Company Rogistration Numbei: 075S6657 (England & Wales) DEVONPORT HIGH SCHOOL FQR GIRLS (A company limited by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 &LGriffin Chortsred Att in lessons. • Ensure ihat the deubernte prnctlco model11 do, w• d youdo) 1$ used to deliver ihe eurriculum effeciNely. to support stud8nts to achi￿8. Teaching Learning c. Public beneflt The Academy aims to advance for the public benefrt, educatKJn in PtymoLrth and the surrounding areas by maintsining and developing the Academy and offering a broad Gurriculum. The Trustees confirm that they have complied with the duty in section 1715) of the Charities Act 2011 to have due reguard to the Charty Commisstonerfs general guidance on public benefft in expercising their powers or duties. They have referred lo this guidance when reviewing the Academys aims and objeclives and in planning ils future aclNilie$. Page 7 DEVONPORT HIGH SCHOOL FOR GIRLS IA ¢omp•ny limited by guarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Objectlvos and actlvltles {¢ontlnued) Strategic report A¢hi•v•m¢nts and performance a. Achievements and Performance Key Stage 4 The table bel¢)w provides a summary of Year 11 anaty$is across 2024125.. Indiactor- Cohort °￿9-S °A9-7 °A Basic5 9 - 4 °k Basics 9 - 5 °A EBacc- Standard Yo EBacc" Stron Pass Aver e A8 Grade Avera eEn lish A8 Grade Avera e Maths A8 Grade FSM Avera e A8 Grade Year 11 Summer Resuts 2025 9S47 68.58 99.2 97.6 78,9 73.2 7.37 7.69 7.13 7.30 Key Stsge 5 The percentage of enlries graded A".B was 64.4%. which is above the nalional average for this measure. The average grade was a B. Students that were disadvantaged andlor with special educational needs achwed well. . showing a r¥J gap with non4isadvntaged students. b. Key Perfomance Indicatorg To maintsin a balanceil budget for the next 3 years and further develop a strategy for increasing income., To achieve an average attainment 8 score of al least 7., To achieve 70•/a of grades 9- 7., To achieve an average'A' level glade of B+ Page 8 DEVONPORT IIIGII SCHOOL FOR GIRLS IA company limlted by guarnnlee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Strateglc report Icontinued) Achievements and p•rformanc• (¢ontinu•d) ¢. Golng concern The Board of Trustees has a reasonable expectation that the trust has adequate resouTces to continue lo operate for the foreseeable future. The Trustees have considered a" number of factors in arfiving at this conclusion. The Academy had a free reserves position al the 31 August 2025 of £100,730 in addition to restricted reserves of Nil, with £261.430 held of cash al this dale. Going forwards. the Academy is expanding by 32 pupils per year for the next 3 years, and we will start lo benefit from this extra funding in future years. There is also an or¥Joing focus on increasing Sixth form pupil numbers, and the financial benefft of this change is expected in 2025126. A detailed budget for 2025126 has been prepared and updated to include the rise of inflation, and additional 51affing cost5. Thi5 budget for 2025126 is initially forecasting a £279,¢Joo surplu5 after taking these additional c0515 tnto account, 83 well as beginning lo implement an action plan Ihal the TTU51 has pul in place. Forecasts for luture years show surpluses are expected, wrth a plan in place allowing the Trust to restore reserves to within their reserves policy and for them to continue operating as a going concern. Financial review Most of the Academy's income is obtained from the DE in the form of recurrent granls, the use of which is reslrided to particular purposes. The grants received from the DfE during the year ended 31 August 2025 and the associated expenditure are shown as Restrided Funds in the Statement of Financial Activi(ies. The Academy also re￿Ne5 grants for fixed a55ets from the DIE and are shown in the Statement of Fina￿la￿ Aclivrties as reslricled income in the Fixed Asset Fund. The Reslricled Fixed Asset Fund balance is reduced by annual depreciation charges over the useful life of the assets concerned. as defined in the Academy's accountin9 policies. The Academy took on a deficit in the L(xal Government Pensijn Scheme in respect of its non-te&hing staff transferred on conversion. This is now capped at Nil as staled in nole 25 and is incorporated within the Statement of Financol Activity with details in Note 24 to the finaneial 51alemenls. Key financial policies adopted or reviewed during the year include the Finance Policy which lays out the framework for financial management, including financial re5ponsibilrties of the Board. Head Teacher, budget holders and other staff, as wem ès delegated authority for Spending. Other policies reviewed and updated included Lettings. Charging and Remissions and Premises Management. Anti-Fraud is included in the Finance Policy. Trustees have adopted a Responsible Officer in the Finance Policy and appointed Devon Audil Partnership to undertake a programme of internal checks on financial controls for the period up to August 2025. During the year. the Tru51ees received two report5 covering visits from the Responsible Officer which contained nc matters of s￿nIfiCanCe. During the year ended 31 August 2025. the Academy ieceived total