Company number: 2659703 Charity number: 1006726 Alderley Edge School for Girls (A Charitable Company Limited by Guarantee) REPORT AND ACcOU￿s (CONSOMDATED wrrH AESG DEVELOPMEbrrs tJMrrED) For the year ended 31 August 2024 Page I Alderley Edge School for Girls For the year ended 31 August 2024 CONTENTS Page School infornlation Governors, Report and Strategie Report Statement of Governors, responsibilities Independent AuditOTS' report to the GoiTeTlloTS' Consolidated Statement of finaneial activities 12 17 Company Statement of finaneial act]￿tIeS Consolidated balance sheet 19 Company balance sheet Consolidated eash flow statement 20 21 Aceounting policies Notes to the accounts 23 28 Page 2 Alderley Edge School for Girls SCHOOL INFORNL4TION DIREcfoRS, GOVERNORS & TRUSTEES The present (Iireetors of the Company, who aTe also eharity trustees and school governors, and also any ex-(lirectOTS who seThTed during the )ear, are as follows.. Mr K R Lowe- Chair of Governors (resigned 18.09.24) Mr G Bryant (resigned 27.03.25) Mrs AS Herring Mrs C Lowe- {appointed as Chair of Governors 18.09.24) Mrs R Priee Mrs J Rostron Mr C Wright (resigned 16.06.25) Mr S Burley (resigned oi.08.25) DIREcfoR OF FINANCE AND OPERATIONS Mrs M Rigby (resigned 31.08.25) H&4DMISTRESS Mrs N Smillie (resigned 31.08.24) Mrs C Wood (appointed oi.09.24) The Headmistress and Direetor of Finance and Operations are considered to be the School's key management personnel. Thcir rcmuncration is set annually by the Chair of Governors and Chair of the Finance Committee. Page 3 Alderley Edge School for Girls SCHOOL INFORNL4TION (continued) COMPANY NUMBER 2659703 CHARITY NUMBER 1006726 REGISTERED OFFICE AND PRINCIPAL OFFICE Wilmslow Road Alderley Edge Cheshire SK9 7QE WEBSITE wTh.aesg.co.uk BANKERS Royal Bank of Scotland plc DTummond House i Redheughs Avenue Edinburgh EH12 9JN AUDITORS CTowe U.IC IIF 3rd Floor St George's House 56 Peter Street ManchesteT M2 3NQ Page 4 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT The governors have pleasllTe in PTesenting theiT annual report foT the year ended 31 August 2024 under the Companies Act 2006 and the Charities Aet 2011, together Ivith the audited finaneial statements for the }'ear, and confirm that the latter eompl}' ilith the requirements of the Companies Aet 2006, FRS102 and the Charities SORP (FRS 102), effective for aecounting periods beginning on OT after i January 2019. GOVERNORS, REPORT REFERENCE & ADMINISTRATIVE INFORMATION The school is a registered charity and was ineorporated in 1991 as a company limited by guarantee, Mqth the liability of its mcmbers limited to £1 eaeh. The Registered Charity number is 1006726 and Company number is 2659703. The principal address / registered office is stated on page 3. Governors The governors, who are also directors of the company and trustees of the charity, are listed on page i. Goi'ernors are appointed by the Board of Governors. Key personnel and professional advisers The key personnel and PTofessional adiqsers of the School are listed on pages 3 & 4. STRucfuRE, GOVERNANCE AND MANAGEMEKr Governing document The School is goveTned by its Memorandum and Articles of Association, last amended by special resolution on io February 2021, to reflect changes in the status of the Sisters of St Joseph. Governor recruitment and training GoN'ernors are generally appointed to fill a vacanc). and to provide relevant skills, knoM,ledge and experience as required by the Board. New governors are introduced to the workings of the School, the Company and Charity. at an induetion meeting arranged by the Chair of GoiTeTlloTS, the Headmistress and the DiTector of Finance and Operations. O)pies of appropriate documents aTe provided, as is on- going training for all goi'ernors. All GoNtrnors are able to extend external training eourses and are iniqted to attend School events. OrganAsatAonal management The GovernoTS, as Trnstees of the Charity and DiTector5 of the Company are legally Tesponsible for the overall management and Control ot the School. The Governors determine the general policy of the school, and the day-to-day management of the school is delegated to the Headmistress and the DirectOT of Finanee and Operations. DuTing the year the GoiTeTning Body rnol'ed away from separate committee n]eetings. The full GoveTning Board meets n]onthlyJ and each n]eeting has a focus area, covering Finanee and Premises, Marketing and Currieulum. Group structure and relationships The School has a Thholly owqied non-charitable trading eompany subsidiary, LE.S.G. Developments Limited. This trading subsidiary ran the Sehool Uniform shop. The School Uniform shop ceased trading in December 2021. Uniform is sold by Monkhouse and eommission is paid to AESG DeTr'elopments. The results of the subsidiary are consolidated those of the School. Page 5 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT (continued) Mount CaTmel and St Hilary s Schools n]erged Mryth effect from SepternbeT 1999 and becan]e Alderley Edge Sehool for Girls. St Hilary's Sehool was part of Woodard Schools (Midlund Division) Limited and Mount Camiel was founded by The Sisters of St Joseph. The School's continued assoeiation Thryth these two charitable Organisations fomis the basis of its eeumenical ethos. The School is also an active member of the following: .S.C. The Independent Schools Council. G.SA. The Girls. School Assoeiation. A.J.l.S. The Association of Junior Independent Sehools. I.S.A. The Independent Schools Assoeiation. A.G.B.I.S. The Assoeiation of Governing Bodies of Independent Schools. .S.B.A The Independent Schools, Bursars ￿Sociation. Page 6 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT (continued) STRATEGIC REPORT OWEcfIvES AND AcrIvrriES The principal activity during the }'ear was the operation of an independent day school for girls. On 24 February 2026, following extensive consideration, the Governors communicated a proposal to close Aldcrley Edge School for Girls at the end of the 2025126 academic year, with the School closing to pupils on Tuesda). 26 June 2026. The proposal covered all areas of the School. from Nursery through to the Prep School. Senior School and Sixth Form. FurtheT infoTmation re%ardin% the events that have arisen, subsequent to the year end aTe ineluded Mrythin the Future Plans section below. Motto: "Aspire to be MoTe" Vision Statement: "Agpire not to have more, but to be more" (Archbishop Osear Romero) AIMS OF THE SCHOOL DURING THE YEAR Academic To proiqde a ehallenging and stimulating leaTning enviTonment in whieb every giTI fulfi]s her full academic potential, and thus equipping girls the knowledge, skills and learning attributes for SUCLe55 beyond AESG. To deli￿er an innoiwative and future inspired curriculum embracin% the ￿ of technology, thus fostering intellectual euriosity, d￿'elOping creativity and a passion for lifelong leaTning. Enrichment To offer an extensive enriehment pro%ramme to enable girls to develop leadership skills, foster collaboration and reqourcefulness. grow in confidence and encourage resilience. To PTovide a rich and stimulating sehool experience in and outside the classroom, where girls can explore and develop their interests and talents. Spirituality To welcome girls of all faiths who share our values, and to respeet. celebrate and embrace diNersity and equal opportunities Mrythout preju(liee. To present a 5UPPOrtive, open and inviting enTrqronment foT %iTls to exploTe their spiritllality, to encourage retlection, and develop a strong moral compass based on our Christian foundation and principles. Girls To CTeate a supportive, nurturin% and happy ellTrTrron￿ellt underpinned by proactive pMstOTal initiatives, putting the %irls' wellbeing first. To ernpoMTer all our girls to flourish as strong womcn in the 21st Ccntury WOTkplaee, to eornmunieate Mqth coiifidence, and take their place as Tesponsible, active and global citizens bringin% about positive change for a more sustainable and equitable future. Page 7 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT (continued) OWEcfIvES FOR THE YEAR Noknqthstanding the subsequent decision to elose the Seb(K)1, 2023124 was a veaT of significant educational achievement and continued investment in pupils. The SLhool continued to develop systems and processes to stren%then pastoral eare and operational etfectiveness. Inx'estment in staff training across safegllarding, health and safety, teaching and learning, and enriebment aetivitics remained central to delivering the Sehool's ￿Slo￿ and strategie objectives. Academie performance rernained a particular strength. At GCSE, 30% of grades were awarded at grades 8-9, Mhile 31% of A Level grades aehieved A°_A and 52% were amurded at grades A"_B. Several departments achieved OiTer 90% of %rades at the highest levels. The School's value-added score remained Mithin the top 7% of schools nationally, demonstrating the exceptional progress made by pupils relative to national benebmarks. Beyond the elassroom, staff continued to support an extensive programme of trips, visits and enriehment aetivities. Forest Sehool proirysion was expanded for Prep pupils, whilst the #Bcmore programme, ehaplainey aetiNities and charitable initiatives eontinued to proiryde Mryder peTsonal development opportunitieb. Pupil leadership Temained at the heart of School life, e￿idenCed through the launch of Student Committees in the Senior Sch(M)l and the Prep School's application for the Diana Amard Anti-Bull5qng Programme. The School also continued its commitment to digital innoNation through its