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11741 A Report and Accounts YEAR ENDED 31 AUGUST 2023 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 2023

	Page
Governors, Officers,Addresses and Advisers	7-3
Annual Report ofthe Governors (Incorporating Strategic Report)	4-24
Independent Auditor's Report	25-27
Consolidated Statement of Financial Activities	28
Consolidated Summary Income and Expenditure	29
Consolidated Balance Sheet	30
Parent Only Balance Sheet	31
Consolidated Cash flow Statement	32
NotestotheAccounts	33-51

JAMES ALLEN’S GIRLS’ SCHOOL

GOVERNORS, OFFICERS, ADDRESSES AND ADVISERS

The Governors are also directors of James Allen’s Girls’ School, a company limited by guarantee and registered in England number 6618970, registered charity number 1124853. They are appointed by the Board of Governors for a normal term of five years. They may be re-elected for one further term.

The members of the Governing Body who served in office as Governors during the year and subsequently are detailed below:

DrJane Marshall MB, BCh, BAO[(Hons),] DCH, MRCP, MRCPsych & FRCPsych[(Chair] of Governors —[Effective] from[21][ July] 2023)

Consultant Psychiatrist in the Addictions, South London & Maudsley NHS Foundation Trust; Former Dulwich Estate trustee.

Mr David Miller MA & FCSI (Chair of Governors — Resigned effective from 21 July 2023)

Retired Executive Director at Quilter Cheviot; formerly Royal Bank of Canada; JP Morgan Private Bank and Flemings Private Asset Management; former JAGS parent; former Dulwich Estate trustee. Currently Investment Director of Conficap OyMr.

Mr Alan Bird MA (Cantab) & MSc (LSE)

Former Governor of the London Academy of Excellence 2014-2017; Head of City of London Boys School.

Mr Richard Collins MA (Oxon), FCA & CF

Chief Operating Officer at The Pollen Estate, experience as Governor of a local primary school and as trustee of a number of local charities, current JAGS parent.

Mr Robert Cunningham MA, ACA and CTA

Senior leader in HMRC, Large Business. Previously taxation and reporting roles in practice and commercial organisations. Experience as trustee of education and social care charities, formerJAGS parent.

Mrs Sarah Drennan-Jones LLB (Hons)

Global Legal Director at Reckitt Benckiser plc, a FTSE 20 business. Sarah has previously held legal positions within other large multi-national organisations and has a wealth of legal and business experience including managing multijurisdictional Data Protection projects, pan EU litigation and supporting strategy execution. Sarah trained and qualified as a solicitor at a leading international law firm.

Mr Milind Dhuru B.Com, MBA & ACA

Chief Operating Officer at TCS Ltd, a large financial services company. Expertise managing large business units across multiple locations and geographies, former JAGS parent.

Mr Adrian Floyd BSc (Hons) PGCE

Headmaster of The Hawthorns School, Surrey and previously Head of Finton House, Wandsworth.

Ms Victoria Hyndman BA (Hons) & MBA

Partner, Sainty Hird & Partners, Executive Search Consultant focused on Investment Management, experience as Governor of a Nursery School and Children’s Centre, former JAGS parent.

Investment Manager

REPORT OF THE GOVERNORS

(Incorporating their Group Strategic Report)

For year ended 31 August 2023

James Allen’s Girls’ School (‘the School’ or ‘AGS’ or ‘the Charity’) is a company limited by guarantee (registered in England number 6618970) with charitable status (charity number 1124853). The directors of the company, who are also charity trustees and Governors of the School, present their annual report (incorporating the strategic report) and audited accounts for the year ended 31 August 2023 (‘the Accounts’) and confirm they comply with the requirements of the Charities Act 2011, the Scheme (Trust Deed) dated 31 July 1995 (as amended), the Companies Act 2006 and the Statement of Recommended Practice, 2019, Second Edition, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Governors, officers and principal addresses of the company are as listed on pages 2 to 3, as are particulars of the company’s professional advisers in the year.

REVIEW OF 2022-23 ACTIVITIES TO SUPPORT OUR AIMS AND OBJECTIVES OUR LEARNING Curriculuffl development5 - junior School Thi5 year, we have developed our Forest School education prosrarnme to include re8ular Forest School les50n5 Wlthin our Key Stase 2 Science curriculum. We have also developed our debatin8 pro8ramme with our school, reachin8 the fina15 of the Cicero Cup debatin8 competition. We have continued to develop our PSHCE pro8ramrne and have a150 developed even Stronger link5 Wlth our Senior School colleagues to ensure continuity and pro8ression of curriculum from Years 2 to 3 and Years 6 to 7. We have run Several 5ubject-therned week5 includin8 a Pre-Prep and a Prep Book Week, durin8 which we welcorned children'5 author5, iIIu5trator5 and Storytellers to run workshops With our pupils. Pupils in Years 3- 6 took part in Shakespeare Workshops and a poetry readin8 event. We also held a Maths Week, during which pupils took part in problem-501vin8 workshops and daily Maths puzzles. Our Science Week included a workshop on the theme of Space. Prep Music Week demonstrated the high commitment to Music education within our school with the majority of pupils perforrnins individually or in an ensemble. We have en8a8ed wholeheartedly with local primary schools to develop our educational offer. We h05ted an athletlC5 aftern(x)n for Pre-Prep pupils frotn several local schools and we h05ted 'The Big Sing,, during which we were joined by pupi15 from three local primary sch(yJ15 and two independent Schools for a Year15in8in8 festival. In addition, we invited pupils from three local prirnary 5choo15 to join us for two children's author talks at our school.

Our CPD programme has focused particularly on learning enrichment, digital learning and pupil wellbeing.

Curriculum developments - Senior School

The curriculum remains a key strategic focus, and in 2022-23 the school community finished the first year of our Complete Education Review. The aim of this was to develop a bold, topical and modern curriculum, ensuring that JAGS students leave the school with the skills and knowledge to thrive in a global, digital society. Recommendations have now been prepared for trial, and evaluation started in September 2023.

During the academic year 2022-23 we also reviewed our lesson length and curriculum. As a result, in September 2023, we were excited to launch a new timetable. All lessons are now 50 minutes and between each lesson there are 5 minutes travel time. The change to lesson timings means increased teaching minutes for subjects across Key Stages 3, 4 and 5.

In addition, the Year 7 Science and Modern Foreign Languages curricula have been reviewed, and in Year 9 we are offering students a small level of choice to refine the number of subjects they study. This allows students the ability to self-determine the subjects they wish to spend more time studying.

Enrichment in the curriculum

During the academic year 2022-23, we have developed a bespoke enrichment course called Curriculum Plus for launch in September 2023. The curated courses will be in Years 7, 8, 9 and 10. Each is designed by multiple members of staff from different subject disciplines to enhance learning beyond the assessed curriculum, developing the skills, knowledge and capabilities students need to navigate the uncertain and rapidly changing demands of the future workplace.

A Level students’ curriculum is broadened through the Liberal Studies, the Co-Ed Enrichment Programme and MOOCs. This process continues to be successful in developing student competencies, providing them with experience and skills that develop their university applications.

Exam results 2022-23

In Summer 2023, JAGS’ students completed their A Level and GCSE exams. This year Ofqual announced that grading would return to pre-pandemic level. The academic results for our 2022-23 cohort were very strong at GCSE and exceptional at A Level. In terms of JAGS students accessing the top grades, 52% of our GCSE students achieved a 9 and 83% of our A Level students achieved an A or A*.

