Company Registration No. 3411518 (England and Wales)
Charity registration No: 1063738
SINCE 1920
4J< IMPENDERB
St John's School, Northwood
(A company limited by guarantee and not having a share capital)
Report and financial statements
For the year ended 31" August 2024

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Contents
Pages
Governors and company information
Governors, report
3-12
Independent auditors, report
13-16
Statement of financial activities
17
Balance sheet
18
Statement of cash flows
19
Accounting policie5
20-23
Notes to the accounts
24-35

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors and company Informatlon
Governors
Mr J C Fowler (Chair)
The Governors ofSt John's School
Mr P Burdin (appointed 7 Feb 20231
are directors of the Charitable Company Mrs L Cavanagh
and trustees of the Charity.
Mr S Everson
Mrs E K Fenwick
Mr P R MacDougall
Mrs M Murphy O'conner {appointed 7 Feb 2023)
MrMANeil
Mr R A D Sullivan
Mrs N Walker
Mr W R Wallace
th
Head
Mr T Jenkin
Bursar
Mrs C Demetriades {appointed l February 20231
Company secretary
Mrs C Demetriades (appointed l February 2D231
Registered office
Potter Street Hill
Northwood
Middlesex
HA6 3QY
Reglstered numbers
Company registration number: 3411518
Charity registration number: 1063738
Auditors
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Bankers
Barclays Bank PIC
62-64 High Street
Watford
Hertfordshire
W017 28T
Solicitors
Veale Wasbrough Vizards LLP
Narrow Quay House
Bristol
BSI 4QA
Page I

5t John's School Northwood
(A company limited by guarantee and not having a share capltal)
Governors and company information (continued)
Insurance brokers
Marsh Limited
Capital House
1-5 Perrymount Road
Haywards Heath
West Sussex
RH16 3SY
Investment fund manager
Rathbone Brothers PIC
8 Finsbury Circus
London
EC2M 7AZ
Page 2

St John's School Northwood
(A company limlted by guarantee and not having a share capltal)
Governors. report
The Governors of St John's School present their annual report and audited financial statements of the
Charity for the year ended 31 August 2024. The financial statements comply with the Companies Act 2006,
Charitie5 Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 102),
The Strategic Report comprises the risk management, charitable objects, review of achievements and
performance for the year and the reserves policy on pages 3 to 12.
Reference and administrative information
St John's School was founded in 1920, purchased by the Merchant Taylor5, Company in 1984 and was
registered as a charity under the umbrella of the Merchant Taylors, Educational Trust charity number
310018.
On l August 1997 the School wa5 incorporated as a private company limited by guarantee and was
registered as a charity in its own right. The School took over the business and assets and liabilities of St
John's School, Northwood from the unincorporated body on I. August 1997 and commenced bu5ine55 in
its own right from that date.
Structure, governance and management
Governing document
th
St John's School is governed by its revised Articles of Association dated 9 May 2024.
Recruitment and training of Governors
The Board of Governors shall consist of not less than six but (unless otherwise determined by Ordinary
Resolution of the Company) no more than twenty persons appointed from time to time by Ordinary
Resolution of the Company or by notice in writing to the Company signed by a majority of the Members of
the Company. All new governors are given a copy of the Articles of Association, a tour of the School and a
Trustees, induction pack outlining trustees, responsibilities. All Governors have also been provided with a
handbook - "Governors, Guidelines" obtained from the A550ciation of Governing Bodies of Independent
Schools {AGBISI. Specific training is also provided by the Merchant Taylors, Educational Trust.
Organisational Management
The St John's School Governors, as trustees of the Charity, are legally responsible for the overall conduct
and control of the School. The work of monitoring financial performance 15 carried out by members of the
Finance & General Purposes Sub Committee, who meet three times a year where the audited accounts are
reviewed priorto being approved by the Governors. The Finance & General Purposes Sub Committee works
under the chairmanship of Mr P Burdin. The day-to-day management of the School is delegated to the
Headmaster, assisted by the Bursar and the full Senior Leadership Team. The Senior Leadership Team
comprises the positions of.. Headmaster. Bursar, Deputy Heads (Pastoral and Academic}, and Lower school
Head.
Group Structure and relationshlps
The Merchant Taylors, Company, a City of London Livery Company, is the landlord of the property from
which St John's School operates. The Company has a number of charities that it supports including the
Merchant Taylors, Educational Trust IMTET}.
Page 3

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued)
The Trustees of MTET are the members of St John's School Northwood and have certain rights under
company law, including the right to appoint and dismiss the governing body. It IS therefore deemed to be
the controlling party and produces consolidated financial statements, including the results of this school
and other entities which it controls. The School operates independently of the Trust and the Company but
continues to enjoy their support
St John's School Northwood was connected through common interests and 'outsourced' administration
and payroll services to Merchant Taylors, School during the year until 31, December 2023. Merchant
Taylors, School are a company limited by guarantee and a separate registered charity. The Merchant
Taylors, School charity can be contacted at Sandy lodge, Northwood, Middlesex, HA6 2HT.
Risk Management
A Governance, Risk and Renumeration Sub Committee, chaired by the Chair of Governors, meets termly to
review the Risk Register and allocate responsibilities. The measurement of a risk is undertaken by
Ca Iculating a Risk Factor derived from Ilkelihood of the risk occurring and its likely impact. The School has
developed systems to monitor and control these risks and to mitigate any impact that they may have on
the School's future.
The Risk Register has been an area of focus for the year and the school is embedding a new Risk Register
which enables greater focu5 on the most significant risks and the monitoring and mitigation of these risks.
The Governance, Risk and Renumeration Sub Committee meets termly to provide a focused forum for the
review of these risks. During the year the governors have focused on key risks including the Teachers
Pensions employer contribution increase and the risk of VAT or other tax on School fees. A Strategy day
and additional board meetings have been held to focus on mitigation of these risks.
Key controls used by the School include:
form31 agendas and minutes recorded for all Sub Committee and Board meetings
comprehensive planning, budgeting and management accountlng
monitoring of cash-flow
formal written pol icies
obtaining independent advice from appropriate industry experts in relation to identified areas of risk
A Governance structure 15 in place and reviewed regularly with the Chairman of Governors, This structure
involves Governors in specific areas of the School's governance.
Charitable objects
The Charity'5 Objects, as set out in it5 Articles of Association, are to 'advance education by providing and
maintaining in the UK or elsewhere a boarding or day school or schools for the education of children or
young persons,.
In planning School activities for the year to meet St John's charitable objectives, the Governors have
complied with their duties in Section 4 of the Charities Act 2011 and have considered the Charity
Commission's general guidance on public benefit,
Page 4

