Company No. 13396877
Registered in England
Charity No. 1194790
St John's College School, Cambridge
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025

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 Reporting Responsibilities
Independent Auditor's Report
Statement of Financial Activities
3-11
12
13-15
16-17
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements
18
19-20
21-37

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
GOVERNORS, OFFICERS AND ADVISERS
YEAR ENDED 30 June 2025
GOVERNORS, DIRECTORS AND CHARITY TRUSTEES
The Governors of Sl John's College School I'the School'l are the School's charity Iruslees under charity law and the
directors of the charitable company. The start of the Governors, terms. as noted, is the dale they become directors of
the company, bul their term for compliance purposes is the dale al which they were appointed Governors of the school
in ils previous legal form. The members of the Governing Body who served in office as Governors during the year and
subsequently are detailed below..
Appointed
Started
{11 121 131
Lindsay Dodsworth Ichairl
13 September 2021
13 September 2021
PaLJI Taylor (Vice-chair and Chair
of Education & Welfare
Comrnilleel
i September 2017
14 May 2021
Patrick Blakesley
Gordon Cameron (Chair of
Finance & General Purposes
Comrllitteel
Jonathan Cumming
Darren Jordan (Chair of
Nominations Commilleel
'. Henry Price (Governor
responsible for Safeguardingl
Dipika Shah
September 2018
14 May 2021
16 August 2022
16 August 2022
16 August 2022
16 August 2022
16 August 2022
16 August 2022
2 December 2022
2 December 2022
16 August 2022
16 August 2022
'. Professor Tuomas Knowles
17June 2024
17June 2024
Stephen Taylor
1 17June 2024
17June 2024
Ale5sandro Loria Icompany
Secretarylclerk lo the Governors)
1 June 2024
1 June 2024
Finance & General Purposes Committee
121
Eduealion & Weware Commillee
131
Nominations Committee
The work of the Governing Body is supported by the above commillees. Each of the committees, which are not
decision-making bodies, have written terms of reference that detail their authority and duties.
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
GOVERNORS, OFFICERS AND ADVISERS (continued)
YEAR ENDED 30 JUNE 2025
Senior management team
Sarah Wright
Neil Chippinglon
Allhea Pipe
Alex Loria
Head Teacher (appointed 1S1 September 2025)
Head Teacher (resigned 315t August 2025)
Deputy Head and Head of Byron House
Director of Operations
Director of Studies
Tristan Igglesden
Jude Worthington
Lisa Bedfor
Depuly Head (Byron House)
Assistant Head Pastoral (Senior House)
Director of Finance (appointed 2nd June 2025)
Mark Lewis
Principal address and Registered Office
St. John's College School
73 Grange Road
Csmbridge C83 gAB
Solicitors
Ashtons Legal
Chequers House
77-81 Newmarket Rd
Cambridge CB5 8EU
Auditor
Crowe U.K. LLP
55 Ludgale Hill
London, EC4M 7JW
Bankers
Bar¢lays Bank plc
Benel Street Branch
P.0. Box 2
Cambridge, CB2 3PZ
Website
www.sjcs.co.uk
Page12

