2022-08-31-accounts - James Allen's Girls' School

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11741 A Report and Accounts YEAR ENDED 31 AUGUST 2022 Jags 144 East Dulwich Grove, London SE22 8TE lame5 Allen'5Gir15' 5chod Is a twpony Imited by8uarantee re815tered In En8i¥d number 6618970. Re815tered charitynumber1124853.

JAMES ALLEN'S GIRLS, SCHOOL REPORT & ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 CONTENTS Page Governors, Officer5, Addre55es and Adviser5 Annual Report of the Governors Ilncorporating Strate8ic Report) 4-26 Independent Auditor'5 Report 27-29 Con501idated Statement of Financial Activities 30 Con501idated Summary Income ar)d Expenditure 31 Con501idated Balance Sheet 32 Parent Only Balance Sheet 33 Con501idated Cash flow Statement Notes to the Account5 35-53

----- Start of picture text -----
Bursary Contribution to Fees 2021/22
100%
95 - 99.9%
90 - 94.9%
85 - 89.9%
80 - 84.9%
No. of Pupils
75 - 79.9%
50 - 74.9%
25 - 49.9%
1 - 24.9%
0 10 20 30 40 50 60
----- End of picture text -----

David miller

Date: 20 December 2022

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2022

Unrestricted Funds £ - 1,627,013 19,734,260 1,401,786 1,963,504 221,511	Designated Funds £ 25,423 - - - - -	Restricted £ 6,255 - - - - 96,935	Endowment £ - - - - - -	2022 Total £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446	2021 Total £ 505,858 1,459,701 18,357,840 1,045,484 1,060,665 358,236

24,948,074	25,423	103,190	-	25,076,687	22,787,784
435,787 1,735,915 22,058,528	- - -	- - 31,678	- - -	435,787 1,735,915 22,090,206	477,129 1,440,628 20,563,408
24,230,230	-	31,678	-	24,261,908	22,481,165
-	-	-	(1,123,963)	(1,123,963)	2,083,385
717,844 1,524	25,423 (844)	71,512 (680)	(1,123,963) -	(309,184) -	2,390,004 -
719,368	24,579	70,832	(1,123,963)	(309,184)	2,390,004
7,776,328 719,368	1,135,411 24,579	936,055 70,832	31,850,596 (1,123,963)	41,698,390 (309,184)	39,308,386 2,390,004
8,495,696	1,159,990	1,006,887	30,726,633	41,389,206	41,698,390

All amounts relate to continuing operations. All gains and losses recognised in the year are included above. The Notes on Pages 35 - 53 form part of the financial statements.

Please see Notes 22 and 23 for Comparison

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED SUMMARY OF INCOME AND EXPENDITURE

YEAR ENDED 31 AUGUST 2022

Income and Endowments from: Voluntary Sources Donations and Legacies The Dulwich Estate Charitable Activities Net School Fees Other Ancillary Income Other Trading Activities Trading Subsidiary Investments Total Income Expenditure on: Raising Funds Raising Funds - Other Charitable Activities Total Expenditure Net Income Before Investment Gains Net Income		2022 Unrestricted and Restricted Funds £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446 25,076,687 435,787 1,735,915 22,090,206 24,261,908 814,779 814,779	2022 Unrestricted and Restricted Funds £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446 25,076,687 435,787 1,735,915 22,090,206 24,261,908 814,779 814,779		2021 Unrestricted and Restricted Funds £ 505,858 1,459,701 18,357,840 1,045,484 1,060,665 358,236	2021 Unrestricted and Restricted Funds £ 505,858 1,459,701 18,357,840 1,045,484 1,060,665 358,236	2021 Unrestricted and Restricted Funds £ 505,858 1,459,701 18,357,840 1,045,484 1,060,665 358,236


							22,787,784
							477,129 1,440,628 20,563,408
							22,481,165
							306,619
							306,619

The above Consolidated Summary Income and Expenditure Account represents the total unrestricted and restricted income and expenditure as shown in the Consolidated Statement of Financial Activities on page 30 and its presentation is required under the Companies Act 2006.

The Notes on Pages 35 - 53 form part of the financial statements.

JAMES ALLEN'S GIRLS' SCHOOL

COMPANY NUMBER: 6618970

CONSOLIDATED BALANCE SHEET

Note FIXED ASSETS Buildings 7 Vehicles and Equipment 8 INVESTMENTS 9 CURRENT ASSETS Stock Debtors and Prepayments 10 Cash at Bank and In Hand CURRENT LIABILITIES Creditors and Accruals 11 Loans falling due within one year 12 NET CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES LONG TERM LIABILITIES Fee Deposits Loans 12 Advance Fees 13 Pension Deficit 19b TOTAL NET ASSETS ENDOWMENT FUND 17a RESTRICTED FUNDS 17b UNRESTRICTED FUNDS 17c	£ £ 31,163,386 1,299,390 32,462,777 13,744,400 46,207,177 5,393 733,150 2,945,197 3,683,740 3,193,488 834,906 4,028,394 (344,654) 45,862,523 1,223,750 1,877,682 1,367,275 4,610 (4,473,317) 41,389,206 30,726,633 1,006,887 9,655,686 41,389,206 31 August 2022	£ £ 31,602,078 1,083,582 32,685,660 14,932,706 47,618,366 1,527 1,067,601 1,726,212 2,795,340 2,912,255 902,314 3,814,569 (1,019,229) 46,599,137 1,041,200 2,637,318 1,025,182 197,047 (4,900,747) 41,698,390 31,850,596 936,055 8,911,739 41,698,390 31 August 2021	£ £ 31,602,078 1,083,582 32,685,660 14,932,706 47,618,366 1,527 1,067,601 1,726,212 2,795,340 2,912,255 902,314 3,814,569 (1,019,229) 46,599,137 1,041,200 2,637,318 1,025,182 197,047 (4,900,747) 41,698,390 31,850,596 936,055 8,911,739 41,698,390 31 August 2021
			47,618,366 (1,019,229)
			46,599,137 (4,900,747)
			41,698,390
			31,850,596 936,055 8,911,739
			41,698,390

