Company No. 13396877 Registered in England Charity No. 1194790 St John's College School, Cambridge ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2022 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT AND FINANCIAL STATEMENTS Contents Page Governors, Officers and Advisers Annual Report of the Governors Statement of Accounting and Reportlng Responsibilities Independent Auditor's Report Statement of Financlal Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements 3-10 11 12-14 15-16 17 18 19-33 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE GOVERNORS. OFFICERS AND ADVISERS PERIOD ENDED 30 June 2022 GOVERNORS, DIRECTORS AND CHARITY TRUSTEES The Governors of Si John's College School l-the School'l are the School's charity Iruslees under charily13w and the directors of the charilable company. The members of the Governing Body who served in office as Governors during the period and subseouenlly are detailed below.. Lindsay D¢)dsworth IChair} {8ppointed 13 September 20211 Dr. Dean While 18ppoinled 14 May 2021 } Susan Wessels , lappoinled 14 May 20211 Paul Taylor Ivice-Ch8ir} lappoinled 14 May 2021, acting chair 13 July 10 13 September 20211 Richard Murray 13ppointed 14 May 2021) Professor Deborah Howard (appointed 14 May 20211 Professor Ann Louise Kinmonlh lappoinled 14 May 2021, Chair lo 13 July 2021, resigned 13 July 20221 lappoinled 14 May 20211 lappoinled 16 Augu5120221 {3ppoTrnled 16 Augusl 20221 | lappoinled 16 Augusl 20221 lappoinled 16 August 20221 Patrick Blakesley Gordon Cameron Jonathan Cumming | Darren Jordan l Dipika Shah Faisal 8abar, (Company Secielary} lappoinle(114 May 2021. reS￿ned 1 August 20221 Agnes Chiano (Company Secretary lappoinled 1 August 20221 Finance and General Purposes Subcommiilee 121 Educalion & Welfare Subcommittee 131 Nomination Subcommillee The work of the Governing Body is SUPKMYted by Ihe above sub-commillees_ Each ol Ihe sub-commillees, which are not decision making bodies, have wrillen term5 01 reference which delail their aulhorily and duties. Pageli ST JOHN'S COLLEGE SCHOOL. CAMBRIDGE GOVERNORS, OFFICERS AND ADVISERS (continued) PERIOD ENDED 30 JUNE 2022 Senior management team Neil Chippinglon Agnes Chiano Faisal Babar H88dmasler Bursar and Company Secrelary appointed l August 2022 Bursar and Company Secretary reswned l August 2022 Deputy Head and Head of Byron House Director of Operations DffeCt￿ ol Studies Allhea Pipe Alex Loria Tristan Igglesden Jude Worthinglon Lisa Bedford Deputy Head (Byron House) Assislanl Head Paslcwal (sen￿ House) Housemasler Steven Glilherow Princlpal address and Registered Office Sl. John's College School 73 Grange Road Cambridge CB3 9AB Sollcltors Ashtons Legal Solicitors Chequers House 77-81 Newmarket Rd Cambridge C85 8EU Audltors Crowe U.K. LLP 55 Ludgale Hill London, EC4M 7JW Bankers Barclays Bank plc Benel Street Branch P.0. Box 2 Cambridge. CB2 3PZ Website WWW.5jcs.co.uk Page12 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 The members of the Sl John's College Schod CambrKlge's Governing Body present for the perh)d ended 30 June 2022 their Annual Report under the Charities Act 2011 commencing from incorporation on 14 May 2021, incorporating their Directors, and Strategic Reports under the Companies Act 2006, together with the audiled financial statements ol Ihe School. The Company wa5 dormanl then until il started operatin9 when the assets and liabililies was transferred from Sl John's College from 10 Seplember 2021. REFERENCE AND ADMINISTRATIVE INFORMATION Sl John's College School traces Ils roots lo Ihe Sevenleenlh Century when Il was founded by Sl John's College for the education of the Choristeis ol the College Choir. The Chor151ers conlinue lo be educated in a school which now numbers 460 boys and girls aged 4-13. Si John's College School Cambridge moved lo ils present loealion in one of the most allraclive parts of Cambridge in 1955, and doubled in size upon amalgamation wilh the former 8yTon House School in 1973. 11 Is consliluled as a company limited by 9uaianlee regislere(S In England. No. 13396877 and is regislered with the Charity Commission Under Charily No. 119479) on 14 June 2021. