HalLiford
School
SHEPPERTON
Halliford School Limited
Governors, Report
and
Financial Statements
For the year ended 31 August 2024

Contents
Legal and administrative details
Governors, Report......................................................................................................................
Vision, Mission Statement, Aims and KeyActivities..................................................................
Governance and Management........................................................................,.........................
Statement of Governors, Responsibilities..................................................................................
Strategic Report .
.10
Independent Auditorfs Report to the members of Halliford School Limited
.18
Statement of Financial Activities........................................................,..............................
.21
Balance Sheet...........................................................,......
.22
Statement of Cash flows.
.23
Notes to the Financial Statements...........................................................................................24

Legal and administrative details
Full name and registered address of the charity
Halliford School Limited
Russell Road
Shepperton
Middlesex
TW17 9HX
Charity status
Founded in 1921
Halliford School was privately owned until December 1956 when it was incorporated as a company
limited by guarantee, where the liability of the members is limited to £1, and not havin8 share capital.
Re-named as Shepperton Grammar School Ltd the School retained this name until December 1971 when
it reverted to Halliford School Ltd.
The governing document of Halliford School Ltd are the Articles of Association which were adopted by
th
Special Resolution dated 25 ' January 2022 and approved by the Charity Commission 28 April 2022.
Charity registration number- 312090
Company registration number- 00575324.
Governors and Directors of the Company
The following were both Governors of the School and Directors of the Company during the period of
this report:
Mr K.H. Woodward
Mr C.S. Squire
Mr M.A. Crosby
Mr D. C. Davison
Mr B.T. Harris
Mrs P. A. Horner
MrA. Lenoel
Dr M. Sachania
Miss A. Wallace
Mrj. Sharp
Ms A Stark
Mr S Rabett
Chairman and elected in the day-to-day management of the school.
Deputy Chairman
Resigned 31" August 2024
th
Appointed 19 March 2024
th
Appointed 19 March 2024
Governors, Report and Financial Statements 31 P a g e

Headmaster and Senior Staff
Mr J Davies
Headmaster
Mrs E Sanders
Bursar, Clerk to Governors and Company Secretary
Mr R Fulford
Deputy Head Academic
Mrj Norman
Deputy Head Pastoral
Mr S Slocock
Assistant Head Co-curricular
Mr A Carroll
Head of Sixth Form
Mr M Shales
Director of Student Welfare
Mr G Boyes
Director of Teaching and Learning
Professional advisers
Bankers
National Westminster Commercial Bank
280 Bishopsgate
London
EC2M 4RB
Auditors
Cooper Parry Group Limited
Aissela
46 High Street
Esher
Surrey
10 9QY
Legal
Veale Wasbrough Vizards
Orchard Court
Orchard Lane
Bristol
8SI 5WS
Governors, Report and Financial Statements 4 | P a g e

Governors, Report
The members of Halliford School Governing Body present for the year ended 31" August 2024 their
Annual Report under the Charities Act 2011, incorporating their Governors, and Strategic Report under
the Companies Act 2006, together with audited financial statements of Halliford School.
The financial statements comply with the Charities Act 2014, the Companies Act 2006, the
Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective l January 20191.
Vision, Mission Statement, Aims and Key Activities
Vision of Halliford School
To be acknowledged as the small independent school of choice for 11-18 year olds, where we are proud
to belong to a thriving, happy and aspirational community that is committed to each student as an
individual.
Mission Statement
Halliford School is based on strong family values where we know and respect every student as an
individual. We encourage and support Hallifordians to flourish and become the best version of
themselves that they can possibly be.
We aim for excellence by being academically ambitious but at the same time academically sensitive.
We inspire Hallifordians within a community that is founded on high quality teaching and learning,
outstanding pastoral care and first-class sporting, cultural and co-curricular opportunities.
Halliford School is a boys, school for eleven to eighteen-year olds with a co-educational Sixth Form.
Aims
To provide a stimulating learning environment for boys 11-18 and girls 16-18 where we promote
academic excellence and provide opportunities to realise the full potential of every individual
to become the best version of themselves
To provide a warm-hearted family ethos in which every student is known and valued as an
individual
To enable each individual to discover and develop his/her talents, character, creativity,
resilience and ability to work within a team by providing a balanced and wide-ranging co-
curricular programme
To create an environment in which all members of the school community feel supported and
valued and able to contribute positively to the lives of others by providing a framework of
outstanding pastoral care
To equip our students for the world they will encounter beyond Halliford School
Governor5, Report and Financial Statements 5 | P a g e

Values
Our students and staff identified the following values as being at the heart of what it means to be a
Hallifordian..
Intellectually curious
Respectful
Warm-hearted
Team players
Creative
Resilient
As an educational charity, the parents of our pupils have the assurance that all the income of the School is
used for educational purposes as described by the following objectives of the charity:
To establish and maintain an independent day School for the education of both boys and Eirls,
To establish or acquire as a going concern and carry on or manage elsewhere, any subsidiary, affiliated
or other schools for the education of boys and girls in connection with the above mentioned School,
and to supply to such pupil's instruction, together with physical, moral and religious tra ining, and to
provide accommodation for Staff and pupils being boarded, and meals forthose taking meals at school,
but so that each such school shall be carried on as an educational charity.
As a charity the School benefits from some tax exemptions on it5 educational activities and investments
and is entitled to an 80% reduction on business rates on all property used for charitable purposes.
These financial benefits indirectly help us to sustain our bursary policy and provide a means by which
we can educate some children whose families would otherwise not be able to afford the fees and
therefore access the education offered.
Key activities
The Governors understand the requirement to deliver a rich and broad educational experience to all pupils.
Through their strategic direction, governance and risk management they seek to ensure the School has both
the resources and operating framework to enable it to provide a friendly, family orientated and supportive
environment in which all pupils are known as individuals by most, if not all, staff. They are equally valued and
supported regardless of race, religion, sender and disability.
The School works to ensure all pupils are given the same opportunity to learn and develop and, in so doing,
provide a wide array of sUPPOrt to pupi15 whether they face individual challenges to their ability to learn or are
potentially high achievers.
We offer a number of Academic, Music, Art, Drama, STEM and Sports Scholarships for entry to Year 7 and the
Sixth Form. Scholarships are awarded on the basis of the individuals exceptional {academic, musical, artistic
and sporting) ability and potential. Candidates are encouraged to apply for a mean5 tested bursary to
supplement their scholarship if financial constraints are a consideration. We advertise these on our School
website.
Bursary awards, which are available to all who meet the Schools, general entry requirements, are made solely
on the basis of parental means or to relieve hardship (for example in the case of redundancy) or where a
student's education and future prospects would otherwise be at risk. Bursary awards can be given up to IOO¥fj
fees discount. Our School does not have a large endowment fund and in funding our awards we have to be
mindful that we must ensure a balance between fee paying parents, many of whom make considerable
personal sacrifice5 to fund their children's education, and those benefiting from the award.
Our School welcomes pupils from all backgrounds; however, we need to be satisfied that we will be able to
educate and develop a prospective pupil to the best of their potential and in line with the general standards
achieved by their peers. To that end entrance interviews and assessments are undertaken to satisfy both
ourselves and parents that potential pupi15 could cope with the pace of learning and benefit from the education
Governors, Report and Financial Statements 61 P a g e

