St. Mary's School (Calne) (a company limited by guarantee) GOVERNORS, REPORT AND CONSOLIDATED ACCOUNTS for the year ended 31 August 2023 Registered Charity NumbeT309482 Company Registration Number 00235572 St. Mary, s School (Calne) (a company limited by guarantee) CONTENTS PAGE Governors and Advisers Annual Report of the Governors 2-16 Independent Auditor's retM)rt 17-20 Consolidated Statement of Financial Activities including It)com¢ and Expenditure Account 21 Balance Sheets 22 Consolidated St￿e[nent of Cash Flow5 23 Notes to the Accounts 24-47 St. Mary, s School (Calne) (a company limited by guarantee) GOVERNORS AND ADVISERS GOVERNORS AND CHARITY TRUSTEES The St Mary's School (Calnel Govemors are the Charity Trustees of the Schth)l. The following Governors setved throughoui the year ending 31 August 2023 and up ￿ dat¢ of approval.. Mr Svante Add¢ Ichairl Mrs Vicky Wilson (Vi¢¢ Chair} Ms Catherine Bell MT Robert Cutler Deborah Harris (Chair gf the Education Committee) Mr Martin Hartis The Revd Canon Michael Johnson Mrs Pamela Morri5-Sykes {Chair of the Finance & General Purposes Committ¢el m￿ Patricia Pcarce (Chair of the St Margaret's Committee) Member of the Finan¢e and General Purposes Commill¢e Metnber of the Edycaiion Committee M¢mber of the St Margaret's Committee Governor with special responsibility for Safeguardin8 Tht Governor5 are elected by existl118 members and subject to re-¢lertion after four yeaTS. The following Senior staff allend all meetin8s of the Governing Body at)d its committee5 and are the key man8gtment pe￿Onnel of the charity.. Head, St Mary's School DT Felicia Kirk (Resigned 31 Augusi 2023) Acting Head, St Mary's Sch¢xTrl MT5 Diana Hairison (Appointed I September 2023) H¢admaster, St Margaret's Preparatory Sch￿[ Mr Luke Bromwich InteTim Bursar, Clerk to the Governors and Company Sccretary Mr Ed HelliTh8s (Appointed l April 20231 Regi¥tered Office: St Mary's School 63 Curzon St CalThe Wiltshir< SNI I ODF Websrie.. .stm scalne.or aTets ADVISERS: Bankers HSBC Bank Ple Chippenham Commercial Centre 2 Market Place Chippenham Wiltshire SN15 3HE Solicitors Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BSI 4QA Auditors RSM UK Audit LLP David50n House Forbury Square Rcading Berkshire RGI 3EU St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 The Governors of Si Mary's School (Calnel (the Charity), incorporating St Margaret'5 Preparatory School, present their Annual Reptsrt for the year ended 31 August 2023, together with the audited consolidated finon¢ial statements for the year, in accordance with the Cotnpanies A¢t 2006, the Charitie5 Act 2011. the A¢covnting and Reporting by Charities Statement of Re¢oTnmeThded Pra¢iice (Charilies SORPI, and the Finan¢ial Reporting Stattdard applicable in the UK and Republic of Ireland IFRS 1021. REFERENCE AND ADMINisfRATIVE INFORMATION The School was founded in 1873 and incorporated as a Company Limited by Guarantee in 1928 l¢ompany number 002355721. It is registered with the Charity Commission Icharicy number 309482}. The Governors, exe¢lltive offi¢ers, regisiered otTice and prof¢s5ional advisers are shown on page l. srRUCTURE, GOVERNAP4CE AND MANAGEMENT Gover￿1￿8 D&cumÉlli The Charity is governed by its Memordndllm and Articles of Association dating from 1928 and last Amended in 2008. Governillg Body There is one Governing Body for both St Mary'5 School and St Margard's Preparatory School. The governors act as tnjstees for charitable activities of St Mary's S¢hool Calne and are also directors for the purposes of company law. Recriiilmeni TratNing of Governors Governors are elected by the GoveTnitLg Body on the basis of qualifications, experience and recommendations from within ihe ￿h0o1 comtnunity. New Governor5 are inducted into tlie workings of the Chariiy at bri¢fings c()ndu¢ied by the Heads. the Bursar and other Senior staff. Governors are also provided with opponunities to attend training progrdmmes and ctsnfeTences on gov¢rnance and educational issues, and are regularly updated on matter5 relating to th¢ir legal and statutory obligatioThs. Orguttisational Momugement Th¢ Governing Body meets each ierni, as do the Si MargaTe¢'s and Finance & General Purp05¢5 {F&GP} Cotntnit(ees. The Education Committee meets in the Auiumn and Spring Terms only. Committee rneetings are normally held in advance of the main Board meeting, so that relevant reports can be made and appropriate decisions taken. The operational managctntnt of the schools is delegated by Governors to tlie Heads, supJx)rted by their ttspeciive Senior Leadership Teams (SLT}. The Bursar and the Director of External Relations are members of ihe SLT at each school. The Head5, Bursar and Director of Extemal Relations Tn¢et together regularly as the Executive Leadership Team IELTI, led by Mrs Diana Ha￿lSon, the A¢ting Head of St Mary's. Both Heads atteTrd all meeiings of the Governing Body and the F&GP Committee. The Aciing Head of St Mary's attends meetings of the Education Cominitlee and the Head of St Margaret's attends meecings of the S¢ Margaret's Co¥ntnittee. As Clerk to the Governors, the Bursar attends all ffl¢etir285 of the Governing Body and its cOM￿ittee5 (except the Education Committee, unless required). Group Struclure andReloliDnship5 The Charity h&% a wholly owned non-charitsbl¢ subsidiary. St Mary's School (Calnel Services LÈiTilted. registered compatjy numbeT 04111368, whose activities and tradin8results ar¢ shown in tLOtes 3c and 10 to the Finan¢ial Statements. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear end¢d 31 ALE ust 2023 On 27 April 2012, The Calne Foundation Trust ICFT) was incOry￿rated as a company limited by guarantee land not having a share capital). registered ¢ompaDy number 08049046 and registered charity number 1147327. Th¢ princip&l objects of th¢ CFf are 'lo advance educa¢ion by ihe provision offunding, a55151(7￿Ce ondsupporl ¢0 St M￿Y s School. CalKe undsl Maig¢Jrei s Prepai'alory School, Calng, being fhe Coiysliluenl schools of ihe School Charily and by oiher associaled educaliollul a¢liviiiu (in sofar as ihey shall be chariiable) (SL7vefoi' purposes ifrKidenlal andancillary to ihose objecls). no otherpurposes. The finaiJ¢ial sthiements for St Mary's School (Calnel Services Limit¢d and the CFT for the period ended 31 Augusi 2023 have been consolidated within Ihese 8roup financial statemenis. The results of these entiiies ar¢ shown on note 3¢. Rlsk M&K4gemenl The GoveTnors maintsiD oversight of th¢ risks facing the Charity as an educational trustas well as the Schoolsasoperating ¢nLitie5. Major risks, in¢luding large scale building proje¢ts and debt man28ement. are ass¢ss¢d ond the systems and procedures designed to manage those risks are reviewed. Govemors are sat15fied that major cutTent and future risks have been identified, priorit15ed and appropriate mitigationlavoidance measures put in ploce. AppropTiate insurance cover, including Govemors, third-party indemnity insurance, is in place. The key internal coniiols to maTha8e and mitigate risks are: fomiol meetjn8 agendas and Te¢ords for 011 meetings of the Governing Body and its committtts. committee tenn5 of reference. regularly revi¢wed 2nd Upd￿ed. ongoing review of strategic and fsnan¢ial plans- monthly flnancial management and key metrics reportin& regular reviews of key poli¢i¢s', ¢l¢ar ollthori5ation and approved levels of expenditure,. regular appraisal of the Heads and Bursar, self.appTaisal of th¢ Governing Body.. and opportunities foT Gov¢mors and senior staff to receive reg￿lar updates on changrs to legal and operational frameworks. Th¢ principal risks currently facing ihe School can be separated inio ihose which are exclusively driven by external fa¢tOTS where the sch￿] can only mitigaie against the eff￿ts of the risk crysrollisin& and those items where the school has gieaier wn¢rol over thc occurrence of the risk. The prin¢ipal risk5 driven by external factors aTe'. the imposition of VAT on school fee5 and the loss of Mandatory Business Rate Relief. Labour Party ptslicy is actively monitored. We continue to exatnine and r¢du¢e ¢osts where appropriate in order to keep fee incre&8e5 as low a5 POS5ible without ¢ompromising the 9￿alIty of education and pastoral care offered a signifi¢anl fo11 in pupil number5 due to prolonged economic downtu¥n. Fee increases are set annually, wth a wide range of factors taken into account including parental affordability. future plans. and protecting the quality of the schools. Coinp¢iiior fees are taken itlto account only in so far itjfortnation is available publicly a further increase in the level of employ¢r contribution5 to the Teachers, Pension Scheme. Gov¢mors hav¢ recently launched a consultation with staff about thss issue prolonged high inflation resulting in intreased operating costs. Budgets are set ¢0 in¢lude anticipated in*]ation. Any prolonged period of high infletion will mean ft review of fees and further examinaiioTr of costs the effects of climate ¢h2nge and ihe costs of taking retn¢dial a¢iion. Governors have agreed io instal solar panels and we have a comprehensive survey for installin8 LED lights. Oth¢r actions are detailed on page 16. Costs for ihese investments. which will also ben¢fit the schools in terms of r¢du¢ed energy costs, are being bui into our medium t¢m planning St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 The principal risks overwhich the school has greater control are.. failure to gen¢rate a sufficient surplus. Budgets are set and results against budget 8r¢ monitored monthly. Governors review 5 year plans and rel8ted cash flow forec&sts on a rcgular basis, aiming to reduce financial risks and improve perfornanc¢ failure to attrd¢t and ret8in pupi15. Marketing is given a high priority and is re50urced accordingly. Our tdeniion rates have historically been good and we put continued focus on this area failure (o attracl and retain staff. Staff are offered cotnpetitive salaries as part of an attractive package. Ongoing training and career developmeni is also oftered OBJEcfs. AIMS. OBJECTIVES AND ACTIVITIES Ch4riifjble Objects The Charity's Objects, as expressed in the me￿OrandU[n of Association, are'io CL7rry rhe Schoolfor ihe educa110￿ ofgii'ls andyoung children ￿ day sL'holai's boardeF5. or as day seholai'.f only. iu accoi'dance Ivith ¢he principle.F of ihe ChiirGh of England its ppovide a sound religious edtsculion for ￿rIS und young children.. Accordingly. the Charity must managc its fJnan¢es, m2irEtain its premises and facilities to an appropriate standard, employ staff with suitsble qualifications and experiertct and fulfil its obligations as both a charity and a registered bllsiness. In accordanct with its Objects, the Charity PTovid¢s educ￿10n at its Calne campus for boys and girls aged 2-1 I (St Margaret's Prepardiory School} and girls ag¢d 11-18 (St Mary's School). Boarding facilities are provided at St Mary's School and will be extended to St Margaret's Pieparatory School during th¢ forthcoming year. Governors also seek to provide public benefit through the Schools. operativns, a5 detailed on pages 5 and 6 and within the Schools, operational Tew)rts below. StrtsiegicAim¥ & Objeclives Si Mary's School and St Margaret's Preparatory School together represent a Chrisiian Foutldation that welcomes pupils and staff from all faiths. St Mary's strategic aims are.. Ambitlon Deliver a tailored and specialised ¢urriculum th inspire a love of learning and enable our Students to achieve lop ¢las5 acadetnic results. Guide and support every student to challenge themselves and reach their full potential. PTepar¢ our students for higher edu¢ation, Careers. leadership, and the challenges of a f&5t-changing global world. Opportunity Deliver a breadth of academi¢ and co.curricular opportunities to meet each student's abrlity. needs and interests. Create opportunities for adventure, ¢xploraiion and discovery for all members of our community- Provide opportunities for girls from diverse backgrounds who would benefit from a St Mary's Calne education. Community Be a vibrant, warni, open and inclusive cotntnunity, where boarder5 and day students live with empathy and respe¢t. Encourdsc our students to become proactive. engaged eitizens who make a ￿51¢Eve difference to the world. Connect, ¢ollaborate and communicate with our dynamic. supportive and extensiv¢ alumnae neNork. Innovation Spearhead research and practice in adolescet)t development. Foster creativity in the arts 3nd sciences, encouraging freedom of thought and self-expTession. Etnbrac¢ new developments in technology to prepare our students for the fuiure. St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 St MargArei's overarching aim of 'lnspiring Ex¢ellen¢¢' seeks to ensure that earh pupil aspires to fulfil his or her potential. This is underpinned by four key pillars.. Igniting interests W.B. Yeat5 wrote that edu¢aiion is not the filling of B pail. but ¢he lighiit)g of a fjre. Wc wholeheartedly agree and as a rc5ult teaching ihToughoul ihe school is tailored to inspire each individual child, rs]eetillg his or her n¢eds with boih ¢lass and specialist subject teachers. supported by an extensive array of resources and technology. Children are encouraged to evaluate their own leaming and. with support. identify their next stCP5. Nurturing ithdlviduglity Our family-focused approach allows u5 to work with 'Porents as Partners, to tTuly understand each child and to ensuTe they feel understood. Yalued and secure. This helps us to nurture their individuality by encouraging n)eaningful relationships amongst peers, teachers and the wider school ¢omtnur5ity. Fost¢rlng exploration We Provide a trusted environment that enables our children to feel $￿Vre and ultI￿atelY have the nfidence to take risks. By encouraging positiv¢ rel￿10￿ships artd tÉme to reflect. we help th￿￿ understand that making mistakes is part of learning and developing. Rtaltsing potential We understsnd that every child is unique. We are committed to developing a culivre of leamin8 where pupils seek to be the best that they can be. By working together on an individual lev¢l, we inspsre our pupilsio make sure th¢y rEach their full potential. Our¢hildren leam to understand that sllccess requir¢s P¢T5everance, courage and integrity. By estoblishing a growth mindset. we Can ensure ¢oniinual improvement and the highest SI￿dardS of ¢xpectations and achievement for all. Objecylvesfortlie Yeur St Mary's objectives for the yearwere to.. Develop a more cohereni co-curri¢yl8r provision by extending ihe Donaldsott Award throughout ihe school R¢¢ruit a Director of CoQurri¢ular to ov¢rsee and coordinate the ¢nhan¢ed c0-¢U￿1CuIaT offer R¢vi¢w and enhanc¢ the Connected Teaching And Learning Strategy Enhance the eth05 of independent learning and research within ihe pupil body to build on the eurrent Success in Extended Project Qualifications and Independent Schools Examinations Board projects C¢lebrate the 150, anniversary of the school with a range of comtne]norative events Launch the Chrysalis ¢ampaign, through the Calne Foundation Trn5t. to provide more bursari￿ support to pllpils St Margaret's Objectives for the year were to: Coniirtue w grow th¢ number of pup51s across the whole school throu8h the continuoys ￿rinement of marketin8 and admissiotis It)Itiaiiv¢s D¢v¢lop our comM￿nity partnership programme, focusing ora Sport athd Perfomiing Art5, to build our profjle wi¢hin the locality Further develop the skills of middle leader5 to have a strotjger impact on the quality of tea¢hing and provision by defining role5 and Tesponsibililies, introducin8 peer obseTvation aDd feedback and formulating annual action planning across the school Furthet develop the te&chin8 of early reading by implementing our new phonics p¥ogramme Continue to improve pupils, personal developrtlent and well-bein8 through an initial audit of SEN and well- bein8 practlS¢S To Tefine and improve our communieation with parents tg build upon ihe good practice already in place acros5 the school To enhance our provision for our most able learning through the inirodu¢tion of the 'Learning P2thwty' initiativ¢ St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 Plonsfor rhefulure There are no plans to alter the Charity's Objects or the School$. strategic aitns. Governors are satisfied with current pro8ress, bui there will be continued emphasi5 on increasing pupil numbeT5 over the med￿uM ierni. Prillcipal &ctivihe$ olihe Year During the year Si Mary's Schwl averaged 347 pupils (2021-22.. 