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2022-07-31-accounts

THE SAINT JOHN’S SCHOOL FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

Registered Charity No: 312064

THE SAINT JOHN’S SCHOOL FOUNDATION

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

CONTENTS

Governors’ Report 1-15
Independent Auditor’s Report 16-18
Consolidated Statement of Financial Activities 19
Consolidated and Charity Balance Sheets 20
Consolidated Statement of Cash Flows 21
Notes to the Financial Statements 22-41

THE SAINT JOHN’S SCHOOL FOUNDATION GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Council and Trustees

The Council of The Saint John’s School Foundation consists of Governors who are also the Trustees of the Charity. The Governors who have served since 1 August 2021 are:

John Willis BA (Chair) Ed Russell BSc (Hons) MRICS (appointed 1 September 2022) John Gravett (OJ) (Vice-Chair) Ed Sanderson MA Tim Beckh MA Nikki Senior BSc CA Clare Davies BSc Bruce Shaw BSc MRICS Tracey Fantham MA NPQH Nick Teunon MA ACA Lesley Hume FBCS Scott Williams BA FCMI (elected 19 October 2021) Ruth Marshall BA GDL PgDL (retired 2 July 2022) Simon Williams MA Sandra Phillips BSc Angela Wright Alison Pullman MA FCIPD

Governor Membership of Committees during the year and as at date of signing:

Education
Tracey Fantham_(Chair)
Clare Davies
Lesley Hume
Sandra Phillips
Scott Williams
Simon Williams
Angela Wright
Nominations and Remuneration
John Willis(Chair)_
Clare Davies
Tracey Fantham
John Gravett
Bruce Shaw
Nick Teunon
Alison Pullman		 Estates
Bruce Shaw_(Chair)
Ruth Marshall(retired 2 July 2022)
Ed Sanderson
Scott Williams(elected 19 October 2021)
Ed Russell(appointed 1 September 2022)
Risk Management and Compliance
Clare Davies(Chair)_
Lesley Hume
Sandra Phillips
Alison Pullman
Angela Wright		 Finance
Nick Teunon_(Chair)
Tim Beckh
John Gravett
Nikki Senior
Safeguarding*
Angela Wright(Chair)_
Lesley Hume
Sandra Phillips
Scott Williams

The Head and other members of the School’s Senior Management Team attend as required to inform and update Committee members on the day-to-day management of the School.

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

REFERENCE AND ADMINISTRATIVE INFORMATION (continued)

Head Rowena Cole BSc MBA_(resigned 31 August 2022)_
Rebecca Evans BSc MSc_(Acting Head from 1 September 2022)_
Finance Director Sian Holwell BSc ACA
Operational Name The Saint John’s School Foundation
(also known as St John’s School, Leatherhead)
Principal Address Epsom Road
Leatherhead
Surrey, KT22 8SP
Solicitors TWM Solicitors LLP
Sweech House, Gravel Hill
Leatherhead
Surrey, KT22 7HF
Veale Wasbrough Vizards
Narrow Quay House
Narrow Quay
Bristol, BS1 4QA
Independent Auditor Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Bankers HSBC Bank plc
10 North Street
Leatherhead
Surrey, KT22 7AR
Fund Manager Investec Wealth & Investment Limited
2 Gresham Street
London, EC2V 7QN
Property Advisor Patrick Gardner & Company
1/3 Church Street
Leatherhead
Surrey, KT22 8DN
Insurance Broker Marsh Education Practice
Capital House
1-5 Perrymount Road
Haywards Heath, RH16 3SY

The School is a charity registered with the Charity Commission for England and Wales, number 312064.

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

The Governors present their annual report and audited financial statements for the year ended 31 July 2022 which comply with the requirements of the Charities Act 2011, the School’s Charter and By-Laws, the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ 2015 and legal requirements of The Charities (Accounts and Reports) Regulations 2008.

The Saint John’s School Foundation was established in London in 1851 for the education and maintenance of the sons of poor clergymen (Foundationers). It moved to Leatherhead in 1872 where it continues to operate and trades under the name of St John’s School, Leatherhead. While retaining its identity as a charity boarding school, The Saint John’s School Foundation gradually developed the characteristics of an independent school and began to attract fee-paying parents and an increasing number of day pupils. Girls were admitted into the Sixth Form in September 1989 and into the Fourth Form in September 2010. The School became fully co-educational in September 2012 and from September 2016 has accepted pupils from age 11 into the Lower Third (Year 7).

Henceforth in this report, The Saint John’s School Foundation is referred to as ‘the School’, ‘the Charity’, and ‘St John’s’.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is incorporated by Royal Charter and is governed by the Second Supplemental Charter and By-Laws which came into effect from 31 December 2014 (amended 10 November 2021) and which consolidated, with amendments and additions, the Original Charter of 1921 and Supplemental Charter of 1982.

Council

The governing body of the Charity is the Governing Council which consists of seventeen Governors currently and may not exceed twenty four. Governing Council meets at least three times each calendar year and delegates various functions to Committees which undertake the work of planning, implementing and reviewing the School’s policies and aims at a more detailed level prior to discussion and approval by the Governing Council. The aims and objects of the Committees are as follows:

A list of Governors who have served since 1 August 2021 and membership of Committees is provided on page 1.

Governing Council takes its governance responsibilities seriously and aims to have a governance framework that is fit for purpose, compliant and efficient. In June 2021 a governance review was undertaken and a Governors’ Working Group conducted a thorough self-assessment against the Charity Governance Code. Satisfied that the School’s governance framework is robust and fit for purpose but striving for best practice and continual improvement a number of actions and opportunities for improvement were identified and are being tracked to completion.

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Group Structure

A separate company, St John’s (Leatherhead) Enterprises Ltd, deals with trading business related to the non-core activities of the School. Profits generated by the company are donated to the School.

Management

The day-to-day running of the School is delegated to the Senior Leadership Team, comprising the Head, the Senior Deputy Head, the Deputy Head (Academic), the Deputy Head (Pastoral), the Finance Director, the Estates Director and the Operations and Compliance Director. The Senior Leadership Team is considered to represent the key management personnel of the School.

The remuneration of key management personnel is set by the Council. Pay for senior staff reflects the market for comparable jobs in comparable organisations, the level of knowledge, skills and experience required and the responsibilities and accountabilities associated with each role, the performance of the School, and the individual contribution of each staff member.

OBJECTIVES AND ACTIVITIES

Charitable Objects

The objects of the School are the advancement of the education of boys and girls by the provision of a day and boarding school or schools in or near Leatherhead in the County of Surrey or at such other place or places within the United Kingdom as the Council may direct and by ancillary or incidental educational activities and other associated activities for the benefit of the community.

The School’s statement of intent is:

St John’s School is a registered charity and a partnership of pupils (past and present), parents, staff and governors. Together, these groups form the St John’s Community. The School aims to promote academic excellence, intellectual curiosity and a love of learning. In addition, it provides a caring pastoral environment in which each and every pupil is nurtured. Co-curricular opportunity and an all-round education for all are central to the School’s philosophy. We hope to foster in our pupils an appreciation of culture, music, drama and art. We also wish to instil a sense of leadership, service and responsibility. A St John’s education prepares the pupils for progression into higher education and the world of work beyond. The School is mindful of its history and is fully committed to widening access from across the community.

Principal Activities

St John’s is a senior, independent boarding and day school which provides education to boys and girls from the ages of 11 to 18. The School welcomes pupils from all backgrounds and selection is made on the basis of an assessment at St John’s in the January of the child being in Year 6 for entry at Year 7 or Year 9, or an academic assessment and interview in the November of Year 11 for entry into the Sixth Form, as well as taking into account a child’s co-curricular strengths and a report from their current school. An unconditional place is then offered for Years 7 and 9, whereas for Year 12 a conditional place is offered subject to the child achieving the required grades at GCSE or equivalent. Special arrangements are made for pupils who attend schools that do not prepare for these examinations and they will be required to sit the School’s own assessments in the year prior to entry.

An individual’s economic status, gender, ethnicity, race, religion or disability do not form part of the School’s selection processes. During the year, the roll comprised 835 pupils (2021: 840), of whom 813 were day pupils (2021: 803) and 22 boarders (2021: 37). Analysis of the roll between boys and girls was 467 (2021: 480) and 368 (2021: 360) respectively. In relation to the School’s historic foundation, 11 pupils (2021: 15) were from families of clergy.

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

OBJECTIVES AND ACTIVITIES (continued)

Strategic Objectives

The aims of the School are to:

The St John’s curriculum offers breadth and rigour, while equipping pupils with the transferrable skills that enable them to be successful lifelong learners. The academic offering is reviewed on an ongoing basis to ensure it meets the needs of the pupils and the St John’s Learning Culture sets out the School’s expectations of pupils to have high hopes, high standards and high spirits in their approach to all areas of academic life.

The School recognises that aspiration is specific to every pupil and the intention is to support every child to fulfil their own potential. The collective ambition is to raise academic attainment and consistently produce A level examination results at 85% A* to B grade or above and GCSE results at 65% grades 9-7 or above, with at least 30% grade 9s. Results for 2021-22 are set out under Achievements and Performance on page 9.

The ‘elite for all’ approach to sport, the performing arts and the wider co-curricular programme, provides all children with access to the highest standards of input and development no matter their ability level. Through its scope and quality of content, the co-curricular programme underpins the aim to help pupils become happy, resilient, self-assured young people.

The School is committed to recruiting, retaining and developing exceptional staff to meet the needs of the pupils in all areas from subject teaching and pastoral care to their personal health and wellbeing.

PUBLIC BENEFIT

In making decisions about carrying out the School’s purposes for the public benefit, the Governors have had due regard to the Charity Commission’s guidance on public benefit. The Governors have not identified any potential detriment or harm arising from the education activities of the School which is committed to safeguarding and promoting the welfare of pupils and expects all staff and volunteers to share this commitment. The Governors actively review pupil safeguarding and welfare and monitor adherence to the robust policies and procedures in place at the School.

A Governors’ Public Benefit Working Group meets to review the School’s community partnership activity and other associated activities that contribute to the public benefit requirement (as defined by the Charities Act 2011).

