Charity registration number 310634
Company registratlon number 3896631England and Wales)
ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
LEGALAND ADMINISTRATIVE INFORMATION
Headmistress
Patricia Adams MA(Oxon)
Govemors
Derek Wilson (Chair of Governors)
Chris Bayliss {Education Lead Governor)
David Campkin (Finance Lead Governor)
Nick Moss
Nick Hall¢hur¢h
Marina Hall
Stephanie Clifford
Anne Freeman
Devinder Bansi
Rory Fisher
Sian Salek
(Appointed 21 May 2024)
(Appoinled 21 May 2024)
Secretary
Michael Boddy
Charity number
310634
Company number
389663
Registered office
St. Mary's School
Gerrards Cross
Bucks
SL9 8JQ
Auditor
Gravita Audit Oxford LLP
Firsl Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Bankers
The Royal Bank of Scotland
40-42 High Slreel
Maidenhead
Berks
SL6 1QE
Solicltors
Veale Wasborough Vizards. LLP
24 King William Street
London
EC4R 9AT

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
CONTENTS
Page
Govemors. report
Statement of Govemors, responsibilities
Independent auditols report
Statement of financial activities
Balance sheel
10
Statemenl of cash flows
11
Notes to the financial statements
12-26

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 JULY 2024
The Governors present their annual report and financial statemenls for the year ended 31 July 2024.
The financial statements have been prepared in accordance with Ihe accountin9 policies sel out in nole 1 to the
financial statements and comply with the Charity's Memorandum and Articles of Association. the Companies Act
2006 and "Accounting and Reporting by Charities.. Slatemenl of Recommended Practice applicable to charities
preparing their accounts in aGcordance wrth the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) (effective 1 January 2019)"
Objectives and activities
The objectives of the Charity are sel oul in the Memorandum of Association. They may be summarised as the
carrying on of a School for girls where the students may obtain an education of the highest order, the holding of
religious ServI￿S and delivering religious instruclion in accordance with the doctrine and principles of the Church
of England and the undertaking of activities to advance the cause of education.
The Charity has the general mission of providing an excellent edu¢alion in a cafing, happy environment. where
each girl develops self-confidence and achieves her full potential.
When considering the stfalegies employed to achieve the objectives, the Governors have given careful
consideration to the Charity Commission's general guidance on public benefit and in particular to its
supplementary public guidance on advancing edutstion and on fee charging.
The strategies employed to a¢hieve the Charity's objectives are..
To continually monitor the quality of teaching, through target setting, inset training, observation, sharing and
discussion of good practi￿, as well as updating resources and adding new curricula.
To offer equal opportunities to all girls,. lo ensure all individual needs are addressed, that all opportunities are
accessible to everyone, providing flexible streaming and rotation of staff.
To provide moral and spiritual guidance and support, fostering self-confidence. self-esteem. and well-being. as
well as aiding learning.
To promote an active partnership with the local community and parents through regular fomial and informal
meetings. as well as communication through email and Parentmail.
To ensure high levels of pastoral care, by building strong pupil-staff relationships as well as being able to offer
the support of a qualified school counsellor.
To regularly assess leadership and managemenl, through professional and independent review and feedback
from departments, pupils and parents.
To provide continuing support of our pupils already in receipt of bursaries.
To mainlain the provision of means-tested bursary places to not lower than 5 % of lotal income.
To continue to develop link5 With local state schools.
The primary activity of the Charity is to educate girls from the ages of 3 10 18 within a Christian framework. In
addition to the wide range of academic subjects offered and laughl, the School is able to enhance the
educational experience through the many clubs and extiacurricular aclivilies offered. Christian values are
incorporated through assemblies and in everyday school life.
The Governors have paid due regard to guidance issued by the Charity Commission in deciding what activities
the Charity should undertake.

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Achièvements and pgrforniance
The A_Level results achieved in 2024 were 26% A"IA, 53 A'I8, 790A A"IC. The assessmenl standards and
methods of examination in 2024 reverted to those used in 2019, prior lo Covid influenced variations. These
results compare with results in 2019 which were 370h A'IA, 609h A"IB and 870/0 A'lc.
The results achieved al GCSE by Year 11 girls matched the high expectations placed upon them. From the
grades achieved. 49.60/0 were Level 9-7. 70.6D/, Level 9-6 and 940/0 Level 9-4 - very similar to those achieved in
2023. These results exceeded the results achieved by the GCSE cohort in 2019.
St Marys offers a wide range of subjects al GSCE and A-Level, including EPQ, and has an eslablished
enrithment programme.
The School continues to recruit high quality teaching staff which. alongside inveslment in facilities, offers an
excellent environment to all students. 11 is this environment that allows our students lo deliver such creditable
examination resulls.
Pupil numbers increased again this year. The School promotes a three-fomi entry into Year 7. for whith teathing
staff and teaching assistants are employed to maintain the School's ethos, ensuring that time is invested into
each girl to allow everyone to reach their full potential. Importance is still pla￿d on extracurricular activities, wilh
girls involved in sport, drama, music, debating and parti¢ipating in the Duke of Edinburgh award scheme.
Financial revlew
The school Conlinues to build a slrong financial posilion allowing the Governors to Invest in its infrastructure. The
Governors will maintain a level of reserves adequate to protect against any unforeseen orcumstan￿5 as
occurred in the previous Iwo years.
Nel Income for the year amounted to £101,919 {£53,251 in 2022123). The increase in net income Is partly due to
8 lower level of irregular maintenance costs than occurred in the prior year.
The School continued to reflect ils charitable commitments through the dislribulion of bursaTies, scholarships and
discounts worth a total of £836,491, being 10.1 % of gross fee income.
The funds of the Charily are wholly invested in School property and other fixed assets. School fees ieceivable,
less any discounts given. cover the cost of providing tuition and other running costs of the School. The fees are
set al a level that will provide sufficient funds to cover the cost of regular maintenance and modernisalion of
exisling facilities and for funding new buildings in the future.
Reserves policy
The Governing Body has examined the requirement for free reserves, i.e. those income funds that are freely
available for general purposes and are not invested in tangible fixed assets, designated for specific Pufposes or
otherwise committed. The Governors have agreed Ihat the School should aim to hold between £500,000 and
£2,000.000 in free ieserves in order to be able to meet unplanned expenditures. most likely in relation to urgent
repairs andlor the mainlenance of the School. Overall, the Governors require the operation of a light cash flow
management system at all limes to ensure that the School holds sufficient cash to meet any outstanding
liabilities. At the end of the period, there were free reserves of £1,841.871.

