Reglsternd numb•r: 01840431 Charfty numb•r. 290180 ST MARYS SCHOOL CAMBRIDGE (A Company Llmlted by Guarantee) GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (A Company by Gu•r•nl••) CONTENTS Pog8 R0hrnnc• and Mmlnlltrath O•t•lls d th• sdmm￿. It• Govwnor• •Thd *AM••rn Gov•rnors' R•port 2-18 Indep•nd•nt Audltorn. R¥Jart on th• Stat•m 19-23 Consalld•l•d &*m•nt of FIn¥￿￿ Actmd 24 Con¥olldaled 8alanc• Sh••t 8th001 B•l*nc• Sh••t 27-28 Conw11dat￿ St•t•m•nt ol Cash Flo 29 ST MARfs SCHOOL CAMBRIDGE IA Company Umlt•d by Guarant••l REFERENCE AND ADM141STRATIVE DETAILS OF THE SCHOOL, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENOED 31 AUGUST 2024 Gov•mor8 Mr J p￿￿. Chair Mr V An￿&81 Ms J Chaffins (r8sw*d 20 2024) Ms K Daber Ms S Dixon IresKJned 27 Marth 20241 Mr R HayTr8s Dr A Holi Ir8s¥Jned 25 FeiKuwy 2025) Mr C Jones Ms J MackeTrzi8 (res*3￿1 18 June 2Q24) Ms S GI￿On Ms G Sinmonds Ms J Slorey (resigned 5 JLty 2024) Ms S Clawon lappointsd 5 December 2023. resign8d 13 No¥amb8r 2024) Ms H Femandes lappoint9d 18 Juno 2024) P4tr B Howdrth (ap￿Iftted 18 JU￿ 2024) Ms E Jones lappoknted 18 Jvne 2024) Mr K Ved (appointed 18 2024) Ms V TIK)ur(MMl814￿Thted 1 OcAober 2024) Company r•glst•r•d number 01840431 Chwlty rnglst•rnd numb•f 2￿180 R•glst•rnd oflk• Bateman Slreet CB2 1LY Cl•rk to tho Govwnorn M8 N Wrstyoft Company ￿CIalary S 8abar H•ad T￿¢1 C F Avery (resigrnd 16 Juty 2024) H Heuw (appoirrted 16 Juty 2024) Ind•pondent au&YloM Peter5 ElI￿rthY & StslutoryAudrtors Salisbury Hcws• Stallon Road C812LA Bank•TS Uowts Bank rdc Gonville P 95 Rag8nt Street Cambrvjge CB2 18Q Page I ST IA*AYE SCHOOL C￿•BRIDGE IA company Lkn11￿ by Gu¥•nt••l GOVERNORS. REPORT FOR THE YEPJI ENDEO 31 AUGUST 2024 Th8 Govamors, 8$ Trustees of St Marls School C￿nt￿l￿ge (the Schwll. present their annual report togeth8r with thé a￿lted finand81 State￿nts for the endlyj 31st August 2024. The financlal stalements hav8 b88n prepared in accordance wth the accountirvJ pclices $8t oul 2 lo the accounts. the Charfws goveming documents. the Chariles Act 2011, thg Conyani8s Acl 20(￿ aThJ the Accounting and Rep￿￿r￿j ty Charitss.. Statement of ReC￿nMended praCt￿e (SORP) aPpI￿able to chaTitiB8 weparing Ih8ir a￿Unts In accc*danc8 wrth the Flnancial Repryting Standard applic8b￿ in tho UK and Republlc of Ireland (FRS 102). Th8 roport 1$ ak prepared lo meet Ihe requwenwits for a D*ectors arKI s1rn1￿ rep(xtfor Companles Act purposes. AIMS AND OBJECTIVES Alms A5 5Ot OLrt in Its MemorwLdum of Asso(aatiM. the of St Marls Sthcd. Camb￿ge Is io promote and provlde for the advancement of educatx)n aThJ reIg￿n and In c(TherA*)n to acqura, provid8, conduct and d8velop a Roman Call¥￿￿ school or schools. for the advwKement of Ihe 8ducat*)n of thlldren of ary (ned. but partiC￿aty ¢hiklren of the Roman Cathok faith. partIc￿ar V￿QuI prejudice to th8 gener81ty of t going for tho 8ducati¢)n of girfs. In the fwtherance ol this object. the Gov9m￿S. as Charity Trustees, have complled wth thelr duty ￿der s17 of the Chorftios Act 2011 to have due ward lo the Charity Commission's To achlave this aim. St School Cambridge wides educat￿)n for girfs aged 3 to 19 yaars, aiming to create a cwing afKI stimulating Chrislian environmant wiihln vthlch pw)¥s can realise their Bpirilual. Intelleclual. creative, soclal. academic and phySIc￿ FK)tenlial through Compa￿10n. wlsdom and hwnour. ￿tidIng thelr sell- ObJ•thM for tho Y•ar The ¢)bigCtive5 for St Marls Sch(KA in 202>24 lo(x￿•￿ on Introd￿ arKI familiwisalkjn of the new statement of VisiM and Mlsskn and vth: Vbion: By Gorfs grace. *vmon t*) much (Mory Wwd 158&1645). MISSI￿. As a Chrisllan sthool, U￿rF￿ned ty our Cathok and Ihg of Mary Ward. OLf mission Is lo develop curiou5. creative and compassicffoto >￿n9 th*h th8 aspIra￿n. aInf￿ and Inlegrlty lo shapo a bgtter I￿r￿￿ for the common gwl. Values: Freedom. Love. Justicè. Truth ar#J Jryy. To t))ntin￿ to provlde a first dass. hwJhly effecllw ed￿alk)nal pasthl envIr￿ment which recogn5s8s the P8rsonal no8ds of each kndmdual and delThtts academic added value for all our pupils. and fty pupils at other schools in the CAJmmunlty. Thg cLyr￿ul￿ is revlvHed Con￿￿81￿ to ensure that each pupil achlevgs the potential acadgmKally and provides them wlth a solid fOUndatic￿ for Iheir nèxt step to ￿hy8T¥ty or on into future empk)yn)ent. The ffKus on tracking and M￿rtOnr4j wthdual pupib, prts3ress enables us lo id8ntty pupils who n8ed further 8UPP)rt wlhln th9 cwr*)lum. As requked, ￿ use int8NantK￿ methods to ensura Ihat parents are kept infomied and wilh indribjual pup* to enswe that Ihey reath Ih6ir true potsntial. O¢vdop the Senlor ar￿ Jun￿ SchLKA fac>*i8s to fLvther ethance the educatlonal addod valuo and pastoral care. for wl¥c* the school is akea(Jy well regardod. Delivar acad8mic. swting and en￿￿M￿nts1 benefts lo all our puplls. vknlle lo￿lI¥j on the k￿.tem1 fubjre the Master Plan forthe school slte. Buitd on ¢)ur dlgftd tKhnolrJJy stsategy by in thg (knbpmont of a nèw taachlThJ aThJ l&aming platlorm YJay scho(4 lif8 Ihrough: H- Hard V•Kirk. E- Empathy. A- knptaNity. R- Resp(￿. T- Tlwht1￿ness EXTERNAL RECOGNITION In AutLsmn 2023, St Marrfs was 8nntyJnL%d as a knli5t in the IrKlap￿ont Sch￿1 of th8 Yaar Awards for Indepondont Glrfs, School of the Year. wi a shtxuist of just six scho¢Js nationally. In April 2024, the school was named a Ilnalst fLV the In￿vatIOn A*rd' category in the hlghly regar(led BSA Boardlng Excellence Awwds in rocwniliL￿ of th8 schoofs commitmant to deliv8ring 8xfAgPtional boardiig p￿slon through Innovative pra￿1￿$ and the expgrtiso of prath#￿OIs. ¢￿e of the knnovatlve practi￿$ that s8￿red us tho BSA Boarding Excellence Firolist status Was th8 imFA8mentalion of an innovauve project U5￿g Work Discussi￿$. as a frwm of refiecfve Ixaclke. Orlglnatkng from psychoanalysL8. this technique lows our boardlng staff to crStic81ty refiect C￿ their experionL¥S. emotions. and interadions siudents. The Juntor Schod STEM Lab 7AtyI a SeONKI award In thg categcry cl Iho Gr88tar C8mbrldg9 t)esb3n and Construction Award5 2024. tt was of ts calegory for Best Afteratkjn or Extenslon under £2m eonstructrjn ¢osts. Page 3 (A Company Llmll•d by Guaranto0) GOVERNORS. REPORT (COKt*4UED) FOR THE YEAR ENDED 31 AUGUST 2024 REVIEW OF ACTMTIES Acaden￿¢ The 8¢tivlty of St ￿￿$ Camtrfklgè b to ethMXtwJn to glrb betwgon th8 8g88 of 3 and 19 Jeal8, 8nd to prowdo opporbjnities for all p￿15 to develcp spiribJalFy. moraly WKI s￿la1￿. Following Ihe adoptknn of HW Perfornianca Leaming {HPL) h) 2017. Sl Marls Wblinues to woth w*h thts resaarch*aséd. P8dagc*JW8d philosopthy Ihal res￿d$ to grtrAwvJ understanding of hunan capabthty. St Ma￿S empowers all Ils students to aim Imgh and believes that al aspire to hlgh perfomwice. HPL significantty improves student ocadomic outcomes creates students TAtho haNt Ihe tcK¥ls to moat th8 challanges of adult Iwe. As well as providing a shared philosophy and Ianguago for t8¥xhing and learn1￿ wthich smC￿hS transiiion 8nd enables prOfesS￿)nal collyknration. HPL has a180 us to *ith other schools bolh In the irKl¢pènd6nt and state sector, both in the UK and ovws6as. AG•d•mlc RMuk• Both Ihe A levèl and GCSE fA)hcrf¢ p￿1￿M￿l exc0p1K￿lIyWel kn the Summerfs pthllc exams. Sl Marvs Slxih Form p8rfcrfm8d Str￿[Y *ith 25% of gr8des warded as an A" {compared to 15% in 2023) and 52% of gradès were awarded at A" . A Thwe ¥*Bra pwti¢u18ty pthances In PE, Photography. Spanish. Lalln and Classlcal Greek *ith 1(N af grades bthJ awwdgd at A" _ A Al sU￿8¢t departm9nts achiav8d 1¢￿>% A.. E grades. These A Lgvel rosults enabled studants lo take Ip pfaces at unpMsities of Indudiro Cambrldge. Imperlal, Durham, Exeter. Sh8ffield. War4*k. Ycffk. ManGhoster and N(Atingham, wilh going to thèir first- choice unlverslty. Subjects being reAd Irthjed Geography. History. Japanese. Musk. Psythol¢)3y. Law, M¢(li¢inè 8rKI Zoology. Year 11 students *JdIl￿alty p￿lUc9d vary res￿, th 41% crf GCSE grados awardod A"_ A (equivalent gra¢J95 7. 8 & 9). vAth Gemian and Music achievry 100% of 9- 7 ￿Je$. Vl•ual Arts Tha departrngnt o￿tinued to *tkome several vlsKcMs: Nu* Gilmore from N¢Thlch Unlverslty vtho gavo advlce lo Ye&s 12 and 13 about p8rsond statomerbts. and Crea1p￿ ¢¥eets: PGCE students from Homorton Cdlege. Urivernlty of Cambrfdge came to lake part for silk screen printirKJ. vlsual Uteracy and oracy and alumna; Daisy OKkir*on. who spoke *rylh Stxlh F(wm slud8nls a￿t *orking In the Photography Industry and how h8r car8er stsrted fL￿g Yoar 13. The Art ScI¥)la￿ 4Wfe actiw in the school communlty.. through Ihelr Creati￿ of our Miri Graffo, fvAraffe, tho Wihj in Art. Stanthng Tall. trall In CamLYidge: vi5itsng St s Junior school to supwt wiunyer students In project.. attending an Ilustr8lion work$hop wlh Tilly Pettttt and belng Involved in knCh￿g tho Aris and Crafts V￿rkShOpS run as art ￿rICh￿nI programmas all students. Some Yew 5 & 6 sttKlents CTe*ed Gir¥Jorbread G￿,. which was on dlsplay In the Grand Ar¢ade. Durfng the Sprirwj Temi th8 Art th*tment VISI￿j Harston Primary st*¢)ol to cary out work$hops as part of the outreach pwramme. The academ￿ yew C(￿¢￿d@d 7Mth the Summèr Exhlbltlon, an opportuntty for am parents. c*er8 and friends to see 04w 1.500 pleceg of Wofk produced by both the GCSE and A18vel students. Pag8 4 ST MARfs SCHOOL CAMBRIDGE IA Company Llmlt•d by Gu*rnnte•) GOVERNORS. REPORT (CONTINUED} FOR THE YEAR ENDEO 31 AUGIIST 2024 The WI8U81 Arts departrnent conllnues to reap eompeblith s￿¢6$$. ind￿￿1￿.. Artists were awarded both and l*Jhty comfflwxlad p*ing$ after enterirvJ the Annual Rotary Club Young Photographer Competition. CIVC '. Chrlslmas compet[t￿In. students weTr highty commendgd in Ihejunlor and senlor sectlon. Two students 7hy)n their categories (intermediate and senb)r) of Rotary Club Young Artist regknnal competllK)n. A student won a Hlghty Comfflend￿ Enty Iho Fitz*rfli•n Colb898 Arch*ecture D9s1￿ Compthon 2024 Several Year 12 students. th vms selecied thg Canlab and Granta Prts Soc19￿0s exhlbhkjn. Tv sludonts. work wont on to win awards f0r'H•3htyc￿lrnended. and Nosl Odginar. A student was h￿hlY eommèndgd for their art*Yy*. was fvatured in the prEe ￿￿80 reel. C*am• In the Junlor Sch(x￿. the ￿Prop Natr*ty TAay trjkl the St￿ of the Natity through the oollectlon of fabric from d￿rent parts of thè w￿rf￿. Thè Year 3 & 4 play prytra￿ slory of Robkn Hryxl, th all the actors b8lng commended for th8 way th8y deliv8r&l th8 Ihamè crf kninring over evil. The annual Year 5 & 6 Shakespearean play was an garderpbased 1xc￿lUCIlOn gave the pJpil$ an ¢)pportunity to work together lo produce an 8nlhrallwvJ and MKd-wlect perfrn. The main Sen1￿ SC*K￿ play was a m(th the ¢>eek play. Medea. pupls coverlng actlng roles. backstage work. ItghtirwJ arKJ s(wrKls. hak and makfrup Co5￿meS. Th18 was th8 first tlme the school had Staged a Grgek traggdy. The lower school play in Ihe Summ8r Term wa5 a fwst the SCh￿S- a Ihgotri￿I tske ￿ St Trinian's, 'St Maz, was wrltten by one of the s¢trthl'$ drama teathws. m￿le The Jwlor School welcomed the ffjlwn of the g￿r-￿pu￿lT Tgatime ￿￿cert, wthlch gave students fn)m Year 1 to Year 6 an opportunity lo perfomi a piw crf MU￿ they were tht)rkkng on. In &ldtiK)n, all students were Invofved in a chor and many perfo￿n￿g oppOrts￿rtIeS were had. a hlghlrght belng Siiging ¢aroLs on the stsirs at the Junior School, which has become a bvety The JunTor SCI￿1 Festival was as popular as ever and saw performarwd from students wi Year 1 up to Year 6. Tho JUn￿r School concart in May at tho UnNers*y Concert Hall featured al Ihe ens8mbl8s, clx*s and somo ￿￿01$￿ with a Beaifes. them&. Th8 Senhjr Schcd also performed fJ)rcerts at tha Univer* of Cambrfdg8 conc8rt hall. In Decembèr arKI June. Both fealured perfomiances by the sclKrfs krgw ensambl8s. alongside p8rtornianc88 from both th8 Young Pi8nisl and Young Musicians of th6 Year. These comp8b￿n$ were judged by Mr Chris Parsons, a mmunty mw¢1￿. C4YKI￿tOr. trumF*tw Dyethr of MU￿ {Perf0M￿nCe) at K•ig's Ety