provided. An individual's economic status, ethnicity, religion or disability do not form part of our assessment
process and to help with the continuity of education in families a discount is offered for parents who have
more than two children in the School.
This year the total value of awards for scholarships, bursaries and staff remission was £594,225 {2023
£540,151). During the year, the school awarded short-term financial assistance of £55,25312023: £44,311)
We are an equal opportunity organisation committed to a working environment that is free from discrimination
and will make reasonable adjustments to meet the needs of staff or pupils who are, or become, disabled.
In summary, the role of our School is to provide pupils with a range of educational opportunities within which
they can fully realise their individual potential. Our aims are for the public benefit, and we have considered the
Charity Commission's Guidance.
Governance and Management
Board of Governors
The number of Governors elected to the Board must be not less than 8 and not more than 20, Governors are
encouraged to attend seminars organised by the Association of Governing Bodies of Independent Schools and
other accredited organisations as appropriate. Upon election to the Board of Governors new Governors visit
the School, are briefed by both the Headmaster and the Bursar, and are provided with a new Governors,
Information Pack containing information about the School, Governing Body information, School policies and
training available.
The Governors are the company directors and trustees of the Charity and have control of the Charity and its
property and funds. On appointment as a Governor, a Governor shall automatically become a Member of the
Charity. The normal term of office for a Governor shall be four years, provided that the Governors may
determine that the Governor shall in fact retire at the end of a meeting of the Board of Governors held within
six months of the end of the Governor's term of office.
Governance
The Board of Governors continue to keep the School's activities under review and in particular, risk
identification and, where appropriate, mitigation {including Insurance coverl and the effectiveness of internal
controls. The Board of Governors meet once per term to review the reports of the sub-committees and
determine both the strategic direction and policies of the School. In addition, the Executive Committee has
powers to meet and reach decisions on issues requiring urgent attention.
Sub-committees for the financial year ended on 31 August 2024 were:
Staffing and Academic
Finance
Health and Safety
Marketing
Safeguarding and Welfare
The Governors and the Senior Management Team comprise the key management personnel of the charity in
charge of running and operating the School on a day-to-day basis. All Governors give their time freely and no
director received remuneration in the year.
Governors, Report and Financial Statements 7 | P a g e

The pay of all staff is reviewed annually and the Governors benchmark against pay levels in other independent
schools of a similar size.
Related Organisations
Halliford School has a wonderful and supportive group of parents who arrange various fundraising events for
the School. They are run as a separate organisation and any funds raised by the PTA are donated to the School.
The School assists with Gift Aid claims.
Governors, Report and Financial Statements 81 P a g e

Statement of Governors, Responsibilities
For the year ended 31 August 2024
The Governors (who are also directors of Halliford School Limited for the purposes of company lawl are
responsible for preparing the Governors, Annual Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting
Practice).
Company law requires the Governors to prepare financial statements for each financial year, which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application of
resources, including the income and expenditure, of the charitable company for that period. In preparing these
financial statements, the Governors are required to:
select suitable accounting policies and then apply them consistently;
obseNe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any time the financial position of the charitable company and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In so far as, the Governors are aware:
There is no relevant audit information of which the charitable companVs auditor is unaware; and
The Governors have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditor is aware of that information.
Governor5 Report approved and signed on its behalf by
K H Woodward
Chairman
Date
ZcL+.
Governors, Report and Financial Statements 9 | P a g e

Strategic Report
Achievements and performance
In the year ending 31" August 2024 pupils on roll in School was 459. The termly core fees, before any deduction
of any means tested bursaries and scholarships for the year ending 31 August 2023 was £6,950.
Academic
Students and staff worked incredibly hard this yearto prepare for the return to formal Public Examinations sat
under standard examination conditions. We were delighted that with the excellent support of our staff and
strong cohort of students we were able to celebrate the best GCSE results ever recorded in our history as a
school. The value-added results for our students placed us in the top IO% of schools nationally which is a
remarkabSe achievement for a school of our size.
GCSE Examination Results
GCSE
2019
2020
2021
2022
2023
2024
Candidates
73
73
75
70
75
76
% Pass Grades 9-4 IA'_C)
95
99
97
97
95
99
A Level Examination Results
We were delighted to see our students achieve a further set of excellent results with 55% of all grades at an
A. _ B. This is a superb achievement given the broad range of academic abilities we welcome at Halliford School.
These grades also enabled a record number of 94Yo of students able to go on to the University orApprenticeship
routes of their choice. Over 50% of students are moving on to study at the prestigious Russell Group
Universities this year as a result of their incredible results. Our value-added scores for this cohort place Halliford
School in the top 12Yo of independent schools nationally, a testament to the quality of teaching on offer at our
school.
A Level
2019
2020
2021
2022
2023
2024
Candidates
35
33
37
49
43
35
% Pas5 (Grades A'_B)
% Pass (Grades A'_El
46
66
85
60
55
55
99
loo
100
loo
99.5
99.7
Culture
Interhouse competitions throughout the school year included Interhouse debating, Creative writing, University
Challenge, Pumpkin Carving, Christmas card design, photography, dram3, rowing and Worldwide Quiz
competitions.
A team of students took part in the Schools Challenge Quiz and were thrilled to achieve some incredible results
against many of our larger local independent school competitors. with our Juniors and Intermediate teams
securing victories.
Governors, Report and Financial Statements 10 I P a g e

students took part in the UK Maths Challenge, the British Bio108y Olympiad and the UK Linguistics Olympiad.
A number of students took part in the Elmbridge Literary competition, with one student awarded a first place
and one awarded a second place prize, and 4 student commendations. Teams of Year 9 MFL students took
th
Part in the GCHQ National Language Competition ranking 185 out of 3038 in the country.
A team of student5 took part in the Rotary Youth Speaks competition, where they won the Regional Heat and
then the Regional Final, demonstrating their adeptness at articulating complex ideas with clarity and
conviction. A win in the District final meant that they qualified for the National Final, etching their names in
Halliford School's history books.
Drama
During the Autumn Term all students in Year 8 took part in an outstanding 'Shakep5eare-ience' evening.
In the Spring Term, drama students of all ages either took to the stage or supported backstage the
magnificent production of Les Miserables to the delight of sold-out audiences.
Halliford's first ever Talent show followed a few weeks later, giving students the opportunity to show off a
range of acts ranging from singing and dancing to drawing and magic and a little of everything in between.
LAMDA Students took exams in the Spring Term receiving numerous distinctions and merits.
The Summer Term saw the introduction of Halliford's Senior Play where students from Year 9 upwards
performed the play DNA by Dennis Kelly.
Music
The music department works incredibly hard to offer a wide range of musical opportunities to students and
in the Winter term were proud to entertain audiences at the House Music Competition, Winter Concert,
Informal lunch time concerts and various Carol Services.
In the Spring Term, competition was fierce in the annual Battle of the Bands competition which featured
musicians from all year groups, inspiring students to perform at the very highest of levels. The Summer Term
saw the return of the Summer Concert held outdoors in the school courtyard where students, staff and Old
Hallifordians performed.
Several music student5 sat Instrumental exams, including the ABRSM, receiving merits and distinctions.
Events and School Trips
Events and Trips are an integral part of the education offered by the school, and a selection of trips covering
academic, cultural, and sporting activities included the following:
European Day of Languages
Year 8 Trip to Hampton Court palace
Computer Science trip to the MINI plant in Oxford
A-Level Geography Trip to Royal Geographical Society
French Exchange Trip
German Exchange Trip
Lower Sixth Team Building Afternoon
Physical Theatre Drama workshop
Music Tour to 5orrento
Ski and Snowboarding Trip to Passo Tonale
Classics Trip to Greece
Sixth Form Politics Trip to Parliament and the Supreme Court
D-Day Commemoration visit to Normandy
De5iEn and Technology trip to the Design Museum
Governors, Report and Financial Statements 11 I P a g e