As permitted by section 408 of the companies Act 2006, no separate Statement of Financial Activities have been presented for the Charity. The net movement of the Charity for the year ended 31 August 2022 is a deficit of £0.59m (2021 - Surplus of £2.63m)

Accounts approved and authorised for issue by the Governors and signed on their behalf by:-

David miller

Mr David Miller Mr Robert Cunningham Governor Governor Date: 6 December 2022 Date: 6 December 2022

JAMES ALLEN'S GIRLS' SCHOOL COMPANY NUMBER: 6618970

PARENT ONLY BALANCE SHEET

Note FIXED ASSETS Buildings 7 Vehicles and Equipment 8 INVESTMENTS 9 CURRENT ASSETS Debtors and Prepayments 10 Cash at Bank and In Hand CURRENT LIABILITIES Creditors and Accruals 11 Loans falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES LONG TERM LIABILITIES Fee Deposits Loans 12 Advance Fees 13 Pension Deficit 19b TOTAL NET ASSETS ENDOWMENT FUND 17a RESTRICTED FUNDS 17b UNRESTRICTED FUNDS 17c	£ £ 30,696,820 1,083,064 31,779,884 13,744,402 45,524,286 1,511,413 2,584,542 4,095,955 2,904,527 834,906 3,739,433 356,522 45,880,808 1,223,750 1,877,682 1,367,275 4,610 (4,473,317) 41,407,491 30,726,633 1,006,887 9,673,971 41,407,491 31 August 2022	£ £ 31,087,682 996,881 32,084,563 14,932,708 47,017,271 1,904,999 1,584,083 3,489,082 2,702,234 902,314 3,604,548 (115,466) 46,901,805 1,041,200 2,637,318 1,025,182 197,047 (4,900,747) 42,001,058 31,850,596 936,055 9,214,407 42,001,058 31 August 2021	£ £ 31,087,682 996,881 32,084,563 14,932,708 47,017,271 1,904,999 1,584,083 3,489,082 2,702,234 902,314 3,604,548 (115,466) 46,901,805 1,041,200 2,637,318 1,025,182 197,047 (4,900,747) 42,001,058 31,850,596 936,055 9,214,407 42,001,058 31 August 2021
			47,017,271 (115,466)
			46,901,805 (4,900,747)
			42,001,058
			31,850,596 936,055 9,214,407
			42,001,058

Accounts approved and authorised for issue by the Governors and signed on their behalf by:-

David miller

Mr David Miller Mr Robert Cunningham Governor Governor Date: 6 December 2022 Date: 6 December 2022

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED CASHFLOW STATEMENT

YEAR ENDED 31 AUGUST 2022

Note £ £ Net Cash Flow from Operating Activities Net cash provided by operating activities 20 2,842,502 Cashflows from Investing Activities Investment Income Received 318,446 Interest Paid (77,035) Buildings (Improvements and New Build) (531,247) Purchase of other Tangible Fixed Assets (611,059) Investment Drawdowns 9 - (900,895) Cashflows from Financing Activities Advanced Fees - New Contracts 1,073,236 Advanced Fees - Amounts Utilised and Repaid (752,917) Loan Repaid (827,044) Pension Deficit Repaid (215,897) (722,622) Change in cash in the year 1,218,985 Analysis of Changes in Net Debt Cash and Cash Equivalents Opening cash 1,726,212 Cash Flows 1,218,985 Closing cash 2,945,197 Borrowings Opening total borrowings 3,539,632 Cash Flows (827,044) Total borrowings 2,712,588 Debt due within one year 834,906 Debt due after one year 1,877,682 Total borrowings 2,712,588 31 August 2022	£ £ 641,184 358,236 (78,436) (1,851,916) (596,188) 2,000,000 (168,304) 874,457 (571,593) (832,758) (76,427) (606,321) (133,441) 1,859,653 (133,441) 1,726,212 4,372,390 (832,758) 3,539,632 902,314 2,637,318 3,539,632 31 August 2021	£ £ 641,184 358,236 (78,436) (1,851,916) (596,188) 2,000,000 (168,304) 874,457 (571,593) (832,758) (76,427) (606,321) (133,441) 1,859,653 (133,441) 1,726,212 4,372,390 (832,758) 3,539,632 902,314 2,637,318 3,539,632 31 August 2021
		(133,441)
		1,859,653 (133,441)
		1,726,212
		4,372,390 (832,758)
		3,539,632
		902,314 2,637,318
		3,539,632

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022

1. Accounting Policies

The school is a public benefit entity registered as a charity in England and Wales and a company limited by guarantee. It was incorporated on 13 June 2008 (Company number 6618970) and is registered as a charity (Charity number 1124853).

The financial statements are presented in sterling.

Basis of Accounting: The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the 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) - Second edition.

Basis of consolidation: The accounts present the consolidated statement of financial activities (SOFA), the consolidated cash flow statement and the consolidated and Charity balance sheets comprising the consolidation of the School with its wholly owned subsidiary: JAGS Community Enterprises Limited. As permitted by Section 408 of the Companies Act 2006, no separate SOFA has been presented for the School alone.

