**Registration number: 06927030** 

## **ST PETER'S SCHOOL, YORK** 

**(Charity number 1141329)** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended** 

**31 August 2022** 

**HPH Chartered Accountants 54 Bootham York YO30 7XZ** 



## **ST PETER'S SCHOOL, YORK REPORT AND FINANCIAL STATEMENTS** 

|**CONTENTS**|**_Page_**|
|---|---|
|Directors' and Trustees' Report and Strategic Report|_1 - 22_|
|Auditor's Report|_23 - 26_|
|Consolidated Statement of Financial Activities|_27_|
|Balance Sheets|_28_|
|Consolidated Cash Flow Statement|_29_|
|Notes to the Financial Statements|_30 - 46_|





**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Introduction from the Chairman of Governors** 

At the end of another school year, we all hope that we have also come to the end of the disruption to our lives that the pandemic has wrought. It is reassuring to see that things now feel more like the normality we have previously all enjoyed.  The school has overcome the many really difficult challenges of the last two and a half years and is now back to going from strength to strength, through its teaching and its achievements in Music, Drama and Sport. 

The school's very committed and capable Board of Governors continue to work closely with the Head Master and the whole of his excellent management team to ensure not only the continuing success of the school, but also that the necessary building blocks are in place to enable us all to look forward to a very positive future. 

Three governors have left the board this year with our enormous gratitude for the time, energy and commitment they brought to the school. My thanks go to Professor Matt Matravers, Carol Bailey and the Right Reverend Jonathan Frost. 

Having successfully negotiated our way through the many twists and turns and difficulties of covid, we have now been able to focus again on the strategic measures necessary to ensure the continued success of the school. We have just approved a new strategic plan for the school together with a masterplan for improving the campus facilities. This will ensure that the necessary energy and investment is targeted to where it is most effective, in moving the school forward to meet the demands of the 21st century. 

We are determined that we will maintain and improve the quality of the experience for the young people in our care, and to provide them with the environment and opportunity to realise their full potential both at school and in their lives beyond school. First class academic excellence is of course a crucial part of that quality of experience, together with access to outstanding sport, music and the arts. However, to ensure we are best placed to do this, we must guarantee that the financial position of the school is robust. Like many organisations at this time, the school is under significant financial pressure, facing large cost increases which are outside our control. I am pleased however to report that our finances are well managed, and we are taking the necessary steps to ensure we remain in good financial health. We do still have some borrowings following the necessary steps we took during the pandemic, but our school numbers remain strong - we are in most of our years a full school. In fact, as in the recent past some of the school years for next year are oversubscribed. 

We do continue to appreciate of course the sacrifices that parents make to send their children to the school. Although because of the many external pressures we face, the fee increase for next year is regrettably higher than in recent years, we will continue to strive to keep fee increases in future to the minimum necessary for a healthy school. To that end we are working on a number of schemes to introduce alternative income into the school, and at the same time looking at our costs, to ensure we can be as efficient as possible in delivering the quality education to our pupils. 

This year we have again confirmed our commitment to means tested bursaries.  We are meeting our target of investing at least 3% of our income each year, in order to help young people who would not otherwise be able to benefit from the experience of a St Peter's education. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

We have also embarked on a major fundraising campaign to enable more children to benefit from a St Peter’s education, with plans to more than double the number of bursaries we can offer in future years. Being able to offer help to young people through our bursaries is at the heart of the school's charitable purposes. 

St Peter's does of course have many positive advantages in its location, its campus and indeed its nearly 1400 years of history. However, none of this would count for much without the school being committed to excellent teaching and care, through our most important asset, the staff. Once again, this year, I would like to give a big thank you to both teaching staff and support staff for all their hard work and commitment throughout the year. 

## **Introduction from the Head Master** 

As we look forward to the 1400[th ] anniversary of the school in 2027, we are already in the planning phase for how to mark such a significant event in the long history of our school. 

Such a significant date is an excellent prompt for re-establishing and re-affirming the nature and purpose of the school, building on our heritage and looking with confidence to the future. This has given shape to the school’s strategic plan. As with any reasonably large and complex organisation, the detailed version becomes quite granular, but it can be summarised as falling into two boxes: Educational Excellence and Future Affordability. 

Under Educational Excellence, we are looking closely at the flow of education from the youngest children in the Nursery to those in the Upper Sixth and we are exploring practical ways in which pupils and colleagues can have a greater sense of overlap and discovery between the three sections of the school.  There is much to celebrate but also the imperative to be the best we can in preparing the pupils for happy and successful lives in a world which keeps on changing, while also making sure that they have a lot of fun and opportunity while at school. 

Community Engagement and Partnership is one of our strategic goals and brings us greater diversity of experience. More information is included on this work later in the report.  Being outward looking is something of a theme across much of the school with field trips and expeditions to places as diverse as Borneo, Whitby and the Palace of Westminster with visits received from an array of guest speakers across subject areas. 

Further engagement in the world beyond York was seen in the donation of key items for refugees from the Ukraine, and the incredible generosity of parents donating over £12,000 to purchase three minibuses to transport the goods to Poland and then to remain driving refugees out of the Ukraine and into safety.  I am glad also that we have been able to provide financial support to enable Ukrainian pupils to join St Peter’s. 

Diversity, Equity and Inclusion has been a significant theme of the year, and will continue to be so, as we challenge ourselves and celebrate the great gifts which diversity brings to our community and society. The diversity audit from earlier in the year led to a number of listening groups where pupils and colleagues have shared their experiences and shared ideas of areas where we can improve and make a positive difference. 

As a school, we choose to live our lives in community, looking outwards and embracing difference. This makes pupils’ lives fun and full of interest and more importantly a rich and rounded experience which provides holistic development of their potential.  A fundamental answer is that it sets up our pupils to make the most of all that lies ahead in life and to make a positive difference to their world. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

We continue with our aim to equip the next generation with the skills and, crucially, values that will enable them to thrive and to show leadership in the years ahead.  Skills such as those identified by the World Economic Forum’s Future of Jobs Report as being the most highly prized, regardless of what jobs they might do, including complex problem-solving, analytical thinking, creativity, social influence, emotional intelligence, resilience and an orientation towards service.  Alongside these we focus on developing mindfulness, gratitude and kindness. 

The second strand of our strategy addresses Future Affordability.  Alongside a focus on cost control, we are looking to further increase our revenue away from school fees through areas such as expanding our external lettings programme.  We are also in dialogue on various options for exporting our education overseas, whether that be in setting up schools or providing consultancy and considering other commercial ventures. 

All of this is going to be crucial as we seek to mitigate against fee increases while having appropriate remuneration for colleagues and giving pupils access to the best possible facilities and opportunities.  On that last point, we worked with architects this year to produce a campus masterplan and we expect to have more to share with you on that in the autumn. 

A final area, and one that is very close to my heart, is fundraising to increase the number of pupils attending St Peter’s with financial assistance.  Maintaining a wide demographic of families and pupils is of huge importance to St Peter’s and has been part of our core identity in this great city and region for centuries past.  Rising school fees has challenged that and will continue to do so without a laser-eyed focus on affordability and access.  We know from impact studies that pupils who attend St Peter’s on bursaries not only benefit a great deal but, as we select pupils with talent, spark and creativity, also contribute enormously to the life and success of the school. 

None of this can be achieved without the contribution of everyone who makes up the St Peter’s family and sincere thanks go to all colleagues. 

## **St Peter’s 13-18 School: Head Master’s Summary** 

It was an enormous relief to return to normal exams this year and performances in A Levels and GCSEs were very strong. 88% of A Levels were awarded grades A*-A and 97% A*-C. GCSEs 74% of GCSE results achieved grades 9-7 and 98% grades 9-4. The Fifth Form and Upper Sixth approached the return of a more normal exam season with diligence and a positive attitude. 

Not that the preparation for public examinations seems to be limiting the wider ambition of staff and pupils, seen in publications such as Keystone, the school magazine and incubator of young journalists, and Peternomics where fifty Lower Sixth contributed articles on a wide array of Economic matters.  We continue to have a strong showing in the Royal Society of Chemistry’s Olympiad and had our highest ever placing in the British Mathematical Olympiad with one of our pupils placed joint 24[th] in the country with the tenth highest score and just outside the national squad. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

Going beyond the tramlines of the curriculum is at the heart of our approach, and the fostering of creativity and independent thinking is an integral aspect of our approach to learning.  Upper Sixth History of Art students reached the regional finals of a competition run by the National Gallery to deliver a presentation on a piece of art or architecture.  Debating remains a popular option with the Inter-House competition being very well-supported along with variations of Just A Minute and The Unbelievable Truth.  Away from school, the Public Speaking team made it to the Regional Finals and the Mace team progressed to the National Finals in London. 

We saw the return of Lower Sixth Exploration Week with a host of seminars on areas as diverse as psychology and Egyptian art, making potions in the Chemistry lab and developing team and leadership skills.  We also ran a new approach to appointing pupil leadership roles including applications and interviews.  It was most encouraging to see 89 pupils put themselves forward for such roles, although I am always fond of saying that you don’t have to wear a gown to exercise leadership and at the heart of leadership is the duty of service. 

In this area, the Duke of Edinburgh Award fosters leadership, teamwork, volunteering and the development of skills.  Finding new ways to get around restrictions has led to Upper Sixth pupils tutoring Ukrainian students online in spoken English and working at residential camps for children with special needs.  It gave me great pleasure to present berets and promotions to CCF cadets recently, and I am glad that our pupils have such a wide array of opportunities. 

Success on the national stage was also achieved in Design and Technology with a second pupil in three years gaining a highly distinguished Arkwright Engineering Scholarship and four pupils selected as finalists for the Young Engineer of the Year Award. 

Creativity and design abounding too in the Makerspace Memorial Project, supported by the Old Peterites, where pupils designed silhouettes of military personnel to commemorate Old Peterites who have died in service of their country.  It was moving to see the final pieces in place for the Remembrance Day service. 

Music is thriving and we have all enjoyed the return of live performance with highlights including the annual choral and orchestral concert. Last week the Memorial Hall was turned into a beautiful venue for the first live Cabaret since 2019 and audiences were treated to performances of great flair and charisma.  A real stand-out memory though will be the Duke Ellington Jazz Eucharist in The Minster in June. 

In sport, we have secured a full programme of fixtures in the first competitive season for girls’ cricket and have fielded mixed teams as well as seeing the boys’ 1[st] XI being North of England T20 finalists. In netball, the 1sts lost only one match all season with the 3rds being unbeaten as were the Under 18 boys and Under 15 boys and girls swimming teams.  The Under 18 boys finished 11[th] in England at the National Schools Swimming Championship and, in our first visit to the World Games School Swimming Championship, we secured 52 medals across all age groups including 16 golds and 17 silvers. 

The rowers competed at a number of regattas, often with over forty entries, securing medals and wins across age groups and configurations. With over 70 pupils in the Boat Club, rowing is in strong shape, for which much thanks goes to Mr Ian Doyle as he steps down as Head of Rowing. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

No shortage of success in Rugby with the Under 15s reaching the last 16 of the National Cup.  In hockey, the Under 18 girls made the last 16 of the National Cup and the Under 14s boys reached the National Finals for the first time.  With our senior girls’ tennis team winning the North Finals, the Senior Boys reaching the National Finals and the 1[st] XI football team securing a 70% win ratio, our sports teams have certainly covered a lot of ground. 

It must not be overlooked that on most Saturdays well over 230 pupils represent the senior school in sporting fixtures and that broad participation is just as important. This is also seen in over 150 pupils, over a quarter of the school, singing in the School Choir. 

We continue to emphasise the importance of mental health, both in providing support and offering ways to promote positive mental health.  Being busy, active and having a variety of interests is one of the ways to encourage the latter and, now that we have been able to return to normal practice it feels as though we are busier than ever. 

There are practical things we do at school to prepare pupils for all that lies ahead.  In collaboration with the Alumni and Development Office, the Careers Department successfully rolled out a Mentoring Programme to all pupils in the Lower Sixth.  They were paired with an Old Peterite who spent 5 weekly sessions discussing employability skills, what it takes to be successful in the workplace, interview techniques, going to university and much more. 

Likewise, the Sixth Form Enrichment Programme and the Lower School’s Lessons for Life courses covers a wide range of material that look ahead to adult life.  Tutoring is the area where we seek to bring all of this together and the next few months should see the completion and introduction of an app we have been developing where pupils can track all they are doing in the context of the skills they develop. 

