St Albans Education Group
(limited by guarantee)
Report and financial statements
for the year ended
31 August 2024
Company number.. 321911
Registered charity number: 311065

St Albans Education Group
(limited by guarantee)
Governors, report
for the year ended 31 August 2024
The Governors of St Albans Education Graup (the Company") present their annual report and audited
accounts for the year ended 31 August 2024 and confirm that they comply with the requirements of the
Charities Act 201 I, the Trust Deed and the Charities SORP 2015. The Governors are also the charity
trustees and directors of the Company.
St Albans Education Group is a company limited by Guarantee and changed its name from St Albans High
School for Girls to St Albans Education Group on 26 September 2024.
The Company delivers its Aims and Objectives through the operation of two Schools - St Albans High
School for Girls (Senior and Prepl ("STAHS" or "The School") and Stormont School ("Stormont") The
Stormont operation was acquired by the Company on 2 Seprember 2024 (see note 22 to the accounts).
Accordingly, this report and the accounts refer solely to the STAHS operation for the year ended 31 August
2024 except where explicitly stated.
Our aim5
The Company's vision is to develop happy, resilient young people who will embrace opportunities and
lead lives of consequence.
The object of the Company, as laid down in the Company's Articles of Association, is to advance education
in accordance with the principles of the Church of England for pupils and young children of either or both
sexes.
Our objectives
The objectives are outlined in the Company's development plan and reflect the educational aims and the
ethos of the Company.
In setting the objectives and planning the activities of the Company, the Governors have given careful
consideration to the Charity Commission's general guidance on public benefit and in particular to its
supplementary public benefit guidance on advancing education and on fee charging.
Ccontinued)

St Albans Education Group
(limited by guarantee)
Governors, report
for the year ended 31 August 2024
Our objectives (continued)
The School's main objectivos for the year 2023-24 were as follows,,
to promote excellent outcomes for pupils by delivering a rich and challenging curriculum and a
progressive and ambitious co-curriculum which ensures engagement for all
to develop intellcctually resiliont and independent pupils who leave school with the tools to help
them live fulf 111 i ng. ha ppy and successful adult lives
to recruit and reta in highly able and motivated pupils. regardless of the ir background
to attract and retain outstanding staff and support thom through appropriate profpssional
development
to onsure that the School provides a safe, sustainable and i nspi rational environment i n which to
learn and work, including seamless integration of information services and technology
throughout the Group
to ensure that the School engages in meaningful and broad partnerships and provides substantial
public benefit for our local and regional communities
to onsuro that forward financial and estates planning is thorough and meets the needs of the
School
to ensure that our School brand reflects the ethos and valuos of the School and that our markoting
(including website, school films, print matorials and digital marketing) is current and impactful.
Intended impact
The principal beneficiaries of these aims and objectives are St Albans Education Group's pupils whose
education is provided by the Company and funded by paronts. guardians or from othor charitable sources.
Over 60% of the School's pupils are drawn from the local community. living within 5 milesof STAHS Senior
School. Families on lower incomes are supported through our means-tested bursary schemo. Particularly
talented pupils may receive other concessions such as roduction in fees, access to free music lessons
and accoss to free elite sports coaching through our wide-ranging Scholars, Programme. Through
partnership links established with a number of schools. the School also contributes to. and benefits from.
the sharing of good practice with other education professionals. Wherever possible, access to the School's
facilities is shared with local schools, community groups and other institutions.

St Albans Education Group
(limited by guarantee)
Governors, report
for the year ended 31 August 2024
Our ethos, strategies and policies
The Company is a charity which seeks lo benefit the public through the pursuit of its stated aims. The
fees are set by the Governors each year at a level which ensures the financial viability of the Company
and which is consistent with the aim of providing a first class education.
The School welcomes pupils from all backgrounds. Entrance assessments and interviews are held to
ensure that potential pupils will be able to cope with the pace of learni ng and benefit from the education
which the School provides.
STAFIS values each individual member of our community and is committed to ensuring that everyone has
equal access to opportunities and is supported to roach thcir porsonal, educational and professional
goals. All reasonable adjustmonts are mado 10 meet the needs of Staff or pupils who are, or who become,
disablod, The School's Executive Team has been working with diversity and incliision char'ities to produce,
consult with our c.ommunity upon and implement a School-wido Equality, Diversily and Inclusion IEDII
strategy. This Strategy sets out tho School's corTiiniiment to and objectives flir EOI and tho necessary
stops to onsure tliat EDI is at the heart of our instifution and that STAHS is a truly inclusive school arid
workplace. The School has fakcn account of the Equal ity, Diversity and Inclusion princi ples in the Charity
Governance Code refreshed in 2020.
The Governors, sfaff and volunteers are fully committed to safeguarding and promoting the welfare of
pupils and cxpoct this commitment to be shared by all mombcrs of the School community. Governors
receive regular updates on rcgulatory and statutory changes to Keeping Children Sale in Education
(KCSIE) from the School's Executive Team and via regular updates from the School's lawyers and the
Association of Governing Bodies of Independent Schools IAGBIS).
The house systom is the main framework for pastoral carc. Pupils are cared for within their houses by
their house tutor and houscmastcr/mistrcss, a responsibility which is shared in years 12 and 13 with the
Hoad of Sixth Form and sixth form tutors.
Parents are given information about thoir children's social and academic progress through regular
paronts, evenings, in addition to end of term and year reports. The School maintains rogular contact with
parents throughout the year through informal contacts. parent forums and events and the publication of
electronic newsletters and termly letters from the Head and Head of Prep.

St Albans Education Group
(limited by guarantee)
Governors. report
for the year ended 31 August 2024
Access policy, including bursary policy
The Governors are concerned that education at STAHS should not be restricted to those who can afford
the fees. Through its means-tested bursary scheme the School is now supporting 54 pupils12023. 63).
This support, which is available on a needs basis as determined by the Head in consultation with the
Bursar, following a policy determined by the Governors, reduced annual fee income by £1,042k (2023.
£1,144k). The amount available for means-tested bursaries was El.197k. For the coming year. this sum
stands at £960k, representing 3.7¥0 of gross fee income. Means-tested fee5 assistance can be awarded up
to l OOYO of the tuition fees at any time from year 7 (aged 11 +), and, in the year. 31 pupils received bursarie5
equivalent to 100% of tuition fees12023. 38).
The Governors see bursary awards as an important means of ensuring that pupils from families who
would not otherwise be able to afford the fees can access the education which the School offers.
Bursaries are available to pupils who meet the School's entry requirements and are mado on the basis
of both academic potential and parental means orto relieve hardshipwhere a pupil's education and future
prospects would otherwise be at risk. Such circumstances might occur, for example, in a case of
redundancy or death of a parent.
Other pollcles on as51stance
Financial plannlng policy
In order to assist parents with payment of fees, the School makes available a number of different
schemes, including an option to pay monthly through arrangements with an external finance institution,
School Fee Plan.
Family discounts policy
Discounts are available to families with more than two children in the School.
Non-fee asslstance pollcy
Assistance can be made available in respect of the cost of "extras" including. for example. lunches.
coaches and school trips as appropriate.
Scholarship policy
Scholarship awards are made to recognise high academic potential or ability in other activities such as
art, design and technology, music, sport and drama. Such scholarships are awarded with a fixed remission
of fees and are available on entry to the Senior School at year 7 and on progression or entry to year l O
and year12. Where further assistance is required. scholarship awards may be supplemented by a means
tested bursary. Scholarships are largely honorary, and generally include a fee remission ol l O¥0. except
in exceptional circumstancos where a particularly gifted pupil may be offered a higher level of fee
remission.

St Albans Education Group
(limited by guarantee)
Governors, report
for the year ended 31 August 2024
Investment Policy
The Governors, investment powers are governed by the Articles of Association which permit the funds of
the Company to be invested as may be thought fit, subject to such conditions and consents as may be
imposed or required by law.
The Governors may, from time to time. invest in such properties as they consider beneficial to the School's
strategic interests.
It is the Governors, pol icy to mitigate the risks associated with having surplus funds concentrated in one
institution by investing them in short to medium term cash deposits with a range of mainstream UK
financial institutions. This also serves the Governors, policy of maximising the return on such surpluses.
The Company has a Treasury Management Policy which is reviewed on a termly basis and the Finance
Commirtee receives regular treasury reports from the Bursary.