A-Level Biology Field Trip
EPQ Poster presentation evening
Sixth Form History and French trip to Paris
Year 8 Religious Studies Trip to Khalsa Jatha Gurdwara
Medical Ethics workshop for PHA students
Lower Sixth History visit to the National Archives
Year 10 German students visit to Goethe Institut
Onatti Production Company performance of DerBobysitter performed at Halliford school and attended
by other local schools
Year 7 trip to the Story Museum
Academic Collaboration Week
Mental Health Awareness Week
Year 7 Trip to France
Year 8 Trip to Cuffley Active Learning Centre
Year 9 Trip to Ypres
Year 10 Trip to Rockley Point in Dorset
Year 11 Celebration Day
Upper Sixth Celebration Day
Year 10 GCSE Geography Field Trip
Music Technology Trip to Air Studios in Hampstead
Art Exhibition
Speech Day
Duke of Edinburgh
This continues to grow in popularity each year and over 90% of Year 9 students took part in the Bronze
Practice and the Assessed Expeditions in the South Downs. The Silver Practice Expedition in the South Downs
and the Assessed Expedition in the New Forest was completed by 22 students in Year 10. Seven students
took part in the Gold Practice Expedition in the Peak District and the Assessed Expedition in the Lake District.
Sport and Co-curricular clubs
Halliford School is proud to be able to offer our students a wide variety of learning experiences outside the
classroom to support and enhance the learning that goes on inside the classroom. We believe these are an
invaluable part of our students, education and strongly encourage students to participate.
The Autumn term was extremely busy, full of lunchtime and after school practices, Ibstock Place Football
tournaments, Independent Schools association golf, Rugby fixtures, Middlesex County age group Rugby
festivals and interhouse competitions. Halliford students attended sporting fixtures in outstanding numbers
and Halliford continues to provide a huge amount of opportunity and success on the sports field for a school
of this size. 90+ Rugby fixtures were played in the Autumn term.
The Spring term saw outstanding numbers for football training and fixtures. Halliford consistently fielded A
and B teams and saw a growing fixture list for C and D teams as well. Cricket nets training resumed in
preparation for the Summer Term. Other sporting activities included Rugby Sevens, Inter-house cross-country
and Inter-house football.
Cricket in the Summer Term is going from strength to strength requiring a huge level of commitment from staff
and students to overcome the inconsistency of the weather. This included getting 4 teams out in Year 7,
Governors, Report and Financial Statements 121 P a g e

Halliford's philosophy of 'sport for all, was evident in the numbers of students who take part in some form of
sport, whether it is school matches, Inter-house competitions or simply a modified version to get better at one
of the skills required.
Halliford took part in the National Knockout Golf tournament at Burhill and the Plate Competition at Fulwell.
Halliford also competed in the National Golf Competition at the Warwickshire Golf and Country Club. Two
students have also represented the school in two junior competitions.
Sports Day was a fantastic highlight of the Summer Term, achieving a true mass participation element.
Currently we offer a wide selection of lunchtime clubs and after school clubs which are all well attended from
every year group. These range from the sport sessions such as rugby, football, tennis and golf, to clubs such as
Photography Club, Lego Club, Aviation club and Touch typing.
Public Benefit
Halliford School takes its responsibilities as a Charitable Trust very seriously. The Governors are fully
committed to making education open to all children regardless of family means. Governors continue to place
a great emphasis on means tested bursaries, this year the school awarded £398,235 in the form of bursaries
and financial assistance to 40 students12023'. £308,311 to 361.
Halliford School has a Iways taken and will continue to take its responsibilities as a charitable trust very
seriously. The school will continue to contribute by maintaining current links and creatin8 new links within
the community.
Over the past year, Halliford School has:
Held a Harvest Festival in October collecting over 20 crates of food, cleanin8 products and toiletries which
was donated to St. Saviourfs in Sunbury and the Greeno Centre in Shepperton,
Laid a wreath at the Remembrance Sunday Service at the Shepperton War Memorial, and held a
Remembrance Service at Halliford School where the whole community were invited
Took part in Cut your Carbon month, where students were encouraged to take part in a range of activities.
The top completed activities were Ditch The Drive, Love your Leftovers and Pass me On
Took part in the Rotary Christmas Shoebox Campaign
Provided a venue for Sunbury and Shepperton Local History Society meetings, Sunbury Ferry meetings and
Rotary Club Prestige Lecture
Provided cricket nets for local cricket club
Held a Christmas Jumper day
Took part in Carol singing at a local garden centre and a local care home
Invited local primary schools to the school production
Provided car parking for the Shepperton Fair
Held a silent auction raising over £350 for the White Lodge Centre in Chertsey
A number of students took part in an outreach programme at a local Primary School
Donated 40 laptops to Level Up, a project that provides refurbished laptops for children and young people
who need them for home study.
Contributions to Education in the Community
Two members of staff are members of the Governing Body at local independent schools.
Governors, Report and Financial Statements 131 P a g e

Charity Fundraising
Charity is at the heart of our ethos here at Halliford School and every year we endeavour to raise funds for
various local a nd national causes.
Fundraising organised by the Charity Prefects included the following:
Movember charity, a charity that aims to raise awareness of men's health issues, including mental
health and suicide prevention, prostate cancer, and testicular cancer. In total, students raised £9,021
through events onsite as well as from online donations, making Halliford the 3, highest fundraiser
nationwide amongst the 32,193 schools who take part in the event.
Save the Children Christmas Jumper day raised around £700
The Battle of the Bands concert raised £710 for Comic Relief
Charity Week- Students led a huge variety of events from the newly created Human Fruit Machine,
to the ever-popular Chilli Challenge, as well as many sports competitions. Students were delighted to
have raised just over £2,000 to support the work of Comic Relief.
Students raised over £500 during Mental Health Awareness week for the Mental Health Foundation
Financial Overview
Financial Results
The financial statements show net income from unrestricted funds for the year amounted to £998,902 {2023".
£778,904)
Unrestricted net cash inflow from operating activities for the year was £5,096,90712023: £1,559,731).
The School's total unrestricted reserves at the year-end including designated fund5 {excluding the revaluation
reserve} were £12,447,585 {2023: £10,963,724).
Summary of the year
Income from charitable activities of £10,447,930 (2023: £9,491,776) has increased due to additional students.
School services costs of £5,506,84412023: £4,906,028) have increased due to additional staffing costs and
increased departmental resource costs.
Support Costs totalling £3,622,237 (2022: £3,366,424) have risen due to additional student and staffing needs.
Reserves Policy
In balancin8 the needs of current and future beneficiaries Governors consider how the School's reserves can
best be utilised to meet the likely challenges and opportunities in the medium to long term and have agreed
that the primary objectives for the reserves are:
In the event of a crisis, be able to sustain education provision for those pupils within an examination phase
until their examinations have been completed.
To improve the School environment.
School reserves are made up of Unrestricted Funds, Designated Funds, Restricted Funds and an Endowment
Fund.
Governors, Report and Financial Statements 141 P a g e