Prep Schcd. Page 5 IA Cofflpany Llmll•d by Guarnnt•g} GOVERNORS. REPORT (CONnNUED) FOR THE YE￿ ENDED 31 AUGUST 2024 Sclonc•, Tethnology, Englna•rlng and Math• (STEIA) The juni￿ School was F4awl in the s¢cA￿d of 8 natwjnd r￿dhYd (xmWIUon. frcln a fisld d over fA)O entrants. The theme was 'A Fuiure in Stem. aryj saw pupds frc¥n Year 44 using Scratth cimling prc•Jramming to develop a gam8 to hiqhligm dlmate ¢hang8. In athliticffi. the JUn￿r Sc*thl wekomed 54 stt•Jents frcrfn Stella Marfs Co118gg in Madrid. Spain for the aMU81 'CtynkXrter Scionce Int￿alTha1 (￿trea¢Th DOI. The Spanish students (aw Year 8 tws) wcffked ￿th our Year 6 gids in ￿laborativ8 teams to lèam to program a virtual lon- sc¥een) robots a5 part of a Rob)cU￿nI{￿ ins[￿ed 'Rescu6 Sknulatk)n Challenge.. Computing chal8ngo . Folbhthg ts Succ0￿ ol cw St￿l￿ts ?' In No¥emb8r, kn Merit and OlsfjnclKJn awards were athithd by mcrfe thon 80% of girt5 in Yew 6. over 84% of the girfs in Year 4. and 91% of th8 girts n Year 2. Six Year 6 st￿Jents k4ned 8 Oth￿ from Year5 7 & 8 {all of whom had a¢hi8ve(I scores In the lop IO% na￿naly) to participate i) the onlin9 '0xford Urivers*y Chall8nge 2024. January 2024. TNS Is on invila1￿￿lY tha￿n98 for tslented UK to prrAlucè fiAly programmed solutions to COMI￿￿tIonal thinknng problems wilhin slitt t¥ne c¥)rtstralnts. A Year 10 Studènt C4)nquered the H￿l￿On stsgg of the irtsmi￿lale maths chal￿￿8, achi￿ng a scor8 that was 45% ab)ve Ihe DistirKtion grade t￿lUndary. A suye that is only xhi8v8d by approxlmatety 1 in 71x1 S￿dents In the c*818ng•. Sport Sport at st Ma￿$ has ar¥)ther and •vwUul y￿. Tha s￿￿Mer Term saw both JuniLY SenK>r Sch￿￿ Sptyts. Days ￿ wA15 taking part in a varloty of track and field events and ganing porfs to supwl ty*ir sc*thl H￿se8. n September Sl Marrfs U18 Hockey lewn were County champknns; In the same month studonts won the GSA Senknr Netball toumament. Prior to Y￿lOry, Ihe Nelball team s￿nI a day tralnkng vhth EThJlgr Netball pknyer Beth Cotrthn. Tho U14 Fojtball the* rnald￿. *gth al the team tsrd to disp81 th8 myth that only men can success(ulty play the sptyt. of our Year 9 tKas accepted th& Wasps Football Academy which fornis part of Watford Ladies Foolbam c￿b. R¢)wng at Sl Mary¢s gogs from strength lo streTr￿ ￿lh su¢rnss8s In many race events over th8 year. 01 partlcular nots was the gold medal wn by onb U14 uew kn the doubbs eveni al the nalional Junh)r Sculling RegatL3 held at Eton Oomgy ($ite ol the 2012 Ctynpti). hawng quaKnd via two b)cal and reglonal ompetb)ns. Tho School ss Bribsh Rwng Affilated. op8ns up a wealth of cyportunibes to the Sch(￿'s Towng teams. allovAng pu￿ to l*e laTg8r naknnal ￿MpellIonS ￿ to utlise the sUp￿rt and resources of Brwsh RO￿￿￿. Fetrfuary saw the Gymnaslics Shth¥ *ith pupils from Years S - 13 per1￿￿9 using ril*￿. apparatus and flc￿r work. This was a gr&qt oppcffbjnlty for o *vJe ag￿r￿8 of puixls to wcrfk 14>Jetsr. The annual Dance Show took placa kn Marth, and a rang8 ol dance by ￿11$ fvorn a varlety of years acro8$ the school. P8go 6 ST IAARYS SCHOOL CAPABRIDGE IA Company Lknlt•d by Gu•r8Thl•e) GOVERNORS. REPORT (COP￿INUED? FOR THE YEAR ENDED 31 AUGUST 2024 M•nlal H•ahh & W￿1b•In9 We prforkise suppcvt for students. and staff mentsl IRalth •xl **lboing. Our Mgntal Health and Wellbgl (x￿rdinat0rs ￿ the Senior School vnrk to ensure that support for mentsl heallh and V•pllb8lng is priorlltsed across the whole Sthtyj rnmmunty. Ihan t￿ memt*rs of staff are Mentsl Health Fitsl Alders ac1￿¥3 th8 S8llkir and Junior Sch(th. Along with the nL*S8S. the School has also trained sludents as mentsl health Gh8mpK)ns. Tha Scho(4 now employs counsellors ¥rt￿. akryside thg Sthool nursos can provide suppcrt to Students as needed. th￿r ￿nsU￿a￿OnS taking place in the school WelkBelng room and are avaIla￿e for students referred by the sc1K￿l nursos. The SC1K￿ Ck)udB8se site provld8s a l*ge rango of r8SOUfCOS including video clps, links to reS￿r¢8$, apps ￿ wèbsmes vAih advice. gu*Jancè and $¢lf•¢are support for students concerned about thelr mental healh. The Schcd ￿￿eS prido in its proactNe approach to manlBI he81th, wtti wellbeing in￿al￿eS including mindfulness programmes, peer support groups. and development workshops. We affj ¢ommitted lo ¢r9aling a sch(xY culure vtheig every gid feels v8lL*d ar#J understODd. Alongstd8 support for stLKlgnts, staff have boon wovthd *rfth a full pn>grnmm ol actmtles avalkble across t year IndLKliNJ Yoga, massages and z￿nba. The Senlor Schcd obgerve(J Wotlj Mwrtal Hgalth Day in Octcts and M8ntal Health Awaronoss We&k In May with a rang8 of actsvibes induthng OlrtS￿Ie Yoga, gardenlng cltsb. sev￿re keyrtng making. creatfve eollago. karate aTrJ seK-defence. stUd￿ts wpre erK￿raged to a note of ￿alIt￿lS to a friend of memb8r of staff to be shared on the'Gralllude Board,. Stud•nt Volc• st Marls rnntinues to priorfiL8• our stthknt commlttees. th8 Imp￿￿nce of the students having a volce kn how thek Scho￿ 19 run the impact this ha5 on Oracy a(xoss thg school yBaTS. Our I￿1￿$Mty Coordinator who was apponknj at the end of 2022 SUFPOrts lh8 Student commlilees lec(Trcoundl. kndUsl￿, student counril. Nitgmalional) to gnsure fegdbad( reachgs thg senior lothrslmp ta8m. vthD, kn tum th8cuss al Weak￿ SLT maetings and m*e recOnW￿nd3tIOnS *thlch we Ihan fed back to th8 sch￿1 communmy dur*vJ an Nssembty. Outdoor L•amlng Ind Blophlll• For Outdoor Classroom Day {2314 May 2024). 8 lar￿ of acb¥rti8s war8 organi88d by the OutsMl8 Learnlng C ordinator. th98e induded a raroe of les>)ns. (xaft and musi¢ all inspired by naturo and th8 envlronmenl. The outdoor clas5ro￿ continU9S to be popular vthh st8ff and SI￿ants alike. wlth the addition of Ilgmlng and largo b8an bag$ is o comfortable 8ltemativa as a verM* for lessons to IAke place. 11 Is a mu#i-fun¢tional. ¢akn space thal can be used kn all pasl(Yal and academic tsp8cts of school The Gardaning Chjb goes from strength to $trength 7Mlh st￿Jents involved in the design and manufadure of the ngw sensory gar(ien at the S(th(￿l- stthts uskng skills to cwto • giant bug hotsl for thg gard9n. Thls year saw the Inaugural House Garder￿ evon( all S￿dents entered ￿t0 the spirit of eAMnp8ti1ion. planlirvJ The Community Pr(thce stall provkles an oPFthU￿ for staff and students al*e to Sharè spare seedlings. plants and woduce. Created In the Summer T6Tm ot 2022. the slal is gain1￿ ￿ popularity and the community 15 encouraged to share spare seedlings. Flants and wr#Jucg. This has begn a greal success and will ccmunue Inlo next grthling season. Paga 7 IA Conyany Umll•d by Guarnnte•) GOVERNORS. REPORT (CONTINUED FOR ThE YEAR ENDED 31 AUGUST 2024 SCHOOL srtE DEVELOPMENT PROJECTS Mwy Wwd Edu¢•ll¢A￿l Sull• Wlth complewon of Ihe School wr4OL* in 2024. a p)d openlng was hdd at tha ond of that month ¥￿th gov8rMrs. alumnaè. parents arnl slLKlents inviied io see th8 c¥)mpleled building. The Mary Ward Suite was put Into use Nnmediatdy with al acadwnlc staff invited to to)k the rooms to teach a ￿s8￿. 081oiled %KJrk was t2rried byour Swior Ooputy with Interfor d8slgn SFeu*ists to 8n5uro the four rthv rooms are a calm leaming space. whkh are easy for bolh teachor5 arKI stUd￿ts allke lo nav￿3a1e. There18 a long-term plan to use the four classroLYns as a tlueptht tr rfrdevdowent of all classrooms across lh8 Senior School ImpTovom¢nts conllrthd ￿￿O$S the SanK￿ sdthl. wlth krternal decorntion takkng place. Thes8 were in conjunction Yath the materlal pkn trrtrodLK4d by th• Bursar wi 2022 and rc411ng ts the next fvo years. DEfAILS OF BURSARIES •14D S¢HOL*ASHIPS Bursarf•s Oue to the orwing SI￿11)n in Ukrth, the SdKd (thynued to Sup￿ pupls ware stafvg wllh hosts In the UK. Due to the unc*rtain nalwe of conThd. al crffers made to pupils are open-ended, for as lon9 8$ famllles n8ed a pl￿ at the sth￿l. In 2023124 the vaue of mws tesknj bursaries tcrtamed £522,383 compared to £S82.150 In 2022123. This represented 4.05% of our gross fegs (￿pared b 4.38% for J)22123} and providod assistsnce lo 40 students 145 s¢udenls in 2022r231. Bursary Awards fundw 15 Sat at 6% of gross fees. which In¢l￿￿ed some p￿11$ Iwthln Day and Bowthng) r8rthrywJ ￿p￿￿￿t at 1(NYA. The Schts)I malntained its on9)iry relat￿Ship the Royal Nati￿al Chlklren's SpnrwJboard Foundatim by continuing to support 3 SpringLw)ard pupils as fl￿￿tirne t*)arders, logether wrth 2 students welcomed into th8 Slxth F¢Jrni from North Cambrklge Academy. In total. 13 puplls b8nefrtled from 100% Bursary 5UPk￿ elther dtrecty from Ihe sca￿1 orfrrAn the Royal Nalky￿￿ Chldren's Swwwboard Fowdatiw. Scholarghl In athJits￿. the school award*l schdarships to 60 pur* {114 kn 2022r23>. based on thetr educational merlt and potenlial. totslling £55.917 coryared to £106.732 li 2022123 aThJ represonting 0.43%10.80% In 20221231 of our gross foes. Of this number. 4 {9 in 2022123) also qualfièd for means-tested burs￿ support and are Induded In the fiwres ralatiry to buwryawath. The progrnss of PUF4s recoNing Is wnu* to ensure progress l& kn lkne with thdr abilities. No scholarshlps were thè par as a resull of re*￿. Paga 8 ST MARfS SCHOOL CAIIBRIDGE (A Company Llmlt•d by Gu•ranto0) GOVERIIOR5' REPORT ICONTINUED) FOR THE YEJA ENDED 31 AUGUST 2024 LINKS TO OTHER SCHOOLS AND ORGANISATIONS stsr school and lntsmltlon￿ Ilnks Ovor tha summér break a number ftym selethd staff madè a trip to Lourdos. Franc8 to assist disablgd pilgrwns who had made the trip. Donning thè Icon￿ blue unrfonns. the girts spend al day with one pilgrim, he¥)ing with dally tasks. as as'fo*ThJ' Ihom to receTr￿ ts ￿lI[¥j waters. Six students from St ￿da￿'S a￿1 Ascham schools h) New South Walos visi￿￿ for we8ks al th8 end cl Spring T8rn1. Th8y joinad tn t*th the nomial muline ol the sthool. staying Year 10 students. t￿lI19s- wlth a retum trfp takkng In Juty. Llnk• to the local Catholl¢ afbd wld•r Mmmunlty St Marl$ staff conlknue to SUPkXWt wogrammes ITr whK* tim8 is gibBn gratis. Our Head of Religious EducalK)n represents the Bishop of East Anglia on the Chaplalncy Councll of Anglla Ruskln Unlversity, an 8cumeni¢al t￿Y whKh overse9$ tho of tho unlversity chapl8ln$ and acts as a conduit b8ts¥88n th8m and th8 unNorsty managemenL Parinershlp *ith ts parish is enhanced by t8achgrs' Inv0fv￿9nt in parfsh ￿8, for example through In￿￿ernent the ministy at a Var￿ of churches, sirying in th8 C￿1r for sarvlces, plw'ng at Dlsabl8d CIMklren's Masses. EutharBti¢ min￿ty, Cat8ch8sls, SuppO￿ng Ihe parL8h prfest vAth the day4trday admirmstration of a kxal Cathok partsh (St John Fisher. Cambournel, running youth actlvblbes and Confirmation dassos, supputirvj Ihe Firsl Communbn preparatlon. running adult gTOUPS and retreat days. being membgrs of Catholic churth steerkng gr￿p$. lUnnw￿ a Mryd8 varioty of social and liturgical activiti8s. 18adirvJ prepwing ecumenkal Seri￿ arKI establishing ltral wll•38 groups. Slaff volunteer wlth the Cambri(Ige Churches Homeless Project. Our Diractor cl Chrislian Lrfo and H￿d of Re￿9￿￿5 Eoucallon Is also rewnsible for Communicatic￿ pwents about kturgical and occaslonal sc¢lal events the local parlshes, e.g. the Ablazo gr￿P at St Laurgnco's Church 8rKI Intsti￿ of other thwch or ocumenical Christian groups in Cambridg8. Our partn8rsh* vAth 8 1(Thl stata seccrfKl•ry sdwl. is L¥JiK shared Chrfstlan wak￿. Students aNJ staff in bolh scho(Is benefft IrL*n a rangg of Colatrmb￿S WMI wkkng wrflh St Bede's has Cmated a values-drlven partnership. AcaNiti8s YKlude: Classical Gre8k- St Beda's Year 9 arnl 10 stthts h)ii our glrts to study Classlcal Greek at GCSE. Thls extends the cunKulum options at Sl Bedo's and boosts parlryth n our Smallest cla5S8S. staff at St Ma￿S School Lxntribute significanty kn tha wd8r communty, actirwJ as govemors at Ioc818tats schools and as an Academy Council Member at a kKal vIlla￿ colgga. st Ma￿S 1$ also keen to support local (x*nmunty athitw. from Ig￿lIng our parking fadllt19S to the Botanlc Gard8ns In order lo facililate th8ir 8vents. to cpeniw up the arKI Senlor SchLM)I bulldlngs