St. Mary's School (Calne)
(a company limited by guarantee)
GOVERNORS, REPORT AND CONSOLIDATED ACCOUNTS
for the year ended
31 August 2024
Registered Charity Number 309482
Company Registration Number00235572

St. Mary, s School (Calne) (a company limited by guarantee)
CONTENTS
PAGE
Govemors and Advtsers
Annual Report of the Governor5
2-17
Independent Auditor's report
18-21
Consolidated Statement of Financial Activities including Income and Expendkture Account
22
Balance Sheets
23
Consolidated Statement of C&8h Flows
24
Notes to the Ac¢ounts
25-48

St. Mary's School (Calne) (a company limited by guarantee)
GOVERNORS AND ADVISERS
GOVERNORS AND CHARITY TRUSTEES
The St Mary's School (CaIne) Governors are the Charity Trustees of the School. The following Governors seTred
throughout the year ending 31 August 2024 and up to date of approval:
Mr Svante Adde (Chair)
Mr5 Vi¢ky Wilson (Vice Chair)
Ms Catherine Bell
Mr Robert Cutler
Mrs Deborah Harris (Chair of the Education Committee)
Mr Martin Harris
The Revd Canon Michael Johnson
Mrs Pamela Morris-sykes (Chair of the Finance & General Purposes Comrnittee)
Mrs Patricia Pearce (Chair of the St Margaret's Committee)
Member of the Finance and General Purposes Committee
Member of the Education Committee
Member of the St Margaret's Committee
Governor with spe¢ial responsibility for Safeguarding
The Governors are cleded by existing members and subject to re-election after four years.
The following senior staff attend all meetings of the Governing Body and its ¢ommittees and are the key management
personnel of the ¢harity'.
Acting Head. St Mary's School
Mrs Diana Harri50n (Appointed I September 2023)
Headmaster. St Margaret's Preparatory School
Mr Luke Brornwich (Resigned 31 August 2024)
Interim Bursar, Clerk to the Governors and Company Secretary
Mr Ed Helling5 (Resigned 31 March 2024)
Bursar, Clerk to the Governors and Company Secretsry
Mr D St John Parker (Appointed l April 2024)
Regiglered Office..
St Mary's School
63 Curzon St
Calne
Wiltshire. SNI I ODF
Website: www.
tma
www.stmar
calne.or
arets
re
ADVISERS:
Bankers
HSBC Bank PIC
Chippenham CommeTcial Centre
2 Market Place
Chlppenham
Wiltshire SN15 3HE
Solicitor5
Veal¢ Wasbrough Vizards LLP
Narrow Quay House
Narrow Quay
Bristol BS14QA
Auditors
RSM UK Audit LLP
Davidson House
Forbury Square
Reading
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 2024
The Governors of St Mary'5 School (Calne) {the Charity). in¢orporating St Margaret's Preparatory School, present their
Annual Report for the year ended 31 August 2024. together with tlle auditsd consolidated financial statements for the
year, in a¢¢ordance with the Companies Act 2006. the Charities A¢t 2011. the Accounting and Reporting by Charities
Statement of Recornmended Practice (Charitie5 SORP), and the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102).
REFERENCE AND ADMINISTRATIVE INFORMATION
The School was founded in 1873 and incorporated as a Cornpany Limited by Guarantee in 1928 (company number
00235572). It is registered with the Charity Commission (charity number 309482). The Governors. executive officers,
registered offIce and professional advisers are shown on page l.
STRUCTURE, GOVERNANCE AND MANAGEMEIYT
Governing Documént
The Charity is governed by its Memordndum and Articles of Association dating from 1928 and last amended in 2008.
Governing Body
There is one Governing Body for both St Mary's School and St Margaret's Preparatory School. The governors act as
trustees for ¢haritable activities of St Mary's School Calne and are also directors for the purposes of ¢ompany law.
Recruitmenl and Training of Governors
Governors are elected by the Governing Body on the basis of qualifications, experience and recommendations fiDm
within the school community. New Governors are inducted into the workings of the Charity at briefing5 conducted by
the Heads, the Bursar and other senior stsff.
Governors are also provided with opportunities to attend training progrdmme5 and cOnfe￿nee$ on governance and
educational issues, and are regularly updated on matters relating to their legal and statutory obligations.
Organisalional Monagemenl
The Governing Body meets each temi, as do the St Margaret's and Finance & General Purposes (F&GP) Committees.
The Education Committee meets once per term. Committee meetings are nornially held in advance of the main Board
meeting, so that relevant reports can be made and appropriate decisions taken.
The operational management of the schools is delegated by Governors to the Heads. supported by their respective Senior
Leadership Teams (SLT). The Bursar and the Director of External Relations are members of the SLT at each school. The
Heads, Bursar Dtrector of External Relations, Executive Director of Sport and the Director of Sitewide IT meet together
regularly 8S the Executive Leadership Team (ELT), led by Mrs Diana HarTison, the A¢ting Head of St Mary's.
Both Heads attend all meetin8s of the Governing Body and the F&GP Committee. The Acting Head of St Mary's attends
meetings of the Education Committee and the Head of St Margaret's attends meetings of the St Margaret's Committee.
As Clerk to the Governors, the Bursar attends all meeting5 of the Governing Body and its committees (except the
Education Committee. unless required).
During 2023124, the Goveming Body changed the operational structure of the Charity. 50 that the new Head of St Mary's.
Mrs Anne Wakefield. will r¢port to the Governors on behalf of both St Mary's and St Margaret's. This change will tske
effect from I September 2024. when a new Head of St Margaret's will also be appointed- on his appointment to this
position, Mr Alex Hopkins will report to Mrs Wakefield as part of the new Leadership Team.
Group Structure and Relallonships
The Charity has a wholly owned non-charitable subsidiary. St Mary's School (Calne) Services Limited. registered
company number 04111368, whose a¢tivities and trading results are shown in notes 3c and l O to the Financial Statements.

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
On 27 April 2012, The Calne Foundation Trust (CFT) was incorporated as a company limited by guarant¢e (and not
having a share capital), registered company number 08049046 and registered charity number 1147327. The principal
objects of the CFT are 'lo advance educalion by ihe provision offvnding, ￿SIs1anee and supporl lo Sl Mary's Sckool,
Calpje and St Margarel s Preparalory School, Calne. being the consliluenl schools of Ihe School Charity and by oiher
associaled educational aclivilies (in sofar ihey shall be charilablE) and (savefor purposes incidenlal and ancillary
lo ihose objects), no otherpurposes.
The financial statements for St Mary's S¢hool (Calne) Services Limited and the CFT for the period ended 31 August
2024 have been consolidated within these group financial statements. The results of these entities 8re shown on note 3¢.
Risk Manogemént
The Govemors maintain oversight of the risks fa¢ing the Charity as an educ2tional trust as well as the Schools as operating
entities. Major risks. including large scale building projects and debt management, are assessed and the systems and
procedures designed to mana8e those risks are reviewed. Governors are satisfied that major current and future risks have
been identified, prioritised and appropriate mitigationlavoidance measures put in place. Appropriate insurance cover,
in¢luding Governors, third-party indemnity insurance, is in place.
The key internal controls to manage and mitigate risks are:
formal meeting agendas and rewrds for all meetings of the Governing Body and its ¢ommittees;
committee tern?s of reftr¢n¢e, regularly reviewed and updated.
ongoing review of strategic and financial plans;
monthly financial management and key metrics reporting;
regular reviews of key poli¢ies-
clear authorisation and approved levels of expenditure:
regular appraisal of the Heads and Bursar.
self-appraisal of the Governing Body. and
opportunities for Governors and senior staff to receive regular updates on chang¢s to legal and operational
frameworks.
The principal risks CU￿entlY facing the School can be separated into those which are exclusively driven by external
factors where the school can only mitigate against the effects of the risk crystalli5ing. and those items where the school
has greater control over the o¢cutrence of the risk. The principal risks driven by extemal factors are..
the imposition of VAT on school fees and the loss of Mandatory Business Rate Relief. The new Government's
policy is being carefully reviewed by the Governors. We continue to examine and reduce costs where appropriate
in order to keep fees as low as possible without compromising the quality of education and pastordl care offered
a significant fall in pupil numbers as a ￿s￿1t of VAT, or, due to prolonged econornic downturn. Fees are set
annually, with a wide range of factors tsken into account in¢ludtng parental affordability. future plans, and
protecting the quality of the schools. Competitor fees are taken into account only in so far as infomiation is
available publicly
a fitrther increase in the level of employer contributions to the Teachers, Pension Scherne (TPS). Governors
recently consulted with teaching staff and agreed a phased withdrawal from TPS, meaning that no new
employees will join the scheme.
prolonged high inflation resulting in increased operating costs. Budgets are set to include anticipated inflation.
Any prolonged period of high inflation will mean a review of fees and fijrther examination of Gosts
the effects of climate Change and the costs of taking remedial action. Governors have agreed to instal solar
panels and we have a comprehensive survey for installing LED lights. other action5 are detailed on page 17.
Costs for these investments, which will also benefit the schools in ternis of reduced energy costs. are being built
into our medium tern) planning.

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
The principal risks over which the school h&8 ￿ater control are:
failure to generate a sufficient surplus. Budgets are set and results against budget are monitored monthly.
Governors review 5 year plans and related cash flow forecasts on a regular basis. aiming to reduce financial
risks and improve perfonnance
failure to attract and retain pupils. Markeling is given a high priority and is resourced accordingly. Our retention
rates have historically been good and we put continued focus on this area
failure to attrnct and retain staff. Staff are offered competitive salaries as part of an attra¢liv¢ packa8e. Ongoing
training and weer development is also offered
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
Charitable Objects
The Charity's Object5, as expressed in the Memorandum of Association, are 'lo carry on l￿dma1n1aIn Ihe Schoolfor IhE
educaÉion ofgirls andyoung children as day scholars andas boarders. or day scholars only. in accordance Tvith the
principles of ihe Church of England and to provide a sound religious educalion foi. gir13 and young childrep7'.
Accordingly, the Charity must manage its finances, maintain its premises and facilities to an appropriale standard, employ
staff with suitable qualifications and experience and fulfil its obligations as both a charity and a registered business.
In accordance with its ObjeGts. the Charity provides education at its Calne campus for boys and girls aged 2-11 (St
Margaret's Preparatory School) and girls aged 11-18 (St Mary's School). Boarding faci5ities are provided al St Mary's
School and wa5 extended to St Margaret's Prepardtory School at the start of the academic year.
Governors also seek to provide public benefit through the Schools. operations, as detailed on pages 5 and 6 and within
the Schools, operdtional reports below.
Slrntqlc Alffts & Objeclives
St Mary's School and St Margaret's Preparatory School together represent a Christian Foundation that w¢lcom¢s pupils
and staff from all faiths.
St Mary's strategic aims are:
Ambition
Deliver a tailored and specialised curriculum to inspire a love of learning and enable our students to
achieve top ¢lass a¢ademi¢ results.
Guide and support every student to challenge themselves and reach their full potential.
Prepare our students for higher education, care¢rs. l¢ad¢r5hip. and the challenges of a fast-changing global
world.
Opportunity
Deliver a breadth of a¢ademi¢ and ¢04urricular opportunities to meet each student's ability, needs and
interests.
Create opportunities for adventure, exploration 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 vibranL warni, open and inclusive Community, where Ix)arders and day students live with empathy
and respect.
Encourage our students to become proactive, engaged citizens who rnake a positive diff¢r¢n¢e to the
world.
Connect, collaborate and cornmuni¢ate with our dynamic, supportive and extensive alumnae network.
Innovation
Spearhead research and practice in adolescent developrnent.
Foster creativity in the arts and sciences. encouraging freedom of thought and self-expression.
Embrace new developments in technology to prepar¢ our students for the future.

St. Mary's School (Calne) (a company Iimited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
St Margaret's overarching aim of 'lnspiring Excellence, seeks to ensure that each pupil aspires lo fulfil his or her
potential. This is Unde￿Inned by four key pillars:
Igniting inter¢sts
o W.B. Yeats wrote that education is not the filling of a pail. but the lighting of a fire. We wholeheartedly
agree and as a result teaching throughout the school is tailored to inspire each individual child. meeting
his or her needs with both class and specialist subject teacher5, SUPPOrted by an extensive array of
resour¢es and technology. Children are encouraged to evaluate their own learning and, wilh suppott
identify their next steps.
Nurturing individuality
Our family-focused approach allows us to work with 'Parents as Partners, to truly understand each
Child and to ensure they feel understood. valued and secure. This helps us to nurture their individuality
by encouraging meaningful relationships amongst peers, teachers and the wider school community.
F05terÉng exploration
We provide a trusted environment that enables our Ghildren to feel secure and ultimately have the
confidence to take risks. By encouraging posittve relationships and time to reflect, we help them
understand that making mistakes is part of learning and developing.
ReAlising potentiAI
We understand that every child is unique. We are committed to developing a culture of learning where
pupils seek to be the best that they can bc. By working together on an individual level, we inspire our
pupils to make sure they reach their full potential. Our Ghildren learn to understand that success requires
perseveranc< courage and integrity. By establishing a growth mindset, we ¢an ensure continual
improvement and the highest standards of expectations and achievement for all.
Objeclivesfor ilie Year
St Mary's objectives for the year were to:
Appoint a new Head.
Embed the 'Win Your Own Race. academic strdtegy.
Establish collaborative 'learning walks,.
Review the provision of enriching scholarship opportunities.
Listen to pupils. concems relating to Wellbeing and implement ways to discuss these within the curriculum.
Engage with parents about the effe¢tiveness of support available forthem and their Children and amend provision
as necessary.
Consult with all staff about their confidence to support pupil wellbeing and implement any additional provision
required.
To follow up with those who engaged in the 150th anntversary programme of events, and research, identify and
ultivate other prospective donors who can support the Chrysalis Campaign to raise money for transformational
bursaries.
To develop and strengthen further our relationships wilh Prep SGhools and prospective parents both in the UK
and overseas through a structured progrdmme of events, visits and activities with particular emphasis on the
Lower School.
To build our social media presence by effectively engaging with current and prospective parents, and the wider
community, promoting our s¢hool's unique educational offerings and vaIue5 and fostering a sense ofbelonging.
Identify options for adapting to V AT on fees. loss of MBRR and other threats.
St Margaret's Objectives for the year were to..
Further develop the teaching of early reading by embedding Success For All Phonics programme in EYS and
Pre-P￿p.
To enhance the use of pupil achievement dats for all staff including Middle and Senior leaders by developing
the use of tNSIGFrr data tracking at all levels of the organi5ation.