Higher Education & Careers

Our Year 13 leavers went on to study an extremely broad range of courses at prestigious universities in the UK and overseas. This included 21 students taking up places at Oxford and Cambridge universities.

84% of Year 13 students making an application took up their firm choice. We were delighted that 2 students were accepted for Art Foundation and Practical Theatre/Production Arts and that 5 students accepted places to study overseas.

Despite continued competition, 11 students have secured places at Medical School and 1 for Veterinary Medicine.

JAGS continues to review its educational offering and Higher Education programme to ensure that the students remain extremely well-prepared in this competitive market.

Staff CPD

Professional development is central to JAGS and this commitment continues. External CPD has been valuable this year as post-Covid updates to areas such as exams have demanded attention, alongside a full return to trips and the wider life of the school requiring CPD in areas such as First-Aid. In-house CPD this year has been focussed on our Complete Education Review.

This academic year, Generative Artificial Intelligence has required a rapid response to ensure that we are both protecting our students and staff, whilst also learning, exploring, and discovering the possibilities of this worldchanging technology.

In 2022-23, JAGS supported five Initial Teacher Training placements in Geography, Sciences, MFL, Maths and Classics, alongside supporting five colleagues to complete the first year of the rigorous two-year ECT (Early Career Teacher) programme.

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OUR PEOPLE

Core Values

The Senior School has sought to celebrate our diverse and inclusive community, and to inspire and empower them with habits of kindness, curiosity and compassion. Form names have been linked to school values, and focus weeks across the year on Communication, Eco-Awareness, International Women’s Day, Wellbeing and Mental Health Awareness, LGBTQ+, Black History and Windrush legacy have enabled students to explore the people, communities and world around them. JAGS life extends far beyond the classroom, and the myriad student-led societies and charity support initiatives have enabled the school to exhibit and develop its core values across a happy and cohesive community.

The Junior School has continued to embody and promote our school core values through all that we do both inside and outside of the classroom. A key pastoral focus across the last two terms has been a Character Education project with the aim of bringing our whole school core values to life in a Junior School age-appropriate way.

Empowering all individuals

Student voice in the form of the Senior School Council became strongly embedded this year. The Head Girl team conveyed ideas upwards from students to school leaders, modelling respectful discourse, and advocating such causes as increasing charitable action, wider access for sanitary products, promoting peer-mentoring with revision strategies and tips, and debating the impacts of gendered language. Sixth Formers led on practical ways to build an inclusive culture with assemblies on kindness & managing conflict with care. Students across the school fed their ideas into significant

changes to the school: changes to the curriculum and timetable, evaluating new classroom and corridor design, as well as the finer details in the new Holst Hall development project.

Wellbeing

Supporting physical and mental health is central to JAGS’ strategic vision for an integrated community of students and staff. A new James Allen’s Mental Health First-Aider (JAMHFA) team were recruited from Year 12 and trained by Mental Health First Aid England, working with counsellors, senior leaders and our mental health governor to support students and contribute to the school’s wellbeing and mental health development.

Specific moments continued to highlight wellness through the year. A student-focused Wellbeing Week focused on the individual and collective benefit of engaging in shared activities such as Just Dance, stone painting, outdoor games, botany gardening, and making best use of the JAGS site with new outdoor bean bags.

Equity, Diversity & Inclusion (EDI)

The Senior School’s Equity & Respect Forum met half-termly to focus on specific EDI matters, and its feedback and suggestions fed up to School Council as well as enacting change in its own capacity: ensuring JAGS used authentic ingredients and recipes for world food dishes served regularly in the school kitchens, and at specific events such as the Multicultural Evening; putting forward practical recommendations to staff in pronouncing diverse student names and developing an Anti-Racism Charter.

The whole-school assembly programme continued to give a platform to students in the school from minority backgrounds. The Islamic Society presented on the significance of and different approaches to head coverings in Islam, African-Caribbean Society on the Bristol Bus Boycott and Windrush, LGBTQ+ society on Pride and being an ally.

In the Junior School, we sought to put EDI at the heart of all activities. Our assembly programme was enriched enormously by parent speakers coming in to share their expertise, particularly in relation to cultural and religious celebrations such as Diwali and the Lunar New Year. In Summer term, we held our first Junior School Careers Week which was a huge success. Pupil and parent voice following Careers Week demonstrated that the talks and workshops were inspiring and empowered pupils to challenge stereotypes of different job roles and backgrounds.

Both Deputy Heads continue to work closely with our Learning Enrichment Team to ensure that any barriers that could potentially hinder or exclude individual pupils, or groups of pupils, are removed to ensure that we are a highly inclusive school community in which every pupil can flourish.

Between the Senior and Junior School, the Year 12 and Year 6 Mentor Programme continued successfully.

Personal, Social, Health and Economic Education (PSHCE)

In the Senior School, the PSHCE programme continued to deliver high-quality, subject-specific teaching, with student feedback on the curriculum providing meaningful adaptations, such as increasing the amount of financial education across the key stages. Stand-out talks were provided to students on the topics of body image, e-safety, mental health, RSE, revision and study skills, and preparing for university and careers across a range of alumnae seminars.

In the Junior School, PSHCE teachers completed a range of activities to support the wellbeing and learning of our pupils. Additional developments within the Junior School PSHCE curriculum include the launch of our Rights Respecting Schools Award for UNICEF in September and giving all pupils in Year 2 and Year 6 the opportunity to take part in the Junior Duke Award from September.

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OUR COMMUNITY

Outreach and Partnerships

This year saw the launch of a series of Senior School “taster days” for primary school children, and we were delighted to welcome 150 children from primary schools within the Gipsy Hill Federation to JAGS to experience an insight into life after Year 6. Sessions were run by the MFL, science, drama and art departments, in response to requests from the primary schools themselves about the most helpful CPD opportunities for their teachers.

Our Saturday Literacy Scheme remained a stalwart of our outreach programme, with 48 Year 3 pupils from twelve local primary schools attending a two term Saturday morning programme offering support and encouragement with their literacy. Twenty of our own Year 10 pupils volunteered as mentors for the scheme, with Sixth Formers running the programme. We also collected food items for the Southwark Foodbank and toiletries for those in need in the local area. Our “silver support” programme offered companionship and technical advice to older residents in Southwark, and Sixth Formers taught maths to local primary school children on a year-long programme.

Our ongoing partnerships with local schools, particularly through the Southwark Schools’ Learning Partnership, have continued to be a source of enjoyment for staff and students alike. Particular highlights this year includes a baroque music workshop, debating competition, STEM event, big band day and stained glass window workshop. Senior leaders from the school also contributed to training programmes for aspiring leaders across Southwark schools. Our Houses led the way in fundraising for the Christian Blandford Fund, Cancer Research UK, Oasis India and Endometriosis UK, all charities nominated and voted for by students. In addition, pupils, staff and parents raised money

for the Disasters Emergency Committee to support people affected by the earthquakes in Syria and Turkey. At Christmas we raised money for Little Village’s campaign to give every family they supported in Southwark the chance to buy a Christmas present for their child.

