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COMPANY REGISTRATION NUMBER: 2829156
CHARITY REGISTRATION NUMBER: 1048874
GOVERNORS, ANNUAL REPORT INCLUDING
THE STRATEGIC REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST AUGUST 2024

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REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024
CONTENTS
PAGE
Annual Report of the Governors including
the Slrategic Reporl
Report of the Independent Audilors
12- 15
stalement of Financial Activities
Balance Sheet
statemenl of cash flows
Nofes fo the Financial Statements
19-32

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Board of Governors present Iheir annual report which also represents the direclors report as
required by Company Law, and the audited financial stalemenls of Ihe Charity for the year ended
31 August 2024. The reporl has been prepared in accordance with Parl 8 of the Charilies Act 2011.
The Governors have adopted the provisions of the Statement of Recommended Practice ISORPI
'Accounling and Reporling by Charities IFR51021 applicable to charitie5 preparing Iheir financial
stalements in accordance with the Financial Reporting Slandard applicable in Ihe United Kingdom
and Republic of Ireland. The financial stalemenls have been prepared in accordance with Ihe
Charity's memorandum and articles of association and with Ihe Companies Act 2006.
OBJECTS, PUBLIC BENEFIT AIMS. OBJECTIVES AND PRINCIPAL ACTIVITIES
The Objects of the Charity, in accordance with ils Memorandum of Associolion, are lo advance
education in particular by establishing and carrying on in Great Brilain land any countries outside of
Great Britain) schools al or by means of which students may obtain educalion and instruction in all
subjecls whatsoever that may be included in a commercial, technical, scientific, classical or
academic education, or may be conducive to knowledge of or skill in any Irade, pursuant or calling.
In the furlherance of these objects Ihe Governor5, as the Charity Truslees, have complied with the
duly in s.4 of the Charities Act 2011 to have due regard to the Charily Commission's published
general and relevant sub-sector guidance concerning the operation of the Public Benefit
requirement under that Act.
Prlncipal Acllvily
The principal activity of Ihe School continues to be the provision of education for children aged
belween 3 and I l. The School is set in an altractive eleven acre site within easy reach of Ihe M25,
st Albans, Potters Bar and Cuffley, Radlett, Elstree, Stanmore and Edgware, and mosl other parts of
Herlfordshire and north-west London.
School Alms
The Governing Board is responsible for setting a strategy for achieving the School's objeclives. As a
charilable independent school, the slralegic aim is the atlainmenl of the highest academic levels.
The School's aim is to draw out pupils, abilities and academic polential, whilst equally championing
the pastoral focus of the school in teims of each child's wellbeing. Both ale deemed of equal
importance. The School's bursary and admissions policies enable wide access to this education and
the facilities by helping lower income or othewise disadvantaged families fo benefit if they cannot
afford the School's standard fees.
The Objects of the Charity, in accordance with ils Memorandum of Association, are lo advance
education in particular by establishing and carrying on in Great Britain land any countries outside of
Great Britain) schools at or by means of which 51udenfs may obtain education and instruction in all
subjecfs whatsoever that may be included in a commercial, technical, scientific, classical or
academic education, or may be conducive to knowledge of or skill in any trade, pursuant or calling.
In the furtherance of these objects the Governors. as the Charity Trustees, have complied with the
duty in s.4 of the Charities Act 2011 to have due regard to Ihe Charily Commission's published
general and relevant sub-sector guidance concerning the operation of the Public Benefil
requirement under that Act.

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GOVERNORS. ANNUAL REPORT
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OBJECTS, PUBLIC BENEFIT AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES (conlinued)
School Alms (contlnued)
The School's specific aims are:
To deliver a forward-thinking curriculum Ihat inspires intellectual curiosity within each child,
promoles academic excellence and individual achievement.
To offer a positive and stimulaling environmenl Ihal promotes the philosophy of 'learning without
walls,.
To encourage. support and invest in its staff to enable all individuals to thrive.
To celebrale diversity and inclusivity in a communily Ihat values and cares for one another.
To bring joy to childhood experiences by enabling the children to feel safe and secure in an
environment where each voice is heard and well-being is nurtured.
To develop awareness and understanding of, and respect for, the environments in which we live,
and to secure our commifment to sustainable development at a personal, local, national and
global level.
To support initiatives that make us aclive members of society and fake a posilive sland against
climate change, global poverly and the impact of our lifeslyles on our environment.
Our Vision..
To unlock the inner potential al the heart of every child.
To inspire a lasling feeling of belonging.
To create memories that last a lifetime.
Our Mission..
To create a culture where academic excellence, creativity and individuality are celebrated,
To provide an innovative curriculum driven by curiosity and critical thinking.
To inspire a sense of wonder and responsibility foi our world.
Our Values:
Be Positive
Have Integrity
Show Kindness
Give your all
Sustainabilify:
To develop awareness and vnderstanding of, and respect for, the environments in which we live,
and to secure our commilment to sustainable development at a personal, local, national and
global level.
To support inilialives that make us active members of society and take a positive sland against
climate change, global poverty and the impacl of our lifestyles on our environment.
The School is commilted to sofeguarding and promoting the welfare of our pupils and expects all
staff and volunteers to share this commitment.

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
Publlc Beneflt
Our public benefit stralegy ensures that we are recognised as a valuable national and community
asset. Our aim is to support local charities and lo build relationships and develop projects with other
educational establishments. In the year 2023-2024, we again endeavored to build connections
wilhin our communily and develop programs where possible. During World Book Week we gifted
over 400 hundred children books featuring diversity, lo our local partnership school, Shenley Primary.
We sponsored an author's visit lo Iheir Year 4 children and invited forly-four Year 5 and 6 children to
altend a preview5howing of the Year 6 show, Malhilda followed by an outdoor learning experience.
This year's House charity, Sebby's Corner, was voled in by Ihe children in Ihe Aulumn term. It is a
local charity which provides essentia15 for babies and children who have fled domestic abuse or are
in poverty acros5 London, Herts and Ihe Soulheast. During Ihe year Ihe children raised £4253.47 for
charily, Ihe SLT donated their time. and Ihe House and Sports captains volunteered for an afternoon.
The Parent hub also organised a toy drive at Christmas for Ihe charity which was very successful. All
these initiafives are on top of our ongoing relationship with Ihe Vineyard Charity, Macmillian, the
RSPCA and our collaboration with our Thomas Franks in their Feeding Communities projecl.
Governors, Straleglc Plan for the School
l. To determine the future size, composition and structure of the school that will maintain ils
competitive position within the local and regional marketplace.
2. To idenlify and continuously review Ihe requirements needed to provide excellenl slandards of
education and leaching, within well-resourced, innovative facililies.
3. To establish a sound financial basis lo support both current facilities and future developments.
The Strategic Plan is reviewed annually by the Governors. Heod Teacher. Senior Leadership Team
ISLTI and Senior Management Team ISMTI, who are jointly responsible for formulaling and
implementing the plan. All developments are and will be considered and executed within the
framework of this plan.
Operollonal performance of the School
At Ihe end of Ihe academic year there were 434 pupils on roll in the main School and 18 in Ihe
Nursery. There was a Substantial waiting list for most year groups.
At Manor Lodge, we strive to ensure that pupils are at least one year ahead of their chronological
age. Analysis of INCAS12019-20241 dala shows Ihat on average the age difference is +2 Years. At
I l +, on average over 98% achieve a preferred choice for secondory school, both private and stale.
We have had an overwhelming success with scholarship resulls this year. Twenty-nine children have
attained one or more scholarships and performance pathways from fifteen differenl schools,
amounting lo a grand total of forty-nine scholarships.
Academlc
Sports
Muslc/Choral
Drama
Art
DT
STEM
Heads
Total
23
49
Key Initialives undertaken in 2023- 2024 in line with the 5 Year plan:
l. The new Curriculum was embedded Ihroughoul Ihe school.
2, The Slalfroom and a Staff Workroom were refurbished and opened to slaff in October 2023
3. The extension of the receplion classes- achieved summer lerm 2024.
4. The redesigned and construcled of a new reception playground - achieved summer lerm
2024.
5. The transfer of the School's management information systems to a more modern and
integrated syslem allowing for greater efficiencies across the School.
6. The School's computer servers were replaced to supporl the greater integration of
technology Ihroughoul the School,

