ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024Charity Registration No. 307063
## ANNUAL REPORT & FINANCIAL STATEMENTS Year Ended 31 August 2024 1
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
Roedean aims to inspire and challenge every student to develop her strengths and passions, to seek the highest academic and personal standards for herself, and to develop a strong foundation for her future.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Contents
|Contents||
|---|---|
|Message From The Interim Chair of Council|4|
|Report from the Council|5|
|Structure, Governance And Risk Management|9|
|Investing In Roedean’s Estate|16|
|Streamlined Energy And Carbon Reporting (SECR)|18|
|Progress Updates And Operational Report|20|
|Beyond The Classroom – Co-Curricular|23|
|Partnerships|28|
|Board Structure And General Meetings|31|
|Financial Review And Results For The Year|34|
|---|---|
|Statement Of Trustees’ Responsibilities|36|
|Independent Auditor’s Report|37|
|Consolidated Statement Of Financial Activities||
|For The Year Ended 31 August 2024|40|
|Consolidated And Charity Balance Sheets||
|For The Year Ended 31 August 2024|42|
|Consolidated Cash Flow Statement||
|For The Year Ended 31 August 2024|43|
|Notes To The Financial Statements For The Year Ended 31||
|August 2024|45|
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Message From The Interim Chair of Council
The last year has brought much to be thankful for but also numerous reminders of the structural challenges facing the whole independent sector. I am therefore comforted by the words of Dorothy De Zouche who in her book of 1955 to mark Roedean’s first 70 years wrote ‘The Story of Roedean is a romance and an epic’. We are now heading for 2035 when Roedean will be celebrating 150 years as one of the world’s most prominent institutions empowering women through ‘a thorough physical, intellectual and moral education’.
Paul Lawrence wrote ‘an important part in the success achieved by my sisters was that they had faith in and trusted all those whom they employed or came under their charge and thus engendered in their staff, pupils and servants a sense of loyalty, devotion and respect without which it would have been impossible to build up and successfully carry forwards such an important school as Roedean’.
Seventy years on from 1955, I would like to believe that we continue to voyage on an epic romance drawing our strength from the faith, trust, loyalty, devotion and respect of the whole family of Roedean.
Our Council has worked hard throughout and has been strengthened by the arrival of a number of new members: Fransiska Bayliss, Natalie O’Connell, Althea Wolfe, Sophie Hammond (OR) and Catherine Kirchmann.
I would like to note my great appreciation of the dedication of the staff to their teaching and their skill in getting the best out of our girls. This should extend to all the support staff who never fail to impress me with their courtesy and commitment.
I would like to mention three of my special pleasures and memories of this year at Roedean. The refurbished library is a huge success and now places research and private reading at the centre of the School’s educational life. Do go and see it when you are next visiting. Speech Day this year was memorable for superb music, all this capped by the guest of honour, OR Noo Saro-Wiwa, who inspired us with her message highlighting the importance of creative expression. In September a quite brilliant art exhibition was held on London’s South Bank which showcased the remarkable achievements of the latest generation of Roedeanian artists.
Turning to the strategic direction of the School, there is some significant news to be shared. We are actively exploring a merger with a larger UK charity partner with a similar ethos and set of values. The background is that – as you will have seen from media reports – the independent sector in the UK is undergoing rapid transformation, with almost daily news of partnerships, mergers, and collaborations. This has affected schools of all sizes and type across the U.K. and been driven largely by financial necessity with enormous pressures arising from changes to tax, the cost-of-living crisis, the pandemic, and changing patterns of international recruitment.
While born of necessity such dynamic changes do bring great opportunities. The Council’s job is to consider how to make the most of them in order to secure the School’s longterm sustainability and success. The Council has done so from a position of strength, considering options carefully so any strategic changes can be planned in a thoughtful and orderly way and respecting our unique ethos, values and character.
I would like to thank the Roedean Community for its continued and much appreciated support. The collaboration and commitment of our community is a unique characteristic that makes Roedean so special. I look forward to discussing this development and all things Roedean with many of you over the coming months, and am excited about the opportunities that lie ahead for the whole Roedean community
**Delva Patman** Interim Chair of Council
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Report from the Council
The Council (‘Board’) of Roedean School presents its eighty fifth annual report and audited financial statements for the year ended 31 August 2024 and confirms that they comply with the requirements of the Charities Act 2011, Roedean’s Royal Charter (1938), and the Charities SORP 2019.
Our first prospectus outlined six key pillars:
- To encourage healthy and active living.
- To provide a strong academic foundation.
- To develop an appreciation of sport, culture and the arts.
- To build independence of thought and character.
- To develop skills and confidence for university and careers.
Roedean School (‘Roedean’ or ‘the School’ or ‘the Corporation’ or ‘the Charity’) was founded by the Lawrence sisters in 1885 and moved in 1898 to its present site which provides an iconic location between the South Downs (now a National Park) and the English Channel. The School was originally incorporated under the Companies Acts 1908 and 1917. It was reincorporated by Royal Charter in 1938. It was registered as a charity in 1966 (registration number 307063).
## Ethos and Aims
_Girls First: Empower, Encourage, Engage_
- To develop a strong sense of personal and moral values.
This founding ethos and these pillars remain central to the Roedean ethos and education today – where we aim to provide a distinctively academic, high-quality, all-round education, within a caring and friendly community in a wonderful coastal setting.
At the centre of everything we have done in the last year is our overriding goal of ensuring that Roedean continues to be seen as an acknowledged centre of excellence in girls’ education. Underpinning this is a relentless focus on delivering a unique education for every individual, with high professional standards and expectations throughout the School.
## **Ethos**
When Roedean School was founded by the Lawrence sisters in 1885 its aim was to provide ‘a thorough physical, intellectual and moral’ education with ‘as much liberty as is consistent with safety’.
Our trailblazing founders believed that girls deserved as good an education as boys – so Roedean was intended to challenge orthodox views. The sisters’ vision was to prepare girls for a university education and future careers.
## **Aims**
Roedean aims to inspire and challenge every student to develop her strengths and passions, seek the highest academic and personal standards for herself, and develop a strong foundation for her future in today’s fast changing world. We also seek to enable pupils to develop lifelong friendships, a strong sense of belonging to Roedean and the wider community, and a sense of pride, both in themselves and in their school. We want every girl to:
## **Be Happy**
Enjoy their school days and flourish as individuals, developing healthy and balanced approaches to their own wellbeing.
## **Be Curious**
Develop their intellectual curiosity, passions and rigour as a foundation for a lifelong love of learning.
## **Be Engaged**
Engage in a range of activities and opportunities beyond the curriculum to develop their skills, talents and interests.
**Be Creative & Independent** Learn to think creatively, critically and independently to develop their resilience and enjoyment of challenge.
**Be Confident** Develop the confidence to express their own voice and the self-belief to realise that anything is possible.
**Be Compassionate** Develop a sense of active social responsibility, respect for others, generosity of spirit, tolerance and compassion.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
Strong academic outcomes are of course important (see page 20), but our goals extend beyond examination results. Roedean has continued to work to achieve our six key aims during 202324 through a focus on the key areas of Care, Community and Challenge:
- Care – to ensure every girl is known and supported in all areas of school life to help them progress.
- Community – to ensure every girl is provided with the best teaching and pastoral departments with a strong team and open-door ethos, and exciting opportunities.
- Challenge – to ensure every girl is challenged and motivated in every subject area by fantastic and inspirational teaching.
The overall aims of the School are reviewed and evaluated annually by the Senior Leadership Team, and by Council, to ensure they tie in with current issues and strategic challenges, and this is translated into new annual priorities which are rolled out to each department at the start of the academic year. This process is of course informed by feedback, including from girls, staff, and parents.
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## Charitable Objects, Access and Public Benefit
As a registered charity, Roedean School seeks to benefit the public through the pursuit of its objects and objectives, which are to provide a distinctively academic, high-quality, and holistic all-round education, within a caring and friendly community.
## **Charitable Objects**
The principal objects of the Corporation of Roedean School, as laid down in the Royal Charter of 1938, are:
- To carry on at Roedean or elsewhere a school for girls in which they may receive a sound education including physical and moral training.
- To establish and carry on at any place or places which may be thought fit any subsidiary affiliated or other schools for the education of girls in connection with the abovementioned School.
- To establish, maintain and subsidise boarding houses for mistresses, teachers, pupils and others connected with or attending such school.
- To provide in connection with any school maintained by the Corporation, means for training student teachers and students in the theory and practice of education.
## **Delivering Roedean’s Public Benefit**
In meeting its objects, Roedean’s public benefit aim is to provide a first-class independent education, both through strong academic tuition, and through developing wider sporting, artistic, and social skills in all its pupils. This is intended to provide an environment where pupils can develop and fulfil their potential, helping build their self-confidence, and inculcating a desire to contribute to the wider community.
In the furtherance of these aims the Trustees (who are the members of Council) have complied with the duty in s.17 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant subsector guidance concerning the operation of the public benefit requirement under the Act (see pages 23 to 30). The Corporation delivers Roedean’s public benefit through:
Delivering high-quality all-round education for girls At the commencement of the academic year 2023-24 the number of pupils at Roedean School was 695, and as at September 2024 the number was just over 680. Around half of all pupils are day girls, with the remainder boarders, who benefit from the School’s excellent boarding facilities. As a school, we invest significant resources in ensuring that our high-quality education is as accessible as possible. Fees are set at a level to ensure the financial viability of the School, and at a level that is consistent with our aims and objectives.
Providing girls with financial support to enable talented girls of all backgrounds to access Roedean As a charity, Roedean ensures that the education that it provides is not restricted to those who can afford the fees, welcoming pupils from all backgrounds and making awards to ensure that talented girls are able to attend.
Both scholarships and bursaries give financial assistance. This year, Roedean was delighted to be able to continue to offer funded places to nine Ukrainian girls who moved to the Brighton area under the Homes for Ukraine programme, and who started at the School in September 2022.
## Employing and developing staff
Roedean is a major employer in the local community and invests in training and developing staff, including teachers, as per its charitable objects. Their development is also supported through the partnerships with local state schools, which provide opportunities for sharing best practice and developing new skills.
## Supporting other charities and community organisations
Roedean is integrally linked to the local community, both by pupils and staff actively assisting in and fundraising for local, national, and international charities, as well as other local community organisations. These links continued to grow and flourish this year and includes the opportunity to volunteer for a CAP (Community Action Programme) for the Sixth Form and dynamic partnerships with local state schools. Further information is provided on pages 28 to 30 and on the Schools Together website www.schoolstogether.org
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## Enabling Access to the Roedean Education – Awards
## **Bursary Policy**
Roedean Council of Trustees is committed to ensuring that pupils from families who may not have the financial means to afford the school fees can still access the education Roedean offers. Bursary awards are available to all pupils who meet the school’s general entry requirements and are determined through an assessment of parental means. Awards may be granted prior to a pupil joining the school or to alleviate financial hardship that could jeopardise a current pupil’s education, such as in cases of parental redundancy.
The admissions process is designed to ensure that all pupils receiving a Roedean education are well-positioned to reach their full potential. Entrance interviews and assessments provide reassurance to both the school and parents that prospective pupils can keep pace with the learning environment and thrive at Roedean. Bursary applications for new pupils are accepted for entry into Years 7, 9, and 12. In assessing eligibility for bursarial support, the School, with assistance from the external agency BAL, considers several financial factors including, but not limited to, family income, investments, assets, and outgoings. In some cases, bursary awards may cover up to 100% of school fees, particularly as part of specific programmes such as the Brighthelm Award, HMC Scholarship, or Ukraine Bursary initiatives. For recipients of these awards, additional funding is also available to support co-curricular activities, school trips, uniforms, and travel to and from school.
## **Scholarships**
Each year, Roedean attracts highly talented applicants who contribute to the school community, not only in their areas of expertise but also throughout school life. Roedean offers various scholarships to recognise excellence in academic areas as well as drama, art, music, performing arts, and sports. These scholarships are available to pupils entering Year 7, Year 9, and Year 12. This year Roedean expanded the scholarship programme to include opportunities for current pupils to apply for scholarships, allowing for recognition as their skills progress. Scholarships are also open to both UK and international students.
Additional awards: the Sussex and Lawrence Scholarships, recognise pupils who excel across multiple fields, including academic subjects as well as other areas of specialisation. The Newnham Scholarship, also awarded at the School’s discretion, represents Roedean’s highest academic accolade and commemorates the Founders’ historic association with Newnham College, Cambridge.
Sixth Form scholarships have been further supported by donations to the Old Roedeanians’ Scholarship Fund (charity registration number 1066599), along with additional contributions from individual donors to support various awards.
For more details of scholarships: https://roedean.co.uk/ admissions/scholarships-bursaries/
Bursary support is also available for current pupils facing hardship, typically covering 10% to 50% of fees. This year, a total of 361 (of which 113 receive bursary support) pupils received assistance, with 10 receiving full fee remission, and a further 25% of pupils with bursary support benefiting from a 70% or greater fee remission.
The scope of the bursary policy has expanded, utilising permanently endowed funds held by the Roedean St Mary’s Hall Trust, for which Roedean School acts as trustee. This initiative continues to benefit from the income generated by the Charity’s operations.
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## Structure, Governance And Risk Management
## Group Structure
## Governing Body – The Council
Under the Charities SORP (FRS 102) it is a requirement that, where Roedean School controls assets of other charities, their assets, income, and expenditure are consolidated within the accounts.
The Group now comprises Roedean School and the following wholly owned or controlled subsidiaries:
Roedean Schools Limited (‘RSEL’) – a private company limited by shares and incorporated in the UK (registration number 2921272). The company was incorporated on 21 April 1994, and it operates from its registered office address of Roedean School, Roedean Way, Brighton, BN2 5RQ.
Moira House School Limited (‘Moira House’) – a charitable company limited by guarantee (company registration number 00437590, registered charity number 307072). Its registered office is 2nd Floor 110 Cannon Street, London EC4N 6EU. This company no longer trades and is in the final stages of being wound up.
The business and affairs of the Corporation are managed and administered by a governing body known as the Council, which is the Board of Trustees under charity law, whose members are known as Councillors or Trustees. Council’s responsibility for the strategy, and the management of the business and affairs of the Corporation, is set out in the Royal Charter of 1938.
The Council has a clear strategy for maintaining the School’s position in a competitive market. In addition to the carefully managed use of the bursary programme and investment in improved facilities, significant resources are allocated towards activities and projects which support our pupils’ development, as well as to assist the broader development of, and reputation of, the School.