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Risk8
The Governors regularly review all financial and operational risks which may have an Impact on the School.
Procedures are adopted to mitigate per￿1Ved risks, and these are subject to regular review to ensure thal there
are adequate safeguards in place. Risks fall into the following categories - Govemance, Operational, Financial.
External and Compliance. A full review of these risks was conducted during the year and the School's Risk
Register was re-written and updated to include recent shifts in both the economic and political Climates.
The School's public benefit obligation remains in the forefront of the Governors, thinking. As an educational
¢harity, the School's educational activities have benefrted directly from tax exempt status and its bursary and
ac¢essibility policies benefft indiredly from the lax exemption.
However, from January 2025 VAT will become chargeable on independent school fees at the slandard rate of 20
DA and from April 2025 the dISc￿Unt entillemenl of education charities on Business Rates will cease to be
available. The ultimate iffipad of the addition of VAT to fee invoices and the exlent to which it makes a private
education less affordable lo some parents is impossible to forecast and quantify with any accuracy. The School's
policies regarding bursaries and aC￿SsIbl111Y may have to be reviewed as the impact of the loss of tax-exempt
status bites.
Public Benefit Obligation
Despite the loss of its tax-exempi status the charty continues to have a publi¢ benefit obligation. The School V￿11
continue lo grant fee reductions commensurate with ils financial situation, involve itself in communtly affairs
approprialely and offer its facilities to local interests for the greater good.
Structure, governance and management
St Mary's School, Gerrards Cross, Limited is a ¢ompany limited by guarantee governed by its Memorandum and
Articles of Association dated 6 September 1944 and amended to allow for curreni governance arrangements on
9 February 1955. 3 July 1955, 10 May 2012 and 6 May 2016. It is registered as a Charity with the Charity
Commission. The liabilities of the members are limited lo £1.
The Governors of the Charitable Company (the Charity) are its Trustees for the purpose of charity law and
Directors for the purposes of company law but by custom and practice throughout the School they are always
referred to as Govemors. The Board of Governors is comprised of members with a broad range of expertise.
There are Governors with backgrounds in law, accountancy, education, business management, medicine and
real estate. Throughout the year the Govemors have been=
Derek Wilson (Chair of Govemors)
Chris Bayliss (Educalion Lead Governor)
David Campkin (Finance Lead Govemor)
Nick Moss
Nick Hallchurch
Marina Hall
Slephanie Clifford
Anne Freeman
Devinder Bansi
Rory Fisher
Sian Salek
(Appointed 21 May 2024)
(Appointed 21 May 2024)

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
As sel out in the Articles ofAssociation the Chairman of the Board of Govemors is appointed by ihe members of
the Board ai an ordinary general meeting. The Governors may also appoinl a new Governor subject lo ratification
at the nexl ordinary general meeting.
Organisatlon
The Board of Govemors determines the general policy of the School. The daily management of the School is
delegated to the Headmistrèss and the Bursar. The Board meets twice each term. There are no formal sub-
committees though there are Lead Governors for Education, Finance & General Purposes. Health & Safety.
Safeguarding and Mental Health. SEN and PSHCEE and Eady Career Teachers.
Governor Induction and Training
All new members are issued wilh the Guidelines for Governots. They are encouraged to attend appropriate
external training evenls. All Govemors participate in Safeguarding training.
Credltor Policy
The company's current policy concerning the payment of trade credrtors Is to follow the CBI'S Prompt Payers
Code.
The company's current policy con¢eming the payment of trade creditors is to..
sellle the tems of payment with suppliers when agreeing the terms of each Iransaclion..
• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in conlracts.,
and
pay in accordance wilh the companVs contractual and other legal obligations.
The Govemors, report was approved by ihe Board of Govemors.
Michael Boddy
Secretary
Dated..

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
STATEMENT OF GOVERNORS, RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2024
The Governors, who are also the directors of St Mary's School, Gerrards Cross, Limited for the purpose of company
law, are responsible for preparing the Governors. Report and the financial statements in accordance with applicable
law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Governors to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the Charity and of the incoming resources and application of resour¢es. including
the income and expendilure, of the charitable company for that year.
In preparing these financial ststemenls, the Govemors are required to:
sele¢t suitable a¢¢ounting policies and then apply them consistently.,
obsetve the methods and principles in the Charities SORP-,
make judgements and estimates that are reasonable and prudent..
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless Il is inappropriate to presume that the Charity
will continue in operalion.
The Governors are responsible for keeping adequale accounting records that disclose with reasonable accuracy at
any lime the financial position of the Charity and enable them lo ensure that the financial statements comply with
Ihe Companies Act 2006. 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 olher irregularities.