350) of whom 291 were boardeTS12021.22. 275). St Margaret's averaged 174 pupil$12021-22.. 166). Governors are pleased with the progr¢ss made b). both 5chool5. Publie Benefit The Governors are fully aware of the Schoo15' charitable and public ben¢fJl obligations, and confirm thai they have complied with the dury in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission, and in particularto its supplementary guidance on advancing education and on fee-charging, both with regard to the Te9uiremeni to provide public benefit and in discharging their responstbiliti¢s as trustees. As education prowtd¢rs, The Schools actively support and promtsi¢ the attatnment of the highest standards in the education sector. which includes the otJgoing dev¢lopment of curriculum., the development of high*uality teaching and residential fa¢ilities', and networking and resour¢¢ sharing with other schoDls as well as local and professional organisations. t)uring the calcndaryear 2022 we worked with 17 state s¢hwls and over 1,000 stud¢nts in maintained schools benefjtted from such a¢tLVlties. In particular we worked with Cherhill Pritnary School, Kingsbury Grten Academy and Sprin8fields A¢adetny. all in Calne. These figures are both up considerably on recent years. An c5timat¢d 1,759 staff hours were spetjt on planning and leading community and partnership activities or acting as a governor and 141 students were involved in volunteering. £20,047 was also raised for Charity during the ealendai year. This was particylarly high as additional and nplanned irtitiatives for Ukraine atld in tnemory of HRH Queen Elizabeth 11 took plac¢. This year we have had all LA)wer Sixth silldents (alongside 15 Upper Sixth) volunt¢erin8 in the commtsnily for ao hour 3 week. Of these, 23 ate plac¢d ai Springfields Academy. 5 visit elderly residents at Penn Court, 6 volurtteer at local NHS h05piials in Chippenham and Savemake (this involves a 2 hourpla¢etnenl for a minimum of 6 months following a fomial applicatioH, interview induction process) and the remainderof Lower Sixth are pla¢ed in & variety of primary schoo15 in the Callle Area in¢ludin8 Fynamore, Marden Vale, St Edtnunds. Cherhill and Heddington wherethey may be ¢18ssroom assistants, listen to reading or in some Cases lead specific projects such as a Cla5SIC5 or Languages Club. We attend the Calne Area Heads tneetings which plan future partnership proj¢crs. We nonnally seek to invite all of the local piimary schools in this cluster to participate. The fomiat of pmjects can vory Considerably from hour long ones such as the Chemistry Week workshop, to day.long workshops for example an Art and Lacmsse festival, as w¢ll as those whieh are ongoing such as Dance workshop5. OT the Major Mitjors lo¢al choir. Fvrtherdevelopmeni of these activities is ¢orEtinuing, with piojects incre8stngly being devised in collaboration with other schools. Impact evaluation is also b¢t•g planned foi future events. Both sCh￿]S ttlake provision for Children for families who would not othen¥ise be able to afford thcir fee5 to benefjt from the excellent education offered. During th¢ year £1.297.098 (2021-22 £1,180,301 I wa5 dirccted to scholarshtps, grants and burwies from unresiricied funds. This amounts to 10.lvo of gross fees. St. Mary, s School (Calne) (a company limÈted by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 St Mary'soffers scholarships and exhibitions to tslented gir15 at I1+ 13+ and for enlry into the Sixth Fomi. A scholarship award means that parents may apply for means-tested fee assistance of up to lo￿￿ of the fees. During th¢ year, 25 girls were in receipt of such awards. In addition, St Mary's offers an I l+ Foundation Scholarship. an AcadeTnie award for pupi15 coming from a State Primary S¢h¢x)I, which can offer up to IOOQ/o fee remission. During the year there were 7 Foundation Scholars at the school. including girls on IOOQ/o and 95Yo fee r¢mi5sion. Twenty fout girls were in receipt of means iested bursaries, 7 of whom rWeiV￿ bur5arie5 of 80 /oor more of fees. There were 2150 6 girls at St Mary's through the SpringBoard programme, 2 of whom were fully funded by the s¢hool. St Margaret's 21s0 offers means-tested bursaries. During th¢ ye2r 24 pupils were in receipr of such awards. 7 of which w¢r¢ at 70Yo or above. Nine pupils across both schools were in receipt of a military bursary. St Mary's is also 2 partner with Radley College and Down¢ House %n the ATmed Forces Fund, which set up lo help educate the ¢hildYen of setvice men and won]en killed or wounded whilst serving thetr ¢ountry. The sch(M)Is also provide. where po55ible. hardship awards Corthe f3milies of existing pupils where a change in financial cir¢umstan¢es mea¢J5 they are no lon8er able to pay full fees. Employee InVolven￿￿1 4ndEq4ts1 Opporlu#ilies Both teaching and non-teaching staff are provided with information on matters of concem io ihem, andof factorsaffecting the p¢rfomiance of the schoo15. through regular meetings and presentation5. Employees are encourag¢d to roise matt¢rs for discussion as appropriate and are consulted. usually infonnally, on matters likely to affect tlieir interests. Senior members of staff are regularly given the opportunity to brief Govcmor5 on matteL% of int¢r¢st within th¢ir departmen( and Govemor$ a￿ encouraged to en8a8e with Staff. ask and answerquestions whenever thcy visitthe school. The Govemors ire committed to ensuring equality of opportunity in ]t¢ruitm¢nt and employmen( with all applicants and employees Teceiving equal Ireatment r¢gardless of gcnder. sexual orientation, mwital ststus, race, coltsur. nationality, ethnic or ￿ational origin& religious belief, age or disability. We re¢ognise ihat disabled people Jnay have special requirement5 and will tnake reasonabl¢ adjusimentS to interview procedure5. work aTrang¢ments, premises, job design and trainin8 where necessary. Voltsnleers The Gowernors give fr¢¢ly of their time and the Schools ate very grAte￿I to th¢m for doing FA). In addiiion, Si Mary's School benefits from the suppon of the Calne Girls As50¢1ation ICGAI and the Parents, Guild of St Mary's School IPGSM). whilst St MaTgaret's Pr¢paratory School enjoys the Support of an a¢tive Parents. Association. All three organisation5 helped witli fundraising and ruliural activities throughout the year, and GovernoTS are thankfijl for the ¢orttribution these 8roups make toward5 the tnhan¢emeni and progress of knth Schools. STRATEGIC REPORT REVIEW OFTHE YEAR TMARY'S SCHOOL The academic year siariing in September 2022 wa5 very su¢¢essful with strong pcrfomiance5 acr055 all Rspects of school life.. Academic. Pastoral wjd Co-clltticular. In January 2023. St Mary's ushered in a year of150th anniversary celebrations. following ihe founding of the School by Canon John Duncan, Elinor Gabriel and Penelope Murray in 1873. Events celebrated over the anniversary year included Gala Ball in London, the WhiieHorse Sculpture Exhib*iion, Hand¢l's Messiah perforned at Univetsity Church, Oxford. The Head's Lun¢h at St Mary's in May, a whole.school pi¢rti¢ and walk at Bowood House and many regional dTinks parties. Celebrations will continue u)lil the end of the 2023 calendaryear, with a notable highlight beingthe Thanksgiving Service held on I l October at Salisbury Cathedral. St. Mary's School (Calne) (a company limited by guarantee) A￿NuAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 Academic The School supporis the academic developmellt and progress of around 350 pupils. A broad and enriching curri¢ulum is offeTed throughout all stages of the School and girls thrive in the small class sizes with the sup]x)rt of The teaching. House and 5UPPOrt Staff. The Conne¢¢ed Teaching and Learnillg policy 15 incorporated into lessons and departmen￿1 development plans. It is based around four main pillars.. Connected across subj¢¢t5.' developing iTiterdisciplinary think¢rs wilh the ability totransfer skills and knowledge Connectrd digitally.. using IT to enhance learning Connected with teache￿." to foster a love of leaming Connected with the wider commllnity.. collaborating with universities, other instiiuiions and professionals to create opportunities for real world leaming. These fotjr main pillars are connected to our broader academic philosophy." the capacity to ov¢r¢ome setbÈcks, challenges and dIfficulties that are part of everyday academic life. By fostering this. pupils will leave St Mary's with five key strengths that will piepare thern for the academic and wider challenge5 beyond school-. Confidence Coordination Conirol Cornposure Commiltnmt We are very PToud of the 2023 A Level and GCSE students, who experienced atough and unprecedented couple of years. As lh¢ UVI leavers had been unable to sit GCSE exams due to Covid. Iheir A Levels were the first external secondary s¢hcK)l a5SeS5tnents ihey had taken, and their resilien¢e and well-earned results were impr¢ssive. with 70O/oolgirls gaining A¥ or A. 'Value add. at A Level was ihe highest on re¢ord, with giTls performing on average +0.8 of a grade higher Ihan baseline data predicted. The Leavers will be heading off to a wide range of leading uDiv¢rsiiies including Oxford, Bimiingham, Bristol, Dyrh2m, Edinburgh and Exeier. They will be studying a broad range of subjects including Architectur¢, Biology, Busine55 and Management, ClasSICS. Computer Science. English, Fine Art, History of Art, Law, Engine¢ring, Liberdl Arts, Modern Languages. Philosophy, Psychology and Sport and Exercise Science. A third of the year gmup chose to complete an Extended Project Qualification {EPQ), with impressive re5uIt5'. 40Vts were awarded A*s. The EPQ allows siud¢nis ￿ demonstrate their 3biliry to pursue independent Study and helps them to deveIop ¢rili¢al thinking, project management and research skills ihat prepare them well for the next stsge of th¢ir education. It has also helped a5 an additional qualification in terms of university entrance. At GCSE. over half of the grades awarded io St Mary's pupils were an 8 or 9 and nearly three 9uart¢rs of grades were at grades 9-7. This is An excellent achievement that the siudents should be very proud of and a testament to their hard work and determination. In temis of'value add, atGCSE pupils on average performed +1.2 of agrade hightr than expectations. Scholarships and Exhibitions continue to be offered to talented girls lookin8 for entry ai I1+, 13+ and the Sixth Forn. Whilst these are largely honorary awards, fxmilie5 whose daughter have been offered a Scholarship or an ExhibÈtioTh may apply for a means-tested Bursary (see Public Benefit seetion above). riieArts The production of The llearl of Robin Hood in October 2022 wa5 a credit to all involved and a novel take on the well- known story. This was followed by the UIV Four on Tour production of 946." The Amuzing Siory ofAdolphus Tips, back at the Egg Theatre, Bath afier a few years, absence due to Covid. The well-attended Dance Show in collaboratton with Heddington Primary School wa5 a credit to the LV girls who organi5ed it as part of their Dan¢e Leader AwaTd and the Junior Play.. The Jdioijudge L7ndoiher.fiopies was a great success. During the sllmmer, a group of pupils took Once Upon a Ci'Rtrte to the Edinburgh Fringe F¢stival. rounding off the sch(x>l year in style. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 In Music, as always, a tllultitude of p¢rfom)aD¢e opportvrtities were offered, iThclyding the annual Cecilia James Music Festival. the Autumn Concert featuring excerpis from the Nutcracker Suite, the GCSE and A Level Recital G)ncert. the joini Sir Bryn Terfel and Sir Ttrn Rice Song Prize Cot]]peiition and the Fourth Form Music Festival. A highlight of the year was the p¢rfomiance of Handel'5 .Ilessiah at Great St Mary's. Oxford. Onc¢ again pupils competed at the Pangbourne Piano festival with great SU￿¢$5. Our Art department ha5 also betn characteristically a¢tiv¢. The History of Art trips to Paris and Florence helped to broaden girls. thinking, whi15t the'Narrdtives of Sculpture, Workshop at Ro¢he Court, Salisbury. allowed art students lo engage with a range of issues in creating an equin¢ sculpture as part of our Wbite Horse Proje¢L part of our 150 year telebTations. The breadih of ihe depatThient was also demonstrated with ¢vent5 0TL historical costumes, creating art'en plein air" and with a ttumbeT of pieces selected for exhibition at the annual Young Art competition ai ihe Royal College of Art with a Highly Cotntnended and 2 further Commendations received. Co-C4rriciil&r Life at St Mary's is about much more than what goe5 on in the cla5srootn. and the true benefits come in the wide rang¢ of co-curricular activitie5 and opportunities available ihroughout the school day. in the evenirEgs and at weekethds. Whether it is outdoor activities or corntnunity service, re¢reatiortal ¢lubs or simply socialtsing in House. the girls lea how ¢0 live together, to be aware of the need5 of others, and to develop the personal skills they will need to lead happy and 5u¢¢essful lives the future. During the year significant progress was made in bringing more cohesion to our ¢o-cutFicular offering, with a numberof activities coming together under the Donaldson Award umbrella This award is undertaken by all pupils so Illat by the end of their time at St Mary's they will have achieved ajunior, Int¢m)ediate or Sixth Fom award. The first Junior Award5 were 8warded this summer w2th all the 8ir15 in the UVI gaining the award at p8s5. merit or distinction. We again parti¢ipai¢d in the Young Enterprise Company Programm¢. Six ofour pupils ¢reat¢d Seedfor Thoughi, a range of beauti￿1 handmade Cards and Printed cards containing small envelopes with wildflow¢r s¢eds. This initiative won them the B¢51 Financial.,VartogemEni ¢aiegory at the County Final