RL'gistLrcd Nv. V3201223 {Ingland and W.qlL.5} St Edmund's Sehool Canterbuiy (A company limited by giiai-&ntee) Annual Report For the year ended 31 August 2024 Registered Charity Number 1056382
St Cdiniind'5 Scliool Caiiterbury lioi. tlie J'eai. ended 31 August 2024 Contents Page Legal aiid ridniiiiÉblFalive iiiloiiniilion Directors, aiid GO'ernors, fL'porl Sii'alegie i-cport 5- 12 DiirLlors' I'espoiisibililies iii the preparation of financidl statemeiit5 13 Iiidepeiidellt $Lidilors i-eport 15- 17 C(Insolidated slalenient of financidl activilies 18 Balance slieers 19 C0115(Ilidated stalenient of cash tIoivs ?0 Notes to the finaiicial statetneiits 21-39
St E(liiiund's School Caijterbiiry Legal and &](Iniinistrative information rfoi. the )ear ended 31 August 2Q24 ThL Hecld.. Mi E G O'Connoi-, MAICai)lab), MPliil Ioxon), MEd (Cai)Ii¢ b) Tl)e Head ofilie Jiinioi. Scliool.. Mr R A Conitort BA, MA Blirsar Complliiy Secretary aiid Clerk lo IhL Govtrnois.. Mr N C Scott-Kilvert FCCA Iresigiied 31 August ?024) Addrcss aiid Registered Office.. St EdFniiiid's School Cantei-biiry St Thotnas Hill, Canterbiiry Kent CT2 8HU Baiiker.. National Westiiiinst¢i' Bank PIC Caiilerbury City Ceiitre Braiicli POBo¥306 I l The Parade CanlLrbLIry Kent CTI ?SQ Auditor.. Croive U.K. LLP 1_8 Fairiiieadoii. MaidsloiiL Keiit ME14 IJP Iiisuraiice Brokers.. AON Ilisli Seiwic¢s Soniersel House 47- 49 Londoii Road Reclliill SLirrey' RHI ILU Marsli Brokers Liinited Capital House I-S PerryTnounl Road Haywards Hcaih Wesl Sussex RH16 3SY Lnvesliiienl Maiiager.. CC.LA Seiiator Hoiise 85 Qiiee11 Victoi'ia Street London EC4V 4ET Page I
St Eiltniiiid's School C<intei'bury Directoi's, and Govej-nors, Report Foi. the yeAr ended 31 Jlugust 2024 Status and administrgtion St Ediiiund'5 Scl)Dul Ivds loiinded ovei. 250 years ago undLr rhe auspice5 of tlie Clergy Orphan Coipoi'ation lo provide eduLatiun foi. the sons of deLeilSLd Llergyinen. It has occupied il% present site ovei'looking the City of Canlerbiiry foi. oNer 150 ye3r.%. In 198? the School bec7& me co_educaliollal. On ?0 MLiy 1996. the Scliool ivas incoiyoi'aled Linder tlie Coinp£lEliCS Act <iS St Edmund's Scbool Canterbllry, a coinpany litnilcd by gLiar<inECC INiiniber113 )n12?3} ciiid iiol lic1viiig¢ i s11Ilre capital. Tl)e Scliool lias beeii Iiccepted as a Reg151ei'ed Cliarity (Number 105638? I by tlie Cl)arity Comnii%sioi) and 18 designated as a Scliool liaviiig a religiou.4 character. The coinpany acqliired i:000 oi'diii<lly sliares of £ l eacli in STEDS Limited (a Ivliolly owiied siibsidiaryl on 5 November 1998. STEDS Limited acts as agent for cenain letting actiiiilies. Goi'erning dociiments T11e Lliarily is goveined by ils Ivleinoi'andiiin aiid ArtiLles of Associalion dated 31 Oolubei 2023 Lipdaled from 20 May 1996. Goveniors recently rcvieived Iliese 11nd iipd8ted them iii lllie witli current best practicc aiid legislation. Governanee Code The Govemors last reVieIed the Cliai"it)' Coiiiiiiission Goveniance Code at their Strategy Day Meeliiig iii Oclobcr ?020 aiid Febiuilry ?019 which coiiclLided that Iliey follow the core pi'inciples. The Goven)ors commissioiied the Asqociatioi) of Goveiming Bodies foi. Indepeiident Schools {AGBIS} to iiiidertake a reviemi of uoverniiiice effectiveness. ACJBIS have Iiiidertakcn over ?00 reviews in the last ?0 years and al'e well placed to provide expert guidanLe on the CUiTeiil piovi.qioii. The review took place in Jiinuary 20?4 and recommendations were Inade lo iinprove govemaiiLe pi'actice al St. Edinund s. These are being implenienied by goveiuor5. Objects T]ie objccls as sel oiil li) Ilie Meinorandum of Associalioii are to advaiice Ilie education uf cliildreii of deceased Clergy <?iid 4iibjecl Ihei'LtO lo adi11< lice the educalioii of the public. Governors Tlie GovenioiE of the SLhool (Ivho are also the Directors and the nieinbers ol. the Company and Tiustees of the Charityl who served diiriiig the yeai. Ivere.. Air Marshal C M Nickols CB, CBE, DL, Icanlabl, FRAeS jci)airl Nqrs J D Billing GGSLVI Ceit. Ed. (Appoinied 31 O¢tobci' 2023} Dr I] R Caircgie MB BS Di. P D Eiclioni MD Mr C C Harbridgc FR]CS IAppoiJiLed 31 OLlober ?0?31 Mrs N J LeaiheFbarroiv Bsc IHoi)s}, DMS, MBA. PGCLT (Chaii. F&GP Conitnitteel Tlie Rewd. Caiioii Di" T J N Naisl7 Canon Di" Q L Roper MA NPQH (Vice Chairl Nlr S M Slitton BA FCA Tlie Lord Mayor Cllr P A Todd Mi. R J Dodgson LLB (Hons) Goven)ors are elected til Ilie Aiinual General Meeting of the Coiiipany and one tliird of Ilieir iiumber retires aiinually by rotation. The 8kills iiiatrix and divcrsit5i Ot tlie govcrnors is takeii i¥klo consideration to ei)sure Ihe 8cliool benefits from a iyidc b<iSC of experieiice aiid backurouiid. The Governiiig Body con51Sts of a maximiim of17 members, one being iiomiiiated by the Archbishop of CanteTbiiry. The Deali &ind Chapter of Caiiterbury Catlieth'al also noiniiiate one member iii recoiJnilion of the fact tliai IhL School ediicales tlie Cailiedr2L I Choristers. Ivliere govemors have served tor nine yeiil's 01- more tlieii. re-election is detenniiied by lot and if the reliritLg govenior is willing lo aci is deemed to have beeii req£ ppoiiiled. Page 2
St Edjnund's Scliool Caiiterbur}
Dii'ectoi-s, anil Govei-nors. Report
For tlie year ended 31 August 2024
Organis#tion
The Govenioi's detellnine Ilie gcnLI'al policy ot the School. The opei'alioiidl niaiiagernent of Ilie Scliool 1.8 delegateLI to the
Head. the Heail of Ilie Jlinior SLhoc)l. the Head of the Pre-Prep Scliool and the BLirsai-, who conii)i'ise the ExeLulive Group.
Iii seltiiig objectives aiid p[arlI]g aclivilies. Ilie Govenioi'g liave giiien caretul coiisideralion lo Ihe Charily Comniissioi)'s
geiicrLiI (riiidancc on public beiiefit aiid iii parliciilar lo its siii)plementaiy piiblic benefit giiidaiice on advaiieiiiLF ediicatioii
c lid 011 fee-cliarging. Govenioi's Ccin coiifirni tliat tlicy Iiave coinplied witli tlie Cliarities Act 201 I to liavc dLie regard to 11111 t
guidc111ce as ivell ii s Iviih Ilieir dlilieg as Directors, to liavc rcgiG rd to Ilie nialters iii 8eclioii 17211 l of the Conipa]iies Act
?006. Thi% dLIty' is lo act iii good faiili to proinole Ilie success of Il)c School wilijlst h<lVillU re(Fard to..
The conseqLieiices of any decisions iii Ilie loiig leiTri:
The inleresls vf Ihc School's eniployees.
The need to foster the conipaiiy's busiiies5 I'elatioiisliips with its siipplier8, Lllstomers and others..
Tlie iinpacl of'tlie School's 01)eralioiis on tlie coininLinily #nd the enviionment"
Tlie desirability of Ilie coinpany inaintaining a repiiialion for liigh slk)ndards of business conduci;
Tlie iieed to act fairly as belweeIi iiiciiibei'5 Qf Il)e COiiiP
St Edintiiid's Seliool Cantej'bury DireL'tors' 2nd Ciovernors, Repoi't ri oi. tlie year ended 31 August 2023 Our etlios: ring School sei-ving our loLal Community and sociel!, {continued) We embi'aLe equal opi)oitiinity &ind art Loiiiniitted to ivorkinv ¢nvironmenl that is free from any t"oiTr ot disciimination on Ilie gi-oiinds of cololir, l'ace, ediiiicity, I'eli(Tioii. geiider. sexiial orientation or disabilily. We (lo aiid ¥Yill inake reasoniible .Idjiislin¢nls lo Iiieel Ilie needs of staff or piipils ivlio Lire or who becomc disabl¢d. Tliis includes adapting workspaces and comn)Iinal ai'e<iS as well Ils considei'iiig tl)e wellbeing ol- seliool nieiiiber5 to ensiire their emolioniil need5 are also iiiel. Going coneern We continiie lo prepare Olif dccoiints. on a going concern basis as we have adapted to the challentses faced thi'oligh tlie ieceiit Lhaiigc iii ¥oveinJnenr and raxalion legislation the nio.qt sigiiificant bciiig VAT introdiiced lo indcpeiident school fees om I. Janiidry 20?5. Tlie scliool ha% showii support to pai'ents in sl)aring the bui'deii ot VAT imposed aiid Impleenti1]g cost saving IneasLire5 Iv InitlLsale Iliis inipact. Debpile tlie iiiui'eLise in tlie cost of living dffecling organisalions cind iiidividuuls Lilike, tlie Scliool reiiiiiins iii a strong linancial position. The Scliool lias beiiefilled from 3 long-lenn fixed eiiei'gy price deal14 yeai'5 to iinlil Aiigust ?0?41 Ivl)icl) lias pi'otected it froiii thc liiige iiicreases in tIIose cosls llnd a iiew coiili'i( cl Iia.q iiow. beeii entei'ed into Loveiints lo Aiigust ?0?7. Other expeiiditure has beeli niaiiaged effcelively lo enstsi'e Ilie Seliool's fiiiaiices, remaiii robLlSt. Tlie ui'oup has reported an overall de*icit of (£118.4?61 (20?3'. sLpIlls £10.5081. The Groiip's iiet ciirrenl (liabilities) dssets {£?.092.5171 (?0?3'. £159.5071 ai'¢ supi)orled by a stron(T net asset base of L5,183.375 (2023: £5.301.800) and the ediiLalion ot the piii)ils has rettiined lo more normal Londitions in ihe current academic year. Cash floNv torecasls presented to Goiiernors cor]finii Ihal tlie School lias sufficienl retained and trading funds lo fiilfil ils slioi'l and lun¥ lerrn finanLial obliuiations. Tlie Scliool also hlls tl)e support ol its baiikers and Govei'nors Iirc confident Ilial tbe piipil nliinbeis will coiitiniie lo reiii<lill St<lblL and al'e tlierelore coiiteiil tliilt Ilie School coiiliniics to be a goiii4 colicei. Tlie M ichielmcls ?n?4 piipil iiiinibei's siippoi'L tliis witli 640 beiiig Ilie CiliTenl popiilation conipared to 645 for ichaelniAs ?02J. .luditors The auditoi., C.I'owe lJ.K. LLI) Conip£iiiies Act 2006. vill be proposed toi. Irappoiiitment in aLLordance ivitli section 485 of the Statement Js to disclosure of infoi-niation to auditors In so far as tlie dii'ectors are awarL'. Il)cre is 110 relevani aiidit iiifornialioii of wliicli tlie cliii I'ilcible compaiiy's auditoi. is unawai-e. aiid the dii'eclois ha't t4Trkei) all steps tliat Ihej. ouglit lo liave taken ro make themselves gtware of aiiy relevant audit iiilorm&)tion and lo est<iblish that Ihe auditoi" is aivaii of Ihal iiiformation. By order of the Board Air Marshal C M NiLkols CB, CBE, DL, MA, FRAeS. Chainnaii Dale Page 4
St Ei diniiiid's School Canterbury Strategie Report ri tsr the }'eai- en(led 31 Aiigust 2024 Appointinents And Nomination proeediires Tlie Chair. ViLe-Cha2r lind the E.Kecutive Group coinpi'ise tlie Guveriiors. Noininations Groiip. Per.goiis SLiggcsled as possible tntmber% ot. tlie Goveniing Body 8iibmit a ciii'i'Et'iiliiiii iiiiac and have a pi'eliminary intei'view with tlie Chair Llndloi- Vice_chair. tol1i),ed by R Iiieeling iviili Ilie fE211 NoiDi11cl tioiis Group dl wliiLh linie they also ioiir tlie Scliool. Oli Ilie iecomiiicii(lalioii of tlie Noiniiialioiis GIDiip, noininccs are proposcd to a full Goveinors, Meetiiig for election iiiider Aiticle }? ol- tlie Mcinuiandum and Articles of Associalioii of Il)c Coiiipany, i.e. Lllltil tlJe iiext AGM of tlic Conip£llly. All new Goi'cimors arc provided Nvitli £1 'Gnvernnr£ Pack. Ivliich iiiclLides copies of tlie Menioraiidum aiid AFlicle.% of Association, minLile.q of CJovei'nor Mcetiiius for the precedii) year, prospectus, slatulory accouiits aiid any addilioii<il iiifoniiatioii LoiisidLred relev<l1i1 at Ilie tinie. Ali i2)duclioii pi-ograniime is iiiaii{iued by the HR departmeiit aiid includes safegiiardiiig, EDI, IT systems. fire: l)ealth and .8afety Iraiiiing as well as a toiii. of tlie S¢liool including ¢1 visit to tlie stalt. common rooims. The HR deparlmeiit aiid Clerk to the Governors also manage the oiigoing Ii'aii)ino reqiiirenients of new ai)d e.iislinE Goveniors lo eiisiire all stattitory obligalioiis are met as well a5 aiiy knowledge gaps are deali with approi)i-iately. When a neiv G(Iveiiior's appoii)tnienl is tonnalised al a Governors, Meetiiig, Uiey are appoiiited lo one ot.the siib-coinniillees aiid .ii'e alloc1£ ted (ln expei'ienced Governor as <1 Iiientor. Tlie Govemiiig Body requires a balance of bi'e&idtli aiid depili of Cxperieiice in order ro disclio1.ge its dLlti¢s cffcctivcly aiid eiTicienily. Wlicn rccniiliiig new Govenior5, iiiiporlanl allributes are a passion foi- Ilie work of our Scliool and ali undei'st<indiiig of education as a liolistie aiid rounded expei-ience of per.%oiial groivih. Tlie Governors considcr that {wherever possible) the 8kills and experience of the Board should include Ilie followiiig-. ediicalion (incliiding .8afegiiardingi' fiiianLe and acLouiitiiig' laiv (especially charity/propeityleiiiployiTrent); seiiior niaiiageinent aiidlor biisiiiess,. cl3I11'tered siiiveyor,. eqii¢il OPPOthiiiities or disaLiility needs; ai)d ii)dividuals willi Cliri5liaii priiiLiples. The kasi majlliitj of Cioveriioi's Iiave niaiiagei'1¢il and biisiiiess experieiice. The Board as a wliole has considerable cxpei-iciice iior oiily iii ediicatioii aiid fiiiaiicc. but also iii welflll-e. ArrAnoenient5 for settints pav and remuneration of kev managenient personnel Th¥ Lcy manauctncnt pci-bonnel of tlie chai'ity. comprise tlie board of Goveii)ors and the Head siipported by a Senior Leadership Team. whicli includes Ilie 14ead of JLinior Scliool, Head ol Pre-Prep 2nd Ilie Bursar. Tlie Cliair. Vice-Cli<iir and a Goveiiior Iroin tlie Ediicic tioii and Staffing Coi)iinittee constitllte tlie Remiineralioii Coiiiinillec Ivhich ÉlPPI-oves Executivc Group goals and appropriate targets {iiidividiial aiid collectivel aiinually. The three Heads and the Bur.sar.£ubmit theii. paperwork to the Rcmuneration Committee for coiisideratioii, pay rises are awai-ded on the basis of the Reiniiiieralioii Cominillee's assessme111 of the ii'oi'k and i)rooiEss acliieved, together with appropi'iate beiichmarkiiig data including sector specific paid for rLsearcli {i.e. Baincs Cuilei. Salary Siii'vcySiAGBIS guidance) and local market uo)nditions. Sub-committees Tlie Governors have estlc bknslied tlie followiiig sub-cominlllees H,Iiich are each governed by teiins of reference wliicli are I'evieived aniiiially.. Finaace and General Purposes Committee Revnit: To oversee the findncial and biisiness operations of the School (including findncial planning and maiiagenient. bLidgetiiig. aiid debt recoiiery). investments. marketing.qtrategy. interaLlioii with external auditors ineliiding maiiagenient letters and the biidgel and allocalioii of Testricted fiinds raised. Development and Estates Committee Remit: To oversee Ilie School development plan, biiildiiig sit pi'ojecls, niinor woi'ks progi'aninie. niaiiileiiaiice l inclLidiiig prioi'ities, plaiis lid implenieiitatioii} and assessnieiil of niajor pi'ojects; to en.qure conipliance viih all l.Jealtli aiid Safety, Disclbility ACCLSS, Discriminiltion aiid Special Iieeds policies. to moi)itor all seciiiity. letting, and (kse of iilililies litI)in the School inclLidinu those ol-the 511bsidiary coinpany. STEDS Ltd. Page 5