for local re8hJents' association maeting$ (vthich ow Operaticms Manager attends). Membèrs of the h)cal r8siderrts' association b)ca ntysery schoc4s are inmled to al J￿10r Sel*￿1 èvents. The J￿10r Schthjl a150 ￿VIte$ the Joint Colkges Nursery to use Is lor their outd<¥)r 1oamiThJ programme. Our EA)ardiThJ communty Brooklands Avenue also malntain c*J5e lir*s ￿ the res#*ents of Ihe rnighb(KJrlng Royal Ajbert Homes alms- houses. F￿n￿ty, ￿ has been partiCLAaty importanl to imfjle members crf our hnmedlate k)cal ¢XJmmunity to s80 the cLNMp￿d th at the school at the (rffri81 cwilNJ kn Jarn￿ 2024. The sports ground at Long Road ha5 also been made avalth to the local c(Mnmunity to brx)k for tralnlng arNI match ses8lons. The laty*ios are rggul¥ty used a ¥ar*ty of sports: fcthl, Ihxkey. rugby. netbal as w811 as ultimate frist*8. Wa axp8ct that communlty us6 oflhese fa¢ilities ¢£￿tinUe to grow >¢ar on year. Page 9 ST MARfs SCHOOL CAMBRWE (Acompany Uml¢•d by Guarnnt•e) GOVERNORS. REPORT (¢OlnlNUED) FOR THE YEAR ENDED 31 AUGUST 2024 COMMUNITY SERVIC£ AWARENESS RALSING AND FUKI RAISA4G Each lh9 staff and students Mdort*e fuThJr•5w¥J ts hxxl. n81kn81 and Interna￿onal charllgs. These events arè supp)rt8d by staff and S￿dants WKI arg a wxtical representslknn of ￿ Sthool's elhos to help olheTS. Ch*lty funtlraising played a very IMp￿t r(Ae at St Marfs jun1￿ School with bcal and international benefK4arles Including Roald Dahl Day, Chldren in Nogd aThJ thè Workl BcK* Day. PrO￿edS from the Hwvest Fe$lival went to tho local foodbank the School continues lo sponsor an Ethi￿￿ child. Hani's educatlon and care. In tho Senic* Sthfy)I, our communty is often infomied or nspirgd to wlth charKablo projects or foundatk)ns through alumnae who rettwn to prgsent s¢P#)ol assemt418$ or Sixth Form sossions abcwt the volunteer wor* they have uTrJertaken. The swNwed Fun Run and Lourd&s FundraisiNJ Fortnlght are highlb3hts wthich also I￿Ude ￿kO sales to nOn￿n￿OrnI dayE. Two 'huThJw ￿n￿88. each acadamic year ralse money specifically for CAFOD {Catholi¢ Agency for Overseas D8velopmenl}. The total raised across the academlc year 2023-24 was £13,861. B8nefvi*ies Inclthled CAFOO. Breast Cancar Now. BBC Chlldren li Need, East Anulian Children's Hosplce (EACH). CwnbrKlg8 Women's P&J. RENATE. Altheimefs Resewch UK. Young Mlnt1s, Save the Chiklron. CAFOD World Gifts. Glanfield Chihjren's Group (Lourdes). DEC Ukralne appeal. East Angllan Aw AJntju1an￿ and EOUCAO Siorra L8on6. The reCt)I￿)t charitie5 arn cFhJ58n by the Dir¢ctor of Chris118n Lrfe, ￿ conpinctKJn wilh the Slxth Fom Chwity Pr8feL*s and iryul from $tudents from across the Schod. The Gmng Tree Inrtiatrle was aga￿ by Year 9 Students. where pupiL% ¢oukl plck an kem from the knazon list of a local h¢)m*ness charlty, Jknmls. and th8n hang a lag on tre¢ detailing the g*t thaled. Represen￿￿ from soma of these charltles vbited the Sthool to wesent assemblles on ther vth. St Marfs SI￿18nts corthu9 to aGlh* Partxipate In th8 Duke d Edirknwgh's Award Schome over 21)0 studonls invow at Brm, Sfver Gokl 18veb. vo￿nIary service foms an knportant part of the schome arxl so our students hava spent over 2.OIXI htsjrs thteadng on a r8gular basi8 at many local organisotions, In¢lth*ng Ad(10nbrC￿kè,s Hospital. church cafés. Rank Hosplce, various nursing htynes and local Scouting and Guiding communilies. Olher students sup￿1 tho eldety, disabled children, coach a range of actlvllles fr(Nn io tennis fr(4n darKe io jwior ￿11. and hel) al animal r8SCU8 c*ntres. youth clubs. nu￿Ory schods e4KI SuThJay Sclx*45. Students, and h p￿tsc￿￿r boarders, have abo Str￿19 communty knk$. In partlcular ￿th Cancer Research UK, providing many donations. Unks have also been fomied belwn the b)ardng accommodatlon {Mary Wwd HoLwI aTrJ thg residents d thg adjacent aknsthou50s- IThr￿￿Jing baking cakes for lh8 now annual May Daytea paty. Bwd the school gates slaff and siudents are tNcthd kn many fuThJrnising and wluntgering aGtIths. Including the Cambr*e Churches frb)meiess Pn¥ect. the Lfordry at Home s￿iCe. the Cambrfdge$hira Searth and R8scuo Team. the Sick Chlldren's Trust * Pddenbrooke's Hwital. and th8 Crick Inslilute In London. Sludents and staff have also wed mcThy, through skKrfng events, for organl8allon8 IrKiudlng Shepreth Wmdlwe Park. Mac•AilLin Cancer Research WKI The CF Tfust. Page 10 ST MARfs SCHOOL CAMBRIDGE (A Company Llmlt•d by Guarants•) GOVERNORS. REPORT ICOPfflNUED) FOR THE YEAR ENDED 31 AUGUST 2024 Emilronment Now In its seventh sffjar. the Junw)r SChty￿ Ec¥thncl has eontIM￿ to flourish. The Ecthcouncil gave an assemtly aboul N*ional Tree Week and plantsd trees sent by The WoodaThJ TTUSI. The EccTrCouncll had gr881 fvn working logether wlth Schl￿ gardeners and CuJlivaW Change to grow Vegeth￿ In the Junior School garden. st School was Hithty Commended li Stiknttos Awards for Bgst Eco Inrtlalfve. wNch celebrates schcx)Is who have undertaken initrati4YS to holp protad the FAanet and thus empo￿￿ng students to b8 8g&nts ol chango ￿ creating a better wodd. A large group of students were elected to thè committ88 in September 2023 and the ccrfnmittee were taken to the Camt*idge Gr8en Schc¥)Is Conference that month. Tho committ88 ci>ntwiu8d to ensure the anvkonment and surrryjnding issues kgpl in tho spotjhjhl the delivery of topics such es Healthy Lfrkng. Eco Schc(Is Award and Interna￿n01 Women's Day pr8senlallon lo thg Ythole schty)l in assembllés acrr)ss the ￿*r. Transport Biwle ro•J 8w8rones8 and tralkmw ¢<￿￿u? to bg an amual basls, Whlch help to teach our students the Val￿ of road safety and increases c0rfKl8r￿e in road re8Urtlng in a signfflcant number of students cydng to schcd. Cyding is of the eco ctynmlttee's sustainable choices. which make tha 8co code for the sch￿1. The knnger-18rm strategy school vehides i8 to procure electric minibuses at the polnl (rf repkcemenl and vknon electrlc mknlbuses bec￿ more available. Discusstons ara also being hakl ￿th local indgpendgnl schod$ to run 8 Trjlnl coach from various siles on the outskyts of the cty lo trxlng students to all the l¢ical schools in the vkSnlty and to •VOTd a larger number of smallgr.scho0l-spec￿. mlribus traffic. This s￿VkI further reduce the numbar of cars no8ding to travel inlo the atroady congosled dtycentra. Futurn Pl#n8 St i% commltted to malntairing the current standards of academic a¢hi8vement to provlde our puplls ￿ the caring and $UpF￿rtivQ enVirO￿ent vthkh makes il possiblo for all pupils to r8ath their full potenthql. The School wll continu8 regukqrty to r8vi8w the cuthcxdum. extra4urricular a¢tiwties and pastoral supp)rt PmVKlgd. We Vlill conlnw to (*) a numberofothor (kn￿ent wo1￿. Wlth the ongolng e4Jmmrtment to bgcryniw a thJ*al sc*Kd. the sth￿l Wryl continuo to 8xpand the rokq that digital tech[￿1(#3Y pla￿ in thè frfo of our students. IKludi￿ deveknping the $iite (4 digital pro3rammes lo complement dassroom learnlng and hcreasing the usg of digital textbcwkn. In addilion. ￿ will look Into how bgst to usg Artilclal Inlellgenc•. We c(x)tlnue to dev8lop our role as a High Perfmnce L￿mIng schr￿. Thls VAI knvthe I￿kir9 into areas Suth as Behavlour. Revards and Sanctions. and Moniloring and Setting. basing any thanges on res8arch-b8sed, evldenee-led besi practicè. In addilw)n, wll conllnue lo hosl vlslls from state and Indep￿dent 8chods Mshing to w￿8rStand more atx)ut the •J¥antaw of HPL. Ttto Govemots c￿linUe to be ccffimllted to mainlalrwy Oxcelent pupil.'tsather ratios and to Con￿nu8 Ihe prc¥Jramme of professK)nal development for all $tsff. Thg School inviles peric*Jlc gxlemal r8vI8v•S by peer schools, teachers attend a wmle range ol professional developmwbt courses and 8 programme of INSET whrch indudes presentations from visiting speakers. Supw)rt Slaff promdè essential services and a5SiStanc8 Is Prti￿ded lo h¢lp attain extgrnal quolrfuti￿s across wi(xtsTrJb rolés. The ccmlrlbutlons made by th8 SclKJoI to local, natThal and Inlematknnal communlues. éxternal charity fundralslrnj and bwsary provision. are conslanty und6r revi8w *bd the Gov8mor5 continu8 to support and encourage Such iniliatives. Page11 ST MARfs SCHOOL CAMBRIDGE GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The GOv8m￿S have contiNed to knk into potential intemational deveh)pm8nt opportunttles. Several posslbl8 locatlons of Interest have been identif*d and th8 Schcd wll carry out further due dili98nc8 checks and galn a deeper undefstonding of the optKTh that are aval8L49. FINANCIAL REVIEWI RESULTS FOR TrE YEAR Flnanclal r•sults Tho total iicomlrvJ rgsourcfjs ￿ 2024 £12.698.358 ciMnpwed to£13.647,329 kn 2023. thè malD source ol income being in raspect of School Fees. The School lets *s premises to overseas language Schools oach summer. and the I￿￿Ce for Summer 2024 was comparod to that for Summer 2023, with 18ttings inccwne totalliTrJ £47.320 in th8 ygar1£410.335 bn 2022r23>. Fundroising income n 20231rtluded a donation of £250.Lh)O Ivwards the Maryward Ed￿atiL￿￿ Suite bUibJW￿ rKr Not outgoing resources beth transfèrs h)2024 £465.171 tt*npared to£l.186,997 nèt Ineomlrwj res¢Jurces wi 2023, with staff salary costs be•YJ the slngle18rge5t c4)st wlthn Exp6nd6ture. The Balance Sheel nel assets of the Grow have de¢￿Sed from £18.952.W2 in 2023 to £18,487.421 in 2024. Fixod ossets wnsi$t of the Freehol¢J Prowty at 47 Bateman Strrt Mary Wartl House in Bfooklands Av&nug ((￿r boarding house form8rly The Hopg Nursing H¢Kne) ag wo11 as the main Sth￿l buildmigs. the Leasehold Propèty at 6 Chaucer Road as well as scho￿ fumiturg. W4Utpm¢nt and motor vehides. D•v•14ywn•nts and malnt•n•nc• Cm site at the Senh)r and Juntor S￿￿lS. th8 dNJrtal strategy contSnue(I lo be appli8d, wth 8H students at thè Senlor schr￿ b8nefftff￿ from on&lwe dgvKes. a rol out of M#yosoft.bas8d d￿¢88 to replace the Chromebooks preVi￿$1y issued. In adthtion, O￿tinued the prc&ramme of rep*ment ol the classroom InteractN8 Whitaboards V4ilh I0￿h sc¥een Tvs, ushj the c1)mr￿d Mary Wwd Ethcational Sulte dassrtsjms as a blueprmll for developmont af all dasyo(Kns ￿Tr$S the srte. A full roof ffjpla¢ement Carr￿d on lh8 main JLmhv Sch￿1 during Juty and August 2024. and the work 7bYaS compl8tod for the slart of the aGadem* ￿. large trees at tha front of the Junlor Sch(MY had to be removed as they were found to b8 tho main of th8 movemert detecbj in the Juntor School building. were onty removad folowiig a kng of eVa￿allOn ar#J InVeStiga￿n. and wrth the approval of the Thg Bursar carried out a comproh8nsiva ro¥7￿ across al s*es rA tho s¢)￿01. *ith a fvtryear Pl￿ bglng drawn Pag6 12 ST MARYS SCHOOL CAMBRIDGE IA Comp•ny Lknlt•d by Guarantee) GOVERNORS. REPORT (CONTINUEO) FOR THE YE￿ ENDED 31 AUGUST 2024 R•s•rv•s and fln•n¢l•l h￿1th The r•sarves of thé Group totsl £18,487.421 (2023.. £18.952.592). whl*b includes £23.814.144 (2023.. £20.834.5491 represgnting oxpgnditwe ￿ fwtrK)Id leasehold proF￿ty less accumulat￿ depreciation and amorlisation. The sclx)laryJhlp fund rewesents investments sol as*Je to prc*Jucg inwne and capilal growth to provide twrwles and scholwshiis for students. The sC￿la1 Investment of £450,OtY) rapresants tho value of the land at Long Road that forms eknnIributi￿ to Ihe J(¥nt Venture with HOmw￿n CcAl89è. Cambridge to p￿d9 first class spjrting facilit*s for tN)th entibes. Free reserves have rnduced kn th8 y8ar ty £1.928.