Awards. Career preparation plays a s%gnifiGant part tn the ¢o-¢urri¢ular programme. The annual UV Careers Nehvorking Everrlng showcased a wide Tange of career5 including Medicine. Law. Cr¢eiive Industrie5, Human Relatiolls and Finance. giving pup￿1$ a chance lo explore potential careers and different routes into ihem. ID February, we held the annual Jnspiring Fulures Coreers Confeiertce for LVI students featuring a panel of guesi speakeTS ¢over&ng broadcasting, Public Relations, haritable work, d¥am4 and sustainability. Further events during the year, oft¢n with alumnae sharing their own experiences. have rovered eDgin¢ering, printmaking and publishing atmong other care¢T5. This year saw the start of the SMC Writer's Guild. which wÉll meet every Tuesday in the Lumi Library. Open to all years, the Wrtter's Guild hopes to expand knowledge and skills in ¢reativ¢ writing. The Guild was formtd to Provide tnore opportuniiies to write and dis¢uss Stories. and for everyone to ¢ome and be abl¢ to write crealively alongside others, sharing work and ideas and learning new ski115 along the way. The CGA alurnnae talks prograTnme PTovided an opportunity for our alumnae to inspire and advise curreni and re¢etLt pupils. This year tOPiC5 included digital publishing. joumalism, finance and investment management. Sptsrt Our 5POrts offering continues to develop across every age group, with perfomian¢e and participation growing a￿d opportunitie5 for g%rls of all abilities to find a¢tivities that they enjoy and can play COTrtpetitively. This last year h&s s¢en a return to a full programm¢ of sports fixtures and a wide ran8e of other tspportUnLties includtng Company ¢omp¢titions, the annu81 Dance Show. and residential and overseas trips s¢Jch &s the Palm2 Tennis Camp and the Lacrosse Tour to the United Siaies. Notable netball successes included the U14 and Ul6 tjetball teams winning their respective district tournaments. and th¢ U16$ who went on to win the Wiltshire Schools County Netball Championship qualifyin8 for the SW Regional Schools finals. Si Mary's was also very succe5sfi]l at the c<)unty la¢rosse ioumaments wilh viciories for the 2nd. 3rd and Ul 3 teams artd runner up pla¢¢s for the U15 and U14 team5. The 1st team and U135 were runners up in the SW Regional tournament. The￿ wa5 further lacrosse suc¢¢ss at th¢ Lacrosse National Finals with top 4 finishes for the 3rds, a top 8 finish for the 2nds, and a top 16 finish for the U13 team. Our first team finished top 4 in Division l. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 St Mary's ski ming team picked up 8 gold. I silver and I bronze in the British Schoolgirl Racin8 Championships i Flaine. 0￿r pupils also included the Biitl5h National Juniorchampion at ihe Belsay Intemational Horse Trials. and a GB U21 Equestrian Team member. We have developed our offer in temis of the breadth and variety of activities to stimulate irktetes¢ engagement and enhance pupil experiences as well as offering opportunities for competitive 5POrt Kayaking, softball, scuba diving, yoga, and ultima* frisbee have been added to ourgames afiemoons. Our Sports Scholars have enjoyed a programme of sessions by guests including wtighilifting. cross fjt, speed training aTtd sports psychology around the theme of being 'ready to otnpete, They have also embarked on a series ofonline lectures for aspiring athletes facilitated by Independent Coach UK. They have been exploring themes including reviewin8 perfomion¢e. developing successful habits. Tnastering the mind and personal development plannin8. This is a Thation21 prog¥amme open to all independent schools. Community service is iaken very seriously at St Mary's. with all the students in Sixth Forni giving time, in a variety of ways, each week, and other pupils also supportlll8 the communiiy in variou5 ways. Charity events that have taken place this year have included the production of gifts and bakery forthe Marden Court care home, and participation in the annual Christmas Box Appeal orgznis¢d by the Foundation for Social Change and Inclusion. A particular highlight was a serie5 of shared scien¢e workshops with local primary schi>ol children including the children and tea¢heF5 being (safely) set on fire. Our Charity Week saw a number of events held which all raised funds for our ¢hosen Chatity. Swindon Dome51ic Abuse Support Se)wi¢es. In t¢rn)s of I￿al outreach, the Major Minors choir- comp(wd of ¢hildren from local primary schools, directed by staff at St Mary's and supported by staff at St Margaret's - wn¢inued to rehearse and perform. The choir gives the ¢hildre ¢onfidence to stand up and sing in front of an audience, sometimes in small groups and some singing solo parts for the very first time. A major success was the Lacrosse Festival. which saw nearly 100 Year 5 students from local primary Schools take part in an introduction io lacrosse that fini5hcd with a mini-lacrosse toumarn¢nt. Futhrejnveslmenl To continue providing a hIgh￿Uality nurturin8 enwironmettt, the s¢hool 15 to investing pnjdently in its future, and to providing pupils with a pleasant. stimulating and safe environment in which lo live, learn and connect with others. Approximately 7.50/4 of income is spens ¢a¢h year on maintaining aThd enhan¢ing the school estate. This year, projects included a refurbishtnent of tennis courts and provision of a new clay court, a refit for the Delscey Burns Theatre Lncluding new seating and lighting, iThslallatioTh of ele¢iric vehicle chargins points, the styn of atk extensive renovatiort programme for Gibbin5 House and provision of more Space for the Art department. STMAR ET'SPREP It was another successful year for St Margaret's in all areas of schi)ol life, providing an outstanding academic education with high.quality pastoral cate and a breadth of extra-curricular a¢flVltie5 to our pupils. Academic Year 6 pupils undertook their Senior School elltrance examinations during the Sprin8 term, obtaining some excellent results with all pupils receiving offers from their first-¢hoi¢e schools. Leavers, senior seh¢)ol destinations in¢luded St Mary's Calne. Dauntsey's, Kill8 Edward's Bath, Sionar. Cheltenham Ladies College, Downe Hous¢, Monkton Combe. Millfield School, The Royal High SchcK)l Bath, Pinewood and Prior Park Colleg¢. We were particularly proud that over 400h of the cohort were awarded s¢holarshsP5 and exhibttions recognising their various Strengths across the curriculum. During the year we s]nplemented and wnsolid8ted ¢hanges to the curriculum and monitorit)g a¢ross the s¢hool, buildiAg on the work begun in the previous year. The main changes were &s follows.. 10 St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 Leorning EnhaNcement- The Poiliway5 Programn The Autumn T¢rm saw ihe laun¢is of our new leamtng enhancement provÈsioo The Pathway5 Progrdrnme. The programme is our Trew offering for gifted and talented pupi15 in Years 4 to 6 with the aim to provide children with opportunities to experience Icarning beyond the classroom and to be equipped with a bTeadth of enriched skills and extended knowledge. The programme runs acros5 the schwl year and comprises the following themes.. All About Me, Leadership, An Introduction to. Mental Health & Wellbeing, STEM and enrichment visits. Children ale selected for the programme by achieving a high level in their Developed Ability InCAS assessments along Wjth demonstrating a parti¢ular str¢n8th in ekther Math5 or English. Curriculum The Changes to the English. Humanities and Science curriculun]5 tnade in the 2021122 acadetnie year were further Consolidated and a curriculum delivery fit for the 2 1st c¢ntury became eTt2bedded. IR Engltsh, the b00k-bas￿ approach has provided the ehildren with a real purpose for their leaming where they are using the skills taught aeross the whole curriculum. The blocked approach to teaching subjects in the wider cu(riculum has allowed the children to become Émmersed in their learning leading lo greater knowledge retention. Further siaff training took place to ensure all schemes met the objective5 of the National Curriculvm, were relevant and challenging to our community tsf children and demonstrated clear and logical Progressions across the year group5. Thc new app￿a¢h was built on developments itt cognitive psychology and theorie5 of working memory whi¢h has led to greater knowledge r¢t¢ntion as well as a sense of real enjoym¢ni from the currtculusn. ASS￿S￿en1 St Margaret's has introduced anew online daiatracking tool called Insighi. The programme allows U5 to record fomative and summative &sse5sments from Re¢epiiot) 10 Year 6 and produce concise rep)rts to learn more about the Progress of individual pupils &s well as whole classes and year groups. 1Th518ht will allow us to instantly sec how cla55e5 or year gTOUPS ar¢ performin8 againstcurriculum target5 attd idetJtJfy issues. settargets and record in¢eEv¢ntions. Insight provides a service wheTe all historical data on pupi15 can be uploaded io the system so we can track children over time from key points in Reception, Year 2 and Year 6. Well-being Th¢r¢ ¢ontinues to b¢ a big focus ott well-being a¢ross the school and a caiefully planned scheme has already begun. Our first focus was all about stttling into new class¢s and lh¢ importance of EASY (Ertjoymetti ai S¢h(x)l- Yesl) weeks. To support this, new individualised Easy Cards have been handed out to children from Year l. and a board has been created which in¢lud¢s infomaiion about what to do and where to go if children are fetling ID need of support. Additionally. there is a well-b¢ing board Thear the entrdnce of the school, which gives ide&% on how to help ourown w¢ll- being. PASS (Pupil Attitudes to Self and Sch(K)11 assessments in Years 2 to 6 eontinue to support us to uDder5tand where best to support the childr¢n and help tjs identify any barriers io leaming. These c&n then be ad(5ressed ihrough individual or small group work. We have a fully trained ELSA (ETnotional Literacy Support Assistant) who works with ¢hildren both individually and in gioups. This has been a 8reit addition tt> our pastoral support and we are already seeing the beneftts. The Pasioral Team continue to meet each weeK addresstng knth child prote¢tion and well-b¢ing issues. Identifying coneems early enables us to offer both internal and external 'Eorly Support,. Sport Si Margatet's m8na8e5 a competitive reputation alongside keeping all the Children participating on a weekly basis. The sports programme has continued ts) grow with the receni addition of Archery and Ultim&i¢ Fnsbee. We are very lucky to have superb on-site facilitie5. i]]cluding a 25m indoor swimming pool. a mult5.purpose $KK>rts ho11, full size all-weaiher astro pitch and a competition grdde climbing wall whi¢h includes varted three-dimensional cliTnbing surfaces for all ages Ihroughoutthe school. Recent tennis 8nd netball court Tesurfacing has tak¢n place to include speetator seating areas and an exclustve clay court for tennis opened for use in September 2023. St. Mary, s School (Calne) (a company limited by guarantee) A￿NuAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 He<h Related Fitness sits fiTmly in the Physical Education Curriculum for all pupils. This has given children increased ritness levels and seen an overall improvement in their general well-bein8. Martial arts are popular wjih our pupils and continues to grow. Th¢ pool 15 a wonderful facility which aecomrnimlates all pupils from Bluebird Nursery through to Year 6 Swimming at least once o week. Throughout the schwl year, tnrreased opportunities for enrichment acttvitie5 including water sports, outdoor pursuits and bushcraft are popular with our children. Swimming and games remain a strength. where St Maruaret's punches above its wcight in local, re8Lonal, and national competitions_ PerformingArts St Margaret's has enjoyed another sU￿t5s(u] year celebrating the ￿rror￿1n8 arts and developing pupils, confidence across drama. dance and music. Aulumn Term 2022 The Haryesi Festival was well attended. and parents enjoyed a set of songs from the Pre-Prep, Prep and Chamber Choirs. FaiherJonathan led the service. but we decided lo increase pupil participation by incotyoraling poetry p¢rfortnaH¢es and sele¢iing Year 6 pllpils to lead the cer¢mony. Year 2 pupils also composed and presented pray¢F5 very confidently. We subtnitted a lar8e entry lo the Devizes Eisteddfod again last year and pupils very much enjoyed the opportunity to perfomi for a wider audietlce and be adjuLfi¢aied profes5iOllally. Our ChambeT Choir Continucd its unbroken record of success and we returned with two trtsphie5- Choir I l and Under and School Music Presetiiation. We rouftded off the term wrth a beautiful Prep Carol Servi¢¢ to a packed Chapel, having enjoyed confident and ¢niertaining perfonnances from all our youngest pupils in their EYFS and Pre-Prep Nativities and a rousing performance from both OrchestTa and Ro¢k S¢hLM)I. Sprittg Term 2023 We einbaTked on a new series of ¢oncerts, open to every child in Years I to 6 and involving both Music and Drama. Our House Cone¢n series celebrated musicians and actor5 right from their earlies¢ piece5 to Grade 6 standard and gave younger pupils the oppornuni¢y to be inspird by more experienced and ac¢oTnplished performers. Years 3 and 4 gave a fabulous performanc¢ of Hansel and Gietel. complete wilh ingeniou5 5eL lighting. and cosium¢s', their alldiences we delighted. The Prep Spring Concert showcas¢d our choirs, orchestrd. and Music s¢holars (St Mary's, Dauntsey's) and featured a full-length cantata for the first time. We also moved our malt) session of LAMDA exam5 to the Spring term. avoiding the Summer trips and events, and were rewarded with 5uc¢ess for All our budding actors. Summer Term 2023 The spetta¢ular Beauty and the Beast Junior w&s the key perfomiance event of the term. A superb set designed by Ms Parollssi and ¢on5tru¢ied by the maintenance team's Brian Merritt inspired the cast to give the show their all and the audiences were most appreciative. The wplllarity of Ro¢k School grew masstvely during Ihe year and their performance this term featured (wo large bands, exp¢rtly led by our guitar and drum teachers. As another rtew initiative this year. Dr G2bbs has kindly organised and accompanied a selection of inspirational perfom]ers fTOm St Mary's to demonstrate their skills for the children. Music exam sessions IABRSM, Trinity Ro¢k & Pop) took place regularly during the year and the numbers of Distinctions and Merits remained high, thanks to our exceptional team of visiting Tnusic staff. M05t ch51dren are now taking exams live {rath¢r ihan recorded} and feedback from them is overwhelmingly posltive. by perforniing for an examinei in person, they truly feel & sense of achievemeni. 12 St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 FINANCIAL REVIEW AND RESULTS FOR THE YEAR The Charity recorded a consolidated deficit before inv¢5tmeTht gaills and fair value adjustments of £0.4m (2021-22.. surplus of £0.3ml. a nei defi¢it of 2 30/012021-22.. Surplus of1.8¥.