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng documents The Schts)l is 9overned by ils MernorarKlum of Association and Ariicles of Association last amended on 14 May 2021. Governlng Body The Governing Body is self-appoinling, and Should comprise no fewer Ihan five and nol more than twelve members. Governors hold office for 3 years, although any reliring governor who remains quaIrf￿d may be fe-appoinled, provided that they do not serve lor more than three consecutive terms of ctffice. New members ol the Goveming Body are elecled on the basis of nominalions from the Governors and the executive officers based on the candidates, prOfesS￿)nal qualit￿s. experience, personal competence and local availability. Recrultment and tralning of Governors Governors are recruileé through an independent process led by the Nominations Commillee with Ihe objective of creating a Board with diversity of knO￿edge and exper￿nCe among the Governors. New Governors are inducted into the workings of the School, including Goveining Body policy and Pfocedvres, by the Headmaster and Bursar. The new Governofs undertake training on the role and responsibililies of charity Iruslees. Members of the Governing Body allend exlernal iruslee Iraining and infofmalion courses designed lo keep them inlormed and updated on current Issues in Ihe seclor and regulatory requirements. Organlsatlonal management The members of the Governing Body, 85 Ihe charity Irustees, are legally responsible for the overall management and control of the School. They meet three times a year. The governing body has established three Subcommillees. Ihe Education & Welfare Subcommillee, the Finance & General Purposes Subcommillee and the Nominatiorb Subcommillee. The Education and Finance Subcommittees have wrillen terms ol reference which detail their aulhofily and dulles. The Finance and General Purt>Oses Subcommittee lakes delegaled fesponsibilily on behalf of Ihe Governing Body lo provide overview and scrutiny of Ihe work of the Execulive in the areas ol Finance and Health and Safely. This includes a¢ling as a sounding board for new initiatives an(J the on-going monitoring and review of policies and practice In these areas, and making recommelldalion5 as appropriate lo the Governors. This Subcommittee also supervises and finalises Page13 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 the audited financial slalemenls arKI annual report for approval by the Governing Body. The Finance and General Purposes Subcommittee is chaired by Dr Dean While. The Education & Welfare Subcommittee lakes delegated responsibility on behalf of the Governing Body lo provide overview and scrutiny of the work of the Executive in the areas of Education (academic. co-curricular and paslorall and Welfare lincluding Safeguardingi. This Subcommittee is chaired by Paul TaO0r. The d8y-lo-day runnin9 of the School is delegated lo the He8dmasler. He is supported by the Senior Managefflenl Team and together Ihis group are the key management personnel Isee page 21. The Headmaster allends all meetings of the Governing Body's Commiltees, as does the Chair of Governors," the Headmaster and the Bursar attend all meetings of Finance and General Purposes Subcommittee. Remuneration is sel by the Governing Body. with the policy objective of providing appfopriale incenlives lo encourage enhanced performance and of rewarding laidy and responsibly individual contributions to the School's success. The approprialeness and relevance of Ihe remuneration ￿lIcY is reviewed annually, including reference lo comparisons with other independent schools lo ensufe that the School femains sensitive lo the broader issues of pay and employment conditions elsewhere. Delivery of the Scttool's charitable vision and purpose is primarily dependent on our key management personnel and staff cosls are the largesl 51ngle element of our charitable expenditure. Group structure and relallonshlps SJCS International Lirniled, is a subsidiary and is controlled by the S¢h¢)ol. 11 was sel up by Sl John's Cdlege in 2017 as a company limiled by shares and transferred lo Si John's College School in 2021. The primary purpose of the company is lo licence the Intellectual property ol the School lo a partner in China In return for a fee with the aim ol selling up nurseries overseas in the School's name. The annual taxable profits of the subsidiary are donated lo the School under the Gill Aid scheme. The results ol the subsidiary are not consolidaled into these financi31 slalemenls as Ihe School is iisell a subsidiary ol a laiger group, Sl John's College. The resulis of the subsidiary are therefore consolidated in the results of Si John'$ College as ultimate parent of the Group. St John's College On 10 September 2021, the activities of Ihe School were transferred from St John's College inlo a company Ilmiled by guarantee, Sl John's College School, Cambridge whieh is a separately