St. Mary's School (Calne) (a company limited by guarantee) GOVERNORS, REPORT AND CONSOLIDATED ACCOUNTS for the year ended 31 August 2022 Re8iStered Ch•rityN Company R¢Eistrètion N￿Lber 57 St. Mary's School (Calne) (a company limited by guarantee) CONTENTS PAGE Govemors and Advisers Annual Keport of the Governors 2-15 Independent Auditor's report 16-19 Consolidated Ststrmettt of Financial Activities Lncluding Income and ExpETrditure Account 20 B￿all¢e She￿s 21 Consolidated Statement of Cash Flows 22 Notes to th¢ A¢eounts 2346 St. Mary's School (Calne) (a company limited by guarantee) GOVERNORS AND ADVISERS GOVERNORS AND CHARrrY TRusfEES The St Mary's School {Caln¢) Gov¢rnots are the alarity Trusiees of the Sehool. The followin8 Governors served ihroughout the y￿r ending 31 August 2022 and up to date of approval.. Mr Svanle Adde (Chairl Mrs Vicky Wi150n (Vice Chair) Dr Linda Ashton (rcsigtled 27 Novembcr 2021) Ms Catherithe Bell Mr Robert Cutler Mr5 Deborah Harris (Chairof the Education Cornmitt¢¢l Mr M8rtÉn HwTiS The Revd Canon Michael Johnson (appointed l January 2022> Mrs Pamela Morris-Syke5 (Chair of the Finance & G¢neral Purp05¢s Committee) Mrs Patri¢ia Pearce (Chair of the St Margaret's Committe¢) Dr Simon Turton (resigned 27 November 2021 Memberof the Finance and Gen¢ral Purposes cOn￿ltree Memberof the Edu¢atÈon Cotnmitte¢ Member of the St Margaret's Commtttee Govemorwith special r¢S￿nSibilIty for Safeguarding Th¢ (lovernors are ¢l¢cted by existing mernb¢rs and subje¢1 to r¢ryelection aft¢r four yeays. The following senior staff atteThd all meetings ofthe Governing Body and its Committees at)d are the key man88cment personnel of the charity: Head, St Mary's School Dr Felicia KiA( H￿mISter, St Mwgaret's Preparatory S¢hool Mr Luke Bromwi¢h Bursar. CleA( to the Governors and CompAny SeL¥eiary Mr Dani¢l Boswell Regislered Office: St Mary's School 63 Curzon St Calne Wiltshirt, SNI I ODF Website.. w sea ar ADVISERS: Banker5 HSBC Bank Pl¢ Chippenham Commercial Centr¢ 2 Market Place Chippenham Wiltshire SN15 3HE Solicitors Veal¢ W&8brough ViT4rds LLP Narrow Quay House N8nDw Quay Brisiol BSI 4QA Auditors RSM UK Audit LLP Davidson House Forbury Square Reading B¢rkshire RGI 3EU St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 The Govemors of St Mary's School (Calnel {ineorpora¢ing St Margaret's Pr¢p8fdtory School) present th¢ir AnTrual Report for the year ettded 31 August 2022, together with th¢ audited consolidated financial siaiements f￿ the year, in accordanee with the Companies A¢t 2006, the Charities Act 2011, the Accounting and ReportlTh8 by Charitics Stat¢ment of Recommended Practice {Charities SORP}, and the FinaTh¢ial Reporting Standard applicable in the UK and Republi of Ireland (FRS 102). REFERENCE AND ADMINISTRATIVE INFORMATION The S¢hool w&8 founded in 1873 and in¢orFx)rated as a Company Limited by Guardntee in 1928 (company number 00235572}. It is registered with the Charity Cotnmission {charity number 3094821. The Governor5. executive ofTi¢ers, r¢gistered otTice and professional advisers are shown on pa8e l. STRucfuRE, GOVERNANCE AND MAIYAGEMENr Governing Doeumenl The Charity is 8ov¢med by its Memorandum and Articl¢s of Association d2ting from 1928 and last amended in 2008. Governing Body There is one Governing Body for both Si Mary's School and Stmargaret's Preparatory School. Recrnilment Tmining ofGovernors Governors are el¢cted by the Gov¢ming Body on the basis of qualifications, experience and recommendat*)ns ftom within the school community. New Govemors are inducted the workin85 of the Charity at briefings conducted by the Heads. the Bursar and other senior Staff. Governors are a150 provided with opportunities to attend tratning programmes and conf¢r¢nces on goveTNrtce and educational issues, and are regularly updated on matters relatjDg to their legal and stahjtory obligations. Org4wlst)rtOFwIMithagement Th¢ Governing Body meets e8¢h km). es do the St M8rgaFet's and Finaltce & General Purposes IF&GP) Committees. The Education Committee meets in the Autumn Sprtn8 Terms only. Committee meeting5 are normally held i advance of the main Bo8rd meeting, so that relevant reports can be mad¢ and appropriate d￿1$10￿5 tsken. The oper2tiond mana8em¢nt of the ￿h0O[$ is delegated by Governors to the Head5, SUPPOrted by their resp¢¢liv¢ Sentor Leadership Teams (SLT). The Bursar and th¢ Director of External Relation5 are members of the SLT at ea¢h school. Th¢ Heads, Bursar and DirrtÈor of External Relations meet together regularly as th¢ Executive Leadership Team IELTX led by Dr Kirk, the St Mary'$ Head. Botlt Hcads att¢nd all meetings of the Goveming Body and the F&GP ComEnitte& The Head of St Mary's att¢nds meetirtgs of the Education CotTJmitte¢ and the Head of St Margaret'5 &ttend5 meetings of the St Mar8aret's Committee. As Clerk to the Governors, the Bursar att¢nds a]1 meetings of the Governing Body and tts committees (except the Education Committe< unles5 required). Grotsp &rnclurÉ andRel&ilf)#shlps The Charity has a wholly owlled non-charitable subsidiary, St Mary's Scljool (Calne) Service5 Limited, re8lStered company nutnber04111368, whose activities and trading resultsareshown in notes 3¢ and 10 to theFinancial Statement5. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au st 2022 On 27 April 2012, The Calne Foutldation Ttust (CFT) was incoT￿rated as 8 compaDy limited by guarantee land not having a share capitsl). r¢gistered cornpany number 08049046 and registered charity number 1147327. The wincip81 objects of the CFTare'io advance educalion by¢hewovigion olfvnding, ￿S[S1once andsuppori io &Mary s Colne a si Margarei s Preparatory &JJool, Calme, being ih8 COns1iiuent schools ofike School Chartty and by oiherofsociaied educalional ￿tivitIeS (in sofar as ihey shall be charilable) ond (SLnEfv purpomy ipicthnial oncilkny lo ihose bjecls), no otherpurposes. ' The financral statements for St Mary's School (Calne) Services Limited and the CFT for the Peri￿ ¢nded JI August 2022 hav¢ been consolidated within these group financi￿ statements. RiTk Management The Governots maintain oversight of the risks faeing the Charity &8 an educational tNSt &5 well as the 4chcol as an operatin8 entity. Major risks, including large s¢al¢ building projects alld debt management, are assessed and the systems and pro¢edur¢s designed to manag¢ those risks are Teviewed. Gov¢mor5 are satisfied that m&jor CUTrertt and fvtyjre risks have been identified, prioritised and appropriate mitigationlayoidanc¢ mwures put in pl&c4. Appropriate I￿￿urance v¢r, including Gov¢rnors' third-party indemnity insuran¢e. i5 in plaee. The k¢y internal controls to manage and mttigate risks an.. fomial m¢¢ting a8end2s and ￿ordS for all me¢tin85 of the Gov¢rnin8Body and its committees" • eommittee temis of referenee, regularly revÈewed and UFMiat¢d; ongoiThg revi¢w of 5trategi¢ and ftnancial plans. monthty financial mana8etnertt and key metrics r¢portin8' r¢gular reviews of key policies. clear authorisation and approvd levels of expendi￿1¢. regular appraisal of the Heads and Bursar. self-appraisal of the Govemin8 Body,. and • opportunities for Governo￿ and senior stsff to r￿e1Ve r¢gular updates on changes to legai ond orffttional fTam¢works. The princip81 risks ¢UTrently facing the School ar¢: the irnposition of VAT on s¢hool fees loss of charitable stsfy$ or the benefits &gsociat¢d with this a signifiuDt fall in pupil nutnbers du¢ to prolonged ¢conornic downturn 8 further increase ITL the l¢vel of employer contributions to the Tea¢h¢T5' Pension Scheme prolon8ed high inflation resulting in ittcreas¢d operating wsts the effects of ¢lim8te ehang¢ and the costs of tsking remedial action We are mitigating the risks mentioned abov¢ by continuin8 to examine and redu¢¢ wsis where appropriate in order to k¢¢p fre increases as low as Jxjssible witlK)ut Compromising the qua]ity of educ￿lon and pastoral ure offered. 0￿￿Crs, AIM& ORJKCTIVES AND A￿1vrrIEs Chqrilubie Objects Th¢ Charity's Objects, &3 expressed in the Memorandum of AssrKiati¢)n, are'locarry ondmain¢ain ihe Schoolfor ihe edueotion of&rls andyoung Childre￿ OY day5eholars anda$ boarders, or 4u day scholars only, In 47ccordaKewiih ihe principles of Church of England and io provide a souAd reli￿0￿ educalion for girls and young children,. Accordingly, the Charity must manage its finances, maintain its premises and fa¢ilitiesto an appropriate standwd.employ staff with suitabl¢ qualifications and experienc¢ and fulfil its obligation5 a5 both a charity and a r¢grstered busiDess. In accordance with its Obje¢ts, the Charity provides education at its Calne campus for boys 2nd girls aged 2-11 (St Margaret's Pr¢par*Ory School) and girls aged 11-18 {St Mary's School). Boarding facilities are provided atst sch￿1. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 Gov¢mors also seek to pmide public benefit through the s¢hoo]s' operations. as d¢tsiled ort page 5 and within the s¢hools' operational teports below. rotegl¢Aims & Objeelives St Mary's Calne and Si Margaret's Prep together represent a Christian Foundation that welcomes pupils and staff fr all faiths. St Mary's Strategic Aims are.. Ambition Deliver a lailor¢d and Sp￿181]sed cutrieulum to inspire a love of learniD8 atkd ertable our S￿dents to achieve top class academic results. Guide and support every student to challenge themselves aTLd reach their full potential. Prepare our students for higher education, careers, leadership, and th¢ challenge5 of a fa5t-changing global world. Opportunity D¢liv¢r a breadth of a¢ademic and c0-cu￿1tular oP￿rtunitIeS to meet each stydeDt'$ ability. needs and interests. Create opportunities for advenbjre, ¢xploratÈon and discovery for all m¢mkrs of our community. Provide opportunities for girls from diverse backgrounds who would ben¢fJt from a St Mary's Calne education. Community Be a vibranl wam, open and inclusive ¢a)mmunity, where boarders arwj day thdetits liv¢ with empathy and resp¢¢t. Encournge our students to become proa¢tiv< engaged citizens who make a r￿SItiVe difference to the world. Connect, ¢ollabDrat¢ ond ¢ommuni¢ate with our dynamic. supportive and ¢xteDsive alumnae network. Innovation Spearhead r¢sear¢h and prartice in adolescent development. Foster creativity in the arts and s¢iences. encouraging fre¢dom of thought 8nd s¢lf-expressio Embrace new developments in teehnology to prepare our $tudents for the fvture. St MargaTe¢'s overdrchitjg aim of 'lnspiring EX￿llence. seeks to ensure that each pupil &spir¢s to fulfil bis ot her potential. This is underpinned by four key pillaTS'. Ignitlng interests o W.B. Yeats wrote that ¢ducation is not the fillingof a pail, butthe lightingof a fjre. We wholtheart¢dly a8re¢ and as a resulttea¢hing throughout the Sci￿01 is tailored to irtSPiTe each Individual child, mcetihg his or her needs with both Class and specialist subject teaehers. supported by an extensive array of resources and technology. Children are ¢n¢ourageit to evaluate their own karning and, with suppor¢ identify thetr next step5. Nurturing indlvlduailty o Our family-focus¢d approach allows us to work with 'Parents as Partn¢rs' to tn]ly understand eath child 2nd to ensure they feel understood, valued and secure. This helps us to nuTtt]r¢ the2r iDdividualty by encourdging meaningful relationships omongst peers. teachers and the wider school ¢ommunity. Fostsrlng explorfrtio W¢ Provide a trusted environment that enables our children to ftel secur¢ and ultimately have the nfidence to take risks. By encouFaging positiv¢ relationships and time to r¢flrt we help them understand that making mistake5 15 partof It￿ning and developin8. St. Mary's School (Calne) (a company limited by guarantee) A￿NuAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 Re¥lising potenti81 o W¢ und¢rstsnd that cvery child is unique. We are committed to developing a cultureof learning wher¢ pupils seek to b¢ th¢ best that they can be. By woyksng together on an individual level. we inspire our pllpilsto make sure they reachtheir￿ll potentia]. OurehildreTh learn to understand that SUC¢¢55requires perseverance, courage and intcgrity. By establishing a gro￿ mindse( we can ensuT¢ continual Tmprovement end the highest Standards of expectations and athievement for all. Objedlvesfor the Ye4r St Mary'5 objectives ftir the year were to.. D¢velop the PSHFJRSE CUrriCLtlum in line with KCSIE stotutory guidance Respond to KCSIE through our int¢mal review. ensuing action plan and Thiewing online safrty Deiemiine whether the current PaTrnt.Portals, Firet]y and ISAMS, still meet all our requirements and analyse oiher produ¢ts to determine best provi510th Develop the pupil voice through S¢hool Parliament. RSHE and pupil leadership te#m. Develop an inclusive programme of a¢tlVLties and events to celebrat¢ the 150th Anniversary in 2Q23, which embraces ail con5tituetL¢ies and celebT8tes the people who have secur¢d the school's ptsGe at the forefront of gir15' education. St Margaret's Objectives forthe year were to.. Review and improv¢ marketing and admis5iOn$ Fimly embed our 2+ provision in the Bluebird Nursery Continue work on the whol¢ s¢hool curriculum reviewto fiuther enhance the provision in Prep withakey focus on English s¢hemes of work. R¢vi¢w the G+T (gifted and talent¢dl programm¢ within the %hool and Consider how this might ￿ greater links and etLri¢hment opportuniti¢s with St Matg$ Ensur¢ preparedness for ISI compliance inspection Pl¢7nsforÉhefMlure There are no plans to olier the Charity's Objects or the schools, strategic aims. Govemors ire keen to See pupil nUMb￿S at St MArgaret'5 return to over 200 artd good progress wa5 made durtThg the y¢ar in a¢hi¢vin8 this, with the numbers for acadetnic year 2021-22 higher than the previous yeor, ond projected numbers for 2022-23 higher still. During the year the sit¢ development plan, Shaping the Futu￿ was revLew¢d and updated to ettsure that il remained resJy)nsive to the needs of th¢ school. Principal aeiiviliu ofilié YÉar During theyear Stmary's aver￿ed 350 pupils (2020-21.. 