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J1741 A Report and Accounts YEAR ENDED 31 AUGUST 2024 Jags 144 East Dulwich Grove, London SE22 8TE james Allen'5 Girls, school is a company limtted by 8uarantee and registered in En8iand numiv 6618970. Registered charity mmber1124853.

JAMES ALLEN’S GIRLS’ SCHOOL

REPORT & ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

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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)

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

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

Former Governor of the London Academy of Excellence 2014-2017; Head of City of London 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, former 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) (Resigned effective 18 June 2024)

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

Executive Director and Chief Operating Officer at Diligenta Limited UK, a wholly owned subsidiary of 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 Shehla Husain BA (Hons) & MSc (Appointed effective 13 September 2024)

Senior Civil Servant (Home Office) leading on public protection. Previous experience of public inquiries, national resilience, supported housing and local government accountability across government departments. Served as Co Vice Chair of Keniston Housing Association. Former pupil at JAGS.

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.

Ms Sameera Khan LLB (Hons) (Appointed effective 15 October 2024)

UK and Australian qualified solicitor and senior leader with international experience of tech, commercial, cyber, privacy and regulated environments. Former pupil at JAGS.

Investment Manager

REPORT OF THE GOVERNORS

(Incorporating their Group Strategic Report)

For year ended 31 August 2024

James Allen’s Girls’ School (‘the School’ or ‘JAGS’ 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 2024 (‘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.

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REVIEW OF 2023-24

In December 2023, JAGS was named the London Independent School of the Year by the Sunday Times.

ACTIVITIES TO SUPPORT OUR AIMS AND OBJECTIVES

OUR LEARNING

Curriculum developments - Junior School

This year, we have enhanced our digital development programme with the introduction of 1:1 iPads for all pupils within Key Stage 2. This has been further enhanced by online safety training for pupils and their parents.

We have embedded our recently introduced and bespoke ‘Be Brilliant’ pastoral programme across the Junior School and we have also created a new learning skills programme called ‘Be a Brilliant Learner’, which highlights key learning skills to support all pupils become the best learners they can be.

Our CPD programme has focused particularly on high quality teaching and learning strategies, digital learning and pupil wellbeing. A key area of development has been an introduction of the ‘Path to Success’ methodology of teaching. A forward thinking, innovative approach to teaching and learning, ‘Path to Success’ is based on recent educational research. With collaboration and active approaches at its core, the techniques it embodies can be used to teach any skill or operation, and is particularly effective when teaching problem-solving and creative thinking.

Curriculum developments - Senior School

The curriculum remains a key strategic focus, and in 2023-24 the school community continued to work on the Complete Education Review. The aim is to continually review key areas of the school to ensure 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 from 2023-24 will be implemented for the academic year 2024-25. In September

2023 we launched a new timetable based on six periods of 50 minutes each day. 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. Students in Year 9 are offered a small level of choice to refine the number of subjects they study. This allows students the ability to selfdetermine the subjects they wish to spend more time studying.

During 2023-24, the focus for staff has been to developa digitally enabled curriculum in preparation for the launch of the schools 1:1 digital device project in September 2024. All staff have received intensive and bespoke Microsoft training from certified Microsoft educators. This has resulted in a complete review of pedagogy in all departments in preparation for the September 2024 launch.

Enrichment in the curriculum

During the academic year 2023-24 we have developed and delivered a new enrichment programme. The curated courses in Years 7, 8, 9 and 10 were 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. This has been enhanced with the JAGS skills curriculum; this is a set of demonstrable and measurable skills that students can record against activities to show how they are demonstrating and developing these skills. The 12 key skills JAGS were defined using available research on workplace readiness.

The curriculum for our A Level students is broadened through 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. We plan for the Sixth Form enrichment curriculum to become part of the Curriculum Plus offering to ensure the ‘golden thread’ of enrichment and workplace readiness runs throughout the Senior School.

Exam results 2023-24

In the Summer of 2024, JAGS’ students completed their A Level and GCSE exams. Senior School examination results were excellent this year. The proportion of entries awarded an A* at A Level was an impressive 35%, while 73% of students achieved an A or A® grade at A Level.

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The school’s GCSE results in 2024 were the best of any examined GCSE year under the 9-1 grading system. Especially noteworthy were the extremely high proportion of grade 9s achieved (57%), and the increased proportion of grades 7-

9 (equivalent to A and A* grades under the older grading regime). Ten students gained straight grade 9s across all their GCSEs, and more than a third of the cohort (36%) achieved an 8 or above in every subject.

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 15 students taking up places at Oxford and Cambridge, Il students studying medicine and 8 studying Law. Students apply for a diverse range of courses; new courses this year include Climate Science (Durham), Theatre: Writing, Directing and Performance (York), Chemical Engineering and Biotechnology (Cambridge) and Japanese and Economics (SOAS). Most JAGS students go on to university; this year 94% of students secured their firm choice university offer and 93% secured places at Russell Group universities.

Staff CPD

Professional development is central to JAGS’ commitment to our staff. 2023-24 saw a large-scale CPD programme focussed on digital skills. Staff have received new devices in preparation for 1:1 digital devices arriving for all students in Years 7 to 10 from September 2024.

This will change the way we teach. To ensure we leverage the power of these devices and use them to enhance learning, we have worked closely with partners such as TA Education and our external digital consultant to ensure we are in the best position possible. This has coincided with huge advances in Generative Al. We have taken a balanced approach, training staff and encouraging exploration of the possibilities of LLMs such as ChatGPT, whilst safeguarding our students from the current unregulated landscape of Generative Al. This is a dynamic and fast-moving technology and the possibilities for enhancing learning are there, despite how problematic it is currently in ‘stealing the struggle’ of learning. In 2023-24, JAGS supported five Initial Teacher Training placements alongside supporting three first year and five second year colleagues in the rigorous two-year ECT (Early Career Teacher) programme. We also supported colleagues completing a PGCE top-up course and a Level 6 Diploma in ‘Careers Guidance and Development’.

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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 days, while 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 our core values across a happy and cohesive community.