Reporting to the Head, the School’s Director of Community Partnership is responsible for building relationships with local maintained-sector schools. He maintains an overview of all matters related to the School’s public benefit and community partnership.

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

PUBLIC BENEFIT (continued)

Bursaries and Widening Access

Funding for the provision of education for those who would not otherwise be able to afford the opportunity has been at the heart of the School’s purpose since its foundation in 1851. Though this assistance was initially provided only for the sons of poor clergy, over time this purpose has broadened to include children of both genders. These children, referred to as ‘Foundationers’, still attend the School and benefit from financial assistance in order that their families may afford the education that the School provides. During the year £234,714 (2021: £302,098) was provided to 11 pupils (2021: 15).

In addition to the provision of assistance for children of the clergy, the School sets aside a proportion of its income and raises money from donors to fund other means-tested bursaries. Scholarships, based on academic potential or potential in specific fields such as sport, music, and art, are also available and awarded through competitive assessment.

During the academic year 2021/22 the number of non-clergy pupils benefiting from bursarial support was 45 (2021: 82), with the value of funds provided being £598,246 (2021: £741,802). This includes fully funded awards to 8 pupils (2021: 18) of £200,518 (2021: £384,803). The total value of bursarial assistance towards fees, examination fees, educational trip costs and similar expenses was £832,960 (2021: £1,043,900 representing 4.1% (2021: 5.4%) of gross fees. Total fee remissions funded by the School were £1,479,849 (2021: £1,674,094), representing 7.2% (2021: 8.7%) of gross fees.

The Community Holiday

Each summer, St John’s School provides a seven-day residential holiday scheme for young people aged 10-18 with disabilities. In August 2021, the eighth annual holiday welcomed 21 holidaymakers to stay at the school to be supported by a team of 43 current and former pupils and a small management team.

Prior to the holiday, pupils and St John’s staff completed training and fundraising. Utilising the school’s facilities and boarding houses, the holiday allows parents and carers a week of much-needed respite safe in the knowledge that their children are being fully cared for, supported and having a fantastic time. The 2021 holiday was safely conducted in accordance with Covid-19 procedures, including regular lateral flow testing for staff members. The St John’s community offered support in many ways, from driving minibuses to joining in the muchloved fancy dress sing-a-longs.

The children enjoyed a fantastic range of activities, including games, arts and crafts, swimming, a fashion show, a magician, and a disco on the School site. Off-site visits included cycling in Bushy Park, visiting Hobbledown Farm in Epsom, a trip to the seaside at Littlehampton, and a day at Chessington World of Adventures.

Some feedback from the 2021 holiday:

“Cannot believe this week was Emily’s last St John’s Holiday! Having been there from the start in 2014, 7 years on and it just gets better every year. Emily will miss it terribly but what a fantastic opportunity you give our children and us!! You are all amazing, many of the senior team were buddies back in 2014! So many of you take annual leave from your jobs to be able to support our young people - that’s very humbling.” Hazel, parent, 22 August 2021

“Thank you so much, to everyone! You are all amazing!!! Paul has had the most unbelievable holidays with you. We can’t believe it is all over, but are so grateful for the privilege to be a part of this fantastic community. May you continue to bring limitless joy to so many more. Thanks so much from Paul and us all. We will always hold you close in our hearts.”

Nia, parent, 22 August, 2021

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

PUBLIC BENEFIT (continued)

“We are overwhelmed with the fantastic way you have not only structured the holiday but also gathered an extraordinary team of volunteers - it’s truly inspiring. Up until St John’s Holiday, Armand had never even experienced a play date because we never felt that it was fair to expect other parents to manage potential seizures or falls from balance - all that to say that to go away for an entire week is a huge undertaking. The experience and excitement of a holiday means a lot to the children but possibly even more to parents like ourselves who never get a break from our caring roles which are 24/7 and can seem relentless. We are very impressed that many of the volunteers not only give a week of their personal time but also do this repeatedly year in and year out. Learning the value of service to others as well as the value of good health has to be two of the greatest of life’s lessons. We thank you from the bottom of our hearts and hope our sincere thanks can be conveyed to your team.”

Karen & Raffi, parents, 25 August 2021

Ukrainian Refugee Summer Language School

From 25[th] July to 25[th] August 2022, w e were delighted to welcome the Epsom and Ewell Refugee Network (EERN) to St John’s School to host their first Summer Language School. Adult refugees were given important support with an intensive course of learning English whilst receiving childcare, which allowed them the opportunity to learn whilst their children were cared for.

The Summer Language School was made possible by a team of 130 volunteers including a substantial number of teachers who delivered a curriculum filled with imagination and fun. In total, volunteers provided over 2,800 hours of support from administration to building sandcastles. We were proud to have several St John’s staff participating and supporting the language school.

“Where would we find the premises at such short notice? Look no further than St John’s School, Leatherhead, who immediately said yes to everything we asked for. They donated a site beyond our wildest hopes, a selfcontained building with classrooms, gardens and specialist spaces, safe access, and parking! The St John’s sites team were engaged and enthusiastic even though this was their busiest time of the year they would drop everything to fix a tap or repair a child’s bike! An IT team who were too available! We popped in constantly with our IT issues and they were brilliant. The SLT made sure that we had the total support of the School and its Foundation, and they truly delivered on their charitable purpose. WE thank you!”

It was incredibly moving to see the families bravely entering a new environment to begin their learning. EERN welcomed 116 children for a total of 6,400 hours, and 70 adults with Nescot College for 5,600 hours over 16 days. As the days passed, confidence grew, and friendships were made. “Screams of joy, laughter and children playing, they made new friends and were able to relax back into their home languages amongst other children who knew only too well what they had left behind. They were happy, safe, and full of excitement.”

There wasn’t a dry eye across the School on the final day of the summer school, which coincided with Ukrainian Independence Day (24[th] August). Parents loved seeing their children in National dress, singing, dancing and reciting poetry. The children showed enthusiasm throughout their time at the Summer Language School, and now head off into new adventures at school with much more confidence.

Educational Links with Other Schools

St John’s School aims to share expertise, resources, facilities and time with local schools. In the reporting year there has been focus on developing and embedding partnerships with two key primary schools; Leatherhead Trinity School and Epsom Primary School. Both schools benefit from visits from Classics teachers who host successful Latin clubs. Leatherhead Trinity and St Peter’s Primary School use the St John’s sports centre for weekly swimming lessons. Epsom Primary benefits from six sports sessions for year 4 classes and our Lower Sixth pupils assisted with the teaching of French and Spanish on enrichment day.

In November 2021, St John’s ran a number of England Rugby ‘Pitch Up and Play’ festivals for 280 year 7, 8, and 9 pupils from the following maintained secondary schools: Riddlesdown Collegiate, Howard of Effingham School,

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

PUBLIC BENEFIT (continued)

Esher High School, Collingwood College, The Quest Academy, Hinchley Wood School, The Ashcombe School, St Andrew’s Catholic School, The Island Free School (Isle of Wight) and Cobham Free School.

St John’s School Pupils in the Community

Helping others is part of life at St John’s and it is pleasing that many activities were able to resume during 202122. Eight Sixth Form pupils visited Hartfield House care home each week and two Sixth Form pupils participated in evening sessions at Leatherhead Youth Project once each fortnight.

In June 2022 St John’s welcomed 27 elderly and disabled local residents to a summer High Tea. In a typical year, the School would also host a Christmas lunch but winter 2021 was once again covid-affected.

Fundraising and Support for Other Charities

The School’s pupils are organised into ten Houses each of which carries out fundraising events for a Housenominated charity. From House Charity Nights, which see pupils taking on the responsibility of organising formal dinners to raise money, to a 12-hour swimming challenge, crafts for sale at the SJPA Christmas Market, and sponsored challenges that continued in lockdown, the pupils are creative and industrious in their approach to fundraising. During the reporting period pupils raised £51,515 for their House charities.

The Old Johnian Charity Limited, which is an independent charity, provides support to families who experience unforeseen financial hardship during their children’s education at the School by assisting with fees and helping to meet the cost of educational trips. Support of £1,265 was provided during the year.

Sharing facilities

St John’s is fortunate to have excellent facilities and the School continues to improve and develop these to ensure that it can provide an environment that enables the best possible educational experience for the pupils. Governors are also keen to share these facilities with the wider community. The school’s swimming pool is used by a number of local swimming clubs and is made available free of charge to a local primary school and a local special school. Other sports facilities are also used by a variety of groups, such as local netball and cricket clubs, as well as being made available free of charge to groups such as Flyerz (disability inclusive) hockey.

Having reviewed the positive feedback from Community Holiday families, Epsom and Ewell Refugee Nework, the local schools and community groups that have benefitted from St John’s School initiatives, the Governors consider these activities to have been a success in achieving the advancement of education in the broader community.

Development (Fundraising and Alumni Relations)

The Development function has focused on building the culture of giving at St John’s. Widening access is central to the School’s ethos and the bursary awards and Foundationer schemes continued to attract donations, enabling more children from all backgrounds to come to the School.

Alumni relations activity was unfortunately curtailed this year because of the restrictions imposed by COVID-19.

During the year, a total of £81,543 (2021: £49,704) was received as a result of development activities, including £60,000 (2001: £2,000) in legacies. The School is most grateful for the support and generosity shown by the donor community.

The School had no fundraising activities requiring disclosure under S162A of the Charities Act 2011.

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

ACHIEVEMENTS AND PERFORMANCE

Academic Achievement

Each pupil has the opportunity to study a broad range of (I)GCSE and A level subjects. Small class sizes and staff support pupils through both the academic structures and the pastoral system; these ensure that each pupil has the opportunity to learn and develop to their fullest potential. The care and attention provided by the staff is supplemented by well-resourced departments and modern facilities, which enable pupils to achieve high standards across all areas of academic studies and co-curricular activities.

The results of the Summer 2022 examinations were a return to normal public examination formats and saw a 100% pass rate at A level, 88% A to B; 65% A/A grades; and 32% A*.