$97 {compared to a redLKlk)n kn the defidl In 2023 by £52,737) and are currenty in d*it by £8.712.633 (2023: £6.784.036 - restsled to indude the social venlurel. Free resèrv85 ar8 in deficit du8 lo the Schcx)fs inveslm8nl In property In rttent ws. The in¢r¢ase in the deficit In 2023124 and 202W23 Is due tt) the expen¢Sture on Ihe Mary Ward Educaknnal Suit8 in both ypars. The freeh￿d of the S8nior Sch￿1 in Bateman Street was purchased in 2014 and Ihe freehold for Mary Ward Fkjuse in 2016, ￿ further Investment mad8 to tth958 and ott18r wcp8rti&s to conltnue to provid8 first class facllthes wlthln 8du¢aknn and t(￿ding. Property 15 h8kl in the flnanclal statements at cost and has not been revalued. A recent independent walualicffi confjmied prwty vabjes to bè s¥Jnificanty higher than original cost. The School's long-ierni aim Is to genernte anrthl surplus to r￿ju¢0 the dgfKil. Undertylng this desplte free resgrves belng In Cash Reserves at the y￿-erKI ￿re £2.6 milM)n {2023: £3.7 mlllionl, and the School Is able to meet all liablilies. The target level of cash roseNes requlred Is sel at 4 months or 1 tsml's worth of operatlng costs. equivalent to £3.8 milli￿. Inv•slm•nt pollcy and perfornianc• The Memoranthm arKI Arilcleg of Associakn govern SchDcl$ investment pollcy, whlch pern)lts the appointment of a proper and competent in¥eslment manager to act kn accordan￿ with the Investment polKy lald and M￿lt￿￿￿ by lh8 GoNwrn(Ys. Thg pr*nary otiectiNY for the Schoofs inveslment manager is tr) ensure I(￿g term capital growlh Ihe P(¥tfolo. The l￿d9 *ill be m•nagtd to ensure that I￿re are $ufficlgnl assets and an knveslment Ilme IK)rtton fw enough in the futur8 10 7Mihstand smal to mei*um los$8s wthln tho portf￿10 before there Is a detrwnental effe¢a on the Schc¥J's aiMIty lo deliver agalnst tts dtylo4lay requirements. The Trustees, pivNity is to tha capital ahead of infflatlon over the long temi. There was an i￿rease in t valuation of the Charitys Managed Investment Fund of £72.881 Ikning thè rewrtod year. and the closlry valuation wa5 £584,2921£511,411 as at 31 August 2023). Trust￿ pkn to carry c¥rt • mry8w at h(Yw furmls 8Th1 kn¥estments are uullsed, to ensure Ihal the School continues to bè ab￿ to proNllde bursary and schdarslmp support lo as many puplls as possible. Funds wor8 sat aside for this purpose and lo dat8 have not been reloa86d. Thls rtivi￿ wll investyle arKI consider Ihe reasons for designations and reslrictknns of Ihese funds to enswè that they havo bBen correctty applied aThl rem8kn aFproprfatg lo erkible use of the fundB for th8 p￿pose bwsary and s(*olarshlp support. P•nslon Ilablllty The Govorncys recogn18e the Habllty exlsthg in Tlw Pen5kM Trust Ir¥Jependent ScP¥x4s Penslon Schem8 Deflned Benafft Scheme (NB pl&ise refer to Notes 21 and 29 ni the a¢￿ts). The Pension Liability has béen re[￿ed ￿￿thin the accounts n aGcorilance with accO￿tIng standard FRS 17. To eliminatè Ihe funding shortfall. Ihe Trustee has asked tho parUapatstvJ emplojers to pay addibonal Contri￿tionS lo the scheme be￿en Sepl8mb8r 2016 and August 2029. Where thé stheme is n defKil and 7th the School has agreed to a deflclt fvnding arrangement, the Schod reLxJwise5 a liabiltyfor the obligation. Pagg 13 ST IAARfs SCHOOL CAMBRIDGE (A CoTrwJny Llmltsd by Guarnnl••) GOVERNORS. REPORT (copillNUED) FOR THE YEAR ENDED 31 AUGUST 2024 ACCESS POUCES Burdary Polky The Governors vlew our bursary ￿ArdS as knporknt ￿ Ii*•vJ to ensure thlkknn frwi families vtho would otheNise nol bo able to afford Ihe fees can ￿ th9 gdwaticffl we offer. St Ma￿$ offers mean8 lèsled bwsdrfos tcywards the cost of fees. Thè tAwsary wards range from 10% to % remisslon crf ftss. The Scheme is designed to asslst pa￿lts or guardi￿ on Micom8s wtrKJ may Otherw￿ bé unable to send, or contlnue to send, ther thild to tho sc*ool. AppkatiLTh for ne4V erttr￿1 bursaries ￿lI￿lde 9eneralty wlth the new admk88ion decision times the Junlor and Senior Sclh)01s. but bursary appllcatlons from exi$llng parents facing Unexpec￿ hard￿ can at any stage. ￿[SOrieS are re¥￿￿d annualty. The availability of bursaiie5 is adverbsed *idely throu￿ k)ol thurcha8 and chwch publutions. via ststs sclmxl Ilnks ar￿ on our webslte. Bursary decisK)ns are m&le by tho Bursary Comnltte8. acting wrthin pclicy guidance firtancial budgets set by the B¢Mrd of Govemors. In assessing mean8, tsk8 A numbgr of factots Into conskderat*)n Including famity inc4Jme. Investmerts and savings and famlty c*cJJmstarKes. for exampl& do￿nd￿l relatives and the numb8r of sibling$. Ho￿Ver. OLW S¢JKv)I has no en(h)wmnts or cap*al r950urGes from whlch to drow tyjrsary fuThJlNJ, so each ftwKling is *Jbtained sdety from ino)m¢ gen8r8tsd. As a resu￿, in funding c4Jr awards ￿ are careful to ensure there ts a bal￿r• bthoan faa-paying parents. many of make considerable pers￿1 sautfK4s to fund thgr chhJ'$ ed￿￿tk)n. and those benefiting from the avdards. Scholar•hlps Pollcy It is St Marfs Sch￿1 policy. in line with that of (Aher IndepeThJent sdK*)Is. to make s¢holarshlp awards on the basis of an Indi￿d￿al studgnl'$ ethJcatwJnal F*)tential, and students bènefit from a combination rA both scholarship and burBary awards. Our schc4arshW ar8 8wardgd to recowi58 Outstandkng academk. creative and athtevement to the *id8r rx¥nmuth. Scholarslwps aro usually awarded as a (rff day SCI￿1 fees for the lenglh of the s¢holaTship. In the interests of indusfvlty, no studant will normaly be thvarded more than sChola￿hIpB with fee rwnission. aRhough applicants may appty for mcffe than ￿. Awards are US￿lty v* fortso Cfear 7 Slxth Fonn 8nlry) or fivo (Year g anty) Jears. Scholarships can bé purely horw, ￿th the fee remission donated by parents into our Bursary Fund b ber￿ slud8nls Vkn othapm be Unab￿ to afford a place al the sc￿01. In add￿on to a fee reduction. scholats recefve supp)rt in their area of talont ftom a taachgr. scho￿1$ arè expected to act as rcAe models to ￿1r peers aTh1 ¢*)rrtrI￿ to *vJer sthool life. fosterkng a love of leamir¥J and (>)mmrtment to s￿¢6. Pag8 14 ST MARfs SCHOOL CAMBRIDGE (A Compary Umlt•d by Guarantw) GOVERNORS. REPORT (COP￿lNvED> FOR ThE YEAR ENDED 31 AUGUST 2014 STrUCTURE GOvERN￿cE AND MANAGEMENT Structum st Marls Sch￿1 Cambrldge was kne)np8ny was dC￿ant thring the year. The principal athity of Sl Marys Junior School Limlled, that of educalon. ceased on 14 Poril 2008 vhwi tho company transferred business to rts parent charlty, St Marys SchcK>l Cambridgè. Al subsithary companies have uNl8rtaken lo pa8S all thelr tsx8bl8 wofits to St C•mlwiJgg. WKlgr GIftAId. Und8r the tarnis of the amended ArfK*s (rf Govemors ¥e appolnled by thè exlsllng Board of Govemors in clfice at the twna of appoinlm8nt and are. ￿nditIonal upon ralFficalw)n by thè Members at the next GOver￿r$. Meetlig. to serve for a perk)d of three ￿ar$. Al Govemors whose appointment Is ratified by the Mgmbgrs must become Mefflbe￿. Sthequ8nl re-appointments rnay extend servic*, but for normalty no more than the (yJ)se•. a krygr aFP)intmwt twm Is for spodal reasons. Gov•rnor R•crultm•nl, Indu¢llon and Traknlng The composilbn of the GovemhTr3 Body IB gp￿n ￿Teful thrwhl and planning. MgmbeTS should be able to $peak with knth¥l8dge and experience on the wholg raThJg of mattws whl¢h come before them for decision. Accordingty. wthen a vacancy is to b8 f￿ad, the 1knern￿ d8t8milne l any r￿Id of experience or tralning is rhjt r8presentsd. or Is under-rewesenw, on the Board. To assist this process. thè Govemiry Body ￿ndUcts and r¢gularly reviews a skllls audil, ￿ line gc#￿1 praclic•. The Goyemance Committee is g8w* for govem(ws t•Alh the skills roquirwj. H¢)wever. this 1$ also of cdlecdve reS￿r￿￿11111es of th8 Govoming Body and Ih8refor8 a matter lo which all Governors giv8 thought. In addition to thè primary consideralKsn of $kilb. the Govemance Committee ensure5 thaL vther8 [x)ssI￿. the Govèming Body is a drrferse group of man and womw, whitsl also taking Into account ellgibilty. personal cLJmpeterKw and local awailobllty. Polenllal Govemors are Invlled to meet Ihe Chair of Govemors. oiher Govgmors nomlnaled ty members of th8 Govemanee Committee as part of the appointment process. At these me8t*igs. th8 obligalions and ￿$p￿sIbil￿es of a Govemor of St Ma￿5 are explained n detall to ensure that ph)tential Govemors have a dear uThJorstanding of the dutios and workload x￿cted of them. Potential G¢Jvemors are lyiefed ￿ t￿1[ legal obllgakns under charfty and company law, the conlanl of the Momorandum and Arirles of Assoclakn. Ihe GoN*m0￿, decish)n-makww rrtCthSS8s and Ihe recent financial pertorniance crf the sch￿1. Page 15 ST PAARYS SCHOOL C￿￿BRIDGE (AC¢)mpany Llmll•d by Guarant•e) GOVERNOR> REPORT (CONTINUED) FOR THE YEAR ENOED 31 AUGUST 2024 Aftèr ap￿IntMent. the Inductknn prLKess IrKludes WrtrI& for the m8nagemert (rt the r18ks faced ty the School. Govenh)Ts have established a framewort for the tden16ficatK)n. a$￿$m•nI aThJ control ol the major risks to which the School is eKpos8d. and they are assisted by th8 Senk)r Leadership Team. The GovgTrK)rs have an owoing rtsk management strategy. thich is given a w hyh c¢imprising: Temity re¥￿W ofth¢ top ii¥b currgnty faced byth? SdKN)I A full annual revww ofthe risks the SchTrJ mhjhl f&e Th6 establishment of sy3t8ms and procedures to mhN3ate thc6e rlsks identified The implementalion of procedures designed ¢0 M￿lMISe any ￿tential wnp8Ct thos8 rfsks mateiiali50. The key controls used bythe char￿Y Forni81 agendas for Cc¥nmltte8 and Board meotry Deta1￿ tem)s of reference for al c(rfnmitt08s Comprehenswe strategic plann1￿. Wotiry arKI man4ern￿t accryjnimg th4th reguLgr revfor8G8Sting arKI annual extemal financAal audit Establshed organIsa￿nal stnthre fjws of rowtlng Fom181 written pokies Clear authodsatlon and apKmal I&￿15 Vetting procedures as requlred by law for the protec1k￿ of thg vulnerab Aptryrlate trainirwJ for GONWTI￿ aThJ staff. Through thg risk monagoment processes esta￿lshad by the Sch(xl. the GoNtmors affj satisfied that Ihe ma risks identified have been adequatety milytad Th*we ￿¢￿ssary. Tha prlnc4)al rlsks ar*J urtertawitses managed 1hr￿ lh& measures thJrkng the peiKJd included: Th8 Impacts of govemment pokies WKI chww lo 18gtslatkn. sKh as lrnp￿n of VAT on f808 and removal of (charitabl8) tax refiefs. Affordability of fees by parents acrcw the sth. The impact of cft*rrycrime. wilh inckKl*)g the Introd￿￿On of l¥*>factor autheniication on Stsff devices. external pgnetrat*)n lestyyj, c>tsr insurnnco. regular staff traknirwJ. miew tèst￿9 of approwiate Sof￿vare inslalatknns. The rlsks of laihjre to c47mFty UIC¥4 r￿llements. p8￿CUla￿ In the light of amend￿ UKVI % toleran¢e, li respect of th¢ $th0￿.$ LM)ardtng ￿nmUnity. ￿l￿￿j to th8 withdrawal of the authorty to sponsor stLthnts from o¥wseas were mitigatsd by on-go•¥J staff trairmy and aIrdre￿9 and the external support of $pe¢iaFist inmiuyaticm sep41ces. Fulum domand for iNlependenl ¢du¢alh)n. parth%laty educalh)n. Pag8 17 ST MARYS SCHOOL CAMBRIDGE GOVERNORS. REPORT (copillNUED) FOR THE YEAR ENDED 31 AUGUST 2024 STATEMENT OF GOVERNOR RESPoNs￿lL1[￿s The GoNrmors (¥￿￿ arn a180 the thct(vs SdKK)l ￿ the KA￿)58$ of c£)mpany lawl aro ro8ponslble for preparing the Go¥Brnors' Report Irthlng the Strategic Rep(xt arKI th8 flnanclal slalemgnls in a¢cOrdan￿ vlth appllcabl& law aNJ UTht8d Acx(yJnt￿￿ Slaffldath (Uniled Gen8r8lly Accaptad Ac(>Junting Practicol. Company law roq￿￿5 the Govemors to prepare Statem￿ kjr oath financial ￿r. Under cunpany law th8 ￿Vernor$ rnust not approve the finarKial statgmgnts urkns are sa115fi8d that thoy gNe a true and fair view ol tho stsle of affairs of the Group and the Sca￿1 and of thoir incomlng resowces and application of resources, Includlng Iheir income and eypendilwe. that perThl. In weparing th888 finanual statements. the Govemors are req￿red lo: select sultaLle accountwy pokaes apptythem consisten obseNe the meth¢)ds and principlos of the Charkn SORP (FRS 102) make judgments and O¢c￿nting estlmates that ore reasonabl8 and prLMlent stale whether ap￿iCabl• UK A(xounffing Slwjwds (FRS 1021 have bèen followed, sut48d to material departures disclosgd and explai*d In the financial statements F¥epare fv ffinancial sL*ements on the golry Con￿ basis ￿lesS It18 Inapproprth to pr8sum8 Ihat the Group cOn￿nu0 in Ixtsh)ess. Tho Govemor8 are responsible for kegpwwJ adequats rec(Yds that 8T8 suff￿&Tht to shw and eX￿all the GTQUP and the Schwfs trartsacticms and thsclosè wtlh reas{￿￿)10 accurxy at any ￿me the financbl position of the Group and the Sch(M)l aThJ enable thèm to 6n8uro that th& ffftancial statements compty the Companlos Act 