Apple Distinguished School statwq application and Regional Training Centre i￿ork, supporting both pupils and the Mqdcr eommuniti. in the effeetive and safe use of teehnologi.. Preparing pupils to head out into our world Mqth a strong digital understanding has been the Core of our work Mqth IT S5TStems, applying for the Apple Distinguished Sehools AIiTaTd for the third time alongside Regional Training Centre status, bTinging in the eon]n]unitiT beyond AESG to learn how to use tecllnology in their IiiTes safel) and Mth excellent outcome5. FINANCIAL REVIEW AND RESULTS FOR THE Tr￿AR The group's net ineoming resources for the year amounted to £47,821 (2023- £186,423}. Cash at bank and in hand increased from £1,208,853 in 2023 to £1,699,958 in 2024. During the year, the GovernoTS eontinued to rnonitOT eash, TeseTh'es and pupil nurnbeT Tisk closely. As explained beloity and in Note 17, significant post balance sheet events arising afteT 31 August 2024 mean that the financial statements have been prepared on a break-up basis rather than on a going concern basis. The group results for the year are detailed on page 17 of the full report. Fundraising and Compliance The School did not engage in any fundraising actI￿tieS requiring disclosure under si62A of the Charities Act 2011. FurtheT details of the School's funds, including an analysi5 of the net assets across different categorieb of funds, are proNided iii Note ii. Page 8 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT (continued) Endowed Funds An Endowed Fund of £31,258 was pre1q0usl￿ held by St Hilari s Sehool before its mer%er with Mount Carmel School and the subsequent fomiation of Alderley Edge Sehool for Girls. The ineorne from these funds is restrieted in use, in accoTdance Mqth the Moshes of the original donoTSJ Primarily for the awarding of prizes and bursaries. Unrestricted Funds At 31 August 20¥ ullrestrieted ￿llds totalled £6,012,022. Folloiiing the post balance sheet deN'elopments described below, these funds and the expected Tealisation of the School's assets Mryll be applied in managing the orderly Mqnd-down of the School, settling liabilities and meeting the School's charitable obligations. The Governors continue to monitor the leN'el, aiTailability and application of unrestricted funds in the context of the orderly Mind￿own and Closure strate&y. Free Reserves Free reseTves, calculated as unrestiieted Teserves minus fixed assets, were £159,306 at 31 August 2024 (2023: negative £42,782). The preiqous rese￿e5 target of £250,000 is no longeT an appropriate benchmark follomryng the post balance sheet decision to pursue an orderl}, elosure strate￿. The Governors continue to monitor liquidity and forecast cash requirements through the ￿1nd-dO￿ period. Cash Balances Cash balances at 31 August 2024 were £1,699,958 (2023- £1.208,854). Subsequent to the year end the Governors secured additional short-terni funding to support the orderly elosure and wrynd-dow strategy, as described in Note 17. Future Plans, Post Balance Sheet Developments & Basis of Preparation Sinee the year ended 31 August 2024, the School has expeTienced furtheT significant financial and operational pressure5. These included continued PTessure on pupil number5 and incTeasing opeTating costs, together with wider sector cost pressures affecting independent schools. The Governors undertook an extensive strategie review process to identify whether the School eould be preserved as a Trqable going eoneeTn. Thc strategic reNryew inclllded eonsideration of rcstruetUTing options, operational cost reduetions, merger opportunities, strategic partnerships, refinancing options, the sale of the School as a going concern and third-party ini'estment opportunities. External adiwisers were engaged to support a number of these processes, ineluding two separate disereet marketing and sale processes and the strategic and financial of options. A nun]ber of potential counteTparties were appi'oached and engaged Mth, but no viable tTansaction or refinancing solution capable of preseLving the School on a sustainable basis, M'as ultimately delii'erable Mrythin the required timeframe. On 24 February 2026, folloilqng extensii'e consideration, the Governors Communicated a proposal to close Alderley Edge School for Girls at the end of the 2025126 academic year, Mryth the School closing to pupils on Tuesday 26 June 2026. The proposal coi'ered all areas of the School, frorn Nurserythrougb to the Prep School, Senior School and Sixth FoTlll. A formal bttaff consultatloll PTocess was then undertaken. Page 9 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT (continued) Fnlloming completion of the eon.sultation proec&s in April 2026, and in the absence of a viable alternatllTe OT Teseue plan, the GoiTeTlloTS concluded that the eonsultation diseussions had been exhausted and that the orderly closure strategy remained the m05t appTopriate course of action. The GoN'ernors therefore proceeded Mqth implementation of the orderl}, ￿nd-dO￿Tr plan, while continlling to monitor liquidity, funding and stakeholder obligations. To support the orderly elosure strateg),, the Goi'ernors secured a Committed secured bridging terni loan faeility. The faeility provid&s funding of up to £2.5 million, Mryth a term of nine mnnths, and is secured b) fixed and floating Charges over the Sehool's assets and Properties. The purpose of the facility includes working capital, operating expenseb, LIosuTe-related LOStS> professional fees and support for the implementation of the School's closure strategy. Repayment is due b}, 31 Deeember 2026, and is expceted to be achieTred through the Sale of assets, including the Property, for whieh the school is in the PTocess of maTketing at the date of approval of these financial statements. As the Goi'ernors, subsequent to 31 August 20¥, but prior to the signing of these financial staternents, no longer eonsider that the School wryll continue to trade as a going eoneern, these financial btatements have not been prepared on a going concern basis. Instead, they ha￿e been prepared on a break-up basis. In preparing the financial statements on this basis, the GoNernors haNe assessed the carrying value of various assets by referenee to estimated recoN'erable amounts and have assessed liabilities b) reference to expected settlement arnounts, taking account of the inforn]ation available up to the date of approval of the financial statements. The financial statements do not inelude proiqsions for future operating losses or foT closure-related Mqnd-upy redundancyy decomn]issioning or similar costs ￿here no legal or constructive obligation existed at 31 August 2024. Such eosts arise as a consequence of decisions, announcements and eonsultations eompleted after the balanee sheet date and Mqll be recognised in the period in whieh the reL￿'allt recognition eriteTia are met. PUBLIC BENEFIT Alderley Edge School fur Girls is committed to the aim of proNqding public benefit, and the trustees have considered the Charity Commi,ssion's published guidance on public benefit. The School takes part in rnany aetiiqties that proiryde benefit to the local Community.. These actiNities range frorn making Sehool faeilities aTrailable to otheT local Sehools, to pupils visiting local care homes, to inviting local residentsto attend pupil music and dramaperformances. Thefull list of these actiNryties is recorded in a register maintained by the School. SLholar5hips and bursaries are uffered at the diseretion of the Governing Bodyy based on academic excellence, means testing for Bursary awards, and on the ongoing ability of the School to fund these awaTds. Thc Sehool awards Means tested bursaTies to pupils who wollld not othernise be able to afford the sehool fees. The systems usedto evaluate the means testing al'e reNryei￿ed continually and Nryll continue to be developed as necessary. During the yeaT, the School awarded bursaTies, scholarships and discounts totalling £611,794 (2023: £671,339). This figure includes means tested bursary awards. Page 10 Alderley Edge School for Girls GOVERNORS, REPORT and STRATEGIC REPORT (continued) RISK I￿NAGEmET+rT The Governing Body has ultimate responsibility for managing risk faced by the Sehool. The Governors Continue to examine the prineipal areas of the sehool's operation and eonsider the major risks identified in each of these areas. The risk management process identifies risks, assesses their impact and likelihood and, Ivhere necessary, recommends Controls to mitigate against them. These risks and controls aTe summarised in the School's risk register; each category of risk is oTreTseen b), a named Governor and member of SLT. The risks are monitored and the Risk Register is updated regularl}. and PTovided to the Board for rewew. The Sehool's key eontrols are: Fornial agendas for all Board and Committee meetings, followed by minutes and actions required Regularly reviewed formal NTitten polieies Robust financial eontrols, including segregation of duties and authorisation and approval levels Robust safer reeruitment processes Clear organisational structure and lines of reporting Comprehensive strategie planning, finaneial planning, management aeeounts and budgeting. In light of the post balance sheet events described above, the principal risks now monitored by the Governors include liquidit}', asset realisation: stakeholder communications, pupil transition: staff consultation and redundancy processes: compliance with legal and regulatory obligations, and the orderly settlement of liabilities. The Governors have