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
st 2024
To enhanGe staff CPD by utilising an online platfomi (GTT) for professional learning in order to conttnue to
promote high quality teaching and learning.
To familiarise all stakeholders with the new ISI Inspe¢tAon Framework and begin to prepare for full inspection
that is likely to occur in 24125.
Planslor tltef4lure
There are no plans to alter the Charity's Objects or the Schools. Strdtegi¢ aims. Governors are satisfled with current
progress, but there will be continued emphasis on increasing pupil numbers over the medium term.
Principal activilies olthe Year
During the year St Mary's Schi)ol averaged 348 pupi15 (2022-23: 347) of whom 297 were boarders (2022-23: 291). St
Margaret's averaged 166 pupils (2022-23.. 174).
Public Benefik
The Governors are ￿llY aware of ihe Schools, charitable and public benefit obligation4 and ¢onfim that they have
complied with the duty in section 17 of the Charities Act 201 I to have due regard to public benefit guldance published
by the Charity Commlssion, and in particular to its supplementary guidance on advancing education and on fee-charging,
both with regard to the requirement to provide public benefit and in discharging their responsibilities as Iruslees.
As education providers. the Schools actively support and prornote the attainment of the highest standards in the education
sector, which includes the ongoing development of curriculum. the development of high-quality teaching and residential
facilities. and networking 2nd resource sharing with other schools as well as local and professional organisations.
During the calendar year 2023. St Mary's partnered with 17 state schools and over 1,000 stydents in maintained schools
benefitted from such activities. In particular, we worked with Springfield's A¢ademy. Kingsbury Green Academy and
many primary schools all in Calne or surrounding villages. These figures. considerably up the previous year in 2022 have
been sustained in 2023. Over £47,000 was also raised for charity during the ￿adeMiC y¢ar 20234. This was particularly
high as additional and unforeseen pupil initiatives to raise ￿ndS for Young Minds in memory of a teacher who died
attracted a lot of support. Charities included the local Calne Food Bank. the Doorway Project, Save the Children, Loving
Humanity and Lyme Disease UK.
This year we have had all Lower Sixth students volunteering in the community for an hour a week. Of these. 19 were
placed at Springfields Academy, several visited elderly resident5 at Penn Court. 8 volunteered at local NHS hospitals in
Chippenham and Savernake (this involve5 a 2 hour placement for a minimum of6 months following a fomal application,
interview and induction process) and the remainder of Lower Sixth were placed in a variety of primary sGhools in the
Calne Area including Fynamore, Marden Vale, St Ed￿Unds, Cherhill. Hilmarton and Heddington where they may have
been classroom assistants, listened to reading or in some ¢ases led specific projects such &$ a Classic5 or languages Club.
In addition. a popular placement has been volunteering wfftth the local Girlguiding units. 17 LVI pupi15 5UPPOrted
Rainbows. Brownies and Girlguide units, properly integrating them5¢1ve5 in the local community and making adifference
to the Chtldren attending.
We attend the Calne Area Heads meetings which plan future partnership projects. We nornially seek to invite all of the
local primary schools in this cluster to participate in any partnership activities. The fonnat of projects can vary
considerably from hour long ones such as the Chemistry Week workshop. to day-long workshops for example an Art and
Lacrosse festival, as well as those which are ongoing 5uGh as Dance workshops. or th¢ Major Minors local Choir which
has flourished over recent years and now perfomis at local community events.
St. Margaret's Community Art Workshops were proud to host a range of creative and educational activities, engaging
local children and educator5 alike. A standout event was the Funky Pigs workshop, designed for children in Years 2 and
which was held in support of the Calne Music and Arts Festival. The workshop gave young participants a unique
opportunity to explore ¢reativity through a fun, animal-themed art project. Additionally, our PopArt workshop welcomed
children from Years 4, 5, and 6 from various local schools, offering them an exciting introduction to this bold and
colourful artistic Style. Furthennore, we expanded our support for Early Years education by hosting a twilight CPD
session on Purp03efyl Provision in Ihe Early Years. led by Miss Alanda Phillips. This session was attended by
professiona15 from local nursery and EYFS settings, equipping them with valuable strategies to enhance learning in early
childhood environments.

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
Further development of these activities is continuin& with projects increasingly being devised in collaboration with other
schools. Impact evaluation is also belng planned for future events.
Both schools rnake provision for children for families who would not otherwise be able to afford their fees to benefit
from the excellent education offered. During the year £1,439,023 (2022-23 £1,297,098) was directed to scholarships,
grants and bursaries from unrestricted funds. This amounts to 7.vh of gross fees.
St Mary's offer5 scholarships and exhibitions to talented girls at I1+, 13+ and forenty into the Sixth Forni. A scholarship
award means that parents rnay apply for means-tested fee assistance of up to 100 % of the fees. During the year, 21 girls
were in receipt of such awards. In addition. St Mary's offers an i i+ Foundation Scholarship, an A¢ademic award for
pupils Coming from a State Primary School. whiGh can offer up to 100 % fee remission. During the year there were 6
Foundation Scholars at the school, including girls on IOOYO and 95 % fee remission. 37 girls were in receipt of means
tested bursaries, 9 of whom received bursaries of 800/0 or more of fees. There were also 7 girls at St Mary's through the
SpringBoard programme, 2 of whom were fully funded by the school.
St Margaret's also offers means-tested bursaries. During the year 24 pupils were in receipt of 5u¢h awards, 5 of which
were at 700/0 or above.
19 pupils across both schools were in receipt of a military bursary. St Mary's is also a partner with Radley College and
Downe House in the Anned Forces Fund, which was set up to help educate the children of servi¢e men and women killed
or wounded whilst serving their county.
The schools also provide, where pos5ibl¢. hardship awards for the families of existing pupils where a change in financial
ir¢umstance5 means they are no longer able to pay fvll fees.
Employee Involvement and Equal Opportunilie5
Both teaching and non-teaching staff are provided with inforniation on Tnatt¢rs of concern to them, and of factors affecting
the perfom1ance of the schools, through regular meetings and presentations. Employees are enc()Urn8ed to raise matter5
for discussion as appropriate and are consulted. usually infonnally. on matters likely to aff￿t their interests.
Senior members of staff are regularly given the opportunity to brief Governors on matters of interest within their
department, and Governors are encouraged to engage with staff. ask and answer questions whenever they visil the school.
The Governors are committed to ensuring equality of opportunity in recruitment and employmen( with all applicants and
employees receiving equal treatment regardless of gender. sexual orientation, maritsl status. rac4 colour. nationality,
ethnic or national origins, religious belief, age or disability- We recognise that disabled people may hav¢ special
requirements and will make reasonable adjustments to interview procedure5, work arrangements, premises, job design
and training where necessary.
Volunleers
The Governors give freely of their time and the Schools ar¢ very grateful to th¢m for doing so. In addition, St Mary's
School benefIts from the support of the Calne Girls Association (CGA) and the Parents. Guild of St Mary's School
(PGSM), whilst SÉ Margaret's Preparatory School enjoys the support of an active Parents, Association. All three
organisations helped with fundraising and cultural activities throughout the year. and Governors are thankful for the
contribution these groups make towards the enhancement and progress of both S¢hools.

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
STRATEGIC REPORT
REVIEW OF THE YEAR
STMAR Y'S SCHOOL
The academic year starting in September 2023 was very successful with strong outcome5 for pupils in all &8pects of
school life: Academic, Pastoral and Co-curricular.
In December 2023, St Mary's finished a year of1511th anniversary celebrations, following the founding of the School by
Canon John Duncan, Elinor Gabriel and Penelope Murray in 1873. Key events to round off the anniversary year were
the Thanksgiving Service at Salisbury Cathedral led by Bishop Edward and the production of the Sound of Musi¢ which
included pupils across the school age range.
Tragically Spring Term 2024 saw the death of two members of staff.. Mr Paul Watts and Mr Justin Leang both members
of staff are commemorated by plaques In the s¢hool Chapel and a service was held tr) dedicate the plaques in the Summer
Terni.
Academic
The School supports Ihe academi¢ development and progress of around 350 pupils. A broad and enriching Gurriculum is
offered throughout all stages of the school and girls thrive in the small class sizes with the support of the teaching, House
and support staff.
St Mary's Calne is proud of the culture of academia that comes from the high aspirations. industy and flair shown by
pupils throughout the School. Teachers. Houses and Support Staff all help pupils to do their very best academically and
achieve excellent outcomes. both in relative and absolute tems. Pupils are empowered to 'win their own ra¢e.' We
celebrate a breadth of fantastic achievements in a variety of subject disciplines and across the whole attainment ran8e.
Last year we launched 'Win Your Own Race, as our academic strategy which aimed to challenge the top. support the
middle and scaffold the tail by looking to consciously develop and improve the way we differentiate in the classroom.
Thi5 linked with our pre-existing Connected Teaching and Leaming policy that envisioned pupils being connected across
subjects, digitally, with teachers and with the wider community to allow pupils and teachers to break free from silos and
collaborate. The key message throughout the year was that we celebrate success in a variety of subje¢ts, both in absolute
and relative terms.
We are delighted to celebrate the achievements of our 2024 Leavers who, as a year group, have made a hugely positive
impact on the community of St Mary's Calne. They have contributed as leaders, role models. eco-warriors, and
Champions of Charity and, while doing this, they have also studied hard and achieved an exceptional set of A Level results.
with 23Yo of grnd¢s at A* and a value added score of +0.6. An extraordinary set of six girls have achieved A*s a¢ross all
their A Level subjects.
Our Leavers will be heading off to a varlety of first-class universities to read a broad range of subjects. Destinations
include Oxford, St Andrews. Durham, Exeter, Newcastle. Bristol, Cardtff and Manchester. Congratulations to our
students who have worked exceptionally hard to gain thelr places at these universities.
At IIGCSE, an outstanding 63 % of all examinations taken were awarded grade 8 or 9 with 371/0 achieving the top grade
of 9. An incredible four gir15 achieved straight 9s across all their GCSE subjects. In total, 821/10 of examinations tsken
were awarded grades 9-7 (equal to A*.A in the previous grading system). The value added for the results was a highly
impressive +1.5, meaning that on average each pupil achieved over one grade hkgher than expectation5.
Scholarships and Exhibitions continue to be offered to tslented girls looking for enty at I1+. 13+ and the Sixth Fonn.
Whilst these are largely honorary awards, families whose daughter have been offered a Scholarship or an Exhibition may
apply for a m&4ns-tested Bursary (see Public Benefit section above).
TheArts
Our first whole school musical for years, The Sound of Musi¢, kicked off in the year in fine style. while also providing
the dramatic climax to the school's 150th anniversary celebrations. A superb cast dazzled three packed houses with
brilliant individual perforniances and ensemble sequences which brought all the classic songs to life- Climb Every

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
st 2024
Mountain, Do-Re-Mi, Sixteen Going on S¢venleen, So Long Farewell, Edelwciss. and of course the title song (beautifully
sung by Evie Medcalf as Maria). A genuine collaborative effort between Drama & Music, the hard work of all staff and
students involved definitely paid offl. This was followed by Mrs Friends whimsical production of A MidsummerNighi's
Dream for 4 on Tour, which took place at the Corsham Pound Arts Centre, and a lovely Roald Dahl revue by the LIV
and Mtv. which included sections from Fantssti¢ Mr Fox. Charlie & the Chocolate Factory and some very gruesome
scenes from The Twits! With our customary Dan¢e Show bringing us and Heddington School together, and our LVI
fomi takin8 theEdinburgh Fringe by stonn with Rapunzel, it was another fiill and thrivingyear for the Dramadepartment.
The music department started the year preparing for the1501h Thanksgiving Service at Salisbury Cathedral with a massed
choir of over 100 singers. This came the week after the annual Cecilia James Music Festival and Company Shout which
were raucous and impressive as always. The rest of the year was as busy as usual with visits to Fairways, St. Andrew's
Lodge and Marden Court. finishing with the Carol Service at St. Mary's Parish Church in December. The new year was
launched with the Sir Tim and Sir Bryn Vocal Prize Night ￿MpetitIon in January, the Merton College Oxford Choral
Scholarship Workshop Day in February and Open Mi¢ Night at the end of the month. As usual, we attended the
Pangbourne Piano Festival at the beginning of M￿h before rounding off the term wilh our Spring Concert at the
Wiltshire Music Centre. The end of April saw the yearly Fourth Forni Music Festival with every member of the Ivth
forni participating, b¢fore a trip to Eton at the beginning of May to join the Eton and Windsor Choral Society for a'come
and Sing. evening for M02art's Requiem. Friday the 17th of May saw our inaugural evening of 'Strictly Calne Dancing,,
with music pTovAded by Big Band who ended up playing for over two ho￿￿. Throughoul the year we kept a busy timetable
of inforn]al lunGhtim¢ ¢on¢erts, music scholars. perforniance masterclasses and services at St. Mary's Parish Church.
This past year has been exceptionally busy for the art department, culminating in a week-long exhibition at Gallery
Different in London in early November. This event was a highlight of our 150th Anniversary celebrations, 5howca5ing
the talent and creativity of current pupils, alumnae, and artists from our school community. Throughoul the year. the
department has actively engaged with the co-curricular life of the school. offertng a variety of workshops led by both
tea¢her5 and students. These initiatives have enriched our students, artistic experience5 and ft)5tered a sense of
collaboration and creativity- One particularly exciting project involved using maths to design ¢¢ramic tile4 blending art
and mathematics in innovative ways during our enrichment weeks. Additionally. we are proud to announce ihat several
student art pie¢cs have been selected for exhibition at the annual Young Art competition at the Royal College of Art,
with two pieces receiving Highly Commended awards. These accolades reflectthe hard work and dedication ofouryoung
artists. As we look forward to more opportunities to celebrate and showcase ar¢ we are excited about the future and th¢
continued growth of our artistic community.
Co-curricular
Whilst the achievement of t0￿qUality examination ￿SuIts is a central tenet of the school, we also encourd8e pupils to
strive for excellence in a wide range of sphe￿S through the cfrcurriculum. Through an extensive programme of clubs
and activities we enable pupils to relish the prospect of hard work. to develop and deploy the necessary qualities of
perseverance and detem]ination; to learn how to look after their own wellbeing and lead and support others. lo think
broadly and deeply. to have an open mind. to make connections. to be bold and creative. to instil ambition and to have
an appreciation that their future lies within their grasp through their own ¢fforts. Co-curricular opportunities are the
natural envtronment to develop these habits and are. therefore, a vital and integral part of life for pupils at St Mary's
Calne. These opportunities are woven into the fabric of the day. in the timetsble. in the evenings and at weekends
Through the newly created position of DI￿lor of Co-curriculum, the quality and breadth of our ¢Owcurriculum has been
enhanced. and the &ssociated rollout of new management systems and processes has ensured that the programme is
coherenl and that evidence of attendan¢e and delivery is readily available.
The majority of teaching staff and some support stsff lead co-curricular activities, and many have taken the initiative to
provide new opportunities this year in addition to the established programme. For example, while the Writers, Guild,
Model United Nations and Young Enlerprise have remained popular, new activities emerged inGludAng the Climbing
Club, Equestrian Pilates and the Baking Club. all of which were in high demand. Sport. music and drama clubs fornied
the backbone of the co-curriculum as in previous years, and hav¢ undoubtedly helped to create high perforniing teams.
ensembles, and crew for our showcase ev¢nts.
Educational visits support the academic cU￿1culUrn and provide opportunities for outdoor and adventurous aciivities and
expeditions. St Mary's Calne offers pupils an extensive range of visits, from day trips within the UK. to residential visits
at home and overseas. Over the year there were a significant number of day trips for pupils in every year group to
museums, water sports venues, theatres. art galleries. subject-T¢lated festivals. competitions and many more places and
events. The flagship World War One Battlefields residential trip to B¢lgium forour UIV pupils was at the heartof a wide