At (I)GCSE level, 82% of the grades achieved by St John’s pupils were at 9-7; 59% of all grades achieved were 9-8 and 31% of all grades awarded were at the top grade 9. Overall there was 100% pass rate.

Each year, the Education Committee, on behalf of the Governing Council, undertakes a detailed review of all results and action plans are agreed with every academic department. Particular attention and support are given to those which are considered to be performing below expectation.

Co-curricular Activities, School Trips and Expeditions

The School offers a broad range of co-curricular opportunities, from school-based clubs and activities to trips within the United Kingdom and abroad. These activities provide opportunities for pupils to develop subject knowledge, gain additional qualifications and personal experiences across a broad range of choices beyond the basic curriculum.

After being suspended because of COVID-19, school trips were able to start up again during 2021/22. These included a successful programme of enrichment trips, various subject-related field trips, and pre-season cricket and football tours. The School was also able to run the popular Duke of Edinburgh Award Scheme expeditions, including introducing the Bronze Award for the 4[th] Form as well as the Silver and Gold Awards.

Combined Cadet Force (CCF)

The CCF at St John’s School has a total of 322 cadets, including pupils from our partnership school (Southborough High School) parading every Thursday across the Royal Navy, Army and Royal Air Force Sections. Each Section continues to go from strength to strength with a full compliment of field days, trips and weekly training based at school. This year also saw the long-awaited return of the CCF Summer Camp following several years of absence after the pandemic. 87 pupils travelled to West Tofts Camp near Thetford, for a week of full on activities including shooting, water sports, mountain biking, night ambushes, paintball, airsoft, laser tag and a go-ape high ropes course.

Field Days were delivered in full, with the Army Section deploying to Stoney Castle in October, Longmoor in February and Bramshott Common in June. The Royal Navy Section enjoyed days afloat including sailing over to the Isle of Wight for fish and chips as well as days at Collingwood developing teamwork and leadership skills. The RAF enjoyed another strong year with a section training day at school alongside an overnight field exercise, pulling together all of their training in a downed pilot scenario. The return of the CCF Dinner meant pupils (past and present), staff, VIPs and guests were able to come together to celebrate the achievements of the school year. The Lord Lingfield (Honorary Colonel Army Cadet Force) joined us as our VIP and was full of praise for the young people within our Contingent.

The CCF remains one of the standout co-curricular experiences for our pupils during their school life.

9

THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

ACHIEVEMENTS AND PERFORMANCE (continued)

Sport

The sporting year of 2021/2022 saw the return of competitive fixtures and county, regional and national cups across the major sports. A new touring programme was launched covering the next 5 years. Throughout the year the school broke all previous participation and fixture records. Across 14 sports the school fielded 209 teams (with 89% of the pupil body representing the school) competing in almost 2,000 competitive fixtures.

Following the much-anticipated return of contact Rugby after a two-year break the School had a successful year. The U16s were Team of the Year with Saturday block wins over Epsom, RGS Guildford and KCS as well as Surrey 7s 3[rd] place finish and qualifying for day 2 at RP7s, and the U13s had a 2[nd] place finish at RP7s waterfall tournament. Ten pupils were selected for Harlequins performance programmes and four pupils were selected to represent the county programme.

In Hockey, the U13 team took third place in the ISHC National Cup, with the U19 team taking second place. The U14’s became England Tier 2 National Cup Champions, and five pupils were selected for National Performance Centre programmes.

Four of the School’s footballers were selected to represent the Independent Schools Football Association (ISFA). Two are currently involved with Crystal Palace Academy and one pupil has been selected for Chelsea Women’s U14 Academy. The U13 team reached the quarter final of the ISFA National Cup and the U12A team achieved the School’s longest winning streak of seven matches in a row.

The netball teams had a successful year with the U13s winning the Hurst Invitational Tournament. The 1[st] VII reached the quarter final of the National Plate and the U13s, U15s, U16s and 1[st] VII all won their groups to qualify for County Finals day with the U15s coming third.

The School also had success in other sports, with 13 cricketers selected for Surrey County Cricket programmes and the U13A girls’ cricket team reaching the County Cup semi-finals. Two teams qualified for the swimming Bath Cup and ESSA relay National Finals Day, with the Senior girls 4-50m freestyle team reaching the final of the Bath Cup. One pupil became six-time National Champion at the Junior Para Swim Championships. Three pupils obtained new LTA ratings for Tennis, and a full new programme of fixtures was introduced for the Lower School. Three pupils qualified for the Surrey County Championships in Athletics; one pupil won a Bronze medal at the British Team gym championships and one pupil competed for Team GB’s junior sailing team.

Performing Arts

2021/22 saw the department hit the ground running with a determination to rebuild ensembles and recreate a backstage fizz after the paralysis of the previous 18 months. The team worked hard and the pupil appetite was stronger than ever. The result was a year of variety and growth for the performing arts at St John's with more pupils involved, more activities and more events than ever before.

During the Autumn Term Apollo Theatre Company from Guildford gave a masterclass for around 25 pupils in the physicality needed for characterisation; the work created by the pupils was extraordinary. The lunchtime recital programme saw the return of a live audience while still being recorded and released to the School Community after the event. COVID-19 continued to cause problems; House Singing was delayed, and enforced isolations meant reduced attendance at rehearsals. Judicious editing of the script and music repertoire alterations thankfully kept calendared performances alive.

November saw the return of the Concerto Competition, adjudicated by the Precentor and Director of Music from Eton College, Mr Tim Johnson. This was followed by a bespoke version of Treasure Island from the 4F and L5, demonstrating the capabilities of the new lighting rig. The end of term saw a Drama double bill – a spoof Dracula and the classic one act farce Black Comedy . These were cast from the L5 up and involved greater numbers than previous Autumn Productions. The Omicron variant meant audiences were light on the ground, but there were many belly-laughs to be had!

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THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

ACHIEVEMENTS AND PERFORMANCE (continued)

The School’s first music masterclass for wind players was given by a phenomenal young oboist, Richard Lines Davies, who also joined the small professional orchestra for the Michaelmas Concert. The centre piece of this concert was the Vivaldi Gloria sung by the School Choir, with performances from ensembles featuring around 70 pupils. The Christmas Rock Concert was as popular as ever, and the relish found in singing carols again was palpable from the pupils as they prepared for the Carol Services.

The Spring Term’s diverse programme started with the fringe musical Songs for a New World by Jason Robert Brown. A drama masterclass on ‘the importance of why', looking at backstory, motivation and character development, was held by the Director of Performing Arts. This term's music masterclass was staged for the brass players. It was given by horn player Jacob Bagby, who plays with orchestras including the Royal Philharmonic, BBC Symphony Orchestra, the Royal Opera House and the Philharmonia.

The annual Forbes Music Competition had more than 100 entrants, covering all standards and instruments and adjudicated by external professionals. The Winner's Recital displayed an unprecedented breadth and depth across all facets of music making (and all year groups), and the talent coming up through the School is extremely exciting.

House Film and House Singing ran just before half term and were adjudicated by Mr Neil Matthews of Hurstpierpoint College. The films were screened across the preceding week in a packed PAC, and it is clear this competition is gaining in momentum and popularity each year. House Singing yet again did not fail to raise the roof of the Chapel. This year the standard of singing in part song from the boys' houses was much improved – perhaps a measure of how the performing arts are becoming more inclusive and embraced across the whole community?

After half term, 110 children and around 14 staff staged an evening of music based around and culminating in a performance of Saint Saens's The Carnival of the Animals at Cadogan Hall. Every genre and year group was represented in a varied programme and the pupils rose to the occasion with aplomb. This was followed by the first Lower School Musical Theatre Cabaret, Anything Can Happen, with a format of round tables, wine and cheese to elicit the feel of a cabaret club. The term culminated with two performances of Oscar Wilde's classic, The Importance of Being Earnest f eaturing pupils from the L5 to the U6.

The Summer Term kicked off with a Musical Theatre Masterclass from the West End star, Caroline Sheen (related to the actor Michael Sheen). She worked with around 10 of our pupils from the L3 to the U6 and made some extraordinary changes to their performing technique. This was followed by the Feeder Schools' Music Making Day. Over 140 pupils attended from local primary and prep schools playing in a large orchestra and singing in a large choir. Next year the department has plans to push the outreach programme further.

The second week of term saw the inaugural dance showcase with performers from the L3 through to the U6. There is growing momentum and excitement about dance at St John's, and the evening was performed to a hugely appreciative and responsive audience in the PAC. The Summer Concert featured a moving and effective performance of Howard Goodall's Eternal Light; A Requiem , involving the reborn St John's Choral Society joining forces with the School Choir, and an orchestra of former pupils and staff . Each ensemble excelled, in particular Schola and the Swing Band, and everybody taking part and in the audience found the evening very rewarding.

The latter half of term saw a Lower School Production, Crossing the Channel - A Comedy. This was a bespoke script, conceived by five members of the U6, and written by a team of U6 pupils, Mr Kelway and Mr White. Almost 50 pupils were involved in the evening which culminated with a performance from the Lower School Choir. The annual Senior School Cabaret, Hope , took place in the penultimate week of term. This involved 15 pupils performing an evening's entertainment with a thematic link and woven together from a variety of shows across the years. The Junior Years' Rock Concert took place two days later and was the perfect opportunity to showcase the emerging talents from the L3-L5.

All these events were complemented throughout the year by the Chapel services and lunchtime recital series that has displayed jazz, musical theatre, classical and pop from solos and ensembles totalling some 45 events from the department across the whole year. The School has also continued to invest in equipment within the auditorium, which now contains state of the art equipment, flying capabilities and will be almost unrecognisable from September 2023.

11

THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

PLANS FOR FUTURE PERIODS

The aim for 2022-2023 is post covid to refocus the community on the School’s strategic vision and build a strategic plan to direct the School through the next 5 –10 years.

St John’s School aims to promot ~~e a~~ cademic excellence and provide a caring and safe environment in which the five principles of kindness are central to our approach. Co-curricular opportunity as part of an all-round education for all pupils is central to the School’s philosophy. We wish to instil in our pupils a sense of leadership, service and responsibility, encourage innovation, curiosity and optimism and prepare them for an increasingly complex world.

