REGlS'fERED COMPANY NL.NIBER: 00400695 {Englgnd and Wales)
REC.ISTERED CHARITY NUMBER: J056624
REPORT OF THE TRLSTEES
Ft)AYCIAL STATENIEITS FOR THE YE.AR E)DED
31ST JLI.Y 2024
FOR
THE FRIE.NDS OF HIGHGATE SCHOOL SOCIETY

THE FRIEINDS OF HIGHGATE SCHOOL SOCIETY
CONTENTS OF THE FIN.4NCIAL sTATE￿IE.￿Ts
FOR TIIE YEAR EjDED.IIST JULY 2024
Page
Report of the TTU5tees
to4
Report of the Independeni Audirors
5t06
Statement of Financial Activities
Balance Sheet
8t09
oies to the Financial Sr21ements
Ioto 17
Detailed Sraiement of Financial Acii%'iiies ?072
18

THE FRIEI)DS UF HIGEIGATE SCHOOL SOCIETI.
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST JULY 2024
The Governing Council (Trustees) present their annual report (which incorpornies the directors. report for Ihe purposes
ofcompany law) and Ihe audited financial 51alL Tllents for ihc ycar endcd 31 st Julv 2024.
Referencc and administrative inforniation sct out on page l above fomis part of this repurt. The financial statements
comply with Lurrent statutory rcquircmcnis. the Memorandum and Articlcs of Association and the Statement of
Recotnmended Praclice= CharitiLS SORP (FRS 10?).
The Council Menibers are Trnstees for the purposes of Charity regulations and Directors for the purposes of Company
Law regulations.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00400695 (England and Wales)
Registered Charitv nurnber
1056624
Registered office
Highgare School
North Road
Highgate
London
N6 4AY
Trustee5
SJHBovcy
G Catnpbell
JSDoddKC
P J Epstein
S Fernando
J A Hender50n
M A B M Lmicholl
J Imorelle
J Oyeyi
A S Pettitt
J M Polledri
N Il'ong
Secreiary
Chainnan
(appointed 19 June ?0?41
lappoinied 19 June 70241
{appointed 19 June2024)
Company Secretary
S J 11 Bovey
Senior Statutory Auditor
Susan Plumb ACA
.4uditors
Haines Warts
Chartered Accountants and sfatuiory auditor
Old Station House
Staliun Approach
New'port Streei
Swindon
Wilishire
SNI 3DU

TFIE F'RIENDS OF HIGHGATE SCIIOOL SOCIETY
REPORT OF TEIE TRknSTEES
FOR THE YF.AR ENDED 31ST JULY 2024
REFERENCE ￿ND ADIMILNISTRATIVF. DETAII.S
Bankers
Ndlional Westminster Bank PIC
PO Box 192
116 Fenchurch Street
Lnndon
EC3M SAN
STRLCTL'RE. GOv'EILN.4YCE.￿N'D MAIAGE.IIENT
Governing document
The Charity is a company limited by guardntee as defined b). thc Companies Act 2006. incorporated on 17th November
1945 and rcgistered as a charity on 24th August 1965. Thc Charitable Company was cstablished under a Memorandum
of Association which established the objects and powers of ihe Charitable Company and is governed under its Artieles of
Association. In the event of the Charitable Company beino wound up members are required io contribute an amount not
exceeding £1 each.
Recruitment and gppointment of neiTr trustee5
New appoinirnenis are made by majority decisions of ihc GO￿em]ng Council in accoidance with company law having
regard 10 ihe rel¢vanee of the applicant's experience and the needs of the Clkriiable Company. Appointments are for a
renn of three years.
Induction and training of neTh' trus¢ees
Ne￿. meTnbers receii'e an induciion pack w'hich includes a copy ol the imemordndum & Articles of Association, general
inlorniation about the chari￿bIe Company and irs hisiorv. past minutes of the Governing Council meetings and Ihe lates1
set of accounts. Mi ember5 ariend a meetin¢F of thc GoN'crning Council as an observer before being fornially invited to
become a member. Council members are rccnjited for iheir relek'ant expertise and previous experience.
Organiy#tional structure
The Goieming Council meets six-tnonilkly to adminisier the Charitable Cornpany. Duties atid functions are delegated to
individual metnbers of the GoN'eming Council who w]dertake Ihese on an unpaid voluntary basis in conjunction with the
Head and oiher olTicials of Highgaie School and w'here appropnate through free uiilisation of the School's facilities. There
are no paid ernployees of the Chariiable Cornpan￿.
Relkited parties
Th¥ Lharitable Company work5 in conjunction with Highgatc School, whose students arc lis principal beneficiaries.
Charitable Company has the benefii ofthe free usc of adminislraiive faciliiies at Highga¢e School to cnable it lo carry oul
its aims and objectivcs.
Risk management
Risk assebsment is built into Ihe Charitable Company's managemeni sysiem. currcnl income and expenditure arc budgeied
annually and tnonitored at the six monthly Governing Council meeiings. The Chari(able Company has funds to cover
unexpecied expenditures in the short-tertn. The Governing Council has and 5ceks 10 maintain a membership of wide
professional experience. The longer-term risk thai investment income leve15 Tnay fall is kept under rcview.
The Governing Council has reviewed thc cxposure of the Charitable Company to risk and believes th2t the only significant
risk lo which the Charitable Company is open relates 10 fluctuatÉons in the market value of investTncnlS. In the event of
1055 uf income from Ihesc invcstments the CJoverning Council would correspondingly be obligcd lo adjusl ihe grnnts made
or make SULh grants out of retained funds. Thc Chantable Company has the bencfst of donated time frum the Council
mcrnbers and as such has no cmployee cosi commimients at the presenl tirne.
OBJECTIVES AND ACT[￿"1T1Es
Objectives and aims
The Charitable Company'5 objcctivcs and principal aciivtties are to provide funds to support the continued educarion at
Flighgate School of Any student whose parents had died. or whosc family financial circumstances had. for any reason.
unexpectedly dctcriorated and 10 proN'ide scholarships for students whose family could othen¥ise not afford thc fces to
send them to the School in the first place.

