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2024-07-31-accounts

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee) ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

St Augustine’s Priory School Limited

Annual report and Financial Statements for the year ended 31st July 2024 Company Number: 04482913 Charity Number: 1097781

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Contents

REVIEW OF THE YEAR BY THE HEAD .......................................................................................................................2 OBJECTS, PURPOSE AND ETHOS .............................................................................................................................3 STRATEGIC REVIEW ................................................................................................................................................4 Academic Excellence ..............................................................................................................................................4 Pastoral Care ...........................................................................................................................................................7 Cocurricular Adventures .........................................................................................................................................9 Creative Achievement ......................................................................................................................................... 10 Sporting Success .................................................................................................................................................. 12 Grace – Public Benefit ......................................................................................................................................... 13 FINANCIAL REVIEW .............................................................................................................................................. 14 Financial Position ................................................................................................................................................. 14 Going Concern to 31 July 2026 ............................................................................................................................ 15 PRINCIPAL RISKS .................................................................................................................................................. 17 GOVERNANCE, MANAGEMENT AND ADMINISTRATIVE INFORMATION ............................................................. 18 Administrative Details ..................................................................................................................................... 19 Statement of Trustees' responsibilities ........................................................................................................... 20 INDEPENDENT AUDITOR'S REPORT ..................................................................................................................... 22 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 ..................................................... 26 BALANCE SHEET AS AT 31 JULY 2024 .................................................................................................................. 27 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024 ................................................................... 28 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 .................................................. 29

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

REVIEW OF THE YEAR BY THE HEAD

During my first full year of Headship at St Augustine’s Priory, it has been a privilege to see how our school mission is borne out every day in the lives of our pupils. The school is a sanctuary of deep learning and of faith, a place of academic excellence, social concern and community in its broadest definition.

Our mission of ‘Our Girls Will Change the World’ does indeed result in our girls changing the world. From its beginnings in 1634 the school has produced trailblazers who exemplify this, from the women who founded the convent and school in difficult times, to the author George Sand, to Jacqueline Stuyt-Simpson, one of the founding members of CAFOD (Catholic Agency for Overseas Development) and, leading to the present day, contemporary British composer, Dr Hannah Kendall. Our pupils start young: a Year 5 pupil was invited to read from her own published work at the Chiswick Book Festival and another, an avid palaeontologist, appeared on BBC Radio Solent reading from ‘She Sold Seashells… and dragons’, by Wolfgang Grulke.

Our pupils continue to gain outstanding academic results in public examinations. Pupils in Year 11 and Year 13 have benefitted from extraordinary bespoke academic and pastoral care which has enabled them to achieve the very top grades. A Level and GCSE Results Days remain a highlight of the year.

Independent research, critical enquiry and extended writing have been a focus in 2023-24. Uptake for the Higher Project Qualification was increased during the year, the Extended Project Qualification continues to bring great benefits to Sixth Form Pupils, and our Year 6 pupils have demonstrated their range of academic interests in their 2,000 word extended

essays, showcased to visitors in June 2024. In addition, we have provided pupils with increased opportunities for debating in both Preps and Seniors, joining with local Deanery schools in competitions throughout the year. “Oracy for advocacy” is promoted throughout the school.

In 2023 we were graded outstanding in all areas in the Diocesan inspection. We have continued to build on this throughout the year, embedding Catholic Social Teaching across the curriculum. In fulfilling our mission, we have supported international and national charities, whether by fundraising or by the volunteering efforts of our pupils, both at home and, through the travel scholarship programme, overseas. Many of these charitable activities were initiated, led and organised by our sixth form pupils. Our pupils delight in their community. In 2023-24, the Modern Languages

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Department held a joyful Cultural Celebration Day during which pupils, staff and parents proudly showcased their cultural heritage through a combination of dress, dance, song, food and craft.

Our extensive co-curricular programme reflects the wide variety of interests of both pupils and staff. In 2023-24 we have added Badminton and Basketball in response to pupil requests and the programme changes termly to ensure that all children have the opportunity to develop a range of skills. Pupil voice is an important part of school life and continues to grow – whether through the school councils (both Preps and Seniors) or the Inclusion Committee, through pastoral surveys and requests for subject-specific feedback.

We delight in showcasing the artistic talents of our pupils through musical and dramatic performances and this year we added to our portfolio by including talented staff members in a Cabaret evening where pupils and staff combined to entertain an audience of guests – an event that is now a permanent fixture in the calendar.

We have continued to develop our Priory Farm with the introduction of pygmy goats and guinea pigs to the existing community of sheep, chickens and ducks - to the delight of our pupils and local schools alike. We offer a range of opportunities for different groups of children from the surrounding area to visit the farm – sharing this valuable resource. Our Farm Manager course continues to grow in popularity, with pupils taking increasing responsibility for animal management both in term time and during the holidays.

Our astro-turf is utilised throughout the year by community sports clubs, and holiday camps run during the school holidays, open to children from ages 3-11.

We connected past and present at our Carol Service in December when a choir from Ste Marie de Neuilly made a beautiful musical contribution, and also joined our own Chamber Choir. Ste Marie is the school which occupies our former premises in Paris and with whom we enjoy a flourishing exchange programme. Our history and our future united in a service of the faith which defines us.

OBJECTS, PURPOSE AND ETHOS

The Charity’s objective as set out in the Section 3 of the Memorandum of Association is the advancement of education in the Roman Catholic tradition.

The principal activity of the Charity in the period under review, continues to be that of providing a complete education for girls, of the highest standard, founded on the Catholic faith.

However, our aspirations go so much further than these dry statements. In 2022 we refreshed our Mission Statement and in so doing defined a new purpose:

“Our girls will change the world.”

This followed lengthy discussions among and between Governors, the senior team, staff, parents, pupils and alumnae to tease out the essence of what the school stands for and what it strives to achieve for the community which it serves and of which it is a part.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

From these discussions came a series of supporting bullet points designed to expand on that core purpose and guide the community in its activities and decision-making

These statements inform what we teach, how we teach it, how we nurture and inspire all those who join us and how we identify the supporting resources, human, physical and financial, which are needed to deliver on this ambitious goal. We give our girls the courage to be ambitious and compassionate and we provide a secure, happy and nurturing community in which they can explore all the above and pursue excellence in their academic endeavours. We continue to focus on supporting all pupils to be the best version of themselves. We aim to instil in them the emotional freedom to grow intellectually and spiritually and to understand the truth about themselves, others and our complex world.

The School has developed a new Strategic Plan during the financial year, which has focused on key objectives in the short and medium term, enabling us to fully meet our ambitious mission. Central to our plans are an expanded educational offering in Key Stage 3 which will enable pupils to undertake additional qualifications in coding, robotics, GCSE Statistics, and the Higher Project Qualification across younger year groups. In addition, our unique farm is being embedded into the curriculum across all key stages, with plans for Level 2 qualifications to start in September 2025. We are developing and promoting a range of opportunities to provide a service or a charitable contribution to the community, enabling our pupils to gain the skills needed to become a truly global citizen. Other developments for 2024-2025 and beyond are a focus on careers’ education, making full use of our alumnae and parent network and a continuing emphasis on pupil voice as a driver of change and self-reflection across all aspects of school life: academic, pastoral and co-curricular.

STRATEGIC REVIEW

Against these established and emerging objectives the School is pleased to report the following achievements.

Academic Excellence

St Augustine’s welcomes a wide range of pupils of varying abilities, reflecting the mission of the school in seeing each person as an individual. Our outstanding results at A Level and at GCSE, reflect the tremendous efforts of both pupils and teachers. Not only did we celebrate pupils who achieved

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ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

outstanding grades at the very top, but we also highlighted the success of all of our pupils who achieve to the very best of their ability.

A Level results GCSE results
26% A* 43% 9-8
59% A*-A 65% 9-7
97% A*-C 85% 9-6

A Level . A Level pupils produced an excellent set of results, with 97% of all grades at A-C. 92% of pupils managed to achieve a place at their first-choice course in their first-choice university; a tremendous achievement. 100% A/A outcomes were achieved in Art, Spanish, Drama and Psychology.

