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2024-07-31-accounts

Berkhamsted Schools Group

REPORT AND FINANCIAL STATEMENTS

For the year ended 31 July 2024

Registered Charity Number: 310630 Registered Company Number: 622349

Berkhamsted Schools Group

CONTENTS
Page
Who we are 2-3
Governors, Officers and Advisers 4-5
Annual Report of the Governors 6-27
28
29-31
Consolidated Statement of Financial Activities 32
Consolidated and School Balance Sheets 33
Consolidated Cash Flow Statement 34-35
Statement of Accounting Policies 36-39
Notes to the Financial Statements 40-60

Page 1

Berkhamsted Schools Group

WHO WE ARE

Berkhamsted Schools Group is a prestigious group of independent day schools in Hertfordshire and Buckinghamshire which also offer boarding for the senior year groups. Founded in 1541, we are a school that is firmly rooted in our local community and also has an international outlook with overseas students joining the school from Year 10.

Berkhamsted has an outstanding reputation based on the following key characteristics:

A - one of just a handful in the country, Berkhamsted offers co-educational tuition up to age 11 and single sex classroom education from the age of 11 to 16 - at a time when we believe girls and boys benefit most from being taught separately in the classroom, whilst extra-curricular activities are undertaken co-educationally at all ages. Girls and boys come back together in a co-educational Sixth Form. We also have a girls-only Prep School, Heatherton, in Amersham, which has a co-educational nursery class.

A passion for learning and well-being - the world is changing at an ever-increasing pace. We believe life-long learning will be required of all of us and awareness of the skills that enable us to learn effectively are a key requirement. At the school we develop these skills alongside a focus on the development of character, with the aim that our students will have both the cognitive skills and character strengths (such as mental toughness and resilience) to cope with whatever life throws at them. Our well-being programme and framework is comparable with any school programme in the country, and we care deeply about the well-being of our school community and the individuals within it.

A broad education - we develop outstanding, well-rounded, remarkable young people through a broad education based not just on academic excellence, but also through activities outside the classroom, including sport, outdoor education, music, art and drama. We are proud to have produced excellence at national and international levels while maintaining very high levels of pupil participation in extra-curricular activities. We have one of the most outstanding outdoor education programmes at any school in the co and the range of experiences offered through our Combined Cadet Force. Every pupil in senior school attends Bushcraft training and spends a night under canvas as part of the introduction to the Duke of

Outstanding pastoral care - we are predominantly a day school running on structures built up through a history of being a traditional boarding school. We have a vertical house system, run by Heads of House velopment.

A large school with a small school feel - we are based on four campuses in Berkhamsted and one in Amersham, each structured to cater for the different age groups taught at those sites from Pre-Prep in the woodland setting of the Haresfoot campus to a Sixth Form moving between Castle and Kings campuses as a taster of what lies ahead at university. Each school benefits from outstanding whole school facilities in close proximity, which smaller schools are unable to provide. Examples include our 500 seat Centenary

Page 2

Berkhamsted Schools Group

Theatre, the Knox-Johnston Sports Centre and 25 metre swimming pool, nine Eton Fives courts, a Wooded Gruffalo Trail and our High Ropes course.

A school with community spirit - our pupils are consistently helping in the community and looking to for regular musical performances, to Year 7 boys litter picking across town, through to our Sixth Formers helping at local primary schools and in High Street charity shops. The introduction of The Berkhamsted number of cultural events which are open to all. We work with maintained sector schools in Berkhamsted, Hemel Hempstead and Luton, and co-sponsor the Wren Academies Trust.

A school which supports working parents - , so parents need never be concerned if they are delayed at the office, have to go on a business trip, or wish to find activities for their child in the holidays. We provide wrap-around care at both ends of the day up to Prep School, flexi-boarding at the senior schools, and work with specialist companies to lay on a range of courses and activities during half terms. We offer all year-round nursery provision from five months to three years old. In addition, our travel network also offers a coach service from home to school each day with late services available to cater for those pupils taking part in after-school activities.

A key aim of the Berkhamsted Schools Group is to deliver teaching and learning excellence for the benefit of pupils throughout the group. Investment in the continuous training, professional development and wellbeing of our staff is a priority. We are proud to have been awarded the Investors in People Gold Award twice in recent years, an unprecedented achievement for an independent school, reflecting our commitment to this aim.

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Berkhamsted Schools Group

GOVERNORS

The Board of Governors is appointed in accordance with the terms and conditions laid down in the Scheme of the Charity Commissioners for England and Wales sealed on 29 August 1996. Except as otherwise indicated, the Governors who served throughout the year are as follows:

----- Start of picture text -----
Appointed / Resigned (1) (2) (3) (4) (5) (6) Notes
G.C. Laws Appointed 17 March 2012 (c) (c) (c)
(Chair until 31 August 2023) Resigned 31 August 2023
C. Copland Appointed 18 March 2023 (c) (c) (c) Note 1
(Chair from 1 September 2023)
D.J. Atkins Appointed 1 September 2014
Resigned 1 September 2023
V. Bingham Appointed 3 December 2022
Prof S-J. Blakemore Appointed 17 June 2017
Resigned 22 June 2024
J. Brabazon Appointed 1 September 2023
C. Edwards Appointed 1 September 2022
A.R. Hart Appointed 1 December 2018
G. Imlah Appointed 3 December 2022
K. Musgrave Appointed 1 December 2018
K. Nijjar Appointed 24 September 2020
Resigned 24 September 2023
C. Nicholls Appointed 1 September 2015
Resigned 1 September 2024
S. Shields Appointed 25 March 2017
J.J. Smith Appointed 1 September 2020
N. Twogood Appointed 1 September 2015 (c)
A. Wilcock Appointed 26 November 2016 (c)
J. Williams Appointed 1 March 2018 (c)
----- End of picture text -----

(1)

Notes:

  1. C. Copland was appointed on 18 March 2023 and succeeded G.C. Laws as Chair with effect from 1 September 2023.

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Berkhamsted Schools Group

OFFICERS

Principal R P Backhouse MA (Cantab) Clerk to the Governors J McCulloch BSc, FIA Vice Principal (left 31 Aug 2024) A Ford BA Vice Principal (from 1 Sept 2024) M Walker BA Chief Operating Officer J Anthony BSc, FCA Chief People Officer T L Evans CIPD, FlnstLM Assistant Vice Principal (External Relations) R C Thompson BA Headteacher, Berkhamsted Sixth (left post 31 Aug 2024) M Walker BA Headteacher, Berkhamsted Sixth (from 1 Sept 2024) N J Cale BA (Hons) Headteacher, Berkhamsted Boys T L Hadcroft BA (Hons), MSc, MRes, MEd Headteacher, Berkhamsted Girls E Watson BEng Headteacher, Berkhamsted Prep (left 31 Aug 2023) J Hornshaw MEd, BEd, NPQH, FlnstLM Headteacher, Heatherton N Nicoll MEd, BEd (Hons) Headteacher, Berkhamsted Prep (from 1 Sept 2023) , PGCE, NPQH and Pre-Prep

Principal address and Registered Office

6 Chesham Road
Berkhamsted
Hertfordshire HP4 3AA
Bankers NatWest Bank HSBC plc
250 Bishopsgate 8 Canada Square
London London
EC2M 4AA E14 5HQ
Solicitors Veale Wasbrough Vizards
Orchard Lane
Bristol BS1 5WS
Auditors Crowe U.K. LLP
55 Ludgate Hill
London EC4M 7JW
Investment Advisors Brewin Dolphin
12 Smithfield Street
London EC1A 9BD
Insurance Brokers Aon UK Limited
8 Devonshire Square
London EC2M 4PL
Property Advisers Aitchison Raffety Bidwells
8 Cavendish Square Trumpington Road
London W1G 0PD Cambridge CB2 9LD
ESG Advisers Orbis Advisory
1 St Katherine
Way
London E1W 1UN

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Berkhamsted Schools Group

ANNUAL REPORT OF THE GOVERNORS REPORT

The academic year 2023-24 was characterised by continued achievement and development for the anticipated increase in taxation of private schools.

-curricular and extra-curricular pursuits, most notably in the winning of ten national sports championships in a period of two weeks in March 2024, but also reflected in excellent exam results, record numbers going to Oxbridge, and higher tariff universities, and the appointment of several staff to key promotion posts in other schools. The community, as it promises on its website, has been developing remarkable people .

Pastoral care continued to be an area of importance, and the restructuring of pastoral care arrangements in the Sixth, with increased emphasis on one-to-one meetings for pupils with tutors, was managed smoothly. Parental feedback continued to be exceptionally strong. Enquiries for places rose again, and the School continued to have waiting lists for entry into many of our year groups.

The Executive and Trustee Board continue to spend focused time ensuring the financial stability of the group, looking not just at the present but also to the short and medium-term future at opportunities as well as threats. We run the school on conservative financial principles with strict financial governance policies and procedures in place.

Our aim is also to be a school which provides an excellent current experience for pupils, while also investing strongly in their future via learning experiences which enable them to develop into ambitious, adventurous, caring adults. A new character education initiative was formally launched to staff, parents and pupils, and we ran our first selection days for pupils seeking admission into Y7 and Y9 which made sure that all entrants are now holistically assessed, and not merely academically.

The breadth of education offered at our schools was manifest in diverse performing arts (from formal evensong to talent shows), adventurous activities (CCF, DofE and overseas expeditions) and charitable activities including a successful repeat of our annual Service Day, when all pupils in the Senior School undertake a day of community service.

We continue to invest sustainably in our infrastructure. During the year, the new Sixth Form Centre emerged out of the ground, with a Topping Out ceremony undertaken in May. In addition, significant s at Berkhamsted Prep used by Y3 and Y4 children, and in adding photo-voltaic cells to the roofs of many appropriate buildings. Maintaining historic assets, investing in sustainable initiatives and the affordability of school fees are carefully balanced by the trustees and Executive. Our goal is to provide an outstanding all-round education at a competitive price and therefore we have continued to strive to constrain our fee increases for the past few years whilst finding efficiencies within the schools to allow continued investment in staff and facilities.

Our partnership work continues to be busy: as co-sponsor of the Wren Multi-Academy Trust, we have supported the excellent achievements of its schools in Enfield and Finchley, as well as helping with plans for expansion of the Trust, and support of the senior leadership. We support the people of the area through the provision of wraparound care and holiday camps to help working parents. In a new development, we have hosted booster weeks for Looked-After-Children in partnership with Hertfordshire Virtual Schools in both Easter and Summer. The Berkhamsted Society has links with over 40 local organisations and

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Berkhamsted Schools Group

ANNUAL REPORT OF THE GOVERNORS CHAIR’S REPORT

provides a programme of cultural and topical events for local people including the Band of the Household Cavalry, and an ‘Audience with BBC news presenter Kate Silverton. Whether it’s visiting a senior citizens’ home, a hospice, reading with pupils at local primary schools, or working with disabled adults and children, Berkhamstedians’ time and effort makes a difference to the lives of so many in our community. We also open up our facilities to the community, and the Centenary Theatre and Knox-Johnston Sports Centre are very well used outside of school hours.