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Co-Curricular opportunities & achievements

Senior School

The Prissian Theatre has once again been alive with the sound of productions throughout the academic year. Years Tl to 13 staged a joint production of ‘A Midsummer Night’s Dream’ with Dulwich College, and House Drama returned with four short scenes based on fairy stories, which showcased not only the talents of our young thespians in Years 8 and 9, but also the directing prowess of our Year 12 students. One of the department's priorities is to ensure that students interested in the performing arts in their widest sense have the opportunity to develop and shine. This was evident in the dedicated theatre companies for Year 9 pupils and Year 10 pupils, where students took on all the roles from scriptwriting and lighting design to stage management, make up and costumery. Pupils from Year 7 to Year 13 wowed in the annual dance show, and we were delighted to finish the year with Year 7 and 8 production of Frozen.

The school reverberated with the sounds of our various Music groups and ensembles in 2022-23. All instrumentalists and vocalists are encouraged to join a group, and the department ran 22 ensembles last year. Particular highlights of the year included our large-scale concerts, especially our two Christmas Concerts at Southwark Cathedral and our Spring Choral and Orchestral Concert at St John’s Smith Square.

2022-23 sawa flurry of competitive fixtures for our Sport department, with team success across the range of sports. Our UI8 tennis team were Surrey champions, our Year 11 biathlon team were national champions and even some of our newer sports saw success, with the junior water polo team taking sixth place in the national finals and our inaugural cheerleading team taking part in the national schools’ finals. Our strategic aim to support sport for all, as well as sport for excellence was realised in Year 7, where 94% of our year group were involved in a PE club or co-curricular activity outside of lesson time, with 74% representing the school in a competitive fixture.

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The Co-Curricular Programme has flourished during 2022-23, with over 100 clubs on offer each week. More unusual clubs included “LEGO Robotics” and “Can you Survive the Desert Island?”. In an end of year co-curricular survey, clubs named as favourites included African Caribbean Society, Incredible Edible and Silk Painting.

Junior School

We have worked on developing a Character Education programme to bring our whole school aims to life in an ageappropriate way. In consultation with our pupils, parents and staff, we have developed a Junior School set of values through which we aim to further support pupils’ wellbeing and a strong sense of belonging.

Pupil voice is incredibly important to us, and our pupils have taken part in several consultative roles including our Food Advisory Committee meetings and assembly, and our Eco Group’s work on reducing food and energy waste. Our Walk to School Week was well-supported by our pupils.

Our co-curricular offer has again increased to include Strategy Club, Country Dancing Club, Cheer Club, Growing Club, Drama Club, Tag Rugby and Knitting Club. Bouldering Club has been reintroduced too.

The Junior School took part in the Young Art competition and achieved ‘Commended’ and ‘Highly Commended’ results. They also took a range of ABRSM and English Speaking Board exams, achieving excellent results. One of our pupils was also awarded ‘Commended in the Poetry Society’s Villanelle Challenge.

Pupils took part in a range of trips to museums, places of interest including a day trip to Lille, trips to the Horniman Museum, Dulwich Picture Gallery, Hampton Court Palace, The Science Museum, The British Museum and The Unicorn Theatre, plus residential trips to France, Sussex and Dorset as well as a ski trip to Italy. Pupils also enjoyed a Coronation Celebration with biscuit decorating and arts and crafts activities.

In Drama, Year1 pupils performed ‘The First Kids in Space’, Year 2 pupils performed Annie the Musical, while pupils in Year 4 performed ‘A Big Green Adventure’ and Year 6 pupils performed Matilda the MusicalJr in our Prissian Theatre.

In Music, the Junior School took part in the Foundation Schools’ Choral Concert during which pupils collaborated with pupils from nearby schools.

Our charity work has included a whole school run in aid of the DEC’s Syria and Turkey Earthquake Appeal, own clothes days for Foodcycle and Comic Relief and collections for our local foodbank.

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OUR SUSTAINABILITY

Sustainability

The past year has been spent working with students and staff to change internal behaviours with a large emphasis on travel to and from school. We have supported various travel activities for both staff and students to encourage and incentivise active travel. From the good work on Travel this year, we have achieved a Gold on TFL STARS, which is a significant improvement from the previous year’s Bronze.

From an operational perspective, we have introduced new recycling bins in each classroom and office to increase recycling rates. We have increased food composting on-site and have made changes to our events to make them more sustainable. This includes introducing drinking water tanks, improving waste separation and signage, using QR codes to reduce the need to print, encouraging visitors to travel sustainably and to bring reusable water bottles, and reducing the amount of single-use plastic for events.

We are working on reducing our paper usage by monitoring print levels. Our Grounds and Botany teams have made significant improvements to our natural environment over the past year. We are phasing out petrol across our machinery and equipment, using organic eco-friendly fertiliser, continuing to compost on-site, working closely with suppliers to reduce plastic waste and deliveries to site, and increasing our wild space. Over the past year, through rewilding, we have increased our wild space by 21%. We have also started the revival of our botany beds and pond.

Streamlined Energy and Carbon Reporting

In accordance with the Streamlined Energy and Carbon Reporting (SECR) requirements, the School’s energy usage and emissions for the year ended 31 August 2023 were as follows:

Total Energy Use

4,837,801 kWh

Total Greenhouse Gas Emissions (mandatory & voluntary) 665.0 tCO2 Total Students 1,167

Intensity Ratio

0.57 tCO2 per student

The table below provides a comparison of current emissions relative to the last financial year. There has been a reduction in emissions mainly due to students’ awareness of energy efficiency measures such as switching-off lights, investment in a pool cover at the Sports’ Club and enhancing the swimming pool pumps.

Area ofMeasurement	FY 1 Sep 21 to 31 Aug 22	FY 1 Sep 22 to 31 Aug 23	Variance
Energy Use	4,914.8MWh	4,837.8MWh	1.6% decrease
Greenhouse Gas Emissions	674.1 tCO2 0.59tCO2perstudent		665.0 tCO2
	0.59tCO2 per student

ENCASS have used the GHG Protocol Corporate Accounting and Reporting Standard (revised edition). Further emission factors were used from UK Government’s GHG Conversion Factors for Company Reporting 2023.

Bursary policy

Our means tested bursary scheme is crucial in making a JAGS education accessible to everyone, not just to those whose families can afford the fees. Bursaries covered an average of 83% of all fees for the 142 pupils whose families received them in the 2022-23 academic year with 92 pupils receiving at least 90% support towards fees.

Bursaries may be awarded on entry at 1l+ or 16+ and may also help current pupils continue their education at JAGS should their families’ financial circumstances change. Bursaries are awarded after an extensive review of each applicant’s parental means and are available to families who meet our general entry requirements. In assessing means, we take several factors into consideration including family income, investments, savings, assets and family circumstances. The awards are up to 100% of fees and all awards also provide assistance towards the cost of uniforms, travel, lunches, trips and co-curricular activities. Once a bursary has been awarded, we will review the parental means of a recipient annually and the award may be varied if financial circumstances have changed.

Currently the School seeks to provide 20 new bursaries at 11+ entry and at least one new bursary a year at 16+ entry. The total number of bursary awards in place during 2022-23 was 142. A total of £2.6m was awarded in 2022-23.