Unrestricted Funds
Unrestricted funds must be at least enough to support 3 months of operating costs which would act as a buffer
to ensure the School can fund continuity of education in a crisis. The unrestricted reserves considered to be
sufficient for the immediate needs are approximately £1,696,459. This is kept under constant review.
Designated Funds
The Governors designate any reserves in excess of the £1,696,459 in order for the school to continue to invest
in the improvement of educational, sport and co-curricular facilities offered. These designated funds represent
unrestricted funds which are retained to finance the freehold property and fixed assets as well as earmarked
for future capital projects such as further development of school buildings, grounds and additional sports
facilities. The Governors review the finances, budgets and spend of the School on a termly basis and as part of
the effective stewardship of the School.
The construction of the new Drama Studio and The Forum commenced in Summer 2024 and opened November
2024. During the summer, Matrons Room was demolished, and a newly refurbished wellbeing area was created
in the Cottage. The internal refurbishment and creation of additional catering space took place as well as the
refurbishment of the John Crook Theatre which was partially funded by a donation from the Halliford School
PTA. This entire capital project has been funded from additional borrowing and an allocation of desi8nated
funds which total £861,771.
Restricted Funds
These funds are held separately by the School and have been provided for specific items such as prizes, awards,
bursaries and scholarships. Total restricted funds are £83,365 (2022: £83,887).
Endowment Funds
The endowment fund is held to fund education at the discretion of the Governors, Total endowment funds are
£104,32312022: £101,837).
The total funds held are £15,415,959 (2023: £13,302,606).
Future Developments
The Governing Body along with the Senior Management Team strive to maintain pupil numbers and financial
reserves and ensure there is sufficient investment and development in the school in order for it to continue in
the foreseeable future. The aim is to reinvest wherever possible financial surpluses raised in order to improve
the education of all students by providing the best teaching and sporting facilities and significant resources
across the whole school site. The school must continue to reinvest as much financial surplus as possible by
maintaining pupil numbers in a very competitive market as well as Satisfying the bank covenants.
The new construction attached to the John Crook Theatre completed November 2024 and this additional
permanent space will enable the school to provide teaching, dining, assembly and meeting facilities for the
School, parents and the local community.
The Governors will keep under review the later phases of the School masterplan which was created in 2020.
Governors, Report and Financial Statements 151 P a g e

Principal risks and uncertainties
The Governors are responsible for overseeing the risks faced bythe School. Risks are kept under regular review,"
appropriate controls are established throughout the year. The review covers the major risks and uncertainties
common to all independent schools and the main risks currently are introduction of VAT on school fees which
leads to concerns over school finances, pupil numbers and the Browing number of school closures.
The Senior Management Team reviews and updates the risks appropriate to them and ensure action is taken
to mitigate any negative impact of risk.
Risks for an independent school
Changes to the political landsca pe following
the general election in July 2024 will affect
the School financially, strategicallyi and
operationa Ily.
Mitigation
Parental Affordability sunley was carried out in January
2024.
Through financial review and scenario modelling the school
may reduce net fees from l January 2024.
Introduction of VAT @ 20% on school fees
from l January 2025. VAT will raise fees
inevitability pricing out some parents whose
children will move to the state sector.
Reassessment of the school's operating model and long-
term strategic reviews.
Governors are controlling costs where possible and tightly
controlling any future capital spend, They are continuing to
monitor possible challenges which arise to maintain a level
of surplus funds in order to safeguard the future of the
school.
As a consequence of any issue there is a risk of reputational
damage. The School maintains effective policies to identify
and minimise any risks,
Recruitment and retentions of high-quality , New Academic Pay Policy came into effect in September
teaching and support staff.
2024 following a collective consultation in 2023. The new
scale is fair, transparent and competitive allowing more
Labour market remains tight and therefore I reward through threshold progression.
the attraction of new personnel has become
difficult. Reliance on supply agencies.
Removal of mandatory business rate relief
from April 2025. The financial impact of this
single change is c.£180k annually.
Reputational Damage
Continue to benchmark competitors using eternal pay
reviews conducted by ISBA, AGBIS & Baines Cutler surveys.
Inability to attract support staff in all areas
particularly domestic roles.
A new DC Scheme introduced to staff from September 2024
TPS contribution increase to 28.68% and ! following collective consultation whilst allowing TPS to
further revaluations due in the coming, remain.
years.
i Maintaining or improving student
recruitment in both Senior School and Sixth
i Form.
Focus in the USP of the School, resource, and market
effectively.
Arising principally from introd uction of VAT,
economic uncertainty; parental
employment, affordability and the strong
Increase offering to students in music, art, drama and sport.
Increase co-curricular offering with additional external
providers before and after school.
Governors, Report and Financial Statements 16 | P a g e

competition from local Independent and
State Schools.
Continue to invest in the facilitie5 available.
Potential lag on pupil numbers due to
parental perceptions on affordability of an
independent education.
I Parental confidence reduced in investment I
into independent education.
Pupil Admissions in Sixth Form including girls Improve the retention of internal candidates by offering
joining at 16 years.
earlier / more scholarships.
Increase lecture programme and careers events.
Improve and expand current Open Evening offering and
creation of new Sixth Form events for new applicants.
Failure to comply with legislation in
particular Safeguardin8, Health and Safety
i and Employment laws.
The School has policies and procedures to reduce the risk
and maintain compliance and includes termly Governor
overview.
The School must provide a safe environment
for all students. Safeguardin8 is a growing
risk to the sector.
DSL Team has increased in size and are provided with
support and training.
Increasing cyber risk in school and the
possibility leading to loss of data, potential
data breach and fraud.
Outsourced IT provision providing robust knowledge and i
skills, software experience and data storage/ recover
facility.
Additional training for staff in information security and data
protection.
Strategic Report approved and signed on its behalf by
dward
Chairman
Date
Governors, Report and Financial Statements 171 P a g e

Independent Auditorfs Report to the members of Halliford School Limited
For the year ended 31 August 2024
Opinion
We have audited the financial statements of Halliford School Ltd (the 'charitable company,) for the year ended
31" August 2024 which comprise Statement of financial activities, Balance Sheet, Statement of Cash flowsand
notes to the financia I 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:
give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its
incoming resources and application of resources, including its income and expenditure, for the year
then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (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 charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the fina ncial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individua Ily or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the trustees, annual report, other than the
financial statements and our auditorfs report thereon.The trustees are responsible for the other
information contained within the annual report. Our opinion on the financial statements does not cover the
other information and, except to the extent otherwise explicitly stated in our report, we do not express any
form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify
such material inconsistencies or apparent material misstatements, we are required to determine whether this
Governors, Report and Financial Statements 18 | P a g e

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 Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of directors, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit: or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemption in preparing the trustees
annual report,
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on page 9, the trustees (who are also
the directors of the charitable company for the purposes of company law) are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal
control as the trustees determine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company'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 charitable company or to
cease operations, or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
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.
Irre8ularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry
in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and
regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding
compliance with laws and regulations. We discussed amongst the audit team the identified laws and
regulations, and remained alert to any indications of non-compliance.
During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a
material misstatement in the financial statements. including, but not limited to, the Companies Act 2006 and
Governors, Report and Financial Statements 19 | P a g e

