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← Solihull School

2024-08-31-accounts

Solihull School

(A Company Limited by Guarantee)

CONSOLIDATED ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

SOLIHULL

Company Number: 6337650 Registered Charity Number: 1120597

SOLIHULL SCHOOL GOVERNORS AND GENERAL INFORMATION

GOVERNORS

Mr D J Kelly BA

Mr I Ralph BSc ACA Mr A J Burtenshaw MBChB MRCP FRCA Mr J AD Dalby BSc MRICS Mrs H Ellis BA PGCE Dr HM Gay BSc PhD Mr I Green Mrs S J Haslam BA (Hons) PGCE Mrs J A Hetherington BC om (Ace) FCA Dr A S Houghton MB BS MRCS LRCP Mr N R Hurrell BA Mrs C D McNidder BSc Mrs F E M de Minckwitz Mr P G Newby BSc FRICS MCI. Arb Rev RN Parker BA PGCE CTM Mr C M Pullen MBA Prof S P Singh MBBS MD MRCPsych DM Mrs G E Tillman BSc

(Chairman) (Chair, Strategy, Finance & Premises Committee) (Vice Chairman)

(Appointed 5 December 2023) (Chair Education Committee) (Retired 31 December 2024) (Retired 2 October 2024) (Appointed 1 December 2023)

(Retired 31 December 2024) (Chair Marketing Committee)

(Chair Human Resources Committee)

(Appointed 1 May 2024) (Appointed 2 January 2024)

(Chair Pastoral & Safeguarding Committee)

BURSAR AND CLERK TO THE GOVERNORS

Mr R Bate MA ACMA

EXECUTIVE HEADMASTER

Mr. C B Fillingham MA MSc (Oxon) COMPANY NUMBER

6337650

REGISTERED CHARITY NUMBER

1120597

REGISTERED OFFICE OF THE SCHOOL

793 Warwick Road Solihull West Midlands B91 3DJ

Tel: 0121 705 0958

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SOLIHULL SCHOOL GOVERNORS AND GENERAL INFORMATION

AUDITORS

RSM UK Audit LLP Riverrnead House 7 Lewis Court Grove Park Leicester LE19 l SD

BANKERS

Lloyds Bank plc Solihull Business Centre 355 Stratford Road Shirley Solihull West Midlands B90 3BW

INVESTMENT MANAGERS

RBC Brewin Dolphin Limited 9, Colmore Row Birmingham West Midlands B3 2BJ

SOLICITORS

Standley & Co Veale Wasbrough Vizards LLP 1612, High Street Narrow Quay House Knowle Narrow Quay Solihull Bristol West Midlands BS14QA B93 0JU

PROPERTY CONSULTANTS AND SURVEYORS

Carters Surveyors Limited 4 Albany Road Harborne Birmingham, West Midlands B17 9JX

ACTUARIAL ADVISORS

Barnett Waddingham Actuaries and Consultants Limited 2 London Wall Place London EC2Y SAU

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

The Governors present their Report, including the Strategic Report, for the year ended 31 August 2024 under the Companies Act 2006 and the Charities Act 2011, together with the audited Financial Statements for the year and confirm that these comply with the requirements of the Companies Act 2006, the Company's Memorandum and Articles of Association and the Charities SORP (FRS 102). The Report and Financial Statements cover the activities of Solihull School ('the Company'), and its subsidiary Solihull School Enterprises Limited, together known as the Group.

REFERENCE AND ADMINISTRATIVE INFORMATION

The Company was incorporated on 8 August 2007 and is registered in England and Wales under company number 6337650. It is also a Charity, registered with the Charity Commission under charity number 1120597. The Governors, who are also directors of the Company, are listed on page 1. Officers, principal addresses and professional advisers are listed on pages 1 and 2.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Memorandum and Articles of Association as approved on 16 December 2019.

Governing Body

The Governing Body consists of not less than 5 and not more than 20 individuals comprising:

Governors are appointed for a term of 3 years.

Organisational Management

All members of the Governing Body are directors and trustees of the Charity. Meetings of the Governing Body are held four times per year and at least once each term. A Strategy, Finance and Premises Committee is empowered to take decisions as necessary though the day to day management of the School is vested in the Headmaster and the school leadership team. Decisions made by the Strategy, Finance and Premises Committee are reported to, and ratified by, the Main Board who are responsible for the strategic direction of the School's affairs. A Human Resources Committee, an Education Committee, a Marketing Committee and a Pastoral and Safeguarding Committee report directly to the Main Board. The Board has also set up Property and Investment Sub-Committees, reporting through the Strategy, Finance and Premises Committee, to ensure the safe and effective management of the Charity's investment properties and financial investments respectively.

Whilst all members of the Governing Body have collective responsibility for all the matters reserved to them, the Board considers it appropriate to designate individual governors to specifically oversee matters concerning Safeguarding & Child Protection, Special Educational Needs and Disabilities (SEND) and Health & Safety. All members of the Governing Body receive reports, presentations and appropriate training in order to understand and fulfil their obligations in these areas, whilst the designated governors meet more regularly with the relevant senior executives at the School, receive more advanced training and report back to the Governing Body as a whole.

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SOLIHULL SCHOOL

GOVERNORS' REPORT - INCLUDING STRATEGIC REPORT

Governor Recruitment, Induction and Training

A Nominations Committee, comprising the Chairman of the Board and members of the Strategy, Finance and Premises Committee co-ordinate the search for prospective governors. The principal function of the Committee is to identify the skills requirement and likely succession requirements. Before any elections all prospective governors are interviewed in order to establish eligibility, all necessary regulatory and similar compliance requirements are satisfied, the likely commitment is understood and could be discharged, and their background is such that they are likely to bring a positive contribution to the deliberations of the Board.

All new governors receive a copy of the Solihull School Governors' Handbook, which is a guide to the structure and management of the School and the key responsibilities of the trustees. New members also receive:

The core induction programme is supplemented by further tailored induction reflecting the particular knowledge, skills and experience of each individual.

Governors are encouraged to attend training courses and seminars organised by AGBIS and other organisations held regionally and nationally throughout the country. External experts on relevant topics are also invited to speak at meetings of the Board from time to time whilst relevant publications and articles on topical matters appearing in the educational media are circulated to all Governors.

Pay policy for senior staff

The Governors consider that the school leadership team comprise the key management personnel of the charity and that they are in charge of directing and controlling, running and operating the School on a day to day basis. All governors give their time freely and no governor received remuneration in the year. Details of governors' expenses and related party transactions are disclosed in note 4 to the financial statements.

The pay of the senior staff is reviewed annually and benchmarked against relevant comparators and performance considerations. In view of the nature of the charity, the Governors benchmark against pay levels in other independent schools of a similar size. The Governors set the level of pay for the Headmaster, Bursar, Head of the Senior School and Head of the Preparatory School and the Headmaster and the Bursar sets the pay for the rest of the school leadership team within the overall pay settlement parameters approved by the Board.

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SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW

Charitable Objects

The objects of the Charity are set out in the Memorandum of Association and are to advance education by maintaining an independent day school for boys and girls in Solihull which shall have a religious character in accordance with the tenets of the Church of England and provide a liberal education. Within the objects, the Charity promotes the advancement of education and religion by making donations and offering other support to local maintained primary schools and parish churches.

Aims & Objectives

The aims and values of Solihull School are summarised under three themes: Ambition, Opportunity and Community.

Ambition

Staff and pupils are ambitious and seek to maximise potential in one another. We aim to engender an enduring thirst for learning and a sense of well-being, and all members of the school community are encouraged to extend themselves beyond their immediate interests and perceived capabilities. Doing one's best is uppermost and perseverance is very important in achieving our goals. Reflection is ongoing and the genuine belief that we can all be better drives us on.

Opportunity

We aim to provide breadth of opportunity and inspire depth of achievement. Learning takes place in and out of the classroom, at home and abroad, and staff and pupils are encouraged to balance over 450 years of tradition with innovation and creativity. New opportunities are welcomed and embraced and all are encouraged to take risks and learn from failure. The curriculum and co-curriculum are of equal importance and learning for learning's sake is a priority. Intelligence takes many forms and the acquisition of experience, knowledge and skills, whether academic or not and whether tested or not, is very important. Education is holistic and independent thought, exploration and fun are essential.

Community

Christian in our Foundation, we welcome pupils of all faiths and none into a supportive and caring environment. We aim to prepare them for adult life as happy, charitable, confident and intelligent people and all come to understand the value of a strong moral compass and global perspective. Pupils learn the importance of winning with humility and losing with dignity, and individuality and inclusivity permeate all areas of school life. Leadership skills are uncovered and developed and pupils lead with pride, compassion and integrity. Happiness and success are recognised as inextricably linked and all members of the school community are jointly responsible for pastoral care. Looking beyond the school gates, all former pupils belong to a life-long community regardless of distance or the passage of time and are actively encouraged to remain engaged with the school forever.

