FOREST SCHOOL, LONDOIY FINAY4CIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 HaysMa¢ LLP Chartered A¢¢ountants Regist¢red Audiiors London Company Number: 00429150 Registered Charity Number: 312677
FOREST SCHOO4 LONDON II¥DEX cowrKNTS Pgg¢ R¢fcr¢n¢¢ and AdmiDistrativ¢ Infornution Chair'5 Statcmcnt Governors, R¢port 3-15 Indq>cndcnt Auditor's Rcport 16-17 Conso]idated Ststement of Financial Activities 18 Balance Sheets 19 Consolidaled Statement of Cash flows 20-21 A¢counting Policies 22-24 Notes lo th¢ Financial Stat¢menls 25-37
FOREST SCHOOL, LONDON REFERENCE AND ADMINISTRATIVE INFORlILtTIOIY GOVERNORS D. Wilson, LL.B- Chair of Goverryors (l) Ms G. Atlee (3) (resigned 22 March 2024) Dr S. Berrymkm (3) (4) The Venerable E. Cockett, Archdeacon of West Hatn (3) (resigned 5 July 2024) J.D. Davies (3 - Chair) (4- Chair) W.M. Fuller (l) (2) s Y Gibbons DrSMHadi Ms N Lall OBE (3) (appointed 27 Febrnary 2024) P. Sampat (l) (2) S.T. Perry (l - Chair) {2- Chair) (l) Finance and Estates Committee {2) Health, Safety ad Risk Management Committee (3) Education Committee {4) A¢ademic Committee Warden r M. Cliff Hodges Br$ar gnd Secretary Mrs D. Coombs Registered Offiee Forest School Nr Snaresbrook London E17 3PY Solicitors Edwards Duthie Shamash Bank House 269- 275 Cr8nbTook RosMI Ilford Essex IGI 4TG Auditors Haysmac LLP 10 Qu¢en Street Place London EC4R IAG Bankers Barclays B8mk. PIC I Churchill Pl London B14 5HP Company Number: 00429150 Registered Charity Number: 312677
FOREST SCHOOL, LONDON CHAIR'S STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 Unsurprisingly> the headline issue occupying much Governing CouD¢i] and sentor execuliv¢ tim¢ during the past y¢ar, and which continues to do so, was the imp¢nding risk- and which is Dow the r¢ality- of VAT on school fe¢s and the remova] of charithble rate5 relief acFOSS the sector. Since long before the general election, the School had be¢n mod¢llin£ a range of scenarios in anticipation of what is noiv the reality, and since July it has redoubl¢d ils ¢fforts to build as Credible and workable a plan as possible to ensure Forest is equipped to face future challenges. All our discussions and financial configurdlions. and those that doiibiless li¢ ahead, are Anfomied by tsvo irnmulabl¢ Forest principles.. that th¢ quality of our proviston remains at the level on which our hard-won repulation has been built; Jnd thai the fMan¢1 burd¢n on Forest's hardworking familie5 is mitigated as far as we can reasonably manage. I believe the work being undertaken to secure future sthbility provides us with an encouraging platfonn and, as I ststed last year, I remain optimistic that the School will continue lo thrive. and that our unique educational and community offer r¢mains ¢orn¢rstoi)e of ind¢p¢ndeni edu¢ation in north-east London. This positivity is grounded in ¢vid¢n¢¢. During the last year. and after much consideration, Forest took the bold step to expand its Prep S¢hool numbers. Based on data and clear appetile, this move has supported the strengthening of our base with th¢ pot¢ntial to s¢¢ure future senior School numbers in our all-through structure. This strategic decision also r¢ceiv¢d tacit endorsement during a r¢¢ent ISI insp¢¢tion, when th¢ Eyfs (Early Years foundation Stage) section of the S¢hool was identifi¢d as a 'signifi¢ant %trength' in our provision. Noneiheless, in a challenging financial environment more bmadly, w¢ remain alive to ihe faci that ther¢ will be Forest families for whom this new reality is not viable and this is reflected in our planning. An institution ot For¢st-'s SI ¢annoi stand Still. If we are to ¢ontinue to attract families, both locally and from other parts of the city, we must continue to invest in what makes us distinct and attrd¢tiv¢. Part of this is ensuring our sile and its buildings are fit for purpose and provid¢ lh¢ type of learning 41nd working ¢nvironnTr¢nt our Staff and pupils need. The past year, therefore, saw work tske place to upgrade our chapel and theatre buildings, cr¢Jting mor¢ fl¢xible, multi- functional areas for teaching while the spaces rematn led by ih¢ir cor¢ function. ForesÉ is defined by its spirit of community- both within the Forest family and beyond- and ihis was expr¢ssed, in th¢ reporting year, through a broad range of access and outreach work. This is ¢xpand¢d upon in th¢ Gov¢rnors' R¢port which follows. During the reporting year our current Warden, Marcus Cliff Hodges, announced his r¢tir¢ment and I thank Marcus for his leadership and unfailing commitment to Forest over the last 20 years. We ar¢ delighted that Claire Tao, a proven leader with experience from across a wide range of roles within our sector, will join us as Warden from S¢pt¢mb¢r 2025. As ever, l extend my personal thanks to all our statl. pupils and parents who make our School the thriving community li is, and my fellow governors whose valuable support to both me and the School keeps Forest at the for¢front of indepcndcDt day school provision. David Wilson Chair of the Governing Council
FOREST SCHOOL, LOND0Tr4 GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Governors are pleased to submit their Report on th¢ S¢hool-'s activili¢s together with the Financial Siatements for the year ended 31 August 2024. which have been prepared in &¢¢ordan¢e with th¢ Ftnan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS102). lh¢ ST¢M¢nt of R¢¢omm¢nded Practice applicable to charities preparing their accounts in accordance with the Finan¢i81 Reporting Standard appli¢able th¢ UK and Republic of Ireland (FRS, 102)- (2nd Edition, effective l January 2019) and th¢ Companies Act 2006. REFERENCE AND ADMINISTRATIVE INFORMATION Details of the Governors, exrcutiv¢ offi¢¢rs and advisers are shown on page l. At its AGM on 6 December 2023, the Governing Council ratifi¢d th¢ appointment of Yemisi Gibbons. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing do£umeDt The School was founded in 1834 and was in¢orporated in 1947 as a Company Limited by Guarantee. Each member of the company has a liability under Ihe guarante¢ limited to £1. The organisation and operations of th¢ School are primarily govemed by th¢ S¢hool"'s Memorandum and Articles of Association. Organisation The School is rnanaged by a Governing Coun¢il which provides its services orA a voluntary b&8is. The following are also relevant to understanding the basis on whi¢h th¢ School is manag¢d.' Finance and Estates Committee The Committee meets at least four times V4 year to ¢onsider major policy, financial and signifjcant infrastructure matters. It compri5¢q nominated Gov¢rnors. wilh the Warden, Bursar and Chief Accountant in attendance. It reports t¢rmly to the Governing Council. b) Health, Safety #nd Risk Man#gem¢nt Commlttee The Commiltee meel5 termly lo identify and ¢valuai¢ potential threats to tlie futtjre operation of the SchoDI. It comprises nominated Governors, Ivith ihe Warden, Bursar, Dir¢¢tor of Health. Safety and Compliance, InfOrntiOn Director and oth¢r s¢nior stsff in attendance. It reports ternily to the Governing Council. Education Committee The CommitteE meBts tertnly and has a monitoring and advisory role relating to the School's curricular and pastoral provision. It comprises nominat¢d Governors with the Warden and other senior staff in attendance. It reports temily to the Governing Council. d) Academic Committee The Committee rnECts on¢e in both the Mi¢ha¢lmxs and Lent temis and h&s a monitoring and advisory role relating to the School's academic provision. li ¢omprises nominated Governors with the Warden, Deputy Head Academic, the Head of the Prep S¢hool and other senior academic staff in attendance. It reports ternily to the Governing Council. Operational M4nAgement The operational daily management ot the S¢hool is th¢ r¢sponsibility ot the Wayden, Ivho is primarily supported by the Deputy Heads, Head of the Preparatory School and the Bursar. Use of Unpaid Volunt¢¢r$ All Governors provide their services on a voluntary unpaid basis. There are no other unpaid volunteers.
FOREST SCHOOU LOIWON GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT {£Dn¢inued) Staff The School employs an average of 422 staff, of whom 218 are teaching staff. For details of the full-tirne equivalents. pleas¢ r¢f¢r to Note 5 on pag¢ 28. At year end. the Governing Council consisted of nine rnembers and, along with ils sub-committees, meets every lerrn (twice in Michaelmas). Jn addilion, individual members support the Warden and his Leadership Team on specific proj¢¢ts and asp¢¢ts of th¢ S¢hool's work. For¢st's Gov¢rning Council ¢omprises p¢opl¢ from a wide range ot'¢xp¢rien¢e in edu¢ation, busin¢s$, tinan¢¢ and lh¢ prot¢s$ions. Govemors giv¢ tr¢el)' of their (im¢ and ar¢ solely ¢ommitted to th¢ enduring su¢¢¢ss, healih and happiness of th¢ schi1. All new Governors are ¢h¢¢k¢d through the Dis¢losur¢ and Barring S¢rvi¢¢ and indu¢t¢d into th¢ workings of the S¢hool prior lo the date of formal appointment Training is provided for all Govemors &$ appropriate to keep them abreast of their legal and trustee responsibilities. Kty Manxgement Personnel The dAy-to-day tunning of the School is delegated to the Warden and the Bursar. They are supported by the Senior L¢&d¢rship Team and together this group repr¢s¢nts the key management p¢rsonnel. The Senior Leadership Team comprises the Deputy Head Academic, Depury Head StatTing & Operations, Deputy Head Co-curriculum. Deputy Head PÈstornl, Deputy Head Safeguarding, Head of Sixth Fom, Head of Middle School, Head of Lower School and Head of Pr¢paratory School. Remuneration is set by the Governing CouncAI in a fair and responsible manner with the objective of ensuring appropriate incentives to encourage enhanced perforniance. In setting pay, consideration is gjven to the nature of the role and responsibilities, the sector average for comparable positions and trends in pay. Trading company Sylvestrian Enterprises Limited is a wholly owned subsidiary of Forest School, Lolldon, and is independently funded. Its financial year is cotenninous with that of the School. Its principal activities are the provision of leisure facilities the letting of the SchiM)I's facilities to third parties and a tuck shop facility. STIL4TEGIC REPORT OBJECTS AND ACTIVITIES The objects for which the company is established, and as set out in the Articles of Association are= To promote and providefor the advancement ofeducation and in connection therewith to utablish andprovide, conduct, carry on. acquire anddevelop in the UniledKingdom any boarding or day school or schoolsfor ihe edycation ofchildren. Principal activity Thc Schi)ol's principal activtty is to promolc and providc for thc advac¢mCnt of cducation, to includc the CODtinuaTrcc of Forest School, London. Policy for achieving objective5 The Governors have had regard to guidance from the Charity Comrnis5ion in ¢n5uring that the School-'s objectives are for Ihc public bencfit. Thc policics for achirving Ihc S¢hool's obje¢liv¢5 arc as follows.. To supply lo the pupils g¢Tt¢ral instruction of the high¢sl class of moral and physi¢al (raining log¢ih¢r with r¢ligious training a¢¢ording to th¢ prill¢iplc5 of the Church of England ond to a¢t wh¢r¢ver possible to the b¢n¢fit of Ihc local community, as 8¢ wholc. To ¢quip, furnish and maintain th¢ buildings and grounds of For¢st School, London for the said us¢. To award bursaries to support the ¢hildren of par¢nts without the m¢ons as well as award prizes and s¢holaTships to pupi15 for proficiency in studi¢& ¢x¢r¢ise or gam¢& art or music. Co-op¢r#lion with lts¢al s¢hi)ols in advi¢¢ lo pupils. teaching staff exchanges and sharing r¢sour¢es. To subscrib¢ mon¢y for ¢harilabl¢ objt$ through a r¢gular progr41mm¢ of fijnd raising ¢vents.