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GOVERNORS. ANNUAL REPORT
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Key Iniliatives Iconlinued)
7. A partnership with Shenley Primary School was crealed.
8. Two breakout areas were created, and two new toilets were installed- Achieved Summer
2024.
9. A revamped prospeclus was launched.
l O. A new Year 5 Irip took place lo supporl the new elhos at Manor Lodge.
I l. The pond area was improved to help create an eco-friendly environment.
12. Al trailing look place by the IT Classroom Innovation Lead.
Bursarles and public beneflt
The Governors have given due consideration to the Charity Commission's guidance on public
benefil. It is important to the School thal access is not restricted lo those who can afford the fees.
The Bursary Policy contribules to a widening of access to the education Ihe School offers and the
facilities available. The Governors continue to review the School's Bursary policy to ensure that able
children can accept places offered at the School even if they are unable to afford the lees, and
the policy is publicised on Ihe School's website.
Bursary awards are available lo new enlrants who meet the School's entry crileria and also lo existing
pupils, on the basis of parental means or lo relieve hardship. In assessing means. a number of factors
are taken into consideration, including family income, savings, investments and family
circumstances. However, the School does nol have an endowment fund so musl also ensure a
balance between fee-paying parents, many ofwhom make considerable personal saciifices lo fund
their children's education, and those benefitting from the awards.
During the year, 21 pupils benefited from the staff fee reduction scheme and bursaries, the lasl
calculated on a means-tested basis. Such benefits reduced annual fee income by £168,41712023:
£148,790). Of this omount. bursaries tolaling £126,575 12023: £98,9121 supported 14 pupils by the
remission in parl or in full of their fees. Bursary awards ranged from 10% to 100% remission of fees. In
some cases, extra-curricular activities and school lunches were also supported by a bursary. Means-
tested bursaries are reviewed annually and represented 2.OTo of the School's gross fee income in the
2023124 year.
Fundralsing approach and performance
The Governors are aware of the Charities (Protection and Social Investmenll Act 2016 and recognise
the importance of meeting Ihe highest standards of practice and care in relalion to lundraising
activities. The School only raises funds from parent5, Staff and those with a personal connection lo
the School and does not undertake fundraising campaigns to members of the public, nor does it use
the services of third party fundraisers.
Volunteers
The Parents, Hub meets regularly to organise and run social aclivities in order to raise funds for the
School which are used to provide additional resources and octivilies for pupils. The Board would like
to take this opporlunily to express ils apprecialion for this valuable and continuing support from the
parents. Since Ihe year end a sum of £25,000 has been generously given by The Hub towards the
planned outdoor learning kitchen for use by all children.

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
PRINCIPAL RISKS AND UNCERTAINTIES
Manor Lodge has rigorous procedures in place to review all major risks. The robusl system is reviewed
annually and the School's Risk register is presented to Ihe Governors each academic year for
ratification. This works alongside the School Developmenl plan 2023-28 which outlines the Governors,
strategic plan for the school,
Rlsk Reglsfier
The Manor Lodge Risk Register allows senior managers and the governing board to plan for, track
and monitor key risks and risk controls for the whole school. The Risk regisler records the main
perceived risks to our financial and slrategic aims.
The Risk Register analyses:
The financial procedures and conlrols;
The major risks to the School, including:
strategic risk
Loss of fee income
Damage to repulalion
Failure to teach the current
syllabus
Risk of a child protection issue
Gaps in Governor skills
Conflicl of interest
Employmenl disputes
Major health and safely issues
Possible dala loss
Risk of fire, flood and land slip
Poor cash flow management
Fraud
Loss through inappropriate
inveslmenls
The key controls used to prolect Ihe School against such risks include..
Annual review of Ihe risk register
Annual review of the Development Plan
Safer recruilment, training and appraisal of staff, Governors and volunteers
Appropriate lerms of reference and formal agendas for each committee of the Board
strong financial controls Ihat are regularly reviewed including clear reporting lines,
financial authorisation levels and the financial reserves policy
Regular health & safety and fire audits
Use of professional advice from such professionals as lawyers, accounlants, Health and
Safety consultants and architects as required
Insurance
Formal review of compliance with the School's charitable objectives
The principal risks and uncerlainties currently facing the School are as follows:
Impact ol Governmenl leglslallon
Changes in charily taxation, including business rates, VAT, corporation tax, national
insurance.
Cost increases lo mandalory employers, contribulions to the Teachers, Pension Scheme,
External economic factors and the suslalnablllty of fee Increases
Change in polilical climale regarding charities and tax reliefs provided to independenl
schools.
Change in political and economic situation impacting parents, ability to pay fees and
withdrawing pupils accordingly.
Rising cosl of energy prices and olher inflalionary factors.
An epidemic or pandemic affecting the finances, operation and/or reputation of Ihe
school.

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
PRINCIPAL RISKS AND UNCERTAINTIES (contlnued)
External miligatlng circumstance5
The continuing success of the School is dependent on continuing lo attract applicant5 by
moinlaining high academic slandards.
Cyber-attack Irom an external source. Manor Lodge has 'Cyber Essentials, accreditation, in
order fo minimise exposure to cybercrime and Safeguarding risks.
Maintaining classroom lechnology resources and teacher skills at an appropriate level in the
face ol rapid fechnological advance and protecting the school and its assets
The rislng costs of malnlalnlng the fabrlc of the school, In partlcular the Ilsted bullding
Increosing cosls of mainlenance of the Grade11 listed school buildings and grounds.
Maintaining fhe 5 Year plan major developmenl project le.g. budget, accident, power
supply, etcl.
PAY SETTING ARRANGEMENTS
Pay and remuneralion for the School'5 senior management team is reviewed annually in detail by
Ihe Governors. Levels are agreed by Ihe Governors with reference to IAPS and AGBIS benchmarks
and national teaching pay scales.
Members of the senior leadership team are appraised biannually.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The School continued to supporl families by offering hardship funds and other financial assistance lo
those in need. Nonetheless, this was a successful year financially as pupil numbers remained strong
and financial controls tighf in anticipalion of the introduction of VAT on school fees as well as capilal
requirements underpinning the 5 Year Plan as detailed in Ihe Future Plans section overleaf.
The Company's net income for Ihe year of £501,52512023'. £609,217) is Set out in the slatemenl of
financial activities.
ReseNes
The linancial statements shows the assets and liabililies attiibutable lo Ihe solitary fund lunreslricted}
used by the School. The statemenl of financial activities summarises the movements on this fund. At
the year end, unrestricted funds amounted to £10,292,43212023.' £9,790,907).
The majority of the reserves are invested in tangible fixed assets, supported by longer term loans. This
leaves free reserves of £316,43612023: £435,3521. It will be some years before the bank loans are
repaid las summarised in Note 15 to the linancial statemenfsl and the School has funds available to
be maintained in appropriale cash reserves, Once this position arises the Board has concluded Ihat,
to allow the School to be managed efficiently and lo provide a buffer for uninterrupled Services, a
general cash reserve that equales to six months of overhead expenditure should be built up and
mainlained. Recent surpluses will be reinvested into the school buildings and facilities in line wilh the
developmenl plan.
Capltal Expendituve
The need to maintoin and enhance the infrastructure of Ihe School resulled in capitol expendilure
for the year ot £1,580,38012023: £824,198) as summarised in Note 12 to the accounts.