GCSE . The academic outcomes for pupils at GCSE were also impressive with one pupil achieving 11 grade 9’s in her GCSEs. SEN, AGT and EAL pupils also achieved excellent value-added scores with the overall average added value being 1.2 across the cohort. Religious Studies cemented their place at the forefront of the school’s provision with 85% of pupils achieving grades 7-9 with 97% of pupils achieving grades 6-9; a phenomenal achievement.

Curriculum . Our curriculum is regularly reviewed and updated to incorporate best practices in teaching pedagogy ensuring it is both current and innovative. We balance the core subjects of mathematics, English, Religious Education and Science enriched with a wide range of foundation subjects such as the humanities, art, drama, music and foreign languages. This commitment to a broad and balanced curriculum runs throughout the whole school with Art, Drama, French, Music, PE and Spanish all taught by subject specialists in the Preps. The qualification offering was broadened in the Senior School during the year, with Year 8 pupils being offered the opportunity to study GCSE Statistics in Year 9, enabling stretch for our most able Mathematicians. Two computing qualifications will also be introduced in 2024/25. We are lucky to benefit from an exceptionally talented PE department whose enthusiasm, knowledge and skill in their field emphasises the importance of ‘having a go’, further embedding our focus on fostering a growth mindset learning environment. A strong competitive sporting spirit is evidence in the school, particularly in Netball and Hockey, but pupils benefit from an incredibly diverse curriculum encompassing tag rugby, cricket and football.

Independent Enquiry . Our Sixth Formers have long been able to supplement their A Level studies with an Extended Project Qualification (EPQ), offering them the opportunity to extend and develop their abilities beyond the A Level syllabus. Pupils researched a wide variety of areas with 100% of pupils achieving A*-A. This is testament to the pupils’ efforts but also the support of their teachers. The Year 9 Higher Project Qualification (HPQ) cohort was larger than the previous year. Again, a wide variety of areas were investigated. Pupils researched whether technology should replace sports

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

officials, the influences on Caravaggio’s paintings as well as the development of the English accent over time. 38% of pupils achieved A*/A which was hugely pleasing. The HPQ is now being fully integrated into the curriculum for all Year 8 pupils from the academic year 2024/25 onwards. EPQs and HPQs form the backbone of our annual Festival on Learning, where students were able to showcase their findings to their peers, parents and staff. Our commitment to fostering academic excellence is reflected in the Year 6 EPQ, or ‘Extended Project Question’. The aim of this project is to equip girls with a strong foundation of study skills, confidence, and independence in preparation for their transition to Senior School. Pupils benefitted from mentoring by Priory Sixth pupils and presented their work in an end of term showcase. The final projects encompassed a huge variety of topics including What is Quantum Physics and how does it affect our everyday lives?, To what extent can a person’s mental and physical health be affected by dance ? and Is Naples sufficiently prepared if Vesuvius erupts again?

Our Year 5 Science Fair was an absolute triumph of young curiosity, creativity and scientific ingenuity, highlighting the importance of science education. It was an impressive showcase of the next generation’s potential to shape our world through their inquisitive minds and innovative ideas.

Languages . Outside of the public examinations, our students continue to have a wide range of opportunities to illustrate their academic excellence.

For example, we are proud to be a DELF examination centre, with two of our teachers fully trained as examiners. The DELF, Diplôme d’études en langue française, is an internationally recognised French Language Proficiency Certificate awarded by the French Ministry of Education. Evolving from our very own French ‘Masterclass’ Programme which was officially endorsed by the Institut Français du Royaume-Uni, this prestigious invitation-only course that we offer is aimed at very able students. As a result of having this incredibly rare ability to offer this at St Augustine’s, our Key Stage 2 – Key Stage 5 students have the opportunity to ultimately work towards obtaining DELF diplomas. Our 2023-24 cohort saw five students in Year 7 successfully obtain DELF qualifications.

“Pupils are confident and highly articulate, understanding and applying the Augustinian ethos of their mission statement to their daily lives .” (Catholic Schools Inspectorate 2023)

Oracy . Following the successes of TED talks in previous years, we continued with our Oracy for Advocacy Project with a whole school focus on debating. Our debating teams joined competitions with other schools in the Ealing Deanery and had a range of statements for lively debate, including, for example, Social media has been a crucial factor in the decline of mental health in the current generation of teenagers . Our participation in this project recognises that it is not just about competition, but about the impact the children make and the change they inspire.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Building the Kingdom . We also continued with our ground-breaking Building the Kingdom programme which puts Christ at the centre of our curriculum. All children from EYFS up to KS2 took part in further cocurricular BTK Celebration Days providing them with opportunities to be creative, form their own opinions, and develop their own unique talents and gifts. Expert staff, who have received dedicated training, planned and led exciting and meaningful activities further enriching our pupils’ academic experiences whilst

fostering critical thinking and problem-solving skills. Pope Francis’ Laudato Si is a very powerful message, which helps us to realise what we need to do to take responsibility for our world and care for God’s creation.

Pastoral Care

By this everyone will know that you are my disciples, if you have love for one another.” (John 13:35)

It is our central aim that each pupil at St Augustine’s Priory feels known, supported, confident and encouraged to be their best self as part of our education of the whole person. We are named after St Augustine who said that we learn best when we are happy. We see pastoral care and academic life as intertwined.

Values . All staff and pupils have a responsibility for the happiness and well-being of each other, as well as for making St Augustine’s Priory a fully inclusive community. Our values are embedded in everything we do and are the foundation of our excellent pastoral care: love of learning, integrity and truth, freedom of spirit, courage and community guided by the Holy Spirit.

Veritas . Our school motto is Veritas (truth); we don’t

have difficult conversations, we have Veritas conversations. Our Mission Statement is that Our girls will change the world and we have high expectations of each and every pupil. As a Catholic school, we have the fundamental belief that every person is made in the image and likeness of God and therefore has an inherent dignity and inestimable worth. Jesus himself spoke up against injustice and taught the values of the kingdom, emphasising the need for love, justice and unity for all and we seek to instil this in every pupil.

“The pupils’ excellent moral and social development are reflected in a community which is built on kindness and mutual respect .” (Catholic Schools’ Inspectorate, 2023)

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Inclusion . Every pupil at St Augustine's Priory is made to feel welcome, regardless of their background, religion, race, sexuality, disability, learning needs or any other protected characteristic. Our success in promoting inclusivity was recognised in both of our recent ISI and CSI inspections where our pastoral care and development of character were judged as “excellent” and “outstanding”. We are very proud of this.

Big Sister - Little Sister . The school has many initiatives and strategies running to help us achieve these objectives. One is the Big Sister, Little Sister programme which continues to aid the smooth transition between Primary and Senior school and is led wonderfully by the Deputy Head Girl, Faith Life and Community. In 2023-2024 we extended the programme to enable pupils in the Preps to have their own Big Sisters/Little Sisters as they moved between Year 2 and year 3.

Enrichment . Enrichment opportunities such as the Year 7 residential and Enrichment Week trips provide an opportunity for whole year groups to go offsite and enjoy a day of activities, designed to develop character and teamwork.

Pupil Voice . Pupil voice remains strong and is a high priority. Pupils have been instrumental in supporting staff in developing policies. Safeguarding and Academic Committee members regularly invite pupils to their meetings to hear first-hand about specific issues or initiatives. This year, pupils have given feedback to governors on feeling safe at school and travelling to and from school, pastoral care during transition points, GCSE and A Level preparation and more. The School Council and Inclusion Committee continue their work representing the views of their contemporaries and have fed back to the whole school in assemblies. Pastoral surveys have helped management to prioritise student needs, for example the introduction of conflict resolution training.

Support . Pupils are encouraged to seek support from a trusted adult in times of need. Heads of Year and form tutor teams are proactive in providing help, training and information, for example, in year group assemblies. Our full time Mental Health Lead and School Counsellor is invaluable in providing drop-in and planned support to pupils throughout the school.

