Company Reg18tratlon No." 3596520 ST. CATHERINE'S SCHOOL, BRAMLEY (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023 ST. CATHERINE'S SCHOOL, BRAMLEY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Indox Govemorg, oificer8 and Advisors Govemors. Report - Structure, ￿m$ and Goveman¢e 2-13 - SlrategiG Report ststement of Governors, ResponsibilTties 12-13 Independent Audilols Report Statement of Financial Activities 14-16 17 Balance Sheet 18 stalem8nl of Cash Flows 19-20 Note5 to the Flnancial Stal8menls 21-36 ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS. OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 AUGUST2023 GOVERNORS The Govemors of St. Catherfne's School, and those who seNed during the year, and to the date of the slgning of this report. except where otherwise staled, are.. Mr Matthew P Lowe MBE (Chairman) MrAbert D R ￿onZO Prof Finbarr E Cotter Bishop Paul Davi8s (appointed 29th September 20231 Mrs Susannah C Fffosimon$ {resigned 16th Mwch 2023) Mr Stuart Hawkes (appointed 29th September 5 2023) Dr Janet F MGGowan 4&2 Mr Andrew J Pianca 1, 3 & 5 Mrs Susan E Shipway 2&3 Mr Denis B Ulyel 1&5 Mrs C18re S Johnstone Mr John A P Blauth Mrs Penelope J H Crou¢h MT8 Karen B M Farrell 2&4 3&4 1&3 Mrs Caroline R Gc*>J Mrs Harriet J K H(MJn8ell Mrs D Lynn Narrawdy Ms Veronica M Povey CBE MrJonalhan C M Tlppett Biyhop Jo Wells (resigned 13th July 2023) 3&4 Notes 1. Academ￿ Committee 2. Development Committee 3. Estsle and Buildings Committee 4. Finance and Risk Committee S. Pastoral anij Well-being Commlttee During the year the actNities of the Governing Body were carried out through five principal committee5. The membership of these ¢ommittees as at 31 Augusl 2023 is shown above for each Governor. The Safeguarding Governor Is Mr6 Clare S Johnstone", the Earty Years Foundation Stage IEYFS) Governor 1$ Mr John A P Blauth., Mrs Caroline R Good is Govemor representative on th8 School ICT Development 5ub-Committee and Mrs Penelope J H Crouth and Mr John A P Blaulh are Govemor representatives on the Bursary and Hardship Awards sU￿mmittee with Mrs Crouch b9ing Chair. Mrs Susan E Ship•vay is Govemor representatNe on the He8￿h & Safely SUt￿COmMIttee. OFFICERS Headmistress Prep Sch￿1 Headmlstress Secretary to the Governing Body Mrs Allce M Phillips Miss Naoml J Bartholomew Mrs Diane E Haeffele ADDRESS Sl. Catherine's School Station Road Bramley Guildford Sury. GU5 ODF ADWSORS Bankers Lloyds Bank plc 147 Hloh Street Guildford Surrey. GU13AG Soltrtors F8rrer & Co LLP 66 Lincoln's Inn Fields London, WC2A 3LH Auditor Crowe U.K. LLP 55 Ludgate Hill London, EC4M 7JW Insurance Brokers Marsh Irtsurance Brokers Limited 4 Mllton Road Haywards Heath West Sussex, RH16 1AH ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST2023 The Governors of SL Catherine's School, Bramley present their annual Governors. R8POrt for the year ended 31 August 2023, including the Directots. Report and Strategic Report. together with the audiled financial statements ￿the year. The Govemors. Report and the flnancial statements have been p￿pared in accordance wrth thè Financial Reporting Standard appllcable In the UK and Republic of Ireland IFRS102), the Companies Act 2006 and the Stalemenl of Recommended Practice apPI￿able to charities preparing their fin8ncial statements in accordance with FRS 102. STRUCTURE, AIMS AND GOVERNANCE REFERENCE AND ADMINISTRATIVE INFORMATION The SchD)I was founded in 1885 and 1$ reglstered with th& Charity Commission under charity number 1070858 and 15 8 company limited by guarantee and incorporated undw ¢ompany number 3596520. The Goverr¥xs. executive officers and advlsors are listed on pag8 1. OBJECTS. AIMS. OBJECTIVES AND ACTIVITIES Charltable Objects The obJects for whlch the School is established are lo promote and wovide for the advancement of educallon by provldiThJ, conducting, govwning, carrying on and maintalning in the United Kingdom or d5ewhere, a boarding or day school or schools for girls In whlch the teachlng shall be in accordan¢e wlth the princi￿&$ of th& Church of England. Publlc Beneflt, Alms and Intended Impact In n*8ting these objects, SL Catherine's public benefft aim Is to inspire pupils to make the most of their abilities by providing a happy and seujre environment where aGadamic excellence is combined wrlh the wider development of the individual's personalty. The S¢hool aims to develop pupils, skills of leadership, sponsibilty and reliability, whlle er￿uraging respect and concem for others in the ￿der wmmunity and a desire to contribute personally an¢J Ihrough St. Catherine's Schcol in corporate a¢livities. A girf18aving St. Catherine's should be a ¢onfident, Ind8pend8nl thinker and learner, Secure in her own bdiefs, able to make sound moral judgments and implement them wf(h compasslon. She should be ready to seize opp)rtunities lo explore Ihe world, make dedslons and take risks, confident to embark on the unknown, equipped lo rise lo any challenges lffe may pres8nl. and wlth th& resilience and strength of Gharacter to overcome adverslty. The Govern￿ are mindful of the long-Standir@ need lo provkle publlc b9ngfil and of the requlrements of the Charilies Act 2011 have had regard to Charlty Commlsslon guidance on public benefrt. In order to ensure that our publlc benefft18 available to those who could nol oth8rwlse afft)r(I to atténd at St Catherine's. the Governors agreed to provide funds up to the maximum value of 5% of fee income lo fund bur8arles, includlng extras for cases of greatest need. In recent years, a greater focus has been placed on 11+ bursary places, with the aim of supporting the successfvl appliGanls throughtyJt all 7 years of their senior Bchooling, subj￿1 to annual review. Bursaries are available thr￿gh the Brfght Fu￿re8 Bursary Programme for both day and boardirvJ fee5 as boarding ¢an be partlcularty helpful for girls in need of educational or famlly slabllty. The Governor5 also conllnue to conslder cases of hardship for Current pupils lo enable them, wherever possible, to finish the key stage of education that they are in 8t the Ilme of the family experfencing hardship. All bursaries are means tested and. almost invwiably, include a home vl8lt lo ascertaln real need. In de￿dIng on the allo¢allon. the Burw & Hardship Awards sU￿cOMmIttee contlnues lo fo(xJs on local glrls who would benefrt from an award. In nKJSt years, one or more Sixth Form HMC (The Headmasters, ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 and He￿miStresses, Conference) scholar(sl from Eastsrn Europe are a￿epted on a full bursary wlth extras. Invari8bly thLvtse sludents are supported for their twrpyear form education. In additlon, we contlnue io support 4 Ukrainian siuéents on full bursarles and have agreed to supprxt an addilional glrl in the Senior Sch(￿1 from September 2023. The Schcd prowded £1.247k {2022: £1.215k> of assistan¢e in burwies, scholarshlps and other awards to a total of 127 {2022: 1281 pupils. The School continues to develop its exlstlng Ilnks with state schools in the immediate locality. particulwly doser working partnerships ￿th Bramley Infant School and Go8den House (a special needs scho almost adjacent to our site). Overseas. there are historic links with the Mygnel Orphanage and School, Nairobi. In addltlon ¢omwter equipment was donated lo GHSLPS Mant8nthgry School, K(￿h1, India. We wdcome our th81 schooL8 to St Catherine's swimming FWI to teach swlmmlng on a weekly basis in lemi time without charge. SvAmming coaching in these ¥essions is also provided free of charge. We contlnue to er¢our8ge extemal studenls to use the music fa¢ilitw lo facilitate unNersity courses. A I￿al prlmary school was able to join in wtth Summer Science C8mp and receive science lessons in the Prep School WonderLab. A student from Ashcombe School, Dorking, who is inler85ted in b8￿MIng a Physics Teacher, Lyjmpleled Wlxk ExperSen¢e week with our Science Dopartmgnt in July 2023. We ￿ntInue lo provide Gosden House wilh the use of a minibus on a weekly basis free of all costs and asslst where we can on other areas of need. Our Engllsh Depl run an English LanguaJe speaking ins￿aINe for a school in Lebanon. Communlty Links We offer the u$e of our Auditorium and boardlng f*ilities to extemal causes. Our equipment 8TrJ minibuses are available for loan to I￿al events with drwers and minibuses being US￿ by a local school lo attend Ihg Christmas production al another local school. Our car parking facilities remalned accessible when needed and thls year have supported several events tsking place in Hdy Trinity CtrKJrch, Bramley and fly other Bramley Vlllage events such as open gardens for a local hospice charity. Lo¢al charllles and schools were able to use our facilities wlthout hire charg8 for events induding Qubz Nh3hts and Balls and a Fund-raising Dinner. The School continues to enCOu￿e links wth the ¢ommunlty and18 plea￿1 to be carryir¥J out Its regular actNities. Tho Senw School gids again gave a concert at Cranleigh Arts Centre in Spring 2023. Prep School gids performed to residents 81 Blunden Court on hvo occaslons in Autumn 2022 and Sprfng 2023 and Birtley House in Spring 2023. We supported Remembrance Servke8 al Al Saints, Blackhe*h, Holy Trfnty, Bramley. and St Thomas of Canterbury. East Clandon wlh girts playing the Last Post, the organ or singing. In addition, an audio rec(ffding of our Concert Band wa5 provlded to Slgnatur& Care Home. Peasmar8h. We continued to teach a Microsoft Office Specialist adult education course free of charge to 3 k)cal re$iJenl$ and a laptop was donated lo Holy Trinity, Bram5ey. A 6-week Introdu¢tion to IT adult educatlon course was introduced for 5 Ukralnlan Refugees. ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Latln textbooks were gwen to support Latin lessons being tsught by 8 St Catherlne's teacher at Glebelands School. Musical instruments includlng perujsslon instruments, ￿11¢ and b'mpani chair were loanwj to ltsxl Colleges arwj charities. Glrls In schod choirs continue lo sing at Hdy Trlnlty Church. Bramley, to support worship. We have also supported the Church with pupils helping at church events and staff assisting wrth parking and grounds work when requested, arvj through maklng donations. The culture of helping others continued where possible. wlh staff hdping pupils lo support charitable venlur¢s often promoted ty the pupils themselves through their own ¢oncerns arml Interesls. Many drfferenl Gharitie$ were, therefore, pronioted and at every opportunity the pupils were encouraged to learn atout the charity themselves. The Prep School PTA also held a fundraising ball in June 2023 which raised over £25k for Shoth'ng Star Children's Hospices. St. Catherine's School co-operates vthh local and national charities to share Cultural and sporting facilities and to widen public access to the schooling provlded so as to optimise the edu¢ational use of its facilities and, in the publ￿ interest. lo improve the awareness of ils pupils of the so¢ial conl8Xt of the all-round education they recetve. The School also ben8fils from the nelNffjrk of fomer pupils and currenl and former parents through the St. Catherine's Association, whose support is gralefulty ackn￿fjdged. STRUCTURE, GOVERNANCE AND MANAGEMENT Govornlng Documont The Charity 1$ govemed by its Merr￿ndum and Arlicles of Assoclatlon dated 10 Juty 1998. Govemlng Body The School ￿ goverr￿d by its Goveming Body, details of which are Ilsled on page 1. ￿ is a sdf-appointing body, one third of whose members retire each year, but are dlglble for re-election, subject to mandatory retirement al the AGM following their 741h birthday. Governors who reach the age of 74 mid-year wlll sometimes be requested to complete the academicyearfor continuity. The Governots a￿ selected based on eligibilty, personal compelence, specialistsk1115 and affinty lo the School. NewGovemors are Inducted into the working of the Schwl, including Board workings and prc￿dures, through mentorlng by exlsting Governors and an induction programme organised by the Headmistresses and the Comblned Senior Management Team members. whlch Includes thorough Safeguarding checks and traSnlng. Rggular contact whh the daY-l￿daY running of the School 1$ malntainad through the Chaimian of Governors, monthty meeting with the Headmistresses and the Chief Operating i)fficer, the routine committee meetings of the board and the maln board meeting. and in aédf(ion, the haff-yeaty Governors, Days where Govemors are invtted to vlsll lessons, actrvities and attend training ses$lons on the Independent Schools Standards Regulatlons (ISSRS). In addition, the Governors are wamily Invited to attend events such as conoerts, drama productions and special ￿lebratOry days etc. The Governors are aware of the Charlty Governance Code updated in 2020 which Sets out the prlnciples and recommende(I pract1￿ for good governance within the sector. The Govemor8 are satlsfled that the Chwity applies Ihe prfrKlple5 of the Code wtthin its current govemance arrangements. The review ofthe Govemors, Pollcy Statement {the strategic plan) for 2016-2021 was d&layed by Covld- 19. bul the Board held a Strategy Day In the Autumn Term, 2022 and confirmed Ihe strategy developed during that day al a ftjrther meetlng In Febfuary 2023, planning into the future wlth optimism. This strategy was then embedded into the School's Development Plans in both Prep 8nd Senior Schods. and in part￿Ular into the agreed A. priorit￿ which are published on the School's website. The outry)mes of the new Plans were reviewed by the Board in thelr June 2023 meetlng 8nd already significant progress has been m8de to meet the longer-lemi targets, Includlng stsrting the deiailed design slage of CAT Phase 1 towards a partial build of the new STEM and Llbrary Space. ST. CATHERINE'S SCHOOL. BRAMLEY GOVERNORS, REPORT (CONTINUED) FOR TrIE YEAR ENDED 31 AUGUST 2023 Oryanlsational ManagThnt Th• Sl. Catherin8'5 School Govemors. as Twstees of the Charity and Directors of the Company. are logally responsible for the overall management and control of Sl. Catherine's SchrKJl and rreet three th'rrEs a year. The work of implementirwJ their policies is carried out by the various Committees noted on page 1, who meet two or three limes a year in the weeks leading up lo the meetings of the Governors. The principal Govemors, Comittees a￿ as follows.. - Chaired b Professor Finbarr Cotter Mr Albert D R Alonzo Mr Denis B Ulyet Mr Andrew J Pianra Dr Janet F McGowan Academic Development Estate and Buildings Finance and Risk Pastoral and Well-being The day-t(thy runnlng of the SGhrd is delegated lo the Headmislre88 who 1$ supp￿e￿ by the Headmistress of the Prewal(ry School (Prep School), the Chief Orerating Officer, and the Senior Management Teams In both Schools who together make up the key management personnel. The two Headmistresses. the Chiefoperating Officer and rel&vant members ofthe Combined Senior Management Team attend the Govemors, Board m99tings. R8muneratlon is reviewed by the Goveming Body wlth the objective of providlng appropriale irtentives to encourage perfomance and rewarding all staff contribuuons to the School's success. Neady all staff are appointed to a dear salary S￿18, which is updated and published annually after th8 Governing Body ree any annual uplrft. The Charity has a wholly owned subsidiary, SL Calh&rine's Enterprises Limited, and thls is used for the tradlng of the School Shop, Anniversary Halls Bar, Forum Café and Swrts Club. The School Shop $8115 the new School uniform and related equipment. Any Surpluses are grft alded for the benefit of the Schod. STRATEGIC REPORT Oblectlves for the Year This yeartho Sthwl has continued to malntsln its academlc performance and a hlgh standard of pastoral care which are annual objectives of the goveming body. The widening of availability to 8 St Catherine's education, a regular obiecb've, ha$ been maintained through bursary Jxovision and the School always looks for new ways to encourage loeal sch¢yJl ohildren to use the facilitie$ for educational purposes. as oulllned above. Readines5 for rouune InspeGtion by the relevant authorilles Is an annual objeGtr¥e. Three years aft&r our last ISI in$i)ection in October 2019. the Senior and Preparatory Schools were insp8Cted in O¢tob8r 2023 under th& new ISI Inspection Framework and publication of their report is awaited. The School communty continues to enioy and benefrt from the Governors, ten-year development vision for the SCI￿)01 - Create the Future- whth has most recenliy added The 6 a￿1 The Art & MakerSpa¢e to the estate. The School confimied that. regardless of ils ongoing ambitious development plans. the focus for expenditure $I￿Uld continue to b8 on keeping the fees in￿ease$ as low as possible for fijture y8ars, whilst maintaining the Govern￿. top Strategic priorities. which relate to the edurAtion provided by the SCI￿1. robust flnancial management and ensuring the wellbeing of wpils and staff. ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Prlncipal Actlvltles of the Year The School provides day and boardlng edu¢*lon for glrfs from the local area, a wide cal¢hment area In the United Kingdom and from overseas. Thls year the Senior School averaged 62712022: 6291 puplls of wh)m 17112022: 1431 were boarders and Ihe Preparatory Sche￿1 averaged 221 puplls {2022.' 