secured additional funding, prepared wind-dom forecasts and implemented enhanced governance and monitoring arrangements to manage these risks through the planned closure period. STATEMENf AS TO DISCLOSURE OF INFORMATION TO AUDITORS The directors at the time when this Director's report is approved hai'e eonfirn]ed that- so far a5 the directors are awaTe, there is no relevant audit inforn]ation of which the company's auditors are unllware, and they have taken all the steps that ought to have been taken as a diTector in order to be aware of any information needed by the compan} s auditors in connection M4th preparing their report and to establish that the company's auditors are awaTe of that inforn]ation. AUDrroRS Crowe u.tc LLP has expressed its Thillingness to be reappointed as statutory auditor. This report, which incoryoTates the Strategic Report, wa5 appToved by the Board of Governors on 17 July 2026. Mrs C Lowe Chair of Governors Alderley Edge School for Girls Wilrnslow Road AldeTley Edge Cheshire SK9 7QE Pagell Alderley Edge School for Girls STATEMEwf OF GOVERNORS, RESPONSIBILITIES The governoTS are responsible for preparing the Governors, Report & Strategie Report and the financial statements in accordance wryth applicable law and regulations. Company lam requires the governors to prepare financial statements for eaeh financial year. Under that law the governors have elected to prepare the finaneial statements in aceordance Mqth United Kingdon] Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applieable law. Under eompany law the goilernors must not approve the financial statements unless they are satisfied that they give a true and fair iqeMT of the state of affairs of the Company and the group and of the profit OT loss of the group forthat peTiod. In preparing these financial statements, the goveTnors are required to: select suitable aceounting polieies and then applv them eonsistently; make judgments and aeeounting estimates that are reasonable and prndent- state whether applicable UKAecounting Standards hai'e been folloMTed, subjeetto an}'material departures disclosed and explained in the financial statements- PTepaTe the financial statements on the going concern basis unless it is inappTopriate to presume that the compan}, Mryll continue in business. The governoTS aTe responsible for keeping adequate aecounting records that are sufficient to show and explain the company and group's transactions and diselose Mryth reasonable aceuraey at an￿ time the financial position of the eompany and group and enable them to ensure that the financial statements comply wryth the Cornpanies Act 2006. They aTe also Tesponsible foT safeguarding the assets of the company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Mrs C Lowe Chair of Goven]OTS 17 Jul 2026 Alderley Edge School for Girls Wilmslow Road AldeTley Edge Cheshire SK9 7QE Page 12 Independent Auditor's Report to the Members of Alderley Edge School for Girls Opinion We have audited the tinancial stateiments of Alderley Edge School for Girls for the year ended 31 August 2024 which con)prise the Consolidated and School Stalement of Financial Activities, the Consolidated and School Balance Sheets and the Consolidated Cash Flow Statement and framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generall>. Accepted Accounting Pra¢ti¢e). In our opinion the financial statements.. give a true and fair view of the state of the group's and the charitable company's affairs as at 31 August 2024 and of the group's incoming resources and application of resources, including its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Ii)teriiational Standards on Auditiiig {UK) {ISAs (UK)) and applicable law. Our responsibilities under lho.qe standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. W¢ are independent of the group in accordai)ce wich the ethical requirenients tl)at are relevant to our audit of the finaiicial statements iii the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We beliei'e that the audit evidence we have obtained is sutTicient and appropriate lo provide a basis for our opinion. Emphasis of matter- Financial statements prepared on a basis other than going concern We draw atcention to the Accounting policies 'other than going concem break up basis section Nvithin the financial statemenis which explains that the charitable companv ceased to trade and the school closed on 26 Jiine 2026 and therefore the directors do not consider it to be appropriate to adopt the going concern basis of accounting in the preparation of the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in the Basis of preparation. Our opinion is not modified in respect of this matter. Emphasis of matter in relation to the recoTr'erable value of the building and settlement of We draw attention to the Accounting policies 'other than going concem - break up basis, The company is marketing a property for sale at a value which is in excess of the nct book value. Furihermore the company took out a loan facility of £2.5m with a repayment date of 31 December 2026 which the directors expect co be repaid through the sale of the property. However, there is no firm sales contract in place and given the nature of the premises there may be great volatility over the actual amount realised and therefore the amount available to settle the liabilities. Our opinion is not moditied in respect ot'this matter. Page 13 Other information The Governors are responsible for the other information contained within the annual report. The other information comprises the inforniation included in the annual rcport, other than the financial statemtnts and our auditor's report thereon. Our opinion on the financial stafrments does not eover the oiher infom)alion and, except to ihe extenl oihemise explieiil J slated in our report, we do not express any form of assurance conclusion thereon. Our rcsponsibility is to read the othcr information and, in doing so, consider whcthcr the othcr information is rnateriall). inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detetinine whether this gives rise to a material misstatcment in the finanLial statements themselves. If. based on the work we have perfotined, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the Governors, retx)rt, ￿'hICh includes the directors, report prepared for the purposes of Company law, for the financial year for which the financial statements are prepared is consistent with the financial staiements; and the directors, report included within the Governors, report have been prepared in a¢cordan¢e with applicable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have not identified material Inisstatements in the directors" report included within the Governors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. the parent company has not kept adequate accounting records. or the parent company financial statements are not in agreement with the accounting records and returns. or certain disclosures of Governors, remuneration specified by law are not made- or we have not received all the inforniation and explanations wc rcquire for our audit- or Responsibilities of Governors As explained more fully in the Governors. responsibilities statement set out on page l O, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible tor the preparation of the financial statements and for being satistied thac they give a true and fair view. and for such internal control as the Governors detennine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Page 14 In preparing the financial slatements, the Governors are responsible for assessing the charilable company's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless che Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not 3 guarantee that an audit conducted in accordance M'ith ISAS (UK) will always detect a material misstatement whcn it exists. Misstatcmcnts can arise from fraud or error and are considcrcd matcrial if, individually or in thc aggrcgate, they could reasonably be expccted to influcncc thc cconomic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance ￿'1th la￿'S and regulations are set out below. A further description of our responsibilities for the audit of the financial statements is located on the inancial Rcporting Council's wcbsitc at.. ￿.11.￿V.frc.or T uk/auditorsirs 01)sibilitics. This dcscription fornis part of our auditor's report. Extent to Ivhich the audit was considered capable of detecting irregularities, including fraud Lrregularities, including fraud, are instances of non-compliance with laws and regulations. We idcntificd and asscsscd thc risks of matcrial misstatcment of the financial statcmcnts from irregularities, whether due to fraud or error, and discussed these between our audit team members. We thcn designed and perfornied audit procedures responsive to those risks, including obtaining audit evidencc sufficient and appropriate to provide a basis for our opinion. W¢ obtained an understsnding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the detemiination of malerial amounts and dis¢losures in the financial statements, including financial reporting legislation and the Charities SORP (FRS 102), and local tax regulations. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition. we considered provisions of other laws and regulations Ihat do not have a direct effect on the financial statements but compliance ivith wliich might be necessary. to the charitable company's ability to operate or to avoid a material penalty. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal ¢orrespondence, it any. We also considered che opportunities and incentives that may exist within the group for fraud. We identified the greatesc risk of material iinpacl on the financial statements from itTe2ularilies, including traud, to be w'ithin the oi'etTide of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance Committee about their ow'n idencilicacion and assessment of the risks ot irregularities. sample testing on the posting of journals, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with govemance. Page 15 Owing to the inherent limitrdlions of an audit, there is an unavoidable risk that we may not have detected some material Iniss(atements in the financial statements: even though we have properl J. planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations (irregularities) is from the events and transactions retlected in the financial statements, the less likely che inherently limited procedures required by audicing standards would identity it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities: as these may involve collusion, forgery, intentional omissions. misrepresentations, or the override of intemal concrols. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations. Use of our report This report is made solcly to the charitable compan}, s mernbers, as d body, in accordance with Chapter 3 of part 16 of the Companies Act 2006, and to thc charitablc company's GoNcrnors, as a bod},, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stAte t() the charitable company's members and Governors those matters we are required to Sta￿ to them in an auditor's report and for no other putyose. To the fullest extent permilled by law, we do not accept or assume responsibilily to aiiyone other than the charitable company, the charitable company's members as a body and the charitable company's Govemors as a bod J., for our audit work, for this report, or for the opinions we have tonned. Kathryn Paul Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 3rd Floor St George's House 56 Pecer Street Manchester M2 3NQ 20 Jul 2026 Page 16 Alderley Edge School for Girls CONSOLIDATED STATEMENT OF FINANCIAL AcfIviTIES (INCORPOIL4TING INCOME AND EXPENDITURE AccouNr) for the year ended 31 August 2024 Restricted Funds Endowed Fund5 Unrestricted Fund5 Tota] 2024 Total 20Q Note INCOMING RESOURCES Charitable aCti￿tieS Seliool fees Other ancillary income Ib Ic 6,079,066 34,083 6.079,066 34,083 5.675,217 41,822 Other trading acti￿tieS ActiMties for generating funds Other aetiNitie5 Government grant income ia 25,l2l 47,295 22,545 25,121 47.295 22,545 23,551 32,894 11,615 Investments Investinent incorne 55,946 55,946 12,518 TOTAL INCOMING RESOURCFS 6,264,056 6,264.056 5,797.617 Raising funds Trading costs of the subsidiary Fiindraising costs Financiiig costs 1,081 3.905 2,972 1,081 3,905 2,972 770 4,047 3,720 7,958 7,958 8,537 ChuTituble 4ctivitiets- School operating costs Teaching costs Welfare PreTnise5 Support and governan 3,979,586 558,681 747,176 922,834 3,979.586 558,681 747,L76 922,834 3.662,717 498,784 651,047 79Q,109 6,208,277 6,208,277 5,602,657 TOTAL RESOURCES EXPENDED 6.216.235 6,216.235 5,611,194 Fund Balat)ees At I September 2023 Net liicomiiig / (Outgoing) Resuurees Transfers between Funds 39,380 30,932 5,925,147 47,821 5,995,459 47,821 5,809,036 186.423 (39,3801 326 39,054 FUND BAL4NCES At 31 AUGusf 2024 31,258 6,012,022 6,043,280 5,995,459 The school has no recognised gains or losses other than its surplus for the year. All activities were operating during the year ended 31 August 2024. Subsequent posi balance sheet events mean that the financial statements have been prepared on a break-up basis, as explained in the accounting policies and Note 17. The notes on pages 28 to 45 forn] part of these aeeounts. Page 17 Alderley Edge School for Girls COMPANY STATEMENT OF FINANCtAL ACTIVITIES (INCORPOIL4TING INCOME AND EXPENDITURE AccouNr) for the year ended 31 August 2024 Restricted Funds Endowed Unrestricted Fund5 Fiinds Total 2024 Total 2023 Note INCOMING RESOURCES Charitable aCti￿tieS Seliool fees Other ancillary income Ib Ic 6.079,066 34,083 6,079.066 34,083 5,675.217 41,822 Other trading acti￿tieS ActiMties for generating funds Other aetiNitie5 Government grant income ia 21,837 47.295 22,545 21,837 47.295 22,545 32.894 11,615 Investments Investinent incorne 55,946 55,946 12.518 TOTAI. INCOMING RESOURCES 6,260,772 6,260,772 5,794,077 EXPENDrruRE Raising funds Fundraising costs Financiiig costs 3,905 2,972 3,905 2,972 4,047 3,720 6,877 6,877 7,767 Charitable acliTrTrties- SehoDI operating costs Teaching costs Welfare Premises Support and governance 3,979,586 558,681 747,176 922,834 3,979,586 558,681 747,176 922,834 3,662,717 498,784 651,047 790,109 6,208,277 6.208.277 5.602.657 TOTAL RESOURCES 6,215,154 6,215,154 5,610,424 Fiind Balaiiees At L September 2023 Net Incoming I Ioutgtsing) Resources Transfers between Funds 39.380 30,932 5.935,833 45,618 39,054 6,006,M5 45,618 5.822,492 183,653 (39,3801 326 FUND BAIANCES At 31 AUGUST 2024 31,258 6,020,505 6,051,763 6,006,145 The school has no recognised gains or losses other than its net result for the year. All activities were operating during the year ended 31 August 2094. gubsequent post balance sheet events mean that Ihe financial statements have been prepared on a break-up basis, as explained in the accounting policies gnd Note 17. The notes on pages 28 to 45 foLTh part of these accounts. Page18 Alderley Edge School for Girls CONSOLIDATED BALANCE SHEET 31 August 2024 Company Registration No: 2659703 2024 2023 Note FIXED ASSETS Tangible fixed assets 5,852,715 5,967,932 CURRENf ASSETS Stoek- Finishcd go(Kls Debtors Cash at bank and in hand 4,061 140,967 1,699,958 4,855 173,850 1,208,853 1,844,986 1,387,558 CREDITORS: Amounts falling due thin one year io (1,654,421) (1,360,028) NET CURREwf ASSETS / (LL4BILITIES) 190,565 27,530 TOTAL ASSETS LESS CURRENr IIABILITIES 6,043,280 5,995,462 TOTAL NET ASSETS 6,043,280 5,995,462 Unrestricted funds.. General fun(L8 Restricted funds Endumed funds ila lib lic 6,012,022 5,925,150 39,380 30,932 31,258 6,043,280 5,995,462 The financial statements weTe approi'ed and authorised foT issue by the Board of Governors on 17 July 2026. Mrs C Lowe Chair of GovernoTS The notes on pages 28 to 45 fonn part of these accounts Page 19 Alderley Edge School for Girls COMPANY BALANCE SHEET 31 August 2024 Company Registration No: 2659703 2024 2023 Note FIXED ASSETS Tangible fixed assets 5,852,715 5,967,932 CURREwf ASSETS Stoeks - Finished Goods Debtors Cash at bank and in hand 4,061 152,034 1,696,249 4,855 184,147 1,206,727 1,852,344 1,395,729 CREDITORS: Amounts falling due Mqthin one year io (1,653,296) (1,357,515) NET CURRENf ASSETS / (LIABILITIES) 199,048 38,214 TOTAL ASSETS tESS CURRENr LIABILITIES 6,051,763 6,006,146 TOTAL NET ASSETS 6,051,763 6,006,146 Unrestricted funds.. General fund5 Restricted funds Endowed funds ila lib lic 6,020,505 5,935,834 39,380 30,932 31,258 6,051,763 6,006,146 The financial statements were approi'ed and authorised for issue by the Board of Governors on 17 Jul}, 2026. Mrs C Lowe Chair of GoN'emors The notes on pages 28 to 45 form part of these aeeowits. Page 20 Alderley Edge School for Girls CONSOLIDATED CASHFLOW STATEMENT for the year ended 31 August 2024 Note 2024 2023 NET CASH (INFLOW) FROM OPEIL4TIONS 581,719 727,143 ISH FMIWS FROM INVEsfING AcrtVlTIES Interest reeeiil Pasqnents to aequire tangible fixed assets 55,946 (146,559) 12,518 {146,196) NET CASH USED BY INVESTING ACTIVITILS (90,613) (133,678) CHANGE IN CASH AND CASH EQUIVALETrrfs IN THE YEAR 491,106 593,465 CASH AND CASH EQUtVALENrs AT START OF THE PEtUOD 1.208,853 615.388 CASH AND CASH EQUIVAIENrs AT THE END OF THE PEIUOD 1,699,959 1,208,853 Reconeiliation of net (outgoing) resources to net cash oufflow from operating actiiwities.. 2024 2023 Net incomings/(outgoings) Depreeiation Interest receivable Ilncrease)/deerease in stoek {Increase)Ideerease in debtors IneTease/(decTease) in Creditors 47,821 261,776 (55,946) 794 32,883 294,391 186.423 248,814 (12,518) 5,192 7,200 292,032 Net cash inflow (outflow) from operating activities 581,719 727,143 Page 21 Alderley Edge School for Girls CONSOLIDATED CASHFLOW STATEMENT (cowfINUED) for the year ended 31 August 2024 b) Analysis of ehanges in net eash resouTees 2024 2023 Cash at Bank 1,699,959 1,208,853 1,699,959 1,208,853 The notes on pages 20 to 41 form part of these accounts. Page 22 Alderley Edge School for Girls AccouwfING POLICIES for the year ended 31 August 2024 BASIS OF PREPARATION The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 The Fin￿]CIal Reporting Standard applicable in the UK and Republic of Ireland and the Charities SOIIP (FRS 102) applicable to accounting periods beginning on or after l January 2019. Alderley Edge School for Girls is a public benefit entity for the purposes of FRS 102. I"he functional currency of the School is considered to be GBP because that is the currency of the primary economic environment in which the School operates. Thc financial slalcmcnts havc not been prcparcd on a going concern basis. Following the year end and bLfnrc thL finaneial %tatemLnts Th'¢rc approved, the CJovLrnors conelud¢d that th¢ School ].% no longer financially sustainable as a Continuing educational op¢ration and ¢ontimi¢d an ord¢rly closure strategv following the Summer Term 2026. Accordingly, the financial statements hav¢ been prep2wed on a break-up basis. Please refer to page 27 for further details. The School is a Public Benefit Entity registered as a charity in England and Wales, and a company limited by guarantee. It was incorporated on I st November 1991 (company number.. 