FOREST SCHOOU LONDON GOVERNORS, REPORT (Continued) FOR THE YEAR ENDED 31 AUGUST 2024 To control costs and to maintain tuilion fees al the lowest practieal levels, Consistent with the School's objects. To act as trustees or managers of any property, endowmenL legacy, bequest or gift. foT charitable education pulposes only. To share bportin8 facilities with bona fide organisations, within the local community. To borrow or raise money for the purposes of the School on such sccurity as may b¢ thought fil. To do all such other lawlul things are necessary to the attaintnent ot thc above object5 or any of them. 10. Th¢r¢ have been no material changes in the above policies since the last report. ACHIEVEMEiYfs AND PERFORMANCE The SchiM)I provides high quality education lo its pupils offering a widc rangc of acadcmic courscs at both GCSE A Lcvel with a number of subjecls not available at all schools. Academie r¢$ults for the year Thc nuTrJber of pupils during the year 2023-24 averaged 1,501 (2022-23: 1,522). A total of 354 pupi15 bencfited through finan¢ial support from S£holarships and Bursaries. In SumEner 2024.. 136 pupils were entered for G Advanced Level. The pass rate at grades A.B was 81.20/0 with A.A at 58.50/0. This rose to 60.31J/u A.A when the Extended Project Qualifi¢8tion results ar¢ factored in. 660/• of all EPQ grades were at A or A A further 165 pupils were entered for GCSE cxaminations- 77.80/0 achicvcd grades 9-7, with 57.41/)• al 9-8 49.7t)/• of all Higher Projecl Qualifi¢alions achieved the highest grade of A with 71.1 % achieving A_A. Forest has undergone a remarkable transfonnalion. chardcterised by a tangible sense of acadeTnic momentum. a Strong and collaborative culTrre of expert leaching and learning. this year leading to the School's best ever results at both GCSE and A Level. Forest has established itself as a nol&bl¢ London Day School. distinguished not only by these competitive headline outcomes bui also by its unparall¢led diversity of opportunities flexibiLtty in approach. and a high regard for pupils. mulii-fa¢eted talents, skills and ¢haracteristi¢s. Over 910/0 of pupils progressed to universiti¢& in¢luding two to Oxford and one to Cambridge. 77Yo of the ¢ohort progressed onto Russell Group institrjtions. Others took up high prestige apprenticeships, places at overseas universities and drama school. High S&indards contitLue to be maintain¢d in spoit music, drama and art. Notable sporting successes in the year included iii crickeL whcrc F01¢5t continucd to d¢monstrat¢ its strength as a cricketing school across all age groups. The U17 boys reached thc top ¢ight schools in th¢ country, whilc th¢ Isl XI girls progressed well through the National Cup and then winning thc E5scx cup 100 ball CQEllPCtiti(Trn, while Ihe U13 girls won the Essex Cup trophy. Thc U12 boys a]so won their Esscx Cup trophy. In football. thc U15 gir15 (h¢d the f&nal in the National plate while the U16 boys won the Essex Cup and thc sccond Xl boys rcach¢d th¢ fal in th¢ l¢ague iup. In netball the rst team were runners up in the County Cup, also rcaching th¢ s¢mi-fu)als of th¢ Ess¢x plalv. The U14s reached the quarter filS of the Essex Cup and reached thc rcgional fllLals by Wi[Illg th¢ Coullty comp¢tillo while ihe U13s progressed to the last 16 in two nafional compctitiolls. In swimming, th¢ junior girls qualified for the ESAA national finals. In athletics. a fcmalc pupil has reprcscntcd England for thc past two y¢ars at multi-events while the junior girls, and boys, teams made the reglonal finals and thc inlcr boys cros5 counlry leams made the regional finals too. PUBLIC BENEFIT Forcst School cducatcs pupils from thc ag¢s of4 to 18. The School continues to value and promote the etbos of wider comtnunity involvcmcnt and public sCtvi¢¢ and 15 w¢ll inl¢grated in its local community, which. while concentrated in the immediate Yicinilies of the School. a150 5pr¢ads across a signifi¢ant part of th¢ suburban area of north-east London.
FOREST SCHOOL, LONDON GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 The Promotiox ofEdueotioA. Involvement i* the Community, and the Charilable Objecl ofRelief PARTNERSHIP SUPPORT London Academy of Exeellence (LAE) Our 12 year partneTship with LAE continuvd throughout Ihc rcporting ycar. Thc School crcatcs as many opportlmittes as P05siblc for studcnts from botb schools to meet, share ide&s and, where po&sibl¢. work tO8ether. In 2023 Year 12 students trom both schools collaborated un a pruj¥LI to slag¢ an Cvcnt tor th¢ir pc¢rs whilc raising moncy for charity. 'fhe LAE- Forcst Charity Ball was held in November at Trorest.. the culmination of s¥v¢rdl Tnonths of c105¢ collaboration bcÉwcen Éwo group4 of Yr 12 studcnts from both schools working together. At the heart of the project W2S tlie leaTning experience ftkr everyonc involv¢d'. working with people from ditrerent setttng$ ld with ditt¢r¢nt Vl¢WPOiDls/opiDions, allowing Foi evcryonc's voic¢s to bc hcard. Icarning hoiv to negotiate and co-operate. how to overcome obslacles, finding altemative sOluÉion Larving a path that both groups could work together on to reach th¢ir goal. They raised just OV¢F £1.400 for the Disasters Emergency Committ¢c (DF.C). SUPPORT TO OTHER SCHOOLS For¢st provided support to a number of locai schools and the following are examples of lh¢ work und¢rtak¢n- SCIENCE British Seienie Week In March Forest welcomed 350 pupils from nin¢ local primary s¢hools lo watrh an 'Amazing Animals, show presented by Braintastic, aimed at teacFLing children about the unseen abiliti¢s of many diff¢rent animal5. Junitsr Science Competition 23 prep and primary schools took part in the Junior Science Competition, including Forest Prrp School. Tcams of four Year 6 pupils pthicipatcd in three experiments where they had to detemiine the most logical ¢on¢lusions bas¢d on their observations and sci¢ntiti¢ knowl¢dge. While the teams waited for the results. two Forest Science teacliers put on an amazing science-based 5hoiY. Timetabled Seienee Outreach xt a local Prijnary School One of our Science teachers led sessions ai Mayville Primary School in the Michaelma5 and Lent tenns working with YI pupils looking at the human body, plants and animals and their habitats. MATHS GCSE Additional Maths Throughout th¢ ycar, Forcsi provided after-school weekly support to pupilb tn)m Fr¢d¢rick BTr¢r School and Walthamstow School for Girls. in th¢ir preparation for GCSE Additional Maths, working alongside our own pupils also preparing for thi.s examination. Maths Piste Lecture Mathematician Colin Wright gav¥ th¢ 2023 'Math5 Off Pi5tc' Iccturc on thc maihcmatics of juggling to both Forest pupils and thosc from visiting local schools: Wanstead I ligh SchL)ol, I l¢athcot¢ School and Trinity Catholic High School. HUMANITIES AND LITERACY History Symposillm Forcst hosted tht third joint Forest-LAE Historical Symposium in Novembei, w¢looming Dr Pancaldi and four A Lcvcl History studcnts from LAE who.joined five Forcst A Lcvcl 14istory sthdents and their Ilead of Ilislory. Th¢ 5ymp05ium was d¢signcd lo providc an opportunity for studcnts lo research a topic of their choice, outside their A Level syllabus if they Wishe and tr) each present a papcr to thcir peers and be intellcctually challenged and qu¢stioned on its ¢ontcnt. Forcst blso wclcomcd Dr David Smith from Selvryn College, Cambridge who gave a lecttw¢ on why Charles I w85 ex¢cut¢ CAREERS HE and Careers Fair The HE and Car¢ers Fair r¢turned lo Foresr in January with over 60 exhibitors showcasing a range of universilles and businesses, including employers offering appr¢nii¢¢shipb and gap year opportuy)itlC5, As wcll a5 Forc5t's own pupil& the School welcomed over 150 pupils to tile Fair from Marshalls Park Academy, WalthamstoTh' School for GTrrls, Higham's Park School, Norrnanhurst School, Brae5ide School and G¢org¢ Mit¢h¢ll School.
FOREST SCHOOL, LoION GOVERNORS• REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 ARTS Musit Outreach Sessions at a locAI Primary School The Head of co-cu1(lar NIu5ic providcd ukclclc l¢sson5 as an after school ¢lub at Wanst¢ad Chur¢h Primary School which wa5 very popular. Life Drawing Cl&s$es For thc 5ccond year ruftning, Forest offer¢d pla¢es on its Life Drawing c11s after school every Thursday during Lent Term to our partner s¢¢ondary schools. Dav¢nant Foundation School. King Solomon High School and Woodford CoutLty High S¢hool sent A Level Art studenrs to these weekly ¢lass¢s. Th¢ sessions were hugely popular and offered great b¢ncfit lo stud¢nls in building their portfolio. Dnt¢ Worksbops Forest ¢xtended its Dance Outreach to more partner schools in the reporting year. Two Forest Dance rea¢h¢rs worked with re¢eption classes and Years 4-6 at Snaresbrook Primary, Aldersbrook Primary, Henry Maynard Primary and Chingford CotE. In addition, and owing to their popularity, Str¢ct Dancc classes were off¢red lo mor¢ loeal primary schools throughout the year. Dance sessions were delivered at Henry Maynard. Snaresbrook and Aldersbrook Primary schools and also for Years 3-6 at Coppennill Primary School. Everyone was keen to get involved, ¢v¢n students who thcir tcachcrs rcmarkcd w¢rc not the most confident and t¢nd¢d to struggle in other disciplines. 'IYour leacher) 17as madg such apositive impacl wilh the childrert... Ihey were evén able lopÉrform their dance rOlineS io iheirporenis in ourfinal sharing assembfy ihis morning andiheparenls were completely blown WaY1, Wansletzd Church School 'Thankyou...forwur suppori Èhisyear, it kns been really voltsable...and it has addedso muck to our curriculum. SnaresbrookPrimary s¢hool 'Thankyou so muchfor tkis, otsr children loved il and ifyou have onyikingagain. we would love lo be involved in il. (Your Èeachgr) was so good with the children. she's a credit toyour school. ' Henry Green Primary School DoAYnham Le$ Misérable5 performance In November, Forest welcomed loeal primary schools Henry Maynard Chingford COE, Coppemlill Wanstead Church Schoo]s to a matincc pcrformancc of L¢s Miscrabl¢s, th¢ For¢st's Mi¢ha¢lmas production. '] wanled io say how impressed we were wilh Ihe Les MtsérabksperformÉJnee. li wasfantaslic tMrpupils were mumerised by il (and ihe sehoolgroundsl)'Henry Maynard PriM4Vy School Blttle of the Bands For th¢ first tim¢. 'B&ttl¢ of the Band5, was held at the Theatre Royal, Strdrford East- an opportunity to showcase ibe talents of pupils (and 5taffj. Forest bands were also joined by a guest band frorn local sclLooI. Walthamstow Academy, who opened th¢ live show in styl¢. NHS Retirement Concert In December, Forest pupils put on a lovely perfonnance at the NHS Retirement Con¢¢rt at Our Lady of Lourd¢s Catholic Church in Wanstead. MODERN FOREIGN LANGUAGES Timetabled Mandarin Outreach Sessions to local Primary Schools Forcst's Hcad of Mandarin deliver¢d lim¢tabl¢d Mandarin sessions one afternoon a week at 0@k.de Junior School in South Woodford in the Mi¢ha¢lmas Tern). After School Maths, Science and Spanish C]b8 Th¢ after s¢hool clubs at Wanstead Church School ran successtully throughout 2022-2023 and in 2023-24, another group of Year 12 sttLdents took up the mantle to continue ning the after school Spanish, Maths and Scicncc club5 and sharing their ¢nihu5iasm foi th¢s¢ subj¢cÉ with Years 3-6 pupils. Running these clubs gives the students an opportunity to engag¢ with the local community in a posilive and mutually beneficial way and provide academic enrichment for the local school pupils with the alternative experience of bcing taught by people other than their tra¢h¢rs. German Spanish and French Plays- On4tti Th¢#tr¢ Comp>ny In february. Forest welcomtd Frederick Br¢tner School to a perfomiance by the Onatti Theatre Company of a Gern)an language play Der Babysitter. In May. Oaks Park High S¢hool also cam¢ to For¢st for a performance of a Spanish language play Reserva Duplicada and in June Woodbridge Hi8h School. Oaks Park High School and Frederick Bremer School came to a perforniance of Le Cours d Apt. Th¢ plays us¢d words the students would not have readily recognised. along5idc languag¢ that th¢y would have b¢¢n familiar with alr¢ady to help them follow the play. Vocabulary sheets were provided at ¢ach p¢rformance to aid understanding.
