THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
REPORT AND FINANCIAL STATEMEPtrs
FOR THE YEAR ENDED 31 AUGUST 2022
Company Registration No.. 01710695
Charity Registration No.. 286892

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
REPORT AND FINANaAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Page
Governors. Officers and Advisers
Report ofThe Governors
3-20
Independent Auditorfs Report
Statement of Financial Activities
24
Balance Sheet
25
Cash Flow Statement
26
Notes to the Financial Statements
27-43

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS. OFFICERS AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2022
REGISTERED OFFICE:
Faringdon Road, Abingdon, Oxfordshire, OX14 IBE
DIRE￿OR5 AND
GOVERNING BODY:
Appointed
Resigned
Committeelsl
Mr Kevan Leggett
17106/2013
111121131141151161 Chair of Governors,
Chair Finance & Operations, Chair Remuneratlon
Mr Neol Bailey
2110312022
Miss Sara Benbow
2110312022
Mrs Pauline Cakebread 2810211994
M5 Sharon Cooper
3011112020
Mr Giles Crowe
2611112018
Mr David Lea
0910311998
Mrs joanne Loveridge 0210912016
Mrs lenny Mitchell
20/0312017
Ms Jacqualyn Pain
1810312019
Mrs Olivia Rathbone
2611112018
Dr Manjari Chandran-
Ramesh
2210312021
Mr Graham Steinsberg 1510512021
141
141
111121161 Chair Foundation
141
131 Chair Buildlng Development
151
151161
141151 Chair Governance, Chair of Education
20/0612022
111161
111121 Chair Finance & Operations Comrnittee
2010412022
Member of the Finance & Operations Committee (previously known as Finance & Systems Committee)
Member of the Remuneration Commlttee
Member of the Building Development Committee
Member of the Education Commiltee
Member of the Governance Committee Ipreviously known as Risk & Compliance Committeel
Member of the Foundation Committee
121
141
161
The following Governor retired on reaching their 4-year annrversary and was re-appointeil for a further 4 years..
Giles Crowe
OFFICERS:
HEADMISTRESS:
Mrs Rebecca Dougall
SECRETARY & BURSAR: Ms Alison Jarratt until 3 Jan 22
SECRETARY & DFO:
Mrs Nicola MrAvoy from 4 Jan 22
CLERKTO THE
GOVERNORS:
Mrs Elizabeth Tyler
KEY MANAGEMENT
ROLES..
Headmistre55, Dirertor of Finance & Operations, Deputy Head, Director of Staff.
Direttor of Students, Director of Communications, Head of Sixth Form

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, OFFICERS AND ADVISERS (continued)
FOR THE YEAR ENDED 31 AUGUST 2022
BANKERS:
National Westminster Bank plc
11 Market Place
Abingdon
Oxfordshire
OX14 3HH
INSURERS..
Endsleigh Insurance Service5 Limited
Endsleigh Park
Shurdington Rd
Cheltenham GL514U
AUDITORS:
Hay5macintyre LLP
10 Queen Street Place
London
EC4R IAG

THE SCHOOL OF ST HELEN AND ST KAThARINE TRUST
GOVERNORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The Governors present their annual report for the year ended 31 August 2022, in accordance with the Charities
Act 2011, and the Companies Act 2006, together with the audited financial statements for the period, and confirm
that the latter comply with the requirements of the Companies Act 2CKJ6, the Compan￿5 Memorandum & Artlcles
of Association and the Charities SORP 2019.
REFERENCE AND ADMINISTRATIVE INFORMATION
The School of St Helen and St Katharine Trust (the Trust) is a charitable company limited by guarantee, company
registration number 1710695 and charity registration number 286892. In the event of the company being wound
up, the liability of each member is limited to a maximum of £1.
The Trust was originally founded by Trust Deed in 1903 and was subsequently incorporated on the 29 March 1983.
STRucfuRE. GOVERNANCE AND MANAGEMENT
Governing Document
The School is governed by its Memorandum and ArticFes of Association. last amended on 16 July 2017.
Governing 8ody
The members of the Governing Body are listed on page l. Member5 of the Governing Body are elected initially by
existing Governors, in accordance with the Trust's recruitment policy and are then subject to re-election as set out
in the Articles of Association. Governors serve a four-yeartemi whereupon they must retire but may be re-elected
for a further four-year term. Members of the Governing Body are also trustees by virtue of being directors of an
incorporated charitable trust.
Recruitment und Tralnlng of Governors
Potential Governors are identified by members of the Governing Body and considered against the Body's
specifications concerning eligibility, competence, specialist skills and local availability. They seek to achieve a
balance of experience and a background in secondary and higher education, finance, business, law, facilities
management, health & safety, information technology and as parents and former pupils.
On appointment, Governor5 are provided with an induction pack, briefings and a tour of the School to give them
an understanding of the School's operation and finances. Further training is offered at seminars and through
briefings ar regular meetings. At appropriate intervals, specific aspects of the School are examined on study days.
Organisational Munagement
The members of the Governing Body are legally responsible for the overall management and control of the School.
The Governing Body meets at least three times a year and at other times as required. Sub-committees prepare
recommendations for approval and are scheduled to meet in advance of each meeting of the Governing Body.
except for the Building Development Committee, which schedules its meetings according to projects and capital
investment that is being considered. Mr Kevan Leggett is Chair of Governors and Chair of the Remuneration
Committee, Mr Graham Steinsberg was Chalr of the Flnance and Operations Committee until 20 Apr 22 and then
replaced by Mr Kevan Leggett, Ms Jaqualyn Pain 15 Chair of the Education Committee and of the Governance
Committee, Mr David Lea is Chair of the Building Development Committee and Mrs Pauline Cakebread is Chair of
the Foundation Commlttee. A full list of committee members is on page l.

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2022
STRUCTURE GOVERNANCEAND MAr￿GEMENT fcontiTnuedJ
The day to day running of the School is delegated to the Headmistress who is assisted by the Director of Finance
& Operations, the Leadership Team and the Senior Management Team. The Headmistre5S, the Director of Finance
& Operations and the Deputy Head attend meetings of the Governing Body and other members of the Leadership
Team attend as required.
Remunen7tion of Key Management Personnel
The Governors consider that the Leadership Team comprise the Key Management Personnel (see note 8 to the
accounts) of the School. Remuneration of the Leadership Team is set by the Remuneration Committee and is kept
under annual review. A number of criteria are used in setting pay..
Nature of the role and responsibilities
Sector salaries as indicated by various benchmark and other market reports
Cost of living increases
Trends in pay
The Governors aim to provide market competitive salarie5 and recognise the need to pay higher salaries for
exceptional candidates where this is in the interest of the School.
Group strurture
The Trust has a wholly owned non-charitable subsidiary, HK Activitie5, which has ceased to trade and is not
consolidated. This is a company limited by guarantee whose Director is one Governor.
CHARITABLE OBJEcfs AND AIMS
The Trust's objects are specifically restricted to the following..
To advance the education of the pupils of The School of St Helen and St Katharine, giving a sound Chflstian
and moral basis, by providing and assisting in the provision of facilities for education and accommodation
at the school.
For the public benefit to promote the education lincludir¢g social and physical training) of people under
the age of 19 years in such ways as the Trustees think fit, including by..
Awarding to such persons scholarships, bursaries, maintenance allowances or grants.
Providing their education lincluding the study of music or other arts), to prepare them for entry to any
other educational establishment, occupation, trade or profession.
Aims
The principal activity of the Trust is to operate The School of St Helen and St Katharine as an independent day
school for girls aged from 9 to 18 years. The Governors, policy is to ochieve a social mix.
The Trust aims to develop the individual talents and stiengths of all pupils within a community based on Christian
values so that they may grow in confidence, increase their awareness of the moral and spiritual dimensions of life
and achieve high leve15 of intellectual attainment.

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2022
CHARITABLE OBJEcfs ANO AIMS {continuedl
OBJEcfivES
In setting objertives and planning activities Governors have given careful consideration to the Charity
Commission's guidance on public benefit.
To continue to be the leading girls, school in the area.
To continue to deliver the further development of the School's involvement in partnership activity
intluding our involvement in a town-wide learning partnership with both maintained and independent
schools.
To develop further systems of 5UPPOrt for those students and their families who encounter challenges to
their mental health.
To enhance academic enrichment programme to support academic resilience and scholarship.
To continue to work with partners on the building and fit out of the new sixth form centre and begin the
process of planning the reuse of existing facilities to support aspirations for 5tudent5' experience.
To continue to develop profile of new STEM sixth form bursaries and increase applicant group.
To build a sustainable approach for fund-raising to support bursary provision.
To review the structure of the school day to support work with Abingdon School and other partner schools
and extend extra-curricular opportunities for students.
To develop our strategy on Diversity and Inclusion, working with key partners to support our work.
To ensure sound financial planning is in plate taking atcount of the current and future economic and
political pressures.
ETH05, STRATEGY AND POLICIES
The School is an academically selective school for girls aged 9 to 18. Fees are set at a level to ensure the viability
of the School consistent with providing excellent education and facilities.
The School aims to recruit girls from both independent and maintained schools who demonstrate the potential to
meet the academic and general standards commensurate with the ethos of the School. The School must be
reasonably sure that it will be able to develop the individual talents and strengths of the prospective pupil so that
she may have a happy and successful school career and become a confident, well rounded adult.
Applitations are encouraged from all backgrounds. Students are encouraged to achieve high academic standards
within a caring, happy, supportive environment.
Equol Opportunities
Each member of the School is valued as an individual and we strive to create an environment in which all pupils
and staff are encouraged to achieve their full potential.
We are committed to the principles of equality, opportunity and freedom from discrimination on the grounds of
race, language, gender, reli8ion, socio-economic group, age, sexual orientation or disability.
We seek to promote the principles of equality in education and to adhere to national legislation. Our aims are..
To ensure respect and acceptance for others.
To ensure that all pupils have access to a broad, balanced and appropriately differentiated curriculum.
To recognise and counter inequality and prejudice.
To promote an understanding of the diverse society In which we live.

