Docusign Étnvelope ID.. 8DOA1A05-19B543BF-AC74-FE066542D8A2 Registered number: 04002372 Charity number: 1084965 Dame Allan's Schools IA company limited by guarantee) Annual report 31 August 2024 *AE38X28M• 2410512025 COMPANIES HOUSE A04 1109
Docusign Envelope ID.. 8DOA1A05-19B5438F-AC7¢FE06654208A2 Dame Allan's Schools (A company limited by guarantee) Contents Page Reference and administrative details Governors. report 3-17 Governors, responsibilities Statement 18 Independent auditorfs report to the members of Dame Allan's Schools 19-22 Statement of financial activities 23 Balance sheel 24 Statement of cash flows 25 Notes to the financial statements 26-49
Docuslgn Envelope ID., 8DOA1A05-19B>43BF-AC74-FE066542D8h2 Dame Allan's Schools (A company limlted by guarantee) Reference and administrative details Year ended 31 August 2024 Governors Mr l Belsham, COptative Governor (Chairman) (resigned 20 June 2024) Mr D Arthur {Chairman), Cowoptative Governor Mr M Ahmad, Co-optalive Governor The Very Reverend L Batson, Ex-officio Governor (appointed 17 October 2024) Mrs C Bell, Co-optative Governor (resigned 17 April 2025) Mr S Bell, Co-optative Governor (appointed 20 June 2024) Mr D Bowman, Co-oplative Governor (appointed 25 January 20241 Mr A Chicken, Co-optative Governor Mr D Foreman, Cowoptative Governor (appointed 17 October 2024) Mr T Gray, Cowoplative Governor (resigned 27 January 2025) Mrs M Hinson, Co-optative Governor Dr S L Johnson, Parenl Governor Mr W J Lomas (resigned 4 March 2024) Dr V Morrell. Parent Governor Dr P Paes, Co-optalive Governor (resigned 27 January 2025) Mrs M Peutherer, Co-optative Governor (appointed 9 November 2023} Mr S Taylor. Parent Governor (resigned 14 April 2025) Mrs L A Watson, Cooptative Governor {appointed 9 April 2025) Company registered number 04002372 Charlty registered number ' 1084965 Reglstered offlce Fowberry Crescent Fenham Newcastle upon Tyne NE4 9YJ Prlnclpal MrWMScott Clerk to the Governors Mrs V McDonald Independenl audltor UNW LLP Citygate St James. Boulevard Newcastle upon Tyne NE14JE Bankers Lloyds Bank plc 102 Grey Street Newcastle upon Tyne NE99 1SL Solicitors Muckle LLP Time Central 32 Gallowgate Newcastle upon Tyne NE148F Page 1
Dowsign Envelope ID.. 8DOA1A0&1985438F-AC7&FE066542D8A2 Dame Allan's Schools IA company limited by guarantee Reference and administrative details (continued Year ended 31 August 2024 Investment advisers Brewin Dolphin Securities Limited Time Central 32 Gallowgate Newcastle upon Tyne NE14SR Rathbones Investment Management Earl Grey House 75-85 Grey Street Newcastle upon Tyne NE16EF Insuranc• brok6r Marsh Brokers Limited Capital House 1-5 Perrymount Road Haywards Heath West Sussex RH16 3SY Pa9e 2
Docusign Envelope ID.. 8DOA1A05-19B543BF-AC7*FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report Year ended 31 August 2024 The Govemors present their report and financial statements for the year ended 31 August 2024 and confirm they comply with the requirements of the Charities Act 2011, the Trust Deed and Ihe Charities Statement of Recommended Practice (FRS 102). PURPOSE AND ACTIVITIES Dame Allan's S¢h¢)ols is a charitable company limited by guarantee. The Charity was established for the provision of day schools for girls and boys in or near the City of Newcastle upon Tyne. Vision Our vision is for every child al Dame Allan's lo seize opportunities for discovery and development with confidence. pursuing excellence in eVehIng they do. Our mlsslon Dame Allan's Schools exists to provide a rich and inspiring experience of education, to bring opportunity and aspiration to the lives of children, to impart a lifelong love of learning and prepare them with the skills, attributes and values to lead meaningful and successful lives, enabling them each to make their own positive contribution to society. Our ethos Our values we exist to provide the best education lo every pupil, regardless of background, within an inspiring and supportive environmenl as informed by the Schools, Anglican foundation and traditions. Embedded within our community is the expectation that pupils are nol only purposeful and tenacious, bul also tolerant, caring and supportive of each other. underlining that when children feel valued and known, there is far greater likelihood of them becoming happy and successful adults. Discovery and achievement - Dame Allan's pupils are challenged to discover and develop their sporting, artistic, leadership and other talents alongside their academic abilities, and to aspire for excellence in all Ihat they do. They should always strive for their best, recognising setbacks as opportunities to reflecl and leam. At Dame Allan's. pupils are given a structure and richness of experience through which new skills are learnt and knowledge embedded. They grasp opportunrties to achieve beyond any externally or self-imposed limits and press ahead confidently in their academic and personal development. Within the Dame Allan's family and beyond - at the heart of our aims 1$ a concern for each pupil's welfare and for their positive development as an individual and member of the Dame Allan's family. Whilst Ihe Schools are a community of pupils, parents. staff, alumni, governors and olhers, we value the individual's needs and recognise the importance of supporting each other. We emphasise the interdependence of the individual and the community at local, national and international levels. We ask pupils to show care and concern for others within this orderly and supportive place, aeting wilh consideration and respect for other people, Ihemselves and their environment. Page 3
DocU$n Envelope ID.. 800A1A0&1985438F-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 Allanian Core Values Drawn (rom our ethos and objectives, we expect every pupil to develop values, skills and attrlbutes that wlll enable them to achieve to the best of their abilities as follows- Respecthil Strategic 1am kind to all others l am well-behaved l am empathetic I CA)Ilaborate l am organised I set targets I have high expectations of myself l am resilient and persever6 PJlolivated Meta-thinker l am reftectiva l am creative I make links in and across the Curriculum l am academically brave I have a growth mindset l am inquisitive l am willing to strive l am an Independent leamer Activities for achieving our purpose Dame Allan's Schools aim to provide a first-class education for boys and girls aged 3 to 18, from all cultures and backgrounds. within a supportive environment informed by the Schools, Anglican foundation and traditions. Pupils are encouraged to make the best use of their many and varied abilities. The Schools look to establish and maintain high moral standards within a clear framework. The Schools provide a structure wrthin which skills are learnt and knowledge gained so that pupils may achieve the best academic results of which they are capable. The Schools aim to prepare pupils to flourish as adufts in a rapidly changing world. The Schools also aim to provide a rich mixture of experiehces for pupils to develop sporting. artistic, leadership and other talents alongside their academic achievements. They encourage pupils to develop an awareness of their individual strengths and to make full use of them. The Schools encourage the development of the qualities of self-discipline, self-confidence and independence whilst creating a community in which all members care for each other as in a family. They also emphasise the interdependence of the individual and the community at local, national and international levels and encourage pupils to show care and concern for others. At the heart of these aims is a concem for each pupil's welfare, for their positive development as an individual and as a member of the Schools. community both inside and outside the classroom. This development is to be within an orderly, safe and supportive community in which all members feel comfortable and acl wbth consideration and respect for other people, themselves and the environment. The Schools are committed to safeguarding and promoting the welfare of pupils and expect all staff and volunteers to share this commitment. The Schools have an excellent reputation for the pastoral care provided to pupils. Parents are given regular information about their children's social and academic progress through parents. evenings in addition to regular grading and annual reports. The Schools maintain regular contact wrth parents Ihroughout the year through informal contacts and through newsletters and events. The Schools provide a pastoral system wilh the staffing, skills and experience to meet the needs for attention and support of every individual child. The role of the Director of Teaching & Learning is to link the Schools. concem for pupils, pastoral care and their academic development. The role of the Director of Pupil Wellbeing is to ensure Ihat pupil welfare is at the centre of our work. In the Junior School, the Head is supported by Ihe Deputy Head, phase leaders and pastoral leads whose responsibilities are for the academic and pastoral Page 4
Docusign Envelope ID.. 8DOAIA05-19W3BFAC74-FE066542D8A2 Dame Allan's Schools IA Gompany limited by guarantee) Governors. report (continued) Year ended 31 August 2024 oversight of pupils in their care. The Schools also make use of the services of exiernal counsellors, an in-house psychological therapist and the chaplain who base their work in 'The Snug, a purpose-built facility for pupil wellbeing at the Senior Schools, and the 'Cosy Snug, at the Junior School. Senior pupils also provide support for younger pupils, both as form prefects and mentors, and also as students who complete the S¢h¢)ols' in-house listening skills and peer-mentorin9 courses. The Schools policy on admission states that they seek to select pupils of academic potential irrespective of any protected characteristics. Entrance examination and interview procedures are arranged to ensure that no applicant is disadvantaged. Special arrangements are made in advance of examinalions or inteNiews for any applicant who has a disability including the provision of extra time for applicants who have a recognised specific leaming difficulty. Arrangements are discussed in advance with the parents and the current school of the candidate. Relevant specialist reports are sought in advance of entrance examinations and inleniiews where appropriate, Once admitted to the Schools, all pupils and staff are offered opportunities in accordance with the Schools. policy which stales that the Schools are committed to securing equality of opportunity through the creation of an environment in which all individuals are treated on the basis of their relevant merits and abilities. The Schools oppose all forms of unlawful or unfair discrimination towards any members of the Schools, community on th8 grounds of any protected characteristic, and aim to ensure equal treatment for all. The Schools promote the concept of equality of opportunity throughout Ihe organisation. both for staff and pupils. The Schools are also committed to promoting the health, welfare and safety of their pupils both by ensuring that safe recruitment policies and practices are followed with regard to all slaff - teaching and support and also by maintaining and further developing the Schools, pastoral care. STRATEGIC REPORT Public beneflt All education provides public benefit in enabling young people to grow into successful. civic-minded contributors to society throughout their adult lives. Further to this, Dame Allan's admits a significant number of pupils on means-tested bursaries, children whose families would not be able to afford the fees and who are therefore provided with the highest quality of education at no cost to the taxpayer. In 2023124 means-tested fees remissions amounted to 10.3% of gross fee income, assisting 147 pupils in total. Leavers go on to achieve many things, forging careers and building communities, adding to the civic capital of our country to the benefit of wider society. The Schools also engage in a significant number of partnerships with local charities, grassroots organisations and schools, enabling access to the Schools, facilities and teaching expertise, for instance. Examples of Dame Allan's Schools, public benefit are woven through this report, much as it is through the life of the Schools and their integral place in the local community. Economic As well as the public benefrt summarised above and detailed through this report, Oame Allan's provides a substantial economic benefit to the city of Newcastle and the surrounding region, as well as the national economy. Calculations from the Independent Schools Council estimate that in 2023124 Dame Allan's Schools, total contribution to national GDP was £29.8mn through direct and indirect channels., 1.267 pupils were educated at no cost to the state, providing a direct saving of £8.4mn to the taxpayer, addrtionally, tax which was paid directly and indirectly as a result of our activities came to a total of £9.6mn. The local economy was supported by direct employment of an average of 218 staff over the year, the substantial majority in higher-ineome roles, with an additional 332 jobs supported nationalw through suppliers and the Page 5