The Junior School formally launched our ‘Be Brilliant’ pastoral programme which centres around six core values: Be Kind, Be Respectful, Be Brave, Be Inclusive, Be Resilient and Be Authentic. We have worked hard to bring these to life across our curricular and co-curricular provision. This has included a wide range of pastoral focused workshops such as MiniFirst Aid (Year 6), Anti-Bullying Workshops, a visit from our community police officer PC Grant, a visit from the Fire Service (Year 5) and teambuilding workshops ahead of moving into their new year group. We have continued to develop our Inspiring Females programme with a range of interesting female speakers including a former Olympian, an opera singer, a dentist and a surgeon.

Empowering all individuals

Student voice in the form of the Senior School Council became strongly embedded this year, and there are now separate council meetings for KS3 and KS4 students, to allow the voice of all to be heard. The Head Girl team conveyed ideas upwards from students to school leaders, modelling respectful discourse, and advocating such causes as increasing charitable action, amplifying student voice within the community and promoting peer-mentoring with revision strategies and tips. Sixth Formers led on practical ways to build an inclusive culture with assemblies on kindness and managing conflict with care. Students across the school fed their ideas into significant changes to the school such as the renovation of the Sixth Form centre.

Pupil voice has continued to sit at the forefront of decision-making in the Junior School. Our School Council and Eco Committee meet weekly with the aim of ensuring the voice of all pupils is heard in making decisions about the life of our school. Additionally, our Food Advisory Committee enjoyed meeting with our catering team on a termly basis and were hugely motivated by their involvement with the introduction of the trial ‘taster tables’ at lunchtime.

Wellbeing

Supporting physical and mental health is central to JAGS’ strategic vision for an integrated community of students and staff. Specific moments continued to highlight wellness through the year. A student-focused Wellbeing Week highlighted the individual and collective benefit of engaging in shared activities such as Just Dance, bracelet making, indoor games and biscuit decorating. As a result, and in response to student voice, one of our counsellors has established a weekly wellbeing session for students to join together in mindful activity.

In the Junior School, our newly established Wellbeing Committee offers pupils the opportunity to regularly raise and discuss areas where the school can improve and develop pupil safety and wellbeing. This year, pupils revised our school rules to create our JAGS Junior School Commitment. Supported with visual reminders around the school, our Commitment guides our pupils in making the best decisions for themselves and for others.

Equity, Diversity & Inclusion (EDI)

The Senior School’s Equity & Respect Forum met regularly to focus on specific EDI matters, and its feedback and suggestions fed up to the School Council as well as enacting change in its own capacity. The Multicultural Evening was the most successful yet, involving over one hundred students. Senior School students also made recordings of the correct pronunciation of their names to guide teachers moving forward.

The whole-school assembly programme continued to give a platform to students in the school from minority backgrounds. Students and staff presented on the importance of commemorating Stephen Lawrence and the Windrush Generation, and we also learnt about the history of Pride Month and how to be an effective ally.

fundraiser for their chosen charity ‘The Daisy Chain Project’ ~~(https://daisychainproject.co.uk/)~~ as part of Neurodiversity

OUR COMMUNITY

Outreach and Partnerships

The Saturday Literacy Scheme remained a stalwart of our outreach programme, with 49 Year 3 pupils from twelve local primary schools attending a two term Saturday morning programme offering support and encouragement with their literacy. 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. Sixth Formers volunteered in local primary schools offering either academic mentoring or maths support on a year-long programme.

We were excited to launch the first of our community music events, hosting pupils from two local primary schools - Goose Green and Lyndhurst. The music extravaganza was devised by our former Director of Music, Peter Gritton, in his present role as lead of JAGS Community Music. The end-of-project workshop and performance of the world premiere of Peter's 'The Birthday Party’ saw 85 Year 5 students playing on their own portable classroom percussion. Students were captivated by the sight and sound of the magnificent orchestral percussion and the Primary School teachers commented on how enthralled the students were to be involved in the whole project - from the workshop sessions in their own schools that ran from February right through to the final performance.

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 include an apprenticeship fair for students and parents, the student voice project on Neurodiversity, training aspiring leaders on Al, a photography competition for the whole SSLP community and an immersive law event for students to re-enact an Old Bailey trial. Senior leaders from the school also contributed to training programmes for aspiring leaders across Southwark schools. Our Houses led the way in fundraising for Breast Cancer Now, World Children's Fund, Pancreatic Cancer UK and Beder Youth Mental Health Charity, all charities nominated and voted for by students. In addition, students have donated to the Brixton and Norwood foodbank, and raised money for Little Village, the Whitechapel Centre, AFFCAD, Ukraine Crisis Appeal (British Red Cross), Air Ambulances UK and SWAN (local foodbanks and soup kitchens).

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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 ll to 13 staged a joint production of 'Whispers from the Wardrobe’ with Dulwich College, an original script written by Joanna Billington and Will Feasey focusing on the history of Drury Lane Theatre. 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 company for Year 9 who, as a result of the additional 50-minute lesson a week that the new timetable provided, were able to perform ‘Alice Diamond and the Forty Elephants’ to great success. Additionally, Year 12 students were able to develop their directing and choreography skills by producing dance, musical theatre and drama extracts as part of our House Performing Arts Celebration. The year finished with the Junior Production of 'The Little Mermaid’; the 53 strong cast being supported by a backstage crew of 30 students all from Year 7 and 8.

The school reverberated with the sounds of our various Music groups and ensembles in 2023-24. All instrumentalists and vocalists are encouraged to join a group, and the department ran 36 ensembles last year. Particular highlights of the year included our large-scale concerts, especially our Christmas Concert at Southwark Cathedral and our Spring Choral and Orchestral Concert at Cadogan Hall.

Sport has seen several notable successes during 2023-24. A Year 13 student was crowned the Public Schools Fencing National Champion, the Under 13 football team have won both the London Cup and the Sisters n Sport 11 aside Plate National Champions and they qualified for the ISFA 7 aside National Finals, finishing a very creditable fourth place in their group. The Under 18 tennis team were crowned Surrey Champions for the second year in a row and the Sixth Form Biathlon team retained their national title. The JAGS’ cheerleading team improved on their performance from last year, finishing in third place at this year’s National Cheerleading Schools Finals. The Under 16 Rugby team won both the London Schools League and also the South East Touch Championships. The Year 9 and 10 athletics team have qualified for the English Schools National Finals. The Year 9 and 10 Cross Country team also finished as Runners Up at the Cross-Country National Finals in December.