## **St Peter’s 8-13: Head’s Summary** 

It was wonderful to be able to start the academic year 2021/22 with no Covid restrictions in place. We were able to return to a full co-curricular programme and sports fixtures against other schools, culminating in Speech Day in the Sports Hall with all the children, staff and parents. Many children did have to self-isolate at home at some point in the Christmas term and so teachers were teaching hybrid lessons where most children were in the classroom but some at home online. This was a very exhausting way to teach but they were able to ensure that the children at home were involved in lessons as much as possible. There were also times when a lot of teachers were absent from school with Covid. Yet again though, they showed their adaptability and resilience. 

We had a moving Remembrance Day Service and held our Carol Service in York Minster for the first time. The York Minster choristers have been able to sing without any of the previous Covid restrictions in place, allowing many of them the opportunity to do this for the first time ever, and in front of huge congregations at the Christmas and Easter services. Music continued to go from strength to strength, with increased numbers of children learning an instrument and playing in ensembles. We even had 147 pupils playing in a ‘Baroque and Roll’ concert for parents. Walking around the school, the variety and quality of art which is displayed everywhere is truly remarkable. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

We went ahead with our planned Wellbeing Week in October with activities such as ‘dance for wellbeing’, Thai Chi, art therapy, yoga and mindfulness. Our swimmers had much success at the first ever World Schools Swimming Championships, winning 18 medals, on top of two individual national champions at the IAPS National Swimming Championships. There was much success with our sports teams in tournaments across all the main sports, however it the huge number of fixtures played at all levels which is most pleasing. 

The U13 boys' hockey qualified for the IAPS National Finals, playing in the top 20 teams in the country. They also qualified for the North East round of the In2Hockey competition, after winning the North Yorkshire tournament. 3 boys have been selected to play in the England Hockey North East U13 squad. The U11, 12 and 13 girls were all North Yorkshire hockey champions. The U11’s came fourth and the U13s came 2nd in the North East of England hockey finals. The U13 and U12A’s came 2nd in the York and District netball tournaments whilst the U13B’s won the York and District Netball ‘B’ Tournament. In rugby sevens the U13s won the Durham and Terrington Hall tournaments and came 2nd in the Millfield tournament, and the U11s also won their Terrington Hall tournament. The U13 boys won the Spirit of Soccer tournament at Aysgarth School. We hosted and organised HMC U11, U12 and U13 rugby sevens tournaments with 18 school playing in each, 180 competitors each time and over 100 parents. We also organised and hosted the IAPS National Cricket Finals in the summer term. 

Our J5 cast performed an abridged version of ‘The Tempest’ at Leeds Playhouse as part of the Shakespeare Schools Festival. Children’s author L.D. Lapinski spent the day with us as part of our World Book Day celebrations. The J5s went to see “Bone Sparrow” at the theatre - the story about a boy born into an Australian detention centre, so belongs nowhere. The J3s also went to the theatre to see ‘Treasure Island’ as a precursor to their class reading book. We had an excellent visit from children’s author Tom Palmer, on the day after Remembrance Day. Our dance group took part in the Yorkshire Schools’ Dance Festival at the University of York, where they had a fantastic time. We hosted a Maths Masterclass on a Saturday morning for children from local primary schools. 

This year we have engaged many more children in pupil voice than previously, by moving to a system of Pupil Ambassadors for different areas, rather than just one School Council which limits the number of pupils involved. We have Food Ambassadors, Charity Ambassadors, Eco Ambassadors, Diversity and Inclusion Ambassadors and Fortnightly focus Ambassadors (who help choose the focus of assemblies for the following two weeks). The Diversity and Inclusion Ambassadors launched an anonymous online form for pupils, which could be accessed from the pupil portal, where they can report any examples of where they feel people are behaving in an inappropriate way in this area and also suggest ways of improving things. 

We adjusted our pastoral care structures this year, trying to take the best experiences of Covid-forced changes, like year group bubbles, and combine them with our vertical House structure. A year group based mentoring system has replaced a vertical mentor group. We also kept year group lunches for the pupils and that has helped develop friendships around lunchtimes. 

Finally, it was a wonderful surprise to see that ‘The Week’ magazine had chosen us as “Great City Prep” school in their Independent Schools Guide. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **St Peter’s 2-8: Head’s Summary** 

The demand for places at school continues to remain high. Recruitment of children has been extremely busy with Open Days, visits during the school day, weekends, and evenings. In September 2022 we had the largest new cohort in the school’s history. This success is undoubtably down to the strong reputation St Peter’s holds nationally compounded by the inspiring teaching and learning delivered by our dedicated team of staff. 

Due to the increase in numbers we created a new space for a classroom and for three new music practice rooms. The library at St Peter’s 2-8 has been refurbished and we have moved to a new library system that can be used via teacher iPads. Most recently the school has purchased books that promote the work we are doing in important areas of diversity and inclusion, creating a display of books highlighting black and female role models from history. 

Over the summer term we took the opportunity to refresh our curriculum offering. The revised curriculum has four key strands that are integrated into all aspects of learning at 2-8. These are Numeracy, Digital Competence, Language and Communication and Wellbeing, and each align with the St Peter’s four pillars. 

On the International Day of Persons with Disabilities we organised various activities across the whole school during the whole week. We began the day with a visit from Sean Gaffney a para-athlete and amputee who has won medals in the Invictus games, competed in the Commonwealth Games and is the world indoor rowing champion. 

We continue to embed technology into our teaching. Children use ‘Green Screens’ creating films, code to manipulate robots, QR codes to complete challenges in the classroom and iPads to become authors. 

The theme for STEM week this year was Growth! Every day we focussed on a new interpretation of the word ‘growth’ and sent home new STEM challenge for the children to have attempt. Children built towers out of playing cards, investigated Growth Mindset to confront challenges by completing a complicated matchstick challenge, explored growth by germinating a bean in a jar at home, and experimented with growing different types of bacteria. On the final day of STEM Week, the children were charged to teach the teachers something new. 

As part of Children’s Mental Health week each day we focused on one of the five ways to wellbeing (Connect, Be Active, Take Notice, Keep Learning, Give), with different daily activities taking place in all three parts of the school. All of the activities were created by the staff and pupil wellbeing team. 

There were wellbeing workshops led by ‘OpenView Education’ organised for our children. The children from Reception to Year 3 enjoyed the puppet shows that helped them to understand their feelings and the importance placed on talking about our worries. 

Physical activity is a central part of the education at St Peter’s 2-8. Children swim once a week from age 4 and have two physical education lessons each week. The focus for the younger children is on physical literacy and developing the fundamental movement skills essential for the age of the children. All the children in Year 3 (7-8 years old), begin to play small sided games and start to play fixtures against other schools where all the children participate. During the year we joined Yarm Preparatory School, RGS Newcastle, Hill House School to participate in sport workshops. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

Our Co-Curricular programme continues to grow. Everyday there are a number of activities for the children to join. All staff and many outside providers offer activities for the children including dance, drama, sport, art, sign language, computing, film making and many more. 

We place a tremendous emphasis on music which provides an important contribution to the life of school and is celebrated, promoted, and encouraged. Children performed in music concerts throughout the year and took part in the Young Voices Concert at Sheffield Arena. The children from the 2-8 choir sang as part of the Whole School Foundation Concert, a wonderful way to bring musicians from throughout St Peter’s to come together. 

Year 2 children took part in a Musical Connections Intergenerational session singing songs and making music with the residents of Ebor Care Home in York. This is the first time we have been able to work with the Musical Connections charity for three years and we look forward to being able to take more of our children next academic year, it’s such a valuable experience for our children and really does make such a positive difference to the older generation living in our community. 

## **St Peter’s School, York: at the heart of our community** 

## Economic Impact 

The Independent Schools Council published its first Economic Impact Report since 2018. Based on data from the 2021-22 academic year, St Peter’s made a contribution to the local economy (defined by our Local Authority, City of York Council) of £18.8m in the last year. The school directly employs over 400 staff living in the area and generated almost £0.5m for local businesses in our supply chain. A copy of the full report can be found on the ISC website. 

## Partnership Work 

St Peter’s School was a founder member of the York Independent State School Partnership (ISSP) when it began in 2006 and has maintained its enthusiastic support for and commitment to the organisation. 

The significant role we play in the York ISSP is one way we continue to make a difference. The Head Master has been elected to chair the group of ISSP Schools from September 2022 and is a member of an advisory group on developing partnership programmes nationally. 

We did not enter any GCSE Latin candidates for exams in 2021/2022 but began the two-year course for 18 students in September for candidates who will sit their exams in the summer of 2023. A further 24 students began their two-year course in September 2022. ISSP Latin is taught for 4 hours a week in after school classes at St Peter’s and this model is replicated in two other York schools in the partnership. 

We resumed teaching Astronomy to Year 10 ISSP students in 2021/2022 and will be entering 45 for their GCSE examination in 2023. Astronomy is taught for two hours a week so a total of almost 1600 hours of tuition in an academic year. 

We were delighted to host the ever-popular ISSP Breakthrough for Year 7 and 8 pupils last year. Each event saw 100 pupils take part in 2-hour afternoon events with one of our own teachers amongst the panel of 6 teachers putting forward their 'breakthrough'. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

ISSP Masterclasses returned in the Spring hosted by another partner, Bootham School, and one of our Spanish teachers delivered a class for Year 7 and 8 students. A member of our Physics department delivered the ISSP Year 7 and 8 lecture on the topic of Dark Matter as an online talk which was well attended and also recorded for later viewing. St Peter’s then hosted 4 masterclasses in Classics, Textiles, English and Maths for Year 9 and 10 pupils over 3 weekends (equating to 9 hours of teaching) in March. Around 70 pupils took part in the Y9 and 10 masterclasses, 10 were from St Peter’s. 

Our Head of Physics continues his important outreach work with the Institute of Physics. He has qualified as a "Lead Facilitator" for STEM Learning, the organisation which taken on the responsibility of the Stimulating Physics Network (SPN) and Subject Knowledge in Physics Teaching (SKPT) from the IOP. St Peter’s releases him for 1 day per week to work with other schools to help them develop their Physics delivery. In addition, he ran a national CPD session online attended by people all over the UK and Ireland and worked closely with Hessle Academy in Hull to help them improve their Physics GCSE performance at the top end with impressive results.  He is also an SKPT coach helping non specialist teachers from state schools in the region to improve their Physics confidence. These teachers attended sessions at St. Peter's and also online webinars. They worked at local state schools ranging from schools in York, Scarborough and Leeds. This outreach work delivered 490 hours of CPD to local teachers. 

Our Head of Physics was also a "Levelling up tutor" for Birmingham University, giving tutorials to disadvantaged Year 12 students who had aspirations to enrol in further education. 

Elsewhere in Science outreach, we had a public Science Lecture from Erica McAlister from the Natural History Museum in October 2020, talking about flies 'The Small Things that Matter'. We had a very good attendance around 150 people and this was the first post-pandemic public lecture. There was an Astronomy lecture in March, delivered by Prof Carolin Crawford 'A Universe of Galaxies'. In collaboration with the Institute of Physics Yorkshire branch, this was the most popular online talk of the year with 85 people joining live online. 

A new venture was a mini robot competition during the summer term. Six local schools engaged with the competition. The final round of the challenge was held at St Peter's with three teams taking part and the winners were from All Saint's School, York. 

We ran the Physics Olympics competition for the first-time post-pandemic in June. 25 Teams from in and around Yorkshire signed up for the competition and there were over 100 visitors in school for the event. Eventual winners were Yarm school. 

Sadly, poor weather also scuppered planned stargazing evenings this year, but we plan to hold these popular events again next year. 

In recent months we have been working with the Merchant Adventurers and the University of York to create a course in Business Enterprise for pupils across schools in York which we plan to launch next year. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

In May we hosted the seventh Northern Learning Conference. It was a wonderful opportunity for over 120 teaching staff from across the country to listen to a range of inspiring speakers and to meet and network with colleagues from both the State and Independent sectors. The conference opened with keynote speaker, Judy Murray, OBE. Judy then led two coaching workshops for groups of delegates throughout the day. Dave Godfrey, Number Fun led workshops on teaching maths through stories, Kym Scott, an early childhood consultant, conference speaker and trainer provided the delegates with a workshop that explored the impact that quality relationships, interactions, environments and play experiences can have on children's learning and life chances across all ages in schools. Claire Gadsby, a leading educational consultant, with a wealth of experience in school improvement and motivation strategies explored concrete, practical strategies, and resources that teachers and teaching assistants can use immediately to enhance learning in their classrooms. Billy Hickling, the award winning “Trashbang Man”, taught us how to make music out of household rubbish. 