On behalf of all the trustees, I would like to thank parents for their trust and support, staff for their skill, commitment and industry, and the pupils for the frequent and inspiring indications of their growth and potential.

C. COPLAND Chair of Governors

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Berkhamsted Schools Group STRATEGIC REPORT

CONSTITUTION AND OBJECTS

Berkhamsted Grammar School was founded on 14 October 1541, re-founded by an Act of Parliament in 1549, and is regulated by a scheme made under the Endowed Schools Act on 13 May 1887 and subsequent amendments. Berkhamsted Girls Grammar School was constituted by the above scheme on 13 May 1887. The administration and management of these two charities and other subsidiary charities were amalgamated by a scheme dated 14 August 1975 approved by the Charity Commissioners for England and Wales.

With effect from 1 August 2011, the School merged with Heatherton House, a Prep School for Girls in Amersham. As part of the merger process, Berkhamsted School changed its name to Berkhamsted Schools Group and became an incorporated charity. The registered charity number is 310630 and the registered company number is 622349.

The Charity has two operating wholly owned non-charitable subsidiaries, Berkhamsted School Enterprises Limited and Berkhamsted Day Nursery Limited. The school actively supports the provision of the highest standards of education in the independent sector and collaborates with many local charities, schools and organisations to widen public access to the education and facilities it provides for the public benefit.

education (including social and physical training) of boys and girls and in particular but without prejudice to the generality of the foregoing to conduct and maintain day or day and boarding schools in or near Berkhamsted, at which religious education in accordance with the principles of the Church of England is provided.

GOVERNANCE AND MANAGEMENT

Governing Body

There is one Governing Body for all the schools in the Group. Details of the Governing Body, together -5.

The Governing Body consists of between twelve and sixteen people with each Governor term limited to three years. Each Governor is limited to a maximum of three consecutive terms, unless elected to become the Chair or Vice Chair, or if the Board consider it would be in the best interest of the Charity for a Governor to be eligible for re-election, in which case further terms are permissible.

Recruitment and Training of Governors

The school s Governors are appointed at a meeting of the Governing Body on the basis of recommendations made by the Nominations Committee, taking into account eligibility, personal competence, specialist skills and availability.

New Governors are inducted into the workings of the school and of the Charity, including Strategy, Policies and Procedures, at an induction meeting organised by the Clerk to the Governors. Governor training is carried out by using seminars either organised nationally or arranged internally.

During the 2021-22 year, Governors undertook a voluntary governance review with a team from AGBIS undertaking a series of interviews with all governors and senior members of the executive. The outcome of this review was both to endorse strongly the governance of the School, and to make recommendations for consideration in respect of further development. As a consequence of this review, and the consequent implementation of recommendations, the Governors are satisfied that the Charity both applies the principles of the Charity Governance Code, and that governance is executed very well at the School.

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Berkhamsted Schools Group STRATEGIC REPORT

Organisational Management

The School Governors, as the Trustees of the Charity, are legally responsible for the overall management and control of the school and normally meet (as a full board) four times each year, plus one biennial meeting usually in Lent Term to review strategy.

The day-to-day management of the school is delegated to the Principal, Vice Principal, Chief Operating Officer and Chief People Officer who, together with the Headteachers of the respective schools in the group and the Assistant Vice Principal, External Relations, form the Executive. The Executive is supported by the Senior Management Team which includes the Deputy Heads and other key educational and operational roles.

Remuneration of staff is set by the Governors with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding fairly and responsibly individual contributions to the

The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools and the maintained sector to ensure that the school remains sensitive to the broader issues of pay and employment conditions elsewhere.

We aim to recruit, subject to experience, at the lower to medium point within a band, providing scope for key management personnel and staff costs are the largest single element of our expenditure.

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Berkhamsted Schools Group STRATEGIC REPORT

Employment Policy

The school is an equal opportunities employer. Equal consideration is given to job applications from all candidates irrespective of race, colour, religion, nationality, ethnicity, sex, disability, or age, whilst due consideration is given to any particular training and employment needs. Our applicant tracking system has been refined to further strengthen the process by adopting a blind shortlisting approach to recruitment. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests.

The school follows its Recruitment of Staff policies and Equal Opportunities policy, which is compliant with the Equality Act 2010, and has regard to the guidance issued by the Equality and Human Rights Commission states that the School will satisfy its duties under the Equality Act 2010 to eliminate all behaviour prohibited by the Equality Act 2010, to foster good relations between persons with and without protected characteristics and promote equality of opportunity regardless of whether a person has a protected characteristic.

In addition, the school has a strict Staff Code of Conduct policy that sets the standards of behaviour for all staff to ensure the ethos of the school is maintained.

AIMS, OBJECTIVES AND ACTIVITIES

Aims

-choice independent school in a wide catchment area for families seeking educational excellence and to develop remarkable people with an awareness, understanding and care for their community and the wider world.

The governors are mindful of the long-standing need to provide public benefit and of the requirements of the Charities Act 2011. In this connection the Board has monitored closely the guidance of public benefit produced by the Charity Commission together with its supplemental guidance on fee-charging.

Primary Objectives

The School continues to place huge importance on its Core Values. At the heart of every decision made and practice used we continue to cultivate a culture in which our values are evident. Our Values are as follows:

Aim High with Integrity

We believe that we should strive to be the best possible version of ourselves, in the classroom or debating chamber, on the stage or sports pitches, to be the best we can be in everything we do. To aim high with integrity done in support and not at the expense, of others.

Be Adventurous

Being adventurous is an important ingredient of aiming high. We need to discover what our talents might be before we can develop them, and this will only happen if we are adventurous in thought, word, and deed. We must all have the courage to fail and the should all think of mistakes whether made by ourselves or others as opportunities to learn. As Nelson up can be.

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Berkhamsted Schools Group STRATEGIC REPORT

Serve Others

We want our students to grow in moral purpose, character, and courage as they go through our school, and in doing so, contribute to the wellbeing of our community. We want them to become remarkable people. Our definition of success is an inclusive one, and our expectation of school life is for it to be a team game: we believe it is as important to contribute to the successes of others as to our own. Our definition of leadership includes elements of altruism, and being a school community, we often find that, in giving, we are also receiving. We celebrate and encourage the work of our students in the local community, as volunteers for example, and as those who engineer change for good, inside and outside the School. Our expectation is that Berkhamstedians will not just go on and do well, although of course, we expect that they will, but that they will also go on and do good.

The implementation of these values in the provision of education which is both excellent and broad, boarding and day, single sex and co-educational, large in scale, but small school in feel, traditional and forward looking continues to be the aim of the Group.

STRATEGIES TO ACHIEVE PRIMARY OBJECTIVES

The Group has selected seven areas of focus, which will not only help us to meet our primary aims and objectives but move us to a position where we are recognised to be world class. It must be noted that this list does not preclude our pursuit of excellence in all areas.

Teaching and Learning / ICT

the group to provide a core focus on dispositions within the four learning types (emotional, social, cognitive, and strategic). There is a focus on meta-cognition and self-regulation, as well as critical thinking to enable pupils to flourish in the world beyond School. We continue to work with schools in both the independent and maintained sectors, universities, and teacher training institutions to share best practice with Berkhamsted being a centre of excellence for teaching and learning. Alongside a strong focus on cyber security each pupil in Y5-13 has their own Microsoft Surface device, with younger children having access to class sets of iPads.

Wellbeing

The school recognises the importance of wellbeing amongst its pupils and staff and employs several strategies to encourage and promote it. The senior school operates a house system which ensures a high level of pastoral care for pupils which is further supported by the availability of counselling services and other initiatives such as the presence of wellbeing dogs throughout the school week. The School has also ool, class sizes are small enough to enable our teachers to notice any behavioural changes that may require their intervention. Staff wellbeing is also deemed very important and all staff have access to counselling services on request and provision is made for other beneficial activities such as mindfulness sessions, yoga, wellbeing treatments and a wide range of other social activities.

Outdoor Education

Very few schools in the South-East have strong Outdoor Education this is seen as a market differentiator. The School has a long and distinguished Duke of Edinburgh Award programme and Combined Cadet Force (CCF). Today pupils from Stepping Stones through to Year 13 have extensive opportunities to have a range of outdoor education experiences both at school and around the country and world. An Outdoor Education centre for the Group has been established on the site of the Pre-Prep school.

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Berkhamsted Schools Group STRATEGIC REPORT

Business Education and Skills

Berkhamsted is a business community and many of our parents are business professionals. Berkhamsted School is well placed to be a leader in Business Education and Skills and looks to achieve this by closing the gap between academic education and the world of work. We give our pupils an understanding of how business works and also work experiences outside of the main curriculum. By developing links with alumni and the local community we can offer insights into business and provide enterprise opportunities to enable pupils to develop the skills required for the modern workplace. The new Sixth Form Centre is nearing completion and is designed to help bridge the gap between school, university and work, and we continue to seek international opportunities that could give pupils a taste of international culture and diversity that will prepare them for careers in a global market.

Early Years

conferences and is seen as a beacon of best practice. We have a highly innovative curriculum and some of the best facilities in the country. The teaching facilities at the Pre-Prep in a wonderful woodland setting enable the school to provide the very best in Early Years Education as recognised by us being winners of the Independent Pre-Prep School of the Year, 2023. These facilities have been augmented during a period of significant investment in the facilities used by children between the ages of 5 months to three years old.

Sport

top sporting schools in England by being consistently:

Furthermore, we actively seek to have some of the highest participation rates in school sport for a large school as evidenced by the number of pupils who actively participate in physical activity each and every week.

Music and Drama

Berkhamsted offers pupils the opportunity of music and drama within the curriculum across the age span, but many pupils undertake additional lessons with 347 Senior pupils playing an instrument and 110 music exams taken by Senior pupils in the 2023/24 academic year. Drama also has many participants with over 265 Senior pupils taking LAMDA lessons each term.

FUTURE PLANS

5 year Strategic Plan was agreed by Governors in 2022. This was updated in January 2024 and will continue to be subject to bi-annual review by Governors. Significant progress has been made towards the objectives identified in this plan. Future plans to underpin the

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Berkhamsted Schools Group STRATEGIC REPORT

________________ the challenges posed by contemporary changes in society, the economy, further education and the workplace;

Developing our campus to support the education we seek to offer our pupils in every way;

Progress on each of the above strands is presented to Governors via RAG status dashboard at each termly full Governing Board meeting.

ACHIEVEMENTS AND PERFORMANCE

Review of achievements and performance for the year

2023/24 has been a very successful year for the school. During the year the school averaged 2,041 pupils, of whom 1,993 were day pupils and we have started the 2024/25 academic year with 2,187 pupils. Demand for places continues to be high and the creation of additional classes in Year 7 has allowed an increase of pupils in that part of the school.