St Albans Education Group
(limited by guarantee)
Governors, report
for the year ended 31 August 2024
Strategic report
Review of activities and achievements
Pupil numbers
The principal activity continues to be the provision of a day school for 4 to 18 year-old pupils. During the
year STAHS had an average of 815 pupils in the Senior School and 334 pupils in the Prep School12022-
23. 823 and 332 pupils respectively).
Academic
In the academic year 2023-2gi, 310/0 of all A level grades were al A. 73% achieved A" A and 88% at A*_ B
with 7 students achieving straight A's. 52¥0 achioving all A, A grades, l 00% ol pupils entered for the
EPQ (Extended Projoct Qualification) oarned A'_ A grades. All Oxford, Cambridge. Medicino and Veiorinary
offL)rs woro mei and 87 % took up their first-chnice university offer. At GCSE, 40% of grades were ai 9,
86% were ar 9- 7, 95,/0 at 9- 6, and 99Vo al 9- 5 with 18 students achieving 9 or moro GCSES at Grade 9.
Over 54Yo of Year 11 pupils achievod all Grades 9 - 7. Although the academic outcomes are impressivo,
our mission goes boyond examination rcsults as vve prepare our students to live lives of consoqucncc
through our Teach to 25 Strategy.
Thc acadomic profile of the School remains very strong. STAI IS makp.s a significant contribution to the
national education community through the employment and training of several oarly carocr teachers and
initial teacher trainees, and the provision of examiners to the major examining bodies. The School
encouragcs toachers to share good practice and dovolop their own expcrtisc through an extensive
internal professional dovclopment programme and by forming cluster groups, joining profossional
worki ng parties and visiting local and national schools from both sectors to share ideas.
Co-currlculum
The School offers a wide range of enriching oducational trips and visits throughout the year for pupils of
all ages. including international exchanges and languago immersion opportunities. Educational
partnLJrships with institiitions i n Eijrope and beyond are a focus for development. reflecting thp Srhnol'%
international focus, Ouke of Edinburgh expoditions are well-attended at all levels, and academic
departments continuo to offer a range of opportunities to extend the curriculum boyond the classroom
with trips to universities, museums, galleries, performances and oxhibitions,
Community service
Many pupils choose to undertake community service within the local area. This includes taking posts at
children's and youth Community groups, senior citizens, residence5. day care centres. local primary
schools, nurseries, the Cathedral and Abbey Church of St Alban and Age Concern. ID addition to these
activities, the pupils and staff have organised several charitable fund-raising everits for the benefit of
organisations that support the local community.
Public benefit
The Governors have g iven s ign ificant consideration to the Charity Commission gui dance on public benefit,
including the guidance 'Public Benefit.. Running a Charity, IPB21.
Icontinued)

St Albans Education Group
(limited by guarantee)
Governors. report
lor the year ended 31 August 2024
Strategic report
Review of activities and achievements (continued)
Use of STAHS facilities
STAHS facilities are made available for use by the local community whenever possible. The School makes
its sports and other faci lities availablo to local schools, c.ommunity groups and charitics and to the vvider
community at favourable rates (including free-of-charge uso of facilities in some instanc.es).
STAHS events
The School hosts em inent visiting speakers and organ ises a wide range of enrichment activities for the
benefit of pupils. Tho School rcgularly invites pupils and staff from othor local schools io aitend these
events in order that they might benefit from the exlensivo pi'ogramme. Examples include..
An annudl Oxbridge Admissions Conference for pupils considoring Oxbridge applications. In
March 2024 10 local SLhools participated in tho ovent, with a total of 150 attor)dees.
An Aerospace careers evcnt, hold in September 2023, attended by l 00 students from local 13
local schools.
Tho Children's 8ook Festival in June 2024 welcomed around 1,000 visitors, including members
of the local community.
Teaching and learning partnerships
The School is involved in several teaching and learning partnerships supporting loLal and regional
schools, pupils and teachers, includi ng.,
Providing practice interviews for pupils at six state schools under the Advanced Maths Support
Programme to improvo their chances of an offer from Oxford or Cambridgc to study Maths or
Maths-related courses.
Orchestra Partnership and Vocal Workshop Days giving over 200 Year 3 . Year 6 pupils from 25
different schools the opportunity to perform in a symphony orchestra and sing in a choir.
School teachers running choirs and ensombles for children at four local primary schools. with
weekly rehearsals and pupils taking part in performances, Sixth Formers from the School are
also involved to support this work.
A Maestro Masterclass and Recital series open to local schools to attend.
Royal Institution mathematics masterclasses involving pupils from five local primary
schools with Sixth Form students from the School acting as student leaders.
Children from the local village nursery accessing the Prep school's woodlands to support their
development of understanding of the world around them and the environment.
Provision of two day-long teacher training workshops for 30 trainee teachers through our
partnership with the Alban Federation.
The Lumina Tutoring partnership through which Senior school teaching staff provide online,
subject-specific, one-to-one tutorial sessions for children and young people who are looked
after.
(continued)

St Albans Education Group
(limited by guarantee)
Governors, report
lor the year ended 31 August 2024
Strategic report
Review of activities and achievements (continued)
Pupil charitable activities
260 pupi15 undertook voluntary work, volunteering a total of 2.041 hours with a social value of
over £1 0,000 as part of the Duke of Edinburgh Award Scheme, Including working in charity
shops and libraries, supporting Brownie and Rainbow packs and sports coaching.
Just over E27,000 was raised and donated to 20 different charities through pupi I fundra ising
initiatives.
Several members of staff volunteer expertise to support local schools by acting as a Governor.
The School sUPPOrts this where appropriate, for example allowing time off school to fulfil
Govcrnor commitmonts.
Fundralslng
The Company raises funds principally from current parents and alumni. STAHS is also fortunate and
grateful to receive donations and occasional legacies from individuals, especially those who have been
member5 of the School community in the past and wish to show Iheir appreciation and support. The
Company does not engage in any large-scale fundraising activities such as mass mailings, telephone
fund-raising or door-to-door campaigns. No donations are sought from the general public and the
Company has not engaged in fundraising activities requiring disclosure under Sl 62A of the Charities Act
201 l . The charity received no complaints in the year regarding its fundraising practices.

St Albans Education Group
(limited by guarantee)
Governors, report
For the year ended 31 August 2024
Strategic report
Our finances
The Company's net income was £3,OO&k for the year (2023. E2.659kl. including investment gains on
property revaluations of £926k (2023. £nil),
The Company's net operating income, before investment gains. was £2,078k (2023. E2.659k).
The investment surplus, being net operating income excluding depreciation, was £3,106k12023. £3.674kl.
This was 13.60/0 of net tuition fee income (2023,, 17.5 % I which was i n excess of the target for the year. It is
intended the cash generated from the surplus will be used in future years Lo fund capital projects.
Notc) 8a to the financial statements sets out an analysis of the assets attributable to tho various funds.
These assots are suffirienl to meet the obligations ol the Company on a lund-by-fund basis. The
Company's tangible fixed assets are all held for continuing use by the Company. rhe Governors c.onsider
that thc market value on an existing use basis ol Company land and buildings is not less than the net
book valuc shovvn i n the notes to the financial statements.
The Governors, target is that the ideal level of free reservos to airt) for is 5 % ol fee income. rhe Govcrnors,
policy is to continuo bLJilding up tho Company s free reserves to the idpal lovol by means of annual
operating surpluses with minimal reliance on bank finance. The accumulated fund at tho year-ond was
E36,081 k which was sufficient to cover the fixed assets of E32,675k without recourse to bank borrowing.
During the year various i n itiatives from the Development Offico and the Parents, Association raiscd E34k
(2023.. £126kl.
As the Company is a charity, the parents of the pupils have the assurance that all of the income of the
Company will be applied for educational purposes. As an educational charity tho Company enjoys tax
exemption. Gains from this exemption are applied to help achieve the charitable aims,
Risk management
The Govornors are responsible for the oversight of the risks faced by the School. Detailed considerations
of risk are delegated to the senior leadership of the School. The major risks to which the School is exposed
are assessed in relation to thc likely damage to the financial and reputational wellbeing of the School
and/or its infrastructure, within the context of its long-term strategic objectives and the School's abil ity
to tolerat? the impact of said risk5. Senior leadership perform a monthly review of the Risk Register and
specialist external advice is takcn to inform Governors on key issues. Risk i s a standing agenda item for
all committees.
The main areas of risk are considered to bo.
external factors - sector, economic, politlC31
business interruption arising from critical i ncidcnts
staffing recruitment a nd retention
financial cost pressures, external and internal
children s welfare - safeguarding
regulatory compliance.
(continuedl