2(M)6. They are 81s0 resp¢Ktsible for safeguarding tha assets of the Group and the School aTh nce for tsklng reosonablg $1gps for preventlon and deledkm of fraud and other irregularlties. Dlsclosur• of Infornlatlon to audltw• Each of lh¢ pers￿$ who are Governa￿ at Ihe twne vthen th15 Go￿r￿)Is, Rewt is approvad has confim)ed Ihat.. so far as that GoveffK*r Is w•Me. thwe is no rd&v•rt a￿lit Irrfcrna￿n (rf dwltable group's auditors are unaware, and that Govemor has tsken al the steps that ¢xKJhl lo ha￿ been taken as a Go¥ornor in order to be aware any relèvant autht Inf￿mation establsh that the charftabb8 group'$ s￿rt0￿ are awwe of that I(￿math)n. Audltorn The audttivs. P8tor8 Eknrthy & hth)ore, ha￿ iMlic•ted thelr to conllnu8 in offi￿. The designaled Govemors will propose a motion rèappc*iting Ihe auditOf5 at a medlng of the Gowjmors. Aprrto¥&fj by ordor of the memb8r5 of Iho tx)2￿ of and *nad on th6lr behaw ty. Trustees Dale: 3o£S Pag8 18 ST MARYS SCHOOL CAMBRIDGE (A Company Llmlt•d by Guarant••) INOEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST MARYS SCHOOL CAMBRIDGE OPINION We have audited the finand81 ststements of St Mtys School Cambridg6 (the 'parent charitablé companVI Its subsmjiaries {the 'Group'l for the JEar ended 31 Ayist 2024 which comprise the Cortsolidaled Statement of FinarKial Activibes. ts Consolidatsd Balance Shggt. tho Schwl Balan￿ S￿91. the CorKilidaled Ststemgnt of Cash Flows and the related notes, inckjding a swnmary of sign6ficanl 8ccountlng poltcies. The financS01 reportlw fraMe*￿Ik Ihat has been applied in ther weparati¢M is applicable law and United Klngdom Accounung Standards, Indudlng Flnanc4al Repofting Standard 102 Financial Reporting Standard 8pplicable In tha LK and Republic cl Ireland. (United Kingdom Gon8raly knptad Accountwig Practic&l. In our opinion the financial statements: givè a true and fair ol the Slate Lrfthe Gn)up'$ and ￿ Ihe parent charitabkn ccrfnpanys affalrs as al 31 August 2024 arKI of th8 Group's nc4yning r8sourc8s a￿1 applicati￿ of resources. induthng its income and expenditure the ￿r then ￿ded.. have b80n [￿￿1Y rKepar8d in accrKthnce *ilh United KI￿d0M Genw* knopted Accountir¥J PractKg: aTrJ BASIS FOR OPINION We conducted our aud* In 8c£ordance ¥Ath International Standards on Audrtlng IUKI IISAS {UK)} and appllcable law. Our responsiblrties under tTrh)se standards are fLWthor d8scribed in th8 Auditors. rgsponsibliti8s for tho audri of the financial statements sect*)n of ow reprf We are indepermlent of the Group ￿ aC￿rdanCe with thg ethical requwements that arg rel9v￿1 to ¢)ur wjrt of Ihe fv￿n￿)al s¢atements li the Unitod Kingdom, Includlng tho Finonryol Re￿rtIng Councws Eth￿al Stsndard, and we have fuffil1th￿ other 8thScal responslblllti8s In accordance these requIremer￿. We ttwt the audit 8vNJanc8 ￿ tthè obtalned is wfficienl and appropriats to provide a ba815 ftx ¢>ur opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing th8 financial statements. we have u)ndl￿ed Ihat the (>)VerTh￿. use of going concern basis of aCCo￿lINj tn the preparalk)n of Ihe Ilnancjal StateM￿ts Is apwoprtate. Based on the work we have pèrfc*med. we ha4¢ fv)t idMtified any mat8r*l urwtalnllès relating to events or condibons Ihat. irbd￿ithal1y ￿ coll￿￿¥8￿. may (xst signfficanl doubt on th8 Group's or thè parent charitab18 companys abilty to continu8 as a going cofKem for a pericKI of at leasi trwgfve nN)nths from *then the financial statemonts are authorwd fty Issue. Our responsbllues and the reskkinsitxlitss CA the Gove￿￿ wllh rn8pect to goiThJ C￿￿rn are described in the relèvant s&lw)ns of this r¢p)rL Page 19 ST MARfs SCHOOL CAMBRIDGE (A C￿Y LlmStsd by ¢knt••) INDEPENDEMf Avorro￿ REPORT TO THE MEMBERS OF ST MARfs SCHOOL CAM8RIDGE (COPMNUED) OTHER INFORMATIOII The othef 1nfNm8￿n wnprtses thg yrformalK￿ in(*thd In the Annual Report Lthr than the financial statements and our Autlttors. ReF¥Yt ￿Teon. The GOvemc￿S are respDn$lble for the other inf￿Mation ¢ontained thin the Annual Rewl. OLY opkni(ffl on thg financial st*ements does not covor th8 0th8r infomiation and. except to the extent otheTh¥lse explicAty stsled in our report. we do not exwess any form of assuran¢e conclusion ther8on. Our r8sponsitMlity is to read the other I￿Orniati￿ arbj. in thlng so, conslder wthethar th8 other Inforniation is materiamy wiconsistent vlith the fw)8no81 slatem8nts or our k￿w￿d90 obtsyth kn the course of the audit, or 0th8rwis8 4pears to t* materfalty mL8Stated. If ￿ identify such material inconsistendes or appa￿￿1 materlal misst31ements. we are required to detemlno *thelhgr this gives rise to a materlal misstatement in the fln8ndal slalgments themselves. If. based on the vuk have pgrform8d. we cA>nclude that there is a material Mo￿¢8m0￿￿ th19 ottrw inf￿rnalI0n. required to rém that fact. We have Th)thiig to roKK*I i) th18 rewd. OPINION ON OTHER MATTERS PRESCRIBED BY ThE COMPANIES ACT 2008 In our opinK￿, bas8d on the work ffldthtak￿ kn the rA the amlit". Ihe information tyven In the Go¥emors' Repyl. indudes the Dir8ctor8' report prepared for the rposes of 1￿MpanY law. for the f￿￿ncIal ￿ar thè financkql statem8nts are prepared Is consistsnl the finandal statements. the Strategic ReF#yl and the Oirecth. ReF4)rt With￿ the Govern¢￿. Rew)rt have beon preparad accordance ￿ appllcablglggal reqwanènts. MAThERS ON WHICH WE ARE REQUIRED TO REPO1￿ BY EXCEPTION In the lighl of our kn￿edge and understarth& (rf tho ChWitab￿ cxxnpany and *s environment olAained In the course of the audit, ￿ have not id8nlil*d m*wlal msststements kn Ihe Str•t¢gi¢ Rép)rt or thè Dkectors. RerK*t ￿n¢￿ded w*hln Ihe Govem¢)rs' Rewt. Wo have nothlng to reiM)rt In rnspect crf matlorn in ralation to th Companlgs Acl 20(￿ requires US to reF*￿ to ycw rf. in our Onl(M: adequate fofour a￿lIt have not beon ro￿l¥ed frc*m bran(1￿ rnt ¥isitad by us: or the parent charilabie company fwwKial $t*em¢nts we not kn agraement the acc4)￿tIng records WKI turns. or certain disdosures of Go¥em(xs' remuneration sp8Gffied by law are not made; or we have not received all the iifmatk)n arnl explanations ￿ r8quTh for our audtt. Pagè 20 ST MARYS SCHOOL CAPABRIDGE IA Company Llmlt•d by Gu•rnnl•el INDEPENDENT AUDrroRS REPORT TO THE MEMBERS OF ST PAARYS SCHOOL CAMBRIDGE {COKllNUEO) RESPONSIBIUTIES OF GOVERNORS As explalned mor¢ fully In the Govern(￿. RespOrts￿lIrt￿ Slai8m8n( the GoNwrnors (*th0 aro also tho direclors of the charitabl8 company for the pu￿ of COmp￿Y law) are responslt48 tr the prepwallon of the finandal statomenls and for thng satisfied that thgy giN* a trug fair ¥i8w. and for such iniemal contrDI as thé Governors delemiine Is nO￿ry to enable Iha pr@parati￿ of fmanrAal slatsments that are free fr(m material mlsstatemerrt. whether to traud or erv￿. In preparfng ts finanual s18tements. the G0Ven￿￿5 are rOSF￿nSib[e for ass95sing th6 GroLP'S and the parent aritable companYs abilty to contirKJ8 as a gowu o)rKem. thsGlosiro, as applicable. matters rglateij to golng ¢onc8m and USI￿ Ihe g(Mng concem baw$ cl attlxmling unlèss Ihe Govemors either intend to liquidate the Gro￿ or the parent char6laL49 C￿PanY or to ceaso oparatKffls. ￿ have Tr) realstk allwrNqlive but to do so. AUDrroRS' RESPONSIBILMES FOR THE AULYf OF THE FINANCIAL sfATEMENTS Our oblectfves are to obtakn reasonable assurance aboul f**th th8 financtal statements as a Mtholo èrè fr8e from material misslatement. vthether du9 to fraud or errry, to issue an AudlloTS' Report Ihat Includes our opinion. R8asonable assurance is a high level of assLwance. but is not a guar8nto9 that an audll conduct8d In accordance with ISAS IUKI will aw detscl a material misststthmerrt it exlsts. Misstalem8nts can arlse from fraud or error and are considered materÉal it, indNklL￿lIY or In the &Jgr•Jat8, th8y could reasonably bo expected to influ8nc8 economic deciS￿n$ of tssars laken on th& ba￿$ of these fIn￿d81 stalemgnts. Irregularides, Induding fraud. are hstances of non-ccrfnKthance laws and regulations. We desi procedures in Ilne wilh our res￿nsib￿S. out￿￿ at￿8, to detecl mateiial mlsstatgments in r8SPgCt of Irregularities. including fraud. Tho extent to wthich our wo¢*dures are capabl8 of detectiry irregularfles, Inchjthg fraudls deta4ed bekw. thè engagement parkner wffjured that thg erwement team ￿llectiV￿Y had the approprlate wmpetence, tApablliti8s and skills to Klenlrfy or recognise non-umpliancg with 4)plcabl8 laws and roguLgtlons' identrfied which laws ond regulallons were signffKant in the c¢yrtext of tha ScM)o1. Thg laws and reg￿at￿)n$ we Consider￿ in this context kn*re Charities knt 2011. Companies Act 2006 and L￿atIon l$lath)n,' In addition. we ¢C￿ldered provisi(m ol oth8r law5 and regu￿￿on5 that do not have a direct effe￿. on the financial Statements trtrt compfiance with which mlghl be f￿￿arn￿18l kn th8 SclK)ofs and the Group's ablNty lo operate or to avoid matwal pen*. we obtaln8d an ￿d￿stand1rwj ofthe Grow)'s pokAèS and pr￿￿￿10$ on 03mplBnce vAlh laws and régulations. iicludng tlocumentat*)n cl any Insl8ncos rf rth-comphanc8: we assessed tho extent ol &ynplance TAith laws arnl regula￿n$ thntifiod above thrO￿h makkng Onq￿￿&S of man8gamenl Inspedw c(Th$w￿¢0. and we revlewed thè miiutes of Twstoes. m¢eknJs to hjentify any referencos to nO￿￿mplI￿n¢8 4•Ath laws and regulatlons. Page 21 ST MWiYS SCHOOL CAM8RIDGE IAComp•ny Umll•d by Guar•nts•) IfrXIEPENDENT AUDifoRS' REPORT TO THE MEMBERS OF ST IIARYS 8CHQOL CAMBRKIGE (COPMNUED) We assgsse(I Ihe sugceptibilty of thg S(knl's arHI Group's f￿?￿1￿1 Statem￿ to fflatarial misstatemenl, Including obtalnlng an underslanding of fr*KI MI￿1 c¢cur. by. makkng anquYi8s of man&38mant as to thre they cons￿re￿ th8re was su￿p1*)￿1ty to fraud. th8lr knOW￿ge of actual, suspected and a118ged fraud: ar41 consmlering the Intemal ¢(xtrcAs in pkn lo rwks d frawj and Th)￿OMpliarKO wllh laws and regula￿On5. To *lre88 the risk dfraud Ihrough bias and overrkle of contrd&. rkvmed anafyfj(*l proc•Juros kn *JwUfy any un￿￿81 or un8xpgcted relaOor*hlps: we evaluated the assUMp￿r￿ and judg8m6nts used by man4emwt ￿thin signfficant a¢{x)Un￿n9 eslimates and assessed v4hether these indiL*ted evwJ8nce of man&Jomènt bias.. and p&loTmed autht over the rlsk of maTrag•￿ ￿e￿Ide of In¢k￿kn9 testrig a sample of joumal entrl8s and other a4'ustments lor appr0prtatw1￿. evaluating th& t￿l￿o$S rat￿nal9 of signrfiGgnt In response to the risk of irregularitigs and n(Tr￿Mphan¢fj regufatrons. we designed procedures whlch indudad. tsjt were not l¥nited lo: reging fhwiclal statement di8thsures to u￿rIS￿￿j sur4>Jting dwJmertsl#)n; anwlrlng of management as to actual and pokntial 1itsgat￿ clalms: Because of th8 Inherent knStsUons of an Is a rlsk Ihat ￿ryI detect air Irregularitses. indudkng those leadiThJ to a materfal misststsmgnt ￿ the fThnclal 8t&ements or non-ccrfnpllance wth rogulathin. This risk increases the more that CAimpliarKe a law or rowlalion is removed from thè events arKI transactlons reflected In the finan¢ia stslgmgnts. as ￿ wll be less likety lo b8￿me avare of inslancAs of non-compllance. The rlsk is ￿s0 greator regw(*rvJ Irregularities ¢kn lo fraud rather than error, as fraud Involvas A f￿ther description of our resp￿stbilItieS lor the ol the financial $ts1oments Is located on lh8 Flnancvl Reporting Councfs W￿lte at." WWAf. . Tlxs fomi$ part of our Auditors. ReporL Page 22 ST M*JIYS SCHOOL CAMBRIDGE IA Company Lknlt•d by I￿4rnnth•j INDEPEhTIENT AUDITORS. REPORTTO THE hlEMBERS OF ST MARYS SCHOOL CAIIBRIDGE (CONTINUED) USE OF OUR REpoiYr Th18 report Is made sdety to thè thar*able c*mpanls rn￿b￿S. a5 a ithy. kn a¢0)rda￿ Chapter 3 of Part 16 of th& Companies Act 2(M)6. Our audr( *fjrk be8n undertaken so that we mlght slat8 to the charilable ¢ompanl$ rnembe￿ those matters 74Ya aT8 required to slate to them in an Au(litors' Rèport and for no other purpos8. To the fullest extent pemiW by law. do not accept or assume rnsponsibilty to anyone other than the chafftable company and ts mombers, as 8 Lw)dy. fw our audit VI￿rk. for Ihis roport. or for the opinions we have fomed. Nlkkl Lo•n (S•nlor Statsthy Audllorl for and on beh81fof PetorB Elworthy & Moorn Chartered AcGountants StslutoryAui*tors Salisbury House station Road Cambr￿0 CB12LA Date.. E g Lal? Page 23 ST IAARYS SCHOOL CAMBRIDGE (A Compwry Llmlt•d by Guarante•) CONSOUDATED STATEIJIENT OF FINANCIAL ACTMTIES (WCORPORATING INCOME APXI EXPENDITURE ACCOUPffj FOR THE YEAR ENDED 31 AUGUST 2024 Totsl nds 2024 Total funds 2023 fvnd• 2024 lunds 2024 INCOME FROM: Donalions and legac*s charita￿ actswi*s Othw tradlng acllvibes Investments 2291 11K6.902 17,045 19,330 1166¢902 1,230 11.070 272.137 13284.691 74.540 15,961 11A170 TOTAL INCOME 11670.423 28.115 11698.538 13.647.329 EXPEMDITURE ON: Raising fvnds Charitabl8 activ￿@S 230.822 12.997.877 230,822 1Z997.877 267.889 12,201,105 10 13.228.691 13.228.699 12.468.994 NEf (EXPENL¥TUREVI4CCIIIE BEFORE NET GAINS ON INVESTMEKrs N8t galns on Inveslments 15511376) 24115 M990 (530.161) 1,178,335 INCOhlE 1558,2ry 93.105 250.000 1250.000) 1465.171} 1.186,997 T IAOVEMENT IN FUNDS (308.276) (1S6.895) 1.186.997 RECONCIUATION OF FUNDS: Tolal funds brought forward Net movemert In lunds 17mS.985 (308.276) 1356.607 (156,894 18,952,S92 1465.171) 17,765.595 1,186,997 TOTAL FUNDS CARRED FORW 17,387.709 1.099.712 18A87.421 18,952,592 The Con801idated Statem8nt d F￿￿LIa1 ￿ wK*Kl8s all gawB ¥￿j Ioss0s recogithd kn the ywr. Th8 mtes on p8gés 30 to 80 part ofthose finarKlal statements. Page 24 ST PAARfs SCHOOL CAMBRIDGE (A Company Umlt•d by G￿rantee) REGISTERED NUMBE￿. 