S( Ei clmiind's Scliool Canterbiiry strategic Report ri or the year elided 31 Aiigust 20?4 Sub-committccs (continued) Education #n(1 Staffing ComTnittee Rejijit: To Q¢7.5ee statFingy Inattei'5, inLILiding pei'soiinel poliLies {Di.qLipline. GricvanLe aiid App17isal proLediii'es}, staff developtnent and PCFForm.?iice, remiineration of senior staff, educational policies of Ilie Scliool and Ilieii. imi)acl oli slarriiig- tn stipeiii)leiid Ilie paslor<il and coiiuiiuiiily eiivirDninenl iviiliin the School ineliiding 11)e monitoring of the Safegiiai'ding of Children and Special Educationiil Needs <111d Dis£1bility policies. The HLad aiid tlie Bui'sar attend all nieeliiios of the CoiiimitleLS. Inspection As part of the i-ollin pro(Framme of inspections: St Edmlind's ivas iiispeLled by the Iiidependenl Scliools Iiispeclorate (ISI) in Imarch 20)J. This included botli a Regulatory Compliance Inspection and an Education1< l Quality Inspection. The Governors weir delighted Ilial Ilie Scliool not only mel all the reqtiiied coinplianLe slandaFds biit has also been rated as Excellent in all arcas, spccifically tor piipils, acliieveiiieiils aiid dev¢lopnient. In the Spii11g or ?0?3. the Headniaslei. notified the Deparlnieiil of Education Ili¢lt Ihc School wished to iiicrease it% maxiinlini capiicity fiom 650 to 670 piipils diie to the coiilii)Lllll¥ iiicrease iii demand foi. places al Si Ediniiiid'8. The DtE continmed the increa5c in niaxiiiiLim piipil capacity to 670 on 19 October 20?" Academic Standards Tliis year saw a 99 /0 pass rale al A Level (2023: 990/01 59 /0 of A Level gindes ivei'e A B grades {?023'. 54% } 75°/0 of A Lcvcl gl'ades were A_C grades l?0?3: 76O/ul 9 Acadeiiiic departmei)LS seoi-ed l OOQ/o Sliccess ciE gaining A_C grades for their PLLpiIs. 830iy of sttidenls eanied pl£iees at tlieir first choice uiiii.'ersity EPQ I'esiilts coiitii)Iie lo be sli'ona ii.-ith 55 /0 gainino A ui. A (2013= 500/01 and 91 /0 A*_C (?023 IOOQ/g). GCSE Tesult5 'ere again exLellent given the learning disruption during COVID expei'ienced by this yeai. group The pei'cenl<ige eqiiiv£ilenl of 9-7 grades al GCSE wu5 J70/0 (?0?3.' 36 % ) Tl)e perceiilage eoLIiViileiil of p2sses al Grades 9-5 ut GCSE w&s 75, ?023.. 740/ts) Tlie percentL1Ee eqiiivalenl of passes at Gradcs 9_4 at GCSE Wit s 900/¢ (?023.' 88'/0) 13 subjects Iiad a l OOO/o pass rnte al 941?0?3'.8} Co-eurricular Offering The scliool provides a broad and i'ich ¢o-UUrriLiilar offeriiig with the School's Lore values at its heart. This aim5 to develop leadership and Lommiinication skills, resilience mental Iiealil) and pliysical well_being. The programme iiicludes= Coiiipreliei)sive Spori and PE programine Rcgiil<ir coinpetitive fixttii'es willi otlier schools ScliolaTS' pi-ogi'&ninics for acadernics, miisic, dratna, art ¢liid spoirts Friday afieri)001) Skills & ScETr'ices tiiiie Combiiied Cadet Foi-ee DLike of Edinbiirgh's Aivard Scheine Woi"k expei'ieiice tor Yeai. 10 PLipiIs 'The CLlI'iOSlty Shop" liiiichtime leLtiire series Over 40 weekly co-CUlTiciilar clLibs aeross tlie tl]ree schools (sporling. CLiltiiral and acadeinic) Ei2St Kent Cliildren's Orcliestr Miiliiple clioirs. eiiseiiibles, baiids llnd orcl)eslras Higli quality Di'ania piodllctions Page 6
St Edmiin(I's School Caiilerbury Sti'ategic Report For tlie )'eg1' ended 31 Augiist 2024 Co-curriciilar Offerinl (continued) Proui-aiynieg for Drama aiid Music Scholars INTERACT - Cliaiily ELindraisinu Loiiiniitt'ee Le¢idei'sliip opportunities ii)LILidingi SLlioul CuiinLiI, piylects and Hoiiselspoils tyaplains Debaliiig Societi, L5 Oiitdoor Activity Week Creative Saturday moriiiiig pro¥anime ivliicl) employ5 Outside specialists in areas sucli ts First Aid llnd Iiiteriialioiial Cuisine Aiiiiiial Eiiriclinienl Iveek for all pupils in ycars 3 to 8 as well as vai'ious ediicatlolliil trips, day and resideiitial, for all yLur giDups Extensive ian¥t olotT_site trips offering IoLal aLademiL enriclimeiit visits lo the local universities on Ilie School's doorslep lo inteiralional expeditions In October 2023 tl)e Scliool ivon the iialioiial Pei'fonning Arts Scliool of Ilie Year awdFd Public. Benefit Our primaiy purpose is tlie provisioii of educalioiial seivices lo youiig people aged 2 to 19, drawi) fi'om as wide a cross section of tlie PLiblic as possible for iiihich ive offer somc fee discou]it8. Almost all of the fee discouiils consi%t ot scholarships and meaiis tcstcd biirsaries. Olir ediiLatioiial .services. based 01) Anglicaii Cluistian principles. Lonsislently exceed national benchmarks and incliide a range ot 8Libjects not widely 1< V<1ilable. Oiii. aim is to develop confident and capable young people, with leadei'ship poteiJli.Il, who can Iiiike a posilive Lonlriblitioii lo society. Witli tjie fiii<incial assistance of tlie Deiin lind Chaptei- nf Caiitcrbiiry Cailiedral, we ediicclte some Caiilerbury Catliedrcil Clioi'isters ivlio are drawn from VOCÉilly aiid ii)Lisically able boys from a wide cros5 scclioii of Ilie coiiimuiiily. TIILir selectioii ai)d edLicatioii at Si Edniiuid s is iiot dependeiit oil Ilie ability of their faiiiilics to pay Scliool fees. bul on miaiis-te.£ted biii's¢11ies provided by vai.ious cliarilies includiiig Si Edmund's Scliool. These Chori5tcr5 hai'e proN'idecl 11lllSiCEII OLltI'ec2cI) Ilii"ouuliout the Dioce8e aiid hiive been an iiitegral pait of Il)e cliordl 8eii.ices Il)at liave been broadcast natioiially and inleniationally. Tlie Indcpeiideiil SLliool CounLiI Lominis.4ioiied research Lisiiig the O.xfoi'd Econotnics Asses5meiil Tool into the finanLial imp1Ct of the piibliL beiiefkt tlial indepeiidcnt scliools pioi'ide tn both their local area and the UK'S GDP. Si Ediiiund's Scl)ool was evalii&?led as coi)IribLiliii¥ £15.6m lo ilie UK GDP and £9.6m lo Ilie Canterbury local aurliority district last year. Addirionally, we Iiave beetE 17ssesbed as siipi)oitillg i)early 450 jobs i)ationLilly, of ivhicli Ivell ovei- 300 Kicre in OLir local area. It was also calclilated tlial St Edimiiiid's Scliool saved tlie UK t<l.xpayer £3.111i iii the last finai)Cl<il year. The Scliool hds established a nLiniber of muttially beiieficial links with maiiitaiiied Schools in Canlerbiiry, offering PLipils fi-om divei'se backgroLinds the opportiinity to worl( logeil)cr the context of Gifted ai)d Til lenled exteTh5ion Ivoi-k, aiid iii joint activiliLS siicli as mLlSiC and maths workshops, aiid to enjoy having high pi'ofilc visitiiig %peaker% Irom the local Lotnniiinity and beyond. We liiive been sympailietic toivards the pig1]t ot Ukrainian faniilies with the ongoing iiivasion of their country. We CillTently pi'ovide 13 Iree places to pupils ii,lio liave tled Iioin Uk]'aiiie across a nLiiiiber of year 'ol1p8. Additioiially, we haiic i'un a niimber ot gadierings foi- displ<iced Ukraiiiiaii f£iiiiilies to niect new people froni Ilie Caiiterbiiry <irea. The SLhool establislied the annual St EdinLiiid's School Festival ii) June 2017, Ivhich is opeii to, aiid atteiided by nieiiibers of tlie local coniniuiiity <liid coiitiiiues to t*roiv iii scale aiid reach. St. Edmuiid's is an ii)Gredibly active menilier of the East Keiit Scliools Tooether projccl, oiir He<id and Assistant Head liaving 5peiil the ?0?0121 as Chairpersoiis, a partnership wliicli brinus to(rether I I stale and indepeiidcnl Scliool% along witli a iiniveisity. Tl)e paitnei'sliip ainis to enhaiiLe the leaching and learning of childi'en lll Ilie SLhools bv sliaring best pi'¢lLtice. organising teacher meetings and exchaiiges and providing opporftinilies lor piipil collaboration in creatiwe and acadeiiiic projects. St. Edinund's was asked by Ilie local aLltliority to help siippoi-l a local state scliool, Arclibisliop's, and Iliere are a iiiimber of pi'ojects tlial we are Kvorking on willi tliein incliidiiig a CCF partn¢rsl)ip allowing over 35 Arcl)bishop's pupils to beiiefit fi'om our excelleiice and leadership in thiq area. Childreii froiii Ll Ivide raiige ot local PFimary 8chools have eiijoyed KS3 experience days ivith lis. The Pi-c-Pi'ep School orfjaiiised 'Toddler Time, NLirsery activity sessioiis each half lemi for local pre- School children as w'ell as Saliirday activity niorninls foT 2_7 year olds thToiiuhoiil the yeai.. As pai'r of the Senior School Skills aiid Seivices Pro-aMMe every otlier Fi'iday atlernoon. piipils do volunteLY vork willi local Lharities dnd in local primary SLhools. Page 7
St £dinund's SLliool Canterbiiry Strategie Report Foi. the yeal. ende(131 August 2024 Public Benefit (continued) We proi'ide opportiiiiilies foi- pupils and teachei's fi'om overseas Schools lincliiding USA, Sweden, FranLe, Pul(ind, Geni)¢11ly aiid Japan) to .spend tinic al St Ediniincl's. We h'e a fonnal link with rlie Bilkenl U21iversily in Ank-ara. TiiikLy IN'iili whiLh ive haN-e Iniitllcilly benefiLiiil edLicalioiial links in tenkns of stiideiit and slaFf l¥ktLlier tt'aininLY Si EdL)Iiind's iin-diiged foi. exteriial speakers lo pi'e%enl ali divg aw,Ireiiess, E_salety, Geiider Idenlily and Future Carcers inviting i'epresenlalives from Ioc£l1 Scliools - boili Inainlained and iiidcpendent - to allend. St Edmiind's were ag4lin pait of ali Al't Coll<1boratioii Project, bringiiig pupils togyeiher oiiline across IoLal scliools. St Edimiiiid's 111115 the Ea.%t Keiit Cliildreii's Orcliesti'a. Nii.q w'as formed for childreii under tlie age of I I froni aiiy Scliool, who play clloiigside oiir owii Juiiioi. School pupil.%. This has allom'ed development of the School's ovei'811 orclieslral piovision, and we also niii a Si. EdTnuiid's Symphony Orchestra opeii to commiiiiity players. Thi5 is an ensemblL for advaiiced player.4 in the commiinily. up to the aire of eigliteen. A Cl)oial Society open to all local adLilts, running fur oiler 20 years ciilminates in an arniual perfoi'mance in Canlei'biiry C¢1thedr<ll. Tht iirea Diike of EdiiibLlr AwJrd's evening ivas hosted in Ihe School's Ihe¢itt'e in 2023 M*itli PLipi15 froin several loclll scliools in allendance. St Ediniind's cncoiir£iged Ioccll scl)ools lo have access to OLir Menu of Opportunity (online learnillg uknigazincl ii'ecklv IliroLigl)oul Ilie lockdown. Tlirouoli liiiks ivitli tlie Englisl) Cl)ambcr Orcliestr£l. the East Keiil Childreii's Orchestra provides tlie basis for Ci'eative Connectioiis, a 5chenie which lalces profes.%ional niusicians into prirnaiy Scliools iii tlie area. Olir Mtisic School lacililies are opeii to local aiid nalioiial oi.gaiii.salions (Slich cls Ilie CaiiterbLlly Youth Choir) as a centi'e for pcrfoniiing IL rts and as a I'esoliice foi. teacliing and public perf017nance. We offer ivork e.xperieiice opiiortiinilies for local youiio adLEIIs diid are LilentlY siippoi'ling a college studeiit witli their Early Childhood LOllI'se by spending tiine in the Niii-seiy and Pre Prep sLhools. The Scliool niiis a IiLiiiiber of Opel) DLlVS throiiglioiil Ilie year welcoining Ilie local coiThnuiiity lo con)e aiid see wliii I Si Edniund's Scliool hLiS to offer, Oiii. Di'ama depai'tnienl PLII on & nuinbbr of PLrtornianees open to niembei's ot the public, performed by nieiiibers of all thi'ee Sclioolg Miiih a special niatinee pei-foi-niaiice for over ?50 primaiy school pupils. FuLir %eiiioi niembers of tlie Scliool are Goveniors in local siaie schools aiid niaiiy other slsjff members voliiiiteer ¥-itli local and liÉi tional cliariiies. We provide extensii'e additi()nal publiL beiiefi15, foi- example.. Indoor spoi'ts facililieb. tennis LOLlI'ts, tootball pilLli#s ai) all weatliei. pilLh - all uscd by nLinieroLiS local sports (TroLIPb Ilt only a noininal cliarge. The Scliool spoiisors a nuLllber of local grass roots sports cliibs Iielpiiig tliem to purchase tnuLli needed eqiiipiiient and sports kil. Fiindraising.. iii 20?3-?4. Ihroiigli cliarit2L ble activities by oui. pupils 2nd staff, doiiated £9,655 {2023.. £11,748) for local aiid Iialioiial C<luses. A Rotary tNTF]L4cf Cliib run by seiiior pupils coordinates all tlie Seiiior School's charitable fiindraisiiig, eomiiiiinity service and iiitei"iiatioiial giving. The Jiiiiior School, iii conjiiiiction witli the Uiiiversity ol'Kenl. operates a Maths master class loi- childreii fi'om local Primary Scliools on Satiii-day moniings and it.q staff have been instninienlal in setting lip aiid ninning an Inter Priniary SLliool fvlailis cotnpelition. Led by the Royal Instittition. Iliis is riill in conjiii)clion ivith Si EdTnund"s and tlie Univei'sity of Kent. Facilities are made available Ioi. VlL ri011s organisalioi)s including Kent Fire Brigade and Ilie NHS with Kenl Fire Bi-ig£ide niiv)iiig a praclice fire simiilation on site duriiig the year. Facilities aiTailable foi. Kent Coiiiily Coiincil li'aiiiing courses al'e i"egiilÉirly utilised. Tlie School taLilitie.q were used lo host the E<lSt Keiit Woiiieii"s Iiistittite's Centciiary Garden Party in ?0?? witli over 300 meinber5 iii attend?( nce. Use ot Theah-e aiid Recital Hall for a number of ortraiiisations iiicliidiiitr Cantei'bury Festival, CanterbLlry Choi'al Society YoLiih Choir ai)d cal.it Chamber Clioir Calltei'biiry Art Prize Si Edniiind's Scliool introdiiLed this p172e iii 2021 whieh opens lip OPPOMinilies foi. local Kent scliools lo parlicipate, win awards and eertifiLation ivhilst also hailing the opporlLinily to exliibil in Si Edtniinds aiid at the Lilford galleries, Canlerbiiry. Spoiisored by The Caiiterbury Auction Galleries. Ait maslerclasses offered to EKST parliicrship scliools during Saturday sessions (Introduced in 20211 Page 8