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Our strategic aim remains to develop sport and activity for all pupils at all levels of participation. This year has seen us play more fixtures in more sports than ever before as we continue to strive for both excellence and high performance. Over 100 Year 7 pupils have played in a competitive school fixture against another school and over 90% of Year 7 pupils have attended at least one PE co-curricular club on arregular basis. Retention rates in individual sports have also remained high; pupils representing the school in competitive fixtures remain at well over 70% in both Year 8 and Year 9.

The Co-Curricular Programme has continued to flourish during 2023-24, with over 100 clubs on offer each week. Some of the most popular clubs are led by Sixth Formers, enabling them to develop valuable leadership skills.

Junior School

We have continued to educate our pupils about the importance of caring for the environment and for each other.

We have welcomed many excellent speakers as part of our ‘Inspiring Females’ talk series, including an award-winning CEO and Equity Champion, a maxillofacial surgeon and a professional soprano. Through our Careers Week, we welcomed speakers in a range of fields including Medicine, Science and Media.

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We have continued to work regularly with local schools for both co-educational collaboration opportunities and to share our exciting events with the wider community. We have continued to work with Dulwich College Junior School on collaboration events and we hosted a Year 6 Coding and Robotics workshop, a Drama workshop, an Eco workshop and a Sports Afternoon here at JAGS for pupils from both schools. We hosted the Year1 Big Sing, in which we welcomed pupils from five local primary school to join us for a morning of music in our Vaughan Williams Auditorium. We took part in the annual Junior Symposium with Dulwich College as well as the Foundation Schools’ Orchestral Concert. We also welcomed pupils from local schools to join us for talks by children’s television presenters and children’s authors.

Pupil voice continues to be incredibly important to us, and our pupils have taken part in consultative roles including our new Wellbeing Committee, our Food Advisory Committee and our Eco Team work who promoted our Walk to School Week which was well-supported by our pupils.

Our co-curricular offer has continued to develop with a wide range of engaging clubs including a new dance club.

Pupils took a range of ABRSM and English Speaking Board exams, achieving excellent results. They also took part in school trips to places of interest including a day trip to Lille, trips to the Postal Museum, Shakespeare’s Globe, the Dulwich Picture Gallery, the Science Museum, the London Mithraeum & Roman Amphitheatre and the Barbican, plus residential trips to Sussex and Dorset as well as a ski trip to France.

In Drama, Year1 pupils performed ‘Pirates and Mermaids’, Year 2 pupils performed Cinderella Rockerfella, while pupils in Year 4 performed ‘The Moon Thieves’ and Year 6 pupils performed Oliver, The Musical in our Prissian Theatre.

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

Our charity work this year has included our annual Movie Night in aid of the Jane Goodall Institute, a dress up day for the Brain Tumour Charity, a Christmas Jumper Day for Save the Children and a coat collection for Wrap Up London in addition to many other worthwhile causes.

OUR SUSTAINABILITY

Sustainability

Whilst last year was focussed on gathering baseline data and considering the areas that most needed improving this year, we have moved to further engaging our staff body to support us with behavioural changes that will make significant differences to our carbon footprint. In the early part of 2023-24, the new Staff Sustainability Working Group was formed. This group is made up of staff from all areas of the school and departments and they meet regularly to identify ways they can promote sustainability initiatives amongst the staff but to also consider larger projects. To support our staff engagement, we have also included training to ensure that everyone fully understands the challenges we are facing and what part we can all play.

Our pupils continue to be very engaged with sustainability and have worked with our Botany Gardens team to get a plant into every classroom, propagating from scratch and identifying a plant rep for each form group. Our composting endeavours have continued and we have now extended our programme to the Pre-Prep meaning that all food waste from our kitchen preparation areas is composted rather than going to landfill.

This year saw JAGS awarded the Gold accreditation by TfL for recognition of our commitment to active travel and also named the Winner in the Sustainability category for School House Awards.

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 2024 were as follows:

Total Energy Use 4,485,737 kWh Total Greenhouse Gas Emissions (mandatory & voluntary) 619.4 tCO2 Total Students 1,202 Intensity Ratio 0.52 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 of
Measurement|FY 1 Sep 2021 to 31
Aug 2022|FY 1 Sep 2022to 31
Aug 2023|FY 1 Sep 2023to 31 |
Aug 2024|| Variance (2024 vs
2023)| |---|---|---|---|---| |Energy Use|4,914.8 MWh|4,837.8MWh|4,485.7MWh|7.3% decrease| |Greenhouse Gas
Emissions|674.1 tCO2|665.0 tCO2|619.4 tCO2|6.9% decrease| |Intensity Ratio|0.59tCO2 per
student|0.57tCO2 per
student|0.52tCO2 per
student|9.6% decrease|

ENCASS have used the GHG Protocol Corporate Accounting and Reporting Standard. Further emission factors were used from UK Government’s GHG Conversion Factors for Company Reporting 2024.

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 86% of all fees for the 149 pupils whose families received them in the 2023-24 academic year with 102 pupils receiving at least 90% support towards fees and 75 receiving 100% support.

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 2023-24 was 149. A total of £2.9m in fee remission was awarded in 2023-24.

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 2023-24, the School continued its commitment to classroom renovations. Over the summer of 2024, two classrooms in the Prep and four specialist Art classrooms in the Senior School were renovated. The new rooms in the Prep are contemporary classrooms with built-in teaching walls to provide storage and functionality, whilst the Art rooms were designed to offer the best possible use of space and light.

Online Space

The biggest transformation for 2023-24 is our digital space. During Easter and Summer 2024, the entire wired network was redesigned to provide back-up and resilience, with all links upgraded to provide increased speed and functionality. Twenty years of organic IT growth has been pruned back to provide us with a sophisticated and robust wired network that will form the foundations for the new 1:1 digital devices that are being launched in September 2024 for students.