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS. REPORT {continuedl
FOR THE YEAR ENDED 31 AUGUST 2022
ETHOS, STRATEGY AND POLICIES {contlnuedl
To demonstrate that society is strengthened and enriched by such diversity.
To challenge the processes which lead to stereotyping and to encourage a critical understanding of the
causes and assumptions that underlie prejudices.
To ensure that discrimination against an individual or group is dealt with appropriately and that any form
of harassment is not tolerated.
To ensure that prospectuses and other advertising literature reinforce our philosophy.
Applicants for posts at the School are judged on their merits, regardless of gender, age, race or ethnic or national
origins, or marital statu5. All staff are required to undergo the Enhanced DBS check. Any disclosures will be
considered fairly.
Disabled pupils are not treated less favourably. We seek to make reasonable adjustment5 $0 that disabled pupils
are not put at a disadvantage to pupils who are not disabled. This includes improving ways in which written
information is provided to pupils who are disabled.
The religious Se￿iCe5 are Christian and we do not have any plan to provide services for other faiths.
Pastoral care is a major feature of the School, supporting all pupils with warmth and encouragement. Parents are
given regular feedback on pupil progress through reports and parents, evenings. Information about the life of the
School is provided through the weekly and termly newsletters and the School website and Extranet. Form tutors,
Year and Settion Heads monitor academic, extracurricular and social progress, providing individual support where
necessary.
Scholt7rships
Scholarships are awarded, by the Headmistress, to recognise excellence. ability and potential in one or more
academic or extracurricular areas. The financial value is modest, and they are not subject to means testing.
Academic scholarships are valued at £500 per annum, music scholarships provide free tuition in one instrument
and all other scholarships are valued at £300 per annum.
Scholars will be expected to make a Significant contribution to school life through their enthusiasm and
commitment to the particular area for which they have been recognised. Progress will be monitored and scholars
will be invited to a review meeting to discuss progress and future goals as they begin and complete each sectio
of the school= Lower School (Years 7 and 81- Middle School (Years 9-111 and the 5iKth Fomi.
Students may hold awards in more than one area Ithe second being of honorary rather than of financial value),.
two non-academlc awards cannot be held by the same individual.
Bursuries
Governors consider bursaries are fundamental in achieving a social mix and enabling pupils whose parents would
otherwise not be able to afford the fees to have access to the education we offer. Candidates for entry from Il+
and above may apply for bursaries. They are awarded to candidates whose performance in the entrance tests
suggests academic merit and where the application satisfies the financial assessment required by the Governors.
They may also be awarded to current pupils in cases of financial hardship to ensure continuity of education. All
bursaries are reviewed annually; they may increase or decrease according to circumstances.

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT {continuedl
FOR THE YEAR ENDED 31 AUGUST 2022
ETHOS, STRATEGY AND POLICIES Icontinuedl
Awards can be of any value, up to 100% of fees and sometimes other costs. Information on availabllity of bursaries
is included in advertisements, prospectuses and on the School website. Succe55 of the scheme is reported in the
review of activities.
STRATEGIC REPORT
REVIEW OF ACTIVITIES AND ACHIEVEMENT5
The average number of girls on the school roll was 713 (2021.. 712). The roll for the next academic year 2022123
will be 723. Fees were £5,995 per term.
Academic result5
The School delivered strong grades in both A Leve15 and GCSE5 as follows..
At A Level, students achieve a 100% pass rate with 94% at A*, A and B grades. 77% at A IA and 40% at A
At IIGCSE, 89% were passed at 9-7 and 71% 9-8.
Leovers
Students have again been very successful in gaining places at university with 95.5% gaining places at their chosen
university. 4 students took up places at Oxbridge and 5 students took up places to read medicine, 2 student5 took
up places to read physiotherapy and one to read bio veterinary medicine at the Royal College of Veterinarv
Surgeons. Orbe student took up a place at Universlty of Chicago to read Liberal Arts.
Independent School Inspertorate Inspertion
The m05t recent Independent Schools Inspectorate11S11 inspection took place in February 2022 and was a focused
compliance and educational quality inspection. We were delighted that we met all of the regulatory elements of
the focussed compliance inspection, and were graded as 'Excellent' for both the students, academic and personal
development. The focus of all inspections is upon the outcomes for students, and we were particularly thrilled bv
the positive responses of students and parents in the pre-inspection questionnaires.
The key findings of the ISI Inspection Report were:
The quality of the pupils, academic and other achievements Is excellent
Pupils have excellent knowledge and understanding of all areas of the curriculum.
Puplls develop excellent skills in communication; they are articulate, listen with respect and present their ideas
coherently.
Pupils have a positive attitude to their studies and an outstanding work ethic.
Pupils gain confidence and skills in the wide variety of extra-curricular activities available to them and through
participation in local and national competitive events.

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT {continuedl
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT (continued)
The quallty of the puplls, personal development is excellent
Pupils show an excellent level of maturity in their relationship5 With each other and the staff.
Pupils have a very strong sense of community both in and out of school.
Pupils develop a strong sense of self-worth throuEhout their time in the school.
Pupils are very aware of the importance of respect and tolerance and of the inclusion of all.
Extro-currlcular Artlvltles
There continues to tje an excellent range of activities available beyond the classroom with trips, visits and
expeditions and over 100 different groups, clubs and activities on offer. Some of the strongest features include..
PE and Sport
The continued participation and excellence across the whole PE department is solidified by over 130 students
representing county level or above in their chosen sport. With an additional 8 students representing their
country in Equestrian, rowin& windsurfing. lacrosse and netball.
There have been a multitude of extracurricular clubs spanning before, during and after school. This also includes
weekend competitions and fixtures in many sports. The development of partnerships events is a continued work
in progress. As well as hostinE events in indoor athletics, cross country and indoor cricket, there have been
opportunities to get involved in community initiatives and provide young sports volunteer5 for events such as
Chance to Shine cricket and local sports partnership hockey tournaments. The continued provision of house
events encourages participation across all the year groups and fosters the sense of belonging in their house.
New clubs have included rugby, trampolining, taekwondo and hardball cricket nets. We have also seen a
welcome return to basketball and badminton fixtures with our first ever rugby matches taking place in the Lent
term.
Cricket=
Funding from the Parents association for indoor nets has allowed cricket to continue to develop with successes
achieved at both indoor and outdoor competitions. The U13 and UIS reached the national finals at Lords,. the
U13 came second and the Ul55 came joint third. Our hardball team5 progressed to the second round in U15 and
U18 School sports magazine and we participated in the 100 ball competition. The appointment of a specialist
cricket coach has accelerated our provision.
Athletics..
Cross country had a fabulous season seeing the senlor and junior girls progress through to the national finals
held in Newquay. The track and field cup saw the jLbnior and intermediate 8irls progress to the regional finals.
Tennis:
Tennis has continued to be a key summer sport with more students than ever taking the opportunity to play on
the courts during their spare time. Aegon, Aberdare and ISTA tennis competitions have been participated in as
well as numerous friendly fixtures across the county. At the ISTA competition we had success for 2 of our pairs
lin Year 8 and Year 91 and were runner5 up in the UIS Springthorpe Cup and the U13 Ralph Cake Plate.

THE SCHOOL OF ST HELEN AND 5T KATHARINE TRUST
GOVERNORS, REPORT {continued}
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT {continuedl
Netball..
The U14, U16 and U19 were all county netball champions for the second year running. The U14 a150 progressed
to the national finals where they came runners up, losing on golden goal in extra time. This talented year group
also reached the Sister and sports cup final, coming runners up again through golden goal.
Equestrian..
The School won the SEG 80cm School Team Eventing 2021 Championships
Hockey..
We have reintroduced hockey training and match play this year.
The U145 came 3 at the CountyTournament
The U125 won the County Tournament
The U16 won the County Indoor Tournament and came 6 at the Regional Tournament
The U18 came 3 in the County Indoor Tournament.
Lacrosse-
The following successes were achieved-.
I team came 6, in the SW rally
2. team came 4, in the SW rally
I" Team came 4, place, 2. Team came 3rd place and U15 came 4 place at the 5 Schools Tournament
U12 won the Top Test in September
od
2 team won the Division 2 cup at the National Championship5
I, Team got through to the quarter final in the division I cup10st at the golden goal at the National
Champlonshlps.
Swimming..
Swimming has gone from strength to strength with continued participation in the ESAA relay, the Nelson and
Bath cup and the Wycombe Abbey Swimming League. The Senior girls came fifth in the WA league with the
inters came fourth and the juniors also came fourth out of 8 teams. The Juniors were also reserve team for the
national swimming finals.
he Great Dance Off:
The Year 8 dance team progressed to the national flnals where they were placed 18,
Gymnastics-.
At the BSGA Regional Championships the U18 came 61h place and U14 came 4th place.
Football..
Achievements in the year Sncluded..
U13 SNS plate QF
U14 SNS plate QF
U15 SNS plate round I
U13 ISFA 7 a side 31d place

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT IcontFnuedl
FOR THE YEAR ENDED 31 AUGUST2022
STRATEGIC REPORT (continued)
Mu51C
This was very much a year of rebuilding following the strict restrictions of the previous two years. Whilst mixed
year group ensembles could resume, we were still faced with restricted numbers, both of performers and of
audience numbers, face mask requirements and frequent disruption linked to Covid absences. We were absolutely
thrilled to be returning to live performances, however and very much took the view that any music-making that
could and was taking place was a positive step forward. Many events were filmed and a link released via the weekly
mailing so that parents unable to attend could still enjoy the performances.
Individltal muslc teachers returned to live teaching in school, although there was the continued logistical difficulty
of timetabling singing, wind and brass lessons in larger rooms. Visiting examiners also returned for ABRSM music
examinations, although students Still have the option of entering for pre-recorded Performance Grades and all
music theory examinations lup to Grade 51 remain online. Numbers of students taking up music lessons remains
good and music examination results were very strong, including an outstanding Grade 8 sinEing result of 1451150
from one Upper 6 student.
The Michaelmas Term saw a Sixth Form Scholars, Concert, Tea Concerts, Strings, Concert, Middle School Scholars,
Concert, Piano Concert and Singers, Concert. These were the very first school concerts for many of the performers
and our select audiences seemed to be extremely appreciative. Musicians also provided a wealth of performance
t the annual Open Day in October, led in particular by the music scholars.
The Joint Choral Society with Abingdon Sthool restarted with students and staff. The concert in November was
hosted at St Helen's and conducted by our Assistant Director of Music. A sizeable, if not capacity audience joined
us in our Theatre for a concert performance of Gilbert and Sullivan's The Pirates of Penzonce, featuring Upper 6
soloists from both schools.
At Christmas time It was wonderful to be able to have the two formal services of Christingle ILower School Choir)
and Nine Lesson5 and Carols Ichapel Choirl- The annual Christmas carol competition took place and won by a Year
7 student and performed by Upper 6 vocal ensemble. The whole School did meet in the outside in the quad the
previous day, in order to be able to sing our traditional carols around the world. featuring the ever popular Ande,
Ande, Ande. The Big Band Christmas assembly was performed to a hybrid of students live in our Theatre and
streamed to classrooms and the Brass Band performed carols Ibehind protective screens) in Old School Hall, to
entertain students queuing for Christmas lunch.
Eight chamber ensembles took part in the first round of the reinstated Pro Corda national chamber music
competition. In preparation for this, we were able to present a chamber music concert in Chapel the first one
for two years and our music scholars were heavily involved in this. Four groups made it through to the National
semi-finals-. Vivaldi, Fazioli, Gagliano, Stoelzel and Grenadilla. There wa5 also a successful Jazz evening featuring
Jazz, Blues and Pop performances from a range of performers. The annual Plucked Strings concert took place and
our younger performers joined together in the Winter Concert- the first evening concert that many of them had
ever given at St Helen's. There were performances from Lower School Choir, Junior Choir, Sirbfonietta, Sinfonia,
Cello and Bass Squad, Team Pachelbel and Wind Band.
10

