REGISTERED COIIP.4NI' NLIIIBER: IW0069? (England and Il'alesl REGISTERED CHARITI. NUIIBER.. 1056624 REPORT OF THE TRUSTEES AND FINANCIAL STATF.IIF.NTS FOR THE YEAR ENDED 31ST JLII.Y 2025 FOR THE FRIEND5 OF HIGHGATE SCHOOL SOCIETY
THE FRIENDS OF HIGHGA TE SCHOOL SOCIETY CONTENTS OF THE FIN.4NCIAL STA TEMENTS FOR THE YEAR ENDED 31ST JULY 2025 Pa8e Report ofihe Trus5 1104 Repon of Ihe Indeknd¢DI Aj115 5106 Sthtemeni of FinaDcial Aciiviiies Balanc¢ Sheei 8109 Noies 10 Ihe Financial Stements 1010 17 Dethiled Siaiemeni ol Finaftcial Aciiviiies 2022 18
THE FRIENDS OF HICHCATE SCHOOL SOCIETY REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31STJULY 2025 The Governing Ctsurhcil ITTUeeSl pws¢rti their annual rep)rt lhich irtcorporas Ihe diLorS. re[ for the purtx)ses of company lawl and the thudited financia] staiemertis lor the year ended 31st July 2025. Reference and adrninistraiive information sei oui on pa47e l alK)ve fonns pan o( thi5 retKbrt. The financial staietnenis cotnply wilh curreni siaiuiory requiremen Ihe Memorandum and Anic1¢5 of A55(Kiaiion and the Siatetnenl or Recommended ]¥aciice.' Charilies SORP IFRS 1021. Th¢ CounLII Membews are T%S for pun)os¢s of Chariiy r¢8ulaiioThs and Directors for the purtx)ses of Company Law re8ulations. REFERENCEAND ADIIINISTRATIVE DETAI[ Registered Company number On4(M1695 IFn¥land and Wales) Registered ChArity nllmber 1050624 Registered office Hi¥hgthiL Sch(1 NL>rih Rc>ad Hi8hgate London N6 4AY Trustees S J H Bi)vey G Campbell J S Dixld KC P J Epsieln S Ferndndo J A HendLrson MABMMiLhon S¢(¥e¢ary ChaimiJn lapw)inied 18th June 20251 Chairn)an ITesign¢d 18th June 2025) ITre&5urerl T Nc?riham J Oyeyi A S Peiiilt J M Pi)Iledri N Wong lappoind 18 June 2025) Ire518rd 18 June 2025} Cornpany SecrEt*ry SJHBov¢y Senkor Sl#tutory AditOr Maritn GurnL'y FCA Auditors HainLS Watis Chariered Accountsn15 and sulOry audiior Old Sialion Hou5¢ Sialinn Approach Newpon SITeei Swjndon Wilishi SNI IDU
THE FRIENDS OF HIGHG.4TE SCHOOL SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31STJULY 2025
REFERENCE AND ADMINISTRATII'E DETAIIS
Bankers
National Wesimin5t¢r Bank P]c
tx) Box 19?
110 FenLhuT¢h Sireei
Lc)rtd()n
ECIM SAN
STRUCTLRE. GOVERNANCE AND MANAGEMENT
Governing dnrument
The Charli> 14 h cc)mpany limiied by guarane a5 d¢fined by ihe Companies A¢1 2(K>6. inCOrra1cd 17ih NoveinbL'r
1945 r¢gisi¢red as a charhiy OTh ?4th Augu%1 I¢X)S. Ihe Charithble Company w&s established urmler a Memorandum
of A$SltiOn whsch esthblished lh¢ obj¢L¢s and powers of lh¢ ChaTJthble Company and is govern¢d undLr Jis Articles ol
AsslatiOn. In ihe eveni of the Chariiable Company being wound up members are re9uhr¢d io LvntrLbuiL an amouni noi
exceedLng £1 each.
Recruitment and 4ppoin¢ment of new tTUStets
N¢w
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST JULY 2015
OBJECTIVFS AND ACTIN"ITIES
A furiher aim of Ihe ch11&bIL Company is io finance exh year a nrnr of projects which add facili¢i¢s or equipment
10 Ihose PrOLd< by the co¢rn0rs. 50a5 ioenrich Ihe life of Mudent5 Higbgate Sch(M)l and ioexiend theiropportttniiies.
There have been no MaTial changes in the policie5 adopt¢d by the Chan"table Company.
The 4fi.airs of lh¢ ChaTiiabl¢ coMnY are adminiSred by its GoverniTh8 Council. which iThcludes GovernoTS. the Head.
Old Chi)ItD¢leians (old pupils ol Highgaiel. parents and o¢her friends of Ihe SchLKJI. The Friend5. inco]Tbe 15 derived frorn
th¢ iei[ent of be4uesis. covenartts artd dotsaiions from sUp[ne[S of the Sch(x)l. The governing instrutneni of the
Chariiable Company Es 10 found iTh its MemoraThJum and Anicles of Ass(Kraiioll.
