Company number: 2659703
Charity number: 1006726
Alderley Edge School for Girls
(A Charitable Company Limited by Guarantee)
REPORT AND Accouwrs
(CONSOLIDATED wrrH AESG DEVELOPMENfs LIMITED)
For the year ended 31 August 2020

Alderley Edge School for Girls
For the year ended 31 August 2020
cowrENrs
Page
School information
Governors, Report and Strategie Report
Statement of Governors, responsibilities
Independent Au(litors' report to the Governors,
Consolidated Statement of financial actiTrities
io
13
CollLpany Statement of financial activities
Consolidated balance sheet
14
15
Company balall￿ sheet
Consolidated eash flow statement
AccountttLg policies
Notes to tbe accounts
22

Alderley Edge School for Girls
SCHOOL INFORMATION
DIREcfoRS, GOVERNORS &TRUSTEES
The present directors of the companyi who are also chaTitytrustw and school governors, and also
ny ex-direetors who served during the year, are as follows:
Mrs A S Herring (chaiman)
Dr R Nolan
Mr E P RAinsworth- retired 3lStAusust 2019
Mr G Bryant
The Rev(L Canon B Clover
Ms K Doyle
Mr K R Lowe (Ifice Chairman)
Mrs C I￿)we
Mrs J Rostron
Mrs'l. Pollard
Proviiicial Superior J Arr<)wsmith - TesigThed li December 2019
Mrs R Priee- appointed 5 Februi]ry 2020
Mrs D Summerfieia
Mr C Trucma
BURSARAND CLERK TO THE GOVERNORS
Mr S J Malkin
HEADMISTRESS
Mrs H Jeys
Mrs H Jeys resigned to take up a similar post in another school, with effect from 31 August 2020.
Mrs N Smillie h&s been appointed as HeadmisLress, with effect from i September 2020.
The Headmistres8 and Bursar are considered to bc the Seliool's key management personnel.
Their remuneration is set annually by the Chaii. of Governors and Chair of the Finance Committee.
Page 1

Alderley Edge School for Girls
SCHOOL INFORIVIATION (continued)
COMPANY NUMBER
2659703
CHARrrY NUMBER
1006726
REGISTERED OFFICE AND PRINCIPAL OFFICE
Wilmslow Road
Alderley FAge
Cheshire
SK9 7QE
BANKERS
Royal Bank of Seotland ple
38 Mosley Street
Manchester
M60 2BE
AUDITORS
Crowe U.K. LLP
TFie IExieon
Mount Street
Manchester
M2 5Nr
Page 2

Alderley Edge School for Girls
SCHOOL INFORMATION (continued)
GOVERNtNG SUB COMMrrrEES
Appeal Committee
Mrs A S Herring (Chairn]an)
Mr K R IK>we
Dr RNolan
Currieulum Committee
Mr8 T Pollard (Chairman)
Mrs A S Herring
MTS C IL>we
r*Trs J Rostron
Mr C Truernan
Finance and Premises Committee
MT C Trueman (ChaÈTman)
MT G Bryant
Mrs A S'Herring
MrKRLowe
DT R Nolalll
Marketing and Development Commlttee
Mr K R Lowe (Chainnan)
Mrs J Rostron
Mrs D Sutnn]erfield
Page 3

Alderley Edge School for Girls
GOVERNORS, REPORT and STL4TEGIC REPORT
The governors have pleasure in pr&senting their annual rep)rt for the year ended 31 August 2020
under the Companies Aet 2006 and the ChaTlties Act 2011, together with the audited financial
statements for the year, and eonfinn that the latter comply with the i'equirements of the Companies
Act 2006, FRS102 and the Charities SORP 2015.
GOVERNORS. REPORT
REFERENCE & ADMINIsfiL4TIVE INFORThL4TION
The Sebool is a registered charity and was incorporated in 1991 as a company limited by guarantee,
with the liability of its members limlted to £1 eaeb.
The Registered Charity number 1$ 1006726 and Company number is 2659703.
Tbe PTincipal addr&ss / registered office is stated on page 2.
Governors
The governors, who are also directors of the company And trustees of the charity. &re listed on page i.
Governors are appointr.d by the Bnard of CTovcrnors.
Keypersonnel ￿la professional advisers
The key personllel and professional advisers of the Sehool are listed on pages i & 2.
srRUCTURE. GOVERNANCE AND MANAGEMEwr
Governing document
The School is governed by its Memorandum and Articles of Association, last amended on 7 Juty 2005.
Trustee training
New governors are introduc£d to theworkings of the Sehool, the a)mpRny and Charityat an induction
nieeting arranged by the Chairman of Governors, the Hea¢lmistress and the Bursar. Copies of
appropriate documpnLs are prnvided, 88 iq on-going training for all governors.
Organisational management
The Governing Body nleets at least three times each year, and deterniitLes the general policy of the
school. The day lo day management of the school is delesated to the Headmistress and the Bursar.
Group structure and relationships
The School has a wholly OWTAed nojj-charitable trading company subsidiary, ￿E1.s.G. Developments
timited. This tTading subsidiary runs the School Uniforni shop, and its results are CODsolidated with
those of the School.
Mount Carmel and St Hilatys Schools merged with effect frorn September 1999 and became Alderley
Edge Sehool foT Girls. St Hilary's School was part of WoodaTd Schools (Mi(llAnd Divi8inn) Lin)ited
and Mount Cannel was fnundcd by The Sisters of St Joseph. The Sc.hooi's continued association with
these two eharitable organisations forn]s tile basis of its ecumenieal ethos.
The Sehool is also an active member of the follo￿ng.
I.S.C. The Independent Schools Council.
G.SJi The Girls, School Association.
J.I.S. The knociation of Junior Independent Schools.
I.s.￿ The Independent Schools Assoeiation.
A.G.B.l.S. The Association of Governing Bodies of Independent Schools.
I.S.B.L The Iiidependent Schools, BursaTS Association.
Page 4

Alderley Edge School for Girls
GOVERNORS, REPORT and STRATEGIC REPORT (continued)
STRATEGIC REPORT
OBJECTIVES AND AcrIwrrIES
The principal activity continued to be the operation of an independent day sehool for girls.
Aims of the School
We are an aeademic school, and we aim to ensure that every girl is a diligent and confident learner
who achieves her full academic potential. Our broad, rich and balanced cu￿leu1￿n7 n]axin]ises
opportunities for the girls to excel, with excellent teaehing and high expectations in the
e12ssroom. Close monitoring and regular assessments, combined with knO￿llng each girl as an
indiTridual, ensure that sbe is stretched, ehallenged and motivated to succeed. By providing a
stimulating. clkillenging and exciting learning environment we aim to develop independent learners
with inquiiing minds, a thirst for laiowled8e and passion for lifelong learning.
We proNide an enrichmentprogramn)ewhich offers a huge range of opportunities for girls to achieve
outside the classroom. Whether it be thTough sport, n]usie, drdma, public speakingj subjeLt spec'ific
aetivities, Duke nf FAlinburgh or Community Scrriee, giTls Can - and do - succeed. Gills develop
I￿pOrtant skills for life andbecome interested, aware and empathetifj showing a genuine coTh￿rn for
others and are keen to do all they can to make this a better world, both loeally and globally.
We are proud of our Chrislian foundation which eneourag&s girls to explore their spirituality, Mrythin
a supportii'e, open and aecepting eniironment. We are a Christian sehool and happily weleome others
who share our values. We aim to ensure that all gir]s develop empathy for others and a strong moral
compass based on Christian prineiples. Our supportive, pro-aetive pastoral care ensures tbat girls feel
theybelong to the school Community and treat others fvith respect.
Our diIll 18 to educale girls aged 2 to 18 within a positive, empoweTing enNryronrnent which encourages
them to think creatively, high and play ￿ aLttive part within ihe %chool cotntnunity. We lue ilie
itnportance ol an all-girls. education and all the benefits this brings them. There are numerous
opportunities for girls to devp.lap hnth team wnrking and Icadership skilLs andtn lielp gllide the sehool
and their peers forward. In this way they learn important life skills which prepare them for the world
of work and they leave us as impressive young women who make a difference.
Objectives for the year
This year has seen us build on the recent academie 8ueeesses of the School and sustain our high
academic expectations of all our pupils so that they achiei'e their potential. Mentorin% opportunities
and foeusing on a variety of teaching and learning strategie5 have enabled staff to build on sueh
academic succ&gs. For instance, for the second year Tunningj the Sehool has achieved results which
have placed it in the top 5% of sCh￿IS i￿tiOnallY for progress between the ages of 16 and 18. Foeus
on retrieval techiiiques in Order to enhance Tevision skills and the development of strategies which
focus on key characteristies so important for learning, sueh as resilienee and eollaboration, have seen
the Scbool develop a learner Profile for full implementation from September 2020. Our commith]ent
to proiqding a holistic education eontinues withtbe focus on aeademie suecess but, also, the individual
happineys aDd nurLuring of each individual child so that they feel valued Mrythin our School
eommunity. Furthermore. we continue to build on our alurnnae links and weleome past members of
our community into school regulaTly to talk to current pupils about their careers. We are delighted
that sueh links have grown over recent years, particularly Since this year marks the 21st Birthday of
the School.
The School continues to excel in sport aeross all ages and we have enjoyed considerable success in
cross eountry> netball and hoekey in particular. We aim to eater for pupils, interests outside the
classroom as far as possible and this year has seen new sporting Clubs such as basketb&ll as well as the
development of those already existing, including trampolining. dimbing and badminton.
Page 5