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
The members of Sl John's College School, Cambriijge's Governing Body present for the year ended 30 June 2025 their
Annual Report Ljnder the Charities Act 2011, incorporating the Directors, and Strategic Reports under the Companies
Act 2006, together with the audiled financial slalements of the School.
REFERENCE AND ADMINISTRATIVE INFORMATION
Sl John's College School traces ils roots lo the 17th Century when il was founded by Sl John's College for the education
of the Choristers of the College Choir. The Choristers continue lo be educated in a school of approximately 400 boys
and girls aged 4-13. Sl John's College School Cambridge moved lo ils present location in one of the most attractive
parts of Cambridge in 1955, and doubled in size upon amalgamation with the former Byron House School in 1973. 11 is
conslituled as 8 company limited by guarantee registered in England, No. 13396877 and was registered with the Charity
Commission under Charity No. 1194790 on 14 June 2021,
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing documents
The School is governed by ils Memorandum of Association and Articles of Associ81ion last amended on 14 May 2021.
Governing Body
The Governing Body is self-appoinling, and comprise5 no fewer than five and not more than 1 S members. Governors
hold office for 3 years, although any retiring governor who remains qualified may be re-appointed, provided that they do
not serve for more than three consecutive terms of office.
New members of the Governing Body are elected on the basis of nominations from the Governors based on the
candidates, professional qualities, experience, personal competence and local availability.
Recruitment and tratning of Governors
Governors are recruited through an independent process led by the Nominations Commillee with the objective of
creating a Board with diversity of knowledge and experience among the Governors. New Governors are inducted into
the workings of the School. including Governing Body policy and procedures, by the Head and Director of Operations.
The new Governors undertake training on the role and responsibilities of charity trustees.
Members of the Governing Body allend external Iruslee training and information courses designed lo 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, are legally responsible for the overall management and
conlfol of the School. They meet three limes a year.
The Governing Body has established three committees, the Education & Welfare Committee, the Finance & General
Purposes Committee and the Nominations Committee. All the committees have wrillen terms of reference which detail
their authority and duties.
The Finance & General Purposes Committee lakes delegated responsibility on behalf of the Governing Body to Provide
overview and scrutiny of the work of the Executive in the areas of Finance, Operations, Facilities and Health and Safely.
This includes acting as a sounding board for new initiatives and the on-going monitoring and review of policies and
practice in Ihese areas, and making recommendations as appropriate lo the Governors, This commillee also supervises
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
and finalises the audited financial slalemenls and annual report for approval by the Governing Body. The Finance &
General Purposes Committee is chaired by Gordon Cameron.
The Education & Welfare Committee lakes delegated responsibility on behalf of the Governing Body to proviiie overview
and scrutiny of the work of the Executive in the areas of EdLJcalion (academic, co-curricular and pastorall and Welfare
{Including Safeguardingl. This committee Is chsired by Paul Taylor.
The Nominations Committee lakes delegated responsibility on behalf of the Governing Body lo recruit new Governors
and ensure the Governing Body is composed of suitably qualrfied and experienced individuals. This committee makes
recommendation as appropriate lo Ihe Governing Body 2nd Is chaired by Darren Jordan.
The day-lo-day running of the School is delegated to the Head who is supported by the Senior Management Team and
together this group make up the key management personnel Isee page 21. The Head allends all meetings of the
Governing Body's Committees, as does the Chair of Governors. The new Head was appointed with effect from 1st
September 2025.
Remuneration for the Head is sel by the Governin9 Body, as well as the yearly salary review for all staff. The policy
objective is lo provide appropriate incentives lo encourage enhanced performance and reward fairly and responsibly
Individual contributions lo the School's success.
The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons
with other independent schoo5s, lo ensure that the School remains sensitive lo the broader issues of pay and
employment conditions elsewhere.
Delivery of the School's charitable vision and purpose is primarily dependent on ils key management personnel and
slaff costs sre the largest single element of ils charitable expenditure.
Group structure and relationships
SJCS International Limited I'SJCSI l is a wholly-owned subsidiary of, and is controlled by, the School. It was sel up by
St John's College in 2017 as a company limited by shares and transferred to Sl John's College School in 2021. The
primary purpose of SJCSI is lo licence the intellectual property of the School lo a partner in China in return for a fee with
the aim of setting up nurseries overseas in the School's name. The annual taxable profits of SJCSI are donated lo the
School under the Gift Aid scheme. The results of SJCSI are not consolidated into Ihese financial slalemenls as the
School is itself a subsidiary of a larger group, Si John's College. The results of SJCSI are therefore consolidaled into
the results of St John's College as ultimate parent of the Group.
St John's College
On 10 Septefflber 2021, the activities of the School were transferred from Sl John's College into a company limited by
guarantee, Sl John's College School, Cambridge which is a separately registered charity. The Co15ege is Ihe sole
mernber of the Company and the School Governors are the directors and the charity Iruslees. The nel assets of the
School, including restricted and endowment funds with restricted purposes for the School, were also Irarisferred lo the
School on 10 Seplember 2021. The results of the School are consolidated within the Group f1nancial slalemenls of the
College.
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
Charitable Objects
The School's Object, as sel out in the Articles of Association, is to promote and provide for the advancement of education
of pupils ol any age. In furtherance of this Object for the public benefit the School has established and administers
bursaries and engages in partnership and outreach aclivilies.
Aims and Ethos
The School is a caring community that aims lo provide an oulslanding education lo boys and girls aged 4 -13. 11 aims lo
foster the aptitude5 and nurture the growth of each child lo enable them lo become their best selves in the fullest sense.
Respect for children, faith in children and an ability to see the world through their eyes informs ils leaching and ils care.
Pastoral Care and Wellbeing
The School believes that emotional and social wellbeing. self-awareness and confidence are inextricably linked with
academic progress.
Creativity
The School encourages children lo become independent. creative learners and critical thinkers, equipped with the skills
to collaborate, problem-solve, self-reflect and adapt.
Academic Excellence
The School aims lo offer ari oulslanding education through a rich and broad curriculum which enables children lo reach
the highest levels of attainment supported by the very best quality of leaching, premises and resources.
Comrnunity
The School encourages children lo have a geneiosily of spirit and compassion in a global society and lo embody the
Values of love, honesty, kindness, respect, service and trust in their community and beyond.
Intended impact
Within ils charitable Objects, the School's intention is lo provide a firsl-class holistic education through a focus on
nurturing children and their wellbeing alongside strong academic luilion. This Includes developing broader skills that
enable every pupil lo realise his or her potential lo the full. This involves emphasis on the co-curriculum through cerebral,
sporting, artistic. team building and social skills. This policy builds self-confidence and life skills in ils pupils and
inculcates a desire lo learn and a willingness lo contribute to the wider community whilst al school and in later lrfe.
Strategic Report
The School's principal object, as specified in the Articles of Association, is the advancement of education and. in this
respect, the School has had a successful year. The School averaged 408 pupils of whom 392 were day pupils.
Aims
The School's aims are..
lo establish the school as a predominantly day school, working lo routines based on some boarding principles,
in which there are strong and active partnerships between parents, the local community and Sl John's College,
whose choristers the School educates.,
lo offer all pupils a range of opportunities and a broad curriculum so that they can achieve lo the best of their
ability within a framework of shared values and standards., and
lo value and nurture pupils as individuals, giving them a sense of their own self-worth and of the value of service
lo others, thus preparin9 them for life beyond school.
Primary objectives
The primary objectives of the School lo fu￿11 these aims are..
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
lo provide a happy, secure and nurturing environment in which pupils can learn lo be their best selves and to
live together and thus foster a sense of community, co-education, respect for one other and good citizenship",
to provide a slimulaling learning environment in which pupils can develop their academic potential lo the full.,
lo provide pupils with the opportunity lo lake advanl3ge of a breadth of co-curricular activities in order lo develop
positively all aspects of their character,.
lo provide pupils with the opportunity lo lake decisions based on their own judgmenl and lo communicate those
decisions appropriately and effectively., and
lo provide financial 5UPPOrt lo enable children whose parents are unable lo afford the full fees to benefit from
the School s education.
Strategies to support the achievement of the primary objectives
The School's primary focus will continue to be on leaching and learning and pastoral care. The strategic priorities and
activities undertaken lo deliver the objectives agreed in the Vision 2026 strategy, are set out below.
Marketing.. a focus on marketing is required lo increase awareness of the School in an increasingly competitive market
and lo give the School greater control over pupil numbers by reéucing as much uncertainly as possible in the admissions
process and increasing enquiries. During the year, the School developed a new marketing strategy in the light of the
potential impact on pupil numbers resulting from the introduction of VAT on fees. Through various inilialives, the School
aims lo promote the School's slrenglh5 and allracliveness lo a wider audience of both prospective and existing parents.
Bursaries.. Governors are commilled lo improving accessibility lo the School's leaching and learning throLJgh an
endowment lo finance bursaries in the future. This endowment 15 to be buill IhroLJgh fundraising. The appointment of a
Director of Development In September 2024 has led lo a launch of 8 significant campaign lo raise money for the Bursary
Endowment Fund. This aims lo improve accessibility lo a Sl John's College School education for those who would not
be able lo afford il without financial assistance.
Diversity, Inclusion and Equity.. The School is commilled lo being as diverse, inclusive and equitable as possible in
all il underlaken and has continued lo work on embedding a cullure of diversity, inclusion and equity in all aspects of
school life with the support of Equalileach.
Envlronmental sustainability.. The School is committed lo being as envifonmenlally sustainable as possible. During
the year, the School commissioned an Energy Infraslruclure Upgrade and Decarbonisalion Report, the results of which
will be consideied as part of the School's future Inveslmenl in the eslale and facilities.
Partnership and outreach.. The School Is already commilled lo partnership arid outreach work which it wishes lo
expand, particularly in the local community. Work has continued with local schools, in particular in the areas of drama
and the School's Emotions for Learning programme. This has continued the School's aim to be Involved in ils local
community.
Facilities. The School wishes to ensure that the faci111ies remain at the level required to help deliver a high standard of
education. The focus during the year was on opportunities for improved environmental suslainabilily as well as the
needs of pupils in a rapidly changing leaching and learning environrllenl.
Relationship with St John's College. the good relationship with St John's College is fundamental lo the School
succeeding and achieving Ils aims and objectives and the School is proud lo educate and look after the College
choristers and support them in the parl Ihey play in one of the leading choirs In the world.
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
Public benefit
The Governors are mindful of the long-standing need lo provide public benefit and of the requirements of the Charities
Act 2011. In setting the School aims and objectives and planning the School's aclivilies, the Governors have considered
the Charity Commission's guidance on public benefit.
The School actively supports the allainment of the highest standards of education through rigorous and continuous
evaluation of quality and performance. the application of best practice and a widespread desire lo improve standards.
The School cooperates with local charities and educational bodies in ils ongoing endeavours lo widen public access lo
the schooling il provides, lo oplimise the use of its cultural and sporting facilities and lo awaken in ils pupils an awareness
of the socia1 context of the all-round education they receive al the School.
The School remains commilled lo the aim of providing public benefit in accordance with ils founding principles. Charity
legislation includes a requirement lo demonslrale Ihal public benefit for any charitable purpose where il had hitherto
been presumed in the absence of evidence lo the contrary. This calls in turn for commensurate disclosure of ils pub5ic
benefit aims.
The awarding of bursaries for those that might otherwise not be able lo attend the School, or where families might need
lo withdraw their children from the School, for financial reasons is a measurable means of providing public benefit. The
Governors lake the view that bursaries awarded lo those who would not otherwise be able lo afford the fees are
important, but not lo the exclusion of the much wider benefit that the School provides within the community. Those pupils
who attend the school and who receive financial support Contribute lo the school community in a variety of ways, and
so the benefit is not purely lo these PLJpils bul lo Ihe whole School and, in sorne cases, lo the wider community. This
year 38 pupils131 in 20241 were awarded bursaries and scholarships lolalling £813k {£622k in 2024}. Within this, means-
tested awards based on financial circumstances loialling £264k 1£162k in 20241 were awarded by the School lo 18
PLJpils {11 in 20241, including two for full fees13 in 20241.
In addition lo bursaries, the School has engaged In many other activities that provide benefit lo the public within the
School's obiectives..
Emotions for Learnlng (E4LI Outreach.. Emotions For Learning IE4LI training was undertaken 81 Melbourn Primary
School and Pelersfield Primary school and children al Melbourn Primary School were laught Mindfulness.
Computing Outreach: In June 2025, the School ran Microbil workshops for 3 local schools. This provides CPD for the
le8cher and extension for gifted programmers. Further afield, the School supports the Teach the Teacher Programme,
a Rotary funded project lo bring cloud-based school leaching, teacher Iraining and adull education lo The Gambia.
Drama Outreach.. Outreach work included assisting Barringlon Primary School in the performance of A Midsummer
Nighl's Dream and supporting Gislingham Primary School with their performance of Twelfth Night al the Apex Theatre
in Bury Sl Edmunds as part of the Shakespeare Schools, Festival.
Outreach Piano Concerts= This regular serie5 goes from strength to strength and offers a rewarding opportunity lo
local young musicians who do not have access lo a regular performance plattorm of such quality.
Senior Citizens- The School continues ils links with local care homes and the residents joins the school for lea and
enlertainmenl every Christmas and summer term.
Governorships.. Four members of staff are governors of local slate primary schools.
ACHIEVEMENTS AND PERFORMANCE
School performance
The School's Year 8 leavers achieved some of the best academic standards in recent years and passed competitive
exams lo enter senior schools of their choice. 39 pupils achieved places al independent day schools in Cambridge, 13
al other Independent schools, including a number of boarding schools, and 1 to a local slate secondary school.
30 awards were won by pupils including 8 academic awards, 7 sport awards. 6 music awards, 5 drama awards, 2 art
awards, 1 design and technology award and 1 dance award.
Other highlights included..
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
10 pupils were successful in the National Poetry Competition, 'Wonderverse'. The competition was for children
to write about their awe and wonder al the mysteries of our world and universe.
Many pupils won certificates in Maths Challenges. including 16 Gold Certificates in the Junior Maths Challenge
with 11 pupils qualifying for the r)exl round and 2 qualifying for the Junior Olympiad. A Year 8 malhemalician
qualified for the prestigious 'Grey Kangaroo, round of the Inlermediale Nqalhs Challenge.
2 teams qualified for the National Prep-school Science Quiz semi-final.
Four Year 6 girls secured second place in the Rotary Cambridge Coding Competition 2025.
A Year 7 pupil was commended in the Anlhea Bell Prize for young Iranslalors.
A Year 8 pupil won the Young Brush Art Prize in the International Youth Drawing Competition.
Sport
The School continued lo focus on making sport Inclusive. Many teams involving older pupils entered local and n31ional
competitions. Notable successes were the U11 Girls, team who came second in the Cambridge United Football
Tournament and U11 Boys, football team who were runners up in the EFL Kids Cup organised by the Cambrid9e United
Foundation and the U125 and UIOS rugby teams who had an unbeaten season.
There were individual successes for pupils in alhlelics and show-jumping. A Year 6 pupil was crowned kart-racing
champion in the Micro Max class al the Rolax Wodd Championship.
Music
The girls and boys of the Sl John's College Choir continue lo excel and the Choir is regarded as one of the be51 in the
world. As well as the round of services and concerts held in Si John's College Chapel within the Cambridge University
term, the choir toured Europe in December and the USA in April. The Choir has also continued ils collaboration with the
Gesualdo Six.
In the School, about 60 concerts took place over the course of the year as well as carol services and class concerts and
pupils continue lo achieve excellent results in music exams including al ABRSM Grade 8 level. One pupil gained a
distinction in a piano diploma award.
As well as the 20 choristers of St John's College, 3 pupils sing in Jesus College Choir Icarnbridgel, and 2 in the St
Calharine's College Girls, Choir Icambridgel.
Drama
Every year group iri the School performs a play each year. Highlights included Reception and Year 1 Nativity plays,
Year 6's production of 'Fanlasli¢ Mr Fox" Year 7's production of °The Wiz8rd of Oz. Year 8's performance of the
School's annual 'P8ssion Play and a 'Shakespeare Evening, which included a cameo appearsnce from a pupil's pony.
Art and DT
Arl and Design and Technology continue lo produce high standards as curriculum and co-curricular opportunities within
Ihe life of the School.
FINANCIAL REVIEW
Results for the year
The nel movement in funds In the year was a deficit of1£803kl1£344k surplus in 20241. The nel income from charitable
activities In the year was a deficit of1£803kl1£344k surplus in 20241.
Tolal income was £9.Om 1£9.3m in 20241 with the reduction primarily due lo reduced pupil numbers driven by the
imposilion of VAT on fees, partly offset by an increase in ancillary trading income of £542k1£506k in 20241.
Total expenditure was £9.8m1£9.1 m In 20241 due to increased leaching costs lincluding inflalionsry pay increases and
redundancy payments}, premises repair and mainten2nce, and increases in bursary expenditure.
Endowed funds
The school's endowmenl con51sls of numerous Individual gifts. legacies and grants given lo the school over many years
for specific purposes. A distinguishing feature of these funds is the donor's express Tequiremenl or implicit intention that
Page18

