CHUKCHEII'S
COLLEGE
Annual Report &
Financial Statqments
For the year ended 31 August 2024
Registered company number: 10813349
Registered charity number: 1173833

CHURCHER'S COLLEGE
CONTENTS OF THE CONSOUDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024
Page
Report of the Trustees
Ito26
Report of the Independent Auditors
27to29
Consolidated Statement of Financial Activities
30
Consolidated Balance Sheet
31
Charity Balance Sheet
32
Cash Flow Statement
33
Notes to the Cash Flow Statement
Notes to the Financial Statements
3Sto53

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDEO 31ST AUGUST2024
GOVERNORS, DIRECTORS AND CHARITY TRUSTEES
The Governors of Churcherfs College 1.the College") are the College's tharity trustees under charity law. The members
of the Governing Body who served in office as Governors during the year and subsequently are detailed below. The list
also shows those Governors who are also directors of the subsidiary company Chur¢he¢s College Enterprises Ltd ICCE
Ltd).
Narne
Govemor Sta￿s
C Strick (Chairl
Co-opted
131
J Bloomer (Vice Chairman)
Co-opted
S Barrett
Co-opted
(i)
13)
S Beecham
Co-opted
K Bush
Co-opted
J Franklin
Co-opted
T Henderson
Co-opted
C Herraman-Stower5 Iretired
December 20231
R Ingram
Co-opted
Co-opted
Cjay
Co-opted
W Ajones
Co-opted
141
P Lawrence
Co-opted
141
M Leigh
Co-opted
Rmay
Co-opted
J Morris (from January 20241
Co-opted
D Moses
Co-opted
R Oates
Junior School Parents, Association-
Nominated Governor
Senior School Parents, Association-
Nominated Governor
M Steven
111 Management Committee (General Purpose and Finance)
121 Directors of the Subsidiary Company Churcherfs College Enterprises Ltd
131 Nomination5 Sub Committee
141 Goodfield Project Steering Committee
During the year the activities of the Governing Body were supported by three committees and a subsidiary board, the
membership of which is shown above for each Governor. At the end ofthe year there were 17 Governors. The maximum
number of Governors allowed under the Articles of Association remains 20.
CHUKCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
OFFICERS l¢urrently and throughout the year)
S Williams MA Bsc
Heodmaster- Churcher'5 College
Mr N S Medley MPhys
Bursor und aerk to the Governors
PRINCIPAL ADDRESS AND REGISTERED OFFICE
Ramshill. Petersfield. Hampshire GU314AS
AUDITORS
Sheen Stickland. The Engine House, 77 Station Road. Petersfield. Hampshire GU32 3FQ
BANKERS
Lloyd5 Bank. 5 The Square. Petersfield. Hampshire GU32 3HL
LEGAL ADVISORS & SOLICITORS
Veale Wasbrough Vizards LLP. Narrow Quay House. Narrow Quay. Bristol BSI 4QA
WEBSITE
www.churcherscolle
e.com
CHUKCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
The Trustees present their report and the audited financial statement5 of the charity for the Year ended 31 August 2024.
The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and
Reporting by Charities" IFRS 1021 in preparing the annual report and financial statements of the charitv.
REFERENCE AND ADMINISTRATIVE INFORMATION
Churcherfs College {"the College") was founded in 1722. The College's legal status is that of a charitable company limited
by guarantee with company number 10813349 and a registered charity number 1173833.
The College operates two schools known as Churchels College Juniorschool and Nursery. and Churcherfs College Senior
School.
There is one Governing Body for the two Schools. Details of the members of the Governing Body. together with the
College's officers and principal advisers. are given on pages l and 2.
The College has a wholly owned trading subsidiary Churcherfs College Enterprise Ltd (Company Number: 5770329}
which operates and maintains a swimming pool at the Senior School.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng Documents
The Company is governed by its 'Articles of A550Ciation' document which was adopted and approved by the Charity
Commission with effect from I September 2017. and amended in 2020.
Governlng Bodv
The Governing 8ody is self-appointing, with either S-year (for Co-opted Members) or 3-year Ifor Nominated Members)
terms of office. Members returning at the end of these terms can be re-elerted subjett to the provision of a maximum
two consecutive terms unless a further term 15 agreed by the Board as being in the best interests of the Charitv.
New members of the Governing Body are elected following nominations from the Governors. from the Committees of
the Parents, Associations, or from the College's officers based on the candidates, professional qualities, experience,
personal competence and local availability.
Recrultment and Training of Govemors
New Governors are inducted into the workings of the College and its schools, including Governing Body procedures and
school policies. at induction sessions organised for them by the Head and Bursar. The new Governors also attend
specialist training courses on the role and responsibilities of charity trustees.
Members of the Governing Body attend internal and external trustee training sessions and information Courses
designed to keep them informed and updated on current issues in the sector and regulatory requirements.
Organisational Management
The members of the Governing Body, as the charity trustees and company directors, are legally responsible for the
overall management and control of the College and its senior and junior schools. They meet three times a year.
A Management (Finance and General Purposes) Committee meets more frequently and is joined by the Headmaster
and Bursar to whom the day to day running of the school is delegated, who in turn are supported by their Senior
Management and Bursary Management Teams.
CHURCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSfEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Our Ethos, Strategy and Policles
Our Governors are responsible for setting a strategy for achieving the objertives they have set. The focus of our strategy
is on the development of our pupils. their continued high levels of academic and co-curricular achievement and to
further widen access to the education our School provides. In taking forward our strategy we:
Review and benchmark the School's academic syllabus, teaching and examination results-
Ensure the range of co-curricular activities available to our pupils 15 Stimulating and challengin
Invest in technology and the infrastructure of the School:
Co-operate and share resources with local schools;
Continue to review and develop our methods for awarding bursaries and scholarship5 to ensure wider access to
pupils from all bèckgrounds-
Seek to review. promote and minimise the environmental impart of the school business.
A Carlng School Serving our Local Community and Society
Churcher's College is a charitable company limited by guarantee which seeks to benefit the public through the pursuit
of it5 Stated aims. Our fees are set at a level to ensure the financial viability of the khool and at a level that is consistent
with our aim of providing a first-class traditional education to our pupils.
Our School welcomes pupils from all backgrounds. To admit a prospertive pupil. we need to be satisfied that our School
will be able to educate and develop a prospective pupil to the best of their potential and in line with the general
standards achieved by their peers. Entrance intervieV￿ and a55essment5 are undertaken to satisfy ourselves and parents
that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual's
economic status, sex, gender reassignment. ethnicity, race, religion or disability do not form part of our assessment
processes.
We are an equal opportunity organisation and are committed to a working environment that is free from any form of
discrimination on the basis of age, sex. marriage and civil partnership. gender reassignment, race, disability, sexual
orientation. religion or belief, pregnancy and maternity and part-time or fixed term employment. We will make
reasonable adjustments to meet the needs of staff or pupils who have a disability.
Our School is committed to safeguarding and promoting the welfare of our pupi15 and expects all staff and volunteers
to share this commitment. Parents are given regular information about their children's academic progress and social
development and wellbeing through parent evenings in addition to half tefmly grading cards and traditional end of term
and year reports. We also maintain regular contact with parents throughout the year through informal contacts and
through our various publications. A strong school-home partnership is a defining feature of the school. Senior School
pupils have a Form Tutor (Personal Tutor in the Sixth Forml who is responsible foroverseeing pastoral care and academic
development, as well as a Head of House who provides continuity of care during a pupil's time at the school.
Access Policy
It is important ta us that access to the education we offer is not restricted to those who can afford our fees. We believe
our pupils benefit from learning within a diverse tommunity. A Ereat deal of learning occur5 through social interaction.
conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other
people that will be vital in their adult lives.
CHURCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
GENERAL AIMS
The School's statement of intent is as follows-
We seek to give the widest range of experiences but also the opportunity to be the best. Children at Churcherfs thrive
in an atmosphere of high expectation but even higher achievement in a happy, well-disciplined and carin8 environment.
Excellent examination results are clearly important: the achievement of these forms a core element of a thild's time
here. Equally the development of self-esteem. moral values and leadership are vitally important parts of a child's
education. By developing the full academic. creative and sporting talents of the girls and boys. within the context of
social awareness. our aim is to fully prepare them for all they will face in the dynamic and challenging world we live in.
The pupils of Churcherfs College become confident but not arrogant. responsible, respected and selfless citizens in a
world which will require gifted flexible young people of character, dedication and compassion.
Our Oblectlves
Forstudents..
To develop self-esteem by encouraging and recognising involvement and achievements in adivities both inside
and outside the classroom and inside and outside school.
To value all activities equally.
To encourage personal and collettive ambition. challenge and endeavour.
To encourage academic independence. enterprise and to enjoy learning.
To provide a range of opportunities and experiences to Strengthen talents and key skills such as le3dership,
teamwork, sociability, loyalty, commitment, communication. sustainability. problem-solvin& creative and critical
thinking, integrity, competence and self-assurance.
To offer equal opportunities to all students.
To promote equality of opportunity based on protected characteristics such a5 gender, age, disability. ethnicity,
sexual orientation. religion and background.
To promote a sense of physical and mental well-being.
To prepare students for life beyond Churcherfs.
To facilitate access to the most appropriate pathway post Churchees. including access to top universities and the
most competitive courses.
To ensure education is placed in the context of the 50ciety in which we live.
To create an inclusive community for the students where parents and the local community are involved in school
life, where there is a strong school-home partnership and an all pervading philanthropic spirit.
To provide a continuity of care, ethos and accomplishment from 3 years old to 18.
To extend support beyond Churcherfs.
For Staff..
To celebrate and recognise the contribution of all staff. Teaching and Operational.
To aspire to be energetic. self-motivated and high achieving.
To promote inclusion l involvement of all into Churcherfs school life both inside and outside the classroom.
To encourage collective and personal ambition and development.
To inspire creativity and innovative approaches.
To promote positive mental health and well-bein& and healthy home.work place balance.
To maintain a community of carin& collegiate stsff.
To encourage all to lead by example.
To encourage a 'can do attitude,.
To continue to develop professionally.
To make an active contribution to the academic. pastoral and extra-curricular life of the school.
CHURCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Strateglc Development Plan
The Governors and the School Senior Management Team annually review and monitor the Strategic Development Plan
of the school. During the year 2023-24 the Strategic Development Plan for the period 2020-2025 has been used to guide
investment and initiatives Within the annual planning and budgeting cycle. Updates have been made to reflect items
now completed and to include new and emergent priorities. Alongside other areas. the Strategic Development Plan
includes, for example. the following elements:
A celebration of the 300-year history of the school to include-.
The reinforcement of the relationships with alumni and the town of Petersfield-
b. the creation of a 'professional connections, community..
evidence of the school's commitment to the community and the social. economic and ecological
environment of Petersfield with. for example, the creation of Tercentenary Wood,.
the opening of the new Music School and the Goodfield Design & Technology buildin&
strengthening of the Richard Churcher Foundation and the funds to support Bursary Awards.
2. The further development of the use of information technology in the school.
The development of a Wellbeing Centre and strengthening of support for emotional as well as physical well-
being including enhanced Counselling support.
4. The reinforcement of a gender non-binary environment including consideration of uniform regulations and The
Atheno Project.
Enhancement of pupil voice through. for example. enhanced roles for the School Council and the Peer Mentor
system.
The introduction of alternative pension provision option5 and a cap on the cost of pension contributions.
Facility refurbishment and development including expansion of the Junior School allowing two-form provision
for infants, a new art block at the Junior School. and upgraded dining facilities at both schools.
Sustainability initiatives including the installation of solar panels on the swimming pool and other roots.
Assessment of the consequences arising from. and development of the school's response to, the loss of
charitable relief on business rates and the imposition of VAT on school fees 2025.
CHURCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Charitable Purpose. Community IrNolvement, Outreach & Public Benefft
To assist atcess, the school operates a means-tested bursary scheme supported by the Richard Churcher Foundation
IRCFI. Details of the RCF and the bursary awards are set out elsewhere in this report.
The school is very active in the local community. with a number of longstanding relationships with public benefit sitting
alongside new projects added every year. Some of the highlights are as follows.
Community Artion Support- Penn's Place Path Building Project- June 2024
Churcher's College students started the three-year proce55 of tonnecting the Serpent Trail to the path behind
Petersfield Rugby Club. The laid about 70 metres of the path which will eventually cover 265 metres. The path goes over
Churcher's College land and will create a new path for the Petersfield Community- Churcheff s College students also
maintained the Tercentenary Wood planted by Governors. staff and students in 2022. The students labelled the trees
and started working out the attrition rate.
Remembrance Parade and Concert