Public Benefit
Th¢ Governing Council has given due ¢onsid¢raiiort to th¢ Chariiy Commission published 8ULdance on Ihe operaiion of
the public ben¢fii r¥quirtm¢rht. Th¢ Governin8 Council considers ihe public ner]I Provided 10 be the prolS1on of
fundin¥ Ici ¢nable educaiLon 10 provided for students who could oiherwise noi afford the fees lo aind ihe &-hool, aJ)d
io provid¢ fre¢ of charge funher faciliiies ai the Sch(x)I for the benefii of the 51udcnts gcncTaJly.
AcHlF.VTr.1F.NT AND PERFORMANCE
Charitable activities
Th¥ Ch
THE FRIENDS OF HIGHGA TE SCHOOL SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 3IST JULY 2025 PLANS FOR FUTURE PERIODS Th¢r¢ Jr¢ no preseni plans lor an> ihathges io the Charithbl¢ Compatly's objeciives or Xiivi¢i¢S. STA TE1F.NT OF TRUSTEES RESPONSIBILITIES The Irusie¢% i %4'hc) dre Jl%c) IhL dirL'Liors of The Fri¢ndi c¥1 Highgt Schwl Society [¢ the purposes of company lawl are Tespon5ibl¢ foi preparLng the Repon tkf lh¢ Tws¢s and ihe rinarbc1 slements in accordaThce with applicable law and Unii¢d Kingdom ALcouniing Siandards Iuniwl kn"n8dom Generally A¢¢epied Accouniing Pt&tic¢l. Company law requLre5 the trusi¢¢s to prepare flnancial 5tstements for each firkancial year which 8ive and fair view of Ihe siaie L)f al'fairs of th¢ Lharitable Lompany and of th¢ incoming resources and application of re50urL¢5, including the incorne and expendiluie, of the ¢haritsble company th41 In preparin8 those financial $TeMents. the trusiee5 are T¢qU)T¢d 10 select sutiable accouniing p)li¢ies w)d then apply ihcm consisi¢DIly- observe ihe meihiThJ5 and principles in Ihe Chariiy SORP.. make judgemenis estimas thai are reasonabk and thnI. prepure Ihe finanLial siaiemenis on Ihe going con¢¢rn basis unle55 li is inappropria 10 presume thai ¢h¢ ¢h8riiable eompany will ¢oThiinue in business. The Iwsi¢¢s are resrx>nsible for keeping pryr CoU11ng r¢¢or(Is whhch disclose with I50ndble accuracy ai any lime the finanLiJI posiiioTh of the ¢haTiiabl¢ company and io enable Ihem 10 ensure thai ihe fingncial siaiemenis cornply wi¢h the Ci)mpanies ALI ?(M)6. They ar¢ also reS51b1¢ for saf¢guardiTh8 the asseis of Ih¢ ¢hariiable company and h¢th¢¢ for (akin8 reasonable Meps for ihe PT¢v¢ntion and deie¢iion of fraud and other irre8ulariiies. In so far as the Intse$ aware.. there is no relevant audii inforn)*ion of which th¢ charitsble company's auditors ar¢ unaware: and Ihe Irusiee5 have iak¢J) all si¢ps thai Ihey oughi io have tsken 10 make Ihemselves aware of any relevani Judii inl'(ITmuiion arHI 10 establish that the audiiors ar¢ aware of Ihai informaiion. AUDITORS Th¥ dudilcir%. Haines Waits. will be prO5¢d re-apTX)inimeni the (orthcoming Ann[] G¢neral Meeiing. This report h&s been prepared in x¢orde with ihc $FrtI provisions ofPart 15 of th¢ Companies Aci 2(M)6 rel#¢in8 to small Lompanies. Approved by t)rd¢T of ihe IxTrard of Irusiees on 2111 January 2026 aml signe4 on irs behalf by: bell . Tru51ee
REPORT OF THF. INDF.PF.NDF.WT ALIDITORS TO THE MENIBERS OF THL FRIEIYDS OTr HIGHGATE SCHOOL SOCIETI. OpinioD W¢ hav¢ audii¢d Ihe financial 5th1em¢nts of The Frierbds Of Highv31¢ SchiK)I SIKi¢i) (the '¢haritable Company I foT the ¥nd¢(13 l July 2025 whirh co¥npii5¢ lh¢ Siai¢Tn¢lll of FiDaD¥ial A¢iii ilies. lh¢ Balance Sh¢¢i and n()i¢s l() Ihe finanlial staiements. illLluding a summary of signifiLani LOning policies. The finaftcial reponin8 tramework Ihai has been appliLd in ihLir preparaiion Js applicablL law and UThiied Klngdom ACCn11n8 Siathdards. including Financial Reporiing Siandard 104 ThL Financial RenIng Standard applicable in the UK and