We have welcomed over 40 independent and state schools to visit St Peter’s to build local partnerships, share learning and best practice and build relationships in our region and further afield. 

The Head of St Peter’s 2-8 continues as an IAPS District Representative and Council Member, supporting the governance of all Independent Prep Schools. As the IAPS Advisor for 2-8 education, the Head has supported several schools across a wide range of issues and curriculum design. He is the Chair of the IAPS Pre-prep and Early Years Advisory Group, speaking at the IAPS Deputy Heads and Academic Deputies Conference in London and was on the panel for the process of IAPS recruitment of their new CEO. 

The Head continues to work very closely with the City of York, being a member of their Early Years Directors Partnership and their schools’ group. 

## Bursaries 

St Peter’s School is committed to awarding bursaries each year to day and boarding pupils. Not only do these children contribute hugely to the community of our school through their talents, curiosity, enthusiasm and ability to build relationships, but they themselves benefit from the St Peter's experience for the rest of their lives. 

In 2021-22 £620k was awarded in bursary assistance. 31 pupils aged 11 to 18 were in receipt of a bursary. We awarded 20 bursaries to day pupils and 11 to full boarders. The average award as a percentage of total fees was 77% for day pupils and 95% for boarders. 

The majority of bursary enquiries come directly to the school, and we have worked hard to publicise the awards to prospective families and simplify the application process. We also have partnerships with two organisations to award Sixth Form bursaries: 

## I. Royal Springboard 

Royal Springboard is the UK’s largest boarding school bursary charity, providing lifetransforming opportunities for disadvantaged and vulnerable children and young people in 90 state and independent boarding schools. 

For the last four years, St Peter’s has provided a full boarding bursary to one Sixth Form pupil per year, referred to us by Royal Springboard. We work with the Hope Opportunity Trust based in Liverpool and Chester from early each academic year to identify the candidate for the following September. We also welcomed an additional Third Form boarding pupil as a direct referral from Royal Springboard. 

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**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## II. Archbishop Sentamu Academy, Hull (ASA) 

St Peter’s has a longstanding relationship with ASA, having been connected through our governing bodies over a number of years. For the last five years we have provided a full boarding bursary to one or two Sixth Form pupils per year, working with the Academy in the autumn term to recruit the candidate for the following September. We were delighted to appoint our ASA scholar to become Deputy Head of School for the year commencing September 2022. 

## York Minster Choristers 

In 2020, St Peter’s became the choir school for York Minster. 40 choristers aged between 8 and 13 receive a substantial fee contribution from York Minster. In addition, 6 pupils receive additional bursary funding from York Minster, the Choir Schools Association and from the school’s own bursary fund in line with York Minster’s aim that the choir is open to children from all financial backgrounds. 

St Peter’s School has reviewed its music scholarships and means tested bursaries to ensure that no choristers should have to leave the school on financial grounds once their choristerships come to an end. The first cohort left the choir in 2021 and all but one progressed to the senior school. 

## Charitable Work and Fundraising 

All three sections of the school have regular commitments to fundraising and engagement with local, national and international charities. 

## Fundraising Approach 

In the last year, St Peter’s School has continued to raise funds for bursaries and capital projects through the Development and Alumni Relations Department. The Development and Alumni Manager coordinates all fundraising activities for the school and submits an update to each full board governors’ meeting. The total raised from Fundraising activities in the year was £419,961 which included legacy donations totalling £110,000. Most of the donations that we receive are as a result of this ongoing communication and meetings with the Development and Alumni Manager, including events, reunions, the annual Old Peterite Day and through the Cross Keys magazine. 

Despite the limitations of last year, we continued our focus on increasing fundraising to support affordability of fees and increasing financial support through the Help With Fees programme. We began the quiet phase of the Keys for Life bursary fundraising campaign in line with our 1400[th] anniversary which will have a full launch in 2022/23. 

The school is registered with the Fundraising Regulator and subscribes to the Code of Fundraising Practice. We are unaware of any occasion in the reporting period upon which we have failed to comply with the Code, nor has the school received any complaints about our fundraising activities. We take great care to not exert pressure on any individual and any material sent out is not persistently repeated in an intrusive manner. The Board of Governors oversees fundraising activity and monitors activity to ensure fundraising is respectful to members of our community. 

11 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## Community Events and Lettings 

It was wonderful to return to our public lecture series, which is free of charge to our local community. We hosted talks from speakers including the Yorkshire Shepherdess, Amanda Owen, Horrible Histories’ Greg Jenner, crime thriller author Val McDermid and the wonderful former WWII ATS Corporal and Driver, Barbara Weatherill. 

St Peter’s continued to support organisations in the local community including making the swimming pool available to state schools for lessons; opening our Memorial Hall for state school concerts; providing a venue for the Royal British Legion Festival of Remembrance; hosting the York Design Awards; county hockey training on our pitch and making outdoor space available to local Royal Air Force Cadets. 

## Supporting Student Teachers 

Four Graduate Sport Assistants have all secured roles in State or Independent Schools throughout the country following their two years at St Peter’s School, each completing their PGCE during their time with us. This is a wonderful endorsement of the graduate programme that has been created over the years. St Peter’s 2-8 has also been used as a placement school for eight PGCE and Undergraduate students from York St John University and Buckingham University. 

The school was able to maintain its relationship with the University of Regensburg even after the Erasmus scheme came to an end and continues to welcome German and Austrian students. 

## **Diversity, Equity and Inclusion (DEI)** 

In November 2021 we commissioned a diversity audit through Inclusion Labs to help our staff and pupil working groups focus on the DEI priorities for the school. As a result of this the priorities were set as: 

- Long term focus on improving diversity in leadership and governance. The governing board has already taken steps to increase gender and age diversity in the last year. 

- Use of inclusive language and calling out non inclusive language from staff and pupils 

- - Increasing breadth of background external speakers and visitors to school assemblies, chapels and lectures 

- Creating a statement of faith which emphasises inclusion 

- Reviewing sport and where it overlaps with gender, ethnic and socio-economic factors as well as all-round inclusivity based on ability 

- A full review of uniform and dress code 

Revd. Canon Dr Vicky Johnson has been appointed as governor lead for DEI and it is a standing item on full board agendas. There is a whole-staff DEI working group which meets twice a term and pupil groups in each of the three sections of the school. 

12 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Environmental Impact** 

Pupil eco groups run throughout the school with staff support to implement their initiatives as part of the school’s commitment to sustainability. These ensure that we continue to meet the benchmarks set to maintain Green Flag status. 

Specific initiatives by the school this year have included a full traffic survey of the site, to design more efficient pick up, drop off, less queuing and less idling. Working with our architects on a campus masterplan, we have applied for planning consent for a new entrance to the school to improve traffic flow and reduce congestion and pollution. This application also includes building a second synthetic pitch to reduce coach hire to other facilities. The campus masterplan as a whole incorporates wider sustainability principles, not simply energy saving, into our future developments. 

Our onsite vehicles used by the facilities and estates staff to access the campus are fully electric and included two new vehicles in an upgrade last year. We have carried out an extensive programme of light fitting replacement with over 700 old inefficient fittings replaced with LED lights in the last 12 months. 

Our programme to replace old inefficient boilers with high efficiency new ones with intelligent zoned control. All flat roofs when refurbished have extra insulation added including a large area of flat roof which was upgraded this year. 

We have moved to 100% compostable disposable packaging in the kitchens (cups, sandwich and salad boxes) and all food waste now recycled which has significantly reduced waste to landfill. 

## **Governance Structure and Management** 

## **Governing Document** 

The School is governed by its Memorandum dated June 2009 and Articles of Association dated 27 January 2022. 

## **Recruitment and Training of Governors** 

The School is governed by a Board of Governors, who are all unpaid volunteers. On 26 March 2014 the Board of Governors resolved that three Governors would in future be nominated by the institutions below and the remaining thirteen would be appointed by the Board of Governors.  The nominated Governors are to be appointed as follows: 

One by the Archbishop of York 

One by the Chapter of the Cathedral and Metropolitical Church of St Peter in York One by the Council of the University of York 

Each nominated appointment is made for a term of five years at a meeting convened and held according to the ordinary practice of the appointing body. The person appointed may be, but need not be, a member of the nominating body. 

13 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

The remaining Governors are appointed for a term of five years by a simple majority of the Board of Governors. The Board identifies suitable candidates bearing in mind a mix of skills and experience appropriate to the perceived needs of the school at that time.  The school’s aim is to recruit responsible people who are actively interested in our charity and who can give the necessary time commitment.  We search for people with the specific expertise required to maintain a balanced, diverse and effective Board. 

New Governors are given an induction that includes meetings with key individuals and a tour of the school. Governors are encouraged to attend School Governor training programmes run by organisations including AGBIS and are provided with reading materials including "Guidelines for Governors", a manual of good practice for the governors of independent schools. Internal training and visiting speakers are provided as necessary.  All governors meet annually with the Chairman which is an opportunity to review individual contributions and to identify any additional training needs. 

## **Organisational Management** 

The Board of Governors meets four times a year and in addition holds a training and strategy day each year. The strategic direction of the school, its general policy and financial oversight are determined and conducted by the Board of Governors in close collaboration with the Senior Leadership Team. The Head Master, the Chief Operating Officer, the Senior Deputy, the Head of St Peter’s 8-13, the Head of St Peter’s 2-8, and the Director of Admissions, Marketing and Communications all attend meetings of governors.  To enhance the deliberation of the Board, a number of committees have been established which usually meet once per term or as deemed appropriate. Terms of reference and levels of authority for each committee are determined by the Board of Governors and membership is as set out below. The teaching staff in each school are accountable to their respective heads, and the Head of 8-13 and Head of 2-8 are accountable to the Head Master, who in turn reports to the Board of Governors. The support staff are the responsibility of the Chief Operating Officer who, in turn, reports directly to the Head Master. The day-to-day management of the school is delegated to the Head Master. 

14 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Full Board** 

The Governors are the directors of St Peter’s School, York (company number 06927030).  The following people have been members of the Board of Governors during the year: 

Nominated by the Archbishop of York: Mr W Woolley (Chair) Nominated by the Council of the University of York: Professor T McLeish (Appointed 7 Oct 2021) Nominated by the Chapter of the Cathedral and Metropolitical Church of St Peter in York: Dean J Frost (Retired 19 October 2021) Rev’d Canon Dr V Johnson (Appointed 5 Jan 2022) Co-opted: Mrs C R B Bailey (retired 25 April 2022) Mr M Calvert Mrs J Copley-Farnell Dr N Durham Mrs T Flannery (Vice chair) Mr P B Hilling (Vice-chair) Dr S Hinchliffe Mrs S Lang (Appointed 1 March 2022) Mrs C Smart (Appointed 19 Nov 2021) Mr A Taylor Sir John Townsley (Appointed 1 March 2022) Mrs G Vidic-Cattorini (Appointed 1 March 2022) Mr P D Widdicombe 

## **Officers** 

Head Master Mr J M P Walker Chief Operating Officer Mr M C Carr The Clerk to the Governors Mrs K V Hodges 

## **Committee members serving during the year 2021-22** 

## **Education Committee** 

Mrs J Copley-Farnell Mrs T Flannery Dean J Frost Dr S Hinchliffe Rev’d Canon Dr V Johnson Prof T McLeish Mr A Taylor (Chair) Sir J Townsley Mr W Woolley (ex officio) 

15 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Finance and Governance Committee** 

Mr M Calvert Mrs J Copley-Farnell Dr N Durham Mr P B Hilling (Chair) Mrs S Lang Mrs C Smart Mrs G Vidic-Cattorini Mr P Widdicombe Mr W Woolley (ex officio) 

## **Property and Facilities Committee** 

Mrs C R B Bailey Mr M Calvert (Chair) Dr N Durham Mrs T Flannery Mr P Widdicombe Mr W Woolley (ex officio) 

## **Bursary and Hardship Committee** 

Mrs C R B Bailey Dr N Durham (Chair) Mrs T Flannery Mr W Woolley 

## **Process and Co-ordination Committee** 

Mr W Woolley (Chair) Mr P B Hilling Mrs T Flannery Mr M Calvert (ex officio) Dr N Durham (ex-officio) Mr A Taylor (ex-officio) 

16 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Advisers** 

Bankers Virgin Money 46 Coney Street York YO1 9NQ Solicitors VWV Orchard Court Orchard Lane Bristol BS1 5WS Auditor HPH, Chartered Accountants 54 Bootham York YO30 7XZ Insurance broker Marsh Limited Education Practice Capital House 1 - 5 Perrymount Road Haywards Heath West Sussex RH16 3SY Investment manager Sarasin & Partners LLP Juxon House 100 St Paul’s Churchyard London EC4M 8BU 

## **Key Management Personnel** 

The Governors consider that they, together with the St Peter’s Leadership Team (Head Master, Head of 8-13, Head of 2-8, Senior Deputy Head, Director of Admissions, Marketing and Communications and the Chief Operating Officer) comprise the Key Management Personnel. The Governors provide their services freely, and the pay and remuneration of the Head Master and other members of the Senior Leadership Team are set by the Senior Leadership Remuneration Committee. The criteria used in setting pay are: 

- Nature of the role and responsibility 

- Sector benchmarking 

- Results of performance reviews 

Data from various bodies, such as the Association of Governing Bodies, is used to ensure that the School sets pay at an appropriate level to attract and retain suitable members of staff. 