The school provide5 a Wind Band. technical equipment. Staffing and printing of the orders of service to 5UPPOrt the
annual Remembrance Parade in Petersfield. The school's CCF contingent marches through the town and provide a focus
to the service. The occasion represents a key fundraising opportunity for the British Legion. The school also hosts an
annual Remembrance Concert in St Peterfs Church. Petersfield. featuring the College Orchestra. Senior Choir and other
choral ensemble. The event is open to the public and all proceeds go to the British Legion.
Transport Support in the Community
With the rising cost of transport, we support a number of local groups with access to our minibuses to facilitate their
trips and community work in and around the Petersfield, Hampshire/Surrey & Sussex Area. Primary schoo15 in Froxfield,
Sheet. Steep. Li55, Herne and Liphook have used our tran5POrt during theyear. Liss Crossover Youth Group. Age Concern,
King's Arrn Youth Project and Scout group5 have also regularly used our minibuses to support their community action.
Muslc. Drama and Events in the Commtsnlty
During the year, the school's musicians were involved in a number of events including-
GCSE musicians performing in local nursing home.
Lunchtime concert5, Carol Services. Spring Concert and Remembrance Concert in St. Peterf5 Church, Petersfield,
with proceeds to charity.
Rock School oft Saturdays open to local community.
Letting of facilities to local and regional bands and orchestras.
On-going relationships with local and county music ensembles: Hampshire Youth Orchestra. Petersfield Orchestra,
Petersfield Youth Theatre, Southern County Youth Jazz Orchestra.
. CHURCHER'S
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CHURCHEA'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Audio-visual & Technlcal Support in the Communlty
The school's technical team provided equipment and transport for Remembrance Sunday. PA equipment for the Butser
Hill Challenge and the occasional loan of equipment to local amateur dramatic societies.
Outdoor & Adventurous Artlvltles in the Community
Our Adventure Department has been providing staff, knowledge and guidance to Sheet Scouts, providing their leaders
with the opportunity to jOlD our training weekends for DofE. Petersfield Scouts also often use the School facilities
without char8e for fundraising. Old tents and other equipment have been donated to local Scout Groups.
Sport in the Communlty
Petersfield Cricket Club (PCC)
The school maintains a relationship with PCC involving the use of our Penns Place playing field free of tharge. The club
has use of our Indoor Net Facility during the Winter Season. Joint initiatives promoting and developing girls. cricket
continue to progress.
Petersfield Rugby Club and The RFU
Links with PRC continue with shared use of each otherfs facilities to support busy programmes of rugby across both
organisations. The school provides the club with use of our Penns Place playing fields for Sunday fixtures free of charge,
while we use the club's changing facilities for matches. The school and club run linked events such as the 'Friday Night
Lights, merging the school and PRC communities. The introduction of the tradition of competing for the 'The Frank Guv
Cup, at the end of the Autumn Term involves all year groups facing PRC in a 'Festival of RugbV under the lights of the
PRC pavilion. The school has also supported the running of RFC CPD and Community Courses providing the venue and
equipment for these courses to take place. which are open to external coaches and officials.
Swimming Pool Lotal School User Groups
Our excellent swimming pool facility continues to be utilised for local school use in and around the school timetable.
Structured swimming lessons are provided on an 'at cosv basis for Herne Junior Sthool. Froxfield Primary School, Liss
Junior & Infants School and Langrish School.
Swimming Pool External Club User Group5
The school provides use of our swimming pool and facilities for meetings and gym space and land training for a number
of external organisations and groups including Portsmouth and District Synchronised Swimming Club.
CHURCHER'S
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
But5er Hlll Challenge
The school organises the annual Butser Hill Challenge, a local running race that the school has supported for many years
as a sponsor. It is a unique event. being the UK'S most 50Utherly Fell race with the adult race taking on a S-mile course
with multiple ascents of Butser Hill, one of the highest points on the South Downs. The event involves children's race5
from year 3 to sixth form along with the Senior race. Over the years the race has raised many thousands of pounds for
local charities. The New Blendworth Centre is our charity partner for this event. The Centre provides day provision for
P05t-19 year old people with varying degrees of learning difficulties/disabilities and offers work-orientated placements
aiming to support individual goals, encourage friendships. raise self-esteem and promote confidence and independence.
The 2023 event was a Ereat success. with record number of runners competing tompared with recent years desplte
torrential rain and thunderstorm conditions. The school races proved the most popular with 41 Schools being
represented from year 3 to year 11 age groups and many sixth formers taking on the full 5 mile fell race. £1,750 was
raised for The New Blendworth Centre.
Summer Solstice Event Raising Funds for Homestart Butser
We continue our partnership with the Queen Elizabeth Country Park and The Sustainability Centre in the support of the
Community Event of the 'Summer Solstice Challenge., an 18km overnight walk from Beacon Hill on the South Downs
Way arriving at the peak of Butser Hill at Sunrise on the Solstice. Churcher's provided support on the infrastructure and
logistical management of the walk with a large number of pupils. parents and staff taking part to support the marshalling
of the event. The expertise of our Adventure Department and staff safely managed approximately 250 participants
along the route, much of which was in complete darkness. Walkers were met by a Druid society who performed an
impressive Solstice ceremony to welcome in the sunrise at the top of Butser Hill. The unique event raised £600 for one
of our charity partners Home-start Butser.
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Maddvs Mark- An evenlng with Na55ar Hu55aln. Aprll 2024
In April we worked with one of our partner charities Maddy's Mark, in the organisation of 'An Evening with Nasserf. The
Sky Sports cricket commentator and former England Captain, Nasser Hussain 08E. joined an audience of over 400 fans
at Churcherfs College to share his experiences, wisdom and anecdotes. to raise funds for local charity. Madd￿5 Mark.
The event raised approx. £10,000 for MaddWs Mark. a charity established in memory of Old Churcherian. Maddy
Lawrence. by her familv.
Flrst Ald Outreach
We are lucky enough to have a first aid trainer and emergency responder within our staff body. who runs termly first
aid courses for staff. with spare places offered out to community groups free of charge. In May 2024 3 place wa5
provided to Butser Ancient Farm staff members. a local historical educational centre.
Lo¢al Charlty Facility Users
We continue to provide free use of facilities to our partner charities who use our facilities for their fundraising events
throughout the academic year, including:
Butser Home Start- AGM and Family Fun
Rosemary Foundation- Fundraising Fashion Show
RNLI- Quiz Evening
Macmillan Cancer
Petersfield and District Scout- use of the climbing wall and field facilities
The Charlties Commlttee
The Charities Committees at both the Senior and Junior Schools are very active, with decisions and nominated charities
being decided on by the students. During the school year 2023124 events run by and involving the pupils raised £20,533
for a range of charities and organisations.
School in a Bag Charlty Partnershlp
'School in a Bag, is our main school charity partner. an inÉtiative that delivers ru¢￿ack$ full of statlonary, learning
resources and eating utensils to poor orphan. vulnerable ènd disaster affected children. The CEO of School in a Bag,
Luke Simons, came into Churcherfs to deliver the whole school assembly ahead of our October non-uniform day where
each pupil donated money to the charity. In addition to the assembly. a production line was set up in the gallery and
the I" year pupils expertly packed 200 bags with equipment ready to be sent off to Ukraine with each bag Containing a
tracking number for the pupils to see where exactly their bag was sent to.
Wear Something Plnv Day
The start of the summer term contained a very special day, Wear Something Pink,, in memory of Islè, a first-year pupil
who tragically died in a road traffic accident earlier in the year. The pupils were encouraged to wear something pink
and the day started with form IC taking part in a Dance-a-thon before Isla's family were shown around the new Pink
Garden planted by Isla's friends and a new paved seating area with 'lsla's bench,. kindly donated by a parent. Over
£3,600 was raised with all donations going to Shooting Starf5 Children Hospices.
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Whole School Charlty Fete and Relay Finals
The end of year charity afternoon was a huge success. Combining a charity fete with a school first, the House Relay
Fina15. Stalls at the fete, organised and run by the team of L6th Charities Committee members, included Sponge a
Teacher, Ice Cream, Coconut Shy and many more. We raised a huge £3.550 for Maddvs Mark. a charity very close to
the school and ourcommunity.
Charlty Committee EveTrts:
Christmas Save the Children Christmas Jumper Day ljunior & Senior)
Morocco Appeal- clothing and equipment donations following the Moroccan Earthquake
Reindeer Run in Aid of Chestnut House Ilst yrl
Lower School Disco Ist-3rd yrs in support of Rainbow Trust
Charity Haunted Library Event for BluePrintforAII
Non-uniform Oays in support of MIND, Action Through Enterprise, Rural Refugee Ne￿Ork
The 8enefactors' Receptlon
At the end of November, it was our gre3t pleasure to come together in the Donald Brooks Auditorium for the inaugural
Benefactors, Reception where we thanked over 70 members of the Churcher's community who have shown their
stjpport to the Richard Churcher Foundation and Development Office activities this year. The Headmaster spoke about
how our sUPPOrters' contribution5 can be absolutely life-changing for a bursary recipient, yet the impact goes far wider
than that. to benefit the whole school community.
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Pupil Numbers ond Fees
Our educational activities are carried out through our Senior and Junior Schools. The average number of pupils at the
Senior School was 1.04812022123 average- 10311 and at the Junior School the average was 23912022123 average= 2321.
Our 17 Nursery pupi1512022123 average- 231 attended a chosen number of sessions acros5 each week.
The Governors carefully reviewed fees with respect to affordability, inflation. and the Governors. desire to preserve the
school's breadth and quality of delivery while maintaining the competitive position of ourfee levels and value for money
in comparison to other independent schools in the region. With 5UStained high price inflation and pay inflation having
eroded fees in real terrns over retent years, the Governors determined that a fee increase of 6.5% in both schools was
necessary for 2024125 in order to achieve these aims. The 2023124 fees and the increase for 2024125 are below.
23124
Per Term
£4,175
£4,455
£6.245
24125
Autumn Term
£4,445
£4,745
£6,650
Junior School (Reception to Year 21
Junior School Iyears 3 to 61
Senior School IAII Years)
Academic
Churcherfs College A Level Results 2024
There will be few who might suggest that Paris and the Olympics were the curtain-raiser to the A Level exam results dav
but, as one online newspaper suggested. there are similaritie5. As with the Olympics, years of hard work come to fruition
as A Level students open their results. hoping for a place on the medal podium and richly deserved applause for their
achievements,. just reward for all their talents but especially their efforts.
It Is certainly a bumper year of the equivalent of Gold. Silver and Bronze medals, A* A and B grades. for the Churcher'5
College students, with more achievin8 these top three grades than ever before, laying aside the three years of COVID
adjustments.
Year
2017
20
20
%A"
%A*&A
47.1
%A*toB
%A"toC
915
%A"toD
%A•toE
I￿.0
212
55.8
87.8
97.7
I￿.0
2&3
63.2
85.8
3D.O
1().9
Y3.1
IL.U.L",
iu.1
l)1.9
IUO.LXJ
JJ2.2.
92.4
91.2
59.1
8L3
9&5
97.3
I￿.0
Just 35 the GB Olympic team can share the glory of the team performance. it is the success of the individual athletes
that is most worthy of celebration. Likewise, along with the joy of the overall school results, the individual Churcher's
students have absolutely excelled themselves. There were six students with at least three 'gold medals,. A* exam
results- a further twenty with two A. grades from their three exams and fifty with nothing lower than A* and A grades.
If there was a Brade or medal above gold then Churcherfs College student Louisa Moor would be awarded that; the
Oxford. Cambridge and the Royal Society of Arts examination board have written to congratulate her on achieving one
of the top grades in the country in her Fine Art exam. and that says nothing of the A* grades she achieved in Biology,
Chemistry and her Extended Project Qualification. Joel Ireland would join Louisa on thattop step with his four A* grades,
a place he is accustomed to as a national award-winning gymnast. cake decorator and public speaker.
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CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Huge enterprise and endeavour with just reward inside and outside the classroom. that is a hallmark of Churcher's
College. the breadth and depth of achievement here herald5 huge success beyond school for the Churcherfs College
students. Paris and Petersfield, so much and 50 many to celebratel
Churcherfs College GCSE Results 2024
As athletes who enjoyed Olympic glory in Pari5 find. the better you become, the harder it is to get better. to achieve
personal bests, but. despite this, personal bests still keep coming at Churcherfs College.
With around a quarter of exams at gold medal winning grade 9 and over SO% of all exams grade 9 and 8. this year's
GCSE results for Churcher's bring many a smile to many a face and better-than-ever levels of success. With such stunning
achievements at GCSE, and on the back of hugely impressive A Level results. demand for places in the Sixth Form at
Churcher's College remains exceptionally high but it is not just about academic results.
Just after they had clearly performed so well in the exam hall, over two hundred Churcherfs musicians were on the
professional stage in London at Cadogan Hall enjoying standing ovation5' and over the summer there were expeditions
to Mozambique, Eswatini and Norway, a team was completing the Welsh 30005, the choir wa5 performing on stage at
Disneyland Paris, there was national recognition for our drama and art and, after all the regional and national sporting
success of last year, pre-season training is just about to begin for the coming year.
Another day with so much joy and reward for all at Churcherfs!
2018
22.0
26.0
43.5
65.7
83.9
94.2
98.3
98.5
98.6
2019
49.8
71.2
99.8
2020
35.5
62.5
85.0
95.7
99.6
100.0
i(x).o
2021
30.3
56.4
79.2
93.5
99.1
100.0
i(K>.O
2022
25.6
49.4
74.1
88.8
97.5
99.4
99.9
2023
2024
23.0
49.1
51.6
73.7
74.9
97.9
98.5
I￿.0
I￿.0
25.5
93.0
CHURCHER'S
COLLEGE
Page 13