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
Opinlon
We have audiied Ihe financial statements of Sl Mary's School, Gerrards Cross, Limited (the 'Charity') for the year
ended 31 July 2024 which comprise the statement of financial activities. the balance sheet, the statement of cash
flows and notes to the financial slalemenls, 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=
give a true and fair view of Ihe state of the charitable company's affairs as at 31 July 2024 and of ils incoming
resources and application of resources, for the year then ended.,
have been properly prepared in accordan￿ with Uniled Kingdom Generally Accepled Accounting Practice.,
and
have been prepared in accordan¢e with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Inlemalional Standards on Audiling (UK} IISAS (UK}) and applicable
law. Our responsibilities under those standards are further described in the Audilorfs responsibilities ft&r thè audit of
the financial statements section of our report. We are independent of the Charily in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Governors, use of the going 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 lo events or
conditions that, individually or collectively, may casl significant doubt on the Charity's ability lo continue as a going
concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the informalion included in the annual report other than the financial statements
and our auditorfs report thereon. The Governors are responsible for the olher information conlained within the
annual report. Our opinion on the financial slalements does not cover the other informalion and we do nol express
any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so,
consider whelher the other information is materially inconsistent with the financial statements or our knowledge
obtained in the Course of the audit, or othetwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misslalements. we are required lo determine whether Ihis gives rise to a
material misstatement in the financial slalemenls 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following mallers in relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report lo you if, in our opinion-.
the information given in the financial statements is inconsistent in any material respect wtth the Governors,
report., or
sufficient accounting records have nol been kept,. or
the financial statements are not in agreement with the accounting records.. or
we have not received all the information and explanations we require for our audit.

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
Responsibilities of Governors
As explained more fully in the statement of Governors, responsibilities, the Governors, who are also the directors of
the Charity for the purpose of company law, are responsible for the preparation of the financial stalements and for
being satisfied that they give a true and fair view, and for such internal conlrol as the Governors determine is
necessary lo enable Ihe preparation of financial statements thal are free from material misstatement, whether due
to fraud or error. In preparing the financial $18lemenls, the Governors are responsible for assessing the Charity's
ability to continue as a going concern, disclosing, as applicable, matters related to going Gon￿rn and using the
going con¢em basis of accotsnling unless the Governors either intend to liquidate the charitable company or lo
ase operations, or have no realistic alternative bul to do so.
Audltofs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulalions made or having effect thereunder.
Our objectives are to obtain reasonable assurance aboul whelher the financial statements as a whole are free from
material misstatement. whether due to fraud or error, and to issue an auditols report that includes our opinion.
Reasonable assurance is a high level of assurance but is nol a guarantee Ihat an audit conducted in accordan
with ISAS (UK) will always detect a material misslatemenl when it exists. Misslalements can arise from fraud or
error and are considered material rf, individually or in the aggregate, they could reasonably be expected to inlluence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliano with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance wilh laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations..
we identified the laws and regulations applicable lo the charity through discussions with governors, and
from our knowledge and experience of the client's sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the charity, including Charities Act 2011, data protection, anti-
bribery, employment, environmental and health and safety legislation-
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management. and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instsnces of non-complian￿ throughout the audit.
We assessed the susceptibility of Ihe charity's financial statements to material misststement, including obtaining an
understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was SUs￿ptibIlity lo fraLSd, their
knowledge of actual, suspected and alleged fraud.,
considering ihe intemal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations. and
To address the risk of fraud through management bias and overnde ofcontrols, we-
performed analytical procedures to identify any unusual or unexpected relationships.,
tested journal entries to identify unusLsal transactions.,

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE GOVERNORS OF ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
assessed whether judgements and assumptions made in determining the a¢¢ounting eslimales {set out in
Note 1) were indiGative of potential bias:
investigated the rationale behind significant or unusual transactions.. and
In response to the risk of irregularities and non-compliance with laws and regulations, we designed prO￿dureS
which included, but were not limited to..
agreeing financial slalement disclosures to underlying supporting doGumentalion',
reading the minutes of meetings ofthose charged with governance;
enquiring of management as to actual and potenlial lrtigation and claims,
There are inhereni limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely il is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required lo identify non-compliance with laws and regulations lo
enquiry of the governors and olher management and the inspection of regulatory and legal Corresponden￿, if any.
Material misstalemenls that arise due to fraud Can be harder to detect than those Ihat arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Finanaal Reporting Counal's website at:
www.frc.or
.uklaudilorsres
onsibililies.
This description forms part of our auditor's report.
Use of our report
This report is made solely to the chartty's Iruslees, as a body. in accordance with part 4 of the Charities (Accounts
and Reports) Regulalions 2008. Our audit work has been undertaken so that we might state lo the chanty's trustees
those matters we are Tequired lo state to them in an auditor's report and for no olher purpose. To the fullest extent
permilled by law, we do not accept or assume responsibility to anyone other Ihan the charity and the charity's
Iruslees as a body, for our audil work, for thi5 report, or for the opinions we have formed.
Katherine Wilkes {Senior Ststutory Auditor)
for and on behalf of Gravita Audit Oxford LLP
3111125
Chartered Accountants
Statutory Auditor
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
Reststed
Total Unrestricted Restricted
funds
funds
2023
2023
Restated
Total
UnrestriGted Restricted
funds
funds
2024
2024
2024
2023
Notes
Income from:
Charitable activilies
Investrrtenls
7,569,533
70,880
5,000 7,574,533
70,880
7,132,367
33.270
7.132,367
33,270
Total Income
7,640,413
5,000 7.645,413
7.165,637
7.165,637
Expenditure on:
Charilable activities
Other expenditure
7,533,208
5,775
4,511
7.537,719
5,775
7,108,391
3,995
7,108,391
3,995
Totsl expenditure
7.538.983
4,511
7,543,494
7,112,386
7.112,386
Net income
101,430
489
101,919
53,251
53,251
Other recognised
gains and losses:
Actuarial 9ains on
defined benefit pension
schemes
2.734
2,734
6,232
6.232
Net movement In
funds
104,164
489
104.653
59,483
59,483
Reconciliation of funds:
Fund balances at 1 August
2023
8.832,099
2,830 8,834,929
8,772,616
2.830 8,775,446
Fund balances at 31 July
2024
8,936,263
3,319 8,939,582
8.832,099
2,830 8,834,929
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing aGtivities.
The statemenl of financial activities also complies with the requirements for an Income and expenditure account
under the Companies Act 2006.
The comparatives have been reslated lo split out the actuarial gain and financing cost for the pension oul from
charitable activities and to remove the holiday pay accrual expense. The net effect of this reslatemenl is £18,118.