The School is mindful of its history, notably our Christian heritage, and is fully committed to widening access to those from across the community. Predominately a day school, we offer a unique, inclusive flexible boarding model to suit modern family life.

FINANCIAL REVIEW

Results for the Year

The consolidated Statement of Financial Activities shows another year of positive outcome with net incoming funds from operations being £1,328,795 (2021: £306,180), which includes £1,084,635 surplus on the sale of two properties. All the School’s income is applied for educational purposes, with the primary source being through the receipt of fees. Other income is received mainly through donations, the trading activities of St John’s (Leatherhead) Enterprises Ltd, through letting of School premises and registration fees, and, in 2020-21, furlough income.

The balance sheet shows net current liabilities of £734,635 as at 31 July 2022 compared with net current liabilities of £2,538,627 at 31 July 2021. Total funds stand at £29,413,565 (2021: £28,157,358). Although the School has net current liabilities, £1,880,500 (2021: £1,802,600) of this relates to pupil deposits refundable when a pupil leaves the School, the majority of which is not expected to fall due within one year. A further £826,665 (2021: £830,337) relates to fees paid in advance for 2021/22 which is not expected to result in an outflow of cash. Therefore the net current liabilities position is not considered to be an issue.

Reserves and Financial Planning

The School maintains reserves for the following reasons:

Governing Council, via the Finance Committee, reviews the ongoing adequacy of free unallocated reserve levels and availability of cash funds, taking into account the cyclical nature of the School’s activities. Free Reserves include unrestricted funds reduced by the net book value of fixed assets (less associated secured borrowings) on the basis that such assets are needed to support the School’s activities and cannot readily be converted into cash.

12

THE SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

FINANCIAL REVIEW (continued)

The Reserves Policy is to ensure immediate access to funding at the financial year-end for the equivalent of one month’s operating expenditure, being approximately £1.7m, plus capital expenditure requirements. The total required will vary according to the size of the summer capital programme. Fees for the Autumn Term are invoiced during August, and the majority of parents pay at the start of term in September although about one third pay by direct debit over three months. It is therefore considered prudent for the School to be able to cover forecast expenditure for August in full at the year-end, recognising that cash balances will be significantly higher once the Autumn Term’s fees (around £6.9m in 2022) are invoiced.

As at 31 July 2022 the School’s total funds amounted to £29.4m (2021: £28.2m), including cash balances of £4.7m (2021: £3.7m) whereas Free Reserves stood at a negative £619k (2021: negative £2.3m). Free Reserves are calculated as follows:

re calculated as follows:
General Fund
Foundation Fund (unrestricted)
Fixed Assets
Less related borrowings
Free Reserves		 32,210
(2,809)		 2022
£000
28,390
392		 33,519
(3,702)		 2021
£000
26,846
636
28,782
(29,401)
(619)		 27,482
(29,817)
(2,335)

Although Free Reserves were negative at the year-end the School’s immediately available cash balance of £4.7m exceeded the policy target. In addition, £2.0m of the creditor balance (£827k due within one year and £1.2m due after more than one year) relates to payment of fees in advance, which will be taken to income on a termly basis and which is not expected to result in an outflow of cash.

Going concern

Negative Free Reserves as at 31 July are not considered to be of significant concern because the School has a full roll of pupils for September 2022 and forecasts including cash flow projections indicate that the School will continue to meet its liabilities as they fall due. Cost management measures introduced in previous years remain in place and ongoing annual surpluses are predicted. Detailed multi-year scenario planning has been carried out to consider the School’s resilience and ability to meet banking covenants. This planning indicates that covenants will not be breached and the School should remain solvent for at least one full financial year after the date of signing these financial statements. As such, the Governors believe that the going concern basis of accounting continues to be appropriate in preparing the financial statements.

Investment management

The Governors’ powers of investment are widely defined and, in accordance with the Trustee Act 2000, investment may be in stocks, shares and other investments, as they consider appropriate. The investment assets of the School are managed by Investec Wealth & Investment Limited. The primary objective of the management of investments is to preserve the capital value of the fund in real terms and to provide income and capital growth if possible. In line with the investment strategy set by the Governors, the Fund Manager has discretion to invest in the approved asset classes accordingly. The performance of the Fund Manager and the investment strategy are reviewed regularly by the Finance Committee.

13

SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

Risk Management

The Governors are responsible for the management of risks faced by the School. Detailed consideration of risk is delegated to the Senior Leadership Team and their reports on the Risk Register and the Risk Management Policy have been reviewed by the Risk Management and Compliance Committee. The Head reports to Council via this Committee on the risks and steps being taken by the School to mitigate and manage those risks.

The Governors are satisfied that for the year ended 31 July 2022 adequate systems and controls were in place to mitigate and manage the School’s exposure to the major risk categories which were identified as:

This financial year the School was pleased to receive an excellent ISI report noting full compliance with all standards and providing external validation of the strength of provision pupils experience at St John’s. The school successfully navigated the financial challenges posed by the pandemic but continues to monitor financial stability closely in light of the current economic challenges including high rates of inflation.

It is recognised that systems are only able to provide reasonable and not absolute assurance that major risks are being adequately managed.

14

SAINT JOHN’S SCHOOL FOUNDATION

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 JULY 2022

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors are responsible for preparing the Governors’ Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

The law applicable to charities in England and Wales 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 the group and of the incoming resources and application of resources of the group for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions, 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, the Charities (Accounts and Reports) Regulations 2015 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and ensuring their proper application under charity law and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Council on 30 November 2022 and signed on its behalf by:

John Gravett Vice Chair of the Council

15

INDEPENDENT AUDITOR’S REPORT TO THE GOVERNORS OF THE SAINT JOHN’S SCHOOL FOUNDATION

Opinion

We have audited the financial statements of the Saint John’s School Foundation for the year ended 31 July 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’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 going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

16

INDEPENDENT AUDITOR’S REPORT TO THE GOVERNORS OF THE SAINT JOHN’S SCHOOL FOUNDATION (continued)

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 14, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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

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

We obtained an understanding of the legal and regulatory frameworks within which the charity and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 and taxation legislation together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

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

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

17

INDEPENDENT AUDITOR’S REPORT TO THE GOVERNORS OF THE SAINT JOHN’S SCHOOL FOUNDATION (continued)

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

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

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP Statutory Auditor

London

Date

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

18

THE SAINT JOHN’S SCHOOL FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 JULY 2022

Notes
Income from:
Donations and legacies
2
Charitable activities: School fees
3
Other income from charitable activities
4
Other trading activities
5
Investments
6
Other income
Total income
Expenditure on:
Raising funds
10
Charitable activities
10
Total expenditure
10
Net incoming funds from operations
before investment gains
Net (losses) / gains on investments
13
Net income
Transfers between funds
22
Other recognised gains:
Actuarial (losses) / gains on defined
benefit pension scheme
Net movement in funds
Reconciliation of funds
Total funds brought forward
22
Total funds carried forward		 Unrestricted
funds
£
81,048
19,109,950
951,479
104,897
31,739
1,084,635
21,363,748
50,625
19,977,886
20,028,511
1,335,237
(35,660)
1,299,577
100
-
1,299,677
27,481,989
28,781,666		 Restricted
and
endowment
funds
£
142,346
-
-
-
21,363
-
163,709
74,450
95,701
170,151
(6,442)
(36,928)
(43,370)
(100)
-
(43,470)
675,369
631,899		 Total funds
2022
£
223,394
19,109,950
951,479
104,897
53,102
1,084,635
21,527,457
125,075
20,073,587
20,198,662
1,328,795
(72,588)
1,256,207
-
-
1,256,207
28,157,358
29,413,565		 Total funds
2021
£
78,191
17,495,842
665,823
57,248
39,855
293,698
18,630,657
41,443
18,283,034
18,324,477
306,180
89,226
395,406
-
(384,000)
11,406
28,145,952
28,157,358

All amounts derive from continuing activities.

All gains and losses recognised in the year are included in the statement of financial activities.

Movements in endowment funds have not been shown separately in the Statement of Financial Activities on the grounds of immateriality. No endowment income was received during the year. An analysis of movements in endowment funds can be found in note 22 to the financial statements.

The notes on pages 22-41 form part of these financial statements.

19

THE SAINT JOHN’S SCHOOL FOUNDATION

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 JULY 2022

Notes
Fixed assets
Tangible assets
12
Investments
13
Total fixed assets
Current assets
Debtors
15
Cash at bank and in hand
Total current assets
Liabilities
Creditors: amounts falling due within
one year
16
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Total net assets
The funds of the School:
Endowment funds
Restricted income funds
Total restricted funds
Unrestricted funds
Total unrestricted funds
Total School funds
22		 Group
2022
£
32,210,276
1,075,926
33,286,202
405,760
4,693,790
5,099,550
(5,834,185)
(734,635)
32,551,567
(3,138,002)
29,413,565
209,988
421,911
631,899
28,781,666
28,781,666
29,413,565		 Group
2021
£
33,518,577
1,159,314
34,677,891
265,368
3,724,874
3,990,242
(6,528,869)
(2,538,627)
32,139,264
(3,981,906)
28,157,358
226,261
449,108
675,369
27,481,989
27,481,989
28,157,358		 School
2022
£
32,210,276
1,115,926
33,326,202
474,968
4,561,469
5,036,437
(5,811,072)
(774,635)
32,551,567
(3,138,002)
29,413,565
209,988
421,911
631,899
28,781,666
28,781,666
29,413,565		 School
2021
£
33,518,577
1,199,314
34,717,891
290,134
3,656,308
3,946,442
(6,525,069)
(2,578,627)
32,139,264
(3,981,906)
28,157,358
226,261
449,108
675,369
27,481,989
27,481,989
28,157,358

The School’s incoming resources, excluding the subsidiary company, amounted to £21,516,589 (2021: £18,626,290), resources expended amounted to £20,187,794 (2021: £18,320,110) and net incoming resources amounted to £1,328,795 (2021: £306,180).