st John's School Northwood
{A company limited by guarantee and not having a share capital)
Governors, report Icontinued)
Aims and intended impact
The St John's School's aim is to benefit the public by providing a first-class education independent of the
State system. St John's provides this education in a civilised environment and values breadth of
achievement as much as success at the highest level.
Of greatest importance is that boys grow to be independent and free-thinking member5 of a diverse
community and that, as they progress through the School, they develop confidence, the essential skills for
life at senior school and a set of positive and morally secure values that will provide a base from which to
meet the challenges of a changing world.
St John's intends that pupils at the School are happy, considerate of the needs of others and feel that they
are recognised as important and unique members of an exceptional organisation. St John's provides an
environment where each pupil can develop and fulfil his potential. Pupils are sUPPOrted and encouraged,
through the provision of the highest quality of academic tuition, involvement in a wide-ranging sports,
musical and co-curricular programme, and the development of their artistic and social ski115 to meet this
objective.
St John's welcomes pupils from all backgrounds and admittance is based on an assessment of whether the
School will be able to educate and develop a pupil to the best of his potential and to a standard similar to
that of his peers. An individual's economic status, ethnicity, race, religion or disability does not form part
of the assessment process.
Objectives for the 2023-2024 Year
In the financial year under review the focus has been..
To further refine and develop the quality of teaching and learning across the School.
To review and further develop co-curricular and other learning opportunities for pupils, ensuring a
diverse and interesting range of options are planned and that resources and staff talents are used
eff iciently.
To continue to drive forward initiative5 which commenced last year in Sustainability, Wellbeing, and
Digital Learning.
To establish the newly-appointed middle leadership roles and ensure future recruitment of excellent
teachers and support staff lincluding in Marketing and Admissions and Accounts).
To ensure the cost-effective financial operation of all aspects of the School, particularly in regards to
staffing costs.
Objectlves for the forthcoming year12024- 2025)
To continue our focus on excellent pastoral care and pupil lead initiatives.
Build on curriculum changes, reporting changes and other structural change5 over the last 12 months
as we transition towards a school for pupils from Nursery to year 6.
To extend and develop the quality of teaching and learning across the School with a key focus on Il+
preparation,
Further refine and develop the programme of Continuous Professional Development for all staff.
Respond dynamically to market forces. Identifying steps to mitigate the potential impact of the
imposition of VAT on pupil numbers.
Page 5

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued)
To build on the extensive co-curricular programme and outdoor learning opportunities for pupils,
ensuring a diverse and interestin8 range of options continue to be delivered.
Strategies to achleve forthcoming yearfs ob5ectives12024- 2025}
St John's strategy aims to achieve the highest academic standards, and cultivate the well-rounded
development of all children. In order to further improve the quality of teaching and learning, the School will
continue to refine the curriculum and our broader educational provision for children to optimise the School
for Il+ preparation. We will establish a new Digital Technology framework for teaching and learning, and
staff development, throughout the School. Senior leaders and staff have developed details, timescales and
approaches to evaluation forall aspects of the Educational Development Plan, as relevant to their own areas
of teaching a nd responsibility.
As we move towards 3 11+ model we will further refine our provision for children's Independent learning,
entrepreneurial and financial education and outdoor education. We will establish leadership positions and
responsibility opportunities for Year 6 boys, and will continue to develop additional recognition for
children'5 progress, character and engagement.
Pupil and staff wellbeing will continue to be a priority for St John's. We will pilot enhanced opportunities
for 'pupil voice. and will further develop our pupil mentoring programme. Additional opportunities for
recognition for children's progress, character and engagement will be developed. Systems to further
5UPPOrt children's wellbeing have also been identified and will be introduced during the course cf the year
including piloting age-appropriate systems to {further} monitor children's wellbeing alongside a renewed
focus on all kinds of bullying. We will continueto develop pastoral skills across the School staff through our
extensive Inset programme.
Principal actlvities in the year
The Compan(5 principal activity during the year was that of an independent prepar3tory school for boys.
The maximum permitted number of pupi15 continues to be 350.
Review of achlevements and performance for the year
2023-4 was an outstanding year for our pupils, exemplified by impressive performances in transfer exams
to a wide variety of senior schools, both in the independent and maintained sector. All1281 of our Year 8
boys were offered places at excellent schools, with the overwhelming majority gaining entry to their fir5t-
choice option.
Following the decision that Stjohn's would be transitioning to an Il+ model, a greater than normal number
of children in Year 6 elected to take up offers of Year 7 Starts at senior schools, with 18 children securing
places for September 2024.
Children were awarded a range of Academic (6>, All-rounder. Sportin& Musical and DTE scholarships (101,
with a total of 16 awards being offered.
Across all year groups, Merchant Taylors, continues to be the destination of choice, with 18 children taking
up places here. Haberdashers, was also a popular destination17), as was Berkhamsted15} and St Margaret's
Pa8e 6

St John'5 School Northwood
(A company Ilmited by guarantee and not having a share capital)
Govemors, report {contlnued)
{51. Children also gained entry to St Paul's (l), City of London (11, Highgate (l), St Columba's111, Aldenham
121, St Albans (21, St George's Harpenden (l), The Purcell School {1), Bruern Abbey {11, Chesham Grammar
{21, Dr Challoner's (l}, Haydon (l), and Queen Elizabeth's Boys (l).
These exceptional outcomes demonstrate the high academic achievements of the boys, and the excellent
quality of teaching and individualised support offered by the School. Congratulation5 to all boys, parents,
and staff on these outstanding results and on a very full year of learning and development at St John's.
Other achievements and notable events at St John's
We have been able to celebrate remarkable achievements at St, John's, reflecting on the diverse
opportunities and experiences that have shaped our boys into confident, capable individuals.
Over the last year, St. John's has expanded opportunities for students to connect with the environment.
Outdoor education ranges from learning in woodland areas foryounger students, who have planted flowers
and observe birds hatching egg5 via webcams, to older students developing bushcraft skills, participating in
teamwork challenges, and embarking on adventures in various locations around the UK. In the Sprin& 50
boys enjoyed a fantastic skiing trip to Austria - the first since Covid- which inspired children to embrace
new challenges and enjoy camaraderie on the slopes,
Sustainability has also been a key focus at Stjohn's, building on the accolade of lastyear's Green Flag award.
Our Eco Council led initiatives like'switch Off Fortnight,, and our beekeepers demonstrated their approach
to maintaining vital insects. Spring saw younger students and parents collect several tons of litter from our
local area. St John's has also conducted an environmental education audit which will guide future
sustainability in itiatives.
Children's characters and self-confidence develop both in and outside of the classroom. We have been
delighted to see the enjoyment the boys have had from a much-enhanced extra-curricular attivities
programme this year. Students engage in early morning tennis, coding, debating, creative writing and
cooking, amongst a range of other musical and sporting activities. Our qutz team won the Merchant Taylors,
Company Quiz. Chess remalns popular, with over 50 boys receiving weekly coaching. Our U9 team
triumphed in the National Schools chess competition In London - a fantastic achievementl
Science, technology. and engineering visits have included learning about the Williams Fl team, the HS2
project, and HMS Glasgow's construction. Boy5 excelled in inter-school STEM challenges, and activities like
1940s Day and forensic science workshops provided fun, engaging learnin8 experiences.
Sports at St. John's has also thrived this year, blending inclusive learning and elite performance. Football
season showcased passion and improvement, and cricket saw strong performances land some agonising
defeats) despite rain disruptions. Our U13 rugby 7$ team won the plate competition at Caldicott and
triumphed at the Westbrook Hay tournament, and our senior hockey team won the Merchant Taylors,
Strikers, Cup. Other sports Ilke golf, cross<ountry, badminton, fencing, basketball, table tenni5, and 5-a-
side football provided varied experiences for the boys. Summer athletics saw School records fall and strong
performances at local competitions, with two boys reaching the National Athletics Finals, one of whom
finished an impresslve third in the longjump.
Performing arts at St. John's has also continued to flourish, with numerous musical concerts serenadin8
parents and guests. Performances in London, at Merchant Taylors School, or in the Young Voices concert at
Wembley were large scale reminders of the effort and daily practice of so many musicians at St John's.
Page 7

