South Gloucestershire and Stroud College Annual Report and ..., Exercises of Accounting

Download South Gloucestershire and Stroud College Annual Report and ... and more Exercises Accounting in PDF only on Docsity!

South Gloucestershire and Stroud College

Annual Report and Financial Statements

Year ended 31 July 20 20

South Gloucestershire and Stroud College

• Reference and administrative details Contents
• Strategic Report
• Statement of Corporate Governance and Internal Control
• Statement of Regularity, Propriety and Compliance
• Statement of Responsibilities of the Members of the Corporation
• Independent Auditor’s Report to the Corporation
• Independent Reporting Accountant’s Report on Regularity
• Consolidated Statement of Comprehensive Income and Expenditure
• Consolidated Statement of Changes in Reserves
• Balance Sheets
• Statement of Cash Flows
• Notes to the Financial Statements
• Appendix 1 – Remuneration Annual Report to the Corporation 201 9 /

South Gloucestershire and Stroud College

Strategic Report

OBJECTIVES AND STRATEGY

The Corporation present their annual report together with the financial statements and auditor’s report for South Gloucestershire and Stroud College for the year ended 31 July 20 20. Legal status The Corporation was established under the Further and Higher Education Act 1992 for the purpose of conducting South Gloucestershire and Stroud College. The College is an exempt charity for the purposes of Part 3 of the Charities Act 2011. The Group includes the College and its subsidiary undertakings, South Gloucestershire and Stroud College Commercial Services Limited (company number 9241494) and SGS Group Services Limited (a dormant company, company number 9791671). An application has been made to Companies House to dissolve SGS Group Services and strike off this company from the register. South Gloucestershire and Stroud College Commercial Services Limited was formed on 30 September 2014 and SGS Group Services Limited was formed on 23 September 2015, both as private companies limited by shares under the Companies Act 2006. The College is the registered holder of one fully paid ordinary share in each company. These shares comprise the only issued share capital of the companies. The Directors of the companies are disclosed on pages 20 - 21. Mission and Strategy The Corporation has adopted the following mission statement: “We positively change people’s lives and add value to the social and economic wellbeing of our communities. We do this by providing high quality, innovative, accessible education and training in a friendly culture of mutual respect and support." The College has adopted the following strategic priorities:

• To be recognised as an outstanding College.
• To be visionary and innovative in providing educational opportunities by anticipating and meeting demand.
• To enhance the quality of the experience we provide for our learners and our staff.
• To develop responsive partnerships with all our learners, employers, and all our stakeholders.
• To ensure we have the necessary resources to support our Plan.
• To provide an educational and training environment which is equipped for the delivery of high- quality learning.

COVID-19:

Following the closure of the College in March 2020 in light of the COVID- 19 pandemic, the Group Chief Executive Officer and Executive Principal and the College Principal began meeting fortnightly with the Chair, Vice-Chair and Clerk of the Corporation to present a summary document which outlines current issues, the risks and how the College is mitigating these. In addition, these risks were also included on a separate COVID- 19 risk register. This has since been incorporated into the main College risk register as risks are addressed and new processes embedded. All staff moved to working off site with significant support from our IT teams, both in delivering remote teaching to learners and in running all of the back-office provision remotely. This continued until learners were allowed back on to campus in September 2020. We were in a fortunate position having been users of Microsoft TEAMS with learners for 12 months prior to lockdown with all delivery staff fully conversant in the use of this system. To support our continued use of TEAMS throughout the pandemic, we have invested heavily in our online learning platform and have recruited a dedicated online delivery manager. In order to secure our 19/20 adult funding targets, extensive marketing plans were in place pre-lockdown and during this period which assisted us enrol 2000 new adult learners. We have developed an extensive adult portfolio of provision that can be found at https://www.sgscol.ac.uk/study/online We have continued to innovate with our online programmes, moving from taking our existing delivery and moving to remote delivery, through to brand new programmes including hairdressing, art on prescription, construction, yoga and gardening. We also invested in a team of staff who provided a dedicated support line to our online learners, and would provide regular calls via the phone or TEAMS, to provide guidance and support as well as discussing progression opportunities. Following advice from our HR specialists and consultation with Governors, the College took the decision not to furlough the very small potential cohort of staff who would be eligible under this scheme. The College worked closely with suppliers providing support with relevant guidance on furloughing staff, various tax deferment schemes and business interruption loans to ensure that the maximum cost savings could be achieved. This was particularly relevant for our cleaning and catering contracts. The planned £1m capital investment at our Filton campus was paused whilst we re-forecast and considered the key risks and uncertainties in our forecast position. The Prime Minister subsequently announced in June that an initial £200m of the £1.5 billion in capital funding made available to support the upgrading of the further education (FE) estate would be brought forward to financial year 2020 to