Our Values

The aims and values of Solihull School are shared across our two campuses for pupils aged 3 to 18 years. Whilst we sometimes tailor the language to suit the age group, the values are unchanging and they are embraced by all.

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW (continued)

Inspection and Awards

The School received an inspection from the Independent Schools Inspectorate (ISI) in January 2024. The School was delighted that the inspection team found that the School had met all required standards alongside many other positive observations.

The School was also delighted to be awarded "Independent Senior School of the Year" at the Times Educational Supplement Awards 2024, a fitting tribute to the efforts of the whole school community.

Results and Achievements

A summary of results and achievements are provided below.

Pupil Numbers. At the end of the Summer Term 2024 there were 1,541 pupils (2023: 1,534) at the School, which was slightly behind the target figure.

Public Examination Results Summer 2024. Once again, the School's results were very strong. At A Level, 80% of grades were at A /A or B, of which 50% were at A _IA._ 51 of the 166 candidates were awarded at least 3 A*/ A grades.

Of those leaving the Upper Sixth in 2024, 96% of pupils secured places at their chosen university in a wide range of subjects, one taking up a place in Spain. Several pupils took up degree apprenticeships, including one on the inaugural asset management scheme at Close Brothers pie. Six candidates with conditional offers for Oxbridge entrance achieved the required grades and have taken up their places.

At GCSE, 78% of all grades were at 9-7. 117 of the 173 candidates achieved 8 grades of 9-7, with 67 of these achieving 8 or more grades of 9-8. 11 pupils achieved 10 or more grade 9s.

Other Academic Achievements. Pupils participated in a wide range of other academic activities.

In the Lower Fifth Biology Challenge competition covering 45,400 students from 621 schools, pupils were awarded 3 gold, 15 silver and 23 bronze awards with a further 26 highly commended and 19 commended results. In the Lower Sixth Intermediate Biology Olympian competition covering 15,000 students from over 300 schools, pupils were awarded 5 silver and 5 bronze awards with a further 3 highly commended and 4 commended. Over 15,000 students from over 900 schools worldwide took part in the Biology Olympiad. Pupils were awarded 1 gold, 3 silver and 7 bronze awards with a further 8 students highly commended and 5 commended.

In the annual Chemistry Olympiad, pupils were awarded 3 gold and 1 silver medals. In the Physics Challenge, pupils in the Sixth Form were awarded 2 gold, 7 silver and 12 bronze medals. Pupils also took part in online and written Physics Challenges for pupils in the Middle School, achieving 13 gold, 37 silver and 9 bronze awards.

In the Junior Maths Challenge, 203 pupils were awarded gold, silver or bronze certificates, with a record number of gold certificates. Fourteen pupils successfully sat the Junior Maths Olympiad. In the Intermediate Maths Challenge, 87 pupils were awarded gold, silver or bronze certificates. In the follow-on round, the Intermediate Maths Olympiad, two pupils were awarded distinctions.

In the Senior Maths Challenge 138 pupils were awarded gold, silver or bronze certificates whilst in Round 1 of the British Maths Olympiad, 4 pupils were awarded merits. Maths Enrichment Clubs including Pi Club and Olympiad Club, continue to thrive and are well attended. Pi Day was celebrated with the baking of maths themed cakes.

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW (continued)

The Lower Sixth Engineering (Industrial Cadets) students completed two projects over the year. One group, mentored by employees of Dennis Eagle Ltd., prepared designs and a scale model of a device capable of lifting and rotating a valve block weighing sixty kilograms. The second team completed an independent project to design and build a skateboard with a hand-gesture controlled throttling system. Both projects were highly commended by the assessment team with the independent (skateboard) team being awarded the most innovative project award for the Midlands area, and the Dennis Eagle team being nominated for the best overall project award. All 12 students were successful in achieving the Industrial Cadets Gold Level Award.

In English, the school's Poet Laureate was commissioned throughout the year to write poems to mark key moments in the school's calendar as well as respond to contemporary events on the national and world stage. Under the department's lead, LAMDA public speaking has continued to flourish. 22 pupils were entered for the Gold Award, achieving 14 Distinctions and 8 Merits.

The School held its inaugural Shakespeare Festival in March 2024. A-Level students from schools across the country along with parents and alumni enjoyed a raft of lectures by some of the most eminent international Shakespearean scholars. In addition, the Shakespeare Project from Jesus College, Oxford Titus Andronicus performed alongside a Shakespearean-themed concert by a CBSO quartet followed by Dame Sian Phillips in conversation with former pupil and acclaimed theatre director, Richard Digby Day.

In Languages, trips and exchanges took place in Germany and France and a new relationship with a school in Valencia was confirmed for 2024/25. In the Routes into Languages Spanish Spelling Bee competitions, pupils represented the school at Regional Finals. In Spanish, pupils reached the final of the Primary Spanish Bee and also the Year 7 Spanish Spelling Bee, both held at Cambridge University.

In Politics, Sixth Form pupils contributed to numerous issues of"Marginal Gains", a pupil produced politics publication. The department also ran a school election in July with pupils representing all the main parties. 68% of pupils in the Senior School voted. Pupils studying Economics and Business entered a number of national essay competitions with one pupil obtaining a merit award.

At 11 +, 10 Prep School pupils were offered academic scholarships to the Senior School. Co-curricular scholarships were offered to Prep School pupils in Art (2), Music (1) and Sport (4).

Co-Curricular Activities. All of our pupils are provided with a wide range of opportunities and challenges through the co-curricular programme. These include academic enrichment including debating, as well as music, drama, dance, sport, outdoor activities, visiting other countries and community service. We aim to provide as varied a life beyond lessons as we can, so that our pupils not only have the pleasure of activity when they are young, but also find and develop skills and interests which will form part of their adult lives.

A number of trips and residential visits were organised for pupils of all ages to support both the curriculum and co-curricular activities. The School also uses the mountain cottage in Snowdonia, providing a venue for outdoor education activities and academic study retreats. The School also hosts visitors from overseas.

The School hosted three notable external events during the year.

We were privileged to welcome Susan Pollack OBE for the groundbreaking verbatim performance of Kindness: A Legacy of the Holocaust. This tells the story of her own experience, enhancing the school and wider community's awareness of the Holocaust. In February, a "Question Time" style event hosted by former pupil and BBC veteran, Michael Buerk who was joined by a number of eminent speakers, including three members of the House of Lords on the 'Future of British Education'. Later in the year, we welcomed Dr Jane Goodall DBE, founder of the Jane Goodall Institute and a UN Messenger of Peace. Dr. Goodall is the world's foremost ethologist, a globally renowned conservationist and best-selling author. Dr Goodall give a lecture entitled 'Reason for Hope' followed by a Q&A about her extraordinary life. She spoke about her pioneering research into the lives of wild chimpanzees in Western Tanzania, the global reach of her incredible work with the Jane Goodall Institute and her reasons for hope.

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SOLIHULL SCHOOL GOVERNORS' REPORT - INCLUDING STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW (continued)

The School also launched a new series of academic enrichment talks, to be known as Loynton lectures. The initial address was given by Prof. Al Cofone, Professor of Geography and Head of the Honors College at Suffolk County Community College, Long Island on the topic 'It's in the DNA; America's Fear of Concentrated Power and Presidential Politics'.

In debating, the School entered multiple teams in many competitions. In the English Speaking Union (ESU) competition, school teams reached regional final rounds. In the Nottingham University Debating competition, school teams reached the bronze, silver and gold level finals.

Participation in the well-established Duke of Edinburgh award scheme remains popular. 27 gold, 75 silver and 87 bronze medals were awarded during the year with a number of further awards ongoing and nearing completion at the start of the new school year. Gold award expeditions took place in Snowdonia and the Lake District. The school expedition to the Atlas Mountains in July 2024 was a great success.

Throughout the year pupils from the Third Form to the Upper Sixth continued to take on the challenge of co-curricular acting lessons and to take both RADA Shakespeare and Trinity solo and pair exams. 4 pupils received gold RADA Shakespeare awards whilst 58 Trinity acting awards were received during the year.

Drama performances were plentiful. The year started with the Middle School and Upper School performing the world premiere of the new musical 9 Teens. The musical featured stories from the Solihull community and it was wonderful to invite those who were interviewed for the production along to the performances. All three performances were well attended. The production team and cast produced a really joyous and powerful piece of ensemble theatre.

