Under the new Ofsted framework, updated last year, schools are marked on quality of education, behaviour and attitudes, personal development, leadership and management, education programmes for young people and overall effectiveness at previous inspection.
Grades range from Inadequate, Requires Improvement, Good and Outstanding.
The report said: "Learners enjoy their learning, are attentive in class and want to do well on their courses. During their time at the college, most learners develop ambitious aspirations for their future."
In particular the inspection praised the sixth form's "highly skilled teachers", the high standard of work produced by students and the "wide range of enrichment activities" on offer.
Areas highlighted that require improvement include the governors' ability to hold management to account.
The report states: "Governors do not hold the principal and senior leaders to account well enough.
"They do not receive sufficient information from leaders to fulfil their responsibilities.
"They too readily accept leaders’ often over-optimistic interpretation of information.
"As a result, governors and leaders take insufficiently prompt action to address weaknesses."
The report also said the recording of actions taken following safeguarding incidents and the proportion of learners in business, health and social care, and sport could be improved.
Principal Phil Rumsey said “I’m pleased that Ofsted have identified a number of our key strengths.
"The continued success of our college is down to our talented staff, fantastic students, supportive parents and dedicated governors.
"It is a team effort that ensures we continue to achieve some of the best results in the country and secure ambitious destinations for our students, many of whom travel a long way to be with us.”
Last summer the college achieved a 99.5 per cent pass rate with 71 per cent High Grades, and was in the top quarter in the country for student progress.
It was also the first college in the country to be awarded the Quality in Careers Standard, which it received in June.
It continues to be the best sixth form provider in the area with the majority of its students progressing to university each year and going on to enjoy successful careers.