registered charily. The College is the sole member of the company and the School Governors are the difeclors and the charity Ifuslees. The nel assets of the School, including reslricled and endowmenl funds with reslTicled purposes lor the School, were also transferreé lo the School on 10 September 2021. The fair value ol the assets Iransferred was £5,416k and this was recorded as expenditure in the College Statement ol Comprehensive Income. OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES Charitable Objects The School's Object, as sel oul in the Articles of AsscKiation, is to Pfomole and provide for the advancement of educallon of pupils of any age. In lurtherance of this Object for the benefrf the School has established and administers bursaries. Aims and Ethos St John's College School is a caring community that aims lo provide an oulsianding education lo boys and girls aged 4 -13. We aim lo foster Ihe apliludes and nurture the growth of each child io enable them lo become their best selves in the fullest sense. Respect for children, faith in children and an ability lo see the world through their eyes informs our leaching and our caie. Page14 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 Pastoral Care and Wellbelng We believe that emotional and social wellbeing, self-awareness and conlKlence are inexlrlca￿Y linked with academic progress. Creatlvlty We encourage children lo become independent, creative ￿arnerS and critical thinkers. equipped wilh the skills lo collaborate, problem-solve, self-reflecl and adapt. Academic Excellence We aim lo offer an oulslanding education through a rich and broad Cufriculum which enables children lo leach the highesl levels of altainmenl supported by the very besl quality of leaching, premises and resources. Communlty We encourage children lo have a generosity ol spiril an(i compassion in a global society and lo embody the values of love, honesty, kin(Jness, respect, service and Irusl in their community and beyond. Intended Impact Within Ils charitable Objeels, the School's inlenlion is lo provide a lirsln's guidance on public benefil. Page17 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 ACHIEVEMENTS AND PERFORMANCE School performance Our Year 8 leavers achieved excellent academic slandards and passed competitive exams lo enter senior schools of Iheir ehoice. 61 pupils achieved places at the following schools, some with awards.. 13 to The Perse Upper 11 lo Stephen Perse Foundalion {one aCadeffi￿ scholarship.. one sport seholarshipl 10 to The Leys Itwo drama scholarships", one music scholarship., one sport scholarshlp) 9 to King's Ely Ilwo music scholarships." one joint academie and drama scholarship} 6 to Oundle {one academic schcAarship,' Iwo Oundle scholarships,. one sport award) 2 to Elon Ilwo music exhibit￿n$} 2 lo Si Mary's lone creative writing scholarship) 1 each to.. Bedford.. Culford.. HarTQW lone mussc scholarship)-. Royal Hospiial School. 1p5￿Ch., Sanclon Wood,. Stoke College,. Uppingham., local secondary school. Other school academi¢ highli9hls included.. Year 7 Junior Maths Challenge certifThles." 20 Bronze, 3 Silver, 7 Golds. Year 8 Junior Maths Challenge certificates.. 10 Bronze. 13 Silver, 13 Gold. Year 516 teams qualified lor the Nalional Prep-school Science Quiz final. Yeaf 516 teams qualified for the National Prep.School Malhs Quiz final. Four Year 8 children ¢ame in the lop 250 01 Townsend-warner History Prize lone was placed 45th nallonallyl. Year 8 won the Latin play competition al the Per5e School. A Year 7 pupil was the winner in the Easl region for the Anlhea Bell Prize for Young Translators in French Sport The School was eventually able to return to a full programme of swting activities and fixtures during the year. Many teams enter local and national compelilion Of note was Ihe success of the U13 boys hockey side finishing 31¢ in a re9ional compelilion. They also finished runners up in the County and 3nY in the East Region in the annual England Annual Hockey U13 lournamenl. A Year 6 and Year 8 pupil also had consideiable success al the East Area Prep School Athlet￿5 competition in the summer lemi. Muslc The School and the boy and girf choristers of Sl John's College Choir have been able lo return lo a more normal schedule musically. In Ihe School, 50 concerls have taken place over the course ol Ihe year as well as carol services and class concerts. Three pupils achieved dislinclions in ABRSM Grade 8 exams. As well as the 20 choristers of St John's College who Ihe School educate. 