Page 109 - Annual Review - Year Ended 31 July 2023

26 Related party transactions
The Malvernian Society Limited
The Malvernian Society Limited
is a a a a company limited by guarantee that promotes the work and education at the the College assists in in the the carrying on of a a a a school or schools and in in cases of need assists pupils in in further training A number of of members of of The Malvernian Society Limited’s Committee are also members of Malvern College’s Council This year the College received £249 339 from The Malvernian Society £245 735 was received for Assisted Places £1 004 for for the defibrillator £500 for for rackets and £2 100 for sport including tours Last year the College received £366 898 from The Malvernian Society £267 400 was received for Assisted Places £80 967 was received for Disability projects £11 613 was received for the refurbishment of Cwm Llwch £3 363 was received for the purchase of Steinway Pianos £3 000 towards annual prizes and £556 for House equipment At the year-end £1 £1 176
was due due to (2022: £158 due due to) The Malvernian Society Limited
The Malvernian Society Limited
owns some of the land and and buildings within the College grounds In 2010-11 the the College sold a property to the the Malvernian Society Limited
and leased back that property for College use That arrangement continued in 2022-23 and the the the rent paid from the the the College to the the the Malvernian Society Limited
in the year was £19 200 (2022: £19 200) The The results of The The Malvernian Society Limited
are not included in in fin the consolidated financial statements Whilst they they are deemed to be “related” they they do not meet the Charities SORP definition of “connected” and as such their results are not presented within these financial statements The Downs Malvern The Downs Malvern (TDM) was the trading name of The Downs Malvern College Prep School (TDMCP) In June 2007 the College contributed £5 5m to The Downs Malvern College Prep School on the merger
of The Downs and Hillstone at which point TDMCP became a a a a a separate registered charity On 1 November 2022 TDM was merged into the College by way of a a a donation totalling £5 188 766 and the College results include this entity from that date forward Malvern College Enterprises
Limited
(MCEL)
The College invoiced £491 987 (2022: £590 334) to MCEL MCEL and MCEL MCEL invoiced £110 281 (2022: £50 991) to the the College in in the the current year The sales invoices from the College related to cost recharges VAT transactions
and commercial trading sales The College and and MCEL have a a a a a a licence and and lease back agreement for the the the use of the the the current all-weather pitch The College receives £30 900 for the licence fee and pays £40 169 for the lease costs At the year end £215 571 (2022: £86 100) was owed by MCEL to the College and £17 562 (2022: £44 394) was owed by the College to MCEL Malvern College International
Limited
(MCIL)
The College invoiced £178 802 (2022: £153 538) to MCIL MCIL and MCIL MCIL invoiced £60 696 (2022: £48 511) to the the College in in the the current year The sales invoices from the College related to cost recharges VAT transactions
and commercial trading sales At the year end £1 £1 617 031 (2022: £1 £1 802 646) was owed by MCIL to the College and £20 886 (2022: £58 919) was owed by the College to MCIL MALVERN COLLEGE (INCORPORATED UNDER ROYAL CHARTER)
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