TEIE FRIEI)DS OF HIGHGATE SCHOOL SOCIETY
REPORT OF THE TRUSTEES
FOR"I'FIE YLAR ENDED 31ST JULY 2024
OBJECTIN'ES AND ACTIVITIES
A fullhLr aim of thè Charitable Company is ￿ financc each year a numbcr of projects which add facilities or CqUiPTnenl
In those Pro￿ Ided by thc Govcrnor5. so as to enrich ihe life of students at Highgaie SLhool and to extend Iheir opportunities.
There have bccn no material changes in the policies adopted by the Charitable Company.
The affairs of Ihe Charitablc Company are administered by its. Governing L ouncil. which includes Governors, Ihe Head.
Old L holmelei£ins (old pupils of Highgaie). parenis and other friends ofthe School. The Friends, inLome is derived from
the investmeni of bcquesls. covenants and donations from supporters of the S¢hool. The goveming instrument of the
Charitable Company is to be found in it5 Mcmordndum and Articles of A55(Kiation.
Public Benefit
The Goveming Council has oiven due consideration to the Charit). Commission published guidance on the opcration of
the public benefit requirement. The Governing Council considers Ihe public bencfit proN'idcd to bc ihe provision of
funding to enable ¢ducalion lo be provided for sludcnLs who could othelwise not afford thc fees to attend the School. and
to provide free of chargc furthir facilities ai Ihe School for the benefit of the students generally.
ACHIEIIEMI ENT kiYD PERFOR.11.4.NCE
CharitAblc aclivities
Thc Charitable Lornpany and the Governing Council continue to review the ineome and experkditure of the Charitable
Company to achieve a general year on year balance. The Charitable Company conlinues ro be in a position to asslst those
students who meets its eligibiliry cllieria. and the Governing Council thcrcfore considers the objectives of the Charitable
Companv 10 have beLn satisfactorily met. During the year under rei'iew Ihe Charitable Company assisted seven studenis
with educational (Frants varying from 2) /0 to 10(P/o of school fees. and continued to fund an annual full bursary for a
pupil in rhe Senior School as well as a sixih fonn bursary paid from Ihe Chipp bequest. In &ddiiion, the Charitable
Company have made a serics of other smaller granrs for Ihc benefit of pupils and rhe school's wider educational and
partnership practices (including for the School's partner school The London Academy of F.xcellence Totlenham).
FtNANCIAI, REVILW
Reserves polic).
The Charitable Company docs not consider thal li holds any reseTres surplus to requirements as the funds are held for the
purpose of generating income for the purposes of making grants and loans. The Chariiable Company is occasionally in
reLeipi of legacies and donations bul is nul depcndent on these. Ai Ihe year cnd ihc Charilablc Company had total
rcscrvc5 of £2,606,644, of whÈch £931.953 were restricted funds and £1.674.691 unrestricted funds.
Frcc Ic5erves at the year-end amounied to £N' il.
unds in deficit
None of the restricted funds were in deficil.
Investment poliev and objective5, including any relevant ethie*l politv
The Charifable Company's invebtmcnl policy is io achievc a balance between income and the opportunity for capital
appreciation over a period of time. None of Ihe individual investments comprise MO￿ than i % of the toial invc5tment
portfolio. The Chariiable Company's investments hai'c mct the principal objective of maintaining their total value ivhilst
income has bcen maintained.
FI)AYCIAL REVIEW
Review of the Charitable Company'5 financial p051tion
The gross inC()￿e for the year amounied io £?09.26i (?023- £146.664) and from this sum and the reserves brought
forward ihe Goveming Council were pleased to be able to approve expenditure totslling £189,182 120?3- £130.649) for
educational grants. loan5 and funding for school projecis. Thcse are detailed in ihe notes lo the accounts. After dealing
with Govcrnance and admlnisirati￿'e expenses. Iherc was a dcficit of income oi'er expenditure for the year of £44.384
(2023- Deficii £41.283). It is necessary to recogni%e in thc accounts the movcmeni in the values of the investmenis and
after taking account of Ihc incrcase in stock markei values during the year of £171.634 (2023- decrease £77.159) and the
realised losses on inveslTnents sold of £11.3451?023- gains £?2.581) therc is an okerall increase in investment funds frotn
31 st July 20?3 10 31 si July ?024 of £160,?89 (2023- decre&%e £99.7401 as Shown in the Statement of Financial Activities.