Berkhamsted students achieved an outstanding set of GCSE & A Levels. 21.3% of GCSE results were at grade 9, and 70.6% at grade 7 or above. The continued increase in both attainment and value-added continues to show that Berkhamsted adds significant improvement to pupil outcomes when measured against other participating independent schools.

A Level results - 18.6% of A Levels were graded A; 52.9% at A or A; and 82.2% at A*, A or B. An increase was seen in all the highest grades by our hard-working pupils. Value-added results also remained very strong.

2023-2024 Sporting Results & Success

In athletics, the School entered the Hertfordshire County League, the Achilles Relays, the County Championships, the ESAA Track & Field Cup, and a number of Saturday Invitational events. The invitationals offer an opportunity for pupils of all abilities to participate and get an experience of athletic competitions. Both Junior and Inter Boys and Girls teams qualified for the Herts Schools League Final; the first time all four teams have qualified for the main final in 20 years. The School represented at the County Championships where we entered over 30 pupils from Year 7-13. We returned to Jarman Park for our School Sports Day and across the season, 21 school records were broken and three athletes qualified for the English Schools Finals.

It has been another busy year for Basketball at the School with the continuation of both the senior after school club and the introduction of a Prep after school Basketball club. Competitive fixtures for U13, U15 and U18 age groups took place and the U18 team competed in the North London League, with several well-contested matches and a memorable victory away at Mill Hill School. The School also organised interhouse Basketball competitions for the Sixth Form and Senior pupils.

The School ran 71 cricket teams across the Sixth, Senior and Prep Schools playing a total of over 280 fixtures across the ninest XI reached the regional final of the National U18 T20

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Berkhamsted Schools Group STRATEGIC REPORT

________________ st XI reached the quarter final of the National T20 Cup and

pupils becoming the top female wicket taker in the UK. The U14 girls team won the Hertfordshire County Cup and the U15 team reached the regional final of the National Indoor Competition.

In the Senior School, three of the four teams competing at the National Equestrian Championships finished in the top 5. The team became Hertfordshire County Champions with a Year 9 pupil winning the individual 1.1m event. Pupils represented the School at the Eventer Challenges and the Open Championships at Hickstead.

The school continues to maintain its strong reputation as a leading school for Eton Fives with 250 pupils Championship for the first time since 1981. House Fives competitions continue to be popular in the Prep

Football continues to be very popular across the whole school with over 1,000 pupils representing across 45 teams including A-E at U12 & U13 boy s level. Senior school teams compete in various Independent y and U15 & U13 teams competing in district and cup competitions. Our U13 team reached the finals of the ISFA Cup, and two pupils were selected for the ISFA national teams at U16 and U14 level.

The golf programme now offers regular after-school clubs for Year 6 to 13 with the partnership at Berkhamsted Golf Course in its second year. Across the year there were 6 friendly fixtures, and once again we entered the HMC Foursomes. An Old Berkhamstedians v School match was also played for the first time since 2009.

Gymnastics saw the continued progress of our U13 squad and an extremely successful competition season. The squad competed in both the British Schools and Independent Schools Gymnastics Association (ISGA) National Finals. They were successful in winning the U13 British Schools Trio National title, the ISGA National Group Sequence and Overall National title and one Year 8 pupil became overall ISGA National Individual Champion. The same pupil has since been selected for the Team GB programme.

In Lacrosse we played 278 fixtures across 20 teams including another showcase event held at StoneX in collaboration with rugby. The U14A team became National Champions along with the 3[rd] X team who were runners up and the 4[th] X team who won the St Cats Invitational National Championships. The 2[nd] X team and the U15A team became 5 Schools Tournament Winners, and we saw Hertfordshire County Championship wins from 3[rd] X, U15B, U14B, U13A and U12B. A Year 13 pupil was selected for the U20 England Squad competing in the U20 World Cup in Hong Kong over summer.

The 2023-2024 netball season was another successful one. Over 300 fixtures were played across 40 teams from U8-U19 recognising the breadth and depth of the sport across the school. At performance level, the U19 squad won two national titles in the Independent Schools Netball Cup and the Sisters & Sport National gained international selection, one of whom represented England U21 at Netball Europe and another representing Scotland U17 at Netball Europe.

In rugby union, the Senior School played 164 fixtures resulting in 96 wins and over 4,000 points scored. Over 850 students represented the school in rugby from U8-U18 and the school fielded A-D teams in most age groups. The U14A team reached the quarter finals of the National Cup and the U15A team reached the last sixteen. The U13A teams won the Caldicott 10s Plate. In terms of senior representation, two boys represented at academy level with 8 representing at age group level. Two boys represented at U18 south-east and south-west level. Two female students have also represented Saracens this year as we

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Berkhamsted Schools Group STRATEGIC REPORT

look to grow rugby for female pupils at the School. In Rugby Sevens, our U15A team won the MTS 7s ________________ competition and our U14A team reached the second day of Rosslyn Park. Our U16A team also reached the Hertfordshire Schools final and the U12A team finished 2[nd] overall in the Caldicott 7s tournament.

This year saw the reintroduction of our Ski Race Team as we entered U11, U13, U15 & U19 squads into the ERSA School Championships and the National Indoor Open Ski Championships. In the national indoor competition, the senior girls team won the national title, and a Year 9 pupil became U16 National Individual Champion. The squad continues to grow and attends monthly training sessions to prepare for race competitions.

Squash continued to grow this year with 45 fixtures against 16 schools. 15 pupils are now competing in national competitions, and 64 students are now ranked in the county and therefore playing competitive squash externally. This makes up over 20% of the ranked junior players in Hertfordshire. Our Under 16A, U16B, & U14 teams all reached the final stage of the national schools' competitions with most top players playing in their 'down year', as age categories cross multiple year groups. Internally, we have had just under 200 students attend our after-school clubs over the year, with another 200 more also playing in Games & PE lessons.

Pupils in Years 1 to 8 continue to swim as part of the PE curriculum and the extracurricular swimming programme offers both morning squad sessions and after school swim development sessions. In the Hertfordshire League the Intermediate Girls and Junior Boys were 1[st] and the Year 7A boys achieved 1[st] place in the Herts Final Swimming Gala. Our Intermediate Girls team qualified for the ESSA National Championships and the school took part in the Warwick Invitationals. In the prestigious Bath & Nalson Cup, the girls finished 23[rd] in the 4x50m freestyle relay and 22[nd] in the medley relay and the boys finished 37[th] and 45[th] respectively.

In Tennis, the School competed in 47 fixtures, many tournaments and increased our win ratio from 25.4% last year to 42.6%. Participation rates continued to improve this year with 125 pupils representing the School. Extracurricular tennis opportunities have grown this year with pupils now having access to three early morning open sessions and additional squad sessions for team players. In Year 9, 57 pupils opted to take part in tennis during Games lessons and 51 in Year 10, demonstrating a rise in popularity of tennis as an activity. This year we entered the Eton Tennis National Championships in U13, U15 and U18 age groups, with the U13 boys making it to the last 16. One Year 13 student was awarded a scholarship to Idaho State University for tennis and was selected for the ISTA National Tennis team.

A running community continues to grow with increasing numbers attending our early morning running clubs and all pupils in Year 3 to 10 participate in house cross-country events. A large Berkhamsted cohort, both staff and pupils, continue to support the Berkhamsted Rotary Fun Run. Our cross-country teams were entered into the district competitions where we won 7 out of 8 age groups. At the Herts Schools Championships, our top senior and inter female athletes finished in second place and our top junior male a

2023-2024 Music and Drama Achievements

In Music and Drama our students continued to excel; the hugely successful production of Into the Woods by Year 7 with the seniors performing a self-written production called Hungry like the Future which they also took to Edinburgh Fringe this summer which received huge accolade.

The Music department held musical Gala evenings, and showcased their talents too, culminating in a hugely successful Music tour to Paris in July this year with 140 pupils.

Community

continued with the regular House charity support, the Year 13 volunteering and the Year 7 litter

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Berkhamsted Schools Group STRATEGIC REPORT

picking. We were delighted to be able to welcome back Senior Citizens to our tea party in the summer. Whilst enjoying the musical talents of students they tucked into sandwiches and cakes (made by the students) and entered the cake judging competition. The usual non-school uniform days took place during the year with money raised donated to worthy charities.

In July the annual Prize Giving Service was attended by circa 3,000 parents, staff, governors, pupils, and guests; our prizes being value based and awarded on contribution to the school rather than based on academic achievement. The Academic Attainment awards were presented in an end of year assembly at each Senior school.

all using the opportunity to demonstrate the importance of character in relationship to the pupil journey and to the next stage of their life.

PUBLIC BENEFIT

In considering the provision of Public Benefit, the Governors have given due consideration to the Charity

Scholarships and Bursaries

The Governors are committed to broadening access to the school by offering means-tested bursaries to eligible parents/guardians. The gross value of scholarships and bursaries awarded totalled £1.598m (2023: £1.568m) of which £1.554m (2023: £1.562m) was met from unrestricted funds, where the policy is to assist in hardship cases where the pupil s education and prospects would otherwise be at risk. Bursaries are available both to new pupils to the school where a scholarship place has been offered and parents/guardians cannot afford the tuition fees, and also existing pupils where an unexpected change in result in a pupil being withdrawn part way through a stage of education.

The school has continued with its plans to raise the level of bursary funding through an increased programme of activity to reach out to talented pupils in the local community who would benefit from financial assistance towards fees. Bursary funding was £1.072m (2023: £1.152m) which supported 45 pupils, 26 of these receiving fully funded school places.

Scholarships are awarded on merit to pupils who Governors wish to attract to the school because of the contribution that they can make to school life, be that academic, musical, sporting, creative or leadership. Individual scholarship awards are usually worth 10% of tuition fees and means-tested bursaries are available to increase the support where needed. Financial assistance may also be provided, where appropriate, for uniform and sports kit, travel to and from School and for extra-curricular activities and lessons.

Partnerships with other schools and the community

The school seeks to share its expertise and perspectives with colleagues from state schools. This has involved exchanging teaching experience for newly qualified teachers and trainees and providing INSET advice for state school teachers and moderators. Our sports staff have organised tournaments for local and other state schools and the regular annual Oxbridge Information Evening is open to local state schools.

Our pupils take part in many activities in the community including visiting the local Hospice, helping in charity shops, visiting the elderly, hosting an Easter tea party, as well as assisting in local primary schools. Year 13 students also join The Student Consultancy which is run in conjunction with the Careers Service at the University of Oxford, a programme which is now being rolled out to schools around the country after its introduction here through which free management consultancy is offered to charities and local government.

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Berkhamsted Schools Group STRATEGIC REPORT

The Knox-Johnston Sports Centre is open to the public and priority is given to local children s groups and clubs.

The school is a co-sponsor with the London Diocese for Schools of Wren Academies Trust, based in Finchley and Enfield, providing two Directors for the Board, and two governors for each of the local governing bodies. The school continues to offer extensive help and advice to both the senior team and to Heads of Department at the Academy. Pupils from Wren Academy Trust continue to enjoy visits to a Building Learning Power school pre-dates ours.