The financial statements were approved and authorised for issue by the Council on 30 November 2022 and were signed below on its behalf by:

Vice Chair of the Council John Gravett

The notes on pages 22-41 form part of these financial statements.

20

THE SAINT JOHN’S SCHOOL FOUNDATION

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2022

Total funds
2022
£
Cash flows from operating activities
Net cash provided by operating activities
1,895,027
Cash flows from investing activities
Dividends, interest and rents from investments
51,472
Proceeds from the sale of fixed assets
1,679,560
Purchase of fixed assets
(1,481,046)
Proceeds from the sale of investments
448,874
Purchase of investments
(448,874)
Net cash used in investing activities
249,986
Cash flows from financing activities
Repayments of borrowing
(2,381,408)
Cash inflows from new borrowing
-
Fees in advance – receipts less refunds
1,127,411
Increase / (Decrease) in advance deposits
77,900
Net cash provided by financing activities
(1,176,097)
Change in cash and cash equivalents in the year
968,916
Cash and cash equivalents at 1 August 2021
3,724,874
Cash and cash equivalents at 31 July 2022
4,693,790
NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
Reconciliation of net income / (expenditure) to net cash flows from operating activities		 Total funds
2021
£
1,691,739
41,488
-
(704,373)
389,429
(389,429)
(662,885)
(895,771)
-
796,881
1,306
(97,584)
931,270
2,793,604
3,724,874
Net income for the year
Adjustments for:
Depreciation charges
Losses / (gains) on investments
Dividends, interest and rents from investments
(Profit) / loss on disposal of fixed assets
Release of fees in advance
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Other non-cash movements – pension and investment management costs
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 Total 2022
£
1,256,207
2,140,498
72,588
(53,102)
(987,109)
(1,078,428)
(138,762)
672,336
10,799
1,895,027
Total 2022
£
4,693,790
4,693,790		 Total 2021
£
395,406
2,133,660
(89,226)
(39,855)
95,466
(1,012,257)
88,289
(563)
120,819
1,691,739
Total 2021
£
3,724,874
3,724,874

21

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES

a) Basis of Preparation of the Financial Statements

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”) issued on 16 July 2014 and FRS 102 and the Charities Act 2011. They are drawn up under the historical cost convention except that investments are carried at market value, and properties outside the School grounds at their valuation in 1996. No cash flow statement is presented for the School alone as the exemption to do so is taken under section 1 of FRS 102.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102 issued on 16 July 2014 rather than the previous Statement of Recommended Practice: Accounting and Reporting by Charities which was effective from 1 April 2005 but which has since been withdrawn.

The School constitutes a public benefit entity as defined by FRS 102.

Group Accounting Policies

These financial statements consolidate the results of the School and its wholly-owned trading subsidiary, St John’s (Leatherhead) Enterprises Ltd, on a line by line basis. No separate Statement of Financial Activities has been presented for the School alone.

b) Going concern

The School has a full roll of pupils for September 2022 and forecasts including cash flow projections indicate that the School will continue to meet its liabilities as they fall due. Cost management measures introduced in previous years remain in place and ongoing annual surpluses are predicted. Detailed multi-year scenario planning has been carried out to consider the School’s resilience and ability to meet banking covenants, This planning indicates that covenants will not be breached and the School should remain solvent for at least one full financial year after the date of signing these financial statements. Therefore the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future, and can continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Governors’ Responsibilities on page 14.

c) Fees and similar earned income

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 bursaries, scholarships, Foundation subsidies and other remissions allowed by the School, but include contributions received for bursaries from restricted funds.

In addition to termly fees, which are payable at the commencement of each term, the School accepts fees for longer periods. These longer-term fees paid in advance are held within creditors and credited to income when the fees fall due.

d) Activities for generating funds

This income comprises the trading activities of the School and its subsidiary entity and is credited to the Statement of Financial Activities on a receivable basis.

e) Investment income

Investment income from dividends, bank balances and fixed interest securities is accounted for on an accruals basis.

22

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES (continued)

f) Donations, legacies and other income

Donations received for the general purposes of the School are credited to unrestricted funds on receipt and are spent within the year or carried forward for School-specific purposes. Donations and appeal income received for specific purposes are credited to restricted funds on receipt and applied in accordance with the wishes of the donors.

Legacy income is credited to incoming resources after granting of probate, when the School becomes entitled to the income, receipt is considered probable, and the amount is quantifiable.

Government grants are recognised on the accruals basis, when there is reasonable assurance that the School will comply with the conditions attaching to the grant and the grant will be received. The grant in connection to the job retention scheme, has been recognised in the period to which the underlying furloughed staff costs relate to.

g) Resources expended

Expenditure has been charged in the Statement of Financial Activities on an accruals basis inclusive of value added tax where applicable. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources. Governance costs, which relate to the constitutional and statutory requirements and include any costs associated with the strategic management of the School’s activities, have been included within support costs and apportioned across the School’s activities. Expenditure is allocated on the bases indicated below:

Cost of raising funds

Cost of raising funds comprises the costs of fundraising activities and related staff costs, commercial trading activities and investment management fees.

Charitable activities

Charitable activities are those directly related to the objects of the charity and are reflected in these accounts under three main headings:

Support costs

Overhead costs include finance, insurance, IT, legal and professional, and other administrative and governance costs associated with supporting the running of the School. They have been allocated to the cost raising funds and to charitable activities according to the proportion of direct costs attributed to each area.

h) Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the term of the lease.

i)

Finance leases

Assets held under finance leases are capitalised as fixed assets and depreciated over the term of the lease. A corresponding creditor is recognised at transaction upon acquisition and subsequently measured at amortised cost using the effective interest method. Depreciation and interest costs are charged to the Statement of Financial Activities as they are incurred.

j)

Irrecoverable VAT

Any irrecoverable VAT is charged to the Statement of Financial Activities under the particular heading to which the expenses relates, or capitalised as part of the cost of the related asset, where appropriate.

23

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES (continued)

k)

Fixed assets

Expenditure since 1948 on freehold properties within School grounds has been capitalised at cost. Expenditure outside School grounds was capitalised at market value at 31 August 1996. From 1 September 1996 items of capital expenditure have been charged as expenses in the Statement of Financial Activities where the cost of that item is less than the capitalisation threshold set by the Governors or where the expected useful life is less than three years. The capitalisation threshold is £4,000 and is reviewed periodically by the Governors. Tangible fixed assets are depreciated by equal annual instalments over their estimated useful lives at the following rates:

Buildings 50 years
Land Not depreciated
Assets under the course of construction Not depreciated until brought into use
Chapel Organ 50 years
Improvements and extensions 20 years
Synthetic pitches 10 years
Furniture and equipment 4 years
Motor vehicles 4 years
Leasehold assets Over the term of the lease
Plant and machinery 10 - 20 years

l) Investments

Listed investments are valued at the market value at the balance sheet date. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities and are allocated to the appropriate fund according to the “ownership” of the underlying assets.

m) Measurement of debtors

Debtors due within one year are measured at cost less any amounts considered to be irrecoverable.

n) Recognition of liabilities

Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions or events. Liabilities are measured at the amount the School expects to transfer in settlement of the liability.

o) Financial instruments

The School only has financial assets and liabilities of a kind that qualify as basic financial instruments. These include debtors, cash and bank balances, creditors and bank loans. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of investments in equity and fixed income funds which are measured at fair value. Changes in fair value are recognised in the Statement of Financial Activities in accordance with FRS 102, section 11.

At the balance sheet date the Group held financial assets at fair value through income or expenditure of £1,075,926 (2021: £1,159,314).

p) Judgements and estimates

In the application of the accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. These are reassessed annually.

The valuation of the defined benefit pension scheme is subject to actuarial assumptions. These are set out in note 26 to the financial statements.

24

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES (continued)

q) Pension Schemes

Retirement benefits to employees of the School are provided through three pension schemes – two defined benefit schemes and one defined contribution scheme. The pension costs charged in the Statement of Financial Activities are determined as follows:

The Teachers’ Pension Scheme

This is a multi-employer pension scheme. It is not possible to identify the School’s share of the underlying assets and liabilities of the Teachers’ Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS 102, it is accounted for as if it were a defined contribution scheme. The School’s contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.

The St John’s Foundation School Pension and Assurance Scheme

This was a defined benefit scheme for non-teaching staff which was closed to new entrants on 1 May 2001 and to further accrual on 1 March 2016. A buy-out of the scheme was completed in March 2021 and the School has no further responsibility for the payment of pensions.

The defined benefit pension scheme current service costs were charged to the Statement of Financial Activities within staff costs until the completion of the buy-out. The expected return on the scheme assets less the scheme interest costs have been credited within other interest. The scheme actuarial gains and losses are recognised immediately as other recognised gains and losses. The defined benefit scheme assets were measured at fair value at the balance sheet date in 2020. Scheme liabilities were measured on an actuarial basis at the balance sheet date using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term to the scheme liabilities. The resulting defined benefit asset or liability was presented separately after other net assets on the face of the Balance Sheet. Folloiwng the buy-out there is no asset or liability pertaining to the School.

Defined contribution scheme

The Group Personal Pension Plan (introduced on 1 July 2001) for support staff is a defined contribution scheme and contributions are accounted for as a charge to the Statement of Financial Activities in the period in which the salaries to which they relate are payable.

r) Fund accounting

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

Unrestricted funds

These are available for use at the discretion of the Council in furtherance of the general objectives of the School. Where the Governors decide to set aside any part of these funds to be used in future for some specific purpose, this is accounted for by transfer to the appropriate designated fund.

Restricted income funds

These funds are treated in accordance with restrictions imposed by the donors. Funds raised for specific capital projects are released to unrestricted funds as expenditure on the project is incurred.

Endowment funds

These are funds for which the capital is maintained in accordance with specific restrictions imposed by the donors. All endowment funds held by the School are permanent, where the gift is to be retained permanently to generate income for the School. The income from the endowment funds is restricted as set out in note 22.