St Albans Education Group
(limited by guarantee)
Governors, report
For the year ended 31 August 2024
Strategic report
Risk management (continued)
Safeguarding and health and safety are always significant areas for risk management. and they are
standing agenda items at full Council meetings. Through the risk management processes established for
the School, the Governors are satisfied that the major risks identified have been adequately mitigated
where necessary. It is recognised that systems can only provide reasonable but not absolute assurance
that major risks have been adequately managed.
Principal rlsks and uncertainties
The Governors consider the principal risks to be Lhe ability of the Company to cope with the economic
impact of potential changes to education and economic policy including the imposition of VAT on school
fees vvhich affects the ability of parents to fund private education, tho loss ol busiiiess rates rel ief. or other
as yet undp.fined levies. the ability of the Company to rLJtain a market share in a highly competitive region.,
tho increasing risks around cyber-security.. and the increase to oporating costs caused by changes to the
pensiun obligations and tax status of the Company. As a result, working with tho School's Executive Team,
the Governors continue to monitor the education sector closely, both nationally and locally, in order to
react responsivcly to changes in market conditions. Likevvise. Governors moniror the controls and
processes adopted by the School to recruit staff and ensure that fhc highest standards are maintained in
all areas ol the School. The Governors ensure a multi-layered approach to cyber-socurity is followed to
minimise all conceivablc risks. Through the risk management procosses established across the School,
the Governors are satisfied that the major risks identified have been adequately mitigated, in so far as is
possible.
Directors. duties
Section 172 of the Companles Act
In summary, as required by Soction 172 of the Companies Act, the directors (Governors) must act in a
way thoy considor, in good faith. would be most likoly to promote the succes5 of thc company for the
benefit of its members as a whole and, in doing so, have rogard lamongst other matters) to,.
the likely consequences of any decision in the long term
the interests of the company s employccs
the need to foster the company s business relationships with suppliers. customers and others
the impact of the coinpany's operations on the community and environment
the desirability of the company maintaining a reputation for high standards of business conduct
and
the need to act fairly as between members of the company.

St Albans Education Group
(limited by guarantee)
Governors. report
For the year ended 31 August 2024
Strategic report
Overview of how the Governors performed their duties
Shareholders
Tho Company is limited by guarantoe and has no shareholders.
Employees
The School operates a framework for employee engagement. Meetings are held between local
management and employees providing employee voice. The ability for employees to express their views,
get involved in decision making and provide feedback is through consultation groups, committees and.
formally, through voluntary union recognition. Meetings are held at least once per term between the
Executive Team and the union representatives, with a Governor in atlendance on at least an annual
basis.
Stakeholders, puplls and parents
The School exists lo provide excellent standards of teaching with in a stimulating and challerigiiig
cnvironmont in ordcr that pupi Is can reach their full potential acadomically, in co-curricular activities
and personally. The Head provides rogular foodback lo the Governors ar termly Education Committee
meetings. The Governors regularly altend School events. havo a structured programme of Govornor
visit days and policy into practice reviews and are visible i n the School community to parents and
pupils. Parents receive continual progress updatos on pupi15' performance throughout tho ycar plus
regular communication from the I lead.
Suppliers
We value all our suppl iors, fostering long term, mutually bencf icial relationshi ps with those critical to
the Sc.hool's success. Suppliers are generally paid on 30 day terms. Koy procurement decisions are
presented to the Governors by thc Exccutivo Tcam prior to final decisions being made. The Governors
roviow the procurement policy regularly to ensure the School continues to receive tho best valuo lor
money.
Communlty and envlronment, culture and values
As a charity, the Company seeks to benefit the public through the pursuit of its aims. Safeguarding
underpins all operations and the Governors receive regular updates on regulatory and statutory
changes to safeguarding legislation. The Governors set the Bursary policy and receive rogular
information as to its implementation in order to maximise tho support ava ilable to families who could
otherwise not afford tho fees. Public benefit is at the heart of the School's activities, evidenced by wider
usage of the School's facilities, events in the community, partnership work and fundraising activities
undertaken by pupils and staff. STAHS has developed a sustainability plan, which is now being
implemented.

St Albans Education Group
(limited by guarantee)
Governors, report
For the year ended 31 August 2024
Strategic report
Equality, diversity and inclusion
The School encourages the development of an environment in which diver%ity 15 valued, as supported
by the School-wide Equality. Diversity and Inclusion strategy referred to u nder the 'Our ethos,
strategies and policies section of the Governors, report. An i mportant part of putti ng this into practice
is a commitme.nt to prohibit discrimination on any grounds including disability, gender or racial
background in 311 employmont mattors. The School aims to increase employment opportunities for
people who have a disability and to ensure that its recruitment and seloction processes are fully
accessible. All School staff. students, visitors and contraciors are expected to treat people from all
backgrounds with respect. If, however, an individual feels they havo been discriminated against or
harassed, they are encouraged to report the incidont. Line managers. as part of their managerial
responsibilities, must ensuro thero is no discrimi nation. Discrimination i n recru itment, selection or
etnpluyment is treated seriously and could provide grounds for disciplinary action.
Employees with disabilities
Rocruitment. we accommodate applicants during the interview and assessment process. at which point
workplace adjustmonts that thcy roquiro are discussed. Job advorts are accessible. The sc.hool is
prepared to make reasonable adjustments for candidates who are invitod to intervievv to enable them to
attend.
Employmont.. When an existing employee becomes disabled. we make reasonablo adjustments lo help
them return to work. This means ensuring disabled people can overcome ariy substantial disadvantages
they may have undertaking their jobs and progrossing in work. making physical changes to the
workplace. We support disablod omployee5 to apply for an Ac.coss to Work grant. which can help to fund
any necessary adjustments or support. Wc risk assess for the workplace and identify specific risks
associated with a disability.
Employee engagement
The School operates a framework for employee engagement which includes information and
consultation which complies with the requirements of the Information and Consultation of Employees
Regulation 2004. Regular meetings are held between local management and employees providing
employee voice. Employees are able to oxpress their views, get involved in decision making and provide
feedback through consultation groups. committees and, formally, through the JNCC. Effective internal
communication exists at all levels.. there is clarity of job expectations, career advancement and learning
opportunities.

St Albans Education Group
(Ilmited by guarantee)
Governors, report
For the year ended 31 August 2024
Strategic report
Energy and carbon report
Environmental Impact
STAHS seeks to reduce its environmental impact whilst working to deliver the full School curriculum.
In 2023 the School obtained Eco Schools accreditation for our work in this area.
To align with other reporting conventions in the School, energy reporting now roports consumption within
the academic year versus the previous methodology of reporting within a calendar year.
Total carbon dioxide emissions for academic year 2023-24 were 459.033 tonnes of which 43.62 % is related
to the consumption of purchased electricity, 56.11 ¥0 natural gas and the balance from usc of Ihe School
maintenance vehicle.
During summer 2022 & 2023 significant investment in the swimming pool was undertaken, both the
pumps and filtration system Icl 5 years old at the time of these projects) were replaced. The pool is a
significant consumer of energy on the Estate. The pool temperature was also further reduced fram 29c
to 28.5c. This investment and the adjustment to the controls continue to drive economies in our
consumption year on year.
Intensity ratlo
The average pupil roll for the year 2023/24 was 1,149 pupils equates to carbon dioxide production per
pupil per year of 399 kg.
The average pupil roll for the year 2022/23 was 1,155 pupils equating to carbon dioxide production per
pupil per year of 449kg,
(continued)

St Albans Education Group
(limited by guarantee)
Governors. report
For the year ended 31 August 2024
Strategic report
Energy and carbon report (continued)
Total energy Consumed (Academic Year 2023-24)
KILO watt hour
(Kwh) - A
967,097
1 ,258,084
466
C02 conversion rate
(Kg/KWh) -B•
0.20705
0.20440
2.66155
TOTAL
Total C02
Kgs (AXB)
200 237
257,152
1,240
458,630
Electricity
Gas
Fuels (LTR)
43.66
56.07
0.27
100.00
Average Per Pupil 1.149 -399 Co2 kgs
*Gov.Uk Greenhouse gas reporting: conversion factors 2024
Total energy Consumed (Academic Year 2022-23)
Kilo watt hour
(Kwh) - A
C02 conversion rate
(Kg/KWh) _B*
0.20496
0.20226
2.62600
TOTAL
Total C02
Kgs (AXB)
199,707
317,995
1,142
518,844
Electricity
Gas
Fuels (LTR)
974,372
1.572,212
435
38.49
61.29
0.22
100.00
Average Per Pupil 1155 - 449 Co2 Kgs
*Gov.Uk Greenhouse gas reporting.. conversion factors 2023
2025 Energy Contract5 Re-Procurement
In September 2025 the Company's existing energy contracts are due to expire. The Company is already
in conversations with its energy procurement specialists to explore the most economic contract, but it 15
anticipated that there will be meaningful increases in energy prices when the current contract expires
(let i n 20221.