357) ofwhom 275 were boarder5 (2021>21.. 2831. StMaT8aret' averaged 166 pupils (2020-21: 1651. Governors ar¢ ple&8ed That St Mary's ¢ontiThues to thrive in ¢hallengingttonomic tirnes and that St Margar¢t'5 15 beginning to revers¢ the reeetjt decline in pupil numbers. Public Beftéfit The Gov¢rnors atr ￿llY aware of the sthools. tharitable and public betkefit obligations, and confirm that they have complied with the duty in ￿CtiOn 17 of the Charities Act 2011 to have du¢ regard to public benefit guidallce published by the Charity Commission. and in particular to its supplementary guidartc¢ on advartcing education and on ft¢-ch8r8iTig both in the public benefit tequiremeni and in di%harging their responsibilities as truste¢s. Ag educational provid¢r5, the schoob acttvely SUp￿rt 8nd promote the attainment of thr highest standerd5 in the education sector, which inclLkde5 the ongoing development of currictslum. the development of highffluality teaching and residential f&ilities,' and networking and resoltrce sharing with other schools (in particular. Cherhill Prirn￿ School, Kingsbury Grecn Academy and Springflelds A￿deMY. all in Caln¢> as well as local 2nd professional organL5ations. Further detsils can be found in the ￿1￿01$, review of the year below. St. Mary's School (Calne) (a company lirnited by guarantee) AKNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 Both schools make Provision for children from families who would not otherwis¢ b¢ able to afford their ftes to benefit from the excellent education offered. During the year £1,180,301 (2020-21 £1,129,948) wss directed to schtsiarshi grants and bursaries from unrestricted fi￿ds. This amounts to 7.0% of gross fees. Stmary's offers scholarships and exhibitionstotalented gir15 at I1+, 13+ and forenty into the SixthFonn. A 5cholarstkiP award means that parents tnay apply for meatts-tested fee ￿St$tance of up to 100% of th¢ f¢¢s. Duririg th¢ year, 47 gir15 were in receipt of such bursaries including 5 at b¢tsv¢¢n 90 and 100%; and a further 6 at between 80 and 9￿. Th¢ I l+ Foundation Scholatship, an A¢ad¢mi¢ award for pupils comifig from a State Primary School, can offer up t¢) IOOYO f¢¢ remission. During th¢ year there were 9 Foundation SeholaT5 at the school, including girls on IOOV*, 950h and 900/0 fte remassion. In addition. there were 4 girls whoioined us through the SpringBoard programme, two of whom were fully funded by the sciwol. St Margaret's also offers me8ns-tested bursaries. Durin8 thc year 13 pupils were in ￿¢¢ipt of such awarth. six of which were at 70% or above. 18 pupi15 across LKSth ￿￿001$ were in ￿elpt of a military bursary. Si Mary's 15 also a partner with Radley Ctsllege and Downe House irl the Armed Forces Fund. which was set upto help educate th¢ childr¢n of service m¢n and women killed or wounded whi15t serving their county. The s¢h(K)Is also provide. where possible. hardship awards ftsr the familTe5 of existing pupi15 where a clmngt in financial ¢ircum5tances means they are no longer able io p&y full fees. Employee Involvemeni andEqual Opporlullili Both teaching and non4eachingstaff are provided with information on mattets ofconcern tothem. and of fa¢totsaffecttng the perfomiance of the schools, through regular meetrng5 and presentations. Employees are encouraged to rnise matters for discussion as appropriate and ar¢ consult￿, Usually tnfom)ally. ort maiters like]y to atrecttheir iThterests. Senior members of staff are regularly giv¢n the opporfunity to brief governors on matters of interest within their department, and governors are encouraged to engage with staff, ask and answerquestions whenever they vi5itthe school. The Governors are committed to ensuring equality ofopportunity in recruilmentand ¢mploymenL with all applicants and employees reeeivtng equal treatment regardless of gender, sexual orientation, tnaritsl status, race, colour, natÈonality. ethnic or national origtns, religiou$ belief, age or disability. We re¢ognise that disabled people may hav¢ sp¢cial requiretntnts and will make reasonabl¢ adjustments to interview procedures, work arrangements, premises.iob design and traÉnin8 where ne¢¢ssary. Vothnlee The Govemors giv¢ freely of their time and the schools are very grate￿[ to th¢m for doing so. In addition, St Mary's School benefits from th¢ support of the Calne Girls (￿umnatI Association ICGAI and the Parethts, Guild of St Mary, S¢hool IPGSMI, whilst St marga￿t'S Prep&ratory School enjoys the sup]x>rt of an active PaTent$' Association. All three organisations helped with fi]ndraising and cultura] adivities throughout the y¢ar, and Governors are thaDkfiLI for the contribution ttlese groups make ttTrwards the enhancement and progress of Lx)th schools. St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 STRATEGIC REPORT REVIEW OF THE YEAR STMAR Y'SSCHOOL Theyear Saw a grndual return to 'nornJatity' ￿ToSs ail a5peets of s¢lK)(Il life afterthe coronaviN$ pandemic, and by the start of Autllmn T¢rn12022 the extensive range of Whool activities were ba¢k in full force. In refl￿tIng on th¢ year, there is a tangible senseofjoy and delight in welcoming people back into sehool aThJon¢e again enjoying shar¢d events and activities. Acodemic Weare very proud of the 2022 A Level and GCSE studeDty who Experienced a knugh and unprncedented coupleof years. As the UVI leavers had been unable to sit GCSE exams due to Covid. th¢ir A Levels were the first eXt¢rn￿ 5eeondary school assessments they had taken, and their restlicnce and w¢ll-esrned ￿sUltS were impressive, with over a qulrtcr of all grades awarded b¢in8 A*5 and 68Q/• A* or A. This made St Mary'5 one of the top three schools in the South West according to the Sunday Time5 Parent Power suryey of A Level results. The Leavers will be heading off to a wide rartge of leading universities including Oxford, BirniinghaTn, Bristol. Cardiff, Courtauld Instilute of Ar¢ Durham, Edinbur8h. Exeter, ImperÉal College London, Loughborough, Newc￿tI< UCL and York tn addition, 5tudctts had off¢is for top internat#)nal universities in Australi￿ Canad4 Hong Kong, SpaiD and the USA. Th¢y will be studying o broad range of subjects including Architecture. Biology. Business and ManagemeDI, aassics, Computer Science, Engtneering with Architecthrdl Desiw English. Ftlm and Television Productio￿ Fine A¢ History of Art, Law. Mat¢rtais Science and Engineering, Modem I￿nguageS. Music, Philosophy and Theology. Psy¢hoiogy and Sport and Exercise S¢i¢nce. OY¢r half of the y¢8r group chose to ¢omplete an Extended Prnject Qualification (EPQ), with imp￿SsiVe Mlts: 53% were awarded A*s. The EPQ allows sttjdents to demonstrate their ability to pursue ind¢peDdent swdy and helps them 10 develop ¢ritical thi]thin& project manag¢m¢nt and reseaT¢h skills that prepare them wdl for the next $ts8e of their education. The GCSE cohort of girls also achteved a superb set of results, with 35% grnded 9. The gir15 all worked inwedibly Iwd and fiElly desetrye their excell¢nt results. ttl temis of 'value add,, some pupils achieved three grades higherthanwiected, which is testament to both the girls, and thcir t¢￿h¢r$. dili8enc¢ and hard work. S¢holarnhips and Exhibitions continue to be offtred to tslented girls lookitlg for entry at I1+, 13+ and the Sixth Fonn. Whi15tthese ore largely honorary awards, families whose daughterh&s been offered a ScholarshiporanExhibilion may apply for a meatLS-tested Bursary {see Public Benefit section above). rheArts As the year pro8rtss¢d. and Covid restrtctions began to be lifted. we a school were able to engage the students thlfy in the c0-cu￿1¢uIar activitie5 and events that had been put on hold for so long. The pmductionofBeUyBlue E)rs in October2021 a creditto all involved. &4 was the Opera Gala at the Sb¢ldonian. Oxford University and the London art exhibition, Presence ofAbs8nce at th¢ Mall Galleries in November 2021. Th¢se were followed by the UIV production of Sh&kespeare'sA Cornea￿oI￿rOrs. thewell.attend¢d Fourth Forni DADCC Sho and thc Junior Musical, Oliver! Sn Musi¢. a multitude of perfornance opportunities wer¢ offered. from the annual Ce¢ilia James Musi¢ Festival. filrn- musicthemed Autumn Concerl the GCSE and A L¢vel Recital Concert, SirBryn Terfel Song Prize Comp¢tilion,Fourth Forni Music Festival and an Ltplifting pn)gTamme of mu5ie at the Au¢urnn Con¢erL perfomied at the Wikthire Musi¢ Centre. At the Pzn8bourne PKano festival. all Stude[￿ perfoTmed brilliantly with two first piacings and three 24piacin8S. St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 Our int¢m81 CTOSS-currieular school competition, L1tsral￿y, a collaboration ￿[Os$ the English and Art Deportments. Saw mor¢ written entries than ever and a record number of art Submissions. Some of thos¢ pieces weTe also entered into the natiotlal YoungArts competition, with ihr¢e students a¢hi¢ving'highly ¢ommended' recognition. Thr¢¢ juniorartists also had Jrtwork selected for the national Art Byte5 digital exhibition. These, and other key pieces created during the year, now fonn part of the annual Founder5, Day Art Trail throughout the school. As a thl, we are emborking on the Artsmarkioumey and are set io fvrther develop our cultural offer for the sch(N)I and for our wider and ithternttional communities. Co-C&rricular During the year $I8nifi￿nt progre55 wa5 made in bringing more cohesion to our eo-currteular offering, with anumber of a¢tivities coming together under the Donaldson Award umbrella. This award is undertaken by all pupils so that by th¢ eTtd of their time at St Mary's they will have achieved a Bronzq Silver or Gold award. 22 LVI gir15 participated in the Young Enterprise Company Programme. They created Empower, a range of sustainable, fair trade coffee bags featuring gift cards Wlth inspirational quotes that promote female empowennenl. This initiative won them the Besi Compary in Wiltshire Category * th¢ County Final Awards and Be51 Presenlalion at the South West Regional Final. Th¢ new edAtion of the Lvl-led digital magazine, Kaleidoscope, was produced with the theme 'Unseen', which the stud¢nts felt was multL-dimensioTral and extremely topical with a wide scope for interpretation. The resulting magazine was a thought-provoking and inspiring read. tnJanuary, we held theannu&l InspiringFHtsres Coreersconference for LVI students feawringapanel ofguest speakers eovering police int¢lligenK joumalism, politics, creaiivity and entrepreneurism. This year's topic, The World of WorL opened dis¢us5ion$ about Structured vs tspportunisti¢ pathways into careers. challenges for women in the workplace and skill devtlopment. It culminated with networking 5e55jOThS Ln the 5ibrary and a $pttial lunth in Top Hall. The CGA alumnae talks programm¢ provided an opportunity for our alumnae to inspir¢ and advise current ond recent pupi]s. This yeortopics included law and mediation. journalism and library consultancy, and business innovl￿n. Sport Our stx)rts offering continues to develop acros5 every a8e group, with [￿Qm78nCe and participation growing and opw>rtuniti¢s for girl$ of all abilities to find a¢tiviti¢5 that th¢y ¢njoy and Can play comp¢titivety. This y¢ar we held a fijll season of fixtiires, wilh someyeargroups representing the sch(￿1 for the first time following the pandetnie. Laerosse, hockey and netball teams of all ages enjoyed some fant&stic r¢sults, although partieular mention should be gtven to the U16A hockey tcatn, who won our'Team of the Year, award for gett5ng through to the quarterfinals of the Tier2 England Ho¢k¢y National ToumamenL a first-tittte achievement fora St Mary's hockey team. In netball, 20 team5 were rtelded, with U14B, U14C and U12C WLnnLng au their fixtures. and more than half of the teams won or mor¢ of their fixbJr¢s. As tennis tuition had largely been able to continue safely during Covid. the TenThis Academy Continued to 80 from str¢ngth to str¢ngth. Pupil involvement during the year was higher than ever, with 208 pupils being taught by our profession￿ coaches and over 280 individual lesson$ each week. Swim squads gav¢ some impre59ive perfomiances. winning every event in their firsi competition as well as taking the troptly in the Dowtke House invitational. The new Aquathlon gave the opportunity for sbjdents to tske part in a multi event competitÉon and proved popular with both competitors and Spectators. As well as competitive sports fix￿re5. there have been new SW and aetivities irttroduced to the PE and games progrdmme including YO￿ kayakin& touch rugby, ￿tel danee anil the PADI diving course forthe Fitlh Fcm. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 July sawthe sch￿1,$ first international trip s]￿e Covid. Wlth agroup of 30 girls and three 5tsff travellin8 10 the USA for a lacrosse tour. The girls w¢reable to play games a8aiTr5t som¢ localteams and also io wa¢¢h live matche5 in (h¢Women's World Lacrosse Championships. Community s¢rvi¢e 15 t#ken Y￿y sertously at St Mary's. with all the students in Sixth Fom] giviTLg time. ID avariety of ways, each week. It enwuraging to see during th¢ year that links to the ¢ommunity and local ¢haritie5 w¢re re- establish￿ Jx)st-Covid. Charity everttsthat h&vetsken plac¢ thi3ye￿h&ye kncluded asponsored sl¢¢p.0utforDoo￿ay. a local charitysupporting the homeless. bcx)ks donations ￿ Bookf2Africa, a spoJ]sored walk for the Harbour Project and tree plantingby the UV with Avon needs Trees atthe local Hazeland site. tern15 of locgl outreach. British Sci¢nGe W¢ek returned and the school w&$ able to welcom¢ 180 students from local primary Schools and St Margar¢t's Prep to listen to a¢oustics expeT4 DrM8Tk Lewney, the'rock guitsr physi¢i$t' explain the s¢i¢nce of sound. A major success was the ￿cTo$s£ Festival, a new initiative Set up between the PE Depath¢nt and th¢ Olltrea¢h and Partnerships Manager, which saw over 100 Year S stud¢nts from local primary s¢hoo]s tak¢ part in an intrrduction to lacross¢ that finished with a mini-lacrosse tournament. It was also wonderful to see some of the sehool's well-establtshed commuttity activitie5 return. such &8 Fourth Fomi stud¢Dts singing Carols to the eld¢rfy in assisted livtTrg residences and LIV students partÈeipating the Calne 14 Bloom proj¢ct. Invesiiiienl To ¢ontinue providit)g a high-quality nurturing environmert( the Khool is ¢ommitted to tnvesting pNdendy in its futu and to providing pupils with a pleasaTh¢ stimulating and Safe environment in which to live, learn and cr*ffteLX withothers. Approximat¢ly 7.5°h of income is sp¢nt each year on maintaining and enhgnctng the school ¢stat¢. For the y¢ar in question projects included a compl¢t¢ replacement of the boiler plant in the main s¢hool buikjing, ph 2 of a proj¢ct to replace the single g18z¢d crittall windows in Plumer Wing with more thermally tffici¢nt doublc-glazed units. artd ¢onstru¢tion of anew oak pavilion in the Lime Kiln Gard¢n. The latter project wa5 kindly fijnded bya parental donation. STMARGAREfs PREP It was another su¢¢¢ssfvl year for St Margaret's in all areas of schty)I life, providing an outstanding academi¢ education with high quality pastt>rnl care and a breadth of extrd-cknrricular 2CliVitie5 to children with a diverse range of learning styles. tademte Year 6 pupils undertook their S¢nior Sdtool ¢ntraTrce examinations in the Spring term, obtaining som¢ excellent results. Leavers. Senior school destinations ineluded St Mary's Calne, Dauntsey's. King Edward's Bath, Stonar, Wamiinster. Wy¢ombe Abbey, Th¢ Royal High Sehool Bath and Prior Park College. We were particularly proud that ov¢rhaif of the ¢ohort were awarded s¢holaTships and ¢xhibitions re¢ognising their variou5 strengths across the ¢urriculwn. During the year we Implemented some ¢h8ng¢5 to the QU￿1cUluM across th¢ ￿h0O1, building on the work begwl rn the previous year in th¢ Pre-Prep Department. The main changes wcre as follows.. St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 English Previously, English planning felt fragmented in some areas of the school with a lack of flow and limited opporwni¢ies to study texts in depth. Blocked units of work are now taught with the aim either'to infoTm','to enlertain. or'to persuade. (or a cortlbination of these). To Provide mor¢ cohesioD and d¢pth, units ar¢ 2- 3 we¢ks lon8 and can be taught &5 text- based or genre-5pe¢ifL¢ units. The texts studied give the children real purpos¢ with their learnin8 and seamlessly embed 8ramtnar. word and 5¢nt¢nce WOTk. They prtsvide an excellent context for prn¢tising grammar and writing skills and, where apprnwiate, are able to link to topic units in the wider curriculum. Wider Thrrlculum Continuing from the wotk in the Pre-Prep DepartmenL a new approach ts) the delivery of the wider curriculum (History, Geogrdphy and Scieneel has be¢n adopted in the Prep Department. It is built on aknowledse-ba5ed approach and illfomed by developments in cognitive psyGhology and thwries of workillg meTThQry as guid¢s forcurriculum design and knowledge retention. Itgive5 children an in-depth under$tandirtg of topic areas delivered in bh)cked units. Feedback from staff has been positive with reports of the children becoming kmmerned in the subject area and being able to make Sinks in their learning alon8 with excellent knowledge retention. Asse58ment Internal 185essm¢nt proce￿e5 were also reviewed, and a new approach adopted. Alongside the startdardised testing that is carried out inthe Spring and Summerternis, a new'forniative. as5es5ment model was launched io provide stskeholders with a mor¢ holistic approach towards achild's achievement. Each term, individual childr¢n ar¢ ass¢5sed in their readin& writitlg and maths to Provide a judgementagainst age.relai¢d expectations. This allows parents and ieachers ttssee where their child sits in their eohort and allows iea¢hers to easily id¢ntify next-step ￿getS to ensure progress and achievement for all. Well-bein Since the Covid-19 pandemic greater emphosis has been placed in ￿h0O15 on the well-bein8 of Children and this i5 certainly a priority at St Margaret's, overseen by the newly-appoint¢d Head of Learning Enhancement and W¢ll-b¢in The year began with the introduction of EASY (Enjoyment At School - Yes!) ar￿ all children from YI to Y6 have a per50nalised EASY card to help them in communicating any w¢)rries and eoneern5. For our younger children in EYFS. ther¢ is a physirAI bear to provide similar supporL We have also completed PASS (Pupil Attitud¢s to Self and School) forchildTen in Y2 to Y6. This is asurvey that ¢Dab]e$ us to UDdeTStand children's mindset towards school. and if they are wnfident, ready and motivated to learn. Italso helps to identify barriers to learning in order to cnsure student wellbeing and positive outcotnes at a whole ￿h0O1. class. and individual level. It was pleasing to see that across the 5ehool children re￿rted a high S￿l$faCtIOn with their school ¢xperienc¢. Further analysis showed that areas for development should be focussed on girls in Year 2 and Year 6, who reported a moderdte satisfaction in specific at¢as, ¢.g.. leam¢r s¢lf-wonh, self-regard &5 a leaTh￿r aThd ¢onfidenc¢ irb learning. To address this PASS interventions will be d¢liv¢red via a ¢lass level appToa¢h. In addition. we currently hav¢ a tea¢hing assistant trdinin8 for the role of ELSA (Emotional Literw Support Assistant) and will soon be able to deliver emotional literacy 5e$5ions. &5 part of our well-being offer. The ELSA will work wkth children either individually or in small groups and deliver b¢spoke interventions tailored to th¢ pr¢5enting situation or need. Children will be identified, and fomlally reftrred by iheir class teacher. This year has also seen the d¢v¢lopm¢nt of the p&5toral team which include5 our DSL, Head of L¢aming Enhan¢¢ment artd Well-being, rnet)tal health first aider and ELSA. The aim of this team, by meeting regularly throughout the year, 15 to ensure that children needin8 welSbcing intervention are appropriatsly supported and i¢gularly monitored. St Margaret's continues to manage its comWitive reputation alortgside keepirtg all the childr¢n participating on a weekly basis. The year saw a wekom¢ retum io a fvll and comprehensive programme of sport and matches. io St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for th¢ ear ended 31 Au st 2022 We arc very lueky to have superb on-site faGilities. including a 25m indoor swimming pty)I, a multi-purposesports hall. full size all-weather astro Pitch and a ¢ompetitiOll grade climbing wall which includes varied thr¢e4limensional Climbin surfaces for all ages throughout the school. We also use the 94-a¢re ¢ommunity provisM)n at n¢grby Beversbmk and Spye Pèrk Cricket Club during the summer term. Climbing is embedded withitl our Physi¢al EthIc8tion Curriculum for all pupils in Reception and above. This has given children iticreased Confidence in other er¢as of ￿h0o1 life. Martial arts are pnving very popular with our pupils and continues to grow. The p¢)ol is a wonde￿1 facility whith accommodat¢s all pupils from Bluebird Nutsery tlwough to Yur 6 swtmming at least on¢e a week. Dwingthe Easter holiday we welcomed Bath Rugby who hosted aone41ay rllgby camp with45 children tskingpart fiDm age 5-1 l. The Summer Saw the introduction of two exciting sw)rts camp5. Firstly a 2-day tcTrnis camp for 15 pupils of St Margaret's followed by a 5-day Multi-sport Holiday Camp with 110 total attendances over th¢ week. Ther¢ were 37 different children attendin& wtth 18 being St Mar8arel'S pupils and 19 6om the wider community. A significant success in the Summer Tenn Saw our ix)ys and girls freestyle r¢lay teams winning silver at th¢ IAPS swimming finals held at the London Aquotic Centre. erfornin After a challenging first temi. which ne¢essitsted speGial arrangements for Harvest 8nd Christm&s s¢Ni¢¢5, our perfonning arts Ptovision re￿Med to full swing, and it was an exceptional year for ￿hleverneTrts in this area. In the Autumn term, a spike in the pandemic just before the Hatve5t celebration comp¢lled us lo condud the service outside. However. audience. staff and pupi15 all awd that it w&% a lovely atld memorable occasion. St Margarel's featured promhnently in the Devizes Eisteddfod in Novemb¢r, including th¢ Ch￿ber Choir beiEJg invited te p¢rforni at the Fesiival concerL and they were subsequently selected to be¢ome a parth¢r school of the Ei5t¢ddfod in re(￿lt10n of our strength in the p¢rfomiin8 arts. Unfortunately, fvrther restri¢tions were necessary by the titn¢ of the Catol servirx, but Upper and Lower Prep services wer¢ recorded in th¢ Chapel attd circulated to the school community. The EYFS and Pre•Prep Nativities were both well received by audiences alld the thildren ¢op¢d very we]1 with performirtg for a live audi¢nee. Year 3 and 4 were thfilled to be able to produce their customary Pantomime: Cinderella and Rockgrfella showcased some very tal¢nted performers. The Spring Concert featured some of our Drama and Musi¢ scholars, as w¢ll as choiN or¢he$traand the Rock School. a paGked hall gave the perfortneTS a very wann reception both nights. Having the beneflt of an accomplished Year 6 group, which included multiple Drama and Music scholars. we were able to select ML71EldaJunior &5 our Upp¢rPrep show. With the assistance of our new chor¢ographer, Mis5PollyaJm Tartner, the cast gave their audi¢n¢es an ex¢eptiottal evening's entertainment. Speech and Drama su¢cesse5 continu¢d in Teguiar online LAMDA examination $e5SiOtL& With a high numb¢r of Di5tÉnctions and Merits awarded throughout the Prep department and extendiTr8 to Grade 5 Acting. In Musie, ABRSM, Trinity and Ro¢k aT￿ Pop exams were tll sucrxssfully completed and hsgh m8rk5 were awarded, again all theway up to up to fjrade 5. Whi15t promoting live exams whercvcr possible. we acknowledge that film¢d perfomiance grndes are more suitable for some pupils and have contittued to offer them as an option. FINANCLAL REVIEW AND RESULTS FOR YEAR Th¢ Thartty adjieved a consolidated surplus beftJK invEstment Bains and fair VAlu¢ adjustments of £0.3m12020-21.. £0.5ml. a net SUTplus of 1.8% (2020.21.. 3%). The Trading Company madc a surplus of £6,707 (2020-21.. loss £68,454). The CFT achi¢ved investsn¢nt income of £15,326 (2020-21.. £14,472) total inv¢sthieM losses of £88?9912020-21.. gain of £125.491>. St. Mary, s School (Calne) (a company lirnited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 Fuhdrnising The Charity does not use extemal fvndraisers. Our Director of External Relations is responsible for monitoring fundraising activities undertaken. The Calne Foundation Twst was estsblished in April 2012 to undertake fundraising and alumni management strategies to support both schoo￿. A key focus now 15 on builditL8 a strong and $￿Stainable Bursary Fund to support the award of means-te5ted bur5arie5 so that children frorn familie5 that canttot afford the fees con benefit from th¢ oyt5tanding education and tran$fomiational opportunities that w¢ offer. Reseryu Policy Unrestri¢ted Funds at 31 August 2022 were £16.111.928 (2020-21- £15,979,058), a]1 of whith represented ￿ndS deployed a5 part of premise4 facilities and equipment. Restrict¢d Funds at 31 August 2022 ￿re £9,983.32012020-21: £9.919.108) and Endowed Funds £71.905 {2020-21.' £73.995). The ￿1￿)0] has no free reservcs. This is typical of many independent schools du¢ to th¢ high value of fjxed assets and the need for continuing ¢apital expenditure from retained Teserves, in support of our ¢haritsble obje¢t& Golng Concern Cash flow projection5 ar¢ revi¢wed iTh detail ai each termly tneeiing of the Finance & General Purposes Committ¢e. This ittcludes stress te5tÉng to assess the effect of any variatLQIt5 in the underlying &5sumptions relating to pupil numbers, fee lev¢ls. intlation and interest rdte5. Thi5 attalysis, together with our monthly manag¢m¢nt accounts, our bud8et prortss as well as our balance Sheet has satisfied the Governors that the School will continue to b¢ a Going Concern and th¢ accounts have been prepared on this basis. As the S¢hool is a charity there are no ret8itted profits. Any Ope￿10nd1 surplus 1$ used to itive￿ in the educational activities of thE Charity. repay loans and to tnaintain and improve the site. and this is reflected in the strong tangibl¢ asset value. IvvestnKni Objecllves aftd PerfOr￿an(e Governors aim tooptitnis¢ the overall retum on inv¢stm¢nts withinthe overar¢hing obj¢¢tiveof sustsining income (while COtLtinuing to preserve the real value of endowed inv¢stments), to mayimise income on sknrt.tsrm invested restricted nds. Endowed Funds representing th¢ Scholarship, Prize and Capital Funds 8Te inv¢st¢d in shares in the centr￿ Board of Finanee Inve$tm¢ni Fund. The5¢ inv¢s¢m¢nts g¢n¢rat¢d losses of £2.090 (2020-21.. gains of £l3.0791. RESPONSIBILITIES OF THE GOVERNORS The Governors (who are also Directors of St Mary's School (Calne} for the purposes of company law) are re5pon5ible for preparing the Annual R¢port of the Govemors and the finan¢ial stotsments in accordance with applicable law and United Kingdom Accounting Standards {Unit¢d Kingdom Generally Accepted Accounting Prncticx)- Company l&w requir¢s the Governors to prepare financial statements for each finan¢ia] yearthat give a true and