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. No Governor or person connected with a Governor received any benefit from either means-tested 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 Junior School, the Director of Operations, the Director of Finance, the Senior Deputy Head and the Deputy Head (Academic).

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

The Head ofJAGS, the Head ofJunior 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 ofJunior 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 1,202 (2022-23: 1,167), being 898 (2022-23: 866) in the Senior School which includes 213 (202223: 200) in the Sixth Form and 304 (2022-23: 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, to 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 2023-24 before the deduction of any means-tested bursaries and scholarships were £6,705 per term in the Junior School (a year on year increase of 7.5%) and £7,575 in the Senior School (an increase of 7.5%).

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 in 2023-24, 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 2023-24 the net surplus of the Charity amounted to £4,905k (2022-23: £2,141k). In 2023-24, investment revaluation was a gain of £1,646k compared to a loss of £344k in 2022-23. School fees accounted for 75.5% of total School income (2022-23: 76.2%). 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 £1.8m (2022-23: £1.7m) 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 61% (2022-23: 67%) 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 £467k (2022-23: Surplus of £477k) excluding the licence fee of £212k (2022-23: £197k) was made. The operating profit margin has reduced by 2% to 21% 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-annually.

The school provides various support mechanisms to promote the wellbeing of employees. These include a confidential Employee Assistance Programme, staff wellbeing days, 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

On 18 November 2024, the Charity’s auditor changed its name from haysmacintyre LLP to HaysMac LLP. Having indicated their willingness, HaysMac LLP had been re-appointed as independent auditor to the Charity for the year ending 31 August 2024.

4 December 2024

Dr E Jane Marshall

12 December 2024

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2024

Unrestricted Funds £ 67,802 1,815,325 23,625,172 2,999,052 2,175,104 271,913	Designated Funds £ - - - - - -	Restricted £ 244,894 - - - - 90,734	Endowment £ - - - - - -	2024 Total £ 312,696 1,815,325 23,625,172 2,999,052 2,175,104 362,647	2023 Total £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303

30,954,368	-	335,628	-	31,289,996	28,407,464
734,248 1,708,632 25,464,247	- - -	- - 123,726	- - -	734,248 1,708,632 25,587,973	567,319 1,915,297 23,440,409
27,907,127	-	123,726	-	28,030,853	25,923,025
-	-	-	1,646,198	1,646,198	(343,773)
3,047,241 240	- -	211,902 (240)	1,646,198 -	4,905,341 -	2,140,666 -
3,047,481	-	211,662	1,646,198	4,905,341	2,140,666
11,987,022 3,047,481	1,159,990 -	- 211,662	30,382,860 1,646,198	43,529,872 4,905,341	41,389,206 2,140,666
15,034,503	1,159,990	211,662	32,029,058	48,435,213	43,529,872

All amounts relate to continuing operations. All gains and losses recognised in the year are included above. The Notes on Pages 34 - 52 form part of the financial statements.

Please see Notes 22 and 23 for comparatives.

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED SUMMARY OF INCOME AND EXPENDITURE

YEAR ENDED 31 AUGUST 2024

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		2024 Unrestricted and Restricted Funds £ 312,696 1,815,325 23,625,172 2,999,052 2,175,104 362,647 31,289,996 734,248 1,708,632 25,587,973 28,030,853 3,259,143 3,259,143	2024 Unrestricted and Restricted Funds £ 312,696 1,815,325 23,625,172 2,999,052 2,175,104 362,647 31,289,996 734,248 1,708,632 25,587,973 28,030,853 3,259,143 3,259,143		2023 Unrestricted and Restricted Funds £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303	2023 Unrestricted and Restricted Funds £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303	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

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

The Notes on Pages 34 - 52 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 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	£ £ 32,350,041 2,203,034 34,553,075 17,886,168 52,439,243 5,694 1,170,723 13,411,873 14,588,290 7,712,287 939,265 8,651,552 5,936,738 58,375,981 1,595,415 76,163 8,269,190 - (9,940,768) 48,435,213 32,029,058 211,662 16,194,493 48,435,213 31 August 2024	£ £ 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	£ £ 31,926,574 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
			46,803,471 779,307
			47,582,778 (4,052,906)
			43,529,872
			30,382,860 - 13,147,012
			43,529,872

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 2024 is a surplus of £4.9m (2023 - £2.1m)

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

Dr E Jane Marshall

Dr Jane Marshall Governor Date: 4 December 2024

Mr Robert Cunningham Governor Date: 4 December 2024

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	£ £ 31,885,701 2,014,483 33,900,184 17,886,170 51,786,354 1,654,409 13,241,721 14,896,130 7,381,025 939,265 8,320,290 6,575,840 58,362,194 1,595,415 76,163 8,269,190 - (9,940,768) 48,421,426 32,029,058 211,662 16,180,706 48,421,426 31 August 2024	£ £ 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	£ £ 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
			46,114,291 1,445,636
			47,559,927 (4,052,906)
			43,507,021
			30,382,860 - 13,124,161
			43,507,021

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

Dr E Jane Marshall

Dr Jane Marshall Governor Date: 4 December 2024

Mr Robert Cunningham Governor Date: 4 December 2024

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED CASHFLOW STATEMENT YEAR ENDED 31 AUGUST 2024

Net Cash Flow from Operating Activities Net cash provided by operating activities Cashflows from Investing Activities Investment Income Received Interest Receivable Pension Deficit Repaid Buildings (Improvements and New Build) Purchase of other Tangible Fixed Assets Investment - Repayment of Endowment Funds Cashflows from Financing Activities Advanced Fees - New Contracts Advanced Fees - Amounts Utilised and Repaid Loan Repaid Interest Paid 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 5,520,406 362,647 379,315 (25,591) (1,690,564) (936,782) 9 (3,000,000) (4,910,975) 9,925,239 (891,604) (874,885) (101,728) 8,057,022 8,666,453 At 1 September Other 2023 Cashflows Changes £ £ £ 1,745,420 7,166,453 - 3,000,000 1,500,000 - 4,745,420 8,666,453 - 869,797 (869,797) 939,265 1,020,516 - (944,353) 1,890,313 (869,797) (5,088) 31 August 2024	£ £ 4,516,036 366,303 117,815 (25,606) (1,802,404) (657,837) - (2,102,306) 1,083,617 (849,243) (822,275) (126,183) (613,507) 1,800,223 At 1 August 2024 £ 8,911,873 4,500,000 13,411,873 939,265 76,163 1,015,428 31 August 2023	£ £ 4,516,036 366,303 117,815 (25,606) (1,802,404) (657,837) - (2,102,306) 1,083,617 (849,243) (822,275) (126,183) (613,507) 1,800,223 At 1 August 2024 £ 8,911,873 4,500,000 13,411,873 939,265 76,163 1,015,428 31 August 2023
			1,800,223

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024

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 2024

(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 2024 (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:

where the capital is held in perpetuity to generate distributable income.
where the purpose for which the funds may be used has been restricted by donors.