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued)
In drama. from Pre-Prep Nativities to Junior'jungle Book, to the senior production of 'Macbeth', our boys
showed their outstanding dramatic talent and dedication.
Older boys readily embrace independent learnin8 through extended research projects on diverse topics,
includingjapanese Manga and the evolution of pop music. The quality of work was impressive, and students
took pride in their projects, researching and presenting confidently.
Over the summer holiday period we have been able to carry out a significant upgrading of facilities and
outdoor spaces for our youngest children in the Nursery and Pre-prep areas, With the change of the School
to an Il+ model it is increasingly important that we have been able to accommodate a larger number of
these pupils in a high quality facility and continues the work done in Summer2023, The work to modernise
and refresh classrooms, whilst now allocating more of these rooms to younger children and fewer to the
diminishing number of older children, is clearly an important move and has been done with great skill and
thoughtful planning.
We have also been able to carry out a major reorganisation of the way in which all visitors, from prospective
parents and staff to delivery driver5 arrive in the School. By securing the inner area of school for pupils onlv
and directing visitors to a new reception area on the East end of the White House we are very much
improving both the security of the site and the impression that is given.
During the year ended 31st August 2024, the School's income from gross fees increased to £5,886,405
{2023: £5,634,853}. Total income increasing to £6.213,722 12023: £5,807,438}. Total expenditure was
£5,889,912 {2023.. £5,663,691) and the School's operating surplus Inet incoming ￿SOurceS before
investments) amounted to £333,81012023: £143,747).
The School holds investments which are reviewed annually by the Finance & General Purposes Sub
Committee. The performance of these investments has broadly been in line with the benchmarks approved
by the Finance and General Purposes Sub Committee. It should also be noted that dividends are reinvested
back into each portfolio.
The investment policy and strategy agreed by the Governors is for a combination of capital growth and
income with elements of both a low and medium risk profile acros5 the portfolios. There are three separate
and unrestricted investment portfolios which have been established to contribute towards the School's
capital expenditure projects and fund bursarie5.
During the year the School awarded bursaries and discounts to the value of £65,61112023: £49,008).
Access policy
It is important that the pupils of the school benefit from interacting and learning with a diverse range of
people. Access to the education and facilities on offer should not be restricted to the children of parents
who can afford the fees.
St John's wants to be viewed as part of a wider community and the School believe that it is important for
pupil development to actively participate within the community where they can do so without detriment
to their education.
Bursarles and Scholar5hFP policies
St John's School does not benefit from any endowment funding and pays a commercial rent for its property.
It does not hold the freehold of any land. In reviewing bursary requests, it must therefore ensure a balance
Page 8

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued}
between the interests of the fee paying parents, many of whom make considerable personal sacrifices to
fund their boys, education and those benefiting from the awards.
Bursary award5 are available to those who meet the general entry requirements and are made solely on the
basis of parental means or to relieve hardship where a pupil's education and future prospects would
otherwise be at risk. Discounts are provided to parents who have more than two children at the School and
to staff members who choose to educate their children at St John's.
Links with local state schools
Hillside School held their Sports Days on the 5t John's athletic track with 200 children and staff attending
and support provided by our senior boys and grounds team. St John's hosted the Design and Technology
Competition for Year 5. Primary School children joined with local Independent Schools to take part in a
morning of teamwork, collaboration and challenge. Primary School children took part in the Kwik Cricket
and TaE Rugby Festivals for Year 4.
Due to planning conditions imposed on the School, the use of the school's facilities by outside bodies is
restricted. However, St John's continues to develop further links with local state primary schools, and has
made ava ilable the following facilities free of charge:
Centenary Sports Hall
Artificial turf pitch
Cricket and rugby grounds
All weather cricket nets
Nature trail
ICT Suite
Grass athletics track
Assembly Hall for performing arts
Three-hole golf course
The School has an ongoing arrangement with Gala Academy who are affiliated and supported by
Badminton England and provide a wide range of community access to our Sports Hall via their Badminton
and Yoga Academy. Sessions are held each evening and over the weekend which exceeds the
requirements of the Community Use agreement with the London Borou8h of Hillingdon.
The School maintains an area of land that is 'protected' by the London Borough of Hillingdon ILBHI, The
conservation report commissioned in 2015 identified particular areas of interest.
Other charitable activities
The Trustees take their responsibilities under the Charities (Protection and Social Investment) Act 2016
sersously and have considered the implications on their fundraising activities. The charity does not raise
funds directly from the general public and does not actively solicit donations. The funds raised are via
donations made by Parents, Staff and l or theStJohn's Association {PTA}. The charity does not work directly
with commercial Sponsors. The Trustees have no recorded complaints in respect of fundraising during the
year.
We are pleased to announce our annual charity report for St John's School for Year 2023/24. This report
showcases the remarkable efforts of our students. staff, and community in 5UPPOrting various charitable
causes. Through fundraising events and volunteer activities we have made a meaningful impact on those
Page 9