25

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

2.
DONATIONS AND LEGACIES
Unrestricted
£
Donations
21,048
Legacies
60,000
81,048
3.
SCHOOL FEES
The School’s fee income consisted of:
Gross fees
Less:
Bursaries, scholarships and remissions
Add back:
Bursaries paid by restricted funds
4.
OTHER INCOME FROM CHARITABLE ACTIVITIES
Registration fees
Transport income
Other income
Income from school trips and extracurricular activities
Charitable rent and hire of facilities
5.
OTHER TRADING INCOME
Rent and hire of facilities		 Restricted
£
141,346
1,000
142,346		 Restricted
£
141,346
1,000
142,346		 2022
£
162,394
61,000
223,394
2022
£
20,589,801
(1,509,511)
19,080,290
29,660
19,109,950
2022
£
152,650
429,602
77,426
201,087
90,714
951,479
2022
£
104,897		 2021
£
76,191
2,000
142,346 78,191
2021
£
19,169,936
(1,720,033)
17,449,903
45,939
17,495,842
2021
£
188,700
288,044
33,456
88,823
66,800
665,823
2021
£
57,248

26

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

6.
INVESTMENT INCOME
Unrestricted
Restricted
2022
£
£
£
Bank interest
11,115
-
11,115
Investment income
20,624
21,363
41,987
31,739
21,363
53,102
7.
EXPENDITURE
2022
£
Expenditure includes:
Depreciation
2,140,498
Auditors’ remuneration
For audit services
For other services
25,258
1,350
8.
STAFF COSTS
2022
£
Wages and salaries
8,963,024
Social security costs
971,123
Termination payments
33,284
Employer’s contribution to defined contribution pension schemes
1,318,413
Cost of operating defined benefit pension scheme
-
11,285,844		 6.
INVESTMENT INCOME
Unrestricted
Restricted
2022
£
£
£
Bank interest
11,115
-
11,115
Investment income
20,624
21,363
41,987
31,739
21,363
53,102
7.
EXPENDITURE
2022
£
Expenditure includes:
Depreciation
2,140,498
Auditors’ remuneration
For audit services
For other services
25,258
1,350
8.
STAFF COSTS
2022
£
Wages and salaries
8,963,024
Social security costs
971,123
Termination payments
33,284
Employer’s contribution to defined contribution pension schemes
1,318,413
Cost of operating defined benefit pension scheme
-
11,285,844		 2021
£
1
39,854
39,855
2021
£
2,133,660
22,310
1,590
2021
£
8,221,149
855,060
63,351
1,284,909
110,000
10,534,469

All termination payments were paid during the year (2021: amounts due but not paid at the year end of £0).

The average number of employees in the year, including part-time employees, was 211 (2021: 218) of which 106 (2021: 108) were teaching staff.

The number of higher paid employees was: 2022 2021
£60,000 - £69,999 21 16
£70,000 - £79,999 6 3
£80,000 - £89,999 2 1
£90,000 - £99,999 1 3
£100,000 - £109,999 1 1
£120,000,-,£129,999 1 -
£180,000 - £189,999 - 1
£190,000 - £199,999 1 -
Amounts paid to key management personnel 1,002,681 950,670

Amounts paid to key management personnel

27

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

9. TRUSTEES

Neither the Governors nor persons connected with them received any remuneration or other benefits from the School or any connected entity. No Governors (2021: none) received reimbursement of travel expenses (2021: £nil). One Governor is a partner at Patrick Gardner & Company who provide property investment and valuation advice to the School. No charges were made for this advice. A premium of £5,000 (2021: £5,000) was paid for trustee indemnity insurance cover of £10m.

10. ANALYSIS OF TOTAL RESOURCES EXPENDED

Raising funds
Fundraising costs
Investment management fees
Trading costs
Charitable activities
School operating costs
Teaching
Welfare and catering
Premises
Support costs of schooling
Bursaries paid from restricted funds
Total charitable activities
Total costs
11.
SUPPORT COSTS 2022
Governance
Finance
Legal, professional, training and
recruitment
Insurance
IT support
Office supplies and equipment
Marketing and communications
Support wages and salaries
Depreciation
Travel and transport
Miscellaneous expenditure		 Staff costs
Direct
costs
Support
costs
Total 2022
Total 2021
£
£
£
£
£
-
75,823
24,127
99,950
24,750
-
10,799
-
10,799
10,627
-
10,868
3,458
14,326
5,874
-
97,490
27,585
125,075
41,443
8,356,100
1,014,288
-
9,370,388
8,329,192
1,537,019
1,447,276
-
2,984,295
2,660,914
293,393
2,557,405
-
2,850,798
2,569,185
-
-
4,838,466
4,838,466
4,677,804
10,186,512
5,018,969
4,838,446
20,043,927
18,237,095
-
29,660
-
29,660
87,169
10,186,512
5,048,629
4,838,446
20,073,587
17,764,518
10,186,512
5,146,119
4,866,031
20,198,662
18,324,477
Fundraising
Trading
Schooling
Total 2022
£
£
£
£
119
17
23,792
23,928
925
133
185,519
186,577
690
99
138,347
139,136
637
91
127,799
128,527
1,663
238
333,449
335,350
710
102
142,373
143,185
446
64
89,504
90,014
5,451
781
1,093,100
1,099,332
11,094
1,590
2,224,829
2,237,513
2,335
335
468,210
470,880
57
8
11,524
11,589
24,127
3,458
4,838,446
4,866,031		 Total 2021
£
24,750
10,627
5,874
41,443
8,329,192
2,660,914
2,569,185
4,677,804
18,237,095
87,169
17,764,518
18,324,477

28

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

11. SUPPORT COSTS 2021 (continued)

SUPPORT COSTS 2021 (continued)
FIXED ASSETS
Buildings
within
School
grounds
£
Cost / valuation
At 1 August 2021
42,969,726
Transfers
632,148
Additions
-
Disposals
(423,743)
At 31 July 2022
43,178,131
Depreciation
At 1 August 2021
13,454,595
Charge for the year
1,706,340
Eliminated on disposal
(266,920)
At 31 July 2022
14,894,015
Net book value
At 31 July 2022
28,284,116
At 31 July 2021
29,515,131
Governance
Finance
Legal, professional, training and
recruitment
Insurance
IT support
Office supplies and equipment
Marketing and communications
Support wages and salaries
Depreciation
Travel and transport
Miscellaneous expenditure		 Freehold land
and buildings
outside School
grounds
£
2,329,834
97,594
-
(482,594)
1,944,834
977,402
53,593
(53,900)
977,095
967,739
1,352,432
Fundraising
£
30
315
213
183
395
139
69
1,489
3,020
493
2
6,348		 Plant and
machinery
£
5,061,821
450,895
9,000
(240,171)
5,281,545
2,999,690
380,565
(133,237)
3,247,018
2,034,527
2,062,131
Trading
£
7
75
51
43
95
33
16
353
717
117
-
1,507		 Assets under
construction
£
588,883
(1,180,637)
1,515,648
-
923,894
-
-
-
-
923,894
588,883
Schooling
£
22,108
231,966
156,914
134,479
291,514
102,706
51,174
1,096,921
2,225,389
363,332
1,301
4,677,804		 Total 2021
£
22,145
232,356
157,178
134,705
292,004
102,878
51,259
1,098,763
2,229,126
363,942
1,303
4,685,659
Total
£
50,950,264
-
1,524,648
(1,146,508)
51,328,404
17,431,687
2,140,498
(454,057)
19,118,128
32,210,276
33,518,577

12. FIXED ASSETS

The School had capital commitments of £1,215,301 at the year end (2021: capital commitments of £436,068).

No assets were held under finance leases (2021: none).

29

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

13. INVESTMENTS
Group School
2022 2021 2022 2021
£ £ £ £
a) Movements
At 1 August 2021 1,159,314
 1,080,906 1,199,314
 1,120,906
Purchases 439,084 382,320 439,084 382,320
Disposals (448,874) (389,429) (448,874) (389,429)
Investment management fees (10,799) (10,819) (10,799) (10,819)
Cash retained within portfolio 9,789 7,110 9,789 7,110
Net gains for the year (72,588) 89,226 (72,588) 89,226
At 31 July 2022 1,075,926
 1,159,314 1,115,926
 1,199,314
b) Balances
Investec Wealth & Investment portfolio 1,075,926
 1,159,314 1,075,926
 1,159,314
Investment in subsidiary - - 40,000 40,000
Total 1,075,926
 1,159,314 1,115,926
 1,199,314
c) Historical cost
Investec Wealth & Investment portfolio 1,062,050
 1,080,205 1,062,050
 1,080,205
Investment in subsidiary - - 40,000 40,000
Total 1,062,050
 1,080,205 1,102,050
 1,120,205
14. TRADING SUBSIDIARY
The School owns 100% of the issued share capital of St John’s (Leatherhead) Enterprises Ltd, registered
company number 6646348 (England and Wales). The company was incorporated on 15 July 2008.
2022 2021
£ £
Turnover 104,897 57,248
Cost of sales (8,621) -
Gross profit 96,276 57,248
Administration expenses (2,247) (4,367)
Net profit 94,029 52,881
Gift aid payment to St John’s School (94,029) (52,881)
Retained profit for the year - -
The assets and liabilities of the subsidiary were:
Current assets 147,726 81,681
Current liabilities (107,726) (41,681)
Total net assets 40,000 40,000
Aggregate share capital and reserves 40,000 40,000