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
the funds shall not be spent immediately but should be retained for the medium or long term. Where the retention of
capital is explicitly indicated and there is no power lo expend capital, the capital is shown as permanent endowment.
Other funds received can only be spent for specific purposes. In both cases income arising is shown as reslricled funds,
lo be used only for the purpose specified by the donor. During the year, these funds were initially invested in the Sl
John's College consolidated Trust Fund, which is a pooled portfolio of stocks and shares. and cash, controlled and
managed by the College.. In August 2024. the College transferred the funds lo the School, and the funds are now
managed by a professional fund manager, CCLA, on the School's bettalf in accordance with the School's Investment
Policy.
Reserves policy and financial viability
The Governors recognise the need for prudent management of the School's finances and lo build reserves over lime.
The School's policy is lo build reserve5 to a prudenl level, considering the need lo maintain the School sile and fund
future capital expenditure, all the while retaining sufficient unrestricted income reserves lo enable the School to continue
lo meet ils short-term financial obligations in the event of an unexpected revenue shortfall.
As at the end of June 2025, the lolal funds of the School were £6.5m which comprised Endowed funds of £1.2m,
Restricted funds of £0.1 m and Unrestricted funds of £5.3m. The Unreslricled funds comprised designated funds.
including fixed assets of £7.1 m, offset by a General Reserve deficit of1£1.9ml. The defi¢il in General Reserves has
increased by £0.5m since 30 June 2024,. 11 is the Governing Body s intention lo reduce the General Reserves deficit
over lime.
The School continues lo remain in a healthy financial position, with £2.Om of cash and cash equivalents al 30 June 2025
1£2.5m in 20241, although this does flucluale during the year. The reduction in cash balance in the year was principally
ue lo adverse working capital movements. There is close monitoring of cash and the working capital position against
cash flow forecasts. After the year end, on 1 St JLJ1y 2025, the School drew down £1 m from the Reverse Premium facilily
under ils lease with the College. Under the terms of the facility, the School pays additional annual rental payments of
30/0 of the amount drawn down over the remainder of the lease period. Following the review of forecasts covering the
period lo December 2026, which considered scenario planning around future pupil numbers, rising employment costs
and other inflationary increases, alongside further funding available under the Reverse Premium facility, the Governors
are satisfied that the School has sufficient working capital lo meet its commitments as they fall due and thal there are
no materi21 uncertainties surrounding ils ability to continue as a going concern.
PRINCIPAL RISKS AND UNCERTAINTIES
The major risks lo which the School might be exposed are regular5y considered by the Senior Managemenl Team and
the Governing Body through review of the risk register. Where appropriate, sleps are taken lo mitigate identified risks
and, rf appropriate, lo Insure againsl the potential financial irllpacl of the residual risks. The Governors consider that the
necessary steps have been taken and continue lo be taken lo idenlrfy and miligale major risks.
The principal risks that the School faces are..
The impact of future changes lo existing charilable exemptions leading lo unaffordabilily for parents and reduction
in pupil numbers. Strategic planning and modelling of scenarios has been ijndertaken to Mil￿gate as far as possible.
Cost conlrols and consideration of allernalive forms of funding are part of mitlgalion.
The impact of demographic and societal changes such as the reduction in the birth rale leading to fewer pupils
applying for places in the younger year groups. The School undertakes regular analysis of admissions data and
local demographics. Investment in marketing is a strategic objective lo miligale against falling pupil roll.
The impact of a loss of infrastructure, whether that be access lo buildings le.g. firel or a loss of IT systems, including
by a cyber-allack. School buildings are maintained in good condition and with appropriate insurance in place. IT
syslerns are monitored on a regular basis. The School has a Crisis Management Plan which is regularly reviewed.
The irnpacl of natura5 disasters such as another pandemic leading lo business interruption and reduction of pupil
nuTnbers. Strategic planning and scenario planning including lessons learned from the Covid-19 pandemic allempt
to rniligale risk of another such disaster.
Detailed consideration of risk is delegated lo the Finance & General Purposes Committee, which reports formally lo the
Governing Body. The structure of the Committee comprises al least three members of the Governing Body, assisted by
Senior Management. The risk managemerTrl process and the resulting Report identifies risks, assesses their impact and
likelihood and, where necessary, recommends controls to miligale and monitor those risks that are assessed as high.
The generic controls used by the School to minimise risk include..
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ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
detailed terms of reference together with formal agendas for Committee and Governing Body aclivily.,
slralegic development planning reviewed by the Governing Body, including during an annual strategy day,.
comprehensive budgeting and management accounting",
established organisalional structures and lines of reporting.,
formal wrillen policies including clear aulhorisalion and approval levels which are reviewed", and
vetting procedures as required by law for the protection of the vulnerable.
The Governors regularly review the effectiveness of Current plans and strategies for managing all idenlified major risks
for both the School and Ils subsidiary.
FUTURE PLANS
The School's current Strategic Plan was agreed by the Governors in June 2022 and is subject to annual review. With
the appointment of a new Head In Seplember 2025, a new Strategic Plan will be developed during the 2025 - 2026
academic year.
The main slrategic areas of focus for the 2025 - 2026 academic year, alongside continuing lo slrenglhen the school's
pastoral care and teaching and learning, will be a continued focus on marketing initiatives lo increase Interest in the
School and Increase the pupil roll," further investment in the maintenance and development of the School sites., and
fundraising for an endowment for bursaries.
Fundraising
During the year ended 30 June 2025, the school has not undertaken any fundraising activity requiring disc105ures lo be
made under the Charities (Protection and Social Inveslmenll Act 2016.
Page | 10