Les Miserables In February, a cast, crew and band, totalling over 100 pupils, performed the musical, to four sell out audiences. Other performances included Alice in Wonderland and The Witches, produced, directed and designed by Upper and Middle School pupils and performed by pupils in the Lower School whilst the Prep School production, Shrek the Musical, was performed to two sell out audiences.

Romeo The School Dance Company built on the success of its initial year in 2022/23 with a performance of & Juliet. The 2024 dance showcase had over 125 students, celebrating the community of dance at the school. The School also celebrated the International Day of Dance with a live link to schools in Nepal and India, as well as joint performances with local primary schools.

In music, there were many major concert events as well as many smaller scale informal recitals and external events across all age groups. A particular highlight was the stunning Summer Concert performed in the Royal Birmingham Conservatoire. The pupils really rose to the magnificence of the building, with its specialist acoustics for music; of special note were the solo concerto performances by four music scholars.

Equally successful was the summer music tour to Italy. Members of Chamber Orchestra, Chamber Choir, Saxophony and a Brass quintet gave 4 concerts in beautiful venues in the Lake Garda area. The Senior School's St Cecilia concert was performed to full audiences whilst the Prep School Summer Concert featured The Greatest Showman. a full choir of all pupils in J3 and J4 and a wonderful medley of songs from

Choral music also continues to thrive. Visits to Tewkesbury Abbey and Coventry Cathedral and the festival of Nine Lessons and Carols were notable highlights.

More pupils than ever, ranging from those in II to the Upper Sixth have taken music exams this year. As in previous years, a significant proportion of pupils achieved either merit or distinction level. 2 pupils were awarded music diplomas at a level beyond grade 8, one for clarinet and one for piano.

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SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW (continued)

Boys and girls participate in many different sports with a full fixture and tournament schedule in all sports. The overall purpose of provision is for Sport to be fun and enjoyable for every pupil. Every pupil in the Prep School, Third, Shell, Fourth and Lower Fifth forms represented the School in at least one sport, with significant participation rates in the three senior year groups.

The UI5 and UI6 netball teams reached national finals, where they were placed 4[th ] and 3[rd ] respectively. The senior team reached the regional finals. Many girls represented Super League academy teams.

Both the girls' and boys' hockey first teams played in the National Tier I Championships, playing against the best hockey schools in the country. Unbeaten in the league stage, the boys' team lost on penalties in the quarter final. In the ISH cup, the team reached finals day, losing in the semi-final to the eventual champions. The girls' first team also played in the National Tier I Championships and achieved fourth place. The boys' Ul2 XI were crowned Midlands champions. while the girls' U15 team were county champions and the girls' Ul3 team were Midlands finalists. 4 pupils achieved international honours at U16 and U18 levels.

In rugby, the 1[5t ] XV were semi-finalists in the National Vase and managed to secure a top 10 finish in the Daily Mail Trophy. The Ul5 XV reached the last 16 in the National Vase and earned a top 10 finish in the National SOCS performance leagues. The Spring term brought a number of notable performances in 7s competitions with the l[st ] VII wining the Solihull 7s.

In cricket, the boys' first and U12 teams were crowned county champions. The first team reached the semi­ final of the regional cup whilst the Ul 7 team reached the national final, only to lose to a strong team from Epsom College. The girls' Ul 7 team were crowned National plate winners whilst the UIS team were National champions of the 100 ball competition and reached the final of the National indoor competition held at Lords. The school also hosted successful 6-a-side competitions again and many girls and boys were selected for County age group squads.

In the Prep School, the Ul I f tball team were national finalists whilst the UI I cricket team reached the county final. In hockey, the UI 1 team were placed 4[th ] in the country. The UI I netball team were winners of the borough tournament. A number of Prep School pupils qualified for the IAPS National swimming finals, performing creditably.

Both Senior and Prep School sports days were a huge success with all pupils having the opportunity to win points for their house, be this in tug of war, tennis, f tball or on the track/field.

Other sports with school teams included athletics, skiing, sailing, golf, squash and tennis. In addition to the hockey internationals mentioned above, pupils were awarded international honours in dance, sailing, synchronised swimming, horse polo and squash.

Facilities. The School is committed to providing outstanding facilities in all areas of school life. The project to replace and upgrade the grounds accommodation at the Senior School was completed on time in December 2023 whilst there have been further enhancements to our infant school in Alice House and the commencement of a project to upgrade the school's fire alarm systems. There were also further investments made in the ICT infrastructure.

Staff. The pupil/teacher ratio in the School last year was 10.3. There were a number of internal promotions in both teaching and non-teaching organisational structures. The School continues to acknowledge the professional and dedicated contribution of all staff, both in the classroom and elsewhere.

The School is an equal opportunities employer and complies with the Equality Act 2010. The School is committed to providing equal opportunities in its employment practices and policies and seeks to avoid discrimination in all aspects of employment including recruitment, promotion, opportunities for training, pay and benefits, discipline and selection for redundancy.

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SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW ( continued)

The School is also focused on supporting the continued professional development of all staff, both teaching and non-teaching. This is provided via a mixture of internal and external courses and workshops.

In addition to regular sharing of information with staff both in person and electronically, the Staff Engagement Forum meets twice a year, with representatives from the governing body, senior management, human resources and elected members of both the teaching and non-teaching staff. The Forum receives updates from governors and senior management on the School's operational and financial performance and discusses issues raised by the staff representatives to ensure staff views can be taken into account. Meeting minutes are disseminated to all staff.

Mental Health/Wellbeing. The School continues to offer a wide range of counselling and mental health support services to pupils and the wider school community. Over 80 staff are trained in Youth Mental Health First Aid with a further 23 trained in Adult Mental Health First Aid. Wellbeing and personal development education is fully integrated into the curriculum and delivered by several members of the teaching staff.

Staff wellbeing is continually reviewed by both senior management and Governors with a number of initiatives evidenced throughout the year, including languages, yoga and dance classes as well as specific support for menopause and staff with young children. An Employee Assistance Programme is available to all staff.

Trading Subsidiaries. The Company has a trading subsidiary, Solihull School Enterprises Ltd. The principal activity of this subsidiary is the provision and hiring of facilities to third parties.

The Company also had a 50% shareholding in Day Care at Saint Martins Ltd., which is located on the Saint Martin's campus providing childcare for pre-school aged children (0-5) over 51 weeks of the year. The Company purchased the remaining 50% shareholding on 2 September 2024. From that date, the operation has been renamed Solihull Day Care Ltd.

Financial Report

Net income for the year amounted to £3,026,799 (2023: net expenditure £293,889).

Operationally, an increase in pupil numbers at higher f levels resulted in an increase in f income for the year. This was aided by increases in non-f income but offset by lower levels of investment income. The school also recorded an increase in donation income, including an individual legacy for the Silhillian Fund of £1.7m. The School is also the beneficiary of the residuary of the estate, but as the amount cannot be reliably measured, no further amount has been recorded in these statements. Overall income totalled £26,227,012, an increase of £3,516,821 in the year (2023: total income £22,710,191, an increase of £1,429,045).

The School's cost base is kept under close control. Staff costs increased following increases in salary levels and higher employer contribution rates to the Teachers' Pension Scheme. The School incurred termination payments of £11,000 (2023: £49,697) during the year (see note 4). Operational cost increases were incurred in a range of cost centres, notably in catering, transport costs and building maintenance expenditure.

Realised gains on the disposal of investment properties amounted to £Nil (2023: £Nil). During the year the governors re-valued the portfolio ofinvestment properties resulting in an unrealised gain of £129,000 (2023: an unrealised loss of £240,000).

Realised losses on the disposal oflisted and other investments amounted to £11,465 (2023: gains of £43,782). Unrealised gains on listed and other investments amounted to £842,144 (2023: losses of £163,807).

Expenditure from the restricted and endowment funds during the year amounted to £20,451 (2023: £25,354).

Detailed analysis of the income and expenditure between the various fund accounts is given in note 12 to the financial statements while details of the movement in tangible fixed assets of the School are given in note 7.

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

OBJECTS, OBJECTIVES AND BUSINESS REVIEW ( continued)

Internal Financial Controls. A policy is in place to record the internal controls employed to ensure the good management of the Company's financial affairs. The Policy conforms to guidelines issued by the Charity Commission in leaflet CCS 'Internal Financial Controls for Charities'.

Investment Policy. The Trustees reviewed the Financial Investment Policy during the year and made no changes. The overall investment strategy remains under regular review. The Trustees retain investment advisers and regularly review the portfolio via the Property and Investment Sub-Committees.