UK tax legislation. Our tests included agreeing the financial statement disc105ures to underlying supporting
documentation and enquiries with management.
Our procedures in relation to fraud included but were not limited to: inquires of mana8ement whether they
have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team
regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We
determined that the principal risks related to posting manual journal entries to manipulate financial
performance and management bias through judgements in accoutring estimates. We also addressed the risk
of management override of internal controls, including testing journals and evaluating whether there was
evidence of bias by the directors that represented a risk of material misstatement due to fraud. Because of the
inherent limitations of an audit, there 15 a risk that we will not detect all irregularities, includ ing those leading
to a material misstatement in the financial statements or non-compliance with regulation. This risk increases
the more that compliance with a law or regulation is removed from the events and transactions reflected in
the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is
also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
htt
www.frc.or
.uk
Our-work
Audit
Audit-and-assurance
Standards-and-
uidance
Standards-and-
uidance-for-auditors
Auditors-res
onsibilities-for-aud it
Descri
tion-of-auditors-res
onsibilities-for-
audit.as
x. This description forms part of our auditorfs report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditorfs report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and the charitable compan¢s members as a body, for our audit work, for
this report, or for the opinions we have formed.
Jane Wills FCA MA
Senior Statutory Auditor
Cooper Parry Group Limited
Aissela
46 High Street
Esher
Surrey
KTIO 9QY
For and on behalf of Cooper Parry Group Limited, Statutory Auditor
Date:
Cooper Parry Group Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Governors, Report and Financial Statements 20 | P a g e

Halliford School Limited
Statement of Financial Activities
(Including income and expenditure account)
For the year ended 31 August 2024
Unrestrirted
Funds
Unrestrirted
Revaluation
Reserve
Restricted Endowment
Funds
Funds
Total Funds
Total Funds
Notes
Income and Endowmentsfrom
Donation5 & Legacie5
Investment Income
Incoming f rom chaiStable
actlvSties
Totsl Incoming Resources
61,667
210,921
62,667
213,575
13,107
86,446
3b
1,168
1.486
3c
10.447,930
10,447,930
9,491,776
10,720,518
1,168
10.n4,172
9,591,329
Ex
enditure on Charitable
Activities
School Services
Support Costs
Bursarles and Scholarshlps
Total Resources Expended
3d
3e
5,506,629
3,620,762
594,225
9,721.616
215
1,475
5,506,844
3,622,237
4.906,028
3,366,421
S40,￿1
8,812.6LMJ
9,723,3C6
Net Income{expenditurel and
net Movement in funds forthe
998,902
15221
i.LXW).866
vear
Transfer between funds
Galns/llosse51 on revaluation
of flxed assets
192,3401
92,340
577,298
535,188
1,112,486
Netmovementin Funds
Total Funds brought forward
1.483,860
10,963,725
627,528
2,153,157
5221
83,887
2.113.353
13,302.606
101,837
12,523,877
Fund Balances at 31 August 24
12.447.585 2.780.686
83.365
104.323
15.415.959
13,302,EI16
Governors, Report and Financial Statements 21 | P a g e

Halliford School Limited
Balance Sheet
As at 31 August 2024
Company Number 00575324
2023124
Restricted Endowment
Funds
Funds
2022123
Unrestricted
Funds
Total
Total
Notes
Flxed A55ets
Tan8ible A55ets
sa-b
16,742.022
16,742,022
1,031
1,031
16,743,052
16,743,052
13,833,974
13,833,974
Current Assets
Stocks
Debtors
Cash at bank and in hand
sc
205,852
299,846
8,260,280
8,765,978
205,852
299,846
8,446,938
8,952,636
106.663
2￿),319
4,EQ5.593
4,972,575
sd
82,335
82,335
104,323
104,323
Llabllltles
Creditors: amounts fallin8 due
within one year
Netcurrent assets
13,232,332)
13,232,332)
11,696,543)
5,533.646
82.335
i¢J4.323
5,720,304
3.276,033
Total asset5 less current Ilabllltles
22,275,668
83,365
104,323
22,463,356
17,110,W7
Creditors: amounts fall ina due
after more than one year
{7,047,3971
17,047,397)
13,807,4(KII
Total Net Assets
15,228,271
83.365
104,323
15.415.959
I3,302,￿6
Prof it and Loss Fund
Reval uation Reserve
Funds
12,447,585
2,780,686
15,228,271
83.365
104,323
12,635,273
2,780,686
15,415,959
11,149,449
2, 153,157
13.302,606
83,365
104.323
th
The Financial Statements were approved by the Board of Governors on 19 November 2024 and Signed on its
behalf by:
K H Woodward
Chairman
Governors, Report and Financial Statements 221 P a g e

Halliford School Limited
Statement of Cash flows
For the year ended 31 August 2024
202312024
Restricted Endowrnent
Funds
Fund
XJ2V2023
Unre5trirted
Funds
All Funds
Cash flows from operatlng actlvlties:
Net Cash provided by Iu5ed inl operatin8 Ortivitie5
5,096.906
12151
1.000
5.097,691
1,559,515
Cash flows from Investlng actlvltles:
Proceed5 f rom the Sale of property. plant and
equipment
Purchase of property, plant and equipment
Interest received
Net cash provlded by {used In) Investlng artlvltles
12,361,771)
210,921
IISO.8501
0 12,361,771)
1.486
213,575
2.148.
1280,9491
86,446
194,503
1,168
1,168
Cash flows from flnancln8 artlvltle5:
Repayments of borrowing IBank loan)
Cosh inflow5 f rom new borrowing
Interest paid
Net cash provided by (used In) flnanclng artlvltles
1387,8(Kll
1,510,933
1231,2831
891,8SO
1387.8(KJl
1.510.933
1231,283
891,850
1387,80))
101
1216,582
1604,382
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at the beginnln8 of the
reporting period
Cash and cash equivalents at the end of the
reporting period
3,837,907
953
2.486
3,841,346
760,631
4,422,373
81,381
101,837
4,605,592
3,844,961
6b
s.2￿.180
82,335
104,323
8,446,938
4.EQ5.592
Governors, Report and Financial Statements 231 P a g e

Halliford School Limited
Notes to the Financial Statements
For the year ended 31 August 2024
l. Accounting Policies
a. Basis of Preparation
The financial statements have been prepared in accordance with the Accounting and Reporting by
Charities- Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
effective January 2019 - (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 1021 and the Companies Act 2006.
Halliford School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy notes.
The accounts have been prepared on a going concern basis as there are no material uncertainties
surrounding the charitable company's ability to continue as a going concern.
b. Income
Income from charitable activities relates to gross fees charged for the school year ending 31 August 2024.
Government Grants
Grant income is recognised under the performance model of Financial Reporting Standard 102.
Government grants are reco8nised in income when the 8rant proceeds are received or receivable.
c. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required, and the account of the obligation can be measured
reliably.
Expenditure on charitable activities relates to tuition costs, support costs including depreciation, school
running costs and governance costs, and bursaries and scholarships awarded to students.
d. Tangible Fixed Assets
Tangible assets excluding land and buildings are stated at cost less accumulated depreciation and
accumulated impairment losses. Cost includes the original purchase price and the costs directly
attributable to bringing the asset to its working condition for its intended use. The capitalisation threshold,
with the exception of computers, which are treated as a group asset, is £1,000.
Land & buildin
Land and buildings include freehold property and are measured at fair value at the date of revaluation less
any 5ub5equent accumulated depreciation and subsequent accumulated impairment losses.
Governors, Report and Financial Statements 241 P a g e