Oocusign Envelope ID: 800A1A05.19BY3BF-AC7*FEO86542D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 expenditure of staff incomes. The Schools, situation in the west of Newcastle, a local authority recently ranked 36th most income4eprived of 316 in England, means that they are bordered by wards in the 100/0 most income- deprived in the country. Many pupils on bursary assistance live in these wards. within walking distance ot the Schools. The economic and social benefits of the Schools are felt well beyond the walls through the employment, education and partnerships that are the hallmark of Dame Allan's. Pupil numbers and feos Our educational activities are carried out through our Senior Schools, Sixlh Fomi and Junior School. Pupil numbers in the Schools continue to grow.. the current roll of 1,288 showing 0.80/0 growth on the 2023124 average figure of 1,287 and a 2.$0/o growth from the 2022123 figure of 1,257. The growth in pupil numbers has been evident across the Schools, with the Junior School close to rts capacity of 320 pupils and a marked and very encouraging continuation of grovAh in girl pupil numbers despite the extensive provision for girls in the Newcastle independent school sector. The Govemors are conscious of the pressures on parents to meet fees and have continued to ensure that any rises are kept to the minimum possible. The fees are therefore set at a level to ensure the financial viability of the Schools and at a level that is consistent with our aim of provtding a first-class education to boys and girls. The tuition fees for the academic year 2023124 were £5,333 per term in the Senior Schools and in Ihe Junior School £4,333 (Key Stages 1 and 2) and £3.974 (Early Years) per term respectively. Pupllg, academlc progress Academically, Dame Allan's pupils have continued to achieve excellent outcomes across both A Level and GCSE. A broad and challenging academic curriculum ensures that all pupils thrive, both in relation to their individual starting points (value-added) and in national benchmarks. Academic developments focus on meeting the needs of every individual learner, inspiring and expecting their best, challenging and supporting as needed. in order to encourage inquiry. aspiration and determination. Whether future doctors or dancers. every child is supported to achieve excellence in their chosen field. A key area of focus is raising th8 sights of all pupils, exposing them to valuable experiences and opportunities through trips, guest speakers and the co-curricular programme. Beyond public exams, pupils across the Junior and Senior Schools have shone individually. In the Junior School, Year 3 pupil won a gold award in the Primary Engineer competition, one of just three in the country. The challenging Extended Project Qualification IEPQI saw 650/• of students achieve an A or A. grade, and pupil participation in challenging academic 'extras' including public speaking, enleiprise projects, and the popular Politics and Economics societies, continued to grow and thrive. At sixth form. A Level students successfully secured places al prestigious dance and music conservatoires, as well as for the most competitive courses in medicine, denlislry and veterinary science, and at Oxford and Cambridge to read engineering. natural sciences, history and chemistry. Page 6
Docu$lgn Envelope ID.. 8DoA1Ao&1983BF-AC7FE0065I2D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 A Levels A Level results were pleasing wrth an especially strong A. proportion of 220/0 of total grades. Of our 313 A Level exam entries sat by 102 candidates. 41'h were graded at A'IA and 709/0 at A".B. Dame Allan's 0/0 cumulative results at each grade, last six years.. 2018 2019 2020 2021 2022 2023 2024 24.4 56.7 83.3 94.4 34.5 65.2 87.5 96.6 52.5 81.9 96.8 99.6 54.7 83.6 94.2 98.9 55.6 83.9 95.6 99.2 48.1 74.6 90.4 98.3 40.9 70.3 92.0 98.1 98.9 99.4 100 100 100 99.7 99.7 19.5 24.8 22.8 16.9 21.7 2020 and 2021 were sch<>ol-assessed grades. With A Level grades having retumed to 2019 standards in 2023, cent results have provided a more stable basis for understanding Ihe national picture and the Schools, perfomiance against that. Across England. A. grade awards rose to 9.3 /• (from 8.6 % in 2023., 7.70h in 20191 and A'IA rose to 27.60A {from 26.5Qh in 2023., 25.20/9 in 20191. In the north east, 23.90/0 of grades were at A'IA. Against national and regional comparators, Dame Allan's A Level resulls were excellent again in 2024. Maths was a standoul subject with nearly 35°h of all grades across Maths and Further Maths A Levels being at A.. GCSE8 In this year group with 1429 GCSE entries, nearly 601 of entries were awarded grades 9 to 7 overall, with just over 800h at grades 9 to 6. Of our 154 candidates, 36 gained all grades 9 to 7. Dame Allan's 0/0 of results at grades 9 to 7, 188t six years.. Girls % grade 9-7 63,4 76.7 77.9 76.4 Boys °/0 grade 9-7 53.7 67.7 60.7 67.0 58.0 53.7 Combined % grade 9-7 58.1 72.1 68.8 71.2 60.7 59.3 2019 2020 2021 2022 2023 2024 66.3 2020 and 2021 weTr school-assessed grades. As with A Levels, GCSE grades returned to 2019 standards in 2023, meaning that the Schools have had a more stable basis for understanding the national picture and exam performance against that. Across England, results at grades 9 to 7 rose to 22.60/0 (from 22.40/0 in 2023, 21.80/0 in 2019),. in the north east, 17.80/0 of results this year were at grades 9 to 7, the lowest regional outcome in England. The independent sector nationally achieved 48.40/0 grades 9 to 7 {47.5Q/o in 2023, 470/0 in 2019). Against national and regional comparators, Dame Allan's GCSE results were e*<remely strong again in 2024. As at A Level, among larger subjects, Mathematics was again a standout subject with nearly 750A of grades at 9- 7 and 25% at grade 9,. History and German results were also particularly strong, as well as those in Biology and Chemistry. Page 7
Oocusign Envdope 10.. 8DOA1AOS-19B543BF-AC74-FE066542D8h2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 Puplls, personal development and welfare Dame Allan's pupils develop into happy, successful and well-adjusted young adults, with the èichools aiming to nurture the 'whole child, during their time in education. Much progress has been made over the last year in ensuring that the Schools are meeting the needs of all pupils as individuals and helpin9 them to realise their personal development potential. Dame Allan's has always been forward-lhinking when it comes to pastoral care,. it was the first independent school in Newcastle to employ a dedicated counsellor over 20 years ago. Going foward, the Schools will persevere wtth their goal lo be at the forefront of delivering industry-leading pastoral care. The new senior leadership role of the Director of Pupil Wellbeing has been key in focusing resources and driving systematic reviews of our Personal Social Health and Economic Education {PSHEEI programme., expansion and restructuring of counselling and psychotherapy services,. an increased focus on wellbeing in our Designated Safeguarding Lead$ training,. and increasing use of systems to gauge wellbeing. among many other things. Within both the Junior and Senior Schools, care has been taken to ensure pupils have a safe and welcoming space lo support their pastoral needs. This year. The Cosy Snug in the Junior School opened, following the success of The Snug at the Senior School. These welcoming spaces offer a relaxed and private setting for pupils who access SEND support, counselling and psychotherapy, as well as the support of the Schools, therapy dogs, Heidi and Poppy. Pupil-led initiatives have also shaped pastoral offerings, most recently suggesting that an 8nonymous whistleblowing seNice would enhance opportunities for logging pastoral concerns. This led to the development of the initiative 'Whisperf, where pupils can text or email concerns to the pastoral team anonymously. Pupils suggested that il could be used for a wide range of concerns, from being worried about a friend not eating enough, lo noticing themselves or oth•r$ feeling down after minor friendship issues. As well as keeping the mind healthy, pupils are encouraged and supported to keep their bodies healthy. Physical exercise and other co-curricular activities have long been a mainslay for our pupils. The Schools have recently added significantly to their already broad and high-qualily co-curriculum, creating a new senior leadership role dedicated lo the management of Ihis key part of our offering, the Director of Co-curriculum. who has been able to lead our enhanced and expanded programme to the benefit of every pupil. Pupils are encouraged to take part in at least two co-curricular activities and the spirit of 'trying something new, is very much ingrained in the Dame Allan's culture. Sport: in sport, a significant number of pupils were successful in achieving selection at county, regional and national levels. This success was seen across the Junior and Senior Schools, with the U9 boys football team enjoying an unbeaten season before winning the Newcastle City Cup, and the Senior School sending both boys and, for the first time, a girls, squad to the prestigious Rosslyn Park rugby sevens competition in London, following a surge of interest in girls, rugby. Other pupil success included a Sixth Former securing a rugby scholarship in the USA, several pupils being selected to play for the Newcastle Eagles basketball team. Ihe U14 boys basketball team reaching the national quarter finals, and the U15 boys football team winning the ISFA National Bowl. Rowing is a recent innovation with plans to continue expanding the programme in the years ahead, working with our partner Club Tyne United to invest in equipment and expanded coaching capacity in 2024125. Outdoor Education: many pupils were active in the wider area of outdoor pursuits. As well as offering the John Muir Award for younger pupils, the Schools remain the biggest single centre for the Duke of Edinburgh Award in the whole of Northumberland and Newcastle, allowing pupils to test qualities of personal organisation. physical fitness and resilience whilst also developing their skill sets and making a contribution to the good of society through the community sepiice element of the award. Opportunities to explore new activities and develop new skills closer to home were again provided by the Schools, CCF (RM) detachment, which is filled to capacty. In the Senior School, a pair of determined brothers qualified for the British Obstacle Sports nalional team - crediting the support of the Outdoor Leadership Education Department in building their confidence to compete. Drama and Public Speaklng: Public speaking and the Schools. drama programme are both nurtured through Page 8