Alderley Edge School for Girls
GOVERNORS. REPORT and STRATEGIC REPORT (continued)
The School continues to support local and national charities and sustains its eornmitment as far as
possible, to providing bursaries so that sufficiently able pupils are able to join the school when their
farnilies do not have the financial means to their place. We have also started our first capital
fundraising projert this year which has focused on refurbishing both Junior and Senior libraries. Not
only does this project aim to Tefiect the high value we place on reading but we a]so aim to provide a
modern space in which pupils can worL reseaTch and furtbeT their love of learning.
Our examination results continue to improve and our value added is a very impressive aspect of our
sehool success. For A level, our results in the summer 2020 examinations despite the current
pandemic and its impact on teaching amd le￿nIng, continuedto reflectthe suecesses of previousyeaTS,
with 35% of our pupils aehieving a elean Sweep of at least 3 A grades and 72% of grades at A'_B, a well-
deseTh'ed achieven]ent that reflects their commitment and dedication to their studies over the two
years. For GCSE examinations, almost 57% of grades awarded are at the very highest grades of 7-9
ana over 99°A ot all grades were at grade 4 or above and sirtually 18% of gradeb at tbe highest grade 9.
The School is very proud of its exam cohorts, in the character sbown when they were unable to take
their final examinations in the way theywould have wanted afterwoTking so hard. We l(now that they
will all go on to achieve Success ID their ￿tllre.
FINANCLIL REVIEW AND RESULTS FOR THE YEAR
The group's net outgoing resourees for the year amounted to £124,OT7 (2019 net outgoing: £78,591).
Pupil numbers declined in the 2019-20 academic year, ￿la the resulting decrease in incorne led lo a
TeKew of expendiknre in a number of operational areas. including staffing? all of which euntributed to
the net outgoings result for the year. The combinalion of multiple years of net outgoings has had a
detriniental impact upon reserves, but fillther steps are being taken in 2020-21 to address tbe net
outgoings.
The School h&8 invested just under £iio.000 in fixed a&8ets in the year and this, in conjunction with a
Teduetion of just under £150.000 in creditorbalances and an liLLrea￿e of just over £160,ovo in debtor
balances from the previous year elld, as well Lontinuing loan repayments, has led to casb flnw
presbures and reduced Lash balances held. The repayment of the School's long-tenn loan, scheduled
for October 2020, will, however, have a positive impact on future cash flows.
The group results for the year are detailed on page ￿.
The School bad no ￿ndraising activities requiring diselosure llnder $162A of the Charities Aet 2011.
Expenditure for tbe year includes £26,734 paid under a selllement (weement to a member of staff.
Details of the Scbool's fimds and an analysis of the School's net a&sets between the funds are given in
note 12.
Restrieted fiinds of £iio,081 are held for use on capital PTojecL4, ineroa.qing the Bursary Fund and
other small projects designated by thc donor, and a further £80,000 is held re capital items proTrryded
by W(KJdard Schools (Midland Disqsion) Limited. at the time of merger.
Endowed Funds of £29,945 were previously held by St Hilarfs School before its merger with Mount
Carmel Sebool and the subsequent fonnation of Alderley Edge School for Girlg. Tbe permitted use of
the income from these funds is in accordance with the wishes of the original donors, belng mainly the
awarding of prizes and bursaries.
Designated ￿ndS of £550,000 are to be used for the significant improvement of the sports facilities.
The remaining unrestricted fimds of £5,634,6D are requiredto eovertheworking eapital of the School
and to maintain the buildings to the bigh standards expected of a School of this standing.
The Governors eontinue to monitor the level of tbe various categories of ￿llaS in order to ensure that
they are adequate to tneet the charitable objectives of the School. Free reserves {calculated as
unrestricted reserves less fixed assets) are £(88,379). (2019: £(41,810). Free reserves totalling
£250,000 are considered to be a suitable target by the GovernoTS.
Page 6

Alderley Edge School for Girls
GOVERNORS, REPORT and STRATEGIC REPORT (continued)
However, cash regerves are £629,645 (2019.. £934,491). Governors have therefore agreed to place on
hold tbe planned further development of sports facilities on the site. until cash balances hai'e
improved. Governors would wish to retain a cash reserve of £1 million, in OTdeT to meet any potential
ture liabilities and to continue to operate effieiently. Governors Mill eontinue to monitor both the
level of these reserves and the amount deemed sufficient on an annual basis.
The main objective for the future remains the maintiining of the high standard of education offered
at the School.
In order to assist with this main objective, significant inv&8tment has been made in the faeilities
provided, including major upgrading of .qporLs facilities. over the last two years. A period of
consolidation, but whilst still retaining Tefurt)ishn]ent projects undertaken during the Sehool summer
holiday period, hryll now be undertakeR].
The School will also welcome a new Headmistress, Nicola Smillie, who will join the School on 1st
September 2020.
PUBIJC BENEFIT
Alderley Edge Sehool for Girls is committed to the aim of provi(lillg public benefit, and the t￿￿teeS
have considered the Charity Commission's published guidance on public benefit.
The School a￿allgeS and takes part in many aetivities that provide benefit to the local community.
These artivities range from making.8ehnnl faeilitios available to other loeal Schools, to pupils visiting
local eare homes, to in￿ting local residents to attend pllpil music and drama perform&nces. The ft]11
list of these activities is recorded in a register mailltained by the Sebool.
SLliularbEiips and bursaries are offered at the diseretion of the GoveTning Bodytr based on academic
exeellence, ￿edIL5 testing for Bur¥ary dwards, and uIi Lhe ui1goii￿ ability o( the Schuul Lo fund Lhese
awards.
The School awards means tested bursaries to pupils who would not otherwise be able to afford tbe
school fees. The systems used to evaluate the means testing are reviewed continually andwill continue
to be developed as necessary.
During the year, the School awarded bursaries, scholarsbips and discounts totalltng £654,656 (2019..
£557,196}. Thi5 figure ineludes tneans tested bursary awards.
RISK MANAGEMENT
The Governing Body has ultimate responsibility for managing riskfaced bythe School.
The Governors continue to examine the principal areas of the school's operation and consider the
major risks identified in each of these areas. The risk managernent process identifies risks. assesses
their itnpact and lik-elihood and, where necessary, recommends controls to mitigate and monitorthose
risks that are assessed as high.
Inthe opinioll of the GovernoTS, the school has established resources and review systems which, under
normal conditions, should allow these risks to be managed to an acceptable level in its day to day
operations.
Principal risks and uncertainties
The Governing Body had considered the economie uncertainty and the ongoing recession to I￿ tlie
most significant cause for eoncern. However. the global coronavirus pandemic, Commencing early in
2020 has supplanted that. Schools were close(L nationally) in March 2020 and only re-opened Rn the
2019-20 academie year, for certain year groups only> and for ehildren of key workers. LEssons for
pupils continued via online provision using a raLigeof software and allowedtheoriginal dailytimetable
to eontinue on a vlrtual basis.
Page 7

Alderley Edge School for Girls
GOVERNORS, REPORT and STRATEGIC REPORT (continued)
The School provided 80% rebates on summer fees for nursery and pre-sehool fees and provided
rebates to other pupibbasedupgn savings identified from the redueed opeTational levels of the School
during this period (including the Mrloughing of some support stalT). Fee illCTeases for the 2020-21
aeademicyearwere also delayeduntil January 2021. The pandeinic, its impaet ontbe economy. as well
as otlier factOTS, led governors to anticipate a Teduction in pupil roll, and subsequent level of fee
income in the 2020-￿ academic year.
However, fee income was largelypTOtected in the 2019-20 aeadernie year. Governors met in March 20
to eonsider the appropriateness of going concern as the basis of preparation of these And future
financial stateinents. Governors prepared and examined a number of possible scenarios that co￿81der
our cash positioll, sources of inLome and planned expenditure. This indude5 the impact of eoronavirns
on operations, together i*ith assumptions around reeovery thereafter. These soenarios collsider
rpdiieed pllpil numbers. delayed fee pas4nents, redueed fees and potential bad debts, as well as the
impact on eosts from the measllres taken so faT. Sensitivity around these assumptions has also been
considered in our forecasting. Perforn]ance against the budget for 20-21 and the impact on the 2021-
22 budget were also considered. The results of this scenario plauning and a￿lYSIS indicate that the
cash reserves of the School are ddequate to meet it's ongoing obligations as they fall due and the
governors believe it appropriate to &dopt the soins concern basis of aeeounting in preparing these
financial statements.
Health and Safety in all Schools is always a significant area for riskmanagement. The risks range from
buildings and infrastnlcture risk through to personal risk. 'Ihe level and breadth of acLivities Mrythin
the School is enornious and the risks assl￿1atedHryth all activities are minimised throughplanning and
risk assessment.
STATEME￿ AS TO DTSCLOSUE£ OF INFOBMiTION TO AUDITORS
The directors at the time when this Director's report is approved have confinned thal:
so far as the'direetors are aware, there is no relevant audit information of whieb the companVs
auditors are unaware, and
they have taken all the Steps that ought to have been taken as a (lirector in order to be aware of
any information needed by the company's auditors in eonnectioll with preparing their report
and to esiablisb that the company's auditors are aware ol that information.
AUDITORS
Crowe u.tc LLP bas expressed its willitigness to be reappointed as stakntory auditor.
This Teport, which ineorporates the Strategic Report, was approved by the Board of Governors on 26
May 2021:
S l Malkin
Secretary
P.f . Mrs AS Herring
Chair of Governors
Alderley Edge School foT Girls
Wilmslow Road
Alderley Edge
Cheshire
SK9 7QE
P8ge 8