There is a focus on maintaining the pupil numbers within current capacity and towards the Department for Education approved maximum for the site. Other key targets include growing Roedean’s reputation, ensuring that the School’s high fixed overheads are covered, and mitigating risks to market changes, for example due to changes in the UK and international educational markets.
The Council meets at the end of each term, as a minimum, with additional meetings organised when required. Reporting into Council are individual Committees which meet regularly throughout the year and carry out activities according to the Terms of Reference of each Committee. A list of Committees can be found on page 31.
The Council’s strategy is developed in partnership with the Senior Leadership Team (‘SLT’) of the School and is implemented by the SLT. Roedean School’s SLT during the 2023-24 academic year comprised the Head, the Director of Finance & Administration, the Deputy Head Pastoral, the Deputy Head Academic, the Director of Strategy & Innovation, the Deputy Head Co-Curriculum and Partnerships and the Director of Operations. These are the key management personnel as indicated in Note 10. The SLT provides the Council and its Committees with regular strategic updates, progress reports, and statutory annual reports and documentation to enable them to support and scrutinise delivery of the School’s strategy and its aims as outlined above.
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## Members of the Corporation
The members of the Corporation are known as Governors. The Governors of the Corporation include the President and any Vice-Presidents, and members of the Council both past and present, as well as a large number of Old Roedeanians (‘ORs’). There are in the region of 3,000+ Governors around the world, mainly comprising former pupils of Roedean.
Each year, the Governors have the right to consider the Annual Report of the Council in General Meeting, as well as to elect a number of Councillors, and to vote on any amendments to the Royal Charter or its Bye-Laws. The Corporation in a General Meeting may from time to time elect to be a Governor any person whose election may be deemed likely to further the interests of the Corporation and it shall be the duty of the Corporation, whenever the number of Governors falls below 50, to elect not less than five Governors at the next ensuing Annual General Meeting.
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## ISI inspection, January 2025
Following the School’s ISI Inspection in January, the standards in all five categories are met by Roedean.
Congratulations go to the entire community, and we are very pleased that what we know takes place every day at Roedean was clearly in evidence when the Inspectors were in School.
Although the nature of Inspection reports now means that the comments can appear to be rather formulaic, there are some really positive observations which deserve to be highlighted:
## **Summary of inspections findings**
- ‘Pupils thrive in the school’s busy, encouraging, and nurturing environment.’
- ‘Pupils are broad-minded, embrace diversity, and have a clear sense of social awareness and responsibility.’
- ‘They [the students] contribute to society both locally and internationally through long-established community programmes.’
## **Section 1: Leadership and management and governance**
- ‘Pupils thrive in a positive and inclusive environment that supports their academic, creative, and sporting achievements.’
## **Section 3: Pupils’ physical and mental health and emotional wellbeing**
- ‘Well-trained prefects and peer listeners contribute to an embedded culture of support for pupils’ wellbeing, where resilience, emotional awareness, and self-refection are encouraged.’
- ‘Sporting facilities and the broad co-curricular offer from staff enhances pupils’ interest and eagerness for physical pursuits.’
- ‘The design of the four main houses, with their outlook to the sea, further promotes pupils’ self-esteem and their sense of belonging.’
- ‘Pupils develop a spiritual and moral understanding of life through the well-balanced and well-thought-through Chapel programme that draws from spiritual, secular, and social messages.’
## **Section 4: Pupils’ social and economic education and contribution to society**
- ‘The school’s ethos and aims reflect a strong commitment to cultivating pupils’ social and cultural understanding.’
The full report from ISI is available on the School website here: - https://www.roedean.co.uk/isi reports
## **Section 2: Quality of education, training and recreation**
- ‘Pupils engage in a wide range of academic, cultural, and physical experiences through the many residential and day trips, alongside long-standing community initiatives.’
- ‘Pupils develop academic resilience, good study habits, and are proud of their achievements.’
- ‘Teachers develop positive relationships with pupils so that they feel confident to participate and ask for help.’
- ‘A multitude of life-skill opportunities are offered to both day and boarding pupils.’
- ‘Activities promote teamwork, resilience, and social interaction.’
- ‘Pupils are well-prepared for future academic and personal challenges, equipped with a strong foundation of emotional, intellectual, and creative skills.’
- ‘Pupils build their self-esteem and broaden their horizons.’
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Risk Management
The Trustees are aware of The Charity Governance Code, published in 2020 (‘Code’), which sets out the principles and recommended practice for good governance within the sector. The Charity, via the Governance & Remuneration Committee, reviews its current governance arrangements against the principles within the Code, and will continue to address issues raised where required in 2024-25, seeking sound external advice where necessary alongside ongoing Trustee input. The School underwent an external review of its governance arrangement to ensure best practice, and the recommendations were received by Council in 2022. Some recommendations have been implemented and others are still being progressed.
Although the excellent inspection outcomes provide our stakeholders with reassurance both of the quality of the
Roedean education and of the systems in place to safeguard students and staff, no independent school or charity can afford to stand still or fail to take account of the risks that they face.
As such, Council regularly identifies and reviews the major risks to which the School is exposed, and systems have been established to manage those risks.
The Council manages risks through the activities of its various Committees and through the SLT structure. A risk register is maintained, and reviewed regularly at SLT, Committee and Board level, which is used to ensure that appropriate effort is directed at managing the risks identified. The primary key risks that Council has identified, and the methods used to manage those risks, within the risk register, are as follows:
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KEY RISK METHOD TO MANAGE RISK
Future of the School when • The Council has undertaken a comprehensive review of all key operational
considering all areas of income and areas, including pupil numbers, fee structures, investment performance, and
expenditure estate requirements across the short, medium, and long term. This process
has included engagement with external strategic consultants and resulted in
detailed reporting to the Council. A cost-saving initiative has been implemented
to support short-term stability, alongside a review of the operating model and
efficiency measures. The Head and the Senior Leadership Team have worked
diligently on these actions and continue to monitor all aspects of financial
performance and cost control, whilst ensuring there is no reduction in the quality
of education provided. Alongside this work, the Council is in discussions with a
UK charity merger party, with the intention of merging, subject to the approval
of the Governors of the Corporation.
Tax and regulatory policy changes • Highlight and raise awareness of Roedean’s public benefit to the local MP and
towards independent schools – wider public, and support lobbying efforts via HMC (Heads’ Conference), ISC
changes to tax policy, employers’ (Independent Schools Council), and others. Also, run different financial models
NI and business rates relief and sensitivity analyses, as well as explore changes to current model to mitigate
the impact of the introduction of VAT from 1 January 2025, including via
governance changes and charity/company structures. Maintain a close watch
on other competitor activities in this area, as well as tracking policy proposals.
Renewed look at the governance structure and methods to reduce the impact
of the removal of tax reliefs, as well as the fee payment structures. Participate
in industry bodies, including ISBA (Independent Schools’ Bursars Association),
attend roundtable discussions and obtain external professional advice on
regulatory and legal matters.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
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KEY RISK METHOD TO MANAGE RISK
Safeguarding failure • Regular reviews of safeguarding and pastoral support, including via the
Designated Safeguarding Lead (‘DSL’), Council, and the Trustee with
responsibility for safeguarding. Training for all staff, Trustees, and volunteers,
scrutiny over appointments, and regular reviews of the Single Central Register.
Investment in strong pastoral and welfare support for pupils. The DSL now has
the support of a Director of Safeguarding, which frees her up to focus on her
substantive role.
Increased costs of running the • Always continue to assess the risks and options available in order to provide
School due to inflationary pressures financial capacity on the bottom line, and review the forecasts, taking account
including insurance, energy, food, of the number of variables. Further work on cost control measures and
wages, pensions alongside pressure benchmarking, driving efficiencies, comprehensive tendering processes, and
on parental ability to pay forward purchase contracts where beneficial.
• Regular reviews of costs and fee levels together with a balanced approach
to funding places through awards. Close debtor control, target increase in
alternative funding sources including letting and investment income, and close
monitoring of costs and benchmarking against key performance indicators.
Drop in pupil numbers due • Review parent body and background and consider new markets. Revise awards
to industry factors and fee structure with move away from scholarships to greater focus on bursaries. Focus
affordability on Year 11 retention. Additional resources for the Marketing and Admissions
Department. Promotion of offer and continued programme of taster and
experience days; targeted marketing for Open Days. Increased campaign for
meeting local Prep Heads and investment in online marketing tools to improve
entry into Roedean at Year 9.
Condition of the estate and • Ongoing investment and upgrades to on-site facilities via refurbishments and
increased risk of damage arising ongoing planned preventative maintenance, as part of the comprehensive
from extreme weather events and/ structural survey conducted by Stace LLP, and interim stone surveys bi-annually.
or health and safety (H&S) issues • H&S and other relevant requirements (e.g. environmental and equality)
considered as part of estate works, alongside affordability, and monitored by
Council, its Estates & Operations Committee, and retained external consultants.
H&S representative on Council and reporting on H&S to Estates & Operations
Committee.
Out-of-date governance • Council commissioned an independent governance review in 2021, and one
arrangements focus area was the 1938 Royal Charter and Bye-Laws, some of which may
benefit from updating, in order to maximise Roedean’s strategic and operational
flexibility, and optimise governance. Any changes to the Royal Charter will be the
result of working together with all relevant stakeholders and will require approval
of Governors and Privy Council. Obtain external legal and professional advice and
engage with regulatory bodies such as the Charity Commission.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **KEY RISK**
## **METHOD TO MANAGE RISK**
- Ability to recruit and retain pupils, • Maintain focus to ensure that the Roedean ‘product’ (academics, co-curricular, including due to the cost-of-living quality of boarding) continues to appeal to the marketplace; active targeted crisis and competitor activity recruitment programme from prep and junior schools, as well as agents and key contacts in the international markets.
- Continue to manage Roedean’s reputation, including work to enhance the School’s online presence, including via social media. Revise awards structure with move away from scholarships to greater focus on bursaries. Promotion of offer and continued programme of taster and experience days; targeted marketing for Open Days. Increased campaign for meeting local Prep Heads and investment in online marketing tools to improve entry into Roedean at Year 9.
## Overall risk management controls
In addition to the specific measures outlined above, the overall key controls used by the Charity include:
- formal agenda for all Committee and Council activities;
- detailed terms of reference for all Committees;
- comprehensive strategic planning, budgeting, and management accounting;
- established organisational structure and lines of reporting which are reviewed on a regular basis;
- formal written policies;
- clear authorisation and approval levels for both invoices and payments;
- vetting procedures as required by law for the protection of pupils;
- independent voluntary external audits and inspections of different areas of school life;
- reviewing new estate developments against the masterplan, budget and pupil numbers; and
- regular training and continuous professional development for Trustees and staff.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Additional Governance Information
## **The Code of Fundraising Practice**
Fundraising activities are not outsourced to professional fundraisers or commercial participators and are only carried out internally, and by select volunteers who are committee members of the Old Roedeanians’ Association. The Charity is registered with the Fundraising Regulator and is committed to adhering to the Code of Fundraising Practice, and there have been no breaches of this code.
No complaints have been received about the fundraising carried out by the Charity. The Charity has signed up to receiving suppressions under the Fundraising Preference Service. All of our fundraising and customer service staff and volunteers follow best-practice guidelines for dealing with vulnerable people.
We comply with all legal requirements relating to data protection under General Data Protection Regulation (‘GDPR’). We share certain data under strict conditions with external organisations to develop and enhance our fundraising capabilities. We do not share any data for the purposes of fundraising. We have had no breaches of data protection laws.
## **Data Protection and GDPR**
In order to ensure its adherence to data protection legislation, including GDPR, the Charity has a Head of Data Management and Data Protection. Its Privacy Policy is available on the School website: https://roedean.co.uk/wp-content/uploads/2025/03/ Roedean-School-Privacy-Notice-AMC-Feb-2025.pdf There is significant work each year in training and developing staff and volunteers’ understanding of data protection, and investment is made in our IT infrastructure to minimise risks to data held.
## **Health and Safety (H&S)**
Roedean is also vigilant concerning its H&S responsibilities, and it contracts Assurity Limited to monitor all systems externally, alongside the Strategy & Risk Committee, the Estates & Operations Committee, and the internal Health & Safety Committee. There is also an internal Health & Safety Officer, as well as a Council representative for H&S. The latest report from Assurity, as at December 2024, shows a very positive result for the School and a strong culture of H&S.
## **Gender Pay Gap Report – Roedean**
Under the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, all organisations with more than 250 employees are required to publish the difference in pay between their male and female employees. The latest report is available on the School website: https://www.roedean.co.uk/policies
As an educational charity, Roedean School is committed to being inclusive, as we see the diverse population of both pupils and staff as one of the School’s greatest strengths. In order to ensure everyone can thrive and meet their full potential, it is essential that inclusion and equality of opportunity are at the core of all the School’s activities, including pay, and terms and conditions.
Roedean is an equal opportunities employer, and the School is committed to ensuring a working environment free from any discrimination. Training and continued professional development opportunities are provided for all staff, irrespective of gender.
## **Remuneration**
The Remuneration Policy is decided by the Council, with the objective of providing appropriate incentives to encourage enhanced performance and of rewarding, fairly and responsibly, individual contributions to the School’s success. Specifically, the remuneration levels of the Head and the Director of Finance & Administration are based on performance and decided and agreed via the Governance & Remuneration Committee.
The appropriateness and relevance of the remuneration policy is reviewed regularly, including reference to comparisons with other independent schools, to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere, and maintains salary levels within appropriate boundaries.
The School continues to aim to recruit, subject to experience, at a competitive level, whilst providing scope for rewarding excellence. Delivery of the School’s charitable vision and purpose is primarily dependent on the key management personnel, and staff costs are the largest single element of the charitable expenditure.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Investing In Roedean’s Estate
Roedean moved to its current site in 1898, and our unique location ensures students can enjoy the best of both worlds: proximity to one of the UK’s most vibrant and dynamic cities, and a sense of calm from our cliff-top setting between the edge of the South Downs National Park and the English Channel.
Alongside the high-quality learning and teaching environment, market-leading boarding accommodation, and excellent sports facilities, the girls have acres of space to explore, including our own farm. Significant resources are invested each year in maintaining and enhancing this historic, grade 2 listed building, and our estate, such that the School continues to be seen as an acknowledged centre of excellence in girls’ education.