Funding for bursaries comes primarily from the annual distribution from the Dulwich Estate, investment income, surpluses generated by JAGS Community Enterprises Limited, the School’s non-charitable trading company (see note 6 to the Accounts), donations and legacies. All these sources of funds are limited. It is essential to ensure that such funding can continue to be made available throughout a pupil’s School career.

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Building

In 2022-23, the School continued its commitment to classroom renovations. Over the summer of 2023, four classrooms in the Prep and nine classrooms in the Senior School were completed. The new rooms are contemporary classrooms with built-in teaching walls to provide storage and functionality but are also equipped with writable desks and collaboration boards on all walls.

During the Easter holidays in 2023, the pupil reception was renovated and a new pupil ‘quiet space’ was created.

Over the summer in 2023, a new SEND base was specifically designed to ensure we provided an inclusive and multi-use space that would be used to support teaching and self-study.

Online Space

In Autumn 2022 the school made the exciting decision to move to pupil 1:1 devices. A detailed plan has been developed that has already seen the wireless infrastructure ready for the pupil roll out in 2024-25.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

The School is a company limited by guarantee with charitable status. Its governing documents are the company’s Memorandum and Articles of Association.

Governing Body

The directors of the company limited by guarantee are charity trustees and Governors of the School. All trustees (Governors) give their time freely and no remuneration is paid to them in the year. Where the daughters of Governors have been awarded scholarships, they have been awarded on their own merits in line with criteria which are equal for all pupils. That apart, no Governor or person connected with a Governor received any benefit from either meanstested bursaries or scholarships supplement awarded to pupils.

Recruitment and Training of Governors

The Board reviews its constituency on a regular basis, analysing the skills available to it and identifying any gaps there might be. Through its Governors Nominations Sub-Committee, the Board seeks nominations from the parent body, Alumnae friends of the School, businesses, public services, the arts and professions so as to maintain the full range of skills and expertise required to ensure continuing good practice within the Board and so enhance the overall strategic management of the Charity. Potential Governors are interviewed by the Nominations Committee, the Head Girls and the Head, and may subsequently be recommended for appointment to the Board. A full induction programme, including instruction in respect of Board policy and procedures and any specific requirements appropriate for the individual Governor, is managed by the Clerk to the Governors. All new Governors are invited to attend the appropriate seminar run annually by the Association of Governing Bodies of Independent Schools. In addition to regular briefings, Governors may also attend seminars and workshops organised by professional bodies on topics of interest, including the impact of new legislation and regulation on educational charities. The Board holds an annual Strategy Day at which strategic matters are discussed.

Organisational Management

The Governors as directors of the company limited by guarantee and trustees of the charity are legally responsible for the overall management and control of the School and meet formally three times a year. The Finance & Operations Committee meets three times a year to set the fees tariff for the subsequent academic year, to agree a budget for bursaries, to finalise budgets, the statutory accounts and annual report, all for approval by the Board, and to deal with any pressing financial and operational matters between Board meetings. Other committees and working groups are authorised for specific purposes as required. Individual Governors also take a particular interest in various aspects of the School’s activities, including liaison with the School's various constituencies, health and safety, safeguarding and child protection, and diversity & inclusion.

Acting in accordance with the wishes of the Board as agreed from time to time, the Head of JAGS has strategic responsibility for the direction of the organisation as a whole. JAGS is one school and is committed to a “whole school” philosophy.

The JAGS Executive Team, which is considered Key Management Personnel, consists of the Head of JAGS, the Head of the Junior School, the Director of Operations, the Director of Finance, the Senior Deputy Head, the Deputy Head (Academic) and the Deputy Head (People).

The Senior School and the Junior School operate relatively independently with regard to day-to-day matters, with the Head ofJAGS and the Head of[ the][Junior] School each being[assisted] by[their] school leadership teams.

The Head ofJAGS, the Head of the Junior School, the Director of Finance and the Director of Operations attend all the formal Board Meetings of Governors. The Head of JAGS attends all Committee meetings, accompanied by appropriate members of the JAGS Executive Team and School Leadership Teams.

Group Structure

The company has a wholly-owned, non-charitable, trading subsidiary, JAGS Community Enterprises Limited. Two main School Governors, the Head of JAGS, the Head of the Junior School, the Director of Operations and Mr lan Rankine and Dr Roger Holdom (as independent directors) form its Board of Directors. The School’s Director of Finance is its company secretary.

GROUP STRATEGIC REPORT

Pupil Numbers and Fees

Educational activities are carried out through the Senior School and the Junior School. Pupil numbers held up well during the year, averaging 1,167 (2021-22: 1,150), being 866 in the Senior School which includes 200 in the Sixth Form and 301 in the Junior School. The school continues to be full. Demand for places remains strong, which gives confidence that pupil numbers will be maintained for the foreseeable future. The school believes this to be a result of its continued resolve to offer outstanding educational provision, maintain high academic standards, to provide the facilities expected of a leading school, and to be an active contributor to the local community. Fees for 2022-23 before the deduction of any means-tested bursaries and scholarships were £6,235 per term in the Junior School (a year on year increase of 4%) and £7,045 in the Senior School (an increase of 6.5%).

FINANCIAL REVIEW

The accounts which form part of this report reflect the income generated and the expenditure incurred by the School and its wholly owned trading subsidiary, JAGS Community Enterprises Limited (JCE Limited), for the year.

Charitable Status

The parents of JAGS pupils have the assurance that all the income of the School, as a charity, must be applied for educational purposes. JAGS benefits from tax exemption on its educational activities and on its investment income and gains, provided these are applied for its charitable aims. The School is also entitled to an 80% reduction on business rates on the properties occupied for its charitable purposes. The financial benefits of these tax exemptions are all applied for educational purposes and indirectly help to maintain the James Allen’s Bursary Fund and community outreach programmes. However, as an educational charity, exempt for VAT purposes, the School is unable to reclaim VAT input tax on its costs. The School also pays tax as an employer through the national insurance contributions it makes.

In addition to the substantial benefits the School brings to its pupils, the local community and society through the education offered, the bursary and community outreach programmes create a social asset without cost to the Exchequer.

Financial Results

In 2022-23 the net surplus of the Charity amounted to £2,141k (2021-22: Deficit of £309k). In 2022-23, investment revaluation was a loss of £344k compared to £1,124k in 2021-22. School fees accounted for 75.6% of total School income (2021-22: 78.7%). The Governors continue to apply all net income surpluses to the educational purposes and fabric of the School.

The funding for fee assistance comes primarily from the annual distribution of £1.7m (2021-22: £1.6m) from the Dulwich Estate, investment income and surpluses generated by JCE Limited. The School is very grateful for the annual distribution from the Dulwich Estate all of which is used to help fund Bursary pupils’ fee reductions. Dulwich Estate distribution funded 67% (2021-22: 64%) of the Bursary pupils’ fee reductions.

The trading results of JCE Limited are set out in note 6 to the Accounts. Its main activity during the year continued to be the operation of the JAGS Sports Club and a Cafe. A surplus of £477k (2021-22: Surplus of £466k) excluding the licence fee of £197k (2021-22: £181k) was made. The operating profit margin has reduced slightly caused by the increase in energy costs.

Companies (Miscellaneous Reporting) Regulations 2018

The Governors have promoted the success of the School by acting in good faith to assist the charitable company to meet its aims and objectives. Further detail on this can be found in the ‘Aims and Objectives of the School’ section of this report on page 5.