THE FRIEIYDS OTr. IIIGHGATE SCIIOOI. SOCIETI.
REPORT OF THE TRUSTEES
FOR THE YE.4R ENDED 31ST JULY 2024
PI,ANS FOR FLTLRE PERIODS
Ther¢ are no prcsent plans for any changes to the Chariiable Company's objeclives or aclivities.
.STATEMEINT OF I'RLSTEES RESPONSIBILITIES
The tr1151ecs (who are also the direciors of The Friends of Highgale School Socicty for the purpo.ses of Lompany law} are
responsible for preparing the Report of ihe Tn]5tees and IhL finanLial stalemcnls in accordancc wilh applicable law and
United Kingdom ALcuunting Standard5 (Uniied Kingdotn Generally Accepied AcLounting Practice).
Compdny requires thc trnstecs tu prepare financial siatements for each financial year which give a true and fair view
of thL slate ol'affairs of Ihc chariiable company and of Ihe incoming resources and application of resources. incliiding the
income and ex￿ndItUre. of the chariiable company lor thal period. In preparing those financial staiements. the tn15tces
are rcquired lo
select suiiable accounting policies and then apply them consisiently-
observe the rntthods and principles in the Chariry SORP:
make judgcTncnt5 3Ttd csiimatcs Ihal are reasonable and pruden(
prepare the financial statetncnls on the going concern basis unless it is inappropriate to presume thal the charitable
Company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial posilion of the charitable Company and io enable tbcm io ensure that the linancial Statements comply with
the Companies Act 2006. They arc also responsibl¢ for safegLwding the assets of ihe charitable company and hence for
taking reasonable sieps for the prcyeniion and dctcction of Irdud and other irregulariiies.
KD so far as the Iru5tees are aware=
there is no relevant audit intonnation ofwhich the charitable cotnpany's auditors are unaware,. and
the trusiees have ￿keft all steps that ihey oughi 10 ha%'e taken to make themsel￿.eS aware of any relevani audit
information and to esiablish Ihat Ihe auditor5 are aware of that infornation.
ALTDITORS
The auditors. Haines Watts. will be proposed for re-appointment ai the forthcoming Annual General Meeiing.
This rcport has been prepared in accoidance with the spccial p￿vISIOnS of Part 15 of the Companics Act 2006 relating to
small companies.
Approved by order of the board Ortn￿lee8 on
?02) and signcd on its behalf by=
s )611
J S Dodd KC - Trustee
Lfj.S.Qs-

REPORT OF THE INDEPENDE)T.4UDITORSTOTHE NIEIIBERS OF
THE FRIF..*4DS UF TrIIGHGATE SCHOOL SOCIETI,
Opinion
We havc auditcd rhc financial statements of The Friends Of Highgate School Society {Ihe 'challtable company,) for the
ycar cndld 31 July 2024 which comprise ihe Statemcnt of Financial Aclivitics, Ihc Balance Sheei and notes to the financial
statements, including a summary of significant accounting policies. The finanLial reporting frdmcwork that hds been
applied in their preparation 15 applicable law and Lnited Kingdom Accounting Sthndards. including Financial Rcporting
Standard l O? The Financial Rcporting Standard applELablc in Ihe LK and Republic ()f Ircland {Unitcd Kingdoni Generally
ALcepted Accounting Practice).
In our opinion the financial statement5:
give a Irue and fair &'2LW of the stat¢ of ihc charitable company's atTairs as al 31 July 2024, and of its incorning
resourcis and application of resource5, including its income and cxpenditure, for the ycar thcn ended:
have been properly prepared in accordance with Uniicd Kingdom Generally Accepted Accounting Prdctice. and
have been p￿ Pared in accordancc with thc rcquirements of thc Covnpanies Act 2(X)6.
Basis for opinio
We conducied our audit in accordance with Inrernaiional Standards on Audilino
(LK) IISAS (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audii of the
tinancial statements section of our report. We are independent of Ihe charitable company in accordance with the ethical
requirerllents that are relevant to our audit of the financial statement5 in the UK. ittcluding the FRC'S Ethical Siandard,
aDd we have fulfilled our other eihical iespousibililies in accordance with These requirements. We believe that the audit
evidence we have obimincd is sufficient and appropriate to provide a basis for our opinioft.
Conclusion5 relating to going concern
In auditing the financial staiemenls, we ha￿e ioncluded thai the twsiees, use of the going concern basis of accounting in
the preparation of the finaticial siatemenrs is appropriaie.
Based on the work w¢ haTre perfornied, w¢ ha￿e not identified any material uncertainties relaiing EO events or conditions
that, individually or collecti&ely, may cast significant doubt on the charitable companv's abiliry to continue as a going
concern for a pcriod of ai Ica51 twclvc mon(hs frotn when the financial statcments ale authorised for issue.
Our rcsponsibililicb and Ihc rcsponsibilitics of ihc trustee5 with rcspcct lo goin¥ concem are described in the relevant
scclions of(his report.
Other information
The trustees are respunsible for thL Other infom]alion. The other infomiation Comprises the information included in the
truslccs. annual report. other than the financial staleTncnts and our auditor's report ihereon. Our opinion on the financial
stalcmenis does not cover Ihc oiher infomaiion and, cxcepl to Ihe exteni otherwise explicitly stated in our report. we do
not express any fomi of assurance conclusion Ihereon.
Tn Lonnection ￿1th our audit of the financial slaiements. our responsibility is to read the other information and, in doing
so, consider whether the oiher infomialion is materially inconiistent with the financial statements or our knowlcdge
obtained in the audit or otherwise appears lo be materially misstated. If we idenlify such material inconsibiencies or
apparent matenal misstatctnents. wc arc rcquircd to detertnine whcther there 15 a material misstatement in the financial
statements or a m41terial missiaiemeni OF the other information. If. based on the work we have performed. wc concludc
that there is a rnaterial misstatement of Ihis other infornlation, *e are required to report that fact.
We have nothing to report in this regard.