## Enhancing facilities at the School
The capital investment programme continued during the academic year and post year-end, with a focus on improving facilities for the education of the students, as well as preserving the many historic buildings on site which are so important to the School’s heritage.
## Library
The Library refurbishment project commenced in the latter part of the academic year 2022-23 and was completed in April 2024. The design of the Library provides a multi-use space, enabling activities from quiet study and small group work to seminars and presentations for up to 80 people. It also houses the new student laptop loan facility. The new ceiling represents the arts and crafts design, and the new contemporary lighting design highlights the restored portraits of our Founders.
## Chapel
Repairs were undertaken to secure the chapel including the fibrous ceiling, which allowed it to reopen from the start of the academic year 2024-25.
## Sports
New swimming pool windows were installed during the summer 2024 providing spectacular views out to sea, and cricket netting is in place on the south side of site enabling matches to go ahead on the pitches.
## Boarding Refurbishments
Further to the major development of boarding a few years ago, the School has committed to an ongoing refurbishment programme for its boarding houses. Work has also continued on parts of Keswick House, one of the Sixth Form houses, and Houses 1 – 4, and a significant investment in Lawrence House was completed over the summer 2024.
## Teaching and learning spaces
The School continued its investment in classroom upgrades with a number of areas being refurbished during the recent period, including the Design Technology and Art building, and this scheme will continue in future years following a continued three-year rolling investment plan in teaching spaces, including teaching aids (manual and electronic), furniture, decoration, storage, and lighting levels. Input from the pupils is key in this process, enabling the girls to learn in the best possible surroundings. The newly refurbished Economics and Psychology classrooms set the template for future classroom upgrades.
## Chandler Building
The newly built PE classroom overlooking the sea was opened in the Autumn term 2024. It has been named in honour of Jane Chandler, who dedicated an extraordinary 34 years to the School, and is a fitting acknowledgement to everything Jane did for Roedean.
As you would expect, this work sits alongside the continuation of fire and health and safety upgrades, investments in accessibility initiatives, and ongoing energy efficiency initiatives to reduce costs and minimise Roedean’s environmental impact.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Preserving the Heritage
The School continued with its significant building and infrastructure survey programme, which re-commenced in 2020, together with its property consultants, Stace LLP. This plan means the School can focus on preserving the historic buildings and on futureproofing them for years to come, with the main focus being on stonework, roofs, and utilities. During summer 2024 the main school, dining wing, Houses 1-4 and the New Wing underwent a limewashing programme to preserve the integrity of the buildings and create a dynamic look to the exterior.
## Moving Forward
Creating and maintaining excellent facilities is a priority for Roedean as part of the School’s masterplan. The School’s aim is to create the best possible environment for pupils, so that they can achieve as highly as possible and fulfil their potential. A full review of the estate and masterplan continues, and enhanced Science, Technology, Engineering, Arts and Mathematics (‘STEAM’) amenities, additional classroom builds and sports facilities are the identified priorities going forward.
As such, further developments are planned to coincide with the period between ‘125 Years at Roedean’ (on the Roedean site) in 2023, and the School’s 150th anniversary in 2035.
## Information Technology (IT) Investments
The School continued to invest in its IT resources both from a security perspective and to enhance the experience of the students. The major investments were in upgrades to classroom IT facilities, fibre cabling and WiFi improvements to boarding accommodation, access control installation, and the continued roll out of surface laptops and SmartScreens to the community.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Streamlined Energy And Carbon Reporting (SECR)
The School engaged its utility consultants, Auditel (UK) Ltd, to review its greenhouse gas emissions and energy use data to compile a report to meet the SECR reporting requirements. The report covered the year to 31 August 2024, and was produced using interval meter data, full year billing data, travel expense claims, fuel cards and vehicle fuel data. The table summarises the energy use in the year relating to electricity, gas combustion and transport.
Location based reporting of Scope 2 electricity is mandatory and is included in the total emissions. Voluntary disclosure of market-based kWh and emissions resulting from purchasing renewable electricity is also shown in the table below.
_GHG emissions and energy consumption (source: Auditel (U.K.) Limited)_ **Energy and Carbon Calculation**
|**Type of emission**
**Activity**
**kWh**
Scope 1
Natural gas
4,434,462
Vehicle feet
451,091
**Sub-total**
**4,885,553**
Scope 2
Electricity
1,213,671
**Sub-total**
**1,213,671**
Scope 3
Greyfeet
13,832
**Sub-total**
**13,832**
**Total gross consumption and emissions**
**6,113,056**
**Metric used:**
Average number of pupils
**Intensity ratio:**
tonnes of CO2e per Average number of pupils
Emissions reduction from purchase of renewable electricity
**Resulting reduced emissions total**
Resulting reduced intensity ratio:
tonnes of CO2e per Average number of pupils|||2023/24
2022/23|
|---|---|---|---|
||**Activity**|**kWh**|**tCO2e**
**% of total**
**kWh**
**tCO2e**
**% of total**|
||Natural gas
Vehicle feet|4,434,462
451,091|
811.06
69.13%
4,589,038
839.47
69.18%
107.76
9.19%
460,485
110.04
9.07%|
||**Sub-total**|**4,885,553**|
**918.82**
**78.32%**
**5,049,523**
**949.51**
**78.25%**|
||Electricity
**Sub-total**|1,213,671
**1,213,671**|
251.29
21.42%
1,256,222
260.13
21.44%
**251.29**
**21.42%**
**1,256,222**
**260.13**
**21.44%**|
||Greyfeet|13,832|
3.06
0.26%
16,712
3.81
0.31%|
||**Sub-total**|**13,832**|
**3.06**
**0.26%**
**16,712**
**3.81**
**0.31%**|
|||**6,113,056**|
**1,173.17**
**100.00%**
**6,322,457**
**1,213.44**
**100.00%**|
||||687
705|
||||1,708
1,721|
||||251.99
260.13|
||||**921.88**
**953.31**|
||||1.342
1.3522|
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Intensity ratio
It was decided to use Number of Pupils as the metric, measured on average. The resulting intensity ratio of tCO2e per number of pupils will best reflect changes in operation and energy consumption over time.
## Efficiency narrative
In pursuit of progress towards achieving our sustainability goals, better energy management is being introduced through:
- Improvements to insulation – window, loft insulation, LED lighting etc
- Improved boiler management
- Better education regarding energy conservation – delivered through student projects:
- Switching off lights
- Turning down radiators/thermostats
- Closing windows
All of the School’s electricity is purchased from renewable sources.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Progress Updates And Operational Report
## Academic Progress and Achievement
## **Outstanding Academic Achievement**
Roedean is renowned for providing a genuinely holistic education, whilst ensuring students excel academically. Lessons are based on a rigorous academic approach with all learning targeted towards A grade performance, and support and differentiation for those individuals who require this. Learning is highly collaborative, both between students and between students and teachers.
A broad curriculum in Key Stage 3 enables students to find something about which they are passionate, experience success, and transfer the confidence which arises from this to other areas of their academic and school life. Students are encouraged to explore their academic interests through further research and co-curricular activities, undertaking projects and presenting their findings to their peers.
## **Leaver destinations and careers**
The vast majority of Roedean pupils progress on to higher education. Courses followed by recent leavers ranged from Medicine to PPE, Drama to Natural Sciences, Photography to Engineering, and Fashion Management to Liberal Arts.
Of the students who took up places in September 2024 or who deferred to 2025 and for whom we hold data, 24.4% are reading Arts and Humanities subjects, 31.1% are reading Social Sciences subjects, and 44.4% are reading STEM (Science, Technology, Engineering and Mathematics) subjects. Students at Roedean have an exceptional record at gaining places in STEM subjects, and this year was no different.
Of the 2023-24 Year 13 cohort, 3.8% of Roedean students moved on to courses at Oxbridge – including Maths and PPE. 5.8% of the cohort went on to study Medicine, with 55.8% moving on to study at Russell Group universities.
## **Examination Results**
Excellent teaching coupled with a programme of modular assessment weeks, undertaken in examination conditions, together with clear communication with students and parents of timetable and topic information, have helped students to achieve outstanding results.
**A Level:** The Class of 2024 have achieved outstanding A Level results, with 24.4% of all grades at A*, and 57.2% at A*-A. Six remarkable students were awarded all A* grades, with 21 top grades between them. In addition, one student also achieved four A* grades and one A, which is outstanding. 19% of the cohort achieved two or more A* grades, and 9% achieved three or more of these top grades. Overall, 30% of the cohort were awarded all A*-A grades, and 82% of the year-group achieved at least one A grade.
**GCSE:** This year our GCSE students have smashed all records! This is the largest cohort in years, who took a total of 1,353 GCSEs, and 36.2% of these were awarded Grade 9, which is 4% higher than last year. This elite grade is once more the most common GCSE result at Roedean by some margin. 79.1% of all GCSEs were awarded Grades 9-7, equivalent to the previous A*-A – this 5% increase on last year makes these the best-examined results in two decades.
Each year there is a significant focus on activities to ensure pupils are ready for the next steps in their education and the world of work. Examples this year included a Careers Fair, which drew in students from all year groups to listen to different contributors from our OR, parent and wider Brighton communities, as well as the Spring Pathway lecture series (careers focused lectures covering: STEM; Business, Economics and Society and Creative and Performing Arts), International Women’s Day and a Higher Education Evening.
Careers provision at Roedean continues in all year groups with Year 7 and Year 8 receiving a specifically designed careers course as part of their Head, Hand and Heart (‘HHH’) programme and Year 9 having increased support in making options choices and considering careers pathways through their PSHE programme, careers events and vertical mentoring schemes. In September 2024, we launched our Career School programme with INVESTIN, which will provide Year 10 and Year 12 with a bespoke programme of work experience, careers modules and a simulated assessment centre.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Pastoral Care and Pupil Welfare
## **Safeguarding**
The School continues to put safeguarding at the heart of its work with students, and benefits from a high level of reporting and conscious observation of pupils by staff and peers. MyConcern (the safeguarding concerns reporting system) is now fully embedded, and this year there has been a focus on refining record keeping on this platform and on staff access across all year groups to ensure sensitive information is secure and usable.
Priorities for this year have been to support all staff in full and ongoing safeguarding training, constant upgrades to systems for filtering and monitoring, and increasing knowledge. In addition, the roll out of the electronic Green Form for students to self-report or to report concerns about peers has been successfully rolled out. Twenty members of the pastoral team and academic staff completed their Level 3 training.
Trends in safeguarding continue to be consistent with the national picture. Anxiety levels across all year groups and families who experience extended wait times when accessing support from the Local Authority Early Help system.
Gaelle Sullivan (Safeguarding Trustee) visited School every term to meet with both key pastoral staff and students, to look at logs and the single central record and continues to work closely with the DSL. Processes and lessons learnt were reviewed and are written on the Logs and signed by the Head, DSL and Safeguarding Trustee.
## **Remarks from Safeguarding Trustee**
The academic year 2023-24 has seen a number of changes in pastoral staff and leadership. The investment in a Director of Safeguarding is testament to Roedean’s commitment to a safeguarding culture. The Director’s experience and knowledge of the local context are a welcome addition to the safeguarding team. This goes hand-in-hand with a more collegiate approach in welfare meetings as observed on one of my school visits.
The revamped pastoral structure and DSL training for key staff allows the girls to experience consistency and form strong relationships with staff. The shift in the use of permissions on MyConcern has also been instrumental in ensuring that information is only accessible on a need-to-know basis in line with guidance. There are detailed logs kept for bullying and unkindness incidents, as well as thorough SCR procedures.
There is a concern for procedure, fair processes and the best possible outcomes for the girls. The commitment to reflective practice and continuous improvement is also manifest, making Roedean a safe and supportive environment for all girls.
## **Pastoral**
The pastoral team continues to support student wellbeing, and the Head of Year and Housemistress teams are firmly established, which means stability and familiarity for students and staff.
## **Policy Update**
The Safeguarding Policy was updated following KCSIE 2023 and then again in the Spring term following several updates. These changes included ‘Working together to safeguard children’; ‘Channel Duty Guidance’ in December 2023 and February 2024; and ‘Prevent Duty Guidance for England and Wales’ in March 2024. In the Summer term further updates were completed following new guidance on ‘Sharing nudes and semi nudes’, March 2024, and also ‘Information sharing’ in May 2024.
A new rewards and sanctions policy was introduced which allowed students to have clear boundaries which helped with high-level behavioural incidents. This also gave students the safety net to make mistakes, understand consequences as well as to move forward positively.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **Key stage headlines**
Key Stage 3 (Year 7, 8, 9)
- Year 7 have continued to settle in well and have been able to utilise pastoral support when navigating changes such as in friendships.
- Year 8 enjoyed their Bollywood Dance workshop, which was a huge success, as well as completing their Charity MNDA 24-hour run/walk and sleepover.
- Year 9 continued to focus on building a sense of community and belonging, engaging in Duke of Edinburgh and completing their charity abseil off the i360.
- KS3 assessment week went smoothly, and students felt prepared and calm leading into their exams. The focus on PSHE ahead of assessments was revision techniques and self-care. The week ended with a celebratory social afternoon with bouncy castles and ice cream.
Key Stage 5 (Sixth Form)
- Year 12 completed a highly successful first year in the Sixth Form. The atmosphere in the Sixth Form centre continues to be happy, productive and community focused.
- The new Prefect team took up their roles at the start of the term and are busy initiating their projects with the help of their staff leads.
- A very successful and enjoyable dinner-dance with Tonbridge School took place just before half term.
- Peer listeners have continued to offer support to the Pre-A students. They were also available during assessment week. The Year 8 Peer listeners are hoping to organise a mini-social for Year 8. They remain available for 1:1s and drop-in sessions.
- Students have worked extremely hard and have behaved impeccably during the examination season.
Key Stage 4 (Year 10 & 11)
- Enjoyed a social with Tonbridge School
- Enjoyed breakfasts in Keswick House with Year 12 as an opportunity to spend time in the Sixth Form space
- Paintballing trip on their final Year 11 school day
- Celebration Dinner Dance
- Students felt prepared and calm starting their GCSE examinations
- Enjoying the use of the revamped Library as a space during Study Leave.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Beyond The Classroom – Co-Curricular
At Roedean, the breadth of our work beyond the classroom and through co-curricular activities continues to be one of our key strengths. The co-curricular programme, which included 155 weekly activities, provides wide-ranging opportunities for the girls to develop and thrive, try as many new things as they wish, and enjoy their all-round school experience.