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued)
in need. This year, our school has 5UPPOrted a range of causes, from the locally known Moor Park Fun Run
to more national causes such as Comic Relief.
Our main charity fundraising focus has been for Save the Children, as chosen by the pupils in Churchill
house. The organisation helps to raise money to improve children's lives by creating better educational
opporturtities, better health ca￿, and improved economic opportunities. Through collections at events
such as Arts Evening, Junior and Senior Drama, a contribution from the SJA and a Substantial amount
(£1718.91) from the Business Enterprise Course organised by Year 8 boys, the school ha5 donated a total
of £2,980.49
There may be further donations from the SJA from tuck shop5 and the Summer Fun Day. This IS to be
confirmed.
Other fundraising events have raised the following amounts:
Jeans for Genes IPre- Prep and Junior51
£ 340.00
Moor Park FunRun
£ 1,041.00
Macmillan Coffee Morning
£ 345.00
Harvest Festival cash donations for City Harvest
31.00
Breast Cancer Now15taffl
£ 110.00
Royal British Legion
£ 681.11
Christmas JumpeT Day- Save the Children
£ 236.00
Comic Relief
£ 447.35
Schools Triathlon (Restless Development)
£ 8,809.98
The total of these other charitable donations is
£12,041.44
Grand Total: £15,021.93
In addition, 426 kg of food was collected and donated to City Harvest equating to 1013 meals.
We are thankful to our school community for the contributions they make, improving the lives of others.
In the forthcofning year, 2024/25 we look forward to fundraising for City Harvest, as chosen by Lawrence
House.
Pay and Remuneration
The Governance, Risk and Remuneration Sub Committee chaired by the Chair of Governor5 is responsible
for agreeing pay for the school's Senior Leadership Team, The finance committee makes recommendation
to the full board on Teaching and Support staff renumeration. In setting remuneration levels, the Board
takes into account what the School can afford - based on its most recent financial projections- as well a5
national pay levels and local market conditions.
Page 10

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued)
Reserves poli
Substantially all of the funds available to the School are unrestricted. The School's reserves policy 15 to
maintain sufficient unrestricted reserves to respond to unforeseen events and cover up to three months,
non-discretionary expenditure (estimated to be approximately £1,300,000}. On 31 August 2024 free
reserves were £4,219,08912023.' £3,832,606) of this £943,881 are designated funds that the school could
draw on if required, This policy continues to be monitored by the Finance and General Purposes Sub
Committee and reviewed annually by the Governors. Future capital expenditure development plan5 will
be funded by 3 Cotnbination of cash flow, and investments.
Note 13 to the Financial Statements sets out an analysis of the assets attributable to the various funds. The
School has restricted funds relating to restricted donations received and a designated fund in relation to
amounts received for bursaries. The Governors have considered the Charity Commission definition of free
reserves. They have concluded that the designated bursary fund and investment balance Should both form
part of the free reseNes as they could be drawn on at any time to support the operations of the School.
Disability statement
It continues to be the School's policy to give full and fair consideration to disabled persons applying for
employment, having full regard to their particular aptitudes and abilitie5. Full and fair consideration will be
given to the continuing employment and appropriate training of persons who become disabled. The School
provides equal opportunities to all staff on the basis of objective criteria and personal merit.
Trustees, responsibilities
The Governors of the School who are directors of the Company and trustees of the charity are responsible
for preparing the Trustees, Report and the financial statenients in accordance with applicable law and
United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fairview of the state of affairs of the charitable company and of the incoming resources and application
of resources, including the income and expenditure, of the charity for that period. In preparing these
financial statement5, the trustees are required to:
select svitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy
at any time the financial position of the charitable Company and enable them to ensure that the financial
statements comply with the Companies Act 2006, They are also responsible for safeguarding the assets of
the charitable Company and the group and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
In the case of each of the persons who are directors at the time when this report is approved, the following
applies:
Page 11

St John's School Northwood
(A company limited by guarantee and not having a share capital)
Governors, report (continued)
so far as the director is aware, there is no relevant audit information of whlch the Company's
auditors are unaware, and
he or she has taken all the steps that he ought to have taken as a director in order to make
himself or herself aware of any relevant audit information and to establish that the Companls
auditors are aware of that information.
Auditors
Saffery LLP have signified their willin8ness to continue in office.
By order of the Board
owler
air
Date:
Page 12

St John'5 School, Northwood
(A company limited by guarantee and not having a share capital)
Independent auditors, report to the members
For the year ended 31" August 2024
Opinion
We have audited the financial statements of St John's khool, Northwood for the year ended 31 August
2024 which comprise the statement of financial activities, balance sheet and statement of cash flows and
notes to the financial statements, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the
UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the charitable companvs state of affairs as at 31 August 2024 and of its
incoming resources and application of resources, including it5 income and expenditure, forthe year
then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statement5 is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, individu311y or collectively, may cast significant doubt on the charitable company's ability
to continue as a going concern for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information
included in the annual report, other than the financial statements and our auditor's report thereon. Our
opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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St John'5 School, Northwood
(A company limited by guarantee and not havlng a share capital)
Independent auditors, report to the members
For the year ended 31st August 2024
Our responsibility is to read the other information and, in doingso, consider whether the other information
is materially inconsistent with the financial statements orour knowledge obtained in the course of the audit
or otherwise appears to be materially misstated. If we identify such material inconsistencie5 or apparent
material misstatements, we are required to determine whether thi5 gives rise to a material misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there
is a material misstatement of this other information we are required to report that fact.
We have nothingto report in this regard.
Other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit.,
the information given in the Governors, Report which represents the Trustees, Annual Report and
which includes the Dlrectors, report and the Strategic Report for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
the Trustees, Annual Report which includes the Directors, Report and the strategic Report has been
prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained
in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report
and Strategic Report.
We have nothing to report in respect of the followinE matters where the Companies Act 2006 require us to
report to you if, in our opinion:
adequate accounting records have not been kept, or return5 adequate for our audit have not been
received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns- or
certain disc105ures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Tru5tee5' Responsibilities Statement set out on page 11, the trustees (who
are also directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for
such internal control as the trustees determine ts necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
Page 14

stjohn's School, Northwood
(A company limited by guarantee and not having a share capital)
Independent auditors, report to the members
st
For the year ended 31 August 2024
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with
regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that
includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit
conducted in accordance with ISA5 (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatement5 in respect of
irregularities, including fraud. The specific procedures for this engagement and the extent to which these
are capable of detecting irregula rities, including fraud are detailed below.
Identifying a nd assessing risks related to irregularities:
We assessed the susceptibility of the charitable compan￿5 financial statements to material mi55tatement
and how fraud might occur, including through discussions with management, discussions within our audit
team planning meeting, updating our record of internal controls and ensuring these controls operated as
intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial
statements. We identified laws and regulation5 that are of significance in the context of the charitable
company by discussions with management and trustees and updating our understanding of the sector in
which the charitable company operates.
Laws and regulations of dirett significance in the context of the charitable company include The Cornpanie5
Act 2006, and guidance issued by the Charity Commission for England and Wale5.
Further the charitable company is subject to other laws and regulations where the consequences of non-
compliance could have a material effect on amounts or disclosures in the financial statements, through
significant fine, litigation or restrictions on the charita ble compa ny's operations. We identified the most
significant laws and regulations to be the Independent School Standards as found in the Education and Skills
Act 2008 and guidance issued by the Department for Education.
Audit response to risks identified,,
We considered the extent of compliance with these laws and regulations as part of our audit procedures on
the related financial statement items including a review of financial statement disclosure5. We reviewed
the charitable company's records of breaches of laws and regulations, minutes of meetings and
correspondence with relevant authorities to identify potential material misstatements arising. We
discussed the charitable company's policies and procedures for compliance with laws and regulations with
members of management responsible for compliance.
Page 15

