240 New contracts - Amounts accrued to contracts 695
695
Amounts utilised in payment of fees
(62 305)
Amounts returned to parents (28 057)
At 31 July 2023
19
Financial instruments
Financial (assets) / liabilities measured at fair value
94 573 Financial (assets) / liabilities measured at at fair value
comprise the the interest rate swap swap The movement on the the swap swap during the year was £469 241
(2022: £524 930) 102
MALVERN COLLEGE (INCORPORATED UNDER ROYAL CHARTER)
College 2023
£££
(126 (126 463) 463) 342 778
(126 (126 463) 463) Group
2023
Group
2022