2021. This will support FE colleges to undertake immediate remedial work in this financial year to upgrade the condition of their estate and provide a boost as the country and its education system emerges from lockdown. The College has been allocated £1,134k and has developed plans to focus this spend on key areas previously identified requiring capital investment. Resources The Group operated from four main campuses at Stroud, Filton Avenue, Berkeley and WISE, with specialist satellite campuses for the School of Art and Design at the Royal West of England Art Academy at Queen’s Road in Clifton and the Bristol School of Animal Management and Conservation at Bristol Zoological Gardens, also in Clifton.

In setting and reviewing the College’s Strategic priorities the Corporation has had due regard for the Charity Commission’s guidance on public benefit and particularly upon its supplementary guidance on the advancement of education. The guidance sets out the requirement that all organisations wishing to be recognised as charities must demonstrate, explicitly, that their returns are for the public benefit. In delivering its mission, the College provides identifiable public benefits through the advancement of education to over 4000 16-18 year olds, 3000 adults, 450 HE learners, 2000 leisure learners and 2000 apprentices. The College also has over 300 16-24 learners with Educational Health Care Plans. The College provides courses without charge to young people, to those who are unemployed and adults taking English and maths courses. The College adjusts its courses to meet the needs of local employers. The College is committed to providing information, advice and guidance to the students it enrols and to finding suitable courses for as many students as possible regardless of their educational background.

DEVELOPMENT AND PERFORMANCE

Financial Results The Group generated a deficit before other gains and losses of £1, 851 k (201 8 /1 9 : deficit of £1, 088 k) and total comprehensive income of £- 1 2,05 6 k (201 8 /1 9 : - £10,002k). These financial results include adjustments to the valuation of the Local Government Pension Scheme as detailed in note 25 to the accounts. These are based on the full valuation as at 31 March 201 9 rolled forward using assumptions as required by FRS102. Excluding FRS102 LGPS adjustments and the adjustment for the revaluation of assets, the Group generated a surplus of £ 335 k (201 8 /1 9 : £ 999 k). 2019/ £’

Surplus before FRS102 and other gains and losses 335 999 FRS102 LGPS adjustments to I&E (2,186) (2,087) Deficit before other gains and losses (1,8 51 ) (1,088) FRS102 LGPS actuarial loss (10,151) (9,083) Unrealised (loss)/surplus on revaluation of assets (54) 169 Total comprehensive income (12,05 6 ) (10,002) This result has retained the Group’s Good Financial Health score; the FRS102 pension adjustment and actuarial loss is discounted from the Financial Health calculation. The College has two subsidiary companies, South Gloucestershire and Stroud College Commercial Services Limited and SGS Group Services Limited. The principal activity of South Gloucestershire and Stroud College Commercial Services Limited is the management and development of property, whilst SGS Group Services Limited is dormant. Any surpluses generated by South Gloucestershire and Stroud College Commercial Services Limited are transferred to the College under deed of covenant. Financial Results - COVID-19: The College received certainty relatively early on that it would be paid for 16 - 18 ESFA, High Needs elements 2 and 3 and HE funding as per our allocations. The risks from a funding perspective remained with Adult Funding, Apprenticeships, Commercial Income Streams and Tuition fees.

