Registered Charily No.. 1100392 Registered Company No.. 04347052 ST GEORGE'S SCHOOL WINDSOR CASTLE IA COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITALI REPORT AND ACCOUNTS 31 AUGUST 2024 SOR c ST. GEORGE'S SCHOOL WINDSOR CASTLE REPORT AND ACCOUNTS 31 AUGUST 2024 LEGAL AND ADMINISTRATIVE INFORMATION Appolnted Reslunedl Retlred Commlltees Ikfjyon page 11 SD TRUSTEES.. The Rlghl Reverond C J Cocksworth 30-Nov-23 Tho RfrV0￿n￿ Canon Dr M Powell The ReveTgnd Canon M G Poll Mr¥ T Bla¢klby Mr I Cannlng Mrs J Cornell Mr J Dahl Mr F French Mrs B Sallsbury H Sahdom Mrs C J Scolt F&GPC 01-Sep-23 F&GP, SD, G G.SO FSGP. G. SD E,SD F&GP. SD CLERK TOTHE SCHOOL COUNCIL & BUSIPQESS DIRECTOR.. Mrs K Chorley HEAD.. Mr W D J Goldstnllh-to 31 August 2024 Mrs E Karolyl from 1 September 2024 COMPANY NUMBER.. 4347052 INCQRPORAMON DATE.. 01 September2006 1400392 CHARITY NUM8EIt'. ADDRESS: st George's School Wlndsor Ca5¢19 Wlndsor ¢asllg Wlndsor -91.4 1QF REGISTERBDADDRESS.. St G?org?'s School Wlnd8or Caslle Wlnd$or Ca$llo Wlndsor SL4 1QF BANKERS.. Barclays Bank plc 29130 Hluh Slro8t WlndBor SL41PG AUDITOR.. Haysmac LLP 10 Queeii Street Place London EC4R 1AG ST. GEORGE'S SCHOOLWINDSOR CASTLE REPORT AND ACCOUNTS 31 AUGUST 2024 INDEX PAGE TRUSTEES, REPORT 14 REPORT OF THE INDEPENDENT AUDITOR5 STATEMENT OF FINANCIAL ACTIVITIES 10 BALANCE SHEET CASH FLOW STATEMENT NOTES TO THE ACCOiJNTS 13-20 STGEORGe's SCHOOL WINDSOR CASTLE TRUSTEES. REPORT 31 AUGUST 202A The Board olTrusieey preseniglhe reportgnd financlgl slalemenwol Sl George's School Wndsor Ca$Ue f¢rihtry¢artndei$3f August 2024. The annual report and financlal siaiemenls for the year have been p￿pared In aecordancewtth A¢¢ouollng 8nd Rewrting ol Charibes. Statement of Recomtnended Pracbce 3pplI(zble to charitie5 prepgrin9 thelr 2ccount3 In ac(JYdan￿wth th$ Finan¢i31 Repotting Stand3rd ap￿￿ble in ihe VK and RepU￿1G ol Ireland IFRS 1021 letfedive 1 January 2019} and the compAn￿At12006. STATUS The Sthool Isgovein£d by lis Athles ofAs5￿￿31K)n, a5 amendedan 19 November 2021. estsblL4hedunder theComp8nle$A¢t 1985. The ￿mpanY1$ Ilmiied by yvarnni¢tswith¢ulshare Ca￿1￿1. ORGANISATION The school 15 govemed by the SchDoI Council fihe Coundl?. who are also the Charflable Company's Thieclors $ttd Tru$leos IsomBlim8s releiied lo as GoyeinDfS or CounLyl Membefsl, Gonsisling ollhe Dean and Canons ol Tmndsor and olherappoinled membeis IL$ymembersl- The S¢hwl ¢ounial Is a $ell-appoinling budy, wilh eath lay metnber serving an initial lemi of 5 years. Rellrlng membeis may sland lor ie.elecUon up lo a mbximum tem) 01 10 ypat& Cuirenlly Iheie are el8ven m8tnbgFs. The sch￿ Council Is quorale when the numberof volln9 membersls eqvlvalèni10 the number ol De$n ¥nd Carto￿$ limfjs iwo atKI adding one. Poienllal new Tiusiees 8re 8ppio$¢hed by Ihtr Govornance. Cofflplianc8 and Nominabons Cotntniltee In consultation wlh the Chairman of Ihe Schcd Councll. lo esiabllsh Interest Qv8lifi¢air¢n$ ani$6xpeii8n¢eof candidaie$?re as5&ssed against a skills tnabix lornainlah a baLan￿d scho￿ Coundl. The School Council, which meets ieimty. 1$ responsible foi slralegic planning lo mpel SGhool's obieclives and develop stralegyin relation io acaderniomallers, finan￿. 8dmlnisiraiion m8fftling. TheS¢hool Covndl h¥$ e$i¥Wisheda number of committees lo provide fflore Oelailed COn￿deration ol spedlic fflaller3 prO￿￿e recommend•ik￿$ ¥nd sugu&sYoD$ 10 the School Council. All (vmmiltees refvtolhe School Counc51 termly. These comrnillee5 include.. The Flnance and General Purposes Commmiee, whlch mniiors ihe finanGyaland legal tnanagemenl of Ihe School., Tre Education Comrniltee, which conslders plans lorlhe8¢8deml¢, cuiiE¢ulum and mu8l¢aldwebprnerfol th& Sth)ol Including slaffitbg, The SAfeouardlNJ C¢mmiiieÈ, whlch cons￿61$ all ¥3ffjgu3rding and thlld pioleclvjn malleis. Including Iheoverall weware and wellbelng of Ihe Choristers and olherboarders., Tmo tsDv$rfianco, Gomplian¢e S Nominations Cofflmilleg, i'ihich ￿nSiderS best piacbGe forgovernan￿ and leadeiship of the School aswell a$ en$urfrtg 8ppioprlate oversighlof iegu1aloryc0m￿1a￿￿e. Tre 51Talegy & Oevdopmenl Cofflfflillee, whleh oversees the Imp￿Men1a1knn of the ove1811 $trategy. ¥￿8￿nIng and developmenlof the School Including marketing, admi551on5 and alumnl aelvity- Thedaylo dayopeialrons ol the sc￿1 ale rnana9ed by the Head and the Buslness Dlre¢ior. 8$919ted by the Senlor Le8der$hlp TeaTn and the y1￿e[Sta1(. TheTruslees are$?Ilsfled that th2aC￿UntAeoMP￿W1th slaiutory requlremenls atbdthe ChaiitVs PDveininp dLUtllen￿. TRUSTEESIDIRECTORS Isehool Counclll Trustee5 servino durin9 Ihe yeai are sel oul on the Legal 2nd AdmlnisirÈtive Inform$1￿ page ol the80 a¢¢ounts. T cotnmitlees onwhith the Iruslees seNed in the year aTe also indicaiedon Ihal lab The following commiitees rneel lermly.. Eduealion IE). FlTr8nte & General Purpo$e$ IF&GPI. Safeguaidlng ISI, S1181fygy & DevelopTnenl ISD}, Goveinance. cotllgllan￿ & Nominabons IGI. Chd8topher Co¢ksworth betame Dean of Wndsor. 3 mBTnber of the scho￿ c￿n￿l, in Novetnber 2023. The sch￿.6 Artide5 of AS￿a￿tin prowde thal Ihe Dean ol MThndsor Is ordinarity ihe Ch¥ii DI counul and SD ID Juno 2024 lan CaTrniDp stepped down as Chair lo allow ChfislopheT Cocksworth lo lake up Ihe role. The scho￿ are Qfaieful io l¥n for hls ￿g￿lfl¢ont onliibuiion lo Ihp School duTing his lime as Chairand are ￿eaSedlhal he fernaSns amemberofthe board 2nd theVI￿ Chalr ol Coun¢ll. Tho ¢Dvntylwete atsodtllghitrd lowe1(￿m￿TraceY Blacklpy, a risk and audit5p￿￿all$l, ￿ the CounGiI Iiom Seplernber 2023. ST GEORGE'S SCHOOL WINOSOR CASTLE TRUSTEES. REPORT 31 AUGUST 2024 THE SCHOOL Sl George's SthcM)I Wndsoi C8$Ue has an •lmo$i unbiok¢n hblory golro b8ck lo the duty, eBiaNiSh￿ by slalule in 1352. 10 edu(Hle Ihe choi1$￿￿8 who a¥sl$i Wrfh the worthlp kn Ihe Queen'$ FFee chap￿ ol Our Lady, Sl Edward the Confe550r Sl Georg&ifi WindsorC8s11e. The schwl ha5 expanded over the ￿￿turfe5 and now edurAles gms and boys girt$ from 8ge 3 to 13 &lOng￿￿e the Chorislers. In the yearendBd 31 Augu$12024 ihe School h8d a ioil 01325 sludertls12023.' 