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
Investmenl Pollcy
The company has full powers of investmenl of its corporate reserves as stated in the Articles of
Association. The Board continues to keep under review the investment risks and rewards in the
current slate of the markel and lake professional advice as necessary.
The overall financial objective is to at least maintain the real value. As set out in note 13, inveslment
gains of £35,74812023.' loss of £14,559) which iepresent an approximate relurn of 810 on capilal
invested.
The Ralhbone Core Investment Fund for Charities is ethically screened lo avoid direct investment in
a number of categories in line with the Board's expectalions.
Golng concern
The Governors have assessed whether the use of the going concern basis is appropriate and have
considered possible events or conditions that might cast significant doubt on the ability of the charity
lo continve as a going concern. The governors have made this assessment for a period of at leasl
one year from the date of approval of the financial statements. After making enquires. the governors
have concluded that there is a reasonable expectation Ihat the charily has adequate resources to
continue in operalional existence for the foreseeable future. The accounls are therefore prepared
on the going concern basis.
FUTURE PLANS
The school's fulure plans are set out in the Whole School Five Year Development plan 2023-2028. This
will be reviewed annually by Ihe Governors, Head Teacher and senior leadership and managemenl
teams. who are jointly responsible for formulating and implementing the plan. All developments are
considered and execuled wilhin the framework of this plan. The development plan works in
conjunction wilh the 5-year plan which allows for phased development which can be adapted to
the school's financial position in each given year. The five year plan will be reviewed and modified
in the academic year 2024-2025.
Key Initialives for 2024- 2025 in line with the 5 Year Plan will include:
The five-year plan is a flexible document allowing for pauses when required. With Ihe planned VAT
increases, the initiatives indicated were streamlined to ensure that Manor Lodge is in the best
possible financial place to react lo markel forces. Limited areas of development are planned for:
l. Modernisation of the Nursery classroom- Summer 2025
2. Outdoor cooking facilities- academic year 2024- 2025
In September we will be launching the new vision initiatives for Manor Lodge:
Learning based on experience against an Al backdrop.
2. A campaign to say no lo mobile phones,

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GOVERNORS. ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng Documenl
The Charity is governed by its Memorandvm and Arlicles of Association. originally drawn up on
l June 1993 and last amended on 12 March 2020.
Governlng Body
The Governors. who are also required undei the Articles to serve as Directors of the Charily and
Trustees of the Charity, are elected at a full general meeting.
Governors are appointed for a term of three years. They can be re-elected. A full list of governors is
given on page 12.
Inductlon, Recrultmenl and Tralnlng of Governors
Potenlial Governors are identified by recommendalion from existing Governors, the Head Teacher
or Parents. They are considered by the Board on the basis of professional or business experience.
specialist skills and personal competence.
New Governors are inducted into the workings of the company a5 a school and also as a registered
charily, including ils Board Policy and Procedures. All Governors receive a copy of the Association
of Governing Bodies of Independent Schools IAGBISI publicalion 'Guidelines for Governors, and are
required to abide by the Governors, Code of Conduct.
Training opportunilies are regularly publicised to and taken up by the Governors. Further information
is provided by the Chair of Governors, Head Teacher and Bursar, as necessary.
Organisatlonal slruclure
The Governors meet as a Board al least once a term to determine the general policy of the School
and to review ils overall managemenl and control. for which they are legally responsible. The
implementalion of mosl of the Board's policies is carried out by the Finance and General Purposes
Committee Ichaired by Mr G Blackl. Ihe Educalion Committee (chaired by Dr T Lee) and the
Governance, Nominalions and Remuneralion Committee (chaired by Mr D Ainoldl. The Education
& Finance and General Purposes Commillees meel at least once a term, prior to Ihe full Governors,
Meeling, lo review the budget. monthly management accounts, annual report and accounls and
all other relevant matlers. The Governance, Nominalions and Remuneration Committee meets at
least once a year lo review Ihe remuneralion of the Senior Leadership Team & on an ad hoc basis
to manage the succession planning for Governors. The School's Health and Safety Managemenl
Committee reviews the School's work and leisure practices and monitors Risk Assessments and is
chaired by a designaled Governor Imrs L Selby until 16 Januory 2025, Mrs J Sharpe from 16 January
20251. The designated Governor for safeguarding is Mr S Wilson.
The day to day management of the School is delegafed to the Senior Leadership Team: the Head
Teacher, the Depuly Head Academic, the Deputy Head Slandards and Co-curricular. the Deputy
Head Pastoral and the Bursar.
Relatlonships wlth relaled partles and aff Illated bodies
The School is a member of the Independent Association of Prep Schools IIAPSI, the professional
association for Heads and Depuly Heads of the leading 660 independent preparatory schools in the
UK and worldwide. Members of the senior management leam regularly attend discussion forums
with Iheir peers from other preparatory schools in the area in orderto enhance Ihe qualily and scope
of the lessons given within Ihe School.
The School is also a member of AGBIS, which provides governance advice, and the Independent
Schools, Bursars Association IISBAI, which promotes the efficient and eflective management of the
non-academic aspects of independenl schools.

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The School is a Green-Flag Eco-school, an international group of schools working towards education
for sustainable development and a betler quality of life for local and global communities. By
following Iheir framework, the School aims to become a more stimulating place in which to leain,
whilst reducing the environmental impact on the communily. The children's involvement is key and
they have been involved from outset in activities such as producing ideas for project; recycling,
reducing and re-using waste; decision making; monitoring and aclion planning.
OFFICERS, LIABILITY INSURANCE
The company mainlains insurance policies on behalf of all the Governors against liabilify arising from
negligence, breach of duty and breach of Irusl in relation lo the company.
STATEMENT OF GOVERNORS, RESPONSIBILITIES
The Governors, as Directors of Ihe Charily for the purposes of company law, are responsible for
preparing the Governors, Annual Report including the Strategic Report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom
Generally Accepted Accounting Praclicel,
Company law requires the Governors lo prepare financial stalements for each financial year, which
give a true and fair view of the slate ot affairs of the charitable company and of the incoming
resources and applicalion of resources, including the income and expenditure, of the charilable
company for the year. In preparing these financial statements, the Governors are required to:
select suilable accounling policie5 and then apply them consistently..
observe the methods and principles in the Charities SORP IFRS 102};
make judgements and esfimates thal are reasonable and piudenl;
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial slalements.
prepare the financial slalements on the going concern basis unless it is inappropriate to
presume thal the charitable company will continue in operation.
The Governors are responsible for keeping adequale accounling records that disclose with
reasonable accur(Jcy at any time the financial position of the charitable company and enable them
to ensure that the financial stalements comply with the Companies Act 2006. They are also
responsible for safeguarding the assels of the charitable company and hence for taking reasonable
steps for Ihe prevention and detection of fraud and other irregularilies.
DISCLOSURE OF INFORMATION TO THE AUDITORS
The Governors who held office at the dale of approval of these financial stalemenls as set out above
each confirm, so far as Ihey are aware. that:
Ihere is no relevant audil information ofwhich the charilable company's auditor is unaware; and
the Governors have laken all steps that they ought to have laken to make themselves aware of
any relevant audil information and lo establish that the audilor is aware of that information.
This confirmation is given and should be interpreled in accordance with Ihe provisions of S418 of Ihe
Companies Act 2006.