St bdintind's Scliool C&2lltei"bury StrategiL Report i Di. tlie i'e14 r eniled 31 August 2024 Financial Performance Tlie i"eLent consideiable inLrease iii the cost of living has had ali iinpaLt on orgiqllisLltions and individuals alike in the last Loiiple ol'yedri, bLlt the S¥hool hJb benefilled froiii sti'ong Lost Lolltrol measures inLILidino a long terin frLd eiiergy deal {4 years to Aii&Jusl 2024110 lielp iiiiti(TIL te soine of the eflect oil Ilie Scliool's fiiiii)ces. The School's maiiageii)eiil conliiiiies to ¢ diiiinister Ilie tinaiices effectively ai)d willi piipil niiinbers inLrcasiii&F to r¥cord levels ilic fiittii'e coiiliniies to be positive for St Edmuiid's. Tlie Scliool's Goveiiiors al-e miiidful of the pi'essiii"e5 Qn pai-eiits dui'ing IhesL difficult financi21 periods and coiitiiiue lo ivoi-k witli tliose f£iniilies Ilial are stfLiggling lo ensure Iliey are able to fulfil tlieir comniitmenls to the School in a niciiia8eable NN'ay. The School i'eceived gross fees of £16.915,503 12023.. £14,7?4,0881. IliroLigh a combination of iiicreased pupil nLimbers and aniiiial fee rises, out ol. Ivl)icli Scliolarships. BLirsaries and other allowances totalling £3.475.06112023'. £3.195.1731 were Inade, Ic2( viiig nel fee incoiiie of £13,440,4411?O? J.. £11,528,915). A combinalioii of fiiiancial pressiires on fainilies aiid the compelitii'e nature of tlie local school market lias 8een £ln iiici'eose in Ilie remissions awarded lo eligible families beyond iiiitial expectatioiis. Tlii.% is expected to steady over the iiext year. Oiliei income iiicludes Ihal froin tlie School's trading subsidiiry. which has Continiied to operate at pre pandemic levels, with total other inconie bein(F £574.6111?023.. £581,509) giving a lot(Il income for the yeai. of £14,015,05J l?023.. £17 110,4?41. Incliided iii other inconic i8 a Testricled donation of £61.5341?023'. £?50,000). Thc School's e.xpenditure, incliiding Tradintr Siibsidiary, lias increased at loiver level¥ thi¢ n uiidei'lying infl<ion aiid was £14.2?1.872 (202J.' £12,OEi,671 } resiiliing in a consolidated deficit of (£118,4?61. {?0?3-. suiyliis £1 O,iOS} after otlier I'ecognised gdins and losses. Capital expendiknre amounted lo £3,725,973 120?3-. £393.0701. Tlie Groiip's iiet ciirrenl (Liabililiesl l assets {£2.092,5171 (2023: £159.507} are siippoi'ted by a strongy iiet asset base 01 £5.183,375 (?0*3.. £5,301,800). Tlie Ivholly ovined subsidi.iry STEDS Limited pi-incipal activity of the conipaiiy coiitinued to act t¢S iiueiit foi" Si Edniund's Scliool ii) re.gpecl of cei-taiii lelliiius acliiAilies. Tl)e profits lor IIiL year L39,4?8 (?0?", £1 J3,7i31 are distt-ibiited iiilo tlie schuol parent CDmpL?l)y linder gift aid and net assets are £34 ?00 (?0?3.. £34.?00). Ke}. Performance Indicators Govetnois iise Ilie Énfoiinalioii conlaiiied ui the tsble beloiv to review perfomianLe against key performaiice indicaloi's. 202312024 650 7022120?3 639 202 112072 591 20201?021 201912020 570 2018n019 572 Aver?d ge .No. of Pupils Tot#1 Siaff cost5 perce TrÉdige of Gross Fees Teaching Staff CDS ts pe reentii c of Gross Fecs MeaEa5 TestedBursarie5 e ofGross Fee5 559 j7.0I0/. 56.40Tr/4 55.91V. 58.7P/ 6? 97/ 56.05'/0 43.94'/ 4? 7y/o 44.36/0 50.87/ 45.040/D erce 4.58/ 5.?0% 4.79Y 4.441 3.47D/o For academic perfoniiaiice please i'efei. lo acadeniic slaiidards resiilts eai-lier iii Ilic report.
St Idmiind's Scliool Canterbiiry Strategic Reporl. ror the Jear ended 31 August 2024 Energy And Carbon Repoi'tino Tlie Scliool lias conimeiiced I'ecoi'ding it5 energy u.sage and embarkcd on an aiiibitious plan lo Itduce it8 carbon foolpriiit lo net zei'o by 2030. li has Lominissioiied an enei'gy LonsiilidnLy lu help with iliis pi-oject and is in the eai'l). stages of a55essiiig the exisliiig inti'8btniLttire before developino pliins for the I'ei)laceinenl and Lipginding of tlie School's facilities. Tlie first Pcirt of tliis projecl is to Lindersland oiii. ciirreni sel lip Lind tlie table beloiv deiiioiistrales tlie differing fuel types and Ilieir ilsagc for tlie Iclst h410 ye11 rs. Ai this slGigc very liinited nieasures li1< ve been put iii place lo rediiee Il)e Lisage levels, .?IIlioLigli all of Ilie School's liqhtlllE Iiiis beeii clianged to LED, coiisidei-ably reduciiig the elecliicity ge. We al'e a150 iniiesling tiine ii)to the educ¢ltioii of slaff and piipils lo ensure the enei'gy we do iise is iised wisely. This iiicILides regiilar reniindei's lo turn elLCtI-i¢al iteiiis and lighib off w'lieii not being LTrscd. the redLiced iise of additional heate iii spaces and sensible Lise of the opeiiiiig aiid closing of ivindows and doors. These initiative.g are beiiig led by the Carbon Coiincil, Studeiit i'oice body, Ivhich is also ivorLing on improved i'ecvcling aLIo85 the enlii-e sile. Fuel Ty Usage 2022123 Usage 2021122 2023124 Electiicity s - Main5 896,294 kwh 1,496,599 kwh 1? 764 lilrLS 907,330 Lwh l.J28,2?J kwh 15,670 lilres 67,100 litres 20,-f?O hire5 58? i&lres 899,377 Icwh 1,578,017 klvh 17,306 iilres Ckis - Pi"opane 14tÉltllig Oil Veliicle Fuel- Diesel 65,991 lilres 19,678 lilres 691 litrcs 65,571 litre5 18.08J lilres 759 litres Vehicle Fii¢l - Petrol 2023124 20?2123 202112? KG Co2 KG Co2 KG Co2 Electiicily s - Maiiis 412.295 417,372 730,i?3 8.619 413,713 867.909 9,518 49,17 823,129 GI5 - Pi'oi)1L ne Healing Oil Vehicle Fuel- Diesel 49,493 14,7)9 518 15,390 Vehicle Fuel- Petrol 569 TOTAL KG Co2 IJ07,215 6)8 1,222,664 639 1.354,451 Average Nllmr of Airrage KGCo2 per pupil 571 1,987 1,913 2,372 Page 10
St Ldmiiiid's Scliool Ci¢ ntcrburj. Strkltegic Report Strategic Report lor the year ended 31 August 2024 Burs4iry aild Scholarship Policies Biirsary <ind s¢liolai"sliip aw£irds are vil<il in ensLiring that children fFOin families wlio ivoiild oilieiivise iiot be able lo afford tlie tees C¢lll hclv'e acLe%s lo the ediic81ioii we offer. We do iiot have a lai.ge endowffient and in funding our aw&ilTls we need to ei)sure a b¢?laiice between fee-payiiiu pai'eiils Iniai)y of ivlioiii Inake considei'able personal sacrilices to fund tlieir Lliild's ediicalioii), Giiid Iliose bei)efiling fiDin the awaiyls. Our bui'8ary aivard8 21-e available lo all who meet oiir genei'al eiilry reqiiii-cnieiits and are made solely oil tlie basiq of parental means or to relieve liardship ivhere a piipil's ediici£ tion ¢ind tUre prospects would otherwise be al ris1(, for examplc iii the case of redund£lllCy. The awards ciirrenily rai)gc fiom 5 % lo IOOO/n of fees. Si EdinLiiid's provides for sorne 100 /, biti%ai-ics ivliere it has betn determincd that a place at St EdmLind-'s WOLild benefit a cliild's educational andlor pastoral ivelFare. St. Edmiind's siipported l 6 piipils {202J.' ? l ) with l 00 /0 bLirsai'ies ii) the year. We also offer discoiinls to Inembers of the Aniied Foi'ues, other eivil setvaiits in I'eceipt ot'CEA (or eqiiivkilcnl) and lo staff nieinbers W'ho choose to ediiiate Ilieii- Lliildren <lt our Scliool. All bLif5aiy aivards are subjeLI to financial needs absessnient. In line with OLir objects. ve also offer siipport lo orphans of clergy faiiiilies. Our scholarships ale awarded oli the bic sis of Ilie individii£il's ediicational aiid exti.2curriciil&r merit or potenti21, siibjeet to any coiiditioii iniposed tor pai'ticular awards by Ille orlgiiial doiior. Acknoivledgement The Govemor.8 are unaniimous in cxpre8sing tlieir appreciation to the Executive GIOLIP and all the members of tlie Teacliin aiid BL15iness SeiviLes staff of St Edmuiid's foi- their continued support diid iiiistinting contributions to the SilLeess ot'the School. Investment Policv and Poivers Tlie Scliool's investnienr poivcrs are goi'eincd by tlie MeiiioraiidLllli of Association, which perinits iinrestr2cted fiinds to be invested in aiiy seciiiily 01- iiivestments aiid pi'operty, a5 Ilit GovenioE'S feel appropriate to the Scliool's needs. Tlie Goveniors, aim is lo niaii)laiI) the I'eal value of invcstmeiit capital, with bciiefits pruvided to pupils coniing fiom the income generatLd by invesimeiirs. The tartrel aniiLial inp'eslmLlIt rLttiiii is inflalioii plus )'/0 based on disc115sions Nvlth Ilie i'elevaiit inve.stment Iioiisc <iiid Goveimor5 'hen deleiinining Ilie level ol Fislc tor the School 8 inveslTnents. Tile a¢&1 return reported is 4.75 10 1202)- 4.75 % j wliicli is beloiii the laTgeted level ot. rettii-ii likely diie to an overall glob1& l economic doivnturn and unusLialls' higli intlation level8. Investment Porrfolio Pcrfortngnce Tl)e Governing Body reviews Ilie performaiice of tlie ii)veslmeiit poi'tfolio each quartei. agaiiisi the iiiovement iii the FTSE 100 iiidex aiid 5iiiiilar poi'ttolios aiid sccks explaiialions whei'e necessary fi'om Ilic School's investment nianagers. C.CLA. Governors are pleased with the perfonnance aiid reporting by CCLA lakiiig into account the cballengiiio perlod for li1.es1nielits w'ith the many extenial factors iiifluencing outconies iiicliiding abnorinally high global inflalioii aiid ilikresl rates. Reserves Policy The Scliool's Policy is to inainlain working capital siifficienl lo ensure that shoit-lenn risks can be covered adequately in len11s of easli floiv and aini to add io reserves a iiiiniiniiin SLirplus 01£ l 00,000 each year end. The reserves policy is revielved on cl relIar basis by tl)e Governors. Tlie niost likcly risks are ali iiiiforecasl rediictLOll 111 piipil numbers. a sioiiifiL¢ll)I iepair I'cqiiii-en)eiil in Ilie Scliool's iiifrasiructtii'e oi. exlenially iniposed lax or pensioiis clianges. While tlie Board lias r¢eo(Fiiised tl)at its long-tenn aspsratioii for grcaler I'eservcs is dirricult lo acliieve th'lien Fixed Assets are excluded, il has agi'eed that, al preseiil, aiiy 5uIFluses ovei. the miiiimlim siirpliis will bc spciil on rther iniproviiig the facilities of the Scliool for CLirreiit aiid fiilLire ueiieralion5 of pupils. The Scliool has ali anibitious development pllln of new buildings and refiirbislinieiils when fiinds becomc aijailable. In line with many other schools in tlie independenl seLtor and across numeroLlS Other sectors. the COVID_19 pandeinic had a signiFicanl eftecl on Il)e Seliool's liiiancial perfoniiance in receni years. Tliis resulted in Ilie School's Reserves Policy lo incirase reservcs by a minitnuni of £IOO,000 being temporarily siispended to support the education of oiir pupils. Despite tlie oiigoing cl)allLiiges affectiiig tlie independenl sector and Ilie broadei ecoiiomy the Goveniors are coiitenl to re-eslablish tliis aini in the 51)01'l teiTh ivith tlie ambitioii nf taking advantagc of tlie coiititiiied iiicre1c se iii pupil numbers lo retun) Re.qerve.q lo rlieii- pi'e COVID-19 levels as %ooii ab possible. They liave .iel il118 a5 a n)edium term goal and niay adjLlSt theii. t2L i-get of £1 00,000 per aniium iii tllre years. The total reseives are L5,183.i751?0?3". £5.301,800) £1.116,087 attribiitable to unresti-icted fiinds {?023.. £1.393.932} £? 718,120 atti'ibiitable to restrict¢d funds {2023.. £2.665.309) and £1,349.168 attribiitable to endowed fLinds (20?3.. £1,242,558) Pagell
St Ldiniiiid's SLliool Caiitei'biir> Str42tegic Report or the yejr ended 31 Au&iiist 2024 Proi'ision of Services to the Charity Tlie Goveillors are mindFLII tliat professioi)al aiid other services provided to the School shoiild be stibjeLt to regLilai i'eview to ensLirL Il)at they are appropriLlte to the School's needb, delivered lo the highest possible standi¢ i-d and provide good valiie or nioiiey. Disabilit). and Equal Opportiinities Policy The Scliool'8 policji is to give full aiid filil. coiisideratioii to disal)led per.lons Iipplying for employment. liaviiig regard lo tlieii. particular aptitudLS abilities. Likewise, consideratioii ivill be gien to the coiitiiiuing employment and apprnpriclte tl'1¢ Illjl]t) of perqoiis who bccome disabled. The School's policy is lo provide eqiial opportuiiities lo all staff 011 the basis of objeCti"C criteria and persoiial tnei'it. Tlie Goven)ors have appi'oved a School Accessibility Plaii foi. the disabled. SiteDei'elopments and Future Plan5 Tlie Scliool is plaiiiiing to conliiiiie operdlingJ in line Kvith ils curreiit objects, Ivhich are rLviewed and assessed annLittlly by tlie Board of Govemors. Tlie Scliool aiins lo ftirthei- iiicrease its provisioii of free { I OOO/o biiisary} places as fiiiidiiiglendoiviii¢iits allow, as well as ils wider piiblic benefit activities, Tlie Governors havc reviewed tli¢ Estate Developmei)I Plai) &?1 Ilicir reeeiil Strategy Day aiid plaii to improve tlie academic, pastoral, boarding ajid sportiiig provisioii for pupils over Ilie next decade. This will iiicliide iiivesting iii siistaiiiable and renewable lechiiologies. Phase l of this plaii vas a neiv te¢?ching block coiisisliiiu OF 8 classrooms wliich wt¢S completed iii Splliig 2018. The 2. Phase of new leaching clasirooms for thc Senior School were completed iii September 20?4 jii time tor the neiv academic yeai.. These not only provide inodein stale-oE-Ihe-att teaLhiiig classrooms 2nd a new School Reception, but have also fi-eed lip considerable SP<lLe el%eivhci'e across the School to erthance private stiidy, Ivelfare and co-ciirrictilar facilities. The School has secured plai1n petinission to iniprove tlie spoi.ling facilities willi Ilie peniianent covering of the oiiidoor siviniming pool and expc211SiOli of ilie Sports Hi<11. Tl)e refiirbislinient prograinine across Il)e Juiiior scliool lias coiitiiiued diiring tlie year. The Sclio)ol li<iS also received pl£2niiintr pei-ii)ission tor tlie constnictioii of a spoits, pavilion xiid tlie re-siting of tlie Canterbiiry Squasli Club onto Ilie Jackman Field. We liave adc1pred lo the ch?¥ Ileiiges faced througli tlie reeeiit chaiiae ili goveriinieiil and taxatlQi1 legislatioii the most sionitieclnt beiiig VA T Iiittoduced to iiidependeiit school fees from l.qt Jaiiiiary ?0?5. Tile school has shown support to parents in shariiiq the biirden of V A T imposed and impleineiiting Lost sailing measLireg to mitioale this impaL Fundr2isin(y Policy Tlie scliool is registered witli die Fundraising Regulaloi. con]mittiiig to follomi Ilie Code of Fundraisintr Practice and tlie FLindrLiisin¥ Pi'oiiiise. The school's £lPPI'oacli to fiindraising is iiitei'iially Inanaged and ensures tliat recognised slaiidards are iiplield and tlie scl)ool did iiol iiiidcitake aiiy dii'ecl fiindi'aisiiig dliriiig IliL year (20?3- Nil). The school does iiot use any fund raisii?g ageiicies. Aiiy eomplaii)ts received, none diiriiig the year {?0?3- Nil) are deali witli proiiiptly. Page l?