We have also developed a similar partnership with Denbigh High School in Luton, sharing access to facilities and expertise. Denbigh High School does not have its own Sixth Form, and in September 2018 we admitted an initial intake of six aspirational pupils from this school to benefit from a Berkhamsted Sixth Form education, funded completely from School bursary funds and targeted donations. A further three pupils from Denbigh High School have joined our Sixth Form in September 2023 making a total of 39 since 2018. We have also established additional similar collaborations and partnerships, particularly across the wider Chiltern learning Trust.

Our Chief People Officer is Vice Chair of Governors at Ashlyns, a local secondary state school in Berkhamsted.

Pre-used digital devices have been donated to the Mission Employable charity and many of facilities have been utilised free of charge for local community and charity benefit.

During Easter and Summer holidays for the last 5 years the School has provided a free of charge Summer School for Hertfordshire County Council Looked After Children.

FINANCIAL REVIEW

Results for the Year

The Consolidated Statement of Financial Activities on Page 32 shows net incoming resources before transfers for the year of £4.170m (2023: £2.026m).

Income

School fee income was £42.873m in the year (2023: £37.332m), representing an increase of 14.8% which reflects the prevailing level of fee increase supplemented by higher pupil numbers. Ancillary income was also higher at £2.761m (2023: £2.489m) primarily due to higher revenue from school trips and extracurricular drama and music lessons.

Expenditure

A large proportion of the expenditure item is on staff costs and these rose in the year ended 31 July 2024 to £26.715m (2023: £24.577m), an increase of 8.7%. which was due to cost of living increases and higher Teachers Pension contributions.

Cash

net cash position increased during the year ended 31 July 2024. At the year-end the school had cash balances of £25.549m and bank borrowings of £8.624m resulting in a net cash position of £16.925m. (2023: £4.559m). The increase was primarily due to parents making advanced fee payments to the School.

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Berkhamsted Schools Group STRATEGIC REPORT

Subsidiary company performance

The School has two wholly owned trading subsidiaries. Berkhamsted School Enterprises Limited runs the various commercial activities of Berkhamsted School, and following the resumption of all activities operated pre-pandemic, recorded a profit of £146k (2023: £81k). Berkhamsted Day Nursery Limited provides daycare to babies and children under 3 years old and out of school hours care for Prep and Pre-Prep pupils. The Nursery company generated a profit before tax and gift aid of £141k (2023: £179k).

Contribution to UK authorities

direct contribution during the year to the UK Exchequer amounted to £10.6m (2023: £8.7m) of tax revenues national insurance contributions (NICs), business rates and council tax, Vehicle Excise Duty, taxes on business supplies purchased (such as VAT),

It is also worth noting that all parents in our school, as with all other private schools, contribute to State school funding via taxes whilst also in the State system. Formula, the estimated saving to the public purse is £13m per annum.

Going concern assumption

The Governors closely monitor the current and future expected financial performance of the school, taking into consideration budgets, forecasts and the longer-term strategic business plan. In 2024, these budgets, cashflows and forecasts have been remodelled to reflect plausible downside scenarios specifically relating to increasing energy costs and increases in interest rates. Conservative cash flows were prepared based on the revised forecasts with sensitivity analysis on the key assumptions such as the impact of a drop in pupil numbers. This scenario planning confirmed the cash reserves of the School are adequate to meet the and the same modelling continues to be valid to demonstrate the School is financially secure and able to operate effectively for the foreseeable future.

The School reported a strong cash position at the year-end together with healthy pupil numbers for 2024/25 offering the Governors a confident expectation that the charity has adequate resources to continue its activities for the foreseeable future, being at least 12 months from the date of approval of the financial statements with there being no material uncertainties over the school

Accordingly, Governors continue to adopt the going concern basis in preparing the financial statements as 27.

Fundraising Performance

The school continues to progress a number of initiatives to increase awareness amongst the s constituent communities to provide additional resources. £118k (2023: £105k) was raised during the year, with monies allocated to Bursary and Scholarship Funds. The Governors would like to thank all donors for their generosity and support for the school in this regard.

school has not engaged with third parties to raise funds and any direct approach to members of the public for funding has been limited to parents of pupils and alumni. No complaints were received in relation to our fundraising activities (2023: No complaints).

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Berkhamsted Schools Group STRATEGIC REPORT

Investment policy, objectives and performance

The Governing Body aims to maximise the overall return on the portfolio consistent with a degree of risk acceptable to it. Funds are invested with Brewin Dolphin in a broad range of global equities, bonds and other forms of investment.

The overall investment objective for total return for funds invested with Brewin Dolphin can be quantified as inflation plus 3% per annum. is monitored as a standing item by the Finance & Property Committee. During the year, the value of investments held with Brewin Dolphin rose from £1.810m in 2023 to £1.954m in 2024, an 8.0% increase. The school also has a second investment account for the management of the monies raised for its Anniversary Fund. The value of this investment account increased from £1.491m to £1.721m. This increase was due to £59k of additional funds and £37k of reinvested dividends in addition to an increase in the value of the existing investments. On an annual basis Governors assess performance in the light of prevailing market conditions. Whilst it is disappointing that the investment performance has not met the objectives set, the volatility across the market place over the last twelve months has driven the under performance and Governors will continue to assess the fund management effectiveness.

Reserves level and policy

The s cted income reserves to enable it to meet its short-term financial obligations in the event of an unexpected revenue shortfall.

The s reserves of £51.875m at the year-end included £7.985m of endowment funds, £0.230m of unspent restricted funds and unrestricted funds of £43.660m. The school has no free reserves at the balance sheet date due to the investment of funds in tangible fixed assets, largely buildings for use within the school. However, the Governors regularly examine the s plans for the future and are satisfied that they are adequate for the purpose of meeting its working capital requirements and that they will also cover strategic capital expenditure.

Notes 13 and 14 to the financial statements set out an analysis of the s on a fund by fund basis.

It is the s resources by means of annual operating surpluses and judicious management of investment assets.

Total investment return

During the year ended 31 July 2016 the Governors, in their role as Trustees, exercised the power granted under section 104A of the Charities Act 2011 to adopt a total return approach to investment of the . A permanent endowment of £1,144k was originally given to the school in 2003 and an initial valuation of the Unapplied Total Return (UTR) of £687k was approved by the Governors on 14 June 2016.

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Berkhamsted Schools Group STRATEGIC REPORT

PRINCIPAL RISKS AND UNCERTAINTIES

Safeguarding

As a school risks relating to Student wellbeing such as exposure to bullying, online threats, abuse and mental health issues are key for us to mitigate as failure to address these can lead to physical and emotional harm, reputational damage and potential legal repercussions. As a result we have implemented a suite of related policies such as Child Protection and Safeguarding, Prevention of Bullying, Wellbeing and Counselling amongst others and these are regularly reviewed to ensure compliance with the latest guidelines. All staff members undergo extensive training to recognise signs of harm and understand reporting procedures. We use robust digital monitoring systems to address online safety concerns and enforce strict access controls whilst promoting an exclusive environment where pupils feel safe to report concerns. We are committed to maintaining a secure and supportive learning environment.

Parent affordability

on 29 July 2024 that VAT will be implemented on independent school fees with effect from January 2025. In addition to the abolition of mandatory business rates relief for schools, the imposition of VAT follows on from other recent significant financial pressures for parents such as the cost of living and energy crises, the Russia Ukrainian war and the impacts caused by the COVID-19 pandemic. All of these issues also represent significant cost challenges for the School in terms of its own cost base and its supply chain sustainability. Whilst the uncertainty as to future fee levels has seen a more cautious approach to registrations, demand for places at the School remain high and Governors are keen to ensure all that can be done is done to maintain that interest. Governors are committed to mitigating the impact of VAT on school fees as far as possible, whilst ensuring that Berkhamsted's quality of provision remains exemplary. average well below that of the Independent School sector and general inflation.

Staff and pupil wellbeing

Linked to the effects of all the challenges referenced above, Governors are also very conscious of the potential risk to the morale and general wellbeing of staff and pupils and this is an area reviewed with Management on a regular basis.

Cyber security

Cyber risk and general data security remains in sharp focus, with schools continually being targets for cyber attacks. With the support of our Governors the School has invested in tools and user training to protect against attack and further control measures were implemented towards the end of the academic year when attempted attacks were seen to increase across the sector.

Teachers Pension Scheme

and the School has mitigated such risk by implementing a hybrid solution that balances the exposure to further cost rises with the need to retain and recruit outstanding staff.

Estates Development

The Governors have agreed an estates development masterplan aimed at ensuring the School can deliver the best and most appropriate facilities to help our pupils develop to the best of their potential and to prepare them for the world beyond school. Such ambitious building development plans also carry associated

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Berkhamsted Schools Group STRATEGIC REPORT

risks, particularly in relation to planning issues, that are managed with the appointment of relevant expertise and close Senior Management and Governor supervision.

Health and Safety

Health and Safety is considered to play a significant part in risk management. The risks range from fire and infrastructure to personal risks (most notably when away from the campus on trips and expeditions). Risk is mitigated via risk assessment and the enforcement of Health and Safety Policy which is monitored and Committee. The School also employs a Health and Safety Officer to ensure that the Health and Safety Policy is consistently applied along with mandatory Health and Safety training for all employees.

Governors are responsible for the management of the risks faced by the School. Detailed consideration of risk has been formally delegated by Governors to the Risk and Regulatory Committee, assisted by the Principal, Chief Operating Officer, and members of

SECTION 172 STATEMENT

purpose of the charity. All decisions and activities of the charity take into account how we best deliver that long-term purpose and are driven by our strategic aims (see page 10). All decisions we make as a charity, from our operational teams through to the Board of Governors, are made in the best interests of our beneficiaries, (pupils), and in the knowledge we are accountable to them, their parents, regulators and our staff.

The Board of Governors consider that they have adhered to the requirements of Section 172 of the Companies Act 2006 (the "Act") and have, in good faith, acted in a way that they consider would be most likely to promote the success of the school for the benefit of its key stakeholders and, in doing so, have had regard to and recognised the importance of considering all stakeholders and other matters (as set out in s.172(1)(a-f) of the Act) in its decision-making. Our Board of Governors consists of a broad mix of backgrounds including former and existing parents of the school, educational experts plus well-established commercial successes in areas such as law, property, finance and risk management. Many of our Governors are also local community members.

The Board has approved a number of policies that help to ensure the safety of our pupils and staff, such as Child Protection and Safeguarding, Wellbeing and Counselling, Health & Safety, Missing Persons, Critical Incident Plan, Online Safety, Prevention of Bullying, as well as those that ensure the integrity of our business conduct, such as Anti-corruption and Bribery, Bursary, Complaints, Whistleblowing, Anti-modern slavery. - the following location. https://www.berkhamsted.com/wp-content/uploads/2024/09/Anti-Modern-Slavery-Statement-2024.pdf

As part of the Governor induction process, governors are briefed on their duties and responsibilities under the Companies Act. The governors are entitled to request from the school all such information they may reasonably require in order to be able to perform their duties. On-going training is provided to the governors, as required, to ensure that their knowledge remains up to date and they continue to be able to discharge their duties as company directors.