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
ANNUAL REPORT OF THE GOVERNORS
YEAR ENDED 30 JUNE 2025
STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES
The members of the Governing Body (who are a150 the directors of Sl John's College School. Cambridge for the
purposes of company lawl are responsible for preparin9 the Annual Report and the financial slalemenls with applicable
law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Slandard5}.
Company law requires the Governing Body lo prepare financial statements 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.
Company law requires the members of the Governing Body lo prepare financial 51alements for each financial year.
Under company law the Governing Body members must not approve the financial statements unless they are satisfied
that Ihey give a true and fair view of the slate of affairs of the charitable company and the group and of the incoming
resources and application of resources, including the income and expenditure, of the charitable group for that year. In
preparing these financial slalemenls, the Governing Body members are required lo..
select the most appropriate accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP.,
make judgments and accounting eslimales that are reasonable and prudent,.
slate whether applicable Accounting Standards have been followed, subject lo any material departures
disclosed and explained in the financial slatemenls., and
prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the
charitable company will continue in business.
The members of the Governing Body are responsible for keeping adequate accounting records that are sufficient lo
show and explain the charitable company's transactions, disclose with reasonable accuracy al 3ny time the financial
position of the charitable company and enable them lo ensure that the financial slalemenls comply with the Companies
Act 2006 and the provisions of the charity's conslilution. They are also responsible for safeguarding the assets of the
charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other
irregtjlarilies.
Relevant audit information
Insofar a5 each of the Governors, as directors of the charitable company, al the dale of approval of this report is aware
there is no relevant audit Information linformalion needed by the company's auditor in connection with preparing the
audit reportl of which the company s auditor is unaware. Each member of the Governing Body has taken all the steps
that he or she should have tsken as a member of the Governing Body in order lo make himself or herself aware of the
relevant audit information and lo establish that the company s auditor is aware of Ihal information.
This Annual Report, including the Strategic Report, was approved by the Governing Body of the School on 28th
November 2025 including, In Iheif capacity a5 cornpany directors, approving the Governors, Report and signed on 115
behalf by..
Lindsay D
Chair of Goverriing Body
rth
Page111

## **OPINION** 

We have audited the financial statements of St John’s College School, Cambridge (‘the charitable company’) for the year ended 30 June 2025 which comprise the Statement of Financial Activities, Charity Balance Sheet, Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 30 June 2025 and of the charitable company’s income 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. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 relating to going concern** 

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

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

Our responsibilities and the responsibilities of the 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 contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

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

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

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

- the directors’ report included within the trustees’ report have been prepared in accordance with 

Page  12 



applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. 

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

- adequate and proper accounting records have not been kept; or 

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

- certain 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 trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

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

## **Auditor’s responsibilities for the audit of the financial statements** 

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

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below. 

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

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. 

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may 

Page 13 



exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014. 

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

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing and recognition of non-fee income, procurement processes for significant capital projects and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance and General Purposes Subcommittee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations. 