229). The total number of glrls In the scho￿ in September 2023 was 851 {2022: 843). REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR The academic programm8 for public examlnatlon$ returned to normal with all exams sat in person in th8 summer of 2023. The ￿SuIts for St Catherine's were excellent. both at GCSE and Alevel. The fomer. however. w8re impacted by Stricter marklng and hlgher grade bwndaries imposed on the cohort nationally in order to offset the grade infiation that occurred during the pandemlc years. Nonetheless. this did not impact our students slversely when 11 came to their university desllnatlons. and ty still performed very well and in Ilne wlth expectstions across the curriculum. Digital lethnology continues to be a feature of the School and the IPad FfOLYamme rrM)ved to managed device5 provided by the Schwl for Years 5, 6 and 7. Pupils and teachers continue to embrace new technology with enthusiasm and dig￿1 learnlng Is a routine di￿Us8￿$n point at staff meetings in both areas of the School. Largely used as a resou￿ initially instead of textbooks, the stsff continue to use iP8ds and Google Classroom as a digital repositery of resources for all classes In U2 to U6 as well as some vnitten work, alongslde a gradual introductK)n of Microsoft OneNote. The mo8t notable achievements are summarised below. Pr•paratory School Achievements Year 6 pupils gained senbr school places at St. Catherine's. CranlevJh Prep, Priols Field, Lady Eleanor Holles, St Mary's Ascot, St Teresa's, Moon Hall. ToTmead and GHS. Gids were awarded an Aca¢Jemlc Scholarship, a Music Scholarship and an Organ Scholarship at St Catherine's and exhibils for Art and Gym at Priols Fleld. Girls were also offered an Art Scholarship at Stover School and exhibits forA¢ademic Potent'al and Swlmming at Prior's Field. In Musi< perforniance hlghllghts induded the Carol kniix, N81ivity, Harvest FestNal House Slnging Competlllon and Spring Concert. Soloists performed in regular Informal Concerts culmlnaling in one speclal Prep Soloist Concert in March. Year group performan(*s Included PPIII String Sch8me CorKert, Fl Wlnd Scheme Concert, Ull We(Jding and Llll Production. Prep Ensembles performeé to the local communty al Gosden House, Shalford Village Hall. Blunden Court, Blrtley House and Bramley Fete. Prep gids also enjoyed collaljorations Trmth the Senior School, Including with the Intermediate Orthestra. Inlermediale Wind Ensemble. Junior Camerata. Intermediate Cello Ensemble and singing joinlly with the Middle School Chow. Prep String ensembles were also tutored by Sixth Form students. GiT15 took part in RAD and ISTO dance lessons in tap. modern and ballet, achieving outstanding results. The LAMDA departmenl continued to expand, and all girls gained Distinctions in their exams. Llll gids performed In a wonderful woduction of Mablda the MusKaland Pre•Prep girls perfomied in their Natwty. In AlhlelTh, girls achieved S gold medals, 1 silver medal and 1 bronze medal at the West Surrey Athletlcs. 5 girls qualified at this event for Ihe National Prep School Athletics Finals. We placed ￿ overall at the Guildford and District Athletics, with the U9 and U10 teams placing 1st Sports Day and friendly alhlelics cOMpet￿on9 were enjoyed by all. Crlcket Ls a developing sport in the P￿p School and girfs are leaming the ￿ndarnenta1 skllls whlle being Introduced to the game through match fixtu￿$ and ¢oa¢hing. Gir15 competed in the Surrey S¢h(ds Cross County and GHS events. Ai tha autumn term GHS Invttational. the U88 pla(*d ￿ and Ihe U98 placed flrst out of 13 Schools. Over 3LN) runners look part in ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 the Autumn and Spring cross county events at St Catherlne's and the St Cal's U9 team pla¢*J W at the SFring event. The House gymnastics comp8lition was'a highlight for many girls and much planning and weparation went into routines and choreography. In November we hosted the ISGA 2 Piece at St Catherine's and competed in the IAPS Gymnastic¥ in Kent,. U10 medall&J 2Th1. U11 medalled in 3rd place at ISGA, and the U9 Team medalled In 2nd place at IAPS. Girls from U9. U10 & U11 took part in the ISGA National Championships w6th the U11 Team medalling in 5th place for their Group Floor routine and medalling in 6th place overall. In the Summer Temi 8 girfs from U8 competed at the Minl ISGA competition. In Biathlon and Aquathlon, 20 girls qualif￿ the National Blalhlon Finals. The U9 team came 3td nationally and the U10 team were 4th Two girfs placed in the lop 12 nationally. An indusive Aquathlon event for all girls in Fl-Llll was held, raising fvnds for Shooting star Children's Hosp￿eS. In netball, the U11A team won the gold medal place al the regional IAPS wmpetitK)n and qualrfied for IAPS Netball National Finals, then won Ihe play-off to place 4th natlonalty- They also placed W in the Surrey County Netball Champlonships and won th8 U11 Fellon Fleet tournament. Llll girls won the U11A- F tournament at Hoty Cross and were awarded the Murray Cup. In swimming, 5 girls across Ull and Llll qualified at the reglonal IAPS swimming competition in the top 20 natM)n8lly to eam a place to compgte al the IAPS Natlonal Svrimming Finals at the London Olympic Aquatic Centre. The U11 team also qualffled for the ESSA National Primary Teams Championship and won 2 silver meda15 at the Southeast qualrflers arKI a bronze medal In the Medley relay at the Nationals. Football was introduced into both the currfculum and eXtr￿Urr￿u1ar prc4Jramme thls year. Friendly match&s were played and won against local sch¢X)Is and a mixed U101U11 16am attended the IAPS Nallonal Girls Football Fesiival. The Prep School raised almost £6,000 $0 far this year in Suprrtxt of a ranoe of charities includlng Cancer Research UK, Children in Need, David Shepherd Wlldlife Foundation. Dlrect Relief, Friends of the Earth, Lullaby Trust, Mind. NatiC￿al titeracy Trust, Pond Meadow Academy Trust and Sl Peter and St Paul's Church, Godalming. The school community donated clothing lo send to famllles In Ukraine and Harvest Boxes We￿ donated to the Godalming and Villages Community Store to help local Stwggling famllles. In addltion, the Snaugural Prep Summ8r Ball raised over £25.000 for Sh¢)oting Stsr Children's Hospices from donatiorts from the Prep school communty. Outdoor educatlon has offered the gid5 unique opportunities and experienc8s outsid& of the confines of the classroom. In PrewPrep, gi￿8 d9ve10￿d their Guriosity and spent time exFdorlng the outdoor environment and learnlng from nature and Prep girls have learnt a progressiv8 set of bushcraft s￿'11S and enjoyed wild art and orfenteering. Surrey Wildlrf8 TNSI are helping the Prep Schocl to improve our school garden and wood18nds to support nature. Girls have made hedgehog holes, treated log plles and daslgned a school pond in the Cottage Garden. Girls have a150 helped lo renew our sch¢￿￿ Green Flag Eco Status as part of the Eco Schools Programme and P￿p girls became engaged in envlronmental issues Induding No Mow May, reducing energy around school and learnlng about COP27. Glrl8 ralsed money from the Hort-Eco-Cultural show in support of Th8 David Shepherd Trust. The Prep Sch￿￿ were awarded the Prfmary Sclence Quality Mark at the beginning of ihe Autumn temi in recognition of outslanding scwceteachlng and leaming and their outreaGh workwith lo¢al schools. We were also shortiisted for Prep School of the Year based on our sciencè te￿hing and leaming. Gir18 enjoyed various aclivltles during a joint science week wlth RGS Prep in the Spring and Summer Terms. Year 5 and 6 girls compeled in the very first prlmary SATRO competition and the Science monilors joined together wrth the Ubrary mentors this year to choose the Royal S￿lety Young Scienc* Book of the Ye 2022. Visiung speakers to the Prep School induded author. rap. and hiphop artist Karl Nova, Anthony McGowan and Gareth Jones. We have also introduwl a series of careers talks for girfs in Ull and Llll. ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2023 Two Llll gwls took part in the Love Languages compet11￿n In the Summer term and were commended for Ihoir original rap in French. Chess dub and chess masterda$$ ¢onUnue to be popular with Prep girls taklng part in several toumaments ably guided by chess master Mr Martin. Prep School gKls ¢ompeted al th8 ECF National Girts, Chess Semi Finals which were held at Sl Catherine's with 61 leams competing from sthools from across the counlry. Glrls also competed in local matches irKludlng agaln8t Adro, Yateley Manor and Priors Fleld. Ull girfs partldpated in a mock wedding and receptlon for parents In the school chapel and Cottage Garden. Fl and Lll girts took part in a French café and all girfs able to utilise their French in an interactive way. Fl girls enjoyed a Greek Workshop In the Sprfng term. Llll girls enjoyed Evacuee Day ￿th varlous WW2-themed activities. Day trips inclLKled lo Painshill Park. Bramley Library, Nower Wood, Brook]ands Museum, Alice Holt Forest, Sayers Croft, Chichester Hartjour. BFI Southbank, Hamplon Cwrt, Gulldford and Thorpe Park. Residenllal trips included a ￿daY SciencelEnvlronmental trip lo Holmbury Si Mary, a thre&day History-based trfp to Dorset and trips to France and the Isle of Wight. GraTrJparents Morning, Home sessions and Open Day were opportunities to welcome parents to school. Senlor School Achievemonts In the Senior School, ￿ultS at GCSE were.. 47% at grade 9, 72% al grades 9- 8 and 89% grades 9 to 7. In th8 A Level examlnatlons e0% were at grade A'_ A {87% al grades A'_ B). 