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GOVERNORS, ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Governor's Annual Report which includes the Strategic Report has been approved by the Board
of Governors in their capacily as Directors of the Company on 20 March 2025 and signed on its
behalf by:
Mr D Arnold MBE
Chairman
Rectory Lane
Ridge Hill
Shenley
Radleti
Hertfordshire
WD7 9BG

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REFERENCE AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024
Manor Lodge School Limited (the Charity) was incorporated as a charitable company on 22 June
1993 and commenced activities on 19 November 1993. The Charity changed ils name from
Forestpost Limited to Manor Lodge School Limited on 4 May 1995, and arranged pursuanl lo Section
6011 I lal of the Companies Act 2006 to have the word "Limited omitted from the Charity name. The
School registered as a Charily with the Charily Commissioners on 25 August 1995, number 1048874
(England and Wales).
The Regislered Office and principal address ol the Charily is at Manor Lodge School. Rectory Lane,
Ridge Hill, Shenley, Radlelt, Hertfordshire WD7 9BG. Ils registered company number is 2829156
(England and Wales).
Governors
The Governors of Ihe School, who are also Directors of Ihe Charity and the Charily trustees, during
the year were..
Mr D Arnold MBE # + (Chairman)
Ms J Sanderson Neil. Appointed 20 March 2025
DrTDLee'+
(Vice Chairman)
Mr J Segal
Resigned 21 March 2024
Mr G Black #
Resigned 20 March 2025
Mrs L Selby # @
Resigned 20 March 2025
Mrs S Coventry '
Ms J Sharpe # @
Appointed 20 March 2025
Mr A Devani # +
Mr W Thorp #
Mr5 E Eve-Raw'
Mr S Wilson ° $
Mrs A Hems,
Mr A Williams
Ms M Jones.
Mrs H Williams #
Appointed 17 Nov 2023
Appointed 20 March 2025
Resigned 17 Nov 2023
Appoinled 20 March 2025
* Member of the Educalion Committee
# Member of Finance and General Purposes Commillee
+ Member of Ihe Governance and Nominations Commitlee
@ Health and Safely Governor
$ Safeguarding Governor
Key Executlves & Profe$$lonal Advisors
Head Teacher
Deputy Heads
Mrs A Lobo BEdlHonsl
Mr S Cavanagh BAIHonsl PGCE
Ms F Anwar BA (Honsl QTS
Mrs G Wilkins BA IHonsl PGCE QTS
Bursar, Company Secrelary Mrs C Wills FCA IAppointed l October 20241
Clerk lo the Governors
Mr R Williams (Appointed 21 September 20231
Bankers
Barclays Bank plc, 22-24 Upper Marlborough Road, St Albans, ALI 3AL
Solicilors
Progeny Law & Tax Limited, l A Tower Square, Leeds, LSI 4DL
Avdilors
Balfour Sanson, Statutory Auditors, Chartered Accountants,
17 Bourne Courl, Southend Road, Woodford Green. Essex IG8 8HD
Marsh Limited, l Tower Place East, London, EC3R 5BU
Rathbone Investment Management Limiled, 8 Finsbury Circus, London
EC2M 7AZ
Insurance Broker
Inveslmenl Managers

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MANOR LODGE SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2024
Page 12
Oplnlon
We have audited Ihe financial slalements of Manor Lodge School (the 'charitable company'l for
the year ended 31 Augusl 2024 which comprise the Slatement ol Financiol Activilies, the sfatement
of cashflows, and the Balance Sheel and noles lo Ihe financial Statements, including a summary of
significant accounting policies. The financial reporting framework that has been applied in their
preparalion 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 Generally Accepted Accounting Practice).
In our opinion the financial slatemenls:
give a true and fair view of the stale of the charitable company's affairs as al 31 August 2024,
and of its incoming resources and application of resources, including its income and
expenditure, for the year Ihen ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounling Practice; and
have been prepared in accordance wilh the requirements of the Companies Act 2006.
Basis for oplnion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI)
and applicable law. Our responsibilities under those slandards are further described in the Audilor's
responsibilities foi the audit of the financial statements seclion ol our report. We are independent of
the charitable company in accordance with the elhical requirements Ihat are relevant lo our audit
of Ihe financial statements in the UK, including the FRC'S Elhical Slandard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficienf and appropriate to provide a basis for our opinion.
Concluslons relating to golng concern
In auditing Ihe financial statements, we have concluded that Ihe governois, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainfies relaling
to evenls or condition5 Ihal, individually or collecfively, may casl significanl doubt on the entity's
abilily to continue as a going concern for a period of at least twelve months from when the financial
statements are authoiised for issue.
Our responsibililies and the responsibilities of the Governors with respect to going concern are
described in the relevant sections of this report.
Other Informatlon
The other information comprises the information included in fhe Governors, Annual Report, other
than Ihe financial stalemenls and our auditor's report Ihereon. Our opinion on the financial
statemenls does not cover the otherinformalion and, except to Ihe extent otherwise explicitly stated
in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsislent with Ihe financial slatements or our knowledge obtained in Ihe
audif or olhemise appears to be materially misstated. If we identify such malerial inconsistencies or
apparent material misstatements, we are required to delermine whether there is a material
misstatement in the financial statements or a material misstalement of the other information. If,
based on the work we have performed, we conclude thal there is a material misstalemenl of this
other information. we are required fo report that fact.
We have nothing to report in this regard.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MANOR LODGE SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2024
Page 13
Opinions on other matters prescrlbed by the Componles Acl 2006
In our opinion, based on the work underlaken in the course of the audil..
the information given in the Governors, Annual Reporl (incorporating the Strategic Reporll for
the financial year for which the linancial stalements are prepared is consislent wilh Ihe financial
stalements,. and
Ihe Strategic Reporl and the Governors, Annual Report have been prepared in accordance
wilh applicable legal requirements.
Matters on whlch we ore requlred to report by exception
In the light of our knowledge and understanding of the charitable company and ils environment
obtained in the course of Ihe audit, we have nol identified material misstalements in the Governors,
Annual Report lincorporaling Stralegic Reporti.
We have nothing to report in respect of the following malters in relation to which the Companies
Acl 2006 requires us lo report lo you if, in our opinion:
adequate accounting records have not been kepl, or retums adequate for our audit have not
been received from branches not visited by us,. or
the financial statements are nol 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 information and explanations we require for our audit.
Responslbllltles of Governors
As explained more fully in the Governors, responsibilities statement set out on page 9. The Governors
Iwho are also the directors of the charilable company for the purposes of company lawl are
responsible for the preparalion of the financial statements and for being satisfied thal they give a
true and fair view, and for such internal control as Ihe Governors determine is necessary lo enable
the preparation of financial statemenls that are free from material misslalement, whether due to
fraud or error.
In preparing the financial slalements, the Governors are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing. as applicable, mallers related to
going concern and using the going concern basis of accounting unless the Governors eilher intend
to liquidate the charitable company or to cease operations, or have no realistic allernative but to
do so.
Audltoi's responslbllllies for the audll ol the flnanclal slalements
Our objectives are to oblain reasonable assurance about whelher the financial slatements as a
whole are free from malerial misslatement, whether due to fraud or error, and to issue an audilor's
report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee thal an audit conducted in accordance with ISAS IUKI will always delecl a material
misslatement when it exists. Misstafemenls can arise from fraud or error and are considered material
if, individually or in the aggregate, Ihey could reasonably be expected lo influence the economic
decision5 of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misslatemenls in
respecl of irregularities, including fraud. The extent to which our procedures are capable of
detecting irregularities, including fraud. is detailed below.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MANOR LODGE SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2024
Page 14
The objectives of our audit in respect of fraud, are; to identify and assess the risks of malerial
misslatemenl of the financial statements due to fraud,. to obtain sufficient appropriate audit
evidence regarding the assessed risks of material misslalement due to fraud, through designing ond
implementing appropriate responses fo those assessed risks,. and lo respond appropriately lo
instances of fraud or suspected fraud idenlified during the audil. However, the primary responsibility
for the prevention and detection of fraud resls with both managemenl and those charged with
governance ol Ihe charitable company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to Ihe
charitable company and considered that the mosl significant are Ihe Companies Act 2006, the
Charities SORP IFRS1021, and UK financial reporting standards as issued by the Financial Reporting
Council.
We considered provisions of other laws and regulations that do nol have a direct effecl on the
financial statements but compliance with which might be fundamental lo the charity's ability to
operate or to avoid a material penally. We also considered the opportunities and incentives Ihat
may exist within the charity for fraud. The laws and regulalions we considered in this context for
the charily were the Charites Act 2011. The Education Ilndependent Schools Slandardsl
Regulations 2014, Health and Safely, Safeguarding, Food Standards. Charity Commission
regulations and Dala Protection Regulation. Audiling slandards limit the required audit
procedures to identify non-compliance with these laws and regulations lo enquiry of the
Governors and other management and inspection of regulatory and legal correspondence, if
any.
We identified the greatest risk of material impact on the financial slatements from irregularities,
including fraud, to be wifhin the timing of recognition of fee income and the override ol contro15
by managemenl. Our audil procedures to respond lo these risks included inquiries of
managemenl including their own identification and assessment of the risks of irregularitie5,
sample testing on income and Ihe posting ofjournals. reviewing accounling estimote5 for biases,
reviewing regulalory correspondence with the Charity Commission Independent Schools
Inspeclorate and reading minutes of meetings of Ihose charged with governance. Our audif
procedure51o respond to revenue recognition risks included sample testing of income across the
year to agree to supporting documentalion and fesling income either side of Ihe year to ensure
this has been correctly recognised.
There are inherent limitations in the audil procedures described above. We are less likely to become
aware of instances of non-compliance wilh laws and regulations that are not closely related lo
events and transactions reflected in the financial slatements. Also, the risk of not delecting a material
misstatement due lo fraud is higher than the risk of nol detecling one resulling from error, as fraud
may involve deliberate concealmenl by, for example, forgery or intentional misrepresentations, or
Ihrough collusion.
A further description of our responsibilities for the audit of the financial statements is located on the
Finoncial Reporting Council's website at: hti
www.frc.or
.uk
auditorsres
onsibililies. This
description forms part of our auditor's report.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MANOR LODGE SCHOOL
FOR THE YEAR ENDED 31 AUGUST 2024
Page 15
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
mighl state to the charilable company'5 members Ihose matters we are required lo state to them
in an audilor's report and for no other purpose. To Ihe fullest extent permitted by law, we do not
accept or assume responsibilily lo anyone other than the charitable company and the charitable
company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Nlgel Balfour FCA
(Senior Statutory Auditor)
For and on behalf of
Balfour Sanson
statutory Audllors
Chartered Accounlanls
17 Bovrne Court
Soulhend Road
Woodford Green
Essex, IG8 8HD
Date