Skills. While maintaining its focus on the day to day, the Pastoral Team also refreshes its knowledge and skills regularly with all members undertaking either Youth Mental Health First Aid or Safeguarding Level Three training. The DSL team work collaboratively with colleagues in other local schools and the Ealing Council network group.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Farm . The appointment of a full time Farm Manager has enhanced our pastoral support, allowing girls who show a keen interest in animals and the allotment to have time out from the busyness of their studies. We continue to develop this unique resource as another layer of support for those who wish to avail of it.

Cocurricular Adventures

The school’s co-curricular offerings have proven to be a significant hit with students. In 2024, an impressive average of 91% of pupils from Reception to Year 11 are participating in at least one club each week, with a diverse range of interests from cookery to basketball. It's particularly encouraging to see our 6th formers taking the initiative to lead clubs focused on Greek Mythology, Art and Design, Debate and Maths, allowing them to share their passions with younger students.

Sports clubs remain the most popular, closely followed by LAMDA and drama activities. This involvement provides a fantastic opportunity for students to stay active and engaged outside of the classroom, helping to refresh both minds and bodies throughout the school day.

Younger students in Preps and Pre-Preps are especially enthusiastic about co-curricular activities, with many clubs reaching full capacity or even being oversubscribed.

Additionally, older pupils are embracing the Duke of Edinburgh Award, with record numbers signing up for the bronze and silver programmes.

Music lessons offered by peripatetic teachers are thriving as well, with over 90 pupils learning various instruments. Many students are preparing for grade

exams, while others simply enjoy the art of making music, highlighting the joy of creative expression in our school community.

Over 50 pupils have committed to acting or backstage roles for the Senior school Production which will take place in March 2025.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Creative Achievement

Drama

The Drama Department continued to provide a rich array of creative opportunities for pupils. In October, Year 7 staged a ‘Grace’ themed showcase of movement to music, in April Year 9 staged a Drama Showcase, in July Year 8 staged A Midsummer Night’s Dream and Much Ado About Nothing for our annual Shakespeare Festival and Year 6 staged Annie Junior – all to live audiences. GCSE Drama pupils created high quality original theatre as well as staging scenes from J.B. Priestley’s An Inspector Calls, Charles Dickens’ Oliver Twist and Lillies on the Land by The Lion’s Part and all pupils achieved 8s or 9s in this externally examined component. Year 12 produced a dynamic devised piece set in the 1920s, exploring female oppression through a female lens, inspired by Jacques Lecoq and Stanislavski’s approaches. Design for performance is growing in popularity at Key Stage 3 and GCSE Level.

GCSE and A-Level Drama pupils participated in workshops with professional theatre practitioners. Professional producer, Steve Rehman, ran our Acting for Screen club. One of our LAMDA teachers produced a performed reading of Lettice and Lovage at The Ambassadors’ Theatre, starring Maureen Lipman and Tom Conti, to raise money for Alzheimers UK.

Drama exam results were excellent with 100% A-Level pupils achieving A*-A, and 71% of GCSE pupils achieving 9-7, and 100% Grade 9-6.

All pupils were able to enjoy live professional theatre again with Year 7 going to Matilda, Year 8 to Mrs Doubtfire, Year 9 Phantom of the Opera, Year 10, 11 and 12, Hamilton. Year 12 and 13 also saw different versions of Othello.

Members of our Drama Gifted Pathway enjoyed workshops on Laban and Lecoq and a careers talk from professional actor, Isabelle Lee.

Over a third of the school took LAMDA examinations, with 100% passing with Merit and Distinction. The LAMDA Showcase was a hugely successful house competition, with professional casting director Tracey Andrews and, teen actor, Ciara Prioux judging and presenting medals to the winners, bringing the Creative Arts industry directly to pupils. After witnessing the talent at the school, she offered representation to three pupils. We also screened a careers advice video for the participants and audience featuring St Augustine’s alumnus and professional actor, Tia Watts. We participated in the National Theatre’s New Views Playwriting Programme. Two of our pupils’ plays were long listed. As part of our out-reach we sponsored Brentside High School to participate in this programme, and they also had two long listed pupils.

St Augustine’s was shortlisted for an award in the Independent School of the Year for Performing Arts/Music/Drama category.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Music

2023-24 was another busy year for the Music Department. On top of the three termly concerts for ensembles, we continued with our series of soloist showcases. We also worked with the Drama Department to deliver a highly successful Cabaret evening of student and staff performances. This will be extended to two nights in 2024.

The success of the Carol Service was positively impacted by the visit of students from SainteMarie in Paris who sang their own carols and joined us for an ensemble number. They will return in Christmas 2024, and we are hoping to take a group of our students to them in Jan/Feb 2025 to participate in a concert there.

Our results in public exams continue to be excellent. In GCSE, we achieved 66% grade 9, which is superb. Furthermore, our results consistently outperform schools in the national picture.

Two new ensembles got up and running: the Jazz Band and the Guitar Ensemble. Both have slotted into concerts and are performing to a high standard.

Art

The Art department remains dedicated to fostering our students' artistic abilities and nurturing their creative growth. We continue to explore a wide range of artistic techniques and approaches, including drawing, painting, printmaking, sculpture, dressmaking, fine art textiles, design, digital manipulation, photography and filmmaking. We also delved into the works of various contemporary and classical artists, explored diverse cultures, and addressed socio-economic issues, always highlighting inclusivity and diversity for all students. We encourage our students to discover their passion and choose a concept and working method that aligns with their interests and aspirations. As a result, our students have been exceptionally active throughout this year. We were delighted to work with our KS3 Art AGT students to create props for the Carol Service. Our student team run clubs for other students, such as the Photography Club and the AGT art club.

Last January, our A-level and Year 11 students were given the fantastic opportunity to explore Amsterdam, where they expanded their artistic horizons through visits to the impressive art collections at the Rijksmuseum, Moco Museum, Stedelijk Museum and Van Gogh Museum. This year, we're eagerly preparing for our upcoming journey to Lille where we will visit the Palais des Beaux Arts, Lille Métropole Musée d'art moderne and La Piscine.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Our students consistently demonstrate an impressive enthusiasm for their artistic endeavours, and we take great pride in showcasing their innovative works around the school to inspire other students. This year, we curated a special exhibition during Association Day, allowing parents to witness the incredible talent of our girls firsthand.

Our department continues to introduce new technologies in our lessons. For example we integrated a 3D Resing printer and digital drawings into our curriculum, allowing our students to utilise digital tools for their architectural and digital design projects. Knowledge of these tools is a standard entry requirement for top-tier universities.

Our exam results this year were outstanding with 100% A* grades at A Level and 50% of our GCSE girls scoring 7 and above.

Sporting Success

Our Physical Education (PE) program has made tremendous strides over the past year, with notable success in our academic and practical curriculum. Many of our students have excelled within school and beyond, representing us with distinction. As educators, we continually refine our teaching practices, striving to challenge and inspire our students in every lesson.

This year, we are thrilled to announce the addition of Handball, Lacrosse, and leadership development to our curriculum. This expansion broadens our students' experiences and maintains a strong focus on our core sports. By teaching game principles across a variety of sports, we aim to equip students with skills they can use both on and off the field. While this approach demands dedication and effort, it enriches their educational journey and personal growth. We also strongly emphasise leadership,

aligning with the school's mission to nurture well-rounded individuals. Our efforts to strengthen our core sports, particularly Netball and Hockey, have bolstered our competitive standing in the county. As a school, we believe that "our girls will change the world," and as a department believe that "Sport can help change lives." A true love for sport and physical activity can enhance life in countless ways, and that's the foundation we are building for each student.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Our students have achieved remarkable success beyond the school grounds. Three out of four of our Hockey teams reached the county finals, and we had a successful Hockey tour in Holland. Our year 8 dance team, IDentity was placed 4th in the U16 category at the World Streetdance Championships. A Year 7 student competed for Ealing U14 in the London Youth Games Netball, leading her team to victory. One of our Year 9 students claimed the U15 Middlesex High Jump title, and we were proud to organize an outstanding school-wide dance show featuring students from Year 3 to Year 9.

Grace – Public Benefit

The governors have complied with the duty prescribed in Section 17 of the Charities Act 2006 to have due regard to guidance published by The Charity Commission, including public benefit guidance.