333 sludenlsl. &>ardln9 15 avai1aNe on aweekly Dr flexi b¥$l$foi all st￿6n1$ In Yo¥r4 and ¥bove. Wrfh all chorlslers belng weekty boarder5. Ihtobl8doI the ¢har5ty. 89 seloul In theArt￿e5 ofAssodalK)n, L4 to pronK>leand PF0v￿e for Ihe advancemtrni¢l edu¢4iknnof thI￿￿Th In Ihe Un51ed ￿ngdoM and eL4ewhere. OLIR MISSION STATEMENT To ignittr inqulry. Insul a passknn for leamlng and f051er our Chri51ian values. Through Inspi1*iinal teathlw. our ehlldr8n deYet¢p the mindsel8nd skilLs io navigate Iife'sopWunibeB and conlribule toa 9lobal ￿tty. AIMS Our w$h)n 1$ ih81 sludeTrts become Real Ready. Recognlsinp the need to feitnayino ¢du¢¥iion 8nd kn wepare giudents foi the fulure. Ihe schod seeks lodeliver secior-leading educaliDn and a vnNue'le3merlouiAey'foi student$. ACTIVITIES THAT CONTRIBUTE TO THEACHIEVEMEPQT OF THE SCHOOL'S AIMS The sthoDI is fully 8UlhoH$ed 10 delver ihe InleinaiiDng1 Baccalaureaie Piimary YEars Progratnmp {PYPI, an inquiry led appro3rh 10 edu¢¥llon 8nd Is a full member ol the global Round Square netwoik Ini¢rnaiionalism. Democrscy.. Envlronmeniallsm.. AOvenlure-. Leadeiship and Service. Sludenls iako part Ih servtr Eeainlny piok¢t$andedl8boraievéllh s<*oolsfrom aroundlhe nei%York in le550n brne. 50 bioadtrningiheli vndei$tsndlw Df Ihelr p￿￿[n the works PUBLIC BENEFIT SIG￿0$,$ s¢1￿01 1$ a charl13￿e truslvthlch seek5 to benefit the pu￿1￿1hrough Its alms. The Schtyy alms looffer financial supportequlvalenl io allea515%01 grosgfees 10supporisludenis allendin9 ihe school and the Twsiess iegulaity iscuss and rewewlhp Sthwl's buisary pd¢y 10 ensuiÈ il ￿m￿sn8 ￿leY3Th18nd appropriale. During ihe yoar ended 31 Auyval 2024, 12% of students reeEfve6 som&foim som&form oifin¥n¢tql support12023.' 16%). with lolal sup equalling S%olgio$$ fees12023' 5%grossfeesl- The SehDoI 18 proud to have founded'Schou15 I￿ Partntrshlp in 2021. an Inllkilivewih a forvjieim ambllkn lodeve1op. sustain and promoleen6urino partnershipSv￿lh olher sthools In ihtrWnd$or a￿*. loi Ihe benefll olslatfand gludenls a5well as the widercommunity. Ouring the 202314 year 51ud$fiiS fiom Olhei schools allended ouldoorlearnlng workshop5 and an e4ucaiional syfflposium Ihioughlhl¥ p¥rtntrr$hlp and ho$*dg1 the School. Siatl Irorn morelhan 20 lopAI schoolsattendedev4n held by the Patln8ishop on topl¢s Snduding le3dershlp and digllal learfiln9. YheS¢h¢d a¢b¥6ty $eeksts)mmunty engagernenl ac1055 the (¥J[T￿lUM and￿-r￿r￿CllIar piogramtnè. Durinu Iheyear $ludtrtl$ OtIOSS Ihtr Scho￿ frtused an selv￿e learning projpctswhich both educaied Ihe students aboullhewoik ¢1 lo¢al oiyanlsalions and provlded sludenl led oppotiunilies lorfundraislng and pr?clic31 SUPPDrt. r¥l$ed ljnds Ihrough a varkty ol aclivllles and 5pon50red events. many sludBntsspenllime on $iitr¥l lh¢ ¢h81ilitr$ihBy had been r$lln9 lunds for Activit￿S Included. collecling for, deliveiing lo and helping ln the hub ¥1 the Wod$oi Food Shale-. Cle8nlng pens and deeoralino alswan Lilellne. donabtkg profi15 fromlhe'lenner th?118ngè bu$lne$stompelltlon lownlon House care home 8nd collecling an donating funds and resourcesfor bal￿￿$￿8 ¢ai$aftd Dogshome, Wndsor Homeless Prolecland Tharnes Hospice. The sthotrl also supported local org3nisalion$wilh Ihe108n ol ychool rninlbu5es lo support events thp5 for loral choils and community groups andwgre ￿e38$d 10 8galn support Woklng Hlgh SchLK>I's Drama department ihfough th2loan olslaging and provlslon ol ear pafking lac¥lit￿l0 Ihaii G¢SEsludeThls foi a theabe w511 towndsor. ST GEORGE'S SCHOOLWINtsSOR CASTLE TRUSTEES, REPORT 31 AUGUST Z024 STRATEGIC REVIEW ACHIEVEMENTS AIID PERFORMANCE Revlewof tlie Year The yeai W2A a busy And succeyslul one, the PYP cuciltulum eonllnulng io be embedded vp to Year 6 And Ihe further bre￿ing of a Hlgh performan￿ LeaFnlng approach wlh the PSBskills fram￿￿)rk foryeaf 7 and8 Afull calendarof trips, visils. evenis and performances induded h￿hligh1$ suth a5 an exchange pr(wJramTne Krylh Pefflbroke School in Kenya lor year7 and 8 sludBn15. a Gala show¢asiTr9 ifidividval and group ill¥lrumBnlal and choial porformances. the conlregi8¢e b81￿ 'Aiion and the Oolphln,, w¥t¢htrd by its ¢omposei. Jonaih¥n Dove, Sl Geoioe'A Chopel. o ¢h8mber Choir Chrfsim8$ con¢eTI in Sl Jame8. Church In Londcpn and lo the Nonh Wesl ol Engl2nd In May. ngllvily and ha￿e31perfOrManceS from )tindergarten to Year2. drafflaticproduclions foT year4 and 5 a5 well a5 aYear6 produciioTr ol Emll and the delecbves In the Old Courf Thealre. The end of year re51denlial liips were aoain a great success ￿lIh th& resumption of oveTseas trip5 lor ihe first tirne since 2019. Sludenls fiom the Eco Cluè worked lirelessly ihrough IhFyearlo 18lse awareness and encourag8 action ifi r&laliun toourimpa¢i n Ihe envjronmonl 3nd dim¥ie th¥ny$ Ihtr s¢hool ag81n awarded a Green Fl¥g Award wrylh Dl¥iin¢bon 8$ a ￿$￿11 of iheae ellortA. The end ol Ihe ye2r hloh11ghl foi many 3ludenls was belng able 1018ke thelr parents lo vls11 a spec181 exhibibon of ihelr Art wrk on display In the Cha￿1 Cloisters Work Irorn every sludenl Irom Year 2 10 8 sh{A￿sed the diversity of art sluoied and hoyé the ￿e￿5 linked lo each of the siuidenys y￿￿eT leaining and was Been nol only ty latnilies bul aL40 by sevei ihou5and vi5i1015 to the ¢asll&and Cha￿1 ihpexhlbilion. Pupil numbers al 301 in SpplembBr 2024. IDwei than hD9fjd, r¢flecl a small cohort In Y7 Increasing uncértainty In the wder Independtrnl 5thoDI'$ se¢tor. N¢verihtrle$$. ie¢ruiiment Ihlo Kirtdeioarttrn r¥m¥ined Strong and, folltyNing on flom eveni$ Ihioughoul Ihe la$1 ¥¢ademl¢ year. the s¢ho¢l held a Sueceslul 8nd wèll al￿rtded open mornlngs In early October 2024 and March 2025 The 8dmlsglons learn remains busy wth Irequenl visits and tours fiom prospec￿Ve families who indicale greal Interesl In the 5choo1's progre551vecurficulum bul there Is no doubl ihal the ItllP051110Tr of VAT has had an ImpaGI on alfordability lor some latnilies and sludenl numi￿[8 afe lowei than in Ihe pasl. Rewiltnenl and ietenbon ol studenis a5 W811 as diveisificalion ol iTrcomB slro3rn8 romain key arts$ of fo¢u$foi th¢ Tw$ke$ and SthNI l&ad£r8hip. E¥alu¥iion of obl•¢iiv•8 The Bchool's main objectives