St Albans Education Group
(limited by guarantee)
Governors. report
For the year ended 31 August 2024
Strategic report
Future plans
The School's vision is to develop happy, resilient young people who will embrace opportunities and lead
lives of consequence.
This vision is underpinned by the School's values.
At STAHS.
We value intellectual, social and moral development. Our pupils thrive on the high expectations
we have of thom, and our dedicated staff create an environment where kindness and gcnorosity
of spirit are as important a5 academic excellence
Wo valuo diversity. We aro proud of our diverse community whor? oach pupil is valued for who
they are and encouraged to share their unique p?rspective on the world
We value challenge and risk-taking. We nurture our pupils, sense of adventure and help them
dovelop emotional and montal agility.
Thc School's Strategic Plan 2023-2028 sets out key aims and is a framework for the educational. organisational
and capital dovolopmont of the School. The Plan has been developcd with input from representatives of tho
whole School community. All areas of the five-year stratcgy support the School's Teach to 25 philosophy, to
prepare young peoplc for lifc bcyond school, equipping them with the skills, independence and knowlodge
needed to navigate thei r path in the critical early years of adult life.
The School's Aims aro..
To ensurc that STAHS.,
l. Is an institution of cducational excellence.
2. Preparcs pupils for the futurc.
3. Provides excellent pastoral care.
4. Is a diverse and inclusive school and workplace.
5. Provides an inspiring and wolcoming learning environment.
6. Makes a positive impact in our community.
The Governors intend to continue to upgrade and improve the facilities of the School to ensure that pupils
are able to achieve their full potential academically and in all their other activities in the School. It is
intended that the School should generate sufficient financial surplus to facilitate an ongoing programme
of investment in facilities for the benef it of pupi15 and other young people.
The Governors have engaged with planning design consultants to facilitate the strategic review of the
School's Estate Plan. This will encompass a number of major projects which will be funded by cash
reserves and external finance over the next five to ten years.

St Albans Education Group
(limited by guaranteej
Governors. report
For the year ended 31 August 2024
Strategic report
Structure, governance and management
St Albans High School for Girls was founded by Trust Deed. The School was incorporated in 1936 under
the name St Albans High School for Girls" as a company limited by guarantee.
The Company changed its name in September 2024 to "5t Albans Education Group
There were no specific restrictions to the charity's operations imposed by the governing document in the
period.
The charity can lend and borrow funds on such terms that may seem expedient as directed by the Articles
of Association.
All Governors, as trustees, give of their time freely. Expenses totalling E2,672 were reimbursed in the year
(2023. £4,171).
There were related party transactions of Enil in the ycar (2023. £nil) see note 17.
In accordance with normal commercial practice, the Company has provided insuranco to protect
Governors and Officers from claims arising due to negligent acts, errars or omissions occurring whilst on
School business. This insurance provides cover ol up to E5 million for any one claim. The premium paid
for this insurance is i ncludod within administration costs and for 2024 stood at E2k12023'. £2k).
Organisatlonal management
The Council is the governing body of the School. A Governor may serve for up to 7 years (which may be
extended In certain limited circumstances).
The Council consists of a minimum of 12 Governors and a maximum of 18 Governors of whom, when the
Council is complete.
one is ex-off icio (The Dean of St Albans)
17 are elected Governors
The Council delegates some of its work to the following Committees., Finance, Estates, Education,
Safeguarding, Governance and Strategy. The Remuneration sub-committee reports to the Finance
Committee. All six Committees report to Council. The Safeguarding Committee meets annually. The
Finance Committee and Council meet four times a year. The remaining Committees usually meet once a
term.
(continued)

St Albans Education Group
(limited by guarantee)
Governors, report
For the year ended 31 August 2024
Strategic report
Structure, governance and management IcontinuL,dl
Governor recruitment and training
Governors are appointed so as to cover the many disciplines and experience required by the Governing
Body and to ensure diversity In all aspects including gender, disability and racial background. The
Governors have a commitment to prohibit discrimination on any grounds. Succession planning and
recruitment to fill vacancie5 are considered by the Governance Committee and car)didates are seen by
other Governors before their appointment is recommended to and approved by Council.
New Governors are inducted Into the workings of the School and tho rosponsibilitics of boing a trustee of
a registorod charity by thc allocation of a govornor Inentor and an induction session. New Governors are
required to attend the AGBIS new governor seminar or complete the AGBIS e-learning course as soon as
possible after appointment.
All Governors are encouraged to attend seminars run by AGBIS and other providers, such as firms of
accountants, throughout thc year and are committed to completing the STAI IS annual safeguarding and
child protection training.
Governors. responsibilities
Company and charity law requires the Governors, as trustees of the charity. to preparo financial
statcments lor each f i nancial ycar wh ich givc a true and lair view of the state of affa irs of the charity and
of its financial activities for that period. In preparing rhe5e financial statements, the Governors are
requ ired to..
select suitable accounting pol icies and apply them consistently
make judgements and estimates that are reasonablo and prudont
observe rhe methods and principles in the Charitios SORP 2015 IFRS 1021
state whether tho policios adopted arp in accordance vvith applicable accounting standards.
subjecl to any material departures disclosed and explaincd in thc financial statements
prepare the f i nancial statements on the going concern basis unless it is inappropriate to assume
that the charity will conti nue in business.
The Governors are responsible for keeping proper accounting records which 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 2011 and thc Companies Act 2006.
They are responsible for safeguarding the assets of the charity and, hence. for taking rcasonable steps
for the prevention and detection of f raud and other irregularities.
(continued)

St Albans Education Group
(limited by guarantee)
Governors. report
For the year ended 31 August 2024
Strategic report
Structure, governance and management Ccontinued)
Statement of disclosure to auditors
(a)
so far as the Governors are aware, there is no relevant audit information of which the charity s
auditors are unaware, and
(bl
they have taken all the steps that they ought to have taken as Governors in order to make
themselves aware of any relevant audit information and to establish that the charity s auditors are aware
of that information.
Audltor5
Messrs Moore Kingston Smith, Chartered Accountants, will offer themselves for re-appointment as
Auditors at the General Meoting in December 2024.
Approved by the Council on 19 December 2024.
Signed on its behalf by
Mrs A Arnold
Chair

St Albans Education Group
(limited by guarantee)
Governors, report
For the year ended 31 August 2024
Governors and charity trustees
The Directors of the company, who are also the Governors of St Albans Education Group and trustees of
the charity, and who served during the year and subsequent to the year-end were..
Mrs A J Arnold Bsc (Hons)
Mr D Ascott FCA MBA (appointed December 2023)
Mrs L Bernard BA (Hons)
Dr M Carradice Bsc (Hons) MA PhD (Cantabl ACA CTA ACT
Mr E H Charlesworth Bsc (Hons) MRICS (resigned February 20241
Mr N Enright MA Ioxon) MBA NPQH FRSA
Ms E A de Galleani BA (Hons) Iresigned December 2023)
Mr B Hobart Bsc (Hons) MA MRICS (appointed September 20231
Mrs H Hodgkiss BA (Honsl (appointed September 2024)
Mrs C Jewell BA114ons) PGCE Icantabl
The Very Revd J Kelly-moore BA LLB BD
Mrs S Kironde-strain PGDip
Mr S R Martin MA (Oxonl
1,4.6
Mr C Murray BA IHons)
5,6,7
Mrs M E Pontin MA (Oxonl (appointed September 2023. resigned March 2024) 5
Mr D Roe Bsc (Honsl MRICS (resigned December 2023)
Mr B S Tattar BA (Hons) ACA (appointed December 2023)
Mrs V Stockman-Black LLB (Hons) CIMA QTS (resigned March 2024)
1,2,4,6,7 Cchair)
1,4,5
1,2.6.8
2,4,7,8 (Vice Chair)
Finance Committee
Education Committee
Remuneration sub-commitlee
Safeguarding
Estates Committee
Governance Committee
strategy Committee
At the general meeting in December 2023.. Alison Arnold was ￿-elected as Chair of Council,. Carol Jewoll
was re-elected as Vice-chair of Council and for a second 3-year term,, Chris Murray was re-elected for a
second 3-year term., Edward Charlesworth, Sara Kironde-strain. Lara Bernard and Victoria Stockman-
Black were re-elected following their probationary year.
Ms E A de Galleani and Mr D Roe retired at the General Meeting in December 2023, Mr E H Charlesworth
resigned in February 2024 and Mrs M E Pontin and Mrs V Stockman-Black resigned in March 2024.
(continued)