The St Augustine’s Priory theme for the academic year 2023-24 was ‘Grace’. Grace is a word that we often use without thinking, e.g., we say grace before and after meals, when we recite the Hail Mary, which begins, ‘Hail Mary, full of grace’ or even sing ‘Amazing Grace’.

The Catechism of the Catholic Church defines grace as ‘favour, the free and undeserved help that God gives us to respond to his call to become children of God’. As our patron, St Augustine of Hippo, said, ‘grace is given not because we have done good works, but in order that we may be able to do them’.

In effect, the theme of grace was not a new add-on to our work, but a recognition that this is a core value which lies at the heart of what we do.

We strived to fulfil the theme in several ways, in reaching out and contributing to the local community and making our abundant facilities available for others to share. For example, we conducted a Christmas present drive for local primary school, St Anselm’s, a whole school initiative led by our Sixth Form. Our Year 11 pupils volunteered at the Ealing Foodbank and at local

primary schools after their GCSE mock examinations and Year 12 volunteered at the Ealing Soup Kitchen. Our Year 12 students also volunteered at the Coffee Morning held in support for Aid to the Church in Need, at Ealing Abbey.

We held termly food drives for the Ealing Foodbank and also raised funds for charities during our annual Charities Week, Carol Service, Feast Day and at the annual Macmillan Coffee Morning.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Throughout the year our outdoor facilities, including the AstroTurf, were used almost every day by local clubs. The Chapel is the focus of retreats by local groups. Indoor and outdoor stages are much enjoyed by drama groups. A French school uses our classrooms and other facilities at weekends; and holiday activity clubs use the school at half terms and in school holidays. Senior members of staff are governors of state schools.

Our Priory Farm is an excellent way in which we can share our facilities with the local community. The farm, which houses goats, sheep, chickens, ducks and guinea pigs is an invaluable source of well-being and also an inspiration for our pupils and those visiting schools who wish to forge links with the curriculum, for example, in science, literature or art. We were delighted to welcome local primary and secondary schools to the Priory Farm during the academic year, including the

Grove House Nursery, St Gregory’s Nursery and Reception classes and classes from the Ellen Wilkinson School for Girls, who visited on more than one occasion. This is a programme which we conduct and develop every year.

Although we formally recognised grace as our theme for 2023-24, it is something which doesn’t just exist for one year, it is something which enables us to fulfil our mission, year on year.

During the year the school awarded a total of £681,154(2023: £744,442) in respect of bursaries, scholarships, remissions, discounts etc. This represents some 8.6% (2023: 10%) of fee income.

The school's charitable collections during the year totalled £8,365 (2023: £10,171). This amount was dispersed to charitable institutions including Macmillan Cancer Support, Great St Mungo’s Caritas Bakhita House, WWF, Downs Syndrome Association, Unicef, Ealing Soup Kitchen, Superkind, CAFOD and Fundacion Anpuy where we sponsor a child in Argentina.

The Margaret Dormer Scheme, initiated by the school for public benefit, is a designated fund for the provision of bursaries for children from families whose parents would not otherwise be able to afford an independent education. The fund is managed by Evelyn Partners with whom the Finance Committee meet twice yearly. At 31 July 2024 the combined funds stood at a market value of £612,152 (2023: £579,722).

FINANCIAL REVIEW

Financial Position

Total incoming resources increased by approximately 2.33% from £7,939,173 to £8,213,936 and total resources expended increased by approximately 3.41% from £7,911,621 to £8,181,571.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

The net surplus for the year before interest, tax, depreciation and amortisation was £220,104 with a final net surplus of £32,365 (2023: £27,552) with these items included. We saw an unrealised gain on investments of £48,720 (2023: unrealised loss £6,278).

Net current assets at the year end were £2,998,798 (2023: £1,765,157).

Financial Key Performance Indicators (KPIs)

Incoming resources per pupil: £19,236 (2023: £17,461). Wages cost per pupil: £13,293(2023: £11,505).

Principal funding sources

The principal funding source of the school's charitable activities continues to be tuition fees and extras. The School is not registered with the Fundraising Regulator and does not actively fundraise. There were no complaints received in the year.

Reserves policy

The governors’ target for free reserves for normal educational activities is in line with the generally accepted view in the independent schools sector, that the ideal level should be equivalent to approximately three months’ normal expenditure. At the year-end total funds stood at £4,578,472, £419,731 of which is restricted and £4,158,741 unrestricted. Of this £2,146,099 was held in free reserves against a target of £1.7m. Accumulated reserves are earmarked to support the school in some potentially difficult times ahead.

Investment policy and objectives

Section 4(5) of the Memorandum of Association authorises the governors to invest the money of the Company in, or on, the security of such stock, funds, shares, securities or other investments of any kind as may be thought fit, but subject to such conditions (if any) and consents (if any) as may be imposed or required by law.

The objective of the school’s investment policy is to ensure the creation of sufficient income and capital growth to enable the school to carry out its purposes consistently year by year with due and proper consideration for future needs and the maintenance of and, if possible, enhancement of the value of the invested funds whilst they are retained.

The investment policy is reviewed annually by the Finance Committee to ensure that it remains compatible with the school’s objects and requirements. The performance of the investment is reviewed regularly and assessed against appropriate industry benchmarks.

Going Concern to 31 July 2026

The Trustees have assessed the School’s ability to continue as a going concern. In making this assessment the Trustees have considered a range of internal and external factors when forming their conclusions. This information has been collected from a mixture of sources including input from various independent school associations (e.g. ISBA, AGBIS, SOH, GSA) and market commentators

Page 15

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

(Baines Cutler and RSAcademics). The school has also conducted analysis of its present financial and operational performance and reviewed leading indicators of what this performance might look like in the future.

In the year 2023-24 the school achieved a healthy surplus of £220k which contributed to a further strengthening of the balance sheet, following on from a surplus of £300k achieved in year 2022-23. Reserves have built up over time meaning the Trustees feel that the school’s balance sheet is in a good position.

Looking forward, as with all schools in the independent sector, the school faces a number of political, economic and societal headwinds driven by a range of factors:

The School has taken steps, or is in the process of developing strategies, to address all of these challenges and does so in the knowledge that the strong balance sheet and an absence of debt is a great advantage.

The school remains a compelling and attractive proposition to pupils and parents. Academic achievement is very similar to the academically selective schools in the area. The combination of our pastoral focus, outside space and facilities such as the on site Astroturf pitch and the farm is unmatched by local competitors and make us a unique offering. The 2021 ISI inspection and the 2023 CSI inspection the school was rated as “Excellent” and “Outstanding” respectively. A significant number of parents availed of our Fees in Advance scheme in June 2024, which represented a statement of their confidence in the school. So there is enduring confidence in the broad educational experience which the school provides.

A reduction in pupil numbers and the uncertainty around the effect of the imposition of VAT are short-term challenges but the strong balance sheet means that the impact on the school’s financial position is not as significant as it might otherwise have been.

Nonetheless the core business model of the school is continually being adjusted to ensure that in following years the school can deliver a surplus in a sustainable way. This will be complemented by close control of the cost base and diversification of income.

As a result of the School’s proactive approach to financial diversification, marketing, cost control and delivering an excellent educational experience, the Trustees are confident that the School is a going concern and that the accounts should be prepared on this basis.

Page 16

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

PRINCIPAL RISKS

The governors recognise their duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The governors continue to review the principal areas of the school's operations to identify risks that could affect the day-to-day operations of the school. For all schools, Safeguarding of pupils is a fundamental risk and we are always vigilant, adopting the attitude that “it could happen here”. The school has an extensive set of policies and procedures designed to manage the risk and Governors are confident in the approach taken.