30

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

15.
DEBTORS
Group
2022
2021
£
£
School fees
71,592
43,916
Due from subsidiary company
-
-
Sundry debtors
14,111
20,523
Prepayments
320,057
200,929
405,760
265,368
16.
CREDITORS: amounts falling due within one year
Group
2022
2021
£
£
Bank loan (note 18)
903,768
900,317
Fees in advance (note 19)
826,665
830,337
Advanced deposit fund
1,880,500
1,802,600
Taxation and social security
260,026
225,018
Other creditors
1,672,588
995,339
Accruals and deferred income
290,638
286,958
Bond borrowing
-
1,488,300
5,834,185
6,528,869
17.
CREDITORS: amounts falling due after more than one
year
Group
2022
2021
£
£
Bank loan (note 18)
1,905,043
2,801,602
Fees in advance (note 19)
1,232,959
1,180,304
3,138,002
3,981,906
18.
BANK LOAN
Falling due for repayment:
- between two and five years
- after more than five years
- within one year		 15.
DEBTORS
Group
2022
2021
£
£
School fees
71,592
43,916
Due from subsidiary company
-
-
Sundry debtors
14,111
20,523
Prepayments
320,057
200,929
405,760
265,368
16.
CREDITORS: amounts falling due within one year
Group
2022
2021
£
£
Bank loan (note 18)
903,768
900,317
Fees in advance (note 19)
826,665
830,337
Advanced deposit fund
1,880,500
1,802,600
Taxation and social security
260,026
225,018
Other creditors
1,672,588
995,339
Accruals and deferred income
290,638
286,958
Bond borrowing
-
1,488,300
5,834,185
6,528,869
17.
CREDITORS: amounts falling due after more than one
year
Group
2022
2021
£
£
Bank loan (note 18)
1,905,043
2,801,602
Fees in advance (note 19)
1,232,959
1,180,304
3,138,002
3,981,906
18.
BANK LOAN
Falling due for repayment:
- between two and five years
- after more than five years
- within one year		 15.
DEBTORS
Group
2022
2021
£
£
School fees
71,592
43,916
Due from subsidiary company
-
-
Sundry debtors
14,111
20,523
Prepayments
320,057
200,929
405,760
265,368
16.
CREDITORS: amounts falling due within one year
Group
2022
2021
£
£
Bank loan (note 18)
903,768
900,317
Fees in advance (note 19)
826,665
830,337
Advanced deposit fund
1,880,500
1,802,600
Taxation and social security
260,026
225,018
Other creditors
1,672,588
995,339
Accruals and deferred income
290,638
286,958
Bond borrowing
-
1,488,300
5,834,185
6,528,869
17.
CREDITORS: amounts falling due after more than one
year
Group
2022
2021
£
£
Bank loan (note 18)
1,905,043
2,801,602
Fees in advance (note 19)
1,232,959
1,180,304
3,138,002
3,981,906
18.
BANK LOAN
Falling due for repayment:
- between two and five years
- after more than five years
- within one year		 School
2022
2021
£
£
71,592
43,916
84,613
37,881
3,706
7,408
315,057
200,929
474,968
290,134
School
2022
2021
£
£
903,768
900,317
826,665
830,337
1,880,500
1,802,600
260,026
225,018
1,649,475
991,539
290,638
286,958
-
1,488,300
5,811,072
6,525,069
School
2022
2021
£
£
1,905,043
2,801,602
1,232,959
1,180,304
3,138,002
3,981,906
2022
2021
£
£
1,905,043
2,801,602
-
-
1,905,043
2,801,602
903,768
900,317
2,808,811
3,701,919		 School
2022
2021
£
£
71,592
43,916
84,613
37,881
3,706
7,408
315,057
200,929
474,968
290,134
School
2022
2021
£
£
903,768
900,317
826,665
830,337
1,880,500
1,802,600
260,026
225,018
1,649,475
991,539
290,638
286,958
-
1,488,300
5,811,072
6,525,069
School
2022
2021
£
£
1,905,043
2,801,602
1,232,959
1,180,304
3,138,002
3,981,906
2022
2021
£
£
1,905,043
2,801,602
-
-
1,905,043
2,801,602
903,768
900,317
2,808,811
3,701,919		 School
2022
2021
£
£
71,592
43,916
84,613
37,881
3,706
7,408
315,057
200,929
474,968
290,134
School
2022
2021
£
£
903,768
900,317
826,665
830,337
1,880,500
1,802,600
260,026
225,018
1,649,475
991,539
290,638
286,958
-
1,488,300
5,811,072
6,525,069
School
2022
2021
£
£
1,905,043
2,801,602
1,232,959
1,180,304
3,138,002
3,981,906
2022
2021
£
£
1,905,043
2,801,602
-
-
1,905,043
2,801,602
903,768
900,317
2,808,811
3,701,919
3,981,906
2022
£
1,905,043
-
1,905,043
903,768
2,808,811		 2021
£
2,801,602
-
2,801,602
900,317
3,701,919

The loan facility is secured on some of the School’s property assets.

31

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

19. FEES IN ADVANCE

FEES IN ADVANCE
Balance brought forward
New fees in advance received
Fees in advance refunded
Amounts utilised in payment of fees
Amounts accrued in the year
Balance carried forward
Represented by creditors falling due:
- within one year
- after more than one year		 2022
£
2,010,641
1,127,411
-
3,138,052
(1,101,730)
2,036,322
23,302
2,059,624
826,665
1,232,959
2,059,624		 2021
£
2,226,017
796,881
-
3,022,898
(1,028,181)
1,994,717
15,924
2,010,641
830,337
1,180,304
2,010,641

Parents may enter into a contract with the School to pay for fees in advance. The money may be returned subject to conditions. If the pupils should remain at the School the liability for fees paid in advance is set out as above.

20. DEFERRED INCOME

Balance brought forward
Released to Statement of Financial Activities
Deferred during the year
Balance carried forward		 2022
£
-
-
19,516
19,516		 2021
£
480
(480)
-
-

32

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

21.
a)
Balance at 31 July 2022
Unrestricted funds
Restricted income funds
Endowment funds
Balance at 31 July 2022
b)
Balance at 31 July 2021
Unrestricted funds
Restricted income funds
Endowment funds
Balance at 31 July 2021		 Fixed
assets
£
32,210,276
-
-
32,210,276
Fixed
assets
£
33,518,577
-
-
33,518,577		 Invest-
ments
£
528,565
337,373
209,988
1,075,926
Invest-
ments
£
569,532
363,521
226,261
1,159,314		 Net
current
liabilities
£
(819,173)
84,538
-
(734,635)
Net
current
liabilities
£
(2,624,214)
85,587
-
(2,538,627)		 Long
term
liabilities
£
(3,138,002)
-
-
(3,138,002)
Long
term
liabilities
£
(3,981,906)
-
-
(3,981,906)		 Total
£
28,781,666
421,911
209,988
29,413,565
Total
£
27,481,989
449,108
226,261
28,157,358

33

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

22. STATEMENT OF FUNDS

For the year ended 31 July 2022

Balance at Incoming Resources Gains Transfers Balance at
1 August resources expended and 31 July
2021 losses 2022
£ £ £ £ £ £
a) Unrestricted funds
General fund 26,845,522 21,343,124 (19,799,004) - 100 28,389,742
Foundation fund 636,467 20,624 (229,507) (35,660) - 391,924
27,481,989 21,363,748 (20,028,511) (35,660) 100 28,781,666
b) Restricted income funds
Old Johnian fund 405,518 13,166 25,146 (22,762) - 370,776
Foundation Appeal fund - 10,513 (10,513) - - -
Bursary fund - 10,950 (10,950) - - -
Russell Baker fund - 6,850 (6,850) - - -
Champney’s Fund - 82 (82) - - -
Hinton Scholarship fund - 1,265 (1,265) - - -
Other funds 43,590 120,883 (113,238) - (100) 51,135
449,108 163,709 (168,044) (22,762) (100) 421,911
c) Endowment funds
Russell Baker fund 189,072 - (1,761) (11,838) - 175,473
Champney’s Fund 2,278 - (21) (143) - 2,114
Hinton Scholarship fund 34,911 - (325) (2,185) - 32,401
226,261 - (2,107) (14,166) - 209,988
Total restricted funds 675,369 163,709 (170,151) (36,928) (100) 631,899
Total funds 28,157,358 21,527,457 (20,198,662) (72,588) - 29,413,565

Foundation fund

The Foundation fund has been designated to provide bursarial support for children of clergy. The fund is not restricted or subject to any trust or endowment.

Restricted funds

The Old Johnian fund, being the transfer of assets from the former Old Johnian Society, is used to support the work of the Development Department with alumni.

The Albany Award fund provides up to 100% fee remission for children whose parents would otherwise be unable to afford the fees.

The Foundation Appeal fund supports the provision of bursaries to children of clergy.

The Russell Baker, Champney’s, and Hinton Scholarship funds were all established as endowment funds to provide financial support to parents who, through illness or bereavement, need financial assistance to pay the School’s fees. Support is provided from the income generated by these funds, while the capital is maintained to provide support for future generations of pupils.

Transfers between funds

The transfer of £100 from restricted to unrestricted funds relates to the expensing of restricted funds on the project to publish the Great War Book.

34

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

STATEMENT OF FUNDS (continued)

For the year ended 31 July 2021 the year ended 31 July 2021
Balance at Incoming Resources Gains Transfers Balance at
1 August resources expended and 31 July
2020 losses 2021
£ £ £ £ £ £
a) Unrestricted funds
General fund 26,155,824 18,531,798 (17,842,200) - 100 26,845,522
Foundation fund 863,026 19,577 (289,970) 43,834 - 636,467
Pension reserve 494,000 - (110,000) (384,000) - -
27,512,850 18,551,375 (18,242,170) (340,166) 100 27,481,989
b) Restricted income funds
Old Johnian fund 371,614 12,497 (6,571) 27,978 - 405,518
Albany Award fund - 9,765 (9,765) - - -
Foundation Appeal fund - 17,443 (17,443) - - -
Bursary fund - 4,730 (4,730) - - -
COVID-19 Hardship - 6,221 (6,221) - - -
fund
Russell Baker fund - 6,502 (6,502) - - -
Champney’s Fund - 78 (78) - - -
Hinton Scholarship fund - 1,200 (1,200) - - -
Other funds 50,529 20,846 (27,685) - (100) 43,590
422,143 79,282 (80,195) 27,978 (100) 449,108
c) Endowment funds
Russell Baker fund 176,285 - (1,765) 14,552 - 189,072
Champney’s Fund 2,124 - (21) 175 - 2,278
Hinton Scholarship fund 32,550 - (326) 2,687 - 34,911
210,959 - (2,112) 17,414 - 226,261
Total restricted funds 633,102 79,282 (82,307) 45,392 (100) 675,369
Total funds 28,145,952 18,630,657 (18,324,477) (294,774) - 28,157,358

23. OPERATING LEASE COMMITMENTS

At 31 July 2022 the School had the following commitments under non-cancellable operating leases:

Expiring within one year
Expiring between two and five years		 2022
£
72,180
82,882
155,062		 2021
£
42,757
59,545
102,302

During the year £80,740 was recognised as an expense under operating leases (2021: £78,691).