2659703) and registered as a charity on 6th December 1991 (charity number: 1006726). Details of the Scliool's registered office can be found on page 4. BASIS OF CONSOUDATION The accounts have been eonsoliaated on a line by line basis to include the School's wholly owned non- charitable trading company subsidiary, A.E.S.G. Developments Limited. The School has not taken advantage of the exemption ai'ailable to a qualifying entity in FRS 102 from thc requiT¢mcnt to prcscnt a charity. onl}, Cash FIOM, Statement Mryth the consolidated financial statements. DEPRECIATION Depreciation is provided in Order to MTite off each asset, less its estimated residual value, over their useful IiiTes at the follomqng rates: Buildings straight line Buildi1￿ in]proN'en]ents straight line Plant and equipment 20% straight line Fixtures and fittings 20% strai2ht line Cornputer equipment 20%- 33,13% straight line Capital items eosting I￿$ than £250 are MTitten off as an expense as acquired. STOCKS Stoeks dre valued at the lower of cost and net realisable ITalue, after making due allowance for obsolete and slow moving items. Page 23 Alderley Edge School for Girls AccouwfING POLICIES for the year ended 31 August 2024 LEASES Where assets are finaneed by leasing agreements that give Tights approximating to ownership ("finance lease"), the assets are treated as if thei hadbeen Purchased outright. The amount capitalised is the present Iwalue of the minimum lease payments pa)Tad ble during the lease tern). The corresponding leasing commitments are shown as obligations to the lessor. Lease pa)ments are treated as conblsting of capital and interest elements, and the interest is eharged to the profit and loss account in proportion to the remaining balance outstanding. All other leases are "operating leases" and the annual Tentals are charged to profit and lo￿ on a straight line basis over the terni of the lease. INCOME Income from School Fees represents fees earned in respect of tuition given during the Trear. Fees received in respect of tuition to be given after the year end aTe included in creditors as fees received in advance. Fees receivable are stated after deducting bursaries and scholarships granted by the sehool. Scholarships and bursaries aTe awarded at the discretion of the GoTreriiiiig Body> based on academic excellence in the case of Scholarship awards, and are means tested for Bursary awards. Other ineome, including legacies and donations, is accounted for as and when entitlement arises, the amount Can be rcliably quantified and the econnmie benefit to the School is eonsidered probable. Legacies receiiTed in the foTm of property are eredited at the lower of probate and market value. Income from government grants is reeognised when there is entitlement to the funds, anyperformance eonditions attached to the grants haNe been met, it is probable that the income Mryll be reeeiTred and the amount ean be measured Teliabl). Where entitlen]ents occurbefore income is Teceii'ed, the income is accrued. Where income is received in advance of there being entitlement to the funds the income is deferred. EXPENDITURE Expenditure is accrued as soon as a liability is eonsidered PTobable, discounted to PTesent value for longer term liabilities. Costs of generating funds are those Costs ineurred in attracting i'oluntary income and those Incu￿ed in trading actiNryties that raise funds. Charitable aetiiqties inelude expenditUTe associated Mryth the objects of the School and include both direct Costs and support Costs relating to this activity. Governanee Costs include those incurred in the goi'ernance of the School and its assets and are primarily associated hryth constitutional and statutory Tequirements. PROVISIONS AND CInSURE-REIATED COSTS Proiisions are reeognised onl}. where the School has a present legal or constructive obligation at the balanee shcct date as a Tesult of a past eiTent, it is probable that a transfeT of ceonomie benefits will be required to settle the obligation, and the amount Can be estin]ated reliably. The finaneial statements do not inelude pioiqsiong for future operating losses or for elosure-related redundaney, wind-up, deeommissioning, professional or similar costs where the obligation arose after 31 August 2024. Such costs wryll be reeognised in the period in which the relevant obligation arises and the Teeognition criteria aTe n]et. Page 24 Alderley Edge School for Girls AccouwfING POLICIES for the year ended 31 August 2024 TAXATION The School is an exernpt charity and benefits b}, being exempt from eory)oration tax on income it receives from tuition fees, interest and rents. The School is exernpt from le￿ing VAT on seThqces it proiqdes to pupils. For this Teason, the School is generally unable to reeover input VAT it suffers on goods and services purehased, whieh is therefore included in the eost of these goods and senryees. The subsidiary, AESG Developments Ltd, is de-registered for VAT when it eeased trading in 2021. SCHOOL TRIPS The School Collects monies in reb'pect of trips and pays these monies out in full. As. these funds do not represent income for the Sehool, they are not accounted for in the Statement of Financial Activities. PENSION SCHEME The School eontributes to the Teaehers. Pension Defined Benefit Seheme at rates set by the Seheme Actuary and advised to the Sehool by the Scheme Admini.strator. The Sehcme is a multi-emplo}er pension seheme and it is not possible to identify the assets and liabilities of the Scheme whieh are attributable to the School. In aecordance Nqth FRS 102 the Scheme is aecounted for as a defined contribution scheme and contributions are aceounted for when adiised as due by the scheme A(]ministrator. Thc Sehool a]so eontributes to a group personal pension scheme for non-teaehing stsff. All non- teaehing staff aTe eligible to take part. This scheme is CUTrently with Scottish Widows and is a defined contTibution scheme. The Sehool used to contribute to the Pensions Trust Grovch Plan for many of the non-teaehing staff. This is in most respects a money Purebase a￿angemellt, but does include certain guaranteed benefit elements. The Plan is a multi-employer scheme as it is not possible in the noTmal course of eiTents to identify the share of the underlying assets belonging to the indiiidual participating employers and aceordingl}', in aceordanee ￿1th FRS 102, is aecounted for as a defined contribution scheme with Contributions being recorded as they beeome pajable. DONATIONS Donations received for the general purposes of the school are eredited to "other unrestricted funds" Donations subject to speeifie Mryshes of the donors are Ca￿led to Televant Testricted funds. FUND ACCOUNfiNG The School has i'arious tsiies of funds for which it IS responsible and which require separate (liselosure. These are as follows.. Unrestricted funds Funds which are expendable at the discretion of the Governors in furtheranee of the objects of the School. In addition to expenditure on tuition, sueh funds may be held in order to finance eapital investment and 'QTking capital. Donations or legacies receiiied which are earmarked by the donor for speeifie pury)oses. Such purposes are Mrythin the OiTerall aims of the Sehool. Restricted funds Designated ￿ndS The School may at its diseretion set aside funds foT specific puryoses which would othentyise forn] part of the general TeseTves of the School. Page 25 Alderley Edge School for Girls AccouwfING POLICIES for the year ended 31 August 2024 Endo￿Thellt funds End0￿entS funds are funds for which the Goi'ernors must maintain the capital clemcnt but the ineoming resourees derived from the underlsqng endoTr￿ellt ￿lld assets ean be spent. Investments in subsidiaries are valued at cost less proirysion for impairment. FINANCL4L INSTRUMEf+rrs Basic financial instruments are initially recogni5ed at transaction iTalue and subsequently n]easured at amortised eost with the exeeption of iniTestments which are held at fair value. Finaneial assets held at amortised cost eomprise cash at bank and in hand. together Mryth trade and other debtors. A speeifie promsion is made for debts for which reeoNeTabilit5T is in doubt. at bank and in hand is defined as all cash held in instant access baiik accounts and used as WOTking capital. Financial liabilities held at amortised cost Comprise all creditors except social security and other taxes and proirysions. CRITICAL ACCOUNTING JUDGEMENfs AND KEY SOURCES OF ESTIMATION UNCERTAINrY In the application of the aeeounting polieies, Trustees are Tequired to make jlldgement, estimates, and assun]ptions about the ca￿￿ng iTalue of assets and liabilities that aTe not Teadily appaTent frorn other sources. The estimates and underlying assumptions are based on historieal experience and other factors that are Considered to be relevant. Actual results may differ from these estimates. The estimates and underl)qng assumptions are Miewed on an ongoing basis. ReNqsions to accounting estimates are recognised in the period in whieh the estimate is reNqsed if the revision affects only that period, or in the period of the revision and ￿tUre periods if the reNision affected current and future periods. In PTepaTing these financial staten]ents, the GoveTlloTS have n]ade the follomryng significant judgements and estimates.. Basis of preparation: The Governors hai'e eoneluded that the financial statements should not be prepared on a going concern basis beeause, before