Docusign Envelope ID.. 8DOA1A05-1985438F-AC74-FEO86542D8A2 Dame Allan's Schools (A company limlted by guarantee) Governors. report (continued) Year ended 31 August 2024 activities such as the annual Shakespeare Festival. the public speaking competition and the Schools, LAMDA provision. A wealth of school productions, from the Senior School production of Disnels High School Musical, through to the Junior School's Nativty, all form a part of the range of opportunities for every pupil to take part. Co-curricular drama clubs also offer pupils the chance to stretch their creative muscles and perform. Additionally within the co-curriculum. debating has become increasingly popular, alongside the introduction of the Model United Nations, engaging pupils to learn more about the principles of the UN and how it functions. Dance: Dame Allan's Schools have an exceptional reputation for their dance provision. Dance has long played a cenlral role in the performing arts at Dame Allan's, as is evident from the success of alumni in the world of dance with leading roles at the Rambert company and the London Contemporary Dance School. Pupils begin to leam dance in the Junior School. taking part in performances at the Senior School along with other local primary schools. In the Senior School, pupils enjoy dance as part of their games curriculum, with the option to study it further al GCSE and A Level. This year, Iwo Y13 students successfully secured places at the prestigious Northern School of Contemporary Dance. Music: Music al Dame Allan's is embedded from the youngest years, with all ages being encouraged to try an instrument. Both Junior and Senior pupils take part in a myriad of performances, such as Jazz Nights, Evensong in the local church, Drivetime Concerts, Carol Services, a pupil-led music festival and more. At Ihe Senior School, regular lunchtime 'Live for Five, events encourage pupils lo choose their own song to perform in front of their peers, helping to build confidence and demonstrate the talented musicians within the Schools. However, musical participation is encouraged at all levels, with both novice and experienced pupils supported to get involved with music. Recent successes have seen students go on to study music at renowned institutions, such as the Royal Conservatoire of Scotland. Communlly: The period has seen significant donations to a number of charities, with almost £10,500 raised during the period covered by these accounts. Thanks to various fundraising activities in both schools including non uniform days, 'bake offs,, and social enterprise activities, donations were able to be made to many local and national charities including Children in Need, Comic Relief, Macmillan Cancer Support. Smile for Life, The Goodwill School in Africa and St Oswald's Hospice. Pupils also donated towards several food bank appeals, and Sixth Form students gave their time to volunteering within the local community at schools, care homes. hospice5 and more. The Governors also wish to thank Dame Allan's Parents, Association and Junior School Parents, Association for their valuable fundraising work. Staff capacity Dame Allan's employees are well-qualified and motivated teachers, support staff and managers, all of whom work logether effectively in order to provide excellent education and pastoral care, high-class facilities and support services. and effective leadership of the Schools. Effective recruitment processes and attractive terms of employment enable the Schools to attract Wellu811fIed applicants. Well-resourced and targeted training, mentoring, staff appraisal and incentives encourage staff to engage in ref]ective practice and continuous processes of professional and career development. Career development opportunilies and incentives promote relention of key staff in competitive recruiting markets. Dame Allan's Presents a positive, inclusive and supportive work environment. The attraction of working in teaching or support roles at Dame Allan's remains strong with high numbers of qualified candidate5 applying for advertised roles in mosl areas, aided by further promotion from the communications team. A significant proportion of teaching staff are also able to develop their careers while working al Dame Allan's with nearly half of those who move to new posts, extemally and internally, achieving promotion in their move. The Governors wish to thank all staff at Dame Allan's Schools for their dedicated work and enthusiastic contribution towards ongoing developments, Demonstrating professionalism and commitment, staff have tirelessly sought lo meet the needs of pupils. Page 9
Docusign Envelope ID.. 800A1AOS-19B543BF-AC74-FE068542D8A2 Dame Allan's Schools IA company limited by guarantee) Governors, report (continued) Year ended 31 August 2024 Marketing, admissions and communlcations Dame Allan's continues to market itself stTrra egically to ensure it-is recognised by prospective families as a leading independent school in the North East, and a great choice for their child. Recent campaigns have focused on the breadth of the co<urricular offerings, including showing real pupils taking part in activilies they enjoy, including: drumming, basketball, food tech, cricket, and compuling. A mix of digital, print, and out-of-home placement ensured that the Dame Allan's brand was at the forefront for prospective families. This is supported by a robust programme of public relations activty. including the creation of edrtorial features, 'good news, stories shared with local press, the creation of compelling video content, and social media activity. Video production is an increasingly large part of planned communications aclivrty. Recently, coverage has been achieved across local print press, including the Newcastle Chronicle, LUXE Magazine, Northem Insight Magazine, ITV, and BBC Radio Newcastle, with results day-specrfic stories often being shared in the national press. SuNeys and feedback from a wide range of stakeholders, including leavers and parents who chose other schools help to infomi marketing and communications strategy. Brand management, marketing and communication plans are in place to continuously raise Standards. The success of this department, within the context of the wider successes of the Schools, means that demand for places has been strong in recent years and, over the longer term since the impact of the 2008 global financial crisis, pupil numbers have risen across the Schools by almost 45VA. Demand remains strong with waiting lists at some entry poinls. Retention at the key transition points in Years 6 and 11 remains high, indicating Ihat pupils and their families are satisfied with the quality of the educatlon provided. Development - fundraising, alumnl and partnerships Dame Allan's engages with alumni, parents, partners and potential donors such as individuals, trusts and foundations, forging beneficial relalionships to secure the future development of the Schools. 2024 saw the Schools, first ever 'Giving Day, event. which was designed to encourage fundraising for the Bursary Fund. This event, which spanned the Junior and Senior Schools. raised £84,000 to support pupils via bursary awards. A series of Allanian profiles across Dame Allan's communications channels have helped strengthen the link beeen alumni and the Schools. as well as a strong programme of Allanian events including an annual dinner, London Drinks, and reunions. External parties undersland the case for giving towards a range of Dame Allan's objectives, and the support and activities of our associated parent and alumni bodies align with school planning and objectives. A prominent example of alumni success is The Lectures, a high-profile speaker series that is funded and supported by an Allanian, designed to inspire pupils from Year 9 to Year 13. This series sees renowned figures in business, inspirational speakers and other notable guests take to the stage al the Senior School to deliver an inspiring talk on their lives, elhos and success. Recent speakers have included.. business magnate Jonathan Warburton, chairman of family bakery firm Warburtons., inspirin9 entrepreneur Jo Fairley, founder of Green & Black's chocolate brand and Brrtain's youngest-ever magazine edrtor,. and passionate historian Lucy Worsley OBE. Chief Curator at Historic Royal Palaces and famed fd presenter. Bursarles and scholarships Dame Allan's works to ensure bright children are able to access a top-class education, regardless of financial background, via the Bursary Award scheme. This scheme is open to applicants from Year 7 upwards whose parental circumstances are such that they would not be able to attend the Schools without such an award. These awards are means tested and applicants must satisfy the Schools, entrance criteria. Bursaries are tenable throughout a child's school career, subject to satisfactory work and conduct under annual review. Applicants for the Sixth Form are eligible for a Don Walker bursary, which is offered initially to our current Page 10
Oocuslgn Envelope ID,, 8DOA1AOS-19B5438F-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 students whose parents fulfil the same criteria as our regular bursary holders and then to the wider public. Bursaries are offered according to parental means, Ihe assessment of which considers a number of factors, including family income, investments, propety, savings and family circumstances. Awards of up to 100% of fees are available. The Schools, bursary awards also support current pupils whose place in the Schools might be in jeopardy as a consequence of changes in family circumstances, such as parental illness or redundancy. The Schools also offer academic scholarships lo senior school applicants-to a maximum of 50°/o of fee remission-in order to recognise high academic potential. plus music scholarships to support talented musicians with the cost of music lesson5. Academic scholarship awards are based on results achieved in the Schools, entrance examinations. Fee remissions are also available to the third and subsequent children of any family educated in the Schools, in order to underline the value we place on family links. A scheme also provides fee reductions to children of all staff emplayed by the Schools. The Governors view bursary and scholarship awards as important in widening access to the education the Schools provide. The Governors regularly review the Schools, bursary awards policy to ensure that children can accept offers of places at our Schools through the availability of means-tested fee assistance. The number of bursary applications for the 2023124 academic year continued to increase and, as a resutt. 15 bursary offers were accepted by pupils who joined the Schools in September 2024. Research by the Independent Schools, Council also indicates that Dame Allan's bursaries are providing education for pupils whose circumstances are such as to make paying for education an impossibilrty without such support. The Schools are delighted that. with the support of generous donors to our bursary campaign, they can remain true to the traditions of'good education" which our Founder established some 320 years ago. For the year ended 31 August 2024, the value of means tested bursaries totalled £1,884,069 (31 August 2023 - £1,854,393) and represented 10.30/0 {2023 - 11.0°/o) of our gross fees. They provided assistance to 147 Of 11.60/0 (2023 - 169 or 13,4D/o) ol our pupils of whom 69 {2023 - 72) pupils benefi'tted from 'high level bursaries, (defined as being a fee remission of over 900AI. Given the independent sector average of 1Qh of all pupils being in receipt of such bursaries, the Schools are making a significant contiibution to social mobility through this scheme. During the 2023124 academic year, 160 pupils12023 -173 pupils) were in receipt of a scholarship, awarded for their educational merit and potential. Of this number 56 (2023 - 59) also qualified for means-lested bursary support and are included in the figures relating to bursary awards. The progress of pupils receiving scholarships is reviewed at least annually to ensure their progress is in line with their abilities. One scholarship was withdrawn in the year as a result of review. Facllities and Infrastructure The Schools continue to develop facilities and infrastructure in support of our educational offer and effective management of the Schools, most recently with the extension and refurbishment of the sixth form building, The Queen's Building. This enabled the addition of new classroom spaces. a silent study area. meeting room. study pods. group space, and a very popular café area. Dame Allan's offers functional and inspiring spaces for teaching, study, assembly, performance and exhibition. They also offer high quality sports facilities that enable elite programme development as well as wide pupil participation. The Schools, physical presentation, facilities and development plans support pupil admissions at all times and we aim increasingly to use our facilities as a source of revenue, for example, via renting to half-tem camps, to support our partnerships and to help keep our fees sustainable. The most significant development of the last ten years was started in September 2021 and completed in time for the start of term in Seplember 2022 - the Jubilee Building. This project. to provide state-of-the-art facilrties with a new block of classrooms. laboratories, an art suite and gallery, offices and other facilities, has transformed the north end of our Fenham site. Plans for further development on the Fenham srte includes replacement of the astro pitch with a larger upgraded facility, including new netball courts and improved parking provision. Page11