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
BALANCE SHEET
AS AT31 JULY2024
Restated
2023
2024
Notes
Fixed assets
Tangible assets
11
9.221.249
8,978,548
Current assets
Debtors
Inveslments
Cash al bank and in hand
13
14
219.786
1.050.000
791,871
69,427
700,000
1,593,054
2,061,657
2,362,481
Creditors: amounts falllng due within
one year
16
(1,347.318)
(1.193,696)
Net current assets
714,339
1,168,785
Total assets less current liabilities
9.935.588
10,147,333
Creditors: amounts falling due after
more than one year
17
{911,778}
(1.201,516)
Provislons for liabillties
{84,228>
<110,8881
Net assets
8.939,582
8,834,929
Income funds
Restricted funds
Unreslricled funds..
General unreslricted fvnds
Revaluation reseNe
Pension reseNe
21
3,319
2,830
6,439,680
2,580,811
(84,228}
6.327,047
2,615,940
(110,888)
8,936,263
8.832.099
8.939.582
8,834,929
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable lo companies subject
to the small companies regime.
The comparalives have been restated to remove holiday pay arKruals from Ihe balance sheet. The net effect of this
is £313,536
The financial statements were approved by the Governors on .
215f JM4L4AQy 2015
erek Wlson
Chair of Governors
Company Registratlon No. 389663
10-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
2024
2023
Notes
Cash flows from operating activtties
Cash generated from operations
27
339,310
525,301
Investing activitiès
Purchase of tangible fixed assels
Investments
Investment income received
{571,6351
{350,0001
70,880
1518,468)
1700,000)
33,270
Net cash used in investing activities
(850,755>
11,185,198)
Financing activities
Repaymenl of bank loans
(289,738)
{89,3281
Net cash used in financing activities
(289,738)
189,328)
Net de¢rease in ¢ash and cash equivalents
(801,183)
(749.225)
Cash and cash equivalents at beginning of year
1,593.054
2,342,279
Cash and cash equivalents at end of year
791,871
1,593,054
11

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2024
Accounting policies
Charity infomiation
St Mary's School, Gerrards Cross, Limited is a private company limited by guarantee incorporated in England
and Wales. The registered office is St. Mary's School, Gerrards Cross, Bucks, SL9 8JQ.
1.1 Accounting convention
The financial slalements have been Prepared in accordan￿ with the Charity's Memorandum of Associalion.
the Companies Act 2006 and "Accounting and Reporting by Charilies.. Statement of Recommended Practice
applicable to charities preparing their accounls in accordance wilh the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) leffeclive 1 January 2019)" The Charity is a Public
Benefit Entity as defined by FRS 102.
The financial stalemenls are prepared in sterling, which is Ihe functional currency of the Charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention, modified to indude the
revaluation of freehold properties and lo include investment properties and certain financial instruments al fair
value. The principal accounting policies adopted are sel out below.
1.2 Going concem
At the time of approving the financial slalements, the Governors have a reasonable expectation that the
Charity has adequate resources to continue in operational exislen¢e for the foreseeable future. Thus the
Governors continue lo adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Governors in furtherance of their charitable
objectives.
Restricted funds are subject to specific condilions by donors or grantors as to how they may be used. The
purposes and uses of the reslricled funds are set out in the notes lo the financial statements.
1.4 In¢ome
All incoming resources are inc5uded in the Slalement of Financial Activities (SOFA) when the charily is legally
entitled to the income, after any performance conditions have been met. The amount can be measured
reliably and it is probable that the income will be received.
Fees receivable, less any discounts given, for tuition and extracurricular activities are recognised and
accounted for in the period in which the service is provided. Fees paid in advance are treated as deferred
income and included in other creditors.
For donations to be recognised the charity will have been notified of the amounls and the settlement date in
wriling. If there are conditions attached to the donation which requires a level of performance before
entitlement can be obtained then income is deferred until those condilions are fully met or the fulfilment of
those conditions is wrthin the control of the charity and it is probable that they will be fulfilled.
Investment income is earned through holding assets for investment purposes and is included when the
amount can be measured reliably. Interest income is recognised using the effective interest method.
12