67 girl$ gained a place al universlty thls year. Including 4 at Oxbridge, wth a further 12 glrfs golng the post-quaSification route. 5 are lakÉrvJ up places overseas induding USA, Canada. the Netherlands and Hong Kong.12 will take GAP years and apply io university post-qualrfi¢ation durlng the year. The Music Departmont has enjoyed many events includlng the St Catherine's Day Gala Concert, Jazz and R(￿k Concert, and the Middle School atxl Senior Summer Con¢erts. We welcomed the internationally acdaimed VOCES8 for a choral maslerclass and ¢on¢ert in the Autumn Term and Canlore5 returne(I lo sing Choral Evensong in Winchester Cathedral. 16 g1￿8 attained their Grade 8 certffi(*tes and 2 thelr Diplctha. The Drama GCSE and A-level students Fxoduced wonderful perfomiances as part of their practical examinat￿n8. The U6 created a piece of Physical Theatre called TLYn, cleated around Iheir interest in th8 recent overtuming of the Roe vs. Wade legislation in the US that reslricled abortion rights, and the concept of moralty versus legality. The L6 group perfomed extraots from the powerful and highly moving Agnes of God by John Pielmeler as well as studying and performing sections from Berkoffs Mg18moWis. We enjoyed the Middle Sthool production ofAlan Ayekboum's comlc ￿hodunniV, The Boy Fell into Book, and the Seniors hard-hitting Lord of thg Flies. The L6 mu$lcal, dlrected and produced by themselves, was Annie. Compelilive $port was al its very best wth the 1 st, 2nd and 3rd Lacrosse teams Crowned Natlonal ampions. Th8 U15A won the U15 South Schools Toumamenl and the U15A and B teams were Surrey County Champions. All the netball teams were Surrey County Finalists YAth the U16s gaining 9th place in the Nalion81 Netball Finals. Many girfs also gained individual honours In a variety of sports. The new Art & Makerspace op8ned in Autumn 2022 housing a new Culinary Arts kn'tchen, Textlles rc*)ms, Photography and an additional Sixth Form Art Studio. The summer exhibitions of GCSE and A level Work were shown in this new Space to great 8ccl8im. Chess enjoyed a full programm8 through(MJt the year, but the highlight was hosting the annual Seml Fln21 and Final of the England Girls. Ch•$s Championships for the first time since the Covid 19 Pandemlc ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Another well￿rganIsed ¥uGcessful competltion further confirmed our slandlng as one of the strongest advC￿es for femabe Ches5 participation. Live Debating saw a number of competlllons and for the second year running we won the regronal rounds ofthe CranmerAwards. We came second In the ESU Winston Churchill Public SpeakirKJ competition and look part in the ESU Perforniing Shakespeare Rounds. the ESU Mace Debating competltFon and the Inlernational Public Speaking Competition wlth one of our st￿ents repre88nllng England and Wales. There have b8en numerous charfty events undertaken by the six School houses plus S own clotheg days. The s￿1h Form Charities and Phllanthropy Boards held varlcrtJ8 events induding 8 treasure hunt for Year 7 and a FatherlDaughler dinner in January and in March we held the annual and hlghty successful Talent and Fashion show. The Community Board devis6d and craated a mural to decorate a play area at nearby Gosden H¢)use Special Needs SGhool. Students entered the United FQnglom Mathemallcal Challenge. achlevlng overall 25 Gold ¢grtifKates, th 15 students qualfylng for hlgher rounds. In Ihe UK Mathematlcal Olympwj one gid gained Distinction. A 8￿th Fom7 team of U6 aTrJ L6 Further Malhem8tici8ng entered the Riianglg Maths compolition over a period of 15 weeks, reaching the Flnal and comlng In the top 10% out of 1000 participati￿ schools. This has been a good year for D of E ￿th glrls in every year group from U4 to U6 taking part in a range of skllls. physical acllvltles aNJ volunt8erirKJ as well as the expedtuons. The DofE expeditions trx)k place in the Surrey Hills. Exmoor and the Brecon Bea¢or)s with 36 girls achlevlng their Gold Award, 14 attendir Buckingham Paace to collecl these in person from HRH the Duke of Edlnburgh. Voluntoors The School is indebted to the Parents. Associations and many volunteers in both S¢h¢ols, whose valuable support is gratefully acknowledged. 11 is eSpecIal￿ grateful to the many retired members of staff who return to Work in a volunteer capacity, the Prep School parents who assist in the Prep library, parents of the casts of our playslmusicals who help with the dramat￿ F*oductions and members of the local community who are involved with the Schod. Thls year there have been 30 volunteer5 sup￿tIng the school. gNing in the reglon of 2,970 hours of their valuable lime. FINANCIAL REVIEW AND RESULTS FOR THE YEAR The n&t irxome f¢x the year was £289k12022: £273k). The 6 is popular and proving to be a draw for the sixth form community and is near full cap&ily. The Art & MakerSp&e, fully opened in September 2022, is b8ing used with great success ￿rOsS the board lnduéir￿j classe5 for the prep school and Culinary Arts courses for TIR Sixth Form. Reserve8 Poll¢y Total fijnds of£34,202k (2022.. £33,913k) conslst of a permanent 8ndowmenl of£6,853k (2022: £6,953kl an expend8ble endowment of £188k (2022.. £188kl, restricled fvrKls of £793k {2022: £784k} and unrestrfctwj furK18 of £26.368k12022.' £25,988kl. The￿ are no free resorves as the unrestriGted funds have been invested in land and buildings. The Schwl's financial viabilty is secured by strNing to 8chi&ve regular annual surpluses through Ca￿fvI and prudent financial management, and further secured by the substantial propety portfollo outside the main school Sltes that is primarily used for $laff accommodation. Funding of capital projects and necess￿ day to day worklng capital is mel by ¢?￿ful management of the School's liquid resour￿$, togetherbmth fees paid underthe Fees in Advance scheme, an overdraftfacilty from the School's bankers and long-lerm loans as and when required. ST. CATHERINE'S SCHOOL, BRAWILEY GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 The Intent￿an of the Govemors is to use the School's annual operating surplus towards continuing to imwove th8 current fa¢ililies, Invesllng in Ihem for our long4emi future. It is Iherofore unllkely, in the medium term, that thère wll be f￿e reserves. Going Con¢wn The Govemors are conscious of the general economic and political unwtalnty. Including the FX)tential thdrawal of business rate$ relief and Inlroductlon of VAT on school fees and they continue to make plans accordingly. Our finarKlal poslllon Is strong wth pupll numbers higher than forecast and no signrficant change in the rwmber of appllcstlons. St Catherine's 1$ well placed lo maintain pupil numbers and to continue at the current level of8CtNity with registraliony for both Prep and Senior Schools remaining strong. The Govemors, planning prccess manages the business risk a￿1 indudes financial prOjeCt￿n$ for up lo 15 years and has tsken into consideration the current economic climate and hs potential Impact on income and planned expenditure. The risk assessment anil financkl proJe¢tlons are regularfy reviewed in the light of energy costs, government interventions and other extemal economlc factors. The Govemors have a jusltfied expectation that our bank borrowlng facllltles provide an adequate safety nel should il be required. The financial ststements have therefore been prepared on the basis that th8 charity ¢ontinues to be a goir concern. The nole on golng concem on page 21, v￿thin the Accounting Policies. provldes further Informatlon supportlng this conclusion. Risk Manag•m•nt Each Governor commilleg reviews, in consultation with the Combined Senior Management Team, it5 0 area of risk before presenting its risk report to the Finance & Risk Committee who review Ihe Whole Risk Register beft)re reporting tothe full board. The Governors are collectively restw)ns1l￿e for the managemenl of risks faced by the School. A review of the School's rlsk managemenl prc¢e$ses is carried out regularly. The key controls used by the Sch)ol includg.. robust 8crutiny of all safeguarding Ffocedures by (S)vemor review require(J by law for the protectlon of chlldren and vulnerable adults. temis of reference for all Committees", strategic planning. budgeting and management acci>unting,' organisational structure and clear lines of ￿pOrting,. ¢lear auth￿satIon and approval levels,. Prfnclpal Rlsks and Unc•rtalntl•s The key rlsks are the ablllty to malntain the numbers on roll. to retain key staff, rnar￿ge the pressures on costs 8nd anticipate and respond to a changing political and ￿onoMiC environment. Both pupil numb6rs and strategles and events whlch further advertl8e the School are remewed in bi- monthly marketing meetlngs. To mitigate the risk of losing key Staff the Headmistresses have internal systems, Irdudlng Staff Revlew. Ythich allow the conduit of ideas for development of individuals. The Gov8mors continue to tigh￿Y rnonitor the financial p¢)sition of the School through regular reporting and review through the Finance and Risk Comm￿ee and full Goveming body. The i>)vernors are satisfied that the major risk¥ that have been identified are adequately managed. The Governors recognise that systems can provide only reasonable, tyJt not absolute, aSsUrar￿ that major risks havo been adequa191y managed. 