FOREST SCHOOL, LONDON GOVERNORS, REPORT (continutd) FOR THK YEAR EL¥DED 31 AUGUST 2024 SPORT Swimming Outreach A Forest swimming teacher developed an Outreach pr()gramme.' the Forest Swimming Performance Programm¢. invtting regionaI to national level swimmers currenily atlending state schools in Waltham Forest and Redbridge to top up ih¢ir training by joining Forest swimmers during their Perforniance sessions. Th¢ programme's aim 14 to SUPPOrt those children who encounter difficultie5 in rnakiT]g it lo elite level swirnming owing to b8Jriers such as the rising ¢ost of pool hirc for local swimming clubs as a result of in¢rc&std energy prices. Most state school ¢hildr¢n who swim ¢ompetitiv¢ly do not gct lo acc¢ss th¢ volumc of pool IiEllC Tequircd to reach th¢ highcst Icvcl in th¢ sport and for those that do, this often means training at 5.00am b¢fO school and up to 9,00pm aft¢r 5Ghool due lo busy public pool prograrnmes whi¢h Can have a knoCkll ¢ffect on their studyllife balance and overall ll'ell-being. Since September 2023. swirnmers from the following schools have taken advartte of our Perforniance Programm¢: Heaih¢ol¢ School. Higham's Park School: West Hatch High School and Wanstead High School. One of the swimmers tsking advantage of the progrdmme competed at the London Regional Championships and mad¢ Swim Englad National qualification times in 50m Freestyle and 50m Breaststroke. This was their highe level of qualification to dat¢ which put them in the county's top 20 for their age. This is aTh incredible achievement for the pupil and a ¢r¢dit w this impa¢tful programme. Our Lady of Lourdes and Snaresbrook" Primary Schools also took advaniage of the use of the pool once Fore9t had broken for th¢ summer holidays OUTDOOR SKILLS In the reporting year, and for the f]rst lime, Forest Tan an afternoon of outdoor and CCF skills for lo¢al primary and prep schools. Groups of Year 5 pupils were given the opportunity to experience various activities ranging from 'capture Ihe flag, lo drumming. Pupils learned about working as a leam, following instructions. using their initiative and thinking 'outside the box,. Participating Schools were Mayville Primary School: Nightingal¢ Primary School, Loyola Prep Sciiool, The Gower School and Willow Brook Primary School. COMMUNITY ACTION (dbk donxtiOn8 For¢st's regular fortllightly foodbank donations to R¢dbridg¢ Foodbank continued and rhere was a visit io the F(Trodbank to see the work in action and how contributions ¢8n help towards making a difference to thos¢ in ¢risis in our local community. Winter Coat Collection Once again, Forest ran its winter coat collection in November. There was an ovenyhelming response from ihe Forest conimunity and the donations were divided belween two local organisations.. Branches homeless shelter in Walthamstow and the L¢ytonslone branch of The Salvation Artny. Book Collection Following a ¢all-OUt to the Forest Community for books, lh¢ School wos abl¢ to r¢spond to a local PTimary school in nccd of fiction/non-fiction books suitsble for ages 41 I following an amazingly generolls response. 'ljusÈ wtmied io say o HUGE thankyoufor rhe £Ylremely generous donation ofbookn. Th¢ range and quality isitisl fanÈaslic, and ourpupils fjndPTA volunteers kove thoroughly enjoyedsorting and browsing ikrough the titles ihis week. Pl¢ePaSS on our sincere ¢hanksfrom everyone ai W£llow Brook to all iKvolved in maA7Ptg the bookdrive hap., Ivillow Brook Primary School Years 7 and 8: Winter FAir, Christm#$ And Summer Hamper Riffles Th¢ Y¢aT 7 and 8 CoTrmunity A¢lion pupils h¢ld a Wintcr Fair in D¢c¢mb¢r &t St. Petcr-in-thc-Forcst Church and sold ooki¢s and ¢ho¢olat¢ truftl¢s. jams and festive ¢ards ihey had mad¢ th¢mselves to raise money for Bran¢hcs. A Christmas hamper raffle was a150 held which included items g¢nerously donated by the Forest community of pupil& par¢nts/¢ar¢rs, siaff and Old For¢bt¢rs plus it¢ms made by the pupils Ihems¢lves. The proceeds from both ih¢ Winl¢r Fair and the Christm&8 Harnper Raffle raised just over £1,000 for Branches homeless shelter in Walthamstow and Haven House Children s Hospice in Woodford Green, both of which are local charities. rollowing the success of ihe Christmas Ilamper liaffle. the Year 7 and 8 Comn]unity Action pupils held another hamper rafflc for two morc local charities: Thc Magpic Project and Cclia Hammond Animal Welfare TThst. Once agai items were donated by the Forest cornmunity to create two hampers for a Summer Hamper Raffle draw in June. The raffle raised £519 whi¢h was split between the two chariÉies. Sixth Form Volunteering at Haven House On¢¢ again Y12 and 13 students undertook volunteering At Haiien House Children's Hospice taking part in a numb¢r of activities to help Haven House staff prepare for events su¢h as their Hallow¢¢n Party, and Family Christmas Party.
FOREST SCHOOL, LONDON GOVERNORS? REPORT {eontinued) FOR THE YEAR ENDED 31 AUGUST 2024 LINKING SCHOOLS PROGIL4MME Workshops were held during the course of the year with forest's Y8 pupils and those from F.den School for Girls An Walthamstow. One workshop was hostcd by Edcn School which fo¢us¢d on group id¢nlily and ¢xplored how lo avoid stereotypes and promotc cmpathy and dialoguc skills. FoTCSt hostcd & workshop whiLh li)LU5¥d on 'identity' and how our own unique identity and world views are formed and shapd. They particularly enjoyed the challenge to creale a ollp postcr rcflccting thcir Icarning. During cach of thc wotkshop5 IhroughiTrut the year, the groups reflected on how we live wcll togcthcr. cnsuTillg that w¢ cr¢at¢ a oohcsiv¢ Lommunity where all voices are valued and understood. LOCAL EDUCA TION Mock Interviews for Oxbridge Candidatts Forcst was pl¢as¢d lo support studenL8 fr()m 14eaihcole School and Science College and Trinity Catholic High School. all of whnm httd received intetview invitations for Cambridgc and hoping to study Mcdicinc, l.and F,conomy and Gcography. Oxbridg¢ interview pr&clice w&8 also provided to a group of I I students at Wanstcad High School_ S£hIls, Climate Conference In September, during Forest's Sustainability WCCL pupils from Fredcrick BrcrrLcr School and Woodbridg¢ High School att¢nded the School's Climate Conference. Working with pupils in 16 grollps. eath ot whith represented a different nation, all the pupils researched thcir country's rc5pon5ibilitics. priori(ics and vulnerabilities regarding climate chang¢. They l¢am¢d how to negotiate and to lisken to each other and how conferen¢es su¢h as these actulY work as well &% experiencing one of the key challenge5 of COPS: how w b¢st a]ign the individual needs of ¢ountri¢s with the gr¢aler needs of thc globc. Sustainability OkOut1 Lecture Also during Sustainability Week, fourteen Year 13 students from Higham's Park School attended the Su51ainabilily Lookoutl Lecture. Thc gucst sp¢ak¢r was H¢nry Dimbl¢by, a fOUnder of restaurdnt ch&in Leon and the Sustainable Restaurant Asso¢i4tion and an expert on food waste. Henry's talk was infomiative and about the logistical and polilical issues surrounding sustainable tIng in schools. Mulliple Mock Interviews and Medi¢$' D*y In November Forest hosted the follow-up session of Multiplc Mock IntcrYic)¥s {MMts) for thc buddi m¢di¢s and dentists who Ilad attended the Medics Day in June. The MM15 provide a vital praeti¢e run for the students who will be r¢quir¢d to participate in these as part of the rigorous interview process for medicine and d¢ntislry Courses. the Wls comprise amund ten rotstional stations where studcnts will b¢ asked lo apply theil judg¢m¢nu empathy, scientifie knowl¢dg¢ and understanding to unfamiliar situations. Our students We joined by pupils from Heathcote School, Davenant Foundalion School: Norlington School and Woodbridge High School. East London Classics Summer School A Fores( Classics teacher has be¢n running th¢ East London Classics Summer School (ELCSS) during the summer holidays for thc last few ycars helping Year 10 stud¢nls from lo¢al slate schools to prepare for their Classics GCSE being iakcn thc following ycar. Th¢ Sumrncr School is suppurted by The Cl&ssical Associalion, the Society for the Promotion of Hcllcnic Studi¢s. King's College London, University Collegc LondoTh and Profcssor Mary Bcard and bas gro i imtn¢nsc populaTity. This ycar th¢ Summer School look place in Hackney at)d included Iccturcs by spcakcrs from tILC Muscujn of London. Cl&ssical 'l"a]ks and the Universities of Oxford, Manchcstcr and King's Collcgc l.ondon (KCL) arross fiv¢ dayb and also includcd a tour vf the C18ssics Department at KCL. The Sununer School wclooincd stud¢nt% tri)m the t&st London area nd elsewhere in London and the Homc Countics including KclD]scott School. Fulhatn Boy5 Srhovl, Harris A¢ad¢my East London, Nower Hill High School. Wycombc High SchiNTrI St Paul's Way Trust School. Impressively, the Summer School was abl¢ to offcr a mixtwe of fvll and half bursaries to 700/0 of the sdentS to enable pariicipalion and engagement in an acadelltically cllriching activity. l-he fivc4lay Iccture scrics alld thc off-51t¢ trip w¢r¢ d¢5igned not only to improve the students, GLSE preparaiions but also to enwurage thcm lo ¢onsider Higher Education alongside more advanced classical routes. ELCSS tric5 to demoDstiate to young pcoplc that thcT¢ ar¢ opportunili¢s availabl¢ lo anyone who is keen to pursue Classical studies at a highcr Icvcl. Donthtion of Euglish Texts to Local Schools Following thc r¢ncwal uf tcxts, Fvr¥st's English d¢partmenl was able to make a collection of books available to local schools including Wanstead High School. Oaks Park High School. George Mitchell School and Walthamstow School for Girls. Remaining lexts plus a number of t¢xibook5 across verious subjects were given to a charity. Book%2Afri¢& Stationery Dtsnation to a Ineal School Th¢ S¢hool w&s also able to donate surplus stationery to a partncr schooL Davenant Foundation S¢hool in Loughton.
FOREST SCHOOL, LONDON GOVERNORS REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Sentor School Churtty Aflernoon With its festival atmosphere and a variety of stalls. just over £1,400 H'as raised in the space of an hour; fant&%tic acbicvement with all the money going to the charities which the Houses had fundrdised for throughout the year and for the School's charities as previously chosen by the pup&ls'. Haven House Children's Hospice. Cancer Research UK Water Aid and WWF. FusioA Thc Ycar 13 studcnts organiscd a thoroughly cntcrtaining ¢vcniThg of music and dancc cclcbrating a panoply of divcrsc backgrounds and hcritagc. showcasing th¢ aniazin8 niu5ical aEhd dancc talcnls across thc School while raising £610 for Thc Sharatk Projcct. a clLarity which aims to support 8lld ctnpow¢r wom¢n exp¢ricllcing di£ficult do]ncstic circuTll.%iance8 to aid wid¢r und¢rstanding of th¢ chall¢ng¢s th¢s¢ wom¢n fac¢. LI Lounge traditionally takes place towards the end of each terni and in December and Marcll Year 12 and 13 dentS came logether to play music of their choi¢¢ lo a 5UPPVrtive uridiencr of Ih¢ir frllow students whilbt raising moncy for charity- 'lthey raised just under £200 for Wom¢n's Aid, a national chariry working for the l&st 50 years to ¢nd domesti¢ abusc against ivomcn and childreLI. Lower School-FindingPuck Thc tickct salcs from the Lower School'5 production of Finding Ptlekwas donated to the charity, Action for Children. MacmillaTh Coffee Morning took place in oober and raiscd jiist over £610 Ceilidh and Soul Night: building on the success of last year's incredibly popular St Patrick's Day Ceilidh, the event this year was expanded to includc thrcc 5tudcnt Soul Band5 culminating with a traditional Irish Ccilidh dancc lcd by Forest's Trad Band. All the pro¢eeds from the ticket sales. whi¢h amounted to £500, were donated lo Kinelika Bloco, a musical charity which helps yoiinE people in London aged 9-25 from diverse backgrounds to build ¢onfJdence resilience and musi¢iartship. Egster Egg Raffle.. A Year 12 student raised just over £293 from running an Easter Egg raffle across the whol¢ school in the nm-up to Easter to raise money for Gut5UK! a charity which funds research into a range of digestive disorders and cancers. House &bng in its second year* providcd an opportunity for Houscs to Work as onc on an cvcnt promoting House ethos and community and raising £651 for the Action for Children charity. The songs were carefully selected in line with the fheme of ¢tlebrating our differences as a diverse and inclusive school community. Hous¢ Musi¢, another stalwart of thc Forest music ¢al¢ndar, raised a phenomenal £1,500 for Restore Th¢ Music, a charity whi¢h provides div¢rs¢ musical insirum¢nts to young p¢opl¢ in ar¢as of high d¢privation. Non-uniform Day was held in D¢¢¢mber with all pro¢¢¢ds going to the charity, L'Afrikani based in Nairobi with which the Sch()ol has a clos¢ conn¢¢tion. L'Afiik#na wotks to improv¢ th¢ ¢du¢ational opportuniti¢s of all age groups who may have missed out or had their educalion disrupted due to poverty, marginalisation, conflict or crisis. Just under £1,600 was raised which will go towards L'Atrikan&'s WOTk in improving the prospecls of the people of Nairobi and surrounding areas. Summer Concert markcd the end of thc rnusical ycar featuring many Forcst School musical cnscmbl¢s such as thc C.hap¢l Ch4)ir, Forest Funks(ers and the Big Band with tick¢t sales raising monty for Great Omond Stre¢1 Hospiial charity. Cop¢land'5 House ¢ollcctcd 400 bouks us¢d or unww]t¢d books ov¢r th¢ coursc ol a w¢ck for thc ChildTCTL'5 Book Pr()jett. a charity 1th akeS books availablc to those who wollld not othen¥È4e have acGess to the.joy of rcading. Doctvr's House ¢ollE¢ttd dvnativns foi th¢ annual Christmas H1esS Fair al th¢ Gr¢¢nhouse Proctic¢ in Hackncy. Th (yreenhouse l¥actice is part of the East London NHS TroundaÉion-I'rust (ELF'f) and serves anyone in the City 4)nd Hackney experiencing homelessness, living in temporary accommodation, or is vulnerably housed. 