In the application of the accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects current and future periods. In the view of the trustees, no assumption concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

The Governors consider the following items to be areas subject to estimation and judgement:

Depreciation: the useful economic lives of tangible fixed assets are based on judgement and experience. When management identifies that actual useful economic lives differ materially from the estimates used to calculate depreciation, that charge is adjusted retrospectively. Although tangible fixed assets are significant, variances between actual and estimated useful economic lives will not have a material impact on the operating results. Historically, no changes have been required.

Pensions: The principal assumptions used to calculate the liabilities for the historical pension deficit repayment plan are those as set out in note 19.

Fees Receivable: School fees are credited to income in the period for which they are receivable. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the school from restricted and designated funds but includes contributions received from endowment and restricted funds for scholarships, bursaries and other monies received from third parties. Fees that are received in advance of the academic year to which they relate are treated as creditors and released in the year to which they relate.

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022

(CONT'D)

1. Accounting Policies (continued)

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

Donations received for the general purposes of the School are credited to Unrestricted Funds. Donations subject to specific wishes of the donors are credited to the relevant Restricted Funds, where the amount is held as expendable capital, or to Endowment Funds.

For legacies, entitlement is the earlier of the School being notified of an impending distribution or the legacy being received.

Income: The distribution from the Dulwich Estate and similar income are shown in the accounts on a received basis. Grant income relates to the Coronavirus Job Retention Grant (CJRG) and is recognised under the accruals basis in line with staff costs. Donations and legacies are accounted for on a receivable basis where the income is probable. Donations for purposes restricted by the wishes of the donor are taken to where these wishes are legally binding on the Governors. Donations required to be retained as capital in accordance with the wishes are accounted for as - permanent or expendable - according to the nature of the restriction. All donations in respect of the James Bursary Fund unless specifically allocated otherwise by the donor will be treated as endowments and will be invested as soon as practical. The income arising from the investment will be applied to Bursaries. All other incoming resources are included in income on an accruals basis that is accounted for in the period in which it is attributable.

Expenditure: Is accounted for on an accruals basis where there is a legal and constructive obligation to make a payment to a third party and the amount of the obligation can be measured reliably. Expenditure is allocated to the appropriate headings relevant to the Support costs mainly represent office administration. Irrecoverable VAT is charged to the Statement of Financial Activities as incurred. Governance costs comprise the costs of running the School, including strategic planning for its future development charitable activities on a direct basis, external audit, legal advice and all the costs of complying with constitutional and statutory requirements. Charitable expenditure represents the costs of running the School including salaries, catering, premises and welfare costs. Costs of raising funds include non-ancillary trading, financing, investment management and fundraising and development costs. Raising funds - other comprise trading costs of the subsidiary, JAGS Community Enterprises Limited, fundraising costs and finance costs. Costs of activities in furtherance of the charity objectives comprise expenditure directly related to the provision of education. The basis for allocation of support costs and allocated staff costs is a combination of management estimates, headcounts and non-salary expenditure, as set out in note 5. Certain of these bursaries are met from the restricted funds and the amount of the grant or bursary is charged to expenditure on the restricted fund.

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

1. Accounting Policies (continued)

School Buildings: The reversionary freehold of the site is not valued for accounting purposes on the basis that the interest was acquired at £Nil cost in 1886 and at varying times thereafter and the cost of obtaining such a valuation would outweigh the benefit to readers of the Accounts and if no longer required for School purposes, the freehold reverts to the Dulwich Estate.

Capitalisation of Fixed Assets and Depreciation: Any costs relating to a specific capital project are capitalised irrespective of the amount. Depreciation is provided on fixed assets to write off their cost less estimated residual value over their estimated useful economic life by equal annual instalments as follows: - Short Leasehold Property - Over the life of the lease, Buildings Improvements - 10 to 50 years, Freehold Property - 50 years, Sports and Grounds Complex - 10 to 50 years, Computer Equipment - 5 years, Motor Vehicles - 3 to 5 years, Other Equipment - 5 to 10 years. Depreciation in respect of buildings under construction will not commence until they are completed and come into use by the School.

Investments: Are a form of basic financial instrument and are initially shown in the financial statements at bid price. Movements in the values of investments are shown as unrealised gains and losses in the Statement of Financial Activities.

Gains and losses on the realisation of investments are shown as realised gains and losses in the Statement of Financial Activities. Realised gains and losses are calculated as the difference between sale proceeds and opening carrying value or the purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value of investments at the year-end and their carrying value. Realised and unrealised investment gains and losses are allocated to the appropriate Fund according to the of the underlying assets. Investment subsidiaries are valued at cost less provision for impairment.

Financial instruments: Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, trade and fee debtors, staff loans, other debtors and accrued income and amounts owed by group undertakings. A specific provision is made for debts for which recoverability is in doubt. Cash and cash equivalents are defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise deposits, fees in advance, trade creditors, other creditors, loans to third parties and amounts owed to group undertakings.

Funds: The School has three types of funds:

Unrestricted - where the fund is not restricted as to use other than in furthering the objects of the School. These include Designated Funds, where the funds are unrestricted but the Governors have designated them for a specific purpose.

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

1. Accounting Policies (continued)

Stock: Is carried at the lower of cost and net realisable value.

Leases: Expenditure on operating lease rentals is charged to the Statement of Financial Activities as and when it is incurred. Assets purchased under finance leases are capitalised and depreciated over their useful lives. Interest charges incurred on finance leases are included within finance charges.