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
range of residential trips which a150 included a Science and adventure tour to Madagascar, competitive and recreational
skiing. a History of Art trip to Paris, Tennis camp in Mallorca and the LIV adventure camp in Bude. which has been
nning for over thity years and is a fine exarnple of the ¢o-¢urri¢ular trddition being maintained at St Mary's Calne.
Sport
Sport is highly valued and popular at St Mary's Calne playing an important role in the day-to-day life of the girls. We
remain driven to provide our girls with an exciting range of opportunities and experiences.
Competitive team sport continues lo be an important feature of school life. This year there were some notable successes
and perforniances to highlight. A clean sweep at the St Mary's Cup was followed with our senior lax teams reaching the
last 16 at Nationals. There were international honours for one of our senlor pupils who was selected to represent Wales
in the Home Internationals and ftir the World Cup in Hong Kong. Another played in the Women's National Hockey
League for Bath Buccaneers. There was Netball success for the U14 and U16 both at the Area and at the Boreatton Park
Tournaments.
Our swim team finished in the top 24 nationally at Southwest qualifier for English Schools, the best result achieved by
St Mary's team. One swimmer successfully moved through County, Regional and British Nationals qualifiers and
competed at the London Aqualic Centre. At the National Equestrian Schools Championships St Mary's placed 4th overall
in the individual and 8th in the team. One pupil was selected to compete at the Junior European Championships h¢lping
Team GB to a silver medal.
On the track an impressive 17 girls qualified for the Wiltshire Schools County Championships. Our annual Sports Day
in June was a great suocess with a was a strong community feeling. Tennis has seen one of our most successful seasorts
ever on the court, testimony to the strength in depih at the ￿h0O1. In the ISGTL we finished 4th overall. Currently the St
Mary's Cale Tennis Academy gives 277 lesson5 each week.
At our annual Sports Awards Evening we were joined by 172 pupils and two Team Bath netballers who pr¢5ented the
awards and shared their journey in sport. It Was wonderful to celebrate the fantastic individual and colleclive
achievements of the girls There have also been many highlights to celebrate off the playing field. Our sports scholars
have been enjoying a development programme with Southern Sports Academy on the themes of movement, mindset, rest
and recovery. Meanwhile our sports leaders continue to thrive and have given their time generously in the wider
community and at St Margaret's Prep. This Culminated in a community primary lacrosse festlval in June whi¢h was well
received by all the local young people who attended.
We saw our first-¢ver'Parents and Guardians Lacrosse Taster Session, take place in the Autumn tem. In a similar vein
the PGSM famtly tennis tournament saw 96 participants battle it out in 3 tournaments to ¢ater for all abilitie5 and levels
of competitiveness. Both are great examples of the sense of community here. These events and he full programme
intercompany competitions. along with the CAA visits to Cotswold Waterpark. equestrian lessons at Rein and Shine, the
school ski trip to Borniio in Italy. the ski racing team cornpetition in Flaine and our annual P￿-Season tennis camp in
Palma all add to the memorable experiences on offer to the girls at St Mary's Calne.
Community
We hold the concept of service in high regard and aTe deeply committed to helping the girls become compassionate and
resilient leaders and to this end all the students in Sixth Form volunteer in the local community for at least a year.
Placements include volunteering with the NHS in local hospitals, supporting the elderly. primary and secondary sch¢xil
children both in school and at Girlguides. in addition to placements at our neighbouring school where learners have
complex needs.
Embedded in the school community is a desire to support those less fortunate and our pupils, mostly Sixth Fonners. plan
and lead fundraising events ft)r a variety of causes. In academic year 20234 the focus for the annual Charity Week was
Lyme Disease UK: motivated to fundraise whilst increase, pupils raised finds through a range of activities including an
Open Mic Night and 24 hour sponsored Tennis Coach-a-thon. In addition, pupils planned and led a charity fashion show
in aid of Loving Humanity, participated in the annual christm￿ Box Appeal, raised funds for World Down Syndrome
Day, Young Minds. We Care, Doorway. Calne Food Bank and Save the Children, raising over £47,000 in totsl
Our annual La¢rosse Festival for partner primary schools saw nearly 100 Year 5 pupils take part in an introduction lo
lacrosse that finished with a mini-lacrosse tournarnent. Pupils from St Mary's led the sessions and geTserously gave their
time to support the smooth running of the event. Our young (Y10) dance leadeTS Visita lo¢)1 primary s¢hool (Heddington)
io

St. Mary, s School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
to teach a dance routine that then features in a joint St Mary's -Heddington Dance show. Our Major Minors choir -
composed of children from local partner primary schools (often where our Lvl volunteer), dire¢ted by staff al St Mary's
and 5UPWrted by staff at St Margaret's, continued to rehearse and perfornl publicly. The Choir gives the children
confidence to stand up and sing in front of an audience, sometimes in small groups and some singing solo parts for the
very first time. The Head of Community and Partnerships eontinues to meet regularly with Heads of local schools in
Calne and the immediate area to facilitate the planning and organisation of collaborative activity.
Via transforniative bursaries through our partnership with Royal National Children's Springboard Foundation, we
supported 5 pupils at St Mary's. Two completed their education at St Mary's and have started university courses and our
remaining three are in Year 9, 10 and I l. They are all fabulous ambassadors for the partnerships who nominated them to
RNCSF programme and St Mary's.
Future Inv￿tment
To ¢ontinue providing a high-quality nurturtng environmenL the school is ¢ommitted to investing prudently in its futur
and to providing pupils with a pleasan( stimulatiug and safe environment in which to live, learn and connect with others.
Approximately 7 % of income is spent each year on maintsining and enhancing the school estate.
This year. projects included the continuation of a refurbishment of Gibbins House. the installation of LED lighting in the
main building and the music block, the refurbishment of the pupil loos in the Plumer Wing, the installation of new gales
at the main entrance to further enhance the School's safeguarding atrangements and re-surfacing of the Florence Dyas
car park.
STMARGARET'S PREP
St Margaret'5 had another successfijl year across all aspects of school life, delivering an exceptional academic edu¢atio
excellent pastoral care. and a wide range of extracurricular opportunities for our students.
Academic
Year 6 pupils undertook their Senior School entrance examinations during the Spring terni. obtsining som¢ excellent
results with all pupils re¢eiving offers from their first-¢hoi¢e schools. Leavers. senior school destinations included St
Mary's Calne, Dauntsey's. King Edward's Bath, Sionar, Kingswood, Godolphin, The Royal High School Bath, St Mary's
Ascot, Wycombe Abbey and various local state schools in Chippenham and Marlborough. We were particularly proud
that over 700/0 of the cohort were awarded scholarships and exhibitions recognising their various strengths across the
curriculurn- a total of 26 awards in total.
During the year we implemented and con501idated Changes to the GU￿1cUluM and monitoring across the s¢hool. building
on the work begun in the previous year. The main highlights were as follows:
Learning EnhancemenÉ- The P¢7lhways Progromme
We are proud to have success￿]IY completed the second year of our Pathways Programme, a leaming enhancement
initiative designed for gifted and talented pupils in Years 4 to 6. The progrdmrne aims to provide students with
opporthnities to explore learning beyond the cl&8sroom while developing a wide range of enriched skills and extended
knowledg¢. Runntng throughout the a¢ademi¢ year, it covers themes su¢h as All About Me, LeadeTship. An Introduction
, Mental Health & Wellbeing, STEM, and enrichment visits such as a fascinating introduction to Physics courtesy
of Bath Spa University. Pupils are selected for the programme based on high perfomian¢e in their Developed Ability
InCAS assessments. along with demonstrating particular strengths in either Maths or English.
Curriculuffi
The changes made to ihe English, Humanities, and Science curricula during the 2021122 academic year were further
strengthened. establishing a curriculum delivery model suited for the 2 1st Century. In English, the book-based approach
has given students a meaningful context for their learning, allowing them to apply the skills taught across the entire
Curriculum. The blocked subject approach in the wider curriculum has enabled students to fully engage with their studies,
leading to improved knowledge retention. Additional staff training ensured that all schemes aligned with National
Cu￿1¢U1uM objectives, remained relevant and challenging for our students, and showed clear. logical progression acr05S
year groups. This new approach, grounded in developments in cognitive psychology and working memory theories, has
not only enhanced knowledge retention but also increased students, enjoyment of the curriGulurn.

St. Mary, s School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
st 2024
ASs￿sMent
We are now in the second success￿1 year of using Insight, our online dats tracking tool, which we have expanded to
include individual learning plans for our SEND pupils. In addition to monitoring formative and summative assessments
from Reception to Year 6, Insight now serves as an effective cornrnunication tool between the Learning Support
Department and class teachers. It enables us to track pupil progres4 asses5 ¢lass and year group perforniance against
U￿1¢UlUM targets. and identify areas for intervention. With all historical data uploaded. Insight allows us lo monitor
children's development over ttme. from key points in Reception, Year 2, and Year 6.
Well-being
Well-being remains a major focus across the school. and a carefully planned scheme is already in motion. Our initial
emphasis has been on helping pupils settle into their n¢w Classes and promoting EASY (Enjoyment at School - Yes!)
weeks. To support this, individualised Easy Cards have been introduced for children in Year l and al)ove. along with a
dedicated board PToviding inforniation OD where to seek support if needed. Additionally, a well-being board near the
school ¢ntran¢e offers tips on how to boost personal well-being.
PASS (Pupil Attitudes to Self and School) assessments, ¢ondu¢ted from Years 2 to 6, continue to help us identify where
¢hildren may need additional support and any barriers to their leaming. These insights guide our work. whether through
individual or small group interventions.
We are also pleased to have a fully trained Emotional Literacy Support Assislant (ELSA). who is already making a
positive impact by working with pupi15 individually and in groups.
The Pastoral Team meets weekly to address child protection and well-being concerns. ensuring that issues are identified
early so we can provide timely inlernal or external "Early Support."
Sport
St Margaret's rnanage$ a ¢ompetitive reputation alongside keeping all thc children participating on a weekly basis. Th¢
exciting sports programme has spread its wings further down in Pre-Prep with the addltion of U7 athletic festivals in the
summer.
The superb on-site factlities. including 6 lane, 25m indoor swimming pool, a multi-purpose sports hall, full size all-
weather astro pitch and a competition grade climbing wall which includes varied three-dimensional climbing surfaces
for all ages throughout the school. Further development has taken place on its netball and tsnnis courts which now benefit
from tiered spectator seating.
Health Related Fitness sits firnily in the Physical Education Curriculum ft>r all pupils. This has given children increased
fitness levels and seen an overall improvement in their general well-being. Martial arts are popular with our pupils and
continues to grow. The pool is a wonderful facility which accommodates all pupils from Bluebird Nursery Ihrough to
Year 6 swimming at least onee a week. Squad swimmlng has been restructured for the academic year 2024-2025 with
the introduction of progressive swimming pathways providing training for children ai appropriate levels.
Throughout th¢ sohool year, increased opportunities for enrichment activities including water sports. outdoor pursuits
and bush¢raft are popular with our children.
Swimming and games remain a strength. where St Margaret's punches above its weight in local, regional. and national
rA)mpetitions.
Performlng Arls
St Margaret'5 has enjoyed another successful year celebrating the perfonning arts and developing pupils, ¢onfidence
across dram4 dance and music.
12