Docuslgn Envelope ID.. 8DOAIAOS-19BS43BF-AC74-FE066542D8A2 Dame Allan's Schools IA company lirnited by guarantee) Governors. report (continued) Year ended 31 August 2024 Structure, governance and management tonstitution Dame Allan's Schools, the charitable company, was incorporated on 26 May 2000. It is governed by Articles of Association last amended on 20 October 2022. Method of appointment or election of Governors The Governing Body consists of a minimum of ten Governors, being one ex officio Govemor - The Dean of Newcastle - and al least nine co-opted Governors each serving lor a term of up to five years. They can be re- elected and a Governor may be reappointed for a maximum of two consecutive terms of office. The Governors are Trustees of the Charitable Body. On joining the Board all Governors receive an induction and undergo appropriate training to ensure their understanding of their roles and obligations under chanty law. guidance and codes, in order to act in the besl interests of the charrty. The co-opted Governors are co-opted by th8 8XlSting Governors. Pay policy for senior Staff The Remuneration Commitlee reviews the pay of the Senior Management Team on al least an annual basis taking into account current pay scales and benchmarked information for schools of a similar size and location. Organisational structure and declslon making The Governors and management identify and prioritise strategic objectives for the devolopment of Dame Allan'$ Schools. Governors also monitor. verify, support and challenge management progress towards strategic objeclive5 and Ihe senior management team provides effective development and operational leadership towards meeting strategic objectives. The Governing Body is supported by the following committees: Finance Committee - responsible for the sound management and control of Ihe Schools. finances Nominations and Governance Committee - responsible for identifying and nominating for the approval of the Governing Body candidates to fill Governor vacancies as and when they arise and to ensure governance processes and standards are in line with best practice. Education Committee responsible for reviewing all matters of the Schools, education provision including academic, pastoral and co-curricular. Remuneration Committee - to meet at least annually to reliiew the pay of senior staff. A Governor also sits as a representative on the Schools, Health and Safety Committee. Governors meet thr88 times a year, at least once a temi, as a full Governing Body with the individual committees also meeting three times per year, save for the Remuneration Committee which meets at least annually. A key development in the governance of the Schools has been the creation of a strategic plan, with associated performance indicators, and regular, focused, reporting structures. A full review of the Schools, governance was conducted in 2022 by the Association ol the Governing 8odies of Independenl Schools (AGBISI in order to ensure that our structures and practice are at the standard of the best in the sector. Improvements have taken place in governor recruitment and induction processes. This year, among other work to enhance the quality of the Schools, governance, the board has adopted and adapted Ihe AGBIS governance manual in order to formalise govemance arrangements. Governor training has been frequent, regular and focused on the key roles and responsibilities of governors and trustees, including in the safeguarding of children. Governor5 have increased their awareness of issues and involvement in school lrfe through a variety of means such as lesson visits, department links and specific link governors for safeguarding and pupil wellbeing, and health and safety oversight. The Governing Body regularly reviews its own mix of experience, skills and diversty. Page 12
Oocuslgn Envelope ID.. 8DOA1A05-1985438F-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 The Schools are moving towards environmental sustainabilty. A programme of installation of LED lighting across both sites is ongoing and the new Jubilee building has been designed with PIR sensors to further reduce the Schools, energy consumption. A ground-source heat pump is in operation at the junior school and both sites make use of photovoltaic panels, with additional panels recently added to the Jubilee Building and further panels planned for the senior school in the near future. There is more that can be done and improving our environmental sustainabilty has been set as a strategic objective of the Schools. The recent appointment of a Facilities Manager will help to increase focus on this key issue and to reduce our impact on the environment as well as reducing costs. Engagement with staff and equal opportunities The Schools are an equal opportunities employer and all qualffied applicants for job roles receive equal consideration. When recruiting staff the Schools look to appoint from a wide variety of backgrounds and are, committed to creating an inclusive and diverse school culture. The Schools work with all staff lo ensure appropriate training is provided and adjustments are made should an individual's circumstances change during their employment, and that ongoing Iraining. development and progression is available to all. Consultation with employees, or their representatives has continued at all levels wrth the aim of taking the views of employees into account when decisions are made that are likely to affect their interests. Employees are made aware of the financial and economic performance of the Schools. Related party felatlonshlps Dame Allan's Schools has no trading subsidiary company. The charitable company is Ihe trustee of, or is required to manage, the Dame Allan's Development Trust {'DADT') which has been linked by the Charity . Commission for administration and reporting purposes. Page 13
DocusSgn Envelope10: 8DoA1A05-1963BF-Ac74-FE088S42D8A? Dame Allan's Schools IA company Ilmited by guarantee Governors. report (continued) Year ended 31 August 2024 FINANCIAL REVIEW The Schools, day-t(aY charitable activities are self-funded. l-he Schools, tee Income lor Ihe 12-month period was £16,453,550 {31 August 2023 £14.895,739}. Overall a net surplus, before gains and losses on investments, of £273,93312023 £256,126) is reported for the period. The net cash inflow from the Schools, operating activities for the financial period was £3,062,084 compared to a net inflow for the previous year of £1,427,559. Going concern At the balance. sheet date, the charitable company had a net current liability posltion of £275,648 {2023.' net assets of £235,760>. The net current liability position has arisen due to fees in advance for 2024125 being received before the year end and reflected as deferred income. The Governors have prepared forecasts for the future activities of the charity covering a period of at least 12 months from the date of the approval of these linancial statements, which show the Charity continuin9 to operate within available facililies. In addition, longer term scenarios have also been modelled which include evaluating the longer term impact of the introduction of VAT on fees, the loss of Business Rates Relief and increases to National Minimum Wage, National Insurance Contributions and contributions to the Teachers Pension Scheme. In 2011, the Governors secured a 25 year mortgage facility from Lloyds bank for the development of the Junior School and in 2022 have secured a further facility for the development of the Jubilee buildin9 on the senior school site. The Schools continue to maintain close contact with the bank which has indicated that required levels of support will be available to meet the Charity's ongoing financial requirements. The Governors Ihérefore believe that the Schools have adequate resources in place to continue in operational existence for the loreseeable future and consequently the going concern basis has been adopted in preparing the financial statemenls. Reserves Note 21 to the financial statements shows the assets and liabilities attributable to the various funds by type. describes the various funds and summarises the year's movements on each fund. Unrestricted funds amounted in total to £13,134,573 however. this is not freely available because funds in excess of this figure are invested in fixed assets. Free reserves amounted to a deficit of £7,930,355 as at 31 August 2024 (2023 - deficit of £6,898,608). Free reserves, after laking into account amounts invested in fixed assets and the loar)s taken out to develop those assets amounted lo £772,614 (2023.. £2,073,280). Thi5 is calculated on the following basis.. 2024 2023 Unrestricted funds Unrestricted tangible fixed assets Funded by loans (per note 18) 13,134,573 12.623,314 121,064,927) (19,521,922) 8,702,968. 8.971,888 Free reserves 772,614 2,073,280 Page 14
Oo¢u$ign Envelope ID.. 8DOA1A05-198>438F-AC74-FE06654208A2 Dame Allan's Schools (A company Ilmited by guarantee) Governors. report (continued) Year ended 31 August 2024 The Governors, objective is to maintain reserves that will permit them over time to maintain, develop and enhance the Schools, facilities in order to meet the Schools, long temi charitable objectives, whilst at the same time maintaining turtion fees al a reasonable level. To that end, the Governors aim to ensure that there are sufficient reserves to afford reasonable protection to the charitable company in the context of current and anlicipated commitmenls and exposure to identified risks. The Schools. land and buildings are stated in the financial statements at historic cost. However the Governors consider the current valuation of these assets to be in excess of this. The Governors review the reserves position regularly and consider the current position to bè salislactory. Investment powers pollcy and performance The Govemors, investment powers are gov8med by the Articles of Association. The Govemors have delegated the management of the investment portfolios to Brewin Dolphin Limited and Rathbones Inveslmenl Management, but appraise their perfomance at regular intervals., Ihe Governors, policy is to maintain income to fund bursaries, while preserving the market value of the investments. Rlsk management The Governors are responsible for the management of risk faced by the Schools. Risks are identified, assessed and controls established throughout the year. A formal review of the risk management process is undertaken annually. Areas covered are.. Governance and management,. Operational risks., Financial risks., Environmentallexternal factors- Compliance (laws and regulations). The key controls used include.. fomial agendas for all Board and Committee meetings: terms of reference for all Governors, Committees., comprehensive strategic planning, budgeting and management accounting., formal written policies., clear authorisation and approval levels,, and verification procedures as required by law for the protection of children. As a result of the risk management process, Governors are satisfied that the major risks identified have been adequately mitigated where necessary. The principal, risks facing the Schools are set out below. It is recognised that systems can only provide reasonable bul not absolute assurance that major risks have been adequately managed. Prfnclpal rlsks and uncertalntles Government pollcy changes wlth respect to independent schools. taxatlon Until 2024, the most significant risk facing the independent schools sector was the potential for future government policy to remove the tax reliefs associated with Charitable status, including for business rates and corporation tax, and to remove the VAT exemplion for school fees. Wrth the change of government in July 2024 and subsequent budget in October 2024, these risks have become real in the form of VAT on independent school fees and associated services from January 2025. and the removal of charitable business rates relief from April 2025. The impact of these policies has not yet been fully felt but are significant in their financial impact on the Schools and will require measures to ensure financial sustainability in the medium and longer term. The Schools have commenced a process of review and prioritisation before any significant decisions and implementation plans are made. The Schools will continue to manage finances prudently, with due regard lo political and financial risks. to monitor political developments closely, and to formulate detailed plans with Page 15