Pension Costs: Retirement benefits are provided to employees of the school through the following three schemes:

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

Support Staff Pension scheme - Occupational defined benefit scheme. The defined benefit pension scheme current service costs are charged to the Statement of Financial Activities within staff costs. The defined benefit scheme liability is included in the balance sheet as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in SOFA. When the actuaries do a revaluation, any change in value is reflected in the present value of the contributions payable.

Support Staff Pension scheme - Defined contribution scheme - pensions costs are charged in the period in which the salaries to which they relate are payable.

Employee termination benefits: Termination benefits are accounted for on an accruals basis and in accordance with FRS 102.

Fees Composition Scheme: Fees Composition Scheme Financing costs include amounts accrued in accordance with the terms of the Advance Fees contract representing the present value of discounts given for payment in advance.

Going Concern: The Governors have considered the risks to which the school is exposed to. Having also reviewed the funding facilities available to the School together with the expected ongoing demand for places and the future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue in activities for the foreseeable future and consider that there were no material

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

			2022	2021
2	School Fees		£	£
	Net Tuition Fees		21,987,781	20,362,771
	Bursary Fee Reductions		(2,621,876)	(2,203,550)
	James Allen's Saturday School for the Performing Arts		368,355	198,619
			19,734,260	18,357,840
	Bursary and other awards were paid to 150	students (2021 - 146)
3	Other Ancillary Income		£	£
	Registration Fees		73,600	82,654
	Salaries Furlough Rebate		-	239,408
	Billing Interest and Other		33,655	565
	After School Club Income		43,572	17,805
	Insurance Commissions		42,295	22,228
	School Trips income - gross		347,004	162,231
	Catering Income		861,660	520,593
			1,401,786	1,045,484
4	Expenditure
	Other expenditure includes:-		£	£
	Auditor's remuneration	- Audit (Excluding VAT)	23,100	21,600
		- Other (Excluding VAT)	18,267	10,154
	Operating Leases		119,971	120,684
	Depreciation and Amortisation		1,329,934	1,350,498
	Staff costs:-		£	£
	Wages and salaries		12,367,998	11,753,906
	Social security costs		1,271,162	1,195,270
	Pension contributions - Teaching Staff		1,831,529	1,800,120
	Pension contributions - Support Staff		320,177	318,624
			15,790,866	15,067,920

The average number of employees in the year was 355 (2021 - 369) of whom 202 (2021 - 209) were teaching staff and 53 (2021 - 59) were casual JCE Sports Club staff. None of the Governors nor persons connected with them received any remuneration or other benefits from the School or any connected organisation. There were no trustees reimbursements or expenses in either year. Trustees' indemnity insurance is included within the Public Liability Premium at a total cost of £608 (2021 - £610). During the year termination payments made amounted to £8,109 (2021 - £24,880).

The number of employees whose emoluments on an annual basis, excluding pensions, exceeded

£60,000 were:-	2022	2021
£60,001 - £70,000	18	23
£70,001 - £80,000	18	13
£80,001 - £90,000	2	2
£90,001 - £100,000	-	1
£100,001 - £110,000	1	-
£110,001 - £120,000	1	1
£120,001 - £130,000	1	1
£200,001 - £210,000	-	1
£210,001 - £220,000	1	-

In addition £711,434 (2021 - £703,620) was paid in pensions payments in respect of the 42 (2021 - 42) employees above.

Aggregate employee-benefits of Key management Personnel, including Employers' National Insurance	2022 £1,137,920	2021 £935,382

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

5 Analysis of Expenditure Staff Costs £ Fund Raising and Publicity 240,924 Charitable Expenditure Teaching 14,225,620 Welfare 104,550 Premises 261,375 Awards 104,550 Total 14,696,095 Other Trading Subsidiary 843,392 Finance Costs 10,455 853,847 Total Expenditure 15,790,866 Analysis of Expenditure (2020-21 Comparative) Staff Costs £ Fund Raising and Publicity 222,777 Charitable Expenditure Teaching 13,635,826 Welfare 94,007 Premises 235,020 Awards 94,007 Total 14,058,860 Other Trading Subsidiary 776,883 Finance Costs 9,401 786,284 Total Expenditure 15,067,921		Direct Costs £ 188,807 1,315,887 1,449,738 2,976,094 387,756 6,129,475 560,036 227,535 787,571 7,105,853 Direct Costs £ 248,350 1,049,655 1,146,805 2,665,534 414,271 5,276,265 333,207 204,926 538,133 6,062,748		Depreciation £ 6,056 300,768 16,149 947,719 - 1,264,636 94,497 - 94,497 1,365,189 Depreciation £ 6,002 310,091 6,002 912,190 - 1,228,283 116,211 - 116,211 1,350,496	2022 Total £ 435,787 15,842,275 1,570,437 4,185,188 492,306 22,090,206 1,497,925 237,990 1,735,915 24,261,908 2021 Total £ 477,129 14,995,572 1,246,814 3,812,744 508,278 20,563,408 1,226,301 214,327 1,440,628 22,481,165	2021 Total £ 477,129
						14,995,572 1,246,814 3,812,744 508,278
						20,563,408
						1,226,301 214,327
						1,440,628
						22,481,165

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

6 Net Income From Trading Activity of the Subsidiary

The Charity has a wholly owned trading subsidiary, JAGS Community Enterprises Limited, which is a company incorporated in England (company Number 3636087) with an issued share capital of two ordinary shares of £1 each fully paid. The principal activity of the company during the period was the management of a sports club. It has entered into a deed of covenant to pay the School the whole of its profits for each accounting period as computed for taxation purposes.

The trading results of the Subsidiary for the year ended 31 August 2022 are summarised below. At 31 August 2022, the Subsidiary owed £816,691 to the School (2021 - £852,088).