fairview of the stat¢ of affairs of the charity and the group and of the incoming resources atKi application of r¢sources, including the income and expenditure of the group for that period. In preparing t￿se financial ylatemen the Governors ar¢ rquired to: seleet suitsblc accountin8 polieie5 and then apply them con5iStentty- obsetve the m¢thods and principl¢s of the Charities SORP. make judgements and estimates that are reasonable and ptudenL state whether applicable accountin8 Standards have beeTh followed. subjectto any materta] departure5 disclosed and explained in the financial statements. and pr¢pare the financial ststem¢nts on th¢ going ¢on¢¢m basis unless it is i118ppropriAte to presum¢ th8tih¢ Charity will continue in busines 12 St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear end¢d 31 Au ust 2022 The Governors are responsible for keeping proper accounting record5 that dis¢lose with reasonable accuracy atany titlle the financial y)sition of the Charitable coinpany and the group and which enable them to en5ur¢ the financi215taiements Comply with the CompaThie5 Act 2006. The Governors are also r¢spon8ible for safeguarding the assets of th¢ charitable company and the group and hence ftsr taking reasonable steps for the prevention and d¢t¢ction of fraud and other irregularities. Th¢ Governors confirni that they hav¢ eomplied with the duty of Section 4 of the Ch8riti¢s Act 2011 to have due regard to the Charity Commission's genetal guidance on publi¢ benefit The Governors have referred to the guidance in the Charity Commission's general 8uidan¢e on Publi¢ Benefit when revi¢wiTrg the S¢hool'$ aims and obj¢c¢ives and in planning the SclLooI's fufyre activities. Itl particular. the members of the Goveroin8 Body have Considered how planned xtivities will contribut¢ to the elms and objKtiYes that have been articulated. HOW THE BOARD COMPLIES WITH ITS SECTION 172 DUTY Under Section 172 of the Companies Act 2006 the Board of Governors, as Company Di￿CtOr& have a duty to promote the long-temi success of the eharity and in doing so have regard lamong$t other matters) to: the likely ¢onsequen¢es of atly decision in the long terni. the iiiterests of the charitable company's employees,. the necd to foster the Gharitable company's business relationships with supplier5, CUStom¢rs and oth¢t5; the impact of th¢ charÉtabl¢ ¢ompany's operations on the community and the environment. th¢ desirability of the chaTitabl¢ company maintaitling a r¢putation for high stsndards of business conduct. atbj the need to &ct fairly &8 between members of the charitsble cotnpany. The Governors welcome the new reporting requirement &s an opportunity to explaiTL how dialogue with skk¢holders I informed and helped shape its decisions in promotin8 the su¢ces5 of the School to a¢hieve its charitable pvrp)se5. As set out on page 9, the Sthool has developed, and will eontinue to fost¢r, partheTships in the comtnunty. Thi5 IS mlltually beneficial.. it gives our pupils a sense of responsibility and servtce to others- and help5 10 widm access to facilities and education for local children. Through Tnembership of HMC. IAPS, AGBIS and ISBA. and through ¢hvorking with peer groups, we ensure that we ar¢ able to attain the highest 5Èandards of quality and perfonnwe. Details of how th¢ sch￿>] has engaged with employees and had reg8rd to employee inter¢5ts and ¢an be foundwithin the Employe¢ Involvement and Equal Opportunity note on page 6. Below this on p88e 6 there are dctails of ourvolunt¢ers. We beli¢ve that the su¢c¢5s of the Charity in meeting its ¢haritabl¢ aims 15 d￿nonstr￿t¢d throughout this report. The School is gov¢rned in a¢cordaThc£ with the structure outlined on page 2. Governors are responsible ftsr strate8i¢planning and poli¢ymakin8 and, a¢cordin8ly. all key decisions relating to these are taken by th¢ Board. 13 St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2022 srREAMLINED ENERGY & CARBof4 REPORTING We are required to report on GHG emissions and energy use data for the period l October 2020 - 30 September 2021. We have also included dats for the period I September 2021- 31 August 2022 to bring the reporting p¢riod in line with the financial year. The transport, LPG and dome5¢i¢ style property ¢¢)n5umption is small and has been C￿luded from this report under the de.minimis rnl¢. Otherwise, key data for the sit¢ is summarised as follows.. UK GHG Emission and Energy Dats 2•21-22 2021￿21 2019-20 201&19 Energy eon$umpti•n ￿8¢d to ealeulats emi55ion$ (kwh) 4J73,562 4,917.865 4,843J99 SJ88473 Scope l.. Emissions from the combustion of Natural Gas tC03t 640.73 660.68 657.33 695.59 DEFRA Conversion Rate for G85 used in above calculation {kglCOYkWh) 0.18 0.18316 0.18387 0.18385 Scope 2: Emissions from purek8sed Electricity tco 273.43 278.31 295.57 35&06 DEFRA Conversion Rat¢ for Electricity USEd in above calculation {kglC02JkWh) 0.19338 0.21233 0.23314 0.25560 Total gTO&8 Cole based ott above {tCthe) Intensity Ratio l.. tonnes CO2e gnss based mandatory fields aEove per ctre square of Gross Internal Area tonne CO2e m" 914.16 938.99 952.90 1,051.65 O.lJ36 0.037 0.038 0.043 tonThes C02e m", tonnes Cole tonnes Cole m" tonnES Cole m", Gross Int¢rnal Area used to calculate IRI (new library added 2020 @ 625ml 25,438m' 25.438m 24.813m" 24.813rn Intensity Ratits 2: tonnes CO2¢ gross based on mandatory field5 above per pupil 1.75 tonnes Coze I Pupil 1.8 tothnes Cole I Pupil IJ tonnes Cole I Pupil 2 ¢onDes C02¢1 Pupll Numberof pupils used to calculate IB2 522 522 529 530 2018-19 data was taken from ESOS Phase 11 report" subsequent data h&3 ken compiled using the same metI￿do108Y of analysing energy metering, invoices and supply summaries I statements. It sI￿Uld be noted that both 2019-20 and 202¢k21 were affected by ]￿tiOnal lockdowns and consequent closNr¢s of both the schools and the sports centre. This will have reduced energy usige overthose 2 years, but we are plea5cd to see that 2021-22 emissions remained lower de5PLte th¢ s¢hool b¢iog fully open for th¢ duration. Tot￿ carbon emissions have fallen by 137 tonnes (13%) ITr 3 year5. 14 St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ¢nded 31 Au ust 2022 ENERGY EFFICIENCY & ENVlliONMENTAL ACTIONS The Sch(x)l is fitlEy committed to improving its carknn footprint and to r¢du¢ing the environmentsl impact of its operations. Matty of the buildings on sile were cottstructed at a time wh¢n the importance of energy effi¢i¢ncy was NA so well- und¢rstood, and con5equerrtly they have poorthemlal characteristiC5. We have aphasedprogrdmmeto improvein5ulation and ¢fficÉ¢nGy wh¢r¢ pos5ibl& We are thlly committed to ensuring that any new buildings meet high staTrdards of tfficiency and are envrronmentally friendly. This includes repl￿1￿￿ ageing buildiD8S where possible rdth¢r than developing 'gTeen' are&s of the site. During the year the following action5 were amongst those taken to reduc¢ energy consumption and carbon emission4 and to improve the environment.. Replacement of 44 single.glazed 'Crittall' windows wth modem themially-efficient double.8lazed units. This was the second ph&se of ihe Teplacement programme, 39 n¢w windows havit5g been iDStalled in 21J21. 2. Replacement of the ageing gas boilers aTLd plant in the maiD school building. Whilst itwas not possiblelo install alt¢rnative technologieg due to age ofthe buildings ctsrt¢emed and their respective heating syst¢m5.thenew 8a5 boilers are much more efficient than the old. Work will conlinue to improve the fabric of ttle buildings to make th¢m syitsble for new technologies in the futhre. 3. Purchase of a themia] ima8in8 catnera. which we or¢ using to h¢lp us d¢ternLine where most h¢ot k>ss is occurring in orderts prioritis¢ measures such &81oft insulation and se￿ndary double glazing. 4. Continuation of the rolling programme to itLStall thernaostati¢ radithr valves and other controls to wve the he&ting systems, efficiency. 5. Continuation of th¢ rolling programme to introduce LED lights and motiort sensor5 throughout the s¢hcol. 6. A¢tive encouragement of stsff and pupils to switc1] off lights and ¢quipmeni when not in u54 and tobjm dow radiators where possible. STATEMEf+Tf AS TO DISCLOSURE OF INFORMATION TO THE AUDrroR The Governor5 WE￿ were in office OD the dats of approval of these fillancial statements have confirnied, 8$ fw w Ihey are aware, that there is no relevant audit information of whieh the auditor is unaware. Each of the Gov¢rnors have eonfirn]ed that they have t8ken all thesieps that they oughtto havetaken as Govemors in orderto makethem5dves aware of any rtlevant8udit intomiation and to establish that the auditor is aware of that irtformation. The Governors, R¢port artd in¢ortK>rated Strntegic Report were approved and athoris¢d for issue by the Board of of St Mary's School (Calne) on 18 March 2023. Mr S Adde Chainnan of Governors 15 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE} Opinion We have audited the financial statements of St Mary's School (Calnel (the 'parent charitable eompany'l and its subsidiaries {th¢ 'group'l for the year ended 31 August 2022 which comprise the Consolidated Statement of Financial Activities, theGroup and Company Balance Sheets, the Consolidated Statementofcash Flows andnote5 to the fiTran¢ial statements. includlng significant accounting policies. The financial reporting framework that has been applied in their prepardtion is appli¢able law and United Kingdom Accounting Standards, includin8 FRS 102 he Financial Reporting Standard opplicable in the UK and Republic of Ireland" (United Kingdom G¢nerally Accepted Ac¢ouThting Practice). In our opinion the fEnancial Statements.. give a trLEe and fair view of the State of the 8roup's atHt the parent charitable compatky's affairs as at 31 August 2022 and of the group's incoming resou￿¢5 and application of re50urce5. itlcluding its income and expenditure. forthe year then ended: have been properly ptepared itt accordence with United Kingdom Genernlly Accepted Acwunting have been prepared in a¢cordan¢e with the requirements of the Compani¢s Ad 2006. B1515 for OPiniOD We coDdu¢ted our audit in accordance with lThternational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those 5tandard5 are further described in the Auditor's responstbilities for the audii of the fittancial statements section of our report. We are independent of the group and parent ¢haritsble company in dee0rda￿e with the ethi¢al ￿quireMents that are relevant to our audit of th¢ finan¢ial statements in the trK. includitk8 the FRC'S Ethic￿ Standard and we have fulfilled our other ethiral responsibilities in accordan¢¢ with these requirements. We believe that the audii evidence we have Obtain￿ is sufficient and appropriat¢ to PTovid¢ basis for ovr opiniotl. Concluslorty relating to going coRterR In auditing th¢ financial ststements, w¢ have wncluded that the Gtsvernor5' use of the going concern basis of a￿lInting in the preparation of the financial staiem¢nts is appropriate. Based on the work we have performed, we have not identified any material uncertaiijties relating to evethts or L¥)nditions tha¢ individually or collectively, may cast si￿15¢ant doubt on the group'5 or parent ¢hariiabl¢ eompany's ability to c¢)ntinue as a going ¢on¢¢m for a period of at least twclve months frnm when the fjnancial 5tateEnents are autl¥)ris¢d ftir issue. Our responsibilities and the respon5ibilitie5 of the G0Ven￿[s With r¢s￿¢t to going concem are described in the rekvant sections of this report. Other informatio The other information comprises the information ineluded in the Annu81 Report of the Governors other than the rinarycial statements and our auditor's report thereon. Th¢ Govemors are responsible for the other inforniation Contain￿ within the Annual R¢port of the Governors. Our opinion ott the financial statements does not cover the other irtftirmation and, exc¢ptto th¢ ¢xtentoth¢Thvis¢ explicitly ststed in our repo¢ we do not express any forni of 1$5urane¢ conclusion thereon. Our responsibility is to read the IAher inforniation and, in doing so, consider whether the other infortEthon is materially inconsistent with th¢ financial stst¢ments or our knowledge obtsined in the course of the audit or otherwis¢ appeaTS to be materially misstattd. If we identify such mat¢rial inconsistencies or apparent material mi58tatements. we are r4uired to determiTre whether this 8iv¢s ris¢ to a material missiatement in the financial statements themselve5. If, bwdon thework we have perfornied, weo)nclUdeth￿tkne is amaterial misstatemertt of this oth¢r inf0rniati0￿ we are requirtd to report that faci. We have tK)thing to report in this r¢gard. 16 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) Oplnions on other matter5 prescribed by the Companies Act 2006 In ouropinion, based OD the work undertaken in the ￿Vr5e of the audit: the infonnation given in the Annual Rew)rt of the Gov¢rnor4 which in¢ludes the Director5, Rewt and the Strategic Re￿rt prepared for th¢ purposes of company law, for the financsal year for which the fillan¢i&l stat¢m¢nts are prepared is consistent with the financial stateme[￿. and the Directors, Report and the Str*¢gic Report included within the AnDual Report of tht Govemorg have b¢en pr¢pared in accordance with applicable leg￿ requirements. Matters on whitb we are required to report by exception In the light of the knowledge and understsnding of the group and the parent ¢haritsble cotnpany aDd their ettvironment obtained irt the course of the audit. we have not identified material missiaiements in the Ditectors, Report or the Strategic Report inciuded within the Allnual Report of the Governor5. We have ftothing to teport in respect of the followin8 nMtter5 wher¢ the Companies A¢t 2006 