MANOR LODGE SCHOOL
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STATEMENT OF FINANCIAL ACTIVITIES
includin
an Income and Ex
endllure Account
FOR THE YEAR ENDED 31 AUGUST 2024
Total
(Unrestricted)
2024
Total
{Unreslricted)
2023
Notes
INCOME FROM:
Charitable activities
other trading activities
Investments
Voluntary sources
6,711,681
45,833
102,292
6,237,457
76,038
92,862
5,696
Total Income
6,859.806
6,412,053
EXPENDITURE ON:
Charltable Expendllure
Raising funds
Charitable aclivities
4,416
6,389.613
23.850
5,764.427
Total expendlture
6,394.029
5,788,277
NET GAINS / (LOSSES) ON
INVESTMENTS
13
35,748
114,5591
NET INCOME AND NET
MOVEMENT IN FUNDS
501,525
609,217
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT
FORWARD
9,790.907
9,181,690
TOTAL FUNDS CARRIED
FORWARD
10,292,432
9,790,907
All of the above results are derived from continuing activilies. All gains and losses recognised in the
year ale included above.
The altached notes form parl of these financial statements.

MANOR LODGE SCHOOL
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COMPANY REGISTRATION NUMBER: 2829156
Page17
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Noles
FIXED ASSETS
Tangible Asset5
Inveslmenls
12.559,225
501,787
11,487,907
393,719
13,061,012
11,881,626
CURRENT ASSETS
Debtors
Cash at Bank and in hand
14
198,002
2,267,240
202,077
1.958,309
2.465,242
2,160,386
CURRENT LIABILITIES
Credilors: Amounls falling due
within one year
2,148,806
1,725,034
NET CURRENT ASSETS
316,436
435.352
TOTAL ASSETS LESS
CURRENT LIABILITIES
13,377,448
12,316,978
CREDITORS: Amounts falling due
after more than one year
3,085,016
2,526,071
TOTAL NET ASSETS
10,292,432
9,790,907
CHARITY FUNDS
Unrestricted funds
10,292,432
9,790,907
Approved and authorised for issue by the Board of Governors on 20 March 2025 and signed on ils
behalf by:
Mr D Arnold MBE
Chairman
The attached notes form parl of these financial stalements.

MANOR LODGE SCHOOL
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STATEMENT OF CASH FIOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Note
Cash flow from operating activitles
Inleresl paid
2,144.036
194.2531
1,457.688
1103,0121
Net cash flow from operatlng activltles
2.049,783
1,354,676
Cash flow from Investlng actlvltles
Payments to acquire tangible lixed assets
Purchase of fixed assel inveslments
Interest received
Dividends received
11,580,380)
160,000}
94,116
8.176
1824,1981
152,500)
85,314
7,548
Net cash flow from Investlng actlvllles
11,538,088)
1783.8361
Cash flow from flnanclng aclivlties
Net Idecreasel in loans
Increase in deposits held
1254.2641
51,500
1249,1741
31,500
Nel cash flow from flnanclng activltles
1202,764)
1217,6741
Nel Increase in cash and cash equlvalents
308,931
353,166
Cash and cash equlvalents ot I September
2023
1,958.309
1,605,143
Cash and cash equlvalents at 31 August
2024
2.267,240
1,958,309
Cash and cash equlvalents consists of:
Cash at bank and in hand
2,267,240
1,958,309
2.267,240
1,958,309
The notes form part of these financial statements.