Profit and Loss Account of Subsidiary Turnover Cost of sales Gross profit Salaries furlough rebate Administrative expenses Operating profit before licence fee Licence fee to the School Operating profit before taxation Gains on sale of assets Taxation Operating profit after taxation Amount covenanted to the School Reserves brought forward Reserves carried forward Summary Balance Sheet of Subsidiary Fixed assets Current assets Current liabilities Net current liabilities Total assets less current liabilities Reserves Share capital Reserves	2022 £ 1,953,754 (927,001) 1,026,753 - (570,924) 455,829 (181,196) 274,633 9,750 - 284,383 - (302,669) (18,286) £ £ 682,890 404,476 (1,105,650) (701,174) (18,284) 2 (18,286) (18,284) 31 August 2022	2021 £ 920,320 (702,670) 217,650 140,345 (518,490) (160,495) (71,354) (231,849) - (5,141) (236,990) - (65,679) (302,669) £ £ 601,097 158,344 (1,062,108) (903,764) (302,667) 2 (302,669) (302,667) 31 August 2021	2021 £ 920,320 (702,670)
			217,650 140,345 (518,490)
			(160,495) (71,354)
			(231,849) - (5,141)
			(236,990)
			- (65,679)
			(302,669)
			(302,667)
			2 (302,669)
			(302,667)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

7 Fixed Assets - Buildings Consolidated Cost Balance at 1 September 2021 Additions Balance at 31 August 2022 Depreciation Balance at 1 September 2021 Charge for year Balance at 31 August 2022 Net Book Value at 31 August 2022 Net Book Value at 31 August 2021	Buildings Improvements £ 32,538,482 415,297 32,953,779 9,973,826 701,195 10,675,021 22,278,758 22,564,656		Sports and Grounds Complex £ 7,660,117 - 7,660,117 2,899,506 153,202 3,052,708 4,607,409 4,760,611		Freehold Property £ 5,777,095 - 5,777,095 1,500,284 115,542 1,615,826 4,161,269 4,276,811	Construction in Progress £ - 115,950 115,950 - - - 115,950 -	Total £ 45,975,694 531,247
							46,506,941
							14,373,616 969,939
							15,343,555
							31,163,386
							31,602,078

At 31 August 2022 there were outstanding contractual commitments for further capital expenditure of £Nil (2021 - £Nil).

Fixed Assets - Buildings School Cost Balance at 1 September 2021 Additions Balance at 31 August 2022 Depreciation Balance at 1 September 2021 Charge for Year Balance at 31 August 2022 Net Book Value at 31 August 2022 Net Book Value at 31 August 2021	Buildings Improvements £ 31,347,832 398,517 31,746,349 9,297,572 636,585 9,934,157 21,812,192 22,050,260		Sports and Grounds Complex £ 7,660,117 - 7,660,117 2,899,506 153,202 3,052,708 4,607,409 4,760,611		Freehold Property £ 5,777,095 - 5,777,095 1,500,284 115,542 1,615,826 4,161,269 4,276,811	Construction in Progress £ - 115,950 115,950 - - - 115,950 -	Total £ 44,785,044 514,467
							45,299,511
							13,697,362 905,329
							14,602,691
							30,696,820
							31,087,682

At 31 August 2022 there were outstanding contractual commitments for further capital expenditure of £Nil (2021 - £Nil).

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

8 Computer Motor Consolidated Equipment Vehicles £ £ Cost Balance at 1 September 2021 1,747,595 40,623 Additions 249,415 - Disposals - - Balance at 31 August 2022 1,997,010 40,623 Depreciation Balance at 1 September 2021 1,120,073 40,623 Charge for year 211,230 - Disposals - - Balance at 31 August 2022 1,331,303 40,623 Net Book Value at 31 August 2022 665,707 - Net Book Value at 31 August 2021 627,522 - Fixed Assets - Vehicles and Equipment Computer Motor School Equipment Vehicles £ £ Cost Balance at 1 September 2021 1,708,687 40,623 Additions 244,021 - Disposals - - Balance at 31 August 2022 1,952,708 40,623 Depreciation Balance at 1 September 2021 1,105,220 40,623 Charge for year 202,885 - Disposals - - Balance at 31 August 2022 1,308,105 40,623 Net Book Value at 31 August 2022 644,603 - Net Book Value at 31 August 2021 603,467 - At 31 August 2022 there were outstanding contractual commitments for further capital Fixed Assets - Vehicles and Equipment

At 31 August 2022 there were outstanding contractual commitments for further capital expenditure of £Nil (2021 - £Nil).

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

9 Investments Valuation at 1 September 2021 Redemption from Fund Fees paid 2022 Loss on Investments Valuation at 31 August 2022 (Bid Price) Bond Funds UK Fixed Interest Overseas Fixed Interest UK Equities Overseas Equities Property Infrastructure Cash Consolidated Shares in Subsidiary School Historical Cost at 31 August 2022	Shares In Subsidiary £ 2 - - - 2 - - - - - - - - - 2 2 2		Restricted Funds £ 25,107 - - - 25,107 18,761 - - 6,346 - - - - 25,107 - 25,107 11,795		Endowment Fund £ 14,907,599 - (64,343) (1,123,963) 13,719,293 - 995,575 776,553 4,262,598 4,343,868 1,034,886 1,501,861 803,952 13,719,293 - 13,719,293 10,376,763	Total £ 14,932,708 - (64,343) (1,123,963)

						13,744,402
						18,761 995,575 776,553 4,268,944 4,343,868 1,034,886 1,501,861 803,952
						13,744,400 2
						13,744,402
						10,388,560

Holdings in Vanguard Funds Plc and Charity Property Fund each exceeds 5% as a proportion of the overall portfolio.