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEE5
FOR THE YEAR ENDED 31ST AUGUST 2024
Extra-currlcular Activitles
The school offers a wide range of extra-curricular activities for pupils which help to boost pupils. self-confidence and
contribute to their well-being. The activities fall under the main headings of- cerebral: creative: adventure: enterprise,.
altruistic and physical.
Many activities rely on parent volunteers and this has allowed growth and free choice with activities including OSCA, an
outdoor adventure group for nearly all 2nd year pupils. the Duke of Edinburgh Award scheme. the Combined Cadet
Force. the Devises to Westminster canoe race. the Ten Tors. challenge on Dartmoor and the Welsh 30(X)s challenge.
-41 h
CHURCHER'S
COLLEGE
Page 14

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
TEN TORS
11!
CHUKCHER'S
COLLEGE
Page 15

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
The Duke of Edinburgh Award programme and the number of participants has also grown exponentially, with 287 pupils
participating during 2023124- 129 undertaking the Bronze award, 76 the Silver award, and 582 pupils the Gold award.
The focus of growing our record DofE completion rates {belowl and burgeoning CCF provision will continue in 2024125.
DofE Awards Completed
2021122
2022123
39
40
2020121
37
2023124
57
Gold
Silver
42
56
56
93
Bronze
113
102
125
112
Totsl
192
197
221
262
Other adventurous activities included the school's return to the Ten Tors event. with 20 students in two 35-mile teams
14, year cadets) and one 45-mile team (Lower Sixth students), and the Devizes to Westminster canoe race with 14
Lower Sixth pupils participating. In August a team of six sixth form students attempted the We15h 30(MJs', a classic
fellwalking endurance challenge in which participants aim to scale all IS Welsh peaks over 3,000 feet tall, ideally within
24 hours from first to final summit. The total route is over 50km in length and includes around 4,000m of ascent. Over
half of the total 35cent was completed in August before hurricane force wind5 forced a 'stop the clock, adjournment.
with the team due to return and complete the challenge in autumn 2024.
AI; CHURCHER'S
COLLEGE
Page 16

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Academic clubs include the debating club. science clubs. computer club. thess and other brain games which are held in
the Library.
Creative clubs include drama. dance. LAMDA. fashion and textiles, and the Green Power. Over 400 pupils are involved
in music every week in addition to their music lessons. Approximately 20 pupils are involved as a Tech Team assisting in
various productions.
Green and Eco Incentives
The school Continues to involve pupils in pursuing a range of eco initiatives under the Green Flag scheme launched by
Eco-schools, focusing on water, transport. marine and air quality. Examples of initiatives in the last year are..
Whole School Assembly regarding the declining numbers of insects and its correlation with the falling sperm
count of men and falling fertility of women. This wa5 linked to the idea of reducing use of pesticides. which the
Grounds team have supported during the year.
Planting the herb garden. which now provides fresh herbs for school lunches on a daily basis.
Installing an air-quality monitor which will give real-time data about the quality of the air on the school site.
"&"IA
CHURCHER'S
. COLLEGE
Page 17