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 2024 (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. During the year, the School changed its accounting policy by spreading the discounts on Fees Composition Scheme over the life of the contract. In previous years, the discounts were recognised in the year the contract was entered into and the receipts of the discounted fees.

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 2024 (CONT'D)

2 School Fees Net Tuition Fees Bursary Fee Reductions James Allen's Saturday School for the Performing Arts Bursaries paid by restricted funds Bursary and other awards were paid to149students (2023 - 142) 3 Other Ancillary Income Registration Fees Billing Interest, Bank Interest and Other After School Club Income Insurance Commissions School Trips and Activities income - gross Catering Income 4 Expenditure Other expenditure includes:- Auditor's remuneration - Audit - Other Operating Leases Depreciation and Amortisation Impairment Staff costs:- Wages and salaries - Teaching Staff Wages and salaries - Support Staff Social security costs Pension contributions - Teaching Staff Pension contributions - Support Staff	2024 £ 26,219,032 (2,953,895) 483,761 23,748,898 (123,726) 23,625,172 £ 141,175 462,019 39,817 27,727 1,355,313 973,001 2,999,052 £ 28,450 12,868 113,906 1,547,870 - £ 10,312,892 3,661,480 1,413,770 2,174,615 407,504 17,970,260	2023 £ 23,682,403 (2,602,343) 438,415
		21,518,475 (44,829)
		21,473,646
		£ 102,200 181,440 40,158 32,618 839,380 852,546
		2,048,342
		£ 26,550 7,807 113,906 1,375,896 61,344
		£ 9,689,339 3,324,185 1,323,111 1,938,282 322,628
		16,597,545

The average number of employees in the year was 423 (2023 - 387) of whom 218 (2023 - 212) were teaching staff and 80 (2023 - 65) 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 (2023 - £791). During the year termination payments made amounted to £76,225 (2023 - £10,956).

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

£60,000 were:-	2024	2023
£60,001 - £70,000	29	28
£70,001 - £80,000	20	20
£80,001 - £90,000	8	2
£90,001 - £100,000	3	2
£100,001 - £110,000	2	1
£120,001 - £130,000	-	1
£130,001 - £140,000	1	-
£210,001 - £220,000	-	1
£220,001 - £230,000	1	-
In addition £1,125,563 (2023 - £889,174) was paid in pensions payments in respect of the 64 (2023 - 55)
employees above.
Aggregate employee-benefits of Key management Personnel,	2024	2023
including Employers' National Insurance	£1,127,496	£1,074,932

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

5 Analysis of Expenditure Fund Raising Publicity Charitable Expenditure Teaching Welfare Premises Awards Total Other Trading Subsidiary Finance Costs Total Expenditure		Staff Costs £ 151,899 286,313 16,009,218 118,910 297,275 118,910 16,544,313 975,844 11,891 987,735 17,970,260		Direct Costs £ 57,292 220,415 2,274,030 1,734,373 3,017,068 589,116 7,614,587 628,062 (10,933) 617,129 8,509,423	Depreciation and Write-off £ 5,237 13,092 387,510 20,946 1,020,617 - 1,429,073 103,768 - 103,768 1,551,170	2024 Total £ 214,428 519,820 18,670,758 1,874,229 4,334,960 708,026 25,587,973 1,707,674 958 1,708,632 28,030,853	2023 Total £ 111,689 455,630
							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

Analysis of Expenditure (2022-23 Comparative)

Fund Raising Publicity Charitable Expenditure Teaching Welfare Premises Awards Total Other Trading Subsidiary Finance Costs Total Expenditure		Staff Costs £ 77,688 258,437 14,870,670 107,507 268,767 107,507 15,354,451 896,218 10,751 906,969 16,597,545		Direct Costs £ 31,797 188,378 1,741,184 1,615,623 2,902,910 502,214 6,761,931 610,620 295,513 906,133 7,888,239	Depreciation and Impairment £ 2,204 8,815 337,177 13,223 973,627 - 1,324,027 102,195 - 102,195 1,437,241	2023 Total £ 111,689 455,630
						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

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (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 2024 are summarised below. At 31 August 2024, the Subsidiary owed £511,841 to the School (2023 - £488,940).

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	2024 £ 2,175,104 (1,009,785) 1,165,319 (697,889) 467,430 (211,632) 255,798 - - 255,798 (264,862) 22,852 13,788 £ £ 652,892 204,001 (843,103) (639,102) 13,790 2 13,788 13,790 31 August 2024	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	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
			22,854
			2 22,852
			22,854

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

7 Fixed Assets - Buildings Consolidated Cost Balance at 1 September 2023 Additions Disposals Write-off Transfers Balance at 31 August 2024 Depreciation Balance at 1 September 2023 Charge for year Balance at 31 August 2024 Net Book Value at 31 August 2024 Net Book Value at 31 August 2023	Buildings Improvements £ 33,082,653 270,080 (4,299) (7,878) 997,908 34,338,464 11,248,457 768,201 12,016,658 22,321,806 21,834,196		Sports and Grounds Complex £ 7,660,117 - - - - 7,660,117 3,205,910 153,202 3,359,112 4,301,005 4,454,207		Freehold Property £ 5,777,095 - - - - 5,777,095 1,731,368 115,542 1,846,910 3,930,185 4,045,727	Construction in Progress £ 1,653,788 1,420,484 - - (1,215,882) 1,858,390 61,344 - 61,344 1,797,046 1,592,444	Total £ 48,173,653 1,690,564 (4,299) (7,878) (217,974)
							49,634,066
							16,247,079 1,036,945
							17,284,024
							32,350,042
							31,926,574

At 31 August 2024, there were no outstanding contractual commitments for further capital expenditure (2023 - £84,023). The transfers relate mainly to the renovation works at the Holst Hall which completed during the current financial year. The balance under Construction in Progress is for renovation work at the Sixth Form Centre, Art Rooms and the Preparatory School Classrooms.