In the opinion of the governors, the charity has established resources and review systems which, under normal conditions, should allow the risks below to be mitigated to an acceptable level. The governors consider the following to be the principal risks on which the charity needs to focus:

Risk Explanation and mitigation
Political
change		 The introduction of VAT on independent school fees from January 2025 will
create affordability challenges for many parents and is already having a
negative effect on pupil numbers across the sector. The extent, duration
and permanency of the impact on pupil numbers is not yet known. The
school has modelled various scenarios and their financial impacts and
understands how the school’s operating model may need to change in
response to evolving circumstances whilst maintaining the quality of
academic, pastoral and cocurricular provision.
Economic
challenges for
school and
parents (cost
of living etc)		 Fees remain competitive with local market. School inspections have
confirmed the quality of the educational experience and our exam results,
added value scores and pastoral performance relative to fees continue to
show value for money. Long term energy contracts are in place to protect
against market volatility. A school wide sustainability drive continues. We
are investigating how we can offer greater flexibility to parents in how they
pay for their fees. Teacher salaries and other benefits have also increased
significantly in recent years so the school is designing its operating model
to more closely align with pupil numbers.
Social
changes		 London’s demographics are changing, with more people leaving the city to
live elsewhere. In addition, the nationwide birth rate is declining for the
foreseeable future reducing the number of children living in our catchment
area.

Page 17

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

GOVERNANCE, MANAGEMENT AND ADMINISTRATIVE INFORMATION

History and charity status

The school, known as St Augustine's Priory, was established in France in 1634, and moved to Ealing in 1911, establishing itself on the present site in 1914-15. The school was first registered by the Charity Commission on 27 September 1965, and was given its own charity number (307377).

Incorporation

The school's reconstitution as a charitable company was authorised by the Charity Commission by way of a Charity Commission Scheme dated 1 August 2002, case number 238258, sealing 112(s) 02, by which the assets of the school in its unincorporated state were transferred to the newly-formed charitable company, St. Augustine's Priory School Limited.

The affairs of the charitable company are regulated by its Memorandum and Articles of Association. The day-to-day running of the school is carried on in accordance with its Instrument of Government, dated 6 December 2022.

St Augustine’s Priory Trust (‘the 1941 Trust’)

The 1941 Trust (charity number 245367) is a separate entity which owns the land and buildings of St Augustine’s Priory. The school has no formal lease, but has occupied the property rent free since 1915.

During the year the 1941 Trust donated £50,000 (2023: £50,000) towards scholarships.

Trustees, governors and directors

The company’s Articles of Association provide for there being no fewer than six and no more than fourteen governors. They are appointed and retire in accordance with the Articles of Association.

The Articles permit the charitable company to take out indemnity insurance for the governors.

New governors are inducted into the workings of the charity and the school, including board policies and procedures. Governors are also invited to attend relevant external training courses.

Organisational structure

The Board of Governors is legally responsible for the overall direction and control of the school. Dayto-day management is delegated to the Headteacher who is supported by a senior leadership team comprising senior academic and business services staff.

Remuneration

Remuneration of the Headteacher and Bursar is reviewed by the Board of Governors with advice from an independent consultant. The Finance Committee reviews teaching and support staff remuneration, taking into account factors such as inflation and salaries paid in comparable organisations.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Administrative Details

Registered office St. Augustine’s Priory Hillcrest Road Ealing London W5 2JL

Trustees The trustees who served during the year to 31 July 2024 were: Mr P D'Arcy, (Chair) Mr R Beeston (to 28 June 2024) Ms M Bowler, (Vice Chair) Mr S Bristow (to 31 December 2023) Mr B Cassidy Mr J Davies Mrs J Job Mr M Kendall (from 11 March 2024) Dr B Marino Mrs A Sparks Mr F Steadman (to 28 June 2024)

Company registered number 04482913

Charity registered number 1097781

Company secretary and Clerk to the Governors Mr J Philpott (to 1 August 2024) Mr J Lacken (from 8 July 2024)

Headteacher Mrs C Macallister

Independent auditor Crowe U.K. LLP Statutory Auditor 55 Ludgate Hill London EC4M 7JW

Page 19

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Bankers Barclays Bank Plc Acorn House 36-38 Park Royal Road London NW10 7JA

Solicitors Veale Wasbrough Vizards Orchard Court Orchard Lane Bristol BS1 5WS

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the School for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the School and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the School's transactions and disclose with reasonable accuracy at any time the financial position of the School and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the School and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

ANNUAL REPORT OF THE TRUSTEES OF ST AUGUSTINE’S PRIORY SCHOOL LIMITED FOR THE YEAR ENDED 31 JULY 2024

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditor

The auditor, Crowe U.K. LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Date:

Patrick D’Arcy, Chair of Governors

Page 21

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. AUGUSTINE'S PRIORY SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT

Opinion

We have audited the financial statements of St. Augustine's Priory School Limited (the 'School') for the year ended 31 July 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. AUGUSTINE'S PRIORY SCHOOL LIMITED

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees 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 explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have 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:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial

Page 23

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. AUGUSTINE'S PRIORY SCHOOL LIMITED

statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial 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 Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with 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 misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we

Page 24

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. AUGUSTINE'S PRIORY SCHOOL LIMITED

considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, General Data Protection Regulation (GDPR), Health and safety legislation, Taxation legislation and Employment legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our 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 that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola May Senior Statutory Auditor for and on behalf of

Crowe U.K. LLP Statutory Auditor London

Date: 3 December 2024

Page 25

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
£
£
£
£
Income from:
Donations
50,000
30
50,030
57,639
Charitable activities
3
-
7,246,764
7,246,764
7,017,397
Investments
-
44,515
44,515
30,558
Other income
4
35,245
837,382
872,627
833,579
Total income
85,245
8,128,691

8,213,936
7,939,173
Expenditure on:
Raising funds
5
-
5,217
5,217
5,079
Charitable activities
6
79,610
8,096,744
8,176,354
7,906,542
Total expenditure
79,610
8,101,961

8,181,571
7,911,621
Net income before net (losses)/gains
on investments
5,635
26,731
32,366
27,552
Net (losses)/gains on investments
-
48,720
48,720
(6,278)
Net income
5,635
75,450

81,085
21,274
Net movement in funds
5,635
75,450

81,085
21,274
Reconciliation of funds:
Total funds brought forward
414,096
4,083,291
4,497,387
4,476,113
Net movement in funds
5,635
75,451
81,085
21,274
Total funds carried forward
419,731
4,158,742

4,578,472
4,497,387		 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
£
£
£
£
Income from:
Donations
50,000
30
50,030
57,639
Charitable activities
3
-
7,246,764
7,246,764
7,017,397
Investments
-
44,515
44,515
30,558
Other income
4
35,245
837,382
872,627
833,579
Total income
85,245
8,128,691

8,213,936
7,939,173
Expenditure on:
Raising funds
5
-
5,217
5,217
5,079
Charitable activities
6
79,610
8,096,744
8,176,354
7,906,542
Total expenditure
79,610
8,101,961

8,181,571
7,911,621
Net income before net (losses)/gains
on investments
5,635
26,731
32,366
27,552
Net (losses)/gains on investments
-
48,720
48,720
(6,278)
Net income
5,635
75,450

81,085
21,274
Net movement in funds
5,635
75,450

81,085
21,274
Reconciliation of funds:
Total funds brought forward
414,096
4,083,291
4,497,387
4,476,113
Net movement in funds
5,635
75,451
81,085
21,274
Total funds carried forward
419,731
4,158,742

4,578,472
4,497,387		 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
£
£
£
£
Income from:
Donations
50,000
30
50,030
57,639
Charitable activities
3
-
7,246,764
7,246,764
7,017,397
Investments
-
44,515
44,515
30,558
Other income
4
35,245
837,382
872,627
833,579
Total income
85,245
8,128,691

8,213,936
7,939,173
Expenditure on:
Raising funds
5
-
5,217
5,217
5,079
Charitable activities
6
79,610
8,096,744
8,176,354
7,906,542
Total expenditure
79,610
8,101,961

8,181,571
7,911,621
Net income before net (losses)/gains
on investments
5,635
26,731
32,366
27,552
Net (losses)/gains on investments
-
48,720
48,720
(6,278)
Net income
5,635
75,450

81,085
21,274
Net movement in funds
5,635
75,450

81,085
21,274
Reconciliation of funds:
Total funds brought forward
414,096
4,083,291
4,497,387
4,476,113
Net movement in funds
5,635
75,451
81,085
21,274
Total funds carried forward
419,731
4,158,742