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Sport Results
2021122
2022123
Girls
2023124
Boys
Girls
82%
66%
ioi
Gids
Rugby
69%
71%
107
36%
li
42%
34%
109
65%
127
62%
13
Played
R￿bY fs
io
69%
45%
131
Hockey
15%
49%
154
28%
48%
146129)
42%
51%
182
25
47%
55%
191
11%
52%
170
55%
122 (301
Played
i" vii
Netball
58%
160
icket
i'xi
36%
41%
73
36%
59%
75%
69%
48%
62
29 (4)
mlxed O
67%
6f
77
37 (3)
Tennls
1st
22
(rn￿ed li
mlxed 15
mlxed O
mixed O
Note5'.
win ratio
Brackets = cancelled matches
THE WORLD SCHOOLS
NETBALL CUP 2024
CHUIICHER'S
COLLEGE
Page 18

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 315r AUGUST 2024
Ji. I'.i.'¥
CHURCHER'S
COLLEGE
Page 19

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Music & Dnymo
The continuing enthusiasm for Music and the gfowing enthusiasm for Drama is clear from the number of exam
certificates being awarded.
Music &
Drama
Grade I
2021122
Music
Drama
2022123
Music Diama
2023124
Music
Diama
io
19
21
31
37
17
12
25
13
38
22
19
18
41
26
28
25
22
37
15
li
iio
14
140
li
93
16
174
19
188
TOTAL
107
There are currently more than 400 individual music lessons whith take place weekly. and the many groups and
ensembles include:
Senior Choir
Jozz Band
Senior Wind Band
Junior Choir
SSA Choir
Senior Chamber Choir
Junior Chamber Choir
Senior Jazz Quintet
Blues Group
Or¢hestra
Junior Jazz Improvisation Group
Four Brass Groups (Quartets}
Guitar Group
Saxophone Group
Junior Wind Band
Junior Strings
Clarinet Group
Recorder Group
Flute Group
Singerlsongwriter Club
Five String Quartets
Music Teach aub
Rock School
Barbershop Group
AI. CHURCHER'S
COLLEGE
Page 20

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Liii¢m
rance
CHURCHER'S
COLLEGE
Page 21

CHVRCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
CHURCHERS
COLLEGE
11. 12 & 13 December 2023
Sports Hall at 7.30pm
BI￿￿. churCh•r￿OI1•g•.¢0M1wh4t•oTr
CHURCHER'S
COLLEGE
• seV￿1(AL
The Musical
5- 8 February 2024
The Festival Hall, Petersfield at
pm
CHUKC
COLL
CIIURCIIIR'S
LLILLEGE
NIGHT'S DREAM
AMADEUS
19- 21 June 2024 .pm
HI. PF. I l.:K sFI.IFF EII
trrr'nr{I'Jnc* ift j i.
the gwunds ofChurche<s L*e .
18 & 19 March 2024
25March 2024
Tickers £13 Ch￿rCherSCo1lt￿e.COmlY1hèl%0n
CHURCHER'S
COLLEGE
Page 22

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
FUNDRAISING PERFORMANCE
The fundraising activities of the school are focused through the Richard Churcher Foundation IRCFI, which is a restricted
fund. In accordance with our reserves policy and RCF objectives it is intended that the capital value of the fund be grown
to facilitate the permanent funding of long-term bursary support for pupi15 from farnilie5 suffering hardship.
During the year the sum of E102,50812022123: £157.7401 wa5 allocated to the school for bursary funding, being the
rental income generated from the RCF'S properties plus a Share of the school's lettings. swim school and other income.
By allocating only the RCF'S income and 5¢hool donations. the full value of this yearfs external donations have been
retairsed a5 growth in the RCF. accelerating its ability to fund bursaries from RCF income in future years.
External donations increased to £393,772 12022123: £111.0711. while donations from the school's other income
increased to £59,7S812022123= £56.0201.
Overall, the RCF Fund value increased in the year by £408.694 to £1,841.484.
FINANCIAL AWARDS
Scholarships and Exhibitions are awarded in recognition of academic excellence and exceptional tontribution to the
community of the school andlor the wider community of Petersfield. Exhibitions may also be awarded to those whose
involvement in activities within the school are at an exceptionally high level.
Bursaries are awarded to existing pupils of the College and also those entering at Il+. 13+ or 16+. The awards are based
upon a clearly identified need. Pupils who have been awarded a scholarship may apply for additional support but these
are likely to be awarded only in exceptional circumstances. Bursaries are awarded at variou5 levels from 15% to lOO%
of fees, with increasing numbers of higher awards in recent years. Bursaries typically remain in place for l or 2 years
before they are reviewed or until there is a significant change in parental income or a55ets.
Analysis of Bursary and Scholarshlp Awards
2019120
2020121
2021122
2022123
2023124
Net Fee Income
14,839,168
15,451.794
16.851.121
18.774.572
20,920,974
Bursaries
571,377
429.757
642.470
687,644
786,334
% of Fee Income
3.8S%
2.78%
3.81%
3.66%
3.76%
Scholarships
185,626
165.248
181.037
183,335
191.961
% of Income
1.25%
1.07%
1.07%
0.98%
0.92%
The above means-tested bursaries assisted 67 pupils {2022n3: 571. of which 2112022123: 171 benefited from a full
remission of fees.
. CHURCHER'S
COLLEGE
Page 23

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST2024
FINANCIAL REVIEW
The key financial results for the year were as foll0v￿.
Junior School incl
£OOWs
I1￿￿1 Nursery ￿1
Senior School
CCE
Combined
2022123
2023124
2022123
2023124 2022123 2023124 2022123 2023124
Gross Fee Income
2,916.2
3,271.2
17.692.1
19.700.3
20,608.3
22,971.4
Net Fee Income
2,762.1
3.062.2
16.012.5
17,858.8
18,774.6
20,921.0
Letting5 & swim
school Income
16.3
29.8
170.3
189.0
196.1
224.0
Surplus/lLossl
Surplus1lLossl I
Net Fee Income %
{156.31
1181.01
741.4
1.962.0
1170.01
130.31
415.1
1,750.8
15.7%)
15.9%)
4.6%
li.o%
2.2%
8.4%
With a 1.9% increase in pupil numbers combined with a fee increase of 8.5% for 2023124, net fee income grew by 11.4%
over 2022123. In response to and in readiness for the loss of charitable relief on business rates and the imposltion of
VAT on school fees due to take effect in 202S. the school implemented a range of cost saving measures during the year
where this was possible without impacting educational provision. This included staffing efficiencies, renegotiating or
rationalising supplier contracts and updating our infrastructure to redu￿ utilities costs, including a major solar panel
installation on the swimming pool roof. These savings along with a significant market reduction in energy costs added
to robust income to deliver a strong recovery in the surplus to 8.4% of net fee income in 2023124, ahead of the increased
burden of taxation anticipated from 2024125. The surplus enables the repayment of debts and Capital investment into
the infrastrurture of the school.
As a charity the parents of our pupils have the assurance that the income of the school must be applied for education
purposes. As an educational charity we enjoy tax exemption on our educational activities and on our investment income
and gains provided these are applied for our charitable aims. As a charity we are also currently entitled to an 80%
reduction on our business rates on the property we occupy for our charitable purposes, albeit this relief is due to end
in 2024125. The financial benefits we receive from these tax exemptions are all applied for educational purposes.
However, while school fee5 remain exempt from VAT we are unable to reclaim VAT input tax on our costs,. again this is
due to change in 2024125. We also pay tax as an employer through the national insurance contributions we make.
In addition to the very substantial benefits our School brings to our pupils, the local community and society through the
education we offer, our bursary programme creates a Social asset without cost to the Exchequer.
CHURCHEK'S
COLLEGE
Page 24

CHURCHER'S COLLEGE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Reserves Level & Policv
The policy of Churcherfs College is to maintain sufficient unrestricted income reserves to enable it to meet its short-,
medium- and long-term financial obligations in the event of an unexpected revenue shortfall.
A key objective is to maintain a strong balance sheet of well-maintained assets supported by effettive long term bank
facilities. We also aim to produce an annual surplus before depreciation in excess of 5% of net fee income, in order to
provide funding for capital projects and on-going improvements to the Estate. This will be achieved by maintaininE a
competitive fee structure reflecting the services provided to parents and their children and by setting annual budgets
for costs which are strictly monitored for efficienry.
The School will continue to manage its operations and maintain reserves at levels agreed by the Governing Body to
ensure access to funding for resources for the day to day and longer-term activitie5. This includes maintaining the
School's assets and facilities. holding investments to maintain the value of re5erve5 ond the use of long-term borrowing
where required.
The School will continue to utilise banking facilities such as loans to allow investment in new facilities but ensuring risk
is mitigated as far as possible. that gearing ratios are maintained at acceptable levels and that overall debt levels are at
a comfortable level in comparison to income and assets.
Pay and Remuneration
The Governors are committed to the recruitment, retention and fair remuneration of its School staff. In setting the
relevant pay scale rates for both teaching and support staff a range of factors are consistently evaluated annually
including national pay awards. sector benchmarkin& local economic factors and of course the budgetary position of the
school. The remuneration and employment terms of the key management personnel including the Headmaster and
Bursar are reviewed by the Governor5 on an annual basis.
Risk Management
The Governors are responsible for the overseeing of the risks faced by the School. Detailed considerations of risk are
delegated to the Senior Management of the School. Risks are identified. a55e55ed and controls established throughout
the year.
A formal review of the charity's risk management processes is undertaken on an annual basis. Risk is managed under
the headings of Governance and Management. Compliance. External Factors, Admi55ions. Physical Disasters,
Operational Matters. Information Technology. Health and Safety. Employment and Human Resources. Reputation,
Financial Sustainability, Pupil Welfare.
Through the risk management processes established for the School. the Governors are satisfied that the major risks
dentified have been adequately mitigated where ne￿$Sary. It is recognised that systems can only provide reasonable
but not absolute assurance that major risks have been adequately managed.
The Governors examine the major risks that the school faces each financial year when preparing and updating the
strategic plan. The Charity has developed systems to monitor and control these risks to mitigate any impact that they
may have on the College in the future.
. CHURCHER'S
COLLEGE
Page 25