Fixed Assets - Buildings School Cost Balance at 1 September 2023 Additions Disposals Write-off Transfers Balance at 31 August 2024 Depreciation Balance at 1 September 2023 Charge for Year Balance at 31 August 2024 Net Book Value at 31 August 2024 Net Book Value at 31 August 2023	Buildings Improvements £ 31,926,612 226,370 (4,299) (7,878) 997,908 33,138,713 10,581,742 699,506 11,281,248 21,857,465 21,344,870		Sports and Grounds Complex £ 7,660,117 - - - - 7,660,117 3,205,910 153,202 3,359,112 4,301,005 4,454,207		Freehold Property £ 5,777,095 - - - - 5,777,095 1,731,368 115,542 1,846,910 3,930,185 4,045,727	Construction in Progress £ 1,653,788 1,420,484 - - (1,215,882) 1,858,390 61,344 - 61,344 1,797,046 1,592,444	Total £ 47,017,612 1,646,854 (4,299) (7,878) (217,974)
							48,434,315
							15,580,364 968,250
							16,548,614
							31,885,701
							31,437,248

At 31 August 2024, there were no outstanding contractual commitments for further capital expenditure (2023 - £29,355). The transfers relate mainly to the renovation works at the Holst Hall which completed during the current financial year. The balance under Construction in Progress is for renovation work at the Sixth Form Centre, Art Rooms and the Preparatory School Classrooms.

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

8 Consolidated Cost Balance at 1 September 2023 Additions Transfers Balance at 31 August 2024 Depreciation Balance at 1 September 2023 Charge for year Balance at 31 August 2024 Net Book Value at 31 August 2024 Net Book Value at 31 August 2023 Fixed Assets - Vehicles and Equipment		Computer Equipment £ 2,446,508 688,258 - 3,134,766 1,552,533 274,558 1,827,091 1,307,675 893,975		Motor Vehicles £ 40,623 - - 40,623 40,623 - 40,623 - -		Other Equipment £ 2,798,606 248,524 217,974 3,265,104 2,133,378 236,367 2,369,745 895,359 665,228		Total £ 5,285,737 936,782 217,974
								6,440,493
								3,726,534 510,925
								4,237,459
								2,203,034
								1,559,203

At 31 August 2024, there were no outstanding contractual commitments for further capital expenditure (2023 - £70,127). The transfers relate mainly to the equipment as part of the renovation works at the Holst Hall which completed during the current financial year.

Fixed Assets - Vehicles and Equipment School Cost Balance at 1 September 2023 Additions Transfers Balance at 31 August 2024 Depreciation Balance at 1 September 2023 Charge for year Balance at 31 August 2024 Net Book Value at 31 August 2024 Net Book Value at 31 August 2023		Computer Equipment £ 2,396,148 677,278 - 3,073,426 1,521,024 266,046 1,787,070 1,286,356 875,124		Motor Vehicles £ 40,623 - - 40,623 40,623 - 40,623 - -		Other Equipment £ 2,395,273 235,737 217,974 2,848,984 1,911,051 209,806 2,120,857 728,127 484,222		Total £ 4,832,044 913,015 217,974
								5,963,033
								3,472,698 475,852
								3,948,550
								2,014,483
								1,359,346

At 31 August 2024, there were outstanding no contractual commitments for further capital expenditure (2023 - £70,127). The transfers relate mainly to the equipment as part of the renovation works at the Holst Hall which completed during the current financial year.

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

9 Investments Valuation at 1 September 2023 Market value adjustment Repayment of Endowment Funds Fees paid 2024 Gains on Investments Valuation at 31 August 2024 (Bid Price) UK Fixed Interest UK Equities Overseas Equities Property Infrastructure Cash Consolidated Shares in Subsidiary School Historical Cost at 31 August 2024	Shares In Subsidiary £ 2 - - - - 2 - - - - - - - 2 2 2		Restricted Funds £ 30,722 16,155 - - 3,332 50,209 5,834 2,687 33,894 1,449 3,529 2,816 50,209 - 50,209 45,887		Endowment Fund £ 13,286,973 - 3,000,000 (93,880) 1,642,866 17,835,959 2,072,509 954,430 12,040,289 514,888 1,253,459 1,000,384 17,835,959 - 17,835,959 16,346,394		Total £ 13,317,697 16,155 3,000,000 (93,880) 1,646,198

							17,886,170
							2,078,343 957,117 12,074,183 516,337 1,256,988 1,003,200
							17,886,168 2
							17,886,170
						16,392,283

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

10 Debtors and Prepayments

Debtors and Prepayments
Due within One Year Tuition Fees and Disbursements Prepayments Other Debtors Amount due from Subsidiary Company	Consolidated 2024 2023 £ £ 311,799 240,527 407,658 403,470 451,266 211,808 - - 1,170,723 855,805	School 2024 2023 £ £ 311,799 240,527 380,503 389,387 450,266 209,316 511,841 488,940 1,654,409 1,328,170
			1,328,170

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (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 2024 2023 £ £ 106,456 84,442 103,000 86,800 680,035 636,908 361,621 445,140 915,450 970,087 2,989,924 744,523 92,885 81,330 473,259 162,524 1,832,758 561,118 10,581 25,606 146,318 158,711 7,712,287 3,957,189	School 2024 2023 £ £ 106,456 84,442 103,000 86,800 659,898 614,835 337,711 437,545 829,042 888,990 2,989,924 744,523 15,497 14,777 473,259 162,524 1,832,758 561,118 10,581 25,606 22,899 39,525 7,381,025 3,660,685	School 2024 2023 £ £ 106,456 84,442 103,000 86,800 659,898 614,835 337,711 437,545 829,042 888,990 2,989,924 744,523 15,497 14,777 473,259 162,524 1,832,758 561,118 10,581 25,606 22,899 39,525 7,381,025 3,660,685
			3,660,685