## **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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


Nicola May Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London 

Date: 10 December 2025 

Page 14 



ST JOHN'S COLLEGE SCHOOL. CAMBRIDGE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2025
Unrestricted Reslricled
funcss
funds
2025
2025
£'ooD
£'ooo
Endowed
Funds
2025
£'ooo
Total
Funds
2025
£'ooo
Total
Funds
2024
£'ooo
Notes
ncome and endowments from:
Charitable activities
School fees receivable
Ancillary trading income
Other trading activities
Non-ancillary trading income
Investments
Investment income
Voluntary sources
Donations 2nd legacies
8,203
542
8,203
542
8,S02
506
52
52
115
115
134
92
92
102
Total income and endowments
8,912
92
9,004
9.287
Expenditure on..
Raising funds
Non-ancillary trading
Other income-generating activities
Financing costs
Investment management
23
168
23
168
38
167
Total Expenditure on raising Funds
198
198
220
Charitable activities
Education aNd grant making
9,328
282
9,611
8,883
Total expenditure
9,526
282
9,809
9,103
Net Ideficil} l income from operations
16151
11901
{8051
184
Gains on investment
10
160
Nel Ideficill l income for the year
(6151
11901
18031
344
Transfers between funds
15
208
12081
Nel moverment in funds in the year
1615}
18
{2061
1803)
Page | 15

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2025 {continued}
Notes Unrestricted Reslricled
funds
funds
2025
2025
Endowed
funds
2025
Total
funds
2025
Total
funds
2024
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Net movement in funds in the year
16161
19
12061
18031
Fund balances brought forward as al
1 July 2024
5,884
64
1,389
7.337
6,993
Fund balances carried forward as
at 30 June 2025
5,268
83
1,183
6,534
7.337
Page | 16

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
BALANCE SHEET
AS AT 30 JUNE 2025
Company number 13396877
Notes
2025
£'ooo
2024
£'ooo
FIXED ASSETS
Tangible assets
Investments
7,071
1,183
7,170
1,376
10
8,254
8,546
CURRENT ASSETS
Debtors
Cash and deposits
499
2,031
2,530
992
2,491
3,483
CURRENT LIABILITIES
Creditors payable within one year
12
1.549
1.789
NET CURRENT ASSETS
981
1.694
TOTAL ASSETS LESS CURRENT LIABILITIES
9,235
10.240
LONG-TERM LIABILITIES
Creditors payable after one year
13
2,702
2.903
NET ASSETS
6,533
7,337
REPRESENTED BY..
ENDOWED FUNDS
RESTRICTED FUNDS
UNRESTRICTED FUNDS
Designated Reserve
General Reserve
15
15
1,183
83
1,388
65
15
15
7,131
11,8641
7.220
11.3361
6,533
7,337
These financial slalements were approved and aulhorised for issue by the Governing Body on 281h November 2025
and were signed on its behalf by..
Lindsay Dod
Chair of the G
ning Body
The notes on pages 2110 37 form part of these financial slalemenls
or
Pagel 17

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
STATEMENT OF CASH FLOW
FOR THE YEAR ENDED 30 JUNE 2025
Notes
2025
£'ooo
2024
£'ooo
Net cash outflow from operations
Nel cash provided by operating activities
11681
614
Cash flows from Investing activities:
Payments for tangible fixed assets
Payments for acquisition of inveslrnenls
Withdrawals from securities investments portfolio
Investment income and bank interest received
{2421
113}
208
115
11101
1241
212
135
Net cash provided by investing activitlgs
213
Cash flows from financing activities..
New endowment
Repayment of borrowing
Finance cos15 paid
11921
168
11731
167
Net cash provided by financing activities
1360)
{3271
Change in cash and cash equivalents in the year
{4601
500
Cash and cash equivalenls at the beginning of period
2,491
1.991
Cash and cash equivalents at the end of the year
2,031
2,491
Page | 18

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Reconciliation of net income to net Cash flow from operating activities
2025
2024
£'ooo
£'ooo
Net (Deficit) I Income from operations
18051
184
Elimination of non-operaling cash flows..
Investment income
Endowment donations
Fin2nce cost5
Investment management charges
Depreciation charge
Decreaselllncreasel in debtors
Increaselldecreasel in creditors (excluding deposit)
IDecreaselllncrease in fees in advance creditor
Increase in parents, deposits
Net cash loutflowllinflow from operations
11151
(1351
113)
167
168
340
493
381
{6541
{781
737
1723)
11681
614
Analysis of cash and cash equivalents
2025
£'ooo
2024
£'ooo
Pelly Cash
Cash al bank
Deposits
19
811
1,201
2,031
15
797
1,679
2.491
Analysis of net debt
30 June
2024
£'ooo
Cashflows
2025
£'ooo
30 June
2025
£'ooo
Cash al bank
Loans
Nel debt
2,491
{3,0951
16041
14601
192
12681
2,031
{2,903)
1872)
Page | 19

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
CHARITY INFORMATION
The School is a charitable Company limited by guarantee Icharily number 1194790, company number
133968771 and was incorporated in England on 14 May 2021 to facilitate the transfer of School assets from Sl
John's College lullimale parent) lo a separate legal enlily. 11 is a Public Benefit Enlily operating from ils
registered office al 75 Grange Road, Cambridge CB3 9AA.
ACCOUNTING POLICIES
Financial statements and con$olidation
The financial statements cover the year from 1 July 2024 to 30 June 2025, comparative information is presented
for the period 1 July 2023 10 30 June 2024.
The financial slalemenls have been prepaTed on the historical cost basis of accounting, as modified by the
revaluation of Investment properties and other inveslmenls. and in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS1021, the Companies Act 2006, the Charities SORP
IFRS 1021 and the accounting policies sel out below.
Having reviewed the funding facilities available to the School together with the expected ongoing demand for
places and the School's future projected cash flows, the Governors have a reasonable expectation that the
School has adequate resources lo continue ils activities for the foreseeable future and consider that there were
no material uncertainties over the School's financial viability. Accordingly, they also continue lo adopt the going
concern basis in preparing the financial slalemenls as outlined in the Slalernenl of Accounting and Reporting
Responsibilities on page 11.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the accounting policies, the Trustees are required lo make judgements, eslimales, and
8ssumptlDns about the Carrying value of assets and liabilities that are not readily apparent from other sources.
The estimates and underlying 3ssumplions are based on historical experience and other factors that are
considered lo be relevant. Actual results may differ from these e51im8les.
The estimates and undeTlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
eslimales 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 affected current and future periods
In the view of the Governors, no assumptions concerning the future or eslimalion uncertainly affecting assets
or liabilities at the balance sheet dale are likely lo result in a material adjuslmenl lo their carrying amounts in
the next financial year.
The following accounting policies have been applied consislenlly in dealing with items which are considered
material in relation lo the School's financial slatemenls.
School fees and similar earned income
Fees receivable and charges for services and use of the premises, less any allowances, scholarships, bursaries
granted by the School against those fees, bul including contributions received from reslricled funds, are
accounted for in the period In which the services are provided.
Investment income
Dividend income is accounted for al the dale on which the School has enlillemenl to the dividends. Interest on
bank balances and fixed interest securities is accounted for in the period in which the interest is earned.
Donations, legacies, grants and other voluntary income
Voluntary income is accounted for as and when enlillemenl arises, the amount can be reliably quantified and
the economic benefit to the School is considered probable.
Voluntary income for the College's general purposes is accounted for as unreslricled and is credited lo the
General Reserve. Where through the terms of an appeal or from the donor there is a trust law restriction on the
use of any voluntary income, the income is credited lo the relevant reslricled funds or endowment. Grfls in kind
Page | 20