17 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Objectives and aims** 

## **Charitable objectives** 

The object of the charity is to advance the education of boys and girls by the provision of a day and/or boarding school or schools or nursery in or near York or elsewhere 

## **Aims** 

Our vision is to be a happy, thriving 2-18 co-educational day and boarding school community that combines a classical, high quality, all-round education with a forward-looking and exciting approach to learning.  We aspire to build on our excellent reputation in the North and become known as one of the best all-round independent schools in the country. 

## **Activities and Objectives of the Period** 

2021-2022 saw the school’s operations return to some normality with the worst phase of the pandemic behind us. A comprehensive review of the campus was completed in March 2022. This review resulted in a new Campus Master Plan that will maximise the use of our site. 

The Plan identifies a number of stages that will provide an enhanced campus that is highly fit for purpose, flexible and as future proof as possible. Fulfilment of the plan will ensure that we can continue to provide the best possible education in the best possible environment. 

The first phase of the Campus Master Plan is the addition of new sports pitches and facilities with associated road access. This is expected to go through the planning application process next year. 

This year also saw the School enter into consultation with staff over membership of the Teachers’ Pension Scheme. A joint negotiating committee was formed with the recognised staff unions, the NEU/NASUWT with discussions taking place over several months from November 2021 to March 2022. This process resulted in a collective agreement to implement a phased withdrawal from the Teachers’ Pension Scheme, effective from 1 September 2022. 

## **Strategies to achieve the period’s objectives** 

The Governors continued to maintain oversight of the school through regular meetings of the main board and through the established framework of sub-committees. The daily management was delegated to the Senior Leadership Team and through to a network of middle leadership teams and departments. 

## **Grant-making policy** 

Our grant-making policy enables us to continue our long tradition of opening our doors to children from a broad social spectrum. Through fundraising, the Foundation enables us to offer more bursaries to talented children, giving them life-changing educational opportunities, which would otherwise be out of reach. 

18 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Investment Performance and Policy** 

The Governors’ investment powers are governed by the Trustee Act 2000, which permits funds to be invested in accordance with the Act’s standard investment criteria: the suitability of the proposed investment to the nature of the School, and the need for diversification to reduce risk. Approximately two thirds of the investments are in Endowment Funds, and these are subject to the individual donor’s original conditions. 

The Board’s policy is to adopt a low to medium risk investment strategy to maintain income, which preserves the real capital value of investments in line with the Retail Price Index. 

The performance of the School’s investments has been satisfactory during the period. 

The School’s investment portfolio is managed by Sarasin and Partners LLP. 

## **Risk Management** 

The Governors have considered the key risks faced in our day to day operations. We have developed systems to monitor, control and mitigate these risks, which are constantly kept under review, and all risks are individually reviewed on a two-year cycle. 

Risks are categorised under four headings and recorded on the School’s risk register 

- Governance and Strategic 

- Operational 

- Financial 

- External 

A “traffic light” system is adopted to evaluate residual risk and no “red” risks have been identified. 

Each “top-level” risk identified is allocated to one of the five sub-committees for regular review, discussion and challenge to ensure organisational and environmental changes have been considered and appropriate actions taken. The review of risks also includes the identification and discussion of any “emerging” risks and the referral of risks to the Full Board for further consideration as appropriate. 

19 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **FINANCIAL REVIEW AND RESULTS FOR THE PERIOD** 

The financial results for the year are set out in the accounts. 

Our net income before investment gains is £1,050,118 (2021 £1,067,293). Fee revenue was 7.5% higher than the previous year with pupil numbers in all three schools remaining strong. 

Costs rose by 6.7% in total due to the return to normal operations following the pandemic. 

The balance sheet remained robust whilst including debt of £1.9m. Cash generation was strong with £3,088,176 being generated from operating activities. Fixed asset expenditure was £1,433,858 which included classroom redevelopment in various parts of the site and infrastructure upgrades such as roofs, boilers and fire detection systems. 

The projected net income for the year to August 2023 is expected to be lower than previous years. Whilst pupil numbers are very strong, the significant increases in energy prices and other consumables have led to increases in our cost base. 

## **Reserves policy** 

Notes 18 to 21 of the financial statements show the assets and liabilities attributable to the various funds by type, describe the various Trusts and summarise the year’s movement on each fund. 

We have a strong balance sheet with debt of £1.9m. Total funds held at 31 August 2022 £28,438,144 (2021 - £27,578,290). Total unrestricted funds (which exclude endowed and restricted funds) at the end of the year totalled £25,890,634 (2021 - £25,096,639). These unrestricted funds include freehold property to the value of £23,352,793, investment property £1,496,373 and stock market investments £413,370 which can only be realised through disposal. Restricted and endowed funds held at 31 August 2022 £2,547,510 (2021 – 2,481,651). 

We maintain medium and long-range financial forecasts that take into account sensitivity to internal and external factors in determining the level of free reserves required. Our forecasts show that we can fund our short-term campus investment plans through working capital without any additional need for medium or long-term borrowing. 

20 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

The Trustees will ensure that we hold a level of free cash reserves and, taking a pragmatic risk based approach, will ensure reserves are sufficient to ensure flexibility and liquidity and take account of proposed capital investment to maintain the highest standard of educational provision for our pupils. 

We will continue our cost control programme across all areas of the School to ensure that we can maximise the funds available to be spent on teaching and learning. This has been a success to date and improved budget procedures have created a framework within which we can measure, compare and question expenditure to ensure value and priority. 

## **Future Plans** 

The St Peter’s Leadership Team and Governors will continue to work together throughout 2022/2023 to implement the long-term structure and strategy of the whole school. We continue to focus on Educational Excellence and Future Affordability as our two main strategic aims. Important to this process will be the implementation of the first phase in our campus masterplan, currently awaiting planning permission. 

We will continue to capitalise on the huge advantages of being a 2-18 school, committed to providing excellent age-appropriate education across our schools within the distinctive whole school community that is St Peter’s. 

We have much to celebrate and extraordinarily strong foundations on which to build as we move towards the 1,400[th] anniversary of the founding of our school in 2027. 

21 



**ST PETER’S SCHOOL, YORK DIRECTORS’ AND TRUSTEES’ REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Statement of Directors’ and Trustees’ responsibilities** 

Company and charity law requires the Directors and Trustees respectively to prepare financial statements for each financial year which give a true and fair view of the charitable company’s state of affairs at the end of year and of its financial activities for that year. 

In preparing the accounts the Directors and Trustees follows best practice and: 

- select suitable accounting policies and apply them consistently, 

- make judgements and estimates that are reasonable and prudent, 

- follow applicable accounting standards and the Charities SORP disclosing and explaining any departures in the accounts, and 

- prepare the accounts on a going-concern basis unless it is inappropriate to presume that the School will continue in operation. 

The Directors and Trustees are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the School at any time, and to enable them to ensure that the accounts comply with charity law. They are also responsible for safeguarding the School’s assets and ensuring their proper application in accordance with charity law and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities. 

In so far as the Directors and Trustees are aware: 

- There is no relevant information of which the School’s auditor is unaware; and 

- The Directors and Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

The Directors’ and Trustees’ Report and Strategic Report are approved on behalf of the Trustees on 29 March 2023 and signed on its behalf by: 

W Woolley (Chairman) 

22 



**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **ST PETER’S SCHOOL, YORK** 

## **OPINION** 

We have audited the financial statements of St Peter’s School, York (the 'parent charitable company') and its subsidiaries (the ‘group’) for the year ended 31 August 2022, which comprise the Consolidated Statement of Financial Activities and Income and Expenditure Account, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and the related notes, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 August 2022 and of the group’s incoming resources and application of resources for the year then ended; 

- • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **BASIS OF OPINION** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **CONCLUSIONS RELATING TO GOING CONCERN** 

In auditing the financial statements, we have concluded that the trustees’/director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

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

23 



**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **ST PETER’S SCHOOL, YORK** 

## **OTHER INFORMATION** 

The trustees/directors are responsible for the other information contained within the annual report. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006** 

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

- the information given in the Trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the Trustees' report has been prepared in accordance with applicable legal requirements. 

## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report. 

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

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of directors' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **RESPONSIBILITIES OF DIRECTORS** 

As explained more fully in the Trustees' responsibilities statement on page 22, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

24 



**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **ST PETER’S SCHOOL, YORK** 

## **AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were Employment legislation, Charity Commission regulations and General Data Protection Regulation (GDPR). 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and income recognition. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, proof in total testing of fee income, detailed substantive testing on the completeness of other sources of income, reviewing regulatory correspondence and reading minutes of meetings of those charged with governance. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.  We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations. 

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

25 



**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **ST PETER’S SCHOOL, YORK** 

## **USE OF OUR REPORT** 

This report is made solely to the charitable company's members in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members for our audit work, for this report, or for the opinions we have formed. 

...................................... 

Sarah Wearing (Senior Statutory Auditor) 

For and on behalf of HPH, Statutory Auditor 

54 Bootham York YO30 7XZ 

Date: 

26 



## **ST PETER'S SCHOOL, YORK** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022** 

|||**Unrestricted**|**funds**|**Restricted**|**Endowed**|**Total**|**_Total_**|
|---|---|---|---|---|---|---|---|
||**Note**|**School**|**Other**|**funds**|**Funds**|**2022**|**_2021_**|
|||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|**Income and endowments from:**||||||||
|**Charitable activities**||||||||
|School fees receivable|2|19,873,688|-|-|-|**19,873,688**|_18,661,125_|
|Other income|3|25,797|-|-|-|**25,797**|_193,510_|
|**Other trading activities**||||||||
|Non-ancillary trading income|4|-|299,046|-|-|**299,046**|_219,397_|
|Other activities|4|25,173|-|-|-|**25,173**|_29,101_|
|**Investments**||||||||
|Investment income|5|-|3,257|42,321|-|**45,578**|_52,648_|
|Bank and other interest|6|32,336|-|-|-|**32,336**|_1,574_|
|**Voluntary sources**||||||||
|Donations and legacies||136,184|-|283,777|-|**419,961**|_129,437_|
|**Total**||£ 20,093,178|£ 302,303|£ 326,098|£ -|**£ 20,721,579**|_£ 19,286,792_|
|**Expenditure on:**||||||||
|**Raising funds**||||||||
|Non-ancillary trading|7|-|172,918|-|-|**172,918**|_142,765_|
|Other income-generating activities|7|407,007|418|5,725|8,893|**422,043**|_203,719_|
|Financing costs||85,684|-|-|-|**85,684**|_33,322_|
|**Total deductible costs**||492,691|173,336|5,725|8,893|**680,645**|379,806|
|**Charitable Activities**||||||||
|Education and grant making|7|18,925,096|-|65,720|-|**18,990,816**|_17,839,693_|
|**Total**||£ 19,417,787|£ 173,336|£ 71,445|£ 8,893|**£ 19,671,461**|£ 18,219,499|
|**Net income/(expenditure) and**||||||||
|**net movement in funds before**||||||||
|**(losses)/gains on investments**||675,391|128,967|254,653|(8,893)|**1,050,118**|_1,067,293_|
|(Losses)/gains on investments|10|-|(10,363)|(73,054)|(106,847)|**(190,264)**|_219,616_|
|**Net income/(expenditure)**||675,391|118,604|181,599|(115,740)|**859,854**|1,286,909|
|Transfers between funds|22|(77,995)|77,995|-|-|**-**|_-_|
|**Net movement in funds**||597,396|196,599|181,599|(115,740)|**859,854**|1,286,909|
|**Reconciliation of funds:**||||||||
|Total funds brought forward||24,310,380|786,259|1,158,044|1,323,607|**27,578,290**|_26,291,381_|
|**Total funds carried forward**||**£ 24,907,776**|**£ 982,858**|**£ 1,339,643**|**£ 1,207,867**|**£ 28,438,144**|£ 27,578,290|