income (excluding capital income) of £6.595.901 {2024'. £5,704.5911 and incurred totsl expendilufe, excluding depreciation and pension expendilufe of £6.581,536 (2024.. £6.D11.1651. The excess of income over expenditure, excluding capital and pensio)n for the year was £14,365. At 31 August 2025 the net book value of fixed 85sets was £7,391.811 12024.. £7,457.5841. and movements in tangible fixed assets are shown in note 14 to the financial statements. The assets were used exdusivety for providing education and associated support seNices to the pupils of the Academy. Page 9 DEVONPORT HICH SCHOOL FOR GIRLS (A Company Ilmltsd by. guaranl¢e) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Strategic report Icontlnued) a. Re$erY8s policy The Trustees review the GAG reserve leve15 of the Academy annually. This review encompasses the nature of income and expenditure streams. the need to match income with commitments and the nature of reserves. The Tiustees take into consider81ion the future plans of ts Academy, the uncertainty ovef future income streams and other key risks idenlrfied during the risk review. The amount of proposed reserves has been sel al £80,000. The school currenlty has a level of reserves just above this, however, there is an action plan in place to increase these reserves. The Academy has begun expanding by 32 pupils per year, and this will continue for a further 3 years. We wll start to benefft from this extra funding in future years. We also have an ongoing focus on increasing our sixlh form pupil numbers. and have started to See the benefft of this with increased numbers from 23124, arthough wrth lagged funding we will not feel the financial benefit until 202512026. Therefore the amount of proposed reserves Ihis year wll remain the same. with an expectation that the lolal reseNes will return to healthier levels during 2025126. The defined benefit pension scherne reserve has been capped al Nil thi5 year, details of which can be found in note 25. b. Investment policy Oue lo the nature and liming of receipt of funding, the Academy may al limes hold cash balances surplLts lo ts short lem requirements. The Trustees have authorised the openiny of an additional short term bank investment account to tske advantage of higher interest rates. Day to day management of the surplus funds is delegated lo the Head Teacher. within strict guidelines lo be approved by the Board of Twstees. Page10 DEVONPORT HIGH SCHOOL FOR GIRLS IA company limited by guarantsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 . Principal risk5 and unrertaSntles The Academy has agreed a Risk Management wlicy and completed a Risk Register. These have been discussed by Trustees and include the financial risks to the Academy. The register and plan are reviewed in light of any new inforniaion and fomiaNy reviewed annually. The TrLEStees have assessed the major risks to which the Academy is exposed, in partular those relatirtg to finances. teaching, facilrties and other operational areas. The T¥uslee$ have implemented a number of systems lo assess and minimise Ih¢se risks. including internal controls descnbed elsewhere. Where significant financial risk still remains, they have ensured they have adequate insurance Cover. The Acade¥ny has continued to strengthen it5 risk management process throughout the year by improving the process and ensuring 51aff and Trustee awareness. A Ti5k regi51er is maintained and reviewed and UFdaled on a regutar ba515. Financial - the Acadery has considerable reliance on continued Govemment funding through the DIE. In the period under review, 94% of the Academy's incoming fe50urces were ultimalety Government funded. There is no assurance that Govemment policy or practice will remain the same or that publ￿ funding will continue at Ihe same levels or on the same terms. Estates - the Academy maintains the school buildings to a high starbdard. An annual Condition survey is undertaken lo ascertain the priorities for capital expenditure. CIF bidlsl are submitted each year for funding for large Capital projects. We purchase property and compliance. and heahh and safety advice to ensure we cornply wrth all relevant regulations. A ￿c survey has been carried out wh￿h confirms there is no RAAC present in the A¢ademy's sch¢x)I buildings. Failures in governance andlor management - the risk in thi5 area arises from potential failure lo effectivety manage the Academy's finances, internal conlrols, compliance with regulations and legislation. slalulory retums etc. The Trustees continue to ￿vteW and ensure that appropriate measu￿$ are in place to mitigate Ihese risks. Safeguarding and child protection the Trustee5 continue to ensure that the highest Standards are maintained in the areas of selection and monitoring of staff, the operation of child protection policies and procedures, heaKh & safety and discipline. Staffing - the success of the Academy is reliant on the quality of ils staff and so the Trustees Monitor and review policies and procedures lo ensure continued development and training of staff as well as ensuring there is clear succession planning. Reputational - the continuing success of the Academy is dependent on continuing to attract applicants