St John's School, Northwood
(A company limfted by guarantee and not having a share capital)
Independent auditors. report to the members
st
For the year ended 31 August 2024
During the planning meeting with the audit team, the engagement partner drew attention to the key areas
which might involve non-compliance with laws and regulations or fraud. We enquired of management
whether they were aware of any instances of non<ompliance with laws and regulations or knowledge of
any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of
controls by testing the appropriateness of journal entries and identifying any significant transactions that
were unusual or outside the normal course of business. We assessed whetherjudgements made in making
accounting estirnates gave rise to a possible indication of management bias. At the completion stage of the
audit, the engagement partnerfs review included ensuring that the team had approached their work with
appropriate professional scepticism and thus the capacity to identify non-compliance with laws and
regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become awa￿ of It. A150, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through
collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
www.frc.or
auditorsres
onsibilities. This description forms part of our auditorfs report.
Use of our report
Thls report is made solely to the charitable companrfs members, as a body, in accordance with Chapter 3
of Part 16 of the Companies Act 2006. Our audit work has been undertaken 50 that we might state to the
charitable company's members those matters we are required to state to them in an auditor's report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitable company's members as a body, for our audit
work, for this report, or for the opinions we have formed.
Cara Turtington (Senior St
utory Auditor}
for and on behalf of Saffery LLP
Statutory Auditor5
71 Queen Victoria Street
London
EC4V 4BE
. 11 ria, lols
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Page 16

St John's School, Northwood
(A company limlted by guarantee and not having a share ¢apltal}
Statement of financial actlvlties
St
For the year ended 31 August 2024
ljnrestrfcted
funds
Restricted
funds
2024
Total
funds
2023
Total
funds
Notes
Income from
Charitable attivitles
Sthool fees rèotvable
Registration/fees insurance dlscount
5,783.287
14,509
5,783,287
14.509
5.551,487
10,578
Other tradlng activities
Other ancillary income- rentsllettings
Other ancillary income
3b
3b
47.392
118,256
47,392
118,256
32,479
39,849
Interest receivable
Investments
142,522
93,206
142,522
93,206
29,625
93,565
Donatlons
Donations from MT Companv
10.000
4,550
io,¢y)o
20,000
4,550
25,0
24,855
3d
Total Income
6.213.722
10.000
6,223,722
5,807,438
ExpÈnditure on
Raisin8 funds
Bank Interest
Investment management
18,139
11,213
18.139
11,213
2,537
10,445
29,352
29.352
12,982
Charltable activities
Sthool and grant-making
Loss of Sale of A#sets
5,860.560
5,860.560
5.548,832
101,877
Totsl expendlture
5,889,912
5,889,912
5,663,691
Net income before investment$
323,810
10,000
333,810
143,747
ILossl18aln on Investments
241,578
241.578
1126,2991
Net incomelexpenditure
565,388
iO,IKJO
575,388
17,448
Transfer between funds
10,000
iio,&)01
Net movement In funds
575,388
575,388
17,448
Fund balanos at I September 2023
7,895,193
7,895,198
7,877,750
Fund balances at 31 Au8USt 2024
8,470,586
8,470,586
7,895.198
The notes on pa8es 20 to 35 form part of these financial ststements.
All of the School's actÉvities are contlnillng. There were no recognised gains and losses In the year other than the reported above.
Page 17

St John's School {Northwoodl Limited
(A company limited by guarantee and not having a share capital)
Balance sheet
As at 31" August 2024
2024
2023
Notes
Fixed assets
Investments
Tangible fixed assets
2,836.359
4,251,497
2,S12,789
4,062,592
7,087,856
6,575,381
Current assets
Stocks
Debtors
Cash
8,279
129,259
2,961,836
7,905
47,473
2,123,384
10
3,099,374
2,178,762
Creditors.. due wlthln one
Year
li
1,091,157
736,145
Net current assets
2,008,217
1,442,617
Total assets les5 current
liabilities
9,096,073
8,017,998
Creditors: due after more
than one year
12
625,487
122,800
Total net assets
14
8,470,586
7.895,198
Restricted funds
14a
Unrestricted funds
Designated and general
funds
14b
8,470,586
7,895,198
Total funds
14
8,470,586
7,895,198
Approved by the Governors and signed on their behalf by
J C Fowler
Chair
Company R
ration No. 3411518
The notes on pages 20 to 35 form part of these financlal statements.
Page 18

St John's School {Northwood) Limlted
(A company lirnited byguarantee and not having a share capital)
Statement of cash flows
For the year ended 31" August 2024
2024
2023
Notes
Net cash flows from
operating activities..
Is
964,792
779,597
Cash flows frorn investing
activities:
Investment income
Purchase of property, plant
and equipment
Proceed5 from sale of
investments
Purchase of investments
93,206
118,420
1609,577)
538,436
{308,6161
317,540
{677,7071
(381,700)
Net cash used in investing
activities
1655,642)
(254,356}
Cash flow5 from financlng
actlvities
Movement in final deposits
Movement in fees in advance
16,800
485,887
(3,6001
Net cash (out)/ln flnancing
actlvities
502,687
(3,6001
Change in cash and cash
equivalents in the reporting
period
811,837
521,641
Cash and cash equivalents b/f
Cash and cash equivalents at
31 August
16
2,187,372
1,665,731
16
2,999,209
2,187,372
The notes on pages 20 to 35 form part of these financtal ststements.
Pa8e 19

St John's School (Northwood) Limited
(A company limlted by guarantee and not havlng a share capltal)
Accounting policies
For the year ended 31 August 2024
st
Basis of accounting
The account5 have been prepared under the Companies Act 2006 and in accordance with the
Charities Statement of Recommended Practice I"SORPIFRS102) second edition") and Financial
Reporting Standard 102. The accounts are drawn up on the historical cost basis of accounting.
Having reviewed the funding facilities available to the School together with the expected ongoing
demand for places, and the School's future projected cash flows, the Govemors have a reasonable
expectation that the School has adequate resources to continue its activities for the foreseeable
future. Accordingly, they continue to adopt the going concern basis in preparing the financial
statements as outlined in the Statement of Accounting and Reporting Responsibilities on page 11.
The financial statements are prepared in sterltng, which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The following accounting policies have been applied consistently in dealing with items which are
considered material in relation to the School's financial statements.
The charity is a public benefit entity.
Tangible fixed assets
The original land and buildings of the School and the domestic housing on site are not owned by
the Company. The company is responsible for keeping these properties in a fit and useful condition
and these costs are written off as incurred. The cost of any material capital improvements to such
land and buildings above £500 is capitalised on completion or purchase.
At each reporttng period end date, the School reviews the carrying amounts of its tangible assets
to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in orderto determine
the extent of the impairment loss {if any).
Depreciation
Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated
residual value based on current market prices, in equal annual instalments over their estimated
useful economic lives as follows:
Building and leasehold improvements
Furniture, equipment and motor vehicles
Machinery and small motor vehicles
over 20 years
over 10 year5
over 4 years
Stocks
Stock represent5 goods for resale and is valued at the lower of cost and net realisable value.
Page 20