St Edmund's SLhool Cantei'bury Strat¢EiL Report For the Trear ended 31 August 2024 Risk. lnigement The Governois aLknoivled&ie IlieiF E'esponsibility to Lonsider tlie I'isks laced by Iht SLhool and to en.%iire that adeqLiate Lonliols al-e in pliL Le lo idelltily. &issebs diid mitigate ugainst s11¢1i 1'1sk5. -fhi'ougli tlie i'isk m£llliib3ement processes establislied by Il)e Sclioul, Ilie Govei-iiors are saiislied tliat ilie iiiajor risks l)k2ve beeli idenlilied aiid Iiiiligi£ led wliere necessary, g1)d tliiil Ilie .8yste1115 1¢ lid pioceduTes l)Tr( lie been pill in plclce to pmvide reasoiiable assiinnce tliat Iiiajor risks liavc been adeqiiately Ill<inaged. Thc Goveimors aiid Executive Gi'oup liave ideiilified tlie followiiig key areas of risk aiid1i2ve taken appropriate aclioii, as far ab POS8iblr £iiid pi'actical, to piorecl the orgaiiisatioii fi-oni an). poleiilial adverse exposures that COLild arise. Sicps have thei'efore been talceii to ensiii'e Ilial we liiive tlie capacity to.. Kei, Are11 We liave cidapled lo the elilllleiiges faccd rhroligh tlie reLei)I cliaiige iii governinenl nd taxalioii legis11& lioii tl)e most sigiiitlC£lllt beiiig VA T ii)Ii'oduced to iiidepeiideiit school fees froni I sl JailLiary 2025. Action tllkeR Tlie school lias sliown support lo parents in sharing Ilic biirdcn of V A T iiiiposed aiid iirplenienliiig cost saving Ineasures to mitigate Iliis inipact. Various fiittire scenarios developed aiid possible miligalions modelled lo ensiire tlie Scliool is best placed lo deal with any adverse impact. Meei Ilie deiiiand for piipil places. Tlie CurricLiliioi Plau is reviewed anniially diiring the bildet11]g p1ceSS aiid is Lised tl) eiisiii'e sl<gffing and resoiirecs E1re adeqii£1te for tlie expeLted piipil ni1[nbe. Application n)ade to DfE for iiicreased pupil iiiimbei's. Ilcci-liit aiid retain 8Lifficienl levels of skillLLI sldry: Robiist i'e¢rLiitmeiit processeq maiia(red by the HR Mana(Fei' aii(l investmeiit in CPD. Excellent beneFIts package introdiiced for all staff. Pi'ovide aiid niainlain adeqiiate pl)ySlLal resoiirces and Rolliiig maintenance and Eslales Developinent plans. Arcliitecl appoiiiled to develop 10 year Estates Deiielo nient Pli< n. Tai"geted Goveimor i'cciuitment and ti'ainiiig. Pi'oipide adeqiiJle leTr'els of goireniaiice and operalioii£il LOI)U"oI,. Pi'ei'ei)t eveiits tliat COLLld daniage the School"s repiitation. Reglilai ttaiiiing of staff, stroiig PLipiI educatioii aiid PR .strate UK GDPR compliant with no breaclies neediniT i'eportino to thr Inforn]ation Cominissioners Office. Constant inveslmeiil iii IT i-esoLIILes as well as regular external lestiiig of sysleins including phishing emails and Provide ddeqLiale IT systeni.8 and ensliie tlie protection and seLUrity of LonfidentlÉil inforn)ation: ransoniwai'e siinulations. Pi'ovide adeqiiale conti'ols to eiisure tlie safetruai-diiig aiid Ivelfare of piipil8. Well traiiied designated staff and i-obusl systems iii place. SategLiardiRg aiid pupil welfare rated EAcellenl iii recent ISI iiispectioii. Tlie Str<?tcgic re orlw s approved by Ilie board on signed on tlieir behalf by.. Air Marslial C M Nickols CB, CBE. DL, MA. FRAeS, Chaii. Pa(Fe 13
St E(linun(I's School C'anterbury Dii'eLtors' rL'sponsibilities in tlie preparation of financial statements '<Trr tlie )'eAI' ended 31 August 2024 Statement of DirCtOrS, Responsibilities Tl)e tnisteei {wlio IL i-e iil%o direLlors OF Si EdmLind's SLliool Ciinlei'l)Iiry for the purpoqeq of coiiipany law) ill'e I'ebponsible for prepai'ing tlie TrLlStees' Report l iiicorporailiigy Ilie strategic repoi'l and dii'eclors, reporl) ai)d Ilie flliancial statemeiils iii accoi'di£ lice kviili ?( ppIIci< ble l¢iW aiid Uiiited Kiiigdoiii Accoiiiiling Standards, incllidiiig Fiii£lllCl<Trl Reporting SIiL ndard l O?: Tlie fiiiic IICl<Trl Repoi-lin¥ Standard ai)pli¢oble iii ihe UK2 (nd Repiiblic of. li'cland Iuiiited Kiiigdom Generally Aecepled Accouiitiiig Pi'actice). Conipaiiy laiv I'equires the trlislees to preptsre fiiiaiiciic I staten)eiits for eacli fiiiaiicial yeai. wliicl3 giN'c a true and fiiir view of tlie qlate of aftaii's ot tliL cliai'ilable conipaiiy aiid Ilie grDIip diid of the incoine and expenditure, of tlie charitable group for Ilidt period. In preparing these tinancial statemenis. the ti-ustees al'e required to.. select suilable acLoiiiiliiig policies and tlieii apply them LOllSiStenily; obserwe Ilie metliods aiid principles in Ilie Cliarities SORP; niake jiidgnieiits and <lCCOUllting esliinales that are reasoiiable and pruddit- slate wheiliei. applicable UK Accounting Siaiidards Iiave been followed, slibjecl to any material depal-eS disclosed ai)d explained iii the financial slatenienls, and prei)ure Ilie financial stateineiits on the going concern basis unless il is inapproprigL le lo piesunie Ilial Il)e cliarilaLile Lompliiy will coiiliniie in bLlSlI)ess. Tlie triistees al'e i'espoiisible foi niii inlaiiiing piopcr ¢lccounlillg reeoi-ds wliich disclose ivitli reasonable acciir<1Cy al any time the tiiiaiicial po%'ilioii ot the chiiiilable compaiiy ai)d eiiable Ilieiii lo ciisiire tlial tlie fiiiaiicial statenieiils Loiiiply witli Ihe Coiiipaiiie5 Act ?006. Thev ale also I'esponsible for %afetsii<ll'ding the dssels of thc cliarit<lblc compaiiy ¢1nd Ihc groiip aiid lieiicc tor Illkints reasonable steps tor the pi'eveniioii 1¢ nd detectioii of traiid aiid other liTeilaritIes. Iii so tai. as tlie trL15tees are aware.. tliere ig no relevant aiidil infomialion ol wliicli Ilie eharilable coiiipany's auditoiE al'e unaware; and tlie trustee5 have takeii iÉ11 $p9 Iliat they ouglit to li&ve t8keii to make themselves aware of any relevaiit aiidil iiiformatioi) aiid to estclblisli that tlie aiiditoi's al'e aware of that infomiatioii. The trustees al'e respoiisible lor the inainlen&ice aiid integrity ol the corporate and financial infomalioii included on the Lliaritable Loiiipany's website. Legislaliun iii the United Kingdoin goveining tlie preparatioii and dissemination of finaiiLial sl<ements differ trom legi.8liltion in othei. jiirisdiLtions. Page 14
St Edn)iind's SLhool C&lllterbury Independent au<litoi s report to the members of St. Ci dmund's School Cantei-bury roi. the }ear ended 31 Augiist 2024 Opiiiion Nlle hTrL ve audited the finaiicial %knlement.q of St. EdiiiLind's School Caiitei'biiiy {the 'parent cliai'itable coinpany, } and ils SLibsidiai'y (Ihc '[1)lip, I f()I' tlie yeilr ended 31 Aiigust 2024 which LOTnpri.8e the Coii.%olidated Statemeiit of Financial ALtiN'ities linclLiding the Incoine ii nd ExpenditLlI'¢ Accoiint), the Groiip aiid Scl)ool Balaiice Sheet5, tlie GroLlP and School Casli Flow Si[en]elits Iiiid iiotes to Ilie finaiicial slalenienls, iiicluding sigiiificaiil accoliiiling policies. Tlie financial rcpoi'ting Ftaiiiew'ork tliL?t1115 beeii applied in Ilieir pi-eparatloll IS £ipplicablL laiv and United Kingdoin Aecoiiiiliiig Standai'ds, ii)cliiding FRS I O? "'Tl)e Fiiiaiicial RLpuilin¥ SiaiidiÉ rd applicable iii the UK aiid Repiiblic of Ii'eliind" l Ui)ited Kiiigdoni Geiierally Accepted Aecouiiting Practice). In oiir opinion the financial statemelits: give a Iiiie diid fair view of Ilie state uf Ilie ui-oiip's 2nd tlie parent chaiit£ible coinpany's affairs as at 31 AUul1 2024 an(1 of the gi-oiip's inLomin(T resoiirces and (ipplicalioii of i'eqoLlI-ces. includiiig ils income and expeiiditLlI'e. for the year then ended.. h21 ve been propeFly pi'epared in accordance with United Kingdom Generally Accepted Accoiinting Pi'aLlice- and l]aiie been prep£ll'ed in aLLoidanLe iviih die requirenienls of the Coinpaiiies Act 2006. Basis for opinion Wc coiiducted nur audit iii accordaiice willi Tntei'nalioiial Stcliidards oil Aiidiliiig (UK} {ISAs (UK)) and applicable law. Oiir respoiisibilities under tliose slai)dard5 are fiirthei. described iii the Auditor's respoiisibililies for the audit of the finaiicial slateimeiils section of oiii. iepoit. We are independeiil of the groiip and parent charitable coiiipaiiy iii accordiiii¢e willi the ethical iequireinenls that al'e re1c'all1 to oiii- aiidit ot.the tIllLincial stalemeiits in the UK, includiiig the FRC'S Ethical Stdndard and we have fiilfilled our other eil)ical responsibilities in aceordanLe with these requiremeiits. We believe that the iidit cvÉdence ive h1¢ ve obtained is sufficicnl and appioprimte to pi'ovide a basi5 For oiir opinion. Conclusions relating to (Joing concern In c211ditiiig tlic fiiiaii¢i.Il stttemeiits. we liave concluded Iliat tlie trustees. Iise of the going conceri) basis of accountin(T jli tlie pi'epai'l< lion of the fiiiancial statemciits is appropiiate. Based on tlie Miorl( we liai'e pei'foi-med, we hLive not idciitified aiiy mLltei'ial iincertainties relatiiio to eveiils or coiiditioiis Iliat. individLially 01 colleLlively. I11<2y cast siqiiificant dL)iibt on tlie &iioiip'8 oi. parent cliai'itdble comi)any's ability lo continiie as a goiiitr Loiicern toi. a period ot 81 least tt4yelve Inonths fi'om ivhen Ilie financial stateineiils al-e aLlthorised for issue. Olir I'cspoiisibililiei ¢g1)d tlie responsibilities of Ilie ti'uslees iviil) respect to goin concern are desci-ibed in ilie relevaiit sectioiis of Lliis repoi-l. Other informgtion Tlie oiliei. infoi'matioii conipi'ises the infornialioii iiiclLided iii the Directors and Governors, Report <ind the Strateuic Report oihei- Ihaii the finaiiciEI stateiiieiils aiid our aiidilor's report thcreoii. The trLislees are responsible loi. the other iiiformatioi) Lonlained ivithin the DireLlois' and Govemors Report. Oiii- opinion on the fiiianLial statements does iiot cover tlie other infoiThalioii and, except to the extent othei'ivise explicitly stated in Olir i'eport, we do iiot express aiiy foTm of assuraiiLe conLliision thereon. Oiir r¢sponsibility is to read Ilie otlier iiiforniatioii Ond. in doing so. coiisidei. wlicilier tlie otlicr inforniation is nintei"ittlly iiicoiisisleiil willi the finanLial slatenients or OLir knowledge obtaiiied iii tlie course of Ilie audit or ollierwise appears to b¢ niaterially Triisslated. If we ideiitity sucli material inciiii8i.qtencies or apparent niaterial MIStatenlel]ts, 'e are requircd to delenniiie whether thi8 gives rise lo a material rnisstalemeiil in the financial slatenienls theniselvcs. If, based on the work we have perfoiThed, we coiicliide that there is a niaterial misslalement of this other iiifomialioii, we al'e reqiiired lo i'eport tliat fact. We liave nothing lo report iii this regard. Page 15