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

FUTURE PLANS

Strategic Plan

The school's strategic plan has been reviewed and the intent of the Governors remains to build upon three key strategic elements underpinned by the school aims and motto -Ambition, Opportunity, Community and Perseverantia. The three key strategic elements are:

Specific aspects of this plan include:

School Development

During the year, the School reviewed the Whole School Development Plan for 2023/24, which contained over 100 targets. The vast majority of these were completed and/or progressed. A revised plan for 2024/25 has been established with significant items included as below:

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

Risk Management

The Board of Governors is responsible for the management of the risks faced by the Group. Risks are identified, assessed and controls established.

The key controls used by the Group include:

The major risks are considered to be:

The Governors are satisfied that the major risks identified have been adequately managed. However, it is recognised that no system can give absolute assurance against risk.

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

THE PUBLIC BENEFIT DELIVERED BY SOLIHULL SCHOOL

The Governors attach great importance to providing financial assistance to individuals of ability who cannot afford the f s and also to the School's relationship and involvement with the local community. Our wider charitable obligations are well recognised. Beside financial benefits, our facilities are used for public benefit by outside organisations, local maintained schools and the local community.

The School values and promotes the ethos of service and staff and pupils alike are active members of the local community. Any consideration of the public benefit is related to our stated objectives.

The Governors have complied with the duty in Section 17 of the Charities Act 2011, to have due regard to public benefit guidance published by the Charity Commission. Some of the detailed activities that contribute to the public benefit are shown below:

Grant Making Policy

This year (2023/24), the value of bursaries and scholarships made out of unrestricted funds totalled £1,617,389 (2023: £1,520,919). A further £144,565 was made out ofrestricted funds (2023: £128,963). Such financial assistance helps the School maintain its ethos, academic performance and achievements. The Governors' policy, in line with that of other independent schools, is to make scholarship awards on a wide variety of abilities including academic, art and design, sport, music and performing arts. Bursaries are advertised and are made to applicants on the basis of their financial circumstances. Such awards are means tested and reviewed annually. Bursary awards totalled £1,253,969 (2023: £1,143,139) and were allocated s or 5.4% of net f to 118 pupils (2023: 121 pupils), which equates to 74.3 full f income (2023: 73.5 full f s or 5.4% of net f income). In addition, full f support for 9 Ukrainian refugees, totalling £147,627 was awarded from unrestricted funds.

Assistance to the Local Education Authority (LEA) and Local Maintained Schools

University & Academic Links

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SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

The Local Community

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SOLIHULL SCHOOL GOVERNORS' REPORT-INCLUDING STRATEGIC REPORT

Economic Impact

Using the methodology of the model commissioned by the Independent Schools Council from Oxford Economics, the school has measured its wider economic impact. Key figures include:

Year to August 2024 Year to August 2023
Total contribution to UK GDP £39.69m £35.26m
Total number of UK jobs supported 679 618
Total amount of UK tax supported £12.03m £10.69m
Savings to the UK taxpayer £1 l.OOm £10.95m

Reserves Policy

The School maintains substantial reserves in unrestricted funds. Excluding fixed assets used for school purposes these were valued as at 31 August 2024 at £15,258,616 (2023: £15,124,635). They are almost entirely investments in property, fixed interest bonds, cash and equities. In the year to 31 August 2024 these investments generated an income of£ 1,222,900 (2023: £1,252,738) a significant proportion of which was used to fund scholarships and bursaries.

The Governors regularly monitor the level of reserves and the income generated. They take into account economic factors, variability of income generation and the resultant impact on the levels of school expenditure. The Governors have decided that reserves should be sustained at current levels to ensure that scholarships and bursaries are sustainable and adequately funded both in the short and long term.

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SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

PROMOTION OF THE SUCCESS OF THE ORGANISATION TO BENEFIT ITS MEMBERS

The Governors confirm that in accordance with Section 172 (1) of the Companies Act 2006, they act in a way they consider would be most likely to achieve the charitable objects of the Company. In making this assessment the Governors have considered the following:

General Oversight and Acting Fairly

The long-term sustainability of the Charity's operating model is considered by the Governors as set out in the going concern section of the Governors' Report. Specifically, the Governors consider both short- and longer-term financial projections and the key risks that could negatively impact the School's sustainability. Risk management is embedded at all levels and the most significant risks are discussed at each Board meeting. See page 13 for further details.

All Governors make an annual declaration of business interests and declare if there is any conflict of interest relating to any item on the agenda at each meeting.

Pupils

All pupils benefit from the School's outstanding academic, pastoral, and co-curricular provision. Pupils are actively encouraged to offer suggestions on developing their school experience, for example through School Council or other committees including, but not limited to, Food Council and the Equity Group. The Headmaster also reserves time for pupil "drop-ins".

Employees

The School recognises the qualities, skills and commitment of all its employees, both teaching and non­ teaching. They play a major role in the success of the School. More information as to how the School ensures the interests of employees are considered is outlined in the staff and wellbeing reports on pages 9 and 10.

The Company has complied with the UK's Equality Act 2010 Regulations 2017 which require the publication of information on the gender pay gap for UK employees annually. The School's report is available on the school website.

Parents

The School embraces engagement with parents, through both formal and informal means. There are formal f dback events on pupil progress, Headmaster drop-in sessions and Parents Association events and activities. In addition, there are less formal opportunities for discussion at co-curricular events such as fixtures, concerts and other performances. Parental information seminars are also popular.

Suppliers

The School is committed to ensuring that its objectives and values are reflected in its approach to buying goods and services and is transparent with information and prides itself on building mutually beneficial relationships.

Procurement processes demonstrate fairness and integrity, comply with relevant laws and regulations, keep information confidential and secure and ensure best practice is followed. The School seeks to promote and apply the highest standards of business conduct and adheres to all applicable laws and regulations relating to fraud, bribery and corruption (including the UK Fraud Act 2006 and Bribery Act 2010).

Community

The School is proud of its place in the local community and more information about the engagement and partnership activities that have taken place are outlined within the section entitled "The Public Benefit Delivered by Solihull School" on pages 14 and 15. The School's report is available on the school website.

Page 17

SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

STREAMLINED ENERGY & CARBON REPORTING (SECR)

Under SECR guidelines, the School has calculated its greenhouse gas (GHG) emissions and energy use for the period I September 2023 to 31 August 2024. This is for those assets owned or operated within the UK as defined by the operational control boundary. This includes the senior and prep school campuses and minibuses along with the mandatory inclusion of Scope 3 business travel in employee owned or hire vehicles.

Baseline Reporting Year
2022-2023		 Current Reporting Year
2023-2024
UK GHG Emission and
Energy Data		 UK GHG Emission and
Energy Data
Energy consumption used to calculate
emissions (kWh); all mandatory energy
sources are included.		 6,758,406 6,023,957
Scope 1: Emissions from the combustion of
Natural Gas tCO2e		 722 563
Scope 1: Emissions from combustion of
Fuel for transport and / or heating tCO2e
_(see _evidence pack for breakdown)		 303 332
o
Scope 1: Emissions of Biomass Pellets
tCO2e
Scope 3: Emissions from business travel in		 0 0
Scope 3: Emissions from business travel in
employee-owned vehicles, where the
company repaid mileage claims tCO2e
{average vehicle/ fuel source unknown)
Scope 2: Emissions from purchased
Electricity tCO2e		 3
334		 3
329
Total gross CO2e based on above (tCO2e) 1,362 1,227
Intensity Ratio 1:kg CO2e gross based on
mandatory fields above per pupil:		 888 kg CO2e per pupil 796 kg CO2e per pupil
(1,534 pupils)		 888 kg CO2e per pupil 796 kg CO2e per pupil
(1,541 pupils)

The School is pleased to report a reduction in Intensity ratio 1 (CO2e per pupil) of 11.6% over the year.

The School is undertaking the following energy conservation actions:

Page 18

SOLIHULL SCHOOL GOVERNORS' REPORT- INCLUDING STRATEGIC REPORT

STREAMLINED ENERGY & CARBON REPORTING (SECR) (continued)

Other sustainability initiatives include:

AUDITORS

The Board has decided to recommend RSM UK Audit LLP for re-appointment as auditors to the Company. RSM UK Audit LLP has indicated its willingness to continue in office. A resolution re-appointing them will be submitted to the forthcoming Annual General Meeting.

PROVISION OF INFORMATION TO AUDITORS

The Governors who were in office on the date of approval of these financial statements have confirmed, as far they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the Governors have confirmed that they have taken all the steps that they ought to have taken as Governors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

The Governors' Report, including the Strategic Report, was approved by the Board on 18 March 2025 and signed on their behalf by:

Page 19

SOLIHULL SCHOOL

GOVERNORS' RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS

The Governors (who are also trustees and the directors of Solihull School for the purposes of company law) are responsible for preparing the Governors' Report including the Strategic 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 governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the governors are required to:

The Governors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Governors are aware:

Page 20

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLIHULL SCHOOL

Opinion

We have audited the financial statements of Solihull School (the 'parent charitable company') and its subsidiary (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Statement of Financial Activities (including income and expenditure account), the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial 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 group's or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 21

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLIHULL SCHOOL (CONTINUED)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report or the Strategic Report included within the Trustees' Report.