St. Mary, s School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
Aulumn Term 2023
The Harvest Festival was a great success, with a large thrnout of parents who enjoyed perforniances by the Pre-Prep,
Prep, and Chamber Choirs. Father Jonathan led the service, but we enhanced pupil involvement by featuring poetry
recitations and having Year 6 students lead the Ger¢mony.
We concluded the temi with a wonderful P￿p Carol Service in a full Chapel, following impressive and engaging
perforn]ances by our youngest pupils in the EYFS and Pre-Prep Nativities. as well as an energetic show from both the
Orchestra and Rock School.
Spring Term 2024
We launched a new concert series open to all children from Years I to 6. incorporating both Music and Drama. The
House Concerts celebrated perfonners of all levels, from early beginners to Grade 6 standard, offering younger pupils
the chance to be inspired by more experienced musicians and actors. Years 3 and 4 put on a fantastic perfomance of A
Funny Thing Happened on the Way to Camelot. featuring creative sets, lighting. and costumes that Gaplivated their
audiences. The Prep Spring Concert highlighted the talents of our choirs. orchestra, and Music Scholars.
We facilitated our main session of LAMDA exams to the Spring term. avoiding the Summer trips and events. and were
rewarded with success for all our budding actors.
Supnmer 2024
The standout perforniance of the term was the sp¢ctacular production of Joscph and the Technicolour Dreamcoat. A
brilliant set. designed by Ms. Paroussi and brought to life by Brian Merritt and the maintenance team, inspired the cast
to give their all. and the audience showed great appreciation. Rock School's popularity soared throughout the year. wlth
this temi's perfonnanre featuring two larg¢ bands, expertly guided by our guitar and drum teachers.
Music exam sessions (ABRSM. Trinity, and Rock & Pop) were held regularly. with high numbers of Distinctions and
Merits achieved. thanks to our exceptional vfftsiting music staff. Most children are now opting for live exams overrecorded
ones. and their feedback has been overwhelmingly positive - performing for an examiner in pe￿On gives them a true
sense of accomplishm¢nL
13

St. Mary, s School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The Charity recorded a surplus before investment gains and fair value adjustments of £0.6m (2022-23: deficit of £0.4m),
a net surplus of 3.20/0 (2022-23.. deficit of 2.3•/0). This excludes the results of the Calne Foundation Trust. Fees were
increased from September 2023 by 80h, following the prior year when the fee increase of 4.80/0 had been outstripped by
cost base inflation. Pupil nurnbers at St Mary's and St Margaret's rose by 3 /0 and 8 /0 at each school respectively by the
end of the academic year, and so while some cost savings were found, the overall financial result was better than expected
due to additional income.
St Mary's School (Calne) Services Limited made a deficit of £33.321 (2022-23.. deficit of £50,009).
The CFT achieved investment income of £60,328 (2022-23.. £31,713) and had a surplu5 before investment gains of
£334.529 (2022-23: £123.125). Total investment 8ains were £2.673 (2022-23.. losses of £5,310).
Fundrolsing
The Charity does not use external fundraisers. Our Director of External Relations is responsible for monitoring all
fundraising activities undertaken. The Calne Foundation Twst was established in April 2012 to undertake fundraising
and alumnae management strategies to support both schools. A key focus now As on building a strong and sustainable
Bursary Fund to support the award of means-tested bursaTies so that children from less advantaged families can benefit
from the outstanding education and transformational opportunities that we offer.
Reserves Policy
un￿strICted Funds at 31 August 2024 W¢Te £16.594.364 (2022-23". £15.875.534). all of which represented funds
deployed a5 part of premises. facilities and equipment. Restricted Funds at 31 August 2024 were £10,120,738 (2022-23..
£9.830,245) and Endowed Funds £74,862 (2022-23: £66,870).
The Charity ha5 no free reserves. This is typical of many independent schools due to the high value of fixed assets and
the n¢ed for continuing capital expenditure from retained reserves, in support of our charitable objects.
Governors, policy is to maintain adequate rese￿eS to ensure the future development of the schools. allowin8 for capital
investment to maintain and enhance the educational provision offered.
Going Concern
Cash flow projections and forecasts covering the next 5 years are reviewed in detail at each termly meeting of the Finance
& Genernl Purposes Committee. This includes Stress testing to assess the effect of any variations in the underlying
assumption5 relating to pupil numbers, fee levels, inflation and interest rates. Cash flow projections have also been
reviewed covering a period in excess of 12 months from ihat date of signature of the accounts. This analysis. together
with review of monthly management accounts and our budget process has satisfied the GovemoTS that the School will
continue to be a going concern and the accounts have been prepared on this basis.
Any operational SUTpIus is used to invest in the educational activities of the Charity. repay loans and to maintsin and
improv¢ the site, and this is reflected in the value of fixed assets on the Charity's balance sheet.
Jnvestment Objectives and Performance
Governors aim to optimise the overall return on investments within the overarching objective of 5UStaining income while
Continuing to preserve the real value of endowed investments, and to maximise income on short-temi invested restricted
funds.
Endowed Funds representing the Scholarship, Prize and Capital Funds are invested in shares in the Central Board of
Finance Investment Fund. These investments generated gains of £7.992 (2023: losses of £1,344).
14

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
RESPONSIBILITIES OF THE GOVERNORS
The Governor5 (who are also Directors of St Mary's School (Calne) for the purposes of company law) are responsible
for preparing the Annual Report of the Governors and the financial statements in accordance with applicable law and
United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice). Company law
requires the Governors to prepare flnancial statements for each financial year that give a true and fair view of the state of
affairs of the Charity and the group and of the incoming resources and application of resources. including the income and
expenditure of the group for that period. In p￿ParIng those financial statements, the Governors are required to:
select suitable accounting policies and then apply them consistently-
observe the methods and principles of the Charities SORP-
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material departure5 disclosed
and explained in the financial statem¢nts' and
prepare the financial statements on the going concern basis unless it is inappropriate to presume thatthe Charity
will continue in business.
The Governors are responsible for keeping proper accounting records that disclose with reasonable a¢¢uracy al any time
the financial position of the charitable company and the group and which enable them to ensure the financial statements
comply with the Companies Act 2006. The Governors are also responsible for safeguarding the assets of the charitsble
company and the group and hen¢e ftjr taking reasonable steps for the prevention and detertion of fraud and other
irregularities.
The Governors confjmi that they have complied with the duty of Section 4 of the Charities Act 2011 to have due regard
to the Charity Commission's generdl guidance on public benefit.
The Governors have referred to the guidance in the Charity Commission's gen¢rdl guidance on Publi¢ Benefit when
reviewing the School's airn5 and obje&iv¢s and in planning the S¢hool's future activities. In particular, the members of
the Governing Body have considered how planned activities will contribute to the aims and obj￿tIveS that have been
arti¢ulated.
HOW THE BOARD COMPLIES WITH ITS SEcfioN 172 DUTY
Under Section 172 of the Companies Act 2006 the Board of Governors. as Company Directors, has a duty lo prornote
the long-term su¢¢ess of the Charity and in doing so to have regard (amongst other matters) to:
the likely consequences of any decision in the long t¢￿-
the interests of the charitable cornpany's employees.
the need to fost¢r th¢ rharitable company's business relationships with suppliers, customers and othcTS'
the impact of the charitable company's operntions on the community and the environrnent.
the dcsirability of the charitable company maintaining a reputation for high standards of business conduct. and
th¢ need to act fairly as between members of the charitable cornpany.
The Charity is govemed in accordance with the struGthr¢ outlined on page 2. Governots are responsible foT strategic
planning and policymaking and, accordingly, all key de¢isions relating to these are taken by the Board. As set out on
pages 5 and 6, the Charity has developed. and will continue to foster. partnership5 in the community. This is mutually
benefi¢ial: it gives our pupils a sense of responsibility and service to others. and helps to widen access to facilities and
education for local children. Through membership of HMC. IAPS. AGBIS and ISBA, and through networking with peer
group5, we ensure that we are able to atlain the highest standards of quality and perfornianc¢.
Details of how the Charity has engag¢d with employees and had regard to employee interests and can be found within
the Employee Involvement and Equal Opportunities section on pages 6 and 7. Below this on page 7 there are details of
our volunteers.
We believe that the success of the Charity in meeting its charitable aims is demonstrated throughout this report.
15

St. Mary's School (Calne) (a company limited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
STREAMLINED ENERGY & CARBON REPORTING
We are required to report on greenhouse gas emissions and energy use data for the financial year.
The transport. LPG and domestic property consumption is small and has been excluded from this report as it is de
minimis. Otherwise, key data for the site is summarised as follows:
UK GHG Emission and Ene
Dats
2023-24
2022-23
2021-22
2020-21
2019-20
Energy consumption used to
cgleulate emissions (kwh)
4J05,803
4,573J35
4,973562
4,917065
4,843J99
S¢ope I: Emissions from the
eombustion of Naturdl Ggs tC02e
537.33
581.63
640.73
660.68
657.33
DEFRA Conversion Rate for Gas
U5¢d in above calculation
C021kWh
0.18
0.18
0.18
0.18316
0.18387
Scope 2: Emissions from purehased
Eleetricity tC02e
DEFRA Conversion Rate for
Electricity used in above calculation
C021kWh
277.33
277.91
273.43
278Jl
295.57
0.21
0.207074
0.19338
0.21233
0.23314
Total gross Cole based on above
(tclhe)
Intensity Ratio l.. tonnes Coze gross
based on mandatory fields above per
metre square of Gross Internal Area
tonne C02e m-
814.66
859.54
914.16
938.99
952.90
0.032
0.034
0.036
0.037
tonnes
C02e m-2
0.038
tonne5
Cole
tonnos
Cole
tonne5
Cole
tonne$
C02e m-2
Gross Internal Area used to calculate
25,438m'
25,438rn'
25,438rn'
25,438m'
24,813m
(new library added 2020 @ 625m')
Intensity Ratio 2: tonnes CO2e gross
based on mandatory fields above per
pupil
1.55
tonne
1.65
1.75
tonnes
C02e I
Pupil
1.8 tonnes
C02e I
Pupil
1.8 tonnes
C02e I
Pupil
tonnes
C02e I
Pupil
C02e I
Number of pupils used to calculate
525
521
522
522
529
16

St. Mary's School (Calne) (a company Iimited by guarantee)
ANNUAL REPORT OF THE GOVERNORS
for the
ear ended 31 Au
ust 2024
ENERGY EFFICIENCY & ENVIRONMENTAL ACTIONS
The School is fully committed to improving its carbon footprint and to reducing the environmental impact of its
operations. Many of the buildings on site were constructed at a time when the importance of energy efficiency was not
so well-understood, and consequently they have poor thermal charncteristics. We have a phased progrnmme lo improve
insulation and efficiency where possible.
During th¢ year the following actions were amongst those taken to reduce energy Gonsumptton and carbon emission4
and to improve the environment..
Replaced several ageing and inefficient gas boilers and ￿ocIated plant in a number of buildings with more
efficient units.
Reduced the amount of waste going to landfill by tsking our ￿CYClIng back in house. This is segregated and
stored awaiting a singular collection, as opposed to many different trucks attending site weekly. This will also
help to reduce our carbon footprint.
Continuation of the rolling programme to introduce LED lights and motion sensors throughout th¢ school, in
particular through the rnaxn school buildings, classrooms and the Theare lighting from tungsten to LED.
Repla¢ement of approximately forty single pane Crittall wtndows for double glazing in a boarding house. This
will reduce heat loss along with our carbon emissions due to reduced energy usage.
A commitment 15 now in place to install solar panels during the next year. following an independent study to
identlfy where they should best be located. Air and ground source heat pumps will also be considered going
forwards to meet future energy needs.
Continued active encouragement of 5tsff and pupils to switch off lighls and equipment when not in use, and to
turn down rddiators where possible. Where practical. we will prioritise electric powered transport in fil￿re both
when replacing our own vehicles and when sourcing transport services.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE AUDrroR
The Governors who were in office on the date of approval of these financial statements have ¢onfirnied, as far as they
are aware. that there is no relevant audit inforniation of which the auditor is unaware. Ea¢h of the Governors have
confirmed that they have taken all the steps that they ought to have taken as Govemors in order to make themselves aware
of any relevant audit inforniation and to estsblish that the auditor is aware of that inforn]ation.
The Governors, Report and incorporated Strategi¢ Report were approved and authorised for issue by the Board of
Governors of St Mary's School (Calne) on 30 November 2024.
Mr S Adde
Chairnian of Governors
17

St. Mary's School (Calne) (a company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
for the
ear ended 31 Au
ust 2024
Opinion
We have audited the financial slatements of St Mary's School (Calne) (the 'parent charitable company,) and its
subsidiaries (the 'group') for the year ended 31 ALt8llSt 2024 which comprise the Consolidated Statement of Financial
Activities. the Group and Company Balance Sheets, the Con501idated Statement of Cash Flows and notes to the financial
statements. including significant accounting policies. The financlal reporting framework that has been applied in their
preparation is applicable law and United Kingdorn Accounting Standards, including FRS 102 "The Financial Reporting
Siandard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).
In our opinion the finan¢ial ststements:
give a true and fair view of the state of the group's and the parent charitable company'5 affairs as at 31 August
2024 and of the group's incoming resources and application of resources, including its income and expenditure,
for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnion
We conducted our audit in accordan¢e with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
financial staternents section of our report. We are independent of the group and parent charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S
Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Governors. use of the going con¢em basis of accounting
in the preparation of the financial statements 15 appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions
that. individually or collectively, may cast significant doubt on the group's OT parent Gharitable company'5 ability to
continue as a going coneern for a period of at least twelve months from when the financial ststements are auihorised for
issue.
Our responsibilities and the responsibilitie5 of the Governors with respect to going ¢on¢ern are described in the relevant
sections of this report.
Other information
The other inforniation comprises the inforniation included in the Annual Report of the Governors other than Ihe financial
statements and our auditor's report thereon. The Governors ￿ responsible for the other inforniation contained within
the Annual Report of the Governors. Our opinion on the financial statements does nol cover the other infotmation and,
except to the extent otherwise explicitly stated in our report, we do not express any forni of assuranee conclusion thereon.
Our responsibility is to read the other infomation and, in doing $0, ¢onsider whether the other infomiation is materially
inconsistent with the financial statements or our knowledge obtained in the Course of the audit or otherwise appears to be
materially misststed. If we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement in the financial statements themselve5. If, based on the work
we have pcrfonned, we conclude that there is a rnaterial misstatement of this other inforniation. we are required to report
that fact.
We have nothing to report in this regard.
18