requiTe us to report to you if. in our opinion: adequate accounting records have not been kept by the pareTht ch￿ilable company. or returns &kquate for our audit have not been received from branches not visited by us. or the parent ¢haritable company financial statemeTLts ar¢ not in agreement with the a¢￿UntIng reeords and returns. or certain dis¢losures of twstees. remuneration specifled by law are Dot made. or we have rettived all th¢ inforniation 8TrJ ¢xpl8nations we wuir¢ for our audit. Rupon8ibillties of Governor8 As explained moT¢ fitlly in the Statement of Governors, respon5Lbilities set out OTr pog¢5 12-13. the Governors (who are olso the directors of lh¢ charitable company for the purpos¢s of comp8ny1ow) are responsible for the prepardtion of the financial 5tatem¢nts and for being satisfied that they give a true and fair view, and for such internal control as the Governors detemiine is necessary to enable the pr¢pardtion of financial statcm¢nts that ar¢ free from mat¢ri81 mi5StatetnenL whether due to fraud or error. In prepartng the financi21 statements, the Governors arer¢sponsible ftsrass¢ssingthegroup'5 and p8rent¢haritable company's ability to ¢ontinue a5 a going ¢oneern, disclosin8, &8 applicable, matters Telatfyl to going ¢oll¢ern and USIDg the going con¢em basis of accounting unless the Gov¢rnors either int¢nd to liquidat¢ the group or parent charitsble company or to CX&3e operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audit of the fi￿011£1￿1 ststements Our objectives are to obtain reasonable assufdnce about whether th¢ financial statements awhole are free f￿rn material misstatement, whether due to ftaud or error, and to issu¢ an auditor's report that includes our opinion. Reasonable 8ssuranrK is a high level of a$S￿rance. but is not a guatartt¢e that an audit conducted in actsMl&n¢e with ISA5 (UK) will always dete¢t 8 material mi55tatem¢nt wheTh it exists. Mis5tatetn¢nts ¢an ari5¢ from tAud or error and are considered materia] if, individuaily or irt th¢ aggregate, they could reasonably be expected to influenc¢ the econojnic decisions of uscr5 taken on the basis of these fittancial ststements. Th¢ exttnt to which the audit was considered tapabte of dete¢tlng irreg¥larltles, iDcluding frnud Irregularitie5 are inslanc¢s of Tron4ompli8nc¢ with laws and regulations. The obj¢¢tiV¢s of our audit &r¢toobtain sufficient appropriat¢ audit evidence r¢gaTding compliance with laws and regulations that have a dir¢¢t ¢￿t on the detemiination of m￿tri￿ amouDts and dis¢lo$ures in the financial statem¢nts, to perfomi audit proeedures to help identify ins1￿CeS of non-¢ompliance with other laws and r¢gulations that may have a material efftcton the financial stat¢ments, and to r¢spond appropriately to identified or suspected non-cA)mpliance with laws and regulations Id￿lifted during the audit. 17 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) In relation to fraud. the objectives of our audit are to identify and assess the risk of material mi5Statement of th¢ ri]wieial ststements due to fraud, to obtsin sufficient appropriate audit evidence regarding the assessed risks of material misstatemetrt due io fraud through de5ignirtg attd implementing appropriate resportses and to respond appropriately to ￿ud or Susp￿t¢d fraud identified during th¢ audit. However. it is tlle primary respoHsibility of Mar￿gemen( with the oversight of those charged wÈth gov¢rnance, to ¢nsure thatthe entity's operdtions are conducted in accordance with the provisiot)s of laws and regulations and for the prevention and d¢t¢¢tion of fraud. In identifying and &%se55ing risks of material misstatemertt in respect of iTregulaTities, including frnud. the gri)up audit engagemeni team- obtsined at) undeJ3tsnding of the nature of the s¢clor, including the kgal and regulatory framework tbat the group and patent charitable co]npany operate in and how the group and pareni charitsble company are complying with th¢ legal and regulatory fr4mework,. inquired of tnanagemeni, and those Charged wrth gov¢mance, about their own id¢ntifi¢ation and a55essment of the risks of iTregularitÈes. including any kntswn a¢wal. suspeeted or alleged insran¢es of fraud. discussed matters aFrf)ut non-complian¢e with laws aThd regulations and how fraud might occur hn¢luding 25ses5ment of how and wh¢re the financial stat¢m¢nts may be susceptible to fraud. As a resuli of these procedures we cotlsider the most significant laws snd regulations that have a dire¢¢ impact on the financial ststements are FRS 102, Charitie5 SORP IFRS 102), Companies Act 2006, Charities Act 2011, th¢ paTent charitable c(Trmpany's gov¢ming do¢umen¢, tax l¢gislation and Chariti¢s IProt¢dion and Social Investsnent) A¢t 2016. We perforn)ed audit procedures to detect non-compliances which may have a materia] impa¢t on the financial statements which includ¢d reviewin8 the financial $tatem¢Dts tDcluding the Report of the Govcrnors, remaining alert to new or unusual transactions which may not be in accordance with the gov¢rning documents. in5pe¢ting eonespDrtdence with local tax authorities and evalwating advice received from internavexternal advisors. The most sigTtificant laws and re8ulations that have an indirect impact on the financial statements are The Education {End¢pend¢nt School Standards) Ke8ulations 2014, Keeping Children Safe in Education under s¢¢tion 175 of the Education Act 2002, and the UK G¢nernl Data Pn)te¢tion Regulation (UK GDPR). We perfonned audit pro¢¢dures to inquire of managetnent and those ¢harg¢d wilh governance whether th¢ ¢haritable company is in mplianee with these law and regulations and inspected correspondentt with regulatory authorities. The audit engagement team identified the risk of management oyerride of controls and income r￿OgnItIon as the areawhere the financial stat¢rn¢nts w¢r¢ most s￿￿ept)ble to material misstatementdue to fraud. Audit procedures rfomjed included but were Thot lirnited to testing manual journal entries and other adju5tm¢nts, evaluating the business rational¢ in relation to Slgnificanl, unusual transactions and transactiotts erttered into outside the nonnal tse of business. challenging judgments and e8tirna*s and perfonning Substantive testof detsils over a sampling of donations. A ￿[ther d¢5cription of our rc5ponsibilities for the audit of the financial stsiements is provid¢d on the Financial Reporting Coun¢il'5 website at htt ..IAvww.frG.o .uklauditorsre nsibilities. This description fomis part of our auditor's report. 18 tNDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) Use of•ur report Thi5 r¢port is made solely to the ¢haTitabl¢ company's members, as a body. in accordanc¢ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable ts)mpany'5 membeTS those matters we are required to state to them in an auditor's r¢rM)rt and for no other purpose. To the ￿lIest extent permitt¢d by law. we do not accept or assume responsibility to aTLyone other than the charitsble company and the £haritabl¢ company's members as a body. for our audit work, for this report, or for the OPiDions we have fomied. KEBJiY GALLAGHER (Senior sts￿tory Auditor) For and on behalf of RSM UK AUDrr LLP, Statutory Audttor Chartered A¢¢ouDtaThts Davidson House Forbury Square Reading Berkshire RGI 3EU 24 March 2023 19 St. Mary's School (Calne) (a company limited by guarantee) CONSOLIDATED STATEMEWF OF E[NANC￿L ACTIVITIES INCLUDING tNCOME AND EXPENDITURE ACCOUNr for the year ended 31 August 2022 Totsl Funds 2022 T(thl Funds 2021 Unrestricted Funds Restricted Funds Endowment Funds Noies tNCOfv￿ FROM.. Charitable aetivitie5 School fees receivable Other educational income Other an¢illary trading income 3(a) 15.114.930 3(b) 276.162 15.114.930 276.162 14,235.575 254,474 3(b) IY2,893 192.893 196.910 (Mher trdding activities 3(¢} 604,973 604,973 323.655 Investment incom¢ Donations Other Income 31b) 3(b) 3(b) 10,806 3.715 14,371 386.627 25.177 390.342 20.385 504,765 409,849 Totsl income . 16.203.479 400,998 16.604.477 15,945,613 EXPENDITURE ON.. Chirit8ble ictivitie5 Sthool opernting Costs 15,048,205 250,477 15,298.682 14,663.473 Rgislng funds Other trading expenditure School financing costs 898,808 111.334 898,808 111.334 730,209 58,212 1,010.142 1.010,142 788.421 Totsl exp¢nditure 16,058.347 250.477 16,308,824 15,451,894 Net (105s¢s) I gains on investsnents {12,262> (86,309) (2,090) (100,661) 161.228 NET rNCOMEI(EXPENDITURE) NETMOVEMENT FUNDS FOR THE YEAR 132.870 64,212 (2,090) 194.992 654.947 132.870 64,212 090) 194,992 654,947 Fund balances at start of year 15.979,058 9,919,108 73.995 25.972,161 25,317.214 Fwid b￿an¢t& at end of yeaT 19-21 16.111,928 9.983.320 7I,905 26.167.153 25,972.161 The notes on page5 23 to 46 forn part of these aetounts. 20 Company Registration No. 00235572 St. Mary's School (CaIne) (a company limited by guarantee) BALANCE SHEETS as at 31 August 2022 GROUP 2022 SCHOOL 2022 2021 2021 Noteg FIXED ASSETS Entsngible assets Tangible ass¢ts Inveslm¢nt proprtty InveskneDt &S5ets 2,963 6.513 29,350.826 30,149,443 302.313 ,397,910 2.963 6.513 29,313.084 3Q089,899 io 1.496,802 213,233 225.494 31.054.012 31.652,758 29.529,280 30,321.906 CURRETrrf ASSKTS Stocks 12 13 111,035 882,087 3,127,093 100,658 760,853 2,946.081 108.015 517,791 2.501,387 99.224 431,71B U24.766 Cash at bank attd in hand 4,120215 3,807 592 3,127,193 1755.708 CREDITORS: Amounts falling due within one year 14 (3.984,317) {4,469,747) (3.859.971) 14,362.2341 NET CURREf4T ASSETSI (LIABILITIES) 135.898 (662,155) 1732.778) IIA)6.526) TOTAL ASSETS LESS CURREP4T LLiBILITIES 31.189.910 30.990.603 28,796.502 28,715.380 CREDITORS: Amounts falling due after mor¢ th8n one year 15 (5,021757) (5,018.442) (5,022.757) 15.018.442) NET ASSETS 26.167.153 25,972.161 23,773.745 23,696,938 FINANCED BY: Endowment funds Rcstri¢t¢d funds Unrestricted fi]nds R¢valuation r¢5erve 19 20 21 21 71.905 9983,320 15,487,940 623.988 73,995 9,919,108 15.355.070 623,988 64,031 7.576,521 15,509205 623.988 64.032 7,629.907 1SJ79.011 623,988 Totsl fuDds 26.167.153 25,97II61 23,773.745 23,696.938 The entity tsken exemption from presenting its individual profit and loss account urtder section 408 of Cornpanies Act 2006. Th¢n¢trnovem¢nt in ffiJnds forth¢par¢nt ohArity w&s£O.77m (2021.. £0.85m) and thenet inwme fortheyearwas£O.89m (2021.. £0.85m). Approved and authorised for issue by signed on its b¢half by.. ard of Governors of St. Mary's School (Caine) on . Mr S Adde Chairman of Governors The notes on pages 23 to 46 fomi part of these ￿cOunts. 21 St. Mary's School (Calne) (a company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 August 2022 2022 2021 Notes Cash flow from oper4ting 4ctivities: C&sh generated by operations Interest paid 22 2,119,823 (111,334) 978.476 (58,212) Net ush from operating a¢tivltles 2.008.489 920.264 Cash flows from investing a for th¢ School itself is not presented as pemiitted by Section 408 of the Companies Act 2006. GOING coN￿RN Th¢s¢ fJnancia] statements have been prepared on agoing concern bosis, which th¢ Governojs considerts be appropriate as a result of projc¢tion$ prepared (including sensitivity of key assumptio￿), whi¢14 tO8ether with assurances provtded by the School's bankers and other lenders, indi¢4te that the School will be able io OP¢Tate within the facilitiu currentty available. The financial statement5 do not include any adjusknentsthatwould result from the withdrawal of th¢ l¢)ans by the Sehool's bankers or other loan facilities. Basa on the School's forecasts a￿1 action plans, the Gov¢rnors¢on5ider it is appropriate for ¢h¢ financial stst¢ments to be prepared on the going wncern b&sis. 23 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS {￿￿tillued) for the year ended 31 August 2022 ACCOUNfING POLICIES {¢ontinu¢d) FEES AND SIMILAR tNCOME Fees receivable and charge5 for setvices and use of premises a¢¢ounted for in the puiod in which the service i8 provided. Fees teeeivable are stated afterdeducting allowance& scholarthips and other rernissions granted by the Group. Fees re¢eiv¢d in advance of educatitsn to be provided in future years under an Advance Fee Payments S¢heme contrdct are held as interest-bBartng liabilitie5 until either taken to income in the terni when us¢d or else refundd. Inv¢5tment in¢orneearned on them in themeantim4 if¢xc¢¢dingth¢ provision forany debt-finatL¢ing Costs arisingundertheconiracL is tsken to a desiwted to cover any ultima¢e shortfall that may arise on the S¢heme. All oth¢r types of income, including investment income, are accounted for on an arxNaL8 basis and when the Group h&% entitlement, th¢ amotsnt involved Can be r¢liably quantified and atransfer of economic benefit to the Group ts probabk. DONAT¥ONS AND FUND Accou￿riNG Don&tion5 aThd l¢gacies are accounted for as and when the Group h&s entitl¢m¢nt, the amount involved cart be reliably quantified and &tratL5fer of economic benefit to the Group is probabl¢. Dona¢ions receivable for the generydl purposes of the Group are eredited kn Unrestrrcted FuTrds. Donations for pUT￿eS restricted either by the wishes of the donor or the ternis of the appeal are taken to Restricted Funds where these wish¢5 are legally binding on th¢ Gov¢rnor& except that aTry amounts required to be retained as capital itl accordan¢¢ with the donor's wishes a￿ ac¢ounied for as endowments- pem)anent or expendable according io the t)ature of the restriction. Expendityre is recogni5ed once there is a leg￿ or collstructive tsbligation to traDsfer economic benefit to a thrd party. Lt is probable that a traThsfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expetlditure is classÉfted by activity. The costs of each activity are made up of the total ofdire¢t ¢osts and shared costs, including support Costs involv¢d ID undertaking each activity. Di￿¢ ¢osts attributable to a st￿¢ a¢tivÉty ar¢ allocated direetly to that aciiviry. Shared costs which coniribut¢ io more than on¢ a¢tivity and support costs which ar¢ not attributable to a single activity are 8PPOrtioned between those activities on a basis consist¢nt with the use of resources. CeTht￿ stsff costs are allocated on the basis of time spenL and depreciation charges allocated onthe portlon of the a556t's use. The irre¢oveTable elemetlt of VAT is included with the item of expense to which it relates. PENSION scHE￿s St. Mary's School (Calne) contributes to the Teaehers, Pension Defitted Benefits Scheme. The TPS is an unfunded scheme and contributLon5 ar¢ ¢aleulat¢d SQ &$ to spread the cost of pensions over employees, working lives with the School in such a way that th¢ pension cost is substsntially a level percentage of ¢urrent and futurc pensionable payroll. The Contri￿tiOnS are d¢tennitLed by the Govemment A¢tsLary on th¢ basis of quadrennial valuations usin8 a prospe¢tive unit er¢dit method. The TPS is a tnu1t1-e￿P1oytr scheme and there is insuifjcicnt infor￿ation available to used defined benefit accounting. The TPS i5 therefore treated ts a defined contribution scheme, detailed irt section 28 of FRS 101 for accounting purp05¢s and th¢ contribytions recognised in the period tt) which they relate. Non-tea¢hing staff contribute io a defined contribution %heme where the assets are held in an eDtity sepsrnle to the School. Contributjoiis towards this scheme are a¢wunted for in the period to which thcy relate. 