Alderley Edge School for Girls
STATEMEwf OF GOVERNORS. RESPONSIBILITIES
The goverjjors are responsible for preparing the Governors, Report & Strategie Report and the
financial statements in accordance with applicable law and Tewlations.
Company law requires the governor8 to prepare financial statements for each financial year. Under
that law the governors haire elected to prepare the financial statements in accordanee with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Aceountillg Standards) and
applicable law.
Under eompany law the governors must not appi'ove the financial statements unless they are satisfjed
that theygive a trne and fairvieiy of the state of affairs of the eompany and the group and of the profit
orlosB of the group forthat period. In preparing the8e financial statements, the governors are required
to:
select suitable accounting policie$ and then apply them consistentlyj
make judgments aIid accounlirE estimaies Lhal are reasonable dnd prudent"
statewhether applicable UKAecounting Standards havebeen followed, subjectto any material
departures disclosed and explained in the financial statements"
prepare the financial statements on the going eoneern basis unless it is inappropriate to
piesume that the company will continue in bu5illess.
The governor8 are resrM)n8ible for kepping adequate aceaunting re.cords that are suffieient to show and
explain the Company and gTOUP'S transartions and disclose Thuth reasollable accuracy at any time the
financial position of the company and group and enable them to ensure that the financial statements
con]ply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
company and group and hence for taking reasonable steps for Llie prevenLioll and detection of fraud
and otbeT irregularities.
Mrs AS Herring
Chair of Governors
Alderley Edge School for Girls
Wiln]slow Road
Alderley Ei dge
Cheshire
SK9 7QE
Approved by the Board of Governors on 26 May 2021.
Page 9

Alderley Edge School for Girls
INDEPENDENT AUDITORS. REPORTTO THE GOVERNORS,
FOR THE YEAR ENDED 31 AUGU￿ 2020
Opinion
We have audited the finaneial statements of Alderley Edge School for Girls for the yeaE ended 31
August 2020 which comprise the Consolidated and School StateEnent of Financial Aetiiryties, the
)nsolidated and Sehool Balance Sheets and the Consolidated Cash Flow Statement and llot￿ to the
financial statements, including a summary of significant accouuting policies. The finaneial reporting
framework that has been applied in their prepdTdtiun is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard
applieable in the UK and Republie of Ireland (Uiiited Kingdom Generally Aeeepted Accounting
Practice).
In ollr opinion the financial statements:
give a true and fair view of the state of the group's and the charitable eompany's affairs as at
31 Augllst 2020 and of tbe group's income and expenditure, for the year then ended,.
have been properly Prepared in accordall￿ with Ullited Kingdom Generally Accepted
Accounting Practice. and
have been prepared in accordance with the requirements of the Companies 2006.
BasAS fi)r opinion
We conducted our audit in aceordanee with International Standards on Audilivig IUK) (ISAS (UK))
and applicable law. OUT responsibilities under those standards are further described in the Auditor's
responbibilities for the audit of the finanLllal statements seetion of our report. We are independent nf
the charitable Company in aecordance Mryth the ethieal requIre￿ents that are rcle.vant to oiir alldit of
the financial statenients in the UK, including the FRC'S Fthical Standard, and we have fulfilled our
other cthieal responsibilities in aeeordanee with these requirements. We believe that the audit
eNiaenee we have obtained is sufficient and appropriate to PTovide a basis for our opinion.
Conclusions relatin% to going concern
We have nothingto reportin respect of the followingmattersin relationto which the ISAS (UK) require
us to report to you where..
the goveTnOfS' use of the goins eoneem basis of aecounting in the preparation of the financial
statements is not appropriate; OT
the governoTS have not diselosed in the financial statements any identified mateTial uncertainties
that may cast significant doubt about the charitable COmPdIly'S abi]ity to continue to adopt the
guing concerD bastb of aLCOUntin¥ fur a period of at least twelve months from thc date when the
financial statements are authoriseil foT Issue.
Page 10

Alderley Edge School for Girls
INDEPENDENT AUDITORS, REPORT TO THE GOVERNORS.
FOR THE ENDED 31AUGUST 2020
Other iDformation
The governoTS are responsible foT the other information. The other infonnation comprises the
infornlation include(l in the annual report, otherthan the financittl statements andour auditor's report
thereon. Our opinion on the financial statements does not cover the other infonnation and. except to
the extent otherwise explicitly statedin ourreport, we do not L￿reSS anyform of assurance conclusion
thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
infoiination and, ID doing so, eonsider whether tbe other information is materially ineonsistent with
the financial statements or our knowledge obtsined in the audit or otherwise appears to be materially
misstaled. If we identify sudi Inaterial incO￿S1S1enc1eS or apparent material tnisstdtements, we are
required to determine whether there is a material misstatement in the financial statements OT a
Inclterial niisstatement of the other information. If, blc sed on the workwe have pe.rformed, we eonclude
that there is a material misstatement of this other infonnation, we aTe required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescrAbed bythe Companies Act 2006
In our opinionbased on the work undertaken in the eourse of OUT audit
the information given in the Annual Report of the Goverllors and Strategic Report for the
financial year for wbioh the financial statements are prepared is eonsi8tent with the financial
statements; and
the ￿lnual Report of the Governors and Strategie Report have been prepared in accordance
with applieable legal requirements.
Matters on whleh we Are requlred to report by exception
In light of the knowledse and understarAding of the company and its enTriroument obtsined in the
COIITse of the audit, we have not identified materi81 misstatements in tbe Annual Report of the
Governors and Strategic Report.
We have nothing to report in respect of the following matters in relation to which the Companies Aet
2006 requires us to reportto you if, in our opinion:
the parent charitable eompany has not kept adequate accounting recor￿. or
the parent charitable company financial statements are not in agreement Mith the aeeounting
reeords and re￿r￿s,. or
certain disclosures of tru8tees' remuneration speeifiedby Eaw are not Made. or
we have not received all the information and explanations we require for OUT audit.
Page11

Alderley Edge School for Girls
INDEPENDEFrrAUDITORS' REPORT TO THE GOVERNORS,
FOR THE YEAR ENDED 31 AUGUST 2020
Responsibilities of governors
As explained more fully in the governors. responsibilities statement set out on page 9, the governors
are responsible for the preparation of the fU￿]ela1 statements and for being satisfied that they give a
true and fair iryeiv, and for slleh internal Control as the governors deterrnine is The￿Sary to enable the
preparation of financial statements that are free from material misstatenient, wkLether due to fraud or
error.
In preparing the financial statements, the soveTlloTS are responsible for assessing the charitable
CoMpan￿S abi]ity to continue as a going coneem, diselosingy as applicable, Ulatt￿'S related to guing
eoneern and using the going concern basis of aeeounliilg uiiless the trubtee8 either intend to liquidate
the charitable Company or to cease operations, or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole
are free from material misstatement. whethe.r due tn fraiid or error, and to issue an auditor's report
that includes our opinion. Reasonable a&suran¢e is a high level of assurance, but is not a guarantee
that an audit eondueted inaccordancewith 1&4s (UK) Mryll always deteet a ￿￿terIal mis8tatementwhen
it exists.
Misstatements can arise from fraud or error and are considered material if. individually or in the
aggregate, they Luuia reasonably be expecled to influence the economie deeisions of userstaken on the
basis of these financial Statements.
A ￿rther description of our responsibilities for the audit of the financial statements is located on the
Financial Re￿rtIllg Council's M'ebsite ut: wsfyw.fr
ies. This description
fonDs part of our auditor'8 report
Use of our report
This report ify tnade sulelytu ihe Lharitable L()tnpan¢b n]embers, as a body* in accordancewith Chapter
3 of Part 16 of the Coinpanies Aet 2006. Our audit iyork has been undertaken so that wc inight state
to the charitable company's n]en]bers those matteTS we are required to state to them in an auditOT'S
re.port and for nn other purw8c. To the fiille.st e.xtent permitted by law, we do not accept or assutne
responsibility to arAyone otherthan the charitable company and the companrfs members as a body, for
our alldit work. for this report, or for the opinions we have formed
Vieky Szulist
Senior StaMtoryAudAtor
For and on behalf of
Crowe U.K. LLP
StatutoryAuditor
The Lexicon
Mount Street
Manchester
M2 5Nr
27th May202I
Page 12