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT {continuedl
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT {continuedl
The annual Spring Music Festival returned to its live format of two competitive recital competition5. The Open
Class lopen to students in Year 10 and above at a Grade 6 - 8 levell boasted 19 recitals and was won by a Year 10
violinist, The Retital Class IGrade 8 and above) included 6 stunning recitals with I place to a Lower 6 student for
her trombone recital. The visiting professional adjudicators were extremely impressed with the high standards on
display.
The Spring Concert came at the end of the Lent term and was an event of extremely high quality from our senior
ensembles, choirs and orchestras. One of our Upper 6 music scholar5 gave an outstanding performance of the 2nd
nd
movement of Shostakovich's 2 piano concerto, accompanied by Camerata. Other highlight5 included Chapel
Choir singing a beautiful contemporary work, Tundru by Gjeilo, including a soprano solo from U6 Head Chorister,
and an extremely moving performance of a Ukrainian folk song Verbovoya Doschechko featuring a violin 5010 from
another U6 music scholar and culminating in every performer in the concert playing and singing together. This
was Inspired by a video on social media of a Ukrainian violinist performing this song in a bomb shelter and inviting
musicians around the world to perfomi the song in honour of the Ukrainian people. The concert also raised over
£300 for the Ukrainian relief fund.
The Gala Music Dinner took place early in the Trinity term and was a joyous celebration of our fabulous musician5.
The Musical Theatre evening also took place in the Trinity temi. this was an extremely energetic and inspiring
event of two shows an hour apart on the theme of 'Dreams'. Amongst a number of toe-tapping chorus numbers.
there were some stand-out solos from members of the company who meet weekly on a Thursday lunchtime. The
Strings department also produced a delightful concert in the Science Atrium entitled 'Around The World, and
Chapel Choir provided the musical content for the Confirmation seNice, joint with Abingdon School, and preslded
over by the Bishop of Dorchester.
All of our muslc scholars, except for those on external exam study leave, attended a scholar5, day alongside sports,
art, drama and academic scholars, held at Church Farm. It was organised by the PE department and run by a
former Olympic gold medallist Kate French. Activities centred around the topics of performing under pressure,
reframing setbacks, choosing your philosophy and setting goals.
The renewed confidence of our performers was in evidence in the Singers, Concert, Piano Concert, Lower School
Scholars, Concert and Tea Concerts. Our younger musicians produced a wonderful collaboration with the drama
department in a production of Alice In Wonderland and the Summer Concert also showcased the strength and
depth of our younger ensembles such as Sinfonietta, Wind Band and Lower School Choir.
The end of year celebrations included a return to a full House Music competition, won this year by Paterson House,
a highly successful Jazz Afternoon, in which current and former staff and students paid tribute to our Head of Wind
and Brass who was retiring after 36 years at St Helens, the Leavers, Evensong in Chapel and the end of term
Eucharist held at St Helens, Church in Abingdon and led by Chapel Choir.
Dr(4ma
The 2021-22 academic year provided a welcome gradual return to full scale live theatre performances, as the
re5triction5 of the covid pandemic were gradually released. This was a busy year for the drama department and it
has been a delight to see students from across the year groups getting involved in productions both on stage and
behind the scenes.

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT {contlnued)
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT (continued)
The productions were as follows:
In September 2021, two U6 drama scholars directed their original verbatim production of Bubbles, which was
based on a range of individual experiences of life during lockdown. This project involved 10 students from U6
and the production was performed to a socially distanced audience in September 2021.
In December 2021, the Middle School production of George Orwell's Animt71 Farm ladapted by our Drama
Department) was performed in the Studio Theatre, involving 30 students across Years 9 and 10.
A dedicated joint Yll play Chaosl written by Laura Lornas took place at Abingdon School in January 2022. 8
Yll St Helen's students participated in this studio production.
The joint Senior production of Shakespeare's A5 You Like It took place in February 2022, transporting the
audience to 19605 Carnaby Street in a riotous explosion of colour and musicl This production involved over
40 students from Year 11- Upper 6 from both St Helen's and Abingdon Schools.
A150 in February 2022, the joint Senior production of Frankenstein by Rona Munro took place in Abingdon's
Amey Theatre. The cast included 6 St Helen's students, many taking to the stage for the first time in this
chilling production.
In March 2022, The Ashes of Pudding Lane, an original play written by two members of Year 9 took place in
the Studio Theatre. This mystery, set just after the Great Fire of London, was the winning entry of the
playwriting competition and was both performed to live audiences and livestreamed for parents who were
unable to attend in person. It involved 20 students across Year5 7 to g.
The Lower School production of Alice in Wonderland, took place in our Theatre in June 2022. This production
was performed to audiences of parents, Students, Staff and visitors.
In August 2022, 6 St Helen's students took part in an original production entitled Antiques, which played for
6 nights at the Edinburgh Fringe Festival and performed two previews at the Amey Theatre, Abingdon
School.
Years 5 to 9 were offered weekly lunthtime clubsi providing an engaging learning experience and helping to
build performance skills. These were well attended, particularly by Years 5 to 7.
Duke of Edinburgh's Award
In 2021-22, 90 Year 9 students opted to participate at Bronze level, 35 Yeaf IOS moved on to their Silver award
and there are currently 11 girls in Sixth Form working towards their Gold Award.
12

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT {continued)
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT (continued)
Throughout 2021-22 we were able to facilitate the opportunity forall students who enrolled for the award in 2019-
20, 2020-21 and 2021-22 to complete their bronze and silver level practice and qualifying expeditions as required.
With expeditions taking place every term and hence this was very busy but extremely worthwhile.
Award completions in the academic year totalled 106: Bronze 69, Silver 25 and Gold 12. During this time
students have also been able to gain a DofE Certificate of Achievement if they complete the Volunteering,
Physical and Skills sections of their award- where it has not yet been possible for participants to complete an
expedition due to Covid restrictions. In 2021-22 there were 62 Certificate of Achievements earned.. 41 Bronze,
14 Silver and 7 Gold. Some of these have now been converted to full awards as students completed expeditions
in Michaelmas term 2022.
PUBLIC BENEFIT
Bursary and 5cholar5hip Award5
A total of 141 students119.8%% of the roll) have had financial support from bursaries and scholarships, amounting
to £662,67312021.. £633,498) equivalent to 5.2Yo of gross fee5.
Bursaries
The total value of means tested bursaries for the perlod was £565,21712021.' £526,839). equivalent to 4.4Y¢
of gross fees. This provided assistance to 42 students12021.' 491 of which 11 (2021.. 12J were fully funded. Of
these, three scholar5 have continued to be 5UPPOrted to the full value of fee5 and travel costs.
Two types of bursaries are awarded,. on entry to the school and at an unplanned future date where an interim
or hardship award may be made to provide assistance for a short period of time.
The GoverrTrors have confirmed a wish to continue to provide bursary support and include the bursary policy
in their regular review of long-term planning for the School.
Scholurships
During the period 99(2021.' IOOJ girls benefitted from scholarships, based on educational merit and potential.
The sum awarded represents 0.8% of gross fees.
Partnerships
The School's partnership vision is to work in collaboration with local primaries to enhance their provision with a
particular focus on sport and STEM,. to continue to develop the separate identity of the Learning Partnership and
to contribute to the aspirational piece of its work, creating benefits for all its stakeholder5 Istudents. parents and
staffl.
13

THE SCHOOL OF ST HELEN AND ST KATHARINETRUST
GOVERNORS, REPORT Icontinuedl
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT (continued)
During the course of the year, the School has engaged with a wide variety of schools and other organisation5
delivering education, careers and higher educatiori advice, community seNice, opportunity and engagement and
use of facilities. Last academic year we impacted over 3,500 students. workinE With more than 20 schools. A
summary of this activity is shown below.
OX14 Learning Partnership..
Six schools (St Helen's, Abingdon, Radley, Larkmead. John Mason School and Fitzharrysl working together to
challenge, inspire and support students across Abingdon.
All schools play a key role in the operations and strategy the Learning Partnership, last academic year we
provided over 3,900 student experiences Inumber of students x number of hours x number of sessions)
Impacting 1,511 students.
The Peer Support Lead programme trained students to provide valuable pastoral support to their peers.
SO students from Years 8- 13 took part in Academic Coaching as a coach or coachee.
80 students from St Helen's, Radley and Fitzharrys took part in a pilot Oxbridge Club for Year 11 students
aspiring to attend these universities. This will become and ongoing programme of support from Year 11- 13
acros5 all six schools.
46 students attended a Youth Forum as part of a Climate Conference and created a student manifesto.
Careers and University talks made avallable to Sixth Form student5 from across the schools.
Student Voice sessions gave students a chance to discus5 relevant issues and work collaboratively.
Rugby coachin8 sessions provided a space for all students to take part in sport regordless of experience of
ability.
Creative Arts..
30 students from iffley Academy, Oxford Spires and Larkmead came together with 4 entrants from St Helen's
in a professionally adjudicated 5010 dance competition. "Our5tudents very much enjoyed being involved and
many have asked obout the opportunity to participute agoin." (Oxford Spires).
220 students from 2 local maintained primary schools and one secondary school were able to experience live
production of Alice in Wonderland. "The students really enjoyed the Matinee performunce, some thought the
Cheshire Cot W05 qulte scary, they talked about the humour in the production ond like the ideo of the three
different Alices." ILarkmeadl.
150 students from 4 primary schools experienced art workshops in preparation for the Henge 22 Festival and
learnt about prehistorical societies may have lived in their local area. Over 50 student5 from Didcot Girls,
School, St Birinus and Wallingford schools joined with St Helen's students in a dan￿ and drama performance
at the festival. "Thank you so much for oll your hard work towards the Henge Donce Festivol. Our daughter
ubsolutely loved being involved and we thoroughly enjoyed the dance performonce" Iparentl.
135 students from 5 primary schools enjoyed arts workshops led by St Helen's teachers in their own school,
followed by a classics poetry and drama morning at the School. The students, work was displayed at
Cornerstone Arts in Didcot.
14