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Page 19
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES
General Informatlon and basls of preparallon
Manor Lodge School is registered as a charity with the Charily Commission and incorporated as a
privale limited company in England and Wales. Manor Lodge School is a company limited by
guarantee. Every member of the Company undertakes to contribute such amount as may be
required Inot exceeding £1 I lo the company's assets if it should be wound up while he or she is a
member or within one year after he or She ceases to be a member, for paymenl of the company's
debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges
and expenses of winding up, and for the adjuslment of Ihe rights of the contributories among
themselves. The address of the regislered office is given in the charity informalion on page 12 of
these financial statemenls. The nature of the charity's operations and principal activities are as
presenled on page 4 of these financial slatemenls.
The charity constitutes a public benefit entily as defined by FRS 102. The financial statements have
been prepared in accordance with Accounling and Reporting by Charities: Statement of
Recommended Practice applicable to charilies preparing their financial stalemenls in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (the FRS 102
Chariles SORPI, the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021, the Charities Act 2011 and the Companies Act 2006.
The financial statements are prepared on a going concern basis under the historical cost
convenlion. The financial statements are prepafed in slerling which is the functional currency of the
charily and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented unless olhewi5e
staled.
(al
Golng concern
The Governors have asse55ed whether the use of the going concern basis is appropriate and
have considered possible events or condilions thal might cast significanf doubt on the ability
of the charity lo continue as a going concern. The governors have made this assessment for
a period of al least one year from the date of approval of the financial sfalements. After
making enquires, the governors have concluded Ihat there is a reasonable expeclation thal
the charity has adequate resources lo continue in operational existence for the foreseeable
future. The accounts are therefore prepared on the going concern basis.
Ibl
Funds
Unre5tflCted funds are available for use at the discretion of the Governors in fvrtherance of
the general objectives of the charily and which have nol been designated for olher
purposes.
Icl
Income recognlllon
School fees represent amounls receivable for edvcational services provided including
ancillary fees charged for regislralions, clubs, lunches and other aclivilies.
All incoming resources are included in the Statemenl of Financial Activities ISOFAI when the
charity is legally entilled lo the income afler any performance conditions have been met,
the amount can be measured reliably and it is probable thal the income will be received.
No amounl is included in the financial statements for volunteer time in line with the SORP IFRS
1021. Furlher delail is given in the Governors, Annual Report.
Income from tiading activities include5 income earned from fundraising events and trading
activities lo raise funds for the charity. Fees receivable consisl of charges billed for the school
year ending 31 August less bursaries and allowances. Adjuslments have been made to defer
invoiced fees relating lo the Autumn term, which commences in the next financial period lo
ensure that no income relating to the nexf financial year is included in Ihese financial
statements. Any payments received relating to this term have been Irealed as fees in
advance under creditors.

MANOR LODGE SCHOOL
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NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
Icl
Income recognlllon (contlnued)
Income from governmenl or other grants is recognised only when the charity has entillement
to the lunds,. any performance condilions allached to the grant have been met.. il is
probable that the income will be received and Ihe amounl can be readily measured.
Expenditure recognltlon
All expendilure is accounted foron an accruals basis and has been clossified under headings
that aggregale all costs related to Ihe category. Expenditure is recognized where there is a
legal or conslruclive obligation to moke paymenls lo third porties, il is probable thal Ihe
setllement will be required and the amounl of the obligation can be measured reliably. It is
calegorized under the following headings..
Cosls of raising funds;
Expenditure on charitable aclivities as set out in Note 610 the financial slalements; and
other expenditure represents fhose items not falling into the categories above.
Idl
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Support costs allocatlon
Support costs are those that assist Ihe work of the charily but do nol directly represent
charitable aclivities and include office costs, governance costs. and administrative payroll
costs. They are incurred directly in support of expenditure on Ihe objecfs of the charity. Where
support costs cannot be directly attribuled to parlicular headings Ihey have been allocated
lo Ihe cost of raising funds and expenditure on charitable activities on a basis consistent with
use of Ihe resource5.
lel
Fund-raising cosls are those incurred in seeking non-mandatory contributions.
The analysis ol these costs is included within nole 6 to the financial statements.
Tangible flxed assets
Tangible fixed assets are included at cost including any incidenfal expenses of acquisilion.
Costs include any costs directly altributable to render the asset capable of use a5 inlended.
Depreciation is provided on all tangible fixed assets at rates calculated to write off Ihe cost
less eslimaled residual value. on a syslematic basis. over Iheir expected useful economic
lives as follows:
Freehold land
Freehold buildings
Furniture and equipment
Compuler equipment
Leasehold property
NIL
over 50 years on a straighl line basis
over 5 years on a straight line basis
over 4 years on a slraight line basis
over the period of the lease
Igl
Investmenls
Inveslments are recognised inilially at fair value which is normally Ihe transaction price
excluding transaction cos15. Subsequently they are measured at fair value wilh changes
recognised in 'net gains/llossesl on inveslmenls" in the Slatement of Financial Activities if Ihe
shares are publicly traded or their fair value can othewise be measured reliably.
Financlal Instrumenls
The charity ha5 elected to apply the provision5 of Section I I 'Basic Financial Instruments
and Section 12 '01her Financial Inslrumenls Issues" of FRSI 02 to all of ifs financial instruments.
Financial instruments are recognised in the company's balance Sheet when the charity
becomes party lo the conlractual provisions of the instrument. Financial assets and liabilities
are offsel, wilh the nel amounls presented in Ihe financial slatemen15 when Ihere is a legal
enforceable right lo set off the recognised amounts and there is an intenlion to settle on a
nel basis or to realise Ihe asset and sellle the liability simullaneously.
Ihl

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Page 21
NOTES TO THE FINANCIAL STATEMENTS - contlnue
FOR THE YEAR ENDED 31 AUGUST 2024
Ihl
Flnanclal Instruments (continued)
al Debtors and creditors with no stated interest rate and receivable or payable within one
year are recorded at transaction price. Any losses arising from impairment are recognised
in expendilure
bl Loans and borrowings are initially recognised at the transaclion price including
transaclion cosls. Sub5equenlly, they are measured at amortised cost using the effeclive
interest rate method. less impairment. If an arrangement conslitules a finance
Iransaclion it is measured at present value.
cl Financial inslrvments held al amortised cosl are fees receivable, olher deblors, cash at
bank, bank loans, other creditors, scheme fees paid in advance. deposits held and
accruals.
Cash and Cash Equlvalenls
Cash and cash equivalents include cash in hand, deposits held al call with banks and other
short term liquid investments with original malurilies of Ihree months or less.
Impalrment
Assels nol measured at fair value are reviewed for any indicalion Ihot the assel may be
impaired al each balance sheet date. If such indication exists, the recoverable amount of
the asset is estimaled and compared lo the carrying amount. Where the carrying amount
exceeds its recoverable amount, an impairment 1055 is recognised in the income and
expenditure account unless the asset is carried at a revalued amounl where Ihe impairment
loss is a revalualion decrease.
Ikl
Leases
Renlals payable and receivable under operaling leases are charged to the Slalement of
Financial Activities on a slraighl line basis over the period of the lease.
Employee beneflts (inclvdlng pensions)
When employees have rendered service to the charity, short-term employee benefits lo
which the employees are entitled are recognised al the undiscounted amounl expecled to
be paid in exchange for thal service.
The charity recognises termination benefits as a liabilily and an expense within the financial
statements only when there is a demonstrable commitment to do so.
The Charity conlributes to the Teachers, Pension Defined Benetits Scheme at rates set by the
Scheme Acluary and advised to the Board by the Scheme Administrator. The scheme is a
multi-employer pension scheme and it is not possible to identify the a5sels and liabilities of the
scheme which are altributable to Ihe School. In accordance with FRS102 therefore, the
scheme is accounted for as a defined conliibution scheme. The Charity also contributes to
a group personal pension scheme for non-leaching staff at up to 6.0% of annual basic pay.
Contributions lo both schemes are charged in the SOFA as Ihey become payable in
accordance with the rules of the schemes.
Im)
Taxatlon
The Charity is considered lo pass the lests set out in Paragraph I Schedule 6 Finonce Act 2010
and therefore il meets the definition of a charitable company for UK corporation tax
purposes. Accordingly, the charitable company is potentially exempt from taxation in
respect of income or capital gains received within categories covered by Chapter 3 Part I I
ol the Corporation Tax Acl 2010 orsection 256 of the Taxation of Chargeable Gains Act 1992,
lo the extenl that such income or gains are applied exclusively lo charitable purposes.
Value added taxotlon
For the period under review the Charity's aclivilies are outside of the scope of value added
tax, il was therefore unable lo reclaim any input lax. Consequently, value added lax on any
capilal expenditure is capitalised as part of the cost of Ihe assel acquired and value added
lax on resources expended is added lo the parlicular expense in the Stalemenl of Financial
Activities.
In)