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees' responsibilities set out on page 20, 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 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 group's and parent 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 group or parent 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.

The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities are instances ofnon-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

Page 22

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOLIHULL SCHOOL (CONTINUED)

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 201 l, the parent charitable company's governing document, tax legislation and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the fmancial statements which included reviewing the financial statements including the Trustees' Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence with local tax authorities and evaluating advice received from internal/external advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are The Education (Independent School Standards) R egulations 2014, Keeping Children Safe in Education under section 175 of the Education Act 2002, and the UK General Data Protection Regulation (UK GDPR). We perfonned audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The group audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures perfonned included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business.

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

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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

GARETH JONES (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants Rivermead House 7 Lewis Court Grove Park Leicester LE19 lSD

Date 25 April 2025

Page 23

Solihull School

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 August 2024

Notes Unrestricted Restricted Endowment Total Total
funds funds funds 2024 2023
£ £ £ £ £
Income and endowments from:
Donations and legacies 75,730 1,902,525 1,978,255 301,012
Charitable activities:
School fe s 21,872,085 - 21,872,085 20,172,568
Other educational income 69,760 69,760 63,204
Other ancillary trading income 1,015,018 1,015,018 858,126
Investments 2 1,222,900 68,994 1,291,894 1,315,281
Total Income 24,255,493 1,971,519 - 26,227,012 22,710,191
Expenditure on:
Raising funds (199,823) (9,645) (209,468) (227,670)
Charitable activities:
School operating costs (23,939,618) (10,806) - (23,950,424) (22,416,385)
Total Expenditure 3 (24,139,441) 3 (24,139,441) (20,451) - (24,159,892) (22,644,055)
Net gains/(losses)on investments:
Net gains/(losses)on investment
properties 129,000 129,000 (240,000)
Net gains/(losses) on other investments Net gains/(losses) on other investments 645,136 124,868 60,675 830,679 (120,025)
Total net gains/(losses) on
investments 774,136 124,868 60,675 959,679 (360,025)
Transfer between funds 12 261,052 (261,052)
Net income/(expenditure) and net
movement in funds 1,151,240 1,814,884 60,675 3,026,799 (293,889)
Reconciliation of funds:
Total funds brought forward 55,520,105 1,707,947 576,030 57,804,082 58,097,971
Total funds carried forward 56,671,345 3,522,831 636,705 60,830,881 57,804,082

The Statement of Financial Activities also complies with the requirement for an Income and Expenditure Account under the Companies Act 2006.

Page 24

Solihull School

CONSOLIDATED BALANCE SHEET 31 August 2024

Company Registration No. 6337650

Notes Notes
2024		 2023
£ £
Fixed assets
Tangible assets 7 41,412,729 7 41,412,729 40,395,470
Investments 8 20,986,886 8 20,986,886 20,082,337
62,399,615 60,477,807
Current assets
Debtors 9 3,215,760 605,139
Short term deposits 8,727,587 511,017
Cash at bank and in hand 932,449 2,275,135
12,875,796 3,391,291
Creditors:Amounts falling due within one year 10 (7,993,035) (5,648,612)
Net current assets/(Iiabilities) 4,882,761 (2,257,321)
Total assets less current liabilities 67,282,376 58,220,486
Creditors:Amounts falling due after more than one year 11 (6,451,495) (416,404)
Total net assets 60,830,881 57,804,082
The funds of the Group:
Endowment 12 636,705 576,030
Restricted 12 3,522,831 1,707,947
Unrestricted 12 56,671,345 12 56,671,345 55,520,105
Total Group funds 60,830,881 57,804,082

Approved by the Board of Governors and authorised for issue on 18 March 2025.

Chairman

MrRBate

Bursar and Company Secretary

Page 25

Company Registration No. 6337650

Solihull School CHARJTY BALANCE SHEET 31 August 2024

CHARJTY BALANCE SHEET
31 August 2024gust 2024ust 2024
Company Registration No. 6337650		 Company Registration No. 6337650pany Registration No. 6337650any Registration No. 6337650y Registration No. 6337650Registration No. 6337650gistration No. 6337650 Company Registration No. 6337650pany Registration No. 6337650any Registration No. 6337650y Registration No. 6337650Registration No. 6337650gistration No. 6337650istration No. 6337650 Company Registration No. 6337650pany Registration No. 6337650any Registration No. 6337650y Registration No. 6337650Registration No. 6337650gistration No. 6337650istration No. 6337650
Notes 2024 2023
£ £
Fixed assets
Tangible assets 7 41,412,729 7 41,412,729 40,395,470
Investments 8 20,986,887 8 20,986,887 20,082,338
62,399,616 60,477,808
Current assets
Debtors 9 3,149,377 598,876
Short term deposits 8,727,587 511,017
Cash at bank and in hand 816,753 2,134,386
12,693,717 3,244,279
Creditors:Amounts falling due within one year 10 (7,979,885) (5,639,833)
Net current assets/(liabilities) 4,713,832 (2,395,554)
Total assets less current liabilities 67,113,448 58,082,254
Creditors:Amounts falling due after more than one year 11 (6,451,495) (416,404)
Total net assets 60,661,953 57,665,850
The funds of the charity:
Endowment 12 636,705 576,030
Restricted 12 3,522,831 1,707,947
Unrestricted 12 56,502,417 12 56,502,417 55,381,873
Total charity funds 60,661,953 57,665,850

Net movement in funds for the parent charity was a increase in funds of £2,996,103 (2023: a decrease of £335,412). Net income for the parent charity was £2,996,103 (2023: net expenditure of £335,412).

Approved by the Board of Governors and authorised for issue on 18 March 2025.

MrRBate Company Secretary

Page 26

Solihull School

CONSOLIDATED STATEMENT OF CASH FLOWS ~~—~~ for the year ended 31 August 2024

2024 2023
£ £
Cash flows from operating activities:
Net cash provided by/(used in) operating activities 7,608,245 451,957
Cash flows from investing activities:
Dividends, interest and other income from investments		 1,291,894 1,315,281
Purchase of investments
Proceeds from sales of investments
Proceeds from sales of investment properties
Purchase of tangible fixed assets		 (858,089)
348,755
530,000
(2,081,385)		 (2,248,648)
2,032,027
(838,015)
Net cash used in/(provided by) investing activities (768,825) 260,645
Cash flows from financing activities
Receipts/(payments) of endowment
Change in cash and cash equivalents in the reporting period 6,839,420 712,602
Cash and cash equivalents at the beginning of the
reporting period 2,857,443 2,144,841
Cash and cash equivalents at the end of the reporting
period 9,696,863 2,857,443
Reconciliation of net income/(expenditure) to net cash
flow from operating activities
Net income/(expenditure) for the reporting period		 3,026,799 (293,889)
Adjustments for:
Depreciation charges 1,064,126 1,347,332
Net (incoming)/outgoing endowment resource (60,675) 9,912
Net (gains)/losses on investments
Dividends, interest and other income from investments		 (899,004)
(1,291,894)		 350,113
(1,315,281)
Increase in debtors (2,610,621) (80,243)
Increase in creditors 8,379,514 434,013
Net cash provided by/(used in) operating activities 7,608,245 451,957
Analysis of changes in cash and cash equivalents b/f Movements elf
£ £ £
Cash at bank 2,275,135 (1,342,686) 932,449
Cash awaiting reinvestment 71,291 (34,464) 36,827
Short term deposits 511,017 8,216,570 8,727,587
Total cash and cash equivalents 2,857,443 6,839,420 9,696,863

Page 27

Solihull School ACCOUNTING POLICIES

GENERAL INFORMATION

Solihull School is a charitable company incorporated in England and does not have share capital. The group consists of the charity and its subsidiary and Solihull School Enterprises Limited. The nature of the group's operations is set out in the Governors' Report. The address of the Charity's registered office is 793 Warwick Road, Solihull, West Midlands B91 3DJ.

BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ( effective l January 2019) - Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Solihull School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. In accordance with FRS 102 the parent charity has taken advantage of the exemption from the disclosure requirements of Section 7 'statement of cashflows' - Presentation of a Statement of Cashflows.