St. Mary's School (Calne) (a company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
for the
ear ended 31 Au
st 2024
Opinions on other matters prescribed by the Companies Aet 2006
In our opinion, based on the work undertaken in the course of the audit..
the inforniation given in the Annual Report of the Governor& which includes the Directors, Report and thc
Strategic Report prepared ft*r the purpose5 of company law, for the financial year for which the financial
statements are prepared is consistent with the financial staternents. and
the Directors. Report and the Strategic Report included within the Annual Report of the Governors have been
prepared in accordance with applicable legal requirements.
Matter5 on which we are required to report by exteption
In the light of the knowledge and understanding of the group and the parent charitable company and their environment
obtsined in the course of the audit, we have not identified material misstatements in the Directors, Report or th¢ Strategic
Report included within the Annual Report of the Governors.
We have nothing to report in respect of the following matters where the Companies A¢t 2006 require us to report to you
'f, in our opinion:
adequate ￿CountIng records have not been kept by the parent charitable company. or returns adequate for OUT
audit have not been received from branches not visited by us" or
the parent charitable company financial statements are not in agreement with the ac¢ounting record5 and returns.
or
certain disclosures of trnstees, remuneration specified by law are not made. or
we have not received all the inforniation and explanattons we require for our audit.
Responsibilities of Covernors
As explained more fully in the Statement of Govemors, responsibilities set out on page 15, the Governors (who are also
the directors of the charitabl¢ ¢ompany for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view, and for such internal contToI as the
Governors deterniine is necessary to enable the prepardtion of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements. the Governors are responsible for &ssessing the group's and parent charitable
company's ability to continue as a going con¢ern. disclostng. &8 applicable, matters related to going concern and using
the going concern basis of accounting unless the Governor5 either intend to liquidate the group or parent Charitable
company or to cease operations, or have no r¢alistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statetnents
Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free from material
misstatemenL whether due to fraud or error. and to issue an auditor's report that in¢ludes our opinion. Reasonable
a55urance is a high level of assuran¢e, but is not a guarantee that an audit conducted in a¢¢ordance with ISAS (UK) will
always detect a material misstatement when it exists. Misstatements ¢an arise from fraud or error and are considered
material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of
Users taken on the basis of these financial statements.
The extent to which the Audit was considered capable of detecting irregularities. ineluding fraud
Irregularities are instances of non-cL)mpliance with laws and regulations. The objectives of our audit are to obtain
sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the
determination of material amounts and dis¢losures in the financial statements, to perfornl audit procedures to help identify
instances of non-compliaft¢e with other law5 and regulations that may have a material effect on the financial Statements,
and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the
audit.
19

St. Mary, s School (Calne) (a company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
for the
ear ended 31 Au
ust 2024
In relation to frdud, the objectives of our audit are to identify and &8sess the risk of material misstatement ofthe financial
statements due to frdud. to obtain sufficient appropriate audit evidence regarding the assessed risks of material
misstatement due to fraud through designing and implementing approprlate responses and to respond appropriately to
fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management. with the oversight of those charged with governance, to ensure
that the entity's operations are conducted in accordan¢e with the provisions of laws and regulations and for the prevention
and detection of fraud.
Jn identifying and assessing risks of material misstatement in respect of irregularities. including fraud, the group audit
engagement team:
obtained an understanding of the nature of the seGtor. in¢luding the legal and regulatory framework that the
group and parent charitable company operate in and how the group and parent charitable company are complying
with the legal and regulatory framework.
inquired of management. and those charged with govemanGe, about their own identification and assessment of
the risks of irregularities, including any known actual,-suspected.or alleged instances of fraud.
discussed matters about non-compliance with laws and regulations and how fraud Might ocGur including
assessment of how and where the financial statern¢nts may be susceptible to frdud.
As a result of these procedures we consider the most Sl8nific2nt laws and regulations that have a direct impact on the
financial Statements ￿ FRS 102, CharitÉes SORP {FRS 102), Companies Act 2006, Charities Act 2011. the parent
charitable company's governing documen¢ tax legislation and Charities (Protection and Social Investment) Act 2016.
We perfornied audit procedures to detect non-compliances which may have a material impact on the financial statements
which included reviewing the financial statements including the Report of the Governors. remaining alert to new OT
unusual transactions whi¢h may not be in accordance with the governing do¢umenls, inspecting Correspondence with
local tax authorities and evaluating advice received from inten)allexternal advisors.
The most significant laws and regulations that have an indirect impact on the financial statements are The Education
(Independent School StaTLdards) Regulations 2014, Keeping Children Safe in Education under section 175 of ihe
Education Act 2002. and the UK General Data Protection Regulation (UK GDPR). We perfornied audit procedure5 10
inquire of management and those charged with governance whether the charitable company is in compliance with these
law and regulations and inspected correspondence with regulatory authorities.
The audit engagement team identified the risk of rnanagement override of controls and income recognition as the areas
where the financial statements were most 5us¢eptible to material misstatement due to frdud. Audit procedures performed
included but were not limited to testing manual journal entries and other adjustments. evaluating the busine55 rationale
in relation to significant, unusual transactions and transactions entered intr) outside the normal course of business.
challenging judgments and estimates and perfonning substantive test of details over a sample of donations and other
income.
A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting
Council's website at h
ww.fr¢.or
.uklauditorsres
onsibilities. This de￿rIptIon forms part of our auditor'5 report.
20

St. Mary's School (Calne) (a company limited by guarantee)
tNDEPENDENT AUDITOR'S REPORT
for the
ear ended 31 Au
ust 2024
Use of our report
This report is made solely to the charitsble company'5 members. as a body, in a¢¢ordance with Chapter 3 of Part 16 of
the Cornpani¢s A¢t 2006. Our audit work h&q been undertaken so that we might state to the charitable company's
members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest
extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charitable Company and the
charitable company's members as a body, for our audit work, for this reporL or for the opinion5 we have fomied.
KERRY GALLAGHER (Senior Statutory Audltor)
For and on behalf of RSM UK AUDIT LLP, Statutory Auditor
Chartered Accountants
David50n House
Forbury Square
Reading
Berkshire
RGI 3EU
Date:
21

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 2024
Total
Funds
2024
Total
Funds
2023
Unrestri¢ted
Funds
Restricted
Funds
Endowment
Funds
Notes
INCOME FROM..
Charitable activities
School fees receivable
Other educational income
Other ancillary trading
income
Other trading activities
Investment income
Donations
3(a) 16,855,911
3(b)
287,077
16.855,911
287.077
15,551,336
273,052
3(b)
3(c)
3{b)
3{b)
293,332
693,834
120,982
2,348
293,332
693.834
157.155
437.390
277,089
652,932
102.922
257.342
36.173
435.042
Total income
18,253,484
471,215
18,724.699
17.114.673
EXPENDITURE ON..
Charitable activities
School operating costs
(16,465.720)
(337.404)
(16,803,124) (16,432.869)
Raising funds
Other trading expenditure
School financing Costs
(990.408)
(90,878)
(990,408)
(90,878)
{968,751)
(109,058)
(17,547.006)
(337.404)
(1,081,286) (1.077,809)
Total expendlture
(17,547,006)
(337.404)
(17,884.410) (17.510,678)
Net gains on investments
12J52
156,682
7.992
177.026
1.501
Gross transfers between
nds
19-21
NET
INCOMEI(EXPENDITURE)
NET MOVEMENT LN
FLfNDS FOR THE YEAR
718,830
290,493
7.992
1.017.315
(394.504)
718,830
290.493
7,992
I,Ol7.315
(394.504)
Fund balances at start of year
15,875,534
9,830.245
66,870
25.772,649
26.167,153
Fund balances at end of year 19-21 16,594,364
10,120,738
74,862
26,789,964
25,772,649
The notes on pages 24 to 48 forni part of these accounts.

Company Registration No. 00235572
St. Mary, s School (Calne) (a company limited by guarantee)
BALANCE SHEETS
as at 31 August 2024
GROUP
2024
SCHOOL
2024
2023
2023
Notes
FIXED ASSETS
Intangible assets
Tangible assets
Investment property
Investment assets
27.947,026
608,641
1.585,551
28.798.740
302.313
1,403,909
27,907.886
28,780,550
io
227.095
209,424
30,141.218
30,504.962
28,134.981
28,989,974
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
12
13
102.250
3.862.801
6,223.495
107,624
4,041.621
2,563,953
99.410
3,478.975
5,544.355
104,170
3,932,793
1,586,871
10,188.546
6,713.198
9,122.740
5,623,834
CREDITORS: Amounts falling due within
one year
14
(9.366,181) {7,966.456) (9226.535) (7,833,938)
NET CURRENT
(LIABILITIESYASSETS
822J65
(1253,258)
(103,795) (2210.104)
TOTAL ASSETS LESS CURREIYT
LIABILITIES
30.963.583
29.251,704
28,031,186
26,779,870
CREDITORS.. Amounts falling due after
more than one ye8r
15
(4.173.619) (3.479,055) (4.173,619) (3,479,055)
NET ASSETS
26.789,964
25,772,649
23,857,567
23,300.815
FINANCED BY:
Endowment funds
Restricted funds
Unrestricted funds
Revaluation reserve
19
20
21
21
74,862
10.120.738
15,970,376
623,988
66,870
9,830,245
15,251,546
623.988
64,512
7,129,752
16.039,315
623,988
59.193
7,304.000
15.313.634
623,988
Total funds
26,789,964
25.772.649
23,857,567
23,300.815
The entity has taken exemption from presenting its individual profit and loss account under section 408 of Companies
Act 2006.
The net movement in funds forthe parent charity was a incre&se of£O.56m (2023: increase of £0.47m) and the net income
for the year was £0.56m (2023: income of £0.47m).
Approved and authorised for issue by the Board of Governors of St. Mary's School (Calne) on
signed on its behalf by:
Mr S Adde
Chaiman of Governors
The notes on pages 25 to 48 form part of these a¢counts.
23

St. Mary's School (Calne) (a company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
for the year ended 31 August 2024
2024
2023
Notes
C8sh flow from oper*ting aetivities:
Cash generated by operation5
Interest paid
22
4.421,970
1.275,404
(90.878) (109.058)
Net eash from operating activities
4J31,092
1.166.346
Cash flows from investing activities:
Dividends. interest and rents from investments
Pu￿hase of tangible assets
Purchase of investment property
Proceeds from sale of investment assets
Purchase of investment assets
157,155
102.922
(347,228) (610,803)
(306,328)
13,156
(17,772)
11,666
(16,164)
Net c&sh used by investing activities
(501.017) (512,379)
C*sh flows from financing aetivitles:
Repayments of loans
(170.533) (1,217,107)
Net cash from financing Activitles
(170,533) {1217,107)
Movement in c4sh
3,659542
(563,140)
Cash and cash equivalents at the beginning of the reporting
period
2.563,953
3.127.093
Cash and eash equivalents at the end of th¢ reporting
period
6.223.495
2.563,953
AnAlysis of r#sh and cash equivalents:
Cash at bank and in hand
6.223,495 2.563.953
The notes on pages 25 to 48 fonn part of these accounts.

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS
for the year ended 31 August 2024
ACCOUNTING POLICIES
CHAIUTY tNFORMATION
St. Mary's School (Calne) is a private company limited by guarantee and incorporated in England and Wales. The
registered office is St. Mary's School, Curzon Street. Calne, Wiltshir< SNI I ODF.
St. Mary's School (Calne) meets the definition of a public benefit entity under section 34 of FRS 102.
The principal objectives ofthe school are detailed in the annual report of the Governors found on page 2 of these finan¢ial
statements. Detai15 of the School's subsidiaries and their activities are given in note 3{c) to these a¢¢ounts.
The financial statements are prepared in sterling, which is the functional currency of the Group. Monetary amounts in
these financial statements are rounded to the nearest £.
BASIS OF ACCOUNTS PREPARATION
The finanGial statements have been prepared in accordance with Accounting and Reporting by Charities: Ststemenl of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019 (Charities SOBP IFRS 102))
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The accounting poli¢ies disclosed have been applied consistently throughout the current and preceding yeat.
REDUCED DISCLOSURES
FRS 102 allows qualifying entities certain disclosure exemptions. The School only has taken advantage of the exemptions
for the following disclosure reqU1￿Ments.
Section 7 "Statement of Cash Flows"_ Presentation of a Statement of C&sh Flow and related notes and
disGlosures.
BASIS OF CONSOLIDATION
These financial Statements consolidate the assets, liabilitiC5 and results of the School. its wholly owned nOn￿￿arI￿bI¢
subsidiary St. Mary's School (Calne} Services Lirnited and its charitable subsidiary The Calne Foundation Trust on a line
by line basis. These financial Statements also include the assets. liabilities and results of The Calne Foundation Trnst. a
registered ¢harity which holds assets on behalf of th¢ School. Any intra-group transactions are eliminated on
consolidation. A separnte sta*ment of financial a¢tivities (including income and expenditur¢ account) for the School
itself is not presented as perniitted by Section 408 of the Companies Act 2006.
GOtNG CONCERN
Cash flow projections and forecasts covering the next 5 years are ￿vIeWed in detail at each tern]ly meeting of the Finance
& General Purposes Committee. This includes stress testing to assess the efftcl of any variations ID the underlying
assumptions relating to pupil nurnbers, fee levels. inflation and interest rntes. Cash flow projections have also been
reviewed covering a period in excess of 12 months from that date of signature of the accounts. This analysis. together
with review of monthly management accounts and our budget proeess has satisfied the Governors that the SGhool will
continue to be & going concern and the accounts have been prepared on this b&sis.
Any operational surplus is used to invest in the educational activities of the Charity, Tepay loans and to maintain and
improve the site, and this is reflected in the value of fixed assets on the Charity's balance sheet.
25