}. Fee increases from September 2022 at 4.80/0 were excceded by cosi base inflaiion for much of the year, meanill8 although pupil numbers w¢re flot, the overdll financial r¢sult was disaptx>intit]g. The result for The year includes the ¢osis iDcurred in relation to changes in the senior leadership team at St Mary's. In addition, eateTing costs weTe in excess of ¢xpe¢taiions owing to high food inflation, and iTrter¢st cosis were affected by the incre&se Én b&8e rates through iheyrar. Feediscollnts were also slightly higherthan theprevious year. St Mary's School (Calnel Services Limited made a defic%t of £50.00912021-22.. surplus of £6,707). The CFT achieved investment income of £31,713 {2021-22." £15.326} and hdd a surplus before investmeni losses of £123,125 (2021-22." £199,876). Total investment gains were £5.31012021-22. losses of £88,399). Fundmising The Charity does not use external fund￿ls¢r$. Our Direcloi of External Relations is resw)nsible for monitoring all fundraising activitie5 undertaken. The Calne Foundation Trust was ¢siablished in Aprll 2012 to undertake fundraising and alumnae management strategies to support both sch(M)Is. A key focus now is on building a strong and sustainable BuT5ary Fund to support the award of means-tested bur5arie5 50 that GhildT¢n from less advantaged families can benefit from the outstanding education and tratssformational opportunitie5 that we offer. Reserves Policy Unr¢stri¢ted Funds at 3 1 August 2023 were £15,875,534 12021-22-. £16,111,928), all of which T¢pieseJ)t¢d funds deployed as pory of premises, facilities and equipment. Restri¢t¢d Funds ￿ 31 August 2023 were £9.830.24512021.22.. £9,983,320) and Endowed Funds £66,87012021-22.. £71.9051. The ChaTLty no free resetves. This is typical of many indepettdertt sch￿)1$ due to th¢ high value of fjxed assets and the need for continuing capita] expenditure fiom T¢tsined reserves. in support of our ¢haritable obj¢¢ts. Gov¢mors' policy is to mainta2n adequate ieserves io ensure the future developrnent of the schools. ollowin8 for capttal inv¢siment to maintain and enhance th¢ educational provision offered. Goihg Concer Cash flow piojections and forecasts covering the llext 5 years are rYview¢d in detatl at each termly meetingof the Fin&n¢e & General Purposes Committee. This includes stre5S testing tts assess ih¢ eff¢¢i of any variation5 in the underlying S5Utnptsons relating to pupil numbers. fee levels. inflation and interest ra￿s. Cash flow projection5 have also been reviewed covering a period in excess of 12 months from that date of signature of the arwunts. This analysis, together with review of rnonthly manag¢Tnent a¢¢ourtts and our budget process has satlsfied the GovemoTS that ihe School will ¢orttinue to be a 80ing concern and the accounts have been prepared on this basis. Any opeTaiional surplus is used to invest in the educational activities of the Chaiity, repay loaThs and to tnaitltain ar improve the site, and this is refle¢t¢d in the value of fixed assets on the Charity's balance sheet. Inve%tmeni Objectives and Performance Governo*s aim to optimtse the overall return on investments within th¢ overarching objective of sustaitjifbg inwme while continuing to preserye ihe real value of endowed investments. and to maximis¢ in¢om¢ (Trn short-term ittvested restricted funds. Endowed Funds tepresentiftg The S¢holarship, Prize and Capital Funds are invested it] shares in the Ccntral Board of Finan¢e Investment Fund. These i￿VestmentS geneTated losses of £1,147 {2021-22.. Ios5e5 of £2.090}. St. Mary, s School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 RESPONSIBILITIES OF THE GOVERNORS The Governors (who are a150 Directors of St Mary's School (Calne) for thc purposes of company lawl are responsible for preparing the Annual R¢port of the Govemors and the fjnancial Statements in accordanee with applicable law and United Kingdom Accollniing Siandards (United Kingdom Generally A¢¢epied Accounting Prdcticej. Cotnpany law requires the Governors to prepare financial statements for each financial year that give a t￿e and fair wiew of the slate or affairs of the Charity and the group and of the incoming resouTte5 and application of resources, including the income and expEnditur¢ of the Èroup for that period. ID pr¢paring those finaTLcial statements, the Governors are required to.. select suitable accounting policies and then apply them consistently., observ¢ the methods and principles of the Chariiies SORP. make judgemet)ts and estiwnates that are reasonable and prudent. state whether applicable accourtting standards have beet) followed. subject to any material departures disclosed and explained in the financlal statements,. and prepare the financial staiements on the going concern basis unlcss it is inappropriate to presume thai the Chariiy will continue in business. The Gtsvernors ale responsible foi keeping proper accounling records that disclose with reasonable accuracy at any lime the financial p0511ion of the charitable company aRd the 8roup and which enable them to ensure the financial state￿ellts comply with the Companies Act 2006. The Govemors are also responsible for 5afeguardtn8 the assets of the charitable company and the group and hence for taking reasortable Steps for the prevention and detection of fraud and other irregularities. The Govettlors eonfirni that they have cotnplied with the duty of Section 4 of the Charities Act 2011 to have due regard to the Charity CommisslOtt'S general guidance on public b¢nefit. The Governors have referred to the guidan¢e in ih¢ Charity Commission's geneT21 guidanc¢ Public BEn¢fit when reviewing ihe School's aims and obj¢ctiv¢s and in planning the School's futurc activities. In particular. the members of th¢ Gowerning Body have considered how planncd activities will Contribute to the aim5 and objectives that have been articulated. HOW THE BOARD COMPLIES WITH ITS SECflON 172 Dirty Under Section 172 of the Companies Act 2006 the Board of Governors. as Company Dir¢ctor5. ha5 a duty to promote th¢ lot)g-terrn success of the Charity and in doing so to have regard (amongst other matter51 to.. lh¢ likely cons¢quen¢es of any decision ith the long tern?. the interests of the charitable company's employees., the need to foster the charitable company's business relationships with suppliers, customers and others,. the impact of the charitabl¢ ¢ompany's operations on the co¥nmunity and th¢ environment. the de5irabilÉty tsf the ¢haritabl¢ cotnpany maintatning a reputatiot) for high standatds of business conduct- and the need to a¢t fairly &8 betwecn members of the ¢harithble company. The Chariry is governed in accordance with th¢ strutfur¢ outlined on page 2. GOverJ￿rS are resp)nsible for strategic planning and TX)licym&king and, a¢¢ordingly. all key d¢ci5ions relating to these are taken by the Board. As set out on P8g¢s 5 and 6, the Charity has developed. and will continue to foster, partnerships in the community. Thi5 is mutually beneficial.. it 8ive5 our pupils a sense of Tesponsibiliry and setvi¢e to others. and helps to widen acce5S to facElitie5 and education for lotal children. Through membership of HMC, IAPS. AGBIS and ISBA. and through networking with peer groups, we ensure Éhal w¢ are able to attain the highest standards of quality and performance. Details of how th¢ Charity has en88ged with employees and had ￿E8rd to employee iThteresls and can be found withsn the Employee Involvement and Equal Opportunities section ort pages 6 and 7. Below this on page 7 there are details of our volunteers. We believe that the success of the Charity in tneeting Its charitabl¢ aims is demonstrated throughout this reporL 14 St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 STREAMLINED ENERCY & CARBON REPORTIIYG We af¢ Tequired to report on greenhouse g&$ e]nissions and energy use data for the financial year. The iransport, LPG and domesti¢ property consumption is small and has been excluded from thi5 report as it is de minimis. Otherwise, key data for the site is Summarised as follows-. UK GHG Emission En¢rgy Dat8 2112>23 21b21-22 2021k21 2019-20 2018-19 Energy consumption used to calculate e￿isSIonS (kwh) 4,573J35 4,97J362 4.917065 £843 J99 5J8&573 Stope I: Emissions from the eombustion of P44¢ur?l Gos ¢C02e 581.63 640.73 660.68 657.33 695.S9 DEFRA Conversion Raie for Gas used in above calculatio 0.18 0.18 0.18316 0.18387 0.18385 k IC021kWh Scope 2: Emission5 from purchased El¢ctricity tC02e DEFRA Conversion Rote for El¢rtri¢ity used in above ¢alculation k IC021kWh 277.91 273.43 278.31 295.57 356.06 0.207074 0.19338 0.21233 0.23314 0.25560 Total gros5 Coze based on above (tCOtr} Intensity R#tio l.. tonne5 CO?e Eioss b&sed on mandatory fields alx)ve per metre square of Gross Internal Area tonne C02¢ m- 859.54 914.16 938.99 952.90 1,051.65 0.034 11.036 0.037 0.038 0.043 tonnes C02e m- tonmes Cole m" tonnes tonne5 C02¢ m-2 toNnes C02e m-2 C02e m-2 Gross Internal Area used to calculate IRI (new library added 2020 @ 625m I 25.438m 25.438m 25.438m 24,813m 24,813m Int¢n$i¢y Ratio 2.. tonnes CO2e gros5 based on mandatory fields above per pupil 1.65 tonnes C02el Pupil 1.75 tonnes C02e/ 1.8 tonRes C02e I Pupil tonne5 2 ton￿e5 C02e I Pupil C02e I Pupil Number of pupils us¢d to ￿ltY[ate 521 522 522 529 5JO 2018-19 data was taken from ESOS Phase 11 report. subsequeni daia has been Compiled using the sjme meth(x4ology of analysing enQ￿Y metering, invoices and supply summaries / s￿ements. 15 St. Mary's School (Calne) (a company limited by guarantee) ANNUAL REPORT OF THE GOVERNORS for the ear ended 31 Au ust 2023 ENERGY EFFICIENCY & ENVIRONMENTAL ACTIONS The SchiN)l is fully committed to improving lis ¢arbon footprint and to reducing the ettvironmellial impaci of its operations. Many of the buildings on site were wnstructed at a time when the importance of energy eificiency was not $0 well.underslood, and consequently they have poor thermal characierisii¢s. We have a phased programrnc to itnprove insulation and effici¢n¢y where P05SLble. During the yeat ihe following actions We￿ amtsng5t those taken to reduce energy consumption and ¢arbon emissions, and to improve the environment. Replaced several ag¢ing and inetTi¢i¢ni gas boilers and a550CLated plant in a number of buildings with more efficient units. Installation tsf Electric Vehicle Charging points for use by staff and parent5 with a vlew to h¢lping reduction of carbon dioxide C02 emissions. Further redu¢tiofi of waste going to landfill by increased recyclirtg of glas5. cardboard. food, clothing, and reuse gf our own composted garden waste. Continuation of the rollin8 Programmc to introduce LED lights and motion setlsors throughout the 5choK)l. In addition an independent LED 5urYq has been completed to identify where r¢plaeement lights need to be installed and at what cost. A comEnitment is now itt plaee to install solar pane15 during the nexi year. followtllg an independent study to identify where they should best be located. Air and ground source heat purnps will also be considered 80ing forwards to meet future ener8y needs. Secondary doubl¢ glazing has been installed in some otTices in ihe Main School bLtilding to itnprove heat retention and reduce drafts. Contirtued active encouragement of staff and pupils to 5Wltch off lights and equipment when not in use, and lo turn down radiaiors where possible. Where practical. we will prioritise ele¢tTSC powered trausport in fulure both when repla¢ing our own vehicles alld when sourcing transport seNices. STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE AUDITOR The Governor5 who were in office on the date of approval of these fjnancial statements hxve ronfirmed. a5 far as they are aware. that th¢rt is no relevant audit infomation of which the auditor is ullaware. Each of the Governor5 have cortfirtned that they have taken all the steps that they ollght to have taken as Governors in orderto mak¢ themselves aware of any relevani audit inforn)ation and to establish ihai ihe auditor is awarc of that infornJation. The Governors, Report and iN¢orporat¢d Strategic Report were approved and authorised for issue by the Board of Governor5 of Si Mary's Schwl (Calnel on 25 November 2023. Mr S Adde Chaim)aTr of Govemors 16 NDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) Opinion We have aUdI￿d the financial stat¢ments of St Mary's School {Calne) Iihe 'parettt ¢haritable company'l and its Subsidiaries (the 'group') for the year ended 31 August 2023 which comprise the Consolidated Siaiement of Financial Activities, the Group and Company Bal&n¢e Sheets. the Consolidated Statement of Cash Flows and notes to the financial statements. including si8nifJcant accounting policies. The financial reporting frsmework that has been appli¥d in their preparation is applicable law 8nd United Ktngdom Accounting Stsndards, including FRS 102"The Financial Reporting Statidard applicable in the UK and Republi¢ of Ireland" {United Kingdo]n Generally A¢¢epted Accounting Practice}. ID our opinson the financial 5tatem¢nts'. give a irue and fair view of the state of the group'5 and the parEnt charitable ¢ompany's affairs as at 31 August 2023 and of the gTOllP'S incoming resources and application of resource5. including lis inwme and expenditslre, for the year then ended. have been properly prq>8red in accordance with Uniied Kingdom Generally Accepted Accounting Prn¢tice' and have been prepared in aC￿rdance with the requirements of the Companies Act 2006. Bgsis for opinion We Conducted our audit in accordance with International Stsndards on Auditing (UK) {ISA5 {UK)l and appli¢abl¢ law. Our responsibiliiies under those standards are fijrther described in the Auditor's responsibilities for the audi¢ of the financial statements se¢tion of our report. We are independent of the gTOUP 3rtd patetst charitable company in accordance with the ethical requirements that are relevant to our audit of the financial siatements in the UK. including the FRC'S Ethical Standard and we have fulfilled our oih¢r ¢rhi¢al responsibilitie5 in 8¢cordance with thes¢ requirements. We believ¢ that the audit evidence we have obtsined is suffi¢ient and appropriate to provide a basis for our opinion. Conclusion$ relating to going eoneern In auditing the financial Statements, we have concluded that the Governors, us¢ of th¢ goin8 concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, w¢ have not identified a#y material uncenainiies relating to event5 or coTrditions that. 2ndividua]ly or colleciively, may ¢ast si¥nificant doubt on the gTOUP'S or paTer)t ch3rita6le company's ability to continue a5 a 8oin8 concern for a period of at le&st twelve months from when the financia] sthiemen¢s ar¢ authori$ed for issu¢. Our responsibilities and the responsibilities of the Governors with respe¢t to going concern are described in the relevattt 5ection5 of this report. Other informatio The other information comprises the infonnation included in the Annual Report of the Governors other than the fiDon¢i&l statements and our auditor's report thereon. The Governors are responsible for the oth¢r infornjaiion conthined within the Annual Repoft of the Govemors. Our opinion on the financial siaiements do¢$ not cover the other infonnation and. ¢xcept to the extent otherwise expli¢itly stated in our reporL we do not express any form of assurance conclusion thereon. Our responsibility is to rcad the other infomation and, in doing 50, consider whether the other infonnaiiot2 is materially inconsistent with the finat3cial statements or our knowledge obtained in thc course of the audit or oth¢rwise appears to be mateTially misstat¢d. If we identify such rnatcrial inconsistencies or apparent material mi5StatemtnlS, we are required to determine whether this gives rise to a matertal misststeinent in the finan¢ial sra¢¢m¢nts themselves. If. based the work we have perfomied, we ¢on¢lude that there is arnaterial misstaiement of this other infomiation, we are required to r¢tx)rt that fact. We have nothing to report in this regard. 