2 pupils sing in the Jesus College Choir, 3 in the Sl Calharine's College Girls. Choir and 3 pupils are members of the Nalional Youth Choirs of Greal Britain. Drama Every year group in Ihe School perfomis a play each year. Highlights include Receplion and Year 1 Nativily plays, Year 7's production of 'Bugsy Malone, and Year 8's performance of our annual 'Pa5sion Play.. Art and Design and Technology continue to produce high standards as curriculum and CO4Ufricular opportunities within the life of the School. Pupils enjoyed using Art lessons lo produce work for the School's celebralion ol the Queen's Platinum Jubilee. The School's subsidiary has contributed lo the above achievemen15 by generating a trading Sufplus for donation lo the School as reFxJrted below. Page18 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 FINANCIAL REVIEW Results for the year The nel movement in funds in the peiiod was £6.7m. induding the transfer of nel assets from the College of £5.4m and nel income from charitable activities of £1.6m. The school does not have comparative figures from previous year and this is ils first Irading year as a separate legal enlily from Sl John's College. On the dale of transfer from the College the School entered into a 30-year lease on the buildings and grounds. The lease has a 12 monlhs. notice peiiod. A loan of £3.4m w25 also transferred lo the school., the loan is repayable over the nexl 15 years. Endowed funds The school's endowment consists of nLtmerous individual grfis, legacies atKI grants given lo the school over many years for specrfic purposes. A distinguishing feature of all these funds is the donor's express requiremenl or implicit intention that the funds shall not be spent immediately bul should be relained fof the medium or long term. Where the retention of capital is explicitly indicated and Ihere is no power lo expend capital as income. the capital is shown as permanent endowmenl. otherwise as expendable endowment In both cases income arising is shown as re$lricted funds. These funds are invested in Ihe Si John's College consolidaled Trust Fund. which is a pooled portfolio of stocks and Shares, and cash. These funds are controlled by the College and the College does not share details of Ihe investment performance with the School The School doe5 not have delails of Ihe performance against expeclalion. Reserves policy and financial viability The Governors recognise Ihe need for wudenl financial management of the School's borrowings and lo build reserves over lime. The School's policy is lo build reserves lo a prudent level, considering the need lo maintain Ihe School sile and fund future capital expenditure, all the while retaining sufficient UnreStr￿ted income reserves lo enable the School lo continue lo meet ils shorl.lerm financial obligations in Ihe event of an unexpected revenue shortfall. As al the end ol the wriod lo June 2022, the lolal funds were £6.7m which comprises, Endowment funds of £1.4m, Reslricled funds of £70k and Unreslricled funds of £5 3m. Wilhin unreslricled funds were designaled funds including the net book value of fixed assets of £7.8m The ffee reserves of the School are currenlly in defi¢il of £2.5m lunreslricled funds less designated funds and NBV of fixed asselsl. PRINCIPAL RISKS AND UNCERTAINTIES The major risks lo wh￿h the School m¢ghl be exposed are regularly considered by Ihe Senior Management Team and the Governing Body through review of the risk regisler. Where appropriate. sleps are taken lo miligale identified risks and, if appropriate, lo insure againsl the polenlial financial Impacl of the residual risks. The Governors consider that Ihe necessary steps have been taken and conlinue lo be taken lo Klenirfy and miligate major risks. The principal risks that the School faces are.. The impact of the economy on parents ability lo pay fees. and other pre55ures on cash flow leading lo a reduction of pupil numbers. Careful review and Selling ol fees and remuneralion annually lakes inlo consideration Ihe wider economic picture. The impact of pOSs￿bIe future changes lo existing charitable exemplions (VAT, corpofalion lax. loss of mar¢dalory business rale relief. The Governing Body considers fulure changes in its regulaf review of the finances and models worst case scenarios. Retention ar¢d recnjitmenl of quality staff in Ihe context of a national shortage of teachers. The School unijertakes regular reviews of Ils staff, including their well-being. and maintains an undeislanding of teachers, views through regular professional