Alderley Edge School for Girls
CONSOLIDATED STATEMENf OF FINANCIALACTIvrrIES
(INCORPOIL4TING INCOMEAND EXPENDITURE ACCOUNT)
for the year ended 31 August 2020
Restricted
Funds
Endowed
Funds
Unrestricted
Fund5
Total
2020
Total
2019
Note
COMtNO RESOUKCES
Charltsble aCti￿tieS
Sehool fees
Other ancillary income
5,030,682
29,665
5,030,682
29,565
5,1841097
75.907
Ic
OtheT trading aetimties
Activities fur 8enerdliiig funds
Othp.r at.tiTritie_
Goven)mellt grant ￿nCOme
La
39,402
72,287
129,739
71,Sts7
111.689
129,739
71,507
135,661
45,8
Investments
Investment incozne
3,L49
3,149
4,673
TOTAL tNCOMING
RFSOURCES
39.402
5.336.929
5,376,331
5,446,209
Raisingfunds
Tr&ding costs of the subsidiary
FlliidtXiSlllR Costs
FiTwi¢ing costs
61.205
7,505
3,541
61,2()S
7,.505
3,541
72,169
LS,875
4.724
72,251
72,251
92.768
Charitable acti￿tieS-
Sthool operating c08t
Teacbing costs
Welfare
Prcmises
Support and governanee
2,436
3.606.377
373,L17
558.747
887,480
3.608,8
373,117
558,747
887,480
3,6(J3,166
44U,748
523,207
864,911
2,436
5,425,721
5>428,157
&432,032
TOTAL RFSOUKCES
EXPENDED
2,436
5,497,972
5,500,408
FundBalallces
At I September 2019
153,114
29,647
6,346,011
6,528,772
6,6071363
Net Inw]ning Resourees
Transfers between Fund8
36,966
{161,0431
(2981
(124,077)
298
FUND BALINCES
AT 31 AUGUST 2020
190.080
29,945
6,184,670
6AO4,695
The school has no recognised gains orlosses other than its Surp1￿ for the year. All actI￿tieS in the year are
classed as contiThuillg.
The notes on pages 22 to 40 form part of these aceounts.
Page13

Alderley Edge School for Girls
COMPANW STATEMEwf OF FINANc￿L AcrIvrriES
(INCORPORATING INCOME AND EXPENDITUREACCOUNT)
for the year ended 31 August 2020
Restricted
Funds
Endowed Unrestrirted
Funds
Funds
Total
2020
Total
2019
Note
INCOMING RESOURCFS
Charitable ActI￿tieS
School fe&
Other aneillaryincome
Lb
5,030,683
29.565
5,030,683
29,565
5,184,097
75.907
Ic
Other tra(ilng Acti￿lIeS
Activities for generatiiigfunds
her acti￿lIeS
Govern]nent grant ineome
39A02
7,683
137.918
71,507
47,085
137,918
71,507
55,313
49.293
InTre$inients
Inv&stment income
3,149
3,149
4,673
TOTAL INCOMING
RFSOURCFS
39A02
5,280506
5,319,908
5,369,283
Ra￿]ngfunds
Fuudrai5ihg costs
Financing coqts
7,505
3,541
7,505
3,541
15,875
11,046
11,046
20599
Charitable aCtI￿tle$-
School Dperatiiig eosts
Teaching costs
Wclfare
2,436
3,608,813
373,117
rs8,747
887A80
3,603,166
440,748
523.207
864,911
373.117
558,747
887,480
Pre￿￿11*￿s
Support and governallce
2A36
5A25,721
5,428,157
5,432,032
T(YTAI. RFSOURCES
2,436
5,436,767
S,439,203
5,452,631
Fund Bdldt]ces
At I September 2019
153,14
29,647
6,333.959
6,516,720
6,600,068
Net IncomEng Resourtts
TransferB between Funds
36,966
(156,262)
1298)
(119,296)
AT 31 AUGusf 2020
190.080
29,945
6>177,400
6,397,425
The school has no recognised gains or1055es other than its net result for the year. All aetivitses in the year
are classed as continuing.
The notes on pages 22 to 40 form part of these accounts.
Page 14

Alderley Edge School for Girls
CONSOLIDATED BALANCE SHEET
31 August 2020
Company Registration No: 2659703
2020
2019
Note
FIXEI D ASSETS
'I'angible fixed assets
6,273,050
6,421,556
CURREwf AssErs
Stock- Finished goods
Debtors
Cash at bank and in band
48,999
380,532
629,645
53,307
219,072
934A91
1,059,176
1,206,870
CREDITORS: Amounts falling
due
Mqthin one year
io
(927,531)
(1,099,654)
NET CtJRRENT ASSETS
131,645
107,216
TOTAL ASSETS IESS CURREwr
J.IABII.ITIES
6,404,695
6,528,772
CREDITORS: Amounts falling
due
after more than one year
li
(o)
(o)
TOTAL NET AssErs
6.404,695
6,528,772
Unrestrieted funds:
General funds
Designated ￿lld5
Restricted funds
Endowed fundb.
12a
12b
12C
12d
5,634,670
550.000
190,080
29,945
5,796,011
550,000
153,114
29,647
6,404,695
6,528,772
The financial statements were approved and authorised for issue by the Board of Governors on
26th May 2021
Mr C Trueman
Chair of Finance Committee
MTS AS Herring
Chair of Governors
The notes on pages 22 to 40 form part of these aeeollnts.
Page 15

Alderley Edge School for Girls
COMPANY BAL4NCJ£ SHEET
31 August 2020
Company Registration No: 2659703
2020
2019
Note
FIXED ASSETS
Tangihle fixed a&sets
6.273,050
6.421.556
CURFE￿ ASSETS
Debtors
Cash at bank and in hand
Stocks
436,099
602,421
7.070
258,752
922,949
8,250
1,045,590
1,189,951
CREDrroRS: Amounts falling
due witbin one year
io
(921,215)
(1,094,787)
NET cURRE￿AsSETs
124,375
95,164
TOTAL ASSETS LESS CURRENr
LLABILI'I'IFS
6.397,425
6,516,720
CREDITORS: Amount¥ falling
due atter moTe tban one year
li
(o)
(o)
TOTAL NET ASSETS
6,397,425
6,516.720
Unrestricted ￿nds.
C)ene.ral ftmds
Designated ￿ndS
RestriLted luThds
Endowed funds
12a
12b
12C
12d
5,627,400
550,000
190,080
29,945
5,783,959
550.000
153,114
29,647
6,397,425
6,516.720
The financial statements were approved and authorised for I￿Ue by the Board irf Governors on
26th May 2021
Mr C Trueman
Chair of Finance Committee
MTS AS Herring
Chair of Governors
The notes on pages 22 to 40 form part of these accounts.
Page 16

Alderley Edge School for Girls
CONSOLIDATED CASHFLOW STATEMEwr
for the year ended 31 August 2020
Note
2020
2019
NET CASH (oufFLOW) FROM
OPEIL4TIONS
(175,448)
387,974
CASH FLOWS FROM tNVFSTING
ACtIvrriES
Interest received
Interest paid
Payments to acquire tangible fjxed assets
3,149
(608)
(108,570)
4,673
(1,915)
(395,3Ji)
NET CASH USED BY INVESTING
AcrtVlTIES
(106,029)
(392,431)
CASH FIDWS FROM FINANCtKG
I￿all repaiqnents made
(23,369)
(140,004)
F.QuTVA￿rS IN THE YEAR
(304,846)
(144,461)
CASH AND CASH EQUIVALENTS
AT START OF THE PEIUOD
934,491
1,078,952
CASH AND CASH EQUIVALENrs
AT THE END OF THE PERIOD
629,645
934A91
Reconciliation of net loutsoing) resources to net cash outllow from opeT&ting activities:
2020
2019
Net (outgoing) resources
Depreciation
Interest receivable
Interest payable
Decrease in stock
(IncTease) in debtOTS
(Decrease) in creditors
(124,077)
257.D76
(3,149)
608
4.308
(161,460)
(148,754)
(78,591)
234,318
(4,673)
1,793
(9,508)
9,796
234,839
Net cash (oufflow) from operating aetiwties
(175,448)
387,974
Page 17

Alderley Edge School for Girls
CONSOLIDATED CASHFLOW STATEMEwr (coNriNUED)
for the year ended 31 August 2020
bj
Analysis of cbanges in net cash resources
2020
2019
Cash at Bank
629,645
934A91
629.645
934,491
The notes on pages 22 to 38 form part of these accounts.
Page 18