Employees are involved in, and consulted about, a variety of School and workplace issues through a range of mechanisms. A range of detailed HR policies support the charitable and business objectives and ensure compliance with employment legislations. Some of the policies are reviewed annually and others bi-annual.

The school provides various support mechanisms to promote the wellbeing of employees. These include a confidential Employee Assistance Programme, a chaplain, a medical centre, the provision of flu vaccinations, access to the school counselling team, free gym membership and provision of cycle to work scheme.

In accordance with the ‘Inclusion Policy’ and within the context of being a girls' school, the school is committed to ensuring that all pupils and employees and prospective pupils and employees have equal opportunity and are treated equally and fairly, irrespective of gender, including gender reassignment, race, colour, ethnic origin, nationality, age, marital status, socioeconomic background, disability, religious or political beliefs, family circumstances, sexual orientation or any protected characteristic as defined in the Equality Act 2010.

APPOINTMENT OF INDEPENDENT AUDITOR

Having indicated their willingness, Haysmacintyre have been re-appointed as independent auditor to the Charity for the year ending 31 August 2023.

5 December 2023

E Jane Marshall

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2023

Unrestricted Funds £ 654,735 1,733,640 21,473,646 2,048,342 2,085,969 254,800	Designated Funds £ 271 - - - - -	Restricted £ 44,558 - - - - 111,503	Endowment £ - - - - - -	2023 Total £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303	2022 Total £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446

28,251,132	271	156,061	-	28,407,464	25,076,687
567,319 1,915,297 23,395,580	- - -	- - 44,829	- - -	567,319 1,915,297 23,440,409	435,787 1,735,915 22,090,206
25,878,196	-	44,829	-	25,923,025	24,261,908
-	-	-	(343,773)	(343,773)	(1,123,963)
2,372,936 1,118,390	271 (271)	111,232 (1,118,119)	(343,773) -	2,140,666 -	(309,184) -
3,491,326	-	(1,006,887)	(343,773)	2,140,666	(309,184)
8,495,696 3,491,326	1,159,990 -	1,006,887 (1,006,887)	30,726,633 (343,773)	41,389,206 2,140,666	41,698,390 (309,184)
11,987,022	1,159,990	-	30,382,860	43,529,872	41,389,206

All amounts relate to continuing operations. All gains and losses recognised in the year are included above. The Notes on Pages 33 - 51 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 2023

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		2023 Unrestricted and Restricted Funds £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303 28,407,464 567,319 1,915,297 23,440,409 25,923,025 2,484,439 2,484,439	2023 Unrestricted and Restricted Funds £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303 28,407,464 567,319 1,915,297 23,440,409 25,923,025 2,484,439 2,484,439		2022 Unrestricted and Restricted Funds £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446	2022 Unrestricted and Restricted Funds £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446	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

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 28 and its presentation is required under the Companies Act 2006.

The Notes on Pages 33 - 51 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 ASSETS (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	£ £ 31,926,574 1,559,202 33,485,776 13,317,695 46,803,471 5,068 855,805 4,745,420 5,606,293 3,957,189 869,797 4,826,986 779,307 47,582,778 1,394,500 1,020,516 1,628,601 9,289 (4,052,906) 43,529,872 30,382,860 - 13,147,012 43,529,872 31 August 2023	£ £ 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	£ £ 31,163,386 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
			46,207,177 (344,654)
			45,862,523 (4,473,317)
			41,389,206
			30,726,633 1,006,887 9,655,686
			41,389,206

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 2023 is a surplus of £2.1m (2022 - Deficit of £0.59m)

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

E Jane Marshall

Robert S Cunningham

D r J ane M arshall Mr Robert Cunningham G overnor Governor D ate: 5 D ecember 2023 Date: 5 December 2023

Date: 5 December 2023

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	£ £ 31,437,248 1,359,346 32,796,594 13,317,697 46,114,291 1,328,170 4,647,948 5,976,118 3,660,685 869,797 4,530,482 1,445,636 47,559,927 1,394,500 1,020,516 1,628,601 9,289 (4,052,906) 43,507,021 30,382,860 - 13,124,161 43,507,021 31 August 2023	£ £ 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	£ £ 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
			45,524,286 356,522
			45,880,808 (4,473,317)
			41,407,491
			30,726,633 1,006,887 9,673,971
			41,407,491

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

E Jane Marshall

Dr Jane Marshall Governor Date: 5 December 2023

Robert S Cunningham

Mr Robert Cunningham Governor

Date: 5 December 2023

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED CASHFLOW STATEMENT

YEAR ENDED 31 AUGUST 2023

Net Cash Flow from Operating Activities Net cash provided by operating activities Cashflows from Investing Activities Investment Income Received Interest Receivable Interest Paid Buildings (Improvements and New Build) Purchase of other Tangible Fixed Assets Cashflows from Financing Activities Advanced Fees - New Contracts Advanced Fees - Amounts Utilised and Repaid Loan Repaid Pension Deficit Repaid Change in cash in the year Analysis of Changes in Net Debt Cash and cash equivalents Cash and cash equivalents Deposit accounts Borrowings Debt due within one year Debt due after one year	Note 20 At 1 September 2022 £ 2,945,197 - 2,945,197 834,906 1,877,682 2,712,588	£ £ 4,516,036 366,303 117,815 (126,183) (1,802,404) (657,837) (2,102,306) 1,083,617 (849,243) (822,275) (25,606) (613,507) 1,800,223 Other Cashflows Changes £ £ (1,199,777) - 3,000,000 - 1,800,223 - (834,906) 869,797 - (857,166) (834,906) 12,631 31 August 2023	£

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023

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 management’s 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 2023 (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. 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 “restricted funds” where these wishes are legally binding on the Governors. Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as “endowments” - permanent or expendable - according to the nature of the restriction. All donations in respect of the James Allen’s 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 School’s 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 School’s 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 2023 (CONT'D)

1. Accounting Policies (continued)

School Buildings: The reversionary freehold of the School’s 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 “ownership” 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 2023

(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:

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

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 - Employer’s 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 School’s 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 2023 (CONT'D)

			2023	2022
2	School Fees		£	£
	Net Tuition Fees		23,682,403	21,987,781
	Bursary Fee Reductions		(2,647,172)	(2,621,876)
	James Allen's Saturday School for the Performing Arts		438,415	368,355
			21,473,646	19,734,260
	Bursary and other awards were paid to 142 students (2022 - 150)
3	Other Ancillary Income		£	£
	Registration Fees		102,200	73,600
	Billing Interest and Other		181,440	33,655
	After School Club Income		40,158	43,572
	Insurance Commissions		32,618	42,295
	School Trips and Activities income - gross		839,380	347,004
	Catering Income		852,546	861,660
			2,048,342	1,401,786
4	Expenditure
	Other expenditure includes:-		£	£
	Auditor's remuneration	- Audit	26,550	23,100
		- Other	7,807	18,267
	Operating Leases		117,013	119,971
	Depreciation and Amortisation		1,375,896	1,329,934
	Impairment		61,344	-
	Staff costs:-		£	£
	Wages and salaries		13,013,524	12,367,998
	Social security costs		1,323,111	1,271,162
	Pension contributions - Teaching Staff		1,938,282	1,831,529
	Pension contributions - Support Staff		322,628	320,177
			16,597,545	15,790,866

The average number of employees in the year was 387 (2022 - 355) of whom 212 (2022 - 202) were teaching staff and 65 (2022 - 53) 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 £791 (2022 - £608). During the year termination payments made amounted to £10,956 (2022 - £8,109).