Much of the planning took place last year for the introduction of Combined Cadet Force (‘CCF’) in September 2024. This involved a change to the shape of the day for the entire school on Wednesday afternoons, which also created an ‘activities afternoon’ – Years 7-8 are in fixtures or Games, Years 9-10 are doing DofE or CCF, Year 11 and 13 have timetabled academic clinics, and Year 12 continue with the Community Action Programme.
Our approach is designed to ensure that every student can discover something she is genuinely passionate about, whether that be physical, creative, cognitive, or expressive, and regular access to these activities underlines the holistic nature of our educational provision, in line with our fundamental ethos.
## Art and Design
The Art Department at Roedean is a busy and energetic hub of creativity, where girls are encouraged to experiment and explore their ideas. As well as work in drawing, painting, sculpture, craft and design, girls develop knowledge of great artists and designers, as well as the historical and cultural development of art. Art is available at GCSE and at A-level. Girls have a choice between Art, Photography, and Textiles. The new courses in Textiles and Photography at A-Level were highly successful, with all students achieving A* grades. This year our first cohort of Art Foundation students completed their course, achieving 100% Distinction.
The School has an outstanding track record of former pupils going on to successful careers in the creative industries. As well as the inspiration provided by OR artists such as leading designer Clarissa Hulse and the ever-popular Enid Marx, the girls very much enjoyed hearing from OR Anabela Chan (who has worked on creative projects with Hermes and Jimmy Choo) at this year’s International Women’s Day.
## Performing Arts – Dance, Drama and Music
## **Dance**
Dance continues to be an integral part of school life, both within the curriculum and in the co-curricular programme. There are over 70 co-curricular lessons running every week, as well as GCSE Dance and a range of activities, including Street Dance Club, Afro-Fusion club, weekly Dance Scholars’ sessions and student led K-Pop classes. The GCSE cohort this year was able to achieve 100% 9-8 (A**-A*), which are fantastic results and the best results the department has seen in recent years.
Throughout the year Dance was also heavily involved in other school performing arts events creating choreography for _Legally Blonde_ and music production _Waltzing Through Time_ , where pupils performed the Can Can and the famous cygnets from Swan Lake. The Dance Department had pupils take RAD Ballet and ISTD Modern, Jazz and Tap exams in the summer as well as filmed examinations throughout the year. All pupils achieved excellent results, and several students achieved their Advanced 1 Ballet exam, which is an incredible achievement. Overall, it has been a very positive year for Dance and the department is looking forward to introducing even more live performances and workshops and activities to the programme.
## **Drama**
‘The Play’s The Thing’ has been the motto for this academic year for the Drama Department and there have been two full scale play productions performed in our theatre. The first play was in November with Key Stage 4 and 5 productions of _Jane Eyre_ . The 14 strong cast expertly represented aspects of Jane’s life by creating three-dimensional characters who were ever-present on stage, for the 90-minute duration. They seamlessly slipped between their choreographed ensemble sequences whilst portraying key characters from the story. The physical ability of the cast to synchronise, co-ordinate, and imagine Jane’s world culminated in a magical performance, underscored by mesmerising cello music played by Sarah, who curated and composed all the music. There was also a post-show discussion with Madeleine Worrall, who played the title role at The National Theatre. The second play ended the year with a KS3 production of _A Midsummer Night’s Dream_ . This was a joyous production as all 30 young actors brilliantly interpreted Shakespeare’s language and made it relevant to a younger audience. This has shown how skilled the students have become in their ability to project and communicate on a large stage.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
Private Speech and Drama lessons have continued to be popular across the school, with 71 pupils taking LAMDA exam between September 2023 and June 2024. We are thrilled with the pupil’s enthusiasm and dedication, which has been reflected in the 95% distinction rate. Exams taken included Acting, Group Acting, Musical Theatre and Verse and Prose. We are particularly proud to have 16 pupils gaining distinctions at medal level grades, including four being awarded the top Grade 8, Gold Medal award.
Roedean pupils have engaged in a huge breadth of dramatic arts this academic year, participating in workshops, lessons, showcases and theatre trips. These experiences have provided pupils with the opportunity to produce an engaging, diverse and culturally inspiring theatre programme in the plays and musicals performed in our Theatre. Ultimately, this has been an inspiring year for everyone involved, from the casts, the student technicians, and the wider school community who have supported and enjoyed the programme in front of the curtain.
We also collaborated with Dance for House Dance and Drama and saw some terrific extracts of _Annie_ , _Bugsy Malone_ , _Matilda_ and _High School Musical_ . In the Spring we had an excellent range of practical devising and text performances for GCSE and A-level. We ended the year by celebrating these achievements in the Summer Term with The Roedean Drama Showcase where parents were able to see a range of extract performances from select GCSE, and LAMDA exam performances alongside student led musical theatre numbers, KS3 drama scholars and _A Midsummer Night’s Dream_ .
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **Music**
Our first major concert of the season celebrated 100 years of Disney. This was a theme requested by the students and gave us the opportunity to explore orchestral music such as _The Sorcerer’s Apprentice_ (used in _Fantasia_ ) as well as to enjoy classics of the Disney repertoire such as the music from _The Lion King_ , _Frozen_ , _Bambi_ , _Toy Story_ and many more great films.
The closure of the Chapel and the Old Ref gave us many challenges and opportunities during the year. We moved our teatime recitals to the drama studio, our orchestral rehearsals to the studios and had to move several grand pianos! Our Carol Service took place at St Peter’s in Kemptown, and this was a great experience to take this event into a large venue. We even had a projection of our own Chapel’s stained glass.
Our Spring Gala Concert featured dance music from Waltzes, Ballet and Tap to 70s Disco and the 90s dance music of Massive Attack and Fatboy Slim. Highlights included several numbers with dancers on stage (including the Can Can and Tchaikovsky ballet excerpts), Brahms’ Love Song Waltzes with Senior Singers and 12 pianists and Dancing Queen with Senior Singers and Orchestra which we reprised at Speech Day.
Zyta). The second half of the concert contrasted the beautiful _Serenade to Music_ with the exciting _Chichester Psalms_ with an incredible array of percussion in the orchestra. The choir and orchestra rose to the challenge.
As well as the major concerts, we held many teatime recitals, evening recitals, Open Mic events and collaborated with the Dance and Drama departments to stage the musical _Legally Blonde_ . We were pleased again to have several student musicians in prominent positions in the band (drum kit, bass guitar and keyboard).
We concluded the year with another strong set of GCSE and A-level results. GCSE was especially good and saw our highest non Covid-adjusted grades at 9-8 and 9-7 and our highest-ever proportion of Grade 9s.
For our Brighton Fringe Festival Concert, we took the Orchestra, Choir and soloists to All Saints Church in Hove. This concert featured wonderful solo performances from talented students from Years 10-13 (Vanessa, Niamh, Galina, Ella, Alissandra and
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Sport
Last year, the Sports Department reassessed its mission to provide Roedeanians with the opportunities to enjoy, compete, and excel in a range of sports and activities. Through this experience, we aim to build character, develop leadership skills, instill core values, and promote a healthy, active lifestyle. This review helped us identify areas where we successfully embody this mission and those where we can enhance our approach.
It remained a national challenge to maintain participation levels, especially among post-16 students. To address this, we were committed to offering a broad range of sports across our core pillars of ‘enjoy, compete, and excel.’ Our main competitive focus continued to be on four key sports: hockey, netball, cricket, and swimming, supplemented by a strength and conditioning program to help students reach higher performance levels. This year, our teams participated in 425 fixtures across eight sports. We continue to offer competitions in our primary sports across all age groups, along with opportunities in additional sports like volleyball, badminton, and football. Encouraging enjoyment was the foundation of long-term participation, and with new activities like social swimming sessions, a running club, and yoga, we saw increased engagement across all year groups.
Every student also had the chance to participate in House sporting events, including the highly anticipated House Swimming and Sports Day.
Roedean girls continued to excel in a range of sports including netball (with a significantly expanded programme), hockey (where Roedean girls competed in 124 fixtures and supported the Roedean Hockey Academy), cricket (we were once again named one of the country’s top 20 girls’ schools for cricket), tennis, athletics and swimming (although weather conditions forced us to abandon part-way our record-seeking crossChannel attempt).
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Co-Curricular and Community links
Roedean’s co-curricular programme remained a key element of our offerings, with over 30 activities available each week. Private lessons in activities such as horse riding, sailing, fencing, karate, and badminton allowed students to engage in physical activities beyond the standard curriculum. We were also thrilled to launch a sailing programme, with all Year 7 students participating as part of their ‘Wild Friday’ programme, alongside additional Saturday lessons for keen sailors. We have now a fleet of boats and Roedean sailing equipment which will make the experience for our sailors a great one. This year, we focused on strengthening community connections to expand opportunities for our students and support local youth. Our new partnership with Whitehawk Football Club aimed to enhance our girls’ football programme moving forward.
## **Curriculum PE**
Curriculum PE was offered weekly to all students in Years 7–9, covering athletics, gymnastics, tennis, swimming and strength and conditioning. All of these sports focus on activities which develop core movement skills and physical literacy. The Strength and Conditioning module focused on foundational strength techniques and helped to familiarise students with gym equipment in order to increase confidence in these settings to continue exercising in and out of school. Swimming instruction was also integrated into the curriculum, advancing our goal of ensuring every Roedean graduate could swim 25 metres confidently. Tailored support was also provided to those who excel in sport, as well as swimming sessions for those not as experienced in this activity.
## Other Co-Curricular Activities
Roedean offers many other co-curricular activities in addition to our focus on the arts and on sport, for example:
## **Duke of Edinburgh’s Award**
Increased numbers of students undertook the Duke of Edinburgh Award Scheme (‘DofE’) Award last year, a significant proportion of which is obtained by ‘service’ to the community, alongside an expedition and other activities.
## **Roedean Farm**
The Roedean Farm continues to play an important part of the wider holistic curriculum. It helps facilitate the co-curricular Farm Club, ‘Wild Friday’ Farm Group, Head, Hand and Heart (‘HHH’) Curriculum, as well as our Community Action Programme (‘CAP’). It also continues to provide valuable opportunities for DofE volunteering and partnership visits from local schools and charities. Local rare breed Southdown Ewes were successfully lambed on site giving a first-hand insight into the process. The numbers of livestock (chickens, ducks, goats and sheep) have stayed stable through good husbandry.
## **Enterprise**
Year 9 took part in an Enterprise Day to learn the essentials of running a business and develop skills in marketing, management, and sales, with students competing in groups to develop and sell a product to present to a panel of judges. They also had the opportunity to participate in the 10x challenge, where they had £10 and four weeks to transform this into profit (including a donation to a charity) – they also produced some scrummy gourmet marshmallows!
Students in Year 12 also took part in Young Enterprise, forming a company that produced bespoke and sustainable jewellery created from items foraged from the beach. Students learned the legal and financial responsibilities involved in running a business, experienced the hard work required to drive forward a project, and developed skills across all areas of business management under the guidance of their Business teacher.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Partnerships
Partnerships with other community organisations form an important part of Roedean’s public benefit, as well as providing numerous development opportunities for girls and staff.
## St Mark’s CE Primary School
Roedean has a strong connection with St Mark’s, and this work enhances the children’s opportunities at this local community primary. Both schools are committed to protecting the Christian ethos of St Mark’s as set out in its Trust Deed, and to working within the requirements of Roedean’s Royal Charter and charitable objects.
Roedean transports one year-group from St Mark’s to our school site for weekly enrichment activities, with both sporting opportunities and discrete academic workshops led by Roedean staff – this means that all pupils in Years 4, 5, and 6 come to
Roedean every week for one term on rotation. In addition, our students act as ‘Reading Buddies’ for St Mark’s pupils on a weekly basis, and other Roedean students are paired with those St Mark’s pupils for whom English is not their first language as ‘Language Buddies’. CAP groups in Year 12 also regularly volunteer at St Mark’s, leading music workshops, and there are ad hoc activities led by Roedean students to raise awareness of cultural events, such as Lunar New Year and Nowruz (Persian New Year).
The partnership with St Mark’s aims to ensure that both schools are able to share and celebrate expertise and resources, and to enable improved outcomes for pupils at Roedean and St Mark’s. Teachers at both schools benefit from development opportunities, and there are significant volunteering opportunities for Roedean pupils.
## Community Impact At A Glance
## **Fundraising And Support For Other Charities**
Last year, the School community raised over £46,000, far exceeding the previous record-breaking total – this is almost certainly in large part down to the fact that each year-group has its own discrete charity, some local and others further afield, and representatives from each charity come to School to address them in Assemblies, making the point of fundraising all the more tangible for them.
There were a number of large-scale year-group charitable events over the course of the year:
- every girl in Year 7 abseiled off Peacehaven Cliffs for Rockinghorse
- Year 8 pupils undertook a 24-hour challenge, walking around the fields overnight, and covering in excess of 3,000 kilometres, for Motor Neurone Disease Association
- 30 students in Year 9 completed the 150-metre iDrop, from the iconic i360, for Raystede
## **Project 125 Moldova**
Following the success of the hugely impactful visit to Moldova in July 2023, the second group of twelve students travelled to Moldova in the first week of the summer holidays in 2024, to teach English to 62 underprivileged children there (both Ukrainian refugees and Moldovan orphans). The group was supported by the NGO Hope4 and its founder, Chris Lomas, who found us accommodation, a venue to teach, and publicised our classes in Chişinău. In July 2023, Roedean pledged to cover 3% of the orphanage’s annual running costs, about £5,000, each year for the next decade – we were proud last year to hand over a cheque for £8,300, which will make a huge difference to the lives of the children in the Rainbow of Hope Orphanage. We also spent half a day in a warehouse handing out donated clothes and shoes to Ukrainian refugee families.
- 45 students in Year 10 slept under the stars to raise funds for the homeless charity, Off The Fence
- 10 Year 11 students ran the RISE 8K
We also support ten girls around the world through PlanUK, and other charities are supported as well, on an ad hoc basis.
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Roedean Academy
The Roedean Academy continues to be a successful initiative, and this is the seventh year it has brought together likeminded, academically-striving students in Year 10 from six local state schools. The programme of supra-curricular enrichment modules, lasting six weeks in the Spring term, is also complemented by touchpoints in the other two terms; they also return to Roedean in June to present the findings of their independent academic research project, which they have been conducting since the Spring.
## Roedean South Africa (Established in 1903)
Last year, much of the planning took place for the Year 9 exchange between Roedean and Roedean South Africa, our sister school in Johannesburg. In the spring term of 2025, six students in Year 9 had the opportunity to spend three weeks in Johannesburg, before returning with their exchange partners to Brighton for three weeks.