Alderley Edge School for Girls
ACCOUNTING POLICIES
for the year ended 31 August 2020
BASIS OF PREPARATION
The financial statements have been prepared in accordanee the Financial Reporting Standard
applie.2ble in the UK and Republie of Ireland (FRS102), the Companies Aet 2006 and the Statement
of Re¢ornmended Practice applicable to charities preparing their aecounts in aceordanee with the
Financial Reportins Standard applicable in the UK and Republic of Ireland (FRS 102) effective i
January 2015.
The fi￿ctIOnal euneney of the School is eonsidered to be GBP beeause that is the eurreney of the
primary economic enmronment in which the School operates.
The accounts are drawn up on the historical cost basis of accounting.
The School is a Publie Benefit Entity registered as & eharity in England and Wales and a company
limited by guarantee. It was incoTporated on 1st November 1991 (company number.. 265970.3) and
registered as a charity on 6th Decem1￿r 1991 (tharity number: 1006726). DetaiL8 of the Sehool's
registered Offi￿ can be found on page 2.
The Sehool ha8 been affeetedbythe global eoronawrus pandemic, but, as noted inthe Strategie Report,
steps were taken to mitigate the itnpact of this unexpected event. Overall the govern(JTS Teinain
confident that the Sehool has suffie.ient re.soiirep.s to eontinup as a going eoneern and consider that
there were no material uneertainti&s over the School's financial viability.
BASIS OF CONSOUDATION
The aceounts havebeen eunsolidatea on a line by line basis to indude the Sehool's wholly owned non-
charitable trading company subsidiary, A.E.S.G. Developments Limited.
The School hhs taken advantage of the exemption available to a qualifying entity in FRS 102 from the
Tequiren]ent to present a charityonly Cash now Statement with the consolidatedfinancial statements.
DEPRECIATION
Depreciation is provided in order to write off each asset, less its estimated residual value, over tbeir
useful lives at the fullomryng rates-
Building8
straight line
Building improvements
straight line
Plant and equipment
20%
straight line
Fixtures and fittings
20%
straight line
Computer equipinent
20% - 33'1s% straight line
Capital items costing less than £250 are written off as an expense as acquired.
srocKS
Stocks are valued attbe lower of cost and net Tealisable value, after making due allowance for obsolete
and slow moving items.
IEASES
Where assets are financed by leasing agreements that give rights apprnximating to ownersbip
("finance lease"), the assets are treated as if they had been purchased outright. The amount capitalised
is the present value of the lease payments payable during the leaseterm. The eorresponding
leasing eornmitments are shown as obligations to the lessor.
Page 19

Alderley Edge School for Girls
AccouNfING POLICIES
for the year ended 31 August 2019
I￿Se payments are treated as consisting of eapital and interest elements, and the interest is charged
to the PTofit and loss account in proportion to the rernaining balance outstanding. All other leases are
"operatRng leases" and the annual iEntsls are charged to PTofit and1056 on a straight linebasis over the
term of the lease.
INCOME
Ineome from School Fees represents fees earned in respect of tuition given during the year. Fees
reeeiiTed in respect of tuition to bp. given after the year end are included in creditors as fees receiiTed in
advance. Fe&s receivable are slated after deducting bursAries and scholarships granted by the school.
Scholarships and bursaries are awarded at the diseTetion of the Governing Body. based on academie
excellence in the case of SeholaTship awards, and are means testedfor BuTsary awards.
Other inoome, including legaeies and donations, is accounted for as and when entitlement arises, the
amount can be rcliably qu￿ltIfica and the economie benefit to the School is considered pr￿babIe..
Iegaeies received in the form of property are credited at the lower of probate ana market Trlue.
Income from government grants is recogui5edwhentbeie is entitlementtothe funds, anyperformanee
conditions attached to the grants have been met, it is probable that the income will be Teceived and
the amount can be m￿sured reliably. Where enlillemenis Occ￿r6 before incotne is received, tbe
income is accrued. Where income is received in advance of there being entitlement to the funds the
income is deferred.
EXPENDI'I"URE
EKpellditUTe is accrued as soon as a liability is eonsidered probable, diseounted to present value for
longer term liabilities. C()sts uf generuliIig lund8 dre th￿￿¥ wsts. incurred in attracting voluntary
income and those incurred in trading activities that raise fllllds. Charitable activities include
expenditure associated Thryth the objeets of the School and indude both diTect Costs and supwTrrt costs
relating to this ac.tivity. CJl)vernanee costs indude tho.se ineurred in the goVernall￿ of the Sehool and
its assets and 8re prirnarily associated with eonstitutional and stakntoryrequirernents.
TAXAI'ION
The School is an exempt charity and benefits by being exempt from coryoration tax on income it
receives from tuition lees, inlerest and rents.
The School is exempt from lev)qng VAT on services it provides to pupils. For this reason the Sehool is
ge.ner811y unable. to reeover input VAT it.quffcrs on goods and services purchased, which is therefore
included in the eost of these soods and services.
The subsidiary, AFSG Developments Ltd. is registered for VAT and so has a different aceounting
policy, fvith VAT being accounted for separately.
SCHOOL TIUPS
The Sehnol CollecL￿ n]onies in respect of trips and pay5 thL%c mnnicg out in full. As these ￿ndS do not
represent income for tbe School, they are not aeeounted for in the Statement of Financial Activities.
PENSION SCHEME
The School contributes to the TeacheTS' Pension Defined Benefit Schelne at rates set by the Scheme
Actuary and ad￿Sed to the School by the Scheme Athnini5trator. The Scheme is a multi-employer
pension scheme and it is not possible to identify the assets and liabi]ities of the Scheme which are
attributable to the Scbool. In aecordance with FR.8 102 tbe Schenie is aeeollnted for as a defined
contribution scbeme and contributions are aecounted for when adwsed as due by the scheme
Administrator.
The School also contributes to a group personal pension scheme for non-teaching staff. Ail non-
teaching staff are eligible to take part.
This scheme is currently with Scottish Widows and is a defined contribution scheme.
Page 20

Alderley Edge School for Girls
AccouwfING POLICIES
for the year ended 31 August 2020
The School used contribute to the Pensions T￿st Growth Plan for manyof the non-teaching staff. This
is in most respects a Money purchase &Trangement, but does inelude eertain guaranteed benefit
elements. The Plan is a n]ulti-e]nployei scheme as it is not possible in the nornial course of events to
identifjT the share of the underlying assets belonging to the Indi￿￿dUal partieipating employers and
aecoTdingly* in aecordance Mith FRS 102, is aeeounted for as a defined contribution scbeme Mryth
eontributions being recorded as they becon]e payable.
DONATIONS
Donations received for the general purposes of the sehool are eredited to 'other unrestrieted funds"
Donations subject to specific Mqshes of the donors are ca￿lea to relevant restrieted fillias.
FUND ACCOUNTING
The Sehool hasNTrrious t)T)es of fund8 forwhichitis responsible andwhieh require separate disclosure.
These are as follows:
Unrestrirted funds
Funds whieh are expendable at the discretion of the Governors in
filltheranee of the objects of the Sehool. In addition to expenditure on
tuition, 8ueh fund.9 may be hpld in arder to fin2nee eapital inve8tment and
working capital.
Donatiorns or legacies received which are earniarked by the donor for
specific purposes. Such purposes are within the overall aims of the School.
The School may at its diseretion set asidefunds for specificpurposes which
would ￿tI)er￿se forni part Of the general rLqe.rve8 of the School.
Endowments fi￿d$ are ￿Tha$ for whicb the Governors must maintain the
eapital element but the incoming reSoUr￿S derived from the underliryng
endowment fund assets ean be spent.
Restrieted funds
Designated funds
Endowment funds
INVKSTMENTS
Investn]ents in subsidiaries are valued at cost less proN4sion for impairment.
FINANCIAL INsfRUMEwrs
Basic financial in5trun]ents are initially reeognised at transaciion value and subsequently measured
at amortised cost with the exception of investments which are held at fair value. Financial assets held
at atnurtiBecl cost Lumprise eash at bank and iii haIid, Logether wilh irade other clebtors. A
specifie provision is made for debts for which recoverabilÉty is in doubt. Cash at bank and in hand is
defincd A.q all eash hcld in instant aeees.£ bank aeenunL8 and ￿sed a.s working capital. Finaneial
liabilities held at amortised cost comprise all creditors exeept social seellrity and other taxes and
provisions.
CRITICALAccouwfINGJUDGEMENfs AND KEY SOURCES OF ESTIMATION UNCERTAIwrY
In the application of the accountins polieies, Th￿eeS are required to make judgement. estimates.
and as.suinptioDS about the eaTrysng value of assets and liabilities that are not readily appaTent from
other sources. The estimates and underlying assumptions are based on histOTical experience and
other factOTS that are considered to be relevant. AC￿￿1 results may differ from these estimates.
The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are TeeogtLised in the period in wliieb the estimate is ievised if the revision
affects only that period, or in the period of the revision and ￿tUre periods if the revision affected
eurrent and future peiiods.
In the view of the trustees, no assumptions concerning the future or estin]ation uncertainty affecting
assets or liabilities at the balanee sheet date are likely to result in a Tnaterial adjustment to their
carrying amounts in the next financtal year.
Page 21