'fhe bair serves as comprehensive hub of health dnd dSSiStance, offering help to those living in hostels or supported housing, us w¢ll #s thos¢ slecping rough, sofa Sillg. or spending significant amounts of time on the streets. Hot food and drinks were provided on ihc day of thc cvcnL along with frcc haiTculs. wintcr csscntials. toilctrics, vctcrinary advicc. social carc consultation& vactinatÈons. And a range af other health serviccs. A vast array tsf n()n-peri.%h&l)le food itcms ivere donated by Doctor's Housc to help thc Grccnhous¢ Practicc's SCTVICC uscrs to prqiarc for the coldcr months. Hepworth Ilou$e colle¢¢ed lightl), used bras and new pants for Smalls for All, an asnazing Chity which collect5 undenvear for people in Afri¢a and the IJK who cannot afford undcnvear. Giving undenvear may s¢tm like a small geslure. bul il ¢an mgke a hug¢ dill¢T¢n¢e to the rv¢ryday liv¢s of people in low in¢ome ¢ountries and enablcs th¢m to participate tiilly in daily life outside of the home, for example, young girls do not have to niiss several days of school each month through a lack of und¢nv¢ar. Kingsley House Kingsley House launched the annual school-wide Christmas Toy Appeal which seeks presents for childrcn living in a rcfugc and escaping from domcstic violcnce. Thc Appeal is run by the charity Kidsout which distributes the presents. 10
FOREST SCHOOL, LONDON GOVERNORS, REPORT {continu¢d) FOR THE YEAR ENDED 31 AUGUST 2024 'Six? the Musical Performance: a group of Sixth Fom) sthdents orgonised a charity production of -"Six' the musical with a ontrtime perfornianc¢ for thcir fellow studcnts. Thc pcrforniance raiscd just over £222 for Girls Out Loud. a Charity which empowers girls to better channel their potential and make inform¢d. p051tiv¢ life choices. PREP SCHOOL The Prep School was as busy as thc Scnior School in raising mon¢y for charity during the year. In September, they donated Harvest gifts to Hcat or F,.at. a loca] foodbank charity in Walthamstow and donated coats to our whole school wintcr coat collcction in latc Novcmbcr. MoJTiS Hou5c ran a v¢ry 5Uff¢55ful Sho¥bvx Appeal for the Salvation Anny in the run-up to c.hristmas and adv¢Dt calcndJTY werc collecied and dOnad to Treats for Kids before c11stMaS. In Lent T¢rtll. Pr¢p School pupils wcrc busy raising money for their charities through the House Cbarity Disco for thc NSPCC (£900) and thc Dodgcball Toumam¢nl for Cancer Research UK (£I,074). Pupils also took part in the whole school Bvok Collecti()n for a local primary school and organised an E&ster Egg Appcal for Treats for Kids as wcll as .wpporting a Sixth stL]dent"'s charity appeal for GutsUK! tlmugh thc salc of tickcts for an Ea5tcr Egg Rafflc. In TriniLy Temi, pupils from Aikinson and Morris Houses hosted a Charity Afternoon which. together with the Soccer Aid ev¢nL rnised ov¢r £1,300 for UNICEF. BURSARtES Forest School believes it should use its resources lo make the benefLts of a Forest education available to thos¢ for whom it woiild not ordinarily be available. This approach help.s to ensure a ru5¢d di%tribution of funds, whereby mor¢ children from households which cannot afford to pay the full level of fees, are provided with ad¢quat¢ financial support to do so. 11 is a key factor in ensuring that thc School 15 a150 ac¢e5sible to ¢hildren from d¢prived and rnarginalised backgrounds. To 5UPPOrt Ihi3- Forest ¢ontinu¢s to make schools, local authorities and oiher Children's services aware of its Found¢rs' Day Bursary.. designed specifically for childr¢n in carc or with exp¢ricnce of the ¢or¢ sysl¢m Forest continu¢s to work with Royal Nati0J1 Children's SpringBoard Foundation, a social mobility charity, to d¢velop the process of placing looked after children in independent schools on fully supported places and supporting ils iolloul to oth¢r lo1 day g¢hools Continuing it ambition to achieve this wider a¢h, the School ¢ontinues lo scale back its non-means-tested scholarships (where money is awarded on academic or othcr merit). and to devclop its Assist¢d Pla¢es' programm¢ of lo/ m¢ans- tested bursaries. Thes< together with recipients of our Founders, Day bursaries and other IOOO/o bursaries resulted in 37 pupils at Forest in the reporting year on fully funded plac. The purpose, 8s with our other means-lested awards, is intended-. to offer placcs to the cliildrcTh of families on lower incomes to attract able children who will benetit from a Forcst cducation to enrich the educational experience for all Forest pupils by broadening the pupil mix Fot also carries out annuil reviews of its means-test bands al tnsurcs thcy arc incrcased 50 that parcnts who arc cligibl¢ for fillaThcial as5iStanc¢ aY apply for it. In addilion to providing financial assistanct to parents of children on buTSarÈ¢b. the SLhool alq() provides financial assistance towards the cost of additional itcms, such as school uniforni. school bus use and examination fees. Additionally, the School continues to reccivc sponsorship to support part f¢¢s for a 6 FO[Er, from Mulallcy & Co. In addition to providing school fee assi51anc¢ to par¢nts and the range of parthership and community support set out above. the following are other are of broadcr public bcn¢fit- Particwalipzg irt ondhosting sporting even¢s andfixlures againsl mainthinedschoots (mdfor sports organtsoiions.. Forest's 5POrting fixturcs list 15 t)q)ically ¢ompT¢hensiv¢ and eclectic. and pupils participate in the main School sports Hgainst a wide range ofmainiained %hools )nd other youih groups, many of which arc hostcd at Forest. In the reporting year. Forest ¢ot)tinued to host the diamond league athletics meeting at Ashton track and field facility, covering the cost of the track hirc for Wcst Hatrh and Dav¢nanl, both stat¢ maintained schools. The School also hosted a weekly Swimming Perforrnan¢e Outreaeh Programme with pupils joining from West Hatc Wan5tcad, Hcathcotc, and High8rns Park S¢hools. Forest Continued to host all Ess¢x Cup matches played against Stale schools for both football and ¢ri¢keL including an Ul 5 football festival for local school4 including West Hatc Frederick Br¢mtr, Kingsford, Lammas, Buxton and George Mitchell, in order to minimi5e thc costs for Ih¢sc schools.
FOREST SCHOOL, LONDON GOVERNORS> REPORT {£oDtinued) FOR THE YEAR ENDED 31 AUGUST 2024 See above for the support provided by Forest School to pupils in maintained l)00]S in culttwai, artisti¢. drdmatic and musical a¢tiviti¢s. Acting as afo¢alpointforeducaiioiwl, intelleeftlal (mdseholarjj activities and rosearch.. In June 2024. the Head of Y12 from Wanstead High School vistted Forest to me¢t ivith the H¢ad of Sixth Forni to sharc good Practice. The Head of Sixth Trom also Conducted 10 Oxbridge style mock interviews for Wanstead High School in November 2023. The School attends regular events set up by maintained schools to promote the lfrk Scholarsliips and bursaries in parfi¢ular. In th¢ r¢porting y¢ar Ih¢s¢ tncluded visits by the For¢sl Head of Sixth Forni lo Gcorgc Milchcll School in May 2024. As a core member of the Independent Sector Teacher Induction Panel, Forest continues to lead as on¢ of 27 training centres in the country for Early Career Teachers working in indepeThdent schools. Since 2021, Forest has organised and hosted six training days which are attended by >50 early career teachers from the North London and Southeast r¢gi¢)n (of which several were prin)8ry). These days involved intensive pedagogy workshops, visiting speakers and opportunities to sharc and distribut¢ k5t practicc. Contributing (o the ¢hariMbk objeei of relwf." Forest S¢htsol contributes to the charildbl¢ obj¢cl of r¢li¢f through 41 vari¢ty of activities as d¢monstrat¢d ¢arli¢r in this report. Pupils develop a clear understanding of civic duty and the value of public service as a direct benefit io so¢i¢ty as a whole, and a sense of self-discipline and concern for oth¢rs. This all actively en¢oiiraged by the School and this ethos is enshrined in the organisation and aims of the School where pupils are encouraged to take on responsibility for oth¢rs as wcll as for thcm5cIvc5 and to dcrnonstratc cornmilmcnt to thcir School and fcllow pupils. Forest supports many charities and projects in the local community, some on & regular basis and others as they arise in situations of ¢meTg¢n¢y. Each lernt th¢ pupi15 chos¢ a numb¢r of chariti¢5 to 51lPPQrt' Ih¢r¢ ar¢ rcgular charity aftcrnoons held at the School. Enablingsthfflo of ikeir time lo choritoble alOtkr organisali07JJ." The School encourages both teaching and non-teaching statTto offer their time and expertise to other schools and organisations. This is evidenced above in the support given to our local partner schools. A number of For¢sl staff serve as governors of other schools. FUNDIL41SING PRACTICES AND PERFORMANCE Thc govcrnors ar¢ aware of th¢ Charities (Prol¢ction and Social Investtn¢nt} Act 2016 and r¢cognisc the importance of mccting thc highest standards of practic¢ and carc in rclation to fundraising activitics. Thc School has 5igncd up to the fundraising ¢od¢ of pra¢li¢e and has voluntaTily registered with the Fundraising Pr¢fcTCnC¢ Scryicc IFPS). Th¢ School raises funds from Old For¢sters, parents, staff and thos¢ with a personal ¢onnc¢lion to thc School only and docs Thot undcrtakc fundraising ¢ampaigns to m¢mb¢rs of ih¢ publir. Thc School considcrs thc origin of unsolicitcd donations and lega¢i¢s. No ¢omplaints" were r¢c¢iv¢d ¢on¢¢ming th¢ School's fundraising a¢tivities. 12
FOREST SCHOOL, LONDON GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 FINANCIAL REVIEW In¢om¢ of th¢ ¢onsolidAt¢d entity tor y¢ar to 31 August 2024 w&s £34,431,795 (2023: £31,518,776)- After allowing for depr¢¢iation of £1,232,387 the Group made a surplus of £476,478 for the year, of which £242.622 is due to the operation of th¢ S¢hool, ¢x¢luding donations r¢¢¢iv¢d. Flxed #$sets A tull analysÉ5 of fixed Set movements is shown on note X. During the year, the School spent £714,716 on fed asset additions. R¢serve$ poliey At 31 August 2024. thc Cjroup had total resery¢5 01'£16,749.848 of which £29,851 were restricted ndS and £19.681 was dcsignated a% &.%ch()12r.%hip fund. lJnre%tricted genernl fi]nds totalled £16,676,047. Iliere is a deficit on free reserves, dcfincd as unrcstrictrd general fvnds It%s fixed assets net (Jf bank loans of £2,289,744. A key feature of the policy ]% tfj eT)wre compligxbC¢ with the boJ)k-"s ¢ovenants applicable to th¢ outstanding loan. One of the financial covenants requires that the School maintains an EBITDA to Debt Service of at least 1.50 to l. With a EBITDA to Debt Service of 2.78 to I, Ihe bank's covenant has been ¢omfortably meL The reserves policy of the school will be reviewed annually by the Governors. FUTURE PROSPECTS Within the School's financial development plan.. To ¢ontinue with on-going refurbishment of existing facilities To implement the plan for a pavilion on The Park (Forest's sports groundl, currently at pre-planning age To be aware of suitable opportunities that may arise in relation to other independent schools, following the implementation of VAT on school fees plus monitor and react to ttrke impact of VAT on school fees. PRINCIPAL RISKS AI¥D UNCERTAINTIES The Governors have assessed the major risks to which the School is expos¢d and ar¢ satisficd that syst¢m5 arc in plac¢ lo mitigate the School's exposure to the major risks. Such risks ar¢ r¢viewed on a rcgular basis. by the H¢alth. Saf¢ty and Risk Managemeni Committee, in order to gain assurance appropriatr stcpslaction ha5 b¢¢n tskcn to rnitigat¢ any impa¢t that th¢y may have on the School in the fuiure. Impact of th¢ 2024 election outcome on the s¢etor As gnti¢ipat¢d, th¢ Autumn Budget 2024 confimied the removal of VAT exemption for private school fees for terms begimiing on or after l January 2025. Starting trom April 2025, independent schools will no longcr be eligible for business rat¢ relief. Also from April 2025: there will be an increase in employer's national insurance contribulions. The irnpact of these changes may adversely impact upon pupil number4 particularly in the Sixth FOML. 13