Republic of Ireland (Uniied Kingdom Generally Accepted Accouniing Praciicel. In our opinion the flnancial slatements: Biv¢ a we and fair view of th¢ sthi¢ of tb¢ charitabl¢ ¢ompany's affairs &s ai 31 July 2025. and of its incoming resources and application of resources. including its income and expenditure. the year then ended: have been properly prepared in xcordance with Unl Kingdom Generally Accepd Accouniing Praciicc: and have been prepared irt acLordance with the requiremertts of the Companies Aci 21X)O. B15 for opinion We conduLied our audii in accordance wilh Iniernaiional Sthndards on Audiiing IUKI IISAS IUKII and applicable law. Our r¢5pI)nsibiliiies uThdeT Ihos¢ siandard5 are funher d¢KrilKd in the Audiior 5 T¢SP0115ibiliii¢5 foT ihr audii of ih¢ rinanLiiil 51al¢m¢n15 S¢Ciion of our rew)rt. We are in(JendeI of ihe charitabl¢ company in a¢¢ordaJL¢ wilh lh¢ ¢ihiLal r¢quirL'mLnis ihai are relevani 10 our audil (if ihe finanLial siai¢m¢nis in Ih¢ UK. in¢11n8 lh¢ FRC'S Eihiial S1Jrtdd. and w¥ hav¢ fulfilled i)ur oih¢r ¢iihi¢al r¢sponsibiliii¢s iTh a¢¢ord8n¢e with ihese Tequirem¢nis. We believe thai Ihe audii LVLdLncL we have obiainLsd is suffkciLni and •ppropriai¢ 10 provide a b&si$ for our opinion. Conclusions re1¥4ting to ¥Oin8 concern In dudiling lh¢ financial slai¢m¢n15. we have ¢onLluded Ihai Ihe tyu$ttts' use of the 8oiri8 ¢on¢¢rn basis of accouniing in Ihe pr¢parJiii)n ()I' lh¢ finaniial siai¢m¢nis is appropnaie. Based on ihe work we h)v¢ perfornwd. we have noi identified any maierial uncertainite5 relaiing 10 events or condiiions Ihai. individually or colleciively. may cam si8nificani doubl on Ihe chariiable rotnpany'5 abiliiy 10 continu¢ as a going oncern for a per1j ol lea51 Iwelve monihs fTom whert the finanrial statem¢nts ¢ authl$¢d for issuc. Our re.%ponsibiliii¢s and the responsibiliiies of the ¢¢5 wilh restrt¢i io going corK¢rn 8Tt d¢rId in Ihe relevathi s¢Liions c)fihis rert. Other inforniatlOD The Iru51LfS are responsible lor Ihe oihL'r informaiion. The her informaiion compTise5 Ihe informaiion included in Ihl Iru51eLs' annual rewn. oiher Ihan ihe financial siaiemcnis and our audiiot 5 rciknrt Iher¢on. Ouropinion on Ihe financial slalctncnis d(t5 noi cover Ihc oiher informaiion and. exc¢pl 10 Ihe eileni oiherwise expli¢iily siat¢d in OUT rekK)rt, w¢ do not ¢xpYss any f(¥m of h55UT#nr¢ ¢onclu5ion theort. In ¢onn¢¢iivn wilh Qui audii of ib¢ finan¢ial statements. our responsibiliiy is io read the other Inlornlion and. in doin¥ so. ci)nsider whether the other infi)maiion is marially inconsisieni with the financial siaiemenis or our knowledg¢ obtained in the audit or oiherwise aparS 10 be maierjally miss(aied. If we ideniify such maierial inLoThsisiencies or apparLni material missiatemenis. we are required io deierniine wheiher there is a ma*rial mi5SLqiemcni in (he financial siaiemcn15 or a material missiaierneni of Ihe oiher informaiion. If. basd on th¢ Work we have rfor[Cd. we conclude thai there is a material missiaiemeni of this other hnfornjaiion. wc are rquired to re1 that fx¢. We have nothing lo report ITh thhs rc8ard-