in sufficient numbers by rnaintaining the highest educational standards. Fraud and mismanagement of funds The Academy has appointed a Responsible Officer to &irry oul check5 on financial syslems and records as required by the Academy Trust Handbook. All finance staff receNe training to keep them up to date with financial piaclice requirements and develop their ski115 in this area. Page11 DEVONPORT HIGH SCHOOL FOR GIRLS IA ￿MpanY limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Fundraising The Academy carries out a limiled amount of fundraising and when undertaken. SyBlem5 and controls are in place to separate and protect fvnds. The Academy is mindful of its responsibilities under the Charities IPToteclion and Social Inveslrnenll Act 2016 and legal rules, and ensures all aclivrtie5 are agreed and monitored al Senior Leadership Team level in compliance wrth relevant legal rulès. Re¢ognised stsndards are applied lo ensure that fundraising is open, honest and respeetful, protecting the public from undue pressure to donate. Complaints are handled and monitored through the Trust's complaints Procedu￿. Plans for fu￿re perlods The Academy will continue to strive to provide outstanding edu&*ion and improve the perfonnance of ils students al all levels. The Academy will Continue to aim lo attract high quality leacher5 and support staff in Qrder to delNer its objerlives. Over the next 4 years the school will continue to expand, accepting further pupils into each year group. The Academy will continue to work with partner schools to improve the educational ¢)pportunities for students in the wider community. The Academy will continue to be a Directly Licensed Centre of the Duke of Edinburgh's Award. Funds hold as custodian on behalf of others The Academy holds a small amount of funds on behaw of the South West Academic Trust (SWAT). This is a partnership of leading grammar schools in the South West and the University of Exeter who work together to raise achievement and aspiration within their schools across the reg￿n. The funds come from the schools in SWAT and are used for collaborative activities for staff and students to achieve the aims of the Twsl. Di%losure of infr>rmatlon to audito Insofar as the Trustees are aware.. the￿ is no relevant audrt inforrnalion ol which the Charitable CoMpan￿S auditors are unaware,. that Trustees have taken all steps that they ought to have taken lo make themselves aware of any relevant audit information and lo establish that the auditors are aware of that inforrnation. The Tru$lees' report. incorporating a strategic report. was approved by order of the Board of Trustees, as the company directors. on 3 December 2025 and signed on ils behalf by.. L Saryeant Accountsng OffKer J Jennison Chaii of Trustees Page 12 DEVONPORT HIGH SCHOOL FOR GIRLS (A company 11m1t￿ by guarantee) GOVERNANCE STATEMENT Scope of responslblllty As Trustees, we acknowledge we have overall responsibilty for ensuring that Oevonport High School For Girls ha$ an effeclwe antj appropriate system of control. financ￿1 and otherwise. However, such a syslern is designed to manage rather than eliminate the risk of failure to achieve business objectives, and can provide onty reasonable and not absolute assuran￿ against material misslalemenl or kjss. As Trustee5, we have reviewed and taken account of the guidance in DfE's Govemance Guide. The Board of Twslees has deleg8ted the day-to-day responsibilty to the Head Teacher, as Accounting Officer, for ensuring financial controls conform with the requirements of both propriety and good financial management and in accordance with Ihe requirements and responsibilities assigned lo il in the funding agreement be￿een Devonport High School For Girfs and the Secretary of State for Education. They are also responsible for rèporting lo the Board of Trustees any material weaknesses or breakdowns in inlemal control. Governance The infomiation on governance included here supplernenls that described in the Trustees, report and in the Slalemenl of Iruslees. responsibilities. The Board of Trustees has formal￿ mel 11 tsmes during the year. Attendan￿ during the year at meetings of the Board of Trustees was as follows.. Trustee Meetings attended Out of a possible E Blakeman H C18rke H Cotton, Vice Chair V Frost, Chair of Tru51e8s {to 22 September 20251 J Jennison, Chair of Trustee5 (from 22 September 2025} L Sargeant. Head Teacher K Plant S Shahidur-Rahman K Pilkinglon V Harris G Sp¢x)ner S Tustain A Varga J Wilson 11 11 11 10 11 10 11 During the year the following changes lo the eomposrtion of the Board of Trustees look place.. ApFoinlmenls Jessica Jennison lappoinled 4 December 20241 Sarah Jane Tuslain (appointed 15 November 2024) Alina Laura Varga lappoinled 3 March 2025) Resignations Vanessa Harris (resigned 3 November 2024) Helena Clarke Iresigned 6 January 202SI Lee Sargeant (resigned 31 August 20251 Victoria Frost (resigned 22 September 2025) Page 13 OEVONPORT HIGH SCHOOL FOR GIRLS IA company Ilmited by guarantee) GOVERNANCE STATEMENT ICONTINUEDI Govemance (continued) Govemance Revlews The Trustees undertake self-evalualion ￿vIewS of the experience skill sel of existing Trustees. This is an extremely valuable exercise