For all decision making at Board level, discussion takes place around employee impact and impact on other stakeholders, such as pupils, parents and the local community. The relevance of each stakeholder group may vary by reference to the issue in question, so the Board seeks to understand the needs of each stakeholder group and any potential conflicts as part of its decisionand Senior Management team ensure the Board are fully focused on the impacts to each stakeholder group.

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Berkhamsted Schools Group STRATEGIC REPORT

operations and also challenge staff and be challenged by them.

Key decisions

For the year ending 31 July 2024, the Governors consider that the following are examples of key decisions that they made in the year. This is not intended to be an exhaustive list of board decisions but instead highlights areas of significant impact:

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Berkhamsted Schools Group STRATEGIC REPORT

Changes to Prize Day ceremonies from Summer 2025, separating year groups

Stakeholder engagement

The table below sets out our approach to stakeholder engagement during 2023/2024:

----- Start of picture text -----
Stakeholders Why are they important to Our approach to stakeholder engagement and
Berkhamsted School?
Parents We aim to involve parents as much as possible in the
customers and also joint
stakeholders in the
development of the pupils. strength in music, drama and sport.
Their involvement in the school
in both these capacities is In addition the Governing body is always cognisant of
fundamental to the success of the importance of fee levels in attracting and retaining
the school and we aim to form the pupil base and places great importance in the
a key alliance with Parents efficient running of the school and the tight control
through strong and varied of fee increases.
communication.
During the year we held year group parent
engagement dinners and several focus group
discussions.
Pupils The senior school takes a strong pastoral approach
integrity, Be adventurous and to the development of pupils by maintaining a
across the Berkhamsted family academic timetable.
of schools. Children from
Nursery through to Sixth and The purpose of assigning all pupils to a house with
staff too are encouraged to dedicated house tutors is to ensure that each
embrace these ideals in individual pupil has a sense of belonging and ready
everyday life. Our pupils are the access to approachable members of staff who will
very reason the school exists look to ensure that there is a strong focus on their
and their development is at the wellbeing. A revised pastoral structure for Sixth
heart of all we do. Form was successfully implemented from 1
September 2023, enabling a smooth transition to a
university or workplace environment.
An in-house psychologist adds expertise to the
pastoral support available.
Employees We have a Staff Consultation Committee that meets
to developing outstanding and regularly and raises matters to the Executive for
rounded individuals is essential discussion and decision and have a voluntary
for us to earn the trust of both arrangement in place with the NASUWT (the
existing and prospective NASUWT works to enhance the status of the
parents so that they have the teaching profession to deliver real improvements to
confidence that Berkhamsted
School is the best place for the recognised and rewarded as highly skilled
education of their children.
----- End of picture text -----

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Berkhamsted Schools Group STRATEGIC REPORT

----- Start of picture text -----
________________
Stakeholders Why are they important to Our approach to stakeholder engagement and
Berkhamsted School?
professionals with working conditions that enable
them to focus on their core role of teaching).
We have regular all staff meetings as well as a weekly
briefing to cascade important information to all levels
of the workforce.
Berkhamsted School is committed to promoting the
health and wellbeing of our workforce.
Suppliers We rely on a range of suppliers The school works closely with a wide range of key
to deliver services to ensure
the school can operate requirements in terms of service levels and price are
efficiently and effectively for the clearly understood and delivered upon.
benefit of our pupils and
workforce. It is vital that we At the same time the school works ethically with
build strong working suppliers settling invoices within payment terms and
relationships with our raising queries promptly.
intermediaries, including
around risk management and The school has well-developed internal processes to
customer service.
levels of authorisation for payment.
Community/wider We recognise the importance We make our facilities available free of charge to a
society of contributing to our number of local community groups whether that be
communities through schools, sports clubs or disadvantaged individuals.
volunteering, community
investment, and long-term In addition, we provide employment opportunities
partnerships. In addition, as a for a local learning disability employment charity.
significant employer in the area
and a large landowner we are For significant development activities, such as the
fully aware of our planning application for a new Sixth Form building,
responsibilities with regard to we hold public consultations to discuss details of our
the importance of sustainability plans with all interested parties and to seek their
and the impact our decisions feedback and concerns.
may have on climate
change.
Regulators We understand that regulators The Senior Management of the School are fully
are key in maintaining the involved in all areas where the School is subject to
credibility of both the school regulatory control. School Governor Committees
and the sector that we operate will be kept informed of all regulatory review
in. The school strives to be outcomes and recommendations and governors will
fully compliant in all areas in then ensure that Senior Management acts upon
which we face external recommendations to resolve any areas of structural
regulatory review and ensures or process weakness. We seek (and follow) guidance
that any regulatory changes are from relevant parties such as ISBA, IPA, ISC and BSA.
understood and acted upon
quickly.
Donors s All donations are gratefully received and
charitable entity provide acknowledged by the school. Donors are made
opportunities to increase the aware by the school website and other forms of
public benefit from the delivery communication of how their donations are being
used to provide educational opportunities.
----- End of picture text -----

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Berkhamsted Schools Group STRATEGIC REPORT

Stakeholders Why are they important to
Berkhamsted School?		 Our approach to stakeholder engagement and
aim of promoting the education
of its pupils.
Alumni The School recognises the
importance of its alumni in that
they are the representation of
talent and expertise in teaching
and pastoral care. The School
also regards its alumni as a
strong link to the outside world
which can provide further
benefit to current pupils.		 The School maintains contact with its alumni through
its links with the Old Berkhamstedians organisation
and also through the Berkhamsted Society which has
been set up by the School to encourage stronger
relationships between the town of Berkhamsted, the
School and its alumni.

Sustainability Report

Berkhamsted School is committed to incorporating sustainability into all of its teaching and activities. This is reflected in these initiatives amongst others:

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Berkhamsted Schools Group STRATEGIC REPORT

The School acknowledges the wider impacts of our activities and operations on the natural environment and our surrounding communities, and that our decisions and initiatives can make a difference for the better. Berkhamsted Schools Group support the UN’s Susta inability Development Goals (SDGs) and we therefore made sure that in setting our KPIs and goals that some of these aligned with the UN SDGs. We did this by identifying and focusing on the ones where we believe Berkhamsted can have the greatest impact. The targets we are focusing on are:

STATEMENT ON STREAMLINED ENERGY AND CARBON REPORTING (SECR)

GHG emissions and energy used between 1 August 2023 and 31 July 2024

UK and Offshore UK and Offshore UK and Offshore UK and Offshore
Measure
Units
2023/24
2022/23
Energy consumption used to calculate
emissions
Total Energy
(kWh)
7,675,000
8,778,000
Emissions from the combustion of gas
Scope 1 (tonnes
CO2e)
961
1,165
Emissions from the combustion of fuel for
transport
Scope 1 (tonnes
CO2e)
42
25
Emissions from purchased electricity
(location based)
Scope 2 (tonnes
CO2e)
465
443
Emissions from the combustion of fuel for
transport
Scope 3 (tonnes
CO2e)
0
0
Total gross tonnes CO2e
Scope 1, 2 and 3
1,468
1,633
Intensity ratio : Gross tonnes CO2e /
numberofstudents		 Intensity ratio 0.677 0.758

Methodology

The above data has been prepared in accordance with the provisions of the GHG Reporting Protocol Corporate standard and HM Government's Environmental Reporting Guidelines including streamlined energy and carbon reporting guidance, issued March 2019.

DEFRA conversion factors 2019 have been used to convert electricity and gas consumption in kWh to tonnes CO2e and to convert transport fuel consumption in mileage/litres to tonnes CO2e and then to kWh.

Action on energy efficiency undertaken during the reporting period

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Berkhamsted Schools Group STRATEGIC REPORT

The rolling programme of replacing all lighting to LED continued and is now 75% complete.

AUDITOR

Crowe U.K. LLP has indicated its willingness to be re-appointed as statutory auditor.

Insofar as each of the Governors of the school at the date of approval of this report is aware there is no relevant audit information (information needed by the s audit report) of which the s

should have taken as a governor in order to make himself/herself aware of any relevant audit information and to establish that the s

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Berkhamsted Schools Group GOVERNORS > FINANCIAL STATEMENTS

The Governors are responsible for preparing the Governors’ Report , the Strategic Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the Governors to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under charity law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its net incoming resources for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPROVAL

Act 2011 and the Companies Act 2006, was approved by the Board of Governors on 7 December 2024, including in their capacity as company directors approving the Strategic Report contained therein, and is signed as authorised on its behalf by:

C. COPLAND Chair of Governors

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Berkhamsted Schools Group

Independent

Opinion

for the year ended 31 July 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated Statement of Cash Flow and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements ilities 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 trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements he financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Berkhamsted Schools Group

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report ort. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

26, the governors (who are also the directors of the charitable company 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 control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are

includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the www.frc.org.uk/auditorsresponsibilities. This description forms

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

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Berkhamsted Schools Group

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a mat erial penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, Data Protection Regulation (GDPR), health and safety regulations, and employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within non-fee income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, substantive testing on non-fee income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

of Part 16 of the Companies Act 2006. Our audit work has 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 permitted 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 ou r audit work, for this report, or for the opinions we have formed.

Dipesh Chhatralia Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor

London

Date 19 December 2024

Page 31

Berkhamsted Schools Group CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account)

----- Start of picture text -----
Unrestricted Funds Restricted Endowment Year Year
Note Funds and Ended Ended
Building July July
Funds 2024 2023
General Designated Total Total
Income and endowments
from
Charitable activities 1 42,873 - - - 42,873 37,332
Ancillary trading income 2 2,761 - - - 2,761 2,489
Other trading activities
Non-ancillary trading income 3 1,610 - - - 1,610 1,397
Investments
Investment income 51 37 - - 88 92
Bank and other interest 958 - - - 958 371
Voluntary sources
Grants and donations - 4 57 57 118 105
Total Incoming Resources 48,253 41 57 57 48,408 41,786
Expenditure on:
Raising funds
Non-ancillary trading 4 1,306 - - - 1,306 1,123
Fundraising and Development 4 17 - - - 17 22
Total cost of raising funds 1,323 - - - 1,323 1,145
Charitable activities
Education and grant making 4 41,905 891 50 69 42,915 38,615
Total expenditure 4 43,228 891 50 69 44,238 39,760
Net income/(expenditure) 5,025 (850) 7 (12) 4,170 2,026
before transfers and
investment gains/(losses)
Gains/(losses) on investments 8 - 142 - 159 301 (70)
Net income/(expenditure) after 5,025 (708) 7 147 4,471 1,956
gains(losses) on investments
Transfer between funds 14 (5,025) 5,025 - - - -
Net movement in funds - 4,317 7 147 4,471 1,956
Fund balances at 1 August 2023 - 39,343 223 7,838 47,404 45,448
Fund balances at 31 July - 43,660 230 7,985 51,875 47,404
2024
----- End of picture text -----

Page 32

Berkhamsted Schools Group CONSOLIDATED AND SCHOOL BALANCE SHEETS for the year ended 31 July 2024

Notes
Fixed assets
Land and buildings
6
Other tangible assets
6
Investments
8		 Group
School
2024
2023
2024
2023
56,653
45,773
56,653
45,773
1,369
1,433
1,369
1,433
3,676
3,301
3,676
3,301
£000
£000
£000
£000
61,698
50,507
61,698
50,507
Current assets
Stock
9
Debtors
10
Cash at bank and in hand		 46
65
46
65
1,438
1,105
1,708
1,070
25,549
13,358
24,967
13,240
Creditors: Amounts falling due within one
year
11		 27,033
14,528
26,721
14,375
(15,643)
(7,998)
(15,331)
(7,845)
Net current assets / (liabilities) 11,390
6,530
11,390
6,530
Total assets less current liabilities
Creditors: Amounts falling due after one year
12		 73,088
57,037
73,088
57,037
(21,213)
(9,633)
(21,213)
(9,633)
Net assets 51,875
47,404
51,875
47,404
Endowment and building funds
14a
Restricted funds
14b
Unrestricted funds
Designated funds
14c		 7,985
7,838
7,985
7,838
230
223
230
223
43,660
39,343
43,660
39,343
Total funds 51,875
47,404
51,875
47,404

Company number : 00622349

The net incoming resources for the financial year dealt with in the financial statements of the parent Charity were £4.170m (2023 : £2.026m).