lor theyear were.. to dèvol¢p th4 t•a¢hlng knd 1è8mlng through turrtclllum dEvèlopmnt and slarfprofasglonèldèvèlopment The Sch￿Icontinue61Q embed the PYP hawTrg recIe￿d lorfflal accrediialion as the first s13ndalon8 prep sthuol lodo so In surnmer 2Q2?. Furfh8rwoTk ID iTriegraltr Ihfj printiplES 3pproa¢h of Hi9h perfoTtn8nce L&ainingwth IhB PSB pr¢ur4mm¢wa$ undÈrt¥ken loensu￿ an elfecllve and siieamllned approach for Ihe oldesisludents ai the school. The Seco￿ year ollhe relreshed appialsal progr£mrne wenl¥ve11 Ivilh regularreviews. dk4cus8lon and t3raelse1￿no enaNing High Performance Learning World Class School ROUND SQUARE to •nh&nco and d*vilopwollb•lng InlUAtlves throughout Ihèschool P8$iwI ¢¥ie #ndwelltyelng iemalned atthe￿Ie olthe schrd ￿th the Head of Sale9U8rdlng and Wellbdng worklng d05elyYAth Ihewlder 51alf and lamilie5 105upwilsludenl and staff wellbeing. Ourqualified Mental Health FiislAid Tiainer delivered training logfoupsof stallatbd paieTrts du15ng the year ¥nd Ihl$ piogiomme Kill be ¢onlinued Ihrouoh 202415. For thÈ Se￿n￿ year. Sludenl3 year 8 were Iralned io lorrn 2 team ol"Peei Llslers" proV￿1n9 anO￿eropl10n for sludenlsvhK>mlghlwanlsotneone io Iislen loor seek advi￿ Irom. The Wellbeing trlubhas continued toprovide ayR￿ing. hotnely8pace forrelaxecl btoaklimos 3nd doliyoryol pa¥ityal svppprt thal maybe nÈedÈd irte1udln9 thr￿gh on SI￿ counselllng lacllilaled by Ihe school And mvslc therapy sesslon5wth ihe school Chaplain Olive, the seltool doa conbnueslo playa keypariollhe Scho￿ wellbeing team and ha5 e51abli5hed her0￿"[a[￿l￿d09 w*ks" as part olthe wellb8ing pio9ratnTne. ST GEORGE'8 SCHOOL VVINDSOR CASTLE TRUSJEES. REPORT 31 AUGUST 2024 promoteMu91c and Iho p&rtormlng for 811 And to Improve Instrumental muslc Th8 8chDol¥d¥$¥foom muwc Ind trXi$ling pl0vl￿on lor Instrument iulllon and chora1 ¢p￿rtunItyeS ¢onUnued to excel and a¢hittve hlgh siandards and hlyh pariityp¥bon. Allgned With a goal lo expanding range and qu81ity ol rnusica opportunllie3 available lo sludenis, 811 classes recleve speda1191 music lesson5 a5 part ol their limetable, with Year 3 51udenls all learning Iheviolln. Pie Prep students iaking part in diutntning wotkshops obJer8ludenis a lluTnbtrr of Insiwtnenla1 ensemNes as Ihe 5ouinBy to lull school orthestra ¢oniinu¥s. In addilv)n lo ovenins ¢on¢¢rts lor in3lrufflenialisi$ and les5 lorffl¥1 lunchlim8 QJSton conctrrf¥ for student$ to pia¢ite performlrtg 10 on audien¢e. Iheie were numerou$ perf¢im8n¢e$ by the variou$ tholfs and Ihe Ch¥mber Cholr performed In several ￿nIC venues across Ihe North We$1. Al Ihe end ¢1 Ihe year 8n audlenee ol over SOO enjoyed ihe choral £nd Inslrumenial perforMan￿S on show 81 the Gala Concert in Sl George's Ch8pel Casiie side R8dio- a sludenl ledweekly radlo bioaéca51conlinued lo bri9hlen FFlday Mornlnoswiih popul8r musio Inietvlews features Ihioughoullhe year. Sludenis from Kindprgarten lo YeaT 8 weieencovragedto lake part In dramab¢a¢bYrfi&s IhroughlhtyO8rwith H¥tve$i8nd Nalivity performances in Pie Prep complemented by'class assetnblie$" held f¢r pa¢ni$, dr$m& embedded in ihe limeiable for all yea[ goups up lo Y&aT T and ws11ing dr3ma workshops lrt¢luding the Icench The31￿ Company lor year S and e. An increastr in $t¥ff meani ihai il Was PO$8lble ￿ offer a reeord number o151udenls the chanee io lake speech and dr8rna ex$mlnaliDns. mosl achleving Dlsunciitsn We are delighted that. from Sepiember 2025. diama ￿111 be on liffleiable for all Year orouDY. to bulld comm￿nIty engagement and enCo￿Tage staff and students to be awarg of tho &hvol'8 8oElal Thg ha$ 8ndoavovred io ￿1h Sha￿ Fe8¢uree$ and enrrjwage sod81 re3pthisl￿1IlY and awaieness auoss the ¢ommunty- A$ t1￿•dY menuoned, the Iocvs on Serv5￿ learning has piovlded sludeTrlswilh opportunibes io con5iderand conlribulelolocal charilles andorganlsationswhilsllhe Schoo15 in Partnershipinilialive ha5 given a numbef of opportunities io benefil staff and sludenis acr055 the member schoo15 in the year. Other activiiies hav8 included hosting a sla11 al ihe Eton Acbon Falr in aid ol the Geoige V day ￿TrI[e. th8 awaid of a Green Flag wilh di$iin¢tion award for Ihe $etond year and patiicipalion and sUPWrt lor the Windsor Rostr and HortiwKvr$1 Show. with Ihtr $¢h¢ol ho$iing a'We11belng Tlpl" and sludenis conlribulin9 to ihB fflU5its1 eni$rfalnmeni ai Ihe eveni. Alumrtl links unllnved lo develop vAlh successlul events held ?1 Christma¥ and again duArtg Ihe $ummer term enabling former sludenis and IheSr lamilles lo ￿MaIn engaged with Ihe school. Theseevenl$. ¥lono With aclivlliesmade possible Mlh SchO￿S acro55 Iheworld through the Round Square membei$hlp. h¥ve allowed sludenis and sialf ioconsider ￿e&r in andcontribulK)n lo sthool, ￿rA1 and global sorAety. The school h$$ ￿nIs￿￿ed to Inves1 In the facllibes WI￿ the maln foGVS belng in devdowng the Pfe Piep and 5PEofiGal nderogrten room. uealln9 a calrn andopen Spa￿ for our youngest 51udenls. The Sch￿1 Council conlinue to mnsidei a number ol prowsa15 for developmentof ihe physical School sile, mindlul of ihe need lo balance ensufing th¢ trdvtsiional offerrerTra1n5e￿￿nl￿lh fuiuiefinani￿l security. ST GEORGE'S SCHOOLWINDSOR CASTLE TRUSTEES, REPORT 31 AUGUST 20Z FUTURE PLANS The Schw1 Iswell wopiessed delNering ils atnbilious2025 stra￿01¢¢J￿¥alOPmeThl ￿an and ￿MIlD$ io the ￿re $1ond¥of Ihlswhilsi ¢oniinuiny to reviw11$ evo1uiion beyond 2025. H8ving £chieved formal acciediiabon lor ￿e PYP In 2025 locus ftow Dn further embeddlng Ihls programme on ensuTing the Cufriculuffl In Year7 and 8 fetnains relevant, £pprowiaiely rigorou5 and enables 51udenis io leave Sl george's equipped forlhe fulure. We r8m3in rommilled loourvisknn foi Biudenis beinp'Real World Ready., an obiectivewhlth remains allhehoartof tho w$ion for ihe $¢h¢ol as11 moves lorwards In coming yearother Obj￿IlV&S￿(e". under our plll8rof If£nslormalknnal learnkng, conunulng toenhance a SeCtor-￿adi￿ C￿￿￿￿J1urn an<$ leawnerlouffiey. buikjing on the acciediiabonsand reco9nilion aGhleved In 2023 lodevelop robust tra￿ing proces$tS". e rollin9 oulof rnenlal health IralniTrg auoss Ih&commuNiiyand the fudh8rdeveWmeni