17 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) Opinions on other matters pres£ribed by ¢ht Companies Act 2006 In our opinion. b&ed on ihe work undertaken in the course of the audit.. the infomiation given in the Annual Report of the Govemors, which includes the Dtrectors, Report and the Stratrgic Report prepdred for the purposes of company law. for the financial year for which the flnancial stat¢Tlletkts are prepared is ¢onsistent with the financial statements,. and the Directors. Report and thc Strategic Report included wiihin ihe Annual Report of the Governors have been prepared in accordance with applicable leg81 requirements. Matter5 on which we are required to report by exception In the light of the knowledge and understanding of the group and the pa￿ nt charitable company and their environment obtained in th¢ course of the audit, we have not identified material misstat¢tnents in the DIr￿lorS, Report or the Strategic Report included within ihe Annual Rep)rt of the Goverrtor5. We have nothing tg report in respect of the following matter5 where the Companies Aci 2006 require us to report to you if, Jn OUT opinion.. adequate accountin￿> r¢¢ords have not been kept by the parent charitable company, or r¢tums adequate for our audit have not been re¢eived from branches not visited by us. or the parent charitable company financial staternenis are not in agreement with the accounting records and returns- or ertain dtsclosures of irustees, remuneration specified by law are not made- or we have oot received all the inforn)ation and explanattons we require for our audit. Responsibilities ofGovtrnors As explained more fully in the Statement of Governors, responsibilities set out on page 13. the Govemors (who are also the directors of the ¢haritsble company for the purposes of company lawl are r¢sponsibl¢ for the preparation of the financial statements and for being 5ati5fied that they give a tn]¢ and fair view, and for such internal control as the Govemors det¢Ttnine is necessary to enabl¢ the preparauon of financial Statements that are free from tnaterial misst8tement. whether du¢ to fraud or error. In preparing the fsnan¢ial statements, the Governors are responsible for assessing the group's and parent charitable Company's ability io continue as a (poin8 concern, disclosing. as appli¢abl¢, matters related to going concern and using the going concern basis of accountin8 unless the Gov¢mors ¢ither ill￿nd to liquidate the group or partnt charitable company or to tease operations, or have no realistic aliemative but to do so. Auditor'5 respon5ibilitie5 for the audit of the financial stkÉement5 Ourobjectives are to obtain reasonable a5sufdnce about whetherth¢ financial staieThents as awhole are free from material mis5taiement, whether due io fraud or error, and to issye an auditor's report that includes OUT Optnion. Reasonable assurance is a high level of assurance, bui is not a guarall￿e that an audit conducted in accordance with ISA5 IUKI will alw8ys detect a material miss¢atemeni when it exists. Mi5Statetnents can aris¢ from fraud or error and are ¢on5id¢red material if, individually or in the aggregate, they could reasonably be expe¢ied to intluence the economic decisions of users taken on the basis of these financial statements. The extent to which the audit w4s considered expable of deteeting irregulgrities, including framd Irregularitie5 are insiances of non-compliance with law5 2nd regul21ion$. The objectives of our audit are to obtain sufficient appropriate audit evidence regaTditLg cotnpliance with laws ond regulations tha¢ have a direct effect on the d¢temits2tiort of material amounts and disclostjres in the financi￿ statements. to perfotm audit procedures to help identify instances of non-compliance with other laws and rtgulation5 that may have a material effect on the fjnancial statements, and (o res]x)nd appropriately io identified or suspected non-compliance with laws and regtjlations idenlifjed during the audit. 18 tNDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) In relation to fraud, the objectives of our audit are to identify and a5se5S the risk of material mi55tatement of the financial statements due to fraud. to obtain su￿1¢1¢nt appropriate audit evidence regarding ihe assess¢d risks of material misstatem¢nt due to fraud through designing and impl¢meniing appropriate resPOllSts and to respond appropriat¢ly ¢0 fraud or Su$￿¢t¢d ftaud identified during the audit. However. it is the primary resp)nsibility of management, with the oversight of those Gharged with governance, to ensure that the entity's operations are conducted rn a¢¢ordattce with the provisions of laws and Tegulations and forth¢ prevention and dete¢tion of fraud. In ideniifyin8 and assessing risks of material misstatetnent in respect of irregularities, including fraud. th¢ group audit engagement team.. obtained an vnderstanding of the nature of the s¢cior, in¢ludin8 the legal and regUla￿ry framework that the group and parentcharitable company operdte in and how the grollp dnd parent chaTjtable compaNy are ¢omplyitsg with the legal attd regulatory framework. inquired of management, and those charged with governance. about their own identiftcation and assessment of the risks of irregularilies. including any known actual, suspected or alle8cd instances of fraud., discussed maiters about non-complianee with laws and regulatiotls and how fraud mi8ht occur including asses51nent of how and where the financial ststements may be 5US¢CPtable to fraud. As a resvlt of these procedures we ￿nSider the most significant laws and regulations thai have a direct impact on the ftnancial st8t¢ments are FRS 102, Charities SORP IFRS 102), Companies Act 2006, Charities Act 2011, the parent charitable company's governing docujnenl, tax legislation and Charities (Protection and Social Inv¢5ttnentl A¢t 2016. We performed audit procedures to detect non-compliances which may have a mattrial impact on the financial statements which included reviewing the financial statemen15 including ihe Report of the Governors. remaining alert 10 new or unusual transaction5 which may not be in accordance with the governing documents, inspecting corresTX)ndence with local Lix auihorities and evaluating advite re¢eived from internavexternal advisors. The most significant laws and regulations that have 2ts indirect impact on the financial statements are The Ed￿Cation Ilndependent School Standards} Regulations 2014, Keeping Chilitren Safe in Education under se¢tion 175 of the Education Act 2002, and the UK General Dats Pmtection Regulaiioo (UK GDPRI. We performed audit procedures io inquire of management and ihos¢ charged with governance whether th¢ ¢haritabl¢ ¢ompany i5 Ln con)pliance wilh thes¢ law and Tegulations and inspected corr¢spondence with regulatory authoriiies. Th¢ audit engagcment tearn identified the risk of management ovtrrade of contro15 and in¢ome recognition as the area where ihe fjnancial statement5 were most SU5ceptible to material misstatementdue to fraud. Audit procedures performed included but wet¢ not limited to testing manual joumal eniries and other adjustment5. evaluating the business raiionale in rclation to significant, unusual transaction5 and transactions enter￿ into outside the normal COUTse of business. ehall¢n8tng judgments and estimai¢s and perforniing substantive test ofdeiails over a sampling of donations and other in¢ome. A further descriptÉon ofour responsibilitie5 forthe audit ofthe financial statements 15 provided on the Financial Reporting Council's website at h ..l/www.frc.or .uklauditOTsres This description forms part of OUF auditor's reporL 19 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARY'S SCHOOL (CALNE) Use of oknr report This report is made solely to the charitable company's members. as a body. in accordance with Chap¢r 3 of Part 16 of the Companies Act 2006. Imr audit work has been undertaken so that w¢ might siaie to the charitable company's members those tnatters we are required to 5tat¢ to thetn in an auditor's report and for no other purpose. To the fullest ¢xtent pemiitted by law. we do not accept or assurne responsibility to anyone other than the charitable company and the ¢haritable company's meTnber5 a5 a body, for our ￿di1 work, for this report, or for the opinions w¢ have form¢d. KERRY GALLAGHER (Senior Statutory Auditor} For and on behalf of RSM UK AUDIT LLP. Statutory Auditor Chartered Accountanis Davidson House Forbury Square Reading Berkshire RGI 3EU Date.. 14 December 2023 20 St. Mary, s School (Calne) (a company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT for the year ended 31 August 2023 Total Funds 2023 Total Funds 2022 Unrestricted Funds RtstTiCted Fund5 Endowment Funds Notes INCOME FROM.. Charitoble a¢ttvt¢i¢3 School fees receivable Other educational itjcome Other ancillary trading income Other trading ￿tiVitIeS Investtneni itbcome Donation5 3(al 15,551,336 31bl 273,052 15,551,336 273,052 15,114.930 276,162 3(b) 3{cl 31b} 31b} 277.089 652.932 76,362 7,538 277.089 652.932 102,922 257.342 192.893 604.973 25,177 390,342 26.560 249.804 Total income 16,838,309 276.364 17,114.673 16,604,477 EXPENDITURE ON.. ChAritsble activities School opeTaiing costs 5 116,125.2551 (307.614) {16,432,869) {15.298.6821 Raislrtg fu￿d$ Other trading experaditure Sch¢)ol financtn8 Costs 1968,7511 1109.0581 {968.751) (109.058) 1898,808) {1,077,8091 11.077,809) 11,010,142) TotAI expenditure 5 {17,203,0641 1307,614) {17.510.678) (16.308,8241 Net gains / {losses) on investments (2,6621 5,507 {1.3441 1,501 1100,6611 Gross transfers between funds 19-21 131.023 (127,3321 13,6911 NET IEXPENDITUREytNCOME NET MOVEMENT tN FUNDS FOR THE YEAR 1236.394) 1153.0751 {5,0351 (394,504) 194.992 {236.394) {153,0751 (5,0351 1394,504) 194,992 F￿nd balances at start of year 16.111,928 9,983,320 71,905 26.167.153 25.972,161 Fund balances at end of year I￿21 15.875,534 9,830,245 66.870 25.772.649 26.167,153 The notes on pages 24 to 47 form part of these accounts. Company Registration No. 00235572 St. Mary, s School (Calne) (a company limited by guarantee) BALANCE SHEETS as at 31 August 2023 GROUP 2023 SCHOOL 2023 2022 2022 Notes FIXED ASSETS Intan8ible assets Tangible assets Investment property Inve5ttnetLt assets 2,963 29,350,826 302,313 1.397,910 2,963 29,3 13,084 28.798,740 302,313 1,403,909 28,780,550 io 209,424 213,233 30,504,962 31,054.012 28.989,974 29,529.280 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 107.624 4.041,621 2,563,953 111,035 882.087 3,127.093 104,170 3,932,793 1.586.871 108,015 517,791 2.501,387 6,713,198 4.120,215 5,623.834 3.127.193 CREDITORS.. Amounts falling due within on¢ year 14 17.966,4561 {3,984,3171 17,833,938} 13,859,971) NET CURREI4T (LIABILITIESVASSETS 11,253,258) 135,898 12210.104} 1732.778} TOTAL ASSETS LESS CURRENT LIABILITIES 29,251,704 31,189,910 26,779.870 28,796.502 CREDITORS: Arnounts falling due after more than one year 15 (3.479,055) {5,022,757) 13.479.055) 15,022.757} NET ASSETS 25,772,649 26.167,153 23.300.815 23,773.745 FINANCED B Y: Endowmeot fund5 Resiricted fund5 Unrestricted funds Revaluation reseThe 19 20 21 21 66.870 9,830,245 15,25 1,546 623,988 71,905 9,983,320 15,487,940 623,988 59,193 7,304,000 15,313,634 623.988 &1.031 7,576,521 15,509,205 623,988 Totsl funds 25,772.649 26,167,153 23,300.815 23.773.745 The entity has taken exemption from presenting Its individual prnfit and loss a¢rount under section 408 of Companie5 Act 2006. The nei movement in funds for ihe pareni charity wa5 a decrease of £0.47m {2022'. increase of £0.08ml and the net expenditure for the year was £0.47m (2022". income of £0.09ml. Approved and auihorised for issue b the Board of Governo￿ of St. Mary's School {Calnel on signed on its behalf by.. and Mr S Adde Chairman of Govemors The note5 on pa8es 24 to 47 foTTll Port of these accounts. 22 St. Mary, s School (Calne) (a company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 August 2023 2023 2022 Notes C*$h now from operating Aetivities: Cash g¢neraled by operations Interest paid 22 1,275,404 2,119,823 (109,0581 (111,3341 Ne¢ £9sh from operating attivities 1.166,346 2.008,489 Cash flows from investing activÉties: Divid¢tids. interesi and reftts from investments Purchase of tangible a55¢t5 Purchase of investment property Proceeds from sale of investrnent assets Purchase of investment ass¢ts 102,922 25,177 1610,8031 (676.2001 {302.313) 23,620 125.3891 11,666 (16,1641 Net cash u$ed by investing actlvltles 1512,3791 (955.1051 Cash llows from financing activities: Repayments of loans Cash inflows from loans Repaymeni of Finao¢e L¢ase obli8ations (1,217,107) (867.042) (5,330) Net cash from financing activitie$ (1,217.107) {872.372) Movement in t8sh 1563,140) 181.012 C#5h and ¢gsh equiv41ents at th¢ beginning of the reporting period 3,127,093 2,946,081 Casb and eish equivglents At the end of the reporting p¢riod 2,563,953 3,127.093 ADRIysis of cAsh eash equivalents: Cash at bank and 2n hand 2,563,953 3.127.093 The notes on pages 24 to 47 forni part of these accou[￿. 