01840431 CONSWDATED BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 FIXED ASSETS Tangible assets Investments Social Investrnents 13 14 15 25293,610 584.292 24,016.451 511.411 450,0(N) 2Q327J02 24.977.862 CURRENT ASSETS Sl(Kks Debt Cash at bank and rn hand 518 472.035 3,733.072 17 323,323 1564.169 188l147 4205.625 CraditOTs: aM￿Thts f￿lIng due r year 18 (5.7W023) (4.932,1371 CURRENT UABILrriES TOTAL ASSETS LESS CURRENT UABIUTIES 12.899,876} (726.512) 23A28,026 24.2S1.350 cred￿0￿$". 8mounls falling after mo than one s*ar Provisions for Ilabllmles 19 21 (1746,605) 1194.000) (s,￿,758) {202,0001 TOTAL NET ASSETS 18.487.421 18.952.592 CHARITY FUNDS Restrfcted funds Unrestrkted lund$ 1.099.712 17,387.709 1.256.807 17.695.985 TOTAL FUNDS 18.487A21 18.952,592 Page 25 ST MARYS SCHOOL CAMBRIIKE (A Compw Llmlted by GuarantMI REGISTERED NUMBER: 01840431 cONsO￿ATED ￿L￿4¢E SHEET (CONTINUED) AS AT 31 AUGUST 2024 Thg Governors ackno%￿ethJe their reS[￿SIt￿li1l8S for compl*w¥ *ith the reryjlrements of the Act wllh respect to accounllng records and preparatKffl of finanrial statements. The financial stat8m8nts aFvroved arnj ￿t￿￿ed i8suè by Gthffjrnors and signgd ￿ thek bghoir by.. Date: rnAy AGI£ Tho notss on pages 30 to 80 forn) part ol the88 fhMk%lal Statern￿. Page 26 ST MARYS SCHOOL CAMBRIDGE (A Conwny LImIl￿ by Guarnntw) REGISTERED NUMBER: 01840431 SCHOOL BALANCE SHEEr AS AT 31 AUGUST2024 2023 FIXED ASSErs Tangible assets Investments Sodal inveslments 13 14 25393,010 584.296 450.000 24,018,451 511,415 450,OCKI 15 2￿327￿06 24,977.866 CURRENT ASSET8 Debtors Cash at bank arKI in hand 17 230A01 2.564,169 396,996 3,733,072 17945TO 4.130.068 Creditors.. amwnts falliig due wknln ono year 18 {5.693A38) (4.858.505) NET CURRENT LIABILMES TOTAL ￿$sErS LESS CURRENT LIABILITIES 12.898.768) (728,437) 23h20.138 24.249.429 Credltors.. amounts falling aftor more than one Provisions for liabilities 19 14746.605) (194.0001 {5,096,758) (202.000) TOTAL NET ASS￿5 18M8B.533 18.950.671 CHARITY FUNDS Restricted funds Unrestricted funds 1.101428 17,3W105 1.259.323 17.691.348 TOTAL FUNDS 18M88.$33 18.9SO.671 Page 27 sr SCHOOL CAMBRIDGE (A C¢xwny Umlt•d by Guwanl•• REGISTERED NLIIIBER: 01841M31 SCHOOL BALANCE SHEET ICONTINUEO) S AT31 ￿GusT 2024 Th8 School's net movement In funds >Thr was £(462.138) {2023- £1,198.1801. The Govemors acknowledge their Tespons1l￿es for comF+Ow Ihe rerwlremw￿s cl the Act with respect to accounting records and preparaticffj d frnncial stalem￿. Thg financlal statements were approved lor15sue by the Gov8rnNs and signed ￿ ther behalf by: Chalr rustses Dale.. 3t> aol) The notas on pages 30 10 60 lom) pwl ol the88 fhwthl 8Ialem￿ts. Page 28 ST M*Rfs SCHOOL CAMBRIDGE (A Company Umlt•d by Guar•nts• COMSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Not• CASH FLOWS FROM OPERAMNG ACTMTIES Net cash generaled frcth operating *r4ilws 25 1.038.313 1.763.072 CASH FLOWS FROII INVESTING ACTMnES Divldends, Int8r8Sts and rants from inN*stments Proceeds from thg sal8 of tangtilo f￿1 assets Purchase of tanglblo fixed assets Prcreeds from sale ol investments Purchase of investmwts Movement In cash hdd ot In￿Or$ 11.070 1,500 (1.837.545) (1,458.405) 362.829 125,981 1372.514 (143,693) 1,795 4.679 15,961 NET CASH USED IM INVESTING ACTMT {1.832.866) 11N55.477) CASH FLOWS FROM F*4*J4CING ACTMTIES Repayments of bOm￿l¥j 1374,012) {315.9SOI NET CASH USED IN FINANCING ACTMTIES 1374.0121 1315.950) CHANGE IN CASH AND CASH EQu1V￿ENTs N THE YEAR (1,168.565) 3,713,376 (8.355) 3.721.731 Cash and cash eqL1v￿ents at the beginnirvJ of Ihe yaar SH AND C￿sH EQUIVALEKfs AT THE END OF THE YEAR 1544811 3,713.376 Th8 notes on pages 30 to 60 foThn part of these I￿￿￿181 statements Page 29 ST MARYS SCHOOL CAMBRIDGE (A COMP￿ Umlt•d ty Guarant••} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGiK8T 2024 GENEIIAL INFORhlATION Th9 Schwl is a company knited by ￿an109. I1￿ In Erw and Wales. The m8mbers ￿th0 Company we Iho Govemors named txt page 1. In Ihe event of the School bthg up, the IlabNrty In respect ofthe gLwanle& is knlted to £1 per membw of thè S¢*K￿. ACCOUNTING POUCIES 11 BASIS OF PREPARATION OF STATEMEKrs The financial st818ments have been prepared in acc(wdanc• with the Charthes SORP (FRS 102} - Accounung and ReFx)MlrvJ by Charltlgs: Slatement of RerxKnmended Practlce applloable lo charlt18S preparing their accounts li accordance with tho Financial RepDrtiThJ Standard applicabl8 In the UK and Republlc of Ireland (FRS 1021 (second edition Ocaober 2019). the Financsal Rep￿ting Standard applicable ￿ the UK and Republic d Ireland (FRS 1021 and the Compani8s Act 21)06. st Ma￿$ Sch¢Jol Camt*klgg r￿ots the thitK4b d a wknlic enbty under FRS 102 arthj Gr￿p Is a PulAlc Benefit Group. Assets Ilabl1￿e5 arn 1nit1al￿ rectynL8ed at hi8torlcal cost or transactwjn valu8 unless Olhel￿ 81ated in tho ret8vant a(xounting policy. The Consoldated Statement cl Financial (SOFA) and Consolidatod Balanca Sheet consolidate the fnan¢ial ststements of the Charity arKJ its sub51diary undertakings. results of the subsidiaries are con$￿al0d on a ling by Ing basis. St m￿￿S Junl(* School Lim*ed arKI St Marls School Intemotional Limrted arn currenty th)fft)a The Consoldatad Statom8nl of Financlal Activltes indudès th6 Group's share of the plnt venture's ng1 income or exponthturn usiryJ thg aquty accounting basis. The Charlty has taken aifrrfanlage of ￿ exefftpb￿ sec*lon 408 of Ihe C￿￿panI&S Act 2006 and has not presented Its own Stat8m8nt of Financial Actfvitl88 In these financlal statsments. The charfty has also taken a￿¥￿tage CA the exemptkn available to qualrfwng entilies not ta prepare charity onty 5taiement ol cash flcws or di8ckw related paty trartsactions with group c4Jmpanies. 2.2 GOING CONCERN Whle ￿ axlemol envlronment prasents a number d challwges, Yhcluding the intrtrjvclion of VAT sch￿1 fees arwj the loss of business rates rellef. the GovemLVS confimi that the gokng concem basis of acco￿ting is appropriate for thase finan(xal ststem8nts. The Gov8mors have ba￿ actwely gaged in developing resp￿¥8$ lo these pressures. aThJ actions havg already been taken to safeguard tho School's miswn and financial health: Iheso actions incl￿9 enhancing opgrational effic1￿￿08, ravi￿r￿j n￿*S8ontIal expwditure and Incom streams. These plans we deslgned lo ensure the Schfy)fs resiNence and abllrty to meet ils oblKJatron8 as th8y fall duè for at least ts next 12 months ftc•n the date cl 4woval of these fnandal slatem8nts. Page 30 ST MARfs SCHOOL CAMBRIDGE (A Company Umlt•d by Gu•rnntse) NOTES TO ThE FINANCIAL STATEMEKrs FOR ThE YEAR ENDED 31 AUGUST 2024 ACCOVMTING POLICIES (CONnNUED) 2.3 ￿COmE AJ income Is recogni5ed once the Group has ontiuèment to the Income, it is probable that the Incomp will t¢ rt¢eived and the am￿nI rec8p4able can be maasLtred reliably. The recognllk)n of thcome from begac*s is ¢knp8Thlent on estabtrthing entiuoment. the prnbabllKy of recept and the abity to estimat8 Wbth sufficient accuracy the amount receivable. Ewdence of titlemant to a legacy exlsts I￿8n the i>wp has suffiLi8nl evIder￿e th81 a grft has been left to them (through knowledge of the 8x1slen￿ (4 a valid Mryll and thè dèath of b8nefa¢torl 8rKI th8 executor Is $alisfied that the proFety in weslN)n wil not ￿ required to satisfy daims In the estate. Receipt CA a l&Jacy must be r8cognisad it IS tKobable that11 will be receNed and the fair value of the amount rttervable, vthtch ￿411 genoralty be Ihe eXp￿d cash amount to bg distributed to thè Group, can bo roliatAy m&wrnd. Fèes receivable and charges for usg of F￿158¥ are accowtsd for kn the p8rioI In wthlch the servicg 15 provided. Fees recefvable arn ststed after deducting allowan￿, scholarshps and othtsr r•misS￿n$ granted by the School. bul kndud8 contributions received from Restricted Funds for scholarships and bursaries. PayTnents rttai¥ed resped of fLrture f88s we deferred In cr8d6tot8 arKI are rel￿ad lo thè Statwnent of Financial Aclivikn in the re￿11 tem). 4￿PtsnC0 deposlts Ac£eplance deposts arg da[￿sIts pknd Twhan wpllsJ(th the School aThJ are refunded at the end of the final temi after deduc￿￿ any ￿ts￿nd1ftg debts. Deposts held In oth8r creditors undl réfunded. All deposits rxjnsidèrad immadialgky rotumable should a student leave in accordanc8 Ith tho approwiate tern￿ arnl ￿￿Tefore are al h8kl a8 du8 wkNn cme ￿r. Charges for 9￿)d$ seNk*s ty St Marfs Slknol Entwk8s Llmited arg aG¢ NOTES TO THE FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 AVGVST 2024 AccouKfiNG POLICIES {COPfflNUED) 2.4 EXPENDITURE Exp8rKlilLY8 is recognisod crfKe there is a 109al or Ccrf¢8tr￿Ive oblgalN)n to treA￿ler economlc bgnefil trj a thlrd paty, 11 Is probaAe that a transfer of ecoM)mic b￿errtS wll be requlfyd In seluemenl and the amount of the oblgalK￿ ￿ bè m&%ured reliatAy. Expendi￿re is dasstfied by tity. The ts)sts of each a¢tsvity affj made up of the total of dirgct costs and shar8d p)sts. inClud￿g SUPF*Nt costs in¥Dlved in urKlertakYhg each acts￿ty. Oirect ry)sts attributable to 8 single livity are db)Gated threw io that aCti￿ty. Sharod cosls whith c￿11￿￿18 to more Ihan one actmty d suppcrt costs vrtlich ar8 not attit￿tal￿O to a siryle 8CtNty are apportloned b8tsveen those livities on a basls conslstent the use of resoLwces. Expendlture on raislng funds èXPthML*wo inoKTgd by the Group to ras8 fLWKls lor Its charitabl8 purpos8s arKI wKlud8S I)￿￿ of al adivities events and noTh￿S￿lable tradlng. Experbjiturn on ch￿lIabl8 activilies is Ir￿ulTed ￿ direc4ty urbjertaking lh8 actiwtses wthlch furthor the EX[W￿lI￿re on govemance costs Inumd ty the Group Is Induded wilhin Support costs. Govern￿￿ eosts are those incwr8d in connec￿n th8 admintslration of the Group and All eXp￿ditUTe is knchJsl¥p of weco¥ernble VAT. 2.5 TANGIBLE FIXED ASSETS AND IWRECIATK>N Tanglble Ilxed assets are inibany rectsjnised at ¢ost. After re¢4)gnilion. under rnst mtyjel. tsngible f￿ad ass8ts are measured at rthl loss acc￿Ulat8d d8pr8riatton and any accumulat8d Impalm￿nI losses. All costs wKurTed to Lyuig a t￿gibl0 fi¥od asset Into 118 Iniended *rJrklng c￿di￿On shoukl bg includod in the measurgment of cost. LarKI Is Tr)t dgpredated. Assets in course of constTuclrcth at costs incurred to date. Daprndation on thes8 assets is not charged untH they are brWI into Use. At each reporting date the School assesses Ilwe Is any Indkatlon of Impalmlert. If su Indication exlsts, the reo)veratAe amourt of ￿ assel Is detemilr*d to be the hTrahar of its fair value less costs to se118nd Its vakn kn use. An knpairment loss i& r8cognlsed *ther6 thè canyng amount exceeds the reu)¥erable amount. Impairmant are rocogThs8d in th8 Stal8m8nl of Finan(xal Depr8ciatAJn is thargad so as to the (x)st d tar¥Jiblg fryed assets thelr resldual value over thgir estlmaknj usefvl Froghold property -2.5%￿¢051 - Over ￿[k>j d tt￿lOaSe or SO years If le88 - 25% ty) rxKst - 20% c•) cost - 25% on cost Molor vthicl&s Flxiures and fftungs Page 32 (A Company Llmlt•d by Guarant••) NOTES TO THE FThIANc￿ sTATEmEP￿s FOR THE YEAR ENDED 31 AUGUST 2024 AccoupifiNG POUCIES (COIfflNUED) 2.6 INVESTIIENTS Fixed ass8t investments are a fc¥m of lknanclal knstrument and we initialty rocD3nised al thelr transaclkm cost sthequenlty m&wured al lair value at th9 Balan￿ Shget date. unless the value cannot be meagjred rgliably in wlKh ￿se il is measured al cost less impaiment. Investment gains and knsses. ￿har urwealisad. are cA￿nb￿ad and presented as 'Ga￿s1[LO$se$) on investments. In th8. Inv•stments in subsldiarigs are * cost lass for Impaimient. Social investments ￿nprISe a programme related Imwlment in a joint venture and ￿ held at cost less Impalrment in tho Sch￿r$ acCC￿ts. Th8 nature of thè agr88mgnl is such that the School's share of the r*1 assets cl the venturg is limited to the value of Ihe initial investment Ih8r*or8 the valuation in the Gmup aCC￿nts is linrted to Ihe inrtial inv85trnent value. 