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
are valued at eslimaled open market value al the dale of grft, in the case of assels for retention or consumption,
or al the value lo the College in the case of donated services or facilities.
Expenditure
Expenditure is accrued as soon as a liability is considered probable. Expenditure atlribulable lo more than one
cost category in the Statement of Financial Activities is apportioned to them on the basis of the estimated amount
allfibutsble lo each activity in the year, either by reference lo staff time or the use made of the underlying assets,
as appropriate. Irrecoverable VAT is included with the item of expenditure lo which il relates.
Investments
Listed and a11ernalive investments are reported al the value reported by CCLA at the balance sheet dale. For
all listed and olher investments where there is an active market the investments are valued al their quoted
market prices. Allernalive investments where there is no active market are valued based on the nel asset values
of the underlying assets published by the fund managers al the balance sheet dale or. where necessary, al the
nearest available valuation dale.
Gains and losses arising on the revaluation of investments are credited or charged to the Slalemenl of Financial
Activities and are allocated lo the appropriate Fund according lo the'ownership. of the underlying assets.
Investments in subsidiaries are valued al cost less provision for impairment.
Tangible fixgd assets
Expenditure on the 8cquisilion, construction or enhancement of land 2nd buildings costing more than £5,000
together with expenditure on vehicles, furniture, machinery, ICT infraslruclure and other equipment costing more
than £5.000 is capilalised and carried in the balance sheet al historical cost.
Other expenditure on equipment incurred in the normal day-lo-day running of the College and ils subsidiaries
is charged lo the Statement of Financial Activities as incurred.
Depreciation
Depreciation Is provided lo write off the cost of all relevant tangible fixed assets less Iheir estimated residual
values based on current market prices in equal annual inslalmenls over their expected useful econornic lives
as follows..
Leasehold building improvements
Computer equipment
Other equipment
50 years
3 years
6 years
2.10 Fund accounling
The charitable trust funds of the School are accounted for as unreslricled or restricted income. or as endowment
capital, In accordance with the terms of trust imposed by the donors or any appeal lo which they may have
responded. Endowmenl funds are further sub-divided into permanent and expendable.
Unrestricted income belongs to the School's corporate reseNes, spendable al the discretion of the Governors
either lo further the School's Objects or lo benefit the School itself. Where the Governors decide lo sel aside
any part of these funds lo be used in future for some specific purpose, this is accounted for by transfer lo the
appropriate designaleé fund.
Restricted income comprises gifts, legacies, grants or income from certain endowments as below where there
is no capital retention obligation or power bul only a trust law reslriclion lo some specific purpose intended by
the donor.
Permanent endowment fepresenls specific gifts and donations that have been received over lime and rnusl
be maintained as part of the endowment of the School. The income arising on all capital funds has been
recorded in the Consolidated Statement of Financial Activities.
Page | 21

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
Expendable endowment 8rises where a donor intends the gift lo be retained but with the addilional condition
that all capital can be converted into Income for spending either al the Governors, own discretion or else upon
the happening ol some event contemplated by the donor.
2.11
Operating leases
Rentals under operating leases are charged on a slr8ighl-line basis over the lease term, even if the payments
are not made on such a basis. Benefits received and receivable as an incentive lo sign an operaling1ease are
similarly spread on a slraighl-line basis over the lease term.
2.12
Financial instruments
Basic financial inslrurnenls are initially recognised al Iransaclion value and subsequently measured al amortised
cost. Financial assets held al amort15ed cost comprise cash al bank and in hand, together with trade and olher
debtors. A specific provision is made for éebls for which recoverability is in doubl. Cash al bank and in hand
is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held
al amortised cost comprise all creditors except social security and other taxes and deferred income and
provisions. Assets and liabilities held in foreign currency are translated lo GBP al the balance sheet dale al an
appropriate year-end exchange rate.
2.13 Pension Costs
The School makes payments lo def1ned contribution pension schemes for the benefil ol employees.
Contributions payable are charged to the Slalement of Financial Activities In the year lo which they relate.
CHARITABLE ACTIVITIES- FEES RECEIVABLE
2025
£'ooo
2024
£'ooo
Fee5 receivable consist of:
School fees
Less.. lolal scholarships and bursaries
8,808
813
8,911
622
7,995
208
8,289
213
Add back.. Bursaries and other awards paid by reslricled funds
8,203
8,502
Scholarships and bursaries of £813k 1£622k in 20241 were awarded. £549k 1£424k in 20241 was paid as
scholarships lo 20120 in 20241 choristers and £264k1£162k in 20241 was paid lo 18111 In 20241 pupils as
means-lesled bursaries.
Pa9e | 22

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
CHARITABLE ACTIVITIES- OTHER INCOME
2025
£'ooo
2024
£'ooo
Day Boarding and Temporary Boarding
Leavers. Programme
Sports Coaching
Late Wailing charge
School Bus
Pupils trip Funds
Stringmoves, Music lessons and instrument charges
Other
Regislralion Fees
20
57
14
28
19
303
60
36
29
55
18
77
199
56
50
542
506
OTHER TRADING ACTIVITIES
2025
£'ooo
2024
£'ooo
Trading income
Lellings
52
43
INVESTMENT INCOME
Total
2025
£'ooo
Total
2024
£'ooo
Securities investment income..
Income from investments in Sl John's college consolidated Trust Fund
Income from inveslmenls in CCLA funds
Bank and other interest
23
115
115
134
Page | 23

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
ANALYSIS OF EXPENDITURE
(a
Total expenditure
Staff costs Depreciation
Inole 8}
Inole 91
£'ooo
£'ooo
Other
Total
2025
£'ooo
Total
2024
£'ooo
£'ooo
Expenditure on raising funds
Trading costs
Cost of other activities
Financing Costs
Inve51fftenl and eslales
management
23
168
23
168
38
167
Total Expenditure on raising funds
195
198
220
Charitable expenditure
Education and grant making
Teaching
Welfare
Premises repair and maintenance
Support Costs and governance
EHCP cosl
Grants, awards and prizes Inole
4,377
167
176
938
76
90
787
37
1,233
859
5,254
208
1,552
1,899
76
622
4,954
187
1,461
1.769
60
452
143
102
622
71bll
Total charitable expenditure
5,734
339
3,538
9.611
8,883
Total expended
5,736
340
3,733
9,809
9,103
Ib)
Grants, awards and prizes
2025
£'ooo
2024
£'ooo
From Reslricted Funds..
Bursaries
Prizes and leaving awards
From Unrestricted Funds-
Other grants and awards
208
212
413
240
622
452
Page | 24

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 {continuedl
Governancg included in support costs..
2025
£'ooo
2024
£'ooo
Remuneration paid lo auditor for audit services
Reimbursement of personal expenses lo Governors - travel costs
26
26
29
27
Travel expenses of £1 k were reclaimed by 4 members of the Governing Body. No other remuneration was paid
lo members of the Governing Body in the year.
In addition lo the above audit remuneralion, the auditor received fees for the audit of SJCS International Limiled
lolalling £3,171
STAFF COSTS
2025
£'ooo
2024
£'ooo
The aggregate payroll costs for the year were as follow5..
Wages and Salaries
Social security costs
Pension costs
4,688
450
598
4,330
397
578
5,736
5,305
Aggregate employee-benefils of key management personnel
692
701
2025
2024
Number of higher paid employees in bands of..
£60,001 10 £70,000
£70,001 to £80,000
£80,00110 £90.000
£90,001 to £100,000
£110,001 to £120,000
£120,001 to £130,000
£130,001 to £140,000
The number with reliremenl benefits accruing in Defined Contribution schemes was 1791179 in 20241, of
which the contributions amounted to £598k1£561 k in 20241.
Page | 25

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
The average number of the School's employees during the year was 139 {135 employees in 2024}.
2025
2024
Teaching
Welfare
Premises
Support
Other activities
87
10
96
16
18
16
12
139
135
During the year there were redundancy or lerminalion payments made which amounted lo £194,3401£20,171
in 20241, and al the year-end £86,000 had not been paid (£0 in 20241.
TANGIBLE FIXED ASSETS
Leasehold Computer
improvements
Equiprllenl
£'ooo
£'ooo
Other
Equipment
£'ooo
Total
£'ooo
Cost
At 1 July 2024
Additions
Disposals
7.525
118
475
49
278
74
8,278
242
AI 30 June 2025
7,643
524
352
8,520
Depreciation
At 1 July 2024
Charge for the year
Disposals
601
214
371
81
136
45
1,108
341
AI 30 June 2025
816
452
181
1,449
Nel book values
At 30 June 2025
6,827
73
171
7,071
Al 1 July 2024
6,924
104
142
7,170
Page | 26