FOREST SCHOON LONDON GOVERNORS? RKPORT {continued) FOR THK YEAR ENDED 31 AUGUST 2024 The Governors considered these and other major risks to which the School ffis currently exposed including.. l. Risk of accident involving staff. pupils or visitor 2. School's reputation in the marketplace Compliance with safeguarding regulations 4. Major health epidemic 5. Breach of security due to unauthorised access to the School site and IT systems The key controls used by thc School to manage r&&k include.. l. Regular risk assessments with internaI checks 2. Ensuring good public relations and monitoring examination results 3. Rcgular rcvicw of safeguarding policy and provision of staff training 4. C105c liaison with the Tclcv8JJt hcalth authority 5. CCTV monitoring and cnh8ncemcnt of sccurity mcasurcs. CARBON AND ENERGY REPORTING Th¢ information b¢low 15 ba5cd on thc amount of gas, oil. clcctricity and fucl con5urncd by thc School during the ycar. This was convcrtcd to kilowatt hours using thc wcbsit¢ hiiii"..(tyJrbvii-LiilLiildlvr.L)fL.uk, which uscs convcrsion factors providcd by DEFiL4 as part of its Environmcntal Rcporting Guidclincs. 2024 4,143,771 2023 4,403,944 UK energy use kwh School and L¢isure Centr¢ Gas oil, electriciiv and fuel Associated greenhouse gas emissions Tonnes C02 e ivalent Intensity ratio Emissions per pupil.. 1,501 pupi15 1.019 tonnes 1.069 tonnes 0.68 tonnes per pupil 0.70 tonnes per pupil The inteTJsity ratio measures energy usage compared with an o riate business metric. Governors, duti¢$ under S¢¢tion 172 of th¢ Co ies Act 2006 Section 172(1) of the Companies A¢1 2006 r¢quir¢s that a dir¢¢tor of a company must a¢l in th¢ way they ¢onsid¢r. in good faith, would be most likely to promote th¢ su¢¢ess of the company for the b¢nefil of its members as a whol¢ and ill doing $0 hav¢ regard to.. the lik¢lY ¢ons¢qu¢n¢¢s of any d¢¢ision in th¢ long tern) thc int¢r¢sts of the ¢ompany's ¢mploy¢es th¢ n¢ed to fost¢r the company's busin¢ss r¢lationships with buppliers, customers and others . the impa¢t of th¢ company's operations on th¢ commuoity and the ¢nvironment the d¢sirability of th¢ company maintaining a repulalTon for high standards of business condu¢l, and . the n¢ed to act fairly between members of the company The Governors h&ve regard to the interests of the School's employees and have ensured that the School provid¢s a saf¢, in¢lusive environment for all employees to w'ork within. All employees are treated fairly, slith the consisient appli¢&lion of the S¢hool's rules and policies. fNSET is provided ihroughout the year lo help ensure that ernploy¢¢s ate k¢pt up to date with regulatory changes and emerging issues that may affect them. An Employee Assistance Programme is available to all employees and provides confidential access lo an online source of selt-lielp and wellbeing intorniation. Governors have regard to the need to foster the School's business relalionships with its suppliers. Payments are made to suppliers promptly, in accordance with their paymenl terms and a]1 suppliers axe treated fairly, ieSpeCtive of their size. Potential supplieTS are afforded the opportunity to tender their goods/services to the School and no preference is given to any suppliers during this process. 14
FOREST SCHOOL, LOIYDON GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 STATEMENT OF COVERNORS, RESPONSIBILITIES The Governors (Ivho are also directors of Forest School, London for the purposes of company law) ar¢ responsible tor preparing the Governors, Report and the financial sfatemtnts in aceordancc with applicable law and United Kingdo Accounling Standards (United Kingdom Generally Accepted Accounting Practice). Company law r¢quir¢s th¢ Gov¢mors to prepare financiol statements for each financial year which glve atrue and fair view of Ih¢ slale of aLTairs ot the charitable company and the group and of the income and application of resources. including th¢ in¢om¢ and ¢XP¢JLditure. of th¢ charitable group for that perii)d. In preparing these tinancial statementi the Govemors ar¢ r¢quir¢d to.. Select suitable ac¢ounting policies and then hpply ih¢m ¢onsist¢ntly Observe the methods and principles in the Cliarities SORP Make judgements and estimates that are reasonable aThd prudent State whether applicable UK Accounting standards have been followed. subject to any m24terial departures diselosed and explained in the financial smemenls Prepare the financial statements on the going concern basis unless it is inappropriatc to prcsum¢ that thc charitablc company will continue in business. The Governors are responsible for keeping propcr accounting rccords that disclosc with rca50nablc accuTacy at any time of tbc financiat position of the ch8Xitablc company and cnablc thcm to ¢nsurc that th¢ tinancial statelnttnts cornply wtih th¢ Companies Act 2006. They arc also rcsponsiblc foT safcguarding thc asscts of th¢ charitablc company and thc group aTJd hence for taking reasonablc stcps for thc prcvcntion and d¢tcction of ftaud and othcr irrCgUlltLeS. In so far as we are awar¢: Th¢r¢ is no ieleyanl audit irrfornjation of whi¢h th¢ charitabl¢ ¢ompany's auditor is llnaware,. and The Governor5 have taken all steps thal they oughi lo have tak¢n io make th¢ms¢lves aware of Any r¢levanl audit infonnation and to establish that the auditor is f4ware of that infomiation. In approving the Governors, Report the governor5 also #pprove th¢ Slrat¢gi¢ Plan In their ¢4pA¢ity 48 comp*ny directors. Thi5 report was approved by the Board on 5 D¢c¢mber 2024 and signed on its behalf by.. D. Wilson Chair of the Governing Council 15
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FOREST SCHOOL, LONDON OplllioD We have audited the financial atrm¢nts ofForest S¢hool. London ftir the year¢nded 31 August2024 which ¢omprise th¢ Consolidaied Statement of Fu]ancial A¢tivttie& the Group and ChaJity Balance Shttts. the ConsoliiJat¢d Statemejjt of Cashflows and notes to tbe finaD¢ial statements. in¢luding a summary of significant accounting policies. Th¢ finan¢ia] r¢porting fram¢work that has been applied in ihew pr¢paraiion is appli¢abl¢ law and Unii¢d Kingdott) A¢¢ounting Standards, including Financial Reporting Standard 102 The Fin¢mciuIRepoTtingStonddUpPII¢b1¢in ihe uKandRep¥blof]eIOKd(VnLted Kingdom G¢n¢ra1lyAcc¢pt¢dA¢countingPra¢tij. In our opinion, the f2noThcia] statements.. give a ttue ]d fair view ofthe state ofthe grow)'s andof ibe parent charitable company's affairs as al 31 August 2024 and of the group's n¢t movement in funds. ineludin8 the income and expendithre, for the ycar then ended- have been prowiy pr¢pared in accordance with United Kingdom G¢n¢rally Apted Ac¢ounting Pra¢ti¢¢' and have becn pr¢par¢d in ac¢ordan¢e with the requirnnents of the Companieb Act 2006. Basls Cor opinio W¢ ¢onducte41 our audic a¢cordan¢¢ with Int¢n)ational andardS on AuditiDg (UK) IISAS {UK)) and applieabl¢ law. Our r¢SnsIbilitieS wider thos¢ standards ar¢ furth¢r d¢s¢rib¢d in the Adilor'S responsibilities for the audit of the fiDancial stat¢rnents section of our rep)rt. We are independent of the group in accordance with thc ethical requirements that are relevant to our audit of the fmancial stateni¢tklS in the UK ineluthtsg the FRC'S Bthical Standard. and we have fvlfilled our oth¢T ¢thi¢a] r¢sponsibiliries in accordance with these require]nents. We believ¢ that tbe auditevid¢ttce we have obtsitied is sufficxent at appropriate to provide ab&%is for our opiniotL C•Jh¢lv$ions rtlitiDg tts golng eonter In audi¢ing the fancIal stat¢m¢nts, w¢ hav¢ concluded that the Governor5. use of the going concern b&si5 of accountin8 in the preparation of the fmancial ateMentS is appropriate. Basedon thework we haveperfonned, we havenot identifirdany tnalevial Uncertalntitsttlatllto ev¢ntsor conditions thal individually or collectively, ttLay c&%t sigllificant doubt on the group'"s attd pareni ¢hasitsbl¢ company's ability 10 ¢Ontitiue as a gotng ncern for a period of at least twelve months from wh¢n the finan¢ial statem¢JJts authoTis¢d for Issue. Our respJnsibiliues and th¢ resp)nsibJliti¢s ofth¢ Qov¢rnors with r¢sp¢¢t to going wneern are described En thc relevant scrtions of tl)i5 Teport. Otbtr information The Govcrnors are responsible for the other itifomiation. The othei inforniation comprises th¢ inforniaiion in¢lud¢d iti the Chair. Siatewent alld GoveLllors Report. Our oplnion on th¢ fjllancial ststemenis does noi cover the oiber inforniaiioD an except to tbe eMent otherwise explicitly stated in OUrrett, we dts not express ally forn of assurall¢e ¢on¢lusion thereon. In nn¢¢tiOn Mryth our auth"t of the financial statements, our Tesponsibility is to read the other infomiation and, in doiD8 So, consider whethetthe other informatioll is materially in¢onsistenl withth¢ fu)all¢ial stat¢ments orouTknowl¢d8e Obtaied inthe audit orodi¢nwis¢ opp¢ars to b¢ niatCTialty misstated. If we i&ntify such mat¢ri81 inconsistencies or apparent Tnaterial mis5tatcments, w¢ are requircd to d¢t¢rmine wh¢th¢r there i5 2 material misstatement in the fancial statements or a material misstatement of the other InforntioD. I£ bas¢d on th¢ work we have rfOntd. we conclude iliai there is a niateriaE misstst¢men¢ of this oiher inforn)ation, w¢ are r¢quired io report that fact. We havc nothing to rtport in this regard. Oplnlon8 oihtr mtttrs prtseribed by the Companie$ Aet JI06 In our opinion. based tb¢ work undertaken the ¢OUTS¢ of th¢ audit.. the inforniaiion giv¢n in th¢ Gov¢mors' R¢port {whi¢h includes the strate8ic report and the directors, report prepared foT th¢ purposes of company law) for th¢ fman¢ial y¢ar forwhi¢h th¢ fiuaThciaJ statements are prepared is cojjsistent with th¢ fan¢la1 statem¢n¢s' and the strategic T¢POIt and th¢ dire¢tors' r¢port includ¢d within the Governors, Rerrt)rt have becn prepared in acwrIlan with opplicablc Icgal requiremcnts. M4tlers on which we are required to report by exeepti• In the light of the knowledgc and understanding of the group #nd th¢ pmt Charitable ¢ompay and its environment obtaId in the course of the audiL we ILave not idelhfified nvdterial misslatements in the GornOr$, R¢p)rt (whi¢kn in¢orporaies the strat¢gicreport and the directors, reThrt). W¢ have Dothing to r¢port ill r¢spect of tbe following matters tn relation to which the Cornpanic5 Act 2006 requIS us to report to you if. in our opinion.. adequate ac¢ountJllg r¢cords hav¢ noi b¢¢n k¢pt by di¢ parent cbaritsble company: or the parent thIlable wmpamy fthancial sratem¢nis ar¢ n(pt in agr¢¢m¢nt with th¢ accounting r¢corth and r¢¢urns; or ¢ertaEll disclosures of Govemors, remuneration specified by law are J)ot mod¢: or we havt not rcccived all thc infonnation and explallonS we require for ow auth"t. 16