10 Debtors and Prepayments

Debtors and Prepayments
	Consolidated		School
	2022	2021	2022	2021
	£	£	£	£
Due within One Year
Tuition Fees and Disbursements	265,899	723,936	265,899	723,936
Prepayments	172,195	115,831	137,041	104,144
Other Debtors	295,056	227,834	291,782	224,831
Amount due from Subsidiary Company	-	-	816,691	852,088
	733,150	1,067,601	1,511,413	1,904,999

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

11 Creditors and Accruals Fee Creditors Fee Deposits (Refundable in one year) Other Taxation, Social Security and Pensions Trade Creditors Accruals Fees Composition Scheme (Note 13) Value Added Tax Other Creditors Fees Paid by Parents in Advance Pension Deficit (Note 19b) Other Income received in Advance (Note 14)	Consolidated 2022 2021 £ £ 111,826 437,338 75,250 89,250 594,803 622,637 248,644 237,625 640,656 267,651 703,441 651,945 94,279 71,194 233,636 74,209 291,182 315,532 54,228 78,720 145,543 66,154 3,193,488 2,912,255	School 2022 2021 £ £ 111,826 437,338 75,250 89,250 594,803 622,637 221,301 177,611 584,780 247,932 703,441 651,945 14,194 7,060 233,636 74,209 291,182 315,532 54,228 78,720 19,886 - 2,904,527 2,702,234	School 2022 2021 £ £ 111,826 437,338 75,250 89,250 594,803 622,637 221,301 177,611 584,780 247,932 703,441 651,945 14,194 7,060 233,636 74,209 291,182 315,532 54,228 78,720 19,886 - 2,904,527 2,702,234
			2,702,234

12 Bank Loans Due after more than one Year After five years Within two to five years Within one to two years Due within one year Bank Loan Repayments Total Bank Borrowing	Consolidated 2022 2021 £ £ - - 1,042,776 1,735,004 834,906 902,314 1,877,682 2,637,318 834,906 902,314 834,906 902,314 2,712,588 3,539,632	School 2022 2021 £ £ - - 1,042,776 1,735,004 834,906 902,314 1,877,682 2,637,318 834,906 902,314 834,906 902,314 2,712,588 3,539,632	School 2022 2021 £ £ - - 1,042,776 1,735,004 834,906 902,314 1,877,682 2,637,318 834,906 902,314 834,906 902,314 2,712,588 3,539,632
			2,637,318
			902,314
			902,314
			3,539,632

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

13 Advance Fee Payments - Fees Composition Scheme

Parents may pay tuition fees in advance. The money may be returned subject to specific conditions on the receipt of one term's notice. Assuming all pupils currently in the scheme will remain in the school, advance fees will be applied as follows:-

After 5 Years Within 2 to 5 years Within 1 to 2 years Within 1 year (Note 11)	2022 £ 108,345 759,985 498,945 1,367,275 703,441 2,070,716	2021 £ 94,608 469,342 461,232
		1,025,182 651,945
		1,677,127

The balance below represents the accrued liability under the contracts. The movements during the year were:-

£ 1,073,236 73,270	£ 874,457 46,987	£ 1,351,972 921,444 (571,593) (24,696) 1,677,127 School 2021 £ - - - - School 2021 £ 14,579,778 3,737,868 5,725,808 2021
2022 £ 66,154 (66,154) 145,543	2022 £ - - 19,886
145,543	19,886
2022 £ 12,940,448	2022 £ 12,940,448

4,310,104	4,762,868	3,737,868
5,740,022	5,451,061	5,725,808

Financial assets measured at fair value comprise listed investments. Financial assets measured at amortised cost comprise debtors, cash and investments in subsidiary undertakings. Financial liabilities measured at amortised costs comprise bank loans and overdraft, fee deposits, advance fees, deferred income and other creditors.

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

16 Allocation of the Net Assets

The net assets held for the various funds as at 31 August 2022 are as follows:-

	Fixed Assets £ 17,007,340 654,243 14,118,301	Net Current Assets/ (Liabilities) £ - 327,537 28,985	Long term (Liabilities) £ - - (4,473,317)	Total £ 30,726,633 1,006,887 9,673,971

	31,779,884 682,890	356,522 (682,888)	(4,473,317) -	41,407,491 -
32,462,774		(326,366)	(4,473,317)	41,407,491

17 Funds

Figures in respect of the following funds can be found in Note 17a-17c.

The Capital Investment Fund represents several capital distributions received from The Dulwich Estate since 1995. Capital distributions are made at the discretion of The Dulwich Estate.

The James Allen's Bursary Fund has been set up to provide fees support to replace the Government Assisted Places Scheme which was abolished in 1997 and fundraising for this purpose continues.

The Development Fund consists of donations received to provide funds for capital projects. The transfer to unrestricted funds in respect of the Development Fund represents use of the funds for capital projects in the year.

Community Music Centre Fund consists of donations received in respect of this project.