## The Roedean School Mission Fund
The Mission Fund was registered as a charity in 1965 (charity registration number 244996), having been originally set up by the Old Roedeanians’ Association (‘ORA’) and Roedean School. It provides grants to significantly underprivileged children, often focusing its awards to groups which give restorative holidays to abused and emotionally deprived children. As per the accounts submitted to the Charity Commission for the financial period ended 31 January 2024, grants of £3,865 were awarded to charities helping childen aged 16 and under in the UK.
## Roedean St Mary’s Hall Trust
The Roedean St Mary’s Hall Trust (charity registration number 307063-2) (‘Trust’) holds funds as a permanent endowment, which are invested on a total return basis to produce a return for the Trust’s objects. Funds allocated as income are used to enhance our current bursary offering, thus furthering opportunities for girls to gain access to the Roedean education. Roedean St Mary’s Hall Trust has provided significant levels of support to our pupils. Roedean (as Trustee of the Trust) selects beneficiaries and, along with other bursary programmes, continues to make funds available to widen access to girls from many backgrounds.
## Parents’ Guild
The excellent work of the Parents’ Guild (Roedean’s PTA), in partnership with the School, continues to benefit the girls in a number of ways. The Christmas Fair was again hugely fruitful, and the Parents’ Guild Committee generously donated all of the funds raised at the event to the School’s charities.
## Alumnae Relations and Development
The Roedeanian Office and the ORA have continued to work closely together, with the Roedeanian Office continuing to support with communications and moderating the Facebook group. The team has also continued to support other groups, in particular the Roedean Rocks Facebook group, and the OR Channel Relay Swim Team.
The Roedeanian Office continued to support the ORA with their events, as well as hosting our own and a joint event. Events this year were varied. Social and networking events included the addition of the new Young Roedeanians Evening, the London Lunch, ORA Christmas Drinks, OR Spring Drinks, and a very busy and successful Roedean Day. Sporting events included the ORA Tennis Day as well as OR vs the School matches in both netball and hockey. Regional events were re-instated. There were receptions in Hong Kong separately for Parents and ORs (both hosted by Niamh Green, Grace Chaston, Alison Wienekus, and Mary Henderson) and a lunch in New York for ORs jointly hosted by the ORA and School with Niamh Green, Grace Chaston and Noëlle Chase all attending.
29
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
Work to engage support from our community for our careers programme has continued this year with strong support from parents, ORs and external supporters. The Sixth Form Pathways Lecture series was a great success, with nearly all of the speakers being either an OR or current parent. Ad hoc work experience and mentoring requests also continued throughout the year. The Careers’ Fair was again held in-person, and received very positive feedback from students, parents and contributors.
We also carried out a survey of ORs in April, which saw nearly 300 ORs respond. This has greatly improved our data on what careers ORs are following, and whether they are happy to provide careers or fundraising support.
30
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Board Structure And General Meetings
(information included up to the date of signing of the Report)
## **President of the Corporation**
Mary Henderson (OR)
## **Chair of Council**
Delva Patman FRICS (appointed interim Chair of Council 1 September 2025), FGP, SRC, E&O, ESG, GRemCo, Awards, ISC
Anthony Millard BSc (Econ) PGCE (Oxon) (appointed Chair of Council 17 January 2024, retired as Chair of Council 31 August 2025, continuing in capacity as a Trustee), FGP, SRC, ESG, GRemCo, M&D, E&O
Guy Perricone (co-opted 1 September 2023, resigned 11 January 2024) SRC, E&O, FGP, GRemCo
## **Vice-President**
Virginia Stephen (OR)
## **Vice-Chair of Council**
Delva Patman FRICS (appointed Interim Chair of Council 1 September 2025, coopted 4 December 2024) FGP, SRC, E&O, ESG, GRemCo, Awards, ISC
## **Elected Trustees:**
Nick Addyman BA (elected 4 December 2024, resigned 17 April 2025), S&R
John Cain FCA (co-opted 1 September 2023 to fill a casual vacancy), FGP, SRC, E&O, ISC
Frances Graham BSc PGCE MCIPD (OR) (retired 21 February 2024)
Sophie Hammond BA PGCE (OR) (elected 4 December 2024), ESG, M&D
Claire Jenkins M (Theol) (OR) (resigned 2 February 2024)
Victoria Jenkins MA PGCE (Oxon) MEd (OR) (re-elected 29 March 2023)
Catherine Kirchmann B.Com, LLB (co-opted 9 September 2025 to fill a casual vacancy), GRemCo
Samantha Louis BA MBA APR FCMA CGMA (SAOR) (retired 4 December 2024), FGP, SRC, GRemCo
Anthony Millard BSc (Econ) PGCE (Oxon) (co-opted 20 March 2023 to fill a casual vacancy), FGP, SRC, ESG, GRemCo, M&D, E&O
Karoline Molberg BA (Hons) (OR) (re-elected 21 February 2024), FGP, SRC, E&O, M&D, ISC
Teresa Outhwaite BA PGDip (OR) (re-elected 7 October 2021) E&O, M&D
Camilla Macpherson (Oxon) FCIArb (OR) (elected 21 February 2024, resigned 1 April 2025), GRemCo
Natalie O’Connell BSc (Hons) PGDip (elected 21 February 2024), SRC, E&O
Althea Wolfe BA (Hons) (elected 21 February 2024), ESG, M&D
## **Nominated Trustees:**
Gaelle Sullivan PGCE, PGDip (SEND) MEd (1 September 2023), SRC, ESG, Awards
## **Co-opted Trustees:**
Franciska Bayliss BEd Froebel FRSA (12 March 2024), ESG
Cornelius Medvei (1 September 2023, resigned 11 January 2024), SRC, FGP, E&O
Trevor Rowell, BA BPhil MA (Oxon) PGCE FIOD (10 December 2024, resigned 31 July 2025) S&R
Vivien Smiley BA MA DipIPR (OR) (21 February 2024) SRC, GRemCo
## **KEY**
Following a review of committee names in June 2024, new committees and their membership is as follows:
ESG: Education & Safeguarding Committee. This Committee advises on and monitors safeguarding and educational matters and oversees readiness for inspections.
FGP: Finance and General Purposes Committee, which deals with all financial and investment matters.
Awards: Awards Subcommitee, which advises on the allocation of bursaries and awards, and now reports into Education and Safeguarding with Finance.
E&O: Estates and Operations Committee, which advises on maintenance and buildings provision.
M&D: Marketing & Development Committee. This Committee advises on and monitors marketing of, and fundraising for, the School, and considers the strategy for alumnae relations.
SRC: Strategy and Risk Committee. This Committee monitors and advises on strategic development and monitors key risks for the School.
GRemCo: Governance & Remuneration Committee, which reviews those proposed for membership of Council, looks at Committee membership and provides an overview of governance matters.
ISC: Investment Subcommittee, which manages and implements the School’s investment policies
(OR) Old Roedeanian (SAOR) South African Old Roedeanian
31
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **Chair of Council**
Anthony Millard joined the Council in March 2023 and was appointed as Chair of Council in January 2024. Anthony is a former headmaster with lengthy experience of education both in the UK and internationally. After his time in schools, he was Managing Director of the school’s division of a leading educational business, before setting up his own educational consultancy. He is an experienced governor, including ten years as Chair of a prominent international school, and now as Chair of Council at Roedean. Mr Millard was educated at Solihull School, The London School of Economics, and Balliol College Oxford, and spends much of his time volunteering as a Samaritan. Mr Millard brings significant experience to the role and emphasises his aim to bring unity of purpose to the affairs of Roedean, and consensus on the values of the School and the strategy moving forward. Anthony stepped down as Chair of Council on 31 August 2025.
## **Insurance**
Indemnity insurance up to the value of £5 million is provided for the Trustees and RSEL Directors. The premiums are paid centrally for the whole group by Roedean School, and the total indemnity insurance paid by Roedean School in relation to the Trustees and RSEL Directors was £480 for the year (2023: £480).
## **2024 Annual General Meeting**
The Annual Report and Financial Statements for the year ended 31 August 2023 were considered at the AGM on 4 December 2024. Other business included the re-appointment of HaysMac LLP, Roedean’s auditors, for a further 12 months, and the election of Trustees namely, Sophie Hammond (OR) and Nick Addyman.
## **Councillor Induction and Training**
For Elected Councillors, the two longest serving must retire each year and special provisions deal with the situation of multiple Councillors having equal lengths of service. The two retiring Councillors can put themselves forward for re-election. Nominated and Co-opted Councillors hold office for five years, but can continue for further periods of up to five years if they are re-nominated or co-opted.
The induction and onboarding processes for Trustees are being constantly reviewed to ensure that Trustees fully understand their responsibilities and role. New Trustees undergo an induction process with a number of elements, and this pays particular attention to their role in safeguarding. Annual training is provided for all Trustees, as well as many in-year opportunities.
32
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Management Structure
The day-to-day management of Roedean School is conducted by the School’s Executive under authority delegated to it by the Council.
**Niamh Green BA MA PGCE MBA**
Head
**Richard Poffley BA FCCA** Director of Finance & Administration
## Administrative Information
## **Auditors**
## **Bankers**
**HaysMac LLP** Chartered Accountants and Registered Auditors 10 Queen Street Place LONDON EC4R 1AG
**National Westminster Bank plc** 153 Preston Road BRIGHTON East Sussex BN1 6BE
## **Insurance Brokers**
**Marsh Limited Howden Insurance Education Practice Brokers Limited** Station Road Quadrangle DORKING Imperial Square Surrey RH4 1EB CHELTENHAM GL50 1PZ
## **Solicitors**
**Veale Wasbrough Vizards DAC Beachcroft LLP LLP** 25 Walbrook Narrow Quay House LONDON EC4N 8AF Narrow Quay BRISTOL BS1 4QA
## **Investment Support and Advisers**
**Rathbones Investment Management** 30 Gresham Street LONDON EC2V 7QN
## **Health and Safety**
**Assurity Consulting Limited**
26 Redkiln Way HORSHAM West Sussex RH13 6HR
33
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Financial Review And Results For The Year
The consolidated statement of financial activities for the year is set out on pages 40 to 41 and records the activities of Roedean School (the Charity), Roedean School Enterprises Limited (‘RSEL’), and Roedean St Mary’s Hall Trust. A summary is set out below.
The Charity together with its subsidiaries returned a surplus for the academic year 2023-24 of £1.6m, before gains on investments of £1.4m. Within the period, capital expenditure including improving the fabric of listed buildings and the grounds amounted to £4.3m, mainly comprising structural works, the Library, the Chapel, limewashing, Chandler Building, cricket boundary fencing and swimming pool windows, access control, IT resources, and continued classroom upgrades.
The consolidated cash position as at 31 August 2024 was £16.3m, being an improvement of £1.1m on £15.2m in the previous year, which reflected the funds generated by operational activities. This cash position provides the necessary liquidity for the School. The review noted on page 12 demonstrated that strategic and structural changes will be necessary to ensure the School’s long-term future.
The Council considers that the pre-investment surplus of £1.6m and post-investment surplus of £3.0m for the year for the Group was an acceptable result, especially given the very challenging market conditions, including the continuing uncertainty as a result of changes in legislation on independent schools.
The improved financials for the year were reflected in the investment and operating surplus ratios. Roedean School has an investment surplus of 14.9% (2023: 13.9%), and 14.9% (2023: 13.9%) when removing the cost of bursaries funded by the endowment. The operating surplus, after removing bursaries funded by the endowment is 12.2% (2023: 14.8%). Investment Surplus is defined as “Net income before investment gains and losses, and excluding depreciation, as a percentage of Net Fee income”. Operating Surplus is defined as “Net income (excluding bursaries) as a percentage of Net Fee Income before bursaries”.
## Investment Powers, Policy and Performance
Roedean School, including RSEL, achieved total income of £23.8m (2023: £22.0m) and made a surplus of £3.0m after investment gains of £1.4m (2023: surplus of £1.5m). The School’s results were achieved against the background of the impact of the cost-of-living crisis and the continuing influence of the Russian invasion of Ukraine crisis.
The trading company, Roedean School Enterprises Limited, achieved a turnover of £0.6m compared with £0.6m in 2023, but no donation (2023: £0k) was made to the School by way of gift aid. The trading of the company was assisted by the summer residential lettings with Alpadia Language School making use of the facilities during the summer holidays.
The School has extended the level of support available to the trading company (RSEL) through an inter-company loan, but there is no further requirement for the School to provide financial support to enable the company to trade and to discharge its debts and liabilities because RSEL can now meet its liabilities as they fall due. ’Normal’ trading patterns continued in 2024, including the summer school which generates the highest net revenue of any activity within the company, with Alpadia Language School. The Alpadia Language School contract continues through to 2028.
For a number of years, the Council’s policy has been to invest surplus cash from both restricted and unrestricted funds, whenever possible, on short-term deposit. Bank interest income and interest from investments in 2024 was £0.4m compared to £0.3m in 2023.
Based on independent advice received, the undertaking of a due diligence process and after the consideration of the Council, the assets of Roedean St Mary’s Hall Trust (‘Fund’ as well as ‘Trust’), representing its permanent endowment, were invested at the end of the financial year ended 31 August 2011 in managed funds split between equities and bonds. The objective of Roedean Council (acting as the Trustee of Roedean (St Mary’s Hall) Trust) is to preserve and grow the capital base of the permanent endowment fund that comprises the Trust’s assets, ensuring that the real value is maintained in the long term, taking on a relatively high-risk tolerance, and aims to generate an annual return over the long term of two times Consumer Price Index (2*CPI), with a minimum of 3% per annum. The funds generated are used solely to fund bursaries. The Fund’s performance was kept under review during the year via the Finance & General Purposes Committee and Rathbones Investment Management, the School’s independent financial advisers.
34
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
Rathbones Investment Management was appointed as new financial advisers for the School and Roedean St Mary’s Hall Trust in September 2023, and they actively manage the funds and target a return over the long term of the Consumer Price Index (‘CPI’) plus 4%.
The decision was taken by the Council in 2015-16, brought about by the change in regulations, and acting in its role of sole Trustee of Roedean St Mary’s Hall Trust and in line with the best interests of the Trust, to have the funds managed on a total return basis. In line with this approach, the Trustees of the Fund invested permanent endowment funds to maximise the overall return without regard to a distinction between capital and income.