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
10.
INVESTMENTS
2025
£'ooo
2024
£'ooo
Investments
Al 1 July 2024
Adéilions
Disposals
Increase in value of investments
Investments at 30 June 2025
1,376
13
12081
1,413
24
{2211
160
1,376
1,183
Investment in SLJbsidiaries
School investments at 30 June 2025
1.183
1,376
Investments comprlse:
Units in CCLA funds
Units in Sl John's College Consolidated Trust Fund
Investment in subsicjiaries
School investments
1,183
1,376
1,183
1,376
Al 30th June 2024, the Units in Sl John's College Consolidated Trust Fund were held as nominee and managed
for the School by Sl John's College. The funds were transferred lo the School in August 2024 and are now
managed on the School's behalf by a professional fund manager, CCLA Investment Management Ltd. The
School is the beneficial owner of the funds
11.
DEBTORS
2025
£'ooo
2024
£'ooo
Fees and extras
Other debtors
Prepayments
Amounts due from subsidiary companies
169
70
128
132
618
32
186
156
499
992
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£'ooo
2024
£'ooo
Entry Fee deposit
Loans
Trade creditors
291
202
196
285
192
97
Page | 27

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 {continued)
Taxation and social security
Other creditors
Accruals
Deposit from parents
Deferred income - Fees received in advance of term
414
88
169
55
134
98
74
144
42
857
1,549
1,789
Deferred income represents school fees received in advance for the 2024125 school year and were fully ulilised
during the year.
13.
CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025
2024
£'ooo £'ooo
Loans
2,702 2.903
The School has an oulslanding loan with the College, repayable over a 15-year term with fixed interest of
5.160/0. Al 30 June 2025 the remaining commitments were as follows..
2025
£'ooo
2024
£'ooo
After five years
Within two lo five years
Within one lo two years
Greater than one year
Within one year
1,784
706
212
2,702
201
2,903
2,030
671
202
2.903
192
3,095
Page | 28

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 {continued)
14.
FUNDS OF THE SCHOOL
The School's funds are analysed under the following headings.
14.11 Endowed Funds
14.1 al Special Trust endowments
These consist of numerous individual gifts, legacies and grants given lo the school over many years for specific
purposes. A distinguishing feature of all these special trusts is the donor's express requirement or implicit
intention that the funds shall not be spent immediately but should be retained for the medium or long term.
Where the retention of capital is explicitly indicated and there is no power lo expend capital as income, the
capital is shown as permanent endowment, otherwise as expendable endowment. In both cases ￿ncome arising
is shown as reslricled funds. These funds are invesled in the Sl John's College consolidated Trust Fund, which
is pooled portfolio of stocks and shares, and cash.
The endowment funds are..
14.1bl Permangnt endowments
Cherry & King Funds
Education & musical training of choristers in need of financial
assistance
Solely for the benefit of Choristers al Ihe school.
For the benefit of Choristers in need of financial assistance
For the benefit of Choristers in need of financial assistance
Parents or guardians not able lo pay school fees.
Clock lo Young choristers
Numerous individual gifts to establish prizes for pupils.
Education & fllusical training of pupils in need of financial assistance.
For parents in need of financi81 assistance
Goodchild Fund
Hackwood & Cope Funds
Earl Fund
Luton Fund
Slrasburger F¢Jnd
Pupils Gifts funds
Ince Fund
Bursary Endowment Fund
14.1cl Expendable endowments
Bursary Fund
Davies Fund
Fuller Fund
For parents in need of financial assistance
For music and wider community, not excluding pupils of the school
Solely for the benefit of Choristers
14.21 Restricted Funds
14.2a} Special Trust Funds
These represent gifts, donations, legacies elc. received from external donors for specrfic purposes bul where
there is no requirement lo preserve capital logelhef with unspent income from certain endowmenls. Expenditure
directly financed by such gifts is shown under reslricled funds.
In addition, unspent balances accumulated on certain endowment funds are held as reslricled funds.
School 8ursary Fund
For parents In need of financial assistan
For the benefit of Action Aid UK
Children's PSHE Fund
Pupils gifts funds
Cherry & King Funds
Numerous individual gifts lo establish prizes for pupils
Education & musical training of choristers in need of financial
assistance
Solely for the benefit of Choristers
Solely for the benefit of Choristers al Ihe sehool.
Education & musical training of pupils in need of financial assistance
Fuller Fund
Goodchild Fund
Ince Fund
Page | 29

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
Hackwood & Cope Funds
EHCP grant
For the benefit of Choristers in need of financial assistance
Grants lo improve the quality of a childTen's learning experience
14.31 Tangible Fixed Assets Funds
Instrument Fund
For music instrument for the benefit of the pupils in the school and the
wider community
Numerous individu81 gifts lo establish prizes for pupils.
For music and wider community, not excluding pupils of the school
Pupils Prize Fund
Stringmoves Fund
15.
MOVEMENTS ON MAJOR FUNDS
Al 1 July
2024
£'ooo
Income Expenditure Transfers
Gainsl At 30 June
Ilossesl
2025
£'ooo
£'ooo
£'ooo
£'ooo
£'DOO
Endowed Permanent
Cherry & King Funds
Goodchild Fund
Hackwood & Cope Funds
Earl Fund
Lulon Fund
Slrasberger Fund
Pr1zes Funds
Bursary Endowment Fund
Ince Fund
Total Permanent
84
128
19
389
131
128
19
391
131
145
148
215
1,126
114
1114}
98
1,015
Bursary Fund
Davies Fund
Fuller Fund
Total Expendable
23
233
1231
1711
1941
162
168
262
Total Endowment
1.388
12081
1,183
At30
June
2024
£'ooo
Income Expenditure Transfers
Gainsl
{lossesl
A130
June
2025
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Restricted funds
Bursary. Scholarship &
Outreach Fun
Bursary Endowment
Pupils gifts funds
Cherry & King Funds
Goodchild Fund
12051
208
14
26
25
Page | 30

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
Earl Fund
Lulon Fund
Davies Fund
Prizes Funds
EHCP Grant & donations
19
76
1761
Total Restrlcted
65
93
12821
208
83
Designated funds..
Tangible Fixed Assets
Instrument Fund
Stringmoves Fund
Pupils trip funds
Total designated funds
General reserve
7,170
241
13401
151
7,071
27
14
7,220
11,336)
27
24
7,133
11.8631
303
550
8,361
{2941
16391
{8,8871
Total Unrestrictod Funds
5,884
8,912
19.5261
5,269
Total Funds
7,337
9,004
19,8081
6,533
16.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Endowed
Restricted Unrestricted
30 Jung 30 June
2025
2024
Total
Total
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Tangible fixed assets
Investments
Nel current assets
Long term liabilities
Total Funds
7,071
7.071
7,170
1,183
1,376
981
1,694
12,702) 12,9031
1,183
83
898
12,7021
1.183
83
5,267
6,533
7,337
17.
OPERATING LEASE COMMITMENTS
The S¢hool has a lease agreement with the College that expires in 2051 and has a 12 months. notice period of
termination. The operating lease (land and buildings) commitments as al 30 June 2025 were as follows..
2025
£'ooo
494
494
2024
£'ooo
476
476
Within one year
Page | 31