4,578,472
4,497,387		 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
£
£
£
£
Income from:
Donations
50,000
30
50,030
57,639
Charitable activities
3
-
7,246,764
7,246,764
7,017,397
Investments
-
44,515
44,515
30,558
Other income
4
35,245
837,382
872,627
833,579
Total income
85,245
8,128,691

8,213,936
7,939,173
Expenditure on:
Raising funds
5
-
5,217
5,217
5,079
Charitable activities
6
79,610
8,096,744
8,176,354
7,906,542
Total expenditure
79,610
8,101,961

8,181,571
7,911,621
Net income before net (losses)/gains
on investments
5,635
26,731
32,366
27,552
Net (losses)/gains on investments
-
48,720
48,720
(6,278)
Net income
5,635
75,450

81,085
21,274
Net movement in funds
5,635
75,450

81,085
21,274
Reconciliation of funds:
Total funds brought forward
414,096
4,083,291
4,497,387
4,476,113
Net movement in funds
5,635
75,451
81,085
21,274
Total funds carried forward
419,731
4,158,742

4,578,472
4,497,387		 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
£
£
£
£
Income from:
Donations
50,000
30
50,030
57,639
Charitable activities
3
-
7,246,764
7,246,764
7,017,397
Investments
-
44,515
44,515
30,558
Other income
4
35,245
837,382
872,627
833,579
Total income
85,245
8,128,691

8,213,936
7,939,173
Expenditure on:
Raising funds
5
-
5,217
5,217
5,079
Charitable activities
6
79,610
8,096,744
8,176,354
7,906,542
Total expenditure
79,610
8,101,961

8,181,571
7,911,621
Net income before net (losses)/gains
on investments
5,635
26,731
32,366
27,552
Net (losses)/gains on investments
-
48,720
48,720
(6,278)
Net income
5,635
75,450

81,085
21,274
Net movement in funds
5,635
75,450

81,085
21,274
Reconciliation of funds:
Total funds brought forward
414,096
4,083,291
4,497,387
4,476,113
Net movement in funds
5,635
75,451
81,085
21,274
Total funds carried forward
419,731
4,158,742

4,578,472
4,497,387
85,245
8,128,691

5,217

8,096,744
8,213,936		 7,939,173

-
79,610


5,217

8,176,354
5,079

7,906,542
79,610
8,101,961
8,181,571		 7,911,621

5,635
-


26,731

48,720


32,366

48,720
27,552

(6,278)
5,635
75,450
81,085
21,274
5,635
75,450
81,085		 21,274

414,096
5,635


4,083,291

75,451


4,497,387

81,085

4,476,113

21,274
419,731
4,158,742
4,578,472		 4,497,387

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 29 to 45 form part of these financial statements.

Page 26

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee) company number: 004482913

BALANCE SHEET FOR THE YEAR ENDED 31 JULY 2024

BALANCE SHEET AS AT 31 JULY 2024
Note
Fixed assets
Tangible Fixed Assets
9
Investments
10
Current assets
Debtors due within 1 year
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Creditors: amounts falling due after more
than one year
13
Net assets
Total net assets
Charity funds
Restricted funds
16
Unrestricted funds
16
Total funds
428,758
4,652,565		 2024
£
2,012,642
612,152
2,624,794

406,265

2,616,439


3,022,704

(1,257,544)

2,998,798

(1,045,120)
4,578,472
4,578,472
419,731
4,158,741
4,578,472		 2023
£
2,152,505
579,722
2,732,227




1,765,160
-
5,081,323
(2,082,525)
4,497,387
4,497,387

414,096
4,083,291
4,497,387

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Date:

Patrick D’Arcy, Chair of Governors

The notes on pages 29 to 45 form part of these financial statements.

Page 27

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee) company number: 004482913

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024

Cash flows from operating activities
Net cash provided by operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Reinvested income
Investment funds withdrawn
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 29 to 45 form part of these financial statements		 2024
£
2,104,372
 2023
£

563,395
9,144
(88,463)
(3,927)
15,000
10,727

(148,827)

(5,647)

15,000
(68,246)
(128,747)
-
-
2,036,126
2,616,439
434,648

2,181,791
4,652,565 2,616,439

Page 28

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1. General information

St Augustine’s Priory School Limited is constituted as a company limited by guarantee registered in England, No. 04482913, and is registered with the Charity Commission under Charity No. 1097781.

The School’s registered address is Hillcrest Road, Ealing, London, W5 2JL.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Charities Statement of Recommended Practice 2015.

Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee.

Going concern

The Trustees have assessed the School's ability to continue as a going concern. In making this assessment the Trustees have considered several factors when forming their conclusions, including a review of forecasts to July 2026, sensitivity analysis, input from independent school associations and a consideration of key risks.

Looking forward, as with all schools in the independent sector, the school faces a number of political, economic and societal headwinds driven by a range of factors such as the imposition of VAT on school fees, cost of living increases, falling birth rates and the cost of teachers’ pay awards. However, the balance sheet is positive and improving due to recent annual surpluses. Potential risks to the school's viability are mitigated through a longstanding relationship with the landlord, a reputation for providing an outstanding education at a price which compares well with nearby independent schools, investments in strong teaching staff and a refreshed marketing strategy emphasising the special ethos of a single sex, all through Catholic school. The school has fixed price energy contracts to 2028 to insulate itself from the worst effects of the energy crisis. Cost inflation has been addressed in the current year through a 6.5% fee increase. Scenario planning has been conducted and the school is well placed to adjust to the impact that the introduction of VAT on school fees will have on pupil numbers. In addition, the school is seeking to diversify its top line by increasing lettings income.

Page 29

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Having regard to the above the Trustees believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the School’s financial statements.

2.2 Income

Fees receivable and similar income

Fees receivable comprise tuition fees charged to pupils less scholarships and bursaries. Registration fees are non-refundable and are credited to income when received. Deposits are included as a liability until refunded or, on ceasing to be refundable, are credited to income. Advance fees are credited to income as and when they fall due.

Investment income

Investment income from dividends, bank balances and fixed interest securities is accounted for on an accruals basis.

Donations, legacies, grants and other voluntary incoming resources

Voluntary incoming resources are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.

Voluntary income for the School’s general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictions, voluntary income is credited to the relevant restricted fund.

Page 30

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2.3 Expenditure

Expenditure is allocated to expense headings on a direct cost basis. The irrecoverable element of VAT is included within the item of expense to which it relates. Governance costs comprise the costs of complying with constitutional and statutory requirements.

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer-term liabilities. Expenditure attributable to more than one cost category in the SoFA is apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the School's objectives, as well as any associated support costs.

2.4 Advance Fees

Amounts received under the school’s Advance Fee Scheme contracts for education not yet utilised to settle school fees are recorded as deferred income and allocated as current liabilities where the education will be provided within 12 months from the reporting date and as long-term liabilities where the education will be provided in subsequent years.

2.5 Tangible fixed assets and depreciation

Assets are capitalised only when their cost of acquisition amounts to £1,000 or more. A full year of depreciation is charged in the first year an asset is acquired.

Depreciation is provided on all tangible fixed assets in use, other than freehold land, at rates and bases calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

The estimated useful lives are as follows: The estimated useful lives are as follows:
Motor vehicles - 5 years
Furniture, Fixtures and - 3-10 years
Fittings
Computer equipment - 3 years
Building improvements - 3-20 years

Assets under construction are not depreciated until such time as they are brought into use. Once brought into use they are depreciated in line with the above estimated useful lives.

2.6 Investments

Listed investments are stated at market value. The SoFA includes unrealised gains and losses arising from the revaluation of the investment portfolio in the year.

Page 31

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2.7 Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

2.8 Pensions

Retirement benefits to employees of the School are provided through three pension schemes, one defined benefit and two defined contribution. The pension costs charged in the Statement of Financial Activities are determined as follows:

The Teachers’ Pension Scheme - This scheme is a multi-employer pension scheme. It is not possible to identify the School’s share of the underlying assets and liabilities of the Teachers’ Pension Scheme on a consistent and reasonable basis and therefore, the School as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The School’s contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.