St John's School (Northwood) Llmited
{A company limited by guarantee and not having a share capital)
Accounting policies
For the year ended 31" August 2024
Pension Costs
Retirement benefits to employees of the School are provided through two pension schemes, one
defined benefit, and one defined contribution. The pension costs charged to the Statement of
Financial Activities are determined as follows:
(a)
The Teachers, Pension Scheme This Scheme is a Department for Education Teachers,
Superannuation Scheme for the teaching staff of the School. It is not possible to identify
the School's share of the underlying assets and liabtlities of the Teachers, Pension Scheme
on a consistent and reasonable basis and therefore, as ￿qUired by FRS102, accounts for
the scheme as if it were a defined contribution scheme. The School's contributions, which
are in accordance with the recommendations of the Government Actuary, are charged in
the period in which the salaries to which they relate are payable.
(b)
The company contributes to a money purchase scheme available to non-teaching staff at
the rate of 15% of basic salary. Pension costs are charged in the period in which the
salaries to which they relate are payable.
Fees
Fees receivable and charge5 forservices and use of the premises, less any allowances, scholarships,
bursaries granted by the School against those fees, but including contributions received from
restricted funds, are accounted for in the period in which the Service is provided.
Rental income
Rental income is accounted for on a receivable basis.
Donations and legacies
Voluntary income forthe School's general purposes is accounted for as unrestricted and is credited
to the General Reserve. Where the donor or an appeal has imposed trust law restrictions,
voluntary income is credited to the relevant restricted fund.
Investment income
Investment income from dividends, bank balances and fixed interest securities is accounted for on
an accruals basis.
1.10
Investments
Listed investments are valued at market value as at the balance sheet date. Unrealised gains and
losses arising on the revaluation of investment5 are credited or charged to the Statement of
Financial Activities and are 311ocated to the appropriate Fund according to the "ownership" of the
underlying assets.
Page Zl

st John's School (Northwood) Limited
(A company limited by guarantee and not having a share capital}
Accountlng policies
For the year ended 31st August 2024
i.ii
Expenditure
Expenditure is accrued as soon as 3 liability is considered probable and can be reliably measured.
Expenditure attributable to more than one cost category in the Statement of Financial Activitie5 is
apportioned to them onthe basis of the estimated amount attributable to each activity in the year,
either by reference to staff time or the use made of the underlying assets, as appropriate.
Irrecoverable VAT is included with the item of expenditure to which it relates.
Grants awarded are expenses as soon as they become legal or operational commitments.
Governance costs comprise the costs of complylng with constitutional and statutory requirements
and are included 85 a component of support costs for schooling.
1.12
Fund accounting
The charitable funds of the School are accounted for as unrestricted or restricted income, in
accordance with the terms of trust imposed by the donors or any appeal to which they may have
responded.
Unrestricted income belongs to the School's unrestricted fund, spendable at the discretion of the
Governors either to further the School's Objects or to benefit the School itself. Where the
Governors decide to set aside any part of these funds to be used in future for some specific
purpose, this is accounted for by transfer to the appropriate designated fund.
Restricted income comprises gifts and grants where there is no capital retention obligation or
power but only a trust law restriction to some specific purpose intended by the donor.
1.13
Operating leases
Rentals payable are charged on a time basis over the lease term.
1.14
Taxation
The School is a registered charity and its income is not liable to taxation as it is applied to wholly
charitable purposes.
1.15
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the
amount prepaid.
1.16
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from
a past event that will probably result in the transfer of funds to a third party and the amount due
to settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised attheir settlement amount after allowing for any
trade discounts due.
Page 22

st John's school INorthwood) Limited
(A company limited byguarantee and not havlng a share ¢apltall
Accountlng policles
For the year ended 31 August 2024
1.17
Composition fees
The School offers the parents the opportunity to pay for up to five years, fees in advance. The
amount received is invested and interest is accrued. This is treated as deferred income until the
pupil joins the School whereupon the fees for each School term are charged against the remaining
balance and taken to income. Any shortfall is treated as a deduction from School fee income and
any excess may be treated as additional School income (Note 131.
1.18
Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as baslc financial
instruments. Basic financial instruments are initially recogni5ed at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method. The School has
elected to apply the provision of Sertion 11 'Ba5ic Financial Instruments, and Section 12 Other
Financial Instrument5 Issues, of FRS102 to all of its flnancial instruments.
1.19
Critical accounting judgement and estimates
The preparation of the financial statements in accordance with FRS 102 requires the Governors to
make estimates and assumptions concerning the future. The estimates and assumptions that could
have a significant risk of causing a material adjustment to the carrying amounts of assets and
liabilities within the next financial year include accruals. depreciation and revenue recognition. The
accounting in these areas of the accounts requires management to use judgement.
In relation to accruals this is with regards to a best estimate of costs that will be incurred based on
contractual requirements.
For depreciation these estimates are driven by the useful economic life of the associated assets.
For revenue recognition management applyjudgements in concluding on the point at which
revenue should be recognised.
Page 23

St John's School {Northwood) Limited
(A company limited by Euarantee and not having a share capital)
Notes to the accounts
For the year ended 31" August 2024
School fees
2024
2023
The school'5 fee income comprised:
Gross fees
Less: Total bursaries. grants and allowances
5,886,405
1103,118)
5,634,852
183,365)
5,783,287
5,551,487
Other income
2024
2023
Other educatlonal charitable activities
Registration fees
Fees insurance discount
12,100
2,409
10,300
278
14.509
10,578
Other ancillary income
Rent and lettings
47,392
32,479
Deposits forfeited and other miscellaneous income
Fees in lieu
52,148
66,108
39,849
118.256
39,949
Interest receivable
Bank interest receivable
Interest on late fees
141,949
573
29,347
278
142,522
29,625
Company Income
4,550
24,855
Page 24