17 STOCKS StLKks are valued at the k)wer and nat real￿19 valua after making due allowanc6 for obsolate and slowrfnothg stocks. 2.8 DEBTORS Trad8 and other debtors arn recognlsed at the sgtuemenl amount after any tr&le dIsco￿t offer8d. Prepa¥T￿nts are valued at the amrAJnt n8t of any trado discounts due. 2J CASH AT BANK AND IN HWID Cash at bank and kn hand In￿deS cash and short4erm hlghly Ifjq￿d Investments wrth a short maturity of thrge mLMth$ or tess frrffi) Ihe date d ac¢wisitson or openirvJ of the deposrt or slmiiar Page 33 ST MARfs SCHOOL CAMBRIDGE IA Canyany Llmlt•d by Guarantso) NOTES TO THE FINANCIAL STATEIIiENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES IGOIMNUED) 110 UABILMES ANO PROVISICINS Liablrtses aml provlsk)ns are recognise(I th8re 15 ￿ obligatlon at th& Balanco Sh¢et date as a result of a past event. it is yobable thot a transfor irf e(*¢Jmic ben￿ wll b8 required in sotdgment. and Ihe alr￿n1 of the setllement can bo ostlmatad reliatAy. Llablltles are recognised al Ihe #m￿nI that th8 GrcwJp an￿pales il will pay to $eW8 th8 debt or thg Provisions are m6asured at Ihe best estimate cl amounts rewred lo $0tt19 th8 obligation. Wh&re the effect of ts time value of money is material. the wovision is based M the present value of those amounls, dIsco￿￿j at the prfrtax discount rate that refi8ds the risks 5pecrfic to th8 1l8biltty. The un￿ndIng of the disC(K￿l is the Cons0￿ Slatgmgnt of Finandal Adv6I8s as a financ8 cssl. Prnvisic￿s are rec£¥JnLsed th1￿1 the Gr￿P has an 0￿￿38t10n at the fekhYtkMJ dato as a r8suIt of a past event whith it is wcthble resldt in the transfer c+ econom￿ beneffts and the obluation can bg osl¥nateil reli*ty. Prowsith)s are measure al ts besl estimatè el tho anounls requirad io sottlo thè Ot￿198t10n. Where Ihe eff¢cl of the tim6 va￿8 ol money is maknal. th8 prtivts￿n Is based on Ihe present valLFe of those ounts. disr￿Unted al the prtrtsx dlscowl rate that rellects the risk$ specific to the Irablllty. The wknding of the disc(xwrt is rncowis•J ￿thIn inlerest pay*b slmkn charges. Furth8r dsclosure ry) ncts 21. 2.11 FINANCIAL INSTRUMENTS The Group ¢)nly has Ih)andal assets and fmancial fHblkns of a klnd that quaffy as ba*¢ financlal struments. 8aslc fin￿181 Instrwnents are initialty rncognlsed at transaction value and subsg4ugnty measured at their solJem8nt valu8 the exc•plion of bank loans vknich a 8ubsequenty M￿S￿r9d at aM(¥t1￿ &Jst uslry tho offedi¥e ￿terest molhcAI. 112 PENSIONS Th8 Charity operates h¥0 $d￿me$, one belfvJ thg Governm￿1 eontrolled dafined bonefil sch8mè Teachgrs. Ponston Scheme lor acthrn￿ staff and thg other a d8fined ¢>)ntribullon sthema for other Indlvhjuals. Assets of 8ach scheme are hehj separal8ty from th¢)se of the Charity undèr Indepwvjgnl c¥)ntrol. The Chaws 1X￿1tXrtl￿bS exp8n*J in the ￿ar n ¥rtMch they ar¢ Incurred. The Tea¢he(s' Pensbn Scheme for acajemic staff 15 a murtkemplosw defined bgnefit plan f￿ wh thè Schwl cannot ascertain Its share of as$0ts * katilit*& The dètams of tho sch8me are giv8n In note 28. Schc*A is resp￿8*￿0 a shara d tho dgfioyt lundbw ¥*d the detals of this are set (wjt kn rKte 21. P#gé 34 ST PA*RWS SCHOOL CAMBRIDGE IA Company Umll•d by Guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES (CONTINLIED) 2.13 FUND ACCOUfrrnNG General funds are unrestrKled funds arg awlable lor use at th8 thscretion of the Gov8moTS in furtherarKe ol the general L￿lectNeS of the Gro￿ and ￿thIch have not been d&swJnaled for other purposes. parbcular puiposes. Tho alm use of each d8swjr￿ fund Is set oul In nolos to the financS81 statements. Restrlcted funds are funds *thich are to b8 used in aCC¢Kd￿ ￿ spgufic Testittions Imposed ty donors or whiL* have been ralsed by ts Group for particular purposes. Th& costs crf raisiny and adminislemg such funds are charged against the spgufK fvnd. The alm and use of oach restrict8d fund is set oul in thg notss to the financ4al statements. Investment Inc4)me. gakns and Iossos are alkrfxted to the appropr￿10 fund. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEIAENT Estimates and judgments are conlinuaty avaluatad arKI are based (m hlsloricol experlenca and other f8cth. induding oxpectations of future evgnts that are bèlièved lo be r8asonabl8 under the clrcumslances. The Charity and grcwp make estimates and assumplK)ns concemlng the fulure. The reBukng 8ccounti¥J estwnatas and assumplh)ns wll, by defin￿On. seldom equal the related aclual results. The present Val￿ of the Teachws Pensk)n Schema dafv*d benefll Ilabuty d8pend$ a n￿nbor ol factors that ar8 detwmined on an actuarlal basls wng a variety of assumptK)ns. Th& assumption$ used In determlnkng the net cosV(n¢JJme} for p8nsKMs includo thg discount rate. Any changes in those assumOKJns, wthkh are disck)sgd in Nots 29. knpaci Ca￿￿1ng amount of p8nslon Ilabllty. The GO¥err￿ u)nsiJw ts 0slkn*kn ol ￿ten￿ wnpalmwrt of the Joint Vontur8 Value to be a slgnKicanl estlmale. The Charity has ￿nSidered the m8nagoff￿t reports d the Jolnt Venture and ils ojrronl operations and do not consxl8r that any impaknient (rf the investment 15 currenty necgssary. The Govemor5 do 77Ot ￿￿ider there arg fLNth¥ lxilkal Judgments or sourc8s of eslknatlon uncertainty requiriThJ dlsclosure the a(xounlrMJ arml that set out above. Page 35 ST MARYS SCHOOL CAMBRIDGE (A Company Lknlt•d by Guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGVST 2024 INCOME FROM DONATIONS LEGXIES Totsl funds 2023 funds 2024 funds 2024 2024 Donatk)ns 2.291 17.045 19.336 272,137 TOTAL 2023 22.137 272,137 INCOME FROM cH￿TABLE ACTivmES Unmlrlcled fundi 2024 Totsl funds Total fvnds 2023 Gross fees Less: Total i￿rSaTiO8. g￿ts arKI akwnces 13,3Ce.720 13.309.720 14,007.828 (642.818) 1642,118) (723.137) TOTAL 2024 12.686.902 12.886.902 13,284,691 TOTAL 2023 13284,691 13284,691 Page 36 ST MAAY'S SCHOOL c￿BRIDGE IA Comp•ry Umlt•d by Guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YE￿1 ENDED 31 AUGUST 2024 INCOME FROM OTHER TRADING ACTivmES Income frol 2024 No. School 2023 No. EduCatiC￿ & Weware Administratio 113 113 23 23 EstsblIshm￿t Trading 23 160 160 The numbor of empltsw *4Ktse empk)seo (•xcknling afftplo￿r P8nSK￿ wsts) excaeded £60.000 was: Group 2024 No. Group 2023 No. In the band £60.(WJ1- £70,oIY) In the band £70,(NJ1- £80,0 In the band £80.I¥J1- £90,0(Y) In the band £100.001- £110.000 In the band £110.001 -£120.000 In the band £140,001- £150,000 In the band £150.001- £160.000 Tha kay management p8rsonn81 of Ihe Group oimpiise He•Jmlstress, tho Deputy Haad. thé Bursar. the Oeputy Head.. Pastoral & Boarding. the Assi51ant He•J: Director of Studies. Assistant Head.. Enrithment and Pwlnetships ar¥J the Head of Ihg Junior Sthty)l. The totsl employee beneftts of the koy management ￿rSonn￿ of Ihe Charity £1,(KJ9,031 (2023: £810.3751. No truslees receNe(l any remUrWatK￿ cw benèfits wi from the Charity {2023: £Nil). Page 41 ST PAPRfs SCHOOL CAMBRKIGE (A Compary Umlt•d ty Guarnnts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. TANGIBLE FIXED ASSErs GROUP ￿4D SCHOOL Long4•rm Flxlur•• F¥••lMJld l•as•hold Iljotor and und•r property IKoperty vehlclo8 fltlkngs construcllon Totsl COST OR VALUATION At 1 September 2023 18.60.949 42a4,72S 237M04 4,820,810 Addit*)ns 1,S81,783 251,256 132,340 Dispos* Transfers b8twoen classes 1,263,831 29,277,119 1,905,385 122,990) (U990 1263.831 {1.263.831) Ai 31 August 2024 21￿15.563 4,5J5.901 214814 4953.156 31319,514 DEPRECIATION Al 1 Sgplember 2023 Charge for the 5wr On dIsp￿lS 995,IM1 1.125.084 207.006 2.932.937 72.687 18.OTT 552,874 122.990> 5260.668 688.226 122,990) At 31 August 2024 1,039.629 1.197,771 202,69J 3M85,811 5825,904 NET BOOK VALue At 31 A￿U8¢ 2024 20.47VJ34 3.338210 12.121 1M67.34S 25.293.610 At 31 Augusl 2023 17,674,908 3,159,641 30.198 1.887,B73 1263.831 24.016,451 Page 42 ST SCHOOL CAMBRIDGE IA Comp•ny Llmll•d by Guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR ThE YE￿ ENDED 31 AUGUST 2024 1& FIXED ASSET INVESTMENTS Llstod C•sh held at Inv•stm•nts Investments Totsl GROUP COST OR VALUATION At 1 September 2023 Additions DSsposals Rava￿alKIn5 487,477 372.515 (345.690) 47,851 23834 511.411 372.515 1347,485) 47.851 11.795> AT 31 AUGUST 2024 562.153 22,139 584292 NEf BOOK VALUE AT 31 AUGUST 2024 5611S3 21139 $84.292 AT 31 AUGUST 2023 487,477 23.934 511.411 Page 43 ST MARYS SCHIM CAIIIBRIDGE IA CMy)y Lknlt•d by Guarants•) NOTES TO THE FINANCIAL STATEPAENTS FOR THE YE*A ENDED 31 AUGUST 2024 14. FIXED ASSET INVESTMEpirs (coiir*iuED) In￿SIMents In sub•ldlary Usl•d C•8h h•ld •8 Total SCHOOL co￿ OR VALUATION At 1 Sept8mbor 2023 AdditM)ns Oisposols Revalua 63.957 487,4TI 371515 1345,690) 47.851 23,934 5T5.318 3n,515 1347,4851 47,851 (1,795) AT 31 AUGUST 2024 63J57 561153 22.139 648.249 p￿RmENT At 1 sept￿)ber 2023 63,953 AT 31 AUGUST 2024 63.953 NEf BOOK VALUE AT 31 AUGUST 2¢y24 5Q.153 a139 AT 31 AUGUST 2023 487.4n 23,934 511,415 Paga 44 ST MARYS SCHOOL CAMBRIDGE (A Compfjny Llmltsd ty Guarant••) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& SOCIAL INVESTME1￿8 GROUP AND SCHOOL Investment In lolnt v•ntur• Total COST OR VALUATION At 1 Septsmber 2023 4SO,000 49).000 At 31 Augu*1 2024 450,000 450.000 NET BOOK VALUE At 31 August 2024 450.000 At 31 AwJust 20Z3 450,000 In Octot*r 2019 St MarYs SchcKA CafflbrbJg8 8rtsrod into a pjint ￿nIUM 7Arylh Homerton College caled Ward Griffin LLP. The purposg Lrf the LLP is kn wnprove Ihe sports facilties on Long Ro&J. Cambrldgo aTrJ anatAe both H￿lert￿ ar#J School use of the factss. Dwing the th8r8 74bYfo resou￿ {2023: £NII) and £40.￿0 rescwrces gxp8nded (2023: £50.2401 in ￿￿ra of theicinl venturé. 16. STOCKS Group 2024 Grwp 2023 Goo(Is for resale 518 Pag6 45 ST MARfs sC￿￿10L CAM8RIOGE IA Company Lknltsd by Guaranteo) NQTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2024 17. DEBTORS School S¢hoc4 2023 2023 DUE WITHIN ONE YEAR Trade debtors 34183 107,833 2.710 361.492 3S,183 7,624 187.594 107.833 2.711 286,452 other dabtors 210.516 323.323 472.035 230,401 396.996 18. CREDITORS: ￿Aoul￿ FALUNG DUE b¥trHIN ONE YEAR Group Gro Scliool 2024 2023 Bank overdrafts Bank I Trade c¥edltors Amounts ¢yNed to group ur#Jert￿￿ Other Lwtion and soclal secl 19JS8 365.030 19,6 388,889 365.030 388.889 30,449 161A36 174.