REPORT OF THE INDF.PENDENT .4LIDITORS TO THE,ME%IBERS OF THE FRIENDS OF HIGHGATE SCHOOL SOCIEn' OpinioD5 on other matter5 preseribed by the Companies Art 2 In our opinioTh. b&8ed on ihe work und¢rtsken in the COUTse of the audii.. the infotmation gLveth in the misi¢es' ren lincowraiing the direciors. reFnI for th¢ financial year for which the finarJcial siatemenis are prepared is Consisteni with rhe financial siaiements.. and lh¢ direciors. repon ha5 been ptepared in accoTdaJ)¢¢ with applicable legal Tequiiymeijis. Matters on which we are required to report by exceplion In ihe lighr of our kw]¢dge and undersianding i)f th¢ charhiable company atkl its enviTonmeni obtsined in the course of Ihe audii, we have nol ideniified material misiamenis in Ihe wte¢s r¢pM lincorwraiing dir¢¢tors' rewil. W¢ hav¢ nothing 10 r¢pori in re5cl of The followin8 mairs in relation io which Ihe Companies Aci 2(X)O require5 U$ 10 r¢pi?rt Iv you If, in our opiThion'. adequate accounting records hav¢ rK)i Ixen k¢0, or rUrnS adequa for our audii have noi been received from branche5 noi vi5iied by us; or thc finanrial $iam¢nis are not in A8men1 wilh the (n[ing rKords ar reiurns: or c¢rtain disLlosures of dircctors. r¢muneraiion specifd by law are not rnk; or we have nol Teceived all the InfOall0 and explan1¢$ wc for our audit . (T lh¢ ITU51¢¢5 w¢rt not eniiiltd 10 prepare lh¢ financial 51aiemeDts in accordance with th¢ 5moll companie5 Tvgim and takc a(IvJniag¢ of th¢ small compani¢s' ¢xcmpiion5 in pr¢panng ihe diTeci(ws and from ihe rLguircmeni io prepare a ¥iroiegiL r¢port. Respo51b11ities of trwte A5 ¢xplaiThcd more fully in ihe Irusiecs resw)nsibiliiies SMent seioui on pa8e4. ihe truslccs (who are a150 Iht direciors of thr iharilabl¢ ¢c?mpdny IOT the PUTtK)s¢s of ¢ompany lawl ar¢ responsible for Ihe prep1110 of the finaniial siai¥m¢nis and li)r king sotisfied thai they giv¢ a tyy¢ and (air view. and for such iThiernal coniri)l #s Ihe trusices d¢i¢Tmine Is n¢Le55ary iv enable Ihc Prcparalion rinaThcial Slements thai are free from mai¢rio1 missiaiemcni. whrih¢r Jue Ili fraud or error. In preparing Ihe fir>aJ)cial siatemLnts. Ihe Irus1¢¢S ar¢ responsible for a$5¢ssin8 ihe Charlb]e coynpany's abiliiy 10 coniinue a5 a going conE¢rn. disclosin8. as appliLabl¢. mairs rel ICF goin8 eoThcern and using th¢ goin8 concern basi5 of ar¢ouniin8 unless Ihe irusite5 Clthcr intend 10 liquidaie Ihe ¢haritsble company OT to ¢¢45¢ operdiions. OT havc no realisiic aliernaiive but 10 do so. Allditor'5 resnsIbIlitieS for ihe audit ofthe fin4n¢ial sthterneDts Our objeciLVC5 arc to obtain reasonable 8ssur#n¢e whether ihc finath¢ia] SlementS as a whole are free from material jS51a¢em¢nl. wheiher due io fraud or error. and 10 i55ue an audit'S rew)n thai inrlud¢5 (?ur opinion. Reasonabl¢ a55uiance 15 a high leiel of &55uranr¢. bu¢ is noi a guaranice thai an audit Conduc in a¢Lr[ln¢t wilh ISA5 IUKI will alway% d¢i¢¢l a material missiai¢m¢ni when IL exi51s. Mi5stsmenis can arise from fr3ud or error and are c(Insider¢d maierJdS if. Individually or in lh¢ aggr¢gate. they could r¢350nably k expecied io irtfluence the economic decisii)nfj of users iaken on the basi5 of Ihes¢ financial sthiemeni5. The exieni to which (w pr(K¢dures are capable of deciing irregulwities. in¢ludin8 fraud. 15 detailed b¢low. We Oblain an undedIn8 of the lega] regulOry fTam¢wcKk applicable to b(h the ¢haTiiy itself and the enlT0Men¢ in which Il uperaiLS. We ideniifi¢d we&s of law5 3Thd reglllaiions ihai could i¢a5onably expecied io have a rnaierial effwt on the fjnancjal 51aM¢n Irom our secior exeThee and ihrough Ji5CU5519n wilh the dire£lor5 and oih¢r management. The mosi significani We iden(ified as Companies Aci 2W6. UK GAAP IFRS1021. ChaJiiit5 Art 2011 and levant tax legislaiion. We Lonsidered the exieni of compliance whth thoK laws and re8U110n5 as part of our PredureS on the lad financia] siaiemenis. OUT audii pr[redUS included-. making cnqutres of Iru51ees and mana8emeni as io where they considei there io be a suscepiibiliiy to f13ud and wheiher Ihey have any knowledge or suspicion of frawl.