St Albans Education Group
(limited by guarantee)
Governors, report
For the year ended 31 August 2024
Governors and charity trustees (continued)
Officers
The Head
Mrs A Waite BSC {Rutgers), MSC Ioxonl
The Bursar & Secretary
Mr P Daly FCG
Contact details
School Address & Registered Office
Townsend Avenue, St Albans
Hertfordshire ALI 3SJ
Advisers
Bankers
Barclays Bank PLC
and
Clydesdale Bank PLC
Aud itors
Messrs Moore Kingston Smith
6" Floor, Appold House
London EC2A 2AP
20

St Albans Education Group
(limited by guarantee)
Independent Auditor's report to the members of
St Albans Education Group
Opinion
We have audited the financial statements of St Albans Education Group I'the company.) for the year ended
31 August 2024 which comprise the Statement of Financial Activities. the Balance Sheet. the Cash Flow
Statement and notes to the financial statements, including signif icant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including FRS 102 'The Financial Reporting Standard Applicable in the UK and
Republic of Iroland. (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a truo and fair vicw of tho stato of the charitable company's affairs as at 31 August 2023 and
ol it5 incom ing resource5 and appl ication of resources, including its income and expenditure, for
the year thon endcd,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practico,, and
have been prepared in accordance with the requiremcnts of the Companies Act 2006.
Basis lor opinion
We conductod our aLJdit in accordance with International Standards on Auditing IUK) IISAS IUKI) and
applicable law. Our responsibilities under thosc standards aro fur'ther described in the Auditor's
Rosponsibilities for the audit of the financial statements section of our roport, We are i ndependent of the
charitable company in acc.ordanco with tho ethical requirements that are relevant to our audit ol thc
financial statements in the UK, Including the FRC'S Ethical Standard. and we have fulfilled our other
othical rosponsibilities in accordanco with these requirements. We believe that the oudit evidence we
have obtained is suff icient a nd a ppropriate to provide a basis for our opi nion.
Conclusions relating to going concern
In auditing the financia I statemonts, wc have concluded that the trustees, use of the going concern basis
of accounting in the preparatiori of the f inancial 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
ability to continue as a going 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 go ing concern are described
in the relevant sections of th is report.
Iconti nuedl
21

St Albans Education Group
(limited by guarantee)
Independent Auditor's report to the members of
St Albans Education Group
Other information
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information
contained within the annual report, Our opinion on the 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, considerwhether the other information
is materially inconsistent with the financial statements, or our knowledge obtained in the course of the
audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatemDnts, we are required to dotormine whether there is a material misstatement
in the financial statements themselves. If, basod on the work we have porformed, we conclude that there
is a matorial misstatomont of this Other information, wc are required to roport that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companles Act 2006
In our opinion, based on the work undortaken in the course of the audit.
the information given i n the strategic rcport and the trustees, annual report for the financial year
for which the financial statements are prepared is consistent with the financial statements., and
the strategic report and tho trustees, annual report havc been prepared in accordance with
applicable legal requirements.
Matters on which we are requlred to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the
course of the audit, we havc not identified material misstaiements in the stratcgic report or the trustees,
annual report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us
to report to you if, in our opinion..
adequate accounting rp.cords have not been kept. or returns adequate for our audit have not been
received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit,
(continued)
22

St Albans Education Group
(limited by guarantee)
Independent auditor's report to the members of
St Albans Education Group
Responsibilities of trustees
As explained more fully in the trustees, rosponsibilities statement. the trustees (who are also the directors
of the charitable company for the purposes of company lawl are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fa ir 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.
In prepari ng the f i nancial statemonts. the trustees are responsible for assessing the charitablo Lompany's
ability lo continue as a going concern. disc.losing, as applicable, mattcrs r-olated to going concern and
using the going concern basis of accounting unless tho trustees either intend to liquidate the charitable
company or to ccaso operations, or havo no realistic alrernative but to do so.
Auditor's responsibilities for the audit ol the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from matcrial misstatemp.nt. whether due to fraud or error, and to issue an auditor's roport that
includos our opinion. Reasonable assurance is a high level of assuranco but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always dptect a material misstatoment when it exists.
Misstatements can arise from fraud or orror and are considered material if. individually or in aggrcgate,
they could roasonably be expected to influence the economic decisions of usors taken on the basis of
these financial statements.
As part of an audit in accordance with ISAS IUK) we oxercise professional judgement and maintain
professional scepticism throughout tho audit. We also.
Identify and assess the risks of matorial misstatement of the fina ncial Statements, whether due
to fraud or crror. design and perform audit procedures responsive to thoso risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. 'fhe risk of not
detecting a material m isstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relovant to the audit in order to design audit
procedures that arc appropriate in the circumstances, but not for the purposes of expressing an
opinion on the effectiveness of the charitable company s internal control.
Evaluate the appropriateness of accounting policies used and tho reasonableness of accounting
estimates and related disclosures made by ihe trustees.
(continued)
23

St Albans Education Group
(limited by guarantee)
Independent auditor's report to the members of
St Albans Education Group
Auditor's responsibilities for the audit of the financial statements (continued)
Conclude on the appropriateness of the trustees, use of Ihe going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty oxists related to events
or conditions that may cast significant doubt on the charitable company's ability to continue as a
going concern. Ifwe conclude that a material uricertainty exists, we are required to draw attention
in our auditor s roport to the related disclosures in the f i nancial statements or, if such disclosurcs
are inadequate, to modify our opinion. Our conclusions are basod on tho audit evidence obtained
up to the date of our auditor's report. Howovor, future events or conditions may cause the
charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and contoiit of the financi al statements. inc.l uding the
disclosures, and whothor tho financial statements represent the underlying transaction5 and
events In a manner that achieves fair presentation.
We communicate with those charged with governance reoarding, among other matters, the planned scope
and timing of tho dudit and significant audit findings, including any significant deficioncic5 in internal
control that we identify during our audit.
Explanation as to what extent the audit was considered capable of detecting irregularities,
including Iraud
Irregularities. including fraud, arc instanccs ol non-cumpliance with laws and regulations. We design
procedures in line with our responsibilities, outlinod above, to detect material misstatemonts in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
i rregularilies. including fraud is dota i led bolow.
The objectives of our audit in r-e%pect of fraud. are, to identify and assess the risks of material
misstatcrr)ent of the financial statements due to fraud,, to obtain sufficient appropriato audit evidence
regarding the assessed risks of material misstatement due to fraud, through designing and implementing
appropriate responses to those assessed risks., and to respond appropriately to instances of fraud or
suspected fraud identif led during the audit. However, the primary respons ibil ity for thc prevention and
detection of fraud rests with both management and those charged with governance of the charitable
company.
Our approach was as follows.
We obtained an understanding of the legal and regulatory requirements applicable to the
charitable company and considered that the most significant are the Companies Act 2006, the
Charities Act 2011, the Charity SORP. and UK financial reporting Standards as issued by the
Financial Reporting Council
We obtair)ed an understanding of how the charitable company complies with these requirements
by discussions with management and those charged with governance.
(continued)
24