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Accounting policies
(Continued)
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal 01 constructive obligation to
make payments lo third parties, it is probable that the settlement will be required and the amount of the
obligation can be measured reliably. It is categorised under the following headings..
Expenditure on charitsble activities
These are costs incurred on the charitable activities, including support ¢osls and costs relating to the
governance of the charity apportioned to charitable activities.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Support costs allocation
Support costs are those that assist Ihe work of the charity but do not directly represenl charilable activities
and include office costs, governance Gosts, administrative payroll costs. They are incurred directly in support
of expenditure on the objects of the charity and indude project management carried out at the school.
1.6 Tangible fixed assets
Assets are capilalised as langible fixed assets using a threshold of £1,000 and judgemenl. They are carried at
cost or valuation, nel of depreciation and any provision for impairment. Cost includes costs directly
attributable to making the asset capable of operating as intended.
Depreciation is recognised so as to write off the cosl or valuation of assets less their residual values over Iheir
useful lives on the following bases..
Land and buildings
Plant and equipment
Fixtures and fillings
Website
2 % per annum
5/¢ per annum
15 % per annum
209A per annum
The gain or loss arising on the disposal of an asset is delemiined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Assets in the course of construction are included al Gost. Depreciation on these assels is not charged until
they are brought into use and reclassified lo freehold or leasehold land and buildings.
A review for impairment of a fixed asset is carried out if events or changes in circumstances Indicate that the
arrying value of any fixed asset may not be recoverable. Shortfalls be￿een the carrying value of fixed
assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in
the Statemenl of Financial Activities.
1.7 Cash and tash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
13

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Accounting policies
{Continued)
1.8 Financial instruments
Debtors and creditors with no stated interest rate and re￿1vable or payable within one year are recorded at
transaclion pri￿. Any losses arising from impairment are recognised in expenditure.
The School recognises the cost of salaries paid to teaching slaff in the August holiday penod following the
yeaT end, as staff are enlilled lo these payments as a result of service rendered durin9 the reporting period.
Loans and borrowings are initially recognised at the transaction price including transaclion costs.
Subsequently. they are measured at amortised cost using the effeclive intere51 rate melhod, less impaimienl.
If an arrangement constilutes a finance Iransaction it is measured ai presenl value.
Impairnient
Assets nol measured at fair value are rewewed for any indication that the assel may be impaired al each
balance sheet date. If such indication exists. the recoverable amount of the asset, or the asset's cash
generaling unil, is estimated and compared to the carrying amount. Where the carrying amount exceeds ils
recoverable amount, an impairment loss is recognised in profit or loss unless the asset is Carried al a
revalued amount where the impairment loss is a revaluation decrease.
8asic financial assets
Current asset investments are short lerm highly liquid investments and are held at fair value. These Include
cash on deposit and cash equivalents with a maturity of less than one year
1.9 Taxation
The charity is an exempl charity within the meaning of schedule 3 of the Charilies Act 2011 and is considered
to pass the tests sel out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of
a charitable Gompany for UK corporation tax purposes. No charge lo corporation tax arises on the results for
this or the previous financial year as all income arises from non-trading activities and is applied to the
charilable purposes of the School.
1.10 Retirement benefits
The pension costs charged in the financial stalements represent the contributions payable by the charity
during the year in accordan￿ with FRS 102
The School parti¢ipates in a mulli-employer pension scheme, The Governmenls, Teachers Pension Defined
Benefits Scheme, for its leaching staff. As a result it is not possible lo identify the assets and liabilities of the
scheme that are altribulable lo the school. The pension liabilily is the responsibility of the leachers, pension
scheme. Accordingly, under FRS 102 the scheme is accounted for as if il were a defined conlributions
scheme. The school is liable to contribute to the scheme at the rale prescribed by the actuary from time to
time.
The school previously participated in a career average revalued earnings (CARE) defined benefit scheme for
non-leaching staff. Under FRS 102, the net Pfesenl value of deficil contribulions payable, per the latest deficit
funding arrangement, has been recognised as a liability.
14-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Crltical accounting estimates and judgements
In the application of the Charily's accounting policies, the Govemors are required to make judgements.
estimates and assumptions about the carrying amount of assels and liabilities Ihal are not readily apparent
from other Sour￿$. The eslimales and associated assumptions are based on historical experience and other
factors thal are considered lo be relevanl. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
estimates are recognised in the period in which the estirnate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Critical judgements
Depreciation
Depreciation has been calculated based upon on the estimated useful economic lives of fixed assets.
Depreciation for Ihe year tolalled £328.934.
Provlslon for bad debts
The provision for bad debts has been calculated based on management's assessment of whether outstanding
debtors will be received. The provision totaled £50,000 at the year end.
Charitable activities
Charitable Charitable
Activities
Activities
Totsl
Totsl
2024
2023
School fees
Less discounts
Trip income
Other income
8,260,509 7.734,031
1836,491) (733,389)
7,307
24,137
143,208
107,588
7,574,533 7,132,367
Analysis by fund
Unrestricted funds
Restricted funds
7,569,533 7,132.367
5,000
7,574,533 7,132,367
Income from charitable aclivilies was £7,574,533 (2023.- £7,132,367) of which £7,569,533 was unrestricted
(2023.. £7,132.367} and £5,000 restricted (2023: £Nil).
15-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Charitsble a¢tivities
Direct costs:
Reststed
2023
2024
staff costs
Catering
Educational supplies
Staff support and development
4,233,048 3.919,521
373,930
392,038
132,927
131,407
17.251
22.465
4,757,156 4.465,431
Analysis by fund
Unrestricted funds
Restricted funds
4,752,645 4,465,431
4,511
4,757,156 4,465,431
Support costs:
Restated
2023
2024
Staff costs
Depreciation and impairment
Administralion
Gardening and travel costs
Overhead and IT costs
Financial and other expenses
Other non-capital expenditure
Repairs and mainlenan
FRS102 pension finance adjustment
Bad debt write off
1,319,210
328,934
390,837
84,948
361,367
83,391
33,634
134,540
3,180
25,950
921,522
286,735
374,859
113,144
481,678
69,445
67,781
251,776
65,615
2,765,991 2.632,555
Governance costs:
2024
2023
Auditors remuneration
Other
13,000
1.572
10,350
55
14,572
10,405
Totsl charitable expenditure
7,537,719 7,108,391
16-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Charitable actlvlties
(Continued)
Expenditure on charitable activities was £7,224,183 {2023.' £7,126,509) of which £7,219.672 was
unrestricted (2023.. £7,126.509) and £4,511 restricted (2023.. £Nil}.
The comparatives have been restated to split out Ihe actuarial gain and financing cost for the pension
out from charitable aclivities. The comparatives have also been restated to remove the holiday pay
accrual. The net effect of this restatement for this note is £20,357
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
70,880
33,270
The investmenl income was £70,88012023'. £33,270) of which £70.880 was unreslricted (2023. £33.270) and
£Nil restricted {2023.' £Nill
Net movement in funds
2024
2023
The nel movement in funds is stated after chargingllcrediling)..
Depreciation of owned tangible fixed assets
328,934
286.735
Governors
Mrs Clifford re￿Ived payment for her work as a supply teacher. This was at a market rate of remuneration.
No olher Governors (or any persons connected with them) reoived any remuneralion or benefits from the
Charity during the year {2023'. £Nil).
None of the Governors had any expenses reimbursed by the Charity during the year (2023.. £Nil).
The key management personnel of the charity comprise the Headtp.acher, Deputy Headteachers and Bursar
The total amoLsnt of employee benefits (including employei pension contributions) received by key
management personnel for their servi¢es to Ihe charity was £549,44312023.' £488,280).
17