Sl li dmund's School C24 nterbur), Indepen(lenl auditor's repot't to the members of St. £1 dmund's School Canterbuiy Foi- the )'ear ended 31 August 2024 Opinions on other mutters prescribed by the Companies Act 2006 Iii oui- ()pinion, b¢ised on tlie woi'k undeitaken iii the COLirse OF the audit.. tlie intormation given in Ilie Direclor.%' Ilnd Goveimors. Repoit 2£ nd tlie Str¢lteoic Report pi'epared for tlie Plirposes of cLiinpaiiy laiv. foi. Ilie l inaL)Clli l yeic i. for '1]Ich tl)e firi£2llCi£il sLaleLneiils are prepai'ed is coiisistenl will) Ilie fiii<incial slLileinenls' aiid tlie Directors, Aiid Governors. Report and the Sti-ategic Repoi-l have been prepared in accordance with applicable legal requii'enieiils. Matter5 on ivhich we are required to report by exceptio Iii IhL light of ihL kiiowlcdge and Lindei'staiiding ol'ilie groiip and Il)e pareiil charitable cotnpany and theii- envii'onmeiit obtained in the Loiii'se of Ilie audit, we have not ideiilified material niissialemenls in tlie Directoi's aiid Governors, Report ,Ind tlie Str¢ltegiL Report. We liave notiiiiig to report in respect of Ilie follow'ing matters wliere Ilie Companies Act 2006 reqlre us lo report to yoii if, in oiir opinioii.. adeqiiate IlCCOUlltiiig i-ecords liave not beeii kept,. or the parent cliaritable compaiiy financial slateinents are nnl in agiEemeiit willi the accoiiiiting i'ecords and returns; or Lertaui disclosul'es of triistee8' remiineralioii specitied by law al'e iiot Inade; or we liave not received all the intormalion and explan¢ltions we require for otir aiidit. Responsibilities of trustees As explttined Iiioi"e ftilly in tlie St42lcineiit of Tnistees" responsibilities sei out LTrll P4?gf 13. tlic trustees (who are also tlie dirLcloi's ol. the cliaritable compaiiy foi. Ilie Pliiyoses of coi)IPLiny laivl (Il'e respoiisible lor Ilie pi-eparatioii of tlie fiiiaiicial Sl¥ltemeiits aiid for bLiiig saiisfied Ih&t Iliev (Fle ci IIiiL 2< nd filil. vieiv, ai)d for siicli iiitci'nal cniilrol as tlie Iruslees delerinine is i)e¢essaiy io eiidble ilie preparcilioii ot finaiicial statemeiits Ihal ai'c fl'ee from mclterial Inisslalemeiit. whetliei. due to fi'alid i)i- errol-. In preparing tlie tinancial stateinents, the trustees are responsible for assessing the groLlP'S aiid parent charitable compaiiy's abilily lo Lonliniie as a going LonLeiii, disclosin¥, as Llpplicable. mallers itlaled to going conceni and iising the ¥oing coiiceni b&qSlS ol accounting iiiiless tlie liustees eiilier inlend to Iiqu2dale Ilie group oi. pai'eiil cliarilable coiiipany or lo cease operalioiis, oi" Iiave no realislie altcrnalivc bill io do so. Auditoi-'s respoiisibilities for the audit of tlie finaiici81 statements Oiii objcctivcs arL to obtain reasonable assiii'ai)ce dboiil Nvheiher the fiii<incial 8talemenl8 as a whole al-e free fi'om material TnisslatLmenl, Ivhether dLie lo fi'aiid or eiTor, and lo issiie an aiidilor's repoit that incliides oiir opiiiioii. Reasoiiable &%.8iiraiice 18 a higli levcl of assul'allce. biit is not a gLiaiantee that aF] k)Lidit condiicted in aLLurddnLe ivith ISAS IUK) will always detect a material tllisslatement ivhen il exists. Misstatements can arise from fraiid oi- eri-or aiid al-e considei-ed Inalerial if. indiiiidiially or Ilie 1£ ggregale. Iliey could reasoiiably be e,xpeLled lo inflLience the economic decisions of iisei's taken on Ilie basis ofthese financial slaleineiils. Details of Ilie extent to ivliicl) Ilie audit ivas coiisidei-ed capable of detecliiig irregularilies, incliidiiig fraud <iiid non- Cotnplianee witli laws aiid regulatioiis are sei OLlt beloiv. A further description of our irsponsibililies for the audil of the fiiicillciÉil 5t£lteillents is located on tlie Fiiianci%il Reportiiig Couiicil'8 website al.. Ivww.Frc.org.uklauditorsresponsibilitie5. This descriptioii fornis part of oiir auditor'8 repoit. Paue 16
8t Ediniind's School Caiiterbury Indepen(lent lluditoi s repoi't to the members of St. Edmund's School Canterbury Fur the )'ear ended 31 AuEUSt 2024 Auditor's responsibilities I'or the Aiidit of the financial 5t8tements (continiTed) Exleiit to ivhicli the audit ivas considered capable of detccting iri-vgu1471-ities, including fi-aud IITegLIILirilies. iiiclLidinu fi'aud, air instaiiLes ol. non-Loinplilc llLe willi lauis aiid I'Lgulations. We identified and as4es%ed the risks of inaterial niisslaleiiienl ot Il)e linLiiicial slaleiiiLnls Iroin iriegiilcirilies, ,hell]er dLie lo fi'1L ud or error, and discii.gsed Iliese bcliveLI) our audit leain Iiiembei-s. We tlieii desigiied ic nd perfoi-nied Lidil procedures responsive lo those I'isks, incliidiiig obiaiiiittg aiidil evideiice sufficieiit aiid appi'opriale lo provide 11 basis for oiii. opiiiioii. We obiaii)ed ali uiiderstaiidiiig ofihe legal and reoiilatoiy fi'anieworks ivithiii whicli the Charitable coinpany Iiiid groiip opci"alcs. focusiiio on those laws and regiilatioiis tliai li<fiVL' d dii'ect effect oil the detemiiiialioi) of iiialerial amoiinls ?¢ nd di5closiii-es iii the financial qtateineiits. Tlie law's aiid I'eglilatiuns ive coiisidei'ed in tlii5 context ivere the Companies Act ?006. laxalion le¥islaliuii. togeilier willi the Cliarilies sor(P (FRS 102). We assessed Ihe reqiiii'ed coiiiplianLe with these laws and regulijtioiis as Pcirt of oiir alidit procediii'es on the related financial statement Ite$. Iii Éiddilioii, Ive considered pi'ovisioiis of oiliei- laws and regilations that do i?ol have a direct effect oli tlie financial slateincnts biit ¢oii]pIilnQc witl) which Tnight be fiindameiital to tlie cliarilablc conip£iny's [and Ilie groiip's] ability lo operate or to £2void a maierial pcn21ty. We al.qo coiisidered tlie oppoitunitie.s and inceiitives that niay exist iviiliin the c17ai'itable conipany and Ihc tsi'oup for fraud. The Iciws and retrulation.% we considered in tliis context for the UK operations Ivere Tlie Ediicalioii (Indepeiideiit Scliool Siaiidards) Rcgiilalioiis 2014 171)d the UK Gciiei'al Data Pioleclion Regulati011 (UK GDPRI. Aiiditing slandards liinit the reqiiiiEd iiudir procediires to identify non-complianLe iviili the4e laii's lind regiilations lo enqiiiry of Ilie "fTllSlees and otlier iiianageiiienl aiid inspeLlion of regulalory and legal correspondence, if any. We idLnlified tlie reatest risk of Inalerial impact oil Ihe finaiici¢il slatemciils Froni irregLilarilies, iiicliiding fr<iud, lo be wiEliin tlie oven'ide of coiilrols by 1111L iiageiiient_ Oiii. l< iidit procediiFeS lo respond to ilieq¢ risks incliided enqiiiri¢s ot nidiiagTenieiii Jiid Ilie Fiii<iiice & General Pliiposes Conimiltee about Ilieii. own idenlificlllioii and assessilleiil of Ilie I'isks of ii'i-eoiil£l1-ities, saiiiple tesl2n¥ oli Ilie postiiio of joiirii£i15, reviewiiig 4iccoiiiIEiiig estiniate.% for bi<ise4, reviewiiig [ClIatOry COITcspoiidence H'iEh Il)e Cli¢iril! C'.oimmissioJi, Iiidci)endeiit Schoo15 IIisi3ectorate. Ofsted aiid reading mii)utes of IMeetiIi&Js of Iliose chai'gLd ividi goiJei'iianLe. Oiving7 to the iiihei-enl limita110115 af an audit. Iliere is an unavuidable risk that we may iiot have detected soille material Inisslalemenis in Ilit tinancial stalemenls, even tIioLigh we liiive pi'operly plk)niied and pertornied oiir audil in accordance viili aiidiiing siaiidaE'ds. For exaini)le. tlie furtliei- removed iion-coiiipliaiicc wilh laivs Lind rcgulat10135 liri-cgularilies) is li-oin tlie eveiils aiid transactions retlecled in the financi<il slaleineiils, tlie less likely Ilie inlierenily limited pi'ocediires reqiiired by auditing standard5 would ideiili fy it. In additioii. as ¥viili any aiidit. thei'e i'cmaiiied a liigher I'isk ot lion- detection of ii'regularilies, a5 tliese mlL V ii)volve colliisioii, for¥ery. iiiteiitional omissions, niisi'epresentatioiis, or the oveiTidc of inlei'iial controls. We are iiol respoiihible for pi-eveiitiiig noii-conipliance and caiinot be expected to detecl noii- compliance with all laivs aiid irgulatioiis. Use of our report This report is made solely lo the charilablt coinpany's iiieinbers. as a body, in accordance WiElI Cliapler 3 of Parl 16 ot" Ilie Coinpaiiies Ael 2006. Our audit work lias been iindertaken so Iliat we niiglil state to Ll)e chariliible coiiipany's nieinbers tliosc InÉitteis we are reqLllI'ed lo sl2( le to Iheni in an iL iiditoi s report <ind foi. no otliei. piiipose. To the fullest extent pennilted by lil Iv, we do iiot accept or assume i-¢spoiisibilitv to Éinyone otlier Iliaii tlie cliarilable company and Ilie cliarilable conipaiiy's members as a body, foi. our audit ivork, for thi.s i'eport, or for the opinions ive liave foi'med. ArfHEW HOWARD (Senior StalLilory ALiditor) For and on belialf of CROWE UK LLP, Statiilory Aiiditor Medway Bridge Hoiise I-S Faimieadow M¢iid.qtoiie Keiit ME14 IJP Date Page 17
St Ldniiind's Scliool nterburj.