CHURCHER'S COLLEGE
REPORTOFTHE TRusfEES
FOR THE YEAR ENDED 31ST AUGUST 2024
Trustees. Statement of Accounting and Reporting Responsibilities
The Trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wale5 requires the Trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affair5 of the charity and of the incoming resources and
application of resources of the charity for that period. In preparing these financial statements, the Trustees are required
to..
select Suitable accounting policies and then apply them consistently
observe the methods and principles in the Charities SORP IFR51021
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed. subjert to any material departures disclosed
and explained in the financial statements
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The Trustees are responsible for keeping sufflcient accounting records that disc105e with reasonable accuracy at anv
time the financial position of the tharitable company and enable them to ensure that the accounts ¢omply with the
Charities Act 2011, the Companies Att 2006 and the Charity (Accounts and Reports) Regulations 2008 and the provisions
of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustee5 are aware:
There is no relevant audit information of which the charitable company's auditor is unaware. and
the Trustees have taken all steps that they ought to have tsken to make themselve5 aware of any relevant audit
Information and to establish that the auditor is aware of that information.
Charities Act 2011
The Trustees have due regard to their duties under Section 17 of the Charities Act 2011 in relation to public benefit and
have reviewed Charity Commission guidance.
Relevant Audit Information
In50far as each of the members of the Governing Body, at the date of approval of this report is aware there is no relevant
audit information (information needed by the charitable company s auditor in connection with preparing the audit
report) of which the charitable company's auditor is unaware. Each member of the Governing Body has taken all the
steps that he or she should have taken as a member of the Governing Body in order to make himself or herself aware
of the relevant audit information and to establish that the charitable compan￿5 auditor is aware of that information.
th
Approved by the Governing Body of Churcherf5 College on S December 2024.
Charles Strick
(Chair of Governing Body)
CHURCHER'S
COLLEGE
Page 26

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
CHURCHER'S COLLEGE
Opinion
We have audited the financial statements of Churcherfs College (the 'parent charitable company'l and it's subsidiary
company Ithe 'group'l for the year ended 31 August 2024 which comprise the Statement of Financial Activities. the
Balance Sheet, the Cash Flow Statement and notes to the financial statements. including a summary of significant
acco¥Jnting policies. The financial reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial Statements:
give a true and fair view of the state of the group and the parent charitable company's affairs as at 3151 August
2024 and of its incoming resources and application of resources, including its incorne and expenditure, 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.
Basss for oplnlon
We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the
financial statements section of our report. We are independent of the group and parent charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including
the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our opinion.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company's
ability to continue as a going concern for a period of at least twelve month5 from when the financial statements are
uthorised for issue.
Our responsibilities ènd the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in
the annual report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the group finantial statements, our responsibility is to read the other information and,
in doing 50. consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or othenvise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there 15 a material
misstatement in the financial statements or a material misstatement in the other information. If, based on the work
we have performed, we conclude that there is a material misststement 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 Companie5 Art 21)06
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Report of the Trustees for the financial year for which the financial statements are
prepared is Consistent with the financial statements- and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
4I. CHURCHER'S
COLLEGE
Page 27

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
CHURCHER'S COLLEGE
Matters on which we are required to report by exceptlon
In the light of the knowledge and understanding of the group and parent charitable Company and its environment
obtained in the Course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2ts)6 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
certaln disclosures of trustees. remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees Responsibilities. the trustees (who are also the directors of the
parent charitable company for the purposes of company lawl are responsible for the preparation of the finantial
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 group financial statements. the Trustees are responsible for assessing the group and parent charitable
company's ability to continue as a going concern. disclosin& as applicable. matters related to going concern and using
the going concern basis of accounting unless the Trustees either intend to liquidate the group and parent charitable
company or to cease operations, or have no realistic alternative but to do so.
Our responsibllltles for the audlt of the finandal ststements
Our objectives are to obtain reasonable assurance about whether the financial Statements as a whole are free from
material mi55tatement. whether due to fraud or error. and to issue 3 Report of the Independent Auditor5 that includes
our opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI 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 ststements.
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 misstèlements in respert of irregularities, intluding fraud.
The extent to which our procedures are capable of detecting irregularities. including fraud is listed below-
enquiry of management, those charged with governance and the entity's solicitors around actual and potential
litigation and claims- and
auditing the risk of management override of controls including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.
A further description of our responsibilities for the audit of the group's financial statements is located on the Financial
Reporting Council'5 website at vrnw.frc.org.uklauditor5responsibilities. This description forms part of our Report of
the Independent Auditors.
. CHURCHER'S
COLLEGE
Page 28

REPORT OF THE INDEPENOÉNT AUDITORS TO THE TRUSTEES OF
CHURCHER'S COLLEGE
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's
members those matters we are required to state to them in an auditors, 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
e chari
ompany's members as a body, for our audit work, for this report, or for the opinions we have formed.
Paul Wright FCA DChA Isenlor Statutory Auditor)
for and on behalf of Sheen Stickland
Chartered Accountants
Statutory Auditors
The Engine House
5 The Square
Petersfield
Hampshire
GU32 3HL
Date 51h December 2024
CHURCHER'S
COLLEGE
Page 29

CHURCHER'S COLLEGE
CONSOLIDATED STATEMENT OF FINANCIAL AcrivmES
FOR THE YEAR ENDED 31ST AUGUST 2024
2024
Total funds
2023
Total
funds
Unrestricted
funds
Restricted
funds
Endowment
funds
Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
Investment income
Charitable actlvitles
Education and grant making
Other Incomlng resources
102.508
74.274
459.788
50,590
562,296
124,864
344,409
45,909
24,601,98S
225,247
24.601,985
225,247
21,604,093
197,647
Total
25.1)J4.014
510.378
25,S14.392
22,192,058
EXPENDITURE ON
Raising funds
CharStable activities
Education and grant making
Trading subsidiary expenditure
59,758
59,758
23,082
22,864.926
328,571
105,578
22,970,504
328.571
21,243,726
435,333
Total
23,253.255
105,578
23.358,833
21,702,141
NET INCOME BEFORE
TRANSFERS
1.750,759
2,155,559
489.917
Transfers between funds
26
NET INCOME
1,750,759
404,8(M)
2.155.559
489,917
Other recognlsed galnsllosses
Gainsllosses on investment
as5et5
Actuarial gainsllosses on
defined benefit schemes
65.947
3.894
69,841
11.3051
158.204
Net movement in funds
1,816,7(
408,694
2.225.4
646,816
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
12.120.153
1.432.790
7.440,477
20.993.420
21,738,810
11.392,2061
As restated
12,120.153
1,432.790
7.440,477
20.993.420
20,346,604
TOTAL FUNDS CARRIED
FORWARD
13,936,859
1.841,484
7,440,477
23,218,820
20,993,420
The notes form part of these financial statements
CHURCHER'S
COLLEGE
Page 30

CHURCHER'S COLLEGE
CONSOLIDATED BALANCE SHEET
FOR THE YEAR ENDED 31ST AUGUST 2024
2024
Total
funds
2023
Total funds
Unrestrided
funds
Restricted
funds
Endowment
funds
Notes
FIXED ASSETS
Tangible assets
Investments
Investments
Investment property
14
22.605,766
7,440.477
30.046.243
30,581,817
16
17
6,671,916
15.150
1.330,OIX)
6,687,066
1,330,000
11.256
950.000
29.277.682
1.345,150
7,440.477
38.063.309
31,543,073
CURRENT ASSETS
Stock5
Debtors
Cash at bank and in hand
18
19
1.333
559,399
1,949,178
1.333
559,399
2,445,512
735
348,695
479,229
496.334
2,509,910
496.334
3,006,244
828,659
CREDITORS
Amounts falling due within one
year
20
18.165.882)
{8,165,8821 16,002,450)
NET CURRENT UABILITIES
15.655.972)
496.334
{5,159,6381 15,173,791)
TOTAL ASSETS LESS CURRENT
LIA81LITIES
23.621.710
1,841,484
7.440,477
32.903.671
26,369.282
CREDITORS
Amounts falling after more than
one year
21
19,684.8511
19.684.851) 15.375.862)
NET ASSETS
13,936,859
1,841.484
7.440,477
23.218.820
20,993,420
FUNDS
Unrestricted funds
Restricted funds
Endowment funds
26
13.936.859
1.841,484
7.440,477
12,120,153
1,432,790
7.440,477
TOTAL FUNDS
23.218.820
20,993,420
The financial stateme
bv:
ere ap
roved by the Board of Trustees
er 2024 and were signed on its behalf
C Strick- Chairman
Bloomer- Wice Chairman
The notes form part of these financial statements
. CHURCHER'S
COLLEGE
Page 31

CHURCHER'S COLLEGE
BALANCE SHEÉT
FOR THE YEAR ENDED 31ST AUGUST 2024
2024
Total funds
2023
Total funds
Unrestricted
funds
Restricted
funds
Endowment
funds
Notes
FIXED ASSETS
Tangible assets
Investments
Investments
Investment property
Is
20,842.158
7.440.477
28.282,635
28,911.032
16
17
8,271.916
15,150
1.330.0(KI
8,287,066
1.330,000
1,611,256
950,000
29,114.074
1.345,150
7.440,477
37.899,701
31.472.288
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
18
19
1.333
836,769
1,940.431
1,333
836.769
2.436,765
735
451,784
471,776
496.3YI
2.778.533
496.334
3.274.867
924.295
CREDITORS
Amounts falling due within one
vear
20
18.136.014)
{8,136,0141 {5,922,671)
NET CURRENT LIABILITIES
15,357,481)
496.334
14,861.147) 14,998,376)
TOTAL ASSETS LESS CURRENT
UABILITIES
23.756.593
1.841,484
7.440,477
33,038.554
26,473,912
CREDITORS
Amounts falling after more than
one year
21
19.684.851)
19,684.8511 15,375,862)
NET ASSETS
14,071.742
1.841.484
7,440,477
23.353,703
21,098,050
FUNDS
Unrestricted funds
Restricted funds
Endowment fund5
26
14.071.742
1.841,484
7,440,477
12.224,783
1,432,790
7,440,477
TOTAL FUNDS
23.353,703
21,098,050
The
by..
ncial stateme
roved by the Board of Trustees on 5,
24 and were signed on its behalf
C Strick- Chairman
loomer- Vice Chairman
The notes form part of these financial ststements
CHURCHERS
COLLEGE
Page 32