DOcusn Envelope 10.. 8DOA1A0&1985438F-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee Governors. report (continued) Year ended 31 August 2024 necessary measures as and when any further policy decisions are made. Income generationlpupil numbers Along with other school8 in Ihe independent sector, one of the principal risks that the Schools face lies in a failure to grow or maintain pupil numbers. The affordability of private education remains a concern for many parents and the Governors are extremely conscious of this issue,. they carefully review all fee increases and provide bursary awards to the extent funds permit. Pupil numbers, including trend analysis in pupil applications and retention, a5 well as the levels of bursary and scholarship awards made, are reported on a regular basis to the Governors. All were pleasingly positive during Ihe period. The Schools, strong reputation for academic excellence and pastoral care attracts a significant level of applications for the places available in the Schools. The Schools manage any risk to this reputation by employing and developing highly skilled staff, by following effective safeguarding and staff recruitment policies. by providing high-quality pastoral support for both pupils and staff and by their active identification and resolution of health and safety-relaled issue5. Changes to employer contribution rates to the Teachers, Pension Scheme In 2019, as a result of a quadrennial valuation of the Teachers, Pension Scheme ITPS>, contributions by employers increased by 430/0, from 16.480/0 of salary lo 23.68 %. The latest quadrennial valualion of the scheme resulted in a further increase in conlributions from 1 April 2024 to 28.68•/0, making an overall increase in the contribution rale of 740/0 since 2019. As an independent school, Dame Allan's has no access to ongoing financial government support. Funding is therefore not available lo us to meet any of our costs, including those relating to teachers, pensions. Previous increases in employer contributions have therefore required funding from existing school budgets, as would be the case again in any such revaluations in the future. The Schools have therefore engaged in consultations with staff to introduce a teachers, defined contribution pension scheme, which existing staff are eligible to join and new staff are offered upon joining the Schools. Arrangements in place now limit the risks to the Schools of further adverse contribution Changes through consideration of funds for any future increases in TPS ontributions as part of members, total remuneration, Capllal development The Schools, premises consist of various buildings dating from the 1930s to the more recently built Junior School at Hunter's Moor and the new Jubilee Building and refurbished Queen's Building on the Senior School sile. Along with academic excellence, the quality of facilities available can be a major decision factor for prospective parents choosing a school for their child's education and it is therefore important that the Schools conlinue to invest funds in this area. An ongoing programme of work is in place to refurbish the older parts of the Schools and to create new facilities. As a charity, the challenge always exists lo ensure that the Schools remain financially sound. The Senior Schools were built in the 1930s and the Governors look lo manage the risk of their not being suitable for bNenly first century education by a pr¢xess of planned redevelopment to meet the Schools, needs. Whilst demands on the Schools, financial resources are varied and are not always within the Governors. control (for example, recent increases lo the Teachers, Pension Scheme contribution rates have had to be funded from existing fee income), strong management of the Schools, income and expendrture has enabled the Governors to ensure there is sufficient fee income generated to cover both the day-1041ay running costs of the Schools and to invest in Ihe development of the senior site. Page 16
Docusign Envelope ID.. 800A1A05-198543BF-AC7*FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Governors. report (continued) Year ended 31 August 2024 PLANS FOR THE FUTURE Whilst, as always. continuing to focus on maintaining and increasing pupil numbers in the Senior Schools. the Schools. other main priority for the future is to continue to maintain the significant levels of investment in and redevelopment of the Senior Schools, site. The Schools are well regarded in the North East and with recent increases in pupil numbers, the Governors believe that the future outlook for the Schools remains extremely positive. Disclosure ol Informatlon to auditor Each of the persons who are Governors at the time when this Governors, Report is approved has confirmed that.. so far as that Govemor is aware, there is no relevant audit infomiation of which the charitable company and the auditors are unaware, and each Governor has taken all the steps thal ought to have been taken as a Govemor in order to be aware of any information needed by the charitable company and the group's auditors in Connection with preparing their report and to establish that the charitable company and the audrtors are aware of that information. The Governors. report, which incorporates the slrategic report, was approved by the Governors on 22 May 2025. Approved by order of Ihe Members of the board of Governors on 22 May 2025 and signed on their behalf by.. )y.' Co-i ec?7EE4567874FC.. Mr D Arthur {Chair of Governors) Page 17
Docusign Envelop• ID.. 800AIAo&198J8F-AC?&FEO66S42D8A2 Dame Allan's Schools (A company limlted by guaranlee) Statement of Governors. responsibilities Year ended 31 August 2024 The Governors (who are also the directors of Dame Allan's Schools for the purposes of company law) ara responsible for Preparing the Governors, report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting è>tancSards {United Kirtgdom Gènéraiiy Accepted Accounting Practice). Company law requires the Governor¥ to prepare financial statements for each financial year. Under company law. the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Governors are required to: select suitable accounting policies and then apply them consistently: obsetve the methods and principles of the Charities SORP {FRS 1021., make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards IFRS 102) 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 charitable company will continue in business. The Governors are responsible for keeping adequale accounting records Ihat are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any lime the financial posilion of the charitable company and enable them to ensure that the financial slatemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 18
Docusign Envelope ID.. 8DOAIA05-1985438F.AC74-FE06654208A2 Independent auditor's report to the members of Dame Allan's Schools Opinion We have audited the financial statements of Dame Allan's Schools (the 'charitable companw) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related note5, including a summary of 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 state of the charitable companls affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expendrture for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepled Accountlng Practice, and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Snternational Standards on Audrting (UK) ('ISAs (UK),) and applicable law. Our responsibilities under those standards are further described in the 'Audilor's responsibilities for the audit of the financial slatemenls, 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 United Kingdom, including the Financial Reporting Council'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 sufficienl and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audrting the financial statements, we have concluded that the Governors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the woTk we have performed, we have nol identified any material uncertainties relating to evenls or conditions that, individually or collectively, may cast significant doubl 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 Governors with respect to going concern are described in the relevant sections of this report. Page 19
Do$n Envelope ID.. 800A1AOS.19B5438F-AC74-FE066542D8A2 Independent auditor's report to the members of Dame Allan's Schools (contlnued) Other information The other-information-comprises-the-information included in the annual report other than the financial statements and our auditovs report thereon. The Governors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicrtly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial slalements or our knowledge obtained in the course of the audil, or Otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in Ihe 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 nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomiation given in the Govemors, report including the slrategic report for the financial year for which tho financial statements are prepared is consistent with the financial statements. the Governors, report and the strategic report have been prepared in accordance with applicable legal requirements. Matters on whlch w• ar• required to report by exception In the light of our knowledge and understanding of the charitable company and its environment oblained in the course of the audit, we have not identified material misstatements in the Governors. report including the strategic report. We have nothing to report in respect of the following matters in relation to which Cornpanies Act 2006 requires me to report lo you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by me- or the financial statements are not in agreement with the accounting récords and returns,. or certain disclosures of Governors, remuneration specified by law are not made- or we have not received all the information and explanalions we require for our audit. Responsibilities of Governors As explained more fully in the Governors, responsibilities statement, the Govemors (who are also the directors of the charitable company for the purposes of company law) are Tesponsible 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 Governors determine is necessary to enable th8 preparation of financial statements Ihal are free from material misstatement, whether due to fraud or error. In preparing the financial statements. th8 Governors 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 the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or lo cease opèrations, or have no realistic alternalive but to do so. Page 20
Docusign Énvelope ID.. 8DOA1A05-19B3BF-AC74-FE066542D8A2 Independent auditor's report to the members of Dame Allan's Schools (continued) Auditor's responslbllltles for the audlt of the flnanclal statements 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 audilorfs report thal includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee thal an audit conducted in accordance with ISAS (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 misslalemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud is detailed below.. We identified areas of law and regulations that could reasonably be expected lo have a material effect on the financial statements from OUT general and seclor experience and through discussions with the Governors and other management (as required by Auditing Standards) and from inspection of the charitable company's legal correspondence and we discussed with the Governors and other management the policies and procedures regarding compliance wilh laws and regulalions. We have communicated identified laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit. Firstly, the charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related charities legislation), and taxation legislation and we have assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial slatements. for instance through the imposition of fines and litigation. We identified the following areas as those most likely to have such an effect; health and safety, employment law, data protection, environmental law, safeguarding and child protection and certain aspects of company legislation, reco9nising the nature of the charitable company's activities. Auditing Standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we have not become aware of any actual or suspected non- compliance material to the financial statements. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularrties. including those leadin9 to a material misstalemenl in the financial statements or non-compliance with regulation. This Tisk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non<ompliance. The risk is also greater regarding irregularitie5 occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further descrtption of our responsibilities for Ihe audit of the financial slalements is located on the Financial Reporting Council's website at.. www.frc.o .uklauditorsres onsibililies. This description foms part of our auditorfs report. Page 21