development meetings. The impact of a loss of inlraslruclure. whelher that be access to bu￿￿Fngs {e.g. fifel or a loss of IT systems, including by a Cyber-attack. The School undertakes regular lours of inspecliori of its sile Including seeking advice from external profess￿nal5 and reviews its IT systems including ils vulnerability to cyber-attacks. Page19 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 Detailed consideration of risk is delegated to the Finance and General Purposes Subcommillee. ￿lch reports formally lo the Governing Body each autumn. The siruclure of the Subcommiltee comprises al least three members of the Governing Body. assisted by Senior Management. The risk management process and the resulting Report identifies risks, assesses their impact 2nd Likelihood and. where necessary. recommend5 controls lo miligale and monitor those risks Ihal are assessed as hHJh. The generic conlrols used by the School lo minimise risk include.. detailed lerms of reference logelher with formal agendas for Subcommittee and Governing Body aclivily, strategic developmenl planning, reviewed by the Goveming Body." comprehensive budgeting and management accounting". established organisalional structures and lines ol reporting.. fofmal wrillen policies in¢luding dear aulhofisation and approval levels., velling procedure3 as required by law for Ihe proleclion of Ihe vulnerable. The Governors reg¢Jlafly review the effecliveness of curyenl plan5 and stralegies for man8glng all identified major risk$ for tK)Ih the School and ils subsidiary. FUTURE PLANS The School's current Development Plan was agreed by the Governors in June 2022 and is subject lo an annLtal review by the Govefnors. The primary future plans for the School are sel oul in Ihe core elements of the Development Plan. These are outlined in the strategies lo aCh￿ve the primary objectives on page 6 above. As slated. the Governing Body agreed that any major inilialives would be considered over the four-year period 2022 10 2026. subjecl lo available funding In addition lo continuin9 to slrenglhen the School's pasloral care and leaching and learning, the Governing Body have identified seven main areas lo meet their primary obieclives.. Marketing: a focus on marketing In the medium lerm i% required lo give the School grealer conlrol over pupil numbers by reducing as much uncertainly as possible in the admissions proces5 and increasing enquiries. Bursarles.. Governors are commilled lo Improving accessibiSily through building an endowment lo finance bursaries in the future. This endowment is lo be buill thrimjgh fundraising. Dlvorsltyl Incluslon and Equlty.. The School is commilled lo bein9 as diverse, indusive and equrtable as possible in all il undertakes. Envlronmgntal sustalnablllty. The School is commilled lo being as environmentally sustainable as possible and will work lo build a slralegy lo meet this aim in the short term. Partnership and outreach.. The School is al￿adY commilled lo partnership and outreach work which il wishes lo expand, particularly in the local community. Facilltles. The Govefnors wish lo ensure that the facilities remain as good as possible lo help deliver a high standard ol education. Thefe is a pressing need to rebuild or refurbish the swimming pool and the cost will be mel Ihrough fundraising. R•latlonship with St John's College." this good relationship wilh Sl John's College is fundamental lo the School succeeding and achieving ils aims and objeclives. Fundraising As al the period ending 30 June 2022, the schod has no disclosures lo make surrounding the Fundraising requirements brought in by the Charities (Proleclion and Social Inveslmenll Act 2016. STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES The members ol the Governing Body (who are also the director5 01 Sl John'5 College School, Cambridge for the purposes of company lawl are responsible for preparing the Annual Report and the financial slalemenls with applicable law and United Kingdom Generally Accepted Accounting Praclice {Uniled Kingdom Accounting Slandardsl. Company law requires the Governing Body lo prepaTe financial slatements for each financial year. Under that law the Governing Body are required lo prepare the financial statements In accordance with United Kingdom Generally Accepted Accounting Practice and applicable law. Page | 10 ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE ANNUAL REPORT OF THE GOVERNORS PERIOD ENDED 30 JUNE 2022 Company law reqLtires the members of the Governing Body lo prepare financial