10 ST. CATHERINE'S SCHOOL. BRAMLEY GOVERNORS, REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Fundral8lng P•rfornwic• and Actlvltl•8 The St Catherine's communty has gener(wJsty o￿ated £98k12022: £338k) for spe¢ifiG causes. st Catherine's School does not use any commerclal parttcipators in Its fundraislng actwilies. Ati fundraising actNitses for St Catherine's School are c8rried out by School stsff, parents and pupils. These activities are managed by the Director of Development and are monitored through the Development Committee. wth overall oversight by the memb8rs of the Goveming Body. The School has in place a Slatemenl of Ethical Fundraising 2nd a Glft Acceptance Policy aVaila￿e on Tequgsl to any communlty member. The Statement of Ethical Fundralslng ouuines the procedures that would be followed in the event of a complaint being received. If a complaint is not resofved lo the sali5factlon of th6 donor in Ilalson with the D8velopment Dlrector, the complaint will be escalated for solution by the Chair of the Development Commtttee and Headmlslress. The cha￿ of the Development Committee and Headmistress wlll be informed about all complaints. No complalnls Trlaling to fijndralslng aclivitie5 have been receNed by St Catherine's School during the current or previous financial year. The School is an organl$alional member of the Chartered In5tilule of Fundraising and has registered wth the Fundraising Regulator and complies with the Code of Fundraking Practice as published by the Regulator. The School publishes and abides by the Regulatorf5 Fundraising Promise. It is a180 a member of Council for Advancement and Support of Education {CASE). In all fundraising activities the School refers to published best practke. The School ha5 processes and wntrols to ensuTr that vulnerable adults are protected in regard lo Association and Development a¢tNFbes and has publish￿ a paper ovllining these whlch Is publicly available on the website. The School seeks to avoid any unrgasonable intwsion on a person's privacy from fundralsing activiues and its practices in thls Tegard are outlined in the School Confidentlalty and Privacy Pollcy. FUTURE PLANS 2023- 2024 The School's plans for next financial year reflect tho Governors, strategic priorities and Indude.. Education Provided by the Sch￿1 maintain low pupillteacher raltos, whrch we believ8 glve gid8 the necessary attention to enable them to develop their acadernic skills to full wlenlial- appolnt aThl retain thg best 18achers as speclallsts at all levels, almlng to broaden the dtversity of the staff body wherever possible wlthin those crllerk8.' continue to pYoff￿te the S¢hJol as a top academic boardlng school to natlonal and international students. particularly celabraling the excellent facilities for all age-groups. culmlnating in Thè 6 boardi￿1$9¢1al space lor Sixlh Form students opened in 2021: maintain the high standards of academic achievement demonslr8ted by 11+ oUt(￿me$ and recent years, public examination results and excellent univer81ty place5 gained,. continue lo monitor last yeals move to a Sixth Form curriculum of 3 A Levels from the outset and a subsidiary subject chosen from a list of elther altematNe GCSE or equiv81ent qualrflcations or activities LFndertaken for pfeasure and resplte from A Level sluty. Financ￿ Management conlnue to plan as far as re8sonable into the future lo minimise finanoal risK cope ¥￿th the expected and unexpect￿1 events that might damage the operations of the School and ensu financlal $tablity and the ongoing proviston of the best possible faclliti 11 ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Gonlinue to priorilise and increase lettings of our facilrties perfornian¢e of music and drdma beyond our own wpil$.' ich support the learning ar Pupll and Staff Wellbeing ensure that pupil and staff wellbelng19 a prfOr￿: focus wilh sen3itivty on ¢ontinulng to raise Equalty. DNersity an(i Inclusfvity as matters for dI￿u$$10n and greater understanding through a uoss FOR THE YEAR ENDED 31 AUGUST 2023 Unrestrtct•J Restrlcted Endowment Funds Funds Funds £'ooo £'oi)o £'ooo Totsl 2023 £'ooo 2022 Notes INCOME AND ENDOWMENTS FROM Charltabl8 activities Schwl fees Other wjucalional income 17.655 1,370 17,655 1,370 16.713 728 Interest re¢elvable Donatlons & legacle8 15 14 338 98 Other Iradlng income Grfl aid from subsidiary Other incomelRentals Furlough grant inGome 127 72 127 72 31 46 Total Income 19,239 107 19.346 17,874 EXPENDrruRE ON RAISING FUNDS Finance costs under Advance Fees Contracts ank interest and charges Development ¢os15 62 140 67 150 163 140 247 247 380 Charitsblo actlvMi•s Educatbjn 18,623 87 100 18,810 17,221 Total oxpendltur• 18.870 87 1CKJ 19,057 17,601 Not in¢omrfexpendilur•) 369 (100) 273 Transfors b•tWOon funds 16 11 (11) Not movement In funds 380 1100) 289 273 Ros•r￿ brought forward 25,988 7,141 33,913 33,640 ReMrvts ￿rri￿ forward 15 & 16 26.368 793 7,041 34202 33.913 All of the School's operations represent continuing activities. There were no recognksed gains or losses other than those shown above. A copy of the Statement of Financial Activities for the year ended 31 August 2022 provlded In nole 22. The notes on pages 21 to 36 form part of these financial statements. 17 ST. CATHERINE'S SCHOOL. BRAMLEY BALANCE SHEET AS AT 31 AUGUST 2023 Notes 2023 2022 FIXED ASSErs Tangible assets Investment in subsidiary ¢ompany 42221 42.586 42221 42,586 CURRENT ASSErs Debtors Cash at bank and in hand 923 2,638 2.917 3*11 3,561 CREDrroRS: Amounts falllng due within one year 12 (6,301) (6,471) CURRENT LIABILITIES (2,490) (2,910) TOTAL ASSETS LESS CURRENT LIABILITIES 39.n1 39,676 CREDrroRS: Amounts falling due after mcKe than one year 13 (5,529) (5,763) NEf ASSErs 15 33.913 FUNDS OF THE CHARITY: UNRESTRICTED FUNDS: General 16 25,988 RESTRICTED FUNDS: Scholarships, prKze funds and donations 16 793 ENDOWMENT FUNDS Permanent Expendable 16 16 853 188 6.953 TOTAL FUNDS 34202 33.913 The rv)tos on pages 21 to 36 forni part of these financial statements. Approved on b&hall of the Governing Body and authori$ed for iss e on 2nd December 2023 MPLowe Chairm8n of the overnin ody. A J Pianca Chairman of the Flnan¢e and Rl8k Commlttee 18 ST. CATHERINE'S SCHOOU BRAMLEY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 £Thio Cash flows from oporatlng adlvlt188 (Not• a 2.016 1.614 Cash Ilows from Investlng a¢tlvltlg8 Invostmenis and servlclng of flnanc• Bank interest r￿gIpts Finance costs and bank charg88 Payment$ to acquire tangible flxed assets Proceeds from sale of tangible fixed assets 23 (202 (818) 14 (216) (1,949) (997) (2,151) N•1 cash Infiowl(¢xrtfiow) before financing a¢tivities 1,019 (537) Cash from flnan¢lng actlvltles Fees in Advance scheme: Receipts from new contracts Amounts accrued lo contra¢ts Amounts utilised to pay fees Bank loan. repayable by 2035 2,567 62 {3,018 1351) 2,588 63 (2,698) (7401 (389) Incrgaso1(decr¢ase) In rAsh (Note b) 279 (926) RoGondllatlon of net cash flow lo mQVomgnt In not debt Intxeasel{decrease) In cash In the year Nel decrease in Fees In Advance DecTrase in108n finanr 279 389 351 (926) 47 342 Movement in nel debt Net debt at 1 Swomber 202212021) 1.019 (6,127) (537) (5.590) debt at 31 August 2023 (2022) 5,108) (6.12T) The r￿teS on pages 21 to 36 form part of these finawal statements. 