23 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS for the year ended 31 August 2023 ACCOUNTING POLICIES CHARITY INFORMATION St. Mary's S¢hotsl {Calne} is a private company limited by guarantee and incorporated in England and Wales. The regisrered office 15 St. Mary's S¢hool, Curzon Street, Calne. Wilishir< SN I I ODF. St. Mary's School (Calne) meets the definition of a public benefit entity llnd¢r %¢iion 34 of FRS 102. The prin¢ipal objectives of the school are detailed in ihe annual report of the Governors found on page 2 of these financial statements. Details of the School's subsidiaries and their activttie5 are 8iven in note 3{cl to these accounts. The financial statements are prepared in sterling. whi¢h 15 th¢ fUn¢tiOn￿ ¢urrency of the Gtoup. Monetary omounts in these financial siatertkents are rounded io the nearest £. BASIS OF ACCOUNTS PREPARATION The financial sratements have been prepared in accordance with Accounritjg and Reporting by Charities". Statement of Recomm¢nded Practice applicable ro charities preparing their accounts irt accordance with the Financial Reporting Siandard applicable in the UK and Republi¢ of Ireland IFRS 102) (effective l January 2019 {Charities SORP (FRS 102)} the Fknancial Reportittg Standard applicable irt the UK and liepublic of Ireland IFRS 1021 and the Companies Act 21)06. The accounting policies di5c105¢d have been applied consistently throughout the current and preceding year. REDUCED DISCLOSURES FRS 102 allows qualifying entities ¢ertain disclosure exemptions. The School ottly has taken advantage ofthe exemptions for the following disc105UT¢ requi￿[ne￿lS.. S￿tIOn 7"Statement of Cash Flows" disclosures. Presentation of a SthtCrn￿t of C&sh Flow and related notes and BASIS OF CONSOLIDATION Thes¢ financial statements con$olid2te the assers, liabilities and results of the School. its wholly owned non-charitable subsidiary St. Mary's School {Calrtel Setvites Litniled and its charitable subsidiary The Calne Foundation Trust on a line by line basis. These financial statement5 a150 include the &sset5, liabilities and results of The Caltte Foundatton Tnjst, a registered charity which holds &ssets on behalf of the School. Any inira-group transadions are eliminated on consolidation. A separate statement of financial activirt¢s (including income and expenditure account) for the School itself is noi presented permitted by Seciion 408 of the Companies Act 2006. GOING CONCERN Cash flow projections and foreC￿ts covering the next 5 years reviewed in deiail ateach tertnly tneeting of (he Finan¢e & General PuTP05es Committee. This includes stress testing to assess the effect of any variations in the underlying sumptions relating to pupil numbers, fee levels, inflalion and interest rates. Cash flow projections hav£ also been reviewed covering a period in excess of12 monihs frotn that dale of siwature of the a¢¢ounis. This analysis, together with review of monthly management accounts and our bijdget process has satisfied the Governors thai the School will continue io be a goin8 concern and the accounts have been prepared on this basis. Any operational sU￿1￿S is used to invest in the educational activitics of the Charity, r¢pay loans and ￿ maintain and improve the site, and this Es reflected in the value of fixed &ssets on th¢ ChaTiiy'S balance sh¢ei. 24 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (conlinuÉd) for the year ended 31 Au ust 2023 ACCOUNTING POLICIES (contit]ued) FEES AND SIMILAR tNCOME Fre5 receivable and Charges for service$ and us¢ of premises are accountcd for in the period in which the service is provided. Fees receivable are stated afierdeducting allowan¢es. s¢holarship$ and other remissions granted by the Group. Fee5 received in advance of education to be provided in future yeaTS under a¢) Advanc¢ Fee Payment5 Scheme contract ar¢ held as interest-bearing liabilitie5 Until either taken to income in the temi when used or ¢lse refunded. Investm¢nt income¢arned on them in the rn¢aniime, if exc¢¢dinB the provision for any debt-financing costs arising under Ihe¢ontract, is taken to a designated fvnd to cover any ultimate shortfall that may arise on the Scheme. All other types of income, including in￿Stment income. Are accounted for on an ac¢Nals basis and when the Group h entitl¢men( the amovnt involv¢d can be reliably quanlified attd a transferof economic benefit lo the Group is prgbable. DONATIONS AND FUND AccouwfING Donations and legacies arc accounted for a5 and when the Group has entitlement, the amount involved can k reliably quantified and a transfer of economic benefit to the Group 15 probable. DOn￿IonS Teceivable for ihe general pllrwses of the Group are credited to Unre5trict¢d Funds. Donaiions for purposes re5tricttd either by the wishes of the donor or the tenns of th¢ appeal are taken to Restricted Funds where these wishes are legally binding oll the GovemoTS, ex¢ep¢ that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for 85 etLdowments- pemianent or ex￿ndable according to the nature of the restriction. EXPENDJTURE Expenditure is r¢¢ognis¢d on¢e there 15 a legal or constructive obligation to transfer e¢onomi¢ ben¢fit to a third party, it is probable thai a transfer of ewnomic benefits will be required in settlement and the amount of the oblig21ion can b¢ measured reliably. Expendittsre is classified by activity. The costs of each activity are made up of the total of diiect costs and shared C0S15, including support Costs involved in undertaking each activity. Direct costs attributable to a single actÈvity Sre allocated directly to that activity. Shared costs whi¢h Contribute to more than one activity and support costs whi¢h are not attributable to a single activity are apptsrtioned between those a¢iivities on a basis consistcnt with the use of resour¢es. Central staff costs are allocated on the basis of tim¢ spenl. and depre¢iation charges allocated on the portion of the ass¢t's llse. The trr¢coverable element of V AT is included with the item of expense to which It relates. EMPLOYEE BENEFITS The best estimate of the expenditure reQu5T￿ to Settle an obligation for t¢miination benefits is recognised IMM￿latelY as an expense when the charitable company is demonstrably rommitted to t¢rminate the employment of an employee or to pmvide temiination b¢rÈefJts. PENSION SCHEMES St. Mary's School {Calne) contributes to the Teachers, Pension Defined Benefits Seheme. The TPS is an unfund s¢heme and contrtbutions ar¢ calculated so as to spread the Cost of pensions over employees, workiiig lives wilh the School in such a way that the pension cost is substantially a level perceEJtagc of current alld future pensionable payroll. The contribuiiofts are detemiijed by the Govemment Actuary OTr the basis of quadrennial valuations using a prospective unit credit method. The TPS is a multi-employer scheme and there is insutTicient information available to used defined benefit accounting. The TPS is therefore treaied as a defined contribution Scheme, as detailcd in section 28 0(FRS 102. for a¢countin8 purp05e5 and the contributions recognised io th¢ period to which they relate. Non-tea¢hing staff Contribute to a defjned contribution 5ch¢Ttke where the assets are held in an entity separate to the School. Contributions iowards this sch¢m¢ are a¢¢gunted for in the period to which they relate. 25 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2023 ACCOUNTING POLICIES (cortiiniiÉd) TANGIBLE ASSETS Capitalisation 2nd replacement New buildings, tRajor improvements and extensions are capitalised at their original cost. All Tepair5 are charged to the Statement of Financial Activities when the tosts are incurr￿. Fumilure and equipment acquired for new buildings, major ¢xteosions and new proje¢ts are Capitalised at their original cost. Assets below £1,000 are not capitalis¢d. Depreciation Land is not depreciated. Depreciation of other assets 15 Provid￿ at rates calculated to write off ihe excess of Cost tsver estitnattd residual amount evenly over the estimated useful economic lives of each class of a55¢t. subject to annual review. These rates ar¢ currently as follows-. Freellold buildings Furniture, fittings and quipment Motor vehicles 2_10% straight line meihod I￿/0, 20Qh or 330/0 Straight line method 25W• reducing balance method The assets in the course of ¢onstruction shown in note 8 relate Èo assets which had not been brought into use ai the year end. No depreciation has been charged on these a55eis. INTANGIBLE ASSETS Intangible fixed assets costing £l,OOOormore art capitaliscd and reeognised when futuie e¢onomi¢ benefits are probable and Ihe cost or value of the net asset can be measured reliably. Intangible assets art initially recogni5ed at C05t and are subsequently measur¢d at cost net of amortisation and any provision for impairment. Amortisation is provided o intangible fixed a55t15 at rdtes calculated io write offthe ¢ostof each asstt on a straight-line basis over its expected usefiLI life, as folSows'. Computer software 33% straight line method VESTMENTS Invesiment5 are valued in the bal8*¢e sheet at their mid-market value at th¢ balance sheet dat¢. lttyesiment manag¢ment costs are accounted for as incidental c05t5 of the acquisition or disposal where tran53rtion-based. while iTrve5ttn¢nt incorne management costs are charged as expenditure out of the relevant income fund5. Unrealised and Tealised gain5 and loss¢s are shown in the Statement of Finan¢io] A¢tiviiies. INVESIMENT PROPERTIES Investment properties (including pro￿rtieS held underan opetating l¢a5e} are initially measured at cost and Subsequently measured at fair value. Changes in fair value are recognised in profit or Ios5. STOCK Stock is valued at ihe lower of cost and net realisable value usiDg the FIFO basis. LBASES Where the Group enters into a lease which entails taking substanrially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The assei is r¢¢orded in the balance Sheet Is a tangible fixed asset and is depreciated in accordan¢e with the above depreciation policies. Future instaltntnts under such leases, net of finance charges, are included with Credit￿5. Rentals payable are apportioned between the finance el¢meot, which is ¢haiged io the Statement of Financial Activities ort a straight line basas, and the capital clement whi¢h redu¢es the outstanding obli8ation forfutUTe instalments. 26 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the ear ended 31 Au ust 2023 ACCOUNTING POLICIES (coniinued) LEASES (conlinued) Rentals applicable to operaiing leases where substantially all of the benefits and risks of owneTship remain with the1¢5sor are charged against Profits on A Straight line basis over the period of the lease. FtNANCIAL INSTRUMENTS TheGroup has ele¢ied lo apply the provision$of Section I I 'Basie FinancÈal Instruments, and SeGtioD 12'0therFinancial In5trumeTht5 Issue5. of FRS 102 10 all of its fin8tt¢ial instruments. Finan¢ial instr￿MentS are recogni5ed when the Group becomes pany to the contracttjal provisions of the instrument. Financial asseis and liabiliti¢s ar¢ offset, with the net amount5 presented in the financial statements, when there is a legally enfor¢eable right to set off the r¢cognised 3mouThts and there is an intention to settle on a net basis or 10 realis¢ the asset and settle the liability 5itnultaneously. Basic finan¢ial ass¢ts, whi¢h include trdde and other Teceivable5 and c25h and baftk balan¢¢s are initially measured at transaction prs¢e including transaction ¢osts attd are subsequently carried at amortised ¢osi using the effective illLerest tn¢thod unless the arrallgeJTrent ¢on$titutes a financing trdnsaction, where the financial asset is measured at the present value of the future receipts discounted at a market Tate of interest. airnieni of financial &ssets Finan¢ial ass¢ts, oÈh¢r than those held at fair value through profit or loss are ass¢ss¢d for indicators of impairment at tach repoffing ¢nd dale. Financial assets ar¢ impaired where th¢r¢ is objective evidence thal, a5 a result of orte Or more evenis thot oc¢urr¢d afier the initial recogttitiort of th¢ financial ass¢i, th¢ estimated fi2ture cash flow5 have been affected. If an asset is impaired, the impairtnent 105S IS the difference between the carrying amount and the present value of the estimated cash flows discgunted at the asset's original effective inierest Tare. The impainn¢nt loss is reeo8nised in profit or Ios5. If there is a decrease in the Empairni¢nt 1055 arksing from an eveftt 0￿U￿lng after the impairment wa5 recogni5ed, the impaiTment is reversed. The ￿VerSal is such that the current carrying amount does noi exceed what the carrying amount would have been. had the impaim)¢ni not pr¢viously been recognised. The impairment reversal is recognised in profit or Ios5. Derec nition offinancid assets Financial a$sels are derecognised only when the contractual rights to the Cash flows from the asset expire or are settled. or when the Group iTansfers ihe fjnancial asset and substarEtially all the risks and rewaTds of own¢rship to another eniiry, or if some significant risks and rewards of own¢r$hip are retained but control of the asset has transferred to another party that is able to sell the &sset in its entirety to an unrel￿ed third party. Classifjcation of financial liabilitie5 Financial liabilities and equity instnJmeThts are classified according to the subsiance of th¢ Contrac￿al arrangements entered into. An equity instwment is any cO￿traCt that evidences a residual interest in the assets of the Group after deducting all of its liabiliiies. Basic financial liabElitie5 Basic financial liabilities, including trade atld oth¢r payables and bonk loans, are initially reco8nised al transaction price unless the anangement constitutes a financing transaction. where the debt instrument is measured at the preseni value of the fubjre payments discounted at a market rate of interest. D¢bt instrumen15 are subsequently raTried at amomised ¢os¢ using the effective interest rate method. 27 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2023 I ACCOUNTING POLICIES (coniinued) FtNANCIAL INSTRUMENTS (continued) Dereco ni n of financial liabiliiie5 Financial liabilitie5 are derecognised when, ond only when. the Group's contractual obligalions are discharged. cancelled. or they expire. ui instruments Financial instrurnents classified as equity instruments ar¢ re¢orded at the fairvalue of the cash orother resour¢¢s Te¢eived or receivable, net of transaction costs, unless the equity instrutnents are issued to cxtin8uish a financial liability due to a sha￿holder or a party under Common conirol. or in accordance with the original tems of the financial liability. Acce tance de sits Acceptan¢e deposits are paid to the GroLJP to secllre a place for the child at the School. Deposits held form part of the general funds of the Group until the ¢hild leaves the School at which point they are crediied without interest to the Fi￿al payment of the fees or oihei sums due to tht Group. Deposits are lield 2s oiher creditors on the balance sheet and are cl&ssified as owing within one yeir and ovcrone year based on when they are expected 10 be credited against income. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES In the application of th¢ Group's a¢¢ounting ptslicies, The Governors are required to make judgements, estimates and assumptions about ihe carrying amount of assets and liabilities thai are not readily apparent from other sources. The estimates and associated 2ssumptions ore based 00 historical experience and other factor5 that are considered to be relevant. Aciual result5 may differ from ih¢se esiimaies. The esiirnates and underlyirbg assumptions are reviewed on an ongoing basis. Revisiolls to accounting cstimates are recognised in the period in which the estimate 15 revised where the revision affecLS only that peri¢)d, or in the period of revision and future periods where the revision affects both current and fuiure peTiods. Critic41 aeeounting judg¢m¢nt$ Multi-¢m er defined benefit en5ion 5cherne Certain employees participate in a Emults-employer defined benefit pension s¢heme. In the judgment of the Govemors, the Group does not have sufficient infgrmation on the plan assets )lld liabilities to be able to re￿lablY account for its share of rh¢ defined bcnefji obligation and plan assets. Therefore the scheme is accounted for Is a defined contribution scheme. Critical accounttng estimates onoTnic lives of tan ible and intan set Th¢ annual depreciation and amonisation charge is sensitive to any changes in the estimated useful life and residual values of the tangible and intangible assds. The useful economic lives and residual valu¢ is &ssessed on an annual basis and are amended only when evidence 5how5 a change in the estimated economi¢ lives of residual life. Criteria used to &8se5s ihe economic life and residual value includes technological advanc¢menL economic utilisation. physical ¢(￿dition of the asset ar5d future inveslrnents. 