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
ACCOUNTING POLICIES (continued)
FEES AND SIMILAR INCOME
Fees receivable and charges for services and use of premises are accounted for An the period in which the service is
provided. Fees receivable are stated after deducting allow3nces. scholarships and other remissions granted by the Group.
Fees received in advance of education to be provided in future years under an Advance Fee Payments Scheme contract
are held as interest-bearing liabilities until either tsken to income in the lerni when used or else refunded. Investment
income eamed on them in the meantime. if exceeding the provision for any debt-financing costs arislng underthe contrac¢
is taken to a designated fund to cover any ultTmate shortfall that may arise on the Scheme.
All other types of income, in¢luding investment income. are a¢¢ovnted for on an accruals basis and when the Gmup has
entitlemenL the aTnount involved can be reliably quantified and a transfer of economic benefit to the Group is probable.
DONATIONS AND FUND ACCOUNTtNG
Donations and legacie5 are accounted for as and when the Group has entitlement, the amount involved can be reliably
quantified and a transfer of economic benefit to the Group is probable.
Donations receivable for the general puryoses of the Group are credited to Unrestricted Funds. Donations for PUTposes
restricted either by the wishes of the donor or the tenns of the appeal are taken to Restricted Funds where these wishes
are legally binding on the Governors, except that any amounts required to be retained as capilal in a¢cordan¢e with the
donor's wishes are accounted for as endowments - pernianent or expendable according to the nature of the restriction.
EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer ecoDOmiC benefit to a third party, it
is probable that a transfer of ewnomic benefits will be required in settlement and ihe amount of the obligation can be
measured reliably. Expenditure is ¢lassified by activity. The costs of ¢a¢h a¢tivity are made up of the total of direct costs
and Shared costs, including support costs involved in undertaklng each activity- Direct costs attributable lo a single
activity are allocated directly to that activity. Shared costs whiGh contribute to Tnore than one aGtivity and support costs
whi¢h are not attributable to a single activity are apportioned between those activities on a basis ¢onsistent with the use
of resources. Central staff costs are allocated on the b&8is of time spent. and depreciation charges allocated on the portion
of the asset's use. The irr¢￿verable element of VAT is inrluded with the item of expell￿ to which it relates.
ED4fpLOYEE BENEFITS
The best estimate of the expenditure required to settle an obligation for temiination benefits is ￿COgnised immediately
as an expense when the charitabl¢ ¢ornpany is demonstrably committed to temiinate the employment of an employee or
to provide temiination benefits.
PENSION SCHEMES
St. Mary's School (Calne) contributes to the Teachers, Pension Defined BenefIts Scheme. The TPS is an unfunded
scheme and contribulions are calculated so as to spread the cost of pensions over employees, working lives with the
School in such a way that the pension cost is substantially a level percentage of current and fu￿re pensionable payroll.
The contributions are detemiined by the Government Acluary on the basis of quadrennial valuations using a prospective
unit credit method. The TPS is a multi-employer s¢heme and there is insufficient infonnation available to used defined
benefit accounting. The TPS is therefore treated as a defined ￿ntributIon Scheme, as detailed in section 28 of FRS 102,
for accounting PUTposes and the contributions recognised in the period to which they relate.
Non-teaching staff contributs to a defined contribution scherne where the assets are held in an entity separate to the
School. Contributions towards this scheme are accounted for in the period to which they relate.
26

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
ACCOUNTING POLICIES (continued)
TANGIBLE ASSETS
Capitalisation and repla¢ement
New buildings, major improvements and extensions are capitalised at their original cost. All repairs are charged to the
Statement of Financial Activities when the cosls are incurred. Fumiture and equipment acquired for new buildings, major
extensions and new projects are capitalised at their original ¢ost. Assets below £l.000 are not capitalised.
Depreciation
Land is not depreciated.
Deprecialion of other assets is provided at rates calculated to write off the excess of cost over estimated residual amount
evenly over the estimated useful economic lives of each Glass of asseL subject to annual review.
These rates are currently as follows:
Freehold buildings
Furniture, fittings and equipment
Motor vehicles
2_IOQh straight line method
100/0, 20 % or 330/0 straight line method
250/0 reducing balan¢e method
The assets in the course of construction shown in note 8 relate to assets whi¢h had not been brought into use at the year
end. No depreciation has been charg¢d on these assets.
TANGIBLE ASSETS
Intangible fixed assets costing £l.000 or more are capitalised and recognised when futUTe economic benefits are probable
and the cost or value of the net asset can be measured reliably. Intangtble assets are initially recognised at cost and are
subsequently measured at cost net of amortisation and any provision for impairment. Amortisation is provided on
intangible fixed assets at rates ¢al¢ulated to write off the Gost of each asset on a straight-line basis over its expected useful
life, as follows:
Computer software
330/0 straight line method
tNVESTMENTS
Investments are valued in the balance sheet at iheiT mid-market value at the balance sheet date. Investment management
C05t5 are accounted for as incidental costs of the acquisition or disposal where transa¢tion-based, while investment
in¢ome management Costs are charged as expenditure out of the relevant income funds. Unrealised and realised gains
and losses are shown in the Statement of Financial Activities.
INVESTMENT PROPERTIES
Investment properties {in¢ludin8 properties held under an operating lease) are initially measured at cost and subsequently
measured at fair value. Changes in fair value are recognised tn profit or loss.
STOCK
Stock is valued at the lower of cost and net realisable value using the FIFO basis.
LEASES
Where the Group enters into a lease which entails taking substantially all the risks and rewards of ownership of an a$seL
the lease is treated as a finance lease. The asset is [￿orded in the balance sheet &8 a tangible fixed asset and is depr¢ciated
in accordance with the above depreciation policies. Future instalments under such leases, nct of finance charges. are
included with oreditors. Rentals payable are apportioned between the finance elemen( which is ¢harged to the Statement
of Financial Activities on a straight line basis. and the capital element which red4Jces the outstanding obligation for future
instalmentS.
27

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
AccoifNTtNG POLICIES (conlinued)
LEASES (¢onlinued)
Rentals applicable to operating leases where substantially all of the benefits and risks ofownership remain wlth the lessor
are charged against profits on a straight line basis over the period of the le&se.
FINANCIAL INSTRUMENTS
The Group has elected to apply the provisions of Section I I 'Basic Financial Instruments, and Section 12 '0therFinancial
Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the Group becomes party to the ¢ontra¢tual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally enforceable right to set off the recognised amounls and there is an intention to scttle on a net basis or tr) realise
the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trnde and other receivables and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised c05t using the effective interest
method unless the a￿angement constitutes a financing transaction, where the financial asset is measured at the present
value of the future receipts discounted at a market rate of interest.
airnlent of financial a55ets
Financial assets. other than those held at fair value ihrough profit OT loss are assessed for indicators of impairnient at eaoh
reporting end date.
Finan¢ial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after
the initial recognttion of the financtal asseL the estimated future c&8h flows have been affected. If an asset is impaired,
the impairment loss is the diff¢renGe between the rarrying amount and the pr¢sent value of the estimaled cash flows
dtscounted at the asset's original effective interest rate. The impaiment loss is re¢ognised in profit or loss.
If there is a decre&8e in the Impai￿ent loss arising from an ev¢nt occU￿l￿g after the impairnient was recognised, the
impairment is reversed. The reversal is such that the current catrying amount does not exceed what the canying amount
would have been, had the impaimienl not previously been recognised. The impairnient reversal is recognised in profit or
loss.
Dereco
nition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flow5 from the asset expire or are settled.
or when the Group transfers the finan¢ial asset and substsntially all the risks and rewards of ownership to another entity.
or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party
that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the subslance of the contractual arrangements
entered into. An equity instNment is any ¢ontra¢t that evidences a residual interest in the assets of the Group after
deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price
unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of
the future payments discounted at a market rate of interest.
Debt Instruments are subsequently carried at amortised cosL using the effective interest rate rnethod.
28

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE Accouwfs (continued)
for the year ended 31 August 2024
I ACCOUNTING POLICIES (Gonlinued)
FtNANCIAL INSTRUMENTS fconlinued)
Dereco
nition of financial liabiliti
Finan¢ial liabilities are derecognised when. and only when, the Group's contra¢tual obligations are discharged, cancelled.
or they expire.
ui
instruments
Financial instruments cl3s5ified as equity instruments are re¢oTded at the fair value of the cash or other resources received
or receivable, net of transaction costs, unless the equity instruments are issued to extinguish a financial liability due to a
shareholder or a paty under common control. or in accordance with the original tsnns of the finartcial liability.
Acce
tance d¢
Acceptance deposits are paid to the Group to secure a place for the child at the School. Deposits held forn] part of the
general funds of the Group until the child leaves the School at whi¢h point they are credited without interest lo the final
payment of the fees or other sums due to the Group. Deposits are held as other Greditors on the balance sheet and are
Classified as owing within one year and over one year based on when they are expe¢ted to be credited against income.
CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES
In the application of the Group's a￿OuntIng policies, The Governors are required to make judgements, ¢￿]mateS and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and &£sociated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these csttmates.
The estirnates and underlying assumptions are reviewed on an ongolng basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affe¢ts Qnly that period, or in the period of
revision and future periods where the revtsion affects both curr¢nt and future periods.
Critical accounting judgements
Multi-ern
er defined benefit
en51
n scheme
Certain employees participate in a multi-employer defined benefit pension s¢h¢me. In the judgment of the Governors.
the Group does not have suffi¢ient inforniation on the plan assets and liabilities tr) be able to reliably account for its share
of the defmed benefit obligation and plan assets. Therefore the scheme is a¢¢ounted for as a d¢fined contribution s¢heme.
Critical Ae¢ounting estimates
Useful economic lives of tan
ible a
d intan
ible assets
The annual depreciation and amortisation charge is sensitive to any changes in the estimated useful life and residual
values of the tangible and intangible assets. The useful economic lives and residual value 15 assessed on an annual basis
and are am¢nded only when evidence shows a change in the estimated e¢onomic lives of residual life. Criteria used to
&ssess the economic life and residual value includes technological advan¢emenL economic utilisation, physical Gondition
of the asset and future investments.
29

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
3(a) SCHOOL FEES
The Schools. fee income comprised..
2024
2023
Gross fees
Less: Means tested bursaries and scholarships
Other Allowances
18,661.852
17.231,709
(1.439,023) (1.297,098)
(366.918)
(383,275)
16.855.911
15.551,336
All income from School fees relates to unrestricted funds in the current and prior year.
3{b) OTHER INCOME
2024
2023
Other educational income
Entrance and registrdtion fees
Courses and sU￿lettIngS
132.612
154,465
123,606
149,446
287,077
273,052
Other ancill4ry trAding incom¢
Insurance commissions
Uniforni shop
After School Club
School accommodation
Events
14.679
210.763
41.372
8.075
18.443
12,615
198.595
32,049
8.875
24.955
293.332
277.089
All in¢ome from other educational and other ancillary trading income relates to unrestricted funds in the current
and prior year.
2024
2023
Investment Ineome 2nd Gains and losses
Bank interest received
Dividends received
Rental income
120.982
16.773
19,400
76.362
15,160
11.400
157.155
102,922
Of the above investment income £120,982 (2023-. £76.362) relates to Lknr¢stri¢ted funds and £36.173 (2023-
£26,560) relates to restricted funds.
Investment returns comprise a gain of £12,352 (2023- loss of £2,662) fflaling to unrestricted funds, a gain of
£156.682 (2023: gain of £5.507) relating to restricted funds and a loss of £7,992 {2023.. loss of £1,344) relating to
endowment funds.
30

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
3(b) OTHER tNCOME (eonlinued)
2024
2023
Donations
437,390
257,342
Of the above donations £2,348 (2023: £7,538} relates to unrestricted funds and £435,042 (2023: £249,804) relates
to restricted funds.
It should be noted that due to Charities SORP recognition criteri4 there are donations relating to this year and
previous years of £403231 (2023: £274,031) presented within accrued income. This is for donations which had
not been received as cash by the year end.
3(¢) OTHER TRADING INCOME AND EXPENDITUBE
Sl. Mary's School (CalKe) SeniiceJ Limited (Company number.. 04111368)
The School controls St. Mary's School (Calne) Services Limited. whose principal activity is the operation of a sports
centre. The r¢gistered address of St. Mary's School (Calne) Servi¢¢s Limited is the same as the School. Any profits of
the trading sllbsidiary will be paid to the School under gift aid.
Trading ttirnover. operating costs and net results extracted from its audited accounts for the year ended 31 August 2024
and 31 August 2023 ar¢ shown below.
2024
2023
Turnover
Other operating income
938,584
901,501
500
Administrative expense5 and interest payable
(971,905)
(952,010)
Net (deficit) for the year
(33.321)
(50,009)
The above figures include inter-company transactions which are eliminated on consolidation.
Other trading income and expenditure relates to un￿strICted ￿ndS in the current and prior year.
31

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOtNTS (continued)
for the year ended 31 August 2024
3(¢) OTHER TRADNG INCOME AND EXPENDITURE (¢onlimied)
The Calne Foundalion frnsl (Charity number.. 1147327/ Company number.. 08049046)
The School controls The Calne Foundation Trust. whose principal activity is the promotion of the charitable purpose5 of
St. Mary's School (Calne). The registered address of The Calne Foundation Trust is the same as the School. The results
of The Calne Foundation Trust extra¢ted from its audited accounts for the year ended 31 August 2024 and 31 August
2023 are shown below.
2024
2023
COME FROM:
Donalions
Investment income
375,999
60.328
229,415
31,713
Total income
436.327
261,128
EXPENDITURE FROM:
Charitable activities
{101.798)
(138,003)
Total expenditure
(101,798)
(138,003)
NET ￿COmE BEFORE LOSSES ON INVESTMENTS
354,529
123,125
Gains on investment5
159,355
5,310
NET NCOME
493,884
128,435
NET MOVEMENT IN
FUNDS FOR TItE YEAR
493,884
128,435
Fund balances at start of year
2,559,582
2,431,147
Fund balances at end of year
3,053,466
2,559,582
32