_The notes on pages 30 to 46 form part of these financial statements._ 

_Incoming resources and net movement in funds derive wholly from continuing operations._ 

27 



## **ST PETER'S SCHOOL, YORK BALANCE SHEETS AS AT 31 AUGUST 2022** 

## **Registration number: 06927030** 

||**Note**|**Consolidated**|**Consolidated**|**School**|**only**|
|---|---|---|---|---|---|
|||**2022**|**_2021_**|**2022**|**_2021_**|
|||**_£_**|**_£_**|**_£_**|**_£_**|
|**FIXED ASSETS**||||||
|Tangible fixed assets|9|**26,629,694**|_26,274,744_|**26,629,694**|_26,274,744_|
|Investments|10|**2,019,997**|_2,210,261_|**2,020,002**|_2,210,266_|
|||**28,649,691**|_28,485,005_|**28,649,696**|_28,485,010_|
|**CURRENT ASSETS**||||||
|Stocks|11|**55,125**|_53,267_|**55,125**|_53,267_|
|Debtors|12|**351,870**|_324,157_|**345,359**|_315,420_|
|Cash at bank and in hand||**9,745,199**|_8,737,942_|**9,745,199**|_8,737,942_|
|||**10,152,194**|_9,115,366_|**10,145,683**|_9,106,629_|
|**CREDITORS: amounts falling due**||||||
|**within one year**|13|**(9,085,964)**|_(8,077,637)_|**(9,079,458)**|_(8,068,905)_|
|||**1,066,230**|_1,037,729_|**1,066,225**|_1,037,724_|
|**TOTAL ASSETS LESS CURRENT**||||||
|**LIABILITIES**||**29,715,921**|_29,522,734_|**29,715,921**|_29,522,734_|
|**CREDITORS: amounts falling**||||||
|**due after more than one year**|14|**(1,277,777)**|_(1,944,444)_|**(1,277,777)**|_(1,944,444)_|
|**TOTAL NET ASSETS**||**£ 28,438,144**|_£ 27,578,290_|**£ 28,438,144**|_£ 27,578,290_|
|**REPRESENTED BY**||||||
|Endowed funds|19|**1,207,867**|_1,323,607_|**1,207,867**|_1,323,607_|
|Restricted funds|18|**1,339,643**|_1,158,044_|**1,339,643**|_1,158,044_|
|Unrestricted funds|20|**25,890,634**|_25,096,639_|**25,890,634**|_25,096,639_|
|||**£ 28,438,144**|_£ 27,578,290_|**£ 28,438,144**|_£ 27,578,290_|



_The notes on pages 30 to 46 form part of these financial statements._ 

_Approved on behalf of the Trustees on 29 March 2023 and signed on their behalf by:_ 

W Woolley 

P B Hilling 

28 



**ST PETER'S SCHOOL, YORK CONSOLIDATED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2022** 

|**Note**<br>**Cash flows from operating activities:**<br>**Net cash provided by operating activities**<br>17<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from investments<br>Purchase of property, plant and equipment<br>Proceeds from sale of property, plant and equipment<br>Purchase of investments<br>**Net cash used in investing activities**<br>**Cash flows from financing activities:**<br>Repayments of borrowing<br>Interest paid<br>**Net cash used in financing activities**<br>**Change in cash and cash equivalents in the**<br>**reporting period**<br>**Cash and cash equivalents at the beginning of**<br>**the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**2022**<br>**_£_**<br>**3,088,176**<br>**77,914**<br>**(1,433,858)**<br>**2,344**<br>**-**<br>**(1,353,600)**<br>**(666,667)**<br>**(60,652)**<br>**(727,319)**<br>**1,007,257**<br>**8,737,942**<br>**£ 9,745,199**|**_2021_**<br>**_£_**<br>_2,622,749_<br>_54,222_<br>_(1,309,677)_<br>_2,300_<br>_(143,646)_|
|---|---|---|
|||_(1,396,801)_<br>_(388,889)_<br>_(6,455)_|
|||_(395,344)_<br>_830,604_<br>_7,907,338_|
|||_£ 8,737,942_|



Charity law requires separate administration of the cashflows of endowed and other restricted funds of the School. This constraint has not adversely affected group cashflows as stated above. 

_The notes on pages 30 to 46 form part of these financial statements_ 

29 



**ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1 ACCOUNTING POLICIES** 

## **Legal entity** 

St Peter's School, York is regulated by the Charities Commission (1141329), limited by guarantee and is registered in England and Wales. The address of the registered office and principal place of business is St Peter's School, Clifton, York, YO30 6AB. 

The School constitutes a public benefit entity as defined by FRS 102. 

## **Basis of preparation** 

The accounts have been prepared under the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice ("SORP(FRS102)") and Financial Reporting Standard 102. The accounts are drawn up on the historical cost basis of accounting as modified by the revaluation of investments. 

The consolidated accounts include the results of St Peter's School, York and St Peter's School Commercial Company 2016 Limited, which are consolidated on a line by line basis. In accordance with section 408 of the Companies Act 2006, no separate Statement Of Financial Activities (SOFA) has been presented for the School alone. 

The Governors have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the School to continue in operational existence for the foreseeable future, and have adequate contingency plans in the event that income streams are reduced. Consequently the financial statements have been prepared on the basis that the School is a going concern. 

## **Fees and other income** 

Fees receivable, charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the School, but include contributions received from restricted funds for scholarships, bursaries and other grants. 

## **Donations** 

Donations receivable for the general purpose of the School are credited to "other unrestricted funds", to distinguish them from direct school income. Donations for purposes restricted by the wishes of the donor are taken to "restricted funds" where these wishes are legally binding on the School Governors, except that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for instead as endowments - permanent or expendable according to the nature of the restriction. 

## **Other trading activities** 

All other incoming resources are included in the SOFA when the School is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

## **Expenditure** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Longer-term liabilities are discounted to present value. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff time or space occupied, as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates. 

30 



**ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1 ACCOUNTING POLICIES (continued)** 

Governance costs are costs associated with constitutional and statutory requirements. They include audit fees and estimated costs linked to the strategic management of the School. Support costs are those incurred directly in support of expenditure on the objects of the School. 

## **Tangible fixed assets** 

Alteration and improvement expenditure on freehold property is treated as capital if it results in additional floor area for use of the School. Major repair work to the structure of a property is also treated as capital. Other costs are charged to revenue as maintenance of buildings. 

Other fixed assets costing more than £1,000 are included at cost including any incidental expenses of acquisition. 

## **Depreciation** 

Depreciation is calculated to write off the cost of fixed assets over their expected useful lives on a straight line basis. The rates used are as follows: 

Non-teaching equipment 20% per annum straight line Teaching equipment 20% per annum straight line IT and computers over 4 years School vehicles 20% per annum straight line Freehold property over 50 years 

## **Investment properties** 

Investment properties are held for long-term investment, and are accounted for as follows: 

No depreciation is provided in respect of investment properties. The fair value is reviewed annually with any movement taken to the SOFA. 

This treatment as regards investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the Governors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. 

## **Fixed asset investments** 

Quoted investments are included at closing mid-market value at the balance sheet date. Unquoted investments are stated at cost less any permanent diminution in the value. Any gain or loss on revaluation is taken to the SOFA. Investment income is accounted for in the period in which the School is entitled to receipt. 

## **Stocks** 

Stocks are stated at the lower of cost and net realisable value. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and any short term deposit accounts with a maturity of three months or less from the date of opening. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

Where the School has received tuition fees in advance the amount is treated as deferred income until the pupil joins the School whereupon the fees for each school term are charged against the remaining balance and taken into income. Any shortfall is treated as a deduction from school fee income and any excess accrued is treated as additional school income. 

31 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1 ACCOUNTING POLICIES (continued)** 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **Funds Structure** 

## Unrestricted funds 

Funds which have not been designated for other purposes, and are available for use at the discretion of the Governors in accordance with the Charitable objectives. 

## Designated funds 

These are unrestricted funds earmarked by the Governors for particular purposes. 

## Restricted funds 

These are funds to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. 

## Permanent endowment funds 

These represent those assets which must be held permanently by the School, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the School and is included as restricted income. Any capital gains/losses arising on the investments form part of the fund. 

## Expendable endowment funds 

These are funds where the the trustees have the power to convert the property (ie land, buildings, investments or cash) into ‘income’. 

## **Leases** 

Assets purchased under finance leases are capitalised as fixed assets. Obligations under such agreements are included in creditors. 

Rentals payable under operating leases are charged to the SOFA evenly over the period of the lease. 

## **Pensions** 

The School contributes to the Teachers' Pension Defined Benefit Scheme at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multi employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the School. In accordance with FRS102 therefore, the scheme is accounted for as a defined contribution scheme. The School also contributes to The Pensions Trust Retirement Solutions Flexible Retirement Plan, an occupational defined contribution scheme, for administration staff. Contributions are charged to the income and expenditure account in the year in which they accrue. 

|**2 CHARITABLE ACTIVITIES - FEES RECEIVABLE**<br>**Fees receivable consist of:**<br>Gross fees<br>Less: Scholarships, bursaries and remissions|**2022**<br>**_£_**<br>21,127,718<br>(1,254,030)<br>£ 19,873,688|**_2021_**<br>**_£_**<br>19,657,090<br>(995,965)|
|---|---|---|
|||_£ 18,661,125_|



The above educational awards were made to 124 individuals (2021: 112) 

32 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **3 CHARITABLE ACTIVITIES - OTHER INCOME** 

|**3 CHARITABLE ACTIVITIES - OTHER INCOME**<br>Registration fees<br>Government grant income<br>**4 OTHER TRADING ACTIVITIES**<br>**Trading income**<br>St Peter's School Commercial Company<br>**Other activities**<br>Sundry income<br>**5 INVESTMENT INCOME**<br>**Securities investment income:**<br>Equities<br>**6 BANK AND OTHER INTEREST**<br>Bank interest|**2022**<br>**_£_**<br>25,797<br>-<br>£ 25,797<br>**2022**<br>**_£_**<br>299,046<br>£ 25,173<br>**2022**<br>**_£_**<br>45,578<br>**2022**<br>**_£_**<br>32,336<br>£ 32,336|**_2021_**<br>**_£_**<br>_31,491_<br>_162,019_|
|---|---|---|
|||_£ 193,510_|
|||**_2021_**<br>**_£_**<br>_219,397_|
|||_£ 29,101_|
|||**_2021_**<br>**_£_**<br>_52,648_|
|||**_2021_**<br>**_£_**<br>_1,574_|
|||_£ 1,574_|



**7 ANALYSIS OF EXPENDITURE** 

||**Staff**|||**Total**|**_Total_**|
|---|---|---|---|---|---|
||**costs**|**Other**|**Depreciation**|**2022**|**_2021_**|
|**Raising funds**|**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|Trading costs|24,711|148,207|-|172,918|_142,765_|
|Marketing and publicity|186,703|54,464|-|241,167|_203,719_|
|Investment|-|15,036|-|15,036|_13,564_|
|Fundraising consultants fees|-|165,840|-|165,840|_-_|
|**Total raising funds**|211,414|383,547|-|594,961|_360,048_|
|**Charitable expenditure**||||||
|**_Education and grant making_**||||||
|Teaching|9,573,321|1,132,751|33,363|10,739,435|_9,864,462_|
|Welfare|1,924,207|699,487|28,479|2,652,173|_2,414,778_|
|Premises repair and maintenance|847,014|1,344,914|741,449|2,933,377|_2,928,265_|
|Support costs and governance|1,366,321|708,399|432,029|2,506,749|_2,464,558_|
|Grants, awards and prizes|-|65,719|-|65,719|_90,975_|
|Foundation expenses|93,363|-|-|93,363|_76,655_|
|**Total charitable expenditure**|13,804,226|3,951,270|1,235,320|18,990,816|_17,839,693_|
|**Total expended**|£ 14,015,640|£ 4,334,817|£ 1,235,320|£ 19,585,777|_£ 18,199,741_|



33 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

|**7 ANALYSIS OF TOTAL EXPENDITURE (continued)**<br>**Governance costs included in support costs:**<br>Auditor's remuneration:<br>for audit services<br>**Finance and other costs**<br>Bank charges<br>Loan interest<br>**8 STAFF COSTS AND NUMBERS**<br>Wages and salaries<br>Social security costs<br>Pension costs|**2022**<br>**_£_**<br>£ 17,922<br>25,032<br>60,652<br>£ 85,684<br>10,883,455<br>1,102,971<br>2,029,214<br>£ 14,015,640|**_2021_**<br>**_£_**<br>£ 17,242|
|---|---|---|
|||_13,162_<br>_6,596_|
|||_£ 19,758_|
|||_10,429,524_<br>_1,009,782_<br>_1,908,730_|
|||_£ 13,348,036_|



The key management personnel of the charity, comprise the Whole School Leadership Team and the Directors and Trustees. The total employee benefits of the key management personnel of the charity were £862,138 (2021: £854,924). 