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NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
lol
Parents, deposlts
The Governors have reviewed the conlracl lerms under which pupil fee deposits are held by
Ihe School. These deposits will be repaid over fulure years when the pupils complele their
education at the school. In accordance wilh the Charilies SORP FRS 102, the balances for
parents, deposits are inilially iecognised and measured at the amounts received, with the
carrying amount adjusted in subsequent years to reflect repoymenls and adjusted if
necessary for any impairment.
(pl
Advance Fee Scheme
The school has introduced a scheme which offers porents the opporlunily to pay for school
fees in advance in accordance with the terms and conditions of an agreed conlract.
Monies received under the scheme are held within unreslricled funds and presented os a
liability wilhin the balance sheet. These funds are then released to income in the accounting
period from the liability shown relevant to the number of terms fees paid in advance per Ihe
scheme contract.
Iql
Judgements in opplying accountlng pollcles and key sources of eslimallon uncertalnty
In the application of the Charily's accounting policies, which are described in note I,
Governors are required to make judgements, eslimates and assumptions about the carrying
values of assets and liabilities that are not readily apparent from other sources. The eslimales
and underlying assumptions are based on historical experience and other factors that are
considered lo be relevant. Actual results may differ from Ihese estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the
revision affects only that period or in the period of the revision and future periods if Ihe revision
affects Ihe current and future periods, The Governors consider that there are no material
judgements in applying accounting policies or key sources of eslimalion uncerlainly.
Crlllcal Judgements
Useful Economlc Llves
The annual depreciation charge for property, plant and equipment is sensitive fo changes in
the estimated useful economic lives and residual values of the assets. The useful economic
lives and residual values are re-assessed annually. They are amended when necessary to
rellect current estimates based on technologicol advancement, future investments,
economic utilisation and the physical condition of the assets. See nole 12 for the carrying
amount of the property, plant and equipment and note I If) for the useful economic lives for
each class of asset.

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NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
School fees receivable
Gro55 fees
Less: Discounts, scholarships and bursaries
6,264,166
1168,4171
5,850,660
1148.7901
6,095,749
5.701,870
Clubs. school lunches and other aclivilies
Registralion fees
597,407
18,525
514,887
20,700
6,711,681
6,237,457
3. INCOME FROM OTHER TRADING ACTIVITIES
2024
2023
Net café income
Income from lund raising even15
Hire of facilities
other
17.045
15,679
12,515
594
8.732
52,986
14,320
45.833
76,038
4. INCOME FROM INVESTMENTS
2024
2023
Interest- Deposit and current account
Dividend income
94,116
8,176
85,314
7,548
102,292
92,862
5. VOLUNTARY SOURCES
2024
2023
Donations and gifts
5,696
5,696

MANOR LODGE SCHOOL
Page 24
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024
6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
AND ALLOCATION OF SUPPORT AND GOVERNANCE COSTS
The Governors consider Ihat the Company is engaged in only one category of chartlable activity
namely that of the provision of educalion.
Analysis of charitable activity, governance and supporl costs 15 as follows:
Direcl
charllable
actlvlty
Support Governance
Costs
Functlon
2024
Tolal
2023
Total
Salary and employee
costs
Premises and overhead
costs
Catering costs
Amorlisalion
Depreciation
School aclivities and
excursions
Educational supplies
other costs
Finance costs including
loan interest
Legal & professional fees
Audit remuneration
3,349,216
861.166
10,764
4,221,146 3,687,639
613,235
306,979
307,243
201,819
613,235
306,979
307,243
201,819
521,147
324.013
281,289
163.204
202,594
82,161
5,225
202,594
82.161
244,767
185,046
61,163
354,665
239.542
96,104
86,812
96,104
95.345
18,220
105,297
61.184
19,780
8,533
18,220
3,639,196
2,712,900
37,517
6,389,613 5,764,427
Please refer to Note 22 for the comparalive analysis ol expenditure on charitable activities and
allocalion of supporl and governance costs.
7. NET INCOME FOR THE YEAR
Nel income for the year Is staled after charglng:
2024
2023
other expenditure includes:
Fees payable lo the Company's auditor
for Ihe audit of Ihe Company's annual accounts
for other audil work on behalf of Ihe Company
Amorlisation & Deprecialion- owned assets
Operaling lease rentals
Land and buildings
Fitlings and equipment
Net gain / (loss} on inveslments
Loss on disposal of tangible fixed assels
16,520
1,700
509,062
75.941
53,804
35,749
18,380
1,400
444,483
72.766
8,135
114,5591
131,621

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NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
8. GOVERNORS, AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
The Governors neither requested nor waived any emolumenls during the year £Nil12023: £Nill.
During Ihe year, no expenditure was reimbursed lo any Governor by the School12023'. £3.721 for
the payment of staff travel and accommodation expendilurel.
The total amount of employee benefits received by key managemenl personnel was £551,876
12023: £444,480). The School considers its key management personnel comprise members of the
School's senior management team.
9. STAFF COSTS
2024
2023
Wages and Salaries
Social Security costs
Pension costs
Olher employee benefits
3,222.713
337,244
579,853
62,076
2,922,401
293,424
461,767
62,656
4,201,886
3,740,248
Total redundancy/termination payments made during the year amounted to £NIL 12023..
£36,892).
The number of employees who received total employee benefits (excluding employer pension
costs) of more than £60,000 in Ihe year was as follows..
2024
Number
2023
Number
£60,001- £70.000
£70,001- £80,000
£80,001- £90,000
£110,001- £120.000
£120,001 - £130,000
The number of higher paid employees who accrued benefits under a defined benefit pension
scheme was 412023: 21.
The average number of employees and full time equivalent IFTEI analysed by function during
the year was made up as tollows:
2024
Number
2023
FTE Number
FTE
Charitable oclivities (Teaching and supporti
Administralion
81
64
74
62
93
75
90
74

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NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
10. INTEREST PAYABLE AND SIMILAR CHARGES
2024
2023
Bank loan interest payable
94,253
103,012
T I. PENSION COSTS
ol Defined contribution pension scheme.
The company contributes to a defined conlribution scheme on beholf ot eligible members
of ils non-teaching staff. Contributions are charged in the stotemenl of financial activities as
they occrue. The charge for the year was £54.82012023: £47.6591. Conlributions payable as
at 31 August 2024 in respect of non-leaching staff were £7,98812023: £7.8071.
b) Teachers, Pension Scheme
The School participates in the Teachers, Pension Scheme {"the TPS'I for its teaching staff. The
pension charge for the year includes confributions payable to the TPS of £525,03312023:
£414,108) and at the year end £66,767 12023 £50.4421 was accrued in respect of
contribulions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The
Teachers, Pensions Regulation5 2010 las amended} and The Teachers, Pension Scheme
Regulalion5 2014 las amended). Members contribute on a 'pay as you go basis with
contribulions from members and the employer being credited to the Exchequer. Retirement
and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of Slate following scheme valuations
undertaken by the Government Actuary's Department. The mosl recent acluarial valuation
of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in
October 2023.
Following the Mccloud judgement, the remedy proposed that when benefits become
payable, eligible members can select to receive them from either the reformed or legacy
schemes for the period l April 2015 10 31 March 2022. The actuaries have assumed that
members are likely lo choose the option Ihat provides them with the greater benefits, and in
preparing the 2020 valuation has valued the 'grealer value, benefits tor groups or relevant
members.
The employer contribution rate for the TPS is 28.6%. and employers are also required to pay a
scheme adminislration levy of 0.0810 giving a total employer contribution rate of 28.68%.