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
GOING CONCERN
Tbe Directors have due regard for the going concern of the Charity. The School prepares a detailed
budget for the 12 months ahead as well as more geneTal longer-term financial projections. Actual
performance is monitored termly and cashbalanees are monitOTed atLd reviewed daily.
At the tirne of approval of the financial statements, the COVtDi9 virus continues to develop and has
been designatcd a global pandemic by the World Health OigaDisation. Both shnrt-term and long-
term effects of the rapidly changing sitiiation are unknown but, as for many businesses at this time,
the DiTeetors consider that there is potential foT significant and enduring impact on the Sehool's
demand for pupil places, suppty chain andwoTkft)Tce availabi]ity.
The Directors have undertaken planning and forecasting and continue to elosely monitor the
developing situation. Furtber details on the School's response and plans for dealing with the COVID
19 Trirus arc doeurnented in the Directors Report on page 5 OnW￿.d9. Deqpite the euTrent
Circumstances the Directors believe that the scbool's financial resources and contingency planninR
suffieient to ensure the ability of the School to continue as a going con￿rn for the foreseeable future,
being atleasttwelve months fromthe date of approval of thesefinaneial statements and therefore have
prepared the finallcial statements on a going concern basis.
ia
OTHER TRADINGAcrtvrEIES
Consolidated
School
2020
2019
2020
2019
Fundraising
Trading income
Hire of Sehool premises
42,298
64,604
4,787
51,258
80.348
4,055
42,298
51,258
4,787
4,055
111,689
135.661
47,085
55,313
The fundraising income includes £2,436 (2019 £11,507) donated fmm the Parents
Association.
SCHOOL FEFS
2020
2019
Fees Teceivable consist of:
GTOSS fees
I£ss: Bursaries, grants and all0Th￿C￿8
5,685,339
5,741,293
(654,656) (557,196)
5,030,683
5,184.097
Scholarships, bursaries and other a￿ra$ were paid to 227 pupils (2019: 207). Within this
eans-tested bursaries totalling £309,095 were paid to 48 pupils [2019: £221,852 to 35
pupils).
There were no bursaries or allowances paid from re8tricted funds. Nursery grants of £51,670
(2019: £63.447} There received frorn tl]e government and paid out to parents.
Page 22

Aldeiley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
ie
(yrHERANCILL4RY INCOME
2020
2019
Catering receipts
Other amcillary ineome
11.359
18,206
19,022
56,885
29,565
75,907
Catering receipts are monies received fro￿ staff lunches and other ad hoc catering supplies
to staff and pupi]s.
Page 23

Alderley Edge School for Girls
NOTES TO THE Accouwrs
for the year ended 31 August 2020
RESOURCES EXPENDED
2020
2019
Net outgoing resources are stated after charging:
Charitsble expenditUTe ineludes..
DepTeciation
Operating leaseslrentals
257,076
10,200
234,318
10,000
Governance costs include..
Auditors, remuneruliun
9AT2
11,934
Staff costs comprise:
Wages and salaries
Social security costs
Pension eosts
3,152,844
302,775
538,533
3,210.743
310,913
412,257
3,994,151
3.933,913
Aggregate emploioe- benefits of key management personnel
The average monthly number of employees during the year was:
2020
2019
Teaching staff
Pretnises and grounds
Administration
OtheT
65
67
19
33
30
120
119
The average numbers employed by the school duTing the year calculated on a time
equivalent basis was:
2020
2019
Teaehing staff
Premises and grounds
Administration
Other
53
57
12
19
19
88
Page 24

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
Neitber the governors nor persons eonnected knrytb thern received remuneration, other
benefits or reirnbursed expenses from the school or any connected organisation.
2020
No
2019
No
The number of employees whose income exceeded £60,000 was:
£90,001 to £ioo,000
£80,001 to £90.000
£60,001 to £70,000
Inelllded in the 8bave higher paid employees was i employee (2019: 1) accruing pension
benefits under a defined benefit s¢heme and i employee (2019: 1) accruing benefits under a
money Purchase pension schen]e. The aggregate employer pension contTibutions for the year
was £26,835 (2019.. £19,178).
ANALYSIS OF T(yfAL RESOURCES EXPENDED
Staff
Costs
Other
Depreciation
Totsj
2020
Totoj
2019
cosrs OF
GENERATING FUNDS
Tradi￿ costs of the
subsidiary
FundTaising eosts
FinunLing uists
7,083
54,122
7,505
3,541
61.205
7,505
72,169
15,87S
4,724
7.083
65,168
72,251
92,768
AcfiviTIES - SCHOOL
OPERATING COSTS
Teaching Costs
Wcjfaro
Premises
Support and governance
3,379,762
36,247
103,496
467,563
157,486
333,407
293,969
399,151
71.565
3,463
161.282
20.766
3.608,813 3,603,166
373,117
440,748
558,747
523,207
887.480
864,911
3.987,068
1,184,013
257,076
5,428.157 5,432,032
TOTAL
3,994,151
1,249,181
257,076
5,500.408 5,524,800
Page 25

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
foL the }Fear ended 31 August 2020
Support and governanee costs maybe split as follows:
2020
2019
Staff Costs
Marketing
Recruitment and Training
l.egal, Profcssional and other F
Depreciation
Stationery) Postage and telephone
Insurances
Bad Debt Written Off
Computing Costs
Sundry other Costs
Audit and Aceountancy
Headteacher Recruitment
467,563
161,113
35.755
u,650
20.766
313.681
31,466
529
4,652
38,607
9A72
427,455
208,150
28,845
43,750
28.151
45,818
30,881
4,195
35,732
11,934
TOTAL
FINANCING COSTS
2020
2019
Interest on site PUTchase loan
Banlc charges
608
2,933
1.915
2,809
3.541
4,724
TAXATION
As the sehool is a Tegi5teTed charity, no pmvision is required for Corporation tax.
INVESTMENT INCOME
2020
2019
Bank interest receivable
3.149
4,673
Page 26

Alderley Edge School for Girls
NOTES TO THEACCOUNTS
for the year ended 31 August 2020
TANGIBLE FIXED ASSETS
Consolidated and Sehool
Fixtures,
fittings &
computer
equipment
Freehold
land &
buildings
Plant and
equiprnent
Total
Cost
As at i SeptembeT 2019
Additions
Disposals
7,540,462
26,959
335,243
44,439
1,323,513 9,199,218
37,172
108,570
q at 31 August 2020
7,567,421
379,682
1,360,685 9,307,788
Depreciation
As at i September 2019
Charge for the year
Charge on Disposals
1,415,529
149,844
286,284
24,603
1,075,849
82,629
2,772,662
257,076
As at 31 August 2020
1,565,373
310,887
1,1585478 3,034,738
Net Book Value
As at 31 August 2020
6,002,048
68,795
202,207 6,273,050
As at 31 August 2019
6,124,933
48,959
247,664
6,421,556
AESG DEVELOPMENfs LIMrrED
AESG Developments Limited is a wholly ON￿ed 6ubsidiary of Alderley FAge School for Girls,
and whose company number is 05213539. The company is registered in England. AESG
DevelnpmenL8 Limited runs tbe seho(bl llnifnrm .shop at Alderley FAge 8chnnl for Ciirls.
Any taxable profit is transferred as gift aid to Alderley Edge Sehool for Girls. Surnmaries of
the trading results and balance sheet are shOm￿ below. Accounts will be filed Mryth the
Registrar of Q>mpanies.
Page 27

Alderley Edge School for Girls
NOTES TO THE ACCOUNrs
for the }Tear ended 31 August 2020
i) Profit and IA)ss account for the period to 31 August 2020
2020
2019
Turnover
Cost of sales
64,604
(47,628)
80,348
(59,569)
Gro￿ profit
Administrative expenses
16,976
(iJ.577)
209779
(12,600)
Operating surplus
Gift aid payment to AESG
3,399
(8,179)
8,179
(3,422)
Retained surplus
(4,780)
4,757
li) Balance Sheet at 31 August 2020
2020
2019
StOLk
Debtors
Bank and cash
41,931
1,756
27,224
45,057
2,035
11,M2
Net current assets
70,911
58,635
Creditors
(63,639) (46,583)
Net current assets
7,272
12,052
Net assets
7*272
12,052
Share eapital
Retained profits
7,271
12.051
7,272
12,052
Page 28

Alderley Edge School for Girls
NOTES TO THEACCOUNTS
for the year ended 31 August 2020
DEBTORS
Consolidated
Sehool
2020
2019
2020
2019
Fee debtors
Less.. Bad debt provision
264.377
(27,147)
46.499
(39.859)
262.621
(27,147)
144,463
(39,859)
237,230
106,640
235,474
104,604
Prepayments and aeerued income
Amounts owed by AF.,SG
Developments Iimited
143J02
112,432
143.302
112,432
57,323
41,D6
380,532
219,072
436,099
258,752
Amounts owed by AESG Developments Limited are repayable when eash surpluses allow, or on
demand. Interest on the balance outstanding is charged atbase rate.
Page 29