During the year the School made termination payments under settlement agreements totalling £29,903 (2021: £3,200) in respect of three (2021: one) former employees. 

|**Employees earning over £60,000 during the year**|||
|---|---|---|
|£200,000 - £210,000|1|-|
|£180,000 - £190,000|-|1|
|£130,000 - £140,000|1|-|
|£120,000 - £130,000|-|1|
|£90,000 - £100,000|1|1|
|£80,000 - £90,000|1|2|
|£70,000 - £80,000|3|2|
|£60,000 - £70,000|6|7|



9 employees above have retirement benefits accruing under a defined benefit scheme. 

The average monthly head count was 433 staff (2021: 412) and the average monthly number of full-time equivalent employees during the year were as follows: 

|Marketing and publicity<br>Teaching<br>Welfare<br>Premises<br>Support|4<br>186<br>69<br>29<br>43<br>331|3<br>167<br>67<br>32<br>39|
|---|---|---|
|||_308_|



34 



## **ST PETER'S SCHOOL, YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **9 TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**||||||||
|---|---|---|---|---|---|---|---|
|**Consolidated and School**<br>Cost:<br>At 1 September 2021<br>Additions<br>Disposals<br>Reclassification<br>At 31 August 2022<br>Depreciation:<br>At 1 September 2021<br>Charge for the year<br>Disposals<br>At 31 August 2022<br>Net book values:<br>31 August 2022<br>_31 August 2021_|**Freehold**<br>**Property**<br>**_£_**<br>29,268,826<br>1,147,039<br>-<br>(1,980)<br>30,413,885<br>6,319,643<br>741,449<br>-<br>7,061,092<br>£ 23,352,793<br>_£ 22,949,183_|**Investment**<br>**Properties**<br>**_£_**<br>1,496,373<br>-<br>-<br>-<br>1,496,373<br>-<br>-<br>-<br>-<br>£ 1,496,373<br>_£ 1,496,373_|**Non-Teaching**<br>**Equipment**<br>**_£_**<br>4,519,740<br>59,988<br>(2,340)<br>-<br>4,577,388<br>3,230,339<br>203,119<br>(2,340)<br>3,431,118<br>£ 1,146,270<br>_£ 1,289,401_|**Teaching**<br>**Equipment**<br>**_£_**<br>2,110,302<br>29,795<br>(13,983)<br>-<br>2,126,114<br>1,990,500<br>33,363<br>(13,983)<br>2,009,880<br>£ 116,234<br>_£ 119,802_|**IT and**<br>**Computers**<br>**_£_**<br>3,526,030<br>305,063<br>-<br>1,980<br>3,833,073<br>3,149,819<br>228,910<br>-<br>3,378,729<br>£ 454,344<br>_£ 376,211_|**Vehicles**<br>**_£_**<br>328,797<br>48,385<br>(9,600)<br>-<br>367,582<br>285,023<br>28,479<br>(9,600)<br>303,902<br>£ 63,680<br>_£ 43,774_|**Total**<br>**_£_**<br>41,250,068<br>1,590,270<br>(25,923)<br>-|
||||||||42,814,415|
||||||||14,975,324<br>1,235,320<br>(25,923)|
||||||||16,184,721|
||||||||£ 26,629,694|
||||||||_£ 26,274,744_|



Freehold land and buildings are carried at cost.  The Governors consider the market value of the properties, at 31 August 2022, to be well in excess of the carrying value in the accounts. Due to the costs involved in obtaining a professional valuation of the freehold land and buildings it has not been practicable to quantify the difference. All fixed assets are held for own use on direct charitable activities. 

35 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **10 FIXED ASSET INVESTMENTS** 

|**Unrestricted**<br>**_£_**<br>**Consolidated**<br>Balance at 1 September 2021<br>494,154<br>Revaluation<br>(80,784)<br>Balance at 31 August 2022<br>£ 413,370<br>Quoted UK Securities<br>413,370<br>£ 413,370<br>The historical cost of the above investments amounts to:<br>**School**<br>As above<br>St Peter's School subsidiary companies|**Restricted**<br>**_£_**<br>392,698<br>(2,633)<br>£ 390,065<br>390,065<br>£ 390,065|**Endowment**<br>**_£_**<br>1,323,409<br>(106,847)<br>£ 1,216,562<br>1,216,562<br>£ 1,216,562|**Total**<br>**_£_**<br>2,210,261<br>(190,264)|
|---|---|---|---|
||||£ 2,019,997|
||||2,019,997|
||||£ 2,019,997|
||||£ 1,579,201|
||||2,019,997<br>5|
||||£ 2,020,002|



The following material investments are over 5% by value of the investments held 

|Sarasin & Partners managed funds<br>**11 STOCKS**<br>**Consolidated and School**<br>Teaching requisites<br>Groceries<br>Stores<br>Old Peterite Stock|**2022**<br>**Market value**<br>**_£_**<br>1,875,560<br>£ 1,875,560<br>**2022**<br>**_£_**<br>34,702<br>5,759<br>5,350<br>9,314<br>£ 55,125|**_2021_**<br>**_Market value_**<br>**_£_**<br>_2,067,434_|
|---|---|---|
|||_£ 2,067,434_|
|||**_2021_**<br>**_£_**<br>_34,356_<br>_5,548_<br>_2,747_<br>_10,616_|
|||_£ 53,267_|



36 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

|**2022**<br>**_2021_**<br>**_£_**<br>**_£_**<br>**12 DEBTORS**<br>Trade debtors<br>90,255<br>_95,107_<br>Sundry debtors<br>66,853<br>_48,444_<br>Prepayments<br>194,762<br>_180,606_<br>Amounts due from subsidiary undertakings<br>-<br>_-_<br>£ 351,870<br>_£ 324,157_<br>**13**<br>**CREDITORS amounts falling due within one year**<br>Bank loan<br>666,667<br>_666,667_<br>Trade creditors<br>694,336<br>_459,736_<br>Taxation and social security<br>293,137<br>_266,790_<br>Other creditors<br>222,742<br>_185,439_<br>Pension creditor<br>242,359<br>_227,957_<br>Fees received in advance<br>5,448,038<br>_4,747,350_<br>Returnable deposits<br>968,150<br>_1,072,656_<br>Accruals<br>550,535<br>_451,042_<br>Amounts due to subsidiary undertakings<br>-<br>_-_<br>£ 9,085,964<br>_£ 8,077,637_<br>**14 CREDITORS amounts falling due after more than one year**<br>Bank loan<br>1,277,777<br>_1,944,444_<br>£ 1,277,777<br>_£ 1,944,444_<br>**Amounts due after more than one year:**<br>Repayable between 1 - 2 years<br>666,667<br>_666,667_<br>Repayable between 2 - 5 years<br>611,110<br>_1,277,777_<br>£ 1,277,777<br>_£ 1,944,444_<br>**Consolidated**|**2022**<br>**_2021_**<br>**_£_**<br>**_£_**<br>24,506<br>_51,977_<br>66,853<br>_48,444_<br>194,762<br>_180,606_<br>59,238<br>_34,393_<br>£ 345,359<br>_£ 315,420_<br>666,667<br>_666,667_<br>694,336<br>_459,736_<br>293,137<br>_266,790_<br>222,742<br>_185,439_<br>242,359<br>_227,957_<br>5,448,038<br>_4,747,350_<br>968,150<br>_1,072,656_<br>544,024<br>_442,305_<br>5<br>_5_<br>£ 9,079,458<br>_£ 8,068,905_<br>1,277,777<br>_1,944,444_<br>£ 1,277,777<br>_£ 1,944,444_<br>666,667<br>_666,667_<br>611,110<br>_1,277,777_<br>£ 1,277,777<br>_£ 1,944,444_<br>**School**|**2022**<br>**_2021_**<br>**_£_**<br>**_£_**<br>24,506<br>_51,977_<br>66,853<br>_48,444_<br>194,762<br>_180,606_<br>59,238<br>_34,393_<br>£ 345,359<br>_£ 315,420_<br>666,667<br>_666,667_<br>694,336<br>_459,736_<br>293,137<br>_266,790_<br>222,742<br>_185,439_<br>242,359<br>_227,957_<br>5,448,038<br>_4,747,350_<br>968,150<br>_1,072,656_<br>544,024<br>_442,305_<br>5<br>_5_<br>£ 9,079,458<br>_£ 8,068,905_<br>1,277,777<br>_1,944,444_<br>£ 1,277,777<br>_£ 1,944,444_<br>666,667<br>_666,667_<br>611,110<br>_1,277,777_<br>£ 1,277,777<br>_£ 1,944,444_<br>**School**|
|---|---|---|
|||_£ 315,420_|
|||_666,667_<br>_459,736_<br>_266,790_<br>_185,439_<br>_227,957_<br>_4,747,350_<br>_1,072,656_<br>_442,305_<br>_5_|
|||_£ 8,068,905_|
|||_1,944,444_|
|||_£ 1,944,444_|
|||_666,667_<br>_1,277,777_|
|||_£ 1,944,444_|



The bank loan facility is secured by an EFG Guarantee, such security and guarantees and other supporting collateral as are now and as may in the future be held by the Bank in support of the Borrower’s obligations to the Bank and a first and only debenture over all the property, assets and undertaking (including uncalled capital) from time to time of the Borrower. 

The interest rate on the loan is 2.06% over the Bank of England's base rate. 

## **15 DEFERRED INCOME** 

|**Fees received in advance**<br>Balance at 1 September<br>Released to statement of financial activities<br>Deferred in the period<br>Balance at 31 August|4,747,350<br>(4,747,350)<br>_-_<br>5,448,038<br>£ 5,448,038|_4,484,963_<br>_(4,484,963)_<br>_-_<br>_4,747,350_<br>_£ 4,747,350_|4,747,350<br>(4,747,350)<br>_-_<br>5,448,038<br>£ 5,448,038|_4,484,963_<br>_(4,484,963)_|
|---|---|---|---|---|
|||||_-_<br>_4,747,350_|
|||||_£ 4,747,350_|



37 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **16 PENSION SCHEMES** 

- a) The School participates in the Teachers' Pension Scheme (England and Wales) ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,502,393 (2021: £1,431,031) and at the yearend £173,503 (2021: £166,819) was accrued in respect of contributions to this scheme. 

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

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, confirmed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.68%. 

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

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

The TPS is subject to a cost cap mechanism which was put in place to protect taxpayers against unforeseen changes in scheme costs. The Chief Secretary to the Treasury, having in 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal’s ruling in the McCloud/Sargeant case and until there is certainty about the value of pensions to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the cost control mechanism following a review by the Government Actuary. The consultation closed to response on 19 August 2021 and the Government is currently analysing the responses. 