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
NET EXPENDITURE
The net expenditure for the year is stated after ¢hargingl(creditin8):
2024
2023
Charitsble letivities expenditure includes:
Bad debt cxp¢ns¢
Depreciation of tsngible fixed assets
Amortisation of intangible assets
3,453
1,162,889
2,963
1,176,114
Auditor's remuneration=
RSM UK Audit LLP - audit of the Group and parent charity
RSM UK Audit LLP - audit of the subsidiary companie5
RSM UK Audit LLP - other assurance
RSM UK Tax and Accounting Limited - l&xation fees
RSM UK Tax and A¢wunting Limited- other services
21.000
9,200
1,400
18,350
8,700
1,250
4,500
20,850
18,900
Totsl Croup and Charity stsff costs comprised:
Wages and salaries
Social security costs
Pension contributions
Staff rest￿ctUring costs
9,530,045
855.938
1,580,056
9,063,438
843,831
.466,579
293,013
11.966.039
11,666,861
Settlern¢nt payments
Included in staff restructuring costs are settlement payments to two members of staff totalling £nil (2023: £293,013).
No emoluments, rcmuneration or pensions were paid or are payable to the Governors for this year or the previous
year. Expenses incurred in attending meetings are, in some instances. reimbursed. During the year expenses of £9,512
were paid to 5 governors (2023.. £6.110 to 5 governors).
The number of person5 employed, expressed as fvll time equivalenl. was as follows:
2024
2023
Teaching and support
Domestic
Administration
Trading subsidiary
135
78
37
17
129
84
33
19
267
265
The average headcount during the year was 415 (2023: 443) for the Group and 361 (2023: 373) for the School.
33

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
NET EXPENDITURE (continued)
The number of employees whose employee benefits (excluding employer pension costs and employer national insurance
contributions) exceeded £60,000 was:
2024
2023
£60,001- £70,000
£70,001- £80,000
£80,001- £90,000
£90.001-£100,000
£1 00,001 - £i10.000
£110,000 - £120,000
£140,001- £150,000
£160,001- £170.000
Pension contributions in respect of the above higher paid employees were £159.063 (2023- £157,450).
ANALYSIS OF EXPENDITUILE
Depre¢ialion
Other ￿)StS & arnortisation
Total
2024
Total
2023
Staff cost5
Raising funds:
Trading expendllure
Inte￿st
644,307
322,783
90,878
413,661
23J18
990.408
90,878
968,751
109,058
1,077,809
Total
644,307
23J18
1.081,286
Charitable activiti&8:
Teaching
Welfare
Premises
Support costs of school
School operating costs
Total
7,684,654
1.233.100
1,029.663
1.374,315
642,071
l.027.756
I,817,114
841,656
235,384
3.702
913,709
8,562,109
2,264,558
3,760,486
2,215,971
16,803,124
8.594.506
2.425.495
3,357.557
2.055311
11,321.732
4,328,597
1,152,795
16.432.869
11.966,039
4,742,258
1,176,113
17,884,410
17.510.678
Of the above expendithre £17,547,006 (2023: £16,125,255) relales lo unrestricted funds and £337,404 (2023- £307,614)
relates to restricted funds.
ANALYSIS OF SUPPORT COSTS
Educational
operations
2024
Ancillary
trading
2024
Marketing
2024
Governance
Totsl
2024
Totsl
2023
2024
Staff costs
Admin and office
costs
Stock purchases
Trustee expense5
Audit and
accountan¢y
,167,840
293,089
67,067
101.999
I39.408
240.070
1,374,315
635,E58
1,408.237
449,346
119,610
I l9,610
9.512
77.376
129,613
6,110
62.005
9,512
77,376
1.460.929
288.676
379,478
86,888
2,215,971
2,055,311
Governance costs are assoriated with the strategic as opposed to day-tfrday management of the School's activities and
include costs in relation to assisting the Governors with perforniing their responsibilities.
34

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
INTANGIBLE FIXED ASSETS- GROUP AND SCHOOL
Website
and brand
Cost
At I September 2023
65,198
At 31 August 2024
65.198
Amortisation
At I September 2023
Charge
65.198
At 31 August 2024
65.198
Net l)ook value
At 31 August 2024
At 31 August 2023
The intangible assets relate to purchased website d¢velopment and brand refresh. The amortisation is shown within
charitable a¢tivities in the Statement of Financial Activities.
8(a)
TANGIBLE FIXED ASSETS - GROUP
Assets in the
Freehold land
course of
and buildings wnstruction
Furniture,
fittings and
equipment
Minibuses
Total
Cost
At I September 2023
Additions
Disposals
Transfer
33,358,895
209,199
59.667
7,054,979
287.561
(22.829}
(21,175)
7,298,536
l39,981
40.763.054
347.228
(22.829)
110,765
33.469,660
(89,590)
179,276
At 31 August 2024
139,981
41,087.453
Depreciation
At I September 2023
Charge
Disposals
At 31 August 2024
6,102,597
900.342
5,736,673
272,069
125,044
3,702
11.964.314
1.176,113
7,002,939
6,008.742
128,746
13,140,427
Net book value
At 31 August 2024
26,466,721
179,276
1289.794
11,235
27,947,026
At 31 August 2023
27,256.298
209.199
1318,306
14,937 28,798,740
35

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
8(b) TANGIBLE FIXED ASSETS- SCHOOL
Assets in the
ourse of
construction
FumitUTe.
fittings and
equipment
Freehold land
and buildings
Minibuses
Total
Cost
At I September 2023
Additions
Disposals
Transfer
33.358.895
209.199
59.667
6,811,714
243,293
(22,829)
(21.175)
7.011,003
139,981 40.519,789
302.960
(22,829)
110,765
33,469,660
(89.590)
179.276
At 31 August 2024
139,981
40,799,920
Depreciation
At I September 2023
Charge
Disposals
At 31 August 2024
6,102,597
900,342
5,511.598
248.751
125,044
3,702
11,739,239
1,152,795
7 002 939
5 760.349
128 746
12 892 034
Net book value
At 31 August 2024
26,466,721
179,276
,250,654
11.235
27,907,886
At 31 August 2023
27 256.298
209 199
1.300.116
14.937
28.780,550
INVESTMENT PROPERTY- GROUP
2024
Valuation at I September 2023
Additions
302.313
306,328
Valuation at 31 August 2024
608,641
Investment property comprises two residential properties in the sub5idiary* The Calne Foundation TrusL The first
propety was purchased on 26 July 2022 for £302,313. A second property was purchased on 29 September 2023 for
£306.328. The Trustees. having made appropriate enquiries, Consider that the properties are held at market value as at 31
August 2024.
36

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
10 INVESTMENTS
Group
School
2024
2023
2024
2023
Fixed asset investments (note I l{a))
Investment in subsidiaries
1,621.620
1,403,909
227,094
209,423
1,621.620
1,403,909
227,095
209,424
Subsidiary undertakings
At 31 August 2024 the Srhool held IOOO/o of the allotted share Capital of St. Mary's Sch(x)l (Calne) Services Limited
incorporated in England and Wales. which is involved in the letttng of facilities.
The ￿etS and liabilities of St. Mary's School (Calne) ServiGes Limiled (registered number: 04111368) are..
2024
2023
Tangible fixed assets
Current &ssets
39.140
20.417
18.190
158,501
59,557
176.691
Creditors- amounts falling due within one year
(180,625)
(264,438)
Net assets
(121,068)
(87,747)
Represented by..
Share capital
Profit and loss account
(121,069)
(87.748)
(121.068)
(87.747)
The assets and liabilities of The Calne Foundation Trust (charity number.. 1147327) are..
2024
2023
Investment property
Fixed asset investments
Current assets
Current liabilities
608,641
1.358.457
1,087583
(1,215)
302.313
1,194,486
1,132.991
(70.208)
Net assets
3.053,466
2,559.582
Represented by:
Endowment funds
Restricted funds
Unrestricted funds
10,350
2.990,535
52.581
7.677
2.525.794
26,111
3,053,466
2,559582
37

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 Au
ust 2024
I l(a) FtXED ASSET INVESTMENfs - GROUP
Unrestricted
Funds
Restricted Endowment
Funds
Funds
Total
Fund5
Valuation at I September 2023
Additions
Disposals
Gain on investment5
150.882
1,182,786
17.772
(13.156)
156.682
70,241
1,403,909
17.772
(13,156)
177,026
12.352
7,992
Valuation at 31 August 2024
163.234
1.344.084
78,233
1,585,551
The value of the group investment portfolio analy5ed by investment holdings is as follows:
2024
2023
Fixed interest
UK equities
North American equities
European equities
Japanese equities
Asia paGifi¢ ex Japan/ EM equities
Global equities
Alternative investments
Commoditi¢s
Cash and cash alternatives
Church of England Investment Fund
195,691
202.240
502.337
100.317
22,122
51,360
64.167
115,036
78,182
27.005
227,094
177.464
165,489
413.299
72.500
19,762
56,001
52.532
107,097
67,268
63,074
209,423
1.585.551
1,403,909
I l (b) FIXED ASSET tNVESTMENTS- SCHOOL
Unre5triGted
Funds
Restricted Endowment
Funds
Funds
Toial
Funds
Valuation at I September 2023
Gatn on investments
146,384
12J52
63.039
5,319
209,423
17.671
Valuation at 31 August 2024
158,736
68,358
227,094
Fixed asset investments relate to the CBF Church of England Investment Fund in the School. Other listed
investments are managed by James Hambro and Partners. The investments are held in a portfolio designed to meet
the Governors investment policy to maintain a reasonable balance between income and ¢#pital growth.
38

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
12 STOCKS
Group
School
2024
2023
2024
2023
Goods for resale
102,250
107,624
99,410
104.170
13 DEBTORS
Group
School
2024
2023
2024
2023
School fees
Prepayments and accrued income
Other debtors
Amounts owed from Group undertakings
3,055.697
684.121
122.983
3J63.865
504.517
173,239
3.055,697
280,521
100.563
42,194
3.363.865
223.148
143,652
202.128
3,862.801
4,041.621
3.478,975
3.932.793
14 CREDITORS: AMOUNTS FALLING DUE tN ONE YEAR
Group
School
2024
2023
2024
2023
Fees received in advance
Other tax and social security
Pension creditor
Other ¢reditors
Accruals and defetred income
2,707.168
235.514
203,362
lJ41.622
4,617.257
1,141.533
229,414
181,780
895.364
5.257,107
2,707.168
218,496
199,458
1.231,558
4.608,597
1,141.533
216.590
178.024
781,547
5,254.986
9.104.923
7,705,198
261,258
8,965,277
261,258
7,572,680
261,258
Bank loans (note 16)
261,258
9,366,181
7,966,456
9.226,535
7,833,938
In¢luded in accruals and deferred in¢ome is deferred income of £4,534.543 (2023- £4.822.363). Fees received in
advance are also considered to be defeffed incorne. This relates to income received in advance to be used against
fUtll￿ School fees. The movement in the short tenn deferred income for the School and Group is analysed below.
Fees in
Advance
2023
Fees in
Advance
2024
As at I September
Increase in the year
Released in the year
1,141.533
734221
2,707.168
1,141.533
(1,141.533) (734221)
As at 31 Au8USt
2,888,122
1,141,533
39

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
15 CREDITORS: AMOUNTS FALL￿G DUE AFTER MORE THAN ONE YEAR
Group
School
2024
2023
2024
2023
Fees received in advance
Other creditors
Bank loan
1,659,987
1,599,106
914,526
4,173,619
841,458
,552,538
1,085,059
3,479,055
1.659.987
1,599.106
914.526
841,458
1,552,538
1,085,059
3.479,055
4.173,619
Fees received in advance relates to income received in advance to be used against future School fees. The movement
in this balance for the School and Group is analysed below.
Fee5 in
Advance
2024
Fees in
Advance
2023
As at I September
Increase in the year
Released in the year
841,458
1,205.055
(386,526)
1.370.810
106268
(635,620)
As at 31 August
1,659.987
841,458
16 BORROWfNGS
Group
School
2024
2023
2024
2023
Bank loans
1,175,784
lJ46,317
1,175,784
1,346,717
1,175,784
1,346,317
1,175,784
1,346,317
Payable in y¢ar
Payable after one year
26l,258
914,526
261,258
1,085,059
261.258
914,526
261,258
1,085,059
1,175,784
1,346,317
1,175,784
1,346,317
Of the amounts payable after one year £nil (2023: £40.020} is payable after five years.
The bank loans are secured by a fIrst mortgage ¢har8e on a number of the freehold assets of the school and fixed
and floating charges over a number of assets of the school including all past and future freehold and le&sehold
property. book and other debts. ¢hattels. goodwtll as well as a fjrst floating charge over all assets and undertakings
both present and future of St Marys S¢hool (Calne) Services Limited.
The bank loans are denominated and repaid in sterling, have contractual interest rates that are variable rates linked
to SONtA, that are not leveraged, and do not ¢ontsin conditional retums or repayment provisions other than to
protect the lender against credit deterioration or changes in relevant legislation.
The outstanding bank loans were subsequently settled in full on 16th October 2024.
40

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
17 FtNANCIAL tNSTRUMENTS
Group
School
2024
2023
2024
2023
Carrying amount of financial &ssets:
Equity instruments measured at fair value
1,585,221
1.403,909
227.095
209,423
ui
instruments
Equity instruments that are listed on a regulated stock exchange are measured at fair value using observable market
inputs. The inputs used in valuing the instruments include indexes provided by these regulated markets.
18 NET ASSETS OF THE FUNDS OF CHARITY AND GROUP
The Group and School'5 net assets belon8 to the various funds as follows:
Fixed assets
and investments
Current
assets
Liabilities
Total
Endowment Funds (note 19}
Restricted Funds (note 20)
Unrestricted Funds (note 21)
64,512
6291,234
21,779,235
28.134.981
64,512
7,129,752
(13.400,154) 16,663,303
9,122,740 (I3,400,154} 23,857,567
838.518
8,284,222
School
Subsidiaries. reserves (Endowed Funds)
Subsidiaries. reserves {Restricted Funds)
Subsidiaries. reserves (Unrestricted Funds)
Group
9,875
1,957,223
39,139
30,141,218 10.188,546
475
1.033,763
31.568
10,350
2,990,986
(139.646)
(68,939)
(13.539,800) 26,789,964
2023 CO￿[pARATIVE FIGURES
Fixed &ssets
and investments
Current
assets
Liabilities
Total
Endowment Funds (note 19)
Restricted Funds (note 20)
Unrestricted Funds (note 21)
59.193
6,538.617
22,392,164
59,193
765,383
7J04,000
4,858,451
(11.312.993) 15,937,622
5,623,834 (11,312.993) 23,300,815
School
28,989.974
Sub5idiaries' reserves (Endowed Funds)
Subsidiaries, ￿ServeS (Restricted Funds)
Subsidiaries. reserves (Unre5tri¢ted Funds)
Group
7,677
1,481.816
25,495
30,504,962
7.677
2.526.245
(132,518)
{62,088)
{11,445,511) 25,772,649
1,044,429
44.935
6.713.198
41