REPORT OF THF. INDF.PF.IYDF.NT .4LIDITORS TO THE MEIIBERS OF
THE F'RIENDS Ob. HIGHGA TE SCHOOL SOCIETY
obiaining an undersianding of the inrnaJ controls tsthblished io miiigaie risks relaied io fraud or non-compliance with
laws and T¢gulaiioThs:
- Issessing ihe risk of manag¢m¢Tht override In¢Iling tdeniifying aNI i¢$iing journal eDITi¢S-
challenging Ihe assumpiions and judgernenis made by mana8emeni in its si8nifieani aceouniin8 esiimaies.
Despi1¢ ih¢ audii ]ng planned and conducid in accordance wilh ISAS IUKI Ihere remains an unavoidable risk Ihai
mai¢ii4l yn5551aiemen15 in ihe financial S1¢¢ may noi k d¢i¢cied owing 10 inhereni limiiaiiiins (Il. Ihe audii. and
Ihai by their v¢ry na¢ur¢. any suih Insta.¢$ of flawl ¥)r irr¢gulily likely Involv¢ collusion, fLYgery. Inieniitsrtal
rnisTepresL'niaiions. or th¢ ov¢rride of inierna] ¢ontrols.
A furtherdescripiion ofourresw>nsibiliiies the audiiof the finaneial sthiements is Iatedn the Financial RerM)rting
CounLil'5 websiie ai www.frc.0rg.uklaudii(s[esw51b1lI1les. This descripiion forms pan of our RerK>n of the
Indep¢n4J¢ni Audiiors.
This rL'wrt Is mthle sol¢ly ti) Ihe lhariuhle Lompany's m¢mbers. as a b(xly. in a¢¢ordanL¢ wilh Chtspier l thf PaTI 16 or
Ihe Companies A¢1 2(K)6. Our )ydii work h&s tt¢n undertak¢n so thai w¢ mighi stale 10 the Charlb]e ¢ompJny's m¢mbers
Ihose maiiLrs we are required 10 siaie io them in an audi[('S re[ a1 for no other puwse. To the fullesi exi¢rtl
P¢TrniIILd by law. we do noi accept or &ssume responsibiliiy anyone other than the chantable company and th¢
Lharil
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY STA TENIENT OF FIN.4NCLIL ACTTrITIES IINCORPORA TINC. AN IYCOIIE .4ND EXPENDITURE ACCOUNTI FOR THF. TrEAR ENDED 31ST JLILY 202) 2025 Tothl fund5 2024 Total funds Unrestricted funds R¢Sl¢led lunds NoS INCOIIF, FRO1. 67.79) 61.4(A) 67.799 80.889 129.758 79.505 Inv¢sitnenis 19.429 Totsl income 129.259 19.429 148.688 209,261 EXPENDITURE ON: Invesimeni ynaniig¢m¢rtl costs ChaTiiable iiL¢ivilL¢S 8.888 269.757 11.587 242.()611 25.018 294.775 Tot*l expenditure 278.fA5 28,1K)I 25.1.617 N¢1 881n Iloss¢sl on invesiments 142.8111 111.2881 156.1191 l()0.289 NET DEFICIT 1192,2171 1214.0771 115.4M)5 RECONCILIA TION OF FUNDS Total funds brought forward 1.674.691 9.41.951 2,fA)6.644 2.490.719 TOTAL FUNDS CARRIED FORII'ARD 1.482.474 2.192.567 2.0()6,644 The notes form pan of these financial statements
THE FRIENDS OF HIGHGA TE SCHOOL SOCIETY BALANCE SHEET AT31ST JULY 2025 2025 To1 (und5 2024 Totsl lunds Notes FIXED ASSETS Invesimenis 2.161.710 2,551,692 CURRENT ASSETS Debiors Cash ai bank 12 212,561 147.180 212.561 147.180 CREDITORS Amounis (alling due within one year 1181,724} 194.4281 NET CLIRRENT ASSETS 30.817 52.952 TOTAL ASSETS LLSS CURRENT LIAiIILITIES 2.192.567 2.fA)6.644 NET ASSETS £2.192.567 £2,tAK).644 14 UnT¢siri¢ied funds 1,482,474 1.674.691 R¢s¢ri¢¢¢d fynds Chipp fund Grifllih 714 ?51 175.840 756.111 175.840 9.11.951 TOTAL FUNDS £2.192.567 £2.000.644 The f(*m part o( these financial ststements coniinued...