Whilst the College received clarity that both the ESFA and WECA would pay its Adult Education Budget in full, as long as it could evidence it had offered online solutions, the ESFA subsequently published new plans to reconcile 2019 - 20 Adult Education Budget (AEB) claims for colleges who achieved less than 68 % of allocation. The College was quick to respond to the COVID- 19 crisis and launched a suite of online courses using the campaign ‘Don’t Kill, Upskill’. This provision, in its first week, received 1500 new adult enrolments. The College continued to deliver remotely wherever possible and has out-turned significantly in excess of the tolerance level to secure the full funding. Apprenticeship funding ceases once a learner/apprentice is not in work/learning for 4 weeks, including the Diploma in Sporting Excellence DiSE). Apprentices can however be furloughed and may continue to be trained but employers must continue to pay them while they are training. The College under- achieved its original budget for apprenticeships as a result of fewer starts from lockdown onwards. This under delivery was fully provided for and compensated with an improved performance on DISE. The College’s commercial income was impacted with loss of sponsorship, parking receipts, theatre income and requests for deferred payments and reductions in service charge income at SGSCSL. The College worked collaboratively with all its customers to ensure a continued relationship going forwards and to ensure any short-term loss has been mitigated as far as possible. Cash flows and liquidity The Group had a net cash inflow from operating activities of £1, 569 k (201 8 /1 9 : £2,946k). The size of the College’s total borrowing and its approach to interest rates has been calculated to ensure a reasonable cushion between the total cost of servicing debt and operating cashflow. During the year this margin was comfortably exceeded. During the year the Group had a total cash inflow of £ 134 k (201 8 /1 9 inflow of £1,305k). Cash flows and liquidity - COVID-19: The College had originally forecast cash balances of £6.0m at 31 July 2020. Difference in timing of receipts from WECA for the Brunel Building, a new build at the WISE campus, and a large payment due to the contractor meant that cash balances ended on £5.5m. As detailed previously, the College worked with key suppliers to ensure that risk areas were fully mitigated against and with key commercial customers to identify early on any potential risks to cashflow. With the deferral of the £1m capital spend at Filton and subsequent receipt from the ESFA for capital investment, the College is confident that it will achieve its forecast cashflow position which shows a low point in March 2021 of £3.3m and in March 2022 of £4.2m. Developments The campus at Berkeley Green has provided increased capacity and the College will seek to increase student numbers over the next three years. The subsidiary company, South Gloucestershire and Stroud College Commercial Services Limited, will continue to develop the Gloucestershire Science & Technology Park, attracting new investment to the site. The College has an ambitious Property Strategy. Its immediate focus over the next 12 months is the completion of the £7m West of England Combined Authority (WECA)-funded Brunel Building due to open September 2021.

Key performance indicator 2019/ Target

Actual Pay to total income (excl. restructuring) < 65.0% 65.8%* Adjusted current ratio > 1.4:1 1.55: Operating surplus/EBITDA as % of income > 4.0% 6.2% Financial Health Grade Good Good Bank Covenants: Total borrowing costs as a percentage of total consolidated income < 7% 2.7% Income & Expenditure Reserves Before Pension Deficit > £10m £23. 9 m Income & Expenditure Reserves as a percentage of total consolidated income >30% 68.7% Historic Cost Surplus achieved in previous three financial years Yes Yes

• Pay to income costs were always going to be challenging in 2019/20, with the continuing increases in pay costs through NI, pension and cost of living awards against static funding rates. The final outturn reflects both a reduction in income due to the impact of Covid- 19 , but also a greater proportion of direct delivery than that budgeted for with an increase in direct pay costs and reduction in non-pay delivery costs. Payment performance The Public Contracts Regulations 2015, in the absence of agreement to the contrary, requires payments to suppliers to be made no later than the end of a period of 30 days from the date on which the relevant invoice is regarded as valid and undisputed. During the accounting period 1 August 2019 to 31 July 2020, the College paid 72.6% of its invoices within 30 days (2018/19: 85.5%). This decline is due to the changes in working environment both with suppliers continuing to post physical invoices to the College campuses whilst in lockdown and also staff moving to working remotely. The College incurred no interest charges in respect of late payment for this period. Risk management The College has well developed strategies for managing risk and strives to embed risk management in all that it does. Risk management processes are designed to protect its assets, reputation and financial stability. The Corporation has overall responsibility for risk management and its approach to managing risks and internal controls is explained in the Statement on Corporate Governance. A risk register is maintained at the College and subsidiary levels which are reviewed by the Audit Committee at every meeting and termly by the Corporation. The risk register identifies the key risks, the likelihood of those risks occurring, their potential impact on the College and the actions being taken to reduce and mitigate the risks. Risks are prioritised using a consistent scoring system. The main risk factors affecting the College are outlined below along with the action taken to minimise them. Not all the factors are within the College’s control; other factors besides those listed below may also adversely affect the College.

• Poor student attendance on site or engagement with remote off-site learning. As a result of COVID-19, learners can no longer always attend and therefore the focus is on engagement through a digital experience.