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NOTES TO THE FINANCIAL STATEMENTS_ contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
12. TANGIBLE FIXED ASSETS
Computer
Equipmenl
Equlpment,
Flxtures and
Flltlngs
Land &
Freehold
Property
Short
Leasehold
Property
Total
Cost
As at I September 2023
Additions
Disposals
723,373
27,153
1,767.836
112,495
13,432.605
1,440,732
636.470
16,560,284
1,580,380
As at 31 August 2024
750.526
1 ,880,331
14,873,337
636,470
18,140,664
Depreclatlon
As at I September 2023
Charge for year
Disposals
578,659
66,329
1.380,700
135,490
2.809,148
280,591
303,870
26,652
5.072,377
509,062
As at 31 Augusl 2024
644,988
1,516,190
3,089,739
330,522
5,581,439
Net Book Value
As al 31 August 2024
105,538
364,141
11,783,598
305,948
12,559,225
As at 31 August 2023
144,714
387.136
10,623,457
332.600
11,487,907
Included within freehold property is the historic cost of land not depreciated of £393,75012023:
£393,750).
The Governors consider Ihe market value of freehold property to be significantly in excess of the net
book value should the assels be sold for any purpose other than for educational use.

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NOTES TO THE FINANCIAL STATEMENTS - conllnued
FOR THE YEAR ENDED 31 AUGUST 2024
13. FIXED ASSET INVESTMENTS
Cost or valuation
Tolal Investments
(Llsted)
Al I September 2023
Re-invested income
Change in market value
Additions
393,719
12,320
35,748
60,000
At 31 August 2024
501,787
Investments at fair value comprise:
At 31 Augu$1
2024
At 31 August
2023
Funds held within a unit trusl
Cash within investment portfolio
493,310
8.477
390,786
2,933
501,787
393,719
Historical cost of fixed asset investments was £450,31912023'. £377,999).
The fair value of listed inveslmenfs is determined by reference to the middle market price as at
31 Augusl 2024.
14. DEBTORS
2024
2023
Amounts falling due within one year:
Fees receivable
other debtors
Prepayments
24,679
16,908
156,415
26,000
22,180
153,897
198,002
202,077

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NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
15. CREDITORS
2024
2023
Amounts falling due within one year:
Bank loans
Taxation and Social Security payable
other Credilors
Fees paid in advance Inon-schemel
Fees paid in advance Ischemel
Deposits held
Accruals
259,633
75,618
365,150
794,969
535,891
31,000
86.545
263.311
73,237
160,910
725,699
30.500
471,377
2,148.806
1,725,034
2024
2023
Amounts falling due affer one year..
Long term morlgage
Deposits held
Fees paid in advance (scheme)
1,999,485
327,000
758,531
2.250,071
276.000
3,085,016
2,526,071
The amounts falling due in respect of creditors payable by instalments after five years were:
2024
2023
Bank loans- element over five years
Deposits held- element over five years
Inot payable by inslalmentsl
Fees paid in advance Ischemel
1,136,018
1.395,287
159,000
76,115
153,000
The bank loan facilities provided by Barclays Bank plc are secured by a debenture over the
freehold land and property (excluding that relating lo the Nursery) at Manor Lodge School dated
23 May 2011. There were three loans in operation as at 31 August 2024.. the firsl being repaid by
monthly inslalments up to May 2026 at an interest rate of 1.95go over prevoiling bank base rate,.
the second being repaid by monthly instalments up to January 2030 at an inilial five year fixed
rate 4.35% Ifollowed by a margin of 2.35% over prevailing bank base ratel and Ihe third, being
repaid by monthly instalments for a fifteen year term commencing December 2015 al an interest
rale of 3.12% over prevailing bank base rate. The aggregate value of secured liabililies is
£2,259,11812023: £2,513,382).

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NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024
Fees in advance scheme:
The school has introduced a Fees in Advance Scheme in June 2024, enabling parents to pay
school fees up front by making a lump sum payment, in return for which the parents receive a
discount on the cost of their children's education.
Subject to specific terms and conditions, the money paid under the scheme will be refunded
provided adequate notice has been given to the school.
On the assumption that pupils wilhin Ihe scheme remain in the school, fees will be applied as
follows:
2024
2023
Amounts falling due after one year:
Wilhin one year
Wilhin Iwo to five years
After more than five years
535,891
682,416
76,115
1,294,422
Summary of movements in liability:
New contracts in year
1,294,422
Balance at 31 August 2024
1.294,422

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NOTES TO THE FINANCIAL STATEMENTS - conllnued
FOR THE YEAR ENDED 31 AUGUST 2024
16. OPERATING LEASE COMMITMENTS
Total future minimum lease payments under non-cancellable operating leases are as follows:
other
Land & Buildlngs
2024
2023
2024
2023
Expiring:
Within one year
In two to five years
In more than five years
6,257
65.076
2,127,627
1,320
76,773
2,180,107
180
109,036
121,854
2,198,960
2,258,200
109,216
121,854
17. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Net income for the year
Dividend income
Inteie5t receivable
Interest payable
Depreciation charges
Decreaselllncreaselin debtors
Increase in creditors
Change in market value of inveslmenfs/re-invested income
Loss on disposal of fixed assets
501,525
18.1761
194,116}
94,253
509,062
4,075
1,185,481
148,0681
609,217
17,548}
185,3141
103.012
444,493
163.7671
321,182
4,792
131,621
Nel cash Inflow from operating actlvltles
2,144,036
1,457,688
18. ANALYSIS OF CHANGES IN NET DEBT
As I September
2023
Cashflows
Al 31 August
2024
Cash ot bank and in hand
Bank loan due wlhin one year
Bank loan due after one year
1,958,309
1263,3111
12,250,071)
308,931
3,678
250,586
2,267,240
1259,6331
11.999,4851
1555,0731
563.195
8,122
19. RELATED PARTY TRANSACTIONS
There were no related party transaclions during the year to 31 August 202412023: no related
party transactions).

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NOTES 70 THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 AUGUST202
20. CAPITAL COMMITMENTS
As at 31 August 2024, Ihe company had capital commitments contracted for but not provided
for in these financial slalements of £NIL12023', £1,406,938).
other linancial commitments are represented by sums due by the school in respect of a
calering conlracl of £40,00012023: £58,551).
21. FINANCIAL INSTRUMENTS
2024
2023
Total interest expense for financial liabilities held at amortised cost
94,253
103,012
22. COMPARATIVE ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
AND ALLOCATION OF SUPPORT AND GOVERNANCE COSTS
Direct
charitable
aclivity
Support Governance
Cosls
Function
2023
Total
Salary and employee
costs
Premises and overhead
costs
Catering cosls
Amortisation
Depreciation
School activities and
excursions
Educational supplies
other costs
Finance costs including
loan interest
Legal & professional fees
Audit remuneration
2,937,102
750,537
3,687,639
521,147
521,147
324,013
281.289
163,204
324,013
281,289
163,204
185,046
61,163
32,391
185,046
61.163
354,665
322.274
105,297
105.297
61,184
19,780
61,184
19,780
3,215.702
2,467,761
80,964 5,764,427