statements foi each financial year. Under company law the Governing Body members must nol approve the financial statements unless they are satisfied that they give a true and lair view of the stale of affairs of the Gharitable company and the group and of the incoming resources and application of resources, including Ihe income and expenditure. of the charitable group for that period. In preparing these financial slatemenls, the Goveming Body members are required to-. select the most appropriale accounting policies and then apply them consislenlly." observe the methods and prinuples in Ihe Chaiilies SORP.. make judgments and accounting estimates that are reasonable and prudent.. slate whether applicable Accounting Standards have been followed. subject lo any material departures disclosed and explained in Ihe financial slalemenls", and prepare Ihe financial slalements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in business. The members ol the Governing Bo¢Yy are responsible for keeping adeqLtale accounting records that are sufficient lo show and explain the Charitable company's Iransaclions, disclose with reasonable accuracy al 8ny lime the financial position ol the Charitable company and enable them lo ensure that the financial statements comply with the Compan￿5 Act 2006 and Ihe provisions of the charily's conslilulion. They are also responsible for safeguarding Ihe assets of the charity and the group and hence for taking reasonable steps lor Ihe prevention and delection ol Iraud and other Srregularilies. Relevant audlt Informatlon Insofar as each of the Governors, as directors of the charilable company, al the dale of approval of this report is aware there is no relevant audil inlormalion linlormalion needed by Ihe company's auditor In connection with preparing the audit report) of which the company's auditor is unaware. Each member of the Goveming Body has taken all the steps that he or she should have taken as a member of Ihe Governing Body in order lo make himself or herself aware of the relevant audit information and lo establish that the company s au(Silor is aware ol that information. This Annual Report. including the Strategic Report. was approved by the Goveming 80(5y of the School on 22 November 2022 including, in their capacity as company directors. approving the Directors, and signed on ils behalf by.. Llndsay Do Chair ol Governing Body rth Pagel 11 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STJOHN'S COLLEGE SCHOOL, CAMBRIDGE Opinion We have audited the financial ststements of Sl John's Cdlege School, Cambridge I'lhe charitable company'l for the period ended 30 June 2022 which comprise the Slalemenl of Financial Aclivilies, Charity Balance Sheet, Slalemenl of Cash Flows and notes lo the financial slalemenls. induding signrficanl accounting policies. The financial reportin9 framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial stalemenls.. give a true and fair v￿W of the slate of the charIta￿e company's affairs as al 30 June 2022 and of the charitable company s income and receipts of erKlowmenls and expendilufe. for the period Ihen ended.. ave been properly prepared in accor(Jance with United Kingdom Generally Accepted Accounling Practice.. and have been prepared in accordance with the requirements of ihe Companies Acl 2LN)6. Basis for oplnlon We conducled our audit in accordance wlh Inlernalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities undef those star￿ardS are further described in Ihe Auditor's responsibilities for the audit ol the linancial slalemenls seelion of our report. We are independent of the charilable company in accordance with the ethical requirements that are relevanl lo our audil of the financial slalemenls in the UK. including the FRC'S Ethical Standard. and we have fullilled our other ethical responsibililies in accordance wilh Ihese requiremenls. We believe that the audit evidence we have oblained is sufficient and appropriate lo proV￿e a basis for our opinion. Concluslons relating to golng concern In auditing the flnancial slalemenls, we have conduded that the Iruslee's use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed. we have rsol idenljfied any material uncertainties relating lo events or conditions that, individually or colleclively, may east significant doubl on the charitable company's ability lo continue as a going concern for a period ol al least twelve months from when the financial stslemenls are aulhorised for issue. Our responsibilitie5 and the responsibilities of the Iruslees with