24 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOLfNTS (continued) for the year ended 31 August 2022 ACCOUNTfNG POLICIES (con¢imi¢d) TANGIBLE ASSETS capltsli￿¢IOn And replAtement New buildings. major improvements and extensions are capitslised at their origkjrdl cost. All repairs fir¢ charged to the Staternentof Finan¢ial Activities when the costs are in¢urr¢d. Furniture and equipment aquired for new buildiw, maior extensions and new projects are capitalised at their origittal cost. Assets b¢low £1,000 are rtot witalised. Depreeiation LaDd is not depreciated. Depreciation of other assets i$ piovided at rates calculated to write off the exc¢5s of c05t ov¢r estimated resid￿[ amount evenly overthe estimated useful Konomic lives of ¢ath ¢lass of ass¢¥ 5ubj¢ct to annual review. These tates are ¢utTently as follows.. Frtehold buildings Furnitur¢, fittings and equipment Motor vehicle5 2-10% straight line method 10* 20% or 33% strdight line method 25% Teducing balan¢¢ method The assets in the course of consttwdion shown in note 8 rekte to assets which l￿d been brought into use at the ye end. No depre¢iation has been charged on these assets. rNTANGIBLE ASSETS Intan8tble fixedassets costing£l,000 ormorearecapitsli5ed and recognised when fUt{￿eco￿lMi¢ beneflts 8sep¥obable and the cost or value of the net asset can be mcasured reliably. Intangfftble &ssets are initÈally re¢ognised at th5t and a¥e subsequently measured at cosi net of 8mortisation and any provision for impaimieTht. Amortisation 15 provided on intangible fixed assets at rates Calc￿lat¢dtO writeoff the eo$tofeach assetonastrnight-line b￿lS0¥¢r tts exF¢¢ted usefvl lif¢. as follows: Computer software 33% straight line method INVESTMENTS tnyestments Are valued rn the balance sheet at their mid-mark¢t value at the balance sheet dat¢. Investtneni management costs are ac¢ouElted for as inGid¢ntal c05t5 of the acquisltion or disposal wheie trarjsa¢tion-b￿d, while investment iacome management Costs are ¢harged as expenditure out of th¢ relevant income funds. UtJr¢alised and rellised gains and losses are shown tn the Statement of Financial Adivilie5. INVESIMENT PROPERT￿$ Inve51mertt properties (including propertits held underan op¢ratÈng lease) ar¢ initially measured atcost and sllbs4uently mwured at fair value. Changes in fairv8]ue are reeognised in profit or loss. STOCK Stock is valu¢d * the lowerof c05t and net r¢alisable valu¢ using th¢ FIFO basis. LEASES Where th¢ Group enters into a lease whi¢h entails tsking substhntially all the risks and rewerds of ownership of an asset. the lease is treated as & finanee lease. The asset is rccord¢d in the b￿a￿e* sheet as a langible fixed ass¢t isd2preciatsd in aecordan¢e with the al)ov¢ deprecialion policies. FU￿r¢ instslments under s￿h l¢as¢5, net of finance charges, are in¢lud¢d with creditors. Rentals payable are 4)portioned betw¢enthe fiTLanc¢ ¢lernenL whi¢h is char8cd to thestatement of FitLan¢tal Activities on a straight line b&si5. 2nd th¢ capital element which reduces theoutststtdiD8obligationfor fuDJre instaEmcnts. 25 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the ear ended 31 August 2022 ACcolfNT￿G POLICIES {¢onlinued) LEASES (cohllnued) Rentals applicable to operating l¢a5¢s wh¢r¢ subs¢antially all of the benefits and risksofownership remain withthe lessor are charg¢d against profits on & sknight line basis ovei th¢ period of th¢ lease. FINANCIAL fNsiRUMENTS TheGroup has elected to apply the provisionsof Section I I 'BasicFinan¢ial Instrnm¢nts' and Section 12'0therFinancial IDStrumet)ts Issues. of FRS 102 to of its financi81 instrnments. Finan¢ial iDstruments are recognised wh¢n the Group becomes party ￿ th¢ contractyal provisions of the instrnment. Financial assets and liabilities arc offset, with the net amounts presented in the fInat)¢1￿ statements, when there is a legally enforceable right to Set off the recognssed amounts 8nd there is an intention to settle on a n¢¢ basi5 orto realise the asset and settle the liability simultaneou51y. Basic ftt) ncia] ass B￿le financial ￿s¢ts. which include trade and other tt¢eivables and cash and bank IMlan¢¢s, are initÈally measured at transaction price ineludiThg transaction costs and are subsequently Carri￿ at arnortised cost using th¢ effective interest method uThless the 8Trangement constitutes a financing transaction. where the financial assd is measured at the present Yalue of the fuDJre re¢eipts discounted ai a mark¢t rate of iThtere5t. ainnentof finan Financial assets, oth¢rth8n those held at fairvalu¢ through profitor loss are ass¢ss¢d for indicators of impairrnent at each reporting end date. Financial ass¢ts are impair¢d where there is objective evÉdertce th￿, as a result of one or more events tha¢ occurred after the initial recognitÉon of the financial assel the estimated fubjre c&sh flows have been affected. If an asset is impair the impairmetlt loss is the difference between the carryÉng amount and the preseTrt value of the estimat¢d ¢osh flows discounted at the asset's original effective interest t3t¢. The impairnient loss is recDgnised in proflt or105S. If there És a d￿e in th¢ impairnient 105s arising from att event o¢curring after the impaiment w&8 recognised, the impairtnent is reversed. The reversal is such that the curreTLt carrying amount does noi ex¢eed what the ¢aJTying atnount would hav¢ been, had the impairment not p¥¢viously been recognised. The irnpairment revu5al is recognised in profit 01 nitio of financial assets Finatteial &ssets are dereo)gnised only when the contractual rights to the cash flows from the asset expire orare settled. or when the Group transfrrs the financial ass¢t and substantially all the risks and rewards of owttership to another entity. or if some sigTLifi¢ant risks and rewards ofownership are r¢tain¢d but Control of the asse¢ tr3nsfttred to anoth¢r party that is able to sell the as5¢t in its entirety ￿ an umelated third paty. Cl8ssifLcati f financial liabiliti Fin8n¢ial liabiliti¢s and equity instruments are classified according to th¢ substan¢¢ of th¢ contraetual ar￿￿ements ¢n¢¢r¢d into. An equity instrument is any ¢ontra¢t that ¢viden¢¢s a residual interest in the &85ets of the Group after ded￿￿ing all of its liabilitie5. B&sic fjn ¢ial liabil'ties B8si¢ financial liabilities. including trade and other payables and bapk loans, are initially recogni5ed at transaction price unless the arrangement ¢onstitutes a financiTh8 transaciion. where the debt ittstrumertt is measured atthe pr￿e]It value of the thtUTe payments discounted at a mark¢t rnte of tnteresL D¢bt instruments are $ubs¢qu¢ntly CWTied at amortised ws( using the ¢ffectiv¢ inter¢51 ra¢¢ method. 26 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2022 I ACCOUNTfNG POLIC￿ (Conlimied) FtNANCIAL INSTRUMENTS (¢onlinued) De￿¢0 on of finan FtnaH¢ial liabilitie5 are derecogni5ed when. And Onty Wh￿the OTOUP'S COntr￿tual obligations aredischarged.tancelled, or they expire. ui Financial iEJStTuments Glassifi¢das equity instrijments arerecorded atthe fairvalue of ihe cash or otherresourcesieceived or receivabl¢, n¢t of transaction costs, unless th¢ equity itkstruments are issued to extinguish a fiThan¢ial liabiliry du¢ to a shareholder or a party under common control, or in a¢wrdan¢¢ with the original terns of the finan¢ial liability. A¢¢e tan¢e de sits Accept2ttce deposits are paid to the Group to s¢cure a place for the child at the School. Deposits held forn) part of the g¢neral funds of the Group until the child leaves the School at whi¢h point they are credited without interest to the final payment of the f¢¢$ or other sums due to the Group. Deposits ar¢ held as other creditors on the balance shttt and are ¢lassified ￿ owing within one year and over othe yeor b&sed on wh¢n they are expected ￿ be uediied againstiocome. GOVERNfvLENT GIL4NTS Governmen¢ grdnts are re¢o8ni5ed at the fair value of th¢ asset received or reeeivabl¢ wheTh ther¢ t$ reasonable8sgur8ttC¢ that the grant ¢onditions will be met and the grants will be revived. The Group rettived discretionary cath grants from th¢ government as part of the Coronavirns Job Retention Scheme fCJRS') which compensates employer5 for part of the wages, associated natiotlal insurdnce contributions (NICS) and employer pension Co[￿lbut1o￿s of employees who have been placed on filrlough (i.¢. placed on a tempor￿ leave of absence from WO￿l￿g for the employer). Th¢ gront is ¢onditional ypon the employees being ¢mployed fjnd on the Company PAYE payroll and the employee cannotdo work forth¢ir employerthat makes mon¢y orp￿vIde$ s¢rvices for therr employer or any organisation linked or associated with their employer. Th¢r¢ are no unfvlfilled conditions or contingerteies attached to the grant. CRITICAL AccoifNTING JUDGEMENTS AND ESTtMATES In the applicatiort of the Group's a¢countittg Policies. The Gov¢rnors Are required ￿ make judg¢ments, estirnates ond assumptions about the ¢arrying aN]ount of &ssets and liabiliti¢s thai are nol readily apparent from other source5. Th¢ estimates and &%sociated assumptions ar¢ based on historical experience and other fa¢tors that are ¢onsidered to be relevant. Actual results may differ from ih¢se estim&te5. Th¢ ¢stimates and underlying assumptions reviewed on an ongoing b#si& Revisions to accounting e5tima¢es are recognised in the period in which the estimate is rev15ed wh¢re the revisÈon afftcts only that p¢rio4 or in the period of revision and fubjre periods wher¢ th¢ revision aff¢cts both Current and ￿t￿re periods. Critical #LYountiDg jwdgements -em er defitted be ension s¢h¢me Certain employe¢s parti¢ipai¢ in a multi4mployer defined benefit pension scheme. In the judgment of the Gov¢mots, the Group does not have Sufficient infoErn81ion on the plan assets and liabilities to be able to r¢liably accoun¢ forits share of the defined benefitobli8ation and plan &85ets. Th¢refore the scheme is accountrd for &8 a defLn¢d coThtribuliofts¢hem¢. Critic81 *eeounting estAm8¢•s Us nomi¢ ibl¢ and intan le assets The artnuai depreciation attd amortisation charge is sensttiye to any changes in th¢ estimated usefvl life residu81 value5 of th¢ tangible and intangible assets. The useful economie lives and residual value is assessed on an annual basis and are ameTLdd only when evidenee shows a change ID the estimated ¢¢onomic lives of residual lifa Crileiia used to assess the economic life and residual value includes iechnological advancemenL ¢¢oTromi¢ utilisatiort, Physic￿ condition of thc asset and future inve51mellts. 27 St. Mary's School (Calne) (a company lirnited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 Au ust 2022 3(a) SCHOOL FEES The Schoo15' fee income ￿mprised.. 2022 2021 Gr05s ftes Less.. MeaTh5 t¢sted bursaries and scholaT5hips Other Allowancc5 CV19 fee reduction 16,652,289 16.261.815 {1,180,3011 {1,129.948) (357,0581 (272,094) (624,198) 15.114,930 14235J75 All income from School fees relate to unrestri¢ted thnd$ in the current atkd priorycar. 3{bl OTHER INCOMB 2022 2Q21 Other educational ineome Entrance and registration fee5 Courses and sub-letting5 139,112 137,050 178.467 76.007 276.162 254,474 Other glltiliary tr*din% income Insurance commi5sion5 Unifomi shop After School Club S¢tLooI accommodation Events 27,210 85,084 37,103 7,810 35,686 37,605 112.754 26.620 3.340 16,591 192,893 196,910 All income from other edu¢ational and other ancillary tradiTrg inwme r¢lat¢s to Unrestrict￿ ￿TrdS iD the curnt and prior year. 2022 Investment Income 2nd Ggins and losses Fixed Asset Inv¢stment In￿Me 25,177 20J85 25,177 20J85 Ofthe above investment inwm¢£lO,806{2021.. £5.913) relates to urttstri¢ted ￿Trds md£14.371 (2021.. £14.472) Telat¢S to restricted fijnds. Of the above investment {Iosse5) I gains, a105s of £11261 (2021.. gain of £25,607) relate5 to unrestri¢ied ￿nds, a ioss of £86,309 (2021.. gain of £122,542) relates to restricted funds and a loss of £2.090 (2021.. gain of £13.079) relates to endowmerkt ￿nd* St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (Gontintsed) for the ear ended 31 August 2022 3(b) OTHER [NCON￿ (con￿￿4¢d) 2022 2D21 DoDa¢ions 390.342 504.765 Of the abovedonations£3,715 (2021.