Doatsign Envelope ID.. 8DOA1A05-19B543BF-AC74-FE066542D8A2 Independent auditorfs report to the members of Dame Allan's Schools (continued) Use of my report This report is made solely to the charitable-company's members,-as a body,-in accordance with-chapter 3 of Part- 16 of the Companies Act 2006. Our audit work has been undertaken so Ihat we might state to the charitable company's members those matters we are required to state to them in an auditorfs pOrt and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. •d by. 203A33eoE•g)441... Nicola Coleman 8Sc(Hons) 8FP FCA (Senior Statutory Audltor) for and on behalf of UNW LLP, Statutory Audltor Chartered Accountants Newcastle upon Tyne Dale: 22 May 2025 Page 22
Docusign Envelope10.' 8DOA1A05-198543BFAC74-FEO80542D8A2 Dame Allan's Schools (A company limited by guarantee Statement of financial activities (incorporating income and expenditure account) Year ended 31 August 2024 Unrestricted funds 2024 Restricted Endowment funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income and endowments from: Donations and legacies School fees Commissions and letting8 Investment income Other income. 80,421 16,4S3,SSO 21,944 138,489 2,057.069 133,492 213,913 16,453,550 23,585 143,747 2.057,069 113,731 14,895,739 22,696 76,366 1,666,559 1,641 5,268 Total Income and endowments 18,751,473 140,391 18,891,864 16,775,091 Expenditure on: Raising funds Charitable activities 65,740 18.392,627 65,740 18,552,191 72,646 16,446,319 1 $9,664 Total expenditure 18,458,367 159,564 18,617,931 16,518,965 Net gainslllosses) on investments 218,153 11,997 230,1SO (5,401) Net movement in funds 511,259 {7,176 504,083 250,725 Reconciliatlon of funds.. Total funds brought forward Net movemenl in funds 12,623,314 511,259 228,776 (7,176) 133,474 12,985,564 504,083 12.734.839 250,725 Total funds carrled forward 13,134,573 221,600 133,474 13,489,647 12.985,564 The notes on pages 26 to 49 fomi part of these financial statements. Page 23
Oocusign Envelope ID.. BDOA1A0&198543BF-AC74-FE066542D8A2 Dame Allan's Schools IA company limited by guarantee) Balance sheet At 31 August 2024 As restated 2023 2024 Note Fixed assets Tangible assets Investments 12 21,076,412 2,474,601 19,545.829 2.209,755 13 23,S51,013 21,755,584 Current assets Debtors Cash at bank and in hand 14 23 7,056,561 3,508,626 6.326,460 3,581,995 10,565,187 9,908.455 Credilors.. amounts falling due within onè year 15 110,840,835) {9.672.695) Not current (Ilabllltles)lassets 1276,648) 235.760 Total assets less current liabilities 23,275,365 21.991,344 Creditors.. amounts falling due after more than one year 16 19,785,718) (9,005,780) Net assets 13.489,647 12,985,564 Charltable company funds Endowment funds Restricted funds Unrestricted funds 19 19 19 133,474 221,600 13,134,573 133,474 228,776 12,623,314 Total funds 13,489,647 12,985,564 The financial statements were approved and authorised for issue by the Govarnors and signed on their behalf by.. SW•d by.. ec27EEd567974FC... Mr D Arthur (Chair of Governors) Date.. 22 May 2025 Company registered number.. 04002372 The notes on pages 26 to 49 fomi part of these financial statements. Page 24
DocusignEnvelope ID.. 8DOA1A05-1985.43BF-AC74-FE066542D8A2 Dame Allan's Schools (A company limlted by guarantee) Statement of cash flows Year ended 31 August 2024 As restated 2023 2024 Note Cash flows from operating activlties Net cash provided by operating activities 22 3.062,084 1,427,559 Cash flows from Investing activitleg Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Purchase of investments (net) 143,747 4,100 12,309,364) (1,883,714) 131,257 (28.105) 76,366 Net cash used In Invostlng actlvltles 12,192,774) (1,836,4631 Cash flows from financing actlvlties Cash inflows from new borrowing Repayments of borrowing Interest paid 2,349,619 (268,920) {244,147) 1673.759) {526,922) Net cash (used Inllprovld•d by flnanclng actlvltles 1942,679 1,578,660 Change in cash and cash equlvalents in the year Cash and cash equivalents at the beginning of the year 173,3691 3,581,995 1,170,656 2,411.339 Cash and cash equlvalents at the end of the year 23 3,508,626 3,581,995 The notes on pages 28 to 49 form part of Ihese financial statemenls Page 25
Do¢uslgn Envelope 10: 8DOA1AOS-198S43BF.AC74-FE06854208A2 Dame Allan's Schools (A company limited by guarantee Notes to the financial statements Year ended 31 August 2024 General Information Dame Allan's Schools are engaged in the provision of day schools tor girls and boys in or near the clty of Newcastle upon Tyne. Dame Allan's Schools is a private charitable company incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is Fowberry Crescent, Fenham, Newcastle upon Tyne, NE4 9YJ. Accountlng pollcles The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated. 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP ('FRS 102,) "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland <'FRS 102,) (effective 1 January 2019)" and the Companies Act 2006. Dame Allan's Schools meets the definrtion of a public benefit entity under FRS 102. The financial slalemenls have been prepared under the historic cost convention, with the exception of investments which are included al market value. The accounts are presented in pounds sterling and are rounded to the nearest pound. 2.2 . Prior year restatement The comparative figures, within the balance sheet, have been restated to increase debtors {fees owing from parents) and credilors (deferred income) by £5,760,484. This restatemenl recognises the debtor and creditor associated with invoices raised pre year end, for autumn term fee5. There is no impact on either the reported result or net assets for the prior year. 2.3 Company status The charitable company is a company limited by guarantee. The members of the charitable company are the Governors stated on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limrted to £1 per member of the charitable company. Page 26
Docuslgn Envelope ID.. 8DOA1AOS-19B543BFthC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 Accountlng pollcles (contlnued) 2.4 Golng concern In determining the appropriate basis of preparation of the financial slatemenls, the Governors are required to consider whether the charitable company can continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of signing of these financial statements. Th• Governors have performed this assessment. have a aSOnabl8 expectation that the charitabl8 company has adequate resource to continue to meet rts liabilities as they fall due for the foreseeable future and have prepared the financial statements on a going concem basis which is considered appropriate for the following reasons. The charitable company recorded a net surplus of income over expenditure in 2024 and has net assets at the year end of £13,489,647 (2023.. £12,985,564). The Govemors have prepared profrt and cash flow forecasts for a period in excess of 12 months from the date of their approval of these financial statements. The cash flow forecasts that the Governors have prepared are based on their current best estimate of demand for school places and the charitable company's expected cost base and show that the charitable company can maintain sufficient financial headroom and operate wrthin the currently available bank facilities and existing Covenants for the foreseeable future. 2.5 Income All income is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the rtems of income have been met, rt is probable that the income will be received and the amount of income receivable can be measured reliably. F••s and slmllar Incomg Fees receivable and other income are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the charitable company from its unrestricted funds but include contributions received from restricted funds for scholarships, bursaries and other grants. Fees that are received in advance of the financial year to which they relate are treated as a creditor and released to income in the financial year lo which they subsequently relate. Voluntary Income Voluntary income is received by way of donations and is included in full in the statement of financial activities when receivable. Grants and donations received for the general purposes of the charitable company are included as unrestricted funds. Grants and donations for activities restricted by the wishes of the donor are taken to restricted funds if these wishes are legally binding on the Govemors. Investment income Investment income is accounted for in the period in which the charitable company is entitled to receipt. Incoming resources from endowment funds are restricted. Page 27
Oocusign Envelope ID: 8DOA1A05-l9838F-AC74-FED66S4208h2 Dame Allan's Schools IA company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 Accounting policies (continued) 2.6 Exp8ndlture Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all cost for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent wrth the use of resources. Support costs are those costs incurred directly In support of expenditure on the objects of the charitable company. including those incurred in connection wrth the administration of the charitable company and compliance with constitutional and statutory requirements. They are apportioned against the activities of the charitable company in line with the estimated usage of those costs. Costs of raising funds are costs incurred in altracting voluntary income and those incurred in trading 8clivities that raise funds. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable Ihal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned behveen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and deprecialion charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by Ihe charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non. charitable trading. Expendrture on charitable activities is incurred on directly undertaking the activities which further the charitable companvs objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is rnade except in those cases where the offer is condttional, such grants being recognised as expenditure when the Conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearond are noted as a commitment, but not accrued as expenditure. Page 28
Docuslgn Envelope ID." 8D0A1AOS-19B3BF-AC74ffEO66s42oBh2 Dame Allan's Schools IA company limited by guarantee) Notes to the financlal ststements Year ended 31 August 2024 Accountlng policies (continued) 2.7 Tangible fixed assets and depreciation Freehold property is included in the financial statements at its original cost including the cost of new equipment and fittings installed at the time of construction. Tangible fixed assets are capitalised where they have an expected useful life of more than one year and where the original cost of the item exceeds the capitalisation Ihreshold of £2,000. Where a significant number of components or similar items purchased together, costing individually less than the capitalisation threshold and the value of these purchases exceed the caprtalisation threshold, then the items are treated as a capital asset. Expenditure in respect of major capital refurbishment and improvement of buildings is capitalised and reported as property or plant and machinery, depending on its nature. This is appropriate as the expenditure provides a long-tenn continuing benefit for the charitable company. The carrying values of tangible fixed assets are reviewed for annually for impairment or sooner when events or changes in circumstances indicate the carrying value may not be recoverable. Shortfalls beeen the carrying value of fixed assets and their recoverable amounts are fecognised as impairments. Impairment losses are recognised in the statement of financial activities. Depreciation is provided on all tangible fixed assets, other than assets under construction, at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Depreciation is provided on the following bas•s'. Freehold land Freehold buildings Planl and machinery No depreciation 10 50 years straighl-line 3 - 20 years slraight-line 2.8 Investments Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the statement of financial activities. 2.9 Debtors Trade and other debtors are recognised at the settlement amounls after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.11 Operating leases Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term. Page 29