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FOREST SCHOOL, LONDON Rtspollslbllltlu of Governors, for ttLe fAn¢}91 stateD)eDts As ¢xplaitted more fvlly in th¢ Gov¢rnors' reswnsibilities siatement set ollt on pag¢ 15, the Governors (Wno are also tbe direetors ofthe ¢han"tsble compaAy for the purposes of company law) ar¢ r¢spo]Jsibl¢ for th¢ pr¢paratioD of th¢ financial statemcnts and fw being satisfi¢dthatthcygiv¢ atN¢ and f8irvi¢w, and t()rsu¢h int¢rno1 ntrol as th¢Qov¢rnors d¢tennine 18 nece5saryto enabletheprwation of finan¢ial stsiemen(s that are free from maieria] misslatemenl i¥hetherdue fraud orerror. Inprcpanng the financi81 statements, the GovernoTS areresponsible for sessing the 8TOUP'S andthe parent charitable cornpany's sbility to conlillue&s agoin8 concern, th'sclosing. as applicable. matter5 relatedto going concerll a[ll51gthc going Gonctrnbasis ofaccowJtiDg uD]css the fjovernors either illtend to liquidate the group OF the pareDi cbatitable company or to c£a5e operatioijs, OT have no reali5ti¢ alternative but to th) so. Auditor'5 respoDsibiIitie5 for the audit of the fillancial statcmtllt5 Our objectives ar¢ to 0btainr&Qllable J55ufdTLC¥ about whetheithe fittancial stat¢¥ as d whole are fr¢¢ from matcriol nJisslal¢m¢Thl, whether due to fraudoreOr. audto issu¢ attauditor's rep)n thai xn¢lud¢souropiDioo R¢asonablc asswancc 14 ahÈghlevcl of a4suranct. but 15 Ilot a guarantc¢ that an audit conthiL(ed in aGwTdan¢e with ISA% {IJK) will a]ways detect a material misstatrment when it exists. Misststements can arisc from fraud or crror and arc considued material if. illdividllaily or the ag8re8ate, they could Teasonably bc expected to influenc¢ th¢ ¢¢onomic d¢cisions ot user5 iaken on thc basis ofthese finaneial statements. Irregulariti¢s. includiug fraud )r¢ instaurx5 of nonvwllplianc¢ with laMF alld r¢8ulations. We design proctduTe5 in line with our r&wsibilitics, outlined abDve, to detect materia] misstatements in re5ped ot iFresuiaTities. 1cluding tral. TbE exient to which our pro¢edures are capable of detecting 1c8u18[1tie$. includjng fraud is (ktailed below". Bdon our under5tandin8 of tbe group. the parent charitable company alld the environment in which it operate, we identified that th¢ pritL¢ip81 risks of nc>n-¢Ot)Ipli8nce with18ws and regwlations r¢lated to The Edu¢ation Ilnd4)¢ndent S¢hools Standards) R¢gulations 2014, 58fe8uardm8 re8ulation5. h¢alth alld safety requirem¢llE GDPK ¢mploymethl law and Chlty Law and we Considered the extent to which non-compliance migbt bave a material etrect on thc fJnaD¢ial siat¢m¢nts. W¢ also considered those law5 and regulations that have a du¢¢t irnpa¢t on th¢ pr¢paTation of the financial statements such as the Companies ACL 2006, the Charities Act 2011. the Statunent of Recommended Practi¢¢ for Charities ISORP 2015) (s¢WJEth'tlQD, ¢fftdiv¢ l January 2019), atsd consid¢r other faaors su¢h as payroll taxes and VAT. W¢ ¢vaiuat¢d mana8¢ment's incentives aDd oppottimities for fraudulertt mthjipulatffton of the fancIal statements (including the risk of override of e4)ntrols1, and deteTmincd that the princal risks were related to P05tirJg inapprepnate journal entries at)d Matsageme bias certain accounting estimates and judgements. Audit piottdutes perfornd by the ellgogem¢mteaJn included.. nspECting COTrespondEnCe with regulator5 andtax authotities., Insp¢¢ting th¢ outcornes gf any regulatory inspectii>ns; Discussions Mith management in¢luding coJJsid¢ration of known or susp¢d¢d instan¢¢s of non-¢ompliall¢¢ with laws and regulation and fraud. Evaluating mAnagem¢nt's ¢on(rols d¢S1¢dtO PT¢v¢nt and (kte¢t iJT¢glllarittes", Identifying and tESting journa]s. using data tal)nicS to focus oll hi¥her risk en1ries' alld challenn8 assumptions and judgements made by matsagtmtnt in their accounting estillLates. Because ofthe inherent limitatiotts of all audit, there is aiisk that we will notiktect all irregulinties. itL¢ludu)gthos¢l¢athng to amat¢rial misstatellleDt ill th¢ fitWLcial 5tat¢ments or non.¢ompliance with regulatton. This riqk in¢rc3S¢S th¢ rnorc that complizncc wirh a law or regulation is Itlnoved froJJJ thr ¢VEnlts and trans*i¢lions trfl¢cled ]n the financi&l slaiemenls, as we will be less likely to become aware of vf DOn-4X}pIIall¢e. The rk is also greater r¢gar4]ing xrRgvlariti¢s o¢curring due to fraud rathcr thall crnTrr. a5 trJud involv¢$ intentional ¢oncealm¢nt. forgcry. collusion. nmission or rnisrepresentstiOTL A fiutheJ des¢riprion of our responsibilitics for the auth"t of the fllmncial ststements is located on the FinatiGial Reporting CouDcII's wcbsite at.. lvww.trc ui .uklddIlu1S[trs nbibdiliek This desctiption part of our auditOl'5 tEWrt. Use ofour report This report is made solely to the clwitable companls M¢be[S. as a bo(ty. in acrordatsce with Chapter 3 of Pan 16 ofthe Compames Act 2006. Our aiidit wothhas beellundertaken so thatw¢ might stateio the ¢haritabl¢ ¢ompany's m¢mb¢rs thost matt¢rs we are requtr¢d to State to thern iTh an Audjtoes TeptsTt and for tto other pttrpose. To the fullest extent ptn)Jitted by law. we do not accept or ass¢ r¢spo]JsibLti(y lo atkyone olh¢rth8J) thc cbmtabl¢ Company and thc c]witable company's Memb5, &$ a body, tor out audrt worl for thi5 t¢rt. ot for the opinions we have fom]¢d Trac¢y Young (S¢nior Statutory Auditor) For and on behalf of Hay$m LLP. Statutory Auditor Date.. 10 Queen Street Plac¢ London EC4R IAG 4 March 2025 FOREST SCHOOL, LONDON 17
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (ineorporating ineome Alld expellditure *eeounl) FOR THE YEAR ENDED 31 AUGUST 2024 De$ignAttd Non charitable trading activilies Unrestricted Fund$ Restricted Fllnds 2024 2023 Notes INCOME FROM: Charitable activities= Tuition tees Other school income 31,775,772 822,912 31,775,772 822,912 29.385.867 685.940 Donations and legacies Oiher irading activities Investmenls 82,580 256.543 312.154 82,580 1,433.906 316,625 3,473 1.340,326 103.170 1,177.363 4,471 Total Ineome 33.249.961 1,181.834 34.431,795 31.518.776 EXPENDITURE ON: Raising funds 327,437 1.025,778 1,353.215 1.242,600 Charitsble activities 32.597.322 4,780 32,602,102 29,790,546 Total Expenditure 32,924,759 1,025.778 4,780 33,955,317 31,033,146 Net income before transfers 325,202 156.056 (4,780) 476,478 485,630 Transfers 13 156.626 (156,626) Net movement in funds 481,828 (570) (4,780) 476.478 485,630 Fund balallces broughtforward at I Scptcmbcr 2023 16,213.90Q 24.839 34,631 16,273.370 15.787,740 Fund balances carried forward at 31 August 2024 16,695,728 24,269 29.851 16,749,848 16.273.370 All activities continuing. There are no r¢¢ognis¢d gains or losses other than those disclosed above. No Summary In¢orne and Expenditure Account ha5 been prepared as this infomialion is clearly identified in the above statement. The notes on page5 22 to 37 forni part of these fman¢ial statements. Th¢ analysis of comparative figur¢5 for 2023 are shown in note 19. 18
FOREST SCHOOL, LOI4DON Company Number: l)0429150 BALANCE SHEETS AS AT 31 AUGUST 2024 Group Charity 2024 2023 2024 2023 Ntste8 FIXED ASSETS Tangible fixed assets Investments 21.777.330 22,295,001 21,751.705 22.265,192 21.777,330 22,295,001 21,751,707 22.265,194 CURRENT ASSETS Stock Debtors Cash at bank and in hand 30,532 819,529 16,294.473 34,753 761,189 2,657.277 28.249 1.383,401 15.408.129 32,066 938,160 2,208,515 io 17,144.534 3,453.219 16,819.779 3,178,741 CREDITORS: Amounts fAlling due withln one year li (12,605,372) (5,438.l29) (12,279,261) (5,158,681) current liabilities 4.539,162 (1.984.910) 4,540.518 (1.979,940) Totsl assets less current liAbllities 26.316,492 20,310.09I 26,292,225 20,285,254 CREDITORS: Amounts fAlling due afttr more than one year 12 (9,566,644> (4,036,721) (9,566,644) (4,036,721) NET ASSETS 16.749,848 16,273.370 16,725.581 16,248,533 FUNDS u[eStrIcted General . Designated Non-charitable trading activities Restricted 13 13 18 14 16.676,047 19,681 24,269 29,851 l6.194,219 19.68l 24.839 34.631 16.676,047 19,681 16.194.219 19,681 29.851 34,631 16.749,848 16,273.370 16,725,581 16.248,533 The parent charity incotne for the year was £33,406,587 (2023: £30.555,584) wlth a surplu5 of £477.048 (2023: £485.189). The finom¢ial statements were approved and authorised for issue by the Board of Governors on 5 D¢¢¢mb¢r 2024 were signed below on its behalf by.. D. Wilson Chairman The notrs on pages 22 to 37 forn] part of these fmancial StatnentS. 19
FOREST SCHOOL, LONDON CONSOLIDATED STA TEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2023 Not Net cash provided by operations 600,677 2,844,836 Cash flows from investing Activities: Interest receivable Interest payable Purchase of fixed assets Proceeds from the sale of t-]xed asseis 316,625 (199,612) (?14.716) 103,433 (203,276) (1.693,001) 4,312 Net txsh {used in) investing activities (597.703) (1.788,532) Cash flows from fjllxncing activities: Bank loan rcpavmcnl Ncw comp051tc fccs rcccived Rclcasc of compositc fcc5 Amounts accrucd to composition fee contracts Finance lease Tepayments (496,154) 14,823.047 (560.767) 54,430 (186.334) (496.154) 357.038 (246,604) 47.783 (197,367) Net cAsh used ID fmancing Activities (13,634,222) (535.304) ChAnge in cash nd cash equivalents in th¢ reporting period 13,637,196 521,000 Nct cash and cash cquivalcnts bCgIr]n# of period 2,657.277 2,136,277 Nct cash and cash cquival¢nt$ at end of period 16,294,473 2.657,277 RECONCILIATION OF NET MOVEMENT IN FU]¥DS TO TrIET CASH PROVIDED BY OPEIL4TIOIYS 2024 2023 Net movement ID fund5 DcprcciatioTr Dividcnd and Intcre5t receivable Intcrcsl payablc Dccreas&(incr¢as¢) ill sto¢ks Decrease/(increase) in debtor5 Increase in creditors Loss on di5posa] of fixed assets 47&478 1.232,387 {316,625) 199.612 4,221 (58,340) (937,056) 485,630 .156,209 (103,433) 203,276 {6,388) {315.041) 1.420.803 3,780 Net cash provided by Dperation5 600,677 2,844.836 20
FOREST SCHOOL, LONDON CONSOLIDA TKD STATEMENT OF CASH FLOWS FOR THE YEAR E]WED 31 AUGUST 2024 ANALYSIS OF CHANGES IN CASH AND CASH EQUIVALENTS AND NET DEBT At I September 2023 At 31 August Other Changes C*shflows 2024 Cash and c&qh equivalents 2,657.277 13.637,196 16,294,473 Total cash and cash equivalents 2.657,277 13.637.196 16.294,473 Bank loans due <1 year Bank loans due >1 year Finance leL8e obligations Composife f¢¢s due <1 }'eor Composite fees du¢ >1 year (496.154) (2,811,538) (4fv1.421) 186,334 (295.863) (8,222.619) (406.823) (6,094.091) 496.154 (496.154) 496.154 (496.154) (2.315.384) (278.087) (8,518,482) (6,500.914) Total (1,817,522) 2,974 (1,714,548) 21
FOREST SCHOOU LONDON ACCOUNTINC POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 Accounting Policies Basis Df Preparation The finantial siatements have been prepared in accordance with ihe Financial Reporting Standard appli¢able An the UK and Republic of Ireland (FRS102), the Statement of Recomniended Pracli¢e applicable to charities preparing their accounts in accordance wiLh the Financial Reporting Standard applicablc in thc UK and Republic of Ircland (FRS 102) (2nd Edition). The accounting policies set oui below have been applied in prcparing the finaE]cial statements. The fllLall¢iaJ statetnents are drawn up under the historical cost convention. The School is a Public Benefit Entty registered as a charity and company in England and Walc5. it wa5 rcgistcrcd OD 6 February 1947 (charity number 312677 and company registration numbcr 00429150). Basis of tonsDlid#tion These financial statements consolidatc thc rcsults of the School and its wholly-ovmcd subsidiary Sylvcstrian Entrrprlses Limiled on a line by linc basis. In accordancc with Soction 408 of th¢ Compani¢5 Act 2006, no scparatc Stalement of Financial Activitics is presented for Forest School Limitcd. Th¢ PanI charity iucomc for Ihc ycar was £33,406,587 (2023: £30,555.584) with a surplus of £477,048 (2023-. £485,189). The Charity h&s taken advantage of the exemption available to a qualifying cntity in FRS 102 from the T¢quiretn¢nt to present a charity onty Cash Flow Ststement within thc consolidat¢d financial statcmcnts. Going concern Having ieviewed tbe funding facilitics availabl¢ lo thc Sch(Trol iog¢th¢r with the ¢xp¢¢led ongoing d¢m#nd for pla¢¢s and the School's fjjture projected cash flows, lh¢ Governors hav¢ a r¢a50nabl¢ eKp¢¢tation that th¢ S¢hool has adequate resources to continuc its activitics for th¢ for¢s¢¢abl¢ futur¢ and ¢onsid¢r that there were no materia] uncertainties over the School's financial viability. Accordingly, th¢ Governors ¢onlinu¢ to adopt the going ¢on¢¢rn b&sis in preparing the fmancial stalcmcThts. Crititjl accounting judgements and key sources of estim*tion uncertainty In the application of thc accounting policies, the Governors ar¢ r¢quir¢d to make judgemenL estimat¢s, and assumptions about thc canying Yaluc of a55cts and liabilitics that aT¢ not T<adily apparcnt Irom other sour¢es. Th¢ estimates and underlying assumptions arc bascd on histori¢al ¢XP¢Tiell oth¢r f&¢tOTS that 41Te consid¢r¢d to b¢ refievanL Actual rcsults may diffcr from thcsc cstiTnat¢S. The estirnatcs and undcrlying aSSUTnptions arc rcvicw¢d onguing basi8. Revisions to accounting estimgktes are recognised in the pcriod in wlLich thc cstimatc 15 vis¢d it the ffvision allecls only Ihal perÉoQ or in ihe period ofthe rcvision and futUTC pcriods if th¢ Tcvision arr¢rlcd current ¥md ththre periods. In the view of thc GovcTnors, no &S5UTT]pLions concerning the future or estimation uncertainty affecting assets or liabilitics at the balance sbcct dat¢ arc likcly to result in & malerial adjustment to their carying amounts in the next financial year. Fees and similar income Fees receivable and ¢harge5 for 5ervic¢s and use of th¢ premises. less any allowance8 scholarships. bursaries granted by the School against Éhose fees. but including ¢ontribution r¢c¢ived from restricted nds, are accounted for in the period in which the service is pro¥ided.