19 ST. CATHERINE'S SCHOOL, BRAMLEY STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 NOTES TO THE CASH FLOW STATEMEP ReGon¢iliation of n•t Income to not ca8h inllow from operatlng actlvities 2023 £'ooo 2022 Net inccrfme for the year 273 Bank and other Interest receNed Finance costs and bank charges Deprecialton Profit on disposa of frAed assets Decrease1{1r￿eaSe) in debtors Increase in creditors {23) 202 (14) 216 1.062 (286) 363 336 Net cash inflow from operatlng actlvltlos 2.016 1,6t4 Analysis of ¢hang8s In net debt Asat 1 September Movement 2022 £000 31 August 2023 £woo £'ooo Cash al bank and in hand 2,638 279 2,917 2.638 279 2,917 Fees in Acfvance scheme B8nk loans (3,494) (&271) 389 351 (3,105) {4.9201 1,019 (5,108 20 ST. CATHERINE'S SCHOOL, BRANILEY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 AccouKfiNG POLICIES Bas1$ of accounling The flnan¢lal statements have been prepared In accy)rdancg wlth the Financial Reportlng standard applicable in the UK and Republic of Ireland {FRS102}, th8 Companies Act 2006 and the Statement of Recommended Practice 8ppllcable to tharilles, the Charities SORP IFRS 1021. The functional ￿rrencY of the School is GBP because that is th8 Gurrency of the wirnwy economic environment in which the Sch¢)oi operates. The activities oflhe charlty's wholty owned subsidiary company. Sl. Ca￿￿Tin8'S Enterprises Limited, are immaterlal to those of the charity arKI consolidated financial Statements have, therefore. nol been prepared. The Sch￿1 is a Publlc Benefit Entity registered as a tharity in England and Wales and a smpany limited by guarantee. 11 was incorwraled on 10 July 1998 (company number: 3596520). Golng Concern The preparatlon of financial statements requires an assesgmenl of the appropriateness of adopting a going concern assumption slnce this assumes the availability of adequate fin8ncial resources io allow the School lo contlnue for the foreseeable future. the time of approvi￿ these financial ststements, the general economiG picture and fLrture political KYessur8s contiftues to evolve as does the potential impact on the Sthool, in ¢ommon with many other businesses. The Governors ￿ntinuallY rev￿ the position ¢arefulty and prudently to ensure the long-lerm conllnulng operation of Ihg School. the ongoing provision of ¥¢hooling for the pupils and the employment of our staff. The Govern(Ks regul8dy T￿￿1ve and review financial arKI other forecasls covering on8. five and frfteen year future periods. The future financing of all capital pmjects is carefully consldered before approval is gwen lo proceed. SensIt￿ty scenarlos are produ¢xd toensure that there are adequale bank torrowing facilities to provide a suff￿an1 safety net Should varioug potential adverse events oGcur. After rewewlng the School's budgets, forecasts and projections and, recognising that pupil numbers are perhaps the most important factor in the financial Vfdbility of a school, reviewing the level of appllcatlons lo join the school in the future, the Govemors hav8 a reasonable expectation that il has adequate resources, indudir¢g current ￿8h reseryes and banknng fadlibes, to conllThJe In operational existerKg for the foreseeable future. The Schcol therefore continues to adopt the wing concem basis in preparing its finanThal statements. Crltl¢al a¢¢ountlng Judgements and key $ourc•s of •stimation uncertainty In the appllcalion of the accountlng policies, Governors are required to make judgements, e8tlmaleg. and assumptions about the carrying value of as$els and liabilities that are not readily apparent from other sources. T￿￿ estimates and undertying assumplM)ns are based on historical experien￿ and other factors that are considered to bg rglgvanl. Actual results may differ from these estimates. The estimates arml underlylng assumption8 are revlewed on an ongoing basi¥. Revisions lo accounting 8stim8les are recognised in the period in whlch the estimate is revised rf the revision affects only that period. or in the period of the revision and future pgriods rf the revision affected current and future periods. In the view of ihe Governors, no assumpllons conceming the future orestlmation uncertainly affecting assels or liabilities at the balanca sheet dale are likely to resutt in a material Jjustment to their carrying amounts in the next financial year. ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 b) Flxed agsets Tangible fLxed assets wiiti costs of £5.000 or mcffe are caprtals8d and, when t*ought into use. are depreciated by equal annual Instalments over their e8timateJJ useful Irves. The current estimated useful INes a￿.. Freehold buildings Equipment Computers Vehldes I weather pitches 50 years 5 years 3 yews 4 ye*s LarKI value, e8tim8ted 8t £6m. is ￿t depwlated. The Govemors reviewed the estimated useful lrfe of the School's freehold Ixjildings and based on Ihls revi￿. depreciation is being provKled to WTit8 off their book value over 50 years from 2002 or the date of subsequent purchase. Fo0$ and Slmllar eamed Income Fees recewable and charges for services and use of the premises, less any allowances. holarships and bursaries ￿anted by the &h)ol againsl those fees. bul including conlrbi ullons reCe￿ed from restricted fund5, are &¢ounted for in the period in which the servlce is provided. Amounts received under the School's Fees in Advanco scheme conlracts are recorded as deferred inwne and credit&Y lo income when the fèes are due. They are allocated as current Ikibilities where the education will be provided wthln 12 months from the rèporting date and as long-term liabilities where the education wlll be provided thereafter. d) Donatlons, 1oga¢le8, grant8 and other voluntary incoming resources Voluntary in¢oming resources are accounted for as and when èntitlement arises, the amount r2n be reliably quantrfied and the economic benefit to the School is considered probable. Voluntary In￿me for the School's ger￿al purp)ses is accounted for as unrestricted and is cr8df(ed to the Annual Fund. Where the donor or an appeal has imwsad trust law restrictions, voluntary inGome is credite(I lo the relevant reslrlcted fund and incoming endowments are accounted for as permanent trust capltal or expendable trust capital. accordlng lo whether the donor intends retention is to be pemianent or not. Gifts in kind are valued at eslimaled open market value at the dale of glft, In the case of assets for retenlion or consumption, or at the value to Ihe sc￿01 foi donated serv￿5 er facilities. Expendltur• Expenditure is accfued as soon as a liabilty is cons￿er8d probable, éiscounted to present value for longer-tem Ilabiliti85. Expenditure atlributable lo more than one cost category in the SOFA Is apportioned to thgm on the basi$ of the estimated amount attributsble to each actlvlly in th8 year, either by reference to Staff Ume or Ihe use mad8 of the und8rfying assets, as appropriate. IrreGoverable VAT is in¢luded with th8 item of expenditure lo wh￿h it relates. Oporatingloasos Rentals under operating leases we chargwj on a straight4ine basis over the lease tenn, even rf the payments are not made on such a basi5. Benefits received and receNable as an incentive to sign an op8ratiTrJ l&qse similarly spread on a straigh14ine basis over the lease tgrn1. Financial instruménts Basic financial instruments are Initially recognised al transaclton value and subsequent measured at amortised cost with the exceptlon of Investments which are held at fair value. Flnancial assets held at amortised cost compT15e Gash at bank and in h8nd, together with accrued Income, trade and other debtors. A specific provision is made for debts for which recoverabillly Is In doubt. Cash al bank and In hand is defined as all cash held in instanl 22 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 access bank accounts and used as working capital. Financ181 liabilities held at amortlsed cost comprise bank thns, trade creditors. other cred￿orS. accruals and enlrance fees. Assets arKI IlabllRles held In foreign currency are translated lo GBP al the balance sheet date at an approtKlate year end exchange rate. h) P8nslon costs Th8 School ¢ontribut•s to the Taachers, Pension Defined Ben•fits Schgme al fate5 set by the Scheme Actuary and advised to the School by the Schemg Admlnistrator. The Scheme is a mulli-8mployer pension schèmo and il is not tx>ssiblg to identify those assgls and liabilit￿ of the Scheme wh￿h are attributable to the School. In accordance wrf(h FRS 102 the Scheme is accounted for as a defined contribution scheme and contributions are a￿oUnted for in the period to whiGh they relate. For r￿n4eaChing staff the School ¢ontribules to individual personal pension s¢heme$ at a maximum of10% ofannual pay. These contributions a￿ a¢¢ounted for in the period to which they re18te. 23 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 FEES RECEIVABLE 2023 £'ooo 2022 The fees receNable ¢omprl$ed: Gross fee8 Less.. Bursaries. $¢holarshlp3 and