olmind Up auoss the xhool as part olourfocus on wellbping., ensuiinu breathhof opporlunlty acioys the Crealtve gnd Perfoiffling Artslacullles. central to the holstlGedurAlion forour siudenls.. conllnued prornoiion and ￿￿e￿Jp[nenlQI Ih&s¢hool's proud Schoois, partnershlpand focus on Se￿Ce le8mlng Ihrou9h the SIGeDro¥$Award. The￿￿8rd fa¢hg reach of theschool, whlch V￿11 Indude fund[al￿n9 for bursaries, and engagement wllh slumnland the lo¢￿ commvnlty. Is nrr￿d￿￿lr￿l straleglcpillar. The 5th￿1 coniinu85 IDvioikhardwilh par¢n15. $ludenis, te8chers2nd oiher3lakehoklers toa menage the schoDi In Iwhlof ¢h¥nglhg edu¢3li¢n31 land$￿p&s, thal yeodemDgraphlc3and challengin0 political and economlc headwinds. Thisworf enables Ihe Goverrtois lo ensure school remains a safe enwronmpnl forall and ensures ￿￿ellec11v@ managemenlolltF rinanclal. operaboTral. straieglcrisksas%)cialed with Ihe uncertaintyoverlhe currenlecornmi¢*iualtoTr. Allhtr d$tsof ihls ieportlhe GovettLors, whilslnolcotnplacenllo som&of th&￿￿11¢h81￿ny¢s faung Iho Ind¢pendenl edu¢8Von sector, conllnue lo be oplimislir ihallhe woik done- and ¢Qnlinulng- will enable Ihesehwl to be Suc￿SsIU1. FINANCIAL REVIEW Totsl Incorne for theyearwas ES,768.8W12023'. ES,447,021},ofwhich gTOSS S￿￿ lees tolallEd £5,868.30112023. L5,584.0901 and buFsaries and scholaiships piowded io students tolallBd £305,fjfj1 12023. £293.5$61. The school has £lmillM Invested In a managed charity asspl lund. The (und has a target ￿]urfi ol RPI + 4% per annum 8nd Toial expenditure the yearwos £5,974,492 12023." E5,453,9191. Th8 largest caiewy of expBndilure Is St8ff to$￿ ¥llhough ese have lallen as a Yo ol nel lees as a consequen¢e ol rareful plannin9. The IDl81 number oiieathing staff emplDyedwas60 12023-. 571. Costs lose in a numbeT ol a183swilh Ihttfull yearlmpad ol ￿ttewa10f long ￿lM electrlaty contraci581 hlghei rates Y¢abb, yenei81 Inl8Uon lvnnlny altt￿h leve198nd prolessknnal lee5 beln9 h￿her than in recenlyeais. Thg $¢hts￿ ￿TrIlOye$ lo plan inves￿$ThI In f8dllliè$ io Support Ils edueallon81 provlslDn Dunng the year this ha5 indude lurther developments￿lhOè0ardbrng House and Inveslmenlln le1uF￿Sh[nenLO[Ihe Kindefgatienda551QOtn. Capital exp&ndrture iolalled £264,31812023.' £515,941lwilh rnuch of ihis represeniing ihe fai¥lilies invesitnenldesrribed. The feporte¢ a iesull lor the ye8r of 8 neldefiulofE138,75012023 neldeficll.. £71,334). Afuller 5umtMary ollhe iesulis oftheyeafs aciivibes Is in ihe Stalemwiof FlnandalA¢b¥iiitrs. The s¢hool h¥$ noi e￿89¢d In $ny fundral$lng ¥b"V[￿e8 durlng the year but L4 acbvdy expknw raules through development and fundr21￿￿ acy￿ty can be enhanced and amblbons realised. Rlsk8 athd r•sory05 The Sthool Council havtagre8d Ihaiwllh ¢uir¢n18V8IL8tye resource4 Elm wlll be held In {eSe￿e, Intended to rneelone terrn's salary ¢OAl$¥nd ihe ¢o¥ts10 manage unforeseen. unlnsuied risk. This £lm is Invest￿ In a managedchariiies asset fund. The Trusiee5 have discussed In delail. with advice from adYisor¥, Ihe ￿lIabIlity ol Ihe ieser¥e pollw In IhÈ ￿ntext of the Sthcv1's financial position and conspjerlhal it remain$ appropdate lo malnl8ln Ihls re3erve wllcyand io ho￿ reserve in IhL4 Inv¢*mtrni. Thlswill itrmaln under review. ST GEORGE'S SCHOOLWINDSOR CASTLE TRUSTEES. REPORT 31 AUGUST2024 Th& School Coun¢ll ha$ a$$e$*d the major rl$ks lo whlchlhe Chariiablp Company15 expDsed, In fYarbGularlh052 rdated to i optrr¥ii¢n$ and finantss, plu$ the eh$11englng and changing polilical and econornic environmenl, and ks 5alisfied ihal syslem5 a￿ in place lo mlllgale Ilie eX￿S￿re io the major T15k5. Risks are tnonitoied through the leimly su￿1￿[￿￿11teQ tneeiinjs ¥nd reguIAr discussion between members of Ihe School CounrAI and Ihtr s¢tt¢ol'$ Senioi Leadtrrship Ytram and an ¥nnval $ir¥legy day provides an opwrtunity for the Trustees lo debate and di$¢v$$ luiure adlwlles ¥nd dIie¢l￿fi of Ihe s¢ho¢l 8nd Ihe impacl managing speL¥ficrisks atongsidelh8sch￿I's sen￿ Le$dershlpTeam. The rnalor risks that have been Idenlifipd and whiGh nped lo bèiaken IntO8￿￿ntin any fu￿1¥￿6￿$10pmtsftt Indude.. The pio1ecli￿ ol sludenis. stalf visitors 10 th& school. The Governar3 and Senlor Leadershlp leam regularty cons￿er ihg PDlitye$. pro¢edu￿¥ and pio¢ews In place to prevenl harm lo students 51all and visiiorB lo the SchoDI sile. The mfy8suies consldeiedln¢lude physkal securityof the Bile. conlrol ol wsilois and evalualionolwellare provi5run loi 8lud8nlS and s18ft. Affordability qualty of educaboll pr¢vid*d by the school - whether onslte or remDte- and dependenw upon wpil numbers ￿ su$i$ln the school 43 a ￿ng concern. Close moniioring of In the lor￿1 education matkel. widpr I￿ependenl educauon sector and ihe vlews of Ihe current parent body infoTm stralegiG discussion. fe8 slrucluifjs. pupil recruiimenl 2nd reienliDn. Tru51ees and the Senlor Leadeishipleam underfake ckKe and ar￿ tnonitorins ol S¢hool's )sl base lo ensure the school can le5￿n6 lo unexpected change. E￿er￿al Ihreal8 lo the Independent educailon secior from the rhangino polib￿l and economic sitvalion. Close tnonllDrifig ol GovernMenlpollcychAnoes and olherchanges affecbng ihe seclorand tnodelllng ollhe pot&nliaifiTranrp31 orop8raiion81 Impacts ol Ihesechanges alonowilh engagemenlwilh sector ￿leS such a5 ihe ISC. ISYAand IAPS 6n¥bl¢¥ih$ $¢hool'8 leadership team io remain abreaslolchanges and alert lo ih&ir lfflparl and p9$5iW6 ie$ponse$ a$ they emerge. The Head and Business Diiector meet regulaflywilh a governor led T¥$k Foi¢e e$iabll$h¢d tospeclflcally eonslderlhechallengesand Ihreals lo ihe school an6 Ihe wider 9overfiing body 8fe acllvety engaged In explorlng siraleglc opbons Ihal rnlghl mitigate Ihpse risks and ploy￿e lurthei iea¥suran¢e ollhe fulure ￿2th111Y ollhe schod. RESPONSIBILITIES OF THETRUSTEES Company law requires the T￿slee5 lo prepare aceouni¥ for each In$n¢l81 year whkh glve a true gnd falr ￿eW ol the slate of affairs ol Ihe Charitable Comp8ny and ol the ￿n￿nIn9 and oU￿oIng resour￿5 01 Ihe ChariiaNe Comsyany for Ihal yeai. I pIt￿ring Iho$e 8¢¢ounl8. the Trustees are requlred io.. Se￿et Sullab￿ aecounbng poli￿e53nd then