St Albans Education Group
(limited by guarantee)
Independent auditor's report to the members of
St Albans Education Group
Explanation as to what extent the audit was considered capable of detecting irregularities,
including f raud (continued)
We assessed the risk of material misstatement of the f inancial statements. including the risk ol
material misslalement due to fraud and how it might occur, by holding discussions with
management and those charged with governance.
We inquired ol management and those charged with governance as to any known insiances of
non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify
instances of non-compliance with laws and regulations. This included making enquiries of
management and those chargod with governance and obtaining additional corroborative evidence
as required.
There are inherent limitations in the audit procedures described above. We are less likely to bocome
aware of instances of non-compliance with laws and regulations that are not closoly related lo events
and tran5aclions reflected in the financial statements. Also. the risk ol not detecting a material
misstatemont duo lo fraud is higher than the risk of not detecting one resulting from error. as fraud may
involve deliberate concealment by, for example, forgery or intentional misrepresentations. or through
collusion.
Use of our report
This report is made solely to the charitable company's mombers, a5 a body, in accordanco with Chapter 3
of Part 16 of the Companies Act 2006. Our audit work has been undcrtakon so that we might state to the
company s members those matters we are required to state to them in an auditor's report and for no
other purposc. To thc fullest extent permitted by law, we do not accept or assume responsibility to any
party other than the charitable company and charitable company's members as a body. for our audit work,
for this report, or for the opinions we havo formed,
NO0￿ kI￿￿j5h1￿ gK4tL L
Shivani Kothari (Senior Statutory Auditor)
Date 22 January 2025
for and on behalf of
Moore Kingston Smith LLP
Statutory Auditor
6 Floor
9 Appold Street
London
EC2A 2AP
25

St Albans Education Group
(Ilmited by guarantee)
Statement of financial activities
(including income and expenditure account)
for the year ended 31 August 2024
Note 21
Restricted
Funds
Unrestricted
Funds
2024 Total
2023 Total
Notes
Income
£'ooo
£'ooo
£'ooo
E'ooo
Donations and grants
Income fmm charitabLe
activities
Tuition fees receivable
Non-tuition fees income
Investment income
13
14
22,908
2,840
24
22,908
2.840
20.993
2,904
15
Total Income
Expenditure
Expenditure on charitable
activities
Teaching costs
Welfare costs
Premises costs
Administration of the Group
Governance costs
Coach hire
Interest paid
(14,435)
(2,148)
(2,923)
(3,552)
12501
17021
95
114.435)
12,1481
12,9231
13,5521
(250)
(702)
(12,376)
(1,914)
(3,0351
13,2141
(491
(6471
Total expenditure
18
4105
Net income and net movement
in funds for the year before
investment gains / (losses)
2,078
2,078
2,659
Investment gains / (losses)
926
Net income and net movement
in funds for the year
3,004
3,004
2,659
Reconciliation of funds
Total funds bmught forward
None of the company's activities were acquired or discontinued during the above two financial periods.
The company has no other recognised gains or losses in the year.
The notes on pages 30 to 47 form part of these financial statement5
26

St Albans Education Group
(limited by guarantee)
Balance sheet
as at 31 August 2024
(as restated)
2023
Notes
2024
£'ooo
£'ooo
£'DOO
£'ooo
Fixed assets
Tangible fixed asset5
Investments
28,788
29,723
32,675
29,723
Current assets
Stock
Debtors
Investmonts
Cash at bank and in hand
24
471
6.379
24
467
6.085
15564
12,668
Creditors: amounts falling due
wlthln one year
7a
Net current assets
49
Total assets less current
40,167
36.197
Creditors.. amounts falling due
after more than one year
7b
Total net assets
Funds of the charlty
Restrlcted fund
Unrestricted fund
Designated fund
Accumulated fund
8b
91
91
8b
109
104
Total charity funds
Approved by the Governors on 19 December 2024
A Arnold
Chair
D Ascott
Chair of Finance
Company Number, 321911
The notes on pages 30 to 47 form part of these financial statements
27

St Albans Education Group
(limlted by guarantee)
Cash flow statement
for the year ended 31 August 2024
Cas restated)
2023
Note
2024
E'ooo
£'ooo
Cash generated by operating activities
Cash flows from Investing activities
Interest income
Investment income
Finance costs
Cash reclassified as current investments
Payments to acquire tangible assets
177
424
1951
(294)
151
212
1108)
(6,085)
Cash (absorbed) by Investlng activities
Cash flow5 from financlng actlvltle5
Fees in advance - received
Fees in advance utilised against fees
Repayment of borrowing
4897
12,3351
38
3,264
(2,709)
Cash generated by linancing actlvltles
(Decrease) / Increase in cash and cash
eguivalents in the yea r
Cash and cash equivalents at the beginning of
the year
Cash and cash equivalents at the end of the
year
2598
(3,272)
The notes on pages 30 to 47 form part of these financial statements
28

St Albans Education Group
(limited by guarantee)
Cash flow statement
for the year ended 31 August 2024
Notes to the cash flow statement
A. Reconciliation of net movement in funds to net cash flow from operatlng activities
las restated)
2023
2024
£'ooo
£'ooo
Net movement in funds
Non-operating cash flows eliminated..
Financing costs
Depreciation
Interest income
Investment income
Loss on disposal of fixed assets
Fixed asset adjustment
Gain on investment revaluations
(Increase) in stock
(Increase) in debtors
Increase / (decrease) in creditors
Net cash generated by operating activities
3,004
2,659
95
1,028
(177)
(424)
47
50
19261
108
1,015
(2121
112)
(72)
(4)
The nates on pages 30 tD 47 form part of these financial statements
29

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities. Statement of Recommended Practice applicable to charities prepari ng their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 1021 (effective l January 20151 (charities SORP (FRS 10211, the Financial Reporting
Standard applicable ir) the and Republic of Ireland (FRS 1021 and the Companies Act 2006.
The accounts are prepared in sterling, which is the functional currency of the Company Monetary
amounts in these accounts are rounded to the nearest El,000.
The Company meet% the dpfinition of a public benefit ontity under FRS 102. A5set5 and liabilities
are initially recognised under the histor'ical Lost convention as modified by the revaluation of
invostmcnts in accordanco with the Companies Act 2006 and applicablo accounting standards in
the United Kingdom.
b)
Going concern
Theso firiancial statomonts havo been prepared on the basis the Company is a going coiicern. The
Company recorded a net surplus of income over expendituro and net cash inflows in thc ycar
ende.d 31 August 2024 and has net assets at thai year end of £36.3m. The Governors are of the
opinion that the Company has adequate resources to continue to operate lor the forosoeable
future, being not less than one year from the approval of these financial statemer)ts. For that
reason. the Govornors believe it is appropriate to proparc the financial statements on a going
concern basis.
Income and expcnditure and cash flows for the current trading year are reforecast each month.
A budget or a forecast lincome and expenditure and cash flow) is also maintained for the following
year as well as longer term high levol financial plans. Scenario plann ing and sensitivity analyses
around potential future and ongoing events is a koy part ol this process. Tho Company has taken
into account the impact of a roccssion, inflationary increases, increases in interest ratos and the
political landscape. including the impact of the imposition of VAT on school fees and the removal
of charitable rates relief. i n its fi nancial forecasts.
Crltlcal estlmates and Judgements
In the application of the accounting policies. Governors are required to make judgements,
esti mates. 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 estimates and underlying assumptions are revievved on an ongoing basis. Revisions to
accounting estimaies are recognised in the period in which the estimate is revised if the revision
affects only that period, or in the period ol the revision and f uture period if the revision affects
current and future periods.
(conti nued)
30

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies (continued)
Critical estimates and judgements (continued)
The present value of the defined benefit Teachers, Pension Scheme and its current liability
depends on a number of factors that are determined on an actuarial basis using a variety of
assumptions and estimates.
Any changes in these assumptions and estimates, which are disclosed in note 12. will impact Lhe
carrying amount of the pension liability and future contributions to the scheme.
CriticaL judgments
The annual depreciation charge for fixed assets is sensitive to changes In the estimated useful
economic lives and residual values of the assets. The useful economic lives and residual values
aro re-assessed annually. They are amended when necessary to reflect current estimates.
d)
Income
Income is recognised when the charity has enritlement to the funds. any performance conditions
attached to the itemls) of income havc been met, it is probable that the income will be received
and the amount can be measured reliably.
For legacies, entitlement is taken when a distribution is received from the estate.
Fees receivable and charges for services and use of premises are accounted for in the period in
which the service is provided. Fees receivable are stated after deducting allowances,
scholarships. bursaries and other remissions allowed by the school of El.728k (2023.. £1,782k).
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the
bank.
i)
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the
charity. Restricted funds are donations which the donor has specified are to be solely used for
particular areas of the charity s work or for specif ic projects being undertaken by the charity.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a
third party. it is probable that settlement will be required and the amount of the obligation can be
measured reliably
h)
Operating leases
The charity classifies the lease of photocopying and certain IT equipment as operating leases. Rental
charges are charged on a straight line basis over the term of the lease.
(continuedj
31