REPORT OTr""1'14E I.NDEPENDENT ALDITORS TO TIIE TrIENIBERS OF
THL fr'RIE)DS OF HIGHGATE SCIIOOL SOCIETI.
Opitjions on other matter5 prescribed by the CompaDie5 Act 2006
In our opinion. based on the work undertsken in the course of the audir-
the infomiation gTven in Ihe ￿Slee5. report {incorpordting the d1￿ctOrS. report) for the financial year for which
Ehe financial statements are prcparcd is consistenl with thc financial s￿le1￿CnI$,. and
the directors report has been prepared in accordance with applicable legal requirements.
Matters on which Ive are required to report b!. exception
In the lighi of our knowledge and understanding of the charitable company and ils environmenl obtained in the course of
the aiidil. we hafv'e not idcntified material misstatemcnls in the director5, report.
We have noihing lo report in respect ofthc following matteTS in relation to which the Companics Act 2006 requires us lo
report to you it, in our opinion..
adcquate accounting records haN-c not been kept. or returns adequat¢ foT our audil have not been rcccived from
branches not visited by us.. or
the financial statements are not in agreement with the accounting records and reiurns- or
certain disclosures of directors. remuneration specified by law are not made: or
we have not recei*ed all the infoTrnation and eiplanalions we require for our audii - or
Ihe trusiees were not enlitled to prepare the Iinancial >taiements in accordance w'iih the small companies. regime
and lake advantage of the small companics. exempiions in preparing ihe directors report and from Ihe requirement io
prepare a strategic report.
Responsibilities of trustee5
As explained more fully in the inJsrees responsibilitie5 Staiemenl sel out on page 4, the irusiees Iwbo arc also the directors
of the charilablc company lor the purposes of company lawl are responsible for the preparation of thc financial staiementS
and for being saiisfied iELai they give a true and Fair N'iew. and for such iniernal control as tbe Irusiees detennine is
necessary to enable Ihc preparaiion of financial staicmcnls that arc frcc fn)m tnatcrial misstatemcni, whether due to fraud
or error.
In preparing the financial statements. Ihc Irusitts are r¢sponsiblc forassessing ihe charitable company s ability to continue
a5 a going concern. disclosing, as applicable, maiters relatcd to going conccrn and using the going conccrn basis or
acLounting unless the trustee5 eiiher intend to liquida(e the charitable compan). or to cease operatiunb. or have no r¢alisliL
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives arc to obtain reasonable assurance about whcther the financial statemen(s as a whole are free from material
misstatement, whether due 10 frdud or crror. and 10 issue an audiior's retK)ri that in¢ludc5 our opinion. Reasonable
assurance is a high level of assurance. but is nol a guaranlce ihai an audit conducted in accordance with ISAS (UK) will
always dctcct a material misstatCTnent when it exisis. Mis5taiements can arise from frdud or error and are considered
material if. individually or in thc aggregate. Ihey could reasonably be expccted to influence the ￿onoMiC decisions of
useri taken on the basis of these financial statements.
We obtained an understanding of the legal and regulatory framework applicable to both the charity iiself and the
environment in which li operaie5. We idcntificd areas of law5 and regulaiions that could reasonably be expectcd to have
a material effect on the financial 5taiLments from our secior experiencc and Ihrough discussion with ihc directors and
other managcmeni. The most significant were identified as the Companics Act 2006. LK GAAP (FRS102). Charities Act
201 l and relevant tax legislation.
We considcred the extent of compliance with those laws and regulations as part of our procedures on the related financial
statements. Our audit procedures included:
making enquires of trustees and managemeni as io where they consider there to bc a susceptibility to fraud and wheihcr
they have any knowlcdge or suspicion of fraud-