CHURCHER'S COLLEGE
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST AUGUST 2024
2024
2023
Notes
Cash flows from operating activities:
Cash generated from operation5
10,194,168
837.509
Cash flows from investing activities:
Purchase of tangible fixed assets
Reduction in cost of tangible fixed a55ets
Purchose of fixed asset investments
Purchase of investment properties
Dividend & interest received
1809,3261
660.650
16,605,969)
1380,0001
82.114
{1.914.7581
3,159
Net cash provided by (used in) Investln8 actlvltles
17.052,5311
{1,911,5991
Cash flows from flnan¢ln8 actlvlties:
Bank loan received
Loan repayments in year
1256,2911
1249,603}
Net cash provided by (used In) financln8 activitie5
1256,2911
1249,603}
Change In cash and cash equivalents In the
reportlng period
Cash and cash equlvalents at the beginning of the
reporting period
2.885,346
11,323,693}
1439,8341
883,859
Cash and cash equivalents at the end of the
reporting period
2.445,512
1439,8341
The notes form part of these financial statements
CHURCHER'S
COLLEGE
Page 33

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST AUGUST 2024
RECONCILIATION OF NET INCOME TO 14ET CASH FLOW FROM OPERATING AcrivmES
2024
2023
Net Incomel{expenditure) for the reporting period las per the statement
of flnantlal actlvities)
Adjustments for:
Gainlllossesl on defined benefit scheme
Depreciation of fixed assets
Dividends & interest received
Ilncreasel/decrease in stocks
Ilncreaselldecrease in debtors
Increaselldecreasel in Creditors
2,155.559
489,917
158,204
624,276
13,1591
1711
676,156
11.107,8141
684,250
182,1141
{5981
1210,7041
7,647,77S
Net cash provlded by operating artivftles
10,194,168
837,509
ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash at bank and in hand
Overdrafts falling due within one year
2.445,512
479,229
1919,0631
Total cash and cash equivalents
2,445,512
1439,8341
The notes form part of these financial statements
AI CHURCHER'S
COLLEGE
Page 34

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024
STATEMENT OF COMPLIANCE
Churcherfs College is a Public Benefit Entity registered as a charity in England and Wales and is a tompany
limited by guarantee. The members of the company are the Governors who are also Diredors of the company.
In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 for all
serving Governors. It was incorporated on 12 June 2017 Itompany number 10813349} and registered as a
charity on 14 July 2017 (charity number 1173833). The registered office is Ramshill, Petersfield, Hampshire
GU314AS.
The financial statements are presented in sterling which is the functional currency of the group and rounded to
the nearest pound.
The Group's financial Statements have been prepared in compliance with FRS 102 as it applied to the financial
statements of the Group for the year ended 31st August 2024.
The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.
ACCOUNTING POLICIES
Basls of preparlng the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP {FRS 1021 'Accountin8 and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the
Charities Att 2011. The financial statements have been prepared under the historical cost convention with the
exception of investments and certain tangible fixed assets which are included at market value.
Consolidation
The financial statements incorporate the results of Churcherfs College and its wholly owned subsidiary
Churcherfs College Enterprises Limited Icompany number- 05770329), prepared on a line-by-line basis.
Exemption has been taken from including the unconsolidated statement of financial activities of Churcher's
College in accordance with section 408 of the Companies Act 2006.
Critlcal accounting judgements and key sources of estimation uncertalnty
In the application of the accounting policies. Directors are required to make judgement, estimates, and
assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources.
The estimates and underlying assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the
period of the revision and future periods if the revision afferted current and future periods.
In the view of the trustees. no assumptions concerning the future or estimation uncertainty affecting assets or
liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the
next financial year.
CHURCHER'S
COLLEGE
Page 35

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
ACCOUNTING POLICIES- continued
Fees and Similar Income
Fees receivable and charges for services and use of premises are accounted for in the period in which the service
is provided. Fees receivable are stated after deductin8 allowances. scholarships and other remissions granted
by the school, but include contributions received from Restricted Funds for scholarships, bursarie5 and other
grants.
Fees in advance comprise fee payments made by instalment before the start of the financial year and a small
number of lump sum fee prepayment amounts.
Investment income
Investment income from dividends. bank balances and fixed interest securities is accounted for on an accruals
basis. Income from investment properties is accounted for in the period to which the rental income relates.
Pupll deposlts
A deposit is held by the College in respect of each pupil for the duration of their schooling. It is refunded when
the pupil leaves less any final charge5.
Donations
Donations receivable for the general purposes of the Charity are credited to Unrestricted Funds. Donations for
purpose5 restricted by the wishes of the donor are taken to Restricted Funds where these wishes are legally
binding on Churcher's College 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.
Expendlture
Expenditure is accounted for on an accruals basis. Overhead and other costs not directly attributable to
particular functional activity categories are apportioned over the relevaTtt 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.
Support costs comprise the costs of running the charity. including the strategic planning for its future
development, also internal and external audit. any legal advice for the Churcher's College Governors, and all the
costs of complying with constitutional statutory requirements. such as the costs of Board and Committee
meetings and of preparing statutory accounts and satisfying public actountability.
Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment
but not accrued as expenditure.
Operatlng leases
Rentals payable under operating leases are charged in the SOFA on a straight-line basis over the lease term.
Assets in the course of constiurtion
Expenditure incurred in relation to C3Pltal building projects is treated as assets in the course of construction until
practical completion when all expenditure is reviewed and reclassified to the appropriate class of tangible fixed
asset.
. CHURCHER'S
COLLEGE
Page 36

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENfs- CONTINUED
FOR THE YEAR ENDED 315T AUGUST 2024
ACCOUNTING POLICIES- continued
Tangible fixed assets
Expenditure on the acquisition, construction or enhancement of land and buildings costing more than £10,000
together with vehicles, furniture, machinery. ICT infrastructure and other equipment are capitalised and carried
in the balance sheet at historical cost. In certain circumstances, where part of an asset is replaced but the original
attributable cost is not a5certainable. a reasonable estimate of the cost. if material, has been used.
Other expenditure on equipment and repairs and maintenance Iwhi¢h include an element of irnprovementl is
regarded as incurred in the normal day-to-day running of the school and its subsidiary and is charged to the
Staternent of Financial Activities as incurred.
Oepre¢lation
The freehold college land. and buildings under the Pennanent Endowment are not depreciated.
Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual value
based on current market prices. in equal annual instalments over their expected useful economic lives as follow5:
20-IW years..
3 -10 years-
5 years:
New building5 and improvements to buildings {unle5s subject to revaluation)
Fixtures fittings and school equipment
Motor Vehicles
Investment property
Investment property is shown in the financial statements at the trustees, estimated valuation and this is
reviewed annually. Any aggregate surplus or deficit arising from changes in market value is transferred to the
Statement of Financial Activitie5.
Stoeks
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow-
moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accountlng
The charitable funds of the College are accounted for as unre5trirted or restricted income, or a5 endowment
capital, in accordance with the terms imposed by the donor5 or any appeal to which they have responded.
Unrestrlcted income belongs to the College's corporate reserves. spendable at the discretion of the Governors
either to further the College's Objects or to benefit the College itself. Where the Governors decide to set aside
any part of these funds to be used in future for some spetifit purpose, this is accounted for by transfer to the
appropriate designated fund.
Restrlcted income comprises gifts, legacies and grants vthere there is no capital retention obligation or power
but only a restriction to some 5pecifit purpose intended by the donor.
Permanent endowment represent5 certain land & buildings not transferred to the company but remain under
the control of the predece550r charity Churcherfs College as detailed within the Charity Commission scheme
approved on 31 August 2017.
Investments
Investments are valued in the balance sheet at their mid-market value at the balance sheet date. Investments
management costs are accounted for as incidental costs of the acquisition or disposal where transaction-based,
while investment income management costs are charged as expenditure out of the relevant income funds.
CHURCHER'S
COLLEGE
Page 37