ap￿Y themr￿nslSlen1ly. oWrve Ihe melhods and prindples In the Charities SORP. tnakeludgetnenls and esiimalesth81 are r¢aw8ble $nd piudenl. stale Ytheihei applirAble UK accounlitbg standards have b8on gubSe¢t to 8ny malerlal depariure5 dlsclosed and explained inlhB finanrAal slaiem8niS. prepare ihe actounis on the going concem basls unl&&s il is Inappropri810 to sxesum& thai Ihe ¢h8rf18bie company I￿11 conbnue in ￿SSness. The Tru51ees are responsible lor keeping proper aGcounling records which dlsdostr wilh ie8$on8ble attur8¢y al any Ilme Ihe financial posibon of the cA)mwany and io enable Ihetn lo ensufe Ihal ihe attounts ¢omOy wlth the Companles Acl 200S. They are also resPDn5l￿e for safeguarding lh8 assets of lh8 Ch•rit8bl¢ Company and hen￿ for t8￿n0 reasonable Eieps for the eyenlion and detect￿￿ olfi?ud and other Irfeuulariiies In so fara5 IheTru51ees ale aware.. lh￿e Is no relevant audilinforrnatioTrof whth the charilab￿ Companlsau6itors 8rtunaw8re.' and theTru51eeshavelaken all siepslhal iheyoughlto havtriaken 10 make Ihemsefvey awaieol 2ny relewantaudll Infarmallon to establish ihallhe avdit¢r¥ 816 sw¥re oflhai Inftyrn¥140n. lfj NDvembFf 2024, ihe¢h81iiaWe tomp?ny's audlior changed Ils name Irorn Hay5maclntyre LLP lo HaysMaG LLP. In p￿paflng this repurt ihe Ttusiees have iaktn advantage ol ihe Small Companles exempllon5 available. Slgned on beh he Board of TrustF45 Mra ru9tee Approved by thp Boar 1?-06-1 INDEPENDENT AUDITORS. REPORT TO THE MEM8ERS OF ST GEORGE'S SCHOOL WINDSOR CASTLE W2have audited staiemeDtsalStGEowe's scho￿ WndsorCasVelDrlh8 yearendEd 31 Auuu8t2024whkh comprfse the sts*ments ol Flnanth81 Ac1wi￿$s. Ihe BÈlance She81, Cash FI￿ Stotemeniand notes io thtrfinanc￿l slatemeDts. o summary of signrficanl ac¢ounliog poli¢185. Thg finaD¢ial répottsn9 Iiam8woik ihal ha$ beon ap￿18￿ I theignaW9 the preparation oifinonci?I slalefflenls that 5fefteelrom mÉt8riÉ1 mlssta*menl. whetherdue to fraudorgtror. In fi￿n￿87 st8*ments, t￿$198$ aTe r88Ponsi￿efOraS￿eS5￿4 the chÈriiablèeomp8ny'$abllfty lo Mnlinug as ooSnpconc¢rn. dlsdo$ing, as?pplicable. fflaiieis ielated tsooln0e0hcernar￿ uslTrJ the going con¢em basisofaccountin vnlg$$ tsustEeseilherintend to IlquidatÈ the chAiitoble ¢ompany oi lo c¢a59 ope1al￿ng. orhave no rÈali$tittElteinabve èul dDso. Audllor's rllsponslbi1StlBs lofthÈ èudltorthv flnanclal slaternenl$ QurobjECtives&te toobt8in re850nÉble assufan¢¢ oboul iYh8lherthefinancial sLgtemEntSa5 awhrAe•￿IIe9f10rn malerfal miyytatemenl, whetheidue to Iraud orétTor. atbd toissue an audilorfs iep0rtthaiindudesovropln￿n. Roo50Tr?ble assur5[￿ Is a hl9h ley61 of assurance. but nota gu8i£nleEth&i8n èudiicondu¢ted In acwrdanofjwith 15145 IUKlwill de￿et maietial missiatemenlwhen itexists. Mlssialemenis cJn arise from Iraud ore[rorand ale Com￿dered maierial K. Indivldually orln lh8 agiregale, Ihgycould reasonawy expected to irynuenc£ Ihe ttonoml¢ de￿510￿&01￿5ors lakfynon Ih@ basjsolthes finaD¢ial stalemenis. Ineoularfues. Indudlng Ifaud. gTe Instancesof NOTrCo￿Ia￿tBwith laws ar￿ regulellons. Wo des*n prw8(Surps In linDwith aur respon￿b￿lI￿s. ouyined abovE, todetectma￿na1 mis$ia*menisln respeclof irregularits94 IDdUdinofra￿d. Theextenttswhkh ourprocedures Ère e4pÉtsle of detecdnp If￿gUlarhtl¢S, frdudis d2tailEd beknw Based on oyr unders￿ndIng olthegroup and lh£ environment in whlch Ilopeial8$. wg Iden￿rIed ￿att￿£ princwal risksol non- complian￿With lawsand wulti￿n$ relaied to chariiy gndcompany lawapplic8b1e in Ellg1and and ￿les, 8ndwe cons￿¢r￿d Iheextent to whkh non-compliancB mighlhaya a mateii?l Effeclon the lin£ncl&l staiemenis. Wg 9150 considere¢ Ihose lawsand regulauoD$ Ih¥l havg a direct impaclon the prepatation olthe finartclÉl stAl¢menlsEvth as the Companies Act 20QB and the haritiesAct2011. We evaluated managpmanl'sincenbvesand oppurtunibes lorlrdudu1ent manIpul?I￿￿OIIhe financial ststements linduding Ihè iytsk of override lllcontr￿s). Énd detemiined thaithe prfnclpal rt$k5w8ie relaled to revenue let￿nition. In p2￿CUlar In ielauon let0rd￿0 int¢m$ from donollons and charitaN• the carrect a(￿nt￿O perb6.Audft procedur85 pgrfofrned by ngagemF*nllgam induded". -InspEcling cortespundeneÈ ￿rth wulalois.. -Oi#¢usslong Wilh menagemenl c0nsld8Ta￿on of ktvNn orSUs￿￿d Instsnce$ol non-¢ornplIanc•Y￿th and regulallon andfravo., -￿eV￿￿1￿9 thecontrds and procedure9 Ot Ihècharily rel￿aTrt tolh• weparat￿n olthelinanclsl 9tatsmentstoenyurèlheBe were Ih ￿￿te Ihiotsohoullh? y¢ar'. -Evalu?ling rnanagement's Conti￿￿￿e￿i9￿ed to pteventènd de*ciirieguLgdllg5', -IdElltrfying and iestiAgIouinals. In partlw1arloumalentr185 ￿$1￿ wrth unvsual accountcombknBUonB, Posilngs byunu5ual -ch￿12￿91￿9 assutnptions andjudgements n*de by mahBgem&nt In Ihdraccounlinu estitD8tes. INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GEORGE'S SCHOOL WINOSOR CASTLE BEcause of the inherenllimilations olan avdrf. Ihore isa rtsk Ihalwowll not deiecl gll Irregula￿1￿$, In¢lurfSng ihos&le8dlng ￿ a meteiial mIsgts￿Menlln the financial ￿￿terne￿iS or non-compliancewilh re9ulation. This Iisk Increases the more Ihal cornplian¢&with o law0rre9ulal￿n Is removgd IIOM the eventsand tsans&cboh$ renected In thÈliThÉncl&l yiaternÈnts. a3 W2 will bE less likely io bEcome aware of InsLqnces of DOn-Eom￿lary(8. Th8 fisk is al$ogifyalgr T89arding iTh99ulari1195 oxurrfnpdue io Irdud lather Ih8n error. as r￿ud lThwlves intent￿￿£1 concealment. loigery. collus￿n, omi55ion ormisfepresenlation A lurtherdes¢rfpUon olourresp0nsbbllil￿S lorthe auditof Utd finartdel statemEni$ is located on thB Finanua1 RepDrting ¢ounul's websiie at".W4w.Ifoorg.Uklaudiloisfesponsjthlil￿$. ThisdgscApllon forms partolour4udilofs r¢port. UgèofourrÈpDrt Th1$ report Is mod? sohly ioiha chailtabie compan￿* membets. *$ È ￿y, In #ee0￿&￿tÈ￿th Chapter 3 ol P8rt 1601 ¢omp8niES Act 2006. Our8udilwth hasbo8n undortak&n $0 Ihalw& mlghl slate to th•chadia￿￿company% membersihosè matteisw8 ats ie4ulred io Slate to them In En Auditorfs reporiend for no olherpurpose. TDthe fvllesl B*enl PEiffjitted by Iww, w@ do not acc4ptiYa$surnfy re$pon$l￿1lfy banyoneother than the ch8rltBbl¢ ¢4mpAnyand Ihe ch8ritaNè ¢ompAny's