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Employees
The average monthly number of employees during the year was=
2024
Number
2023
Number
Teaching - full time
Teaching- part time
Non leaching - full time
Non teaching- part time
41
23
22
40
36
Total
111
106
Employment costs
2024
2023
Wages and salaries
Social securily costs
Other pension costs
4,507,333
319,878
725,047
3.763,740
359,614
717,689
5,552,258
4,841.043
The number of employees whose annual remuneration was more than £60,000
is as follows..
2024
Number
2023
Number
£60,001-£70,000
£70,001-£80,000
£80,001-£90,000
£110,001-£120.000
Other
Restated
Unrestricted Unrestricted
funds
funds
2024
2023
Financing costs
5.775
3,995
5,775
3,995
The ¢omparatives have been reslated to split out the financing cost for the pension out from charitable
activities. The net effect of this restatement on this note is £3,995.
18-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
10 Taxation
The charity is exempt from lax on Income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo its Charilable objects.
11 Tangible fixed assets
Land and Assèts undet
bulldings construction
Plant and Flxtures and
equipment
fittings
Wobslte
Total
Cost or valuation
At 1 AugLJSt 2023
Additions
Disposals
Transfer in year
9,651,444
272.477
195,966
30,755
270,365
909,886
246,881
(5,870)
11,027,661
571,635
(5,870)
21,522
195.966
{195,966)
At 31 July 2024
10,119,887
30,755
270,365 1,150,897
21,522 11,593,426
Depreciation and
impairnient
At 1 August 2023
Deprecialion charged in the
year
Eliminated in respect of
disposals
1,491,077
24,715
533,321
2.049,113
167.182
13.518
143,930
4,304
328,934
{5,8701
(5,870)
At 31 July 2024
1,658,259
38,233
671,381
4,304 2,372,177
Carrying amount
At 31 July 2024
8,461,628
30,755
232.132
479,516
17,218 9,221.249
At 31 July 2023
8,160,367
195,966
245,650
376.565
8,978,548
Land and buildings with a carying amount of £5,975.000 were revalued al 17 April 2015 by Jones Lang
Lasalle Lld, independent valuers nol connected with the Charity on the basis of market value Subsequenl
additions are at cost.
At 31 July 2024, had the revalued assets been carried at historic cost less accumulated depreciation and
accumulated impairment losses. their Carrying amount would have been approximately £5,576,633 {2023
£5,712,956).
12 Financial instruments
2024
2023
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
1,050,000
700,000
19-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
13 Debtor5
2024
2023
Amounts falling due within one year:
Scholars accounts
Other debtors
107,401
112.385
74,039
(4,612)
219.786
69.427
14 Current asset investments
2024
2023
Unlisted investments
1,050,000
700,000
15 Loans and overdrafts
2024
2023
Bank loans
1.042,217
1,331,955
Payable within one year
Payablè after one year
130,439
911,778
130,439
1.201,516
The Bank loan, which includes rolled-up Interest, is repayable by fixed monthly instalments of £10,870 per
month until the final repayment date. 31 January 2036, when any balance remaining on the a¢¢ount becomes
repayable. Interest is accrued al the rate of 1.84 % above base rale.
16 Creditors: amounts falling due within one year
Restated
2023
2024
Notes
Bank loans
Deferred income
Trade creditors
Other creditors
A¢¢ruals
15
19
130,439
852,861
106,111
230,899
27,008
130,439
175,884
356,794
333,444
197.135
1,347,318
1,193.696
The comparatives have been restated to remove holiday pay accruals from the balance sheet. The net effect
of this is £313,536
-20-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
17 Creditors: amounts falling due after more than one year
2024
2023
Notes
Bank108ns
15
911.778
1,201,516
18 Provisions for liabilities
2024
2023
Notes
Retirement benefit obligations
20
84,228
110,888
84,228
110,888
19 Deferred income
2024
2023
Deferred income at 1 August
Released from previous years
Resources deferred in the period
175.884
(175,884>
852,861
485,341
1485,3411
175,884
Deferred income at 31 July
852,861
175,884
Deferred income represents fees received in advan￿.
20 Retirement benefit schemes
Defined contribution schemes
The majority of the staff participale in one of two pension schemes., the Teachers, Pension Scheme England
and Wales (TPS) for teaching and related staff,. and the Flexible Retirement Scheme for non-teaching slaff.
TeaGhers' Pension Scheme
The TPS is an unfunded multi-employer defined benefits pension scheme governed by the Teachers, Pension
Scheme Regulations 2014. Members contribute on a 'pay as you go" basis with contributions from members
and the employer being credited to Ihe Exchequer. Retirement and other pension benefits are paid by public
funds provided by Parliament
The employer contribution rale is set following scheme valuations undertaken by the Govemmenl Actuary's
Department. The latest actuarial valuation of the TPS related lo the period ended 31 March 2016, and that of
the LGPS related to the period ended 31 March 2019.
The Tea¢hers' Pensions Regulations 2010 require an annual account, the Teachers, Pension Budgeting and
Valuation Account, to be kept of re￿ip1S and expenditure {including the cost of pension increases). From 1
April 2001, Ihe Account has been credited with a real rate of return, which is equivalent to assuming that the
balan￿ in the Account is invested in notional investments that produce thal real rate of return.
Scheme changes
The key provisions of the refomied scheme Implemented from 1 April 2015 include.. a pension based on
career average earnings., an accrual rate of 1157th, and a Normal Pension Age equal to State Pension Age,
but with options to enable members to retire earlief or later than their Normal Pension Age, Importantly,
pension benefits built up before 1 April 2015 will be fully protected.
21