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

£60,000 were:-	2023	2022
£60,001 - £70,000	28	18
£70,001 - £80,000	20	18
£80,001 - £90,000	2	2
£90,001 - £100,000	2	-
£100,001 - £110,000	1	1
£110,001 - £120,000	-	1
£120,001 - £130,000	1	1
£210,001 - £220,000	1	1

In addition £889,179 (2022 - £711,434) was paid in pensions payments in respect of the 55 (2022 - 42) employees above.

Aggregate employee-benefits of Key management Personnel,	2023	2022
including Employers' National Insurance	£1,074,932	£1,137,920

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

5 Analysis of Expenditure

Analysis of Expenditure
Staff Costs £ Fund Raising and Publicity 336,125 Charitable Expenditure Teaching 14,870,670 Welfare 107,507 Premises 268,767 Awards 107,507 Total 15,354,451 Other Trading Subsidiary 896,218 Finance Costs 10,751 906,969 Total Expenditure 16,597,545 Analysis of Expenditure (2021-22 Comparative) 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	Direct Costs £ 220,175 1,741,184 1,615,623 2,902,910 502,214 6,761,931 610,620 295,513 906,133 7,888,239 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	Depreciation and Impairment £ 11,019 337,177 13,223 973,627 - 1,324,027 102,195 - 102,195 1,437,241 Depreciation and Impairment £ 6,056 300,768 16,149 947,719 - 1,264,636 94,497 - 94,497 1,365,189	2023 Total £ 567,319 16,949,031 1,736,353 4,145,304 609,721 23,440,409 1,609,033 306,264 1,915,297 25,923,025 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	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

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (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 and a cafe. 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 2023 are summarised below. At 31 August 2023, the Subsidiary owed £488,940 to the School (2022 - £816,691).

Profit and Loss Account of Subsidiary


Profit and Loss Account of Subsidiary Turnover Cost of sales Gross profit 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	2023 £ 2,085,969 (980,818) 1,105,151 (628,215) 476,936 (197,397) 279,539 - - 279,539 (238,401) (18,286) 22,852 £ £ 689,183 119,115 (785,444) (666,329) 22,854 2 22,852 22,854 31 August 2023	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	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)
			(18,284)
			2 (18,286)
			(18,284)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

7 Fixed Assets - Buildings Consolidated Cost Balance at 1 September 2022 Additions Write-off Balance at 31 August 2023 Depreciation Balance at 1 September 2022 Charge for year Impairment Write-off Balance at 31 August 2023 Net Book Value at 31 August 2023 Net Book Value at 31 August 2022	Buildings Improvements £ 32,953,779 264,566 (135,692) 33,082,653 10,675,021 709,128 - (135,692) 11,248,457 21,834,196 22,278,758		Sports and Grounds Complex £ 7,660,117 - - 7,660,117 3,052,708 153,202 - - 3,205,910 4,454,207 4,607,409		Freehold Property £ 5,777,095 - - 5,777,095 1,615,826 115,542 - - 1,731,368 4,045,727 4,161,269	Construction in Progress £ 115,950 1,537,838 - 1,653,788 - - 61,344 - 61,344 1,592,444 115,950	Total £ 46,506,941 1,802,404 (135,692)
							48,173,653
							15,343,555 977,872 61,344 (135,692)
							16,247,079
							31,926,574
							31,163,386

The impairment charge relates to professional fees associated with projects which had been aborted. The write-off relates to the Tennis and Netball courts which underwent a complete renovation during the year. At 31 August 2023, there were outstanding contractual commitments for further capital expenditure of £84,033 (2022 - £Nil).

Fixed Assets - Buildings School Cost Balance at 1 September 2022 Additions Balance at 31 August 2023 Depreciation Balance at 1 September 2022 Charge for Year Impairment Balance at 31 August 2023 Net Book Value at 31 August 2023 Net Book Value at 31 August 2022	Buildings Improvements £ 31,746,349 180,263 31,926,612 9,934,157 647,585 - 10,581,742 21,344,870 21,812,192		Sports and Grounds Complex £ 7,660,117 - 7,660,117 3,052,708 153,202 - 3,205,910 4,454,207 4,607,409		Freehold Property £ 5,777,095 - 5,777,095 1,615,826 115,542 - 1,731,368 4,045,727 4,161,269	Construction in Progress £ 115,950 1,537,838 1,653,788 - - 61,344 61,344 1,592,444 115,950	Total £ 45,299,511 1,718,101
							47,017,612
							14,602,691 916,329 61,344
							15,580,364
							31,437,248
							30,696,820

The impairment charge relates to professional fees associated with projects which had been aborted. At 31 August 2023, there were outstanding contractual commitments for further capital expenditure of £29,355 (2022 - £Nil).

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

8 Consolidated Cost Balance at 1 September 2022 Additions Balance at 31 August 2023 Depreciation Balance at 1 September 2022 Charge for year Balance at 31 August 2023 Net Book Value at 31 August 2023 Net Book Value at 31 August 2022 Fixed Assets - Vehicles and Equipment		Computer Equipment £ 1,997,010 449,498 2,446,508 1,331,303 221,230 1,552,533 893,975 665,707		Motor Vehicles £ 40,623 - 40,623 40,623 - 40,623 - -		Other Equipment £ 2,590,267 208,339 2,798,606 1,956,584 176,794 2,133,378 665,228 633,683		Total £ 4,627,900 657,837
								5,285,737
								3,328,510 398,024
								3,726,534
								1,559,203
								1,299,390

Fixed Assets - Vehicles and Equipment School Cost Balance at 1 September 2022 Additions Balance at 31 August 2023 Depreciation Balance at 1 September 2022 Charge for year Balance at 31 August 2023 Net Book Value at 31 August 2023 Net Book Value at 31 August 2022 At 31 August 2023, there were outstanding contractual £Nil).	Fixed Assets - Vehicles and Equipment School Cost Balance at 1 September 2022 Additions Balance at 31 August 2023 Depreciation Balance at 1 September 2022 Charge for year Balance at 31 August 2023 Net Book Value at 31 August 2023 Net Book Value at 31 August 2022 At 31 August 2023, there were outstanding contractual £Nil).	Computer Motor Other Equipment Vehicles Equipment Total £ £ £ £ 1,952,708 40,623 2,205,059 4,198,390 443,440 - 190,214 633,654 2,396,148 40,623 2,395,273 4,832,044 1,308,105 40,623 1,766,598 3,115,326 212,919 - 144,453 357,372 1,521,024 40,623 1,911,051 3,472,698 875,124 - 484,222 1,359,346 644,603 - 438,461 1,083,064 commitments for further capital expenditure of £70,127 (2022 -	Computer Motor Other Equipment Vehicles Equipment Total £ £ £ £ 1,952,708 40,623 2,205,059 4,198,390 443,440 - 190,214 633,654 2,396,148 40,623 2,395,273 4,832,044 1,308,105 40,623 1,766,598 3,115,326 212,919 - 144,453 357,372 1,521,024 40,623 1,911,051 3,472,698 875,124 - 484,222 1,359,346 644,603 - 438,461 1,083,064 commitments for further capital expenditure of £70,127 (2022 -	Computer Motor Other Equipment Vehicles Equipment Total £ £ £ £ 1,952,708 40,623 2,205,059 4,198,390 443,440 - 190,214 633,654 2,396,148 40,623 2,395,273 4,832,044 1,308,105 40,623 1,766,598 3,115,326 212,919 - 144,453 357,372 1,521,024 40,623 1,911,051 3,472,698 875,124 - 484,222 1,359,346 644,603 - 438,461 1,083,064 commitments for further capital expenditure of £70,127 (2022 -
				4,832,044
				3,115,326 357,372
				3,472,698
				1,359,346
				1,083,064

At 31 August 2023, there were outstanding contractual commitments for further capital expenditure of £70,127 (2022 - £Nil).