mÈmbetS. as a budy, lorouraudilwoik. torthis repod. orlor IhB ownionswa hav8formed. J3n&A$k&w{SenltrrS181utotyAuth Forand on behalf Df HBy$Md¢ LLP, S&lutoryAuditots Dale.. 10 Queon Street 1810612025 EC4R 1AG ST GEORGE'S SCHOOL WINDSOR CASTLE STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT YEAR END 31 AUGUST 2024 2024 Total funds 2023 Totsi lunds Unrestrlcted Restrlcted Note INCOME FROM.. Donatlon5 and legacle5 21,001 21.001 18,050 Charliablg a¢tlvltlos EduGBlion Olher 5.562.e40 11P,842 5.562.640 5.290.534 119,842 79,788 Invèsttnènt lrtcom& 81.393 3.924 65.317 58.649 TOTAL INGOME AND EMDOWMEMTS 5,764.876 3,924 5,766,600 5,447,021 EXPENDITURE ON.. School opeialing cosls 5,894,042 80,450 5,974,492 S,453,919 TOTAL EXPENDITURE 5.894.042 80.450 5,974,492 5,453,919 NET IEXPENDITUREI BEFORE INVESTMENT LOSSES GalnllL05s l on Inveslffltrnl 1129,1661 66,942 176,5261 1205.6921 66,942 16,8981 184.4361 NET MOVEMENT IN FUPIDS IN THE YEAR 62,224 76.526 1138.7501 171.3341 Re¢onclllatlon of funds Tolgl funds brought fotward 2.101,833 210.928 2.312,761 2,384,095 Total lunds Carrlod fokward 2.039.609 134.402 2.174.011 2.312.781 I Income and expenditu￿ derived from continuing acliwiies. All gain5 and losses recognised In IhÈ year artr IntJudÈd abov8. The noles on pa9es 13 10 20 fom part of ihese 8ccounls. Full comparatives for thè ye8r8nded 31 Au9usI 2023 are shown In note 18 10 ST GEORGE'S SCHOOL WINDSOR CASTLE Company number 04347052 BALANCE SHEET 31 AUGUST 2024 Nolg 2024 2023 Flxed a¥sots Tsnglble 2ssets Inv6slmenls 1.415.846 1,049.957 1,502.655 983.015 2,465.803 2.485.670 Currenl asseis Oeblors Cash al bank and Sn hand 1.474.608 1.003.627 1.546.020 733,713 2.478.295 2.279.733 Cr8dltor$: amounls f811ing due within one year 9 12.220.413) 12.200.316) 257,882 79.417 Totol assetg les$ current Ilabllllles 2.723.685 2.565.087 r•diior¥: amounls falllng due after more Ihgn one year 10 1549.6741 1252,3261 Net assets 2.174.011 2.312.781 Capltal and resBrves Funds Reslrlcled funds Unieslrfcled funds 134.402 2,039,809 210.928 2.101.833 2.174.011 2.312.781 Approvod by thg Board of Tvust8è$ and slgned on Its behalf by RLIST Date.. 11-06-L The notes on pages 13 10 20 form part of these accounts. ST GEORGE'S SCHOOL WINDSOR CASTLE STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 ¢a$h provld•d tyllused op•ratlng 4GllYlt￿s 534,232 437.875 4ghllowS trom Invèsiing act5vltlo 1615.9411 (OoGr¢#$¢l In ¢a$h•nd cash •qulvalgnts In Ih•ytRr Cash and cash equlvalents lltlht $tart of th•wr Cash and cash equlv4lents utlhp th*yoAi 811.77B 1.003.626 731712 Ré¢oDclllatlon ofn•lmov•mpntln netfundy kinplGash fltswrromop¢ratlnga¢ifvitlo$ 2024 2023 NBt(•xpond(iur0lfvYlhOy¢AV 1138,750) (71.3341 Adlustm¢n¢$ Iw.. DepieuBlfon unreallseOknssI(9a1￿I On FIX*d￿￿]n¥t$1m¢ {e6,9421 2e4.165 64.4 422.846 Mttvèméniin wtsiklr￿ clpltal Oe¢rea9d(In¢re9sè1 knirad&gnd otherdebiots IfKTeayelnliadp 71.352 317,445 164 86,199 ropiGRsh provldèd byllu&od Inl opoiatlng actSvlllqg 534,232 437.B75 Cash and tash ogvSval•nts CA9h and¢a$hequWanigrBpr8unt.. Cash ai bank 1.OD3.e27 753.713 ThB lloteson pages 131ts20ftsnnpartollhes*a¢MunL*. ST GEORGE'S SCHOOL WINDSOR CASTLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 The pnndpal accounUll9 pdldes adopled. ludgernenls and keysuuices the olth¥ flnandal slalemenlsofth8 Ctharttyweselaulbdow. 141 Ba515 ofaGoounllny The fiftanclal 51elemeniS h$ve boon prtPor¢d In 0¢¢￿0¢ne* wlth A¢￿m￿n9 9nJ R¢pMFn9 ty Ch￿￿$s.. Slatem&Dt of Recommended praC￿Ce ISORPI applIcab￿ to thedties thplr accwnts In accordernce wilh the Flfi8lllc Ropolllno Slandafd IFRSI app¥c8b18 In tho UK and Republk ol Iieland (FR8 1021 let[ecU￿ l Jallu4ry 2019)- chall￿e￿ SOAP IFRS 1021, Ihg Flnonlcal RepOn1r￿ sla￿d$ appHt￿8 ID UK and Republc of Ire￿nd IFRS10218nd th C¢mp4ni¢$A¢I2QQ6. The finandal sLat8mfinlswopreparedln slertlno YthlchlsthBfuncUDnalcuwencyofthBchailty. In ￿￿30 $lgiemEnl$Él¢ f¢und#d iothè n¢al#￿£1. SI Geoiorfy SchDDI Wndyor Caslk thp defin￿0￿ ul B pubJlG bE￿efilen￿ty undefFRS102. afvj Ilabilnl¢$a Inlualtyiecognlsed athlslodca1 Cost￿tranS￿cl1Dn vFAue un1ps5othp￿15estate￿ln Ihe ielevanl£ccounluw PDllcy noies. The cha￿l￿g buslnesi addres$ls SIGBoig&s 8chod.WndzorClls11p.Wndsor, SL4 1QF. Ibl Golnoconcom Al tim¢ ol lh¢ finon¢lol $iai¢m¢ni$. th* Tw$i¢¢$ haw 8 r¢asonab19 *xpéciaiian ihai tharfty has adequate r6sourcestocontinue In DpeialioThBI e￿StenCefOrthPf0Fesee2b￿fV1llre. Thus IhetW51ees COn￿nUel0 Edoplthe The gtswnors havé rÉvlÉw8d Cu[r￿1 alld toietasl finandaland ai8 C￿fldOnlth￿l Schoollswe11placed io add[￿5 Ilè ¢hèllènuè$ thoi lh￿ brfng¥. A¢¢ordlngW th* odno ¢on¢4m bals of pryralbn ol financlal slaiBmenLs ppropn4ts. 01 lynds ¢9n ￿lY bg u$Èd IDr part￿ul￿r Fèsldcied pkn(ptsses iylthln iha obl2cis of lh8 thty. RastrtcltODS arts8 whetE sppdfiEd bythedonDrorwhpn fvndg41¢ ialsedfoi p￿￿￿1￿rI¢>t￿¢i¢d puty06¢S. Ggn¥rg1 Ivnd$ 01• Jnr*$iri¢ied ara ayallablÈ lor dlscmgon of Go¥￿￿r5 furth•ranco of l¢nei$i4bl¢¢ts￿ ¢1￿￿ Lhgrity*)dwhl¢h hA¥ath)t begn 1(rfÈnyothwpurpo￿. h￿e been fflel or are lu&yYAthln the conlrol of theip Is ￿￿￿e￿I(ertainty that IEreiplolln(y)m? ly con￿dEred po&slble8ffld th8Bmounlcan beffloasured relabty. leas8￿1n￿￿dedVAth1￿ Ihe Flnanclal SIalen￿t5 on a re￿¥£￿12 basls thounlslnvoked In edvance Bie dele￿ed and caided foNArd wlthln cr&*lors accwals. vihllst ￿TIou￿tS bul nol yel iecelved kn Ihe year ai• shown vAlhl debiorb piepaymenis. FBP3 IErp1vablè are $t4lpd aft¢1 d¢du¢Nng #ifow8n¢g¥. sthokgrshlps pnd Olh9r iemS$sh)n¥ gianied bythB Ch￿ty. Irt¢r¢$i acc￿ ￿m>spp￿0D@d ba￿￿, ty lo wknclpal ￿￿18ndIn￿ al eff8cl￿fr Inleiest pJiincgmewaSQBllBialed In th¢UK. (•) Voluntsry Income Volunlery Incorne fecelved In c85h by way of donB¥on3 Is InLqudpd In tul kn thp siatem8nl (l F&)￿)e￿￿ knts¥ill*$ receI￿ble ba￿sand1￿￿￿dI￿g as50d&W uNtad. Ihp Ch8Trtips SORP (FR5 1OZI. donaied e¢t¥*¢$ ènd Ig¢iitie¥ o1* ¢èl¢ufai¢d #i 1¢ IhÈ ¢hadty In$bAd ol¢ost lo ￿e donor. t10￿110￿¥ Iecewed for geneial pu[pU￿ of Iho chanty are 10 unl¢$trfCl¢d lund$. Donauon$ sublecl to $pedficwL%hes of ale ctetslied lo re5￿Cted fullds or lu en￿o￿d fundswhBie Iheamuunl requtred tObeh￿￿ as PBnThaTh8Th1capSla1. ST GEORGE'S SCHOOL WINDSOR CASTLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 conl {gl ExpEndlturo and Iir¢¢ov¢rabl$VAT AlexpEndiluie 15 acLKbVnted fot Ec¢￿￿7￿ b&s15. Expglldilure 1$ ￿1￿*￿i•￿t0 ¢xpens¢hgodlno$ ￿ther ¢ng ¢lr¢¢i ¢051 asls. or8PPOrtloned to UMB spent, Ykh8rell Is nol po%￿b￿t0 dlrecWsitrlJuio ¢y4th9e. knyVAT b Induded Ihe Ihl Allocatk>n of SUPPDrt cos19 Support co&ls Iho cost& of wnThlng Ihg Scho￿. kncluding slrategk plaTrniny for future deVelOp￿￿￿t, Blgts Bxtemèl gudil [¢¢9. l¢9018d¥kg lor bo3￿ ¢f govgrrtors Ènd all tosls ot c1mpl￿ng wdlh constiluuonal and siaiu iequirempnts. ￿$1 of gDvemOt4 #nd ol pitporfw accounL% and saUstyln4 accouTrLfjbllity. 