DocusSgn Envelope ID.. 8DOA1AOS-19B543BF-AC74-FEIJ66542DBA2 Dame Allan's Schools IA company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 Accounting policies (continued) 2.12 Liabilities Liabilitie5 are recognised when there is an obligation at the balance sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estirnated reliably. Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods OT services it must provide. 2.13 Financial instruments The charitable company onty enters into basic financial instruments that result in the recognition of financial assets and liabilrties like trade and other accounts receivable and payable, cash and bank balances and loan balances. All such inslruments are initially recognised at Iransaction price, unless the arrangement constitutes financing transaction, in which case the transaction is measured al the present value of the future receipts discounted at a market rate of interest. All financial instwments are subsequently carried at amortised cost using the effective interest m8lhod. 2.14 Penslons The charitable company operates I0 main schemes.. .The charitable company participates in the Teachers. Pension Scheme which is a defined benefit scheme. and is for teaching staff only. The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees, working lives with the charitable company in such a way that the pension cost is a Substantially level percentage of current or future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. The TPS is a multi4mployer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in Ihe period to which they relate. The charitable company also operates personal pension schemes for non-teaching staff. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The charge to the statement of financial activities Is the amount payable in the period. Page 30
Docusign Envelope ID.. 80OA1A0&19B3BF-Ac74-FEo66S42D8h2 Dame Allan's Schools (A company limited by guarantee Notes to the financial statements Year ended 31 August 2024 Accounting policies (continued) 2.15 Fund accounting Unrestricted funds are available for use al the discretion of the Governors in furtherance of the general objective5 of the charitable company and which have not been designated for other purposes. Donations received for the general purposes of the charitable company are included as unrestricted funds. Restricted funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Donations for activities restricted by the wishes of the donor are taken lo "restricted funds" if these wishes are legally binding on the Govemors. Donations required to be retained as capital in accordance with th8 donor's wishes are accounted for as'endowments. . permanent or not according to th8 nature of the restriction. Crltlcal accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the 'circumstances. Significant judgments in'applying the group's accounting pollcles In preparing these financial statements. the Governors do not consider there to have been any other significant judgments that were required in the process of applying the charitable company's accounting policies. Key sources of estlmation and uncertalnty Estimates included within these financial statements include depreciation rates, accruals for employment costs (holiday pay). and asset impairments (for example provisions against debtors>. None of the estimates made in the preparation of these financial statements are considered to carry significant eslimation uncertainty, nor to bear a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. Income from donatlons and legacles Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Other donations 80.421 133,492 213,913 Page 31
Oocusign Emlope10'. 8DOA1A05-1985438F-AC7¢FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 Income from donations and legacies Icontinued) Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Other donations 103,281 10,450 113.731 Fees recelvable Unrestrlcted funds 2024 Total funds 2024 'Total funds 2023 School fees receivable 16,453,550 16,453,550 14,895,739 The notional value to the charitable company of bursary provision in the year amounted to £1,884,069 {2023.. £1,854,393) and £3,199 {2023'. £17,592) was provided in relation to hardship support. Income from other trading activities Unrestricled Restricted funds funds 2024 2024 Total funds 2024 Commission and lettings income 21,944 1,641 23,585 Unra$tricted funds 2023 Restricted funds 2023 Total funds 2023 Commission and lettings income 20,469 2,227 22,696 Page 32
Docuslgn Envelope ID.. 8DOA1A05-198543BF-AC74-FE06654208A2 Dame Allan's Schools (A company Ilmited by.guarantee) Notes to the financial statements Year ended 31 August 2024 Other incoming resources Unrestricted funds 2024 Total funds 2024 Total funds 2023 Miscellaneous other income School trip income Profit on disposal of fixed assets Income from school bus provision Catering income 77,803 1,042,064 4,100 81,834 851,268 77,803 1,042,064 4,100 81,834 851,268 100,102 763,379 1,500 70,245 731,333 Total 2024 2,057,069 2,057,069 1,666,559 Analysls of expenditure by actlvltles Actlvltlos undertaken dlrectly 2024 Support costs 2024 Total funds. 2024 Provision of school seNices Welfare Premises 10,577,417 681,750 2,475,839 3,795,262 14,372,679 243.142 924,892 778,781 3,254,620 13,735,006 4,817.185 18,552,191 Activities undertaken directly 2023 Support costs 2023 Tolal funds 2023 Provision of school seNices Welfare Premises 9,467,829 589,791 2,328,087 3,096,140 12,563,989 232.369 822,160 732,103 3,060,190 12.385.707 4,060,612 16,446,319 Page 33
Docusign Envelop? ID.. 800A1A05-1985438F-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee Notes to the financial statements Year ended 31 August 2024 Analysis of expenditure by activities (continued) Analysls of support costs Provision of school seryice8 2024 Total funds 2024 Welfare 2024 Premlses 2024 Staff costs Governance Advertising, PR & events Insurance Other support costs School bus provision Depreciation Inlerest costs 1,320,649 144.641 262,385 118,124 1,275,704 1,320,649 144,641 262,385 118,124 1,275,704 243,142 778,781 673,769 243,142 778,781 673,759 3,795,262 243,142 778,781 4,817,185 Provision of school seNices 2023 Total funds 2023 Welfare 2023 Premises 2023 Staff costs Governance Advertising, PR and events Insurance Other support costs School bus provision Depreciation Interest costs 1,134,932 117,213 254,144 100,376 962,553 1,134,932 117.213 254,144 100,376 962,553 232,369 732,103 526,922 232,369 732,103 526,922 3,096,140 232,369 732,103 4,060,612 Page 34
Docusign Envelope10.' 8DOA1A05-198543BF-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 Net incomellexpenditure) This is slated after charging.. 2024 2023 Deprecialion on owned assets Bank and loan interest payable 778,781 673,759 732.101 526,922 1,452,540 1,259,023 10. Auditor's remuneratlon 2024 2023 Fees payable to the charitable compan$ auditor for the audit of the charitable companls annual accounts Fees payable to the charitable companys auditor in respect of.. All assurance services not included above All other non-audit services not included above 13,850 12,300 650 600 900 Page 35
Docusign Envelope ID.. 6D0A1A05-1983BF-AC74-FEo66542D8A2 Dame Allan's Schools IA company limited by guarantee Notes to the financial statements Year ended 31 August 2024 11. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution and defined benefrt pension schemes 8,311,992 849,686 1,723,082 7,718,856 786,229 1.491,919 10,884,759 9,997,004 The average number of persons employed by the charitable company during the year was as follows.. 2024 No. 2023 No. Teaching Academic support Property management Administration 131 34 33 45 44 218 214 The average headcount expressed as full-time equivalents was.. 2024 No. 2023 No. Teaching Academic support Property management Administration 122 25 120 25 32 31 186 182 Page 36
DocusignEnvelope ID.. 8DOA1A05-19B543BF-AC74.FE06654208A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 11. Staff costs Icontinued) The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2024 No. 2023 No. In the band £60.001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 In the band £90,001- £100,000 In the band £100,001- £110,000 In the band £130,001- £140,000 In the band £140,001- £150,000 Thè number of employees in defined conlribution schemes was 75 (2023.. 71). The number of employ88S in defined benefit schemes was 131 (2023.. 134) Key management has been determined to be the Governors and 12 (2023.. 12) members of the senior management team. Governors receive no remuneration or benefits for their roles as Governors. The total remuneration of the senior management team (excluding employer national insurance costs) for the year was £1,215,399 (2023 restated.. £1,113,566>. The restatement is due to the figures not including employer pension contributions in the prior year. Page 37
Docusign Envelope 10.. 8DOA1AOS.19B543BF-AC74-FE066542D8A2 Dame Allan's Schools IA company limited by guarantee Notes to the financial statements Year ended 31 August 2024 12. Tangible fixed assets Assets Plant and under machlnery construction Freehold land Freehold property Total Cost or valuation At 1 September 2023 Additions Transfer between classes Oisposals 2,866,850 18,741,008 51,406 2,406.900 2.438,004 231,095 599,688 (672,360) 1,083,425 25,129,287 2,026,863 2,309,364 (3.006,588) (672,360 At 31 Au9USt 2024 2,866,850 21,199,314 2,596,427 103,700 26,766,291 Depreclatlon At 1 September 2023 Charge for the year On disposals 4,286,619 449.440 1,296,839 329,341 1672,360) 5,583,458 778,781 (672.360 At 31 August 2024 4,736,059 953,820 5,689,879 Net book value At 31 August 2024 2,866,850 16,463,255 1,642,607 103,700 21,076,412 At 31 August 2023 2,866,850 14,454,389 1,141,165 1,083,425 19,545,829 Page 38
Oocu8ign Envelope ID.. 8DOA1A0>198M3BF-AC74-FE06654208A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 13. Fixed assel investments Cash held within portfolio Listed securities Unllsted securltles Total Cost or valuation Al 1 September 2023 Additions Disposals Revaluations Transfers bebNeen classes 1,976,618 392,090 (253,256 192,130 98,911 130,010 103,127 2,209,755 392,090 1320,436) 193,192 167,180) 1,062 31,099 (130,010) At 31 August 2024 2,406,493 68,108 2,474,601 Net book value At 31 August 2024 2,406,493 68,108 2,474,601 At 31 August 2023 1,976,618 130,010 103,127 2,209,755 14. Debtors As restated 2023 2024 Fees owing from parents other deblon8 Prepayments and accrued income 6,530,$49 75,020 450,992 5,954,999 20 371,441 7,056,561 6.326,460 See note 2.2 for delails on the prior year restatement. Page 39
Docuslgn Envelope10'. 8DOA1AOS.19BS-43BF-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guaranlee) Notes to the financial statements Year ended 31 August 2024 15. Credltors: amounts falling due within one year As restated 2023 2024 8ank loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income Payments received in advance 297,387 273,783 418,453 67,775 6,761,068 3,022,379 273,574 406,892 354.120 54,458 6.571.225 2.012,426 10,840,835 9.672,695 See note 2.2 for details on the prior year restatement. 16. Creditors: amounts falling due after more than one year 2024 2023 8ank loans Payinents received in advance Accruals and deferred income 8,405,581 1,066,687 313,450 8,698,314 307,466 9,785,718 9,005,780 17. Deferred Incom• Deferred income totals £6,752,927 (2023 restated.. £6,228,762) and relates to invoices raised in advance for autumn tem fees of £6,279,685 {2023 restated.. £5,760,484), amounts received in advance from parents for trips and other events of £113,887 12023.. £120,077) and admission deposits received of £359,355 {2023: £348,201}. Page 40