The total return can then be allocated in a way that best furthers the objects of the Trust. This total return approach was effective from 1 September 2015.
As part of the process, suitable financial advice was received in relation to the valuation of the Fund and the unapplied total return, investment advice in relation to the total return approach and legal advice was also received.
It is the policy of the Trust to maintain a positive unapplied total return, and in applying the Unapplied Total Return Policy, the Trustees will always balance the needs of the current and future beneficiaries.
This policy sets the target level of free reserves as £1.0m – £3.5m, due to significant investment required in the fixed assets, and the Finance & General Purpose Committee monitors the level of free reserves on a regular basis to ensure this is in line with the financial strategy.
The School has been through a significant period of capital investment over the past 10 years to improve facilities for the pupils; this is an ongoing programme to ensure Roedean remains competitive in the current educational environment. The improvements have focused on boarding accommodation, teaching facilities, the all-weather pitch, Sixth Form Centre, the Theatre, and the Library. The level of free reserves as at 31 August 2024 is at a positive level; many independent schools hold negative free reserves. Given the future investments required in fixed assets to keep the School competitive and maintain a sound infrastructure, and the continued pressures on pupil numbers, the level of free reserves will be monitored closely and target figures may need to be revised.
Council has reviewed the trading position for the next 18 months from the date of approval of the accounts, which confirm the Group’s ability to meet its liabilities as they fall due, and the financial statements have, therefore, been prepared on a going concern basis.
## Reserves policy
At the Balance Sheet date the Group held ‘Unrestricted funds – other charitable funds’ totaling £25.5m compared to £23.8m in 2023. The Group continues to maintain positive free reserves, defined as unrestricted funds less tangible fixed assets, totaling £1.7m (2023: £2.7m). At the Balance Sheet date, the School held ‘Unrestricted funds – other charitable funds’ totaling £25.5m compared to £23.9m in 2023. The School holds free reserves, defined as unrestricted funds less tangible fixed assets, totalling £1.8m, compared to £2.8m in 2023.
The Council regularly reviews the level and nature of the reserve funds of the School in order to ensure there is appropriate financial security if there is a downturn in trading. This is controlled and managed by means of a rolling forecast process, incorporating scenarios and sensitivity analyses.
35
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Statement Of Trustees’ Responsibilities
The Trustees are responsible for preparing the Report of the Council and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and the Group and of the incoming resources and application of resources of the Group for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records which are sufficient to show and explain the Charity’s transactions, disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Charity’s constitution. They are also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
So far as each of the Trustees is aware:
- there is no relevant information of which the charity’s auditor is unaware
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Approved by the Council on 3 November 2025 and signed on their behalf by:
**Delva Patman** Interim Chair of Council
36
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Independent Auditor’s Report
## **Opinion**
We have audited the financial statements of Roedean School for the year ended 31 August 2024, which comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 31 August 2024 and of the group’s net movement in funds for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
individually or collectively, may cast significant doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the Message from the Interim Chair of Council and the Report from the Council. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charity; or
- sufficient accounting records have not been kept; or
- the parent charity financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that,
37
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **Responsibilities of Trustees for the financial statements**
As explained more fully in the Trustees’ responsibilities statement set out on page 36, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charity, or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
of the financial statements such as the Charities Act 2011 and consider other factors such as payroll tax.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the improper recognition of revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:
- Inspecting correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
- Challenging assumptions and judgements made by management in their accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Education (Independent School Standards) Regulations 2014, safeguarding regulations, health and safety requirements, GDPR, employment law and charity law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation
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ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **Use of our report**
This report is made solely to the charity’s members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s members as a body for our audit work, for this report, or for the opinions we have formed.
## **HaysMac LLP**
Statutory Auditors 10 Queen Street Place London EC4R 1AG
> Date: 6 November 2025
HaysMac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
39
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
|**Income from:**
**Charitable Activities**
School fees
Other educational income
Other activities
**Other trading activities**
Non-ancillary trading income
**Investments**
Investment income
Donations and legacies
**Total**
**Expenditure on:**
**Raising funds**
Non-ancillary trading
Financing costs
Investment management
**Total**
**Charitable Activities**
School and grant making
**Total**
**Net income/(expenditure) before**
**transfers and investment gains**
Gain on investments
Transfers between funds
**NET MOVEMENT IN FUNDS**
Fund balances
1 September 2023
**Fund balances**
**31 August 2024**||||||
|---|---|---|---|---|---|
||Notes|Unrestricted
funds
£’000|Restricted
funds
£’000|Endowment
funds
£’000|**2024**
**£’000**|
||4
5
6
7
8
9
9
9
9
12|21,355
1,031
26
553
490
-|-
-
-
-
27
61|-
-
-
-
288
-|**21,355**
**1,031**
**26**
**553**
**805**
**61**|
|||23,455|88|288|**23,831**|
|||486
10
12|-
-
-|-
-
77|**486**
**10**
**89**|
|||508
21,485|-
164|77
-|**585**
**21,649**|
|||21,993|164|77|**22,234**|
|||1,462|(76)|211|**1,597**|
|||194
9|-
(9)|1,250
-|**1,444**
**-**|
|||1,665|(85)|1,461|**3,041**|
|||23,800|1,103|12,894|**37,797**|
|||25,465|1,018|14,355|**40,838**|
|||||||
The notes on pages 45 to 65 form part of these financial statements.
40
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
|**Income from:**
**Charitable Activities**
School fees
Other educational income
Other activities
**Other trading activities**
Non-ancillary trading income
**Investments**
Investment income
Donations and legacies
**Total**
**Expenditure on:**
**Raising funds**
Non-ancillary trading
Financing costs
Investment management
**Total**
**Charitable Activities**
School and grant making
**Total**
**Net (expenditure)/income before**
**transfers and investment gains**
Loss on investments
Transfers between funds
**NET MOVEMENT IN FUNDS**
Fund balances
1 September 2022
**Fund balances**
**31 August 2023**||||||
|---|---|---|---|---|---|
||Notes|Unrestricted
funds
£’000|Restricted
funds
£’000|Endowment
funds
£’000|**2023**
**£’000**|
||4
5
6
7
8
9
9
9
9
12|20,148
613
20
631
285
-|-
-
-
-
-
95|-
-
-
-
243
-|**20,148**
**613**
**20**
**631**
**528**
**95**|
|||21,697|95|243|**22,035**|
|||491
13
10|-
-
-|-
-
68|**491**
**13**
**78**|
|||514
19,590|-
252|68
-|**582**
**19,842**|
|||20,104|252|68|**20,424**|
|||1,593|(157)|175|**1,611**|
|||(15)
(126)|-
126|(103)
-|**(118)**
**-**|
|||1,452|(31)|72|**1,493**|
|||22,348|1,134|12,822|**36,304**|
|||23,800|1,103|12,894|**37,797**|
|||||||
41
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## CONSOLIDATED AND CHARITY BALANCE SHEETS FOR THE YEAR ENDED 31 AUGUST 2024
|||Group|Group||Charity|Charity||
|---|---|---|---|---|---|---|---|
|||**2024**||2023|**2024**||2023|
||Notes|**£’000**||£’000|**£’000**||£’000|
|**FIXED ASSETS**||||||||
|Tangible fixed assets|11|**23,778**||21,128|**23,776**||21,122|
|Investments|12|**16,267**||14,608|**16,267**||14,608|
|||**40,045**||35,736|**40,043**||35,730|
|**CURRENT ASSETS**||||||||
|Stocks||**14**||17|**10**||8|
|Debtors|14|**838**||569|**1,037**||1,212|
|Cash at bank and in hand||**16,346**||15,187|**16,166**||14,614|
|||**17,198**||15,773|**17,213**||15,834|
|**CURRENT LIABILITIES**||||||||
|Creditors payable within one year|15|**(10,287)**||(8,583)|**(10,237)**||(8,531)|
|**NET CURRENT ASSETS**||**6,911**||7,190|**6,976**||7,303|
|**TOTAL ASSETS LESS CURRENT**||||||||
|**LIABILITIES**||**46,956**||42,926|**47,019**||43,033|
|**LONG TERM LIABILITIES**||||||||
|Creditors payable after one year|16|**(6,038)**||(4,849)|**(6,038)**||(4,849)|
|Provisions for liabilities and charges|18|**(80)**||(280)|**(80)**||(280)|
|**NET ASSETS**|19|**40,838**||37,797|**40,901**||37,904|
|REPRESENTED BY:||||||||
|**RESTRICTED FUNDS**|20|**1,018**||1,103|**1,018**||1,103|
|**ENDOWED FUNDS**|20|**14,355**||12,894|**14,355**||12,894|
|**UNRESTRICTED FUNDS**|20|**25,465**||23,800|**25,528**||23,907|
|||**40,838**||37,797|**40,901**||37,904|
The financial statements were approved and authorised for issue by the Council on 3 November 2025.
**Delva Patman** Interim Chair of Council
The notes on pages 45 to 65 form part of these financial statements.
42
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
|Note
**Net cash infow from operations**
Net cash provided/(used) by operating activities
i)
**Net Cash fows from investing activities**
Payments for tangible fxed assets
Additions to investment portfolio
Withdrawals from investment portfolio
Bank interest and investment income received
Net cash (used by) investing activities
**Cash fows from fnancing activities**
Fees in advance scheme receipts
Fees in advance scheme payments
Net cash provided/(used) by fnancing activities
**Increase in Cash**
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of reporting period
ii)|Group|Group|
|---|---|---|
||**2024**
**£’000**|2023
£’000|
||**1,470**
**(4,286)**
**(17,949)**
**17,733**
**804**|3,400
(1,803)
(6,267)
6,068
528|
||**(3,698)**|(1,474)|
||**3,627**
**(240)**|103
(282)|
||**3,387**|(179)|
||**1,159**
**15,187**|1,747
13,440|
||**16,346**|15,187|
||||
43
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
## **(i) Reconciliation of net cash flow from operating activities**
|**(i) Reconciliation of net cash fow from operating activities**
**Net income**
Elimination of non-operating cash fows
Investment income
Fee Composition discounts
Depreciation charges
Decrease in stocks
Increase in debtors
Decrease in creditors
Decrease in provisions
**NET CASH INFLOW FROM OPERATING ACTIVITIES**
**ii) Analysis of cash and cash equivalents**
Cash at bank and in hand|Group
**2024**
**£’000**
2023
£’000|
|---|---|
||**1,598**
1,611
**(804)**
(528)
**10**
13
**1,636**
1,328
**3**
(2)
**(269)**
43
**(504)**
935
**(200)**
-|
||**1,470**
3,400
Group
**2024**
2023|
||**£’000**
£’000
**16,346**
15,187|
||**16,346**
15,187|
iii) The group has no loans as at 31 August 2024 or 31 August 2023, therefore no analysis of changes in net debt has been included.
The notes on pages 45 to 65 form part of these financial statements
44
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
## **1. CHARITY INFORMATION**
The School is a Public Benefit Entity registered as a charity in England and Wales and a company incorporated by Royal Charter (RC000434). It was incorporated in 1938 and registered as a charity in 1996 (charity number: 987654) and its registered office is Roedean School, Roedean Way, Brighton, East Sussex, BN2 5RQ.
## **2. ACCOUNTING POLICIES**
## 2.1 Financial Statements and Consolidation
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – effective 1 January 2019.
The functional currency of the School is considered to be GBP because that is the currency of the primary economic environment in which the School operates.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2016 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Charity has taken advantage of the exemption available to a qualifying entity in FRS 102 from the requirement to present a charity only Cash Flow Statement with the consolidated financial statements.
## 2.2 Going Concern
The Trustees have considered the financial requirements of Roedean School Enterprises Limited and the current financial position of the School. The Trustees believe the School’s financial resources are sufficient to ensure the School will continue as a going concern for a minimum period of 12 months from the date of signing of the financial statements which have, therefore, been prepared on a going concern basis.
## 2.3 Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the accounting policies, Trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects current and future periods.
In the view of the Trustees, no assumptions concerning the future estimation or uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the School’s financial statements.
## 2.4 Basis of Consolidation
The consolidated financial statements incorporate the financial statements of the Charity and its 100% owned subsidiary, Roedean School Enterprises Limited (company number 2921272). In accordance with a Charity Commission Scheme, the accounts of the Charity include the accounts of Roedean St Mary’s Hall Trust from its date of acquisition.
## 2.5 School fees and similar earned income
Fees receivable and charges for services and use of the premises, less any allowances, scholarships, bursaries granted by the School against those fees, but including contributions received from restricted funds, are accounted for in the period in which the services are provided.
Amounts received under the school’s Advance Fee Scheme contracts for education not yet utilised to settle school fees are recorded as deferred income and allocated as current liabilities where the education will be provided within 12 months from the reporting date and as long-term liabilities where the education will be provided in subsequent years.
As noted in the Message from the Interim Chair (page 4), the Trustees are in discussion with a UK charity merger party, with the intention of merging, subject to the approval of the Governors of the Corporation.
45
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## 2.6 Investments
Investments are valued at market value as at the balance sheet date. Realised and unrealised gains and losses arising on the disposal or revaluation of investments are credited or charged to the Statement of Financial Activities and are allocated to the fund holding the investments. Short-term holdings of cash within the investment funds at the balance sheet date are classified as non-current assets. Investments in subsidiaries are valued at cost less provision for impairment.
The School has adopted a ‘total return’ basis for the investment of its permanent endowment as permitted by the Trusts (Capital and Income) Act 2013. Under the Act, the School can invest its permanent endowments without regard to the capital/income distinctions of trust law and with discretion to apply any part of the accumulated total return on the investment as income for spending each year. Until this power is exercised, the total return is accumulated, as a capital supplement to the preserved (‘frozen’) value of the permanent endowment.
For the carrying value of the preserved (frozen) permanent capital, Council has taken its open market value as at 31 August 2012.
## 2.7 Donations, Legacies, Grants and Other Voluntary Income
Voluntary income is accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.
Voluntary income for the School’s general purposes is accounted for as unrestricted and is credited to the General Reserve. Where, through the terms of an appeal or from the donor, there is a trust law restriction on the use of any voluntary income, the income is credited to the relevant restricted funds or endowment.
## 2.8 Tangible Fixed Assets
All tangible assets over £5,000 are capitalised. Depending on asset class some other assets are capitalised over the value of £1,000.