approiwal of the financial statements. the Governors Confirmed an orderly elosuTe strategy follomqng the Summer Term 2026. The financial statements haTr'e therefoTe been prepared on a break-up basis. ReeoveTable amount of tangible fixed assets.. The Ca￿ryng value of tangible fixed assets has been assessed by reference to estimated recO￿eTable amounts, expected disposal routes, property valuation information and the expected orderly w1nd-doN￿ process. The actual amount realised may (liffer from Current estirnates because it Mqll depend on market eonditions, timing of disposals, transaction costs) planning or title n]atter5 and purchaser demand. Given the nature of the PTemises there may be great volatility oper the actual omount realised as a result of the sale of these preniises. Reeoverability of debtors- The Governors have aSse￿ed fee debtors and other debtor balances by reference to expeeted recoverability on a break-up basis. The actual amounts recovered may differ frorn the pro￿s1O￿ recognised, particularly as the School proeeeds through elosure and i￿nd-dow￿. Liabilities and elosure-related costs.. The Governors have eonsidered whieh liabilities existed at 31 August 2024 and which obligations aTose only as a consequence of post-year-end decisions, aiinouiicements and consultations. FutUTe operating losses aiid ClosUT￿re1ated redundancyy ThiIid- up, decommissioning and similar eosts have not been recognised at 31 August 2024 unless the recognition eTiteTia for a liability or PTONry5ion were met at that date. Contingent liabilities: The Governors have considered the existing contingent liability in relation to the Woodard Schoo15 legal mortgage and whether the post-yeaT-end closuTe strategy affects the likelihood, tin]ing or C1￿￿1ficdtIDn of any amuunt pa)Tfable. Page 26 Alderley Edge School for Girls AccouwfING POLICIES for the year ended 31 August 2024 BASIS OF PREPARATION OTHER THAN GOING CONCERN- BREAK-UP BASIS Since 31 August 2024, there haiTe been significant deTrelopments in relation to the future of the Sehool. Follomqng the year end, the GO￿ernor5 undertook a strategie re￿eN, process to assess the School's future liability. This process included operational restructuring, cost reduction measures, exploration of rnerger and partnership opportunities, engagement Mryth potential purchasers and investors, consideration of refinaneing options and assessment of an OTdeTI}' elosuTe strategy. External ad￿serS were engaged to assist the Governors in r￿QeThing the options ai'ailable. On 24 February 2026, the Governors announeed a proposal to close Alderley Edge Sehool foT Girls at the end of the 2025126 acaden]ic )Tear. The proposal included all &spects and activities of the School, from Nursery through to the Prep School, Senior School and Sixth Fonn. A formal staff consultation process was eommcneed follo1￿ng the announecment. In April 2026, follomqng completion of the consultation process, the Governors concluded that no viahlc altCTnatiNe or rcseue plan had been pr&sentcd and that the consultation diswqsions had been exhausted. The intention theTefoTe remains to close the Sehool at the end of the 2025126 aeademie year and to implen]ent an ordeTli il1nd-doTr￿ process. Notices have been served or arranged for relevant staff in aeeordanee with the applicable employment processes, and decommissioning and Mqnd-doThm planning is ongoing. To support the orderly elosure and Mqnd-domm strategy, the Governors secured a committed secured bridging term loan faeilit5'. The facility is seeured by fixed and floating charg&q oi'er the Sehool's assets and properties, ineluding legal chaTges oTrer property assets and eharges oNer bank aecounts, insurance proceeds, book debts, iniTestments and substantially all other asset5. The puryose of the facility includes working capital, operating expenses, closuTe-related costs> professional fees and support for the implementation of the closure strategy. Repayment is due by 31 December 2026, and is expected to be achiel'ed through the sale of assets, including the PToperty, for which the sehool is in the process of marketing at the date of approval of these financial statements. The Governors haN'e eonsidered the impaet ol these post balanee sheet events on the basis of preparation of the financial statements. As the Governors no longer consider that the Sehool wryll Continue to trade as a going eoneeTn, the financial statements hai'e been prepared on a bTeak-up basis rather than a going concern basis. The Gol'ernors hai'e assessed the Larr)ingN'alue of Narious assets by reference to estimated recoverable amounts and haNe assessed liabilities by reference to expected settlement amounts. The goN'ernors baiTe reNiewed the carrying i'alue of the fixed assets. A valuation has been ubtained in respect of the freehold prernise,q whith is in excess of the current carr5qng value and the property is CUTrently being inarketed, theTefoir the Ca￿ng value has not been reduced. Howevergiven the nature of the premises, there mas'be greatvolatility oi'erthe aetual amount realised as a re.sult of the sale of these premi.ses. Other fixed assets are unlikely to realise any signifieant value and Mqll be fully depTeciated in the financial yeaT to 31 August 2025. On completion of the sale of the property, a liability amounting to £i.08m Mryll erystallise to the former oMry]ers of the site. Page 27 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 The elosure deeision and assoeiated redundaney, Mqnd-up, decommissioning and similar eosts arose after 31 August 2024. The financial statements therefore do not include proNisions foT those costs where no present legal or constructive obligation existed at the balanee sheet date. Such costs Mqll be reeognised in 8ubsequcnt acenunting periods when the relevant recognition criteria are met. The GoN'ernors haiTe considered the financial effect of the post balance sheet events. Other than any adjustn]ents made in preparing the financial sttatements on a break-up basis, the full fiiianLial effeLt cannot be estimated Mryth sufficient reliability at the date of approi'al because it depends on the timing and value of asset disposals, debtor reeoveries, elosure eosts and the final settlement of liabilities. ia ACTivrrIFS FOR GENERATING FUNDS Consolidated Sehool 2024 2023 2024 2023 Fundraising Trading ineorne Hire of School premises 5,824 3,284 16,013 4.586 3,540 15,425 5,824 4.586 16,013 15,425 25,121 23,551 21,837 20,011 SCHOOL FEES 2024 2023 Fees reeeivables consist of.. Gross fees Less.. BursaTies, grants and allowanees 6,690,860 (611,794) 6,346,556 (671,339) 6,079,066 5,675,217 Seholarships, bursaries and other allowances were paid to 184 pupils (2023- 244). Within this means- tested bursaries totalling £317,873 ￿ere paid to 34 pupils (2023: £369,320 to 45 pupils}. Nursery grants of £12,143 (2023.. £20A85) were received from the government and paid out to parents. Page 28 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 ie OTHER ANCILLARY INCOME 2024 2023 Catering receipts Other ancillary ineome 11,967 22,116 14,110 27,712 34,083 41,822 Catering Teeeipts are monies reeeived from staff lunches and other ad hoc eatering supplies to staff and pupils. GOVERNMETrrr GRANf INCOME 2024 2023 Other grants receivable (EHCP Funding) 22,545 11,615 22,545 11,615 RESOURCES EXPENDED 2024 2023 Net outgoing resources are stated after charging.. ChaTltable expenditure includes: Deprecuatiun Operating leases/rentals 261.776 18,543 248,814 10,200 Governance costs inelude: Auditors, remuneration 19,838 12,430 Staff costs Comprise.. Wages and salaries Social seeurity costs Pension costs 3,376,205 325,573 612,909 3,153,165 306,556 551,130 4,314,687 4,010,851 Aggregate employee- benefits of key management personnel Wages and SalaTies includes 2 settlen]ent agreements and 5 redundancy pasqnents, totalling £104,118. Page 29 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 The average monthly number of employees during the year was.. 2024 2023 No Teaching staff Premises. and grounds Administration Other 61 61 20 32 28 116 iio The average numbers employed by the school during the year ealeulated on a ￿ll-time equiiTalent basis Thas.. 2024 2023 Teaehing Staff Premises and grounds Administration Other 49 16 li 24 81 90 Neither the governors nor persons connected with them receii'ed any remuneration. other than travel expenses in line Mryth the Sehool's Governors expense policy. During the year, £92 was reimbursed to i goiTeTlloT in respect of mileage expenses. 2024 2023 The numbeT of en]ployee5 whose income exceeded £60,000 was: £ioo.ooi to £iio,000 £90,001 to £ioo.000 £80,ooi to £90,000 £70,001 to £80,000 £60,001 to £70,000 Included in the above higher paid employees Thas 2 employees (2022: 2) aceruing pension benefits under a defined beiiefit scheine and i employee (2022.. 