Consolidate(l st.gtement of fin
St Ei (Iniiiiid's School C"anterbiiry B'iljnce Sheets .45 at 31 Aiigiist 2024 Companv no. 0.1201223 Group 2024 School 2024 2023 202.3 Fixed asset5 Tan¥ible fi.Y£d Llsset.5 14 9.169,009 5.910.?9n 9.169,009 5,910.?91 Ii)vcStia7lS Iiivesti1it iii siibsidiary 15 16 ,170.338 1,081,946 1.170 J38 5.000 1,081,946 5,OOG 10,339J47 6,992.?36 10,344,347 6.997.236 Current a5set5 Debtor. Cas11 and dLposils C1& iiwaigii depos Ils 17 1,256,54 1 2,377p95 38,968 1,255 J38 1,440,064 1.389,96A ,320,197 2,269.98A 38.968 l ? j3.067 1,436,42? 1,389,964 3.673,104 4,085,366 3,629,148 4,079.453 Creditors: AnlintS fallu?g diie ivitl)iJi one ycar 18 (5,619,654) (3.9?5,8601 (S.609.8981 (3.954,1471 et current Jssets k (liabilities} 11.946.549} l i9,507 (I lJ%Q,7*01 175,306 Total gsstts less currcnt liabilities 8J92.798 7.151,743 8,363,597 7,122,543 Creditors: AAUl1t8 falliiitt dLie aflei. J)re thin one year 19 13 ?09,423) (1,849.943) {3,209.4?3) (1.849,943) Net d?S5ets 5 183J7% 5.301,800 5,154,174 j27?.599 Reser& Uiirestricted fiEnd5 ?? 1,116,087 2,718,120 1.349.168 1.393,93? ? 6(15,309 1.242.i58 1.086.889 2,718,120 1,349.165 1.364,73? ?,665,31 .242,558 Rcstricted fiiiids 2? Fndowed ftinds 5,183.375 5.301.800 4,1 S4,174 5,?7?,599 A separale StatenEiit o fFinaiicial Aclivities, or Incon aiid ewenditure aLCOLlllt. for tlie charit}, itself is iiot pregenied because Ilie clicirity lia5 takeii advaiitag¢ of tlie excnTrtions afforded by section408 of the Cotw211ies ?OOb. Net (Thiigoing) l inconiiiig resouires of tl)e charily for Ihe year ivere (£118.425'1 120?J.. £10,508). The fllianei on. 'taienEnls on pages 18 to 40 were approved and authorised for 8[le by the board of governo and ivere signcd on its behalfby.. Mi iif5h<il C M Nickols CB, CB£ DL, N4A, FIL4eS Page 19
Sl Ei dmiin(I's SLliool CaDtei'biiry Ct)nsiilidAteil statement of cash floiys For tlie .year ended 31 August 2024 Note 2024 2023 Cash infloiv from operating activities: Net cash providLd by opeialiiig iL ¢livilies Ii)iiesliirnt inLon Intei'e.81 reLeived ?6 1.896,445 37,6?4 36,446 1,970,S15 870,574 31.751 44.459 946,784 Cash inflow froRn inTrEs ting actiigties: Piircliase ok'tungible li.Ked assets Net cash fj'om in%t5ting Activities {3.725,9731 (3,725,973) 11.079.866) {1,079.866) Cash floM5 from financin(F actiiities: Repayni¢nl olbonDiiiings Net inLrease l {deLredse} in boJTowings Net cash from finAncing 2ctiNYties (158.IM)6) 1,500,OIX) lJ41,994 (155,9)71 {155,907) Net {decrease) l increase in cash and cash equiwlents (413,465) {288,988) Casli aiid cas h eqiiivaleiits broiight tonvai'd 2.830,n?R 3,119,016 Cas h and cash ewivJlents cai'ried forivard 2.416.563 2,830,028 Relating to: Lasli aiid deposits Campaigii deposits 2,J77.595 38,968 1,440.064 1,389,964 Cash held with investmeiit mgnauer 2,416.563 2,830,028 Anal>sis of ch4ngTos in net (kbt At 15tSeptemtrkr 10?3 Casb Iltsms Cush flo1 315t August 2(124 Cdsli Loans fallik)gT diic ii'itliin orie yeDr Loa115 falliiig duL attLrrnrL' Ilitin one year 7,830,028 1223.n941 .849.9431 756,991 1413.4(181 ??i.094 11,565,089) 11.755.4*9 ),416.463 1351,5731 3.063.459 {9Y8,4681 {351.5731 351.573
St E(Imund's SLliuol Canterbury Notes to the financial statemeiits For tlie yeyi- ended 31 Augiist 2024 I Priiicipal accountin¥ policies Legal 5t4ltus Tlie cliÉirily is private coinpany liiniled by £uaranlee, iiicoipor8led iii England <iiid Wales wiih its registered o*Tice &?ddress beiiig, St Edniiind's School Cilllterbiiiy, Si Tlioiiias Hill, C<?Iilerbury, Kent, CT? 8HU. hi die eveiil of the charity being WOLind ui), Ilie liability in respect of Ilie g112( rantee is limited to £ I per votiiig niember of tlie cl)arity. The chaiity's objeLlives and ain)s are disclosed in the Directors. aiid Goveriiors. aiid Strategic Report. Accounting Convention These finai)cial Statements have been prepaied iii accordanLe with FRS 10? "The FinanLial Reporliiig Standard applicable in the U'K an(1 RepubliL of Ireland" Ilie reqLiircmcnts of the C'omp1¢ nies Act ?006 and under tlie histoi-iLal cost convention, modified to ineliide certain Fiiiaiicial insmiineiits ai fair value. Tlie Financial slateineiits liave also beeii prepared iii c c¢ordance ii'itli Ilie 1¢ ccoiinliiig policies set oiit in Inore delail below. lo coinply witli Ilie cliarity's governing dociimenl and Tlie Cl)arities Act 201 l and Accoiintiiig and Reporliiig by Cli<irilies.' Sialenienl of Recomineiided Practice applicable lo charitie5 pi'ep1< riiig their acLoiiiits iii accoi-dance iviili The Fiiiancial Reporliiio Standcll'd applicable in tlie UIC ¢ind Repiiblic of Ireland (the FRS 102 Charities SORP 20191. The linancial slatetnents ore presented in slerliiig. which is the fLinction1< I currency of the cliaritable compaiiy. Monelaiy aiiioiints ii) these finanLial statenienls are roiiiided to the neai'esl £ l. Tlie cliarity constitutes a piiblic benefit entity as defined by FRS102, Gofftng concern Tlie Governoi"È Iiliie prepared fiiianci&l1 iiifoi'matioii. covei"ii)g a pei'iod of at leaqt l ? n)oiiilis from die datL of approval of these accouiilq, and 011 the basis of tlial infuniiatioii, tlie support of Ilie baiik aiid other stakeholders., the Govenioi's nlicip¢11L that IhL Charity iN'ill coiilinLie lo liaiie siifficient Itsoiii'ces to tneet its fiii<iiicial liabilities as they fall clLie. The linaiicial information. wliich is iipdated on a Tetsiilai. basis, includes detailed biidgels and cashflow torecasts. Key L25SLimptions Lised in the forecasting Inodel inLliide piipil niimber predictions infonned by curreiit prospeLtive pupils t0ether witli pupil reLniitinenl Irends previoiisly acliieved using several yeai's, worili of data. We have (idapted lo tlie ehalleiiqes faced Iliroiigh the receiit change in govemiiieiit and laialioii leojsli1tioi) Ilie most signiticaiit being V AT introduced to ii)depeiid£nt 5cliool fees fiom I st January ?025. Tlie scliool lias sliown suppoit to parciits iii sharing the burdeii of VAT imposed aiid iniplemeiitiiig cost gaiijiig measures to miligale this impaci. Despite tlie iiicreLlse iii the cost of living <iffectii)g oi'ganisalions Lind iiidividlials alike, tlie School remains in a strong financial position. The School lias benetitted ti'oin a long-term ti.xed enei-u ¥y pi'ice deal {4 yeLl1'S to iintil ALigust ?0241 Ivliicli has pi'otected il from Ilie hLige increases iii those costs and a neiv conlr<lCt has Iioiv been enlercd iiilo covering to ALigLlSt 2027. Othei. expenditure has been nian<1ged effeLtively to ensure tlie Scliool's fiiiances remain robust. Tlie batth is tlie niaiii stakeliolder iii tenns of Finaiicial support. other key stakeliolders ale pi'iinarily grant niiking orgaiiisatioiis tliat siipport soine piipilg, fees, the largest of wliicli is tlie Deali and Cliapter of Canterbuiy CatliedrAI tliat provide financial support for 25 Canterbury Clioi'isters ediicaled 81 St Edmuiid's School. The School also has the siipport of its banker8 aiid Govemors are coiifident thai the PLipiI numbers will contiiiiie lo improve iii the coinin(r yeais as they have doiie so for tlie year ended J l AiigLlSt 2024 and are therefore contciit that the Scliool conlinLies to be a goiiig concern. The Michaelmas ?074 PLipiI numbers support this with 653 being the clrent popiilalion compared to 645 for Micliaeliiicls ?0?3. The accounts have theretoi'e beeii prepai'ed on the going conLern basis. Consolidthted fin#nci4I15tlltenieDts Tlie cliL1rity lic25 consolidated tlie resiilts of ils trading subsidiary. STEDS Limited. (company number 0361186?) in accordai)ce iviili Ilie 2015 Statemei)t OF Recommeiided Practice.. A¢coiintii)g and Repoitiiig by Cliarilies aiid the Conipaiiies Act 2006. Restricted funds The restricted ftinds rel£lte to donatioiis received for specific PLirposes as set out in note 24. Endoivfflent fund5 Eiidoivinent flinds relate to ainolinls given lo Ilie Scliool foi. specific purpose5 as sel out in note 24. Page?1
Sl Ediniind's School Lanterbiiry Note5 to the financial statements For the )'eai' ended 31 Augiist 2024 Donations and legacies Doi)cl1iuns a21d legacies are recogiiised uiider iiicomL in the Statemeiil of Financial Activities wheii the receipt of tliem is probable, Laii be iiie£2SLired reliably an(1 entiilemenl li"aiisfeiTed lo tlie SLhool. Fees All ii)conie is recognised when tlie chai'ity ljas eiititleftieiil to tlie fuiids, the i'eceipl is probable aiid tlie amouiil ellii be measurcd reliably. Fees consist of cliai'gcs for the School year eliding Aiigu.st, less biirsaFiLS, scliolai'ships aiid oihei- discouiits or allowaiices. Ancillary and non-ancilltsry trnding income Ancillary ti7ding ii)c(Iiiie represeiits aiDouiils troiii activities to oeiierale fiinds within the charitable objectives, for exainple registratioii fees aiid Iiiusic fees. Non-aiicillary tradiiig inconic rcpresents aniounls froni activitics Iiot directly related to Ilie cliarilable activities, for ex2mple lettings ot. school facilities out of term lime and rental from spare scliool buildiiigs. Iiicoine froni these activities is recogiiised in the SOFA wheii the ooods are sold or services provided. Expendliure E.xpeiiditiiE'e is alloLllted to eApeiise Iieadings either on a direct cost basis, or apportioned according lo lime spent. The irrecoverable elenient of I'A T is inellided with the item of expense to which il i-elates. Teaching costs Siipplies of g£inies equipment. books. statioi)eiy* ¢ind siindry tnatci'ials al-e wrillen off to the Scliool general fund wheii tlie expeiiditure is iiicurred. Governance Costs Goveinance costs coimprise Ihe costs of complying ivith conblilutional and stattitory requireinenls and any otliei- costs of runniiig the Lharity as a legal enlily. Pension schemes Retii'eiiieiit bencfils to cmployees of tlie cliariry are provided by tlie Teachets, Pension Scheme I'l'PS'} wliieli is a Iiiiilii- enipluycr dcfined benefit schcine. The TPS is an iiiiftinded schen)e and conli'iblilions aiE calculated so as lo spread the cost of pengions over eiT)ployees' workiiiLTr liveq with tliL charity in SLich a way Iliat the peiisioii cost is a substantially level pei'eeiitage of cun'ent and fiittire peiisioiiilble payroll. Thc contributions iTrl'e delemiined by Ilie Government Acluaiy un the basis ot quadreiiiiial valiiLilions IISlllQ Él piojecled uiiil meiliod. The TPS is a miilii-employei. scheme bill Iliei'e is in5Utlicienl ILltom]ation avail¢2ble to use defined benefit uccoiinting. The TPS is thei'efore trealcd as a defined conlribiilion sclieine toi. accoLinling pilOSe$ and the cuiili.ibiilions ale reLognised ui Ilie pei'iod lo wliicli Ihey relate. Diffei'eiices beliveen conli'ibutions payable in the year and coiili'iblltions acttially paid are sliown as eithei. otlier creditors or debtoi's. The conipaiiy operates a group Persoi)al Peiision Plan {defiiied conlribulion) for all oilier employees. The asseL£ of the plan are held sepill'alely from tliose of the coinpaiiy. For eniployees ivlio joined tlie sclieme prior lo ? I, March ?014 the eiiiployee n)¢1kes 1¢ mii)iniuiM 3 /D Colltribiition aiid the compllny makes a niinirniim coiitribLilion of i %. For employees who joine(I the scheme at-ler lo ? I, March ?014 the employee tnakes a minimiini 40/0 contribution and the cornpany inake8 a minimiim contribution of 40/0. The annual contribLltioiis payable are Lharged to the income and expenditure accoiint. Tlie SLliuol is Tneetiiig its obligatioii lo tlje auto-eTmlinent of pensioiis for staff. Tlie siipport staff contribiile to a Detined ConlTibLilioii Policy witli Roy<il Londoii. Unrethlised gainsllosses Uiirealised gai11511osses coniprise the diffeieiice between the market value of investments at tlie beginning of the year aiid the market .luc of iiivesiments al the end of the year. Pagc 22
St Ldniund's School C¢interbury Notes to the financ¥il statem£nts For tlie year ended 31 August 2024 Tangible fixed a55et5 Tanttible fixed assets are initially measured at cost. aiid 8iib.8eqiicntly nieilsiired al cost, net of deprecialioii aiid any in)pairnient 105ses. Assets below the valLlC of £5UO arg nol re¥arded ivorthy of Lapitiilisation and air 'rItte1] off to the Siateinenl ot Financi¢11 Activities in the yeai. ot PLifLhase. DeprecialiDn i.s providLd oil all l<iiigible Fixed <issets iii iise, otlier Ilian freehold12c lid at r£iles calculated to wrile-off tlie cost less estiniclted residlial Viilue of eacli asset ovei. its expLCted usefiil life oli a straiglil-liiie bii sis as follows.. Biiildiiigs BLiildin¥ Improvements riirnittire and eqiiipmeiit Moloi. vehiLles Assets tiiidei" LonsiruLlion Behveeii 10 and 50 years Behveeii 3 &sid 9 years Beliveeii 4 and 7 year.4 Betsveen 3 and 4 year.4 Not depreciated until brought into Lise Ini'estments Listed investnieiits arc staled I iiiaikel valiie by reference lo Ilieii. bid valiie &?t tlie bal4liice slieet dale. The Statement of Fiiiaiici81 Activilics ii)cliides the iiet gains ai)d losses ai'isiiig 011 revi11iialions aiid disposals througliout tlie year. Corpf)r#tinn T3xes Act 2010 and TAx8tion ofchargeable G31A5 Act 1992 Thc Scliool is a regislcred cliarity and as 511ch its inconie aiid gains Idlling within Section5 471 to 489 of the Corporation Tax ALt ?010 or SeLtioii 256 of the Taxation ol Chargeable Gains Act 199? are exetnpt fi'om Corporation Tax to the exleiit that they are applied lo its ch<l1-Itable objectives. Opcrating leases RcJita15 cipplicable to operatiiig leases wliere siibstantially Jll of Ilie benefifs £l1)d risks of oiviiersliip reiiiaii) with the lessor ,Ii"e cliaigcd a¥aiiisl pi"ofits oli a sli'aiglit-liiie ba.gis over the period of the lease. rinancial instruments Thc cliarilable conipaiiy applies Ilie piovisioii.% of Sectioii I I 'Basic Finaiicial Inbtriinienls. of FRS 102 to all of its fiiiancial insliiinieiit5. Financial inslruinents are recogiiised Nvhen t11e cl)aritable company becoines party lo tlie conlractual provision5 of the BASIC finAn¢ial a5set5 Basic fiiiaiiiial a.%sets. Ivhich iiicliide trade and other debtors. are initially measLlI-ed at Iraiisactioii price iiicluding Ii'aiisactioii costs aiid al'c siibscqiienily carried al amortised cost Llsiiio ilie eftective iiiterest meihod. Bil sic financi7# I liabilitie5 Basic financial liabilities. incliiding trade and oihLr creditors, overdr2tt facilities and bank loaiis are iiiilidlly recognised at IrdnsiiLlion price. FinilllLial liabilities classified as pay'<ible witliin one year ale not amortised. Financicil liabilities are gubseqiieiitly carried Ekt aiiiortised cost, usiiig 11)e effcctive interest rate Imetliod. Trade creditor% are oblig<llioi)s lo pay for goods or serviLes that liave been acquired in the ordiiiary course of business from tsiipplieF5. Amuiiiils payable are clas8iFied as CiiiTenl liabilities if puyment is dLie within one ycar or less. If not, tliey are preseiited a% iioii-ciin'eiit liabilities. Trade creditors ale recogii.%ed initially at transaction price and Sllbseqiiei)tly measiired al amoi-lised cost iisiiiu the effeLt}e interest niethod. ClassificAtioD of finthncial lillbilities Finaiicicil licibililies and eqiiity ÈiislLiiIMentS Éire classified according to Ilie subsi<ince of the coiitractLl2c l arrangemeiits enlered inio. An eqiiity instriinieiit 15 (Trlly Colltract Ilial ei'idences I'esidual interest iii Ilio assets ot tlie compaiiy Ic fier dedii¢tii)g all of ils liabilities. Derecognition of finaneial instrunients Financial assets (ind liabilitics are dcrccogiiised M,lien, and only when, the conts'acttial obligations are discharged, cancelled, or tliey expire. Page 23