FOREST SCHOOL, LONDON ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 DoDgtions Donations ar¢ a¢¢ounl¢d tor as and when ¢ntiilement 8ris¢s. the amount Can be r¢liably quantili¢d and th¢ e¢onomAc benefit Éo the SchooL is considered probable. Investm¢n¢ in¢om¢ Inv¢stm¢nl in¢om¢ from bonk balances is aOUnted for on an accruals basis. Expenditurt Expendifyre ts a¢¢ount¢d for on an ac¢ruals basis and ittecoverdble VAT is included with the item of expense to which it r¢lal¢s. Gov¢rnan¢¢ ¢osts ¢ompris¢ the ¢osts of running th¢ School, including costs of complying with ¢onstitutional and statutory requirements. Fin4n¢ial InrUMents Basi¢ fman¢ial instrum¢nts a initially r¢¢ognised at transaction value and subsequently me&sured at amortised cost. Finan¢ial assets held at amortis¢d ¢ost ¢ompris¢ ¢ash at bank and in hand, togeth¢r with trade and other d¢btors. A spe¢ifi¢ provision is made for debts for which recoverability is in doubL Cash at bank and in hand is defined as all cash held in instant a¢$S b4mk a¢¢ounls 41nd used as working capital. Financial liabilities held at amortised cosl ¢ompris¢ all treditors except social security and other taxes and provisions. T*ngible Fixed As$ets Fixed ass¢ls with a cosl of l¢ss than £1,500 ar¢ nol capitalised but charged direct to the Statemenl of Financial Activiti¢¥ as 4)n ¢xp¢ns¢ in the year of purchase. Professional fees arising in respect of the design or planning of building Morks ar¢ only ¢apithlis¢d as fix¢d assets if the bliilding projecÉ has commenced prior to the balance sheet date. Depre¢i#tion Depr¢¢iation is provided to wri¢¢ off th¢ cost of tangible fixed assets over their estimated useful lives at the following rat¢s'. Fr¢¢hold buildings Fre¢hold improvements Fixtures, fittingb and ¢quipm¢nt Motor v¢hicl¢s and boat Computer equipm¢nl Iyo straight line 50/0 straight line 2/0 reducing balance 250/0 reducing balance 250/0 Straight line A tull year ot depr¢¢iation is ¢harged in th¢ y¢ar of purch&se for all &ssets brought into use during the linancial y¢ar. Sto¢k$ Sto¢ks ar¢ valued at th¢ lower of cost and net r¢alisable value. Debiors School fee and other debtors are recognised at the settl¢m¢nt amount du¢ after any trad¢ dis¢ount offered. Prepayments are valued at the amount prepaid net of any trade di5COUllt5 due. 23
FOREST SCHOOL, LONDON ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2024 CredAtors and provision5 Creditors and pmvisions are recognised where the School has a present obligation r¢sulting from a past event thai will probably result in the transfer of funds to a third party thv dur to s¢Nlc ihc obligation can bc mcasurcd r e%tim*d rcliably. Creditors and provisions are normally recognised at their settlement amount aftcr allowing for aÈ]y Irade discounts due. [Se nd Hire Purchase As%ets obiained under hire purchase c41ntracts and fmance leases are capilalised as tangible awt5. Financ¢ leases are t]iose where.%ub.stantially all the bcn¢fits and risks of ownership are assumed by the Scbool. Obligalions under such agreements are included in creditors net of the finance charge allocal¢d to future peTiods. Thc financc element of the lease payment is charged to the incorne and ¢xpenditur¢ a¢¢ounl on a straight line basis. Operating LeAsts Rentals applicable to operating lease4 where 9ubstantially all of the benefits and risks of ownership r¢rnain with the Icssor, are ¢harged io the income and expenditure account as incurred. Employet Benefits sIrr tenn beprfits Short tem b¢n¢fils including hollday pay are recognised as an expense in the period in which the service is r¢¢eived. Employee tenninalion benefEIs T¢miination ben¢fxts are accounted for on an accrnals basis and in line with FRS 102. Pensiorys Th¢ rotnpJny opeTatrs two contributory pension schcmcs for substantially all staff. The'l eachers, Pensi(In Srhcm¢ 15 a muIti-cpI0Y¢r pcDsion schcmc. It is not possible to identify the S'chool""s share of the underlying 8ssCt5 twd liabilitics of thc Tcach¢rs' Pcnsion Schcmc on a COD3iStCk]t and rcasonablc basis andthercfor4 as required by FR8102, ur¥ounts foi th¢ 5¢h¢mc as if it wcrc a dcfincd contribution scheme. 'I'he S'chool's contributions, which llre i accordance with the T¢comm¢ndatlOll5 of thc Govcrnmcnt Actuary, arc charged in Éhc pcriod in which tlie salari&8 10 whi¢h th¢y rclat¢ arc payablc. The S¢hool op¢rnt¢5 a dcfjnd contribution pcn5ion scheme for non-teaching staff and the pension charge repr¢s¢nts the atnounts PV¢yablc by th¢ Sthool to thc fund in rc5PCCt of the y¢ar. Funds R¢slrict¢d funds are Ihos¢ Wh¢ ih¢r¢ arc sp¢cific donor r¢5triclions as to their use. Designated funds are thos¢ whi¢h hav¢ b¢¢n ¢arn)arked by thc Govcrnors for specific purpose5. Unrestricted tunds can be used at the discretion of the Gov¢rnors. 24
FOREST SCHOOL, LOIYDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 TUITION FEES 2024 2023 Fces receivable Lc5s'. bursarL¢S, scholarships and allowances Add: bursaric5 and srhvlarships fvnded by ]tstricted funds 34,920.483 (3.144.711) 32,345,140 (2.959.377) 104 31,775.772 29,385.1167 OTHER SCHOOL INCOME 2024 2023 Registration fees Deposits retained School b8 144,800 289,500 388.612 147,000 180.000 358,940 822.912 685.940 OTHER TRADING ACTIVITIES 2024 2023 Lettings- school Trading activities- Sylvestrian Enterprises Limited Sundry income 219.819 1,177.363 36.724 212,937 1.105,917 21,472 1.433,906 1,340,326 25
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ANALYSIS OF TOTAL EXPENDITURE 2024 Staff Costs 2024 Other Costs 2024 2024 Tolal Depreciation Raiyingfuftds Publicity costs Trading subsidiary Finance Cosrb 91.421 1.017.236 236,016 91,421 .025.778 236,016 8,542 1.344.673 8,542 1,353.215 Charit4ble acliviiies Teaching Welfare Pr¥rnises Support costs 14.417,492 284.194 578.438 5,293,111 2,471,174 1759,046 3,830,331 1.744.471 265,767 17.154.433 3,043,240 5,366,1147 7,037,582 958,078 20.573.235 10,805.022 1.223.845 32.602,102 20.573.235 11149.695 1,232,387 33,955,317 2023 COMPARATIVES 2023 Staff Costs 2023 Other Costs 2023 21ll3 Total Depreeiotion Rai5ingfund3 Publicity Costs Trading subsidiary riy)ancc costs 43,388 960,379 236,463 43,388 962.749 236.463 2,370 1.240,230 2,370 1,242,600 Charitsbleactivit Teaching WcIf¢ Prcmiscs Support cibsls 13,437.519 125,209 529,388 4,830.683 2,445,409 2.494,140 3.299,722 l.474.637 265,084 16,148.012 2.619.349 4.717.865 6.305.320 888.755 18.922,799 9,713,908 1,153,839 29,790,546 18.922.799 10,954.138 1,156.209 31,033.146 26
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ANALYSIS OF TOTAL EXPEIWITURE (continued) FINAIYCE COSTS 2024 2023 Bank and loan interest Bank rharges 199,612 36,404 203,276 33,187 236,016 236,463 ANALYSIS OF SUPPORT COSTS 2024 2023 Stsff costs Administrative & rr costs Gov¢rnan¢¢ {audit & l¢gal f¢¢s) 5,293,111 1,560,898 183,573 4.830,683 .152,569 322,068 7,037,582 6,305,320 STAFF COSTS 2024 2023 Th¢ staff costs are analys¢d as follows.. Salaries Social security Pension costs Redundancy and terniination payments 15,582,605 1,743,409 3,101,589 145,632 14,326.601 1,649,715 2,777,492 168,991 20.573,235 18.922.799 2024 2023 The number of employees whose emolumenls exc¢¢ded £60.000 during the year was as follows: £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,000 £ioo.001-£iio,000 £110.001 . £120,000 £120,001- £130.000 £130.001- £140,000 £140,001- £150,000 £150,001 . £160,000 £220,001- £230,000 £230,(NJI . £240,000 34 16 27
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 STAFF COSTS (continued) 2024 2023 AverJge staff numbers were: T¢¢hing Nou leaching 218 204 218 199 422 417 Avcragc staff numbcrs cxpressed as fijll time equivalents were: Ttaching Non IcachiThg 138 138 ioi 244 239 Tbe total Tcmun¢ration paid to key management personnel in the year w&s £1,683,476 {2023.. £1,644,664). T¢ch¢rs' Ptn5ion Scheme Th¢ S¢hool participatcs in th¢ Tcachcrs. Pcnsion Scheme {'the TPS") for its teaching stsff. The pension ¢harg¢ for th¢ year includcs contributions payable to the TPS of £2,047,704 (2023.. £2,072,601) and at the year-¢nd £251,480 (2023.. £243,442) was accrucd in r¢spcct of contributions to this scheme. The TPS is 8T) unfund¢d multi-cmploycr dcfmcd bcnefits pension scheme governed by The Teachers, P¢nsions R¢gulations 2010 (as am¢nd¢d) and Thc Tcach¢rs' Pcnsion Scheme Regulations 2014 (as amended). Members ¢ontribul¢ on a "pay as you go" basis with contributions from m¢mbers and the employer being credited to th¢ Ex¢h¢ou¢r. R¢tiT¢m¢nt and oth¢r pcnsion bencfits are paid by public funds provided by Parliament. The employer ¢onlribution rat¢ is s¢t by th¢ Sccrctary of State following scheme valuations undertaken by the Government A¢tuary's Depthm¢nt. The most rec¢nt actuarial valuation of thc TPS was prcparcd &s at 31 March 2020 and th¢ Valualion R¢port was publish¢d in Oclob¢r 2023. Following the McCloud.judgem¢nl, th¢ r¢rnedy propos that whcn b¢ncfits bcconic payable, eligible members can select to receive them from either th¢ r¢fomi¢d or l¢gh¢y s¢heTnes for the wiod l April 2015 to 31 March 2022. The actuaries have assumed that members are likely lo ¢hoosc thc option that providcs thcm with the greater benefit4 and in preparing the 2020 valuation has valu¢d th¢'gr¢at¢r valu¢. b¢ncfits forgroups ofrelevant members. The employer contribution rate for the TPS is 26.601 and employers ar¢ also requircd to pay a scheme administration levy of 0.0811/• giving a lolal employer ¢ontribulion ral¢ of 28.68Q/o of mcmbcr's pcnsionable salary. 28
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STA TEMENTS (¢ontinued) FOR THK YEAR ENDED 31 AUGUST 2024 STAFF COSTS (continued) Defined eontribution $¢hemt Thc School oprrat¢s a definEd c()ntribution pengiun Scheme for non-teaching staff and those teaching affWh0 have optcd out of th¢ T¢achrr5 Pcnbion SLhrm¢, th¢ nsiOn charge represents the amounts payable by the School to the fuThd in rcsprct of th¢ y¢ar. Thc pension ¢harg¢ lor Lhe iT]Lludrs contributions payable to this scheme of £963,886 (2023.. £704,892} and at th¢ y¢aE-¢nd £124,267 (2023: £91,201) was aCCed it) respect of contrlbutions Éo ihis scbcm¢. NET MOVEMENT IN FUNDS 2024 2023 The nel movement of funds is staled after ¢hargingl(¢rediting) (before VAT).. Auditor5 remuneration- audit fe¢ (group) other services 34,000 4,500 (219.819) 31.500 4.250 (212.937) Rent receivable TANGIBLE FIXED ASSETS Freehold buildings and imprt)vements Fixtures, equipment and motor v¢hiele$ Freehold IAnd Computers Totsl COST As at I Sepiember 2023 Additions 10,000 39.358.399 618,691 2,706,643 23.394 4,676,601 72,631 46.751,643 714,716 As at 31 August 2024 10,000 39.977.060 2.730,037 4,749,232 47,466,359 DEPRECIATION As at I September 2023 Chargc for ycar 17.808.253 953.714 2.354,968 181,685 4,293,421 96,988 24.456,642 1.232,387 As at 31 August 2024 18,761.967 2,536.653 4,390,409 25,689,029 NET BOOK VALUES As at 31 August 2023 10.000 21,550,146 351,675 383.180 22,295,001 As at 31 August 2024 10.000 21,215,123 193,384 358.823 21,777,330 Included in fixturcs aTLd cquipment are ast5 with cost broughi foTward of £117.050. additions of £4,358, disposals of £Nil. deprcciation brought fOard of £87.241. a dcprcciation chargc of £8.542, dcpTeLiulion reversal on di5POsa15 of £Nil and a net book value of £25.625 which are owned by the trading subsidiary. The other assets are all used for charitsble purposes. Included in comput¢rs and ftt¢S and equipment are assets accounted for as finance leases with a net b(k value of £175.839 (2023: £351,675). The depreciation ¢harge in the year tor these assets totalled £175,836 (2023.. £175.836). 29