1) accruing benefits under a defiiied contribution pension schen]e. The aggregate employer pension contributions for the year were £31,226 (2023: £27.017). Page 30 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 ANALYSIS OF TOTAL RESOURCES EXPENDED Staff Costs Other Depreciation Total 2024 Tot 2023 COSTS OF GENEIL4TING FUNDS Trading en.sts of the subsi(]iar5' Fundraising eosts 1,081 3,905 1,081 3,905 770 4,047 Finaneing eosts 2,972 2,972 3,720 7,958 7,958 8,537 ACTtVITIES- SCHOOL OPERATING COSTS Teaching eosts Welfare Premises Support and governance 3,598,330 57,614 170,944 439,930 323,607 491,968 413,854 450,255 57,649 9,099 162,378 32,649 3,979,586 558,681 747,176 922,834 3,662,717 498,784 651,047 790,109 4,266,818 1,679,684 261,775 6,208,277 5,602,657 TOTAL 4,266,818 1,687,642 261,775 6,216,235 5,6Ji,194 Support and goveTnance costs may be sp]it as follows: 2024 2023 Staff Costs Marketing RecTUitrnent and Training Legal, Profesbional and otlieT Fees Depreciatioii Stationery, postage and telephone Insurances Bad Debt Writteii Off Computing Costs SundTI' Other Costs Audit and Aceountancy 519,999 65,378 28,108 71,666 32,649 42,139 31,239 471,394 52,654 30,154 32,132 16,526 41,532 29,378 11 54,371 26,121 31,326 19,838 36,528 36,705 30,675 12,430 TOTAL Page31 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 FINANCING COSTS 2024 2023 Bank charges 2,972 3,720 2,972 3,720 TAXATION As the school is a registered eharity, no provision is required for corporation tax. IM￿sTmENT INCOME 2024 2023 Bank interest re￿Illable 55,946 12,518 TANGIBI￿ FIXED ASSETS The governor% have reviewcd thL canying valuc Df the fixed a%qcts. A valuation has bccn obtained in respect of the freehold premises which is in excess of the cu￿ent caw'ing value and the property is currently beingT rnarketed, therefore the carrying7 value has not been reduced. Other tixed assels are unlikely to realise any significant value and will be fully depre¢ialed in ihe financial year to 31 Au&Just 2025. Consolidated and School Fixtures. fittings & con]puteT equipment Freehold land & buildings Plant and equipment Total C05t As at i September 2023 Additions Disposa15 7.733,757 53,789 417.716 1.605,222 9,756,695 25,902 66,869 146,560 (40,551) (632,828) (673,379) As at 31 August 2024 7.787.546 403,067 1,039.263 9.229,876 Depreciation As at i September 2023 Charge for the year Disposa15 2,050,611 155,864 367,577 1,370,576 3,788,764 19,246 86,666 261,776 (40,551) (632,828) (673,379) As at 31 August 2024 2,206,475 346,272 824,414 3.377,161 Net Bookvalue As at 31 August 2024 5,581,073 56,794 214,848 5.852,715 As at 31 August 2023 5,683,148 50,139 234,646 5,967,933 Page 32 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 AESG DEVELOPMENfs LIMITED AESG Developments Limited is a wholly 0￿￿ed subsidiary of Alderley Edge Sehool for Girls, and whose company number is 05213539. The company is registered in England. AESG Dwwelopments no longer sells uniform, unifonn is now sold by a third party, commission knryll eontinue to be paid to AESG Developments. An}, taxable profit is transferred as gift aid to Alderley Edge School for Girls. Summaries of the trading results and balanee sheet are showm below. Aeeounts will be filed Mrith the RegistraT of Companies. i) Profit and Loss account for the period to 31 August 2024 2024 2023 Turnover Cost of sales 3,284 3,540 Gr05s profit Administrative expenses 3,284 (955) 3,540 144) Operating (loss) / surplus 2,329 3,496 Interest payable and sirnilar charges (126) (726) Profit / (Ix>ss) on ordinary actiNqties before taxation 2,203 2,770 Gift aid paiqnent to AESG Retained (loss) / surplus 2,203 2,770 Page 33 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 ii) Balance Sheet at 31 August 2024 2024 2023 Stock Debtors Bank and cash 2,426 3,709 3,070 2,127 Net Current a&sets 6,135 5,197 Creditors (14,615) (15,880) Net eUTrent liabilities (8,480) (10,683) Net liabilities (8,480) (10,683} Share eapital Retained PTofits (8,480) (10,683) (8,479) (10,682} DEFfoRS Consolidated School 2024 2023 2024 2023 Fee debtOTS Less.. Bad debt pro￿510￿ 252,520 141,508 (171,701) (117,330) 252,519 141,509 (171,701) (117,330) 80,819 24,178 80,819 24,179 Prepairynents and accrued income Arnounts owed byAESG Developments lin]ited 60,148 149,671 57,723 146,601 13,493 13,367 140,967 173,849 152,034 184,147 Amounts owed by AESG Developments Limited are Tcpayable when cash surpluses allow, or on demand. Interest on the balance outstaiiding is chaTged at base rate. The Governors have assessed the recoverability of fee debtors, amounts owed by AESG Deielopments Limited and other debtor balances on a break-up basis. The bad debt provision has been reviewed by reference to expected recoverable amounts and the expected closure and wind- down pro¢¢ss. Page 34 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 io CREDITORS: Amounts falling due wrythin one year Consolidated 2024 2023 School 2024 2023 Trade Creditors Aeeruals and deferred income Other crcditi)r8 Other taxes and social security costs 142,277 117,799 1,276,182 118,163 331,145 33,807 920,178 74,898 141,152 117,799 1,276,182 118,163 328,632 33,807 920,178 74,898 1,654,421 1,360,028 1,653,296 1,357,515 Other creditors include fees paid in advance of £977,208 and rethndable deposits of £156,400. Deferred Ineome transactions are as follows.. 2024 2023 Deferred Income at i September 2023 Released from Prior Year Deferred in the Year Deferred Income as at 31 August 2024 Deferred Income comprises of a donation from the Pre-l0￿ed uniform shop and income reeeived in adNance for the School bus transport. The Governors have reviewed liabilities recognised at 31 August 2024 on a break-up basis. The finaneial staternents do not inelude Provisions for future operating los.ses or for closuTe-related redundancy> wrynd-upy decommissioning OT 5imilaT COSt5 where no present legal or constructive obligation existed at the balance sheet date. Such eosts will be recognisea in subsequent periods when the relevant recognition criteria are met. Page 35 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 li ALLOCATION OF THE CEL4RITY NET ASSETS Consolidated Tangible Fixed Assets Net CuTrent Assets Total 2024 The net assets are held for the Narious funds as folloM%- Unrcstrieted funds (ila) Restricted funds (ijb) Endowed funds (lie) 5,852,715 159,306 6,012,022 31,258 31,258 5,852,715 190,564 6,043,280 School Tangible Fixed Assets Net Current Assets Total 2024 Unrestrieted funds (ila) Restricted funds (lib) Endowed funds (lie) 5,852,715 167,789 6,020,505 31,258 31,258 5,852,715 199,047 6,051,763 Consolidated Tangible Fixed Assets Net Current Assets Total 2023 The net assets aTe held for the various funds as folloMs- Unrestrieted funds (ila) Designated funds (lib) Rebtricted fuiids (iic) Endowed funds (lid) 5,897,620 27,530 5,925,150 39,380 30,932 39,380 30,932 5,967,932 27,530 5,995,462 Page 36 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 li ALLOCATION OF THE CHARITY NET ASSETS Continued School Tangible Fixed Assets Net CuTrent Assets 2023 Total Unrestrieted funds (ila) Restricted funds (iibl Endowed funds (iic) 5,897,620 39,380 30,932 38,214 5,935,834 39,380 30,932 5,967,932 38,214 6,006,146 ila UNRESTRicfED FUNDS Consolidated 2024 2023 School 2024 2023 Balance brought forward I SeptembeT 2023 5,925,147 5,739,058 5,935,833 5,752,514 Net movement on fund Transfer from restricted funds Transfer from designated funds Transfer to endowed funds 47,821 39,380 186,423 45,618 39,380 183,653 (326) (334) (326) (334) Balance carried fonyard 31 August 2024 6,012,022 5,925,147 6,020,505 5,935,833 Page 37 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 lib REsTRI(￿ED FUNDS Consolidated and School Ati September 2023 Incoming Resources resouTces expended Transfers between funds At 31 August 2024 Millenniun] appeal MergeT balances Bursary Fund 10,344 9,404 19,632 -10,344 -9,404 -19,632 39,380 -39,380 Ati Ineoming Resources September resources expcnded 2022 Transfers bctwccn funds At 31 August 2023 Millennium appeal MergeT balances BuTsary Fund 10,344 9,404 19,632 10,344 9,404 19,632 39,380 39,380 The Millennium appeal was a fund-raising project to raise funds for major capital expenditure, which has now been transferred to unrestrieted funds. MergeT balances were remaining from m.hen St Hilarfs School meTged Mryth mount Cannel School in 1999 to forni Alderley Edge School for Girls, these have now been tran5feTred to unrestricted funds. The Bursary Fund aims to proNqde means tested bursary assistance to fan]ilies who cannot meet the full School fees. Bursaries aTe paid from unrestricted funds and therefore this has now been transferred to unrestricted funds and are full! expended as at 31 August 2024. Page 38 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 lic ENDOWED FUNDS Consolidated and School Ati September 2023 Incoming resouTces Resources expended Tran.sfer behveen funds At 31 August 2024 30,932 326 31,258 Ati Septen]ber 2022 Incoming resouTces Resources expended Transfer behyeen funds At 31 August 2023 30,598 334 30,932 These funds Tepresent Endowed Funds PTeviously held by St Hilary's Sehool before its meTger ith Mount Carniel Sehool and the subsequent forniation of Alderley Edge Sehool for Girls. The perniitted use of the incorne frorn these funds is in aceordanee Mryth the Nryshes of the original donors, being mainly the awarding of prizes and bursaries. 