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

9 Investments Valuation at 1 September 2022 Redemption from Fund Fees paid 2023 Gains / (Losses) on Investments Valuation at 31 August 2023 (Bid Price) UK Fixed Interest UK Equities Overseas Equities Property Infrastructure Cash Consolidated Shares in Subsidiary School Historical Cost at 31 August 2023	Shares In Subsidiary £ 2 - - - 2 - - - - - - - 2 2 2		Restricted Funds £ 25,107 - - 5,615 30,722 - 15,873 5,515 9,334 - - 30,722 - 30,722 22,306		Endowment Fund £ 13,719,293 - (82,932) (349,388) 13,286,973 2,117,809 976,210 8,132,021 531,514 1,270,156 259,263 13,286,973 - 13,286,973 13,212,402	Total £ 13,744,402 - (82,932) (343,773)

						13,317,697
						2,117,809 992,083 8,137,536 540,848 1,270,156 259,263
						13,317,695 2
						13,317,697
						13,234,710

Holdings in Sarasin Responsible Corporate Bond - I Income exceeds 5% as a proportion of the overall portfolio.

10 Debtors and Prepayments

Debtors and Prepayments
	Consolidated		School
	2023 2022		2023	2022
	£	£	£	£
Due within One Year
Tuition Fees and Disbursements	240,527	265,899	240,527	265,899
Prepayments	403,470	172,195	389,387	137,041
Other Debtors	211,808	295,056	209,316	291,782
Amount due from Subsidiary Company	-	-	488,940	816,691
	855,805	733,150	1,328,170	1,511,413

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (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 2023 2022 £ £ 84,442 111,826 86,800 75,250 636,908 594,803 445,140 248,644 970,087 640,656 744,523 703,441 81,330 94,279 162,524 233,636 561,118 291,182 25,606 54,228 158,711 145,543 3,957,189 3,193,488	School 2023 2022 £ £ 84,442 111,826 86,800 75,250 614,835 594,803 437,545 221,301 888,990 584,780 744,523 703,441 14,777 14,194 162,524 233,636 561,118 291,182 25,606 54,228 39,525 19,886 3,660,685 2,904,527	School 2023 2022 £ £ 84,442 111,826 86,800 75,250 614,835 594,803 437,545 221,301 888,990 584,780 744,523 703,441 14,777 14,194 162,524 233,636 561,118 291,182 25,606 54,228 39,525 19,886 3,660,685 2,904,527
			2,904,527

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 2023 2022 £ £ - - 72,768 1,042,776 947,748 834,906 1,020,516 1,877,682 869,797 834,906 869,797 834,906 1,890,313 2,712,588	School 2023 2022 £ £ - - 72,768 1,042,776 947,748 834,906 1,020,516 1,877,682 869,797 834,906 869,797 834,906 1,890,313 2,712,588	School 2023 2022 £ £ - - 72,768 1,042,776 947,748 834,906 1,020,516 1,877,682 869,797 834,906 869,797 834,906 1,890,313 2,712,588
			1,877,682
			834,906
			834,906
			2,712,588

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (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)	2023 £ 198,150 820,190 610,261 1,628,601 744,523 2,373,124	2022 £ 108,345 759,985 498,945
		1,367,275 703,441
		2,070,716

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

£ 1,083,617 (43,182) 61,776	£ 1,073,236 - 73,270	£ 1,677,127 1,146,506 (752,917) - 2,070,716 School 2022 £ - - 19,886 19,886 School 2022 £ 12,940,448 4,762,868 5,451,061 2022
2023 £ 145,543 (145,543) 158,711	2023 £ 19,886 (19,886) 39,525
158,711	39,525
2023 £ 13,058,432	2023 £ 13,058,432

5,457,018	5,845,996	4,762,868
5,737,454	5,440,950	5,451,061

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 2023 (CONT'D)

16 Allocation of the Net Assets

The net assets held for the various funds as at 31 August 2023 are as follows:-

	Fixed	Investments	Net Current	Long term	Total
	Assets		Assets/	(Liabilities)
			(Liabilities)
	£	£	£	£	£
Endowment Fund	17,095,887	13,286,973	-	-	30,382,860
Restricted Funds	-	30,722	(30,722)	-	-
Unrestricted Funds	15,700,707	2	1,476,358	(4,052,906)	13,124,161
School	32,796,594	13,317,697	1,445,636	(4,052,906)	43,507,021
Trading Subsidiary	689,183	(2)	(666,330)	-	22,851
Consolidated	33,485,777	13,317,695	779,306	(4,052,906)	43,529,872

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 purpose of which have been fulfilled.

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 2023 (CONT'D)

Balance Incoming 1 September Resources 2022 £ £ 17a Endowment Funds, including expendable endowments Capital Investment Fund 26,324,554 - James Allen's Bursary Fund 4,402,079 - 30,726,633 - 17b Restricted Funds James Allen's Bursary Fund 352,644 154,853 Development Fund - 268 Community Music Centre 654,243 940 1,006,887 156,061 17c Designated and Unrestricted Funds (School) Annual Fund - 271 James Allen's Bursary Fund 1,000,000 - General Reserve 8,673,971 26,600,963 9,673,971 26,601,234 17c Designated and Unrestricted Funds (Consolidated) Annual Fund - 271 James Allen's Bursary Fund 1,000,000 - General Reserve 8,655,686 27,596,395 9,655,686 27,596,666 Total (School) 41,407,491 26,757,295 Total (Consolidated) 41,389,206 27,752,727	Balance Incoming 1 September Resources 2022 £ £ 17a Endowment Funds, including expendable endowments Capital Investment Fund 26,324,554 - James Allen's Bursary Fund 4,402,079 - 30,726,633 - 17b Restricted Funds James Allen's Bursary Fund 352,644 154,853 Development Fund - 268 Community Music Centre 654,243 940 1,006,887 156,061 17c Designated and Unrestricted Funds (School) Annual Fund - 271 James Allen's Bursary Fund 1,000,000 - General Reserve 8,673,971 26,600,963 9,673,971 26,601,234 17c Designated and Unrestricted Funds (Consolidated) Annual Fund - 271 James Allen's Bursary Fund 1,000,000 - General Reserve 8,655,686 27,596,395 9,655,686 27,596,666 Total (School) 41,407,491 26,757,295 Total (Consolidated) 41,389,206 27,752,727	Resources Expended £ - -	Transfer Between Funds £ - -	Losses £ (239,128) (104,645)	Balance 31 August 2023 £ 26,085,426 4,297,434