reciation
Land is not depreciated. Depreciation on other assets is calculated, using the straight-line method, to
allocate the depreciable amount to their residual values over their estimated useful lives, as follows:
Freehold building5
Additional building costs
Plant and machinery
IT (user interface)
IT Iservers etc)
Vehicles
50 years
15 years
5- 10 years, plus a piano depreciated over 20 years
3 years
5 years
4 years
Assets under construction are not depreciated until they are cornplete and in use.
e. Taxatlon
The School, as a registered charity, is able to take advantage of the tax exemptions available to charities.
Accordingly, there is no corporation tax payable on the net incoming resources.
f. Financial Instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a
party to the contractU31 provisions of the instrument in accordance with the substance of the contractual
arrangements entered into.
Trade and other debtors and creditors are classified as basic financial instruments and at initial reco8nition
are measured at transaction price. Debtors and creditors are subsequently measured at amortised cost
using the effective interest rate method. A provision is established when there 15 objective evidence that
the school will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at
bank and bank overdrafts which are an integral part of the school's cash management.
A financial liability in the form of a bank loan is included in creditors due within one year and creditors
falling due after more than one year. Bank loans a re initially recognised at the transaction price includ ing
transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate
method, less impairment. Details of carrying amounts, terms and conditions of the loan, security and
interest expensed in the Statement of Fina ncial Activities are included in note 51.
g. Stock
Stock held relates to IT devices available for sale to students/parents for use in education. Stock is valued
at the lower of cost and net realisable value. Stock is held as part of a charita ble activity and is provided
at a subsidi5ed cost. In line with Charities SORP IFRS 102), net realisable value is based on the service
potential provided by the item of stock and is not written down unless stock is damaged or obsolete.
h. Pension Schemes
The School participates in the Teachers, Pension Scheme {"the TPS'I for its teaching staff. The pension
charge for the year includes contributions payable to the TPS of £754,42812023". £622,223).
Governors, Report and Financial Statements 25 | P a g e

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teacher
Pensions Regulations 2010 la5 amended) and The Teachers, Pension Scheme Regulations 2014 {as
amended). Members contribute on a "pay as you go" basis with contributions from members and the
employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds
provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken
by the Government Actuarfs Department. The most recent actuarial valuation of the TPS was prepared
as at 31 March 2020 and the Valuation Report, which was published in October 2023.
Following the Mccloud judgement, the remedy proposed that when benefits become payable, eligible
members can select to receive them from either the reformed or legacy schemes for the period l April
2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that
provides them with the greater benefits, and in preparing the 2020 valuation have valued the '8reater
value, benefits for groups of relevant members.
The employer contribution rate for the TPS is 28.60%, and employers are also required to pay a scheme
administration levy of 0.08Yo giving a total employer contribution rate of 28.68%.
Non-Teaching Staff
For non-teaching Staff the School contributes 16% of annual basic pay to a stakeholder pension scheme
managed by Royal London.
Key Sources of Estimation Uncertainty and Judgement
The preparation of financial statements in conformity with the statement of recommended practice
requires management to make estimates and judgement that affect the reported amounts of assets and
liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the
reported amounts of revenues and expenses during the reporting period.
There is estimation uncertainty in calculating the bad debt provision. A full review of fees receivable is
carried out by management regularly. Whilst every attempt is made to ensure that the bad debt provision
is as accurate as possible, there remains a risk that the provisions do not match the debts that prove to be
ultimately irrecoverable.
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is
carried out by management. Whilst every attempt is made to ensure that the depreciation policy is as
accurate as possible, there remains a risk that the policy does not match the useful life of assets and that
estimates for residual amounts recoverable may differ.
Governors, Report and Financial Statements 261 P a g e

Statement of Financial Activitie5- Unrestrirted Funds
Com
aratives to SOFA from
ear
Unresirlcted
Funds
Unrestrlcted
Revaluatlon
Reservé
Resfrlctsd Endowrnent
Funds
Funds
Total Funds
Total Funds
Note5
Income and Endowments from
Donations & Le8acie5
Investrnent Income
Incorning from ¢haritable
activities
Total Incomlng Resources
13,107
84,931
13,107
3b
3,517
3c
9.491,776
9.491,776
9.018,602
9.$89.814
9.591.329
9.028.212
end5ture on Charltable
Activities
School Services
Support Costs
8ursaries and Scholarshlps
Total Resou￿e$ Expended
3d
3e
3c
4.905.813
3.364,946
540,151
8.810,910
215
1,475
4,Xfj,028
3,366,421
S40,￿1
8.812,6(Kl
4,810.831
3,118,040
S27,7Cg
8.456,$80
Net Incornelexpendlturel and
netmo¥emefit In funds forthe
907
7N729
57¥631
year
Transfer between funds
Gains/llos5esl on revaluation
ol flxed as5e15
92.340
192,3401
I1.493.￿3)
Ilet Movefflent In Funds
Total Funds brou8ht forward
871,244
10.092.481
192,340
2,245,497
778,729
12,523.877
1922,In
13.446,049
84,969
10).930
Fund Balanos at 31Auwst23
10,963,725
2.153.157
83.887
101,837
13,302,f
12,523.877
Income and Endowments from
a. Donations & Legacies
£61,667 in donations were received from the PTA. Events organised by the PTA over the last two years
raised funds to support student activities. £1,000 was donated to the Endowment Fund.
b. Investment Income
Represent5 the interest earned on Funds.
Governors, Report and Financial Statements 27 | P a g e

Unrestricted Income from Charitable Activities
This represents school fees receivable and other educational income.
2024
2023
The School's fee income comprises:
Gross Fees
Less bursaries, scholarships and staff discounts
9,675, 160
(594,225)
9,080,935
8,728,927
(540, 151)
8.188,776
Bursaries
Hardship Fund
Scholarships
Staff Discounts
Total
342,983
55,253
95,910
ICHJ,080
594,225
264,000
44,311
94,080
137,760
540,151
Other Educztional Income
Catering
Coach Seniice
Rental Income
IT Equipment Receipts
Insurance Receipts
Other Income Commission etc
Government Grants
Total
433,879
239,515
13,050
75,336
735
10,256
418,660
228,965
11,684
69,407
248
33,886
762,849
Unrestricted Income from Charitable Activities
10,447,930
9,491,776
Governors, Report and Financial Statements 28 | P a g e

enditure on Charitable Activities
d. Unrestricted School Services (Tuition)
2024
2023
Personnel Costs
Other Costs
Sthool Services
4,287,856
1,218,773
5,506,629
3,941,932
963,881
4.￿5,813
Personnel Costs
Salaries
2023
3, 188.332
345,095
754,428
4,287,856
2022
2.997,963
321,746
622,223
3,941,932
Pension Contributions
Total
Staff Numbers- FfE
AcademicTeaching
Academicsupport
Total
2024
55
2023
55
13
Staff Numbers-Average Number Employed
Full Time
Part Time
Total
2024
2023
58
20
57
19
76
Other Costs
Staff Related Costs
Departmental Resources
School Events
IT Related Costs
Transport Related Costs
Pupi l Related Costs
Total Other Costs
2024
47,368
355,587
7,380
394,747
399,809
13.881
1.218.773
2023
14.671
320,544
9,230
249,825
355,813
13,798
963,881
Cost of key management personnel (Senior Management Team) included above is £853,206
12023: £640,027).
The following number of employees received benefits totalling between:
2024
2023
£FAJ,CrfJO and £70,(￿1
£70,C(11 and £80,(KKJ
£80,COI and £90,1))J
£90,C()l and £ICKI.IXQ
£I(KJ.¢Xil and £llO,C(tI
£IIO.CQl and £130,￿￿)
Governors, Report and Financial Statements 29 | P a E e