• Unplanned, adverse impact on 2020/21 financial outturn as a result of COVID-19. The 2020/ curriculum plan and budget has been reworked with further provision against apprenticeship income which is high risk due to the inability to undertake recruitment and sign-ups
• Staff or students contract COVID- 19 following phased return to campuses with the virus spreading through College infecting those at higher risk. The College has implemented a zones approach allowing the ability to lock down small areas of College without risking the whole campus. Zones and staggered start-times and breaks are all in place and there are regular updates to staff and parents.
• Failure to improve Maths and English in line with government requirement and OFSTED agenda. The College is endeavouring to get as much face to face English / Maths delivery as possible, although this remains challenging due to high levels of staff anxiety. Going Concern The Association Of Colleges (AoC) believes that the current situation will lead to more 16 - 25 year olds wanting to improve their qualification in the light of the likelihood of increasing unemployment, a large cohort needing to catch-up with missed studies, a shortage of apprenticeship opportunities, large number of adults requiring re-training support and the need for colleges to maintain social distancing measures and build on distance learning capacity and capability. The College has recruited significantly more 16 - 19 year olds in 2020/21 than allocation which supports the view of the AOC. The College submitted its two-year financial plan to the ESFA in July which factors in assumptions including:
• Rebuild post Pandemic
• Reducing income (Prudent forecasting due to social distancing)
• Stable operating surplus, albeit very small, close to break even
• Improving Commercial Services trading position
• Stability of staffing costs and retaining staff
• Impact of capital investment/depreciation recognised
• Growth in teaching budget to recognise inefficiency with social distancing The Chief Financial Officer and College Principal meet regularly to consider the impact of any known operational changes and more formally with the Head of Finance and Finance Business Partners on a bi- monthly basis to reforecast and ensure that any key risk areas are considered and fully provided against. The latest forecast takes account of the additional 16-19 tuition fund for the 2020-21 academic year which is ring-fenced to support small group tuition in English, maths and other courses where learning has been disrupted. The College is currently forecasting to outturn at least a break-even position for the current year and on this basis expects to retain its good financial health. The activities of the College, together with the factors likely to affect its future development and performance are set out in the Strategic Report. The financial position of the College, its cashflow, liquidity and borrowings are presented in the financial statements and accompanying notes. The financial statements have been prepared on a going concern basis which the Corporation considers to be appropriate for the following reasons.

result of the pandemic, a greater focus will also now be placed on remote and digital delivery and how the College engages learners offsite whilst ensuring that our rigorous approach to safeguarding is maintained. EQUALITY AND DIVERSITY Equality The College is committed to ensuring equality of opportunity for all who learn and work here. We have an active Inclusion Committee that inputs to and helps shape our policies and practices. This groups meets regularly and provides a broad perspective, inputs, and oversight to our inclusion agenda. We respect and value positively differences in race, gender, sexual orientation, disability, religion or belief and age. We strive vigorously to remove conditions which place people at a disadvantage and we will actively combat bigotry. This College’s Single Equality policy is resourced, implemented and monitored on a planned basis. This Policy is also published on the College’s internet site. The College publishes an annual Equality Report and Equality Objectives to ensure compliance with all relevant equality legislation including the Equality Act 2010. The College undertakes equality impact assessments on all new policies and procedures and publishes the results. Equality impact assessments are also undertaken for existing policies and procedures on a prioritised basis. The College is a ‘Positive about Disabled’ employer and has committed to the principles and objectives of the Positive about Disabled standard. The College considers all employment applications from disabled persons, bearing in mind the aptitudes of the individuals concerned, and guarantees an interview to any disabled applicant who meets the essential criteria for the post. Where an existing employee becomes disabled, every effort is made to ensure that employment with the College continues. The College's policy is to provide training, career development and opportunities for promotion which, as far as possible, provide identical opportunities to those of non-disabled employees. The College has committed to the ‘Mindful Employer’ initiative to assist the mental health wellbeing of staff. We have also invested in 'Togetherall' which provides our staff and students with access to 24/ support and resources provided anonymously via clinically managed online forums. The College has achieved accreditation to the Committed to Equality (C2E) standard at the gold (highest) level. The College has also implemented an updated Equality & Diversity training programme which all staff have attended. Refresher training and training for new starters is carried out on an ongoing basis. Disability statement The College seeks to achieve the objectives set down in the Equality Act 2010: a) All main campuses are considered fully compliant based on individual campus’ access audits b) The admissions policy for all students is described in the College charter. Appeals against a decision not to offer a place are dealt with under the complaints policy.

c) The College makes a significant investment in the appointment of specialist staff to support

students with learning difficulties and/or disabilities. There are a number of learning support workers who provide a variety of support for learning, details of which are provided in the College’s provision map, which is published on the College website. There is a continuing programme of staff development to ensure the provision of a high level of appropriate support for students who have learning difficulties and/or disabilities.