$84 154.601 1J30399 1.789.n8 1,930299 3J11MI 1530.936 3,212,959 69,814 159.255 1.789.738 2.450.809 S.788.023 4.932.137 5.693.338 4.858.505 Thg bank loan 15 securwl ¢)4w of thé Sctthfs wop6rti88 and b8ar8 Interest at a rat8 d 3.52% p annum and Is repay01￿8 in instatrnents frcrfn March 2018 to Marth 2036. Page 46 ST MARYS SCHCM)L CAMBRIDGE IA Company Umlt•d by Guarnnl•o) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2034 19. CREDITORS: AMOUNTS FALUNG DUE AFfER MORE THAN ONE YEAR Gmup 2024 Group 2023 School 2024 Schoc4 2023 Bank loan 4.746.605 5.096.758 4.746.605 5.096.758 The b0rN* loan is s¢cured over one of Ihe pr(vèrtl￿ boars intor8st at a rats of 3.52% per annum and Is rgpayatk from M￿1 2018 to Marth 2036. 2024 2023 Loan pa￿ble falllry due in more th 1 year but less than 5 yews Loan payable fallwvJ due after 5 yurs Totsl 1.592,344 1.555.556 4.746,405 5,096,758 20. DEFERRED INCOME Group 2024 Group 2023 School 2024 Schts)I 2023 Oeferred In￿Me al 1 Sept¢mbw 2023 Resou￿8$ deferred durin9 the year 1140.550 2.007.597 2.140.550 2.Ih)7,597 1630.027 2.140.550 2.630.027 2.140,550 12,140,550) (2.007.597) 12.140AS0) {2.007,S97) OEFERRED INCOPAE AT 31 AUGUST 2024 2.630,027 2.140,$50 2.630.027 2,140.550 Page 47 (A Coryany Llmlt•d by GUar￿t0•) NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2024 21. PROWSIONS GROUP WID SCHOOL P•nslon doficlt lundlng provl•lon At 1 Sèptember 2023 Net movement 202.000 (8.000) 194,000 The Sch(xil is a member of ts Pensions Tn￿t dth8d b8n8ffl Pen$￿Th sd*m& for academic slaff and ks rnaking cothbukns lo the recovery pkn now set up to elimiiate the actuarlal dèficit adslng on the $d￿rn0. Further Infomatk*n ty contsind ￿ N(ts 29. Page 48 *4 C¥ sw WJ tyj 111 2 2 2 ST IAARYS SCHOOL CAMBRIDGE (A Com￿nY Umlt•d by e￿alan￿o) NOTES TO ThE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2024 SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEPR 8d•nc• at 1 S•pt•mb•r Balance at 31 August 2024 Trnnsf•v¥ lo￿ 6￿￿{10*91 Designated funds General funds Restrkled funds 1S.809.261 1.091.724 1,886.724 11670A23 113228.P•991 (841,724> 16.900.985 486,724 1,256,607 115 1250.000} 64,990 1,099,712 18.952.592 11698.538 113.228.699) 64,990 18,487A21 SUmM￿y OF FUNDS. PRIOR YEAR 8alarth at 1 September Bal8nrA at 31 August 2023 Transfe Income EXp￿d*U18 GakV(l¢Jss) Deslgnale lunds General f Reslricted fvnds 15.555.075 254,186 1,225,820 13.381.368 112.466278) (254.186) 15.809.261 1.886.724 984.7fKI 265.￿1 12.716) 8.662 1256,607 17.765.595 13.647J29 112,468.994) 8.662 18.952.592 Page 54 ST IAARfS SCHOOL CAMBRK)GE (A Company Umlt•d by Guarant••) IIOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2024 ANALYSIS OF NEf A8SETS BETWEEN FUNDS 4ALYSIS OF NET ￿SErs BETYIEEN FUNDS. CURRENT PERIOD Unr•strlct•d R•strlct•d funds funds 2024 2024 Total nds 2024 TwJlI￿O r￿ed assets Ffjxed asset Investments Social investsnents Current assets Credllors due wlthwi one y8ar Creditors due in more than one Provlyons for IlablHlies and L*arges 25293.610 25.293.610 584.292 450.000 2,888,147 (5.788.023) 14,746.605) 1194,000) 584,292 450.000 65.420 2.822.727 (5.788,023) {4.746.605) (194.OtKI) TOTAL 17.387,709 1,099,712 18J87.421 ANALYSIS OF NET ASSETS BEfbvEEN FUNDS. PRIOR PERIOD Unreslricted Restricted funds funds 2023 2023 T￿81 funds 2023 Tangiblo fixed assets Fixed ass0t investrnenls Social Investments Current assets Cr*Jitors due 7A*hin on9 >•ar Credllors due in more Ihan ong Provlskns for Ilabkns d￿rge 24.016,451 24.016.451 511.411 450,000 4.205.625 <4,932.1371 {5,096,7581 1202.0001 511.411 450.000 295.196 3.910.429 {4,932,137) {5.096.758) {202.0￿) TOTAL 17.695,985 1,256,607 18,952,592 Page 55 ST IAARYS SCHO(X CAMBRIDGE (A Company Lknlt•d by Guarant••) NOTES TO THE FIIIANCIAL ￿AT￿lIENTs FOR THE YEAR ENDED 31 AiIGUST 2024 RECONCIUATION OF NET MOVEMENT IN FUIIDS TO NEf CASH FLOW FROII OPERATING TIVITIES Group 2024 Group 2023 Net incixneloxp8ndilure pwknl (as por Statement cl Fi￿n¢￿al Actiwtsesl 1465.171) 1.186,997 ADJiISTMENTS FOR: DeprecIa￿On charyes Gahs on Investments Oividends. Intwests and rents from iNestM￿ts (Profityloss on the sale d flxèd assets Increase in stc 688226 164990) 111,070) (1,500) (13n 148.1)02 752.863 18,IXIO) 648.868 18.6621 {15.961} 3,142 (166) {92,099) 69,953 129.000) De¢re8sel{incr8ase) Yk det Increase in ¢re¢*tors NET CASH PROVIDED BY OPERATTrIG ACTlVtrE8 1,038.313 1.763,072 26. ANALYSIS OF CASH AND CA8H EQUIVALENTS Group 2024 Group 2023 C88h In hand Overdraft f&llty repa￿b￿ demand 2.5M169 119.358 3.733,072 (19,6961 TOTAL CASH CASH EI2UIVALEtirs 2.544.811 3,713.376 Page 56 ST IAARfs SCHOOL CAMBRIDGE (A Compwry Lknllod by GuThts•) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 27. ANALYSIS OF CHANGE8 W NEf DEBT (Ilh•r non- cash At31 chang•$ August 2024 S•ptemb•r 2023 Cash Cash at bank and in harKI Bank ov8rdrafts repaya￿8 on d8marKI Debt dua V*ithin 1 y8ar Debt due after 1 3,n3.on (19.696 {388.889 (S.W758) {1,168.903) 338 2W,189 (19.358) 23.859 (365.030) 123.859) (4746.605) 374012 (I,T11271) 17x553) (2,566,824) CAprrAL coMMrrMENTS Capitsl Commitments. relatiry to the main sita (knwkynont. D)ntract8d for t￿t not Pro￿ded In these ffinancal statemonts. thè sd￿ and I￿P £21.13212023: £1,074,WO). PENSION COMlJllTMENTS T•xh•rs' P•n•lon P•¢h•m• The Teachers. Pensh)n s￿￿Me ITPS) Is a stslut(wJ. Contrit￿1￿Y. benefrt sch8mè. govemed by the Teachern, Penslon Sch6m6 Reg￿atiOnS 2014. Membership i% automatic for full-tine teathers li academies. AJI teachèrs have the option to Op1-￿rt￿ th8 TPS foll(yMng onrolm9nt The TPS Is an unfundgd to *l)tth bclh the membw and empwr make8 ￿￿1￿j1￿)nS, as a percentsg8 of s￿ary - Ihese contr1￿110n$ afe credrted to the Exdwutt. Retirement and other pènslon benefits are paKI by pu￿1¢ funds pro￿ by Parliwngrt V•luatlon of the T•a¢horn' P•nth S¢h•m• The Govemment Actuary. using norn￿1 actiHial wincptes. conducts a ftJrmaS actuaiial rgviow of the TPS in accordance with the Pubk S￿vICe PfjnsKv￿ ￿alUatIOnS EmplO￿r Cosi Cap) Directrjns 2014 publishod by HM Treasury 4 >ws. The aim of the review is lo specfy the 1ovo1 of future contributions. Actuarial scheme valuati(%is are dep&)dent assumplion3 atrtyjt thg value of future costs. deslgn of b8nefts and many other lactc*s. The latsst actuarial valualion of the TPS was carried ￿￿1 as at 31 M*th 2020. Thè WdlualK)n Tgsuls by the t>epartment for EducaliDn on 26 October 2023. The key elements of the valuatTh and subs8qWrt ccrfwJtalTh to b8 wnthm8nted from 1 A4)ril 2024 ' emFlwYr ¢on1r￿ul*￿ ralgs sel at 28.6% crf pay (indwjirwj a 0.08% adminlstrawon I￿). . tot￿ stheme lablllues (pen8ic*ts in pa￿t arKI tho 8Stwnat8d cost of future bonefts) for servlce to thè effèctfft dat¢ of £262.Of)) miknn and notional assets (estimated future ¢ontributi¢)ns tts38ther with the n￿onal in¥estm8nts hehl at the ¥al￿tiOn dato) of £222,200 milion, giving a notion81 past s8r¥ir￿ dgfftit of £39.8(KJ mlkn. Page 57 ST MPRfs SCHOOL CAMBRflGE NOTES TO THE FWHCIAL 3TATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 PENSION COMMITMEpifs (CONThUED) . the SCAPE ral8, s81 by H￿. 15 us8d to d*miin8 Ihe In¥eslment retum. Thé eiffrent SCAPE rate Is 1.7% above the rate ol CPI. With effect from 1 ￿1 2024 tha Scthool knpIWn￿￿d Pha58d Withdrawal from Th Teachers Pg11s*)n Scherne. V*ith al now join￿5 8Utomatkaly enrc4led APTIS IA¥bYa's Pension Trust for Indepgndant sch￿IS) Defined CMtribulitin Scheme. This Sch8m8 is cyerabj uThJ8r a Totsl Pay and Benafits ayrangwnenl. 18achers able to flex salary and emplospr par￿lon ¢￿tribUIl0ns. ￿th the minimum level of Conu￿￿¢￿)n ryed t*wvJ S% 10% empbyer. A copy of the val￿￿On repNt and SuWMytw￿ d￿mental￿)n is on th8 Teachers, Pen$h)ns website (httpsJlvAwW.tead￿TBp8￿s￿￿$.O).Ukln￿￿p￿r￿l9lo4lie&F*￿s-pth￿knts-v8luaI1On.report.8sPX). Under the d8finiti0r￿ sgt (Mrt in FRS 102. the TPS Is ￿ unfuThYed mulb*mFty penS￿n Scheme. The Charlty has accounted for its Contribu1KM￿ to the sthema as If It were a dgflned corrtribution sGhème. Th Charity has sel out above the Inf￿all￿ avalabbe on the scheme. Tho SdKX)I part*ipates in sc*•eme. a mullkw)pkw s(*wne wh￿h PTo¥Thlas bèneffl8 to s(me 61 non-assouoted employers. The scheme is a defffied benefft ￿eme in the UK. 11 1$ not posslble for the ccrfnpany to obtain $l￿1¢1￿nI inforrnation to enable h to a¢0)￿1 for the schem8 as a defined benef Scheme. Thereforn It accounts for the scheme as a d8fin8d contriEMrtiM st*et￿. Thg xheme Is SUWI to the b3lsl8lKm tho PenSK￿￿ Act 2004 whlch came Irkn force on 30 Dacemb8r 2005. This. together wlh documettts bsued by the Pensions Regulator arKI Technlcal £tuarial Stsn(lards Iss￿1 by the FinancAal Repcrfb"NJ set oul tt* frameth far fimding deflnad benefft occupalional ponw¢)n schemes in the UK. Th8 schane Is d8ssIIW as a laSt4n￿ slandiThJ Therefore thg ￿mponY 15 POt8ntially liable for other particrJalr¥J emph)￿rs. 01￿8￿nS * those ampwrs are unable to meet thelr share of thg scheme defic41 wlttxlrawal from the sthwne. PwtirApatirwJ employers am logalty rewired to meet ther share of the schem6 defic* on an annuty wrchaso basis on withdrawal Irom the stheme. A lul acluatsl for the s￿￿m8 was (xThi8d (Mrt an ellecthe date of 30 Septsmbor 2023. This ac*uarW valua￿￿ was ￿11thed on 11 t)ecember 2024 and shtrwod assets of £99.2m. liabilib8s of £151.5m and a d8fiut of £52.3m. To 8fiminat8 this funding shortfal. the trustees and the participating emplojws hava agrethj that &Jdllk)nal c(Mtr*jirfK￿ t* wd. in combwiatbm frem all eMplo￿r$. to the Daffick C￿tr￿￿￿1)nS From 1 Seplember 2tr25 to 31 Janu￿ 2034: £6.1￿1.¢￿ pw Ipardble monthty aThJ incr8asing by 3% aach 1st Sept8mberl Note th* lh8 sch8m8'5 was carrlod cart ￿1th an gffoclivo dole of 30 S&ptthn￿r 2020. Thls valua1￿ sh¢yhwl assets cl £201.1m. labllknés CA £256.3m and a deficit of £55.2m. To eliminate thls fundlrKJ shortfall, the Tntslee has asked tha ts) pay addlll¢Thl Crybtributrr￿ to th scheme as folk)ws'. (>8fiut ccffitrknutions From 1 September 2022 to 30 2032: £2.687.CW pw annum (payab￿ mcrt)thty arKI iweawg ty 3% cffi eath 181 Serrtember) Pago 58 ST MARn SCHOOL CAMBRIDGE (Acompany Lknlt•d by Gu¥￿t••) NOTES TO TTrIE FINANCIAL STATEMEiirs FOR THE YEAR ENDED 31 AUGUST 2024 29. PENSION COMMrrMEMTS (CONTINUED} The recovery ptan c<￿￿1x￿￿)ns are alkxated to eath parthipathg employtr in line thair estwnatad share ofthe scheme liabilth8. Where the scheme r8 in deftit and kn th& Sca￿1 has agreod to 8 dar￿1 fvndlng arr8ngemenl Ihe sChc￿l recognises a liabilty for thls obligabon. The amount recognised Is the net present value of the defial reduc1b￿ contribLrtiDn$ payable under the agreement that r*les to thè deficil. The present value Is calculated uslrKJ the dlscount rate detaled in thése disdosures. Thg ufbwnding of the discount rate Is recognis8d as a ￿an¢￿ co8t. Th8 discount rates 8bove are tha eq￿¥&￿t slwle di5￿Unt rat89 W￿l¢h. vA)en used to dI$￿￿￿t th8 fu￿re recovery ￿an conlributwjns thje. grve tho 5am0 r8sults as using a full AA ¢cYporatè bond yi8ld curve to discount the Same recovery plan c4)ntribUlK￿s. Ind•p•nd•nt Schools P•nslon Sth•m•. D•finod Contrlbutlon Schom• The School op8r81es an auto enrohn6nt p8nsNin stheme uttsirwj the Independent S¢hcd$ Pension Scheme Defined Contrlbubon Sch6mg. all non a￿l￿MIC staff havo Ihg opportunlty lo ioln. Contribution 18vels are govemad by the aulo enrolment rukns. bui enhanced by tho schwl matthlrKJ up to 6% of employee contributions. The pOns￿n cost charge represents Lyxthtrtrtlins payable ty thè Sthi)ol to all thes8 funds together vthth provis•Jn for futwe defiat funding for Ihe Independent Schooks Pension Scheme. These amounted to £1.224,865 (2023 - £1.075.8991. Contrilxrtv)ns tolalllw £149,499 {2023 - £1352551 wpre payabla to the lunds at the year4nd and are inclwled In OPERATING LEASE COMMITMENTS At 31 August 2024 the Group and the S(thool had (￿MMItrr￿ts lo make future mlnlmum I￿Se paynents uThJ8r non-canc8ll8ble cpwatirth3 le8888 as lofhyws: Gnjup S¢ho 2024 School 2023 2023 Bulldlngs Not later than 1 ypar Later than 1 year noi laler than S Later than 5 ytsrs 95.000 380.000 494.792 95.000 380,000 589.792 380,000 380.C 4x792 589.792 969.792 1.1)64.792 909,792 1.064,792 31. RELATED PARTY TRANSACTIONS The use of land is ren￿1 CArt to th• Jorit Véniur• at an annual rènt tl'a PPF*rtom'. Pag8 59 I 11 .11 .11 (nu)