in providing us with informatNe dats when appointing new Trustees. The outcome is an improved depth and breadth of skills and experience across the Board of Trustees. R•vi¢w of value for money Th8 Academy Tru51 delivers good value in the use of public resources. The Accounbng Officer under51and5 that value for money refers to the educatM)nal and w￿lef societal outcomes achieved in return for the taxpayer resources received. The Accounting Officer considers how the Trust's use of ils resources has provided good value for money during exh academic year, and reports lo the Board of Trustees where value for money can be improved, including the use of benchmarking data where appropriate. The Accounting Off￿er for the Academy Trust has delivered improved value for money during the year by.. Significant savings on salary costs has beeft achieved through natural wastage. timetabling adjustments and recruitment of newty qualified staff wilhoul compromising delivery of learning and teaching. We have reviewed Servi￿ level agreements to achieve best value, and have char¥Jed suppliers vthere appropriate on services. Wo have continued lo improve student attainment Ihfough our fully embedded tracking systems which also allowed us to target intervention effectively. Confllcts of intsrest Conflicts of interest are managed by maintaining an up lo date and complete register of interests for Trustees and Senior Leaders. There is total transparency in regards to govem8nc8 arrangements ar￿ the register is available on the school's websrte. In addttion, all stsff cornplete an annual self dedaratp)n where they have lo declare any business interests. Any gifts received are entered into a regi5teT which is centrally held in the main school reception. Conflicts of interest is a standard agenda item for all Trustees meetings. Where a conflid of interest could occur. one of the following steps will be tsken.. leaves relevant discu55i0ns does not lake part in the decision or vote is not counted in the quorum The conflKt and action taken will be minuled. Page 14 DEVONPORT HIGH SCHOOL FOR GIRLS IA company Ilmlted by gu•rnnteel GOVERNANCE STATEMENT (CONTINUED) The purpose of the system of internal control The system of internal control is designed to manage risk lo a reasonable level rather than to eliminate all risk of failure lo achieve policies, aims and objectives. It can, therefore. onty provhle reasonable and not absolute assurance of effectiveness. The system of internal control is based on an ongoing process designed lo ident and prioritise Ihe risks, the achievement of Academy policies. aims and obiective5, to evaluate the likelihood of those risks being realised and the impact should they be realised, and to manage them efficiently, effeclivety and economically. The system of internal conlrol has been in place in DevoDport High School for Girls for the period from 1 September 2024 to 31 Augus12025 and up to the dale of approval of the annual report and financial ststements. Capxlty to handle rlsk The Board of Trustees has reviewed the key risks to which the Academy is exposed together with the operaliThJ, financial and compliance controls that have been implemented lo mitigate those f15ks. The Board of Trustees is of the view that there is a formal ongoing pro￿55 for Identi￿.￿g, evaluating and managing the Academy's Significant risks that have been in place for the period frorn 1 September 2024 to 31 August 2025 and up to the date of approval of the annual report and financial slalements. This pr¢)cess is regulaty reviewed by the 8oard of Trustees. The rlsk and Control framework The Academls system of internal financial control is based on a framework of wular management information 8nd administratwe procedures including the segreg*ion of duties end a system of delegation and 8ccountabilty- In particular, it indudes.. Comprehensive budgeting and monitoring systems wrth an annual budgel and periodic financial ￿pOrts which are reviewed and agreed by Ihe Bc)ard of Trustees. Regukr reviews by Ihe Board of Trustees of reports which indicate financial performance against the forecasts and of major purchase plans. capital works and expenditure prograrnmes. Setting targets lo measure financial and other perfoimance,. earty defined pu¥chasing (asset purchase or capital investment) guidelines. Delegation of aulhorty and segregation of duties. Idenlificalion and management of risks. The Board of Trustees has dec￿ed lo employ Devon ALMIrf( Partnership as internal audi¢or. The intemal audrtorfs role includes giving advtce on financial matters and performing a range of checks on the Academls financial systems. In particular, the checks carried out in the current period included.. Income Purcha$ing and Payments Contracts and Tendering Risk Management Governance, Accounting and Financial Control Anti Fraud Asse15 On a semi-annual basis the auditor reports lo the Board of Trustees. IhroLtgh the Finance and Resources Committee. which is part of the main board, on the operation of Ihe systems of control and on the discharge of the Board of Trustees, financial responsibilities. Page 15 DEVONPORT HIGH SCHOOL FOR GIRLS IA company liml¢ed by guarantee) GOVERNANCE STATEMENT ICONTINUEDI