The Annual Fund represents general fund raising, which is applied to various specific items benefiting the whole

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

Balance Incoming 1 September Resources 2021 £ £ 17a Endowment Funds, including expendable endowments Capital Investment Fund 27,106,383 - James Allen's Bursary Fund 4,744,213 - 31,850,596 - 17b Restricted Funds James Allen's Bursary Fund 281,812 102,510 Development Fund - 440 Community Music Centre 654,243 240 936,055 103,190 17c Designated and Unrestricted Funds (School) Annual Fund - 844 James Allen's Bursary Fund 1,000,000 - General Reserve 8,214,407 23,190,345 9,214,407 23,191,189 17c Designated and Unrestricted Funds (Consolidated) Annual Fund - 844 James Allen's Bursary Fund 1,000,000 - General Reserve 7,911,739 24,972,653 8,911,739 24,973,497 Total (School) 42,001,058 23,294,379 Total (Consolidated) 41,698,390 25,076,687	Balance Incoming 1 September Resources 2021 £ £ 17a Endowment Funds, including expendable endowments Capital Investment Fund 27,106,383 - James Allen's Bursary Fund 4,744,213 - 31,850,596 - 17b Restricted Funds James Allen's Bursary Fund 281,812 102,510 Development Fund - 440 Community Music Centre 654,243 240 936,055 103,190 17c Designated and Unrestricted Funds (School) Annual Fund - 844 James Allen's Bursary Fund 1,000,000 - General Reserve 8,214,407 23,190,345 9,214,407 23,191,189 17c Designated and Unrestricted Funds (Consolidated) Annual Fund - 844 James Allen's Bursary Fund 1,000,000 - General Reserve 7,911,739 24,972,653 8,911,739 24,973,497 Total (School) 42,001,058 23,294,379 Total (Consolidated) 41,698,390 25,076,687	Resources Expended £ - -	Transfer Between Funds £ - -	Losses £ (781,829) (342,134)	Balance 31 August 2022 £ 26,324,554 4,402,079

31,850,596	-	-	-	(1,123,963)	30,726,633
281,812 - 654,243	102,510 440 240	(31,678) - -	- (440) (240)	- - -	352,644 - 654,243
936,055	103,190	(31,678)	(680)	-	1,006,887
	844 - 23,190,345	- - (22,732,305)	(844) - 1,524	- - -	- 1,000,000 8,673,971
9,214,407	23,191,189	(22,732,305)	680	-	9,673,971
		- - (24,230,230)	(844) - 1,524	- - -	- 1,000,000 8,655,686
8,911,739	24,973,497	(24,230,230)	680	-	9,655,686
42,001,058	23,294,379	(22,763,983)	-	(1,123,963)	41,407,491
41,698,390	25,076,687	(24,261,908)	-	(1,123,963)	41,389,206

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

18 Commitments under non-cancellable operating leases

Commitments under non-cancellable operating leases
Total Payable Within 1 Year Within 2 - 5 years		Other 2022 £ 118,323 23,961 142,284		Other 2021 £ 118,323 142,284
				260,607

The charge to the Statement of Financial Activities is detailed in note 4.

19 Pension Schemes

The School participates in three pension Schemes.

19a The School participates in the

Pension Scheme for its teaching staff. The pension charge for the

year includes contributions payable to the TPS of £1,831,529 (2021 - £1,800,120) and at the year-end £223,606 (2021 - £220,908) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Pensions Regulations 2010 (as amended) and The Pension Scheme Regulations 2014 (as amended). Members contribute on a as you 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 Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%.

The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the ruling in the This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions

On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of judgment that transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the decision and has said it will engage fully with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed with a deferred choice underpin under which members will be able to choose either legacy or reformed scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 at the point they become payable.

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. Following a public consultation, the Government have accepted three key proposals recommended by the Government Actuary, and are aiming to implement these changes in time for the 2020 valuations.

The 2016 cost control valuations have since been completed in January 2022, and the results indicated that there would be no changes to benefits or member contributions required. The results of the cost cap valuation are not used to set the employer contribution rate, and HM Treasury has confirmed that any changes to the employer contribution rate resulting from the 2020 valuations will take effect in April 2024.

Until the 2020 valuation is completed it is not possible to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly, no provision for any additional past benefit pension costs is included in these financial statements.

The second and third schemes are for the School's support staff and are administered by The Pensions Trust. The contributions of the School are between 10% and 15% and the employees' contributions are between 5% and 18%. Growth plan and Flexible retirement plan both operated as salary sacrifice plans. The Flexible retirement plan also offers life assurance .The pension cost charged in these accounts for these schemes was £320,177 (2021 - £318,624), being the contributions due for the year and at the year-end £38,309 (2021 - £33,969) was accrued in respect of contributions to these schemes.

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

19b The Pensions Trust - The Growth Plan

The company participates in the scheme, a multi-employer scheme which provides benefits to some 950 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the school is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum payable monthly towards the deficit contributions; From 1 April 2019 to 30 September 2025: £11,243,000 per annum payable monthly towards the deficit contributions.

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

showed assets of £793.4m, liabilities of £969.9m and a deficit of £131.5m. Based on the new valuation carried at 30 September 2020 and to eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 1 January 2025: £54,228 per annum (payable monthly). This includes a deficit contribution of £25,606 per annum and plan expenses of £28,622 per annum (increasing by 3% each on 1st April).

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

The liability included in these accounts is:- Due within one Year Due after one year Present Value of Provision Reconciliation of opening and closing provision Provision at start of year Unwinding of discount factor (interest expense) Deficit contribution Remeasurement - impact of any change in assumptions Prior period correction Remeasurement - amendments to the contribution schedule Provision at year end Impacts on SOFA	2022 54,228 4,610 58,838 275,767 1,561 (56,022) (2,593) - (159,875) 58,838	2021 78,720 197,047 275,767 350,862 1,703 (76,427) (371) - - 275,767	2020 76,427 274,435
			350,862
			415,746 3,670 (74,201) 3,207 2,440 -
			350,862

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

19b The Pensions Trust - The Growth Plan (Cont'd)

Assumptions	2022	2021	2020
Rate of Interest	4.46%	0.63%	0.55%

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The following schedule details the deficit contributions agreed between the school and the scheme at each year end period:

period:
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10	2022 £'000 26 26 11 - - - - - - -	2021 £'000 79 81 84 35 - - - - - -	2020 £'000
			76 79 81 84 35 - - - - -

The school has recognised a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account which is the unwinding of the discount rate as a finance cost in the period in which it arises. It is these contributions that have been used to derive the school's balance sheet liability.