Trade union facility time The Trade Union (Facility Time Publication Requirements) Regulations 2017 require the College to publish information on facility time arrangements for trade union officials at the College. Number of employees Full time equivalent Trade union officials in 2019/20 4 3. Percentage of time Number of employees 0% 0 1 - 50% 4 51 - 99% 0 100% 0 Total cost of facility time £19, Total pay bill £24,765k Percentage of total bill spent on facility time 0.08% Time spent on paid trade union activities as a percentage of total paid facility time 9.91% EVENTS AFTER THE REPORTING PERIOD There have been no reportable events since the Balance Sheet date – 31 July 20 20. DISCLOSURE OF INFORMATION TO AUDITORS The members who held office at the date of approval of this report confirm that, so far as they are each aware, there is no relevant audit information of which the College’s auditors are unaware; and each member has taken all the steps that he or she ought to have taken to be aware of any relevant audit information and to establish that the College’s auditors are aware of that information. Approved by order of the members of the Corporation on 3 December 20 20 and signed on its behalf by: David Hagg Chair of the Corporation

Member’s Name Status of appointment Date of appointment Term of office Date of resignation Committees served Meeting attendance in 201 9 / 20 (Vice Chair of the Corporation until 31 Jul 20) Jan 16 Jan 20 4 years Until 31 July 2020 Remuneration (Chair) Search (Vice Chair) Moyra Pascoe (Chair of the Corporation from 1 Aug 19- to 1 Aug 20) External Member Jan 12 Jan 16 Jan 20 4 years 4 years 2 years 13 October 2020 Search Strategic Property Group (Vice-Chair & Chair) Remuneration 77% Roger Ellis Staff Member Mar 12 Aug 13 Aug 17 Until 31 Jul 13 4 years 4 years 63% Phil Eames External Member Oct 15 Oct 19 4 years 4 years Audit (Vice Chair) 92% Richard O’Doherty External Member May 16 4 years Remuneration (Vice Chair) 78% Joe Lamonby External Member Oct 16 4 years 31 July 2020 Audit (until Oct

Search (until Oct 19) 60% Mike Croker External Member May 17 4 years Audit (Chair) 92% David Benson External Member Jan 18 4 years 26 February 2020 Strategic Property Group (Chair) 67% Dave Merrett External Member Jan 18 4 years Audit Remuneration 87% Sophie Chester- Glyn External Member Mar 18 4 years Search 83% David Hagg External Member Oct 18 4 years Remuneration Search 91%

Member’s Name Status of appointment Date of appointment Term of office Date of resignation Committees served Meeting attendance in 201 9 / 20 (Chair of the Corporation w.e.f. 1 Aug 20) Ben Short External Member Dec 18 4 years Audit 82% Sophie Green (Vice-Chair of the Corporation w.e.f. 1 Aug 20) External Member Feb 19 4 years Search Remuneration 100% Carly Dyson External Member May 19 4 years Strategic Property Group (Chair) 85% Charlotte Argust Student Member Aug 19 Until 31 Jul 20 0% Juno Sharrock Student Member Aug 19 Until 31 Jul 20 0% Matt Davis Staff Member Oct 19 4 years 86% Lynne Craig External Member Apr 20 1 st^ year term of office Remuneration Strategic Property Group 100% Nicole Clark Student Member Aug 20 Until 31 July 2021 N/A Alicia Chappell Student Member Aug 20 Until 31 July 2021 N/A Louise Bright External Member Nov 20 1 st^ year term of office N/A Rick Sturge External Member Nov 20 1 st^ year term of office N/A Mrs Laura Boutle, external Co-Opted Member, was Chair of the Search Committee. Mr John Huggett, external Co-Opted Member, was a member of the Strategic Property Group until his resignation on 30 September 2020. Mrs Sally Flett, external Co-Opted Member, is a member of the Audit Committee. Mrs Sharon Glover acted as Clerk to the Corporation and Company Secretary to the College’s subsidiary companies.