St John's School {Northwood} Limited
(A company limited byguarantee and not having a share capital)
Notes to the accounts (continued)
For the year ended 31" August 2024
Expendlture
2024
2023
Charitable actlvity expenditure includes:
Interest payable
3,490
2,537
Support costs includes:
Auditors, remuneration for audit services
17,964
11,300
Total staff costs comprised..
Wages and salaries
Social security costs
Pension contributions
Termination Costs
3,141,464
316.271
539,381
2,706,735
281,848
535,185
12,857
3,997.116
3,536,625
The number of higher paid employees was:
£60,001- £70,000
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£100,001- £120,000
£120,001- £130,000
£130,001- £140,000
£140,001- £150,000
Governors, remuneration
Governors, expenses in the year ended 31 August 2024 totalled £1,276 (2023: £3,504}.
Governors are not included in the number of persons employed given above.
Employees: full time equivalent
Number
Number
Teaching- full time
Teaching- parttime
34
30
Administration, technicians, estate and maintenance
Staff - full time
Staff - part tirne
19
23
62
65
The average number of staff in 2024 was 84 (2023: 73).
Page 25

st John's school {Northwood) Limited
(A company limited by guarantee and not havlng a share ¢apltal)
Notes to the accounts {continued)
For the year ended 31 August 2024
Analysls of expenditure
Staff
costs
Other Depreciation
costs
Total
2024
Costs of raising funds
Investment management fees
Bank interest charges
11,213
18,139
11,213
18,139
29,352
29,352
Charitable activities
Teaching
Welfare
Premises
Support costs of schooling
3,343,050
147,639
262,977
243,450
412,446
151,866
632,473
245,985
3,755,496
299,505
895,450
910,109
420,674
3,997,116
1,442,770
420.674
5,850,560
Loss on sale of assets
Total resources expended
3.997,116
1,472.122
420,674
5,889,912
Analysis of expenditure- previous year
Costs of raising funds
Investment management fees
Bank interest charges
10,445
2,537
10,445
2,537
12,982
12,982
Charitable activities
Teaching
Welfare
Premi5e5
Support costs of schooling
3,000,967
137,039
253,421
145,198
443,466
160,118
625,990
342,209
3,444,433
297,157
1,181,607
625,635
302,196
138,228
3,536,625
1.571,783
440,424
5,548,832
Loss on sale of assets
101,877
101,877
Total resources expended
3.536,625
1,686,642
440,424
5,663,691
Page 26

St John's School {Northwood) Limited
(A company limited by guarantee and not havlng a share capitall
Notes to the accounts (contlnued)
For the year ended 31" August 2024
Transfers between funds
Transfers are made to represent the release of restrictions on funds
that have been given in support of capital projects as follows:
2024
2023
Pre-preparatory refurbishment
Coshraf Donation
1,250
25,000
Wellbeing garden
10,000
10,01
26,250
Fixed asset investments
Investment5
2023
2024
At I September
Additions at C05t
Disposals
Unrealised gains and losses
2,448,801
677,707
(538,437)
210,916
2,476,666
381,700
1317,5401
(92,025)
At 31 August
2,798,987
2,448,801
Add cash
37,372
63,988
2,836,359
2,512,789
Historical cost of investments
2,343,032
2,162,163
Quoted investments are made up as follows
UK equities
UK bonds
Overseas bonds
Overseas equities
Private Equity
Alternatives/Other UK
1,514,173
263,174
840,337
177,182
60,106
984,590
101,541
285,045
1,021,641
2,798,988
2,448,801
Page 27

St John'5 School (Northwood) Limited
(A company limited byguarantee and not having a share capital)
Notes to the accounts (continued)
For the year ended 31° August 2024
Tangible fixed assets
Buildings and
leasehold
improvements
A55et5 under
construction
Machinery
and small
motor
vehicles
Furniture,
equlpment
and motor
vehitles
Totsl
2024
Cost
I September 2023
Additions
Disposals
Transfers
7,986,733
6.120
247,511
2,069
2.522,052
205.885
10,756.296
6D9,577
395.S03
31 August 2024
7,992,853
395,503
249,580
2,727.937
11,365.873
Depreciation
I September 2023
Charge for year
Disposals
4,321,617
289,179
237,010
6,317
2,135,077
125,176
6,693,704
420.672
31 August 2024
Net book value
31 August 2024
4,610,796
243,327
2.260,253
7,114.376
3,382,057
395,503
6,253
467,684
4,251,497
31 August 2023
3.665,116
10,501
386,975
4.062.592
stock
2024
2023
Consumables
Goods for resale
3,190
5.089
2,709
5,196
8,279
7,905
10.
Debtors
2024
2023
Trade debtors
Prepayments and accrued income
Related party debtors
Other debtors
50,221
63,965
13.714
26,238
15,073
7,521
129,259
47,473
Page 28

St John's School (Northwood) Limited
(A company limited byguarantee and not havlng a share capital)
Income and expenditure atcount
For the year ended 31S¢ August 2024- (for management purposes only)
ii.
Creditors: due within one year
2024
2023
Final terrn deposits
Related parties
Trade creditors
School fees in advance
Accruals and deferred income
Other creditors
26,400
17,600
246
65,063
283,066
198,362
171,808
111,304
807,626
28,048
117,779
1.091,157
736,145
12.
Creditors: due after more than one year
2024
2023
Final term deposits:
Within I to 2 years
Within 2 to 5 years
After S years
21,600
83,800
34,200
27,600
46,800
48,400
139,600
122,800
Composition fee scheme {see note 131
485,887
625,487
122,800
13.
Composltion fee scheme
Parents may enter into a contract to pay the School in advance for fixed contributions towards
School fees. The money advanced 15 held in cash and can be invested at the Governors, discretion.
A charge is made against the income generated on these securities and bank deposits In the
Statement of Financial Activities, reflecting the element of investment income that is chargeable
up front. The Scheme's liability to meet future fees payable, net of investment income due for
future periods, is recorded in the 8alance Sheet under'creditors"
The money may be returned, subjett to Specific conditions, on the receipt of notice. Assuming
pupi15 will remain in the School. fees in advance will be applied as follows:
2024
School fees in advance".
Withln I to 2 years
214,182
Page 29

St John's School {Northwood) Limited
(A company limited by guarantee and not having a share capital)
Income and expendlture account
For the year ended 31" August 2024- (for management purposes only)
Within 2 to 5 years
After 5 years
213,865
57,840
485,887
Within l year
807,626
1,293,513
14.
Analysis of net assets between funds
Fixed
assets
Net current
assets
Long term
liabilities
Total
2024
Restricted funds
Unrestricted and
designated funds
7,087,856
2,008,217
(625,487)
8,470,586
7,087,856
2,008,217
(625,487}
8,470,586
Previous year
Flxed
assets
Net current
assets
Long-term
liabilities
Total
2023
Restricted funds
Unrestricted and
designated funds
6,575,381
6,575.381
1,442,617
1,442,617
(122,800)
(122,800)
7,895,198
7,895,198
Page 30