REPORT OF THE l*iDEPE.NDENT ALDITORS TO THE MEMBERS OF
THE FRIE.NDS OF HIGHGATE SCIIOOL SOCIETY
obtaining an understanding of the internal controls cstablished to milig3te risks relaLed to fraud or non-compliance with
laws and regulations..
a8SC5sing thc risk of managcmcnt Ove￿Ide including idcntifying and testing journal cniries.
challenging the assumptions and judgcments made by management irt its signifiLant accounting e5timaies.
Despite thc audii being planned and conducted in accordance wilh ISAS (UK) Ihere remains an tknavoidable risk that
material Miss￿lerne￿lS in ihe Financial siatements may not be deiecied owing to inherent limitations ol the audit. and
that by their very nature. any such instances of fraud or irregularity likely involvc collusion. forgery. inteniional
misrepresentation5. or the override of internal controls.
A further description of our responsibilities for the audit of the financial staicments is located on the Financial Reporting
Colincil's wcbsiic at www.frc.org.uk/auditorsrc5pon5ibilitics. This de5CriPtion fomis part of our Report of the
Indcpend¥nl Audiiors.
This rcport is tnadc 501cly to ihe charitablc company's Tncrnbcrs. as a body. In accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work ha5 been undenaken so that we might state to (he chariiable company's member5
those Tnatters we dre required to statc to them in an auditor s report and lor no other purpose. To the fullest extent
pemiitled by lam.. we do not accept or assume responsibility ro anyone other than the charitable company and the
charitable Company's m¢mb¢rs as a body, for our audit work. for this report. or for the opitlions we haN'e fornied.
Nc/¥
Susan Plumb ACA (Senior Sixtutory Audiior)
for and on behaifof HaiDes Ivaiis
Chartered Accountants and Siaiulory Audiiors
Old Starion Flouse
Station Approach
Newport Street
Swindon
Wiltshire
SNI 3DU
Dale=

TFIE FRIEIND5 OF IIIGIIGATE SCHOOL SOCIETY
SI".41'ETrIE.N'T OF FI)ANCI,IL tiCTII'ITIF.S
(INCORPOIL4TING .4N IICOIIE .4ND EXPENDITLIRE ACCOL%T)
FOR THE I'E.4R LNDED 31SI" JULTr 2024
20?4
Toial funds
2023
Totsl funds
nrestricted
fundb"
Restricted
funds
INCOMF. FROM:
Dunulions
Investments
129,758
60.635
129.758
79,505
73.706
72,958
18.870
Total income
190,393
18.870
209.263
146,664
EXPF.YDITURE ON:
In&'estment management costs
chan￿ble activiiies
8,685
216.545
2.902
25.515
11.587
242.060
11,715
176,232
Total expenditure
225.230
28.417
253.647
187,947
Net gainsllosses on invesmients
121,349
38.940
160,289
{99.740)
ET IYCOTrIE
86,512
29.393
115.905
(141.0?31
RECONCILIATION OF FLNDS
Total funds brought forward
1588.179
90?.560
2.490,739
2.631.762
TOTAL FUNIDS C.4RRIED FORWARD
1.674.691
931.953
2.606.644
2,490,739
The Thotes forn] part of these financial statements

THE FRIENDS OF HIGIIGATE SCHOOL SOCIEI"
BALANI CF. SHEET
AT.IISI" JLLY 2024
2024
Toial funds
2023
Total fund8
FIXED AS,SETS
Investments
2.ii3.692
2.411.406
cuRRE￿T ASSETS
Debtors
Cash at bank
12
1.000
85,233
147.380
147,380
86,233
CREDITORS
Arnounts falling due within onc year
(94.4281
(6.9001
IET CURRE)T ASSETS
52,952
79,333
TOTAL ASSF.TS LESS CURREtIT
LIABILITIES
2.606.644
2,490.739
ET ASSF.TS
£?.606,644
£?,490,739
14
Unresiricied funds
1.674.691
1,588.179
Restricted full¢L%
Chipp fund
Gri ftrith
756.113
17i.840
7?6.720
175.840
931.953
902.560
TOTAL Trul￿D5
£2.606.644
£2.490.739
The notes foun part of these financial statements
continued...