Support Costs
2024
Personnel C05t5
Other Costs
Total School Ser¥lce Costs
I,L1S7,168
2,555,069
3,622,237
957,521
2,408,91J)
3,366.421
Staff Numbers- FTE
Domestic
Property
General
Total
2024
io
14
14
26
Staff Numbers-Average Number Ernployed
Full fime
Part Time
15
17
32
16
15
31
Personnel Costs- Domestlc
Salarie5
2024
260,722
17,262
32,369
310,352
222,760
15,148
29,767
267,676
Pension Contributions
Total Dome5tlc
Personnel C05ts-General
Salaries
Nl
Pension Contributions
Total Admin
2023
417,271
41,879
66,968
526,118
438,C69
44,181
68,470
550.720
Personnel Costs- Property
Salaries
157.252
14,395
23,530
195,ITI
131,824
12,115
19,787
163.726
Pension Contributions
Total Property
Total Peysonnel Costs
1,056,249
957,521
Other Costs
Catering Costs
Grounds and Property Maintenance
Property Supplies and Equipment
Admin Resources, Equipment and Marketing
Setvice Costs
Staffing and Recruitment Costs
Depreciation
Auditors remuneration:
Statutory audit
Assurance services other than audit
Otherf inancial services
Totsl Othercosts
2024
204,3
839,184
176,537
266.783
441,353
37,882
565,179
2023
210,858
759,568
145,718
249,901
424,168
42,C67
555.020
23,850
21,6CIJ
2.555.069
Governors, Report and Financial Statements 301 P a g e

Movement in Funds
A detailed breakdown of the movement of the Endowment Funds, Restricted Funds and Designated Funds
is shown below:
a. Current Year Movement Endowment and Restricted Funds
Balance at
31 Aug 23
Incoming
Resources
Resources
Expended
Balance at
31 Aug 24
Endowment Funds
Endowment Funds
Total Endowment Funds
101,837
101,837
104,323
104,323
Bursary and Scholarshlps
A.J. Vincent
Hardshlp Bursary Fund
Fee donations
Restrlcted Donatlons
Musicdepartment
Prlzes and Awards
A. Hitchens- Memorial
GuyValadon- Single Scien
J Hobbs- Memorial
John Crook
John Lewis-History
Ken Russell - Trophy
Neil Jones-memorial Fund
Norma Cook-senior Latin
Peacock- Latin
Peter Grove5- Chemistry
Wendy Simmons-MFL
BahadurSunderji-FurtherMaths
Crosby- Maths Prize
Valerie Brooking- History Prize
01 iver Griffin - Government and Pol itics
Totsl Prizes and Awards
71,926
72,974
3,676
1,475
2,201
2,476
1, 182
1,243
I,CK)i
77
36
17
18
15
20
15
20
20
20
2,492
1,185
1,241
996
87
ICK)
157
538
561
15
74
102
144
15
569
20
20
15
15
20
366
62
335
1611
83
81
345
1451
ioi
iii
8,286
120
215
Total Restrirted Funds
1,168
I.6￿)
Governors, Report and Financial Statements 31 | P a g e

Prior Year Movement Endowment and Restricted Funds
Balance at
31 Au8 22
Incoming
Resouros
Resour￿5
Expended
Balance at
31 Aug 23
Endowment Funds
Endowment Funds
Total Endowment Funds
l(Xl.930
l(X>,930
101,837
101,837
907
Bursary and Scholar5hlps
A.J. Vincent
Hardship Bursary Fund
Fee donations
Restricted Donatlons
Music department
Prlzesand Awards
A. Hitchens- Memorial
Guy Valadon - Single Scie nce
J Hobbs- Memorial
John Crook
John Lewis-History
Ken Russell - Trophy
Neil Jones-memorial Fund
Norma Cook-senior Latin
Peacock- Latin
PeterGroves-Chemistry
Wendy Simmons- MFL
Bahadur Sunderji~ Further Maths
Crosby- Maths Prize
Valerie 8rookin8- History Prize
OliverGriffin Governmentand Politics
Totsl Prlzes and Awards
71,374
552
71.926
5.151
1,475
3.676
2,479
1,189
1.254
1.014
97
17
20
15
20
20
2,476
1,182
1,243
I,i)Ji
77
20
102
100
171
534
557
15
87
100
15
157
S38
561
380
398
20
ioi
358
1301
121
20
81
15
15
20
215
345
1451
ioi
101
57
Total Restrlcted Funds
84,969
1,690
83,887
Governors, Report and Financial Statements 32 | P a g e

b. Designated Funds
At each year end, the governors determine how much funds if any are to be designated for the purpose of
funding future capital projects and/or are released to fund existing projects. In order to meet the reserves
required by the Charities Commission guidance the School maintains £1,696,459 at all times. The Governors
review the finances, budgets and spend of the School on a termly basis against the budget as part of the
effective financial management of the School.
Unrestricted funds available in 2024 are £12,447,585 {2023 £10,963,725) and a proportion of this has been
allocated and ring fenced for capital projects to improve or extend School buildings. These capital projects
include additional dining facilities, improved theatre facilities and installation of alternative energy sources that
will reduce the School's reliance on expensive grid power.
Balance Sheet
a. Fixed Assets
F￿rnI￿le
Vehl
Fund
Btsln Vse
NssEtsunder
Totil
C05tNALWimON
AI0IrnI￿3
Addliloni
Olspouls
Reclassiflcatlonof Auets
Re￿I￿1110n
At 3Jrn2D14
13.4TI.BII
40.261
J2),$91 I),￿1,210
2,DJ4,199 2,044.
L24J,S>)
i.￿6
169,2861
36,659
11432,854
l361.771
1123,287)
152
15.40?
IS4,QJil
2,361,771
86.738
535.1
535.18
14,14qCto 2,OJ4,19Y 14144,193
1123,)98)
535.JlO
1I2C6.526
535.
142346n
1,531,WJ
551520
17&
34152 0
AtOJ10511023
h&ryE fatlhe year
281995
2%,195
$65
167,042
169.2861
467,718
345
27,650
l47S
1,629.032
179
1123.2871
577,298
L4916Z6
29Q299
563,704
1123.2871
S77.29a
L464,SOI
R¢valuatlonA4luStrnent
At3YC¢12Q24
577.2
5ri,299
544.120
501C*2
NEIOOOKVAiVE
At JVW2014
14.140,COJ
387.489
49,458
IQ741025
L027
15.741052
dJ9.458
16.742.1)2S
Y43
At¢JICel>)23
IIC6L722
123.358 11175.
33&618
57.262
11733,565
Ll
117x715
13,C61,722
123.398
13.175.120
33fi618
57.162
13.733.565
L150
11734.n5
b. Fixed Asset Disclosures
Freehold Land and buildin
The Land and Buildings were revalued in March 2024 by Gerald Eve, LLP an independent valuer. The
property has been valued on the basis of Market Value for the property as a fully equipped operational
entityi for Loan Security Purposes. Evidence of freehold and leasehold transactions of other schools and
similar properties were analysed, adjusted, and applied to the property held by the charity.
Governors, Report and Financial Statements 331 P a g e