St John's School (Northwood) Llmited
(A company limited byguarantee and not having a share capital)
Income and expenditure account
For the year ended 31" August 2024- (for management purposes only)
14a
Re5trlrted funds: movements in the year
Balance
I Sep-
2023
Net
Incomlng
resources
Transfers
between
funds
Balance
31.Aug-
2024
Resources
expended
Wellbeing Earden
lo,￿0
{io,000)
10,000
(10,0001
The restricted funds comprise.
Donations to the School from parents or outside bodies for the provision of specific assets. The
school received £IOk in donations for the wellbeing garden which was spent in the year resulting
in a nil balance.
Restricted funds: movements - previous year
Balance
I Sep-
2022
Net
Incoming
resources
Transfers
between
fund5
Balance
31-Aug-
2023
Resources
expended
Coshraf
Pre-preparatory
refurbishment
25,000
(25,0001
1,250
(1,2501
1,250
25.0(10
26,2501
14b
Unrestricted funds: movements in the year
Balance
l-Sep.2023
In￿rnIng
resources
ResosJr¢es
expended
Othet gains
Transfers
Balance
and losses between funds 31-Aug-2024
Designated-
Bursary fund
General reserve
943,881
6,951,317
943,881
7,526,70S
6,213,722
15,889.9121
241,578
10,000
7,895,198
6,213,722
{5,889.9121
241,578
10,ODO
8,470,S86
Included within general reserves is a revaluation reserve totalling £455,95S12023: £347.422) in
relation to fixed asset investments.
The designated bursary fund relates to funds help for the purpose of awarding bursaries to
students.
Page 31

st John's School (Northwood) Limited
(A company limited by guarantee and not having a share capital)
Income and expenditure account
For the year ended 31 August 2024- {for management purposes only)
Unrestricted funds= movements - previous year
Balance
l-Se*2022
In¢omln8
resoyr
Resouros
expended
Other gaÉns
Transfers
Balance
and los$es between funds 31-Aug-2023
Desi8nated-
Bursary fund
General reseTre
952.683
6,923.817
35,759
5,746,679
13,9151
15.659,7761
140,6461
185.6531
943,881
6,951,317
26,250
7.876,500
5,782,438
15,663,691)
(126,299)
26,250
7,895,198
Is
Reconciliation of change5 in resources
to net cash inflows from operating activlties
2024
2023
Net (outgoing)/lncomlng resources
Depreciation
L055 on disposal
Investment income
Loss/{gain} on investments
Increase in operating creditors and accruals
Ilncreasel/decrease in debtors
Decrease/(Increase) in Stocks
575,388
420,674
17,448
440,424
{118,420)
92,025
235,113
10,601
529
101,877
(93,206)
{210,916}
355,012
{81,786)
{374)
964,792
779,597
16.
Net debt reconclllation
At I September
2023
Cash
Flows
Other non cash
changes
At 31 August
2024
Cash and cash
equivalents
Cash
2,123,384
838,452
2,961,836
Cash equivalents
63,988
(26,616)
37,372
Total
2,187,372
811,836
2,999,208
Page 32

St John's School (Northwood) Limited
(A company limited by guarantee and not having a share capital)
Income and expenditure account
For the year ended 315¢ August 2024- {for management purposes only)
17.
Penslon costs
Teaching Staff
The School participates in the Teachers, Pension Scheme {"the TPS'I for its teachlng staff. Under
the definitions set out in FRS 102, the TPS is an unfunded multi*mployer pension scheme. The
School is unable to identify its share of the underlying assets and liabilities of the plan.
Accordingly, the School has taken advantage of the exemption in FRS 102 and has accounted for
its contributions to the scheme as if it were a defined contribution scheme.
The Government Actuary. using normal actuarial principles, conducts a formal actuarial review of
the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl
Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure
scheme costs are recognised and managed appropriately and the review specifies the level of
future contribution5.
Actuarial scheme valuations are dependent on assumptions about the value of future costs,
design of benefits and many other factors. The latest actuarial valuation of the TPS was carried
out as at 31 March 2020. The valuation report was published by the Department for Education on
27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based
on 1.7% above the rate Df CPI. The key elements of the valuation outcome are:
Employer contribution rates set at 28.680A of pensionable pay (including a 0.08%
administration levy}. This is an increase of 5% in employer contributions and the cost control
resLJIt 15 such that no change in member benefits is needed.
Total scheme liabilities (pensions currently in payment and the estimated cost of future
benefitsl for service to the effective date of £262,000 million and notional assets (estimated
future contributions together with the notional investments held at the valuation date) of
£222,200 million, giving a notional past service deficit of £39,800 million
The result of this valuation has been irnplernented from l April 2024. The next valuation result is
due to be implemented from l April 2028. A copy of the valuation report and supporting
documentation is on the Teachers, Pensions website.
The pension charge for the year includes contributions payable to the TPS of £539,381.21 (2023:
£428,397> and at the year-end £nil (2023- £Nil) was accrued in respect of contributions to this
scheme.
Support staff
The company contributes to a money purchase scheme available to support staff at the rate of 15%
of basic salary.
Total costs
Contributions to both above schemes are charged direct to charitable expenditure so as to spread
the cost of pensions over the employees, working live5 With the company. The total amount of
pension contribution charged to direct charitable expenditure for the year was £539,381 {2023..
£535,185).
Page 33

St John's School (Northwood} Limited
(A company Iirnited by guarantee and not having a Share capital)
Income and expenditure account
For the year ended 31 August 2024- {for management purposes only)
18.
Capital commltments
Capital expenditure contracted for but not provided in the financial statements for the company
was £nil12023.' £nil}.
19.
Other financlal commitments
At 31 August 2024, the company was committed to making the following annual payments under
non-cancellable operating leases:
Land and buildings:
2024
2023
Operating leases which expire:
In less than l year
Two to five years
In more than 5 years
243,000
688,500
243,000
931,500
931,500
1,174,500
20.
Related parties
The Merchant Taylors, Company, a City of London Ltvery company, own the land and
buildings from which the School operates. Stjohn's School has agreed a fifteen year lease
at an annual rent of £243,000, from July 2013 which will be reviewed every five years.
The Merchant Taylors, Company make5 an annual gift aid payment to the School which
the School may use as it sees fit. The gross amount received in the year ended 31 August
2024 was £4,550 (2023: £24,855) The balance outstanding from MT Co at year end wa5
£nil, {2023: £nil).
Until 31 December 2023 Merchant TaylDrs' School and St John'5 School, Northwood
were connected by common administration. Some non-teaching staff of Merchant
Taylors, School performed similar duties for St John's School. A management fee for this
service is charged to St John's, which amounted to £24,00012023: £80,000) for the year
ended 31 August 2024. The balance due to St John's School at the year end wa5 £0
(2023: £246).
The key management personnel of the school comprises the Headmaster, Bursar,
Deputy Heads, Pre Prep and Junior Department Heads. The total combined contractual
benefits totalled £486,798 (2023: £649,619).
Page 34