Docvsign Envelope ID.. 800A1A05-198543BF-AC74-FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Notes to the ftnancial statements Year ended 31 August 2024 18. Bank and other loans 2024 2023 Due within one year Between one and five years In five years or more 297,387 1,408,219 6,997,362 273,574 1,349,989 7,348,325 ,702,968 8,971,888 A mortgage loan of £4,100,000 was agreed in July 2011 wrth Lloyds Bank plc, with the principal repayable in monthly inslalments from October 2013 until September 2036. Interest is charged at a fixed rate of 5.840/0 per annum. The loan is secured on the freehold property of the charitable company by way of a first legal charge and an unlimited debenture. The charitable company has also entered into a variable rate loan agreement with Lloyds Bank plc up to the sum of £1,900,000. Interest is charged at Base Rate plus an interest margin of 2.559/0, which at year end was 7.550/0 per annum (2023.. 7.80/0). Principal repayments began in May 2014 and continue until January 2036. The loan is secured on the freehold land and buildings of the charitable company by way of a first legal charge and an unlimited debenture. A further variable loan was taken out in 2023 for £4,931,219 with Lloyds Bank plc. Interest is charged at Base Rate plus an interest margin of 3.30/0, which al year end was 8.3°/• per annum {2023. 8.550AI. Principal repayments began in March 2023 and will continue until February 2048. The loan is secured on Ihe freehold land and buildings of the charitable company by way of a first legal charge and an unlimited debenture. Page 41
Docusign Envelope10'. 8DOA1AOS.19B543BF-AC74_FE066542D8A2 Dame Allan's Schools (A company limited by guarantee> Notes to the financial statements Year ended 31 August 2024 19. Statement of funds Stalement of funds - current year Balance at 1 September 2023 Balance at Gainsl 31 August {Lossesl 2024 Income Expenditure Unrestricted funds Schools general fund 12,623,314 18,7S1,473 (18,458,367) 218,153 13,134,573 Endowment funds Sinking fund no. 5 Mcclintock scholarship 124,002 9,472 124,002 9,472 133,474 133,474 Restricted funds Prize fund EB Wood memorial Fund Bursary fund (including Marks Foundation) Design and Technology Centre Sir Walter Plummer Scholarship Trust The Lord Elliot Fund Nixon Kaer Bursary Fund Ruth Claydon Memorial Fund Goodacre Hardship Fund 125,499 36,019 4,116 2,486 13,257) 12,509) 11,997 138,355 36,996 133,492 (133,492) 117,107) 23,907 6,800 4,691 6,905 1,515 2,832 27,408 226 4,916 6,978 1,515 2,832 24,209 73 (3,199) 228,776 140,391 1159,564 11.997 221,600 Total of funds 12,985,564 18,891,864 118,617,931) 230,150 13,489,647 Page 42
Docustgn Envelope ID.. 8DOA1AOS-19B5438F-AC74-FE066542D8A2 Dame Allan's Schools IA company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 Statement of funds (contlnued) Statement of funds - prior year Balance at 1 September 2022 Balance at Gainsl 31 August Income Expenditure (Losses) 2023 Unrestricted funds Schools general fund 12,332,875 16,761,887 (16,471.448) 12,623.314 Endowment funds Sinking fund no. 5 Mcclintock scholarship 124.002 9,472 124,002 9,472 133,474 133,474 Re#trlct•d funds Prize fund EB Wood memorial Fund Bursary fund (including Marks Foundation) Design and Technobgy Centre Sir Walter Plummer Scholarship Trust The Lord Elliot Fund Nixon Kaer Bursary Fund Ruth Claydon Memorial Fund Jeanette Hutt Debating Prize Goodacre Hardship Fund 127,627 36,140 305 2,227 {5,401) 122,531 36,019 (2,348) 10,450 {10,450) (17,107> 41,014 23,907 4,523 6,905 1,461 2,832 2,988 45,000 168 4.691 6.905 1,515 2,832 2.968 27,408 (20) (17,592) 268.490 13,204 (47.517) (5,401> 228,776 Total of funds 12,734.839 16,775,091 (16.518.965) (5,401) 12,985,564 Page 43
Docusi9n Envelope10: 8DOA1A05.198543BF-AC7&FEO66542D8A2 Dame Allan's Schools {A company limited by guarantee} Notes to the financial statements Year ended 31 August 2024 Unrestricted general funds Unrestricted general funds may be used for any ot the charilable objects of the charitable tompany. Endowment funds Endowment funds are all pemianent and include the Sinking fund no. 5 and the Mcclintock Scholarship. Restrlcted funds The Prize Funds are used to fund prizes and awards, amounts awarded in the period total £3,237 (2023.. £nill. The EB Wood fv1emorial Fund is represented by two timeshares in the Lake District, the income from which is used to fund educational trips. The Bursary fund (including the Marks Foundation) was a gift of investments and cash from the Dame Allan's Development Trust which is to be used to fund scholarships, bursaries and appeals. The fund is considered to have been fully used up and therefore has been transferred lo restricted funds. The Design and Technology Centre fund relates to donations received lo build and equip the new centre built in the summer of 2015. The Sir Walter Plummer Scholarship Trust was transferred from the Dame Allan's Schools, Trust. The fund is lo be applied to provide Scholarships to the Schools for boys who are members of the Church of England and who have preferably attended the Schools for fvio years and also been choristers at St Peterfs Church. The Lord Elliott Fund was transferred from the Dame Allan's Schools, Trust. The fund is to be applied to a boy or girl at the Schools at the discretion of the Principal. The Nixon Kaer Bursary Fund was transferred from the Dame Allan's Schools, Trust. The fund is lo be applied to help students in case of need across the Schools. The Ruth Claydon Memorial Fund was transferred from the Dame Allan's Schools, Trust. The fund was eslablished to provide funds annually for prizes for conversational or spoken French. The principal beneficiaries are mainlained sector schools in Kent, any surplus lo be awarded at the discretion of Ihe Schools. The Goodacre Hardship Fund represents donalions received from the Goodacra Trust to be used in luture to support those families in school suffering temporary financial hardship to enable fees to be paid during this time. Linked charities The charitable company is the trustee of, or is required to manage, the Dame Allan's Development Trust ('DADT'> which has been linked by the Charity Commission for administration and reporting purposes. Page 44
Docuslgn Envelope ID.. 8DOA1A05-1985438FAC7*FE066542D8A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 20. Summary of funds Summary of funds - current year Balance at 1 September 2023 Balance at Gainsl 31 August (Losses) 2024 Income Expendlture General funds Endowment funds Restricted funds 12,623,314 18,751,4T3 (18,458,367) 133,474 228,776 218,153 13,134,573 133,474 221,600 140,391 (169,564) 11,997 12,985,564 18,891,864 118,617,931) 230,150 13,489,647 Summary of funds- prlor year Balance at 1 September 2022 Balancé at 31 August 2023 Gainsl (Losses) Income Expenditure General funds Endowment funds Restricted funds 12,332,875 16.761,887 (16,471,448) 133,474 268,490 12.623,314 133,474 228,776 13,204 (47,517) (5,401) 12.734.839 16,775,091 {16.518.965) 15.401) 12,985,564 21. Analysls of net assets betw••n funds Analysis of net assets between funds - current period Unrestricted Restricted Endowment funds funds funds 2024 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 21.064,927 2,322,953 10,373,246 (10,840,835) (9,785,718) 11,485 151,648 58,467 21,076,412 2,474,601 133.474 10,565,187 (10,840,835 (9,785,718) Total 13.134,573 221,600 133,474 13,489,647 Page 45
Docusign Envelope 10.. 8DOA1A05-198543BF-AC7&FE06654208A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 21. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period As restated Unrestricted funds 2023 As restated Total funds 2023 Restricted Endowment funds funds 2023 2023 Tangible fixed assets Fixed asset investments Currenl assets Creditors due within one year Creditors due in more than one year 19,521.922 2,071,281 9,708,586 (9,672,695) (9,005.780) 23,907 138,474 66,395 19,545,829 2,209,755 9,908,455 (9,672,695) (9.005,780) 133,474 Total 12,623,314 228,776 133,474 12,985,564 22. Reconciliation of net movement in funds to net cash flow from operating activities As restated 2023 2024 Net incorne for the period (as per Statement of Financial Activsties) S04,083 250,725 Adjustments for: Depreciation charges {Gain)Iloss on investments Dividends, interests and rents from investments (net) {Profit)Iloss on the sale of fixed assets Increase in debtors Increase in creditors Interest paid 778,781 732,101 1233,589 7,129 (143,747 <76,366) (4,100 17,751 (730,101) {5.858,922) 2,216,998 5,828.219 673,759 526,922 Net cash provided by operating activities 3,062,084 1.427.559 Page 46
Do¢uslgn.Envelope ID.. 8DOA1AOS-198M38FAC74-FE066542D8h2 Dame Allan's Schools IA company limited by guarantee) Notes to the financlal statements Year ended 31 August 2024 23. Analysls of cash and cash equlvalents 2024 2023 Cash in hand Notice deposits (less than 3 months) COIF cash funds 3,490,154 3,526,058 38.309 17,628 18,472 Total cash and cash equlvalents 3,508,626 3,581.995 24. Analysi8 of changes in net debt Oth•r non- cash At31 changes August 2024 September 2023 Cash flows Cash at bank and in hand Debt due within 1 year Debt due after 1 year 3,581,995 (273,574) 18,698,314) (73,369 268,920 3,508,626 1292,733) (297.387) 292,733 (8,40S.581 15,389,893) 195,5S1 (5,194,342 25. Capltal commitments 2024 2023 Contracted for but not provided in these financlal statements Extension of Queens building 1,869.841 Page 47
Docusign Envelope ID: 8DOA1A05-19BS43BF.AC74-FE06654208h2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 26. Penslons T-he-charitable-company's-employees-belong to principal pension schemes, the Teachers, Pension Scheme (England and Wales) for teaching staff and a personal pension scheme for support staff with Aegon. The total pension cost for the period was £1,723,082 (2023.. £1,491,919). The Teachers, Pension Scheme {'TPS' The School participates in the Teachers, Pension Scheme ('the TPS.) for its teaching slaff. The pension charge for the year includes contributions payable to the TPS of £1,603,319 (2023.. £1,373,632) and at the year-end £200,339 (2023.. £163.3411 was accrued in respect of contribulions to this scheme. The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers, Pensions Regulations 2010 {as amended) and The Teachers, Pension Scheme Regulations 2014 las amended). Members contribute on a 'pay as you go. basis with contributions from members and the employer being credited lo the Exchequer, Retirement and other pension benefits are paid by public fund5 provided by Parliament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valualion of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. Following the Mccloud judgement, the remedy proposed that when bènefits b•coma payable, eligible members can select to receive them from either the reformed or legacy schemes for Ihe period 1 April 2015 to 31 March 2022. The acluaries have assumed that members aTe likely to choose the option that provides them wilh the greater benefits. and in preparing the 2020 valuation has valued the 'greater value, bénefits for groups of relevant members. The employer contribution rate for the TPS is 28.60/9, and employers are also required to pay a scheme administration levy of 0.08°/o giving a total employer contribution rate of 28.68%. Support staff penslon schemes The charitable company operate personal pension schemes for support staff with Aegon (formerly Scottish Equilablel and the Pensions Trust. From July 2014 the charitable company has been required to auto-enrol all eligible staff into a qualifying work place pension scheme and make contributions to such a scheme. Aegon, who operale the existing personal pension scheme for support staff, has also provided this qualifying scheme. The pension charge for the period includes contributions payable to the non-teaching pension scheme of £119,763 {2023.' £118,287). At the year-end £17,531 (2023.. £nill was accrued in respect of contributions to this scheme. Page 48
DO059n Envelope ID: 800A1A05-19W38F-AC74-FE06654208A2 Dame Allan's Schools (A company limited by guarantee) Notes to the financial statements Year ended 31 August 2024 27. Operating lease commitments At 31 Augusl 2024 the charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as followg.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 47.136 83,017 36,117 46,482 130,153 82,599 28. Llmited liability The charitable company is limited by guarantee. Each member undertakes to contribute to the assets of the charitable company, in the event of the charitable company being wound up while he or she is a member, for the debts and liabilities of the charitable company and of the costs of winding up, such amount as may be required not exceeding one pound. 29. Related party transactlons There were no related paty transactions in the current or prior period. Details of remuneration of key management personnel is provided in note 11 to these financial statements. Page 49