THE SCIIOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT (contlnued)
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT {continuedl
Creativity Meets the DiEltal World created a huge onllne resource of guided activities, interactive lesson plans
and talks which were enjoyed by 500 students from across 5 local secondary schools. "We completed the
ft75hion workshop, which wos omozing ond engoging...Honestly, the tutorial really lit afire in them.
(Larkmeadl.
A collaboration between the Creative Arts Partnership, the PE Department and lffley Academy saw 14
Academy students Participate in Sports Photography workshops producing some fantastic images of
trampolining.
Work experience
2 lffley Academy students joined the Estates Department at the School for weekly work experience. "Thank you
for all the support you ore giving the boys. They are really enjoying their time with you. They love the diversity in
jobs availuble."
Sport
Over 15 primary and secondary schools participated in an impressive array of events intludinE ind()or and
outdoor athletics competitions, swimming galas, cross country races and cricket impacting over 500 students.
Environment Sustainability and Governance
The profile of environmental 5U5tainability took an enormous step forward in 2021-22, in all areas of the School.
From a curriculum perspective, efforts were spearheaded by the Geography Department and their whole-school
awareness campaign in support of the COP26 Climate Summit. During this landmark two weeks in mid-
November, every academic department spent time focusing on what can be done in our daily lives, at school and
at home to make a posltive difference.
Beyond the curriculum, we continue with our aim of making sustainable changes to our food thoices.. with the
introduction of Meat-Free Monday and a greater range of meat-free options are available during the week. Food
waste is a particular target area, with measures being taken to ensure as little as possible is discarded. The Food
and Nutrition department have also played their part here, educating students in choosing ingredients that have
not been air freighted and those with less packaging, cooking more plant-based recipes, and gmwing seasonal
vegetables and fruit in our school greenhouse.
There has been a drive to reduce the amount of paper being used in School. Much of the 6th form curriculum,
particularly in subjects like geography, physic5, RPE and math5, has been digitised, as have many administrative
actions. The termly magazine 'Lines' is now printed on recycled paper, as is the annual alumnae magazine
(distributed to approximately 3,OCK) alumnae) also uses fully compostable casing (made with potato starch). In
addition, most alumnae were encouraged to choose to view the magazine online rather than being posted a
copv.
15

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT Icontlnuedl
FOR THE YEAR ENDED 31 AUGUST 2022
STRATEGIC REPORT (continued)
From an estate's perspective, much work continues to be undertaken to improve the efficienry and sustainabilitv
of the school building5 and ground5. Our Theatre now has new, low power LED liEhting, and a new gas boiler
was installed during the summer holidays to improve efficiencies in the Jean Duffield BuildinE. It is extremelv
encouraging that the new 6, Form Centre include5 an air-source heat pump, as well as a real focus on
sustainability in its design, building materials, and the planting scheme for the outside areas (which include bat,
bird and invertebrate boxes).
Under the direction of our Head of Outdoor Learning, there has been much work on the ecology of the Church
Farm 51te, including fruit tree planting and insect havens and plans are well Ltnderway for the planting of an
extensive wildflower meadow. The meadow will be funded by our Parents, Association and will be sowed by
members of the Junior Department in the coming year.
Efforts around sustainability continue with purpose into 2022-23, with a newly appointed Sustainability
Champion, a Sustainability Working Group and a revived student Eco-council with a push to achieve 'Eco School
Green Flag, status as we continue to work towards net-zero.
16

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT Itontinued)
FOR THE YEAR ENDED 31 AUGUST2022
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The School's operating surplus on its Unrestricted Funds was £1,243.623 f2021.' £989,153J.
School fee income increased by £990,234. Demand for places at the School remains high.
The School has a revolving credit facility of £IOm in place with Natwest,. £1.6m was drawn down in the financial
year as payment towards the new 6, Form Centre.
The School achieves its liquidity objectives ljy the careful management of working capital and regular forecasting
of short-term and long-term cash requirements.
The School's cost base predominantly comprises of staff costs and therefore the impact of inflation on non-staff
costs is modest. Increases in cost of utilities and food together with interest rate rises are all impacting on the
future forecasted costs for the School. These are being considered carefully by the executive team and the Board
of Governors.
The School's exposure to credit risk is low and is mitigated by fees being due at the beginning of each term. Some
parents choose to pay fees monthly via a third-party provider, School Fee Plan.
The accounts reflect the estimated deficit in the defined benefit pension fund for eligible non-teachlng staff.
Access to this scheme was closed in 2007 and new employees are offered a stakeholder pension scheme instead.
There are 4 staff members left in this pension scheme.
Investment performancefvr the period
At the year end the value of investments held was £1,448,867 (2021.. £1,483,621) with income from investments
during the period of £48,985 compared with £38,479 in the previous year.
Fundraising
The School has continued the policy of the Foundation raising funds to support student5 of families with limited
means to access education at the School. In 2019 the Foundation Committee made up of Governors and school
Staff launched a campaign to raise funds for 6, Form Transformational Bursaries. The bursaries are aimed at gir15
who have previously been in state edutation.
The Trustees are extremely grateful for the generosity which continues to enhance the School to the benefit of
the education which it provides.
Revolwng Credit Fticility
The School has entered Into a Revolving Credit Facility Agreement of £IOm over 25 years to assist with the funding
arrangements of the new 6, Form Centre and future developments. As at 31 August 2022 the available facllity
had reduced to £9,2C(J,000 with £1,600,000 drawn upon.
17

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT {contSnued)
FOR THE YEAR ENDED 31 AUGUST 2022
FINANCIAL REVIEW AND RESULTS FOR THE YEAR (continued)
Reserve5 Policy
The School's Unrestricted Funds Stood at £27,581,766 including designated funds of £1,241.525 12021..
£23,942,855J. After deducting the carrying value of tangible fixed assets held for the charity'5 own use and
designated fund, there were negative reserves of £4.659,481. Significant investment in fixed assets in recent years
has resulted in negative free reserve5.
Inve5tmentpolicy and objertlves
The School has three investment requirements..
Short-term cash. Surplus cash is off-set against the revolving bank facility to reduce interest payments.
Donations held against the cost of development projects. By agreement with donors, amounts provided
for the costs of projects are placed on deposit until they are spent.
The Trustees have a long-term investment horizon for the investment portfolio. Asset5 are selerted for
their total return, and to this end the predominant holdings are investments Wlth equity characteristics.
with low management charges and medium to low risk.
bl
PRINCIPAL RISK5 AND UNCERTAINTIES
It is the policy and practice of the Trust to assess and manage risk. A document identifying the general risks of the
School has been compiled and is regularly reviewed. Papers identifying the specific risks associated with the
building development plan and capital investment are prepared before decisions are made. A comprehensive
range of insurances is in place and reviewed annually. Health and Safety risk assessments are conducted in relation
to the workplace, teaching, student visits and staff. and reported to the Governing Body termly.
Through these proce55es, the major risks to which the Trust is exposed. as identified by the Governor5, have been
reviewed and systems or procedures have been established to manage those risks.
The Governors consider that the major risks to which the Trust is currently exposed include:
A challenging and uncertain economic outlook with intreased inflation and higher interest rates and in
particular high cost of gas and electricity resulting from global issues and in particular the war in Ukraine.
Uncontrollable cost increases arising from higher pension contributions and loss of charitable business
rates relief.
Other challenges arising from changes in Government policy.
Competition from both independent and state schools for pupils, particularly for the 6, form years.
Failing to move the School forwards to maintain our competitive advantage.
Increasing legislation and the need for rigorous compliance processe5.
The key controls to mitigate these risks include=
Proattive work of Governor Committees, including financial modelling for potential future scenarios.
Ensuring that the School does not over-reach itself in its financial commitments.
Monitoring the financial health of the parent body and detailed scrutiny of impact of fee increases
through debtor management and bursary policy.
18

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST2022
Marketing the School offer effectively in conjunction with improvement in facilities and continuing high
levels of performance.
Involvement in sector-wide representation of the posltive contribution that independent schools make
to the wider community.
Governor led Governance Committee reviews the implementation of rigorous compliance processes in
the School and ensures that appropriate policies and staff training are in place and that professional
advice is obtained when required.
CHARITY FUNDS
Unrestricted Fund5
Unrestricted Funds represent the income and expenditure from the School's normal operating activitie5 and other
assets available without restriction.
Desiqnated Funds
During the year the School transferred an amount representing 5% of gross fee income, investments income,
donation received from the restrirted funds to a Designated Bursary Fund. This is detailed further in note 16.
RestriTrted Funds
Restricted Funds represent resources provided for specific purposes.
See notes 1Sal to 15cl for a further breakdown of these.
FUTURE PLANS
The main focus for the next academic year will be..
Continuation of exceptional provision of teaching and learning to allow students to achieve high grades
at GCSE and A Levels and gain entrance to further education and employment of choice.
Completion of the new 6, Form Centre and move in by January 2023.
To plan and implement the optimum use of the building space freed up in the main school On￿ the new
6, Form Centre is fully operational.
Recruitment and retention of future 6 Form students including provision of targeted STEM bursaries.
To continue to develop our partnerships with local maintained schools.
To extend the scope of our work in partnership with Abingdon School, particularly in extra-curricular
provision.
To develop more intuitive systems of homelschool communication in response to feedback from parents.
To continue to build on work undertaken last year on Equality. Diversity and Inclusion.
To continue to build on the sustainability of school practices.
19