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Accounting policies (continued)
Tangible fixed assets
Individual fixed assets costing £5D.ODD or more are capitalised at cost and are depreciated over
their estimated useful economic lives on a straight line basis as follows.
Buildings and development projects including associated project costs - stra ighi Li ne method
over their estimated usef ul life
Furniture and equipment_ l 0_20% straight line method
Assets are only depreciated once they are ready for use
Expenditure on IT i nfrastructure and replacement furniture and equipment is written off in f ull in
the period In which It is Incurred.
i)
Investments
Fixed Asset Investments
Investment properties are valued as individual invostments at their market values as at the balance
sheet date. Investment rental income is recognised in the period to which it relates. Purchases and sales
of investment properties are recognisod on cxchange of contracts,
Unrealised gains and lossos arising on the revaluation of investment properties are credited or charged
to the Statement of Financial Activities.
Current Asset Investments
Investments comprising bank deposits with notice terms over 90 days are shown at their statement value
as at the balanco sheet date. Investment interest receivable is recognised in tho period to which it relates.
k)
Stocks
Stocks are valued at the lower of cost and net realisable value.
i)
Debtors
Trade and other dcbtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid after taking account of any trade
discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting
from a past event that will probably result in the transfer of funds to a third party and tho amount
due to settle the obligation can be measured or estimated reliably. Creditors and provisions are
normally recognised at their settlement amount after allowing for any trade discounts due.
Icontinued)
32

St Albans Education Group
(limited by guarantee)
Note5 to the financial statements
tor the year ended 31 August 2024
Accounting policies (continued)
Financial instruments
The company has elected to apply the provisions of Section I I 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company
becomes party to the contractual provisions of the instrument. Fina ncial assets and l labilities are
offset, with the net amounts presented in the financial statements. when there is a legally
enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
With the exception of accruals, prepayments and deferred income all other debtor and creditor
balances are considered to be basic financial instruments under FRS 102.
p)
Penslon schemes
The Company contributes to the Teachers, Pension Scheme at rates set by the Scheme Actuary
and as advised by the Scheme Administrator. The scheme is a multi-employer pension scheme
and it is not possible to identify the assets and liabilities of the scheme attributable to the
Company. In accordance with FRS17 therefore, the scheme is accounted for as a defined
contribution scheme. The Company also contributes to other schemes for non-teaching staff and
new teaching staff from l January 2023. The pension schemes are externally funded. Payments
made to the schemes are charged to the income and expenditure account as incurred.
33

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Tangible fixed assets
Land
Building5
Furniture &
equipment
E'OOO
Total
£'ooo
E'OOO
£'ooo
Cost
As at 1 September 2023
Additions
Transfer to investments
Adjustments
Disposals
As at 31 August 2024
5,461
784
(8901
36,357
2,060
(2.122)
(50)
353
307
42,171
3.151
(3,012)
150J
104
Depreclatlon
As at I September 2023
Charged in year
Transfer to investments
Disposals
As at 31 August 2024
12,096
1,011
(51)
352
17
12,448
1,028
(51)
57
Net book value
At 31 August 2024
'L8£
At 31 August 2023
Additions to Land and to Buildings comprise £2,835 relating to a property subsequently
transferred to investments and £9k in fees relating to a property purchase completed
subsequont to the year-end,
£3.012k was transferred to fixed asset investments in the year, in relation to two properties.
Clydesdale Bank PLC has a legal charge over the freehold land and buildings at
Wheathampstead House, Codicote Road, Wheathampstead AL4 8DJ.
Clydesdale Bank PLC has a legal charge over the freehold land and buildings at The Lodge
(formerly 1-4 Lodge Cottages), Codicote Road, Wheathampstead AL4 8DS.
34

St Albans Education Group
(Ilmited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Fixed Asset Investments
Properties
£'ooo
Total
£'ooo
Valuation
As at 1 September 2023
Transfer from tangible fixed assets
Revaluations
As at 31 August 2024
2,961
926
2,961
926
The properties have been transferred from fixed assets at thei r original cost less any
accumulated depreciation and have been valued at the balance sheet date, with any
revaluations cred ited or charged to the Statement of Financial Activities.
One property was valued by Savills PLC Chartered Surveyors. regulated by RICS.
One property was valued internally. using closely comparable market data.
Stocks
2024
f'ooo
2023
E'ooo
Consumables
Debtors
2024
£'ooo
2023
£'ooo
Fees in arrears and recoverable costs
Other dobtors
Prepayments
142
107
222
84
102
Current Asset Investments
(as restated)
2023
£'ooo
2024
£'ooo
Bank deposits
These comprise bank deposit accounts with notice terms in excess of 90 days.
35

St Albans Education Group
(limited by guarantee)
Notes to the linancial statements
for the year ended 31 August 2024
7a
Creditors: amounts falling due within one year
2024
£'ooo
2023
Bank loans and overdrafts
Deferred income
Trade creditors
Other creditors
Taxation and social security costs
Accruals
395
4,856
670
1.639
287
225
381
3,294
424
1.516
272
7b
Creditors: amounts falling due after more than one year
2024
2023
£'ooo
Bank loans
Deferred income
1.967
2,362
Analysis of loans
Bank loans
Included in current liabilities
2,362
395
2,'1143
Loan maturity analysis
Within one year
In more than one year but less than two
years
In more than two years but not more than
five
Over five years
395
381
409
395
1,323
1,313
654
The bank loan is to part-finance the catering and sixth form development Irepayable by monthly
instalments over l O years from February 2020 with a fixed Interest rate of 3,6710
The loan is secured by way of a charge over freehold land and buildings.
(continued)
36

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
7b
Creditors: amounts falling due after more than one year (continued)
Analysis of deferred income
2024
£'ooo
2023
£'ooo
Due within one year
Due after more than one year
4,856
3.294
Deferred income movement
Brought forward
Released in year
Dcferred in year
Carried forward
3.852
(3,335)
3,355
(2,7081
Deferred Incomc comprises fees paid in advance.
Allocatlon of the charlty's net assets
The net assets are held for various funds as follows'.-
Creditor5
due after
more than
one year
Net
current
assets
Flxed
assets
Total
2024
£'ooo
Total
2023
£'ooo
£'ooo
E'ooo
£'ooo
Restricted
fund
Designared
fund
Accumulated
fund
91
91
91
109
104
104
37

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Funds analysis
Investment
Opening Income Expenditure gain/(loss)
£'ooo
£'ooo
£'ooo
£'ooo
Closing
£'ooo
2024
Accumulated unrestricted fund
33,082
26.133
124.060)
926
36,081
Designated fund:
Preparatory School
Sixth form
Musical instruments
Concerts
School play
The Duke of Edinburgh Award Scheme
Total designated fund
Total unrestrlcted fund
52
19
12
15
52
19
13
13
(3)
(18)
(91
15
16
104
50
Restrlcted fund
Bursary fund
Annual fund
Total restricted lund
Total funds
64
64
Investment
gain/ioss
£'OOD
Opening Income Expenditure
£'ooo
£'ooo
£'ooo
Closlng
£'ooo
2023
Accumulated unrestricted fund
30,393
23,974
(21,285)
33,082
Deslgnated fund:
Preparatory School
Sixth form
Musical instruments
Concerts
School play
The Duke of Edinburgh Award Scheme
Total designated fund
Total unrestricted fund
52
39
12
14
10
52
19
12
15
(201
151
116)
134
28
104
Restricted fund
Bursary fund
Annual fund
Total restricted fund
Total funds
64
64
Icontinuedl
38