The financial statements are presented in sterling which is also the functional currency of the charity. Amounts in these financial statements are rounded to the nearest £, except where otherwise stated.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below:

BASIS OF CONSOLIDATION

The group accounts consolidate the financial statements of Solihull School ('the Charity') and its subsidiary. All financial statements have been drawn up to 31 August. The financial statements consolidate the results of the Charity and its subsidiary on a line by line basis with all intra-group transactions and balances being eliminated on consolidation. Surpluses and deficits of organisations entering or leaving the group are included from the date of acquisition or up to the date of disposal. The charity has taken advantage of the exemption available under section 408 of the Companies Act 2006, to omit its profit and loss account from the statutory group accounts.

The joint venture is not material to the group therefore the joint venture is not included in the consolidation. The investment in the joint venture is stated at cost. Details are shown in note 17.

SCHOOL FEES AND OTHER INCOME

School f s and other operating income comprise amounts receivable in respect of the school year.

Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the School. Fees received in advance of education to be provided in future years are treated as deferred income and included within creditors.

INCOME FROM INVESTMENTS

Income from investment properties comprises amounts receivable in respect of the school year.

Income from investments, deposits and loans are credited to the statement of financial activities on a receivable basis.

DONATIONS, GIFTS AND LEGACIES

Donations, gifts and legacies are accounted for on a receivable basis. Where assets have been donated, a cash equivalent is included.

Page 28

Solihull School ACCOUNTING POLICIES

EXPENDITURE

Expenditure is accounted for on an accruals basis. Overhead and other support costs not directly attributable to functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff time or space occupied, as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates.

Investment management costs comprise the amounts incurred in managing the investment property and listed investments.

School operating costs comprise amounts incurred, other than investment management, in respect of the current school year. Expenditure incurred in advance of the following school year is carried forward in prepayments.

Governance costs comprise the costs of running the Group, including strategic planning, external audit, any legal advice for the Governors, professional indemnity insurance for Governors and officers, and all the costs of complying with constitutional and statutory requirements, such as the costs of Board and Committee meetings and of preparing statutory accounts and satisfying public accountability.

LEASED ASSETS

Rentals under operating leases are recognised on a straight-line basis over the lease term.

FUND ACCOUNTING Funds held by the Group are:

Unrestricted general funds

These are funds which can be used in accordance with the charitable objects at the discretion of the Governors. In addition, the Governors have designated certain funds for particular purposes.

Restricted funds

These are funds that can only be used for particular restricted purposes within the objects of the Group. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Endowment funds

These are funds held permanently by the Group, principally investments. Income ansmg on these investments can be used in accordance with the terms of the endowments and is unrestricted.

TANGIBLE FIXED ASSETS AND DEPRECIATION

No depreciation is provided in respect of freehold land or assets under the course of construction.

Depreciation is provided on a straight line bases to write off the cost less estimated residual value of fixed assets by equal instalments over their estimated useful economic lives. These rates are currently as follows:

Fixed assets with a zero net book value at the beginning of an accounting year are treated as if they are no longer in use and written off the fixed asset records during the year.

Page 29

Solihull School ACCOUNTING POLICIES

REFURBISHMENT COSTS

All costs in respect of refurbishment of the school are charged to the statement of financial activities in the period incurred. Additionally, accruals are made for all expenditure that the school has incurred at the year end.

INVESTMENTS

Investments are carried at fair value at the year end. For listed investments, this is the market value, as advised by the investment manager. For investment properties, this is the fair value as determined by the Governors, advised by external professionals. All movements in value arising from a change in the fair value of an investment are shown in the statement of financial activities as an umealised gain or loss. Realised gains and losses on investments are calculated as the difference between the disposal proceeds and the amount at which the investment was valued at the beginning of the year, or cost if purchased during the year.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any impairment. An assessment for impairment is made at each reporting date.

DEBTORS

Trade and other debtors which are receivable within one year are initially recognised at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impainnent losses.

SHORT TERM DEPOSITS

Short term deposits represent amounts on deposit for greater than three months but less than one year.

CASH AND BANK BALANCES

Cash and bank balances includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition.

TRADE CREDITORS AND LIABILITIES

Trade creditors payable within one year are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Refundable parental deposits are shown as due within one year to reflect that deposits are repayable once any individual pupil has left the school and that parents need only give the school one term's notice of an intention to leave.

FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

TAXATION

The charity is exempt from taxation on all of its charitable activities. Profits made by the subsidiary trading company are distributed to the parent charity under gift aid.

RETIREMENT BENEFITS

Retirement benefits to employees of the school are provided by the Teachers' Pension Scheme ('TPS'), a Standard Life Group Personal Pension scheme ('Standard Life') and an Aviva Pension Trust for Independent Schools (' APTIS '). The TPS is a defined benefit scheme, contracted out of the State Second Pension, and the assets are held separately from those of the school. All non-teaching staff are members of the Standard Life scheme, which is a defined contribution scheme, in accordance with pension auto-emolment legislation. Teaching staff have the option to opt out of the TPS and join the APTIS scheme, which is a multi-employer defined contribution scheme.

Page 30

Solihull School ACCOUNTING POLICIES

The Government TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees' working lives with the school in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quinquennial valuations using a prospective benefit method. As stated in Note 14, the TPS is a multi-employer scheme, and the school is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. The TPS is therefore treated as a defined contribution scheme and the contributions recognised as they are paid each year.

The Standard Life and APTIS schemes are defined contribution schemes. Pension contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of each scheme. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

LIQUID RESOURCES

Liquid resources detailed in the statement of cash flows comprise short term investments which can be readily converted into cash.

GOING CONCERN

At the time of approving the financial statements, the governors have a reasonable expectation that the group and charitable company have adequate resources to continue in operational existence for the foreseeable future. Thus, the governors continue to adopt the going concern basis of accounting in preparing the financial statements.

Management has assessed the going concern assumption and despite increased economic uncertainty, confirms that it remains appropriate based on the strong cash and net asset position which enables it to sustain its business and meet its liabilities as they fall due.

The Governors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the group and charitable company have adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the group's and charitable company's ability to continue as a going concern. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

The policy of the Governors is to maintain buildings and integral fixtures and fittings in good condition through regular preventative, proactive and reactive maintenance. Rates of depreciation are set based on this policy.

Investment properties are included at fair value taking into account items such as current and expected market yields, local market conditions, length of leases and covenant strength.

Page 31

Solihull School NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

COMPARATIVE INFORMATION - STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Endowment Total
funds funds funds 2023
£ £ £ £
Income and endowments from:
Donations and legacies 40,686 260,326 301,012
Charitable activities:
School fe s 20,172,568 20,172,568
Other educational income 63,204 63,204
Other ancillary trading income 858,126 858,126
Investments 1,252,738 62,543 1,315,281
Total Income 22,387,322 322,869 22,710,191
Expenditure on:
Raising funds (218,560) (9,110) (227,670)
Charitable activities:
School operating costs (22,400,141) (16,244) (22,416,385)
Total Expenditure (22,618,701) (25,354) (22,644,055)
Net (losses)/gains on
investments:
Net (losses)/gains on investment
properties (240,000) (240,000)
Net (losses)/gains on other
investments (139,733) 29,620 (9,912) (120,025)
Total net (losses)/gains on
investments (379,733) 29,620 (9,912) (360,025)
Transfer between funds 128,963 (128,963)
Net (expenditure)/income and
net movement in funds (482,149) 198,172 (9,912) (293,889)
Reconciliation of funds:
Total funds brought forward 56,002,254 1,509,775 585,942 58,097,971
Total funds carried forward 55,520,105 1,707,947 576,030 57,804,082

Page 32

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

2 INVESTMENT INCOME Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Investment income comprises:
Income from investments listed on a Income from investments listed on a 273,951 68,994 342,945 312,448
recognised stock exchange
Income from investment properties 814,895 814,895 971,542
Bank and other interest 134,054 134,054 31,291
1,222,900 68,994 1,291,894 1,315,281
3 EXPENDITURE
Staff Staff Other Total Total
costs Depreciation costs 2024 2023
£ £ £ £ £
Raising funds:
Investment management 209,468 209,468 227,670
Charitable activities:
School operating costs
Governance costs		 15,518,967
48,249		 1,064,126 7,239,573
79,509		 23,822,666
127,758		 22,301,778
114,607
15,567,216 1,064,126 7,528,550 24,159,892 22,644,055
2024 2023
£ £
Total support costs included in expenditure are Total support costs included in expenditure are 1,943,012 1,911,846

The support costs represent the management and administrative costs of the School charged directly to the School operating costs category of the Statement of Financial Activities.