Depreciation is calculated to write down the cost of fixed assets less residual value by equal annual instalments over their expected useful lives. The periods generally applicable are:
|Freehold buildings|25-50 years|
|---|---|
|Lawrence House refurbishment|15 years|
|Free-standing buildings and tennis|10 years|
|courts||
|Lime washing of building|6 years|
|Furniture, fttings and equipment|5 years|
|Computers|3-4 years|
|Motor vehicles|5 years or 25% reducing|
||balance basis|
A full year of depreciation is charged in the first year an asset is acquired.
## 2.9 Stocks
Stocks are valued at the lower of cost and net realisable value.
## 2.10 Value Added Tax
The School, as an educational body, is exempt from charging VAT on normal school income. Where appropriate, expenditure includes irrecoverable VAT paid.
## 2.11 Pension Contributions
The School contributes to the Teachers’ Pension Defined Benefits Scheme at rates set by the Scheme Actuary and advised to the School by the Scheme Administrator. The Scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the Scheme that are attributable to the School. In accordance with FRS 102 the Scheme is accounted for as a defined contribution scheme and contributions are accounted for when advised as due by the Scheme Administrator. Further detail is given in Note 28.
The School also contributes to personal pension schemes for non-teaching staff at 6% of annual basic pay, and these contributions are accrued accordingly.
46
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## 2.12 Expenditure and allocation of Costs
## **Cost of raising funds**
The cost of raising funds comprises costs associated with raising funds from all sources and includes trading costs and investment management fees.
## **Charitable expenditure**
- Teaching costs – includes all expenditure in connection with teaching work.
- Welfare costs – those costs supporting pupil welfare including medical support and school meals.
- Premises costs – relates to costs in connection with buildings maintenance, general maintenance and repairs, together with grounds and gardens.
- Support – expenditure incurred in providing administrative and financial services in support of the direct charitable expenditure above.
- Governance – comprises the costs of running the Charity, including strategic planning for its future development, external audit, and legal advice for the Trustees and all the costs of complying with constitutional and statutory requirements, such as the costs of Council and Committee meetings, and of preparing statutory accounts and satisfying public accountability.
Overheads are allocated to expense headings based on time spent by staff and space occupied.
Pension costs are charged to unrestricted funds and allocated between expense headings based on staff costs of employees within the scheme.
Expenditure is accounted for on an accruals’ basis.
Redundancy costs and termination payments are charged to the Statement of Financial Activities in the period in which the School becomes committed to incurring the costs.
## 2.14 Fund Accounting
Funds held by the Charity are:
- Unrestricted funds – these are funds which can be used in accordance with the School’s objects, at the discretion of the Council.
- Restricted funds – these are funds that can be used for particular restricted purposes, within the objects of the School. Restrictions arise when specified by the donor.
- Endowed funds – these are funds where there is no power to convert the capital into income and represent the surplus funds arising following the disposal of St Mary’s Hall premises. These will be used to support the School’s bursary offering. The Total Return Order stipulates that any investment returns will accrue to a capital supplement (the Unapplied Total Return) to the permanent endowment.
## 2.15 Financial Instruments
The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost, with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors, amounts owed by group undertakings and accrued income. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and deferred income. No discounting has been applied to these financial instruments on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate year end exchange rate.
## 2.13 Operating Leases
Operating leases and the payments made under them are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
47
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **3. CHARITIES STATEMENT OF FINANCIAL ACTIVITIES**
The School has taken the exemption from presenting its charity statement of financial activities under section 408 of the Companies Act 2006. The net movement in funds of the School in 2024 was surplus £2,997k (2023: surplus of £1,354k).
## **4. CHARITABLE ACTIVITIES – SCHOOL FEES**
The School fees income comprised:
|Gross fees
Less: Total bursaries, grants and allowances
Add: Bursaries funded by restricted funds|**2024**
**£’000**
2023
£’000
**24,440**
23,207
**(3,218)**
(3,311)
**21,222**
19,896
**133**
252
**21,355**
20,148|
|---|---|
## **5. CHARITABLE ACTIVITIES – OTHER EDUCATIONAL INCOME**
Other educational charitable activities comprised:
|School trips and disbursements
Deposits forfeited
Transport recharges
Registration fees
Insurance commission
Sundry other income
**6. OTHER CHARITABLE INCOME**
Other income|**2024**
**£’000**
2023
£’000|
|---|---|
||**(1)**
(4)
**463**
115
**465**
416
**80**
68
**2**
1
**22**
17|
||**1,031**
613|
||**2024**
**£’000**
2023
£’000|
||**26**
20|
||**26**
20|
48
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **7. CONTRIBUTION FROM SUBSIDIARIES ACTIVITIES**
|
**INCOME FROM:**
**Other trading activities**
Non-ancillary trading income
**Total income**
**EXPENDITURE ON:**
**Raising funds**
Non-ancillary trading
**Total resources expended**
**Net income/ (expenditure)**
**Retained net income/ expenditure**
Fund balances brought forward
**Fund balances carried forward**
Tangible fxed assets
Net Current (Liabilities)/ Assets
**NET (LIABILITIES)/ ASSETS**|
Roedean School Enterprises Ltd
Roedean School Enterprises Ltd
2024
£’000
2023
£’000
553
631
553
631
509
491
509
491
44
140
44
140
(107)
(246)
(63)
(106)
2
6
(65)
(112)
(63)
(106)|
|---|---|
## **8. INVESTMENT INCOME**
|Interest on listed investments
Bank interest
Bank interest on donations
Interest on loan to subsidiary|||
|---|---|---|
||**2024**
**£’000**|2023
£’000|
||**330**
**448**
**27**
**-**|278
163
-
87|
||**805**|528|
||||
49
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **9. ANALYSIS OF EXPENDITURE**
|**9.**
**ANALYSIS OF EXPENDITURE**|**TURE**||
|---|---|---|
|Note 10
Staff Costs
Other
Note 11
Depreciation
£’000
£’000
£’000
**Costs of raising funds**
Financing costs
-
10
-
Investment management
-
89
-
Trading costs of subsidiary
268
214
4
**Group’s costs of raising funds**
268
313
4
**Charitable activities**
Teaching
8,582
545
249
Welfare
2,327
1,407
279
Premises
1,706
2,213
1,104
Support costs of schooling
1,171
1,933
-
**Group’s operating costs**
13,786
6,098
1,632
Grants, awards and prizes
-
133
-
**Total**
13,786
6,231
1,632
**Group total expenditure**
14,054
6,544
1,636
Auditor’s remuneration for statutory audit
Fees paid to the auditor in respect of taxation advice
Legal Fees within Governance|Note 10
Staff Costs
Other
Note 11
Depreciation
£’000
£’000
£’000|**Total**
**2024**
Total
2023
**£’000**
£’000|
||-
10
-
-
89
-
268
214
4|**10**
13
**89**
78
**486**
491|
||268
313
4|**585**
582|
||8,582
545
249
2,327
1,407
279
1,706
2,213
1,104
1,171
1,933
-|**9,376**
8,934
**4,013**
3,562
**5,023**
4,141
**3,104**
2,953|
||13,786
6,098
1,632|**21,516**
19,590|
||-
133
-|**133**
252|
||13,786
6,231
1,632|**21,649**
19,842|
||14,054
6,544
1,636|**22,234**
20,424|
|||Group
**2024**
**£’000**
2023
£’000
**46**
41
**4**
17
**145**
173|
|Governance Costs included in supporting costs of Schooling:
•
Staff costs
•
Other costs
Total Governance Costs|Group
**2024**
**£’000**
2023
£’000
**27**
21
**192**
212
**219**
233|
|---|---|
50
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## COMPARATIVE ANALYSIS OF EXPENDITURE
|**Costs of raising funds**
Financing costs
Investment management
Trading costs of subsidiary
**Group’s costs of raising funds**
**Charitable activities**
Teaching
Welfare
Premises
Support costs of schooling
**Group’s operating costs**
Grants awards and prizes
**Total**
**Group total expenditure**|Group
Note 10
Staff Costs
Other
Note 11
Depreciation
Total
2023
£’000
£’000
£’000
£’000
-
13
-
13
-
78
-
78
56
431
4
491
56
522
4
582
8,232
542
160
8,934
1,985
1,303
274
3,562
1,437
1,814
890
4,141
1,144
1,809
-
2,953
12,798
5,468
1,324
19,590
-
252
-
252
12,798
5,720
1,324
19,842
12,854
6,242
1,328
20,424|
|---|---|
51
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **10. STAFF COSTS**
The total staff costs were as follows:
|Wages and salaries
Social security costs
Pension contributions
Contractors
Aggregate employee benefts of key management personnel|**Group**
**2024**
2023
**£’000**
£’000
**11,276**
10,444
**1,068**
985
**1,614**
1,371
**96**
54
**14,054**
12,854
**883**
1,095|
|---|---|
|Average number of employees in the year
Of which were teaching staff|**2024**
2023|
|---|---|
||**369**
358
**104**
104|
Neither members of the Council nor persons connected with them received any remuneration or other benefit other than reimbursement of expenses from the School. The total amount reimbursed for travel and subsistence to members of the Council during the year was £9k (2023: £3k) for 7 members (2023: 4 members).
|£60,000 to £70,000
£70,001 to £80,000
£80,001 to £90,000
£90,001 to £100,000
£130,001 to £140,000
£140,001 to £150,000
£150,001 to £160,000
£160,001 to £170,000
£410,001 to £420,000|**2024**
2023|
|---|---|
||**11**
4
**-**
2
**2**
1
**2**
1
**-**
1
**1**
-
**1**
-
**-**
1
**-**
1|
52
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
In addition to basic salary, the figures within the salary bands comprise bonuses, benefits in kind, termination payments and other taxable benefits.
Contributions were made to the Teachers’ Pension Defined Benefits Scheme for fourteen of the higher paid employees of £284,597 (2023: 9 employees – £213,672). Contributions were made to a Defined Contribution Scheme for three of the higher paid employees of £16,381 (2023: 2 employees – £9,279).
During the year there were redundancy or termination payments made which amounted to £16,020 (2023: £259,176).
Payments to certain key management personnel are reviewed annually by the Remuneration Committee, comprising Trustees, and individual rates of remuneration are awarded based on staff reviews as well as costs being benchmarked against the sector average.
Accommodation is provided to those members of staff for whom it is required given the nature of their role. The School also offers discounts to any members of staff who wish to send their children to the School, and the rate offered is competitive when compared to other schools within the sector.
53
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **11. TANGIBLE FIXED ASSETS**
|
Group
**Cost**
As at 1 September 2023
Additions
Disposals
**As at 31 August 2024**
**Accumulated depreciation**
As at 1 September 2023
Charge for the year
Disposals
**As at 31 August 2024**
**Net book amount at 31**
**August 2024**
Net book amount as at
31 August 2023
Charity
**Cost**
As at 1 September 2023
Additions
Disposals
**As at 31 August 2024**
**Accumulated depreciation**
As at 1 September 2023
Charge for the year
Disposals
**As at 31 August 2024**
**Net book amount at 31**
**August 2024**
Net book amount as at 31
August 2023|
Freehold land
and buildings
Furniture, fttings
and equipment
Computer
equipment
Motor Vehicle
Total
£’000
£’000
£’000
£’000
£’000
33,098
4,181
840
83
38,202
3,558
307
379
42
4,286
-
(330)
(165)
-
(495)
**36,656**
**4,158**
**1,054**
**125**
**41,993**
12,853
3,597
553
71
17,074
1,103
269
249
15
1,636
-
(330)
(165)
-
(495)
**13,956**
**3,536**
**637**
**86**
**18,215**
**22,700**
**622**
**417**
**39**
**23,778**
20,245
584
287
12
21,128
Freehold land
and buildings
Furniture, fttings
and equipment
Computer
equipment
Motor Vehicle
Total
£’000
£’000
£’000
£’000
£’000
33,098
4,138
840
83
38,159
3,558
307
379
42
4,286
-
(330)
(165)
-
(495)
**36,656**
**4,115**
**1,054**
**125**
**41,950**
12,853
3,560
553
71
17,037
1,103
265
249
15
1,632
-
(330)
(165)
-
(495)
**13,956**
**3,495**
**637**
**86**
**18,174**
**22,700**
**620**
**417**
**39**
**23,776**
20,245
578
287
12
21,122|
|---|---|
54
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **12. INVESTMENTS**
|**12. INVESTMENTS**|||||
|---|---|---|---|---|
|Valuation as at 1 September 2023
Additions at cost
Disposals proceeds
Gain/(loss) in investments
Cash
Valuation as at 31 August 2024
**Investments comprise:**
**Listed Investments**
Investments (Historical cost £9,617,104)
Cash
Investments in subsidiaries|
**2024**
**£’000**
**14,179**
**17,949**
**(17,406)**
**1,444**
**16,166**
**101**
**16,267**
**2024**
**£’000**|Group
2023
£’000|
**2024**
**£’000**|Charity
2023
£’000|
|||14,122
6,267
(6,092)
(118)
14,179
429
14,608
Group
2023
£’000|**14,179**
**17,949**
**(17,406)**
**1,444**
**16,166**
**101**
**16,267**
**2024**
**£’000**|14,122
6,267
(6,092)
(118)
14,179
429
14,608
Charity
2023
£’000|
||**16,166**
**101**|14,179
429|**16,166**
**101**|14,179
429|
||
**20243**
**£**|Group
2023
£|
**2024**
**£**|Charity
2023
£|
||**-**|-|**1**|1|
55
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **13. STATEMENT OF INVESTMENT TOTAL RETURNS**
Trustees have adopted a duly authorised policy of Total Return accounting for the School’s investment returns. The total investment return targeted for these funds is two times Consumer Price Index (2*CPI) or 3% per annum, whichever is the greater. On adopting the Total Return approach to the investment, the Council valued the underlying trust for the investment as at 31 August 2012 as described in Note 2.6.
An excess amount has been applied as capital to protect the value of the endowment in prior years, requiring an adjustment to the previously reported Unapplied Total Return and value of the endowment as at 31 August 2023 of £2.7m.
## **Permanent Endowment**
|**Investment total return**
Income distributions on securities
Capital gains on securities
Investment management costs
**Total return for the year**
Amount applied as income for spending
Amount applied as capital to protect value of endowment
Unapplied Total Return as at 1 September 2023
•
securities
•
uninvested cash
Preserved value of original permanent endowments
Amount applied as capital to protect value of endowment
Value of permanent endowments as at 31 August|**As reported**
**£’000**
**Adjustment**
**£’000**
(2,007)
2,673
158
-
(1,849)
2,673
**2023**
**As reported**
**£’000**
**Adjustment**
**£’000**
**Adjusted**
**£’000**
10,091
-
10,091
4,651
(2,671)
1,980
**14,742**
**(2,671)**
**12,071**|Group
**2024**
**£’000**
288
1,249
(77)
1,460
-
(426)
1,034
666
158
1,858
**2024**
**£’000**
10,091
2,405
**12,496**|
|---|---|---|
Note: Uninvested cash funds are shown as net current assets in Note 19.