111 P•nslon cosis The Sthoul h?$ 8trgnged d¢rined sthem¢$ lor8N•igN. Th* pgnÉbDcosly charged rÈpre&enlthecontrknYon5 pByablobyih& the yeailn accoldance￿th FR51021n conlributionyar¢ thèrg4dtO lh¢ SOFA#¢e¢unih tho p¢il¢d Inwhlcb Ihoyw9 ¢u*. l Employo?benptHy Thè cost& of empknyee benefils Bre recognL%Ed as ll Ilabl1￿ Bnd en expenye. Unleys ￿05￿ co¥iS 1¢4u*¢d to b¢ r¢¢u¢nie¢d 4$ pgrt of rh¢ ¢4st of $Wk or fix¢d sss81& Tha cost any unused hol￿aY entillement Is recognised in PErfodlnwhl¢h lh¢ empw¥s$¢Mc*$aM iec¢fvèd. T¢mln#iion b¢n¢frt$ Ar¢ rgwnlséd as an oxpensewhen th8 Scknlls dEfflDn5tr£btycomm￿d lu Ihe ernployrnenl emplo￿¢r10 proYfd•t•mMaNon ben￿1> Ikl Tanglbl• Ilxoda88•is Depiedalkn Is caknlaied lo write cost less eslhnBIBd res￿& ￿lIu0 ol 01 ion9lbl*fMed 8￿1$ by onnuol Ineiolmgntsowr IhglrÈxpg£ied usgful Iv8s. Ther£iesapplic4blp are.. Ov8r*hD rem8lnknu perfod ofthele8SP 8uUdlnu- 8chooloyfflnaslum 2%p Buldino Impiovement5 IfflBln u¢h¢Ol￿11dln0) 5%.20%pg L¢os*hoid Nnprov•mgni$ Ovei the pe￿0d ofthp leasB Fumltur8gnde4￿1pfflB￿t 10%-33'1)% pa molor￿￿Ides 20%- 25% pa Assai$8r¢notu$uallYeap￿￿Ed￿h￿nlh&rllSe(Ull1felsexpeCIedtobP Ihen 3yeBr Fin8ndal In$trum¢nts ore 2nd sr£￿ied for, Bccwdkng ID the SubslBll￿ of IhB Contr￿1￿￿1 amnyemenl, as fin£￿&7 855ets. li&knlili¢S Or eqjlty InswmÉni&. An e9ully Inslwmenl l& 8ny contr￿L thal evldences 2 le5￿ll&l Inietesl In thB assets of a cornp4lly after dedurtsny ¢1 tts liabililfe$. Wier? fifj9ntb4 assÈis ÉIÈ mBaSur￿ ai fak VAIUB. Ih5& kdeiwmhièdty 18f81￿lCe lo publlctyav&I￿￿Pl￿d￿eS. Im} L•&slnu and purchaso comtnllmen Assets hBld finance lease3 8nd hlre purrh49e ￿n￿O¢￿ts ¥r¢ CA￿1911$¢d È5 ian9fo1È as&8ls and d&predal8d v&r thè thonÈr ol Iheli vsetul econoffliG live3. OblvJalions such ag(¢¢m¢ni¥ •1¢ wlhln Ciedltots. of fin8n￿ thArgè o110v￿d lo fuluTe periods The finance elemenlol the reni41 p&yment 15 charged its eSOFA8CCQUllt a3t0p￿￿￿￿ aun$19ni P￿ADdIcTat￿lIth￿CharQ00n th8n810bl￿aVon8Qu1sI￿nd1￿g In eachperiDd. Renialspald Undoropola￿llQ leasesaretharged tothe SOFA￿ aslialghtlinB bB31$. Tigd¥4fidotherd*bttr$#r¢l¢¢ty￿S¢dattho ÈBlllefflenlBmDuThldue atteranytsadedL%counlotteied. Piepayrnenls aTe valued altheefflountptep4id nel Olanyttad¢di6¢¢un16 {ol Ca8hilbank Casli 81 bank onoln hand Sndudoscb8hBnd lerm h￿h￿lIquI0In¥PSIMPn1￿￿ilh* 5hOrtm*urityolthr¢¢n￿th9*i l¢S$lromth¢oa￿olHGl￿iei￿0n ¢ropÈDlng orthDdepos5t￿sIMIai￿CcollnL 14 ST GEORGE'S SCHOOL WINDSOR CASTLE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST2024 {pl Siocks sIOth$afèv￿Ued ￿l￿el￿¢￿rOfcQ$%￿￿d nBlieBIi5Eblpv4luB. dueellowancefDiobsukte Bnd SI￿ mD¥lnB liems. abAitiesare ￿nISed In ytalemenlsln iespeclolal expMdliurelorYthlththB Charfbjhas a Measur?￿ obl￿￿tIOn, b&llConslwc￿VOorle￿a1, @I Ihe balance sheel da16 Anyexpondllur&whkh l& C￿MIlIed li>. butnol measurabl8 Ir) Ll4utd [￿S0￿rteS tomprfsèèsséis arÈadlWdlsposablg olYalu¢. Th¢y Inrjude ¢9sh ieim depo4l$And bank notl¢è4¢¢OiNit$ h¢kl#$ p¥rfollli¢ Chart￿$m4￿4￿eMtynl Q¢liwliè9. Thèy*xdud# ￿nY$￿￿￿$sell h¢fd89 part￿rIX¢d eS¥FtINve51m¢ni¥. The Chenty IIBchBriIBb￿ Bcli¥SNes. Itl JudaÈméniÉ and kèy sourcésof èstlmalloh untÈrtalniy Inlhp&pplicaUMolthe ChariVsaccountinJpolkl&s. theTtus18os ai•r8quliédto makeluduemenis.•5Umale8and assufflptlons3bou1thec￿1ng amounlofasseisand Nabl1￿5￿at9￿notfead1IY8ppar￿t1r0rn￿￿s0urCes. Thè ÈsIIMAtèsand asso¢iaiÈd as&umpiknns a￿b￿s0d0n Iil&irf¢* eXpgAgn¢*￿othsrf￿￿oI¥lba1￿¢0ftskI?r¢dtots9 Iglwgni. A¢iual I¢￿11#￿&y diff¢f IIOM Ih¢S# ¢$limaie$. The esUfflatesandundertylng assumpUons8re Dn on balss. RwA&lons lo accoun￿￿9•S￿rn81OSgr iocounls&dln the pédod Invthlthth& esllthale Is I￿￿5S￿d, I￿)￿￿1h•r￿w￿0rt allÈcis onty IhaIped￿, IhÈ pÉd¢dofth• ond lulufgpÈritsd$¥￿l¢￿¢ Iiie iÈvi4on Ètf¢¢t& b01h ¢uirent￿afvIYfty pè￿￿d$. Thp lo11￿￿￿gI￿rtUErne￿iSh￿e ked the mDStslgnrfic8nl eNeclon amounls recoynbed In theflnanclalslaiement5'. Badd•bts-Ti8do debiots ale r8vlewédonan annual basls tod8tenrlTh8i¥hotheia bad deblpr0kn1sknshou￿ bèmadè gains1￿Y I￿￿￿. Only%¥hei• IhÈ Twswg$¢on$ldgrrètQVary DIA d¢biiob• unlikely 1$ a pmwtsh)nn74d9. The Schooys mBln bu4￿1￿￿1$IeSSedllla ieducedrentel Cosl￿£s,L￿peryea1fro￿ the Dean& CanDnsof 51 Gwes Chepel. The b￿lIdIng adi￿n8the CesllewalL% and soenables Iheschool lo malntaln build UPDll the1ong h151￿all conTh8clonw41h thr*Cdlo9e OISI Geoi9&. The 1(￿11￿0[1h@ bulldino. vhlh Sls physlcal connecuon lo Ih&Chap&l aièaol 1¢ ollh* Sch¢d. ThoTrusleeshave agreed ￿al. asth8 Sclbool pays a ifiduced rentforthepr(werty.therels8ll exthang8 and lh￿￿10[8 thodonaled fadhllos should D￿br*trealQd as ￿￿￿￿tranSac￿on asdoffnod sn FRS102. Th8va￿a01 Ih&9VI 1$ thor¢f(rf¢not$epar•tdyr¢¢ogn169d Ihtrkac¢ouni$. rhpul feoy 2024 2023 -chorfslets -bDardin9 (¢¢8 -daypuplL% -nurbEry -mlscgllan¢¢vs8ndewJo¥ 536.760 73,034 4.920,893 305,997 31211 478.800 4.590.902 372.364 30.844 5,584,0 Letsg." iuw bUr$Brfes￿d5ChdB￿hIP$ pioiryded ia pupSl¥of the ycho (631,2951 6.237.006 5.a02.534 Add back. con￿bu￿On [ece￿￿dIn respÈctofChortsler Scho￿rshIpS 325.834 2BB.th) 5.562.840 5.290,534 ST GEORGE'S SCHOOL WINDSOR CASTLE NOTES TO THE FINANCIAL SYATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2024 Total ex lal Analyslsol oxpBndllure Charftsblè8cll¥llleg Support Costs TeachlnD 2024 2023 Teach1ny Wellarg P[emiSeS Supwrt Goveinaneecogls 3,307.185 3.3D7.IB5 744.194 746.625 1.028.247 148.241 3,09D.425 636.251 657.6B1 996.728 72,831 744,194 746,62S 1.028.247 148,241 3.307.16S 2.e87,307 5,974,492 5,453,919 Olthetolalexpendknreof£5.453.9fj9Inthpyearend￿3fj AuDusl2023. E3.090.4EBrelBtedtoteachlnBc05134 2.363.491 ielaiedtosupwicosis. Ibl StaN£osls 2024 2023 Employee c051s durlw theyearan￿￿nled1O'. Wag6sèhd salsri&S SoLial se to Ihl$ biiildjno bèèts tapiialisÈd 5s èmttrfsèd ovér Iha iÈmalnlno ol Iho laaso as The nel Yalue of moloF vehldES Indudes £0 12025.. £0) Ill respect of assels hero undei thsES and hiFe purchase conliacts. Thp depredallon chargBln ie5peclofthe5e&syetswas£012023.. £01. Ixed asset InYoStm¥nts 20I4 2024 Value Cost Balan¢0* i S¢pwmbor2023 AddlV¢ns 981015 unre￿￿e¢￿ (los&*•Y￿n¥ Belèn¢¢*31 Augu$l ZQ24 86.