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 2024 2023 £ £ - - - 72,768 76,163 947,748 76,163 1,020,516 939,265 869,797 939,265 869,797 1,015,428 1,890,313		School 2024 2023 £ £ - - - 72,768 76,163 947,748 76,163 1,020,516 939,265 869,797 939,265 869,797 1,015,428 1,890,313	School 2024 2023 £ £ - - - 72,768 76,163 947,748 76,163 1,020,516 939,265 869,797 939,265 869,797 1,015,428 1,890,313
					1,020,516
					869,797
					869,797
					1,890,313

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (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)	2024 £ 1,136,193 4,352,899 2,780,098 8,269,190 2,989,924 11,259,114	2023 £ 198,150 820,190 610,261
		1,628,601 744,523
		2,373,124

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

£ 9,925,239 (63,150) (154,756)	£ 1,083,617 (43,182) 61,776	£ 2,070,716 1,102,211 (806,061) 6,258 2,373,124 School 2023 £ 19,886 (19,886) 39,525 39,525 School 2023 £ 13,058,432 5,845,996 5,440,950 2023
2024 £ 158,711 (158,711) 146,318	2024 £ 39,525 (39,525) 22,899
146,318	22,899
2024 £ 16,882,968	2024 £ 16,882,968

15,178,138	15,518,829	5,845,996
8,610,678	8,279,416	5,440,950

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 2024 (CONT'D)

16 Allocation of the Net Assets

The net assets held for the various funds as at 31 August 2024 are as follows:-

	Fixed	Investments	Net Current	Long term	Total
	Assets		Assets	(Liabilities)
			(Liabilities)
	£	£	£	£	£
Endowment Fund	14,193,099	17,835,959	-	-	32,029,058
Restricted Funds	-	50,209	161,453	-	211,662
Unrestricted Funds	19,707,085	2	6,414,387	(9,940,768)	16,180,706
School	33,900,184	17,886,170	6,575,840	(9,940,768)	48,421,426
Trading Subsidiary	652,891	(2)	(639,102)	-	13,787
Consolidated	34,553,075	17,886,168	5,936,738	(9,940,768)	48,435,213

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 2024 (CONT'D)

Balance Incoming 1 September Resources 2023 £ £ 17a Endowment Funds, including expendable endowments Capital Investment Fund 26,085,426 - James Allen's Bursary Fund 4,297,434 - 30,382,860 - 17b Restricted Funds James Allen's Bursary Fund - 323,244 Bench and Playground Equipment - 12,144 Community Music Centre - 240 - 335,628 17c Designated and Unrestricted Funds (School) James Allen's Bursary Fund 1,000,000 - General Reserve 12,124,161 29,255,758 13,124,161 29,255,758 17c Designated and Unrestricted Funds (Consolidated) James Allen's Bursary Fund 1,000,000 - General Reserve 12,147,012 30,954,368 13,147,012 30,954,368 Total (School) 43,507,021 29,591,386 Total (Consolidated) 43,529,872 31,289,996	Balance Incoming 1 September Resources 2023 £ £ 17a Endowment Funds, including expendable endowments Capital Investment Fund 26,085,426 - James Allen's Bursary Fund 4,297,434 - 30,382,860 - 17b Restricted Funds James Allen's Bursary Fund - 323,244 Bench and Playground Equipment - 12,144 Community Music Centre - 240 - 335,628 17c Designated and Unrestricted Funds (School) James Allen's Bursary Fund 1,000,000 - General Reserve 12,124,161 29,255,758 13,124,161 29,255,758 17c Designated and Unrestricted Funds (Consolidated) James Allen's Bursary Fund 1,000,000 - General Reserve 12,147,012 30,954,368 13,147,012 30,954,368 Total (School) 43,507,021 29,591,386 Total (Consolidated) 43,529,872 31,289,996	Resources Expended £ - -	Transfer Between Funds £ - -	Losses £ 1,234,319 411,879	Balance 31 August 2024 £ 27,319,745 4,709,313

30,382,860	-	-	-	1,646,198	32,029,058
- - -	323,244 12,144 240	(123,726) - -	- - (240)	- - -	199,518 12,144 -
-	335,628	(123,726)	(240)	-	211,662
	- 29,255,758	- (26,199,453)	- 240	- -	1,000,000 15,180,706
13,124,161	29,255,758	(26,199,453)	240	-	16,180,706
		- (27,907,127)	- 240	- -	1,000,000 15,194,493
13,147,012	30,954,368	(27,907,127)	240	-	16,194,493
43,507,021	29,591,386	(26,323,179)	-	1,646,198	48,421,426
43,529,872	31,289,996	(28,030,853)	-	1,646,198	48,435,213

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

18 Commitments under non-cancellable operating leases

	Other	Other
	2024	2023
Total Payable	£	£
Within 1 Year	439,129	97,037
Within 2 - 5 years	682,962	183,304
	1,122,091	280,341

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 £2,174,615 (2023 - £1,938,282) and at the year-end £275,137 (2023 - £232,889) was accrued in respect of contributions to this scheme.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023.

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation has valued the ‘greater value’ benefits for groups of relevant members. The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

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 21%. 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 £407,504 (2023 - £322,628), being the contributions due for the year and at the year-end £51,656 (2023 - £48,429) was accrued in respect of contributions to these schemes.

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (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 £794.9m, liabilities of £926.4m 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 31 March 2024: £54,228 per annum (payable monthly). This includes a deficit contribution of £25,606 per annum and plan expenses of £28,622 per annum. Between 1 April 2024 to 31 January 2025: £51,703. This includes a deficit contribution of £21,339 and plan expenses of £30,364. Under the Schedule of Contributions, deficit contributions are due to cease from 31 January 2025. A revised Schedule of Contributions will be prepared as part of the actuarial Valuation as at 30 September 2023 and may result in the reinstatement of deficit contributions for the future.