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
io
cRED￿oRS. Amounts falling due within one yeaT
Consolidated
2020
2019
School
2020
2019
Trade Creditors
Accruals and deferred ineome
Other ereditors
Otlier taxes and soeial security costs
Amount owed to The Sisters of St
Josepli
221,043
84,775
551,577
70,136
282,081
23,710
694,150
76A67
23.¥6
218,108
84,775
548,196
70,136
280.378
23.710
690,986
76,467
23,¥6
927,531
1,099,654
921,215
1,094,787
Deferred Incorne tr8m8actions 8Je as follows:
2020
2019
Deferred Incorne as at i Septsmber 2019
8,129
18,240
Released from Prior Year
Deferred in the Yvar
(8,129)
{18,240)
Deferred Income as at 31 Augusi 2020
Deferred Income cotnpEises nurserygrant illcorne received in adVaTh￿ of the 2020-21 financial
year to which it relates.
li
CREDrroRS: Amounts falling due after more than one year
Consolidated and School
2020
2019
Amounts owed to The Sisters of St Joseph
Accrued itLteTest on an]ounts owed to The Sisters of St Joseph
Amounts due payable by instalnLents:
2020
2019
In less than i year
Between i and 2 years
Between 2 to 5 yeaTS
23,¥6
23.246
The atnount owed to The SisteTs of St Joseph was secured by a first legal charge over certain
assets of the Charity, however this bas nowbeen released and deeds TetUTned to AESG.
Page 30

Alderley Edge School for Girls
NOTES TO THE Accouwrs
for the }'ear ended 31 AugLLSt 2020
Amounts owed toThe Sisters of St Joseph were repayable in monthly instalments commencing
from November 2003 until October 2019. Interest on amounts outstanding has been eI￿rged
at 1% pa belowbase rate, iyith a minimum of 3%, from November 2003.
12
AIIDCATION OF THE CHARITY NET ASSETS
Consolidated
Tangible
Fixed
Assets
Net
CurTent
Assets
LLJng tern]
liabilities
Total
2020
The net assets are held for
the various ￿ndS as
follows..
Unrestricted funds (12a)
Designated funds (12b)
Restricted ftwds (12c)
Endowed funds (12d)
5,723,053
550,000
(88,382)
5,634,671
550,000
190,081
29,945
190,081
29,945
6,273,053
131,644
6,404,697
School
Tallgible
Fixed
Assets
Net
CuTrent
Loug term
]iabilities
Total
2020
Unrestricted funds (12a)
Designatcd funds (12b)
Restricted funds (12c)
EndoMTed funds (12d)
5,723,052
550,000
(95,6M)
5,627,398
550,000
190,081
29.945
190,081
29,945
6,273,052
124,372
6,397,424
Consolidated
Tangible
Fised
Assets
Net Thirrent IA)ng terni
Assets
liabilities
Total
2019
The net assets are held for
the various funds as
folloms:
Unrestricted funds (12a)
Designated funds (12b)
R&strieted funds (12c)
Endowed funds (12d}
5,871,556
550,000
(75,545)
5,796,011
550,000
153,114
29,647
153,114
29,647
6,421,556
107,216
6&28,T72
Page 31

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
12
ALLOCATION OF THE CHARrrY NET ASSETS Continued
School
Tangible
Fixed
ssets
Net
Current
Assets
Long term
liabilities
2019
Total
Unrestricted funds (12a)
5,8p,556
550,000
(87,597)
5,783,959
550,000
153,114
29,647
Design¢ited I'uiids (12b)
Restricted funds (12c)
Endowed funds (12d)
153,114
29,647
6,421,556
95,164
6,516,720
12a UNREsfRIcfED FUNDS
Consolidated
2020
2019
School
2020
2019
Balance brought forward i September 2019
5,796,011
5,910,826
5,783,959 5.903.531
Net movement on fLmd
(161,043)
(14,513) (156,261) (119,270)
Transfer to endowed fi]nds
(298)
(302)
(298)
(302)
Balance carTied foTward 31 August 2020
5,634,670
5,796.011
5,627,400
5.783,959
Page 32

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for tbe year ended 31 August 2020
12b
DESIGNATED FUNDS
Consolidated and School
2020
2019
Balanee brought folward i September 2019
Transfer to unrestricted fLmd8
Transfer from unrestricted ￿ndS
550,000
550,000
Balance carried forward 31 August 2020
550,000
550,000
Funds were initially designated in 2018-19 for sports developn]ent and these are now carried
forward into the 2019-20 financial year.
12e
RESTRIcfED FUNDS
Consolidated and Scbool
Ati
Incoming Resources
September resources
expended
2019
ltrkinsfer
between
runds.
At 31 August
2020
P A￿OnIeS
Millennium appeal
L¥(erger balanees
Bursary Fund
Woo¢laTd Schools
(Midland Division) Ltd
Library Development
2,436
(2,436)
10,344
9,404
19,632
80,000
10,344
9,404
19,632
80,000
33,734
36,966
70,700
153,114
39,402
(2,436)
190,080
Ati
Incon]ing Resoui"ce5
September resources
expended
2018
Transfer
behyeen
fijnds
At 31 August
2019
P Amonies
Millennium appeal
Merger balances
Bursary Fund
Woodard Schools
(Midland Division) Ltd
11,508
(11,508)
10,344
9.404
17,444
80,000
10,344
9,404
19,632
80,000
2,188
33,734
33,734
117.192
47,430
(11,508)
153,114
Page 33

Alderley Edge School for Girls
NOTES TO THE Accouwrs
for the year ended 31 August 2020
The PA monies are amounts received from the Parents, knsociation and are for the general
purpose of the School.
The Millennium appeal was a fund raising project to raise fimds for major capital expenditure.
Woodard Schools (Midland Division) Limited arises fron] assets passed over to AESG at the
time of the merger. Repaytnent is only Tequired in tbe event of the Mrynding up of the school.
The Bursary Fund aims to proride bursary assistance to familie5 who cannot meet the full
School fees.
12d
ENDOWED FUNDS
Consolidated and Sehool
Ati
September
2019
Incoming
resources
Resources
expended
Transfer
between
nds
At31 Ali
2020
29,647
29,945
Ati
September
2018
Ineoming
resources
Resources
expended
TransfeT
between
funds
At 31 August
2019
29,345
302
29.647
These ￿ndS represent Endowed Funds previously heldby St Hilary's Sehool before its merger
Mryth Mount Cannel School and the subsequent fonnation of Alderley FAge.8ehnol for Girls.
The permitted use of the ineome from these ￿lldS is in accordance with the wishes of the
original donors, being mainly the awarding of prizes and bursarias.
13
OTHER OPERATING CFL4RGES
At 31 August 2020 the￿tllre minimurn lease payments under non-cancellable operating leases
were as follows:
2020
2019
Within one year
Within two to five years
Ovei five yeaTS
18,687
57,737
663,863
18,687
57,742
663.863
740,286
740,292
Page 34

Alderley Edge School for Girls
NOTES TO THEACCOUNTS
for the year ended 31 August 2020
FINANCIAL INSTRUMEwrs
2020
2019
Financial assets me&8UTed at amortised cost (a)
924,996
979,940
Financial liabilities measured at amortised c05t O))
1,117,267
954,327
Net financial assets measured at amortised eost
(192.272)
25,613
The amount of stocks reeognised in the SOFA is £47,628 (2019: £59,569)
(a) Financial assets IDclude casb, fee debtors, nther debtors and 8ecrned ineome
(b) Financial liabilities include aecruals, amounts due from The Sisters of St Joseph. trade
creditors and other creditOTS
Impairnient losses eharged to financial assets M￿￿￿rea at amortised cost in the year amounted
to £1,161
Impairment losses arise from stocks and bad debts being MTitten off.
Bad debts of £529 were written off during the year (2019 £Nil) as these were not deemed to be
reeoverable.
Stoeks of £632. comprising items of School UDiforni, were written off during the year (2019
£Nil) as either damaged or out of date.
Page 35

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
15 PENSION SCHEML8
Teaehers, Pensions
The School participates in the Teachers, Pension Scheme ("the TPS") for its teaehing staff. The
pension cha￿e for the year includes contributions payable to the TPS of £492,741 (2019:
£367,570) and at the year-end £Nil (2019- £Nil) was accrued in respect of cotktributions to this
scheme.
The TPS is an unfunded multi-en]ployer defined bellefits pension seheme governed by The
TedLherg' Pensions Regulativng 2010 (as anlended) and The Teachers, Pellsion Sehcme
Reglllations 2014 (as amended). Members contribute on a °pay as you go" basis
contributions from members and the employerbeing eredited to the F.xehequer. Retirement and
other pension benefits are paid by publie ￿ndS prO￿dea by Parliament.
The employer contTibution rate is set by the Secretary of State following scheme valuations
undertaken by the Government Aetuarfs Department. The most recent actuarial valuation ol
the TPS was prepared as at 31 MarLli 2016 and tlie Valuation Report, which was published in
Mareh 2019, confirmed that the employer contribution Tate for thc TPS would inerease from
16.4% to 23.6% fro￿ i September 2019. Employp.rs are also required to pay a scheme
administration lery of 0.08% giring a total employer contribution rate of 23.68%.
The 31 March 2016Valuation Report was prepared in accordance with the benefits set out in the
Scheme regulations and under the approach speeified in ihe Directions, as they applied at S
March 2019. However, Ihe assumptions were eonsidered set by the Department for
Education PTÉor to the ruling in the'MeCloud/Sargeant case,. Thi.s ca.se has required the courts
to consider eases regarding the imple.mentatlOD of the 2015 reforms to Public Serrice Pensions
including the Teachers, Pensions.
On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of
Appeal's judwent Ihat Iransitional provibiuns introduced to the reformed pension sehcmcs in
2015 gave rise to unlawful age discrimiiiation. The government is respectingthe Court's decision
and has said it will engage fully the EtnploymentTribunal As well as employer and member
representatives to agree how the discriminations will be remedied.
The TPS is subjeet to a Cost cap mechanism which was pllt in place to protect taxpayer8 against
unforeseen changes in scheme eosts. 'i'he chief Secretary to the Treasury> having in 2uI8
announeed that there would be areNryew of this cosl cap n]eLhanisni, in January2019 anDounecd
a pause to Ihe cost cap Mell￿115￿ following the Court of Appeal's ruling in the
McCloud/Sarseant case and until there is certainty about tbe value of pensions to employees
from April 2015 onwards.
In Mew of the above ruling5 and decisions the assumptions used in the 31 March 2016 AetuaTial
Valuation may become inappropriate. In this scenaTlO, a valuation prepared in aecordanee with
repised benefits and suitsbly revised assumptions would yield different results than those
contained in the Actuarial Valuation.
Until a remedy to the diserimination Conclusion has been determined by the Emplo)rnent
Tribunal it is not possible to conclude on any financial impact or future ohanges to the
eontiibution rates of the TPS. Aceordingly no provision for any additional past benefit pension
c(>sts is itlduded in these financial statements.
P8ge 36