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY BALANCE SHEET- CONTINUED AT 31ST JULY 2025 These tjnancial 5uiemenis have prepaJed in ¥tordance with Ihe 5pwiaJ provisions of Pan 15 of ihe Compani¢s Aci 2006 relaiing tv small chariiable companie5. The fjnancial siaietnents were approwed by the Board of Tnst¢¢s on 21* January 2026 and were sh8ned on its khalf by: 11-Trnsiee Mr M Mi¢hon-Trusiee The no f(m p1 o( thes¢ financial sthtrrneots 10
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY NOTES TO THE FtNANCIAL STATE%IENTS FOR THE YEAR ENDED31ST JULY 2025 GENERAL INFORMATION The chariiy 15 a pris'aie rojnpany limited by gukrartiee. re8isiered in England and Wales and a regisiered charity in England and Wal¢s. The addTe&s of the regisiered offjce is Highgaie sch[. Nonh Road. Highgaie. London. N64AY. STATEIENT OF COlPLIANcE These financial 51aiements have prepared in ¢omplianc¢ with FRS 102. The Financial ReTM)ning Siandard applicable in the UK and ihe Republic of Irelw)d'. the Ststemertt of Recommended Practice applicable to chariiics preparing Iheir XC(MJnis in accordance wilh the Financial Rewrtin8 Siandard applicable in the UK and Republic of Ireland IFRS 1021 IChaTiIi¢s SORP IFRS 10211 and the ChaTili¢S Aci 901 l. ACCOUNTING POLICIFS The si8nifJcani accouniiThg policies applied in thc Pparall0 of th¢se finan¢ial staiemenis are sei oui below. These policies have been consisienily applied TO all years pr¢s¢t)d urtless otherwise Slad. No judgemenis in applying lh¢ accounting w)licie5 OT key a5sumpiiops aF)yi the fuiyre ar¢ considered io have a 518nificani effect on ihe amounis reLognised in th¢ fInarla1 $¢ai¢m¢Dts. Accounting convention ThL I"JnAnLial siaiLmLnis have been preparcd i)n thc hhsiori¢a] ¢osi basi$. as m(xlifi¢d by ihe r¢valuaiion of Certain rlnancial and liabiliiies and invc51mcTht proF¢rties measured fair v4lu¢ through inwme or expenditure. The financial slaiemenis are pr¢paY¢d in Sl¢Tling. which is the funciiorhal currency of the eniiiy. rounded 10 the nearest povnd. Gotng Concern ThL'rL' arL no maierial uncertainiies reBarding the charity continuin8 a 80in8 ¢on¢ern. ba%d on the Chariiy's biliiy 10 conven its invesimcnis into cash. CAsh now S¢¢em¢nt The financial statements do not include a cash flow as li 15 not r4uired on ihc ¥rounds Ihai Ihe charity is noi ¢onsidL'red lar8e under Charities SORP IFRS 1021. Incoming re50urce5 All incoming re50UTfCS inrludcd in the Siaiemeni of FLnanLial Aciiviiies when Ihe Chariiablc Company 15 legally cniiiled io the income aod Ihe ¥mouni can be quaniified wtth reasonable accuracy. The following specific policies are #ppli¢d 10 pani¢ular ¢oie8ories ol income.. tk)naiions atmj ¢ov¢nanied income are included in ihe accounts when rcceived. tgaLies are included when ihe Charitable Company 15 advised by th¢ onal ¥S¢tatiVe of the esiaie thai a paymeni will madt and Ihe amouni can quaniified. Invesuneni income 15 incIjed when rtteiable. Resourres expended Exptndiiure 15 recogni5¢d when a liabiliiy is iThCUTred. Contractual arran8emenis are recognised as BO(xJs or 5ervice5 are supplid 01 where a tonsinjctiwe obli8aiion aris. ExrKndiiure includes any VAT which cannoi be recovered, and is rep¢&j as part of the eXnditre io which li rela5. Educttiional loans are m*le io applicants iTh lieu of educaiional grants where a loan 15 con5ideted Tnore appToprial¢. They aTe treated as notl-recoverable exndliUTe in ihe year in which they and any 5ub5¢qU¢DI repdymet)ts are included as income in the year in which they are re£eived. C05t ofgenerating funds Costs of generaiing fund5 are tho% costs in¢urr¢d in aitrxiing voluntary irthme.