￿2 1.ts49,957 1.rKh),000 2024 Markot Valuè 202) Markol Valu* ¢o$t Th8 baLwasA131 Auyusiwagmadg upofthBfollDwlng.' UKQuoigd InvAslmént CBsh 1.W7,879 12,078 969.653 12.078 1,ty)1.731 970,889 12,126 983,015 967,874 1.049,957 i.(th),000 ST GEORGE'S SCHOOLWINDSOR CASTLE NOTES TO THE FINANCIAL8TATEMeNTS FOR THE YEAR ENDED 31 AVGUST 2024 btvt 2024 2023 Yr8d8 debk)n%- teesoYRd(Mkhaelm8s Tern) i)ep¢¢tofChorf51ersthd?14h￿5 IMEch?elma$Tetm) 1,165,880 118.720 S2￿11 137.577 1.252MB2 107.352 44.689 141.597 Olhei Debtors Pr¢paymBnl$und a¢cnJedlnc(Mn 1,474M68 1.546mO C dllors.. amou 2024 2023 Tiade crgdliots Otheri&xes4lld 58curfty OlhFI r￿￿11¢[ School re8sknvDI￿d1n?dv￿¢o-hQty0l1tcel￿- MirhÈelm#9 Ye SthoDI fee&￿vOIce￿I￿￿d¥allCfl-rOc&1¥ed-Mlth￿l￿a￿ Tfjrrn F¢¢$ In Ody￿¢4 $¢ttetTredupYAthlnln oneyea Accrual& 223.393 72.436 334.113 1,284,580 454A63 1S4.80Z 19.800 1.359.7Y 471.10B 2,?20A13 2,2th).311 2024 2D23 Oth¢r¢¢edii¢r$ F801 In 8dV￿c￿ scI￿d￿￿1nMQr¢ lh￿on•Ye#r 241.23Q 308.438 252.)28 549.874 252￿28 Olthè belan￿oi￿O ￿lfee¥ pBld knadvanceolEnll(2023..£nll), £nll 12023'.tlD Idatsstowwntsfalln9 O￿a￿erfly$Y*￿rS. Sl Ggty9*'4 Cagiièl&ar¢mpBny lirnllqd byguBrenleeYAthoutashaie c4pllal Insleadola shai•cagllal.8ach 0￿91￿nIg￿6 ￿ pgy £1 In thg ¢veni 01 Ihè¢tsmp4fiy's ￿4￿[dEli￿. Thp &mDunt olthB gu8ranleo repr888nls a con￿n9￿nIs$sal to Ihè ¢ompany. whthvrii¢ry¥tSlli9¢4nlylfihp EY)mpany uoes Into liquld&tlon. Asthp company k8 a gdng c<)ncorn. th8 memb8rs haya no obllgallon ￿ pBylhe 3Um9uBr8nteed. If. ￿n￿knO up o1th•uMp￿.lhty￿ anya5SelB, afier s&tisfacliDn o10rw￿￿kn￿ dall due debis and IlablSU88. assèts amr¢qulied bylhèComp$nlsM¢m(*Andum BndArlde50fAssodaUDn lob8transfort8dto8chadtyw5th sknllarrUg¢ts. STGEORGE'S 8CHQOLWINDSgR CASTLE NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2024 1 Spptembpr 2•23 31 August 2Q24 Intorno Exp4ndKure Ch¢d$i¢r Bursary Fund Th8 Dev￿0pMentfvnd Robén WErd 8ursary FLYVJ I7￿￿3 184.693 8.702 17,$33 108.617 8,352 3.924 180, 1450) I￿,4$0) 2fj0.828 3.924 IJ4,402 ChL¥rIS￿r Burs& Fund Ihls I￿nd rèw8s8nlsdona￿￿8rrQ￿ 5IGEUtgp'$I)4v¢lopmeniFvnd l￿fOw pu￿039 offUnd￿9 buissrf*$ Iw¢thort¥tirs. Twsl885 l¢vièW lh• UbllsaiiN orthl& luThd when con3iderinB ihg 8ffordA￿l￿O(fft8 SchO￿t0 th0sevAth m¢on8 gnd haw agr88d ¢onsMBr supportlfflo puplls ￿P5￿￿￿thefUTrd. Th?fuAdwas n￿￿￿15s￿&￿￿fknstheyeW. p DpvEIo In 2020 school reCe￿d a bequest of £182,3W) Iwm of J f￿￿er pupll. Thp Estth thg donoi has agréed thal Ih donAllon may b&utilSsed todeveknpthe 3thuulb¢aldinBlats1iUgs a&iyfillas lo 9￿ppOrt 51 Geoiges SthDoI Wndsor Casg8 Buis3ryFund oalo a buisary for pupfllsl (boih boy¥ 01rl$i ol Iliè al thB discfetiDn of the Headma$tef and BurÉar ai ￿￿￿. ThB schod Inl8nds lo bulldlls tulldfeisinD d¢V4opm#niACll￿ltr over comlng yeBrs. hairyny appoiTried O Dgwiopmeni and otficei 2023. and hopes lobulld on thls don4tion iofqtslitAi¥ d*V￿0Pm￿nt ol schodfaulilles and buI5?ry PFoNIsl￿. Djrfno tha llèlundsy￿r@ ulillsod ioalowturther[efu￿i5k￿enioIthe $￿￿1,$bOardInll ladlll obertward Burs Fu Thi$ fvno iva$ èsiabllshtrd by dona￿0￿5 In tr￿ of R(*¢rt Wold and ￿E￿InallY1￿lell￿Ed to ?￿￿de bursgriEY ￿ pup￿S1¥hO￿r• ¢hildrèn tsf MÈmbÉis olihg St A&80cktiDn. The TNs1¢tr8 ollhè Fund have 8oree& Ihallhls tund should b*madg ayallab1e Ip￿￿1$￿ Ihe $¢hots1 iofund theli part￿P￿tion In try$ end by Ih•Schod. Two studEniswete wilh ¢onirfbyikn$ tothÈ ¢O&idÉch(d r&￿￿￿￿￿al lrfpsdutingthpye4r. ¢oMpar4t5YAs lortho 2023 yearpnd alp.. I Soptombsr 2022 31 A￿9￿sI 2023 Exp&ndll￿rè ChorfsierBuiwyFund The D*vÈlapmtrThi Fufid 1B.189 182.390 .702 16551 17•3 184.893 8.702 2.303 WArd RLIF.4xryFL1￿d 2US.2eo 210.828 nal 518 ol n•tassets bpiwee 2024 Unreytrf¢tèd 2024 Rè$trietod funds 2024 Totsl F￿vd ¢$8¢t8 Investsnonls Netcutrenl O14bilili¢&lle$ Lw 1g1rn Ilablllla 1,415M46 I,Q40.057 123.480 1.415.846 fj34.402 257.B82 {549,6741 2,039.809 2028 2023 u￿r￿&l￿￿lld fund¥ ¢Miparal1¥os lorlh•202Jyearonrf4r0'. ftsrtds Total 1.502,6 9È3,015 1,502,655 gB3.015 79.417 Invesknent N¢1 wrn¢niÈs¢¢i$ Long terffl11￿)]liI 210,928 12$2,3281 2.101.833 210.928 8T GEORGE'S SCHOOLWINDSOR CASYLE NOTES TOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 StGw¥$ SL*KK4Wndsor Ca8uBls8ch￿￿b1èÉxjrnp8￿Ya￿d the Tws19e$*¢ oltheopln￿ Ihalll ll eniiied. l¢rihè¢urrentyew. lo Ih¢*x¢mpyona ptoVhl￿bY ThfiCorporaih)TrfaxA¢I 2010. As&consg9U¢rt4Tr) loitaxalknl$i¢qulied. l¢ommltmants A88131 Awugl th￿￿X￿p￿Yhad lalalcomffjllmgni$tsnd¢rn¢n.cBncdl8￿￿ opgr4tingl#aueyEsfolliw4B.' 2D24 2024 2023 L*nd nnd Land and O*h•i othor AJnounts payaWg1n.' 126.722 24.UU5 los.￿) 42D.WI 266.250 17,393 b&fvÈen bvo IDfiveyeais Ovetfiveyears 170￿39 804,349 105,198 791.250 27.￿6 2024 2023 Tolal8xp¢ndi￿￿¢n Upe[BU￿leaSes 1nthDy￿Wa¥.' LandAnd b￿l￿nI¥ Okner ll9￿fj5 105. 20.433 Th¢r*wwrdetsd patty￿￿￿5ac￿0nsr0￿dnQ dledosurgdurfnu theyewl2023..Iioi¢i&te4pBtyI￿%sclO￿•). Ih• go¥id olTlu4ieesarecQn￿dÉW6ttsb0 Ihe ulNmÈtec43ntroUkng pgrly. 18 Co ratlvostatomè 2023 Unr•strfctod runds RoslrfGted ToLIl fund5 INCOME Donatlons and1&44¢1¢¥ 18.0 fiom.. CharfLqbl8 a¢dwN¢$- educ￿D￿ othetec11￿8S 5.29D.534 79.YBB 5.290, 79,780 In¥¢$ini$n15- bBnk Intsrost 56.348 2.30) 58.849 TOTAL INCOME ENDOWMENTS 5.444.718 2.303 S.447.021 EXPEryTURe ¢ Scho￿operAtIng (y)515 5,453,264 655 5.453.91è TOTAL EXPENfATURE S.453,264 655 5.453.919 NET IN¢OMEIIEXPENDiIUREI BEFORE INVESTMENTLOSSES L¢$¥ inveslmenl (8,5461 {e4,4S61 172,9821 1.648 IS.E981 NET MOVEMENT IW FUWDSIIITHE YEAR 1.648 ITI.3341 Totsl lunds bioughlfonvryfd Total lund¥cDrrfod for￿11￿ 209.2eo 2,384,095 210.928 2,912,761