35

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

24. RELATED PARTY TRANSACTIONS

During the year the School provided services and catering goods to St John’s (Leatherhead) Enterprises Ltd in support of the hire of facilities, and also paid invoices on behalf of St John’s (Leatherhead) Enterprises Ltd where these invoices were issued in the name of the School. These were recharged at cost. Total recharges during the year amounted to £nil (2021: £nil).

At the year-end St John’s (Leatherhead) Enterprises Ltd decided a donation of £94,029 (2021: £51,881) would be paid to the School.

At the year-end St John’s (Leatherhead) Enterprises Ltd owed £84,613 (2021: £37,881) to the School.

25. PENSION SCHEMES

Teaching staff

The School participates in the Teachers’ Pension Scheme (England and Wales) (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,121,562 (2021: £1,112,543) and at the year end £140,088 (2021: £127,804) was accrued in respect of contributions to this scheme.

The Teachers' Pension Scheme (TPS or scheme) is a statutory, unfunded, defined benefit occupational scheme, governed by the Teachers' Pensions Regulations 2010 (as amended), and the Teachers’ Pension Scheme Regulations 2014 (as amended). These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership.

Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS.

The Teachers’ Pension Budgeting and Valuation Account

Although members may be employed by various bodies, their retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and Public Service Pensions Act (2013) and are paid by public funds provided by Parliament. The TPS is an unfunded scheme and members contribute on a ’pay as you go ‘basis – contributions from members, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Acts.

The Teachers' Pensions Regulations 2010 require an annual account, the Teachers' Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension increases). From 1 April 2001, the Account has been credited with a real rate of return, which is equivalent to assuming that the balance in the Account is invested in notional investments that produce that real rate of return.

36

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

25. PENSION SCHEMES (continued)

Valuation of the Teachers’ Pension Scheme

As a result of the latest scheme valuation employer contributions were increased in September 2019 from a rate of 16.4% to 23.6%. Employers also pay a charge equivalent to 0.08% of pensionable salary costs to cover administration expenses.

The next valuation is expected to take effect in 2023.

A copy of the latest valuation report can be found by following this link to the Teachers’ Pension Scheme website: https://www.teacherspensions.co.uk/news/employers/2019/04/teachers-pensions-valuationreport.aspx

Scheme changes

In December 2018, the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, rejected the Government’s application for permission to appeal the Court of Appeal’s ruling and subsequently referred the case to an Employment Tribunal to determine a remedy which will need to be offered to those members of the two schemes who were subject of the age discrimination.

Since then, claims have also been lodged against the main public service schemes including the TPS. The Department has conceded those in line with the rest of the government. In July 2020 HM Treasury launched a 12-week public consultation which will provide evidence to support the delivery of an appropriate remedy for the affected schemes, including TPS.

A final remedy will be determined once the results of the consultation are established.

In December 2019, a further legal challenge was made against the TPS relating to an identified equalities issue whereby male survivors of opposite-sex marriages and civil partnerships are treated less favourably than survivors in same-sex marriages and civil partnerships. The Secretary of State for Education agreed not to defend the case. In June 2020, the Employment Tribunal recorded its findings in respect of the claimant. DfE is currently working to establish what changes are necessary to address this discrimination.

Any impact of these events will be taken into account when the next scheme valuation is implemented. This is scheduled to be implemented in April 2023, based on April 2020 data.

37

THE SAINT JOHN’S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

25. PENSION SCHEMES (continued)

Non-teaching staff

The School operates a Stakeholder pension scheme for its non-teaching staff. This is a unit-linked defined contributions scheme managed by Legal & General, under which the School contributes 5% and the employee a minimum of 3% of pensionable pay. Employer contributions totalling £96,851 (2021: £172,336) were paid in respect of this stakeholder pension scheme during the year.

The St John’s Foundation School Pension and Assurance Scheme

The information set out in this note below relates only to the St John’s Foundation School Pension and Assurance Scheme (“the Scheme”), the assets of which were held separately from those of the School.

Actuarial valuation

The Scheme was funded by the employer in accordance with the recommendations of an independent qualified actuary on the basis of triennial valuations. The most recent of these valuations was made on 1 January 2017 and was conducted under the Pensions Act 2004. This legislation requires trustees to achieve a defined Statutory Funding Objective, (“SFO”) and to hold sufficient and appropriate assets to meet the Technical Provisions. The SFO valuation in January 2017 indicated that the assets (excluding annuities purchased in respect of secured pension rights), the market value of which was then £3,867,000, represented just over 113% of its liabilities. This actuarial valuation on an ongoing basis indicated a surplus of assets compared to liabilities of £739,000. This surplus is calculated using different assumptions to those required under FRS 102, details of which are set out below.

The formal triennial valuation as at 1 January 2017 indicated that the Scheme was in surplus as a result of which, following consultation between the Trustees and the employer, a new Schedule of Contributions was agreed with effect from 1 January 2018. This confirms that the first £200,000 of expenses will be payable from the assets of the Scheme, after which, the Employer will pay all scheme expenses, including those related to administration and actuarial services, in addition to the PPF levy.

During 2018-19 the pension scheme Trustees, with the agreement of the School’s Governors as Sponsoring Employer, took the decision to purchase annuities for the remaining members of the scheme with a view to effecting a buy-out. The purchase of annuities took place prior to 31 July 2019, resulting in an accounting loss on settlement of £1,059,000 for that year which had no impact on the School’s cash reserves. It was anticipated that the buy-out would be completed during 2019-20, but this was delayed as a result of COVID-19 and it occurred in March 2021.

38

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

25. PENSION SCHEMES (continued)

Net interest credit
Administration cost
Total pension charge recognised in the Statement of Financial Activities
Actuarial (losses) / gains immediately recognised
Amounts recognised in the balance sheet
Present value of funded obligation
Fair value of plan assets
Pension scheme asset
Change in benefit obligation
Benefit obligation at 1 August 2021
Current accrual cost
Interest cost
Actuarial (gains) / losses
Actuarial gains due to experience
Liabilities extinguished on settlement
Benefits paid
Benefit obligation at 31 July 2022
Change in plan assets
Fair value of plan assets at 1 August 2021
Interest on assets
Actuarial (losses) / gains
Employer contributions
Expenses paid by scheme
Employee contributions
Assets extinguished on settlement
Benefits paid
Fair value of plan assets at 31 July 2022
Actual return on plan assets
Funded status and net amount recognised		 2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2021
£
4,000
(114,000)
(110,000)
(384,000)
-
-
-
3,285,000
32,000
(250,000)
(15,000)
(3,017,000)
(35,000)
-
3,779,000
36,000
(649,000)
-
(114,000)
-
(3,017,000)
(35,000)
-
(649,000)
-

39

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

25. PENSION SCHEMES (continued)

Fund assets
The weighted average asset allocation at the year-
end was as follows:
Asset category
Equities
Govt bonds
Annuities
Cash
Principal Actuarial Assumptions
Discount rate
Inflation (RPI)
Salary increases
Pension increases in deferment – accrued before 6 April 2009
Pension increases in deferment – accrued after 6 April 2009
Pension increases in payment – members joining after 1 January 1995
Pension increases in payment – members joining before 1 January 1995
Mortality table
Mortality improvements
Commutation
Life expectancy at age 65 of male aged 65
Life expectancy at age 65 of male aged 45
Scheme closed to future accrual on 1 March 2016.		 Plan assets
2022
2021
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
2022
2021
n/a
2.10%
n/a
3.30%
n/a
0.00%
n/a
3.30%
n/a
2.50%
n/a
3.20%
n/a
5.00%
n/a
S2NA series
n/a
1.25%
n/a
75% of
pension
n/a
22.1 years
n/a
23.4 years		 Plan assets
2022
2021
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
2022
2021
n/a
2.10%
n/a
3.30%
n/a
0.00%
n/a
3.30%
n/a
2.50%
n/a
3.20%
n/a
5.00%
n/a
S2NA series
n/a
1.25%
n/a
75% of
pension
n/a
22.1 years
n/a
23.4 years
n/a
2021
2.10%
3.30%
0.00%
3.30%
2.50%
3.20%
5.00%
S2NA series
1.25%
75% of
pension
22.1 years
23.4 years
Five year history
Benefit obligation at 31 July
Fair value of plan assets at 31 July
Asset		 2022
£
-
-
-		 2021
£
-
-
-		 2020
£
(3,285,000)
3,779,000
494,000		 2019
£
(3,707,000)
4,176,000
469,000		 2018
£
(3,455,000)
4,689,000
1,234,000

40

THE SAINT JOHN’S SCHOOL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

26.
COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
Income from:
Donations and legacies
19,186
Charitable activities: School fees
17,495,842
Other income from charitable activities
665,823
Other trading activities
57,248
Investments
19,578
Other income
293,698
Total income
18,551,375
Expenditure on:
Raising funds
30,474
Charitable activities
18,211,696
Total expenditure
18,242,170
Net incoming funds from operations
before investment gains
309,205
Net gains / (losses) on investments
43,834
Net income
353,039
Transfers between funds
100
Other recognised (losses) / gains:
Actuarial gains on defined benefit pension
schemes
(384,000)
Net movement in funds
(30,861)
Reconciliation of funds
Total funds brought forward
27,512,850
Total funds carried forward
27,481,989		 Restricted
funds
£
59,005
-
-
-
20,277
-
79,282
10,969
71,338
82,307
(3,025)
45,392
42,367
(100)
-
42,267
633,102
675,369		 Total
funds 2021
£
78,191
17,495,842
665,823
57,248
39,855
293,698
18,630,657
41,443
18,283,034
18,324,477
306,180
89,226
395,406
-
(384,000)
11,406
28,145,952
28,157,358

41