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
8b
Funds analysis (continued)
Designated tunds
The Prep School fund is for the purchase of equipment for the Prep School. The fund is
expected to be fully spent by August 2025.
The Sixth Form fund is to provide furnishings and small items for the Sixth Form. The fund is
expected to be fully spent by August 2025.
The Musical Instruments fund is the cover the upkeep of the Company's instrument stock. It is
funded by income f rom the hire of instruments. This is a recurring fund and is l ikely to continue
for the foreseeable future.
The Concerts account is to fund special concerts and is funded by ticket sales to said concerts.
This is a recurri ng f und and is likely to continue for the foreseeable future,
The Duke of Edinburgh Award Scheme fund is to cover the cost Df pupils achieving these
awards and replacing equipment required. Income is derived from parental contributions. This
is a recurring fund a nd is likely to continue for the foreseeable future.
The School Play fund is intended to support the STAHS Theatre Company and income is derived
from ticket sales to thei r performances. This is a recurring fund and is li kely to continue for the
foreseeable future.
Restrlcted funds
The Annual Fund is a scheme designed to raise money to fund bursaries, prizes and educational
lectures. The income comprises donations to the Company.
The Bursary Fund is intended to provide assistance to those parents whose income is such that
they would not otherwise be able to pay full fees.
Reconciliation of movements in Company funds
2024
2023
£'ooo
£'ooo
Opening funds
Ma in fund surplus for the f inancial year
Closing funds
33,277
30,618
39

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Ioa
Operating lease commitments
At the reporting end date, the Company had outstanding commitments for future minimum
lease payments under non-cancellable operating leases, which all fall due as follows'.-
2024
£'ooo
2023
£'ooo
Within one year
Between two and five years
Over five years
132
89
125
97
l Ob Capltal commitments
Capital commitments at the year-end amounted to £nil (2023. £nill.
Legal status of the Trust
The charity is a company limited by guarantee and has no share capital. In the event of the charity
being wound up. the liability in respect of the guarantee is limited to El per member of the charity.
12
Pension schemes
The Company participates in the Teachers, Pension Scheme ("the TPS") for its teaching staff.
The pension charge for the year includes contributions payable to the TPS of £1,657k (2023.
£1,555k) and at the year-end £204k (2023 - £177k) was accrued in respect of contributions to
this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The
Teachers, Pensions Regulations 201 O las amended) and The Teachers, Pension Scheme
Regulations 2014 (as amended) Members contribute on a "pay as you go" basis with
contributions 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 the Government Actuary s Department. The most recent actuarial valuation of
the TPS was prepared a5 at 31 March 2020 and the Valuation Report was published in October
2023.
Icontinued)
40

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
12
Pension schemes (continued)
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 l April 2015 to 31 March 2022. The actuaries have assumed that members are likely to
choose the option that provides them with the greater benefits, and in preparing the 2020
valuation has valued the 'greater value, 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%.
The Company a150 runs a scheme for its non-teaching staff and for new teaching staff from
January 2023. which is a defined contribution (DC) scheme. The cost for the year represents the
Company's contributions to the scheme of £545k (2023. £298k)
There were DC contributions outstanding of £3k at 31 August 2024 (2023.. £43k).
13
Income from grants and donations
2024
Total
£'ooo
2023
Total
£'ooo
Restrlcted
£'ooo
Unrestrlcted
£'ooo
Donations
105
14
Income from charltable activities
2024
£'ODO
2023
£'ooo
Tuition fees receivable consist of..
Gross tuition fees
22
Bursaries
Grants and allowances
(1 ,042l
11,1441
63
22.2Q8
20.-9
Non-tuition fees income consists of..
Coaches
Lunches
Other
806
619
41
791
608
41

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
15
Investment income
2024
£'ooo
2023
£'ooo
Rental income from investment properties
Bank interest from longer-term deposits
130
294
16
Net income is stated after charging
2024
E'OOO
2023
£'ooo
Auditors, remuneration
Non-audit remuneration paid to auditors
Governors. training
Depreciation
Hire of equipment
IT infrastructure
33
29
22
1,028
137
1.015
130
2024
£'ooo
2023
£'ooo
Staff costs
Wages and salaries
Social security
Pension contributior)s
Insurance
11,798
1,258
2,202
10,470
1,853
Staff costs include £24k in respect of redundancy / termination payments, relating to 1
member of staff12023 - £35k, relating to 3 members of staff) These costs are recognised as
exponditure when approved by Governors and are funded from net income.
Icontinuedl
42

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Net income is stated after charging Ccontinued)
Staff Costs (continued)
The number of employees whose emoluments exceeded £60,000 is stated below..
2024
2023
£60,001- £70,000
£70,001 £80,000
£80.001 E90 000
E90,001 £100,000
£120,001 £130,000
£130,001 £140,000
£180,001 EI 90,000
£200.001 £210.000
38.
24
The employer pension contributions for the above employees were E916k (2023. E513k).
The bandings indicated with "*" above include some staff that have exchangcd employer's
pension contributions for additional salary.
The average number of employees during tho year was as follows:_
2024
2023
2024
(number)
2023
(number)
equivalent)
equivalent)
Teaching and
technicians
156
147
180
172
Welfare
19
25
26
Premises
Administration
The key management personnel of the Company are listed on pages 19 and 20, comprising the
Governors, Head and Bursar.
The total remuneration (including pension contributions and employers. national insurance) of
the key management personnel of the Company for the year totalled £407k (2023. £365k).
43

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
Related party transactions
There were no related party transactions in the year (2023.. Enill.
The Head's spouse is an employee of the School and is paid in accordance with a standard
contract of employment which is overseen by the HR department and the Remuneration
Committee.
The Head is the TreasLJrer and a Director of The Heads, Conference l HMC"). The School
continues to be a member of HMC and any payments made to HMC are in the normal course of
the Head's membership,
18
Analysis of total expenditure
2024
Staff
Costs
Other Depreciation
Total
2024
£'ooo
£'ooo
£'ODO
£'ooo
Charitable
expenditure
Teaching costs
Welfare costs
Premises costs
Administration
of the
Company
Governance
costs
Coach hire
Interest paid
11,933
950
293
2,242
2.502
1,198
1,602
1,310
14,435
2,148
2.923
3,552
1,028
250
250
702
95
702
95
(continuedl
44

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
tor the year ended 31 August 2024
18
Analysis of total expenditure Ccontinued)
2023
Staff
Costs
Other Depreciation
Total
2023
£'ooo
£'ooo
E'OOO
£'ooo
Charitable
expenditure
Teaching costs
Welfare costs
Premises costs
Administration
of the
Company
Governance
costs
Coach hire
Interest paid
10,252
837
286
2,183
2,124
1,077
1,734
1,031
12,376
1.914
3.035
3,214
1,015
49
49
647
647
Governance costs include £209k12023.' £nil) in professional fees relating to the post year-end
merger with Stormont School.
19
Interest payable and similar charges
2024
£'ooo
2023
£'ooo
Bank loans and overdrafts
20
Corporation tax
The charity is exempt from tax 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 to its charitable objects.
45

St Albans Education Group
(limlted by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
21
Statement of financial activities - prior year fund split
2023
2023
Restricted Unrestricted
Funds
Funds
E'ooo
£'ODO
2024
Total
£'ooo
2023
Total
£'ooo
Income
Donatlons and grants
Income Irom charltable
activities
Tuition fees receivable
Non-tuition fees i ncome
Investment income
105
22.908
2.840
20,993
2,904
20.993
2,904
Total Income
Expenditure
Expendlture on charitable
actlvltles
Teaching costs
Welfare costs
Premises costs
Administration of the Group
Governance costs
Coach hire
Interest paid
Total expendlture
114,435)
(2,148)
12,923)
13,552)
(250)
(702)
112.376)
(1,914)
(3,035)
C3,214)
149)
1647)
108
(12,3761
(1,9141
(3,035)
13,214)
(49)
(647)
21
Net income and net
movement in funds for the
year before investment
gain5 1 losses
2,078
2,659
2,659
Investment gains / losses
Net income and net
movement in funds for the
year
46

St Albans Education Group
(limited by guarantee)
Notes to the financial statements
for the year ended 31 August 2024
22
Post balance sheet events (non-adjusting)
On 02 September 2024, St Albans High School for Girls completed a merger deed with Stormont
School (Company registration number 726540, Charity registration number 311079) whereby the
assets, liabilities and activities of Stormont School were transferred to St Albans H igh School for
Girls on that date.
Stormont School will continue to operate under the St Albans Education Group family of schools
but the Stormont charitable company will be wound up in due course.
On 26 September 2024, St Albans High School for Girls changed its name to St Albans Education
Group.
On 11 October 2024, the Group purchased a freehold property for £l,ODO,000.
47