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
ACCOUNTING POLICIES- ¢ontlnued
Goln8 concern
The trustees consider that there are no material uncertainties that may cast doubt about the group's ability to
continue as a going concern.
Pension costs and other post-retirement beneffts
The charity operates two defined benefit pension schemes. Contributions payable to the charity's pension
scheme are charged to the Statement of Financial Artivities in the period to which they relate.
The School participates in the Teachers. Pension Scheme I'the TPS'I for its teaching staff. The pension charge
for the year includes employer contributions payable to the TPS of £1.442,780 and at the year-end there was no
outstanding amount due in respect of contributions to this Scheme.
The TPS is an unfunded multi*mployer defined benefits pension scheme governed by the Teachers, Pension
Scheme Regulations 2014. Member5 contribute on a "pay as you go" ba5iS Wlth 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 following scheme valuatlons undertaken by the Government Actuary'5
Department. The latest actuarial valuation of the TPS was prepared as at 31 March 2020 and the valuation
report, which was published in October 2023. The employer contribution rate for the TPS has been set at 28.68%
with effect from l April 2024.
The valuation a5 at 31 March 2020 will determine the opening balance of the cost cap fund and provide an
analysis of the cost cap as required by the Public Service Pensions Act 2013.
Following a consultation with staff in 2022-23 the school capped the net cost of its TPS employer contributions
at 23.68% by amending its employment contracts such that employees are required to fund any such increases
through an adjustment to their salaries should they choose to remain in the TPS. This meant that there was no
impact on the school from the increase in the employer contribution rate to 28.68% on l April 2024 and nor
will there be any impact from any future increase in the rate.
The School also participates in the Hampshire Pension Fund ("the HPF") for its non-teaching support staff. The
HPF is part of the Local Government Pension Scheme and is administered by Hampshire County Countil.
The HPF is governed by the Public Service Pensions Act 2013. It is a contributory defined benefit pension scheme
dministered by H3mpshire County Council to provide pensions and other benefits for pensionable employees
of Hampshire County Council. Portsmouth and Southampton City Councils. the 11 district tounclls in Hampshire.
and a range of other scheduled and admitted bodies (under admi55ion agreements) within the county area
including the school. The Fund is overseen by the Pension Fund Panel and Board. which is a committee of
Hampshire County Council.
The surplus in the scheme is recogni5ed in the financial statements in accordance with FRS 102. The expenditure
recognised in the SOFA during the year is allocated to charitable activities. The scheme was revalued in April
2023 with the employer contributions rising from 23.1% to 23.4%.
During the previous year the school launched a new defined contribution pension scheme, Aviva Pension Trust
for Independent Schools IAPTISI, as an alternative scheme to the TPS with equivalent employer contribution
levels and flexibility for employees on the level of their contributions. As at 31 August 2024 a total of 34
employees were enrolled in this scheme and employer contribution5 were £256,543 in the current financial year.
In addition to providing pension contributions for current employees. the School also pays a pension to a former
employee as shown within staff costs.
CHURCHER'S
COLLEGE
Page 38

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 315T AUGUST 2024
DONATIONS AND LEGACIES- GROUP
2024
2023
Development donations
Donations from Richard Churcher Foundation Fund
102.508
459.788
186,670
157,739
562,296
344,409
OTHER INCOMING RESOURCES- GROUP
2024
2023
Tuck Shop income
Lettings
Trading income Churcherfs College Enterprises Limited
Disposal of asset
1.269
35.012
188.966
1,162
25,798
170,287
400
225.247
197,647
INVESTMENT INCOME-GROUP
2024
2023
Rental Income
Dividends & interest received
42,750
82,114
42,750
3,159
124,864
45,909
INCOME FROM CHARITABLE AcllviTIES- GROUP
2024
2023
Artivity
Education and grant making
Education and grant making
Education and grant making
Education and grant making
Gross school fees
Entrance and registration fees
Lunches and milk
Other income (excl shop income)
22.971,535
50,000
1,007,622
572,828
20,608,370
52,298
888,890
54,535
24,601,985
21.604,093
RAISING FUNDS-GROUP
Ralsinz donations and legacles
2024
2023
Raising donations and legacies- Richard Churcher Foundation
59,758
23,082
CHURCHER'S
COLLEGE
Page 39

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATEO FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
CHARITABLE AcnviTIES COSTS- GROUP
Grant funding
of activities Support costs
{See note 9) (See note 101
Direct costs
Totals
Education and grant making
Trading costs: CCE
20.824,292
325,073
2.050,474
95,738
3.498
22,970.504
328,571
21,149,365
2.050.474
99,236
23,299,075
GRANTS PAYABLE- GROUP
2024
2023
Bursaries and other grants and awards
2.050.474
1,833,799
io.
SUPPORT COSTS- GROUP
2024
2023
Legal fees
Auditors remuneration
Accounts preparation serVi￿S
Tax advisory services
75.386
17,230
6.120
500
95,901
18,720
5,700
500
99,236
120,821
ii.
TRUSTEES. REMUNERATION AND BENEFITS- GROUP
There were no trustees, remuneration or other benefits for the year ended 31st August 2024 nor for the year
ended 31st August 2023.
Trustees, expenses
During the year, one trustee was reimbursed a total of £83 for travel and 5ubs1Sten¢e expenses12023.. £2.561).
13.
STAFF COSTS- GROUP
2024
2023
Wages and salaries
Soci31 security costs
Other pension costs and apprenticeship lewi
10,733,724
1,161,872
2,309,791
9,663.659
1,053,568
2,095,189
14,205.387
12,812,416
CHURCHER'S
COLLEGE
Page 40

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
13.
STAFF COSTS- GROUP contlnued
None of the Trustees received any remuneration or other benefrts from Churcher's College or from any
connected body.
There were ten employees who are considered to be Senior Management within the College. Their total
remuneration durin8 the year amounted to £1.093,655. The highest paid member of the Senior Management
Team reteived total remuneration amounting to £244,854 excluding pension contributions.
The average monthly number of employees duringthe year was as follows-
2023124
146
34
31
19
14
2022123
141
33
26
18
13
Teaching
Administration
Technicians
Cleaners
Site
Nurses
248
234
2023124
2022123
Number of higher paid employees in bands of:
£60.0(M)- £70,000
£70.001- £80,000
£80,001- £90,000
£90,001- £IOO,O¢XI
£ioo.ooi - £iio,000
£110.001- £120.000
£120.001- £130.000
£130.001- £140,000
£140.001- £150,000
£150.001- £160,000
£160,001- £170.000
£170,001- £180,000
£180,001- £190,000
£190,001- £200,000
£200,001- £210,000
£210.001- £220,000
£220,001- £230,000
£230,001- £240,000
£240.001- £250.000
32
19
The number with retirement benefits accruing
in Defined Benefit schemes was
Of which the contributions amounted to
238
£822.153
229
£789,245
4&. CHURCHER'S
COLLEGE
Page 41

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YÉAR ENDED 31ST AUGUST 2024
14.
TANGIBLE FIXEDASSETS- GROUP
Freehold
property
Plant and
machinery
Motor
vehicles
Computer
equipment
Totals
COST
At 1st September 2023
Additions
Reduction in cost
31,864.109
485.225
1660,6501
1.074,042
316,070
32.990
710,221
8,031
33,681,362
809,326
1660,650)
At 31st August 2024
31.688.684
1,390,112
32,990
718,252
33,830,038
DEPRECIATION
At 1st September 2023
Charge for year
2.642,151
420.671
269.629
113,331
6,598
6,598
181,167
143,650
3,099,545
684,250
At 31st August 2024
3,062.822
382,960
13.196
324.817
3,783,795
NET BOOK VALUE
At 31st August 2024
28,625,862
1,007.152
19,794
393,43S
30,046,243
At 31st August 2023
29,221.958
804.413
26,392
529,054
30,581,817
In the opinion of the trustees all property assets should remain in these financial statement5 at historical cost.
During the financial year a dispute was settled in respect of additional costs incurred in the construction of the
Goodfield building. This resulted in a reduction in the overall build costs of £660.650 as disclosed in the note
above.
CHURCHER'S
COLLEGE
Page 42

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST Z024
15.
TANGIBLE FIXED ASSETS- CHARITY continued
Freehold
property
Plant and
machinery
Motor
vehicles
Computer
equipment
Totals
COST
At 1st September 2023
Additions
Reduction in costs
29.693.308
485,225
1660.6501
1,029,624
168,138
32.990
710,221
8,031
31.466,143
661,394
1660,6501
At 31st August 2024
29.517,883
1.197.762
32,990
718,252
31,466,887
DEPRECIATION
At 1st September 2023
Charge for year
2,097,717
374,574
269.629
104,319
6.598
6.598
181,167
143,650
2,555,111
629,141
At 31st August 2024
2.472,291
373.948
13,196
324,817
3.184,252
NET BOOK VALUE
At 31st August 2024
27,045,592
823.814
19,794
393,435
28,282,635
At 31st August 2023
27.595,591
759,995
26,392
529,054
28.911,033
16.
FIXED ASSET INVESTMENTS- GROUP
Listed
Investments
MARKETVALUE
At 1st September 2023
Additions
Revaluations
11,256
6,605,969
69.841
At 31st August 2024
6,687.066
NET BOOK VALUE
At 31st August 2024
6,687.066
At 31st August 2023
11,256
CHURCHEII'S
COLLEGE
Page 43

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAI STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
16.
FIXED ASSET INVESTMENTS- CHARITY
Share5 in
group
undertakings
Listed
investments
Totals
MARKET VALUE
At 1st September 2023
Additions
Revaluations
1.6(N).000
11,256
6,605,969
69,841
1,611,256
6,605,969
69,841
At 315t August 2024
1,600,0(K)
6,687,066
8,287,066
NET BOOK VALUE
At 31st Au8USt 2024
1.600,0
6,687,066
8,287,066
At 31st August 2023
1.61XJ.000
11,256
1,611,256
The investment in the subsidiary company was made to enable it to construct certain buildings that are used
primarily by the Charity. Those assets were revalued to £1.600.000 in the financial statements of the company at
31 August 2018. Thi5 revaluation has been reversed in the financial statements of the subsidiary and the assets
are now depreciated. The net book value of those assets is £1.580.271 and therefore the trustees do not consider
any change is required to the value of the investment as at 31 August 2024.
The listed investments are held and administered by Cazenove Capital. The investments are in a variety of UK
Government Treasury Stocks and Gilts with maturity dates between 2025 and 2030.
There were no investment assets outside the UK.
Subsidiary
Chur¢hers College Enterprises Limited
Nature of business.. Operation of Sport Facilities
Class of shares-
Ordinary
holdin8
IC().(M)
2024
2023
A88regate capital and reserves
Turnover
Profitllloss) for the year
1.465.117
305,248
130.2531
1,495,370
271,760
1170,0381
CHURCHER'S
COLLEGE
Page 44