TIIL fr"RIEINDS OF HIGHGATE SCEIOOI. SOCIETY
B¢KLA.NCE S'FIEET- CONI'INLED
AT 31ST JLLY 2024
Thesc financial statemenls have been preparcd in aLcordanLe with iht special provisions of Part 15 of the Companies Act
2006 relating Lo stnall charilable companics.
The financial statemcnts were approied by the Boatd of Tn￿tte$ on
?0?5 and were signed on its behalf by..
J S Dodd kC-Trustee
on -TnLStee
,103Jzs
The notes lomi part olthese financial slatements
10

THE b'RIEJDS OF HIGHGATE SCHOOL SOCIETY
IIOTES TO THE FIN.4)ClplL STATENIENTS
FOR TIIE YLAR ENDED 3151. JLLY 2024
GENER.4L l￿FoRNIA7.10
The Lharity is a privatc company limited by guardntee. registered in England dnd Wales and a reqistered chariiy
in England and Walcs. The address of thc regisiered otTicc is Highgate School. North Road, Flighgate. London,
N6 4AY.
STAI'EIIEINT OF CONI IPLIA.NCE
These financial statements haN'e been prepared in compliance with FRS 102, The Financial Reporting Standard
applicable in the UK and the Republic of Ireland.. the Statement of Recornrnended Practice applicable (o charitics
preparing Iheir accounts in accordance wilh the Financial Reporting Standard applicablc in the UK and Republic
of Ireland IFRS I O?) (Charities SORP IFRS 10211 and the Chariiies Act 2011.
ACCObNTI)G POLICIES
Accounting convention
The linaiicial statctnenis have been prepared on the historical cost basi5. as modified by the reiwaluaiion of cenain
financial assets and liabilitiC5 and investment propcrties measured a( faiT value through income or eKpenditure.
The financial statements are prepared tn sterling, which is the ￿nctIOnal currency ofthe entity-
Going Concern
There are no material uncertainties regarding the cI￿lty continuing as a going conccm.
Cash now Statement
Thc financial Slalctnent comply wilh FRS 102 1 A (applying L'Fd2te Bulletin I l and Ihus a cash flow statement
ha5 not b¢¢n included.
The significant accounting policies applied in ihe preparntson of these financial siatements are set out below..
These policies have been consistently applied to all year5 presented unless otherwise Stated. No judgemenis in
applying the accouniing policies or key assumptions aboui Ihe future are considered to haN'e a significant effect
on the amounts recognised in the financial statements.
Incoming resources
All incoming rcs0urcL￿ are included in the Siaicment of Financial Activilics when the Charitable Company is
Icgally entitled lo thc incorTrc and ihc amount can bc quanlificd with reasonable accuracy. The following specific
policics are applicd io particular calcgories of incomc".
Donations and covenanted illcome are includcd in the accounts when receI￿.ed.
Lcgacics are included when the Charitable Compan). 15 advised by the personal represenlalive of the
estate thal a payment will be Tnade and Ihe amounl can be quanlified.
Investrnenl incotne is included when receivablc.
Re50urees expended
F.xpcndilurc is rccogni5ed whcn a li3bility 15 inCU￿ed. ConlrdLiual arrangements are recognised as goods or
services arc 5upplicd or whcrc a constructive obligation ari5cs. Expenditure includes any VAT which cannot be
recovered. and is reported as parl of the expendiiure ￿ which IL relaies.
Educational loans are Tnadc to applicants in lieu of educational grants where a loan is considered more appropriate.
Thcy arc trcatcd as non-recoN"erable expenditure in the year in which they are made and any subsequent
repayTncnts arc included &5 illLomc in thc yrar in which thcy arc received.
Cost of generating funds
Costs of generating funds arc ihose costs incurred in attracting voluntary income.

THE FRIEiIDS OF IIIC.IIG.41'Tr: SCHOOL SOCIETY
NOTES TO THE FIN.4NCI.4L STATEMENTS - CO.NTINLED
FOR THE YEAR ENDED 31s"r JLLI. 2024
ACCOLNTIN'G POLICIES- continued
Charitable Ydctivities
Charitable expendiiure comprises those costs inLurrcd by the Charitable Company in the delivery of ils aLtivilieS
and serviLe.% fur lis benefiiiaries_ It includLS both costs that Can be allocated directly to such altivities and ihosc
osts ol-an indireLt nature ncce55ary to suppon them.
Governance costs
Governance costs include those costs associated wilh mecting the constitutional and slatutory requirements of the
Charitable Company and include the audit Icc5 and Cosis Itnked 10 the strnteoic management of the Charitable
Company.
Taxation
As a registered charity, the Charitable Company is exempt from corpordlion tax and Capital gains tax on
invesimcni income and gains and income derived from and applicd to charitable activities.
Fund 4ccounting
Restricied funds are subjcLied io iestrictions on their expendituie imposed by the donor or through the terms of
their reccipl. Resiricted fiinds include a re￿.alUatIOft teseTh'e representing the restatement ol restricted fund
investment assets at market value.
Unre51ricted fvnds are available for use al ihe discreiion ol the Governing Council in [l￿be￿nCe of the gencral
objeclives of the chariry. LnrestricLed funds include a reialuaiion reserve represcnting thc resiaiemeni of general
fund invesimeni asse￿ at market value.
Designated funds are Ltnreslricted fund5 that have been set aside by the Governing Council for particular putposes.
Debtor5
Trade and other debrors are recognised at the settlement amount due. PrepaymenES are valued ai Ihe amount
prepaid.
Creditors
Creditors are rccognised where the charity has a prE5cnl obligaiion resulting from a past cveni Ihal will probably
result in the transfer of funds lo a Lhird party and ihe amount due to 5cttlc ihc obligaiion can be measured or
Cslimaied reliably. Crcdilor5 are recognised ar their settlemeni amount.
Fixed asset investment5
Invesiments held as fixed asset5 are revalued ai mid-market value at the balance sheet date and the gain or loss
iaken to Ihe Statcmcnt ol Financial Activities. The cumulalive net revaluaiion surplus within each fund is
identified and shown separdEely from accumulated income.
12