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
19 ENDOWMENT FUNDS: MOVEMENTS IN THE YEAR
Group
Balance at
I Sept
2023
Transfers and
outgoing
resources
Balance at
31 August
2024
Investment
gain
S¢holarship Fund
Prlze Fund
55,212
11,658
5,319
2,673
60,531
14,331
66,870
7.992
74,862
School
Balance at
I Sept
2023
Transfers and
Outgoing
resources
Balance at
31 August
2024
Investment
gain
Scholarship Fund
Prize Fund
55.667
3,526
5.319
60,986
3,526
64,512
59,193
5,319
The Scholarship Fund is invested in shares in the Central Board of Finance Investment Fund, the income of which
IS taken to restricted funds and used as a contribution towards the cost of scholarships.
Th¢ Prize Funds are invested in shares in the Central Board of Finance Investment Fund and cash held generally.
the income of which is taken to restricted funds and used as a contribution towards the costs of prizes awarded.
2023 COMPARATIVE FIGURES- ENDow￿NT FUKDS
GTOUP
Balance at
I Sept
2022
Transfers and
oulgoing
resources
Balance at
31 August
2023
Investment
loss
Scholarship Fund
Prize Fund
57,960
13,945
(1.147)
(197)
(1,344)
(1.601)
(2.090)
(3,691)
55.212
11,658
71,905
66,870
School
Balance at
I Sept
2022
Transfers and
outgoing
resources
Balance at
31 August
2023
Investment
loss
Scholarship Fund
Prize Fund
60.505
3.526
(1.147)
(3.691)
55.667
3.526
64,031
(1,147)
(3,691)
59,193
42

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
20(a) BESTRtCTED FUNDS.. MOVEMENfs IN THE YEAR- GROUP
Balance at I
September
2023
Balance at 31
August
2024
Transfers and
Expenditure gainsl(losses)
Income
Foundation Appeal
Headmistresses Old Girls Association
Music Department Donations
St. Mary's Charity Fund
St Margaret's Charity Fund
Chapel Fund
St Margaret's Eco Project
Sports Fund
St. Mary's Library
New Bursary Fund
Arned Fowes Fund
Capital Projects Fund
PriT£S
5,551
2,085
1,512
8,946
368
206,910
1,053
2.216.193
4.565,474
2.317.865
151
292,982
1,555
4.229
5,551
2,085
1,512
(5,466)
275
206,910
1,053
2,170,962
4,375,248
2,600,310
151
270,332
576
4,229
31.375
39,618
5,860
2.500
179,100
228,557
11,980
2,575
(26392)
(2,668)
(45,231)
(190,226)
(46,660)
172,423
156,682
40
(22,690)
(979)
PGSM
Mobile trailer fiind
STEM
Events fund
Fl in schools
Bell foundation fund
Other restricted funds
20,750
900
2.597
10,625
(10,625)
49,343
5.821
2,500
{2,558)
179.100
80,850
147.707
Total
9.830245
471,215
(337,404)
156.682
10.120,738
20(b) RESTIUCTED FUNDS: MOVEMENTS IN THE YEAR- SCHOOL
Balance at I
September
2023
Balance at 31
August
2024
Transfers and
Expenditure gainsl(losses)
Income
Foundation Appeal
Headmistresses Old Girls Association
Music Department Donations
St. Mary's Charity Fund
St Margaret's Charity Fund
Chapel Fund
St Margaret's Eco Project
Prizes
Sports Fund
SÉ. Mary's Library
STEM
PGSM
Capital Projects Fund
New Bursary Fund
Fl in schools
Equipment Fund
Other restricted fijnds
Mobile trailer fund
5551
2,085
1,512
8,947
368
4,758
1,053
534
2.282281
4,583,474
5273
4,229
207250
13,015
2,500
420
180,750
5.551
2.085
1,512
(5.465)
275
4.758
1,053
534
2,237.050
4.393.248
5.273
4,229
184,560
42,902
2,500
420
219,250
30,017
11,980
2.575
(26,392)
(2.668)
(45,231)
(190.226)
(22.690)
(16,949)
46.836
38,500
30,017
129,908
TotaI
7.304,000
(304,156)
7,129,752
43

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
20(b) RESTRICTED FUNDS: MOVEMENTS IN THE YEAR- SCHOOL (continued)
C James Music Prize Fund
The C James Music Prize Fund is cash to be invested in shares, the income of which will be restricted and used
as a contribution towards the cost of prizes awarded.
S orts fund
The Sports Fund (previously known &$ the Sports Hall Fund) relates to donations received for various 5POrt capital
projects and is ￿ leased in line with expenditure.
New Bursa
fund
The New Bursary Fund relates to donations for specific buisarie5. This year bursaries were paid out for the Matthews
Bursary, Music Bursary and the Springboard Bursary.
Arnied Forces fund
The Arnied Forces Fund relates to donations to support the education of children who have a parent. of any rank. killed
or wounded in active service.
ital Pro
ects fund
The Capital Projects Fund relates to various ongoing school related capital projects. The majority of the income this
year As in relation to the Lime Kiln Garden. Donations were also received for the climbing wall, art blo¢kand perfoming
t.ma
Libra
fund
The Library Fund relates to donations received for the purpose of building a new library and is rele&8ed in line with
valuation reports submitted by the project manager.
STEM Centre fvnd
The STEM Centr¢ Fund r¢late5 to donations reGeiv¢d for the purpose of building a new STEM Centre. This is very
much in its infancy and expenditure relates to design development.
Fl in school fu
The Fl in Schools Fund relates lo money set aside for the S¢hool's computer department for a specific Fonnula l in
Schools project.
Events fund
The events fund is used for events held by the wholly owned subsidiary undertakin& The Calne Foundation Trust
and usually in¢lude5 ticket Costs.
Bell Foundation Award
The Bell Foundation Award is to ￿nd an annual bursary for a Foundation Scholar from September 2024 onwards.
Other restricted funds
Other restricted funds relates to amounts received to be used for specific purposes.
44

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
20(b) RESTRICTED FUNDS: MOVEMENTS N THE YEAR- SCHOOL (Continued)
2023 COMPARATIVE FIGURES- RESTRIcfED FUNDS GROUP
Balance at I
September
2022
Balance at 31
August
2023
Trdnsfers and
Expenditure gainsl(losses)
Income
Foundation Appeal
Headrnistresses Old Girls AssoGiation
Music Department Donations
St. Mary's Charity Fund
St Margaret's Charity Fund
Chapel Fund
St Margaret's Eco Project
Sports Fund
St. Mary's Library
New Bursary Fund
Anned Forces Fund
Capital Proje¢ts 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
151
315,407
550
4,229
175,175
1,798
5,551
2,085
1,512
8,946
368
206,910
1,053
2,216.193
4.565,474
2.317,865
151
292,982
1,555
4,229
49,343
5,821
2.500
147.707
(216)
(13,277)
{2,379)
15.327
1.457
(45,228)
(190,228)
(32,978)
249,669
5.507
265
1,623
(22,690}
(618)
PGSM
STEM
Events fund
Fl in schools
Other restricted funds
1,500
4,023
2,500
(127.332)
147.707
Totsl
9.983 J20
276,364
(307,614)
(121,825)
9,830,245
2023 COMPARATIVE FIGURES - RESTIUCTIVE FUNDS SCHOOL
Balance at I
September
2022
Balance at 31
August
2023
Trdll5fers and
Expenditure gainsl(losses)
Income
Foundation Appeal
Headtnistresses Old Girls Association
Musi¢ Department Donations
St. Mary's Charity Fund
St Margaret's Charity Fund
Chapel Fund
St Margaret's Eco Project
Prizes
Sports Fund
St. Mary's Librdry
STEM
PGSM
Capitsl Projects Fund
New Bursary Fund
Fl in s¢hools
Equipment Fund
Other restri¢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
1,512
8,947
368
4,758
1,053
534
2,282,281
4,583,474
5.273
4,229
207,250
13,015
2,500
420
180,750
(216)
(13,277)
(2,379)
15J27
1,457
(45,228)
(190,228)
(127.332)
70,794
8,643
2,500
(22,690)
(8,392)
420
142250
38.500
Totsl
7,576,521
137.221
{282,410)
(127.332)
7.304,000
45

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 Au
ust 2024
21 ifNRESTRICTED FUNDS: MOVEMENTS IN THE YEAR
Unrestricted Revaluation
funds
reserve
Total
Group
Balance at start of year
Retained surplus for the year
15,251,546
718 830
623,988
15.875.534
718.830
16.594.364
15.970,376
623,988
Sehool
Balance at start of year
Retained surplus for the year
15313,634
725.681
16,039.315
623,988
15,937,622
725,681
16.663,303
623,988
2023 COMPARATIVE FIGURES . UNRESTIUCTED Fu￿Ds
Unrestrictd Revaluation
funds
Reserve
Total
2022
Group
Balance at start of year
Retained surplus for the year
Transfers and gain5
15.487.940
(364,755)
128,361
623,988
16,111.928
(364,755)
128,361
15,251,546
623,988
15.875.534
School
Balance at start of year
Retained surplus for the year
Transfers and gains
15,509,205
(323.932)
128.361
623,988
16.133.193
(323,932)
128,361
15,937,622
15,313,634
623,988
Unrestricted funds relate to donations and investmenl income which can be used for the general purpose of the
Group.

St. Mary, s School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
22 RECONCILIATION OF GROUP NET INCOME TO NET CASH INFLOW FROM GROUP
OPERA TIONS
2024
2023
Net income l (expenditure)
1,017,315
{394.504)
Non-operAtillg CAshflows eliminated:
Investment income
Financing costs
Depreciation and impairnient
Amortisation
(Gains)/losses on investments
De¢reasel(increase) in stock
Incre&se in debtors
Increase in creditors
(Gainyloss on disposal of fixed assets
(157,155)
90,878
1,176,113
(102,922)
109,058
1,162,889
2.963
(1.501)
3,411
(3,159,534)
3,655.544
(177,026}
5,374
178,820
2,264,822
22,829
Net cash inflow from Croup operations
4,421,970
1275.404
23 ANALYSIS OF CHANGES IN NET DEBT
At start
of the year
Other non-
Cash-tlows cash changes
At end
of the year
Cash
2563,953
3.659.542
6,223.495
2,563,953
3.659,542
6.223.495
Loans falling due within one year
Loan5 falling due after more than one year
(261.258)
(1,085,059)
1.217.636
(261258)
(914,256)
5,047,711
(170.803)
3,488.739
24 PENSION SCHEME- TEACHING STAFF
The School participates in the Teachers, Pension S¢hwne (England and Wales) ('the TPS.) for its teaching staff.
The pension charge for the year includes Contributions payable to the TPS of £1202.552 (2023: £1,217,885) and at
the year-end £154.385 (2023: £136,263) was accrued in ￿SpeCt of contributions to this s¢heme. The scheme was
closed to new members from l August 2024.
The school operates a defined contribution pension scheme for non-teaching staff. The &£sets of the scheme are held
in an entity separate to the School. The pension charge for the year include5 contributions payable to the fijnd of
£345,570 (2023: £248,694) and at the year end contributions totaIling £3,904 {2023: £45.517) were payable to the
nd and are included in creditors.
The School is aware that the Court of Appeal has recently upheld the decision in the Vir8in Media vs NTL Pension
Trustees II Limited case. The decision puts into question the validity of any arnendments made in respect of the
rules of a contracted-out pension scheme between 6 April 1997 and 5 April 2016. The judgment means that some
historic arn¢ndments affecting s.9(2B) rights could be void if the necessary actuarial confirmation under s.37 of the
Pension Schem¢s Act 1993 was not obtained. Until further investigations have been Completed by the UK
Government's Actuary's Department andlor any legislative action taken by the govemment, the potential impact if
any, on the valuation of sGheme liabilities remains unknown.
47

St. Mary's School (Calne) (a company limited by guarantee)
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 August 2024
25 RELATED PARTY TRANSACTIONS
mana
ement
ersonnel
The key management personnel of the School and Group is as follow5: the He&ds of both schools. the Bursar. the
Development Director. the Senior Deputy Head, Deputy Head Academic and Deputy Head Pastoral at St. Mary's"
and the Deputy Head Acad¢mi¢, Deputy Head Pastordl at St Margaret's and the Governors. The total amount of
employee benefits (in¢luding employer pension contributions and employers, NI) received by key management
personnel for the&r services to the Group were £809,248 (2023.. £1,285,096).
Transactions wi
related arties
During the year the School received donations of £88.642 (2023.. 109.294) from the wholly owned subsidiary
undertaking. The Calne Foundation Trust {CFT). The CFT received £nil (2023: £nil) from the School. At the balance
sheet date the CFT owed the School £1,215 (2023.. £70208).
During the year the School received income of £27.495 (2023: £25.000) from the wholly owned subsidiary
undertaking. St. Mary's School (Calne) Services Limited. and made purchases of £186.750 (2023: £248.875). At
the balance sheet date the subsidiary owed the School £40.979 (2023.. £131,920)-
Donations and pledges totalling £437,390 (2023: £257,342) were recelved in the year. of which £226,043 (2023:
£15,390) were made to the Foundation by Trustees and their spouses.
During the year the School made purchases of £1.029 (2023: £950) from Adde & Co Limited. an entity controlled
by a Trustee. The balance outstanding at the year end was £nil {31 August 2023: £nil).
48