28 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (contintsed) for the year ended 31 Au ust 2023 3{a) SCHOOL FEES The Schools, fee income comprised.. 2023 2022 GTOSS fees Less.. Means tesi¢d bursaries and scholarships Other Allowan¢es 17.231.709 16,652,289 11,297,Q98) 11.180,301) (383,2751 (357.058) 15,551,336 15.114,930 All income from School fe¢s relate to unr¢stri¢red funds in the ¢urrent and prior year. 3(bl OTHER INCOME 2023 2022 Other edu¢#¢ional intome Entrance and regtslraiion fee5 Courses and sub-lettings 123,606 149,446 l39.112 137,050 273.052 276.162 Other ancill#ry trgding incornt Insurance ¢ommissions Uniform shop After School Club School accommodation Events 12,615 198,595 32,049 8,875 24,955 27,210 85,084 37,103 7,110 35,686 277,089 192,893 All income from other educaitonal and other ancillary trading income Telates to Unttstricted funds in the Cu￿ttL1 and prior year. 2023 2022 Investment Jneome GAin5 and 10s5e5 Bank interest received Dividend5 received Ret)ial incorne 76,362 15,160 11,400 10,806 14J71 102,922 25.177 Of the aErf)ve investment income £76,362 (2022.. £10.8061 i¢lat¢s tt> unrcstricted funds and £26.560 (2022.. £14,371) relate5 to Testri¢ied funds. Investment {loss¢s) 18ains comprise a loss of £2,66212022.. loss of £12.26]) relatin8 to unrestricted fund5, a gain of £5.50712022.. loss of £86,309) relating to resirtcted funds and a loss of £1,34412022. loss of £2.0901 relating to endowment funds. 29 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS {conlinued) for the year ended 31 August 2023 3(bl OTHER INCOME (copriln￿ed) 2023 2022 Donation$ 257,342 390,342 Of ihe above donations £7,538 {2022.. £3.7151 relates to unresiri¢ied futlds and £249.804 (2022.. £386,627) relates to rtstricted funds. It should be noted that due to Chorities SORP recognition criteria, there are donations relaiing to this year and previous years of £274,031 (2022.. £352,756) presented within atcrued income. This is for donations which had 01 been received as ¢ash by the year end. 3(c) OTHER TRADING INCOME AND EXPENDITURE Si. Mary's School (Calne) Services Limiled (Company numbev.. 04111368) The School cotjtrols St. Mary's School (Calnel Services Limited, whose prtn¢ipal a¢¢ivity is the operation of a 5POrts centre. The registered address of St. Mary's School (Calnel Serviees Limited is the satne gs the School. Any profits of the trading subsidiary will be paid to the School under gift aid. Trading tumover, operating costs and net results extra¢t¢d from its audited accounts for the year ended 31 August 2023 and 31 Au8YSt 2022 are shown below. 2023 2022 Tumover Other opernting income 901,501 500 854,097 500 Administrative expenses and inte￿1 payable (952,010) 1847,890} Nei IdeficitFsurplus for the year {50,0091 6,707 The above fjgures irtclude inter-company transactions which are eliminated on consolidation. Other trading income and ¢xp¢nditure relates to unrestricted funds in the ¢utrent and prior year. 30 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOtrNTS (continued) for the year ended 31 August 2023 3{¢} OTHER TRADING tNCOME AND EXPENDITURE (eonlittued) The Calne F¢Mndoiio* Trusr (Chai"itynuMber.' IJ47327/Company plumber.. 08049040) The School controls Tht CalR¢ Foundation Ttust, whose principal activiiy is the promotiott of the ¢haritable purp05e5 of St. Mary's School IC21n¢). The regisiered addres5 of The Calne Foundation Trust is the same as the School. The results of Th¢ Calne Foundatitsn Trust extra¢ted from Éts audited accounts for the year ended 31 August 2023 and 31 August 2022 are shown below. 2023 2022 INCOME FROM.. Donations Invesiment income 229,415 31,713 390,342 15,326 Total in¢om¢ 261,128 405,668 EXPENDITURE FROM: Chariiabl¢ a¢tiviÉÉes (138,0031 (205,7921 Total expendi￿re 1138,0031 {205,792) NET INCOME BEFORE LOSSES ON INVESTMENTS 123.125 199,876 Gains l(105sesl on investments 5.310 188,399) NET INCOME 128.435 111,477 NET MOVEMENT tN FtrNDS FOR THE YEAR 128,435 111.477 Fund balances zt start of year 2.431.147 2,319,670 Fund balan¢¢s at end of year 2,559,582 2.431,147 31 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (¢onlinued) for the ear ended 31 August 2023 NET EXPENDITURE The net expenditure for the ye2r is stated after Ghargingllcrediting).. 2023 2022 Chgritable activities expenditur¢ includu: Operating lease charges Bad debt expense Depreciation of tangible fix￿ assets Amortisation of intangible assets 1,533 5.547 1,317J18 3,550 3,453 1,162.889 2,963 AudiioT'S remunerdtion.. RSM UK Audit LLP- audii of the Group and parent charity RSM UK Audit LLP- audit of the subsidiary companies RSM UK Audit LLP- other assurance RSM UK Tax and Accounting Ltmited- t&¥ation fees RSM UK and Accounting Limited- other service5 18.350 8.700 1,250 4,500 20.850 16.475 7250 1200 3,450 24,315 Total Group #Rd Charity staff costs comprised: Wages and salaries Social security costs Pension contribtJtlOlJ5 Staff resiru¢turing costs 9,063,438 843.831 1,466,579 293,013 8,544,786 809,589 1,348,996 11.666,861 10,703.371 Settlement paym¢nts Included in staff restrueturing costs arc settlement payments to two membcT5 of staff totalling £293,013 (2022.. £nil). No emoluments, remuneTatton 01 petL5ioll5 were paid or are payable to th¢ Governors foi this year or the PTevious y¢ar. Expenses incurred in attellding meetings are, in some insiart¢es, reimbu￿¢￿. During the year exp¢n5es of £6.110 were paid to 5 8ovemors12022.. £6,243 to 4 governors). The number tsf persons ¢mploy¢d, expressed as ￿1[ time equivalent, was as follows.. 2023 2022 T¢a¢hing and suppon Domestic Administration Trading subsidiary 129 84 33 19 130 85 32 20 265 267 The average headcount during the year wa$ 44312022-. 433) ftii the Group and 37312022.. 3721 forth¢ School. 32 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (conlillued) for the year ended 31 Au ust 2023 NET EXPENDITURE {continuedl The number of employees whose e]nployee benefits (excluding employer pension costs and employer national insurance ¢ontTibutionsl ¢x¢¢eded £60,000 was.. 2023 No. 2022 No. £60,001- £70,000 £70.001- £80,000 £80.001- £90.000 £ioo,001 £iio.000 £140,001- £15Q,000 £160.001- £170,000 Pension ¢ontrtbutions in r¢5pect of the above higher paid ¢rnployees were £157,450 {2022.. £144,325). ANALYSIS OF EXPENDITURE Depreciation Other ¢osis & amortisation Total 2023 Total 2022 Staff costs Raising funds: Trading expenditure Interest 606.690 342,509 109.058 19.552 968.751 109,058 1,077,809 898,808 111.334 Total 606.690 451,567 19.552 1,010,142 Charitsble Attivities: Teaching Welfare Premises Support C4)st$ of sch(K>l School operating costs Totsl 7,596271 1,140,437 915,226 1,408,237 767,436 1.021.975 1.789.913 647.074 230.799 263,083 652,418 8.594.506 2.425.495 3.357.557 2,055,311 16,432,869 17,510,678 7,845.385 2,933,294 2,642,452 1.877.551 1,060.171 4226.398 4,677.965 1,146,300 1,165,852 15,298.682 11.666,861 16.308.824 Of ihe Bbove expenditure £16.125.255 (2022.. £15,048.205} relates to unrestricted funds and £307,614 {2022.. £250,477) relat¢s to restricted funds. ANALYSIS OF SUPPORT COSTS Educatio#al operations Ancillary trading 2023 Marketing 2023 Gov¢man¢e 2023 Total 2023 Toial 2022 2023 Stsff costs AdmiTh and office costs Stock purchases Trustee expenses Audit and accountancy 1,120.879 202,628 110,924 22,045 176,434 224.673 1,408,237 449.346 1.216.476 476,987 129,613 129,613 6.110 62,005 105,705 6,243 72.140 6,110 62.005 1.323,507 262,582 401,107 68,115 2.055,31 ,877.551 Governance costs are asso¢iat¢d with the strategic asopposed today-to-day ]nanagement of the School'5 activitie5 and include cosl5 in relation to assisting the Governors with performing their responsibilities. 33 St. Mary, s School (Calne) {a company limited by guarantee) NOTES TO THE ACCOUNTS (conlinued) for the year ended 31 August 2023 INTANGIBLE FIXED ASSETS- GROUP AND SCHOOL Webstte and brand Cosi At I Septefflber 2022 65,198 Ai 31 August 2023 65,198 AttLOrtisation At I SepieThber 2022 Charge 62,235 2.963 At 31 Augusi 2023 65,198 Net book value At 31 August 2023 At 31 August 2022 2.963 The intangible asseis relate to purchased web5jt¢ d¢velopment and brand ￿freSh. The amortisation is shown within ¢hariiable activities in the Statement of Financia] A¢iivities. 8(al TANGIBLE FIXED ASSETS-GROUP Assets in the Freehold land course of and buildings construciion Furniture, fittings and equiptnent Minibuses Total Cost At I Septetnber 2022 Additions Disposals Transfer 33,353,895 620.169 272.654 {157.499) {526,1251 209,199 6,190,705 338.149 139,981 40.309.750 610,803 {157,499) 526.125 At 31 Atjgust 2023 33 J58,895 7.054.979 139,981 40,763,054 Depreciation and impakrfftetlt At I September 2022 Charge Disposals At 31 Aygust 2023 5,205,399 897.198 157,499 5,475,919 260.754 120.107 4,937 10,958.924 1,162,889 157.499 11,964,314 157499 6.102.597 5,736,673 125,044 Net book value At 31 August 2023 27,256,298 209.199 1,318,306 14.937 28,798,740 Ai 31 August 2022 28,153,496 462.670 714,786 19.874 29,350.826 34 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (CO￿11￿Uedj for the ear ended 31 August 2023 8{bl TANGIBLE FIXED ASSETS- SCHOOL Assets in the cgurse of ¢on$truction Fumiiur¢, rjttings and equipinetlt Freehold land and buildings Mioibuses Total C05t At I September 2022 Addiiions Disposals Transfer At 31 August 2023 33.358,895 620,169 272,654 {157,499) {526.1251 209,199 5.947.440 338.149 139,981 40.066,485 610,803 1157,499) 526,125 6,811,714 33.358.895 139.981 40,5 19,789 Depreciation and iinpaimient At I Septeniber 2022 Charge Disposals At 31 Augusi 2023 5,205,399 897,198 157,499 5.270,396 241,202 120,107 4,937 10,753,401 1.143.337 157.499 11,739239 157499 6.102,597 5.511.598 125044 Net book value At 31 August 2023 27,256,298 209,199 ,300,116 14.937 28,780,550 At 31 August 2022 28 153496 462,670 677 044 29,313 G84 VESTMENf PROPERTY- GROUP 2023 Va]uation * I September 2022 and 31 August 2023 302.313 Investm¢nt property comprises a residential property in the S￿bS￿d￿ary, The Calnt Foundation Trust. The property w&s purcha5¢d on 26 July 2022 for £302,313. which in the opinion of the tntstees j5 the market value as at 31 August 2023. The school has no investmeni properties. 35 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 3 l August 2023 10 rNvESTMENTS Group School 2023 2022 2023 2022 Fixed asset investments (note I Ila)) Investment in sub51diarie5 1,403,909 1.397,910 209,423 213232 1.403.909 1.397,910 209,424 213,233 Subsidiary uthdertakings At 31 Allgust 2023 the School held IOOO/o of ihe alloned share capital of St. Mary's School (Calne) Seryices Limiied in¢otPOTated in England and Wales, which is involved in the leiting of facilities. The a5set5 and liabilities of St. Mary's School (Calnel Services Limited {re8lStered number.. 041113681 are.. 2023 2022 Tangible fixed asseis Current gssets 18,190 158,501 37,742 48.866 176,691 86.608 Creditors.. amounts falling due wiihEn one year {264,4381 1124,3461 Net ¥sets {87,747} 137.7381 RepT¢sented by.. Share capital Profit and loss account (87,7481 {37,7391 (87,7471 137,738) The assets and liabilities of The Calne Foundation TtU5t (charity number.. 11473271 are., 2023 2022 Investmeot pioperty Fixed asset investments Currertt assets Current liabtlities 302,313 1,194,486 ,132,991 170,2081 302.313 1.184,678 944,156 Net assets 2,559,582 2,431,147 Represented by.. Endowment funds Restricted funds Unresiri¢t¢d funds 7,677 2525,794 7,874 2,406,348 16.925 2,559.582 2,431,147 36 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (cop7tik7ued) for the year ended 31 August 2023 I l{a) FIXED ASSET INVESTMENFS- GROUP Unrestricted Funds Restricted Endowment Funds Funds Total Fund5 Valuation at I September 2022 Transfers Additions Disposois Lossl(gatnl on inv¢stment$ 145,355 3,691 16.164 (11,6661 {2,6621 1.177,279 75.276 (3.6911 1,397.910 16.164 {11,6661 1,501 5,507 {1,344) Valuat%on at 31 August 2Q23 150,882 1.182.786 70,241 1.403,909 The value of the gFOUP investm¢tJt portfolio analysed by investment holdin85 15 a5 follows.. 2023 2022 Fixed interest UK equitits North American cquitie5 European eituities Jap8nc5e equsties Asia pa¢ific ex Japanl EM equtties Global equities Alternative investments Commodities Cash and cash olternalives Church of England Investment Fund 177,464 165,489 413.299 72,500 19,762 56,001 52,532 107,097 67,268 63,074 209,423 105.375 139.082 385.234 66,762 20.669 85.399 58.695 165.860 65,098 92,504 213,232 1.403,909 1.397.910 I Ilb)FIXED ASSET INVESIMENTS- SCHOOL Ut)reslricted Funds Restricted Endowment Fund5 Funds Total Funds Valuation at I Septrmber 2022 Tran5fer5 Loss on investments 145.355 3,691 {2,662} 67.877 13.091) 213,232 (3.8091 Valuation at 31 August 2023 146,384 63,039 209.423 Fixed asset investments relate to the CBF Church of England InvestTnent Fund in the S¢hool. other listed investments are managed by James Hambro and Partners. The inveslments are held in a portfolio designed to rn¢et the Governors investment policy to maintair] a reasonable balanrx b¢twe¢n ineome and capital gr(>wth. 37 St. Mary's School (Calne) {a company limited by guarantee) NOTES TO THE AccoifNTS (conlinued) for the year ended 31 August 2023 12 STOCKS Group School 2023 2022 2023 2022 Goods for resale 107.624 104,170 108.015 13 DEBTORS Group School 2023 2022 2023 2022 School fees PTepayments and a¢Grued income Other debtors Amounts owed from Group undertakings 3,363,865 504,517 173.239 41.900 829,377 10.810 3,363,865 223,148 143.652 202,128 41,900 472,289 3.602 4.041,621 882.087 3,932,793 517,791 14 CREDITORS.. AMOUNTS FALLING DUE tN ONE YEAR Group School 2023 2022 2023 2022 Fees weived in advance V AT payable Other tsx and social security Pension creditor Oiher ¢r¢ditors Accruals and deferred Encome ,141,533 4,678 224,736 181,780 895.364 5.257.107 734,221 2,638 200,716 157,052 578.022 2.018.515 1.141.533 734,221 216,590 178.024 781,547 5,254.986 194,040 153,586 478,456 2.1106,515 7.705,198 3.691,164 7.572,680 3.566,818 Bank loans (note 161 261.258 293,153 261,258 293,153 7.966,456 3,984 J17 7,833,938 3,859,971 Included in accruals and deferred income is deferred income of £4.822,36312022'. £1,837,118). Fees received in advance are also considered to be deferred income. This relates to income Teceived in advance to be used agairtsi future School fres. The movement in the short temi defetred income for the School and Group is analysed below. Fees in Advan¢e 2023 Fees in Advance 2022 As at I September Increase in the year Released in the year 734,221 ,101,531 1,141,533 734.221 1734.221) {1.101.533) As at 31 Au8USt 1,141,533 734,221 38 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (¢onlinued) for the ear etided 31 August 2023 15 CREDITORS.. AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR GTOUP School 2023 2022 2023 2022 rees received in advance Oiher ueditor5 Bank loan 841,458 1,552,538 1,085,059 I,J70,810 1,381.676 2,270,271 5,022.757 841,458 1,552,538 1.085,059 1,370.810 1,38 1,676 2,270,271 3,479,055 3.479.055 5.022.757 Fees received in advan¢¢ relates to income received in advan¢eto be used against fijture Schotsl fees. The movement in th5s balance for the S¢hool and Group is analysed below. Fees in Advance 2023 Fees in Advance 2022 As at I Septernber Increase in the year R¢l¢ased in the y&qT ,370,810 1,213,870 106,268 1,170,810 (635.620) (1,213,870) As at 31 Augusi 841,458 1,370,810 16 BORROWINGS Grottp School 2023 2022 2023 2022 Bank loans ,346,317 2.563,424 1.346.717 2.563.424 l J46.317 2,563,424 1.346.317 2.563.424 Payable in one year Payable after one year 261.258 1,085.059 l J46,3 17 293,153 2.270,271 261.258 1,085,OS9 1,346,3 17 293.153 2,270,271 2,563,424 2.563,424 Of lh¢ amounts payable after One year £40,020 {2022- £343,302) is payable after five years. The bank overdraft and loans are 5ecurcd by a fixed charge over all pre$et)t freehold and leasehold PToperty. a fiTSt fixed charge over book and other debts, chattels, goodwill and unca]led capital, both present and future, and a fsr5t floating charge over all assets and undertaking5 b￿h Present and ￿ture. The bank loans are denominated and repaid in sterlin& have contractual interest rates thai are variable r2tes linked to SONtA, Ihat ar¢ not leveraged. and do not Contain conditional returns or repayment provislons other than to protect the lender against credit deterioration or changes in Televant legislation. 