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY NOTES TO THE FINANCIAL STATEIIENTS- CONTINUED FOR THE YEAR ENDED 31ST JULY 21125 ACCOUNTING POLICIES- t•ntinued Charitable 4rtivxties ChJniJble expendiiure compri5 those Costs iUrred by thc Clwithble Company in the delivery of its aciiviiie5 and s¢rviLes (or lis beneficiaties. li in¢ludes trxith costs thai ¢aD be allatrd dirccdy io such aciiviiies and Ihos¢ costs of an indireci Thaiur¢ necessary io suppon them. Governance costs G()%'ernanie Lcisls in¢lude those costs a5S(Ki¥t¢d with mceiing the COnSiiiuiional and 5181uiory Te4uiremenis of Ihe Cha¥iiable CtsmpaThy and include ihe audii fees arwj coms linked the stra8ic management of Ihe Chariiable Cc)mpany. TgxAtion As a r¢gisiercd chariiy. the Charhthble Company is exempt from ¢i)ryx)raiion tax aj captial gains tax on iThve51meni income and gains and incomc den'v¢d frnm and applied io chan"¢abl¢ ¥ihviiies. Fund •¢eountin8 R¢striii¢d lunds are subjecd 10 resiriciions on iheir exnditUre IMSed by the donor or Ihrou8h Ihe ierms or IhLIT fLYLlPI. RLsiTicied funds include a reva]ualion Teserwe represeniing ih¢ r¢staiemeni of re5fTicied fund invesimeni asse Al mark¢i value. Unre%iricied funds available for usc ai ihe discreiion of the GoverniD8 Council in funh¢Tnce of th¢ genLrdl ohj¢LlivL% c)f Ihe Lhariiy. Unre51riclcd funds InLILMk a ha]U1n reserve represeniing ihe Tesiailmeni Df genLral fund invlsimeni &s5e15 ai markei walue. Desi8naied funds aT¢ unr¢Mried funds thal have be¢D sei lde by ihe Goven)in8 Council lor panicular Purposes. Debior5 TradL oiher d¢biors are recoBnis¢d ai lh¢ seitlement amourti due. l¥epayments are walued ai th¢ amouni pripaid. Creditors CrLJii()r% arc re¢ognis¢d where Ihe charily has a weseni obli8aiion re$uliinB from a p351 event ihal will probably result in lh¢ iransf¢r of lunds io a Ihird party and ihe amouni due io s¢til¢ Ihe dJli8aiion can b¢ measur¢d or e51ifflaied r¢liJhly. Crediiors arc r¢rogn15¢d ai iheir sciil¢m¢ni amouni. Vixed asset investments In<,1mLnI hLld a) liied assets are revalued mid.maTkd value ai ihe balan¢¢ sheet da and ihe gain or1055 taken (o IhL Stsi¢m¢ni of FinanLial Acii%ilies. Th¢ cumulaiive nei revalualion surplus wiihin each fund is ideniified and shown %paraiely from accumulad income. Cash •Nd C&sh e4uivalents Cash Jnd id%h L4ula]enl5 are ch and shm rrn highly liquid in¥e$tments wilh a Short ma¢uriiy of ihreL' monih5 QT less from the da of acquisition ynin8 of th¢ de$bI or similar account. 12
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY NOTES TO THE FINANCIAL STATE%IENTS- CONTINUED FOR THE YEAR ENDED 31ST JULY 2025 DONATIONS 2025 Tothl FuJ)ds 2024 Total Funds Unrestriaed fund5 Restrickd Funds Loan repayments Parental and oiher don1005 58.-309 71.449 67.79) 67.799 67.799 67.799 129.758 INVESTI¥IENT INCONIE 20?5 Toial Funds 2024 To1 Funds Unrestricted Funds Restricted Fund5 Diwide¢Kls from inv¢sim¢nts D¢pc)sii thccouni Inre51 59.629 78.987 I.¢A)2 71 2.185 61.4( 19.429 80.889 79.505 INvEsTlENT MANAGEMENT COSTS 2025 Tothl Fund5 2024 Toial Fund5 Uor¢Mrici¢d Funds Restricted funds Portfolio managemeni 8.888 11,587 CHARITABLE AcfIvITIES COSTS Dire¢t ¢osts To%al$ Education grants LAET granis School grants Governance cos15 Inotc 81 171.¢Jfll 44.250 171.9fKI 44.250 6.912 6.912 294.775 294.775 13
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY NOTES TO THE FINANCIAL ST ATEMENTS- CONTINUED FOR THE YEAR ENDED 31STJULY 202) GOVERNANCE COSTS 2025 Total Funds 2024 Totsl Funds Unre51ricied funds Restricied futlds Accouniancy Administraiive cost Audiiors. remuneration 4.2(M) 14? 2.570 4.2(X) 142 2.570 1.14 6.912 6.912 6,6A4 NET INCOlE Nei income is sthted afier char8in8llcreditill81: 2025 2024 AUdIr$, Tcmuneraiion 2.570 2,600 TRUSTEES, REMUNERATION AND BENEFITS Thcrc were no tyusiees, remuneration or other ben¢fiis for the year endtyj Il$1 July 2025 nor for thc ycar ended 315¢ July 2024. Trustees, expense5 There were no misiecs. expenses paid for the year cnded Ilsi July 2025 or for Ihe year end¢d I Isi July 2024. ii. FIXED ASSET INVESTMENTS inv¢simenis IARKET I'AI,UF. Ai Isi Augu5120?4 Addiiion5 DisP05a15 R¢balualiOnS 2.551,692 110.5?1 1501,7181 1,251 Ai 1151 July 2025 2.361.7.10 NET BOOK VALUE Ai I Isi Julj ?1)•.5 2._161.710 Ai Ilsl July 2024 2.551,692 The market value of inv¢stsnent assets held outside the UK w&s £1.027.Y8112024- £1.224.5921. The total revaluation ieserve ai Ilsi July 2025 included in alKbve amoun*d 10 £454.565 12024-£427,7301. 14