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
20 Retirement benefit schemos
(Continued)
Flexible Retirement Plan
The company participales in the scheme, a multi-employer scheme which provides benefils to some 37 non-
associated employers. The scheme is a defined benefit scheme in the UK
11 15 not possible for the company to obtain sufficient information to enable il to account for the scheme as a
defined benefit scheme. Therefore il accounts for the scheme as a defined contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on
30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial
Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit
occupational pension schemes in the UK.
The scheme is classified as a 'lasl-man standing arrangement,. Therefore the company Is potentially liable for
other participating employers, obligations if those employers are unable to meet their share of the scheme
deficit following wilhdrawal from the scheme. Participating employers are legally required to meel their share
of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried oul at 30 September 2022. This valuation showed assets
of £49.6m, liabilities of £57.1m and a deficil of £7.5m. To elifflinate this funding shortfall, the Truslee has
asked the participating employers to pay additional contributions to the scheme as follows
Deficit Contributions from 1 April 202410
31 March 2027..
£1,672,000 per annum (payable monthly and increasing by 3.0°A
each year on the 1 st April)
Note that the scheme's previous valuation was carried oul with an effective date of 30 September 2019. This
valuation showed assets of £79m, liabilities of £93.9m and a deficit of £14.9m. To eliminate this funding
shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as
follows..
Deficit Contributions from 1 April 202110
30 September 2027..
£1.530,000 per annuffl (payable monthly and increasing by 3.00/1
each
earonthe 1stA
The recovery plan contributions are allocated to each participating employer in line with their estimated share
of the scheme liabilities.
Where the scheme is in defi¢it and where the company has agreed to a deficil funding arrangement the
company recognises a liability for this obligation. The amount recognised is the nei present value of the deficit
reduction contributions payable under the agreement that relates lo the deficit. The present value is cal¢ulaled
using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a
finance cost.
-22-

ST MARY'S SCHOOL. GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
20 Retirement benefit schemes
Icontinued)
Defined benefit schomes
Key assumptions
2024
2023
Discount rate
The discount rales shown above are the equivalent single discount rates which. when used to discount the
future recovery plan contributions due, would give the same results as using a full AA corporate bond yield
curve to discount Ihe same recovery plan contributions.
PRESENT VALUE OF PROVISION
2024
2023
Present value of provision
84,228
110,888
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
2024
2023
Provision al start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
RemeastJrements- impact of any change in assumptions
Remeasurements - amendments to the contribution schedule
Provision at end of period
110,888
5,775
(29,701)
1,114
{3.848)
84,228
140,880
3,995
{27,755)
{6,232)
110,888
INCOME AND EXPENDITURE IMPACT
2024
2023
Interest expense
Remeasuremenls- impact of any change in assumptions
Remeasurements- impact of any change in assumptions
5,775
1,114
(3,4841
3,995
(6,232)
'includes defined contribution schemes and fLrture service contributions li.e. excluding any deficit reduction
payments} to defined benefit schemes which are treated as defined contribution Schemes.
The company must recognise a liability measured as the present value of the contributions payable that arise
from the deficit recovery a9reemenl and the resulting expense in the income and expenditure account i.e. the
unwinding of the discounl rate as a finance cost in the period in which it arises.
The following schedule details the deficit contributions agreed between the company and the scheme at each
year end period..
-23-