39 St. Mary's School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2023 17 FINANCIAL INSTRUMENTS Group School 2023 2022 2023 2022 Carrying amount of financial assets.. Equity instruments measuied at fair valu¢ 1,403,909 ,397,910 209,423 213,232 ITuments Equily lrtstruments that are listed on a regulated stock exchange are measured at fair value using obseNable market inputs. The inpllts used in valuing the instruments include indexes provided by these regulatd markets. 18 NET ASSETS OF THE FUNDS OF CHARITY AND GROUP The Group and Sclx)ol's net assets belong (o the variO￿S funds as follows.. Fixed assets and invesiments Current assets Liabilitie5 Total Endowment Funds (note 191 Restricied Funds (note 201 Unrestricted Funds (note 21) School 59,193 6,538,617 22,392,164 59.193 7,304.000 {11.312,993} 15,937,622 {11,312,993} 23 JOO,815 765,383 4.858.451 28,989,974 5,623.834 Sub5idiaries' reserves (Endowed Funds) Subsidiari¢s' reserves (Restricted Funds) Subsidiories, reserves Ivnresiricted Funds} Group 7,677 1,481,816 25,495 7,677 2,526.245 (62.088) 1,044,429 44,935 1132.518) 30,504,962 6,713,198 (11,445.5111 25,772,649 2022 COMPARATIVE FIGURES Ftxed assets and investments Current assets Total Endowment Fllnds Restricted F￿ndS Unrestricl¢d Funds 64,031 7.335.746 22.129.503 64,031 7,576,521 16.133,193 240,775 2.886,418 (8.882.728} (8.882,7281 School 29.529.280 3,127,193 23.773,745 Subsidiarie5' resetves (Resiri¢ied Funds) Subsidiari¢s' reserve$ (Endowed Funds) Substdiaries, reserves (Unrestricted Funds) Gr&up 7,399 1,479,59 37.742 475 927.208 65,339 7,874 2,406,799 121.265) 26.k67,153 (124.3461 19.007,0741 31.054.012 4,120,215 40 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 Augusi 2023 19 ENDOWMENT FUNDS: MOVEMENTS IN THE YEAR Grollp Balance at I Sept 2022 Transfers and outgokng resources Balance at 31 August 2023 Investment gainl(loss} Scholarship Fund Prize Fund 57,960 13,945 {1.1471 (1971 11.601) (2.090} 55,212 11,658 71.905 {1,3441 (3.691) 66,870 School Balatjce at I Sept 2022 Transfers and out80in8 resources Balance at 31 August 2023 lttvestment gain Scholarship Fund Prize Fund 60,505 3.526 (1,1471 13.691) 55,667 3,526 64,031 {1,1471 13.691) 59,193 The Scholarship Fund is invested in 5h#res in the Central Board of Finance Investment Fund. the inwme of which is taken to restricted funds and used a5 a contribution towards the cost of scholarships. The Prize Funds are invested in shares itt the Central BoaTd of Financ¢ Investment Fund and cash held generdlly. the income of whi¢h is tak¢n to restricted funds and used as a contrtbution towards th¢ costs ofprizes awarded. 2022 COMPARATIVE FIGURES- ENDOWMENT FifNDS Group Balan¢¢ at I Sept 2021 Transfers and outgoing res0￿rceS Balanee at 31 August 2022 Inveslment gain Scho12r5hip Fund Prize Fund 60,050 13,945 (2.900) 57,960 13,945 73,995 (2.900} 71,905 S¢hool Balance ai I S¢pt 2021 TratLsfrr5 2nd outgoing resource5 Balance at 31 August 2022 Investment gai Scholarship Fund Prize Fund 60,505 3,526 60,505 3,526 64,031 64,031 41 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS {contintsed) for the year ended 31 August 2023 20{al RESTRJCTED FUNDS.. MOVEMENTS IN THE YEAR- GROUP Balance at I September 2022 Balance at 31 August 2023 Trdnsfers and Expenditu￿ gainsl(lossesl Income Foundation Appeal Headmistresses Old Girls Assocaation Music Department Donation5 St. Mary's Charity Fund St M2rgaret'5 Charity Fund Chapel Fund St Margaret's Eeo Project Sports Fund St. Mary's Library New Bursary Fund Am)ed Forces Fllnd Capital Proje¢is Fund Prizes 5.551 2,085 1,728 6.896 1.290 206.910 1,053 2,261.421 4.755.702 2.095.667 5,551 2,085 1,512 8,946 368 206,910 1,053 2,216,193 4,565,474 2,317.865 12161 (13,2771 {2.379) 15,327 1,457 145,228) 1190,2281 {32,9781 249,669 5,507 315,407 550 4,229 175,175 1,798 265 1,623 (22,6901 16181 292,982 ,555 4,229 49,343 5,821 2,500 147.707 PGSM STEM Events fund Fl in schools Other r¢stri¢ted funds 1,500 4,023 2.500 1127,332) 147.707 Total 9.983.320 276,364 1307,614} 1121.825) 9.830.245 20lbl RESTRICTED FUNDS: MOVEMENTS IN THE YEAR- SCHOOL Balance at I September 2022 BalanGe at 31 August 2023 Transfers and Expenditure gainslllossesl Income Foundation Appeal Headmistresses Old Girls Association Music Departm¢ftt Donations St. Mary's Chatity Fund St Margaret's Charity Fund Chapel Fund St Margaret's E¢0 Proje¢t Prizes Sports Fvnd St. Mary's Librhry STEM PGSM Capital Proj¢¢¢s Fund New Bursary Fund Fl in s¢hoo15 Equipment Fund Oiher Testri¢t¢d funds 5,551 2,085 1,728 6,897 1,290 4,758 1,053 534 2,327,509 4,773,702 132,605 4,229 159,146 12,764 5.551 2.085 ,512 8,947 368 4,758 1,053 534 2,282.281 4,583,474 5.273 4,229 207,250 13,015 2,51JO 420 180.750 (2161 {13,2771 {2,3791 15,327 1,457 145,2281 1190,2281 (127,332} 70,794 8,643 2,500 {22,690) {8,392) 420 142,250 38.500 Total 7,576,521 137.221 (282,4101 (127,332) 7,304,000 There has been a transfer from the Strem Centre restricted fund to unrestricted funds of £127,322. This Iransfer h&s OCCUTred following the write off of the Stem Cen¢re fixed asset that w&s included within assets under constrnction in the prior year. The amount transferred io unrestrieted funds 15 the amount of th¢ Testri¢ted fund that related lo this fixed ass¢t. 42 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2023 20(b) RESTIUCTED FtrNDS.. MOVEMENTS fN THE YEAR- scH￿L {¢oniinuedl C James Music Prtze Fund Thc C James Music Prize Fund is cash to be invested in share5, the income of which will be restrided and used as a contribution towards the cosi of prizes awarded. The Sports Fund Ipreviously ktlown &s the Sport5 Hall Fund) relatts to dOn￿10ftS r¢¢eiv¢d for various sport capit projects and is released io line with ¢xpenditure. New Bursa nd The New Bursary Fund relates to donations for specific bursaTies. This year bursaries were pwd out for the Matthews Bursary, Music Bursary and th¢ Sprsngboard Bursary. Armed Forces fund The Armed Forces Fund relate5 to donations to support the education of children who have a parent, of any rank, killed or wounded in active 5ervicc. a ital Pro The Capital Proje¢ts Fund relates to various ongoing s¢hool related capital projects. The majority of the irt¢ome ihis year is in relation to the LinaeKiln Garden. Donations wete also received forthe climbin8wall. art block and perfoTrning fun The Library Fund relates to donations received for the purpose of building a n¢w library and is rele&%ed in line with valyarion reports submitted by the project manager. STEM Centre fund The STEM Centre Fund relates to donaiions received for th¢ purwse of building a new STEM Centre. This is very much in its infancy aTEd expenditure relates io design development. Fl in sch I fund The F l in Schools Fund relates to money set aside for the School'5 Cotiiputer departmeni for a specifi¢ Fomiyla l in Schoo15 proje¢t. Events fund Th¢ events fund is used forevents held by the wholly own¢d subsidiary llndertaktng, The Calne Foundation Trust and usu8]ly includes ticket Costs. Othtr re5tTl¢ted fun Other restricted funds relates io amounts received to be used for specifjc purposes. 43 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (conlinued) for the year ended 31 August 2023 20(bl RESTRICTED FUNDS.. MOVEMENTS IN THE YEAR- SCH(M)L Icontinu¢dl 2022 COMPARATIVE FIGURES- RESTRtCTED FUNDS GROUP Balan¢¢ ai I September 2021 Balancc at 31 August 2022 Transfers and Exp¢nditure gainslllosses) Income FOUndat￿on Appeal Headmisiresses Old Girls Association Mllsit Department Donations St. Mary s Charity Fund St Marsaret's Charity F￿nd Chapel Fund St Margarei's Eco Proj¢cÉ Sports Fund St. Mary's Librdry New Bursary Fund Amied For¢es Fund Capital Project5 Fund Prizes PGSM STEM Events fund Other restrict￿ funds 5,551 2,085 1,728 6.896 1,290 4,758 1,053 2.307,573 4.889.665 2,124,490 5,551 2,085 1,728 6,896 1.290 206,910 1,053 2.261.421 4,755,70? 2,095,667 204.000 11,848) {46.152} {1 i3.963) {35.454) 92.940 186.309) 324.873 384 4,229 173,675 9,508 1,469 (18,9741 (1.303} 3 15,407 550 4.229 175.175 1,798 147,707 1.500 14.581 77,000 400,998 {12.783} 70,707 Total 9,919.108 {250,477) {86,3091 9,983,320 2022 COMPARATIVE FIGURES- RESTRICflVE FUNDS SCHOOL Balance at I Septembe 2021 Balance at 31 August 2022 Transfers and Expenditure gainslllosses} Income Found&tion Appeal Headmistresses Old Girls Association Music Department Donations St. Mary's Charity Fund St Matgatet's Charity Fund Chapel Fund St Margaret's Eco Project Prizes Sports Fund Sr. Mary's Library STEM PGSM Capital Projects FuThd New Butsary Fund Events fund Equsptnent Fund Other restricted funds 5.55l 2,085 1,728 6,897 ,290 4,758 ,053 534 2,373,661 4.907,665 132,605 4,229 32,417 12,764 5,551 2.085 1,728 6,897 1,290 4,758 1,053 534 2,327,509 4.773.702 132.605 4.229 159,146 12,764 146,152) {133.963) 144,533 (17,804) 420 142,250 420 142,250 7,576,521 Total 7,629,907 144.533 1197,919) 44 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (continued) for the year ended 31 August 2023 21 UNRESTRICFED FUNDS.. MOVEMENTS ￿ THE YEAR Unrestricted Revaluation funds reserve Total Grollp Balance at start of year Retsined surplus for the year Transf¢rs and1055es 15.487,940 (364.755) 128,361 15,251,546 623.988 16,111,928 1364.7551 128,361 623.988 15.875,534 Unr¢stricted Revaluation fun(ts reserve Total Sehool Balance at start of year Retained 5urplu5 for the year Transfer5 and losses 15,509.205 (323.932} 128,361 623,988 16.133.193 (323.9321 128,i61 15,313.634 623,988 15.937.622 2022 COMPARATIVE FIGURES . LfNRESTRICTED FUNDS Unrestricted lievaluation funds reserve Total 2022 Group Balance at start of year Retained surplus for the year Transfers and gain5 15.355.070 145,132 112,262) 15,487,940 623,988 15,979,058 145,132 {12.2621 16.111,928 623,988 Unre5tTlCted Revaluatiort funds re5eTve Total 2022 School Balance at star1 of year Retained SUTplus for the year Transfers and gains 15.379,011 142,456 {12.262) 15,509,205 623.988 16,002,999 142,456 (12.262) 16.133,193 623,988 Unrestricted funds relate to donations and investment income which can be used for the geneial puryose of the Group. 45 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (Conlinued) for the year ended 31 August 2023 22 RECONCILIATION OF GROUP NET INCOME TO NET CASH tNFLOW FROM GROUP OPERATIONS 2023 2022 Net lexpenditurel l income Non-operAting ea5hflow5 eliThin&ted: Invcslmettt income Financing costs Depreciation and impairment Amortisation (Gainsylosses on inv¢stmellt5 Decrea￿{Increasej in stock In¢rea5e in debtors In¢Tea5e in eredittsrs (394.5041 194.992 1102,922) 109,058 1,162,889 2.963 (25.1771 111,334 1,474,817 3,550 100,661 (10,3771 1121,2341 391.257 3,411 (3,159,534) 3,655.544 Net cash Inflow from Group operfitions 1,275,404 2,119,823 23 ANALYSIS OF CHANGES tN NET DEBT At start of the year Other non- Cash-flows ¢ash ¢hanges Al end of the year Cash 3.127.093 1563,1401 2,563,953 3,127,093 {563.140) 2,563,953 Loans falling due within one year Loans falling due after more than one year 1293,1531 {2,270,2711 563,669 293.153 923,954 1261.258 261,258 (261258) {1,085,059) 1,217,636 653,967 24 PENSION SCHEME- TEACHING STAFF The School partieipaÉes in the Teaehers, Pension Sch¢me (England And Wales) {"the TPS") for its teaching staff. The pension charge for the year includes ¢oniributions payable to the TPS of £1.217,$8512022.. £1,123,192} and at the y¢ar.end £136,26312022.. £121,341) was accrued in respect ofcontribuiioos to this s¢hem¢. The sch(K)l opcrates a defined contribution pension seheme for noEJ-t¢a¢hing Staff. The assets of the 5ch¢rn¢ held in an entity $eparatc to the School. The pension charge for the year includes contributions payable to the fund of £248.69412022.. £225.804) and at the year end ¢oniributions toi&lling £45.517 {2022.. £35.7111 were payable to the fund and are included in ¢rediiors. 46 St. Mary, s School (Calne) (a company limited by guarantee) NOTES TO THE ACCOUNTS (contiP7ued) for the ear ended 31 August 2023 25 RELATED PARTY TRANSACTIONS mana ement ersonnel The k¢y man&8ement per50nTrel oFthe School and Group i$ as follows.. the Heads of both s¢h(x)Is', Ihe Bursar.. the Development Ditector," the Senior Deputy Head. Deputy Head Academt¢ and Deputy Head Pastoral at St. Mary's; and the Deputy Head Academic. Deputy Head Pastoral at St Margaret's and the Govemors. The total a]])ouRt of employee benefits (including employer pension contribution5 and employers, Nt) re¢ei¥¢d by key managemetlt petsonnel for their 5erwÉce5 to the Group were £1,285,09612022.. £1,020.401). Transactions with related arties During the year the School received donations of £109.294 {2022.. £144.533} from the wholly owned subsidiary ndertaking, The Calne Foundation Trusi (CFTI. The CFTJEceived £nil (2022.. £nill from the School. Atthe balattc¢ sheet date the CFf owed the School £70,20812022'. £nill. During the year the S¢hool received income of £25,000 12022.. £25,000) from the wholly owned Subsidiary undertaking. St. Mary's School Icalne) Services Limitcd, and made purchases of £248,875 (2022.. £249,747). At the balance sheet date the subsidiary owed the School £131.92012022-. £nil}. Donaiions and pledges totalling £257.342 (2022.. £390,342) w¢r¢ received IJJ the year. of which £15.390 12022.. £52,290) w¢re made to the Foundation by Trustees and their spouses. During the year the School made purchases of £95012022.. £1.151 J frorn Adde & Co Limited. an entity controlled by a Trustec. The balance outstanding at the year end was £nil131 August 2022.. £nil}. 47