20 Net Cash Flow From Operating Activities Net cash provided by operating activities Net (Expenditure) / Income Losses / (Gains) on Investments Investment Income Interest Paid Investment Managers' Fees paid from Investment Pension Interest (Income) / Expense Depreciation Loss on Disposal of Assets Debtors Movement Stock Movement Creditors Movement Advance Fees Discounts Advance Fees Discounts Reversed Net cash provided by operating activities	2022 £ (309,184) 1,123,963 (318,446) 77,035 64,343 (1,032) 1,329,933 35,256 334,451 (3,866) 436,779 73,270 - 2,842,502	2021 £ 2,390,004 (2,083,385) (358,236) 78,436 64,622 1,332 1,350,498 - 123,839 (93) (948,124) 46,987 (24,696)
		641,184

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

21 Related party transactions

Four trustees of the school had daughters who attended the School during this financial year and they all paid full school fees. One of these trustees' daughter was awarded two scholarships for £2,000 (2021 - £1,000). All school fees were paid in full during the year in line with school policies. No trustee of the school or director of the subsidiary company or person connected with a trustee or director received any benefit from either means-tested bursaries or scholarships supplements, other than outlined above.

Key Management Personnel and Trustees are related parties and details can be found in Note 4.

22 Comparative Figures

Unrestricted Funds £ - 1,459,701 18,357,840 1,045,484 1,060,665 232,280	Designated Funds £ 124,924 - - - - -	Restricted Funds £ 380,934 - - - - 125,956	Endowment Funds £ - - - - - -	2021 Total £ 505,858 1,459,701 18,357,840 1,045,484 1,060,665 358,236
22,155,970	124,924	506,890	-	22,787,784
477,129 1,440,628 20,057,550	- - -	- - 505,858	- - -	477,129 1,440,628 20,563,408
21,975,307	-	505,858	-	22,481,165
-	-	-	2,083,385	2,083,385
180,663 (162,900) -	124,924 (45) -	1,032 162,945 -	2,083,385 - -	2,390,004 - -
17,763	124,879	163,977	2,083,385	2,390,004
7,758,565 17,763	1,010,532 124,879	772,078 163,977	29,767,211 2,083,385	39,308,386 2,390,004
7,776,328	1,135,411	936,055	31,850,596	41,698,390

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2022 (CONT'D)

Balance Incoming 1 September Resources 2020 £ £ 22 Comparative Figures (continued) Endowment Funds, including expendable endowments Capital Investment Fund 25,755,516 - James Allen's Bursary Fund 4,011,695 - 29,767,211 - Restricted Funds James Allen's Bursary Fund 117,835 506,530 Development Fund - 120 Community Music Centre 654,243 240 772,078 506,890 Designated and Unrestricted Funds Annual Fund - 45 James Allen's Bursary Fund 1,000,000 - General Reserve 7,834,775 21,291,538 8,834,775 21,291,583 Total (School) 39,374,064 21,798,473 Total (Consolidated) 39,308,386 22,787,784	Balance Incoming 1 September Resources 2020 £ £ 22 Comparative Figures (continued) Endowment Funds, including expendable endowments Capital Investment Fund 25,755,516 - James Allen's Bursary Fund 4,011,695 - 29,767,211 - Restricted Funds James Allen's Bursary Fund 117,835 506,530 Development Fund - 120 Community Music Centre 654,243 240 772,078 506,890 Designated and Unrestricted Funds Annual Fund - 45 James Allen's Bursary Fund 1,000,000 - General Reserve 7,834,775 21,291,538 8,834,775 21,291,583 Total (School) 39,374,064 21,798,473 Total (Consolidated) 39,308,386 22,787,784	Resources Expended £ - -	Transfer Between Funds £ - -	Gains £ 1,350,867 732,518	Balance 31 August 2021 £ 27,106,383 4,744,213

29,767,211	-	-	-	2,083,385	31,850,596
117,835 - 654,243	506,530 120 240	(505,858) - -	163,305 (120) (240)	- - -	281,812 - 654,243
772,078	506,890	(505,858)	162,945	-	936,055
	45 - 21,291,538	- - (20,749,006)	(45) - (162,900)	- - -	- 1,000,000 8,214,407
8,834,775	21,291,583	(20,749,006)	(162,945)	-	9,214,407
39,374,064	21,798,473	(21,254,864)	-	2,083,385	42,001,058
39,308,386	22,787,784	(22,481,165)	-	2,083,385	41,698,390

23 Comparative Figures - Allocation of the Net Assets The net assets held for the various funds as at 31 August 2021 were as follows:-

Endowment Fund Restricted Funds Unrestricted Funds School Trading Subsidiary Consolidated		Fixed Assets £ 16,942,997 654,243 14,487,323		Investments £ 14,907,599 25,107 2		Net Current Assets/ (Liabilities) £ - 256,705 (372,171)		Long term (Liabilities) £ - - (4,900,747)	Total £ 31,850,596 936,055 9,214,407
	32,084,563 897,580			14,932,708 (2)		(115,466) (897,578)		(4,900,747) -	42,001,058 -
	32,982,143			14,932,706		(1,013,044)		(4,900,747)	42,001,058