30,726,633	-	-	-	(343,773)	30,382,860
352,644 - 654,243	154,853 268 940	(44,829) - -	(462,668) (268) (655,183)	- - -	- - -
1,006,887	156,061	(44,829)	(1,118,119)	-	-
	271 - 26,600,963	- - (24,269,163)	(271) - 1,118,390	- - -	- 1,000,000 12,124,161
9,673,971	26,601,234	(24,269,163)	1,118,119	-	13,124,161
		- - (25,223,459)	(271) - 1,118,390	- - -	- 1,000,000 12,147,012
9,655,686	27,596,666	(25,223,459)	1,118,119	-	13,147,012
41,407,491	26,757,295	(24,313,992)	-	(343,773)	43,507,021
41,389,206	27,752,727	(25,268,288)	-	(343,773)	43,529,872

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

18 Commitments under non-cancellable operating leases

	Other	Other
	2023	2022
Total Payable	£	£
Within 1 Year	22,948	122,485
Within 2 - 5 years	1,013	25,522
	23,961	148,007

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 Teachers’ Pension Scheme (‘the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,938,282 (2022 - £1,831,529) and at the year-end £232,889 (2022 - £223,606) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 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 ‘McCloud/Sargeant case’. This case has required the courts to consider cases regarding the implementation of the 2015 reforms to Public Service Pensions

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 Appeal’s 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 £322,628 (2022 - £320,177), being the contributions due for the year and at the year-end £48,429 (2022 - £38,309) was accrued in respect of contributions to these schemes.

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (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:-	2023	2022	2021
Due within one Year	25,606	54,228	78,720
Due after one year	9,289	4,610	197,047
Present Value of Provision	34,895	58,838	275,767
Reconciliation of opening and closing provision
Provision at start of year	58,838	275,767	350,862
Unwinding of discount factor (interest expense) *	2,009	1,561	1,703
Deficit contribution	(25,606)	(56,022)	(76,427)
Remeasurement - impact of any change in assumptions *	(346)	(2,593)	(371)
Prior period correction	-	-	-
Remeasurement - amendments to the contribution schedule *	-	(159,875)	-
Provision at year end	34,895	58,838	275,767
* Impacts on SOFA

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

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

Assumptions	2023	2022	2021
Rate of Interest	6.04%	4.46%	0.63%

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	2023 £'000 26 11 - - - - - - -	2022 £'000 26 26 11 - - - - - - -	2021 £'000
			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 Income / (Expenditure) Losses on Investments Investment Income Interest Receivable Interest Paid Investment Managers' Fees paid from Investment Pension Interest Expense / (Income) Depreciation Impairment and Loss on Disposal of Assets Debtors Movement Stock Movement Creditors Movement Advance Fees Discounts Advance Fees Discounts Reversed Net cash provided by operating activities	2023 £ 2,140,666 343,773 (366,303) (117,815) 126,183 82,932 1,663 1,375,896 61,344 (122,655) 325 921,993 61,776 6,258 4,516,036	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

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

21 Related party transactions

A trustee's daughter attended the School during this financial year. 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 meanstested bursaries or scholarships.

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

22 Comparative Figures

Unrestricted Funds £ - 1,627,013 19,734,260 1,401,786 1,963,504 221,511	Designated Funds £ 25,423 - - - - -	Restricted Funds £ 6,255 - - - - 96,935	Endowment Funds £ - - - - - -	2022 Total £ 31,678 1,627,013 19,734,260 1,401,786 1,963,504 318,446
24,948,074	25,423	103,190	-	25,076,687
435,787 1,735,915 22,058,528	- - -	- - 31,678	- - -	435,787 1,735,915 22,090,206
24,230,230	-	31,678	-	24,261,908
-	-	-	(1,123,963)	(1,123,963)
717,844 1,524 -	25,423 (844) -	71,512 (680) -	(1,123,963) - -	(309,184) - -
719,368	24,579	70,832	(1,123,963)	(309,184)
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)
8,495,696	1,159,990	1,006,887	30,726,633	41,389,206

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

Balance Incoming 1 September Resources 2021 £ £ 22 Comparative Figures (continued) Endowment Funds, including expendable endowments Capital Investment Fund 27,106,383 - James Allen's Bursary Fund 4,744,213 - 31,850,596 - Restricted Funds James Allen's Bursary Fund 281,812 102,510 Development Fund - 440 Community Music Centre 654,243 240 936,055 103,190 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 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 £ £ 22 Comparative Figures (continued) Endowment Funds, including expendable endowments Capital Investment Fund 27,106,383 - James Allen's Bursary Fund 4,744,213 - 31,850,596 - Restricted Funds James Allen's Bursary Fund 281,812 102,510 Development Fund - 440 Community Music Centre 654,243 240 936,055 103,190 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 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

23 Comparative Figures - Allocation of the Net Assets

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

Endowment Fund Restricted Funds Unrestricted Funds School Trading Subsidiary Consolidated		Fixed Assets £ 17,007,340 654,243 14,118,301		Investments £ 13,719,293 25,107 2		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		13,744,402 (2)		356,522 (682,888)		(4,473,317) -	41,407,491 -
	32,462,774			13,744,400		(326,366)		(4,473,317)	41,407,491

2023-08-31-accounts

JAMES ALLEN’S GIRLS’ SCHOOL

REPORT & ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2023

CONTENTS

JAMES ALLEN’S GIRLS’ SCHOOL

GOVERNORS, OFFICERS, ADDRESSES AND ADVISERS

Investment Manager

REPORT OF THE GOVERNORS

(Incorporating their Group Strategic Report)

For year ended 31 August 2023

Curriculum developments - Senior School

Enrichment in the curriculum

Exam results 2022-23

Higher Education & Careers

Staff CPD

OUR PEOPLE

Core Values

Empowering all individuals

Wellbeing

Equity, Diversity & Inclusion (EDI)

Personal, Social, Health and Economic Education (PSHCE)

OUR COMMUNITY

Outreach and Partnerships

Co-Curricular opportunities & achievements

Senior School

Junior School

OUR SUSTAINABILITY

Sustainability

Streamlined Energy and Carbon Reporting

Total Energy Use

Intensity Ratio

Bursary policy

Building

Online Space

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

Governing Body

Recruitment and Training of Governors

Organisational Management

Group Structure

GROUP STRATEGIC REPORT

Pupil Numbers and Fees

FINANCIAL REVIEW

Charitable Status

Financial Results

Companies (Miscellaneous Reporting) Regulations 2018

APPOINTMENT OF INDEPENDENT AUDITOR

E Jane Marshall

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2023

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED SUMMARY OF INCOME AND EXPENDITURE

JAMES ALLEN'S GIRLS' SCHOOL

COMPANY NUMBER: 6618970

CONSOLIDATED BALANCE SHEET

E Jane Marshall

Robert S Cunningham

PARENT ONLY BALANCE SHEET

Robert S Cunningham

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED CASHFLOW STATEMENT

YEAR ENDED 31 AUGUST 2023

1. Accounting Policies

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

1. Accounting Policies (continued)

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

1. Accounting Policies (continued)

Funds: The School has three types of funds:

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023

1. Accounting Policies (continued)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

5 Analysis of Expenditure

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2023 (CONT'D)

6 Net Income From Trading Activity of the Subsidiary