The School operates a defined contribution pension scheme and the pension charge represents the amounts payable by the School to the fund in respect of the year.

The School also contributes to personal pension schemes (defined contribution scheme) of some members of staff. Employer’s pensions costs are charged in the period in which the salaries to which they relate are payable.

2.9 Fund accounting

The charitable trust funds of the School are accounted for as unrestricted or restricted income, in accordance with the terms of trust imposed by the donors or any appeal to which they may have responded.

Unrestricted income belongs to the School’s corporate reserves, spendable at the discretion of the Governors to further the School’s Objects. Where the Governors decide to set aside any part of these funds to be used in future for some specific purpose, this is accounted for by transfer to the appropriate designated fund.

Restricted income comprises gifts, legacies and grants where there is no capital retention obligation or power but only a trust law restriction to some specific purpose intended by the donor.

Page 32

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

3. Charitable activities - Fees receivable

School fees
Less: bursaries, scholarships and allowances
Add back scholarships paid for by restricted funds
Net fee income		 2024
£
7,862,918
(681,154)
65,000
 2023
£

7,696,839

(744,442)

65,000
7,246,764
7,017,397

4. Other income

Additional tuition and activity fees
St Augustine's Priory Association
Entrance and registration fees
Commissions and other income		 Restricted
funds
2024
£
-
7,600
-
27,645		 Unrestricted
funds
2024
£

649,873

-

19,760

167,749		 Total
funds
2024
£

649,873

7,600

19,760

195,394
 Total
funds
2023
£

592,965

9,500

23,080

208,034
833,579
35,245
837,382
872,627

5. Cost of raising funds

Fundraising expenses

Financing costs Unrestricted
funds
2024
£
5,217		 Total
funds
2024
£

5,217		 Total
funds
2023
£

5,079

Page 33

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

6. Analysis of expenditure on charitable activities

Summary by fund type

Education
Support costs
Welfare
Premises
Total 2024
Total 2023		 Restricted
funds
2024
£
79,250
360
-
-		 Unrestricted
funds
2024
£

5,453,086

1,696,611

41,025

906,022		 Total
2024
£

5,532,336

1,696,971

41,025

906,022
 Total
2023
£

5,232,179

1,604,949

38,386

1,031,028
79,610
8,096,744
8,176,354		 7,906,542



103,923
7,802,619
7,906,542

Summary by expenditure type

Education
Support costs
Welfare
Premises
Total 2024
Total 2023		 Staff costs
2024
£
4,684,865
778,124
34,434
135,983		 Depreciation
2024
Other costs
2024
£
£

-
847,471

31,926
886,921

-
6,591

196,400
573,639

228,326
2,314,622

297,778
2,337,260		 Depreciation
2024
Other costs
2024
£
£

-
847,471

31,926
886,921

-
6,591

196,400
573,639

228,326
2,314,622

297,778
2,337,260

Total
2024

£

5,532,336

1,696,971

41,025

906,022

Total
2023

£

5,232,179

1,604,949

38,386

1,031,028
5,633,406
228,326
2,314,622
8,176,354		 7,906,542




5,271,504
297,778
2,337,260
7,906,542

7. Auditor's remuneration

Fees payable to the School's auditor for the audit of the School's annual
accounts
Fees payable to the School's auditor in respect of:
All assurance services not included above		 2024
£
30,600
1,500		 2023
£

29,400
1,410

Page 34

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

8. Staff costs

Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
4,325,498
478,566
829,342
 2023
£

4,049,438

450,059

772,007
5,633,406 5,271,504

The average number of persons employed by the School during the year was as follows:

Teaching
Educational support
Premises
Welfare
Management and administration		 2024
No.
63
19
4
2
18
106		 2023
No.

64

17

4

2

17
104

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
£60,001 - £70,000 13 8
£70,001 - £80,000 2 2
£80,001 - £90,000 1 2
£120,001 - £130,000 1 -

The key management personnel are the members of the senior leadership team as described on page 18. Employee benefits paid to this group amounted to £800,891 (2023: £935,879).

Of those shown in the bandings above, 12 were members of the Teachers' Pension Scheme (2023: 10), 4 were members of the Scottish Widows Pension Scheme (2023: 2) and 1 was a member of the Royal London Pension Scheme (2023: 0). Employer’s contributions to Pension schemes in respect of these employees during the year were £264,220 (2023: £147,395). During the year, 3 members of the Teachers' Pension Scheme were transferred over to the Royal London Pension Scheme

The governors received no remuneration during the current or prior year. No travel expenses were reimbursed to governors in the current or prior year.

Page 35

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

9. Tangible fixed assets

Cost or valuation
At 1 August 2023
Additions
Disposals
At 31 July 2024
Depreciation
At 1 August 2023
Charge for the year
On disposals
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023		 Motor
vehicles
£
25,080
14,779
-		 Fixtures
and fittings
£

478,847

26,513

(36,188)		 Computer
equipment
£

423,803

27,395

(38,535)		 Building
Improvements
£

2,807,570

19,776

-
 Total
£

3,735,300

88,463

(74,723)
39,859
469,172
412,663
2,827,346
3,749,040
21,141
4,925
-
465,282

16,389

(36,188)
397,500

31,926

(38,535)
698,872

175,086

-
1,582,795

228,326

(74,723)
26,066
445,483
390,891
873,958
1,736,398
13,793
23,689
21,772
1,953,388		 2,012,642

3,939


13,565


26,303


2,108,698
2,152,505

Included within building improvements are £754,718 (2023: £734,942) of assets under construction which have not been depreciated in the current year.

The land and buildings in which the School operates are owned by the St Augustine's Priory Trust ('the 1941 Trust'). The School has no formal lease, but occupies the property rent free as it has since 1915.

Page 36

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

10. Fixed asset investments

Cost or valuation
At 1 August 2023
Revaluations
At 31 July 2024
Market Value
At 1 August
Income reinvested
Investment manager fees
Increase/(decrease) in value of investments
Investment withdrawals
At 31 July		 2024
£
579,722
3,927
(5,217)
48,720
(15,000)
 Listed
investments
£
579,722
32,430
612,152

2023
£

600,432

5,647

(5,079)

(6,278)

(15,000)
612,152
579,722

The investments (at market value at the year end) are held in the UK and outside of the UK as follows:

United Kingdom
United States of America
Others		 2024
£
316,405
170,975
124,772
 2023
£

333,879

116,825

129,018
612,152
579,722

Page 37

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

11.
Debtors
Fee debtors
St Augustine's Priory Trust
Other Debtors
Prepayments and accrued income
12.
Creditors: Amounts falling due within one year
Pupil deposits
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred Income – Advance Fee payments (note 14)
13.
Creditors: Amounts falling due after more than one year
Deferred Income – Advance Fee payments (note 14)		 2024
£
67,836
110,000
31,586
219,336
 2023
£

150,736

115,000

33,120

107,409
428,758 406,265

2024
£
665,833
147,107
114,600
6,532
120,569
1,027,884
2023
£

704,524

89,193

107,241

5,972

350,614

-
2,082,525 1,257,544

2024
£
1,045,120
2023
£

-
1,045,120 -

Page 38

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

14. Advance fee payments

Parents may pay to the School 9 terms (3 years) of tuition fees in advance. Advance fees are due to be applied as follows:

Within 2 to 3 years
Within 1 year
The movements during the year were as follows:
At 1 August
New contracts during the year
Accounts utilised in payment of fees to the school
Balance at 31 July		 2024
£
1,045,120
1,027,764
 2023
£

-

-
2,072,884
-
-
2,072,884
-
-

-

-
2,072,884 -
15.
Financial instruments
Financial assets
Financial assets measured at amortised cost (a)
Financial assets measured at fair value through the profit and loss account
(c)
Financial liabilities
Financial liabilities measured at amortised cost (b)		 2024
£
4,830,775
612,152
 2023
£

2,800,295

579,722
5,442,927 3,380,017

2024
£
774,083
2023
£
799,689

(a) Financial assets include cash, trade and fee debtors, other debtors and accrued income.