THE FRIENDS OTr IIIGHGATE SCHOOL SOCIETY
IOTES TO THE FIN'.4.NCIAL STATE.MENTS - CONTINLED
FOR TFIE YE.4R EN4DF.D 31ST JtJLY 2024
DONATIONS
2024
2023
T(yial
Funds
Lnrestricied
funds
Restricted
Funds
Funds
L.oan repayments
Parental and other donations
58.309
71.449
58.309
71.449
73.706
129.758
129.758
73.706
INVE.5T￿lENT INCO,NIF.
2024
Total
Funds
2023
I'otal
Funds
Unrestricied
Funds
Restricted
Funds
Dividends from investmen
Deposit aLcouni interest
58.500
2.135
18.8?0
50
77,320
2,185
72.270
688
60.63)
18.870
79,505
72,9)8
INVESTMEYT IMANAGF.NIENT COSTS
2024
Total
Funds
2023
Total
Funds
Lnrestricted
Funds
Restricted
funds
Portfolio management
8.685
1.587
11.715
CHARITABLE AcfiN'ITIES COSTS
Direct costs
Tota15
F.ducaTion grdnt5
LAET grants
School grants
Govemance costs {note 8)
189,18?
40.945
5.299
6.634
189.18?
40,945
6.634
242.060
242.060
13

THE FRIENDS OF HIGHGAI'L SCIIOOI. SOCIETY
OTES TO THE FINANCIAL STATEMENT,S- Co￿TI)LED
FOR THE YEAR E.NDED 31ST JULY 2024
GON'ER).4.NCE COSTS
20?4
To(al
Funds
2023
Total
Funds
Unrestricied
nds
Restricted
nds
Accountancy
Administrdtive c05t
Auditors, remunerdtion
3.900
134
3.900
134
2,600
3,600
85
2.420
6.634
6.634
6,105
NF.T INCOME
Nct income is stated after chargingl(crcditing)-
2024
Audiiors, retnuncrdtion
2,600
2.420
io.
TRLSTEES, REML*ERATION AYD BEThEFITS
There were no trustees, remuncraiion or other benefits for thc year ended 31 st July 20?4 nor for ihc year ended
31 st July 2023.
Trustees. expen5e$
There were no trusiees, expenses paid for thc ycar ended 3 Isi July 2024 01 for the year ended 31 si July ?023.
FIXF.D.4SSET INVESTIIENTS
Listcd
invesmicnis
MARKET VALL'E
Ai I st Aiiuusi 20?3
Additions
Disposals
Revaluations
2.411.406
419,226
1448.574)
171,634
At 3 Isl July 2024
2.553,692
YET BOOK VALL
Ai 31 st July 2024
2.i53,692
At 3 1st July 2023
2,411.406
The markei value of investment assets hcld outside the UK was £ 1.224.592 (2023- £1.420,204).
The total rcvaluatTon r¢serve at 315t July 2024 included in the above amounied to £427,730 {20?3 -£340,816).
14

THE FRIE,NDS OTr" HIC.H(:ATE SCHOOL SOCIETY
PiOTF.S TO THE FIN.4NCIAL STATEMF.NaTS- CONTINLED
FOR"I'FIL YF'AR ENDED 31ST JLPLY 2024
FIXED ASSF.T INI VEST%I£NTS- continued
UnreslriLted
funds
Restricted
fundi
Restricted
funds
GritTiih
Bequcst
Listed investments
Tothl ￿ndS
General fund Chipp Bequest
Market value ai beginning of the yLar
Acquisitions al cost
Disposal cost al carrying i'alue
Nei unrealised gainslllosses) on revaluaiion
2.411,406
419.226
(448.5741
171,634
1.806.145
373.9?6
(34?.046)
130.505
60i.261
95,300
(106,5?8)
41.129
Markel value at cnd of year
?.j53.692
1.918.530
635.162
Cost at year end
2.125.962
1,565,747
560.215
12.
DEBTORS: AI¥IOLNI'S FALLING DUE WITHIN OIE YEAR
2024
2023
Tax
1,000
1,000
Loans made io siudenls are expensed as charilable expenditure in Ihe year in which thcy are made and subsequent
loan ￿PaYrnLnts iirc rcco￿lsed as voluntary in¥ume in the year in which they are rcccived.
During Ihe )'ear sludcnt loans ol £Nil were made lo studcnis ivhich, as pcr the accounling policy, were treated as
a non-recoverable expendiiure.
13.
CREDITORS: .4hlOLJTS F.4LLING DUE II'ITHIN ONE ￿'E.￿R
2024
2023
Highgate School
Othcr Creditors
Accruals
66.563
20.465
94.4?8
6,900
14.
ON'EMEKf IN FUNDS
Nei movement
Transfers
in funds between funds
Ai 1.8.23
Ai 31.7.24
Drestricted funds
General tund
1.588.179
86,512
1,674,691
Restricted funds
Chipp fund
GritTith
726.720
175.840
29.)93
756.113
175.840
902.560
29.393
931.953
TOTAL FL'L%DS
2.490.739
115.905
7.606,644
15