The financial statements were approved and authorised for issue by the Board of Governors on 7 December 2024 and are signed on their behalf by;

N. TWOGOOD

C. COPLAND (Chair)

Page 33

Berkhamsted Schools Group CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 July 2024

----- Start of picture text -----
Note 2024 2023
Net cash inflow from operations
Net cash provided by operating activities (i) 7,711 3,051
Cash flows from investing activities
Payments for tangible fixed assets (12,305) (4,322)
Receipts on disposal of tangible fixed assets 35 -
Cash transferred to Investment portfolio (59) (70)
Investment income 88 92
-
Deferred income payment from Investment Fund (5)
Bank interest received 958 371
Net cash used in investing activities (11,288) (3,929)
Cash flows from financing activities
Bank loans
Bank loan drawdowns - 9,000
Bank loan repayments (681) (492)
Fees in advance scheme
New fees in advance money 17,126 107
Amounts utilised (603) (1,106)
-
Amounts repaid (74)
Net cash provided by financing activities 15,768 7,509
Change in cash and cash equivalents in the 12,191 6,631
reporting period
Cash and cash equivalents at the beginning of the period 13,358 6,727
Cash and cash equivalents at the end of the period (ii) 25,549 13,358
(i) Reconciliation of net income to net cash flow from operating
activities
2024 2023
Net incoming resources 4,170 2,026
Elimination of non-operating cash flows:
- Investment income (88) (92)
- Bank interest received (958) (371)
- Loan interest charges 506 291
- Finance costs 17 22
Depreciation charge 1,457 1,181
-
Prior year donation applied as bursary funding (6)
Profit on disposal of a fixed asset (33) (39)
(Increase) / Decrease in stock 19 (36)
(Increase) / Decrease in debtors (333) (201)
Increase / (Decrease) in creditors (excluding fees in 2,636 (419)
advance scheme and deposits)
318 695
3,541 1,025
Net cash inflow from operations 7,711 3,051
----- End of picture text -----

Page 34

Berkhamsted Schools Group CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 July 2024

----- Start of picture text -----
(ii) Analysis of cash and cash equivalents
2024 2023
Cash at bank 25,549 13,358
(iii) Analysis of changes in net debt
1 Aug 2023 Cash flows 31 July 2024
Cash and cash equivalents 13,358 12,191 25,549
Borrowings:
- Debts due within one year (173) 13 (186)
-
Debts due after one year (8,626) (188) (8,438)
Fees in advance scheme (1,478) (16,449) (17,927)
Total net debt 3,081 (4,433) (1,352)
----- End of picture text -----

Page 35

Berkhamsted Schools Group STATEMENT OF ACCOUNTING POLICIES for the year ended 31 July 2024

BASIS OF PREPARATION

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The accounts are drawn up on the historical cost basis of accounting, as modified by the revaluation of investment properties and other investments.

The charity has taken advantage of the exemption available to a qualifying entity in FRS 102 from the requirement to present a charity only Cash Flow Statement with the consolidated financial statements.

The individual entities of Berkhamsted Schools Group have taken advantage of the disclosure exemption under FRS 102 to separately disclose categories of financial instruments and items of income, expenses, gains or losses relating to instruments as these have been presented on a group basis in the notes to the accounts.

The accounts present the Consolidated Statement of Financial Activities (SOFA), the consolidated balance sheet and the consolidated cash flow statement, comprising the results of the School and its wholly owned subsidiaries Berkhamsted Day Nursery Limited, Berkhamsted School Enterprises Limited and Berkhamsted Schools International Limited made up to 31 July 2024 and consolidated on a line by line basis. Intra-group transactions and profits are eliminated fully on consolidation. Uniform accounting policies have been adopted across the Group.

No separate SOFA has been presented for the Charity alone, as permitted by Section 408 of the Companies Act 2006.

The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee. It was incorporated on 5 March 1959 (company number: 622349) and registered as a charity on 15 November 1962 (charity number: 310630). Its registered office is 6 Chesham Road, Berkhamsted, Hertfordshire, HP4 3AA.

GOING CONCERN

The Governors closely monitor the current and future expected financial performance of the school, taking into consideration budgets, forecasts and the longer-term strategic business plan. In 2024, these budgets, cashflows and forecasts were remodelled to reflect plausible downside scenarios specifically relating to increasing energy costs and increases in interest rates. Conservative cash flows were prepared based on the revised forecasts with sensitivity analysis on the key assumptions such as the impact of a drop in pupil numbers. This scenario planning confirmed the cash reserves of the School are adequate to meet the is financially secure and able to operate effectively for the foreseeable future.

The School reported a strong cash position at the year-end together with healthy pupil numbers for 2024/25, offering the Governors a confident expectation that the charity has adequate resources to continue its activities for the foreseeable future, being at least 12 months from the date of approval of the financial statements, with there being no material unc

Page 36

Berkhamsted Schools Group STATEMENT OF ACCOUNTING POLICIES for the year ended 31 July 2024

Accordingly, Governors continue to adopt the going concern basis in preparing the financial statements as 28.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the accounting policies, trustees and management are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The items in the accounts where these judgements and estimates have been made include:

FEES AND SIMILAR EARNED INCOME

Fees receivable and charges for services and use of premises, less any allowances, scholarships, bursaries granted by the School against those fees, but including contributions received from restricted funds, are accounted for in the period in which the service is provided.

EXPENDITURE

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longerterm liabilities. Expenditure attributable to more than one cost category in the SoFA is apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate. Irrecoverable VAT is included with the item of expenditure to which it relates.

Governance costs comprise the costs of complying with constitutional and statutory requirements. Intragroup sales and charges between the School and its subsidiaries are excluded from trading income and expenditure.

DONATIONS, LEGACIES, GRANTS AND OTHER VOLUNTARY INCOME

Voluntary incoming resources are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.

Voluntary income for the School general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictions, voluntary income is credited to the relevant restricted fund and incoming endowments are accounted for as permanent trust capital or expendable trust capital, according to whether the donor intends retention is to be permanent or not.

TANGIBLE FIXED ASSETS

Page 37

Berkhamsted Schools Group STATEMENT OF ACCOUNTING POLICIES for the year ended 31 July 2024

Land and Buildings are carried in the balance sheet at their cost as the Governors consider it is not appropriate to apply a current value to such property. The cost of new buildings is added to fixed assets as it is incurred. The School seeks to maintain its properties in a good condition. The costs incurred in doing so, which can include major building modernisation and improvement, are written off as incurred. The cost of land and buildings represents expenditure since 1866. Foundation land and buildings bequeathed on trust for retention in perpetuity have not been valued.

The School capitalises strategic development projects (which are typically greater than £100,000), motor vehicles and significant equipment purchases; minor items of School equipment and furniture are written off in the year of purchase.

DEPRECIATION

Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual value based on current market prices in equal annual instalments over their expected useful economic lives as follows:

----- Start of picture text -----
||| |---|---| |Land & Buildings|1 - 10%| |Furniture & Equipment|20% - 25%| |Motor Vehicles|20% - 25%|

----- End of picture text -----

The Governors have considered the value of buildings and deem the depreciation policy appropriate.

INTANGIBLE FIXED ASSETS

The intangible fixed asset shown in the balance sheet relates to Finance and Human Resources management systems.

INVESTMENTS

Investments held as fixed assets are stated in the balance sheet at their bid price as at the balance sheet date. Any resulting gain or loss is taken to the fund to which it relates.

STOCK

Stock represents goods for resale and is valued at the lower of cost and net realisable value.

ENDOWMENT AND BUILDING FUNDS

subsequent additions to buildings. All strategic building projects from 2004 were funded from general reserves and in recognition of this, these costs have been separately identified within a designated unrestricted fund.

TOTAL RETURN INVESTMENT ACCOUNTING

A Charity Commission Order dated 21 October 2012 authorises the School for the investment of its permanent endowment. Under the Total Return Order, the School can invest its permanent endowments without regard to the capital/income distinctions of trust law and with discretion to apply any part of the accumulated total return on the investment as income for spending each year. Until this power is exercised, the total return is accumulated, under the Order, as a capital supplement to the of the permanent endowment.

Page 38

Berkhamsted Schools Group STATEMENT OF ACCOUNTING POLICIES for the year ended 31 July 2024

FUND ACCOUNTING

The charitable trust funds of the School and its subsidiaries are accounted for as unrestricted or restricted income, or as endowment capital, in accordance with the terms of trust imposed by the donors or any appeal to which they may have responded.

Unrestricted

decide to set aside any part of these funds to be used in future for some specific purpose, this is accounted for by transfer to the appropriate designated fund.

Restricted income comprises gifts, legacies and grants where there is no capital retention obligation or power but only a trust law restriction to some specific purpose intended by the donor.

Permanent endowment arises where a donor intends the gift to be retained permanently for use by the School (freehold land) or for financial benefit (by investment). The Total Return Order stipulates that any investment returns will accrue to a capital element (Unapplied Total Return) to the permanent endowment.

PENSION ARRANGEMENTS

For some teachers the School actuary and advised to the School by the scheme administrator. The School is unable to identify its share of the Scheme Funds and therefore the Scheme has been accounted for as a defined contribution scheme. For non-teaching staff the School contributes to defined contribution pension schemes. For the Teachers Pension Scheme and for defined contribution schemes the amount charged to the Statement of Financial Activities in respect of pension costs and other post-retirement benefits are the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet. The School also sets aside funds to meet unfunded pension obligations for certain former members of staff.