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:-	2024	2023	2022
Due within one Year	10,581	25,606	54,228
Due after one year	-	9,289	4,610
Present Value of Provision	10,581	34,895	58,838
Reconciliation of opening and closing provision
Provision at start of year	34,895	58,838	275,767
Unwinding of discount factor (interest expense) *	1,277	2,009	1,561
Deficit contribution	(25,606)	(25,606)	(56,022)
Remeasurement - impact of any change in assumptions *	15	(346)	(2,593)
Prior period correction	-	-	-
Remeasurement - amendments to the contribution schedule *	-	-	(159,875)
Provision at year end	10,581	34,895	58,838
* Impacts on SOFA

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

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

Assumptions	2024	2023	2022
Rate of Interest	5.13%	6.04%	4.46%

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	2024 £'000 11 - - - - - - - - -	2023 £'000 26 11 - - - - - - - -	2022 £'000
			26 26 11 - - - - - - -

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 (Gains) Losses on Investments Investment Income Interest Receivable Interest Paid Investment Managers' Fees paid from Investment Pension Interest Expense Depreciation Loss on Disposal of Assets and Impairment Debtors Movement Stock Movement Creditors Movement Advance Fees Discounts Advance Fees Discounts Reversed Net cash provided by operating activities	2024 £ 4,905,341 (1,646,198) (362,647) (379,315) 101,728 93,880 1,277 1,547,870 13,177 (314,918) (626) 1,708,482 (154,756) 7,111 5,520,406	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

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (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 £ 654,735 1,733,640 21,473,646 2,048,342 2,085,969 254,800	Designated Funds £ 271 - - - - -	Restricted Funds £ 44,558 - - - - 111,503	Endowment Funds £ - - - - - -	2023 Total £ 699,564 1,733,640 21,473,646 2,048,342 2,085,969 366,303
28,251,132	271	156,061	-	28,407,464
567,319 1,915,297 23,395,580	- - -	- - 44,829	- - -	567,319 1,915,297 23,440,409
25,878,196	-	44,829	-	25,923,025
-	-	-	(343,773)	(343,773)
2,372,936 1,118,390 -	271 (271) -	111,232 (1,118,119) -	(343,773) - -	2,140,666 - -
3,491,326	-	(1,006,887)	(343,773)	2,140,666
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
11,987,022	1,159,990	-	30,382,860	43,529,872

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

Balance Incoming 1 September Resources 2022 £ £ 22 Comparative Figures (continued) Endowment Funds, including expendable endowments Capital Investment Fund 26,324,554 - James Allen's Bursary Fund 4,402,079 - 30,726,633 - 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 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 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 23 Comparative Figures - Allocation of the Net Assets The net assets held for the various funds as at 31 August 2023 wer Fixed Assets £ Endowment Fund 17,095,887 Restricted Funds - Unrestricted Funds 15,700,707 School 32,796,594 Trading Subsidiary 689,183 Consolidated 33,485,777	Balance Incoming 1 September Resources 2022 £ £ 22 Comparative Figures (continued) Endowment Funds, including expendable endowments Capital Investment Fund 26,324,554 - James Allen's Bursary Fund 4,402,079 - 30,726,633 - 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 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 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 23 Comparative Figures - Allocation of the Net Assets The net assets held for the various funds as at 31 August 2023 wer Fixed Assets £ Endowment Fund 17,095,887 Restricted Funds - Unrestricted Funds 15,700,707 School 32,796,594 Trading Subsidiary 689,183 Consolidated 33,485,777			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
		e	as follows:- Investments £ 13,286,973 30,722 2		Net Current Assets/ (Liabilities) £ - (30,722) 1,476,358		Long term (Liabilities) £ - - (4,052,906)		Total £ 30,382,860 - 13,124,161
	32,796,594 689,183		13,317,697 (2)		1,445,636 (666,330)		(4,052,906) -		43,507,021 22,851
	33,485,777		13,317,695		779,306		(4,052,906)		43,529,872

2024-08-31-accounts

JAMES ALLEN’S GIRLS’ SCHOOL

REPORT & ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

CONTENTS

GOVERNORS, OFFICERS, ADDRESSES AND ADVISERS

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

Mr Adrian Floyd BSc (Hons) PGCE

Ms Victoria Hyndman BA (Hons) & MBA

Investment Manager

(Incorporating their Group Strategic Report)

For year ended 31 August 2024

REVIEW OF 2023-24

OUR LEARNING

Curriculum developments - Junior School

Curriculum developments - Senior School

Enrichment in the curriculum

Exam results 2023-24

Higher Education & Careers

Staff CPD

OUR PEOPLE

Core Values

Empowering all individuals

Wellbeing

Equity, Diversity & Inclusion (EDI)

OUR COMMUNITY

Outreach and Partnerships

Co-Curricular opportunities & achievements

Senior School

Junior School

OUR SUSTAINABILITY

Sustainability

Streamlined Energy and Carbon Reporting

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

Dr E Jane Marshall

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2024

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED SUMMARY OF INCOME AND EXPENDITURE

JAMES ALLEN'S GIRLS' SCHOOL

COMPANY NUMBER: 6618970

CONSOLIDATED BALANCE SHEET

Dr E Jane Marshall

PARENT ONLY BALANCE SHEET

Dr E Jane Marshall

JAMES ALLEN'S GIRLS' SCHOOL

CONSOLIDATED CASHFLOW STATEMENT YEAR ENDED 31 AUGUST 2024

1. Accounting Policies

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024

1. Accounting Policies (continued)

JAMES ALLEN'S GIRLS' SCHOOL NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (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 2024 (CONT'D)

1. Accounting Policies (continued)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

Analysis of Expenditure (2022-23 Comparative)

JAMES ALLEN'S GIRLS' SCHOOL

NOTES TO THE ACCOUNTS - YEAR ENDED 31 AUGUST 2024 (CONT'D)

6 Net Income From Trading Activity of the Subsidiary

JAMES ALLEN'S GIRLS' SCHOOL