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
GOVERNORS, REPORT Icontinuedl
FOR THE YEAR ENDED 31 AUGUST 2022
STATEMENT OF GOVERNORS, RESPONSIBILITIES
The Governors (who are also directors of The School of St Helen and St Katharine Trust for the purposes of
company lawl are responsible for preparing the Governors, Report incorporating the Strategic Report and the
financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards).
Company law requires the Governors to prepare financial statements for each financial period. Under company
law the Governors must not approve the financial statements unless they are sat15fied that they give a true and
fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources, including the income and experTrditure, of the charitable company for that period. In preparing these
financial statements, the governors are required to:
select suitable accounting policies and then apply them consistently-
obsetve the methods and principles in the Charities SORP-
make judgments and estimates that are reasonable and prudent:
state whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless It is inappropriate to presume that
the charitable company will continue in business.
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitable company's transactions, disclose with reasonable accuracy at any time the financial position of the
charitable company and group and enable them to ensure that the financial statements comply with the
Companies Act 2006 and the provisions of the Charity's constitution. They are also responsible for safeguarding
the assets of the charitable company and hence for taking reasonable steps for the prevention an(J detection of
fraud and other irregularities.
PROVISION OF INFORMATION TO AUDITORS
Each of the persons who are Governors at the time when this Governors, Report is approved, has confirmed
that:
So far as that Governor is aware, there is no relevant audit information of which the School'5 auditors
are unaware, and
That Governor has taken all the steps that ought to have been taken as a Governor in order to be aware
of any information needed by the School's auditors in connection with preparing their report and to
establish that the School's auditors are aware of that information.
Governors, Report. incorporating a Strategic Report. approved by the Board of Governors on 28 November 2022
nd signed on its tsehalf by-.
Kevan Paul Leggett
CHAIR
20

INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS OF THE SCHOOL OF ST HELEN AND ST KATHARINETRUST
Oplnlon
We have audited the financial statements of The School of St Helen and St Katherine Trust for the year ended 31
August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement
and notes to the financial statements, including a summary of significant 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 Firtanciol Reporting StondL7rd opplicuble 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 31 August 2022 and of its net
movement in funds, including the 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.
Basls for oplnion
We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII and applicable
law. Our responsibilities tjnder those standards are further described in the Auditorfs 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 ol the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirement5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Concluslons relatlng to going concern
In auditing the financial statements, we have concluded that the governors, 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 governors are responsible for the other information. The other information comprises the information
included in the Governors, Report. Our opinion on the financial statements does not cover the other information
and, except to the extent othenNise explicitly Stated in our report, we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, 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 the￿ is a material
mi55tatement in the financial statements or a material mi55tatement of the other information. 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.

INDEPENDENT AUOITOR'S REPORTTOTHE MEMBERS OF THE SCHOOL OF ST HELEN AND ST KATHARINE
TRUST {CONTINUEDI
Opinion5 on other matters prescribed by the Companies Art 2006
In our opinion, based on the work undertaken In the course of the audit..
the information given in the Governors, Report Iwhich incorporates the strategic report and the directors,
reportl for the financial year for which the financial statements are prepared is consistent with the
financial statements,. and
the Governors, Report Iwhich incorporates the strategic repoTt and the directors, ￿pOrt) has been
prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the
COL¢rse of the audit, we have not identified material misstatements in the Governors, Report Iwhich incorporates
the strategic report and the directors, report).
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been kept by the charitable company,. or
the charitable company's financial statements are not in agreement with the accounting records and
returns- or
certain disclosures of governor5, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Responsibilities of governors for the financial statements
As explained more fully in the governors, responsibilities statement. the governors Iwho are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fairview, and for such internal control as the governor5
detemiine is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to ffaud or error.
In preparing the financial statements, the governors are responsible for assessing the charitable company's ability
to continue as a going contern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unle55 the governors either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Audltor's responslbllltles for the audlt of the flnancial statements
Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free
from material misstatement, whether due to fraud or error,. and to issue an auditorfs 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 ISA5 IUKI will always detect a material misstatement when it exists. Misstatement5 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 decislons of users taken on the basls of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularlties,
including fraud. The extent to which our procedures are tapable of detectin8 irregularities, including fraud is
detailed below:
Based on our understanding of the charitable company and the environment in which it operates, we identified
that the principal risks of non-compliance with laws and regulations related to indèpendent school standard
regulation 2014, safeguarding regulation, health and safety requirements, GDPR, employment law, charity law and
we considered the extent to which non-compliance might have a material effect on the financial Statements.
22

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE SCHOOLOF ST HELEN AND ST KATHARINE
TRUST ICONTINUEDI
We also considered those laws and regulations that have a direct impact on the preparation of the financial
statements such as Companies Act 2006, the Charities Act 2011, the Statement of Recommended Practices for
Chorities ISORPI, and consider other fartor5 Such as payroll tax.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements
(including the risk of override of controls) and determined that the principal risks were related to improper
recognition of revenue and management bias in certain accounting estimates and judgements. Audit procedures
performed by the engagement team included..
Inspecting correspondence with regulators and tax authorities.
Discussions with management including consideration of known or suspected instances of non-compliance
with laws arTrd regulation and fraud;
Evaluating management's controls designed to prevent and detect irregularities,.
Identifying and testing journals, in particular journal entries posted with unusual account combinations,
postings by unusual users or with unusual descriptions. and
Challenging assumptions and judgements made by management in their critical accounting estimates and
challenge of the underlying assumptions.
Because of the Inherent limitations of an audit. there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements, as we will be less likely to become aware of instances of non-compllance. The risk is
also greater reg3rding irregularitie5 occurring due to fraud rather than error. as fraud involve5 intentional
concealment, forgery, collusion, omission or misrepresentation.
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.or
auditorsres
on5ibilitie5. This description fomis part of our
auditorfs report.
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 Atjditor'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.
Tra￿Y Young Isenior Statutory Auditor)
For and on behalf of Haysmacintyre LLP, Statutory Auditors
10 Queen Street Place
London
EC4R IAG
Date:
23

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
srATEMENT OF FINANCIAL ACTIVITIES (including an Income and expendlture account)
FOR THE YEAR ENDED 31 AUGusf 2022
Unrestricted
Funds
2022
Restricted
Funds
2022
Total
2022
Total
2021
Notes
INCOME FROM-
Charitable aclivltie5:
School fees receivable
Other educational income
12,752,155
1,402,593
12,752,155
1,402,593
11,761.921
919,256
other trading actlvltles
23.726
23,726
5,589
Investments:
Bank interest
Investment incorne
28
19,327
28
48,985
42
38.479
29,658
Donations and grants
11,658
11,658
129.059
Total Income
14,197,829
41,316
14,239.145
12.854.346
EXPENDITURE ON:
Ralslng funds:
Trading expenses
f1nance costs
6.902
11,824
6,902
11,824
26,494
104.355
Charltable attlvlty..
School grant making and operatin8 Costs
12,935,480
610,969
13,546,449
12,214.160
Total Expendiwre
12,954.206
610.969
13.565,175
12,345,009
Net income from operation
before investment gainslllossesl
1.243.623
1569,6531
673,970
509,337
Net gains/llossesl on investments
io
113,7121
121,0421
134,7541
260.554
New income before other
reco8nlsed galnslllossesl
1.229.911
1590,6951
639.216
769,891
Pension scheme actuarial gains
20
2.409,000
2.409.000
39,(IX)
MOVEMENTIN FUNDS
3,638.911
1590.6951
3,048.216
808,891
Funds brought forward
23,942,855
1,180,240
25,123,095
24.314,204
FUND5 CARRIED FORWARD
15. 16
27.581.766
589.545
28,171.311
25.123,095
All operations are continuing.
The Statement of Financial Activitie5 includes all 8ain5 and10sse5 reco8nised in the year.
The comparatlve Statement of Financial Activities is shown in Note 22.
The ac¢ompanyin8 notes form part of these financial statements.
24

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
Cornpany Number.. 01710695
BALANCE SHEET
ASAT31AUGUST2022
2022
2021
Note
FIXED ASSETS
Tangible assets
Investment5
30.999.722
1.448,867
26,090.049
1,483,621
io
32,448,589
27,573,670
CURRENT ASSET5
Sttstks
Debtors
Cash at bank and in hand
li
12
14,384
316,211
1,757,653
294.627
361,762
656,389
2,088,248
CREDITORS- amounts falling due
within one year
13
12,422.3671
11.422.073)
NET CURRENT ASSETS
11,765,978)
666,175
TOTAL ASSEfs LE55 CURRENT
LIABILITIES
30,682,611
28,239.845
CRED￿oR5. amounts falllng due
after more than one year
14
12.044.300)
1355,7501
TOTAL NET ASSETS BEFORE
PENSION DEFICIT
28,638,311
27,884,095
Pension scheme deficit
20
1467.0001
12,761,000)
TOTAL NET ASSEfs A￿ER
PENSION DEFICIT
28,171,311
25,123,095
RESTRICTED FUNDS
15al
589,545
1.180,240
UNRESTRICTED FUNDS
General fund5
Less.. Pension reserve
Deslgnated bursary fund
26.807.241
1467,0001
1,241.525
26,110,426
12,761,ODOI
593,429
20
Net unrestricted funds
16
27.581,766
23.942.855
TOTAL FUNDS
17
28,171.311
25,123,095
The financial statements were approved and authorised for issue by the Board of Governors on 28 November 2022 and
were signed below on its behalf by..
Leggett
Governor
The accompanying notes form part of these financial statements.
25

THE SCHOOLOF ST HELEN ANDSTKATHARINETRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Cash flows from operatlng attivities
Net income before investment losses
Non-operating cash flow eliminated..
Interest received
Interest payable
Investment incorne
Depreciation char8es
Decrease in stock
Iincreaselldecrease in debtors
IDecreasel/increase in creditor5
Loss on fixed 3s5et disposal
Pension fund non cash movement
673,970
509,337
1281
11.824
148,9851
911,264
14,384
21,584
1,088,844
1421
14,395
138,4791
918,059
5,683
19.9391
1153,8521
21.416
103,000
115,000
Net cash provided by operatlng actlvittes
2,787,857
1.369.579
Cash flows from In￿$ting activities
Investment income
Interest received
Purchase of tan8ible fixed assets
48,985
28
15,820,937)
38,479
42
1696,1821
Net cash used In Investlng actlvities
15,771,924)
1657.6611
Cash flows from financin8 activtties
Interest paid
New loan
111,8241
1.600.LX)O
114.3951
Net cash used In flnancing acttvities
1,588,176
114,3951
Movement In cash
11,395.8911
697,523
Cash and cash equivalent5 at the beginning of
the year
1,757,653
1,060,130
Cash and cash equlvalènts at the end of the
year
361.762
1,757,653
Analysis of changes In net debt
At start of year
Cash-flows
Other
movements
At end ot
year
Cash
1,757.653
11,395,8911
361,762
Total
1,757.653
11.395.891)
361.762
26