- £3,799) relates to uttr¢stri¢ted fimds and £386.627 (2021.. £500,966) relates to restricted f￿￿$. It should be noted that due to Chariti¢s SORP recognition criteri8£352,756 (2021: £342,016) of the 8knv¢ figure is pnsented within accrlleit income. but had not been received as rash by year end. 2022 2W21 Othw Income Covid 19 Fyrlough S¢h¢me 409,849 Of the above government grant income £nil (2021.. £409,849) all relates to unr¢stricted funds. 3(¢) OTHER TBADING tNCOME AND EXPENDrruRE S¢. Mary sschool (Calne) servic￿ Llmiled (Companynumber.. 041J1368J Th¢ School controls St. Mary's School (Calnel Services Limited, whose principal activity is the operdtion of a centr¢. The registered address of Si. Mary's School {Colne} servi￿ Limited is th¢ same &8 the S¢hool. Any profits of the trading $ubsidi8ry will be paid to the kh(x)l under gKft aid. Trading turnover. op¢r*ing costs and net results extracted from its 8udit¢d aecounts forthe year ended 31 Augu$t 2022 and 31 Ay8USt 2021 are shown below. 2022 2021 Turnover Other op¢ratin8 income 854,097 500 574,030 85,278 Admiriistsative expenses and int¢r¢st payable (847,890) (n7,757) N¢t surplusl(defi¢it) for the year 6,707 (68,479) Th¢ above figures include int¢r-eompany trans&c¢ions which are elimin*d on consolidation. Othu tradin8 income #nd expendi￿re relateg to unr¢stricted fimds in the ¢utrent and prior y¢ar. 29 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 Au ust 2022 3(¢) OTHER TIIADING fNcoME AND EXPENDITURE (eonilKued) The Calne Fowjdalton Trusl (Charitypwmbgr.. IJ47327/Compony number." 08049046) The School controls Th¢ Caln¢ Foundation Trust. whose principal activity is the promotion of the ¢lwitable purpose5 of St. Mary's School (Calne). The registered address of The Calne Foundation Trust is the same as the SchoDI. The results of The Calne Foundation Trust extracted from its audited accounts for the year ended 31 August 2022 and 31 August 2021 are shown below. 2022 2021 tNCOME FROM.. Donations Investment income 390,342 15.326 504,711 14,472 Tot21 In￿Me 405.668 519,183 EXPENDITURE FROM.. Charitable activities (205,792) {773,619} Total expendifyre (205.792) (773.619) TOTAL 199,876 (2%,436) Gains on investments (88.399) 125,491 NET {EXPENDITUBEY￿CoME 111.477 (128.945) NET MOVEMENT IN FUNDS FOR THE YEAR 111.477 (128,945) Futhd balances at stsrt of y¢ar 1319,670 2,448,615 Fund balantts at end of year 2,431.147 2,319.670 30 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (con¢inued) for the year ended 31 August 2022 NET EXPENDfTuBE The n¢t ¢xpendibJre for the year ￿ stated after char8ingl(cr¢ditingl'. 2022 2021 Charitable actiYitl¢S ¢Kpenditure includes: Operating l¢ase ¢haTges Bad debt expense D¢preeiation of tangible flxed assets Amortisation of u)tangible assets .533 5,347 lJ17,318 3550 22.273 2.963 1,049204 3,586 Auditor's r¢muneratLOn.' RSM UK Audit LLP- audit of the Group and parent charity RSM UK Audit LLP- audit of the subsidiary compoDie5 RSM tJK Audit LLP- other 8ssuran¢e RSM UK Tax and A¢¢ouDtin8 Limited- tsxation fees RSM UK Tax and Ar¢ounting Limi*d- other serviees 16,475 7250 1200 3,450 24,315 17.450 5,500 1,500 3,450 21298 Totsl Group and Chsrity stsff costs tomprlsed: Wages artd salaries Social security Costs P¢nsion contributions ,544,786 809589 1,348.996 8J68,086 755,718 l J64,445 10.703J71 10,488,249 No emolumenty remuneration or pen5ion5 w¢r¢ paid or are payable to th¢ Governors forthis year orthc previous y¢ar. Expenses incurred in att¢Dding meetings ar4 in some instances, wimbursed. Dwin8 theyear. the expenses incu￿ed amounted to £6,243 (2021.. £4,944 10 6 governors) to 4 8overnors. Th¢ average monthly number of persons (including Governors) employed during the y¢8rwas.' Full Time Equivalents 2022 2021 No. Headr 2022 No. 2021 Te8ehing and support Dotncstic Administration Tradin8 subsidi 130 85 32 20 137 74 37 19 202 132 38 61 204 113 47 54 267 267 433 418 The number of cmployees whose employ¢e benefits {¢xcluding employer pension costs and employ¢r national insurance ¢ontrIb￿li0nS) ex¢eeded £60,000 was- 2022 2021 No. £60,001- £70.000 £70,001- £80,000 £80.001- £90,000 £ioo.001 £1 10,000 £160,001- £170,000 £170,¢)01- £180,000 Pension contributions in re$pe¢t of th¢ above higher paid employees were £144.325 (2021.. £136.106). 31 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the ear ended 31 August 2022 ANALYSIS OF EXPENDITURE Depreciation Other costs & amortisation Tot?1 2022 Totsl 2021 Staff costs Raising funds". Trading expendibJr¢ InÈertst 563.732 313,268 111,334 21.808 898,808 111,334 730.209 58212 Tothl 563,732 424,602 21,808 1,010.142 788.421 CharitAbk activities: Teaching Welfar¢ Premises Support Costs of school S¢hool operd¢ing costs 6,898,035 1,616,247 408,881 1.216.476 689,883 1,112,545 1.396.480 661.075 257,467 204,502 837,091 7,845.385 2.933,294 2,642.452 1,877,551 15,298,682 16,308,824 8,160.512 2,333,786 2,663.l21 1,506.054 14,663.473 15,451.894 10.139.639 3,859.983 4,284,585 1299,060 1.320,868 10.703J71 Of the above expenditure £15.048.205 {2021.. £15.209,089) relates to unrestricted funds and £250.47712021.. £242,805) relate5 to restricted funds. ANALYSIS OF SUPPORT COSTS Educational op¢ration5 2022 Anci118ry trading 2022 Wider ¢¢)mmunity Govemanee 2022 2022 Marketing 2022 Totsl 2022 T(rtal 2021 Staff costs Admin and offi¢e costs Sto¢k wrchases Trustee expenses Audit and accountancy 887,108 244,116 173.865 21,022 155,503 211.539 1.216.476 476,987 914,175 462,916 310 105,705 105,705 6243 72,140 94.158 4.944 29,862 6.243 72,140 1.131,224 300,592 367,042 310 78,383 1,877,551 1.506,055 Govemance costs are associated with the strate8ic a50pposed to daY-t￿daY managementofthe khool's aclivities and include eosts itl relation to as5i3ting the Governors with p¢rfornJing their Tesponstbilities. 32 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOLtNTS (continued) for th¢ year ended 31 August 2022 INTANGIBLE FIXED ASSETS- GROUP AND SCHOOL Website and brgmd At I Sept¢mber 202I 65,198 At 31 August 2022 65,198 Amortisation At I September 2021 Charge 58fj85 3550 At 31 August 2022 62235 Net book value At 31 August 2022 2.963 At 31 August 2021 6,513 The intangible Rssets relate to pur¢hwd website development artd brand refresh. The amorti5ation is shown within charitsbl¢ aclivities in the Statement of Finlrtoial Activities. 8{a) TANGIBLE FIXED ASSETS- GROUP Assets sn the FTeehold18nd course of and buildings construction Furnilure. rLttin8s and equipment Minibuses Totsl At I Septemb¢r 2021 AdditiODS Disposa15 Trartsf¢r 32,478,546 66.420 928,664 537.102 6,096,769 72,678 {10.410) 31.668 139,981 39,613,960 676,200 (10.410) 813,929 33,358,895 1845,597) 620,169 Ai 31 August 2022 6.190.705 139,981 40J09,750 Depreciation At I September 2021 Charge Impaim¢nt105ses Disposals At 31 August 2022 4,183.756 1,021.643 5,197,243 289,086 113,518 6.589 9,494,517 lJ17,318 157.499 110.4lOI 10,958.924 157.499 (10,410) 5,475,919 5,205,399 157.499 120,107 Net book valwe At 31 August 2022 28.153.496 462.670 714,786 19,874 29J50.826 At 31 August 2021 28294,790 928.664 899.526 26,463 30,149.443 33 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (con¢inued) for the ear ended 31 August 2022 8(b) TANGIBLE FIXED ASSETS- SCHOOL Assets in the Fumiture. ¢ourse of fittings and construction equiptnetrt FTe¢hold land and buildings Minibuses Totsl Cost At I September 2021 Additions Disposals Tra]]sfer 32,478.546 66.420 928,664 537,102 5.853,504 72,678 (10,410) 31.668 139,981 39,400,695 676,200 (10,4101 813.929 {845,5971 620,169 At 31 Au8USt 2022 33,358.895 5,947,440 139,981 40.066.485 Depreciation At I September 2021 Charge Impairm¢nt lo55¢5 Disposals At 31 August 2022 4.183.756 1,021.643 5.013,522 267,284 113,518 6,589 9.310,796 1,295.516 157,499 (10.4101 10.753.401 157.499 (10.410) 5,205.399 157.499 5,270,396 120,107 Nct book value At 31 August 2022 28.153,496 462,670 677.044 19,874 29,313,084 At 31 August 2021 28,294,790 928,664 839.982 26,463 30,089.899 INVESTMENT PROPERTY- GROUP 2022 Valuation at I S¢ptemb¢r 2021 Additions 302.313 302JI3 Valuation at 31 Au8USt 2022 Investment pioperty comprises a residential property in the subsidiary. The Calne Foundation Trnst. Th¢ property was purchased on 26 July 2022 for £302,313. which in the opinion of the trustees is the tnarket V￿￿e as at 31 August 2022. Th¢ school ha5 no investment Properties. 34 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2022 10 ￿vES￿(￿NTs Group School 2022 2021 2022 2021 Fixed asset inv¢stm¢nts (note I l{a)I Investment in subsidiarie5 1,397.910 1,496.802 213232 225,493 1,397,910 1,496,802 213233 225.494 SubyidlAry vndert9kings Al 31 August 2022 the School held IOIPA of th¢ allotted share ¢apttal of SL Mary's School (Cajne) Serviccs Limited incotporated in England and Wales, which i5 involved in the letting of facilities. The assets and liabilities of St. Mary's School (Calne) Servic¢5 Limited (r¢gistered number.. 04111368) are: 2022 2D21 Tangible fixed assets Current assets 37,742 48,866 59,545 44J75 86.608 103,920 Credit￿5.. amounts falling due within one year Cr¢ditots.' amounts falling thae within one year (due to par¢iJt Charity) (124,346) (138,734) 19,631) Net ￿Sets (37,738) 144,445) Represented by.. Share capital Profit and loss account (37.7391 (44,446) (37.738) (44,445) The &8sets and liabilities of The Calne Foundation Trust (charity number. 1147327) ate.. 2022 Investment p￿pertY Fixed asset investments Current &55ets 302,313 1,184.678 944.156 1271J09 1,048J61 Net assets 1431.147 2.319,670 Represented by.. Endowment funds Re5tri¢ted funds Unrestricted fvnds 7,874 2,406,348 1fi925 2.289201 20,505 1431.147 2J19,670 35 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (conlinued) for the year ended 31 August 2022 I l{a) FIXED ASSET fNvESTMENTS. GROUP Unrestricted Funds Restricted Endowment Funds Futhds Total Funds Valuation at I SeNember 2021 Additions Dk5posals Loss on investments 159.700 14,615 116,698) (12262) 1270.510 66592 10.774 1,496.802 25,389 123.6201 1100,6611 16,922) {86,309) (2,090) Valuation at 31 Augusi 2022 145J55 1,177,279 75,276 1,397,910 The value of the group investment portfolio analysed by invesknent holdin8$ Is as follows.. 2022 2021 Fixed interest UK equities North AmericaD equities Europeatt equitics Japanese equities Asia pacific ex Japartl EM equities Global equities Alternative investments Commoditie5 Cash and cash dtematives Church of England Investment Fund 105 J75 139,082 385,234 66,762 20,669 85J99 58,695 165.860 65,098 92,504 213232 109,622 141,537 383.345 78.459 44.882 113.625 117,173 114,689 53,303 114.674 225.493 l J97.910 1,496,802 I l(blFIXED ASSET tNVESTMENTS- SCH(X)L Unrestricted Futlds Re$iri¢ted Endowment Fund5 Funds Total Fund5 Valuation at I September 2021 Losg on investhneThts 157.617 (12,262) 67,877 225.494 (12.262) Valuation at 31 August 2022 145 J55 67.877 213.232 Fixed &85et investments relate to the CBF Chur¢h of Eltgland Investment Fund in the School. Other listed inv¢stments are managed by Jam¢s Hambn) and Partners. The investments held in a portfolio designed to meet the Governors investsnent policy to maintain a ￿5(￿able balance bth¢en in¢om¢ #Dd c4pitsI growth. 12 STOCKS Gr0￿p School 2022 2021 2022 2021 Goods for tesale 111.035 100.658 108,015 99,224 36 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 Au ust 2022 13 DEBTORS Group SctK4)1 2022 2021 2022 2021 School fee$ Prepayments aDd accrued incorn¢ Other debtors Amount5 owed from Group undertakings 41.900 829J77 10,810 189.351 500,380 71,122 41.900 472.289 189,351 154,008 78.728 9.631 882.087 760.853 517.791 43 1.718 14 CBEDITORS.. AMOUNfs FALLING DUE IN ONE YEAR Group S¢hool 20 2021 2022 2021 Fees received in advan¢¢ VAT payable Other tsx and social security Pension creditor Other creditors Accruals and deferred ineom¢ Financ6 l¢•se Amounts owed to Group undertakings 734,221 2.638 200.716 157,052 578,022 2.018,515 1,101,533 .355 194,470 151,726 792,851 ,275.176 5.330 734,221 I,IOlJ33 6.792 187.803 148,730 705,264 1265,785 5.330 691 194.040 153,586 478,456 1006.515 3,691,164 293.153 3,529.441 940.306 3,566,818 293,153 3,421.928 940.306 Bank loans (n￿e 16) 3,984.317 4,469.747 3,859.971 4362,234 Included in ac¢ruals and deferred incom¢ 15 deferred income of £1,837,118 {2021.. £750,687). Fe¢s iee¢ived in advance also ¢onsidered to be d¢fered ineom¢. This relates to income r¢c¢ived in advance to be used against futsr¢ Sehool fees. The movement in the short tern) d¢ferred inwme for the S¢hool a￿j GrowTr is an#lyscd below. Fees i Advznee 2021 AdvaDce 2022 As at I September Incr¢ase ID the year Releosed in the year 1,101533 986,463 734221 1.101,533 (1.101,533) (986,4631 As at 31 August 734221 I,ROl.533 37 St. Mary's School (CaIne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the ear ended 31 August 2022 15 CREDITORS.. AMOUNTS FALLING DUE AFTBR MORE TIIAN ONE YEAR Group School 2022 2021 2022 2021 Fees rcceiv¢d in advance Other creaitors Bank loan 1.370,810 ,381,676 2.270,271 1.213.870 1,314.412 2.490.160 .370,810 ,381,676 2,270,271 1,213.870 lJ14.412 2,490.160 5,018,442 5,022,757 5.018,442 5,022,757 Fees receiv¢d in advance relates to tncome reGeiYed in advatlceto be used a8aitk5t fubjre Sch￿1 fee5. Thcmovemetht in this balance for the School and Group is analysed below. Fees in Advance 2022 Ftt5 in AdvatL¢e 2021 As at I September Increase in the year Released in the year 1.213.870 1,370,810 (1213.870) 955.400 (952,696) As at 31 August 1,370,810 1,213.870 16 BORIiOWINGS Group S¢k#)ol 2022 2021 2022 2021 Bank loatks 2.563,424 3.430,466 2,563,424 3.430,466 2,563,424 3,430,466 1563,424 3,430,466 Payable in one year Payable after one year 293.153 2,270,271 2.563,424 940,306 2,490,160 3.430,466 293,153 2270.271 2,563,424 940.306 2,490,160 3,430,466 Of the amounts payable afttrone year£343.302 (2021.. £371472) É$ payable after fiv¢ years. Th¢ bank ovetdrafi and loans are secured by a fixed eharge over all present freehold aT￿ let8ehold property. a first fixed charge over book and other debw chatt¢l& goodwill and uncalled e4pital, both pr&sent and futsjre. athd a f floating thar8¢ over all assets and uThdertakitL8S both presentand fulure. The bank loans are denominated and repaid in sterling. have contractual interest rat¢5 that are variable rAtes linked to LtBOR. that are not lev¢raged. and do not Gontain conditional return5 or rq>ayment provisions other than to protect the lender against credit deterioration orchanges in relevant l¢gislation. 