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY NOTES TO THE FINANCIAL STATE%IE+4TS- CONTNJED FOR THE YEAR ENDED 31STJULY 2025 ii. FtXED ASSET INVESTIIENTS- ¢ODtiDutd UDi¢stricted (unds Restricied funds Resiricied funds Grilfi(h Bwuesl Lis(ed investments T(Kai futyjs General fund Chipp Bequest MaTkei value a¢ beglrtning of the year Ac4UISIILons ai ¢osi Disposal cosi ai carryin8 value NLiI unrealised 8ainsiilos5esl on rewaluaiion 1,918.530 21P).926 1192.2821 -3.450 635.162 IIMIJ97 1501.7181 1.251 2.197 Markei value ai end of year ? 161.710 1.7_19.624 022.11)6 Cosi at year eThd 1,907,165 1.170.042 517,121 12. DEBTORS: AMOUNTS FALLIYG DUE WITHIN OliE YEAR 2025 2024 Tax Loans made 10 siud¢nts are expensed as charithble expendiiure in the year in which they are made and subsequeni loan repaymenis are reco8nised as volunthry income in the year in whi¢h they are received. DurinB Ihc ycar 51ud¢ni loans of £Nil were mad¢ io students which. a5 per thc Kcounling policy, were treAied is a non-reLoverabl¢ eXolIre. 13. CREDITORS: ANIOUNTS FALLING DUE WITHIN ONE YF.AR 2025 2024 Hi8h8ait Sch(K)I Oiher CrLdilor5 Accruals 158.481 15.491 20,465 181.724 94,428 14. MOVEMENT IN FUNDS Nei movemeni Transler5 in funds between fund5 Ai 1.8.24 Ai 11.7.25 Unre5tric¢ed funds General fund 1.674.691 192.2171 1.482.474 REstrirted funds Chipp fuDd Grilfith 756.11.1 175.840 (21.8ti) 714.251 175.840 911.951 21,8EAII 910.093 TOTAL FUNDS 2.fAK).tl4 1214.0771 2,392.567 15
THE FRIENDS OF HIGHGATE SCHOOL SOCIETY NOTES TO THE FINANCIAL STA TEIIENTS- CONTINUED FOR THE I'EAR ENDED 31STJULI' 20L 14. IOI'EMENT IN FLlTrqDS- continued Prior year'.- At 1.8.2_1 Nei movemetLI Tiansf¢r in funds beiween funds Ai 11.7.24 Unrestricted funds General fuNI 1.588.179 86J12 1.674.691 Restricted Chipp t.und 726.720 175.840 29.39.1 756.111 175.840 2.5( 29.191 911,951 TOTAL FUNDS 2.4,779 I l5.(X)5 2.(J(16.644 15. CONTINGENT LIABILITIES Th¢r¢ wer¢ no known coniinBelll liabiliiiLS ai rhe balanie shL&l dale. 16. STATUS. MEMBERSGUARANTEE LIABILITILS AND CONTROL The Friends of Highgaie Sch(x>l S(Kicly is a Company incorpora in Engl8nd. limited by guaraniee and has no shar¢ ¢#pitsl. Ii is a re8isred charity Inumb¢r 10366241. Each member 15 liable io Contribu yp 10 £ l under guaraniee liabiliiy. The Charilablc Compdny is wnsidercd to be under ihe colkctive contyol of ihe direeiors. all of whom aci in a 51eward4hip rapa¢iiy. 17. E E CHIPP AND C C GRIFFrrH BEQUESTS The Incume 8eneraied Irom the rc5th¢ted eapiLg1 fund5 of the Chipp and GTirriih BLquests can ()nly applied by the Chariiable Company 10 05515L siudenis in thc Costs of their educaiion ai Highg01e sch1. The ierrn5 Ot. the Chipp BLquc51 re51rirl assistanLe 10 ih05c ca5¢$ where without such finan¢ial assisthnce edueaiion could no¢ commence. Acrumulatd unspent income in the Funds is= Chipp Grifflth At beginnitL8 of year MovLmeni in year .877 18.572 Ai end of year 82.105 16
THE FRIENDS OF HIGHGATE SCH(K)L SOCIETY NOTES TO THE FINANCIAL STATEIENTs- CONTINUED FOR THE YEAR ENDED 31ST JULY 2025 18. ANALSYSIS OF NET ASSETS BETW'EETri FUNDS Unre51ricied Resiticied Tot*1 Funds Funds Funds 2U25 Inv¢siTnen Curreni &sseis CTedii(kT5 less Iharb l year .7.19.624 75,6761 1181,4741 6?2.106 ?88,?A7 12501 2.361,7aO 212,561 1181.7241 Nei assets 1.482.474 2.192.567 19. RELA TED PARTY TRANSACTIONS Deiails of related party transaciions art Sei oui in the Trusitts. Report. 17