THE SCHOOLOF ST HELEN AND ST KATHARINETRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
ACCOUNTING POLICIES
Accountlng Conventlon
The financial statements have been prepared in accordan￿ with the Financlal Reporting Standard applicable in the
UK IFRS 1021, the Companies Acr 2006 and the Statement of Recommended Prattice applicable to charities preparing
their accounts in accordance with the Flnancial Reporting Standard applicable in the UK IF￿ 1021- Second Edition
effective l January 2019.
The School is a company limited by guarantee, incorporated In England and Wales (Company number.. 017106951 and
a charity registered in England and Wales (charity number.. 2868921. The Charity's Tegistered office address is..
Farringdon Road. Abingdon. Oxfordshire. OX14 IBE.
The functional currency of the School is considered to be GBP because that is the currency of the prlmary economic
envlronment in which the School operates.
The accounts of HK Activities have not been corssolidèted with those of the company as the Governors consider that
the arnounts involved are not material, and the company is dormant.
bl
Golng concern
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 to continue Its activities forthe foreseeable future. Accordingly, they continue to adopt the going
concern basis.
Income
Income is accounted for on a receivable basis.
Fee income represents the invoiced amount ol school fees receivable after deducting allowancès, scholarships and
other remissions granted by the school. Adjustments have been made to defer invoiced fees relating to the
Michaelmas term, which commences in the next financial period to ensure that no incorne relating to the next
financial period is included in these financial Statements. Any payments received relating to this term have been
treated a5 fee5 in advance under creditors.
dl
Donatlons
Donations are accounted for as and when entTtlernent arises, the amount can be reliably quantified and the economic
benefit to the School 15 considered probable. Donations towards the general purposes of the School are credited to
'Unrestricted Funds, in the Statement of Financial Activities on a receivable basis. Donations for purposes restricted
by the wishes of the donor are taken to "Restricted Funds" on the same basis. Where there are donor-imposed
restrictions as to the timing of the related èxpenditure, reco8nitlOn 15 deferred until any pre-condition has been met.
Government grant income
Government grant income represents the total amount claimed from HM Revenue and Customs under the
Coronavirus Job Retention Scheme IORSI. Thè income is 8ccounted for in the period in wh5ch the associated salary
payments are made to furloughed staff
27

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THEYEAR ENDE031 AUGUST2022
ACCOUNTING POLICIES Icontlnuedl
Expendtture
Expendtture is accounted for on an accruals basis as soon as a liability is considered probable. Expendlture which is
not directly attributable to a particular functional activity is apportioned on the basis of appropriate management
estimates le.g. staff time or space occupied) to activities in the year. The irrecoverable element of VAT is included
with the item of expense to which it relate5.
Governance costs comprlse the cost of running the School, including external audit. Governorg legal advi￿ and
constitutional ènd statutory cornpliance costs and are included within support costs.
rixed a55ets and depreciatlon
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful
economic life of that asset as follows'.-
Freehold buildings and building alterations
Computer ènd electrical equiprnent
Furniturè and equipment
Motor vehicle5
-2%-24%
- 33.3%- 50%
-7%-10%
25% reducing balan
Freèhold land and a55et5 under construction are not depreciated.
Indlvidual Items Costing more than £l,CM)O that will last until they are fulty depreciated are capitalised and Carried in
the balance sheet at histo¥ical cost.
h)
Investments
Listed investments are valued at the bid price. Unreali5ed and realised 8ain5 or losses as shown in the Statement of
Financial Activities are creditèd or debitèd to the relevant fund. Income from investments 15 accounted for in the
year to which it relate5.
Stock5
Stocks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow-
moving items.
Financial Instrumènts
Basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and
other account5 receivable and payable are accounted for on the following basis..
Cash tind cash equivolents
Cash and cash equivalents includes cash in hand, dep051ts held at banks, other short-teirn hiBhly liquid investments
with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown
wlthln current Ilabilitie5.
Debtors tsnd creditors
Debtors and creditors are measured at the transactlon pri￿ less any provision for impairment. Any losse5 arising
from impairment are recognlsed as expenditure.
8onk borrowings
Liabilities for borrowings which are subject to a market rate of interest are measured at the value of the amount
advanced, less capital repayments.
28

THE SCHOOLOF ST HÉLEN AND sr KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED31AUGUST2022
ACCOUNTING POLICIES Icontlnuedl
kl
Fund accounting
Restricted Funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes Is
charged to the fund, together with a fair allocation of overhead5 and support costs. When buildings are completed
funds are transferred from Restricted to Unrestricted a5 the restriction on the donation has been fulfilled.
Unrestricted Funds are donations and other Income reeeived or generated for expenditure on the general objectives
of the School.
Designated Funds are unrestricted funds of the School whlch the Governors have dècided at thelr dlscretion to set
aside to use for a specific purpose.
Pension
The School contributes to the Teacher< Pension defined benefits scheme at rates set by the Scheme Actuary and
advised to the Board by the Scheme Administrator. The scheme is a multi-employer pension scheme and it is not
possible to identify the assets and liabilities of the scherne which are attributable to the School. In accordance with
FRS102 therefore. the scheme is accounted for as a defined contribution scheme. The School'5 contributions are
charged in the year in which the salaries to which they relate are payable.
The Sehool also contribute5 to The Royal County of Berkshire Pension Fund, which operates within the Local
Governmènt Pension Scheme, providin8 defined benefits for its eligible non-teaching staff. This 5cherne was closed
to new members on I january 2007. This scheme is accounted for in accordance with FRS 102.
The defined benefit pension scheme current service costs are charged to the Statement of Financial Activities within
staff cost5. The expected return on the scheme assets less the scheme interest costs are credited within other
interest. The scheme actuarial gains and losses are recognlsed immediately as other recognised gains and105ses.
The defined benefit scheme assets are measured at fair value at the balance sheet date. Scheme liabilitie5 are
measured on an actuarial basi5 at the balance sheet date using the projected unit rnethod and discounted at a rate
equivalent to the turrènt rate of return on a hi8h quality corporate bond of equivalent terrn to the5cheme liabilities.
The resultlng defined benefjt asset or liability is presented separately after other net assets on the face of the balan
sheet.
Those not elisible for this Scheme are eligible to be included in the Schools Stakeholder 5cherne, which is a deflned
contribution scheme. The School's contributions are charged in the year in which the salaries to which they relate
are payable.
Operating leases
Rentals under operating lease5 are charged on a 5traight-line basi5 over the lease term, even If the payments are not
made on such a basis. Benefit5 received and receivable as an incentive to 518n an operating lease are similarly spiead
on a straight-line basis over the lease term.
Slgnlffcant Sudgements and Èstimatès
The School makès èstlfflates and assumptions concerning the future. The resultlng accountin8 estimates and
a$5umptions will, by definition, seldom equal the related actual result5. The estimates and a5SUrnPtions that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year are discussed below.
The present value of the Local Government Pension Scheme deflned benefit Ilabillty depends on a number of factors
that are determined on an actuarial ba51S Using a variety of assumptions. The assumptions used in determinine the
net cost lincornel for pensions include the discount rate. Any changes in these a55umption5, which are disclosed in
note 20, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects
results from the latest full attuarial valuation performed at 31 March 2019 has been used by the actuary in valuing
the pensions liability at 31 August 2022. Any differentes between the figures derived from the roll forward approach
and a full attUaTial valuation would impact on the carryin8 amount of the pen5i0n liabilitv.
29

ThE SCHOOLOFSTHELEN AND sfKATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED31 AUGUST2022
SCHOOL FEES
2022
2021
The School's fee income comprised..
Gross fees
Less.. Scholarships and bursarles
12,849,613
1662.6731
11,868,580
1633.4981
12.186,940
11,235,082
Add back.. Bursaries paid for by Restrlcted funds
565,215
526,839
12,752,155
11.761.921
OTHER EDUCATIONAL INCOME
2022
2021
SHSK Soclety
Reglstration fees
Extras
Music facilities charges
Coaches to and from school and other transporl charges
School trips
Tuck shoplsecond hand shop
Events
Other ancillary income
16,584
42.678
222,446
25,504
649,961
378,500
23,583
12,709
30,628
16,516
36,300
175,114
18,984
532,621
117.627
12.966
3.127
6,001
1.402.593
919,256
OTHER TRADING A￿1VITIEs
2022
2021
Lettin85
Surcharge on late bills
Other non-ancillary trading income
22.491
689
546
190
5.399
23.726
5,589
DONATIONS AND GRANTS
2022
2021
Donations
Coronavirus lob Retention Scheme grants
11.658
21,450
107,609
11,658
129.059
30

THE SCHOOL OF ST HELEN ANDST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31 AUGUST 2022
TOTAL EXPENDITURE 2022
staff costs
Other
Depreciation
2022
Charltable actlvSty
Teaching costs
Welfare costs
Premise5 Costs
Support costs
6,160.325
407.868
508,396
1,027,437
1.157,463
471,361
964,922
1,372,196
86,684
7,404.472
879,229
2,297,898
2,399,633
824,580
8,104.026
3,965,943
565,217
911,264
12.981,232
565,217
Grants awards and prizes
8,104,026
4,531.160
911,264
13,546,449
Rarsing funds
Trading expenses
Finance costs & other
6,902
11,824
6.902
11.824
Total expendlture
8,104,026
4,549,886
911.264
13,565.175
Governance Included In support cost5:
Auditors remuneration
Accounting costs
Other governance costs
21,180
9,065
30,245
TOTAL EXPENDITURE 2021
stsff costs
Other
DeprÈciation
2021
Charitable activity
Teaching tosts
Welfare costs
Premises costs
Support costs
6.077.742
363,685
491,318
1,160,635
836,449
256,453
711.126
871,854
89,436
7,003,627
620,138
2,031,067
2,032.489
828,623
8.093.380
2.675.882
526,839
918,059
11.687.321
526,839
Grants award5 and prizes
8,093,380
3,202,721
918.059
12.214,160
Raising funds
Trading expenses
Finance costs
26.494
104,355
26.494
104,355
Total expenditure
8,093,380
3,333,570
918.059
12,345,009
Governance ift¢luded In 5UPPOrt costs:
Audilors remuneration
Accounting costs
Other governanee costs
19,740
1,770
19.305
40,815