OPERATING LEASES

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

FINANCIAL INSTRUMENTS

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised value with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate year end exchange rate.

Page 39

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

----- Start of picture text -----
1 SCHOOL FEES 2024 2023
Fees receivable consist of:
Gross fees 45,479 39,829
Less: Bursaries, Grants and Allowances (2,650) (2,503)
Add back: Scholarships paid for by Restricted funds 44 6
42,873 37,332
2 ANCILLARY TRADING INCOME 2024 2023
Registration fees 150 171
Extra-curricular lessons 818 735
Hire and lettings income 80 70
Income arising from school trips 1,199 967
Other income 514 546
2,761 2,489
3 NON-ANCILLARY TRADING INCOME 2024 2023
Membership fees 42 37
Hire of facilities 221 132
Classes and admissions 171 168
Other income 96 39
Nursery care 1,007 964
Holiday camp 73 57
1,610 1,397
----- End of picture text -----

Page 40

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

4
ANALYSIS OF EXPENDITURE
4a
Total expenditure
Staff
Costs
Raising funds
Trading costs
993
Fundraising for voluntary
resources
-
Total costs of raising
funds
993
Charitable activities
Teaching
20,858
Welfare
30
Premises repair and
maintenance
2,151
Support costs and governance
2,682
Funding of scholarships
-
Total charitable
expenditure
25,721
26,714
2023
24,574		 Depreciation
-
-
-
436
-
1,022
-
-
1,458
1,458
1,181		 Other
Costs
313
17
330
5,682
2,700
6,118
1,187
49
15,736
16,066
14,005		 Total
Total
2024
2023
1,306
1,123
17
22
1,323
1,145
26,976
24,934
2,730
2,287
9,291
7,755
3,869
3,630
49
9
42,915
38,615
44,238
39,760
39,760

4b Governance included in support costs

Management time
-
Audit
-
Tax compliance
-
Other Services
Governors Indemnity insurance
Legal and professional fees		 2024
47
46
18
1
5
40
160		 2023
53
46
18
3
5
35
160

Page 41

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

5 STAFF COSTS AND RELATED PARTY TRANSACTIONS

Total staff costs comprise:
Wages and salaries
Social security costs
Pension contributions
Aggregate employee benefits of key management personnel		 2024
20,474
2,060
4,181
26,715
1,580		 2023
18,996
1,913
3,668
24,577
1,557

The number of employees whose emoluments (excluding employer pension contributions) exceeded £60,000 were:

£270,000 - £280,000
£250,001 - £260,000
£170,001 - £180,000
£120,001 - £130,000
£110,001 - £120,000
£100,001 - £110,000
£90,001 - £100,000
£80,001 - £90,000
£70,001 - £80,000
£60,001 - £70,000		 2024
1
-
-
2
1
2
5
3
18
40
72		 2023
-
1
1
-
1
1
1
5
8
44
62

During the year, the School introduced flexible remuneration and pension options for teaching staff, offering a choice between a defined benefit (DB) pension scheme (Teachers' Pension Scheme, TPS) and a defined contribution (DC) scheme. Staff who opt out of the DB scheme can choose to receive part or all of the employer pension contributions) reflect a mix of staff, some of whom have opted to sacrifice pension contributions in exchange for higher salary payments.

-end 31 July 2024 were

£1.071m (2023: £948k).

Redundancy or termination payments of £134k (2023: £171k) arose during the year. There was £38k outstanding to be paid at the year end (2023: £142k).

Page 42

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

5 STAFF COSTS AND RELATED PARTY TRANSACTIONS (CONTINUED)

The average number of employees during the year was made up as follows:

Teaching staff
School based support staff
Maintenance and domestic staff
Administrative and Sport Centre		 2024
Full
time
Part
time
185
97
102
112
37
24
17
17
341
250		 2023
Full
time
Part
time
186
90
97
113
38
25
18
18
339
246

In the year ended 31 July 2024 no Governors or persons connected with them received any remuneration or other benefits from the school (year ended 31 July 2023: £Nil). No expenses were reimbursed to Governors in the same period (2023: £194) in relation to the carrying out of their duties.

Gift aid transactions and year end balances between the Charity and its subsidiaries are shown in Note 15.

There are no further related party transactions requiring disclosure.

Page 43

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 July 2024

6 TANGIBLE FIXED ASSETS GROUP AND SCHOOL

Cost
1 August 2023
Additions
Disposals
Transfers
31 July 2024
Depreciation
1 August 2023
Charged in the year
Disposals
31 July 2024
Net book value
31 July 2024
31 July 2023		 Land and
Buildings
Assets under
construction
£,000
51,989
4,448
711
11,174
-
(30)
1,983
(1,983)
54,683
13,609
10,664
-
975
-
-
-
11,639
-
43,044
13,609
41,325
4,448		 Furniture and
Equipment
5,415
254
-
5,669
4,359
358
-
4,717
952
1,056		 Motor
Vehicles
901
166
(61)
1,006
524
124
(58)
590
416
377		 Total
62,753
12,305
(91)
74,967
15,547
1,457
(58)
16,946
58,021
47,206

Assets under construction comprise the new Sixth Form Centre together with the East Wing of the Old School building and a multi-purpose hall at Heatherton School both of which are still at the planning stage.

A number of school buildings with a combined value of £26.4 million have are pledged as security to NatWest Bank plc in connection with the loan facilities granted to the School for the Estates Masterplan development.

Page 44

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 July 2024

7 INTANGIBLE FIXED ASSETS

GROUP
Cost
1 August 2023
Additions
Disposals
31 July 2024
Depreciation
1 August 2023
Charged in the year
31 July 2024
Net book value
31 July 2024
31 July 2023
SCHOOL
Cost
1 August 2023
Additions
31 July 2024
Depreciation
1 August 2023
Charged in the year
31 July 2024
Net book value
31 July 2024
31 July 2023		 Software
costs
276
-
-
276
276
-
276
-
-
Software
costs
255
-
255
255
-
255
-
-

Page 45

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 July 2024

8 INVESTMENTS GROUP AND SCHOOL

Total
2024
Market value at 1 August 2023
3,301
Capital invested
59
Management charges
(17)
Revaluation
301
Net dividend income retained in
Investment Fund
32
Market value at 31 July 2024
3,676
Designated
Endowment
and Building
Total
2024
Total
2023
Managed portfolio
1,367
2,309
3,676
3,301
Market value at 31 July 2024
1,367
2,309
3,676
3,301
Historical cost of investments
1,260
2,069
3,329
3,198
Investments are represented by (at market value):
2024
UK equity shares
767
UK bonds
174
Overseas bonds
330
Overseas equity shares
1,962
Other investments
307
Cash
136
Total
3,676		 Total
2024
Market value at 1 August 2023
3,301
Capital invested
59
Management charges
(17)
Revaluation
301
Net dividend income retained in
Investment Fund
32
Market value at 31 July 2024
3,676
Designated
Endowment
and Building
Total
2024
Total
2023
Managed portfolio
1,367
2,309
3,676
3,301
Market value at 31 July 2024
1,367
2,309
3,676
3,301
Historical cost of investments
1,260
2,069
3,329
3,198
Investments are represented by (at market value):
2024
UK equity shares
767
UK bonds
174
Overseas bonds
330
Overseas equity shares
1,962
Other investments
307
Cash
136
Total
3,676		 Total
2024
Market value at 1 August 2023
3,301
Capital invested
59
Management charges
(17)
Revaluation
301
Net dividend income retained in
Investment Fund
32
Market value at 31 July 2024
3,676
Designated
Endowment
and Building
Total
2024
Total
2023
Managed portfolio
1,367
2,309
3,676
3,301
Market value at 31 July 2024
1,367
2,309
3,676
3,301
Historical cost of investments
1,260
2,069
3,329
3,198
Investments are represented by (at market value):
2024
UK equity shares
767
UK bonds
174
Overseas bonds
330
Overseas equity shares
1,962
Other investments
307
Cash
136
Total
3,676		 Total
2024
3,301
59
(17)
301
32
3,676
Total
2023
3,301
3,301
3,198
2024
767
174
330
1,962
307
136		 Total
2023
3,279
71
(22)
(70)
43
3,301
2023
647
159
323
1,609
381
182
3,301
1,367
2,309
3,676
1,260
2,069
3,329
3,676

Page 46

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 July 2024

----- Start of picture text -----
|||||| |---|---|---|---|---| |9|STOCK| |Group|School| |2024|2023|2024|2023| |Stock of goods for resale|46|65|46|65|

----- End of picture text -----

Stock held by the School comprises peripheral items for pupil digital devices.

----- Start of picture text -----
|||||| |---|---|---|---|---| |10a|DEBTORS: Amounts due within one year| |Group|School| |2024|2023|2024|2023| |Fees receivable|50|46|50|46| |Recoverable disbursements|42|53|42|53| |Trade debtors|132|179|18|77| |Other debtors and prepayments|1,031|639|998|635| |Due from subsidiary undertaking|-|-|417|71| |1,255|917|1,525|882|

----- End of picture text -----

10b DEBTORS: Amounts due in more than one year

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group|School| |2024|2023|2024|2023| |Other debtors and prepayments|183|188|183|188| |183|188|183|188|

----- End of picture text -----

Other debtors and prepayments due in more than one year relates to the obligation the school holds to use a court at a local squash club until the year 2059 following a contribution made to construction costs at the club in 2009.

Page 47

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

11 CREDITORS: Amounts falling due within one year

Bank loan
Fees received in advance
Payments received on account
Fee deposits held at year end
Trade creditors
Other
taxes
and
national
insurance
contributions
Other creditors
Accruals
Deferred income		 Group
2024
2023
186
173
5,250
585
123
243
3,513
3,197
3,659
1,856
506
524
549
423
1,179
757
678
240
15,643
7,998		 School
2024
2023
186
173
5,250
585
122
243
3,498
3,185
3,642
1,844
496
523
546
418
1,068
726
523
148
15,331
7,845		 School
2024
2023
186
173
5,250
585
122
243
3,498
3,185
3,642
1,844
496
523
546
418
1,068
726
523
148
15,331
7,845
7,845

All deferred income shown in the table above relates to fees for the 2024/25 school year. All deferred income held at 31 July 2023 was released in the following year.

Page 48

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

12 CREDITORS: Amounts falling due in more than one year

Bank loan
Fees received in advance
Deferred income		 Group
2024
2023
8,438
8,626
12,677
893
98
114
21,213
9,633		 School
2024
2023
8,438
8,626
12,677
893
98
114
21,213
9,633		 School
2024
2023
8,438
8,626
12,677
893
98
114
21,213
9,633
9,633

Fees received in advance total £17.927m of which £5.250m falls due within one year, and £12.677m falls due between one and five years. The balance represents the accrued liability under the contracts. The movements during the year were:

Balance at 1 August 2023
New contracts
Repayments
Amounts used in payment of fees to the school
Balance at 31 July 2024		 2024
1,478
17,126
(74)
(603)
17,927		 2023
2,477
107
-
(1,106)
1,478

The fees in advance scheme has been successful in raising funds to upgrade the School's facilities, such as the new Sixth Form building. By saving on financing costs compared to bank loans, the School can better manage and limit future fee increases.