Page 33

Solihull School NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

4 STAFF COSTS 2024 2023
Number Number
The average monthly number of persons employed by the Group
during the year was:
Academic 180 177
Non-academic 88 85
268 262
Staff costs for above persons:
Wages and salaries 11,928,890 11,065,352
Social security costs 1,282,786 1,145,908
Other pension costs 2,355,540 2,020,721
15,567,216 14,231,981

Pension costs are allocated to expenditure in line with staff costs and are wholly charged to unrestricted funds.

During the year, termination payments of £11,000 (2023: £49,697) were made and are included in the expenditure shown above. Of these, £nil (2023: £49,697) were outstanding at the year end.

The Governors received no remuneration during the year (2023: £Nil). During the year, 2 Governors (2023: none) received reimbursement of travel and training expenses of £917 (2023: £Nil).

The Group has purchased trustee indemnity insurance. The cost is disclosed in note 5.

The number of employees who received emoluments in the following 2024 2023
bands were: Number Number
£60,001 - £70,000 20 7
£70,001 - £80,000 1 2
£80,001 - £90,000 2 2
£90,000 - £100,000 I
£100,001 - £110,000 1 I
£110,001 - £120,000 2 I
£130,001 - £140,000 I
£190,001 - £200,000 1

At 31 August 2024, 23 higher paid employees were members of a defined benefit pension scheme (2023: 14) whilst 4 (2023: 1) were members of a defined contribution pension scheme. Pension contributions paid in respect of these individuals amounted to £486,555 (2023: £261,187).

During the year the total compensation including employer national insurance and pension contributions payable to key management personnel of the group was £1,294,319 (2023: £1,331,139).

In accordance with the charities SORP (FRS 102) the benefit to the charity provided by general volunteers is not reflected in the Statement of Financial Activities.

Page 34

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

5 MOVEMENT IN FUNDS FOR THE YEAR 2024 2023
£ £
The movement in funds for the financial year is after charging:
Auditors' remuneration
For audit services 47,580 46,560
Other services
Depreciation of tangible fixed assets		 6,970 700
Owned assets 1,064,126 1,347,332
Operating lease rentals 132,437 134,694
Bad debt charge 110,146 37,364
Trustee indemnity insurance 1,251 1,063

6 TAX PAYABLE

The School is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the School is potentially exempt from taxation in respect of income or capital gains received within categories covered by part 11, chapter 3 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

The charitable company owns the entire issued share capital of Solihull School Enterprises Limited and taxable profits arising in that company are donated to its parent under a gift aid arrangement.

Page 35

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

Freehold Long Furniture Assets in
land and
buildings		 Leasehold and
equipment		 Computer
equipment construction		 course of
equipment construction		 Total
£ £ £ £ £
Cost or valuation
1 September 2023
Transfer		 40,469,722
310,444		 1,111,413 5,799,037 1,279,304 310,444
(310,444)		 48,969,920
Additions 1,058,169 108,540 159,401 755,275 2,081,385
Eliminations (791,297) (521,783) (1,313,080)
3 1 August 2024 41,838,335 1,111,413 5,116,280 916,922 755,275 49,738,225
Depreciation
1 September 2023 3,016,042 501,429 4,094,258 962,721 8,574,450
Charged in the year 565,493 22,228 367,275 109,130 1,064,126
Eliminations (791,297) (521,783) (1,313,080)
31 August 2024 3,581,535 523,657 3,670,236 550,068 8,325,496
Net book value
3 1 August 2024 38,256,800 587,756 1,446,044 366,854 755,275 41,412,729
———eeS~~=_————~~—Ce™™eEkEDEDSSSISS~~SE___~~
“Ll
SS —_llCllllleeeeee
TUL
e~~C~~
3 1 August 2023 37,453,680 609,984 1,704,779 316,583 310,444 40,395,470

The cost/value of freehold land included in the above, which is not depreciated, is £5,454,521 (2023: £5,454,521)

Freehold properties were revalued in January 1958 and are shown at that valuation together with additions at cost since that date and the gift of freehold property from Saint Martin's (Solihull) Ltd in January 2020. All tangible fixed assets are used for direct charitable purposes.

Page 36

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

8 INVESTMENTS Group Charity
2024 2023 2024 2023
£ £ £ £
Investment properties at fair value
Listed and other investments at fair		 10,450,000 10,851,000 10,450,000 10,851,000
value 10,536,386 9,230,837 10,536,386 9,230,837
Investment in subsidiaries and joint
ventures at cost 500 500 501 501
20,986,886 20,082,337 20,986,887 20,082,338
Analysed as follows: 2024 2023
£ £
Investment properties at fair value:
Brought forward		 10,851,000 11,091,000
Disposal proceeds (530,000) (530,000)
Net gain/(loss) on investment properties Net gain/(loss) on investment properties 129,000 (240,000)
At 31 August 10,450,000 10,851,000

Investment properties were revalued at fair value by the Governors on both 31 August 2023 and 31 August 2024. The annual valuation of investment properties is reviewed in detail by the Property Sub Committee in accordance with guidelines set out by the Royal Institute of Chartered Surveyors. Individual properties are examined in detail and the proposed valuation reviewed and discussed with professional advisors. The Governors recognise that conditions in the property investment market remain challenging with the retail and hospitality sectors remaining under particular pressure.The diversity of the portfolio provides some protection against this pressure with valuations taking into account items such as current and expected market yields, local market conditions, length of leases and individual covenant strengths.

The cost of investment properties at 31 August 2024 was £5,094,192 (2023: £6,842,256).

2024 2023
£ £
Listed and other investments at fair value:
Brought forward		 9,230,837 9,226,097
Additions at cost 858,089 2,248,648
Disposal proceeds (348,755) (2,032,027)
Net gain/(loss) on investments 830,679 (120,025)
Reduction in cash awaiting reinvestment (34,464) (91,856)
At 31 August 10,536,386 9,230,837

The cost of listed and other investments at 31 August 2024 was £8,906,355 (2023: £8,370,645).

Page 37

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

Solihull School

8 INVESTMENTS ( continued)
2024 2024 2023
£ £ £
Listed and other investments at fair value comprise:
Listed investments 10,499,559 10,499,559
9,159,546
Cash awaiting reinvestment 36,827 36,827
71,291
10,536,386 10,536,386
9,230,837
9 DEBTORS Group Charity
2024 2023 2024 2023
£ £ £ £
Trade debtors 79,494 48,448 12,871 3,000
Other debtors 2,067 10,011 2,067 10,011
Amount due from Group undertakings 240 39,185
Prepayments and accrued income 3,134,199 546,680 3,134,199 546,680
3,215,760 605,139 3,149,377 598,876
—=<_S
ClllSS.S2.2...—_CU		 lS LE
10 CREDITORS: Amounts falling due within one Group Charity
year
2024 2024
2023		 2023 2024 2024
2023
£ £
£		 £ £ £
£
Trade creditors 537,484 537,484
710,411		 710,411 537,484 537,484
710,411
Other creditors 529,854 529,854
368,141		 368,141 529,854 529,854
368,141
Refundable parent deposits 594,396 594,396
582,396		 582,396 594,396 594,396
582,396
Other tax and social security creditors
Deferred income		 305,263
5,079,178		 305,263
290,759
2,840,608		 290,759
298,813
2,840,608
5,079,178		 298,813
287,980
5,079,178
2,840,608
Accruals 672,186 672,186
550,582		 550,582 665,486 665,486
544,582
Pension scheme cessation creditor (LGPS) 262,356 262,356
256,260		 256,260 262,356 262,356
256,260
Pension scheme cessation creditor (TPT) 12,318 12,318
49,455		 49,455 12,318 12,318
49,455
7,993,035 7,993,035
5,648,612		 5,648,612
7,979,885		 7,979,885
5,639,833

The School has provided security in respect of the LGPS pension scheme cessation creditor included above from the investment property portfolio described in Note 8.

Page 38

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

11 CREDITORS: Amounts falling due after more Group Charity
than one year
2024 2023 2024 2024
2023
£ £ £ £
£
Deferred income 6,272,498 6,272,498 6,272,498
Pension scheme cessation creditor (LGPS) 141,925 404,281 141,925 141,925
404,281
Pension scheme cessation creditor (TPT) 37,072 12,123 37,072 37,072
12,123
6,451,495 416,404 6,451,495 6,451,495
416,404

The School has provided security in respect of the LGPS pension scheme cessation creditor included above from the investment property portfolio described in Note 8. Full repayment is due to be completed within 2 years.

Deferred income included in notes IO and 11 represents f s/charges received in advance.