56
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **14. DEBTORS**
|Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|Group
Charity
**2024**
2023
**2024**
2023
**£’000**
£’000
**£’000**
£’000
**372**
304
**306**
241
**-**
-
**266**
706
**2**
131
**2**
131
**464**
134
**463**
134
**838**
569
**1,037**
1,212|
|---|---|
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Deposits from parents
Amounts due to parents
Fees in advance of term
Fees in advance scheme|
Note
17|||||
|---|---|---|---|---|---|
|||Group
**2024**
2023
**£’000**
£’000||Charity
**2024**
2023
**£’000**
£’000||
|||**59**
**301**
**468**
**719**
**756**
**1,234**
**5,101**
**1,649**
**10,287**|71
284
322
911
782
507
5,452
254|**55**
**295**
**437**
**710**
**756**
**1,234**
**5,101**
**1,649**|54
275
310
898
782
506
5,452
254|
||||8,583|**10,237**|8,531|
|||||||
|||||||
## **16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|||||||
|---|---|---|---|---|---|
|Deposits from parents
Fees in advance scheme|Note|Group
**2024**
2023
**£’000**
£’000||Charity
**2024**
2023
**£’000**
£’000||
||17|**3,592**
**2,446**
**6,038**|4,406
443|**3,592**
**2,446**|4,406
443|
||||4,849|**6,038**|4,849|
|||||||
|||||||
57
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **17. DEFERRED INCOME – FEES IN ADVANCE SCHEME**
Parents may enter into a contract to pay the School up to the equivalent of seven years fees in advance. The money may be returned subject to specific conditions on the receipt of one term’s notice. This liability has been split as follows:
|- due in less than one year
- due 1 to 2 years
- due 2 to 3 years
- due 3 to 4 years
- due 4 to 5 years
- due after 5 years
As at 31 August 2024|Group
Charity
**2024**
2023
**2024**
2023
**£’000**
£’000
**£’000**
£’000
**1,649**
254
**1,649**
254
**1,111**
191
**1,111**
191
**511**
130
**511**
130
**382**
98
**382**
98
**181**
24
**181**
24
**261**
-
**261**
-
**4,095**
697
**4,095**
697|
|---|---|
Summary of movements in liability:
|Balance as at 1 September 2023
New contracts
Interest allowance
Amounts utilised in payment of fees
As at 31 August 2024|Group
Charity
**2024**
2023
**2024**
2023
**£’000**
£’000
**£’000**
£’000
**697**
861
**697**
861
**3,627**
105
**3,627**
105
**10**
13
**10**
13
**(239)**
(282)
**(239)**
(282)
**4,095**
697
**4,095**
697|
|---|---|
The total fees in advance scheme liability as at 31 August 2024, representing commitments to release amounts to the Statement of Financial Activities over the next five years is £4.2m (2023: £0.7m), inclusive of future interest allowances.
58
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **18. PROVISIONS FOR LIABILITIES AND CHARGES**
The provision of £200k related to providing for possible claims relating to the Harpur Trust v Brazel holiday pay court case and £80k for restoration of the Roedean School Moira House tennis courts.
|Harper Trust Provision
Moira House School Provision|Group
Charity
**2024**
2023
**2024**
2023
**£’000**
£’000
**£’000**
£’000
**-**
200
**-**
200
**80**
80
**80**
80
**80**
280
**80**
280|
|---|---|
The provision for the Moira House tennis courts will be utilised dependent on the outcome of finding a lessee for the courts.
Summary of movements in provisions:
|Balance as at 1 September 2023
Amount utilized in provision
Release of provisions
As at 31 August 2024|Group
Charity
**2024**
2023
**2024**
2023
**£’000**
£’000
**£’000**
£’000
**280**
280
**280**
280
**(76)**
-
**(76)**
-
**(124)**
-
**(124)**
-
**80**
280
**80**
280|
|---|---|
59
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **19. ALLOCATION OF NET ASSETS**
The Group net assets are held for the funds as at 31 August 2024 is as follows:
||Tangible||Net current|Long term||
|---|---|---|---|---|---|
|Group|fxed assets|Investments|assets|liabilities|**Net Assets**|
||£’000|£’000|£’000|£’000|**£’000**|
|Endowed funds|-|14,175|180|-|**14,355**|
|Restricted funds|-|-|1,018|-|**1,018**|
|Unrestricted funds|23,778|2,092|5,713|(6,118)|**25,465**|
||23,778|16,267|6,911|(6,118)|**40,838**|
|he Charity net assets are held for the funds as||at 31 August 2024 is as follows:||||
||Tangible||Net current|Long term||
|Charity|fxed assets|Investments|assets|liabilities|**Net Assets**|
||£’000|£’000|£’000|£’000|**£’000**|
|Endowed funds|-|14,175|180|-|**14,355**|
|Restricted funds|-|-|1,018|-|**1,018**|
|Unrestricted funds|23,776|2,092|5,778|(6,118)|**25,528**|
||23,776|16,267|6,976|(6,118)|**40,901**|
The Charity net assets are held for the funds as at 31 August 2024 is as follows:
60
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **20. FUNDS**
|**Group**
**Endowed Funds**
Roedean St Mary’s Hall
**Restricted Funds**
Art Prize
Donations from Parents
Bursary Fund
Development and Project Fund
Individual Bursary Fund-Trips
Community Fund
OR Heritage Projects
**Unrestricted funds**
General reserve
**Total Funds**
**Charity**
**Endowed Funds**
Roedean St Mary’s Hall
**Restricted Funds**
Art Prize
Donations from Parents
Bursary Fund
Development and Project Fund
Individual Bursary Fund-Trips
Community Fund
OR Heritage Projects
**Unrestricted funds**
General reserve
**Total Funds**|At 1 September
2023
Income
Expenditure
Transfers and
Gains/(Losses)
**At 31 August**
**2024**
£’000
£’000
£’000
£’000
**£’000**|
|---|---|
||12,894
288
(77)
1,250
**14,355**|
||1
-
-
-
**1**
1
-
-
-
**1**
719
36
(133)
**622**
346
-
(13)
(9)
**324**
9
24
(2)
-
**31**
6
16
-
-
**22**
21
12
(16)
-
**17**|
||1,103
88
(164)
(9)
**1,018**|
||23,800
23,479
(22,017)
203
**25,465**|
||37,797
23,855
(22,258)
1,444
**40,838**|
||At 1 September
2023
Income
Expenditure
Transfers and
Gains/(Losses)
**At 31 August**
**2024**
£’000
£’000
£’000
£’000
**£’000**|
||12,894
288
(77)
1,250
**14,355**|
||1
-
-
-
**1**
1
-
-
-
**1**
719
36
(133)
**622**
346
-
(13)
(9)
**324**
9
24
(2)
-
**31**
6
16
-
-
**22**
21
12
(16)
-
**17**|
||1,103
88
(164)
(9)
**1,018**|
||23,907
22,926
(21,508)
203
**25,528**|
||37,904
23,302
(21,749)
1,444
**40,901**|
61
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## Endowed Funds
The endowment fund was established on the sale of the Junior School premises at St Mary’s Hall and has been invested to produce both capital growth and income to enhance the School’s bursary offering. £nil (2023: £nil) has been transferred from endowed to unrestricted funds to fund bursaries (see Note 13).
## Restricted Funds
The Bicknell Art Prize was established for purposes of providing prizes to celebrate excellence in Art.
The Bursary Fund was established to support the education of girls who might not, without such support, be able to attend the School.
The Development and Project Fund was established by the School to provide scholarships, bursaries and undertake special projects to support the education of girls.
£133k (2023: £126k) has been transferred to restricted funds from unrestricted funds as funds have been spent on Ukrainian funding and bursaries.
## **21. COMPARATIVE ALLOCATION OF NET ASSETS**
The group net assets held for the funds as at 31 August 2023 is as follows:
|**Group**
Endowed funds
Restricted funds
Unrestricted funds
The Charity net assets
**Charity**
Endowed funds
Restricted funds
Unrestricted funds|Tangible fxed
assets
Investments
Net current
assets/(liabilities)
Long term
liabilities
**Net Assets**
£’000
£’000
£’000
£’000
**£’000**
-
12,737
157
-
**12,894**
-
-
1,103
-
**1,103**
21,128
1,871
5,930
(5,129)
**23,800**
21,128
14,608
7,190
(5,129)
**37,797**
held for the funds as at 31 August 2023 is as follows:
Tangible fxed
assets
Investments
Net current
assets/(liabilities)
Long term
liabilities
**Net Assets**
£’000
£’000
£’000
£’000
**£’000**
-
12,737
157
-
**12,894**
-
-
1,103
-
**1,103**
21,122
1,871
6,043
(5,129)
**23,907**
21,122
14,608
7,303
(5,129)
**37,904**|
|---|---|
62
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **22. COMPARATIVE MOVEMENTS OF FUNDS**
|
**Group**
**Endowed Funds**
Roedean St Mary’s Hall Trust
**Restricted Funds**
Art Prize
Donations from Parents
Bursary Fund
Development and Project Fund
Individual Bursary Fund-Trips
Community Fund
ORA Heritage Projects
**Restricted funds**
General reserve
**Total Funds**|
At 1 September
2022
Income
Expenditure
Transfers and
Gains/ (Losses)
At 31 August
2023
£’000
£’000
£’000
£’000
£’000
12,822
243
(68)
(103)
**12,894**
1
-
-
-
**1**
1
-
-
-
**1**
767
51
(252)
153
**719**
355
16
-
(25)
**346**
-
9
-
-
**9**
1
5
**6**
10
18
-
(7)
**21**
1,134
95
(252)
126
**1,103**
22,348
21,697
(20,104)
(141)
**23,800**
**36,304**
**22,035**
**(20,424)**
**(118)**
**37,797**|
|---|---|
|**Charity**
**Endowed Funds**
Roedean St Mary’s Hall Trust
**Restricted Funds**
Art Prize
Donations from parents
Bursary Fund
Development and Project Fund
Individual Bursary Fund-Trips
Community Fund
ORA Heritage Projects
**Restricted funds**
General reserve
**Total Funds**|At 1 September
2022
Income
Expenditure
Transfers and
Gains/ (Losses)
At 31 August
2023
£’000
£’000
£’000
£’000
£’000
12,822
243
(68)
(103)
**12,894**
1
-
-
-
**1**
1
-
-
-
**1**
767
51
(252)
153
**719**
355
16
-
(25)
**346**
-
9
-
-
**9**
1
5
**6**
10
18
-
(7)
**21**
1,134
95
(252)
126
**1,103**
22,594
21,065
(19,611)
(141)
**23,907**
**36,550**
**21,403**
**(19,931)**
**(118)**
**37,904**|
|---|---|
63
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **23. TAXATION**
Roedean School is a registered charity and under section 505 (1) of the Income and Corporation Taxes Act 1988 is exempt from taxation.
## **24. CAPITAL COMMITMENTS**
The Group and the Charity had capital commitments of £226k at 31 August 2024 (2023: £1,052k).
## **25. CONTINGENT LIABILITIES**
There were no contingent liabilities at 31 August 2023 or 31 August 2024
## **26. LEASING PAYMENTS AND COMMITMENTS**
The future minimum lease payments under non-cancellable operating leases in respect of motor vehicles and equipment at the end of the year were:
|0-1 Years
1-2 Years
2-5 Years|**2024**
2023
**£’000**
£’000|
|---|---|
||**112**
218
**86**
65
**255**
160|
||**453**
443|
Operating lease payments amounting to £253k (2023: £217k) were paid during the year.
## **27. TEACHERS’ PENSION DEFINED BENEFITS SCHEME**
The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1.9m (2023: £1.7m) and at the year-end £169k (2023: £148k) was accrued in respect of contributions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023.
Following the McCloud judgement, the remedy proposed was that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefit, and in preparing the 2020 valuation have valued the ‘greater value’ benefits for groups of relevant members.
The valuation confirmed that the employer contribution rate for the TPS would increase from 23.6% to 28.6% from 1 April 2024. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.
64
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
## **28. DEFINED CONTRIBUTION PENSION SCHEMES**
The School operates defined contribution pension schemes through Aegon, Aviva, Clerical Medical and Scottish Widows with contributions made by both the employer and employees at variable rates. The assets of the scheme are held separately from those of Roedean School. Pension costs charged represent contributions payable by Roedean School to Aegon, Aviva and Scottish Widows.
Total pension costs amounted to:
||||**2024**|**2024**|2023|
|---|---|---|---|---|---|
||||**£’000**||£’000|
|||||||
|Aegon|||**10**||7|
|Aviva|||**24**||23|
|Scottish Widows|Scottish Widows||**197**||111|
|||||||
||||**231**||141|
## **29. SUBSIDIARIES AND RELATED PARTY TRANSACTIONS**
## Roedean School Enterprises Ltd.
The Charity owns all of the issued share capital of Roedean School Enterprises Ltd (company number 2921272), a company incorporated in England. This company carries out trading activities on behalf of the School.
In the year ended 31 August 2024, the Charity charged £217k (2023: £171k) to RSEL for the provision of staff and the administrative services and RSEL gifted £nil (2023: £nil) to the Charity under the Gift Aid scheme. The balance owed by RSEL to the Charity at 31 August 2024 was £266k (2023: £706k). The Charity charged £24k for interest on the RSEL loan.
## Trustee Donations
In the year the Charity received donations totaling £231 from its Trustees (2023: £3k).
The amount due at year end were as follows:
||||**2024**|**2024**|2023|
|---|---|---|---|---|---|
||||**£’000**||£’000|
|||||||
|Aegon|||**5**||2|
|Aviva|||**4**||3|
|Scottish Widows|Scottish Widows||**36**||22|
|||||||
||||**45**||27|
65
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
66
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
67
ANNUAL REPORT & FINANCIAL STATEMENTS – YEAR ENDED 31 AUGUST 2024
Roedean School, Roedean Way, Brighton, East Sussex, BN2 5RQ +44(0)1273 667500 roedean.co.uk
Charity No.: 307063
68