Alderley Edge School for Girls
NOTES TO THE Accouwrs
for the year ended 31 Allgust 2020
The Pen$ions Trnst
Support staff employees of Alderley Edge School for Girls are entitled to membership of a
pension schen]e> providing they meet the Governrnenfs allto-enrolrnent criteria.
Until October 2018, the School was a member of The Pellsion TTUSL Pension Scheme. This is a
mu]ti-employer pension plan whieh in most respeets is a money purchase arrangement,
althougli it does include certain guarantee elements as described below.
Contributions paid into the Growth Plan up to and including September 2001 weTe converted to
aefined amounts of pension payable from normal Tetirement dates. FTOM October 2001
eonlributions were invested in peTsonal fi￿a$ which have a eApital guarantee and which are
converted to pension on retirernent, either within the Plun or by the purLhaye of an annuity.
The rules of the PlaTh give the Truqtee the power to require emplnyers to pay additinnal
contributions in order to ensure that the statutory funding objective under the Pensions ACL
2004 is met. Tbe statutory funding objective is that a pension scheme should have sufficient
assets to tneet its pasl serviee liabilities, known as Technieal Provisions.
The latest forn￿] valuation of the Plan at 30 September 2017. The valuation revellled a shortfall
of a.s.qeLs compaird with the value of liabilities of £132 million (2104 valuation (177 million),
equivalent to a thnding level of 86% (2014 valuation 82%) on a Technical Provision valuation
basis.
Following advice receivedfrotn pension consultants, and after discussion Thith staff,the decision
was taken to leave this SLhetne. Wilh efleel from October 2018, the School established a new
GTOUP Personal Pension Scbeme with Scottish Widows. Contributions to The Pensions Trust
ceased from thi.s point and commencedTrfyith Scottish Widows, although staff have the option of
maintaining a pension with The Pension Trust or transferring their pension value to Seottish
Widows.
Alderley Edge School for Girls paid contributions at the rate of 6% and totaling £45,835 (2019
£44,511) during the accounting period. Members paid contributions at a milliinum rate of 3%
during the accounting period. As at the balance sheet date theTe were 40 active membeTS of the
Scottish Widows scheme employed by Alderley FAlge Sehool for Girls.
Pension Costs for both schemes are met from unrestricted thnds.
Page 37

Alderley Edge School for Girls
NOTES TO THE AccouFrrs
for the year ended 31 Augu4%t 2020
16
INSURANCE
During tbe year, the school purchased Governors and Bursars Insurance at a cost of £300
(2019: £300) and £Nil (2019: £ nil) respectively.
R￿lATED PARTY TRANSAcfIoNS
Mount Carmel and St Hilary's Schools merged wAth effect from September 1999 and became
Alderley Edge School for Girls. St Hilarfs Sehool was part of Woodard Schools (Midland
DI￿510￿) Limited and Mount Carmel was founded by The Sisters of St Joseph. Certain loans
have been made to the merged Sehool by these organisations to assist with the merger, as
disclosed in notes io, li aud 12. These loans, as of October 2020, have been paid in full.
The SAsters of St Joseph norninate a goitrnor to the Board - this is eurTently Mrs R. Price.
Rent of £10,200 per annum is also paid to Thc 8iste.rs for use of tennis courts at Ryleys Iane.
Woo(laTd Schoo15 also nominate a governor to the Board- this is currently Rev. B. Clover.
CONfINGEwf LIABIIITIES
A legal mortgage of £1￿ was entered into during the year ended 31 August 2001 ill favniir of
Wuoaard SLhvols (Midlalld Division) Limited. This mortgage is only repa}Trble in the event nfthp
Inding up of the School.
19
posr BAL4NCE SHEET EVEwrs
On 20th March 2020, as iJstructed by the UKGovernuLent in response to the CO￿d-19 pandemic,
the Sehool elosed its site to all puplls, except those of paTents who are Key Workers. Follomryng
Goiernment guidance, pupils in certain Year Groups weie allowed to return to School from Julle
2020.
The School moved its educational PTovision online and eommeneed remote Iearning for those
pupi]s not on the premises. Staff continued to provide education on site to those pupils atteudins
School.
The School was able to reduee running costs by operating a Tedlleed site. It a]so ar.eessed the
Cor(Inavirus Job Retention Scheme and furloughed some membeTS of staff. In making thetse
changeb, the School w&5 able to llLake estill￿tea savings of apprOxiu￿teIY £80,000, which it
itLlendb" lo pass on to parents.
Page 38

Alderley Edge School for Girls
NOTES TO THEACCOUNTS
for the year ended 31 August 2020
20 CONSOLIDATED SOFA- COMPARATIVE FIGURES BY FUND TYPE
Restrirted
Endowed
Unrestricted
Total
Total
Note
Funds
Funds
Fund5
2019
2018
JNCOMtNG RFSOURCFS
Charitable actlvltles
School lees
Other allcillary illcome
5,184,097
75.907
5,184,097
7S,907
5,037,132
42,170
Ic
Other trading activities
Actiiqties for generating fund8
Other activtties
ia
47,430
88,231
45.871
135,661
45.871
113,616
32,6L9
Investsnents
Investment incolne
4,673
4,673
5,124
TOTAL INCOIKtNG
47A30
5.398.779
5,446.209
5.230,561
Raxsing thnds
Trading cost5 of the subsidiary
Fundraissng cost5
Financillg costs
72,169
,87S
4,724
72,169
LS,875
4,724
78,193
14,836
9￿07
92,768
92,768
lo2￿36
Charitable activities-
School oper&ting c08ts
Teaching eo8ts
Welfare
Preniises
Suppoit and goYeTDaDce
11,508
3,591,658
440,748
523,207
864,911
3,603,166
440>748
523,207
864.911
3,632,642
393,884
516,652
802.208
11,508
5A20,524
5,432,032
5,345,386
TOTALRESOURCFS
EXPENDED
11,508
5,513,292
5,524,800
5,447,922
NET INCOMING RESOURCES
35,922
(114,513)
{302)
(78.591)
(217.3611
Tran.￿ters bptween thnds
Fund balaDces
At I Septernber 2018
302
117,192
29,345
6,460,826
6,607,363
6,824,724
AT 3IAUGUSf 2019
153,114
6*346,011
6>528>772
6,607>363
Page 39

Alderley Edge School for Girls
NOTES TO THE ACCOUNTS
for the year ended 31 August 2020
20
COMPANY SOFA- COMPARATIVE FIGURES BY FUND TYPE
Restricted
Funds
Endowed Unrestricted
Funds
Funds
Total
2019
Total
2018
Note
INCOMING RESOURCFS
Clwitable activities
School fee5
Other ancillary income
5.184.097
75,907
5,184,097
75,907
&037,132
42,L70
Ic
Other trading activities
AetiTrities for generatills￿nds
Other activities
ia
47,430
7,883
49,293
55J13
49,293
31,90
32.619
Investnlertts
InvestmeTht income
4,673
4,673
5,124
TOTAL INCOMING
RFSOURCFS
47,430
5,321,853
5>369,283
5,148,946
Raising ￿ndS
Fundraising costs
Financing eost8
,875
4,724
,875
14,836
9,507
20,599
20,599
24,343
Charitable aCtE￿tieS-
Sehool operating cffjsts
Teaching eosts
Welfare
Preryjises
Support and governan
3,591,658
440,748
52J,407
864.911
3,603,166
440,748
523>207
864,911
8,632,642
393.884
516,652
802,208
11,508
5A20ffj24
5.432,032
5,345,386
T(YTAI. RFSOURCES
11,508
5,441,123
5.452,631
5369,729
NET INCOMING RFSOURCRS
Transfers between funds
35,922
2.188
(119,2701
(3021
(83,348)
{220,783)
302
At I September 2018
117,192
29,345
6,453,531
6,600,068
6,820,851
FUND BAtANC&
AT 31 AUGusf 2019
153,114
29,647
6,333,959
6,516,720
6,600,068
Page 40