other awards 18,867 (1247) 17,825 (1.215) 17,620 35 16,610 103 Add back.. Burs8rth paid for by Restrthd Funds 17,655 16.713 OTHER EDUCATIONAL INCOME 2023 £'ooo 2022 A¢ademi¢ costs recharged to parents Trips. actNilies and other costs recharged to parents Registration fees Extra tuition fees Other inwmg induding facility 206 966 92 388 67 51 130 105 1,370 728 INTEREST RECEIVABLE 2023 £'ooo 2022 Interest received from SL Catherine's Enterprises Limited Interest on s¢hol¥ship, prize and donated funds Bank interest r￿1Ved 15 24 14 NET INCOME Tha operallng Surplus is stated after chargingl{credlllng): 2023 £'ooo 2022 Auditorfs remuneration - audit fees excl. VAT Depreciation Profrt on disposal of fixed assets Leasing charges 30 1,183 27 1.062 24 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 EMPLOYEE8 2023 £'ooo 2022 Staff Costs: Wages and salarles Social securtty costs Pension costs 9.022 8,484 950 1.625 1,715 11,725 11,059 The number of employees whose emoluments exceeded £60,000 was.. 2023 2022 £60,CM)1- £70,(y)o £70.001- £80,1)00 £80,001- £9),IX)o £90,001- £100,000 £180,001- £IW,000 £190,001- £200,0(y) Sixteen (2022: Elevèn} of the above employees are accrulng beneffts under a defined benefitg pension $chefflo. Contributions of £33k12022.' £16k) were made to a defined contr￿¥Ut10n Scheme for three12022.' one) empkJyee5. Aggregale employee benefit5 including employels penslon and nallonal insurance contributions, of key management personnel were £490k (2022.. £49gk restated). Total headcount was 251 12022: 244). of which 174 (2022.. 1701 were teaching staff, 7712022: 74) were other supp(wt staff. Neither the Govemor8 nor rersons ¢onneded wth them received any remun8fdUon or benefits from the School or any conne¢ted organisation, other than th8 reimbursement of Iravel expenses, webinars and other expenses whi¢h were nece$sarily IncU￿ed by Govemors. Thls tolalled £7,719 for eight GoVerr￿S in 2023 (2022.. £2.235 for Six Govemors ￿$tated). 25 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 ANALYSIS OF TOTAL EXPENDrruRE Costs Other t)epwiation £'ooo £'ooo 2023 £'ooo 2022 £'ooo Costs of ra181ng funds Financing costs Developmerrt 202 10 202 45 217 163 Total 212 247 Charltablo actlvlll•s Teaching Hou58keeplng and catering Premises Support and govemance costs 9.317 11,763 1,556 3,670 1,821 10,403 1,412 3,702 1,704 476 1.605 2,011 216 1,183 Total 11,690 5.937 1,183 18.810 17,221 Excoptlonal Ilom8 T¢>tal oxp•ndlture 11,725 6,149 1,183 19,057 17,601 FIXED ASSETS Land and Bulldlngs Assets In course of construction £'ooo other Assets Total £'ooo £'oc £'ooo Cost At 1 September 2022 Additions Transfers Dlsposals 49,642 2,676 406 (2,276) 3.713 378 56.031 818 2.276 (2291 1229) At 31 August 2023 51,952 3.862 56.620 Depreclatlon At 1 September 2022 Charge for year Disposals 10.033 937 3,412 246 (229) 13,445 1.183 1229) At 31 August 2023 10,970 3,429 14,399 Net book valug At 31 August 2023 40,982 42,221 At 31 August 2022 39.609 2,676 301 42.586 26 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 FIXED ASSEfs {CONTINUED) LarKI and bulldlngs were valued on 29 September 1999 by King Slurge and Co. Chartered Surveyors. using the depreciated replacement cost basis of valuation for the majority of the estate as well as the existing us• basis of valuatSon for the reshJue where appropriate, lo establish the falr value of these assets whon gifted to thls charllable company In 1999. The land value estim8te(l at £6m is not depr￿lated. Assets in cour8e of constructitin amountir¢J to £806k relates to the CATalyst Projec( Health Centre and combined unrfom shop. As al 31 August 2023 there was no (xpital expenditure {2022.' £0) contracted for bul not kyovided for in the financial stalemerts. INVESTMENT IN SUBSIDIARY 2023 2022 shar￿ in sub¥idiary 100 Net book value at 31 August 100 The cost of ts above investrnent totdled £100. The School's Interest is as follows: Company Country of In￿rpOratIon shares held Clas8 St. Catherine's Enterprises Limited England and Wales Ordinary 1(M) The registered office of Sl. Catherine's Enterprises Limlted {Comp8ny Number 2W2111) is at the same address as the School. The prlnclpal a¢livity of the subsidiary is that of yelling unrforms and accessories to the pupils of the School. The company also operates the AnnNersary Ha115 Bar, Fornm Café and Sports Centre on the School slle. The net assets of this company at 31 August 2023 were £13k {2022". £13kl. and. at th81 dale. the Company's total assets were £234k12022: £214k) and totsl liabiltties were £221 k {2022.' £201 kl. The wmpany's profft and loss account for the year ended 31 August 2023 showed turnover of £337k (2022.. £189k) and an operating wrfit of £127k {2022- profil £31k). £31 k Gift Aid {2022'. £nll) has been paid over during th8 year. Gift Aid £127k (2022.. £31 k) was ￿ceNable al the year end. 10. EXPENDABLE ENDOWMENT FUND INvESTME￿rs Th8 total expendable endowmenl fvnd investments were liquid81ed during 2004. The proceeds were loaned lo the general fund to finance the acquisition of two resldential properties. Interest paydble on this loan to these scFKAarshlp funds at 50h per annum, as shown in note 16 and awarded as scholarships ¢Juring th8 year. 11. DEBTORS 2023 £'ooo 2022 £'ooo Fees recoverable Amount due from St. Catherine's Enterpnses Limited Other debtors Prepaid expenses Accrued income 176 195 319 194 267 136 104 923 27 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 11. DEBTORS lcontinuod) The amount due from St. Catherine's Enterprises Limited indudes a loan of £150.000 {2022 £150.000. whlch falls du8 in greater than one year and which PTovidéy the company with worklng capital to purchase school unrform slock for resale. Interest 15 charged at 1.75% p.a. above b on the balance outstanding at the beginning of each month. 12. CREDITORS: amounts falllng due wfthln on• y•ar 2023 £'ooo 2022 Trade wdilors Fees in Advance other taxation and social securty costs other creditor5 Accrued expenses DefeTred income Entrancg fees Loan repayments (note 13) 180 709 234 213 521 189 1.423 351 738 87 1,557 4164 2.137 3.820 2.651 Fees in Advance scheme (note 131 6,301 6,471 The tol81 amount held in relation to entrance fees of £1,557K12022 £1,423k) ts Included above. In the normal course of business, the expectsd repayment of these amounts wlll be £224k12022: £237kl within one year and £1,186k (2022.. £1,186k) after more than one year. The Governors h8ve reviewed the contrad temis under which pupil fee depjsits are held by the Schod. Alhough under normal circumstances these w511 be repaid over future years when the pupls complete their education al Ihe School. pupils can leave al eadier dates. The School does not therefore have an unconéillonal rlght to retsln the individual deposits for at lea$t 12 months after the balance sheet. In line wllh FRS 102, the balance of deposits held atthe year end have been inGluded vthhin wrrent Ilabllllles. 13. CREDITORS: amounts falllng du¢ after ffloro than ong year 2023 £'ooo 2022 Loans Fe85 in Advance s(*eme 4561 4.920 843 5,629 5,763 Fees In Advance scheme balan¢es to be applied: In over 5 years In 2-5 years In 1-2 years In less than 1 year 393 515 2.137 402 441 2.651 3.105 12,137) 3,494 (2,651J Less- Induded In current Ilabllhi8s {note 12) 843 28 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 13. CREDrroRS: amounts falling duo after more than on? yoar {¢ontinuod) 2023 £'ooo 2022 Loans reF)ayable'. In over 5 years In 2-5 years In 1-2 years In less than 1 y 3,025 1,167 369 359 3,025 1,536 359 351 4920 {3591 5,271 (351) Less: Included In ¢urrenl I￿￿111[e8 (note 12) The balance on the Fees In Advance scheme represents ts a￿rUe￿ Ilablllty under the Scheme ntracts. Further detalls on the movements In ￿ during the year are shown In ￿te 14. The School arranged a lon*lerm loan ￿th Lloyds Bank plc In the year ended 31$1 August 2020. The loan is in the amount of £6,OOOk wth a fixed rate of 2.6050/0. repayable in monthly Inslalments ich cDmmenced in July 2020 and wh￿h are due to be completed by June 2035. The bank loan Is secuTed on the freehold land and buildings at th8 SGhool. 1Q FEES IN ADVANCE SCHEME Parents may enter into an agreernent fcff the advan￿ payment of fees. Under the temis of the Scheme the advance fee payments may be ￿tUrned should the relevant pupils leave independent lucation before the advance fee payment is applied. 