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
17.
INVESTMENT PROPERTY- GROUP AND CHARITY
MARKET VALUE
As at 1st September 2023
Additions
950,000
380.OCrf)
At 31st August 2024
1,330,0
NET BOOK VALUE
At 31st August 2024
1,330,000
At 31st August 2023
950.000
The investment properties were informally valued by the trustees as 31 August 2021 by reference to local market
conditions and value of similar properties in the are3. The addition during the year is stated at cost.
18.
STOCKS- GROUP AND CHARITY
2024
2023
Stocks
1.333
735
19.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
GROUP
CHARITY
2024
2023
2024
2023
Trade debtors
Other debtors
Amounts owed by related undertaking
Prepayments and accrued income
VAT
136.989
6.596
257,831
3,259
136.617
6.588
282,501
411.063
258,705
3,259
105,072
84.748
411.063
4.751
84,748
2.857
559.399
348,695
836.769
451,784
20.
CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR
GROUP
CHARITY
2024
2023
2024
2023
Bank loans and overdraft (see note 231
Fees received in advance lsee note 22)
Trade creditors
Deposits from parents
Other creditors
Accrued expenses and deferred income
262.864
6.066.608
1.095.782
136.867
132.660
471.101
1.175,169
3,486,564
685,565
127,6
154,798
372,754
262.864
6.066.608
1.069.464
136.867
132.610
467.601
1,175.169
3,486,564
660,448
127,600
154,758
318,132
8.165.882
6.002,450
8,136.014
5,922,671
CHURCHER'S
COLLEGE
Page 45

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
21.
CREDITORS: AMOUNTS FALUNG DUE AFfER MORE THAN ONE YEAR
GROUP
CHARITY
2024
2023
2024
2023
Bank loans (see note 231
Fees received in advance (see note 22)
Deposits from parents
3,629.514
4.946,212
1.109,125
3,892.563
4S8.407
1.024.892
3,629,514
4.946,212
1.109.125
3.892.563
458,407
1,024,892
9,684,851
5.375,862
9,684,851
5,375,862
zz.
FEES IN ADVANCE SCHEME- GROUP AND CHARITY
Included within fees in advance are amounts from parents who pay by direct debit in advance of the next terms
invoice which totalled £2.758,307 {2023- £2,907.710).
The remaining element is where parents enter into a contract to pay tuition fees in advance for up to seven
years. Fees in advance are generally non-refundable and may only be returned subjed to specific conditions on
the receipt of notice of withdrawal of the pupil. Assuming pupils will remain in the College, fees in advance will
be applied as follows..
2024
2023
Within one year
Within one to two years
Within two to five years
3.308,301
2.092.540
2.853.672
578,854
226,717
231,690
8.254.513
1,037,261
CHURCHER'S
COLLEGE
Page 46

CHURCHER'S COLLÈGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
23.
LOANS- GROUP AND CHARITY
An analysis of the maturity of loans is given below:
2024
2023
Amounts falling due within one yearon demand-
Bank overdraft
Bank loans
919,063
256,106
262,864
262,864
1.175.169
Amounts fallin8 due between two and fNe years:
Bank loans - 2-5 years
1.127,844
1,097,338
Amounts falling due in more than five years:
Bank loans more Syr
2,501.670
2,795,225
The bank loans disclosed above are made up as follows-
Goodfield Project Development
The charity entered into a phased drawdown loan with Lloyds Bank plc in July 2019 to support the construction
of the new buildings on the Senior School site. The maximum facility available wa5 £4.500,000 and as at 31
August 2023 £4,500,000 ha5 been drawn in four tranche5 of £1.000.1￿0 in March 2020, July 2020. December
2020 and August 2021 and one tranche of £500.000 in March 2022.
All tranches were subject to a capital repayment holiday until March 2022. Interest is being charged at the all-in
rate of 2.905% in respect of the first tranche, 2.555% for the second tranche. 2.359% for the third tranche,
2.793% for the fourth tranche and 3.07% for the fifth tranche. The loan will be repaid over a fifteen year term.
All loans are secured by way of a first legal charge over the freehold land and property owned by the charity
together with an unlimited debenture.
CHURCHER'S
COLLEGE
Page 47

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIALSTATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
24.
PENSIONS
The charity participates in the Hampshire Pension Fund which 15 a rnulti-employer defined benefit pension
scheme administered by Hampshire County Council.
The scheme was subject to a triennial valuation as at 31 March 2022 and the artuarial report was published on
31 March 2023. There is an overall surplus within the scheme at the valuation date. Using a lower risk funding
level of 102.3% the share of the surplus attributable to Churcherfs College as at 31 March 2022 amounted to
£219,000.
The charity was previously required to make contributions over a 16 year period to earlier deficits within the
scheme but these contributions ceased during the year having repaid a further £20.000. An over payment of
the fixed contributions resulted in a refund of £8,334 being paid back to the school.
The remaining deficit included in the financial statements at the date contributions ceased was £158.204. Given
the overall surplus this liabilitywas reduced to nil in the financial statements for the year ended 31 August 2023.
We understand the Government Actuarfs Department are currently investigating the consequences of the
Virgin Media legal case on the Hampshire Pension Scheme. At this point in time there remains insufficient
information to assess the potential impact, so we are unable to quantify it. This will be kept under review.
25.
LEASING AGREEMENTS- GROUP AND CHARITY
Minimum lease payments under non-cancellable operating leases fall due as follows..
2024
2023
Within one year
Between one and five years
94,169
175,640
73,463
83,897
269.809
157,360
CHURCHER'S
COLLEGE
Page 48

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
26.
MOVEMENT IN FUNDS- GROUP
Net
movement
in funds
At
31.8.24
At 1.9.23
Unrestricted funds
General fund
12.120,153
1.816,706
13.936,859
Restrlcted funds
RCF
1.432.790
408,694
1,841.484
Permanent Endowment Fund
7.440.477
7,440.477
TOTAL FUNDS
20,993,420
2,225,400
23,218,820
Net movement in funds. included in the above are as follows..
Incoming
resources
Resource5
expended
Gains and Movement in
losses
funds
Unrestricted funds
General fund
25.(K)4.014
123,253.2551
65.947
1,816,706
Restricted fund5
RCF
510.378
1105.5781
3.894
408,694
Permanent Endowment Fund
TOTAL FUNDS
25,514.392
123.358,8331
69,841
2.225,400
The trustees have agreed that the Permanent Endowment Fund should be made up of those assets transferred
to Churcher's College under the Charity Commission Scheme dated 31 August 2017 as adjusted by the
revaluation carried out on I September 2017.
Any additions to those assets and 3sSOClated depreciation will be treated a5 part of unrestricted fund5.
CHURCHER'S
COLLEGE
Page 49

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
26.
MOVEMENT IN FUNDS-GROUP continued
Comparatlve movement lfi funds
At 1.9.22
Prior year
adjustment
Net
movement in
funds
At 31.8.23
Unrestrlrted funds
General fund
9.975.601
1,571,270
573.282
12.120.153
Restrlrted funds
RCF
1,359.256
73,534
1,432,790
Permanent Endowment Fund
10,403.953
(2.963.476)
7,440,477
TOTAL FUNDS
21.738,810
11.392,2061
646,816
20,993,420
Net movement in funds, included in the above are as follows-
Incoming
resources
Resources
expended
Gains and Movement in
losses
funds
Unrestrlcted funds
General fund
21.959.479
121.544.4011
158.204
573.282
Restricted funds
RCF
232.579
{157.7401
11,3051
73,534
Permanent Endowment Fund
TOTAL FUNDS
22.192,058
121,702,141)
156,899
646,816
CHURCHER'S
COLLEGE
Page SO

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
26.
MOVEMENT IN FUNDS- CHARITY continued
Net
movement
in funds
At
31.8.24
At 1.9.23
Unrestricted funds
General fund
12.224.783
1.846,959
14,071,742
Restrlcted funds
Richard Churcher Development Fund
1.432.790
408.694
1,841,484
Endowrnent funds
Endowment fund
7.440,477
7,440,477
TOTAL FUNDS
21,098,050
2,255,653
23,353,703
Net movement in funds. included in the above are as follows.
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlrted funds
General fund
24.821.979
123.040,9671
65,947
1.846,959
Restricted funds
Richard Churcher Development Fund
510.378
{105,578)
3.894
408,694
TOTAL FUNDS
25.332,357
123,146,545)
69,841
2.255,653
. CHURCHER'S
COLLEGE
Page 51

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENOEO 31ST AUGUST 2024
26.
MOVEMENT IN FUNDS- CHARITY contlnued
Comparatfve movement In funds
At 1.9.22
Prior year
adjustment
Net
movement in
funds
At 31.8.23
Unrestrirted funds
General fund
9,975,597
1.505.866
743,320
12.224.783
Restrlcted funds
RCF
1,359,256
73.534
1.432.790
Permanent Endowment Fund
10.403.953
12.963.476)
7,440,477
TOTAL FUNDS
21.738,806
11,457,610)
816,854
21.098.050
Net movement in funds, included in the above are as follows-
Incoming
resources
Resources
expended
Gains and Movement in
losses
funds
Unrestrlcted funds
General fund
21.795.657
(21.210.541)
158.204
743,320
Restricted funds
RCF
232,579
{157.740)
11.3051
73,534
Permanent Endowment Fund
TOTAL FLINDS
22,028.236
(21.368,281)
156,899
816,854
CHURCHER'S
COLLEGE
Page 52

CHURCHER'S COLLEGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31ST AUGUST 2024
27.
RELATED PARTY DISCLOSURES- GROUP AND CHARITY
During the year Churtherfs College charged £6,930 (2023: £6,465) to Churcherfs College Enterprises Limited for
the provision of staff and administrative services. Churcherfs College Enterprises Limited charged Churcher's
College £116.28212023: £101,473) for swimming pool hire. At the year-end £282,50112023.. £105,072 owed bv
Churcherfs College) was owed by Churcherfs College.
Mr R May, a trustee of the Charity and director of the Company. is also a director of Ramsac Llmited. During the
year costs of £32,47312023- £10,712) were incurred by the school in respect of IT services from Ramsac Limited.
. CHUKCHER'S
COLLEGE
Page 53