St Ldinuiid's School Cantei-bury Notes to the financial statements ror the year ended 31 August 2024 Cash and cash equiJ'1. leDt5 Casli ancl cash eqLiivalciits incliide ch iii liand, dep05115 held al call with banl(s, other shoil-temi Iiqliid ini'estmenls with orioinal niLiliii'ilies of tliree inontlis or less. and bank overdrafts. Bank overdriifts are shoivn withit) borrowings in CiliTent Ci-itical 41CLounting est&mAte5 #nd areas of judgment Tlic Goveimors do iiol Consider any lo be jLidLTeRiciits oi. estimalioiis ivliicli have a significaiit effect oli tlie fin£incial st¢ltenienls. Donutions llnd legacies Group 2024 2023 Variety of thiiors - Restricted Variety ot Donors - Unres tiicted 61,534 65,73S 280,310 127,269 280,310 Charitable activIties 2024 2023 Fees Grosb liiiliun, boardlliu aiid gLiardiaii lees Mus ic Fees 16,606,212 309,291 14,455,575 268,513 Less.. Total biirsaries, schotarships, ¢?SSlSted places. siibs idles and discounts 3,475,061) 3,195,173) 13,440,442 11.528,91) All charitable inconr in ?024 and ?023 ivas unrestritted. Other trading income Group 2U24 2023 Facilities inconr Canwaigi) incoine Tradllig llicoine (note 6) 288,472 28,881 58,527 16,345 156.678 373,274 The campaign iiiconE relates lo the School's developn]eiil caiTpaigii. Of the total other tradiiig iiicome received in 2024. £28.881 {?0?3.. £16.345) M'as attnbut£ible to I'estiicted ndS and £344,393 i?0?3'. £?15,?O51 to iiiirestiicted Rinds. ?31,550 Pagc 24
St Eclmund's School Canlerbtirv Notes to the financial statenieiits For tlie )'ear ended 31 August 2024 Instme[1ts Group 2024 2023 Baiik and other uiterest 36,446 37.624 44,459 31,751 Income fiDiii li.gted investii]ent5 74,069 76,209 Of Ilie lolii l inves Iment incorne received in 21P4, £nd {?02J'. £1,634) Ivas attributable to restricted fuiids, £37,6?4 (?0?3.' £30,017} lo endowed fiii)ds aiid £J6,446 1?023-. £44,559) to illiEtslri¢ted nds. Tr#ding tncomc STEDS Limlted 20?4 2023 Tiiniover 5),921 16,101 156,678 11.210) Cost ofsales DSS pi.ofit 49,820 145.467 Otlier opei"ating eyeiises (11,715) Protil on ordinary activities belore and after tux 39.428 133,753 Aiidit fees of £5,000 (?0?3'. £4.8(Kii are included iii opeizlllig eenSe.%. Rais iijg funds 2024 2023 Tradtng e>penditiire (note 6) IiivestJrEnt ThnatsertEiit charge5 Fundrais ing e)penses 16,494 22,9?5 57,011 73,505 49,048 Of tlie total e.Ypendiliire on taising fiinds ii) 2024 £57,011 (2023.. £26,] ?3) was altribLltable lo rcstricted ftinds, £Nil l?023-. £Nil) to endowed 1]dS aiid £16,494 120?3= £22.9251 to uiirestricted fiinds. Page 25
St Edmund's Scliool Canterbury Notes to the finaneial statement5 oi. tlie year ended 31 Aiigust 2024 8 Chdritable aLtiirylies - Group Staff costs Other Depreeitttion 2024 2023 Te42chuig c05t5 Wclfure costs 7297.214 834,417 438.780 896.4)? 979.?89 1,098,50¥ 1.176,026 960.4?9 8276,503 1932,925 2,001 J84 1,937,556 6,899.035 1.403,406 1,975.2 1.634,565 2,466 119,926 Prcmises SupporE Costs Iiiote 9) - Cffants. awards and prizes - Resiricled Awards 386.578 80.675 9,466,863 4,214.252 467,253 14.148.369 12.034,623 Of tlJe total cliaritable activites in 20?4. £Nll (?0?3.. £119.6) Ivas Bttributable to $tricted fullds. £Nil [?3. £nili was attribiitable to endoived funds and £14.148.367 1?0?3.. £11,914.697) to unresticted thnds. Other s Uprt costs 2024 2023 Fiiiaiice costs Otlici. opei'alitLU costs ven)aiice costs {see beloivl 115,068 488,160 357.201 135,889 517,468 73,IM5 Totlll 960,4?9 726.402 GOran£e costs 2024 2023 Audit and aCCOLinlai)cy fees (note 10) Leual and professional fees Cbveniot8' Tiavel Expenses 36,540 283,?54 80,907 29,435 110 Total 319,794 110,452 Page 26
St Edinijnd's Scliool Canterbiiry 'otes to tlle financial statemeiits For the yeai. ended 31 August 2024 l O Auditor's reniiineration 2024 2023 Aiiditovs Ilnllinention for statiitory £iudil'. Groiip aiid Scliool Siibsidiary conipaiiy Otlier aiidit services- Teachers, pension scheine A uditor's non aiidit seii'i¢es'. Tax conwliaiice 29.400 3,600 68,307 4.8(K> 1,140 2.IlX) 2,400 5.71KI 36.540 80,gQ7 I l Taxation 2024 2023 Current tax: Uiiited Ilingdom corporation taxon res Lilis for the year Under provis ioii ll) piior year5 CLIITeiil lax charge inclLided in %iindry co.qts Foctors affecting the tax charge for the year: IDeficitllProfit on ordiEi£lly activites befoiE lax 39.4?8 133.753 Profit oli orduiary actiN ltes iiwltiplied by tlie s I]dard ratc ol UK CQIPOT£ltioii lax oF25.0(y/o123.. ?1.5?Q/ol 9,857 28.783 Effects of.. Non-takible incotne Anticipated quabfying charitable donation by STEDS Limited Deferred laxnol recognised Client Lax cl)arue (9.857) 1?8,7831 12 Net lllcome Group 2024 2023 Tliib is Staled after tyliaruing.. Dcprccialioii Operating leiise rentals Iiiteres t payable., Ba11k interest aiid other charges - Loan interest CK>N'emors' Travel Eyenses 467,253 665)4 377,483 68,081 31.556 81,72? 10,071 75,407 110 &17.085 531,152 Page 27
St LdJnund's School Canterbiiry Notes to the fjnaneial statements ri or the ye21- ended 31 August 2024 13 Staff Lvsts 2024 2023 Wages and salaries Socilll sccurity Costs Pcnsinn contribiition5 7.464.418 758,453 1 ?43.C)93 6,480,371 646,388 ,025,971 9,466,863 8,151730 Included lli siaff costs are s reStCturl8 cos15 totalling £NtL I?0?3.. £30,768). The aNEI'age numIr of emplovces in the year IS. 2024 Numbei. 2023 Number Teacliing 2nd support stalf.. Fiill t1 P<1rt time Peripatetic Miis ic Teachers DonTslic Admiiiislralioii 81 29 ?3 49 41 32 233 2?3 The aitrAge ofeinplo}'ees on A Full Time Fqllii'.)lent IFrK) basis lias: 211Y4 Nllmr 20?3 NumIr Teac1}rr and siipport staff.. FLIU tllT - Part Isn PeripLlteti¢ Music Teacherg Dontstic Adininistntion 83 18 81 17 36 32 35 179 169 Tlic govemors and Lmstees did not re¥eive any renwiierdtion or rcunbuT5emeiit of eypenses during tlie year ut)der review or rlie previous year. The nurd)er of etwloyees ivhose emluments eeeded £60.OtX) Ivas.. 2024 Number 2023 Nuinber £60,001- £70,000 £70,tN)1- £80,000 £80.()01- £90,0 £90,001- £100.000 £ i(x).001- E 110.ooo £110.001 £120,000 £120.001- £130,000 £130,001- £140.000 £140,001- £150,000 £150,001-£160,0( Tlie k¢y tronageffrnl persoiinelof Ihe Lhariiy ¢oiryirise the Board of G)vernors ai)d tlie Head sllppoi1ed by an &Kecutive Tea H,hiLh iii¢liides the Head of Senior SchooL Head oF3unior School. Head of Pre-prep and the Bursar. The total rei)wnerntion {tncluding etrployei iialioiial insuranLC gnd ¢iryloyer pensioll contribuiiDnsI of Eh¢ key manaxeii*iit personnel in ?0?4 Wab £576.359 120?3.. £5?5,97)1, Page 28
en ryi I t r%t OJ rry
St Ei dmund's SLhool Canterbui'v Notes to tlie financial statement5 For the }ear ended 31 Auvust ?024 1 S FRxed as set inT¥EStments Group and School 2024 202.1 liiF'e.Itiiieitl, MaFkei valLie I Sepleniber 1,081,027 1,103.83? AcqLllS iliuns at cost Disposals Unreulised aiid rL-alised1055C5 88,392 1,169,419 {22,805) 1.081,0?7 Casl) wilh uiveslineiil nrJni2gei- 683 683 MIE rket value at 31 Au8llSt 1,170,102 1,081.710 Cftsli Deposits 2024 2023 ei)er-Wynn Tnist - Endown*iit Mich4iel Nodder- EndofvTrriit 214 21 214 21 236 1,170J38 236 1.081,946 Total Iiiveslnienls Enduimirnt loan balances liave been sliown llLt 11 ¥ainsr tl)e cotrtsponduig creditor balances. Tlie l)isloiiLal eosl ofthese investinenls is £1,031,795 12023." £ I,OJl,795). 16 InTrEstment in s ubsidlarv 2024 2023 STEDS Linuted 5,IK)O The cliarily ii ¢qiiired 5,000 ordlliary sh<ires of £1 each in STEDS lin]ited, a wholly ON]ed Subs idkiry, (with the regis teied ofFice address beiiig the sanE as its pareiltl on 5 N0vene1. 1998. The net asscts of the s ubsidiary al 31 AIiuLisI 20)4 were £34,21X) 12023.. £34,20QI. Tlie tiadiiig siirpliis for the sub.qidaiy is £39.428 (?023.' su4)1iis £ lJ3,753) and further analysis can be foiind in note 6. Page 30
S't Edmund's Scliool Canterbury
Notes to the Iinancial statemettts
For the year ended 31 Augiist 2024
17 Debtors
Group
2024
Scliool
2024
2023
2023
Ti'<ide dcbiots
Fees
Othei. debtors and prcpaynEiils
AITK)iiiil diie froin subs idiaiy Lindertaking
810
911.511
344,217
486
920,340
334,511
911511
344317
64.469
1,320,197
920,341
33?.726
1.256.538
I,255,337
1.253,067
18 Creditors
Croup
2024
School
2024
2023
2023
Aiiioiiiitsflllliiig diie witliin oneyear..
Tnde creditors
Bank loaiis ciiid overdrafts
OEhci- taxcs and SOCi2L I seciii'ity
Other ereditors
FinanLe leases
AtTh)unt due to s ubsidi
St Edmiind's Scliool Canterbury 'otes to tlie finanLial statements For the yeat. ended 31 August 2024 19 Crethtors Croup SchoDI 2024 2023 2023 Aiiioiiiils.ffjlliiig iliiv ffftLJI- oiie )?eiir.- Bank. loa115 1_? Bank. loans ?_5 yea Bank.10£1ns 5- )iears TLilal Bank Ioillls ? lyr 363,253 806,424 ,893,782 3,063,459 363253 8U6,424 ,t$93,782 3,063 459 223,1 48i,948 1,140,901 1,849,943 485,948 ,140.901 1,849,943 Group 2074 School 2024 2023 2023 Aiiioiiiilsflllliiig diiL' uftei- oiieyeur.- Finance leases l-? years F&nance lea%eE 2-5 years Fiiaiice leases k years Falice leases >lyr ?6,143 78,4?9 41J93 145965 26,143 78,479 145,965 Group School 2024 2023 2023 Aiiioiiii¢sf¢illiiig diie ofter oiieye¢rr.- Totiil 1-2 }Jears Toial )_5 year) ToiLII i+ yea TolLil>iyr 389J96 ts1$4,8y3 1,93S.17S 3,209.423 389 J96 884,84.1 1,93i,175 3 ?09,42.1 ie follOwg 5ecuiilies arc hcld over rhe School's a55ets by Natwest Bank Ple.. Mortgaoe issued Marth 1998 overtlie freeliold property known a% l ? i & 4 The Close Si Tlion)As' Hill Canterbury Kent and l & ? St Edmuiids Cottages Gtleb Ldne CanterbLtry Keiit. Moff trage i.gsiied (k-tober 2003 ovei. the property kiioivn Ponli¥iiy, University Road. Canierbury. Kellt. Mort¥a¥e issiied (k'lober 2(M)3 overthe property knoiwi a8 3 St Edilliiiid5 CDtlaues, Gdes Lai)¥. Canietbiiry, Keiit. Legal chaptre issued Noveniber 2017 over Sl Ed1nd'S Scliool. SE Thonlls Flill, C8nterbiiiy. Kent. LebFal cliarkie issued O¢iober ?020 ovei St EdnniDd's School. St Thonw5 Hill. Conterbuiy. Kent. Itn respect ot CBILS} The Naiivest CBILS Loan is due for repaynrnt on ry5rh Septen]ber ?IP6 and ha5 L eur¢eni fi)Ed variable terest rate of ? OV/ll per year ovei the bank's base Fate. The Naiivesi Loaii was refiJ)aiiced dLiring the prioryeor, and 15 due for repa5'rr£nt on 3rd February 21M4. and lias a CiiTrent fixed Enleresl rate of2.23/9 peF year over the bank'5 baskn rate. A New Nativcst Loan was entered inlo duriiig the yearand lias a CLirrenl variable tate ofinteresl ?O/o peryear over Ilie bdnk's base nte 20 Financial in5trunieHts Group 2024 School ?024 2023 2023 Carryinui amount of fjnkincial assets FinanLial assets liaSlIred at aniortised Lr>st Flliai)cial libjlities at allrtised cost 911,SJl 1,603.048 920,340 1,723,254 975.979 1,603,048 920,341 I,T23,S Pa(ye 3?
.9t li dmiind's Seliool Cantei'biiry Notes to the fiii2i neial statements For tlie year ended 31 August 2024 21 Fjnaneial eoinniitments Opei?ting leases The cliiirilable coillpaiiy leases a iiumber of assets iinderconlrncted ¢onJr£rcial lern5. Al the reporting dale the Lhaiily had total outs tandiiig eonunitineiits for fiitiire nwninllim lease paynEnls uiidernoii-cancelldble operaliiig leases, which fall due a.8 follows.. Group 2024 School 2024 2023 2023 Less Iliaii one year Between l aiid 5 yeiirs 54,821 2?,756 66.554 41,746 54,821 22,756 66,554 41,746 77.577 108300 77,577 108,300 Fiiiance leases Tlie charitable conyany leases a iiiirTber of assets iiiidercontracted conm*rcial ten1. Ai tlie reporting date tl)e cliarity Iiad total oiils IIL Iidllig cotnmitnKnlB foi fviure niinimiim lease Plc yineiits iiiidernon-canceU&ble fanCe leases Kvith a net book value at 31 Aug(Ist ?024 £17J,197 {2023.. £Nil) which tall diie as folloivs.. Group 2024 School 2024 2023 20?3 Less than one year BetNveen l aiid 5 years Over 5 ye&r5 26,143 104,571 41 J93 26.143 104,571 41,393 172 107 172.107 Page 33
St Edmund's School Canterbury
Notes to the finaneial statements
For the year ended 31 August 2024
12 afTrEta45ets tofuts dIeSr
O¢btr net
55its1
¥Sxed
sets
T•t*l ZQ24
tknrestrictedfllrt&:
-S¢htsol C¢neral fvnd
7.275.PAO
{6,159,7521
1,11&088
-FouThdation fund
-organ Fund
-ThcutrL'
-Pvoll Sporfs Hall
-5$ Fund
-C¥GFoundation
19S623
5&176
253.799
9&755
284,633
94755
284.633
14705
-Conwaigrt fund
-Carnpaign fund2
-warme[11 Schvlarohi)
-Btrw¢rs Fund
-Okl Roykn RurJary Fund
-COIqDHatd5hw Fund
-Bursary Fund
1.893.169
1179.nOI
15J53
2228
212
7A491
2,228
21.2
4341
4.841
3.603
-DDnations und legac5
11702
211 J69
3.9)3
211.369
3.gQ3
fr4uipnt
-W0(bifinvesltI
5,722
-HJync5 k8acy Fun
-IKDC1a55roornFund
-hd0nl k)ans
1240
17&522
(4565
17,056
45.445
553.579
32&Y3
31,105
1051
395.$
-&rcnrr-Wynn Brguest
-Mi¢ha¢l NoJd¢r
-JohTh Blca5dcU
45.445
9169QOg
5.155.974
5.185 J74
S¢W
Othernet
a5$etsl
5xcd
assets
Totsl 2D24
ihbrestrl¢iedfunth-
-Schvvl fund
7.?75.YO
{&193.9501
IJI86.8)
Re5tricedFuTrd5'.