Review ol effectlveness As Aceounting Officer the Head Teachei has responsibilty for reviewing the effectiveness of the system of internal control. During the year in question the review has been infomied by.. the work of internal auditors., the financ￿1 management and governance self-as5essment proces5', the work of the executive managers within the Academy who have responsibilty for the development and maintenance of the internal control ftamework,. and the work of the extemal auditors. The Accounting Officer ha5 been advised of the irnplic*ion$ of the ￿$￿It of their review of the system of intemal control by the Finan￿ and Resources Committee and a plan to address possible Weak￿SseS and ensure continuous Improvement of the system is Én place. Conclusion Based on the advice of the audit and risk committee and the Accounting Officer. the Board of Trustees is of the opinion that the Academy TNst has an adequate and effective framework for governance. risk management and control. Approved by order of the member$ of the Board of Trustees on 03 December 2025 and signod on their behalf by.. J Jennison Chair of Trustees L Sargeant Accounting Officer Page 16 DEVONPORT HIGH SCHOOL FOR GIRLS (A company Ilmlted by guarantee STATEMENT OF REGULARITY, PROPRIETY ANO COMPLIANCE A5 Accounting Officer of Devonport High School for Gir151 confirm that I have had due regard to the framework of authorities governing regularty, propriety and compliance, includtng the Irusl's funding ag￿ement with DE. and the requirements of the Academy Trust Handbook, including ￿spOnSibl11t1es for eststes safety and management. I have also considered my responsibilty to notify the Academy Trust Board of Trustees and DfE of material iryegularity, impropriety and non-compliance wth terms and conditions of all funding, including for estates safety and management. I confim that I, and the Board of Trustees are able to ￿entify any material Ir￿gu18r or improper use of all funds by the Academy Trust, or material non•compliance with the framework ol aulhorrti8s. I confirm that no instances of material irregularity, impropriety or non 5.734,928 15,811,936) 86.212 159,000 Page 50 DEVONPORT HIGH SCHOOL FOR GIRLS A company limit*d hy 9u•rantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Ststement of funds Icontlnuedl As restated 8alance al 1 September 2024 Balance at 31 August 2025 Transfers Inlout Gainsl (Losses) Income Expendlture Restricted fixed asset funds Fixed asset5 transferred on conversion 5,883,137 13,2551 5,879,882 Fixed assets purchased from GAG and other reslricled grant5 Devolved Fom)ula Capital AcademE8 Capitsl Maintenance Fund Fixed assets purchased from Local Aulhorrty funding Capital loans- CIF and Salix CIF DIE Donations 64.682 120,174) 44.508 136.450 19.646 120,093) 136,003 517,572 112,352} 606.220 5,65S 5,519 1105,5331 755,47S 94,613 13078 (91,655) 738.682 94,613 116.7931 7.352,051 19.646 {72.8031 13.878 7.312,772 Total Restricted funds 7.183,847 5.7S4.574 {5,884.7391 100.090 159.000 7.312.772 Total funds 7,267.294 6.615.547 16.628,3391 159,000 7,413,502 Page 51 DEVONPORT HIGH SCHOOL FOR GIRLS IA company Ilmitcd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Stsl•ment ol funds Icontinuedl The specific purposes for which furKls are lo be applwl are as follows.. Restricted Fund5 General Annual Grant - Incorne Irom the DIE whKh is lo be used for the norrnal running ￿$ts of the A￿derny, including education and 5UPPOrt C051s. Pupil Premium - Pupil premiurn represents funding received from the DfE for children that qualify for free school rneals to enable the Academy to address the current underlying inequalrties be￿en those children and their weatthier peers. Core Schools Bugel Grant - Incorne from the DfE to Support overall cyeralional cost5, particularly in response to teacher and staff pay awards. Other DfE Grants- Other restricted funding received from the DIE. Texhers pay and pension grant - Funding received from DfE which is provided to support schools and local aLrthorities with the cost of the increase in teachers. pay and empbyer eontribulions to the teachers. pen5K)n scheme. Local Authority- Funding received by Ihe Local Aulhorty lo fund further support for students. Euroscola- This is funding to part¢cipate in a debate at European Parliarrent. Erasmus (Magic of Waterl - This is a funded prc4ect to enable students from European countries to wsil and interact with other European students. PGCC- Regional school's partnership with the Conlucius Inslrtute to expand the teaching and learning of Mandarin Chinese throughout local schools. Ptymoulh Children In Povety - Income used lo support children lo urKlertake xtiwlies that they cannot regulady take part in, such as Duke of Edinbulgh actwilies. Other curriculum income- This represents other source5 of restricted curriculum incorne. Donations- This represents ieslficted donation income. Pension reserve This represents the Academys share of the assets and liabilrties in the Local Government Pension Scheme. As wrth most pension schemes this is currently in deficit due to an excess of scheme liabilrties over scheme assets which was inherf(ed on conversion lo an Academy. The Academy is folbowing the recommendation$ of the actuary lo reduce the deficit by making ad(litsonal contributions over a number of years. Page 52 DEVONPORT HIGH SCHOOL FOR GIRLS IA company1Smlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Slatem•nt of fund$ (Continued) R•stricted Fixed Asset Funds Fixed assets transferred on conversion This represent the buildings and equipment donated lo the school from the L￿al Authority on conversion lo an A¢ademy. Fixed Assets purchased from GAG and other restricted funds This represents funds transferred from the restricted GAG fund and other restricted funds lo purchase fixed assets.. Devolved Fomiula Capital- This Tepresenls funding from the DfE to cover the maintenance and purchase of the Academy's assets. Academies Capital Maintenance Fund - These funds are received for direct expendi(ure on fixed asset projects. Fixed assets purchased from Lccal Authority funding- This represents funding used to create a rest room in the school. Capttal loans - Capttal Improvement Funding and Salix - This represents funding provided the DE in the form of a loan lo be used towards the CIF heating project. Capital Improvement Funding This represents fundin9 from the OfE for the AC￿erny lo carry out a healing improverrenl projed. DfE Donations - This repTe$ent$ the value of assets that were gifted lo the Academy. Under the funding agreement with the Secretary of Slate, the Academy was r￿1 subject to a limit on the amount of GAG rt could carry forward at 31 August 2025. Page 53 .DEVQNPQRT HIGII. SCHQQL FQR GIRLS (A ¢ompany1Smlted by guorantee) NOTES TO THE FINANCIAL STATEhlENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Statement of funds Iconlinuedl Comparative information in respect of the pre¢8ding year is as folbws.. As restated Balance 81 I September 2023 As res181ed Balance at 31 August 2024 TrnnsferyJ in/out Gain (Losses) Income Expendilu Unrnstricted funds General Funds 9T.168 571,117 (621,202) 36,364 83,447 Restricted general funds General Annual Grant IGAGI Pupil Premium Mainstream Schools Additional Grant Other DfE Grants Local Authority other curriculum income Erasmus Eufoscola 331,933 4.662.546 90.497 (4.937.952) (90.497) (56.527) 123,418 (123,418) 23.132 20,092 (23, 132) (20,092) 61,fj69 f61.669) 6.094 4.678 8.907 6,094 4,584 5,918 3.760 f3.854) (2.989) PGCC Plymouth Children in Povety Educational trips Teachers Pay and Pension Grant Pension reserye 200 200 36.364 (36,364) 148,360 (148,360J (303.OOQJ 22,000 96,CXKI (185.OCQ) 8&176 5,133,474 (5,389,963) f92,891) 96,000 (168.204) Page S4 DEVONPORT HIGH SCHOOL FOR GIRLS (A company'llmiièd liy guar•n¢ee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Stalement of funds Iconllnuedl As restBled Balance al t Septembe 2023 As ￿stated Balance at 31 August 2024 Tr8nsfery in/out Gainsl (Lossesj Income Expenditu Restricted fixed asset funds Fixed assets transferred on conversion 7,522,964 (1,639,827) 5.883, 137 Fixed assets Pufchased from GAG and other restricted grants Devolved Formula Capital Academies Capil81 Maintenance Fund Fixed assets purchased from Local Aulhorty funding Capital loans- CIF and Salix CIF DIE Donations 84, 635 f76,480) 64,682 155.251 19.073 (35,511) (2.303) 136,450 $29,978 (t2,406) 517.572 5,791 f136) 4655 (107.503) 772.267 97, 169 (333) (16, 792) (2,556) 2.303 {105,533J 755,475 94,673 9.060,552 19,013 (l. T84,041) 56.527 7,352,051 Total Restrlcted funds 9. 145, 728 5. 152,487 (7, 174,004) (36,364J 96,OC 7, 183,847 Total funds 9.242,896 5, 723,604 (7. 795,206) 96,000 7,267,294 Page 55 - DEVONPORT HIGH SCHOOL FOR GIRLS. . IA Gi)inpany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 202S 19. Analysis of net assets beiween funds Analysls of net assets between fvnds- current year Restricted Unrestylcted fixed a55et funds fundy 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditor5 due in more than one year 7.391.811 7,391.811 12,615 507.440 117.2331 1411.3281 74,4211 174A21 494,825 1394,0951 Totsl 100.730 7,312.772 7N13.502 Anatysis of net assets between funds - prior year Restrict8d Reslricled fixed asset funds funds 2024 2024 UnTrslricted funds 2024 Tot81 funds 2024 Tangible fixed assets Current assets Creditors due wilhin one year Creditors due in more than one year Provisions for Irabililies and charges 7.45T,584 7,457,584 572.359 f13.878J (485,994) f91.655J {9t,655) 1185.OCQ) 555,563 (472, 116J 16, 796 f185,OOOJ Total 83,447 (168.204J 7,352,051 7.267.294 Page 56 DEVONPORT HIGH SCHOOL FOR GIRLS 'IA Company limlted,by guarantwl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. R•¢onciliation ol not •xpenditure to net cash flow from operatlng a¢llvlties 2025 2024 Net expenditure for the year las per Statement of financial adivitiesl (12.7921 f2,071,602) Adjustments for: Impairment of tangible fixed assets Depreciation Capital grants from DE and other capital income Interest receivable Defined benefrt pension scheme cost less ¢ontribul¢tins payable Defined beneff( pension scheme finance cost Increase in debtors (Decreasellincrease in creditors 1,463,652 320,389 (19.013) f92) (33.OOOJ i 1,000 (77.485) 142.581 72,803 119,6461 1601 131,0001 5,000 {103.4131 178.0221 Net cash us•d in operating activities {167,130) (263,570) 21. Cash flows from financing activiti•s 2025 2024 Rep￿entS of DfE loans (13.8781 (2,493) Net ush usod in financing activities (13.8781 (2,493) 22. Cash flows from investing activities 202S 2024 Interest recewed Purchase of tangible fixed assets Capital grarbls from DfE Group 60 17,030) 19,646 92 173.570) 78, 198 Not cash provided by investing activities 12.676 4,720 Page 57 DEVONPORT HIGH SCHOOL FOR GIRLS (A company limit￿ by 9Uafanteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 23. Analysis of cash and Cash •quivalents 2025 2024 Cash in hand and at bank 261.430 429. 