THE SCHOOL OF ￿ HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED31 AUGUST2022
NET INCOME
2022
2021
Net Income Is stated after charging..
Depreciation
owned assets
Auditois, remuneration
audit services
Auditor5, remuneration
non-audit services
Operating leases
other
Interest on bank loans and ovèrdrafts
911.264
21,180
918,059
19,740
1,770
69.985
14,395
67,077
12,413
STAFF COSTS
2022
2021
Wages and salaries
Soclal security costs
Other pension costs
6.331.513
656.610
1,115,903
6.329,770
606,263
1,157,347
8,104,026
8,093.380
The average number of employees in the year were:
Teaching arld te3chin8 SUPPOrt
Welfare & premise5
Support
142
41
29
42
26
216
212
2022
2021
The following number of employees exceeded £60.000 in emoluments-
£60,001- £70,000
£70,001- £80,000
£80.001- £90.000
£150,001- £160.000
£160.001- £170,000
Their retirement benefits are accrulng under both the Defined Benefit Pension Schemes and the stakeholder scheme.
Total remuneration of key management personnel for the year ended 31 August 2022 wa5 £585,54212021.. E796,4131.
During ihe year there were redundancy or terminatlon payments made whlch amounted to £3.50012021'. £80,997).
There was £Nil outstanding at the year end12021.. £65,000).
None of the Governors received remuneralions or other benefits for their voluntary Services in the year. No expenses
were reSmbursed to Governors in the year12021-. Nill.
32

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDE031 AUGUST2022
TANGIBLE FIXED ASSETS
Freehold
land and
buildings
Assets under
course of
construction
Computer51
elertri￿1
equipment
Furniture
and
equipment
Motor
Vehiclè5
Total
C05t
At I September 2021
Additions
32,080,726
528.457
5.545,906
1,147,216
116,922
2,285.323
158,109
43,039
36,084,761
5,820.937
At 31 August 2022
32.080.726
6,074,363
1,264,138
2,443.432
43,039
41,905,698
Depreciation
At I September 2021
Charge for the year
7,583,209
644,240
1,037,957
86,684
1,367,552
171,078
5,994
9,262
9,994,712
911,264
At 31 August 2022
8,227.449
1,124.641
1.538.630
15,256
10,905.976
Net book value
At 31 August 2022
23,853,277
6,074,363
139,497
904,802
27,783
30,999,722
At 31 August 2021
24,497,517
528.457
109,259
917.771
37.045
26,090,049
All the fixed assets are used for direct d)aritable purposes.
10. FIXED ASSET INVESTMENTS
Direct investments in listed securitles
Market value
As at I September 2021
Unrealised loss
1,483,621
134,7541
As at 31 Au8USt 2022
1,448.867
33

TrIE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR ENDED 31 AUGUST2022
io.
FIXED ASSET INVESTMENTS Icontinuedl
SUBSIDIARIES
School of St Helen and St Katherine Foundation
In the year ended 31 Au8USt 2018 the Foundation donated its entire fund balances totalling £1,304,806 to the School.
The transfer comprised investments of £1.299.673, and net current assets of £5.133 including cash of £46,282. The
funds retain their original restrictions within the School. The Foundatlon was dormant for the year ended 31 August
2022.
HK Activmles Llmlted
In the year ended 31 August 2022 HK Activities Limited was dormant.
11, STOCKS
2022
2021
Raw consumables and equipment for sale
14,384
12. DEBTORS
2022
2021
Due wlthln onè year
Trade debtors
other debtors
Prepayments
75,662
40,308
178,657
67,415
1,890
246.906
294.627
316.211
13. CREDITORS.. amounts falling due wlthln one
year
2022
2021
Trade creditor5
Taxation and social securitv
1,187,693
154.510
518.183
984
691,532
18,125
193.249
Fees received in advance and deposits
other crediiors
Accruals and deferred income
658,828
29,490
391,846
2,422,367
1,422,073
Fees In advance
Balance as at I September 2021
Fees deferred in the year
Released in the year
284,504
55,900
1284.5041
557.492
284.504
1557,4921
Fees In advance as at 31 August 2022
55,900
284,504
Parents may pay fees for the following school year before the current financial year end, these are treated as deferred
income. There is no other deferred income.
34

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THEYEAR ENDE031 AUGUST2022
14 CREDITORS- amounts falling due after more
than one year
2022
2021
Deposits
Bank loan
444,300
1,600,000
355.750
2.044,300
355,750
15al RESTRicfED FUNOS- 2022
I September
2021
Investment
GalnsllLossesl
31 August
2022
Income
E¥pendlture
Transfers
Fund Name
Acworth Scholarships
YPH Building Fund
6, Form Wynn Bursary
6, Forrn De Saulles Bursary
sister Jean 8enedScE Fund
Jean Duffleld History Prize
St Helen and St Katharine
Foundation Fund
Girona Bursary
3,527
13,5271
144,7521
45.631
55,000
31,796
14,516
24,675
879
55.000
15.898
14.645
23,675
115,8981
444
13151
(1.0001
944.005
64.617
35,211
2,134
1539.4971
16,2951
119,2131
11.5141
420,506
58,942
1,180.240
41,316
1610,9691
121.0421
589,545
Isbl
RÉSTRICYED FUNDS- Z021
I September
2019
Investrnent
GainsllL055esl
31 August
2021
Income
Expenditure
Transfers
Fund Name
YPH Building Fund
Acworth Scholarships
Old Girls Fund
6th Form Bursary
61h Forrn Wynn Bursary
6, Form De Saulles Bursary
Leavers, Bursaries
Sister Jean Benedict Fund
Jean Duffield History Prize
St Helen and St Katharine
Foundation Fund
Glrona Bursary
45,631
45,631
3,626
13.6261
12,8181
11,0001
2,818
1,000
55,000
46,250
7,931
10,756
24,675
ss,000
31,796
114,4541
17,9311
1.154
2.606
14,516
24,675
1,147,295
58,146
43,183
2,560
1492,1751
18,3351
245,702
12,246
944,IX)5
64.617
1.399,502
50.523
1530.3391
260,554
1,180,240
35

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31 AUGUST 2022
15¢)
FUNDS DESCRIPTION
YPH Building Fund
Residual funds left over from the Library build have been designated by the donor to be applied to
enhancement works of the YPH.
Sister Jean Benedict Fund
This money was donated to the Foundation by the Sister Jean Benedict Trust. The income is to be spent at the
Headmistres5' discretion.
Jean Duffield Hlstory Prlze Fund
This is money that has been donated to the Foundation and School and 15 to be used to 5UPPOrt thejean Duffleld
History Prize.
St Helen and St Katharlne Foundation Fund
This is money that h35 been donated to promote and provide for and to further the education of person5 in
the United Kingdom and elsewhere who are students, potential students or past students of The School of St
Helen and St Katharine. All bursaries, apart from those eligible for other nominated restrirted funds, are
charged to this fund which in due course will be exhausted.
Acworth Scholarship Fund
The Acworth Foundation 15 based in America. The Foundation contributes bursary funds towards the fees of
two girls, each to the value of USSS,000 per annum.
Girona Bursary
This is money that has been donated forthe provision of bursaries, to be awarded to one or more girls gifted in
maths, to enable them to attend the School. who due to their family's financial circumstances, would not
otherwise be able to do so.
Leavers, Bursary Fund
The parents of pupils who are leaving the School, doriate the Ltnu5ed portion of their deposit to fund one or
ore bursaries, to give some financial support to girls through 6, Form where otherwise they v40uld not be
able to continue their education due to their family's financial circumstances.
Old Girls Fund
The SHSKOGA Trust (Charity 1135821 closed and passed its remaining fund to the School.
6th Form Wynn Bursary
Donations have been received for the Mark Wynn Bursary, to provide a transformatlonal bursary to a student
wishing to study Chemistry and one other STEM 5ubjert at A Level. The bursary will be means tested and to
qualify for this award, the student must have previously studied in a state school.
6 Fomi De Saulles Bursary
Donations have been received for the Joanna de Saulle5 Bursary to provide a transformational bursary to a
student W15hing to study Economics at A Level. The bursary will be mean5 tested and to qualify for this award,
the student must have previously studied in a State School.
6th Form Bursary
Money is being raised to provide two transformational bursaries in the 6th Form for students who have
previously studied in a state school. These will be subject specrfic and means tested. The David Ireland Bursary
for Mathematics and/or Physics and the Gabrielle Kingaby Bursary for Computer Scien￿.
36

THE SCHOOL OF STHELEN AND SY KATHARINETRUST
NOTES TO THE FINANCIAL STATEMENTS {continuedl
FOR THE YEAR ENDED 31 AUGUST 2022
16.
UNRESTRICTED FUNDS 2022
Investment
and pension
Bainslllossesl
1 September
2021
31 August
2022
Income
Expenditure
Transfers
General reserve
Designated Bursary fund
23,349,426 14,178.502 112,954,206)
593.429
19,327
2,409,000
113.7121
1642,4811 26.340,241
642.481
1.241,525
23,942,855
14,197,829 1112.954.2061
2,395,288
27.581,766
Designated Bursary Fund
With effect from I September 2021, the School transfers 5% of gross fees to a Designated Bursary fund. The fund will
3ccumulate until the SHSK Foundation furld has been exhausted, after which it wlll be used for all bursaries apart
from those eligible for other nominated restricted funds.
UNREsTRI￿EO FUNDS 2021
Pension
scheme
actuarSal
gain
1 September
2020
31 August
2021
In¢ome
Expenditure
Transfers
General reserve
Designated Bursary fund
22,914,702
12,803,823 111.814,6701
39,000
1593,4291 23.349,426
593,429
593,429
22,914,702
12,803,823 111,814,670)
39,000
23,942,855
17.
ANALYSIS OF ASSETS BETWEEN FUNDS
Lon8 term
Balance at
31 August
2022
Tanglble
Flxed Assets
Net current
Assets
and Pensions
Deflclt
Investments
General reserves
Designated bursary fund5
30,999,722
12.148,1811
8,084
12.511,3001
26.340,241
1.241,525
1.233,441
Restrirted funds
YPH Building Fund
Jean Duffield History Prize
6 Form Wynn Bursary
6, Form De Saulle5 Bursary
Sisterjean Benedict Fund
St Helen and St Katharine
Foundation Fund
Girona 8urs3ry
879
23.675
55,000
15,898
1,050
879
23,675
55,000
15,898
14,645
13,595
142,889
58.942
277,617
420,506
58,942
Total funds
30,999,722
1,448,867
11,765,978)
12,511.3001
28,171.311
37