THE FRIEN'DS OF HIGHGATL SCEIOUI. SOCIETY
OTES TO THE FlINANCI.4L STATE.IIENTS- CONTINLED
FOR"I"IIE YF.AR E.NDED.I15T JLILY 2024
14.
I ION'EML EINT IN FLINDS- continued
Prior year'.-
At 1.8.?3 Net movement
Transfer
in funds between funds
At31.7?4
Unrestricted funds
General fund
1.72i.896
(137.717)
1.588.179
Restricted funds
Chipp fund
Griftith
7JO.026
175,840
(3.306)
726.720
175.840
905.866
(3.3061
90?.560
TOTAL FUNDS
2,631.76?
141.0?3)
2,490,739
15.
COITIISGENT LIABILITIF.S
The￿ were no known contingeni liabilities ai the balance sheet date.
16.
STATL'S. NIF.MBF.RS GUAR.ANTEE LI.4BII.ITIES AND CONTROL
The Fricnds of Highgaie School Society is a compan J. incorporated in England. limitcd by guarantec and has no
share Capi￿1. It is a registered charity (number l Oi66?4).
Each member is liable to contr5bute up to £ l under the guarnntee liability.
The Charitable Company is considered io be under the collective control of the direetors. all of whom act in a
stewardship capaciry.
17.
E E CFIIPP C C GRIFFITH BEQLESTS
The income generdted from ihe resiricied capiial funds of the Chipp and Gn"ffith Bequests call only be applied by
the Charitable Cotllpany ro a55isi siudenis in the costs ol their education at Highgate School. The lenns of the
Chipp Bequest restrict assisiance to those cases Th'here M'ithout such financial assisiance education could noi
commence.
Accumulaied unspeni income in the above Funds is=
Chipp
Griffith
At bcginning of year
Movement in year
100,4?4
19.547)
69,396
Ai end of year
90,877
69,396
16

THE FRIELYDS OF HIGHGATE SCHOOL SOCIETI,
OTF.S TO TIIE FIN.INCIAI. STtlTEIMEN'IS- CONTINL'ED
FOR THE YEAR EN4DF:D 31ST JLILY 2024
18.
AIYALSI'S1.S OF NET ASSETS BETWEEN FL"NDS
Unresiricied
Funds
Restricted Total Funds
Funds
2024
Investmenls
Current assets
Credilors less ihan l year
1,918,530
{157.9161
(85.923)
635.162
30i,296
(¥.505)
2.5i3.692
147.380
(94.4281
ei assets
1,674,691
931,953
2,606.644
19.
RELATED PARTY TIL4NSACTIONS
Dclails of related party iransaclions are sei out in the Ttustees. Report.
17

THE FRIE*4DS OF HIGHGATE SCHOOL SOCIETI,
DETAILED STIlTE,NIENT OF FIJANCI.4L ACTIVITIES
FOR THE YE.4R ENDED 31ST JL'LY 2023
2023
Total funds
2022
Total funds
nrc5triclcd
fun(ts
Restncted
funds
INCO,ME FROM:
Donations
Investments
73.706
55.072
73.706
72.958
17.886
62.339
Totxl income
128.778
17.886
146.664
173.565
EXPENDITLRE ON,:
Ini'L&lmeni manaacmcnt costs
Charitable activiiie
8.787
176.232
?.928
11.715
176.232
13,166
230,692
Total expenditure
185.019
2.928
187.947
243.858
Net gainsllosses on investments
181.476)
(99.740)
(134,2251
ET INCOThIE
{137.717)
(3,306}
(141.023)
1204.5181
RF.CONCILI.4TION OF FLNDS
Total lunds brought forward
1.7?5.896
905,866
2.631.76?
2,836,280
TOT.&L FUIIDS C.4RIUED FORW.4RD
l.i88.179
90?.560
2.490.739
2,631.762
This page does not fortn part of the statutotv financial 5tateTnenlS
18