respect to going ¢oncem are described in the relevant sections of this report. Other Infom)atlon The Iruslees are responsible for the olhef information contained within the annual feptsrt. The other information comprises the information included In (he annual report, olher than the linancial sialements and our auditor's report Ihereon. Our opinion on the finanei81 slalemenls does not covei Ihe other Information and, excepl lo the exlenl otherwise explicitly slated in our report. we do not expfess any lorm of assurance conclusion thereon. Our responsibility is lo read the other Informal￿n and. in doing so. COns￿eT whether the other information is materially inconsislenl with the financial slatemenls or our kTr0￿edge obtained in the audit or otherwise appears lo be materially misslaled If we identify such material inconsislencies or apparent material misstalemenls. we are required lo determine whether this gives rise lo a material misslalemenl in the linancial slalements themselves. If, based on the work we have performed, we conclude that Ihere is a material misstalemenl of this other information, we ale required lo report that fact. We have nolhing lo report in this regard. Opinions on other matters prestrlbed by the Companles Act 2006 In our opinion based on Ihe work undertaken in the course of our audtt the information given in the Iruslees. report, which indude5 the directors. rep)rt Prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consislenl with the financial slalemenls.. and the direclofs. report included within Ihe Irvslees, report have been prepared in accordance wtth applicable legal requirements. Page | 12 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE (continued) Matters on which we are required to report by exception In light of the kno￿edge and understanding of the charrt8ble Company and their environmenl obtained in the course of the audit, we have not idenlrfied material misstatements in the (Jireclors, report included within the Iruslees. report. We have nothing lo report in respect of the following matters in r￿al￿n lo whtch the Companies Acl 2006 requires us lo report lo you rf, in our opinion.. adequate and proper accounting records have not been kepl., or the financial slalemen15 are not in agreement wlh the accounting records and returns,. or certain disclosures of Iruslees. remuneration specified by law are not made.. or we have nol received 811 the inforfflalion and eX￿anationS we require for our audsl. Responsibilitles of trustees As explained more fully in the Iruslees. responsibilities slalemenl, the Iruslees (who are also the directors of the charitable company lor the purposes of company lawl are responsible for the preparation of the financial slalemenl$ and for being satisfied Ihal they give a Irue and fair v￿w, and for such Internal conlrol as the Iruslees determine is necessary lo enable the preparation ol financial slalements Ihal are free from material misstalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the Iwslees are responsible for assessing the charilable company's ability lo continue as a going concern, disclosing. as appl￿ble, matters related lo going concern and using the going concern basis of accounling 4Jnless the Iruslees either intend to liquidate the charilable company or lo cease operation5. or have no realistic allernalive bul lo do so. Audltor's rosponslbllltlg8 for tho audli of thg flnanclal statement• Our objeclives are lo obtain reasonable assufance about whelher the linancial slalernenls as a whole are free from material misslalemenl. whether due lo fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an au(Jil con(5ucled in accordanee with ISAS IUKI will always delecl a material misslalemenl when il exists. Missl8lemenls can arise from IraL*d or error and are considered material If. individually or in the aggregale, they could reasonably be expected lo influence the economic decisions of users taken on the basi5 01 these financial slalemenls. Details of the exlenl lo which Ihe audit was considered capatAe of detecting irregularities, including fraud and non- compliance with laws and regulations are sel out below. A further description of our responsibilities for the audit of Ihe financial slalemenls is Ioc81ed on the Financial Reporting Council's website al.. www.frc.or .uklaudiloTsres onsibililies. This description forms part ol our auditor's report. Extent to whlch the audlt was considered Capable of detecting Irregularities. including fraud Irregularities. including fraud, are instances of non