12 (YrHER OPERATING CHARGES At 31 August 2024 the future minimum lease pairnents under non-cancellable operating leases were as follows: 2024 2023 Within one s'ear Within h*"0 to five yeaTS Over five years 27,322 83,119 638,702 10,200 41,616 649,106 749,143 700,922 Page 39 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 13 FINANCIAL INSTRUMENrs 2024 2023 Financial assets measuTed at amortised cost (a) 1,779,459 1,478,054 Financial liabilities measured at amortised cost (b) 1,643,823 1,359,378 Net financial assets measured at amortised cost 135,636 118,676 The amount of stocks recognised in the SOFA is £0 (2023: £0) (a) Financial assets include cash, fee debtors, other debtOTS and accrued income (b) Financial liabilities include aceruals. trade creditors and other creditors Impairment losses charged to financial assets measured at amortised cost in the year amounted to £68,406 (2023 £41,285). Impairnient losses arise from bad debt provision. Page 40 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 PENSION SCHEMES Teachers, Pensions The School participates in the Teachers, Pension Schen]e ("the TPS") foT its teaching staff. The pension charge for the year ineludes eontributions payable to the TPS of £556,299 (2023: 504,734) and at the year end £216 (2023 - £0) M'as accrued in respect of contributions to this seheme. The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teaehers, Pensions Regulations 2010 (as amended) and The Teachers, Pension Seheme Regulations 2014 (as an]ended). Members contribute "pay as iou go" basis Mqth contributions from n]embeTS and the employer beii]g credited the Exehequer. Retirement and other penbion benefits are paid by public funds Provided by Parliament. The en]ployeT contributlOIl Tate set by the SecTetary of State follomryng schen]e valuation5 undertaken by the Government Actuary's Department. The most recent aetuarial valuation of the TPS was prcpared as at March 2020 and thc Valuation Rcport, which M'as published in October 2023. Following the Mccloud judgement, the remedy proposed that when benefits become pa}'able, eligible members ean seleet to reeeive them from either the refornied or legaey sehernes for the period i April 2015 to March 2022. The actuaTies haNe assun]ed that rnen]beTS aTe likely choose the option that proi4des them with the greater benefits, and preparing the 2020 valuation have valued the 'greater value, benefits for groups of relevant members. The valuation confirmed that the employer contribution rate for the TPS would incTease fron] 23.6% to 28.6% from i April 2024. Employers are also required to pay a scheme administration le￿ of 0.08% giving a total employer contribution rate of 28.68%. Support Staff Pension$ The Sehool participates in a pension Sebeme foT SUPPOrt staff Scottish Widows. Alderley Edge School for Girls paid eontributions at the rate of 6% and totalling £56,419 (2023 £46,618) during the aecounting period. Members paid contributions at a minimum rate of 3%. As at the balanee sheet date there weTe 49 active membeTS of the Seottish Widows sehen]e employed by Alderley Edge School for Girls. Pension costs for both sehemes are met from unTestrieted funds. Page 41 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 RELATED PARTY TRANSAcfioNS Mount Carn]el and St Hilary's Schools merged with effect fron] September 1999 and became Alderley Edge School for Girls. St Hilary's Sehool was part of Mroodard Schools {Midland Diiqsion) Limited and Mollnt Carmcl M'as founded by The Sisterg of St Joseph. Certain loans have been made to the merged School by these organisations to assist Nryth the merger, as disclosed in notes io, li and 12. These loans, as of OctobeT 2020, have been paid in full. The Sisters of St Joseph nominate a governor to the Board - this is eurrently Mrs R. Price. Rent of £10,404 per annurn is also paid to The Sisters for use of tennis Courts at Ryleys Lane. WoodaTd Schools a150 nominate a goiTernoT to the Board- this was Mr C Wright. 16 CONfINGENf LIABILITIES IMTing the year ended 31 August 2001, the School entered into a legal charge in favour of WoodaTd Schools (Midland Diiqsion) Iin]ited. Under the terms of the tharge, Woodard is entitled. upon the dissolution or winding up of the Sehool, to reeeive an amount equal to 18% of the Surplus assets Temaining after settlement of all debts, liabilities and the costs of dissolution. Follo￿￿ng the post-year-end decision to pursue an OTdeTly closure and mrynd-d0M￿ strategy, the Governors have reviewed the disclosuTe of this contingent liability. At 31 August 2024 no nding-up had oeeurred and no provision has been reeognised in these financial statements. 17 POST BAIANCE SHEET EVEr(rs Since 31 August 2024, there have been significant developments in relation to the future of the school. Following the year end, the Goi'ernors undertook a strategic reliew proce&s to assess the Sehool's future iqability- This proeess ineluded opeTational rest￿etur1￿g, cost Teduetion n]ea5ures, exploration of merger and partnership opportunities, engagement Nryth potential purchasers and iniiestors, eonsideration ot refinaneing options and assessment ot an orderly closure strategi,. External adNisers ￿ere engaged to assist the Governors in reNTreMryng the options al'ailable. Despite these efforts, no Trqable long-tenn solution iiTas identified M,hieb 'ould enable the School to continue operating on a sustainable basis. On 24 Febw 2026, the GoTrernors announced a proposal to Close Alderley Edge Sehool for Gir15 at the end ulthe 2025126 aLademic year, Mith the School Llosing tu pupils un Tuesda}, 26 June 2026. The proposal included all aspeets and actiiwities ot the School, from Nursery through to the Prep School, Senior Sehool and Sixth Forn]. A forn]al staff Consultation Process was commeneed folloThryng the announcement. In April 2026, following completion of the consultation process, and after exploring further options arising post annoiinceiMent of the closure. the Governors concluded that no viable alternative or reseue plan had been presented and that the Consultation discussions had been exhausted. The School subsequently elosed at the end of the 2025126 aeademie year and an orderlST wind-doThm proeess is in PTogress. Notiees have been senTed or arranged for rel￿,ant staff in aecordaiiee Mqth the applieable ernpl0￿ent processes, and deeominissioning and nd-doMTJ planning is ongoing. Page 42 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 To support the orderly elosure and hrynd-doilm strategy, the Governors secured a committed seeured bridging term loan facility. The facility proNqdes fL]nding of up to £2.5 million, the facility is secured by fixed and floating charges over the School's assets and properties, including legal Charges 0￿er property assets and charges over bank aceounts. insurance PTocc¢ds, bonk dcbLs, investments and.sub8tantiall5' all other a&seLs. The purpose ofthc facility includes working capital, opeTating expenses, closure-Telated costs, professional fees and support for the implementation of the closure strategy. Repaiqnent is expected to be aebieved through asset disposals. The closuTe decision and associated Tedundancy> i￿nd-uP1 decommissioning and similar costs arose after 31 August 2024. The financial statements therefore do not include provisions for those costs M,here no present legal or eon.qtructive nbligation existed at the balance sheet date. Such costs Mryll be Tecognised in subsequent accounting periods when the Tel￿,ant Tecognition criteria are met. The GoiTeTlloTS hai'e eonsideredthe financial effect of the post balance sheet events. Otherthan any adjustn]ents made in preparing the financial staternents on a break-up basis, the full financial effect eannot be estimated Mryth sufficient reliability at the date of approi'al because it depends on the timing and value of assct disposals, dcbtor Teeovcries, elosurc costs and the final settlement of liabilities. Page 43 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 18 CONSOLIDATED SOFA- COMPAIL4TIVE FIGURES BY FUND TYPE Restricted Endowed Unrestricted Total Total Note Fund5 Funds Funds 2024 2023 INCOMING RESOURCES Charitable actiFAties School fees Other an¢illary income 6,079,066 34,083 6,079.066 34,083 5,675.217 41,822 ie Other trading aCti￿tieS Actimties for generating funds Other activities Government Grant Ineome ia 25,121 47,295 22,545 25.121 47,295 22,545 23,551 32,894 11,615 InTrestments Investment in¢ome 55,946 55,946 12,518 TOTAL INCOMING 6,264,056 6,264,056 5,797,617 EXPENDITURE Trading cost5 of the subsidiary Fundraising etssts 1,081 3,905 1,081 3,905 770 4,047 Financing costs 2,972 2.972 3,720 7,958 7,958 8,537 Charitable aCti￿ties- School operating costs Teaching eo%ts Welfare Premises Support and governance 3,979&86 558,681 747.176 922,834 3,979,586 558,681 747,176 922,834 3,662,717 498,784 651.047 790,108 6,208.277 6,208,277 5,602.656 TOTAL RESOURCES EXPENDED 6,216,235 6,216,235 5,611,193 NET INCOMtNG RESOURCES Transfers between ￿ndS Fund balances At L September 2023 47,821 39,054 47,821 186,423 -39,380 326 39,380 30,932 5,925,147 5,995,459 5,809,036 FUND BAL4NCES At 31 AUGUST 2024 31.258 6.012.022 6,043,280 5.995.459 Page 44 Alderley Edge School for Girls NOTES TO THE ACCOUNTS for the year ended 31 August 2024 18 COMPANY SOFA- COMPAIL4TIVE FIGURES BY FUND TYPE Restricted Funds Endowed Unrestricted Funds Funds Total 2024 Total 2023 Note INCOMtNG RESOURCES Charitable aclivities Scliool fees Other ancillary income Ib Ic 6.079,066 34,083 6,079.066 34,083 5,675,217 41,822 Other trading aCti￿tieS Activities foi. generating fiinds Other aetiNitie5 Government Grants ia 21,837 47.295 22,545 21,837 47.295 22,545 20,011 32.894 11,615 Invesknents Investment incorne 55.946 55.946 12,518 TOTAL INCOMING RESOURCFS 6,260,772 6,260,772 5.794,077 Raising ￿ndS Fiindraising costs 3.905 3,905 4,047 Financing Costs 2,972 2,972 3,720 6,877 6,877 7,767 Charitable acti￿tieS- School operating costs Teachiiig costs Welfare premi.ses Support and goveriian 3,979,586 558,681 747,176 922,834 3,979,586 558,681 747,176 922,834 3,662,717 498,784 651,047 790,108 6,208,277 6,208,277 5,602,656 TOTAL RESOURCES EXPENDED 6,215,154 6,215,154 5,610,423 NET INCOMtNG RESOURCES 45,618 39.054 45,618 183,653 Transfers betweeii fund5 -39,380 326 At I September 2023 39,380 30,932 5,935,833 6,006,145 5,822,492 FUND BAL4NCES At 31 AUGusf 2024 31,258 6,020,505 6,051,763 6,006,145 Page 45