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 TAXATION There is no liability for taxatioll as the h0o1 is a registered charity. INVESTMENTS Investments consist of two ordinary shores held. at cost, in Sylveslrian Enletpri5es Limited, see note 18. 10. DEBTORS Group 2024 ChArity 2024 2023 2023 Fccs Amounts due from subsidiary undertaking Prcpaym¢nt5 and accrucd incomc Othcr dcbtors 84.122 115,601 84.122 608.850 588,104 102,235 115,601 227.375 553.685 41,499 591.188 144,219 574,216 71,372 819,529 761,189 1,383.401 938.160 ii. CREDITORS: Amounts due Iwithin one year Group 2024 Charity 2024 2023 2023 Bank loan (see note 12) Fee deposi(s F¢es received in advance Coniposition fees {s¢e note 12) Trade creditors Finance leases Othcr taxes and social security AccNals Other ¢r¢dilors 496.154 98,500 747,181 8.518.481 436,118 160.568 497,529 868,345 782.496 496,154 109.500 586,234 295.863 1,008,280 199,506 483,427 1,558.873 700,292 496,154 98,500 747,181 8,518,481 431,534 160.568 427.000 844,191 555.652 496,154 109,500 586,234 295,863 1.006,819 199,506 428,274 1,534,639 501,696 12,605.372 5,438,129 12,279.261 5.158,685 12. CREDITORS: Amounts du¢ after one year 2024 2023 Group and ¢haTity Finonc¢1¢8ses Less in¢lud¢d in ¢urr¢nt liHbili¢ies 278,087 (160,568) 464,421 (199,506) 117,519 6,500,915 632,825 2,315,385 264,915 406,823 553,445 2,811,538 Composition fees Fee deposits Bank loans 9,566,644 4,036.721 A bank tlIlty for £4.3 million was tak¢n out in 2021 with Barclays Bank Plc. This is repayabLe over 10 years at £496,154 per annum. Inl¢r¢sl is ¢harg¢d at 2fy/0 above th¢ Bank of England Base Rate. This loan is s¢¢ured on th¢ School""s Propcriy. 30
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STATEMETr4TS (eontinued) FOR THE YEAR ENDED 31 AUGUST 2024 12. CREDITORS: Amounts due after one year (Continued) Bank 108 The bank loan is du¢ tor repayrnent os tollows.. Within on¢ to two years Within two to five years 2024 2023 496,154 1,819,231 496,154 1315,384 2,315,385 1811,538 Repayable within one year 496,154 496,154 2,811.539 3.307,692 12. b) Composition fees Parents may enter into a contract to pay the School for luition fees in advance. The money may be returned subject to specific conditions on the receipt of one terni's notice. Assuming pupils will remain at the School, advance Fees will be applied as follows.. 2024 2023 Within on¢ to two y¢ars Within two lo five years 4,749,586 1,751,328 154,659 252,164 6,500,914 406.823 Repayable within one year 8,518,482 295,863 15,Ol9,396 702,686 The movements during the year were as follows.. Balance at I Sept¢mber New contracts Amounts accrued to contracls 702,686 14,823,047 54,430 544,469 357,038 47,783 15,580,163 949.290 Amounts utilised in payment of fees (560,767) {246,604) Balance at 31 August 15,019,396 702.686 31
FOREST SCHOOL LONDON NOTES TO THE FINANCIAL STA TEMENTS {continued) FOR THE YEAR ENDED JI AUGUST 2024 13. UNRESTRICTED FUT4DS Balance I S¢ptembeT 2023 Transfer5 B¢twee Fund5 Balance 31 August 2024 Incom¢ Expendlture General funds 16.194,219 33,249,961 (32.924,759) 156.626 16,676,047 Non4h#ritabl¢ trading a¢liviti¢s 24.839 1,181,834 (1.025.778) (156,626) 24,269 D¢sl%nt¢d fund$ S¢holarship and bursary fund 19.681 19,681 16,238,739 34,431,795 (33.950,537) 16,719,997 The scholarship and bursary fund consists of amounts put aside by the Governors for future scholarships wid bursurit%. No Irdn.%lers ivereTndde lo unre.%lricled generdl lunds duriE]¥ the ycar in re%peLt (If.8chnlarship¥ ()rbur50rics granted. Non-charitable trading relates to the activities of the trading subsidiary. Sylvestrian Enterprises Limited. Compttrotive movemertts are showll in nole 20. 14. RESTRICTED FUNDS Balance I September 2023 Balnce 31 Au2llSt 2024 Inctsme Expenditure Transfer Organ Fwid Tyl¢r Fund Wolfson Foundaiion D¢aton Fund Jago Fund Colin Smith Prize 73 376 18,882 220 780 14,300 73 376 14.202 220 780 14.200 (4,680) (100) 34,631 (4,780) 29,851 The Organ Fund was establlshed specifically to enable a ntw instrument to be constrn¢ted in the Chapel and for subscqucnt impTov¢mcnt5. The Wolfson Foundation Fund is for the rerbishMent of science laboratories. The other restricted funds are for the provision of various bursari¢s and prizes for academic a¢hiev¢ment. Comparalive movements are Shown in nole 20. 32
FOREST SCHOOL, InNDON NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 ANALYSIS OF NET ASSETS BETWEEN FUNDS Net eurrent ssetsl (liabilities) Tangible rixed assets Illg term liabilities Total Restricted Funds Unrestricted - Genera] Funds - Designated Fund NonQharitable trading 29,851 4.490,986 19,681 (1,356) 29,851 16,676,047 19,681 24,269 21,751,705 (9,566.644) 25,625 21,777,330 4.539.162 (9,566,644) 16,749.848 J5b. COMPARA TIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS Net eurrent assetsl (liabilities) Tangible fixed assets Long term liabilities Tolal Restricted Funds Unrestricted - General Funds Unrestricted - Designated Fund Nonlharitable trading 34,631 (1034,252) 19,681 (4,970) 34,631 16,194,219 19,681 24,839 22,265,192 {4,036,721) 29.809 22.295.001 (1,984,910) (4.036,721) 16,273,370 16. CAPITAL COMMITMENTS 2024 2023 Contracted for but not included in the accounts 17 RELATED PARTY TRANSACTIONS No related p8ty transaction5 took place duriThg the year. The Governors did not receive any remuneration during the year, but one Governor wa5 reimbursed for expenses of £109 (2023.. three Governors were reimbursed £859) covering the cost of travel. 33
FOREST SCHOOL Lof4DON NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. SUBSIDIARY UIIDERTAKING Sylvestrian Enterprises Limited (Sylvestrian) is a wholly owned subsidiary undertaking of Forest School. London and is registered in England and Wales. The r¢sults of Sylvestrian tor the year ¢nded 31 August 2024 were follows.. 2024 2023 Turnovcr from continuing activities Direct costs 1.177.363 198.137) 1,105,917 (82,847) 1,079,226 ,023,070 Administrative expenses Int¢rest received (927.641) 4,471 (879,903) 581 Operating profil Gift aid payable to Forest School 156.056 (156.626) 143.748 {143,306) (570) 24,839 442 24.397 Profit broughi forward Retained in the sllbsidiary 24,269 24,839 At 31 August 2024, Sylvestrian had net assets of £24.269 (2023: £24,839). Sylvestrian Enterprises Limited 1$ a company limited by share capital registered in England. company number 03323866. 34
FOREST SCHOOL, LONDON NOTES TO THE FIIYANCIAL STATEMETrrrs (continued) FOR THE YEAR ENDED 31 AUGUST 2024 19. COMPARATIVE CONSOLIDATED STATEMENT OF FII¥ANCIAL ACTIVITJKS Design#ted Non charitsble trAding Restrieted ctivitie8 Funds Unrestri¢tsd Funds 2023 Notes INCOME FROM: Charitable acliviltes: Tllilion fees Other s¢hool income 29.385.867 685,940 29.385.867 685.940 Donations and lesles Oth¢r trading activities Investments 3,369 234,409 102,589 104 3,473 1.340,326 03.170 1.105,917 581 Total Income 30,412,174 1,106,498 104 31.518,776 EXPENDITURE ON: Raising funds 279,851 962.749 1.242,600 Charitable aclivitiel 29.790.342 29.790,546 Total Expenditure 30.070.193 962,749 204 31.033.146 N¢t in¢ome before IrAnsfers 341.981 143,749 (I(TrD) 485,630 Transfers 13 143,306 (143,306) Net movement in funds 485,287 443 (100) 485,630 Fund h8]ances brought fonwd at I September 2022 15.728,613 24.396 34.731 15,787,740 Fund bAlan¢u carried fonYArd #131 August 2023 16.213,900 24,839 34.631 16,273,370 35
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 20. COMPARATIVE FUND MOVEMENTS UNRESTRtCTED FUNDS Balance I September 2022 Trgnsf¢rs betwee funds Bal4Dee 31 August 2023 Expendithre GcDcral funds Non-charitable trading activities 15,686,507 30.412,174 (30,047.768) 143.306 16,194,219 24,396 1,106.498 (962,749) {143,306) 24,839 Designated funds Scholarship and bursary fund 42,106 (22.425) 19,681 15,753.009 31,518,672 (31.032,942) 16.238,739 RESTRICTED FUNDS Balgnee I Stp¢ember 2022 Bwlance 31 August 21123 Income Expenditure Transfer Organ Fund Tyler Fund Wolfson Foundation D¢afon Fund Jago Fund Colin Smith Prize S¢holarship and bursary nd 73 376 18,882 220 780 14.400 73 376 18,882 220 780 14,300 (ioo) (104) 104 34,731 104 (204} 34,731 36
FOREST SCHOOL, LONDON NOTES TO THE FINANCIAL STATEMENTS (continutd) FOR THE YEAR EIYDED 31 AUGUST 2024 21. COMPARATtVE ANALYSIS OF CHANGES IN NET DEBT Bal*n¢e I September 2022 Balanee 31 August 2023 Ca8b flows Other non- asb fbangej Cash and cash equivalents 2.136,277 521.(MlO 1657,277 Tolal cash equivalents ash 2.136,277 521.000 2,657,277 Bank loans due <1 year Bank loans due >1 year Finance lease obligations Composite fees due <1 year Composite fees due >1 year (496,154) (3.307.692) (661.787) (260,863) (284,020) 496.154 (496,154) 496.154 (496,154) (2.811.538) (464.421) (295.863) (406.823) 197.366 (35,000) (122,803) Toiai (2.874,239) 1,056,717 (1,817,522) 37
FOREST SCHOOL, LONDON NOTICE OF ANNUAL CENEIUL MEETING Notice is hereby given that the seventy-eighih Annual Gencral Mc¢ting of Forcst School. London. will take place on Thursday 5 December 2024 at 10-30 for th¢ following purpos¢s: Apologies for absen¢e 2. To approve the Minut¢s of ih¢ Annual Gen¢ra] M¢¢lirtg held on W¢dncsday 6 Dcccmber 2023 3. To consider any matters arising from th¢ minutes 4. To ratify tlie appointmenl mk# by writt¢n r¢solution at th¢ Governing Council on 20 March 2024, of Neena Lall. Also to ratify the appointmenL approved by the Governing Council at its mccling OTh 26 Septrmber 2024, of Richard Mann 5. To approve the Annual Report and financial Siat¢m¢nts for the twelve month5 cndcd 31 August 2024 and the Balallce Sheet at that date and the Reports of the Governors and th¢ Auditors 6. To appoint the Auditors foT the ensuing year 7. To consider any other business By ord¢r of Council D Coombs Se¢r¢tary A member enlided io allend and vote at ihe obove-mentioned metling rnay appoint a prory lo altend and vole instead ofhim orhey. Aproxy must be a member of the A$srtialiort. 38
FOREST SCHOOL LOh'DON MINUTES OF THE 771b ANNUAL GENERAL MEETING OF THE GOVERNING COUF4CIL HELD ON THURSDAY 6 DECEMBER 2023 Pre$ent: David Wilson (Chair) Geraldine Atlee Jane D&vies William Fuller will1M Kennedy Penny Oates Simon Perry Paul Sampat l. Apologies.. re1Ved fro Elwin Ckett, Saniya Hadi, Glynts J¢nkinson, Steven Benyman Minute5: the minut¢s of the 76th Annual G¢neral M¢cting wcrc tak¢n as rcad and approY¢d unanimolY. 3. Matters arising: there were none. 4. To ratify the ippointment, approved 4t the Governing CouN¢ll on 29 JUD¢ 2023, tsfYtmi$i Gibbons At the proposal of the Chair, the appoinlmenl was ratified without objection. S. To ¢ot)sider the r¢-ele¢tion of William Fuller, Geraldine Atle¢ and Simon Perry At th¢ proposal of the Chair, Ihe re-¢l¢ctions w¢re agr¢¢d unanimously 6. Report & Accounts for 12 month5 ended 31" August 2023 At thc proposal of thc Chair, it was unanimously agrccd ihat thc Rcport and Accounts for thc 12-month period ended 3 1st August 2023 be adopted. 7. Appointment of Auditors At the proposal of the Chair. il was resolved unanimously that haysmacintyre be appoinled a5 Auditors for the year ending 3 1st August 2024. 8. Any other business Th¢r¢ was none. TheT¢ being no fvrth¢r busin¢ss th¢ m¢¢ting ¢los¢d. 39