In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance with revised benefits and suitably revised assumptions would yield different results than those contained in the Actuarial Valuation. 

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

The School also operates an Additional Voluntary Contribution (AVC) Scheme for teaching staff who want to make extra contributions to their pension. These additional pension contributions are collected by the School and paid to the Scheme. The amount due to be paid over at the year end was £906 (2020: £906). 

## b) **The Pensions Trust Retirement Solutions - Flexible Retirement Plan (Support staff)** 

The School participates in the above scheme with The Pensions Trust Retirement Solutions Flexible Retirement Plan, which is an occupational defined contribution scheme. The pension charge for the year includes contributions payable to the scheme of £551,558 (2021: £472,149). At the year-end £67,943 (2021: £60,232) was accrued in respect of contributions to this scheme. 

38 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

||||**2022**|**_2021_**|
|---|---|---|---|---|
||||**_£_**|**_£_**|
|**17**|**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES**||||
||**Net income for the reporting period**||859,854|_1,286,909_|
||**Adjustments for:**||||
||Depreciation charges||1,235,320|_1,181,937_|
||Gains on investments||190,264|_(219,616)_|
||Dividends, interest and rents from investments||(77,914)|_(54,222)_|
||Bank interest paid||60,652|_6,455_|
||Profit on sale of assets||(2,344)|_(2,300)_|
||Increase in stock||(1,858)|_(14,531)_|
||(Increase)/decrease in debtors||(27,713)|_33,246_|
||Increase in creditors||851,915|_404,871_|
||Net cash provided by operating activities||£ 3,088,176|_£ 2,622,749_|
||**ANALYSIS OF CASH AND CASH EQUIVALENTS**||||
||Cash at bank and in hand||9,745,199|_8,737,942_|
||**Total cash and cash equivalents**||_£ 9,745,199_|_£ 8,737,942_|
||**ANALYSIS OF CHANGES IN NET DEBT**||||
|||**At**||**At**|
|||**1 Sept 21**|**Cash-flows**|**31 Aug 22**|
|||**_£_**|**_£_**|**_£_**|
||Cash|8,737,942|1,007,257|9,745,199|
||Loans falling due within one year|(666,667)|-|(666,667)|
||Loans falling due after more than one year|(1,944,444)|666,667|(1,277,777)|
|||6,126,831|1,673,924|7,800,755|



39 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

|**18 RESTRICTED FUNDS**<br>Extraordinary repair fund<br>Prize fund<br>Scholarships<br>Edward Long Trust Fund<br>Robin Shannon Memorial Prize<br>T S Pick Competitors Fund<br>Peter Taylor Community Trust Fund<br>Shepherd Group Bursary Fund<br>Phillip Harris Chemistry Bursary<br>York Bursary Fund<br>St Peter' School Foundation Bursary Fund<br>The 627 Bursary Fund<br>York OP Lifetime Bursary Fund<br>Coles Family Bursary<br>Donald Shepherd Bursary<br>David Ord Bursary<br>York OP General Fund<br>Marlene Sandor Bursary Fund<br>Keys for Life Bursary Fund<br>Extraordinary repair fund<br>Prize fund<br>Scholarships<br>Edward Long Trust Fund<br>Robin Shannon Memorial Prize<br>T S Pick Competitors Fund<br>Peter Taylor Community Trust Fund<br>Shepherd Group Bursary Fund<br>Phillip Harris Chemistry Bursary<br>York Bursary Fund<br>St Peter' School Foundation Bursary Fund<br>627 Bursary Fund<br>York OP Lifetime Bursary Fund<br>Coles Family Bursary<br>Donald Shepherd Bursary<br>David Ord Bursary<br>Boat House campaign<br>Clifton Dining Room Garden fund<br>York OP General Fund|**Balance at**<br>**1 Sept 21**<br>**_£_**<br>406,960<br>41,424<br>501<br>-<br>2,115<br>5,981<br>6,640<br>18,281<br>5,143<br>10,000<br>202,871<br>291,361<br>30,614<br>18,581<br>5,700<br>44,994<br>66,878<br>-<br>-|**Income**<br>**_£_**<br>13,977<br>2,642<br>4,798<br>14,178<br>45<br>382<br>-<br>2,230<br>8<br>-<br>9,651<br>39,378<br>-<br>39<br>8,635<br>6,868<br>-<br>753<br>222,514<br>£ 326,098<br>**Income**<br>**_£_**<br>13,962<br>3,077<br>5,491<br>14,393<br>46<br>392<br>-<br>2,286<br>1<br>-<br>12,955<br>42,193<br>-<br>6<br>5,700<br>6,328<br>1,072<br>-<br>1<br>£ 107,903|**Expended**<br>**_£_**<br>(2,993)<br>(817)<br>(4,644)<br>(14,178)<br>(10)<br>-<br>-<br>-<br>(2,713)<br>-<br>(2,085)<br>(25,582)<br>-<br>(13,566)<br>-<br>-<br>(4,104)<br>(753)<br>-|**Investments**<br>**losses**<br>**_£_**<br>(42,045)<br>(4,280)<br>-<br>-<br>(125)<br>-<br>-<br>-<br>-<br>-<br>(26,604)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Transfers**<br>**_£_**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Balance at**<br>**31 Aug 22**<br>**_£_**<br>375,899<br>38,969<br>655<br>-<br>2,025<br>6,363<br>6,640<br>20,511<br>2,438<br>10,000<br>183,833<br>305,157<br>30,614<br>5,054<br>14,335<br>51,862<br>62,774<br>-<br>222,514|
|---|---|---|---|---|---|---|
||£ 1,158,044||£ (71,445)|£ (73,054)|£ -|£ 1,339,643|
||**Balance at**<br>**1 Sept 20**<br>**_£_**<br>352,435<br>37,503<br>391<br>-<br>1,948<br>5,589<br>6,640<br>15,995<br>7,761<br>10,000<br>165,447<br>273,859<br>30,614<br>46,820<br>-<br>38,666<br>38,169<br>15,000<br>66,877||**Expended**<br>**_£_**<br>(2,849)<br>(3,776)<br>(5,381)<br>(14,393)<br>(9)<br>-<br>-<br>-<br>(2,619)<br>-<br>(3,132)<br>(24,691)<br>-<br>(28,245)<br>-<br>-<br>(1,072)<br>(15,000)<br>-|**Investments**<br>**gains**<br>**_£_**<br>43,412<br>4,620<br>-<br>-<br>130<br>-<br>-<br>-<br>-<br>-<br>27,601<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Transfers**<br>**_£_**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(38,169)<br>-<br>-|**Balance at**<br>**31 Aug 21**<br>**_£_**<br>406,960<br>41,424<br>501<br>-<br>2,115<br>5,981<br>6,640<br>18,281<br>5,143<br>10,000<br>202,871<br>291,361<br>30,614<br>18,581<br>5,700<br>44,994<br>-<br>-<br>66,878|
||£ 1,113,714||£ (101,167)|£ 75,763|£ (38,169)|£ 1,158,044|



40 



**ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **18 RESTRICTED FUNDS (continued)** 

## Extraordinary Repair Fund 

The repair fund represents investments held to be used for extraordinary repairs needed by the School. 

## Prize Fund 

The prize fund represents a fund set up by individual donors to be used for prize giving. 

## Scholarships 

Scholarships consists of a number of individual trust and prize funds set up by individual donors. Each trust is allocated its proportion of investment income and gains and losses and bears its own expenses. 

## Edward Long Trust Fund 

The Edward Long Trust Fund is a subsidiary charity of the School. A scholarship may be awarded annually to a student at St Peter's School entering any University or other institution for the purpose of studying music. Two scholarships may be awarded annually to pupils entering St Peter's School. 

## Robin Shannon Memorial Prize 

The Robin Shannon Memorial Prize is a subsidiary charity of the School. It is to provide an annual prize for spoken English in the third form. 

## T S Pick Competitors Fund 

The T S Pick Competitors Fund is a subsidiary charity of the School. It is to enable pupils to compete in championships and competitions who would otherwise be barred from doing so by reason of financial circumstances. 

## Peter Taylor Community Trust Fund 

The Peter Taylor Community Trust Fund represents a fund set up to provide support in the local community by the pupils. 

## Shepherd Group Bursary Fund 

The Shepherd Group Bursary fund is for the provision of a Business Studies and Economics bursary. 

## Phillip Harris Chemistry Bursary 

The Phillip Harris Chemistry Bursary is for the provision of a Chemistry bursary. 

## York Bursary Fund 

The York Bursary Fund is for the provision of bursaries for pupils who would not otherwise be able to attend the school. St Peter's School Foundation Bursary Fund 

The St Peter's School Foundation Bursary is to fund 50% of the school fees for a child at the School for a 5 year period. The 627 Society Fund 

The 627 Society Fund is for the provision of bursaries. 

## York OP Lifetime Bursary Fund 

The York OP Lifetime Bursary Fund for boys and girls born or resident in York. 

## Coles Family Bursary Fund 

The Coles Family Bursary is to fund a 100% life time bursary for a day pupil. 

## Donald Shepherd Bursary 

The Donald Shepherd Bursary is for the provision of a bursary for a pupil aged 11 to 18. 

## David Ord Bursary 

The David Ord Bursary is for the provision of a bursary for pupils age 11 or over. 

## York OP General Fund 

Funds donated from the Old Peterite Club to be used for purposes as agreed by the Club. Marlene Sandor Bursary Fund Bursary fund for the provision of a bursary for a pupil aged 11 to 18. Keys for Life Bursary Fund 

Special initiative to enhance bursary funding in celebration of the School's 1,400th anniversary. 

41 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **19 ENDOWED FUNDS** 

||||||||
|---|---|---|---|---|---|---|
|**NDOWED FUNDS**<br>Permanent<br>Capital Recoupment fund<br>R B Daniel Fund<br>Scholarships<br>Edward Long Trust Fund<br>T S Pick Competitors Fund<br>Shepherd Group Bursary<br>Donald Shepherd Bursary<br>David Ord Bursary<br>Ian Hunter Prize<br>Expendable<br>Keys for Life Bursary Fund<br>Permanent<br>Capital Recoupment fund<br>R B Daniel Fund<br>Scholarships<br>Edward Long Trust Fund<br>T S Pick Competitors Fund<br>Shepherd Group Bursary<br>Donald Shepherd Bursary<br>David Ord Bursary<br>Ian Hunter Prize|**Balance at**<br>**1 Sept 21**<br>**_£_**<br>182,254<br>19,000<br>160,102<br>449,501<br>13,326<br>72,215<br>251,473<br>173,716<br>2,020<br>-|**Income**<br>**_£_**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Resources**<br>**expended**<br>**_£_**<br>(1,380)<br>-<br>(921)<br>(2,626)<br>(84)<br>(488)<br>(1,890)<br>(1,504)<br>-<br>-|**Investment**<br>**losses**<br>**_£_**<br>(17,601)<br>-<br>(12,851)<br>(25,773)<br>(1,067)<br>(6,230)<br>(24,133)<br>(19,192)<br>-<br>-|**Transfers**<br>**_£_**<br>-<br>-<br>-<br>-<br>-<br>-<br>(225,450)<br>(153,020)<br>-<br>378,470|**Balance at**<br>**31 Aug 22**<br>**_£_**<br>163,273<br>19,000<br>146,330<br>421,102<br>12,175<br>65,497<br>-<br>-<br>2,020<br>378,470|
||£ 1,323,607|£ -|£ (8,893)|£ (106,847)|£ -|£ 1,207,867|
||**Balance at**<br>**1 Sept 20**<br>**_£_**<br>165,315<br>19,000<br>151,656<br>392,985<br>12,299<br>66,219<br>234,923<br>156,757<br>2,020|**Income**<br>**_£_**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Resources**<br>**expended**<br>**_£_**<br>(1,321)<br>-<br>(882)<br>(2,514)<br>(80)<br>(468)<br>(1,131)<br>(1,286)|**Investment**<br>**gains**<br>**_£_**<br>18,260<br>-<br>9,328<br>59,030<br>1,107<br>6,464<br>17,681<br>18,245|**Transfers**<br>**_£_**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Balance at**<br>**31 Aug 21**<br>**_£_**<br>182,254<br>19,000<br>160,102<br>449,501<br>13,326<br>72,215<br>251,473<br>173,716<br>2,020|
||£ 1,201,174|£ -|£ (7,682)|£ 130,115|£ -|£ 1,323,607|



## Capital Recoupment Fund 

The capital recoupment fund represents recoupment of capital expenditure by order of the Charity Commission. 