Appointments to the Corporation External Members of the Corporation/external Co-Opted Members are initially appointed for a one-year term of office with a view to completing the full four-year term of office following recommendation from the Search Committee. An External member should not normally serve for more than two terms (or maximum of 8 years). However, the Corporation may reappoint an External member for further terms if there are special reasons. Staff Members are appointed following staff elections and Student Members are appointed following student elections. Any new appointments to the Corporation are a matter for the consideration of the Corporation as a whole. The Corporation is also responsible for ensuring that appropriate training is provided to members of the Corporation as required. In this respect arrangements are made to ensure that each new Corporation/Co- Opted Member is afforded the opportunity to attend induction training. High quality training and development arrangements are also available both for individual members and for the Corporation as a whole so that collectively the Corporation has the necessary skills and understanding to fulfil its responsibilities under the Instrument and Articles of Government and to enable members to make an effective contribution to the work of the Corporation. Corporation performance The Corporation conducts a rigorous annual self-assessment of its own performance, taking into account feedback from Corporation Members, Executive Team, Chair of the Corporation review and Committee Self-Assessments, and this forms the basis of the Governance Self-Assessment Report and governance action plan. The Corporation carried out a self-assessment of its own performance for the year ended 31 July 2020 and graded itself as “Outstanding” on the Ofsted scale. Search Committee The Search Committee comprises an external Co-Opted Member as Chair and five members of the Corporation (Chair of the Corporation, Group CEO & Executive Principal and three other Corporation Members). The Committee is responsible for the selection and nomination of any new external member for the Corporation’s consideration in accordance with the Procedure for the appointment, reappointment, induction and training of Corporation Members. The Committee is also responsible for monitoring the diversity balance of the Corporation and recommending appointments to remedy any under-representation when appropriate. The Committee also has due regard to the College’s obligations under all aspects of discrimination legislation. Remuneration Committee The Remuneration Committee consists of five members of the Corporation. Throughout the year ending 31 July 2020 the remuneration and benefits of Senior Post holders (including the Accounting Officer), other posts within the SGS Group specifically named by the Corporation and the Clerk to the Corporation were the subject of recommendations to the Corporation by the Remuneration Committee appointed by the Corporation for that purpose. At its 28 March 2019 meeting the Corporation approved to adopt The Colleges’ Senior Post Holder Remuneration Code. A requirement of this Code is the production of an annual report from the Remuneration Committee to the Corporation. The report for period 2019/20 is appended to this Annual Report and Financial Statements as Appendix 1.

Details of remuneration for the year ended 31 July 2020 are set out in note 8 to the financial statements. Audit Committee The Audit Committee consists of at least three and up to five external members of the Corporation and also includes the option to appoint one external Co-opted member. The Group CEO & Executive Principal, who is the Accounting Officer, and the Chair of the Corporation are not members of the Committee. The Committee operates in accordance with written terms of reference approved by the Corporation. The Audit Committee meets four times a year and provides a forum for reporting by the College’s internal, regularity and financial statements auditors who have access to the Committee for independent discussion, without the presence of College management. The Committee also receives and considers reports from the main FE funding bodies as they affect the College’s business. The College’s internal auditors review the systems of internal control, risk management controls and governance processes in accordance with an agreed plan and report their findings to management and the Audit Committee. The College's internal audit function provides assurance to management and the Audit Committee. Internal audit makes recommendations for improvement in key management processes. It particularly aims to ensure that key risks are being appropriately managed, including those in relation to the use of funds and value for money. Management is responsible for the implementation of agreed audit recommendations and internal audit undertakes periodic follow-up reviews to ensure such recommendations have been implemented. The Audit Committee also advises the Corporation on the appointment, reappointment, dismissal and remuneration of the financial statements and regularity auditors and other assurance providers, including internal auditors as well as reporting annually to the Corporation. Strategic Property Group (SPG) The SPG comprises of the Group CEO & Executive Principal, a minimum of three Corporation Members, one external Co-Opted Member and the Group Chief Financial Officer. The Group operates in accordance with written terms of reference approved by the Corporation. The SPG is a working group of the Corporation, its role is to oversee the initiation, development and implementation of capital estates projects and associated business cases and the Property Strategy in accordance with Corporation requirements. South Gloucestershire and Stroud College Commercial Services Limited The Directors of the company are: Name Position Date of appointment Kevin Hamblin Managing Director 30 September 2014 Andy Slaney Deputy Managing Director 30 September 2014 Resigned: 18 March 2020 Martin Jones Director & Chair until 31 July 2020 30 September 2014 Stephen Marston Director 13 November 2014 John Huggett Director 1 August 2018