762 Total cash and cash equivalents 261.430 429, 762 Analysis of changes in nel debl At1 September 2024 Cash flows Other non. cash At31 changes August 2025 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 429.762 {13.8781 {91,6551 1168.3321 13.878 261.430 (17,2341 {74,4211 (17,234) 17,234 324.229 1154.4S41 169.775 Contingent assets The actuary has valued the LGPS pen5ton position as an overall asset of £596,000 at 31 August 2025. However, this asset has not been recogni5ed on the balance sheet of the Acaderny Trust. Instead the year end position has been cap￿d at Nil. Academy Trusts are pcoled wthin their respective L¢xal Government Pension Schemes and a refund from the scheme is considered unlike￿. Therefore, as the Academy Trust wim not gain any future economic benefits as a result of the asset position. rt is not considered appropriate to iecognise this as an asset on the balance sheet. 26. Penglon commltments The Acadèmls employees belong to principal pension schemes.. the Teachers, Pension Schemè England and Wales ITPSI for academic and related staff,. and the Local Government Pension Scheme ILGPSI for non-leaching staff, which is managed by Ptymoulh County Council. Both are muMi*mployer defined benefrt schemes. The latest actuarial valuation of the TPS ￿lated lo the period ended 31 March 2020 and of the LGPS 31 March 2022. Conlributiorb5 amounting lo £107,990 were payable to the schemes al 31 August 2025 (2024 - £97,966) and are included within creditors. Page 58 DEVONPORT HIGH SCHOOL FOR GIRLS IA company Ilmit￿ by guarant¢e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 26. Pension commitments (continued Teach•rs' Penslon Scheme The Teathers, Pension Scheme {TPSI 15 a statutory, contributory, define(I benefft scheme, govemed by the Teachers, Pension Scheme Regulalions 2014. Membership is automatic for full-time leachors in academies. All teachers have the option lo opt-out of the TPS following enrolfflent. The TPS is an unfunded scheme to wh￿h both the member and employer makes contributions, as a pereenlage of salary - Ihese conlribLrtions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliamenl. Valuatlon of the Teachers. Penslon Scheme The Govemment Actuary. Ljsing normal actuafial principles, conducts a fomial actuarial review of the TPS in accordance wrth the Public Service PerIS￿n5 (Valuations and Employer Cost Capl Direclh)ns 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed approprialety and the revw Sp￿lfieS the level of future contributions. Actuarial scheme valuations are dependent on assumptions aboLbt the value of future costs. design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as al 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023. with the SCAPE rate. set by HIAT. applying a notional investment retum based on 1.7% above the rale of CPI. The key elements ol the valuation outcome are". Employer contribution rale8 Sel al 28.68Y(t of pensionable pay (including a 0.08% administration levyl. This is an increase of 5°h in employer contributions and the ¢ost control resutt is such that no change in membeT benefits is needed. Total scheme liabili(ies (pensions currentty in payment and the estimated cost of future benefitsl for service to the effective date of £262,000 million and notional asse15 le5timaled future contributions together with the notion81 investments held al the valuation datel of £222.2CO million. giving a notional pasl s8Nice deficit of £39,800 million. The result of this valuation was irnplemenled on 1 April 2024.The next ValUat￿n result is due lo be implemented from 1 April 2027. The employerfs pension costs paid to TPS in the year arw)unted to £807.242 {2024 - £663,401). A copy of the valuation report and supporting document8lK)n is on the Teachers, Pensions website. Ihttps'.IlvMv.teacherspensions.co.ukJnewslemployers120231101valuation-result.aspxl Under the definrtions set out in FRS 102. the TPS is an unfunded mulli*mployer pension scheme. The academy trust is unable lo identify it5 share of the under￿l￿g assets and liabilrties of the plan. Accordingty, the Acaderny Trust has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Academy Trust has set out above, the inf0m￿li0n available on the Scheme. Page 59 DEVONPORT HIGH SCHOOL FOR GIRLS IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 26. Pension commitments Icontlnued) Local Government Penslon Scheme The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee- administered funds. The totsl Contribution made for the year ended 31 August 2025 was £246.000 (2024 £228.000), of which employerfs contributions lolalled £195,000 (2024 £180,(￿1) and empbyees, contributions lotalled £51.000 (2024 - £48.OOOJ. The agreed contribution rates for future years are 15.3 per cent for employers and 5.5 and 12.5 per cent for employees. As described in this nole the LGPS obligation relates lo the employees of the Acadery, who were the employees transfer￿d as part of the conversion from the maintained school antj new employees who were eligible to, and did, join the Scheme in the year. The oblpalion in iespect of empbyees who transfeNed on conversion represenls their cumulaltve service at both the predecessor school and the Academy at the balance sheet date. Parliament has agreed, at the request of the Secretary of State for Education. lo a guarantee that. in the event of academy closu￿, outstanding Local Government Pension Scheme liabilf(ies would be mel by the Department for Education. The guarantee came into force on 18 Juty 2013 and on 21 July 2022, the Department lor Educalion reaffime(l its commrtmerbt to the guarantee, with a parliamentary minute published on GOV.UK. Principal actuarial assumptions 20 2024 Rale of increas8 in salaries Discount rate for scheme liabilities Inflation assumption ICPII 3.50 6.95 2.50 3.85 5.05 2.85 The current mortalty assumptions include sufficient alhjwance for future improvernent5 in mortality rates. The assumed lrfe expectations on retirement age 65 are.. 2025 Years 2024 Y8afS Retiring IL￿Y Males Females 21.3 24.0 21.4 22.7 Retiring in 20 ye815 Males Females 22.9 25.7 22.7 24.1 Page 60 DEVONPORT HIGH SCHOOL FOR GIRLS (A Company Ilmiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 26. Pension commitments {continuedl Sensitivity analy$i$ 2025 £Doo 2024 Discount rale +0.1U 151) 53 81 (79) 51 (50) (63) Discount rale ￿.10A Mortality assumption - 1 year increase Mortality a$sumplion- 1 year decrease CPI rate +0.1 % CPI rate-0.10h 106 f103) 61 f60) Share of scheme assets The Academy's Sha￿ of the assets in the scheme was.. At 31 Al 31 August August 2025 2024 Equilie5 Gilts Propety Cash and other liqupj assets Olhef 2,009.000 1,034,000 294,000 101,000 377,000 1.839,O¢X) 779,000 249,000 428,000 Total market value of assets 3,815,000 3,379.0(Kl The actual return on scheme assets was £263,000 (2024- £362,000). The amounts recognised in the Statement of financol &tivi(ies a￿ a5 follows.. 2025 2024 Current service cost Interest Income Interest cost Adminislralrve expenses (162,0001 175,000 {180,0001 12,0001 (745,000) 157,000 (168,OGQ) (2,000) Total arnount recognlsed in the Statement of financial activities (169.0001 (t58,000) Page 61 DEVONPORT HIGH SCHOOL FOR GIRLS IA company Ilmltsd by guarantsal NOTES TO THE FINANCIAL STATEPJIENTS FOR THE YEAR ENDED 31 AUGUST 2025 26. Pension commitments {continued) Changes in the present value of the defined benefit Obl￿ationS were a$ follows.. 2025 2024 At 1 September Current service cost Interest cost Employee contributions Actuarial Igainsylosses 8enefils paid 3,564,000 162.000 180.000 51.000 171,0001 171,0001 3,205,000 145,000 168,000 48,000 109,000 (111.000) At 31 August 3.815,000 3.564,000 Changes in the fair value of the Academ¥s Sha￿ of scheme assets were as follows.. 2025 2024 At 1 September Interest income Actuarial gains Ernpbyer conlTibulions Empkjyee contributions Benefits paid Administration expenses 3,379,000 175,000 88,000 195,000 51.000 171.000) (2.000) 2.902.000 157.000 205.OGY) 780.000 48.000 (1t i,oooJ {2.OOOJ At 31 August 3.815.000 3.379.000 27. Operatlng lease ¢ommltments At 31 August 2025 the Aeademy had commttments lo make future minimum lease payments under non- cancellable operating leases as follows.. 2025 2024 Nol later than 1 year Later than 1 year and not later than 5 years 17,927 13.691 19,687 31,618 31.618 51,305 Page 62 DEVONPORT HIGH SCHOOL FOR GIRLS IA company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 28. meM￿r$. liability Each member of Ihe charitable company undertakes to ¢onlribule lo the assds of the company in the event of it being wound up while helshe is a member, or within one year after helshe ceases lo be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before helshe ceases to be a member. Related party transactions (Jwing to the nature of the Academy and the composition of the Board of Trustees being drawn from local public and private sector organisations. Iransaclion5 may lake place with organisalions in which the trustees have an interest. All transactions Invo￿1n9 such organisalions are conducted in accordance wf(h the requirements of the Academy Trust Handbook. including notifying the DfE of all transactions made on or after 1 April 2019 and obtsining their approval where required, and with the Acadernls financial regulations and normal procurement procedures relatin9 to connected and related party Iransaclions. No related party Iransxlions took place in the period of ￿cOUnt, other than certain Trustees. remuneration already disclosed in note 11. 30. Agency arrangements The Academy dislribules 16-19 bursary funds to students as an agent for OfE. In the accounting period ended 31 August 2024, the Academy received £28.131 (2024.. £27,794), disbursed £27.568 12024.. £27,238) from the fund and retained £56312024.. £5561 as their 2Vo admini51ralion allocation. There were no undislributable funds at the year end. Page 63