## R B Daniel Fund 

The R B Daniel Fund represents a fund set up by individual donors for the purpose of adventurous activities. 

## Scholarships 

Scholarships consists of a number of individual trust and prize funds set up by individual donors. Each trust is allocated its proportion of investment income and gains and losses and bears its own expenses. 

## Edward Long Trust Fund 

The Edward Long Trust Fund is a subsidiary charity of the School. A scholarship is awarded to a student going to University or other institution to study music. Two exhibitions maintained to be awarded to a person entering as a scholar to St Peter's School. 

## T S Pick Competitors Fund 

The T S Pick Competitors Fund is a subsidiary charity of the School. It is to enable pupils to compete in championships and competitions who would otherwise be barred from doing so by reason of financial circumstances. 

## Shepherd Group Bursary 

The Shepherd Group Bursary is for the provision of a Business Studies and Economics bursary. 

## Donald Shepherd Bursary 

The Donald Shepherd Bursary is for the provision of a bursary for a pupil aged 11 to 18. During the year the trustees agreed to transfer the fund balance to the expendable Keys for Life Bursary Fund. 

## David Ord Bursary 

The David Ord Bursary is for the provision of a bursary for pupils age 11 or over. During the year the trustees agreed to transfer the fund balance to the expendable Keys for Life Bursary Fund. 

## Ian Hunter Prize 

The Ian Hunter Prize is for the provision of an award to be given to the most improved musician. 

## Keys for Life Bursary Fund 

Special initiative to enhance bursary funding in celebration of the School's 1,400th anniversary. During the year the trustees of the Donald Shepherd Bursary Fund and the David Ord Bursary Fund agreed to transfer their fund balances to the expendable Keys for Life Bursary Fund. 

42 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

|**20 UNRESTRICTED FUNDS**<br>Designated funds<br>- 2005 Bursary fund<br>- Peter Croft Bursary<br>- Keys for Life Bursary Fund<br>Undesignated funds<br>- General reserve<br>**School**<br>Non charitable trading funds<br>**Total for the group**<br>Designated funds<br>- 2005 Bursary fund<br>- Peter Croft Bursary<br>Undesignated funds<br>- General reserve<br>**School**<br>Non charitable trading funds<br>**Total for the group**|**Balance at**<br>**1 Sept 21**<br>**£**<br>589,713<br>196,546<br>-<br>786,259<br>24,310,380<br>25,096,639<br>-<br>£ 25,096,639<br>**Balance at**<br>**1 Sept 20**<br>**£**<br>525,246<br>174,380<br>699,626<br>23,276,867<br>23,976,493<br>-<br>£ 23,976,493|**Income**<br>**£**<br>-<br>3,257<br>-|**Resources**<br>**expended**<br>**£**<br>-<br>(418)<br>-|**Investment**<br>**loss**<br>**£**<br>-<br>(10,363)<br>-|**Transfers**<br>**£**<br>44,118<br>-<br>160,005|**Balance at**<br>**31 Aug 22**<br>**£**<br>633,831<br>189,022<br>160,005|
|---|---|---|---|---|---|---|
|||3,257<br>20,093,178|(418)<br>(19,417,787)|(10,363)<br>-|204,123<br>(77,995)|982,858<br>24,907,776|
|||20,096,435<br>299,046|(19,418,205)<br>(172,918)|(10,363)<br>-|126,128<br>(126,128)|25,890,634<br>-|
|||£ 20,395,481|£ (19,591,123)|£ (10,363)|£ -|£ 25,890,634|
|||**Income**<br>**£**<br>-<br>8,829|**Resources**<br>**expended**<br>**£**<br>-<br>(401)|**Investment**<br>**gain**<br>**£**<br>-<br>13,738|**Transfers**<br>**£**<br>64,467<br>-|**Balance at**<br>**31 Aug 21**<br>**£**<br>589,713<br>196,546|
|||8,829<br>18,950,663|(401)<br>(17,967,484)|13,738<br>-|64,467<br>50,334|786,259<br>24,310,380|
|||18,959,492<br>219,397|(17,967,885)<br>(142,765)|13,738<br>-|114,801<br>(76,632)|25,096,639<br>-|
|||£ 19,178,889|£ (18,110,650)|£ 13,738|£ 38,169|£ 25,096,639|



The Governors have designated funds out of the unrestricted funds for specific purposes as follows: 

## 2005 Bursary Fund 

A bursary fund to assist deserving pupils following withdrawal of the Assisted Places Scheme. 

## Peter Croft Bursary 

The funds left by the late Peter Croft will be used to award bursaries. 

## Keys for Life Bursary Fund 

Special initiative to enhance bursary funding in celebration of the School's 1,400th anniversary. 

43 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **21 ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

The net assets are held for the various funds as follows: 

|Unrestricted funds<br>Restricted funds<br>Endowed funds<br>Total for the group<br>**2021**<br>Unrestricted funds<br>Restricted funds<br>Endowed funds<br>Total for the group|**Tangible fixed**<br>**assets**<br>**_£_**<br>26,629,694<br>-<br>-<br>£ 26,629,694<br>**Tangible fixed**<br>**assets**<br>**_£_**<br>26,274,744<br>-<br>-<br>£ 26,274,744|**Investments**<br>**_£_**<br>413,370<br>390,065<br>1,216,562<br>£ 2,019,997<br>**Investments**<br>**_£_**<br>494,154<br>392,698<br>1,323,409<br>£ 2,210,261|**Net current**<br>**assets**<br>**_£_**<br>125,347<br>949,578<br>(8,695)<br>£ 1,066,230<br>**Net current**<br>**assets**<br>**_£_**<br>272,185<br>765,346<br>198<br>£ 1,037,729|**Long term**<br>**liabilities**<br>**_£_**<br>(1,277,777)<br>-<br>-<br>£ (1,277,777)<br>**Long term**<br>**liabilities**<br>**_£_**<br>(1,944,444)<br>-<br>-<br>£ (1,944,444)|**Total**<br>**_£_**<br>25,890,634<br>1,339,643<br>1,207,867|
|---|---|---|---|---|---|
||||||£ 28,438,144|
||||||**Total**<br>**_£_**<br>25,096,639<br>1,158,044<br>1,323,607|
||||||£ 27,578,290|



## **22 TRANSFERS** 

The transfer of £77,995 from general funds consisted of : 

|Donation from Commercial Company<br>Transfer to designated bursary fund<br>Transfer to designated Keys for Life Bursary Fund|**2022**<br>**_£_**<br>126,128<br>(44,118)<br>(160,005)|
|---|---|
||£ (77,995)|



## **23 CONTRACTS AND COMMITMENTS** 

Capital commitments at 31 August 2022 in relation to building works were £nil (2021: £nil). 

## **24 OPERATING LEASES** 

As at 31 August 2022 the charitable company had future minimum lease payments under non-cancellable operating as follows: 

|**Equipment**<br>Within one year<br>Within two to five years|**2022**<br>**_2021_**<br>**_£_**<br>17,925<br>_16,845_<br>34,030<br>_9,877_<br>£ 51,955<br>_£ 26,722_<br>**Consolidated**|**2022**<br>**_2021_**<br>**_£_**<br>**_£_**<br>17,925<br>_16,845_<br>34,030<br>_9,877_<br>£ 51,955<br>_£ 26,722_<br>**School**|**2022**<br>**_2021_**<br>**_£_**<br>**_£_**<br>17,925<br>_16,845_<br>34,030<br>_9,877_<br>£ 51,955<br>_£ 26,722_<br>**School**|
|---|---|---|---|
||||_£ 26,722_|



44 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **25 INCOME FROM SUBSIDIARY'S TRADING ACTIVITIES** 

The School wholly owns St Peter's School Commercial Company 2016 Limited, which provides instructional courses and recreational facilities relating to the School. It donates all of its taxable profits to the School, previously by deed of covenant, now by way of corporate gift aid. The trading results, extracted from its audited accounts were: 

|Turnover<br>Cost of sales<br>GROSS PROFIT<br>Administration<br>NET PROFIT<br>Gift aid<br>PROFIT BEFORE TAX|**2022**<br>**_£_**<br>299,046<br>(132,882)<br>166,164<br>(40,036)<br>126,128<br>(126,128)<br>£ -|**_2021_**<br>**_£_**<br>_219,397_<br>_(105,599)_|
|---|---|---|
|||_113,798_<br>_(37,166)_|
|||_76,632_<br>_(76,632)_|
|||_£ -_|



The School also owns St Peter's School Commercial Company, St Peter's School (International) Limited and St Peter's School (China) Ltd, all of which are dormant companies. 

## **26 LEGACY** 

Number 16, Clifton Green, a domestic house, has been left to the Foundation in the will of John Mitchell on the deaths of the current residents who hold a life interest. 

## **27 RELATED PARTIES** 

## Governors remuneration and benefits 

The Governors did not receive any remuneration or benefits for their services. 

## Governors expenses 

Expenses were paid in respect of 3 (2021: 2) Governors for travel expenses for the amount of £917 (2021: £203). 

## Governors other related parties 

Andrea Taylor, wife of Adrian Taylor (Governor), received £437 as a teacher. This is consistent with the normal rate that would be paid to someone in this role. 

There are no other related parties. 

45 



## **ST PETER'S SCHOOL, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022** 

## **28 COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT** 

||**Unrestricted**|**funds**|**Restricted**|**Endowed**|**Total**|**_Total_**|
|---|---|---|---|---|---|---|
||**School**|**Other**|**funds**|**Funds**|**2021**|**_2020_**|
||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|**Income and endowments from:**|||||||
|**Charitable activities**|||||||
|School fees receivable|18,661,125|-|-|-|**18,661,125**|_16,583,429_|
|Ancillary trading income|193,510|-|-|-|**193,510**|_642,208_|
|**Other trading activities**|||||||
|Non-ancillary trading income|-|219,397|-|-|**219,397**|_97,996_|
|Other activities|29,101|-|-|-|**29,101**|_5,906_|
|**Investments**|||||||
|Investment income|6,458|8,829|37,361|-|**52,648**|_47,877_|
|Bank and other interest|1,574|-|-|-|**1,574**|_9,220_|
|**Voluntary sources**|||||||
|Donations and legacies|58,895|-|70,542|-|**129,437**|_197,915_|
|**Total**|£ 18,950,663|£ 228,226|£ 107,903|£ -|**£ 19,286,792**|_£ 17,584,551_|
|**Expenditure on:**|||||||
|**Raising funds**|||||||
|Non-ancillary trading|-|142,765|-|-|**142,765**|_44,655_|
|Other income-generating activities|203,719|-|-|-|**203,719**|_204,339_|
|Financing costs|19,758|-|-|-|**19,758**|_22,647_|
|Investment management|-|401|5,481|7,682|**13,564**|_12,326_|
|**Total deductible costs**|223,477|143,166|5,481|7,682|**379,806**|283,967|
|**Charitable Activities**|||||||
|Education and grant making|17,744,007|-|95,686|-|**17,839,693**|_16,754,453_|
|**Total**|£ 17,967,484|£ 143,166|£ 101,167|£ 7,682|**£ 18,219,499**|£ 17,038,420|
|**Net income/(expenditure) and**|||||||
|**net movement in funds before**|||||||
|**gains on investments**|983,179|85,060|6,736|(7,682)|**1,067,293**|_546,131_|
|Gains on investments|-|13,738|75,763|130,115|**219,616**|_35,382_|
|**Net income**|983,179|98,798|82,499|122,433|1,286,909|581,513|
|Transfers between funds|50,334|(12,165)|(38,169)|-|**-**|_-_|
|**Net movement in funds**|1,033,513|86,633|44,330|122,433|1,286,909|581,513|
|**Reconciliation of funds:**|||||||
|Total funds brought forward|23,276,867|699,626|1,113,714|1,201,174|**26,291,381**|_25,709,868_|
|**Total funds carried forward**|**£ 24,310,380**|**£ 786,259**|**£ 1,158,044**|**£ 1,323,607**|**£ 27,578,290**|£ 26,291,381|



46