2024 2023
£ £
At 1 September 2,840,608 2,235,489
Funds received in year 11,351,676 2,822,138
Amounts released (2,840,608) (2,217,019)
At 31 August 11,351,676 2,840,608

Page 39

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

12 MOVEMENT ON FUNDS (group)

Funds Transfer Funds
balance at Net gains/ between balance at
31 August (losses) on Funds 31 August
2023 Income Expenditure investments £ 2024
£ £ £ £ £
Unrestricted Funds 55,520,105 24,255,493 (24,139,441) 774,136 261,052 56,671,345
Restricted Funds:
Silhillian Fund 1,515,882 1,828,952 (6,758) 124,868 (97,875) 3,365,069
EG Wilcox Fund 103,841 (103,841)
Synergy Fund
Other		 88~~2~~224 111,991
30,576		 (13,693) (28,961)
(3023752		 83,030
742732
Total Restricted 1,707,947 1,971,519 (20,451) 124,868 (261,052) 3,522,831
Endowment Fund 576,030 60,675 636,705
Total 57,804,082
———_—__—		 26,227,012
———_.
—— rr		 (24,159,892)
——
____.
—————=		 959,679
——————l		 60,830,881
—«=«==——-_.
——— vn
=————

12 MOVEMENT ON FUNDS (charity)

Funds Transfer Funds
balance at Net gains/ between balance at
31 August (losses) on Funds 31 August
2023 Income Expenditure investments £ 2024
£ £ £ £ £
Unrestricted Funds 55,381,873 24,164,917 (24,079,561) 774,136 261,052 56,502,417
Restricted Funds:
Silhillian Fund 1,515,882 1,828,952 (6,758) 124,868 (97,875) 3,365,069
EG Wilcox Fund 103,841 (103,841)
Synergy Fund
Other
Total Restricted		 882224
1,707,947		 111,991
30~~2~~576
1,971,519		 (13,693)
(20,451)		 124,868 (28,961)
~~(~~30~~2~~37~~52~~
(261,052)		 83,030
74,732
3,522,831
Endowment Fund 576,030 60,675 636,705
Total 57,665,850
26,136,436
(24,100,012)
~~a~~		 959,679
=~~—_—:~~		 —= 60~~2~~661~~2~~953
~~To:~~

Restricted Funds notes

The Silhillian Fund provides funds for bursaries.

The EG Wilcox fund was historically utilised to fund the school's first artificial turf pitch. The Trustees have confirmed that the restriction on this remaining balance at 31 August 2023 has been extinguished during the year and as a result, the balance has been transferred to the school's unrestricted funds.

Page 40

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

The Synergy Fund relates to a fundraising campaign for improvements to school facilities.

Other Restricted Funds represent donations where the donor has specified that they should be used for a specific purpose.

Endowment (Restricted) Funds notes

Major endowments within the portfolio include:

Unrestricted Restricted Endowment
funds funds funds Total
£ £ £ £
Funds balances at 31 August 2024
were:
Tangible fixed assets 41,412,729 41,412,729
Investments 18,903,076 1,452,853 630,957 20,986,886
Net current assets
Liabilities: amounts falling due
after more than one year		 2,807,035
(6,451,495)		 2,069,978 5,748 4,882,761
(6,451,495)
56,671,345 3,522,831 636,705 60,830,881
Unrestricted Restricted Endowment
funds funds funds Total
£ £ £ £
Funds balances at 31 August 2023
were:
Tangible fixed assets 40,395,470 40,395,470
Investments 18,174,425 1,334,743 573,169 20,082,337
Net current (liabilities)/assets
Liabilities: amounts falling due
after more than one year		 (2,633,386)
(416,404)		 373,204 2,861 (2,257,321)
(416,404)
55,520,105 1,707,947 576,030 57,804,082

Page 41

Solihull School

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

13 ANALYSIS OF NET ASSETS BETWEEN FUNDS (charity)

Unrestricted Restricted Endowment
funds funds funds Total
£ £ £ £
Funds balances at 31 August 2024
were:
Tangible fixed assets 41,412,729 41,412,729
Investments 18,903,077 1,452,853 630,957 20,986,887
Net current assets
Liabilities: amounts falling due after
more than one year		 2,638,106
(6,451,495)		 2,069,978 5,748
-		 4,713,832
(6,451,495)
56,502,417 3,522,831 636,705 60,661,953
Unrestricted Restricted Endowment
funds funds funds Total
£ £ £ £
Funds balances at 31 August 2023
were:
Tangible fixed assets 40,395,470 40,395,470
Investments 18,174,426 1,334,743 573,169 20,082,338
Net current (liabilities)/assets
Liabilities: amounts falling due after
more than one year		 (2,771,619)
(416,404)		 373,204 2,861 (2,395,554)
(416,404)
55,381,873 1,707,947 576,030 57,665,850

Page 42

Solihull School NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

14 TEACHERS' PENSION SCHEME

Solihull School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff.

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.

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 3 I 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 have valued the "greater value" benefits for groups of relevant members.

The valuation confirmed that the employer contribution rate for the TPS rose from 23.6% to 28.6% from I April 2024. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of28.68%.

from I April 2024. Employers are also required to pay a scheme administration levy of 0.08%
giving a total employer contribution rate of28.68%.		 from I April 2024. Employers are also required to pay a scheme administration levy of 0.08% from I April 2024. Employers are also required to pay a scheme administration levy of 0.08%
2024 2023
£ £
Teacher's Pension Scheme contribution cost 2,020,226 1,692,720

There were £246,277 accrued contributions, relating to the final month of the year, included within other creditors as at 31 August 2024 (2023: £199,627).

15 STANDARD LIFE/AVIVA PENSION TRUST (APTIS)

The School operates two defined contribution schemes. One with Standard Life for non-teaching staff; the other, with A viva, is for teaching staff.

The School operates two defined contribution schemes. One with Standard Life for non-teaching
staff; the other, with A viva, is for teaching staff.		 The School operates two defined contribution schemes. One with Standard Life for non-teaching The School operates two defined contribution schemes. One with Standard Life for non-teaching
2024 2023
£ £
Standard Life / APTIS contribution cost 335,314 321,436

There were outstanding contributions of £56,513 relating to the final month of the year included within other creditors as at 31 August 2024 (2023: £42,510). £47,534 was due to Standard Life (2023: £42,510) and £8,979 to A viva (APTIS) (2023: £Nil).

Page 43

Solihull School NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

16 COMMITMENTS

Capital commitments at the end of the financial year for which no provision has been made, are:

2024 2023
£ £
Contracted 527,404 909,973
At 31 August the School had total future commitments under non-cancellable operating leases as At 31 August the School had total future commitments under non-cancellable operating leases as
follows:
2024 2023
£ £
Amounts payable within 1 year 119,788 97,094
Amounts payable within 2 - 5 years 308,566 219,820
428,354 316,914

17 SUBSIDIARY COMPANIES & JOINT VENTURE

The Charity owns the entire issued share capital of Solihull School Enterprises Limited (company number 11150476). The principal activity of Solihull School Enterprises Limited is that of providing facilities for external use. The results of Solihull School Enterprises Limited are consolidated into these accounts. For the year ended 31 August 2024, Solihull School Enterprises Limited recorded turnover of £228,809 (2023: £186,442), cost of sales and expenses of £59,880 (2023: £48,210) and corporation tax of £Nil (2023: £Nil) giving rise to a retained profit of £168,929 (2023: £138,233). The taxable profits arising in Solihull School Enterprises Limited are donated to the charitable company under a gift aid arrangement.

Net assets at 31 August 2024 were £168,929 (2023: £138,233).

During the year, the Charity also owned a 50% shareholding in a joint venture company, Day Care at Saint Martins Limited (company number 07558046). The Charity purchased the remaining 50% shareholding on 2 September 2024 for £624,505. The company has been renamed Solihull Day Care Ltd and any future taxable profits arising in the company will be donated to the charitable company under a gift aid arrangement.

During the year, the Charity received dividend income of £153,583 (2023: £136,256) and rental/other recharge income of £83,843 (2023: £79,476). For the year ended 31 August 2024, the joint venture recorded turnover of £1,482,235 (2023: £1,357,533), other income of £308,017 (2023: £230,943), cost of sales and expenses of £1,319,674 (2023: £1,278,443) and corporation tax of £117,640 (2023: £74,339) giving rise to a profit for the year of £352,938 (2023: £235,694) of which £176,469 (2023: £117,847) is attributable to the Group.

Net assets at 31 August 2024 were £194,979 (2023: £149,207), £97,490 (2023: £74,604) of which were attributable to the Group.

18 RELATED PARTY TRANSACTIONS

During the year, the Charity charged Solihull School Enterprises Limited £48,191 (2023: £39,185) in respect of staff and facilities costs. At the year end, the Charity was owed £240 (2023: £39,185) by Solihull School Enterprises Limited.

Details of Governors' expenses are disclosed in note 4 to the accounts.

Page 44