38 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (¢onliMued) for the year ended 31 August 2022 17 FINANCIAL fNsTRUMEKtS Gn)up School 2022 2021 2022 2021 Carrying amount of fin8ncit41 assets.. Equity instrum¢nts measured at fair v￿u¢ 1.397,910 1,496.802 213,232 225,493 ui tntments Equity instruments that are listed on a regulated stock exchange ar¢ M￿￿red at fairva]ue using observablemarket inputs. The inputs used in valuing the instr7Jments include indexes provided by th¢se regulated markets. 18 NET ASSETS OF THE FUNDS OF CHARITY AND GROUP The Group's rtet assets belon8 to the various fund5 &8 ft>llows: Fixed assets and investments Current assets Liabilities Endowment Fllnds {note 19} Restricted Funds (note 20) Unrestrictsd Funds (not¢ 21) Sthool 64.031 7.335,746 22,129,503 29J29,280 64,D31 240.775 7.576,521 2,886,418 (8.882.728) 16.133.193 3,127,193 (8.882.n8) 23.773,745 Subsidiari¢s' reserves (Endowed Funds) SubSLdiaries' reserves (Restrict¢d Funds) Sub5idiwi¢s' r¢s¢rv¢s Iunresirictrd Fund5) Growp 7,399 .479,591 37.742 475 927.208 65,339 4,120215 7,874 2.406,799 (124,346) (21265) (9.007,074) 26.167,153 31,054.012 2021 COMPARATIVE FIGUBES Fix¢d assets and investments Cyrrent 4ssets Liabiliti&s Total Endowmefit Funds Restri¢t¢d Fund5 Unrestricted Funds 64.031 7,585.590 21672.284 30.321,905 64,031 7,629,¥X)7 16.002,999 44.317 2.711,391 1755,708 (9.380,676) (9,380,676) 23.696,937 School Sub$tdtaries' reserve$ Oiestri¢t¢d Funds) Sub5idiaries' r¢s¢rYes (Endowed Funds) SubsidiaTi¢S' reserves (Unrestri¢ted Furtds) Group 1,261,820 9.489 59,544 31,652,758 1.027,381 475 24.028 2.289201 9964 (23.941) (107.513) (9,488.189) 25,972,161 3.807 592 39 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOLfNTS (conlinued) for the year ended 31 August 2022 19 ENDOWMENT Fu￿DS. MOVEMENTS IN THE YEAR Group Balance at I Sept 2021 Transfers and outgoing resources Balanc¢ at 31 August 2022 Investment gainl(loss) S¢holar5hip Fund Priz¢ Fund 60,050 13.945 {1090) 57,960 13,945 73.995 (1090) 71,905 Sehool Balance at Sept 2021 Tran5fer5 and outgoing resourc¢5 Beion¢e at 31 August 2022 Investment gain Scholarship FutKI Prize Fund 60,505 3,526 60,505 3.526 64,031 64.031 The S¢hol8Tship Fund is inv¢sted in shares in the Central Board of Fbnan¢¢ Investment Fund. the income of whith is tsken to restri¢ted funds and used as a coniribution towards the cost of scholarships. The Prize Funds are invested in shares in the Centrdl Board of Finatkce Investtll¢rti Fund aDd cash held getlerdlly, the incotne of which is taken to 8eneral fund5 a￿￿ used a5 a contribution toward5 th¢ costs of prizes awarded. 2021 COMPARATtVE FIGURES- ENDOWMENT FUNDS Group Balance at I Sept 2020 Transf¢TS end outgoing resources Balance at 31 Au8USt 2021 Inveslment gain Scholarship FuThd Prize Fund 46.971 13,945 13.079 60.050 13.945 60,916 13.079 73,995 School B￿aTree at I Sept 2020 Transfers and Balanc¢ al outgoing 31 Augus¢ 2021 Investment gain Scholarship Fund Priz¢ Fund 50J75 3.526 10.130 60,505 3.526 53.901 10,130 64,03l 40 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE AccoifNTS (continued) for th¢ year ended 31 August 2022 20(a) RESTRICIED FUNDS.. MOVEMENTS IN THE YBAR. GROUP Balance at I September 2021 Balance at 31 August 2022 Transfers and Expenditure gainsl(1055es) Income Fowidation App¢al Headmistresses Old Girls Association Music Department Donations St. Mary's Charity Fund St Margaret's Charity Fund Chapel Fund St MaTgar¢t's Eco Projecl Sports Fund St. Mary's Library New Bursary Fund Amied Forces Fund Capital Projects Fund Prizes PGSM STEM Events Other restri¢ted ￿Thd5 5,551 5,551 2085 1.728 6.896 1,290 4,758 1.053 2J07,573 4.889,665 2.124,490 151 324,873 1085 1.728 fi896 1,290 206,910 1,tt53 2,261,421 4,755.702 2,095.667 204.000 (1.848) {46,152) (133,963) {35,454) 92,940 (86.309) 9,508 1.469 {18.974) {IJ03) 315,407 550 4,229 175,175 1,798 147707 4.229 173,675 1.500 14,581 77,000 400,998 (11783) 70,707 9,919,108 Total (250.477) (86,309) 9,983J20 20(b) RESTrIC]ED FUNDS.. MOVEMENTS fN THE YEAR. scH￿L Balance at I September 2021 Balanct 8t31 August 2022 Transfers and Expendi￿1¢ gain51{losses) IncL)me Foundation Appeal Headmistresses Old Gir15 Association Music Departsnent Donations St. Mary'5 Charity Fund St Margaret's Charity Fund Chapel Fund St Margar¢t's Eco Proieet Prizes Sports Fund St. Mary's Librory STEM PGSM Capitsl Projects Fund New Bursary Fund Eve1￿ fvnd Equipment Futkd Other r¢stricted funds 5J51 5J51 2,085 1,728 6.897 1290 4.758 1.053 534 2J73.661 4.907,665 132.605 4,229 32,417 12,764 2,D85 1,728 6,897 1,290 4,758 1,153 534 2.327,509 4,773,702 131605 4,229 159,146 11764 (46.152) (133,9631 144,533 (17.804) 420 142.250 7.629,907 420 142250 Total 144,533 (197,919) 7.576,521 41 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOLfNTS (contipn4ed) for the year ended 31 August 2022 20{b) RESTRicfED FLfNDS: MOVEMBNTS fN THE YEAR- SCHOOL {continu¢d) CJam Music Prize Fund The C James Music Prize Fund is cash io be tnve5ted in shares, the income of which will be restricted and used as a contribution towards the ¢ost of prizes awarded. The SpK>rts Fund {previ¢)usly kTwwn as the Sports Hall Fund) relate5 to donations ￿ceIVed for various sport capitsl projects and is r¢l¢ased in line with exp¢ndi¢ur¢. urs The New Bursary Fund relates to donations for specifi¢ iwrsaries. Thi5 year bursaries were paid out for the Matthews Bursary, Music Bursary and the Springboard Bursary. Amied Fo fund The Anned Forces Fund relates to donations ttF support the edUc￿lon of childr¢n who have * p8reRC of any ranL killed or wounded in a¢tive service. ital Pro ects fvnd The Capitsl Projects Fund relates to various ongoing school Klated eapitsl projects. The majority of the income this year15 tn r¢lation to the Lim¢ Ki]n GaTdeD. Donations were alsoreceived forthe ¢limbingwall, 8rt blockand performing arts. 'sLi nd The Library Fund relate5 to donations reeeived for the purpos¢ of building a new library athj is released in line with valuation report5 Submitted by the project manager. STEM Centre fun The STEM Centre Fund relate5 to donation$ ￿1Ved for the Purpose of building a new STEM Centr& This is very much in its infartcy and expendithre relates to design development. Events fund The events ￿nd 15 used for events held by the wholly owned subsidiary undertakirtg, Thecalne Foundation Trusi 8nd usually includes tid(et costs. cte Other restricted funds Telates to amounts received tts be used for spe¢ifi¢ purposes. 42 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOiTNTS (continued) for the year ended 31 August 2022 20{b) RESTRICTED FUNDS.. MOVEMENrs tN THE YEAR- SCHOOL (continued) 2021 COMPABATIVE FIGURES- RESTRicfED FUNDS GROUP B￿ance * I September 2020 Balancx at 31 August 2021 Transf¢TS and Expenditure 8aitLsI(losses) Income Foundation Appeal Headrnistresses Old Gir15 Association Music Department Dollations St. Mary's Charity Fund Si Margore¢'s ChgTity Frtnd Chapel Fund St Margaret's Project Sports Fund St. Mary's Library New Bu￿ary Fund Amied Forces Fund Capita] Projects Fund 5,551 5,551 2,085 1.728 6.896 1290 4,758 1,053 2J50.667 4,804.393 1.890,504 ioi 190.710 534 4.229 172.625 86,809 9,523.933 2.085 1,728 6.896 1290 4,758 1,053 2,307573 4.889ffj65 2.124.490 574 1,285 1574) (1,285) {43,094} 1133,960) (22.633) 219232 136.098 50 156,597 50 120,521 {22.434) {200) 324,873 384 4129 173,675 70,707 PGSM 1.050 502 Oth¢r restricted funds {18,625) (242,805) 2,021 122,542 Totsl 515,438 9.919,108 2021 COfvtPARATIVE FIGURES- RESTiucrtVE FiJNDS SCHOOL Balance at I S¢ptember 2020 Balanc¢ ai31 August Transfers ot)d Expenditure 8ainsl{lossesl In¢ome Foundation Appeal H¢admistresses Old Girls Asswiatton Music D¢partment Donations St. Mary's Charity Fund St Margaret's Charity Fund Chapel Fund St Mar8aret's Eco Proj¢¢t Prizes SkK)rts Fund St. Mary's Libr¥ry STEM PGSM Capital Projec4s Fund New Bursary Fund Equipment Fwld Other restrtcted ￿ndS 5JSI 5,551 2,085 1,728 6,897 1290 4,758 1.053 534 2,379,884 4.414.717 132,605 4,229 20,000 12,764 420 117.250 2,085 1,728 6,897 1290 4,758 1,053 534 2.373,661 4,907,665 131605 4229 32,417 11764 420 142250 574 1285 {574) (1,285) 200 36.871 626.908 (2001 143,094) (133.960) 34,851 8.760 (21434) 18,760) 57,498 (31498) (242,805) Total 7,105.765 766,947 7.629,9D7 43 St. Mary's School (Calne) (a company lirnited by guarantee) NOTES TO THE ACCOLfNTS (continued) for the year ended 31 August 2022 21 UNRESTRIcfED FUNDS.. MOVEMENfs IN THE YEAR Unrestricted Revaluation ds resetve Total Group Balance at start of year Retain¢d surplus for the year Transfers and losses 15J55,070 145,132 112,262) 15.487,940 623.988 15,979,058 145,132 (12,262) 16.111.928 623,988 Unrestricted Revaluation funds reserv¢ Totsl School Baian¢e at start of year Retained surplu5 for the year Trdnsfers and105ses 15.379.011 142.456 (12,262) 15,509,205 623,988 16,001999 142.456 (12,262) 16,133,193 623.988 2021 COMPAL4TIVE FIGURES- UNRESTrJCTED FUNDS Unrestricted Revaluation fijnds serve Total 2021 Group Balance at stsrt of year Retained surplu5 ftsr the year Transfers and gains 15,108 J77 221,086 25,607 15 J55,070 623.988 15,732J65 221,086 25,607 15,979.058 623.988 Unr¢str¢¢ted Rev81uation funds reservc Total 202l School Balance ai start of year Retained surplus forihe year Transfers and gains 15.060.9I I 292,493 25,607 623.988 15,684,899 292.493 25.607 16,002.999 15.379.011 623,988 Unrestricted funds T¢lat¢ to donations and ittvegtment income which can be used for the gen¢Tal put]xise of the Oroup. St. Mary's School (Calne) (a company limited by guaran￿e) NOTES TO THE AccouNfs {continuÉd) for the year ended 31 Au ust 2022 22 BECONCILIATION OF GROUP NET INCOME TO NET CASH INFLOW FROM GROUP OPEL4TIONS 2022 2021 Net tncome NoD-operatiDg cashflows eliminated.. Investment income Financing costs D¢preciation and impainnent Amortisation Loss on disp05al of fixed assets Lossesl(gains) gn investments Oncrcaseydecrease in Stock (Increaseyd￿rt￿ in d¢btors In￿ease1(deCrcdseI in creditors 194,992 654,947 {25,177) 111,334 1.474,817 3,550 (20J85) 58,212 1,049,203 3,586 14,723 (161.229) 14,500 67,691 (701773) 100.661 (10.377) 1121234) 391257 Net eAsh Innow from Grn￿p operations 2.119.823 978.475 23 ANALYSIS OF CHANGES IN NBT DEBT At start of the year Other non. Cash-flows cash chang¢5 Atend of theyear C25h 2,946,081 181.012 3.127.093 2,946,081 181.012 3.127,093 Loans falling du¢ within one year Lo8ns fallin8 due after more than one year (940,3061 (2,490.1611 647,153 219,890 (293,153) (2.270271> Fittanc¢ luse obligatiotts (5,3301 5J30 (489,716) 1,053J85 563fj69 24 PENSION SCHEME- TEACFIING STAFF The School participate5 in the T¢achers' Pension Scheme (Englathd and Wale5} {"the IPS'I for its tea¢hing staff. The pensiott ¢harge for the year includes contributions payable to the TPS of£l,123.192 {2021.. £1,054.359) and at Ihe year-end £121,341 (2021.. £118,988) was a(c￿ed in r¢spxt of contributions to this s¢h¢me. The ￿h0o1 operntes a defined contribution pensionstheme for non-t¢achin8Staff. Theassets ofthe 5¢hem¢are held in an entity separate to the School. The pension d)ar8e for thr year includes contributions p&yabl¢ to the ￿nd of £225.80412021.. £310,086) and atthe year end ¢ontributions totalling £35,711 (2021: £32,738) w¢r¢ payAble to the fjJnd and are included in creditors. 45 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (contin74ed) for the year ended 31 Au st 2022 25 FINANCIAL COMMITMENTS At 31 August2022 the totsl of the Group's fubjre minimum le&8e payments under nonth¢an¢ellable opernting I￿e$ was.. 2022 2021 Within one year lJ33 .533 26 RELATED PARTY TrANSACTIONS maTh nt ersonnel The key management Personnel of the School atld Group is as follows.. the Heads of both schoo15' lh¢ Bursar: the Development Director. the Senior Deputy Head, Deputy Head Academic and Deputy H¢ad P&storal at St. Mary, and the Dcputy Head Academio Deputy Head Pastoral at St Margaret's 2nd the Governors. The total amount of employee benefits (includiTh8 employer pension contributions and employers. Nl) received by key nwjagement personn¢l for their setvices to the Group were £1.020.40112021.. £1,005.1711. Trnnsactio th related arties During the year the School rectived dO[￿tionS of £144,533 (2021: £773,619) from the wholly owned subsidiary undertaking. The Calne Foundation Trust (CFf). The CFT received £nil12021= £522) from the School. At the balance sheet date the School owed the CFT £rtil (2021.. £691). During the year the School rec¢iv¢d inwme of f25.000 (2021= £25,000) from th¢ wholly owned subsidiary UTwlertaking. St. Mary's School (Calne) Setvices Limited. and made purchase5 of £249,747 (2021.. £250.375). At the balance sheet date the subsidiary owed the School £nil (2021.. the School owed the subsidiary £9,631). D¢)nations and pledges totalling £390.342 were reeeived in the year, of which £5129012021.. £4.9331 were rnade to th¢ Foundation by Trusiees and their spouse5. Duritlg the year the Sch￿1 made pur¢hases of £1,151 (2021.. £874) from Adde & Co Limited. an entity ￿ntrOlled by a Trustee. The balance outstsnding at thr year end was £nil (31 August 2021.. £nill.