2023 £YJoo 2022 £'ooo The movements durlng the ye8r were as follow8: Al 1 September 2022 {2021 > New contracts during the year Amounts credited to contracts 3,494 2,567 62 3.541 2.588 6,123 6,192 Amounts utilised in payment of fees to the Scho(4 3,018 B•lan¢• al 31 August 202312022) ST. CATHERINE'S SCHOOL. BRAMLEY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 15. ALLOCATION OF NE[ ASSETS Expendable Permanent Restricted Endowmonl EThJowmenl Fund3 Funds Funds £'ooo £'ooo £'oD) Funds Tot rooo £'ooo Tangible fLxed assets Investment in subsidiary Property loan Current assets Current liabilities Long temi liabilities 35.368 8,853 42221 (188} 3,018 {6,3011 {5,5291 3,811 {6.3011 (5,529) 26.368 793 6.853 34,202 Pernianent Endowment Fund The permanent endowment fund represents the land and buildings on the Senior School Camws that are held on tNst. Expondable Endowment Funds Thg expendable endowment funds represent fijnds gwen to th8 School with the spec[r￿ purwse of supplementing scholarships and prize5. These funds were loaned lo the General Fund to part fiJrKJ the rmjrchase of Iwo resldential properties for use by the School. Interest al 5% p.a. is payable on thls inler4und loan, this interest being available for 5thJlarship5 and awards. Restrlci¢d Fund8 The restricted funds represent un$pgnt income from Ihe expendatye endowmenl funds and Ur￿Pent donatlons In relatlon lo other restrlcted funds. The Bursary Fund exists ft)r donatlons 10 5UPPOrt parents who we unable lo meet the foes In full. The Hardship Fund exists for donations lo support parents ￿ we unable, temporwlly, lo meet fees in fiJll. The CATalyst campaign exists to create a new leaching space d￿l¢ated to ￿1￿￿￿, tethnology. malh$, ijigltal leaming. independent readlng and resear¢h. The Art & Makerspace campaign existed to create enha￿ed areas. fvll of natural light, for Fine Art, Textiles, Culinary Arts and Photography. Crgate the Future is the umbrella campaign for The 6, Th8 CATalyst and The Art & Makerspace campaigns. Further expendilure of e8L* of the above funds is planned during the 202&24 finan￿81 year. 30 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 16. MOVEMENT ON FUNDS I S61plemtfr 2022 31 August 2023 £'ooo Income ExFenditure £'ooo £'ooo Transfers £'ooo Unrestricted Fundg General Fund 25,988 19,239 {18,870) 26,368 b) R08tr1cted Funds Scholarshlp fund8 19) Prlze fund8 Donatlons Bursary Fund Hardship Fund The 6 Campaign CATalysl Campaign Art & Makerspxe Create the Future Other 69 (75) 47 182 439 (3) (51) 107 ￿87) (11) 793 Expendable Endowment8 Scholarshlp funds T M Kitchin Mrs Rus5ell-Baker St. Catherine's Old Girls Margaret Kaye Gregory Award Mrs S Bevan Endowment fund 74 74 77 22 22 Prlz• funds 188 P•Tman•nt Endowment Prok￿ fund 6.953 (100) 6,853 Total Endowment Funds 7, 141 (100) 7.041 Transfers behveen restricted and unrestricted funds rewesent the utiliSat￿Tr of funds in aceordarte with the terms of the restricted funds. 31 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 17. PENSIONS AND LIFE ASSURANCE Tea¢hlng Staff The School participates in the Teachers, Pension S¢herre ('the TPS") for its teaching staff. Thè pension charge for the year Includes contrlbullons payable to the TPS of £1,457k (2022: £1,395k) ar￿ at the yearend £11* (2022- £11 Sk) was aCen￿ in respect of contributions to this scheme. The TFVS is an unfijnded multi*mployer defined beneffts penslon scheme govempd by Th8 Teachers, Pension$ ReguLqtions 2010 (as amended) and The Teachers, Pension Scheme RegulatDn$ 2014 (as amended). Members contribute on a'pay as you go. basis with contributions from members and the employer belng credked to the EXc￿uer. Retirement and other pension benefrt8 are paid by public funds provlded by Parllamenl. The employer ￿ntributIOn rate sel by the Se￿etary of State followlng scheme valuatlon5 undertaken by Ihe Govemment A¢iuary's Department. The most recent actuarral valuation of the TPS was prepared as al 31 Ma￿h 2020 and the Valuatlon Report was publlshed in October 2023. Followlng the McCkMJd Judgement, the remedy proposed that when benefits be(x)me payabl&. ellglble members can select to receive them from either the reformed or lega¢y schemes for the period 1 April 2015 to 31 March 2022. The atharies have assumed that members are 1Skely to choose the option that provides them with the greater benefits. and in preparlng the 2020 valuatlon have valued the '9reater value, beneffts for groups of relevant members. The valuation conflrmed Ihal the employer contrlbutlon rate for the TPS would increase from 23.6010 to 28.6% from 1 Ap￿1 2024. EmF4oyers are al80 required to pay 8 scheme administration levy of 0.08% gfvlng a total &mployer contribution rate of 28.68trA. Non-t•achlng Staff The School's contributions to the personal penslon schemes of non-teachlng Stsff in the year were £258k (2022: £230k). 18. TAXATION The company 15 registered as a UK charity and take advantage of th8 exemptions available to charkles. 19. FINANCIAL INSTrUMEKrs 2023 £'ooo 3,675 (7,65n (3.982) 2022 £'otsJ 3,367 {7,608) (4.241) Financial assets measured at amortised cost (a) Financial liabilit￿$ measured at amortised cost {bl . Net financi81 liabilities measured at amort15ed cost a. Fln8ncial assets include cash, trade and fee debtors. staff loans, other debtors. a¢￿￿1 Income and amounts due from subsidiaries. b. Financial liablili8s indude deposits, loans repayable, Irade creditors, other creditcffs and accA￿l expenses. 32 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 OPERATING LEASES At 31 August 2023, the School had lotsl commitments under nonrycanc£llable operating leases in one year or less of £1 k {2022.' £1 kl and greater than one year aThl less than five years of £5k {2022: £1 k) for offic8 equipment. RELATED PARTY TRANSACTIONS The foll¢)wing amounts were charged lo St. Catherine's Ent8rprk8es Llmited. the School's wholly owned tr8dlng subsldlary. durlrKJ the year.. - 2023 £'ooo 2022 Shargd salary ￿$ts Rent Administrative support Inte￿$1 12 12 12 The shared salary C•)gts represent the salary costs of the staff in the unrfom shop and the Sports Centre, Annrversary Halls Bar and Forum Café operations. The rent and administr8tive supwt charges represent the best estimale of ￿$1$ Incurred In the running of the unrform shop. Interest is charged at 1.75% p.a. above base on thg total balance outstanding at the t*ginnlng of each month. For delalls of the amount due from SL Catherine's Entetprises Limited at the year-end, see note 11. During the year the Sth)ol incurred tolal ￿$ts of £8k12022.' £8k) with related parties. A partner of member of the key management personnel charged £8k (2022: £8kl for organising chess acttvities including the purchase of equipment. The balan￿ outstanding at the year-8nd was £Nil (2022.. £N￿). These arrangements We￿ fulty nsidered bythe Govemors WI￿ look steps to ensurg thatthey provided best value for the School. ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 22. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 Unrestrthd Restricted Endowment Funds Funds Funds £'ooo £'ooo £'ooo Total 2022 £'ooo Notes INCOME AND ENDOWMENTS FROM Charltablo aGtiviti08 School fees Other educatlonal Income 16.713 728 16.713 728 Intere8t recelvable Donatlon8 & legacleB 14 338 Other tradlng InGome Gift aid from 5ubsKliary Olher irthmelRentals Furlough grant Incom• 31 31 Totsl Income 17,527 347 17,874 EXPENDrruRE ON RAISING FUNDS Finance costs under Advance Fees Contracts Bank interest and charge8 Development costs 67 150 163 1S0 163 380 Charltsble actlvltl08 Education 16,984 137 100 17.221 Exceptional item8 Totsl •xponditur• 17,364 137 100 17,601 Net Incomellexpendlture) 163 210 11LKI) 273 Transfers b•twè•n funds 16 457 (457) Nel movement In lund8 620 {247) {100) 273 R•s•rv•s brought forward 25.368 1.031 7,241 R•••rves carrled fobvrtard 25,988 7.141 33,913 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 23. COMPARATIVE ALLOCATION OF NET ASSEfS Exp8ndaFAe Pennan8nt Restiicted Endowment End0￿ent Funds Funds Funds £'ooo £'o £'ooo Unrestrlth(I Funds £'ooo Total 2022 £'ooo Tarvjible fixed assets Inve8tment in subsidiary Propety108n Current assets Current liabilili8s Long lemi liabilities 35.633 6.953 42.586 1188) 2,777 (6,471 > (5,763> 3.561 (6.471) {5.763> 25,988 188 6,953 33,913 COMPARATIVE MOVEIAENT ON FUNDS I September 31 August £'ooo £'ooo £'OCJ) £'ooo unrostr1¢t￿ Funds General Fund 25,368 17.527 (17,3641 457 25,988 b) ReStrI￿ed Funds Scholarahlp funds 19) Prlzo funds Donations Bursary Fund Hardship Fund The 6 Campaign CATalyst Campaign Art & Makerspace Create the Future Other 73 57 31 (35) (69) (5) 182 60 569 90 182 150 122 23 (3> 12> 119> (207) 1250) 1.031 137 45 35 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Comparntlve movement on funds (CONTINUED) I September £'ooo 31 August £'ooo rooo rooo £'ooo ) Expwdabl• ond¢)wmonts S¢holarshlp funds T M Kitchin Mrs Russell-Baker SL Catherine's Old Girls Margaret Kaye Grggory Award Mrs S Bevan Endowment fuTrJ 74 77 74 22 Prlze funds 188 Permanont EndoYffii•nt Property fund 7,053 (100) 6,953 Total Endowment Funds 7.241 (100) 7.141