-Foundalion thnd
-Org¥n Fun
-Theatre
-Pooll Srions Hdl
-Cknss Fund
-
St Edmund's School Canterbury Notes to the financial statements For the year ended 31 August 2024 2J Alloc?tiLmofDetAssets tOndS aDdre5en$-PrlDrytar Othtr 01 5otsl Flxd sscts Tols12023 Uorcstfitltdfllots.. - Schvol&nernlfiind 5,910289 14.51&35D lJ93.932 Re5triredFuJLds: - FOUndatTr 180,E36 51,496 231J32 -IkgaM Fund -ThrJtr¢ Pooll Sports Hall -aass Fund -cF.Gftsundatll - Canpaign fund - CaIa]S fund2 -WarMenM)ri&l Scholarsh - B¢We ilur5Jry Fund - OW BTrys ]sary Fllttd -CONID Hanlship Fund - Butsary Fund -Slatue Fund DonatK)ns and le8#¢S - Fni$vr¢ Trust - MUS F4Uipntrtt -w0olflnve5tNDtS 98,755 272,037 98,755 27? 037 2(X> 1.684.538 I.6.538 56,517 13.707 4.554 4.554 16.702 16.7 funth: - Endtswftnl loans 128,f IY2,592 58.649 128,tm (A.281 511ffj89 303322 2&754 -frcencr-Wynn Bequ¢51 Mithatl Noddcr 44,971 43,434 43,434 5,91U,Z89 1,081.018 {I,689,SD81 S JOI,IDO Stbfj Othcr Thet J55ptsI Ol*trllllJes} sstts 2073 IreStrICtedrttdS.. -school Conernl lld 14.550.557) 1.361,732 R¢5triCedFurf4. Foundaiion fund 18Q836 51.496 232,33? -OrgJn Fun -Theaire -Pooll Hau -CL4ss Fund -(f.GFourtd41ion -Caryai8n fund -Caupaign fund 2 -WarMenwrial SoholJrsh -Bewers BursAry Fund -old Boys Bursary Fund -COVJD Haidship Fund -Btststsry Fiind -Stlllue Fund -tkinatiurts artd legaeies -Fnre Trust -Mu5i¢ Flltrt -Woolflnve5lnEnls 98,755 271037 2rM) 98,755 272,037 2rM) 250 I,W,538 1,684,538 5Q517 13.707 70x4 4.554 4.554 IA702 o(x) 16,7D2 ijno -FwInI loan I2&0) 15J92 58,649 16217 43.434 12&0 664281 511.689 303.222 21754 -Crterter-Wyrtrt Bequesi -michael NnddEr -Jtshn BkJsd¢ll 44,971 43,434 5.910289 1086018 1.723.710 5272,6Tr0 Page 35
St Edmund's School Canterbury Notes to the financial statements For the year ended 31 August 2024 14 Rr4llstd & Group 2023 Totsl 2014 Unr¢Stri¢ld fu41s'. huibl &rteral Tot#J unre&lrlcted funds RE5trireJ Fpnd5'. - FovTh&iion fthd -Orgn I'.w 9.965 253,8DO 98.755 272.037 250 98.75$ 284.6J3 Z50 -(Ampai fuTrd I.6.53& .7I3AJ8 -cpai lund2 WatMLmurial kho1arship 7.000 70.24 20 1.646 12,705 2,Z28 21,ZOQ - BerS BursDry Fund - Olé BUrry Fd -CN)IqD HardthiTr F - Bwsary - Fd 6.029 4.554 3.444 287 4W41 3.603 250.000 5.OnO 2.990 - m1 Ewpmtnl Furté 3.903 5.722 -OCD aassrooni Trld - Ratiary BuTSary FLmd 1.000 480 I,•oo 480 lot91 r¥s¢rirtcd fund5 1.665J08 90.414 Fd0mEnt lu•ds'. 664.2S2 732,Q52 395.509 -Ikccnrr-Wynn Beq g.844 24.794 -john Bleasth11 43.434 45,445 TDlg1 EnDtl futhds 68.985 Ib191 lund5 5JOI.¥O 13,99#,460 88.393 5.J8JJ74 Srhool Tolol 21JZ4 VnT¢Stri¢tod funds.. &hool Trneial fthd lJ64,732 L.Q86,886 TDlal L.•80,886 Fourtdiliun fwi - Organ Funé 9.965 253.800 •8.7SS 284,633 250 272.037 250 12J9fj - campai fund L,713,4JB - fund? 7.noo 70.224 00 7.000 - W¥r &htsknrship - F - Eewyrs Bwsary bund - Old Boys BurAry Fd - Biw5ary - lue Fund th)naliortsaTrd leIe - Ennisrnor¢TnW - m7¢ E(PPm¢l Fd Wots[lInNeIllel$ Haynes k&pacy Fd - OCD Fd - RThllLry Du¢stry Fd 4.621 2,228 IJ,20Q 6.0?9 287 3.444 3,603 250.000 5.otso 2.990 211 J69 3,903 5.722 523 4¥0 ? 665.308 90.4I4 lund8= - F.ndDwncnl Lndoued I.d5 128.000 6&1.282 125,00 732.U5Z 395,5Q9 41.840 ?4.794 -&ccncr-WynTh Mirhael Nndder 8.844 44.972 4J.434 45,445 Total 37.624 TotaI fun65 S.272.60 81,393 Page 36
St Edmund's School Canterbury Notes to the financial statements For ihe year ended 31 August 2024 24 Analysis of MoTrEment in funds (continued) The Foundation Fund is to provide schoiarships to assist in ]ntaining pupils of the School. or other specific purposes as the donOrY direct. The Canpai(Fn fund was setup to raise funds for the next pliase of the acadell¢ Iiub which recieved donations of £28,914 (2023 £20,794). The Organ fund was setup to raise lldS for the restoration of the school chapel organ. The Theatre fund was setup to raise fund8 for the developlltnt and enhancellllt of the schooltheatre facility. The Pool I Sports Hall fund was setup to raise fi]nds for a swim[g pool enclosure and enhaJ]ced sports facilities. The Donations and legacies fund was setup to Tais¢ funds for ¢nhan¢ing the faci]ities of the school. The Class Fund was setup to ra18e funds to provide scho]atships to assist in maintaining pupils of the SchooL or other specific PUTposes as the dOnorY direct. The GFG Foundation fund was setup lo raise funds to provide bursaries to assist tn n]aintaining pupils of the Scliool studying stem s ubjects. The War Memorial Scholarship Fund is lo be used to provide scholarships to assist in ointaining pupils at the School and such othercharitable putposes in relation to the School as ihe Head might recomnriid. The FndoWlnt fund inco is to be used, at the discretion of the G)vernors, in the rtlierance of the educational objectives of the Scliool. The (keener-wynn Trust EndoWllnt is to provide education for gifted iTK]sical and other scholars ofst Ednwnd's School. The Michael Nodder endowmeiit is to be applied for the benefit of children of the clergy in studying an ecologically fiiendly project. The John Bleasdell endowtrent is to provide scholarships at the discretion of the G)vemors. The COVID hardship lld is to provide fjnancial support to fan]i]ies inpacted by the COVID-19 pandemic. The Bewers Bursary fund is to provide support for an orphaned student(s) of St Edmuiid's School. During the Ye the total scholarship paid from Ibe War Memorial Scholarship Fund was £nil (2023.. £nil). paid from the Endownrnt fund was £nil (2023.. £nil), paid from the Foundation Fund was £nil (2023.. £nil) The EnnisnJ)re Trust is to provide support for bursaries and scholatships. The Music EquipEnt fund is to support the pur¢hase of ]rsICal instrunnIs. The Woo]f Invest[nt fund is to provide support for bursaries and scholarships. Page 37
St Edmund's School Canterbury IYot¢5 to the financlal statements For the year ended 31 August 2024 Roxli5d & Gr4DP ETpeTr4Ityre khoo1 &.n&rnl 226.404 - Orw -ThfLtr 1.653.744 7.OOD I34.531 7.OOJ (Lind: - Pund . Bevr$BUr P1 - Boy5 I'.d - cQNIDlI[dthiP Fnd - aur5ary I. a.n54 4.551 J.444 37 25D.100 250.01 5.010 I,wo - u$l( F.•Dm¢nl Fund 2,990 Z,165JOS - F.nthMTh¢nl bznsOikEr LdD1-. IP8.010 554.465 - 1[hall Ntsd&Y JDhn W¢&ell 34 43.4J4 4J,434 TotAI eThdowmeitfund¥ 1.242.5V Total funds RYblli¢4& FAdi1 TolAI 2023 l J64.7Jl Tolll fund5 RVilr5'd Fun4s'. 0dlOn td - Fthi 9.509 23Z.J33 250 - rd 1.663.60fi 2D.932 7.0 70JZ4 200 - Beu¢i¥BWrY Pd CONryDTlarLL%hIpF 500 6.Q54 4.554 3.444 - 9•1 Pd 250.Q 5.OTrD 2.991 254.000 2.990 2,66SJ09 EDdowm*n1 lundy.. 121.000 . {tne[.wYn 16Tr71 T•t41 rntlvwmrht J J42,S_I9 Thllt 5J60.986 $272.599 Page 38
Sl Edmund's Slliool Canlerbury Notes to tlie finaiicial statemenl's ror the )'ear ended 31 August 2024 26 Nel eashflo#,from nrtiOnS - Group 2024 2023 Net {deficit) I surpliis Depreciation Loss 01) disposal of fixed Lissets Fair valiie gain5 Inve5tiTrnl income liiterest reLeived IncrLase in dcbiurs Iiicrease l (decrease) iii Irade and other credilors 1118,425) 467,753 10,508 363,678 102,442 22,805 131,7511 144,4591 1157.9i3} 605.302 {88,392) (37,6?41 136,4461 11,201) 1,711.279 Trlet cash inflow from operating actlNltles 1,896,445 870,572 27 Related rtieS Group and Scliool Mi E O'connor. ¢Lirreni Heiid and acting Head of the Junior School in the prior year, paid School fees for the year totaliiiig £4.476 120?3.. £4,?841. There were amounts outst£indll)g ll) the ciirrent or pievious year. Mi. R Coinfort, CilllEnt Head of thejiillior Schaol, paid Scliool fees foi" the year tolalling £4.314 120?3.. £),6451. Tliere iveie flo 14 nK)Lints oiilsianijino in rhe ciirrent or previoiis ve1£ r. Mr N Scoti-KIl.ert, tlie Bilar, paid School lees for the year totalliiig .£13,755 (?023'. £14.7Tr1. Tliere were nnioiiiils Ollt5taiidllig in theciiii-eiTrl oi. previoiis year. Mrs S HuLlson. Ihe Head ol Hutran Resoiirce5. paid Scl)ool fees for the year totalluig £10.565 I23.. £272671. Their were Jio anul1t.% autstaiidiiig u) IhL CUITelll orpreviou5 year. During the yeai. tlie cliarity received sponsorship and adv¢rtisllig revenue lotalling £nil i?023.. £1,0301 fin Biiroess Hodgson LLP where Mr S Sutlon, Cx)veinor, is pailnerof the Finn Theie weFe no antS oiir5tai)ding tn the cu]Teiit or previoLlS year. Duri]Ig the yearnil l?023.. 11 tni.%te¢s doiitaled a t(Ital of £nil (2023.. £2.OLKI) to tlie sclioolin ilie year. During Llie year the charity received a cliaritible donation to the juilior school charity collectitsiis totalling £nil {?0?3.. £1001 fJDm Hi Kent wl)cre Mr P Todd, C()vemor, is a ditectOF. TlieFe ivere no amoLlI)tS Olllslanding in Ilie curtnt orpTevious ycar. School Iluring the year Ilie charity had the followu)g transactions Mqih its 5ubsidiJry STEDS Lllnired.. Managent charge to STEDS Limited Gitted profits from STEDS Lllnited £6,690 £39.4?8 120J? .. £6.6901 {2023.. £133.753) At the balllnce sheel datc È64.469 1?0?3.. diie lo Sleds £38.7371 was owred froin STEDS Luniled and ig cluded w&tI)Ul ClEditOls {dtbtors in Ilie prioi yea1}. No inteTest has been chttrged on tlie oiitslanduig an11{ l?0?3.' nin. All of the above trdll5aciioiis have been eliminatcd on consolidation. Page 39
St Idinund's Seliool Cantei-bury 'otes to the financial statements Foi- the year ended 31 August 2024 28 Pension similAr obligations Tl)e Scl)ool partlClP%iies in tlie Teacher5, Pens ion Scl)eme @Igl%ind and Wales ITPSI for acadeniic IIC IElaled 5Laff, whiclJ is a mulii-einpluyer d¢tined beiiefn sclienEs. Tlie latesi aLiiiJrial valuation of tlie TPS rLlaled lo tli¢ period ended 31 ?O?O. Tegchers, PeEasion Scheme The Teacliers, Pension Stheme ITPSI is a slatulOry,conlribuloiy.dLfiiied beiiLfit sLhenE. Etterned b tl)¢ T¢achcis'Pensions 2014. Metnbership is 1£ Utomalic for teache in aeaderrrie.%_ All ttdtheis have tl opiion to opt-out of the TPS follo enrobnent.The TPS is an unfiind¢d schenr and nrmbeis conttEbute on a 'pay ds YOLI go, basis- these contnbulions along tliose irnde by enployers are credited to the Excheqiier. Tlie academy tnist hc?s ac¢oiinied for its contnbulion5 to the5Che if it were a dLfined coiitribution scheme. The LiLadetny tnist has set oiit beloiv tlie llifonn4tioJi avatlL2ble oi the scljeme. Vnluation of the Teachers, PeTr5ioTr Schem¢ The Q)i'emnEnt Actuary, ustrng nollml acliiarial prinLipleb, conducts a fomwl actuarial review of ihi TPS in aceoilance iviih tlic Public seIce PensEons {Vahialions and Enylover Cosi Copl DiiectlOll5 ?O?J published by HM Treasury every 4 years. Tlie aim of the review is lo %peeity the Ve1 01-tUre ¢ontribiitioiis. Aciiiarial sChc i'aliialions dcpendcnton assiirylions about thevalle of ftiiure costs, design of benefits and Tmny other factors. The latest actuarial valEiatioti of tlie TPS was earrie oiil as at 31 arch 2020 in a¢cord3nce ivith The PLEblic Service Pensions IVl411114 tIons aiid &iipioyer C051 Capl Dire¢iions 2023 and the tnwloyer Contribufion ILile ivas assessed usiiig agreed ssitmpiions iii liiie willi tlie DiTeclions andwas accepted at the orioinal assessed rnte as there no cost conirol llrLhaiii%m breach. Tlie valuaiioii rL'port il'as pubhshed by tlie Depdrtmenl for Educaiion on 26 Ociober ?093. The key clennls oftlie iialualioii are.. Toial sclien bibdiiies for sen'ice (the capital siin) iieeded at 31 kl&reli ?020 to Ilie streth of fiiture Clc sli flowb 111 iespecl of bellefits eaniedl of£?62 bEIIioii VIE lue ofnorional assLts les11ted [Lire ¢ontnbiiLiOnS iogetlieiwith tlie pro¢eed5 froin tlie iioltonal iiiveslii]ttn15 hekl at the valualion datel oE'£??? billion NotlOEldl past seTh'ice def11 of£39.8 billion 12016 £?? biliiotk} Discount rale is 1.7°/o excess of CPI {2016 2.4'/D in excess ofcpii {this cl)ange has had the ereatest fnancial sieiiificancel As a resllli of tlie valitation, new ew)loyer Contnbiition ntes have been serat 28.61u of pensionable pay from l April 7024 Linlil 31 March 20?7 Icotnpared to 23.68U/o ill)der the previoit5 valuation cILidllig ) O.OS/o Jdiniiiistrntion kvyl. Tlie einployeF'S pensiOJJ tobts P?É id lo TPS in Ihe period al]Uted lo £1.116,449 {?0?3.. £914,730) an al the yearend £130,L14 I?0?3. £106.95?) was accnied SPeCt of conlnbiilions to thi% schen, 29 Capital commitment5 - Group andschool 2024 2023 Contrn¢led for biit not provided in thesc thiancial statements 163,969 ?243,134 Patre40