ST MARY'S SCHOOL. GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
20 Retirement benefit schemes
Icontinued)
DEFICIT CONTRIBUTIONS SCHEDULE
Year ending
31 July 2024
£s
32,820
31 July 2023
{£sl
28,587
31 July 2022
(£sl
Year 1
27,755
Year 2
33,805
29,445
28.587
Year 3
22,983
30,328
29.445
Year 4
31,238
30,328
Year 5
5.309
31,238
Year 6
5,309
Year 7
It is these Conlribulions that have been used to derive the company's balance sheet liability.
21 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as lo how they may be used.
Movement
in funds
Incomlng
Balance at
rKour¢es l August 2023
Movement in funds
Balance at
1 August 2022
Incomlng
rg$ource$
Resour￿$
Balance at
gxpendgd 31 July 2024
Maths pnze
Sports award
General
SEN Department
1,080
750
1,000
1.080
750
1,000
1,080
750
1,000
489
5,000
(4,511)
2,830
2,830
5,000
{4,511)
3,319
-24-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
22 Analysis of net assets between funds
Reslaled
Total
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted
funds
2023
Restri¢ted
funds
2023
2024
2023
Fund balances at 31
July 2024 are
represented by..
Tangible assets
Current assetsllliabililies}
Long term liabilities
Provisions and
pensions
9,221,249
711,020
(911.7781
9,221,249 8,978,548
714,339
1,165,955
{911,778) 11,201,516)
8,978,548
1,168,785
{1,201.516)
3,319
2,830
{84,228)
(84,228) (110.888)
(110,888)
8,936,263
3,319
8,939.582 8.832.099
2,830 8,834,929
The Comparatives have been reslaled to remove holiday pay a¢¢ruals from the balance sheet. The nel effect
of this is £313,536
23 Operating lease commitments
At Ihe reporting end date the Charity had outstanding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows..
Restated
2023
2024
Wfithin one year
Between two and five years
157,281
235,649
207,156
398,469
392,930
605,625
24 Capltal commitments
Amounts contracted for but not provided in the finanaal ststements..
2024
2023
Driveway, washroom project
328,312
There are no amounts included for capital commitments.
-25-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
25 Events after the reporting date
There were no post year end events to disclose
26 Related party trnnsactions
There were no disclosable related party Iransaclions during the year12023 - none).
27 Cash generated from operations
2024
2023
Surplus for the year
101,919
53,251
Adjustments for..
Investment in¢ome recognised in statement of financial activities
Deprecialion and irnpairment of langible fixed assets
Difference be￿een pension charge and cash conlribulions
170.880>
328.934
2.734
133,270)
286,735
6,232
Movements in working capital=
Ilncrease)Idecrease in debtors
IDecrease)lincrease in creditors
Increase in provisions
Increasel{decreasel in deferred income
(150.359)
(523,355)
(26,660)
676,977
416
551,386
(29,992)
(309,457)
Cash generated from operations
339.310
525,301
28 Analysis of changes in net debt
At 1 August 2023
Clsh flows At 31 July 2024
Cash at bank and in hand
1,593,054
(801,183)
791,871
Loans falling due within one year
Loans falling due after more than one year
(130,439)
11.201,516)
{130,439}
(911,7781
289,738
261.099
(511,445)
{250,346)

Correction to Annual General Meeting papers
Further to the publication and dispatch (sent by post on 13101125) of St. Mary's School
Annual Accounts to 31 St July 2024 to be considered at the AGM (the "Accounts"). it has
come to the attention of the School that the Accounts contain a typographical error. The
School wishes to notify of a correction to the Accounts.
The correction relates to a typographical error in the Governors, Report (page 2 of the
Accounts) where it states that:
"Net Income for the year amounted to £415.455 (£35,113 in 2022123)."
On page 2 of the Accounts, in the Governors, Report. it should instead state that:
"Net Income for the year amounted to £101,430 (£53,251 in 2022123)."
Correction to Annual General Meeting papers
Further to the publication and dispatch (sent by post on 13101125} of St. Mary's School
Annual Accounts to 31S1 July 2024 to be considered at the AGM (the Accounts"), it has
come to the attention of the School that the Accounts contain a typographical error. The
School wishes to notify of a correction to the Accounts.
The correction relates to a typographiGal error in the Governors, Report (page 2 of the
Accounts) where it states that..
"Net Income for the year amounted to £415,455 (£35,113 in 2022123)."
On page 2 of the Accounts, in the Governors, Report, it should instead state that:
"Net Income for the year amounted to £101,430 (£53,251 in 2022123)..
Correction to Annual General Meeting papers
Further to the publication and dispatch (sent by post on 13101125) of St. Mary's School
Annual Accounts to 31 St July 2024 to be considered at the AGM (the Accounts"), it has
come to the attention of the School that the Accounts contain a typographical error. The
School wishes to notify of a correction to the Accounts.
The correction relates to a typographical error in the Governors, Report (page 2 of the
Accounts) where it states that:
"Net Income for the year amounted to £415,455 (£35,113 in 2022123)."
On page 2 of the Accounts, in the Governors, Report, it should instead state that:
"Net Income for the year amounted to £101,430 (£53,251 in 2022123)."