Page 49

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 July 2024

The bank loan is analysed as:

Repayable:
Between one and two years
Between two and five years
In five years and more
Repayable within one year		 2024
2023
197
184
662
619
7,579
7,823
8,438
8,626
186
173
8,624
8,799

The charity has the following loans:

Both loans were taken out for the purpose of

Page 50

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

13 ALLOCATION OF SCHOOL NET ASSETS

Tangible fixed
assets
Investments
Endowment and building
funds
5,515
2,309
Restricted funds
-
-
Unrestricted funds:
Designated funds
42,177
1,367
Retained income
10,329
-
31 July 2024
58,021
3,676
31 July 2023
47,206
3,301
Unrealised gains / (losses) included above in investments:
Endowment and building funds
Designated funds		 Other assets/
(liabilities)
161
230
116
(10,329)
(9,822)
(3,103)
2024
159
142
301		 Total
7,985
230
43,660
-
51,875
47,404
2023
(48)
(22)
(70)

Page 51

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

14a ENDOWMENT AND BUILDING FUNDS

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Balance|Incoming|Resources|Investment|Transfers|Balance| |resources|Expended|gains/(losses)| |1 August|31 July| |2023|2024| |Represented by:| |Land and|5,584|(69)|5,515| |buildings| |Anniversary Fund|324|57|381| |Scholarship and|1,930|159|2,089| |prize fund| |7,838|57|(69)|159|7,985| |14b|RESTRICTED FUNDS| |The|223|12|(5)|230| |Berkhamstedian| |Foundation| |500|[th]|Anniversary|-|45|(45)|-| |Fund| |223|57|(50)|230| |14c|DESIGNATED FUNDS| |The|114|2|116| |Berkhamstedian| |Foundation| |500|[th]|Anniversary|1,186|39|142|1,367| |Fund| |Land and buildings|37,798|(891)|5,025|41,932| |Heatherton|245|245| |Development| |Fund| |39,343|41|(891)|142|5,025|43,660| |14d|UNRESTRICTED FUNDS| |School funds|-|48,253|(43,228)|(5,025)|-| |14e|TOTAL FUNDS HELD| |TOTAL|47,404|48,408|(44,238)|301|51,875| |FUNDS|

----- End of picture text -----

Page 52

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

Endowment and Building Funds

Land and Buildings

Tangible fixed assets are all held for use by the School. Land and Buildings represent assets donated on foundation and subsequent major additions at cost. As a consequence these assets are a mixture of those endowed to the School and those subsequently acquired. Tangible fixed assets are shown at cost in the balance sheet.

Buildings are depreciated at 1-10% of cost, with the charge being written off to the Endowment and Buildings Funds. All costs of maintaining the buildings are written off as expenses of the school in the year of expenditure.

Scholarships and Prize Fund

This fund represents bequests and donations received by the Charity, where the donor has specified that the funds should be used to provide opportunities for and acknowledgement of educational achievements for future generations. The investment income recognised on these funds is added to the balance each year.

During the year ended 31 July 2016 the Governors exercised the power granted under section 104A of the Charities Act 2011 to adopt a total return approach to the s . This allows the School to recognise an Unapplied Total Return element in the fund which is accessible for spending on current beneficiaries.

Under the Total Return approach, the school must ensure that the value of the fund does not fall below the core endowment value. The core endowment value is fixed at £1,144k representing the value of the endowment in 2003.

The overall movement in unapplied total return in the year ended 31 July 2024 was as follows:

Unapplied total return at 1 August 2023
Add: Investment losses
Less: Resources expended
Unapplied total return before transfer to income
Less: transfer to income
Unapplied total return at 31 July 2024
Add: core value
Scholarship and prize fund assets at 31 July 2024		 £
786
159
-
945
-
945
1,144
2,089

500[th] Anniversary Fund

This fund holds donations given to the school specifically to be invested under the name 500[th] Anniversary Fund to generate income from which school places will be made available to children who could not otherwise afford to attend the school. The name of the fund is in recognition of the forthcoming important anniversary of the s

Page 53

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 July 2024

Restricted Funds

The Berkhamstedian Foundation

This represents a restricted fund established for the purpose of providing resources for specific projects and to widen the opportunity for scholarships and bursaries.

500[th] Anniversary Fund

This part of the Anniversary Fund has been set up to receive donations to the Anniversary Fund that will be used to directly fund school places. The balance on this fund represents monies which have not yet been applied.

Designated Funds

Land and Buildings Fund

This represents fixed asset additions for major strategic projects mostly since 2004 funded from annual net incoming resources.

The Berkhamstedian Foundation

This represents a designated fund established by Governors. The fund represents unrestricted fundraising donations received which are set aside for the purpose of providing resources for specific projects and to widen the opportunity for scholarships and bursaries.

Heatherton Development Fund

The designated Development Fund represents unrestricted funds set aside by the Governors of Heatherton House School for the future functioning of the School.

500[th] Anniversary Fund

This fund is for unrestricted donations that the Governors have designated to be added to the 500[th] Anniversary Fund, a fund that provides access to the school for aspiring pupils who could not otherwise afford to attend.

Page 54

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

15 SUBSIDIARY UNDERTAKINGS

Berkhamsted Schools Group has three wholly owned subsidiaries all of which are registered in the United Kingdom and share the same registered office as the School (see page 5).

The trading subsidiaries pay all their distributable profits to the school through gift aid declarations and their results for the year and retained capital and reserves are shown below:

Berkhamsted Day Nursery Limited
Profit and loss account
Turnover
Total expenditure
Profit before tax and gift aid
Taxation
Gift Aid
Profit /(loss) after tax and gift aid
Balance sheet
Total assets
Total liabilities
Net assets
Costs recharged from Berkhamsted Schools Group
Amount owed from / (to) Berkhamsted Schools Group
Berkhamsted School Enterprises Limited
Profit and loss account
Turnover
Total expenditure
Profit before tax and gift aid
Taxation
Gift Aid
Profit /(loss) after tax and gift aid
Balance sheet
Total assets
Total liabilities
Net assets
Costs recharged from Berkhamsted Schools Group
Amount owed to Berkhamsted Schools Group		 2024
2023
1,007
964
(866)
(785)
141
179
-
(141)
(179)
-
-
288
62
(288)
(62)
-
-
48
39
(176)
(8)
2024
2023
603
433
(457)
(352)
146
81
-
(146)
(45)
-
36
441
161
(441)
(161)
-
-
16
15
(241)
(62)

Page 55

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

16 PENSION SCHEME

The School charge for the year includes contributions payable to the TPS of £3.133m (2023: £2.718m) and at the yearend £396k (2023 - £226k) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multibutions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by at 31 March 2020 and the Valuation Report was published in October 2023.

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that benefits for groups of relevant members.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Page 56

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

17 COMMITMENTS UNDER OPERATING LEASES

At 31 July 2023 the School had minimum lease payments under non-cancellable operating leases as follows:

Plant and machinery:
Due within one year
Due between one and five years		 2024
1,070
899
1,969		 2023
599
920
1,519

18 CAPITAL COMMITMENTS

There are £9.652m (2023: £13.638m) of capital commitments as at 31 July 2024.

19 FINANCIAL INSTRUMENTS

which totalled £3.676m (2023: £3.301m). Income from assets measured at fair value in the year totalled £51,000 (2023: £51,000) and unrealised gains totalled £301,000 (2023: loss of £70,000).

Page 57

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

20 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVE FIGURES BY FUND TYPE

Year Ended 31 July 2023

Income and endowments from
Charitable activities
School fees receivable
Ancillary trading income
Other trading activities
Non-ancillary trading income
Other activities
Investments
Investment income
Bank and other interest
Voluntary sources
Grants and donations
Total Incoming Resources
Expenditure on:
Raising funds
Non-ancillary trading
Fundraising and Development
Total deductible costs
Charitable activities
Education and grant making
Total expenditure
Net incoming funds from operations
before transfers and investment
gains
Gains/(losses) on investments
Net income/(expenditure) after
gains(losses) on investments
Transfer between funds
Net movement in funds
Fund balances at 31 July 2021
Fund balances at 31 July 2022		 Unrestricted Funds
Restricted
Funds
Endowment
and
Building
Funds
School
Designated
Total
37,332
-
-
-
37,332
2,489
-
-
-
2,489
1,397
-
-
-
1,397
52
40
-
-
92
371
-
-
-
371
-
6
33
66
105
41,641
46
33
66
41,786
1,123
-
-
-
1,123
22
-
-
-
22
1,145
-
-
-
1,145
37,820
717
9
69
38,615
38,965
717
9
69
39,760
2,676
(671)
24
(3)
2,026
-
(22)
-
(48)
(70)
2,676
(693)
24
(51)
1,956
(2,676)
2,676
-
-
-
-
1,983
24
(51)
1,956
-
37,360
199
7,889
45,448
-
39,343
223
7,838
47,404

Page 58

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

21 SUMMARY OF MOVEMENTS ON SCHOOL FUNDS AND ANALYSIS OF NET ASSETS BETWEEN FUNDS

Year Ended 31 July 2023

21a
ENDOWMENT AND BUILDING FUNDS
Balance
Incoming
resources
Resources
Expended
Investment
gains/(losses)
Transfers
Balance
1 August
2022
31 July
2023
Represented by:
Land and
buildings
5,653
-
(69)
-
-
5,584
500thAnniversary
Fund
258
66
-
-
-
324
Scholarship and
prize fund
1,978
-
-
(48)
-
1,930
7,889
66
(69)
(48)
-
7,838
21b
RESTRICTED FUNDS
The
Berkhamstedian
Foundation
193
33
(3)
-
-
223
500th Anniversary
Fund
6
-
(6)
-
-
-
199
33
(9)
-
-
223
21c
DESIGNATED FUNDS
The
Berkhamstedian
Foundation
111
3
-
-
-
114
500thAnniversary
Fund
1,165
43
-
(22)
-
1,186
Land and buildings
35,839
-
(717)
-
2,676
37,798
Heatherton
Development
Fund
245
-
-
-
-
245
37,360
46
(717)
(22)
2,676
39,343
21d
UNRESTRICTED FUNDS
School funds
-
41,641
(38,965)
-
(2,676)
-
21e
TOTAL FUNDS HELD
TOTAL
FUNDS
45,448
41,786
(39,760)
(70)
-
47,404

Page 59

Berkhamsted Schools Group NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

21f ALLOCATION OF SCHOOL NET ASSETS

Year Ended 31 July 2023

Endowment and building
funds
Restricted funds
Unrestricted funds:
Designated funds
Retained income		 Tangible fixed
assets
5,584
-
38,047
3,575
47,206		 Investments
2,115
-
1,186
-
3,301		 Other assets/
(liabilities)
139
223
110
(3,575)
(3,103)		 Total
7,838
223
39,343
-
47,404

Page 60