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31 AUGUST 2022
ANALYSIS OF NET ASSETS BETWEEN FUNDS Icontinuèdl
Long term
Balance at
31 August
2021
Tangible
Fixed Assets
Net current and Pension5
*1sset5
Deficlt
Invèstménts
Genèral reserve5
Desi8nated bursary funds
26.090.049
376,127
8.083
13.116.750) 23.349.426
593,429
585,346
Re5trirted funds
YPH Building Fund
Jean Duffield History Prize
6 Form Wynn Bursary
6, Form De Saulles Bursary
Sister Jean Benedirt Fund
St Helen and St Katharine
Foundation Fund
45,631
24.675
55,000
31,796
1,050
45,631
24,675
55,000
31,796
14,516
13,466
820,192
64,617
123.813
944,005
64.617
Girona Bursary
Total funds
26,090,049
1,483,621
666,175
13,116,750) 25,123,095
18.
CONTRACTS AND COMMITMENTS
2022
2021
The following capital commitrnents existed at the year end
Committed but not provided
2,752,760
6,778,925
19.
LEASING Comm￿MENTs
2022
2021
The future minimum lease payments under non-cancellable operating leases..
Within ¢)ne year
Between one and two years
Between two and five years
41,046
17,254
1.015
69,984
41,046
18,269
The above leases are for computers and office equipment.
38

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS (continu￿)
FOR THE YEAR ENDED31 AUGUST2022
20.
PENSION COSTS
TeachSn
Staff - Defin
me
The School participates in the Teachers. Pension Scheme 1.the TPS") for its teaching staff. The pension charge for the year
includes contributions payable to the TPS of £900,30812021: £9￿,308) and at the yeai-end £Nil12021.' £Nil was accrued in
respect of contributions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers, Pensions Regulations
2010 las amended) and The Teachers, Pension Scheme Regulations 2014 las amended). Member5 contribute on a "pay as you
go~ basis with contribution5 from members and the employer being credited to the Exchequer. Retirement and other pension
benefi15 are paid by public funds provided by Parliament.
The employer contribution Tate is set by the Secretary of State following scheme valuations undertaken by the Government
Actuary's Oepartment. The most recent actuarial valuation of the TPS was prepared as at 31 March 2016 and the Valuation
Report, which was published in March 2Q19, confirmed that the employer contribution rate for the TPS would incTe35e from
16.4% to 23.6% from I September 2019. Ernployer5 are also required to pay a scheme administratlon levy of 0.08% 8rving a
total employer contribution rate of 23.68%.
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and
under the approach Specified in the Directions. as they applied at 5 March 2019. However, the assumptions were consrdered
and set by the Department for Education prior to the ruling in the'McCloud/Sargeant case, This case has required the courts
to consider cases regardinE the implementation of the 2015 reforms to Public Service Pensions including the Teachers,
Pensions.
On 27 lune 2019 the Supreme Coun denled the government perrni55ion to appeal the Court of Appeal's judgment that
transitional provisions introduced to the reformed pension schemes in 2015 gave rise to unlawful age discrimination. The
government is respecting the Court's decision and has said it will engage fully with the Employment Tribunal a5 well as
employer and member repre5entative5 to agree how the discriminations will be remedied. The government announced on 4
February 2021 that it intends to proceed with a deferred choice underpin Ltnder which members will be able to choose either
legacy or reformed scheme benefits in respect of their service during the period between l April 2015 and 31 March 2022 at
the point thèy become payable.
The TPS is subject to a cost cap rnechanism which wa5 Put in place to protect taxpayers against unforeseen changes in scheme
COSts. The Chief Secretaryto the Treasury, having in 2018 announced that there would be a review of thi5 Cost cap mechanism,
rn January 2019 announced a pause to the cost cap mechanism followlng the Court of Appeal's ruling in the Mccloudlsargeant
ase and until there is certainty about the value of penslons to employees from April 2015 onwards. The pause was lifted in
July 2020, and a consultation was launched on 24 lyne on proposed changes to the cost control mechanism followin8 a review
by the Government Actuary. Following a public consultation, the Government have accepted three key proposals
recommended by thè Governrnent Actuary, and are aiming to implement these changes in time for the 2020 valuations.
The 2016 cost control valuations have Sin￿ been completed in January 2022. and the results indicated that there would be
no changes to benefits or member contributions required. The results of the cost cap valuation are not Used to set the
employer contributlon rate, and HM Treasury has confirmed that any changes to the employer contribution rate resulting
from thè 2020 valuations will take effect in April 2024.
Until the 2020 valuation is completed It Is not possible to conclude on any financial impact or future changes to the
contribution rates of the TPS. Accordingly, no provision for any additional past benefit pension costs is included in these
financial statements.
Non-teachin
staff - defined benefit schemés
Church of England Funded Pension Scherne-The Church of England Funded Pension Scheme is a defined benefit scheme with
only one member at the School, with a liability at 31 December 2019 of £5,000. The Royal County of Berkshire Pension Fund
The School also contributes to The Royal County of Berkshire Pension Fund, which operates within the Local Government
Pension Scheme, providlng defined beneflts for its non-teaching staff. In 2007 the School closed this schemeto new members.
39

THE SCHOOL OF ST HELEN AND ST KATHARINETRUST
NOTES TO THE FINANCIAi STATEMENTS Icontiftuedl
FOR THE YEAR ENDED 31 AUGUST 2022
rhe latest triennial valuation of the Royal County of Berkshire Pension Fund wa5 dated 31 March 2019.
20.
PENSION COSTS Icontinuedl
At the year-end £87112021.. £9841 of contributions were outstanding.
Prln(ipal Actuarial Assumption
2022
2021
Pension increase rate
Salary increase rate
CPI increase rate
Discount rate
3.17%
4.10%
3.10%
4.25%
2.90%
3.90%
2.90%
1.65%
The current mortality assumptions include sufficient allowance for future improvements in mortallty rates. The
assumed life expectations on retirement age 65 are:
2022
Years
2021
Years
Retiring todoy
Males
Females
RetirNng in 20 years
Males
Females
21.0
23.8
21.3
24.0
22.3
25.3
22.6
25.4
Changes In the present Value of the definèd benefit obligation are 35 follows:
2022
eooo
2021
rooo
Deficit at the beginning of the year
Current service cost
Contribution
Other finance costs
Administration expenses
Aetuari31 gain/llossl
12,7611
11281
62
1451
12,6971
11281
70
1421
2,409
39
Deficit at the end of the year
14671
12,7611
Changes in the fair value of the scheme 355ets are a5 follows:
2022
£'ooo
2021
£'ooo
Opening fair value of scheme assets
Interest on assets
Return on assets less interest
Employer contributions
Employee contributions
Benefits paid
Adminlstration expenses
3,260
53
158
62
16
11431
2,960
45
309
70
17
11381
131
Fair value of scheme assets at the year end
3,402
3,260
40

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Itontinuedl
FOR THE YEAR ENDED 31 AUGUST 2022
20.
PENSION COSTS Icontinuedl
Changes In the falr value of the %heme liabilltles are as follo￿.
2022
£'ooo
2021
£'ooo
Opening defined benefit tsbligation
Servlce cost
Interest cost
Change in financial assumption
Experience gain
Estimated benefits paid
Employee contribution
Change in dernographic assumptions
6,021
128
98
12.1901
5.657
128
87
442
iioii
11381
17
1711
11431
16
1691
Fair value of 5theme liabllltles at year end
3,869
6,021
The amounts included within the Statement of Financial Artivities are as follows..
Service ¢ost
Net interest
Administration expense5
128
45
128
42
Total amount charged to the Statement of Financlal Actlvities
177
173
Analysls of actuarial loss debited thè Statemènt of Financial Adtvities
Actuarial gainlllossl
2,409
39
The major categories of scheme asset5 as a percentage of total scheme assets are as follows-.
2022
2021
Equities
Other bonds
Propertv
Alternative assets
Cash
63
15
13
61
18
12
Experted return on assets
The overall expected rate of return on the scheme assets is determined based on the long-terrn fvture expected
investment return for each asset class at the beginninE of the year.
The return on 8ilt5 and other bonds are a55urned to be the gilt yield and corporate bond yield respect*vely at the relevant
date. The return on acquisitions and property is then assumed to be a margin above gilt yields.
41

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THEYEARENDED31 AUGUST2022
20.
PENSION COSTS Icontlnuedl
Projected penslon expense for the year to 31 August 2023
£'ooo
Service cost
Interest rate
Adrnini5tration expenses
62
19
Totsl
84
Employer contributions
67
These fi8ure5 exclude the capitalised cost of any early retirements or augmentations which may occur after 31 August 2022.
21.
RELATED PARTY TRANSACTIONS
There have been no related party transactions in the year or In the prior year.
42

THE SCHOOL OF ST HELEN AND ST KATHARINE TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEARENDED 31 AUGUST 2022
22. STATEMENT OF FINANCIAL AcfiviTIES- COMPARATIVE FIGURES BY FUND TYPE
Unrestricted
Funds
2021
Rèstrirted
Funds
2021
Total
2021
Notes
INCOME FROM:
Charltable artivlties:
School fees receivable
Other educational income
11,761,921
919,256
11.761,921
919,256
Other tradlng actlvities
5.589
5,589
Investments..
Bank interest
Investment income
42
42
38,479
38,479
Donations and grants
117,015
12.044
129,059
Total Incomè
12.803,823
50,523
12.854,346
EXPENDITURE ON:
Rai5in8 funds..
Trading expenses
Finance c05t5
26,494
104,355
26,494
104,355
Charitable activity:
School grant rnaking and operating costs
11,683,821
530,339
12.214,160
Total Expenditure
11,814,670
530.339
12,345,009
Net intome from operations
before transfers and investment losses
989,153
1479.8161
509.337
Net Ilosse511 gains on investments
io
260,554
260.554
Net Incomè before other reco8nised
gain5lllossesl
989,153
1219,2621
769.891
Pension scheme actuarial Ilossesll8ains
20
39.000
39,000
NET MOVEMENT IN FUNDS
1.028.153
1219,2621
808,891
Funds brought forward
22,914,702
1,399.502
24.314,204
FUND5 CARRIED FORWARD
15, 16
23.942,855
1,180,240
25.123,095
43