Their valuation is £14,140,000
If freehold land and buildings had not been revalued, it would have been included at the following values:
2023
Aggregate Historic Cost
Aggregate accumulated depreciation
Aggregate carrying amount
13,555,216
3,092,360
10,462.856
11,475,226
2,823,016
8.652,210
The property was purchased in 1956. Depreciation has only been charged on the property since the year
ended 31 August 2002 in the financial statements, therefore the above calculations are based on
depreciation charged from this date.
ICT
Included in ICT are fixed assets which were previously held under two finance leases. These have now both
ended.
Stock
2024
2023
IT Devices
205,852
205,852
106,663
106,663
Stock held relates to IT devices ava ilable for sale to students/parents for use in education.
d. Debtors
2024
2023
Fees Receivable
Bad Debt Provision
Prepayments/Accrued Income
12,979
18,165)
295,032
299,846
25,228
{11,3931
246,484
260,319
Governors, Report and Financial Statements 34 | P a g e

e. Creditors- Amounts falling due within one year
2024
2023
Deferred Income
Fees in Advance Scheme
Accrued Expenses
Trade Creditors
Taxation and Social Security
Othercreditors
Bank loan (Note 51)
992,964
989,222
97,177
231,096
334,144
132,274
249,724
651,725
270.148
3,232,332
592,601
387,800
1,696.543
Deferred Income
Deferred income comprises fees paid upfront relating to the year ended August 2025.
2024
2023
Balance a5 at I" September 2023
Amount released to income f rom charitable activities
Amount deferred in year
Balance as at 31" August 2024
262,373
1262,3731
232,811
232,811
245,927
1245,9271
262,373
262,373
g. Credltors- Amounts falling due after more than one year
2024
2023
Fees In Advan￿ Scheme (Note Sh)
Other Creditors
Bank loan (Note 51)
1,999,211
10)
5,048, 186
7.047.397
101
3,807,400
3.807,4CKI
h. Fees In Advance Scheme
Parents may enter into a contract to pay the school in advance for fixed contributions towards the tuition
fees for a minimum of two years. The money may be returned subject to specific conditions on the receipt of
notice. Assuming students will remain in the school, fees in advance will be applied as follows:
Governors, Report and Financial Statements 35 | P a g e

2024
2023
Amounts falling due within one year
Amounts falling due afterone year
Total
989,222
1,999,211
2,988,433
Summary of movements in liability
Balance as at I September 2023
New Contracts
Refunded
Amounts used to pay fees
Balance as at 31 August 2024
3,002,090
13,657
2.988,433
Financial Instruments
Amounts repayable by instalments are as follows:
2024
2023
Bank loan payable (falling due within one yearl
Bank loan payable (falling due in more than one year but
less than 5 years)
Bank loan payable Ifal ling due in more than 5 years)
Total
270, 148
387,800
1,260,339
1,551,2CAJ
3.787,847
5.318 334
2,256,2C(i
4,195,2
The bank loans are secured on the School premises which has a carrying value of £16,144,199 on 31
August 2024 and on all the assets of the company. If any event of default specified in the terms occurs,
then the bank may demand immediate repayment of the loans, all interest accrued and all other sums
payable.
The School loan with Natwest Bank for£3,467,OOOwhich commenced in August 2018 was renegotiated
and a new loan was commenced in August 2024 for £3,360,000. This will be repaid over 15 years.
Interest is accrued at a variable rate of 2.oyo above the base rate. Interest costs recognised in 2023124
relating to this loan totalled £151,78612023: £131,524).
The School has a second loan with Natwest Bank for £2,350,000, which commenced in February 2022
and will be repaid over 15 years. Interest is accrued at 3 fixed rate of 3.87%. Interest costs recognised
for 2023124 relating to this loan totalled £79,49712023: £85,058).
Governors, Report and Financial Statements 36 | P a g e

Reconciliation of Funds
The School's funds are considered below.
Unrestrlded
Fund5:
Profil and loss
fund
Unrestrfcted
Funds:
Revaluatlon
ReseNe
Restrfrted
Funds
Endowmeni
Funds
Yotsl
Totsl
Balance at tst Sept 2023
Net Movements in year
Transfer in the year
Galns/llossesl on revaluatlon of flxed assets
Balance at 3tst Au8 2024
10.963,725
1153,157
83,887
15221
101.837
2.486
13,302,607
I,CIX),8E6
12,523.877
778.729
192.3401
577.258
IZ,447,585
92,340
535.188
2,7W,6E6
1,111486
15,415,959
321
,302,6C
Comparatives of school funds in prior year
Unrestrfcted
Funds:
Profit and Ios5
fund
Unrestrfrted
Fund5'.
Revaluatlon
Resèrve
Resirfcted
Funds
Endo￿Trent
Funds
20
ToLIl
Totsl
Balance at tsi Sept 2022
Net Mcvernents In year
Transfer In the year
Galns/llossesl on revaluailon of flxed assets
lance at 31st Au8 2023
10.C82.481
778,5
92,340
2.245.497
84,969
I1.￿2)
ILb),930
9)7
12.523.877
778.729
J3,446,049
57L631
192,3401
1.493.803
Unrestricted funds represent accumulated income from the School's activities and other sources less
expenditure that are available for the general purpose of the School.
Restricted funds represent donations received from external donors, which are used for prizes and awards
each year.
A Declaration of Trust established the Endowment Fund in 1968. This Trust fund is a permanent endowment
that is the capital of the Trust fund and cannot be spent, only the income accrued on the capital sum.
6. a. Reconciliation of net movernent in funds to net cash from operating activities
Unrestrl¢ted
Restrirted
Endowment
2024
Funds
Funds
Fund
2023
Net incomellexpenditurel
998.902
15221
I,O)J.866
778,729
Adju5tmentsfor.'
Depreciation Charges
Net Interest adjustment
Lossllprofitl on the sale of fixed assets
Increase in finance lease assets
Ilncrea5ellDecrease in Stocks
IlncreasellDecrease in debtors
IncreasellDecrea5el in creditors
563,704
20,362
1.475
11,1681
565.179
17,708
555,020
130.135
11.4861
199,1881
139.527)
3,652,653
199.1881
139.5271
3,651653
118,4501
165,4621
179,544
Net cash provided by {used in) operatln8
activities
5.OY4905
{2151
5.097.691
¥559,5J5
Governors, Report and Financial Statements 37 | P a g e

6. b. Analysis of cash and cash equivalent5
Unrestricted
Funds
Restrlcted
Funds
Endowment
Fund
Cash in hand
Total cash and cash equivalents
8,260,280
426Q280
82,335
81335
104,323
8,446,938
4446,938
4.605,593
6.c Analysis of Change in net (debt)/funds
Nel Cash
Cash at bank and in hand
at 0110912023
Cashflow
al 3V081a)24
Unrestricted
Restricted
Endowment
4,422.374
81,381
101,837
4,EKJ5,593
3.837.907
953
2.486
3.841,346
8,260,280
82,335
104,323
8,446,938
Debt
Debt falling due wlthin one year
Oebt falling due after one year
Unrestrlcted
Unrestrlrted
1387,8WI
13,807,4CX)
14,195,2¢x)I
117.652
11,240,786)
11,123,134
1270,1481
15,048,186)
5,318,334)
Totsl
410,393
2.718.212
3.128,605
7. Operating Leases
The total future minimum lease payments under non-cancellable operating leases fall due as follows:
2024
2023
Within one year
Between one and five years
More than f ive years
Total Operating Leases
18,9
38,873
30,668
6,670
57.833
37.338
The total operating lease expenditure included in the Statement of Financial Activities is £30,958 (2023:
£35,919).
8. Transactions with Related Parties
There was no remuneration paid to the Governors in the year12023: Nil), nor expenses paid then reimbursed
to Governors12023: Nill. There were no other related party transactions in the current or prior year.
9. Legal Status
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the
event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of
the charity. The charitable company's registered office is included on page 3.
Governors, Report and Financial Statements 381 P a 8 e