(b) Financial liabilities include deposits, fees in advance, trade creditors and other creditors.

(c) Financial assets at fair value through the profit and loss account comprise investments.

Page 39

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

16. Statement of funds

Statement of funds - current year

Unrestricted funds
General Fund
Margaret Dormer Scheme
Restricted funds
St Augustine's Priory
Association
St Augustine's Parents
Committee
1941 Trust Scholarships
Margaret Dormer Scheme
Chapel Project
Total of funds		 Balance at 1
August
2023
£
3,940,932
142,359		 Income
£

8,128,691

-		 Expenditure
£

(8,101,961)

-		 Gains/
(Losses)
£

48,720

-
 Balance at
31 July 2024
£

4,016,382

142,359
4,083,291
8,128,691
(8,101,961)
48,720
4,158,741
85,231
40,764
-
280,044
8,057
7,600

27,645

50,000

-

-
(360)

(13,507)

(50,000)

(15,000)

(743)
-

-

-

-

-
92,471

54,902

-

265,044

7,314
414,096
85,245
(79,610)
-
419,731
4,497,387
8,213,936
(8,181,571)
48,720		 4,578,472

Page 40

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

16. Statement of funds (continued)

Statement of funds - prior year

Balance at
1 August
2022
£
Unrestricted funds
General Fund
3,905,253
Margaret Dormer
Scheme
142,359

4,047,612

Restricted
funds
St Augustine's
Priory Association
75,806
St Augustine's
Parents
Committee
36,324
1941 Trust
Scholarships
-
Margaret
Dormer Scheme
295,044
Chapel Project
21,327
Grant donations
-

428,501

Total of funds
4,476,113		 Balance at
1 August
2022
£
Unrestricted funds
General Fund
3,905,253
Margaret Dormer
Scheme
142,359

4,047,612

Restricted
funds
St Augustine's
Priory Association
75,806
St Augustine's
Parents
Committee
36,324
1941 Trust
Scholarships
-
Margaret
Dormer Scheme
295,044
Chapel Project
21,327
Grant donations
-

428,501

Total of funds
4,476,113		 Balance at
1 August
2022
£
Unrestricted funds
General Fund
3,905,253
Margaret Dormer
Scheme
142,359

4,047,612

Restricted
funds
St Augustine's
Priory Association
75,806
St Augustine's
Parents
Committee
36,324
1941 Trust
Scholarships
-
Margaret
Dormer Scheme
295,044
Chapel Project
21,327
Grant donations
-

428,501

Total of funds
4,476,113		 Balance at
1 August
2022
£
Unrestricted funds
General Fund
3,905,253
Margaret Dormer
Scheme
142,359

4,047,612

Restricted
funds
St Augustine's
Priory Association
75,806
St Augustine's
Parents
Committee
36,324
1941 Trust
Scholarships
-
Margaret
Dormer Scheme
295,044
Chapel Project
21,327
Grant donations
-

428,501

Total of funds
4,476,113		 Income
£

7,847,655

-		 Income
£

7,847,655

-		 Expenditure
£

(7,807,698)

-		 Expenditure
£

(7,807,698)

-		 Transfers
in/out
£

2,000

-		 Transfers
in/out
£

2,000

-		 Gains/
(Losses)
£

(6,278)

-
 Gains/
(Losses)
£

(6,278)

-
 Balance at
31 July 2023
£

3,940,932

142,359



4,083,291
85,231
40,764
-
280,044
8,057
-
414,096
4,497,387
4,047,612
7,847,655
(7,807,698)
2,000
(6,278)
75,806
36,324
-
295,044
21,327
-




9,500
24,603
50,000
-
-
7,415




(75)
(20,163)
(50,000)
(15,000)
(13,270)
(5,415)




-
-
-
-
-
(2,000)




-
-
-
-
-
-




428,501
 91,518 (103,923) (2,000) -
4,476,113 7,939,173 (7,911,621) - (6,278)

Page 41

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Notes to the statement of funds

The St Augustine’s Priory Association (‘The Association’) has been created to nurture friendships in the School community. It is funded by a one off donation of £150 from each family with a daughter joining the School.

During the year a restricted donation of £50,000 was given by the 1941 Trust towards the funding of Scholarships.

The Margaret Dormer Scheme was established in 2008 with the purpose of providing financial assistance to pupils from families who would otherwise be unable to pay fees.

The Chapel Project was set up to provide kneelers and other ornamentation for the Chapel using the theme 'St. Augustine's Priory's Journey of Faith 1634 - present '. Various kneelers have been provided and the sum of £7,314 will be used to fully furnish the chapel with kneelers and other ornamentaton on this theme.

17. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due after more than one year
Total
Analysis of net assets between funds - prior period
Tangible fixed assets
Fixed asset investments
Current assets
Total		 Restricted
funds
2024
£
-
265,044
154,687		 Unrestricted
funds
2024
£

2,012,642

347,108

2,844,111
(1,045,120)
 Total
funds
2024
£

2,012,642

612,152

2,998,798

(1,045,120)
419,731
4,158,741		 4,578,472

Restricted
funds
2023
£
-
280,044
134,052

Unrestricted
funds
2023
£

2,152,505

299,678

1,631,108
Total
funds
2023
£

2,152,505

579,722

1,765,160
414,096
4,083,291		 4,497,387

Page 42

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividend income
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand		 2024
£
81,085
228,326
(48,720)
(3,927)
(22,493)
1,870,101
 2024
£
81,085		 2023
£
21,274

297,778

6,278

(5,647)

148,913

94,799
2,104,372 563,395

2024
£
4,652,565
2023
£
2,616,439

19. Analysis of cash and cash equivalents

20. Analysis of changes in net debt

Cash at bank and in hand At 1 August
2023
£
2,616,439		 Cash flows
£

2,036,126		 At 31 July
2024
£
4,652,565

21. Pension scheme

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £673,610 (2023: £652,186) and at the year-end £Nil (2023: £Nil) was accrued in respect of contributions 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 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Page 43

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

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 valuation 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 benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation has valued the ‘greater value’ benefits for groups of relevant members.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Other Pension Payments

The School also contributes to Personal Pension Plans (defined contribution schemes) for 38 (2023: 37) non-teachers and 6 (2023: 1) teachers. The regular cost is charged to the income and expenditure account. Contributions paid in the current year were £186,814 (2023: £118,229).

22. Operating lease commitments

At 31 July 2024 the School had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
44,359
80,973
 2023
£

72,288

6,024
78,312
125,332

23. Related party transactions

St Augustine's Priory Trust ('the 1941 Trust') owns the land and buildings at St Augustine's Priory. The School has no formal lease but continues to occupy the 1941 Trust's freehold property rent free, as it has since the School was opened on the site in 1915.

Transactions with the 1941 Trust during the year consisted of the following:

Received - School fees - scholarships awarded 2024
£
50,000		 2023
£
50,000

Page 44

ST. AUGUSTINE'S PRIORY SCHOOL LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

24. Comparative Statement of Financial Activities

Income from:
Donations
Charitable activities
Investments
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income before gains/losses on
investments
Net gains/losses on investments
Transfers between funds
Net income/expenditure
Net movement in funds
Reconciliation of Funds:
Total funds brought forward
Net movement in funds
Total Funds Carried forward		 Restricted
funds
2023
£
57,415
-
-
34,103		 Unrestricted
funds
2023
£

224

7,017,397

30,558

799,476		 Total
funds
2023
£

57,639

7,017,397

30,558

833,579
 Total
funds
2022
£

12,908

6,850,375

9,592

740,742

7,613,617

9,457

7,392,940

7,402,397

211,220

(59,660)

-

151,560

151,560

4,324,553
151,560
4,476,113
91,518 7,847,655
7,939,173
-
103,923
5,079

7,802,619
5,079

7,906,542
103,923 7,807,698
7,911,621
(12,405)
-
(2,000)
39,957

(6,278)

2,000
27,552

(6,278)

-
(14,405) 35,679
21,274
(14,405)
35,679
21,274
428,501
(14,405)
4,047,612

35,679
4,476,113

21,274

414,096


4,083.291


4,497,387

Page 45