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
18.
SUBSIDIARIES AND RELATED PARTY TRANSACTIONS
St John's College
The School is a 1 OOV/o subsidiary of Sl John's College (Charity number.. 11374281.
During the year, the School paid rent and other administrative charges lolalling £634k and interest of £156k lo
the College. The School also made loan repayment5 of £191 k in the year lo the College. Al 30 June 2025. the
school had an oulslanding loan balance due lo the College of £2.9rll. The College paid school fees and
additional costs relating lo Ihe Choristers of £550k lo the School.
SJCS International Limited
The School owns 100ty/o of the issued share capital of SJCS International Limited (company no. 111228161.
SJCS International Limited I'SJCSI'I was sel up by Sl John's College in 2017 as a company limited by shares.
The primary Purpose of SJCSI Is lo licence the intellectual property of the School lo a partner in China in Teturn
for a fee with the aim ol setting up nurseries overseas in the School's name The annual taxable profits of SJCSI
are donated lo the School under the Gift Aid scheme. The results of SJCSI are not consolidated Into these
rinanci21 slalements a5 the School itself is Itself a subsidiary of a larger group, Sl John's College The results of
SJCSI are therefore consolidated in the results of Sl John's College as ullimale parent of the Group.
SJCSI had a turnover of £52k12024 - £66kl, gross profil of £52k12024 - £66kl and a loss before lax of1£2kl in
the year ended 30 June 202512024 - £28k profit). Al 30 June 2025 the company had nel assets of £1 12024 -
nel assets of £1 kl.
The School charged £16k lo SJCSI for the provision of staff and the adminislralive services. The balance owing
from SJCSI lo the School as al 30 June 2025 was £132k. No grft aid was paid lo the School in 2025 12024
£28kl
Other related party transactions
No other related party transactions have been incurred in the year.
19.
PENSION SCHEMES
IAPS Cash Benefit and Life Assurance Scheme
The IAPS Cash Benefit and Life Assurance Scheme is a group personal pension scheme of a defined
contribution nature. The pension charge for the year includes contributions payable lo the IAPS scheme of
£140k and at the year-end £0 was accrued in respect of contributions to this scheme.
APTIS Pension Scheme
The APTIS Cash Benefit Scheme is a group personal pension scheme of a defined contribution nature.
The scheme Is a defined contribution scheme for teachers. The school contribute 16.48 /9 of gross salary for
those in the scheme All staff are eligible. unless decSined by the tjnderwrilers. Members contribute a minimum
of 5.0°/o. The pension charge for the year Includes conlribulions payable lo APTIS of £485k
20.
CONTROL
On 10 September 2021, the activities of the School were transferred from Sl John's College Into a company
limited by gijarantee, Sl John's College School, Cambridge which is a separately registered charity. The College
is the sole member of the company and the School Governors are the directors and the charity Iruslees. The
nel assets of the school. including reslricled and endowment funds with reslricled purposes for the school, were
also transferred lo the School on 10 September 2021. The fair value of the assels transferred was £5.416k and
this was recorded as expenditure in the College Slalemenl of Comprehensive Income.
Page | 32

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
Sl John's College, registered charity number 1137428, is considered lo be the ultimate parent of the Si John's
College Group and the results of the School are consolidated within the Group financial slalements. The Group
financial slaternenls are available from the College's registered office al Sl John's College, Sl John's Street,
Cambridge CB2 1TP.
21.
STATEMENT OF FINANCIAL ACTIVITIES- PRIOR YEAR
Unreslricled Reslricled Endowed
funds
funds
Funds
2024
2024
2024
£'ooo
£'ooo
£'ooo
Total
Funds
2024
£'ooo
Note5
Income and endowments from:
Charitable activities
School fees receivable
Ancillary trading income
Other trading activities
Non-ancillary trading income
Investments
Inve51menl incorne
Voluntary sources
Donations and legacies
8,502
506
8,502
506
43
43
111
23
134
28
61
13
102
Total income and endowments
9,190
61
36
9,287
Expenditure on..
Raising funds
Non-ancillary trading
Other income-generating activities
Financing costs
Inveslfnenl management
38
167
38
167
Total Expenditure on raising Funds
211
220
Charitable activitles
Education and grant making
8,610
273
8.883
Total expenditure
8,821
273
9,103
Net income l {deficit) from operations
.369
{2121
27
184
Gains on investment
10
160
160
Net income l {deficitl for the year
369
187
344
Transfers between funds
15
212
12121
Net movement in funds in the year
369
1251
344
Page | 33

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
Unreslricled Reslricled Endowed
Funds
Funds
funds
£'ooo
£'ooo
£'ooo
2024
Total
£'ooo
Notes
Net movement in funds in the year
(brought fonNardl
369
{251
344
Fund balances brought forward as at
1 July 2023
16
5,515
65
1,413
6,993
Fund balances carried forward as at
30 June 2024
16
5,884
65
1,388
7,337
22.
MOVEMENTS ON MAJOR FUNDS- PRIOR YEAR
Alf
July
At30
June
Gainsl
Ilossesl
2023
£000
Income
£'ooo
Expenditure
£'ooo
Transfers
£'ooo
2024
£'ooo
£'ooo
Endowed Permanent
Cherry & King Funds
Goodchild Fund
Hackwood & Cope
Funds
Ince Fund
Prizes Funds
Earl Fund
Lulon Fund
Bursary Endowment
Fund
Slra5burger Fund
Total Permanent
75
84
114
128
19
191
130
346
116
22
215
145
389
131
13
12)
121
39
13
991
29
16}
112
1,126
Bursary Fund
Davies Fund
Fuller Fund
Tolal Expendable
164
252
422
11611
1511
12121
18
29
47
23
233
262
Total Endowment
1,413
35
171
12121
159
1,388
Page | 34

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
A11
July
2023
£'ooo
Income
Expenditure
Transfers
Gainsl
Ilossesl
At30
June
2024
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Restricted funds
Bursary,
Scholarship &
Outreach Fund
Fuller fund
Pupils gifts funds
Cherry & King
Funds
Goodchild Fund
Earl Fund
Lulon Fund
Davies Fund
Prizes Funds
EHCP Grant &
donations
11611
161
151}
51
25
25
20
61
1611
Total Restricted
Funds
65
61
12731
212
65
Designated funds:
Tangible Fixed
Assets
Instrument Fund
Pupils trip funds
Stringmoves Fund
rolal designated
funds
General reserve
7,442
{381 }
109
7.170
141
11901
198
14
27
7,220
27
7,481
205
15751
109
{1,9651
8,984
18,2461
11091
(1.336)
Total unrestrlcted
Funds
5,516
9,189
18,821)
5,884
Total Funds
6,993
9,287
{9,1021
159
7,337
Page | 35

ST JOHN'S COLLEGE SCHOOL, CAMBRIDGE
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025 (continued)
23.
ANALYSIS OF NET ASSETS BETWEEN FUNDS -PRIOR YEAR
Endowed
Restricted
Unrestricted
30 June
2024
Total
£'ooo
£'ooo
£'ooo
£'ooo
Tangible fixed assets
Investments
Nel current assets
Long term liabilities
Total Funds
7.170
7,170
1,376
1,694
(2,9031
1,376
64
1,630
12,9031
1,376
64
5,897
7,337
Page | 36