THE GODOLPHIN AND LATYMER SCHOOL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Registered Charity No: 312699
Haysmac LLP
Chartered A¢countants
Registered Auditors

THE GODOLPHIN AND LATYMER SCHOOL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
CONTENTS
Page
Report of the Sole Trustee
i-io
Report of the independent auditors
11-13
Statement of financial activities
14
Balance sheet
15
Statement of ¢ash flows and notes
16
Notes to the flljancial ststements
17-30

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE
FOR THE YEAR ENDED 31 AUGUST 2024
The Godolphin and Latymer School Foundation ('the Foundation,), being the Sole Trustee of the Godolphin and Latymer
School ('the School,), presents its Report alld the School's accounts for the year ended 31 August 2024.
GENERAL INFORMATION
Status, AdmfinistrAtlon and Sole Trustee
Foundedby deed on21 December 1703, the School is a registered cbarAty (number: 312699). The Foundation is a company
limited by guarantee (registered number 3598439 and charity Dumber 1073924).
Directors and Trustees- Governors of the School
The following served during the year ended 31 August 2023 and since the year end:
L Magrill
N McLaughlan
Miss J McNeill
Ms T Meller
Mrs E Watson (retired 26.06.2024)
S Davies (Chair)
Ms S Dayies
M Esiri
Dr M Hill (resigned 30.04.2024)
Mrs S KiDross
K Knibbs
Clerk to the Governors
MT8 D M Lynch
Executfive Officers
Head
Bursar
Senior Deputy Head (Academic)
Deputy Head (Pastoral)
Sehool address and ProfessloDal Advisers
Dr F M R Ramsey
Mrs D M Lynch
Dr S P Hamett
Dr J C Carter
The Godolphin and Latsryn¢r School
]ffley Road, Hammersmith,
London , W6 OPG
www.godolphinandlatymer.com
Bankers
HSBC plc
599 Fulham Road
London SW6 SUA
Auditors
Haysmac LLP, 10 Queen Street Place, London EC4R IAG
Solieltors
Veale Wasbrough, Orcbard Lane, Bristol BSI 5WS

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (tontlnued)
FOR THE YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
History* Constltutlon and Trustees
The School is a day school for girls aged between I l and 18. The charity was founded by Sir William Godolphin by a
Deed dated 21 December 1703, further regulated by the will of Elizabeth Godolphin made in 1724, and augmented out of
the endowment of the Latymer Foundation in 1903. The charity was regulated by a Scheme created on 23 December 1903
whi¢h was replaced by a Scheme created on 29 September 1977 with amendment on 14 July 1986. A further amendrnent
was made on 14 April 1999 under which the Foundation became the Sole Trustee of the School, and its directors became
the School's Governing Body. Additional amendments were made on 9 May 2005, to allow the purchase of indemnity
insurance on behalf of the Governing Body, and, on 20 June 2008, regarding the School's borrowing powers.
The Governing Body of the S¢hool may comprise one Governor, nominated as an Heir of Sir William Godolphin (a
Nominated Governor) and not more than nineteen Governors co-opted by resolution of the Governors An office at the time
(Co-opted Governors).
All Governors are appointed for four-year temjs. A Nominated Governor is eligible for reappointmenl without limit. Co-
opted Governors are eligible for reappointment for a further tern) of four years and, in exceptional circumstan¢es, for a
further four-year terni or tem)s.
The members of the Governing Body who served in the year under review are shown above under 'Dire¢tors and Trustees
Governors of the School,. The Directors of the Foundation are also its Members and serye as Trustees of thal charity
and as Governors of the School.
Governanee ind Management
The Governors, as the Trustees of the Foundation, are legally responsible for the overall management and Control of the
School, and meeL as a minimum, during each school tem.
Day-lo-day managemenl
The day-to-day education and pastoral care of pupils and the appointment and management of teaching staff is delegated
to the Head Mistress, Dr Frances Ramsey, who is supported by a Senior Leadership Team. Responsibility for the non-
teaching staff and for the School's financial management and premises is delegated to the Bursar, Mrs Diana Lynch.
Meetings of the Govemors are attended by the Head Mistress, the Bursar and the Deputy Heads, Mrs Anna Paul (Senior
Deputy Head, Pastoral) and Dr Sara Harnett (Deputy Head, Curri¢ulum and Academic Matters) and they and other senior
members of slaff attend meetings of Governors, committees.
The Governors Consider that they> together with the He&d, the Bursar and the two Deputy Head's comprise the Key
Management Personnel. The Governors give of their time freely and the pay and remuneralfton of the Head and senior staff
is set by the Senior Salaries Committee and is kept under annual review. A number of crlleria are used in setting pay:
nature of the role and responsibilities
competitor salaries in the region
the sector average salary for comparable positions
trends in pay
In recent years, flexible pay in the sector has affected ihe ease of recruitment to certain roles and the S¢hool intends to be
in the upper quartile for pay for senior roles in the independent school sector.
The Governors have given delegated authority to the Head to pay higher salaries for exceptional candidates where this is
in the interest of the School,

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
For matters concerning the School other than those for which the Head Mistress is responsible, the Govemors have
established committees wilh spe¢ifi¢ objectives. a minimum of h¥0 Governors sit on each committee. As appropriate,
these committees either pass down decisions to the School's executive management under delegated authority from the
Governors, or refer matters for de¢ision to the Governing Body. The princlpal committees are:
The Educatlon Committee, which considers matters relating to the curriculum and, more widely, lo teaching, learning
and pastoral matters generally.
The Finance and General Purposes. This Committee meets termly to assess the School's financial position and to
review the capltal and operating budgets, cash forecasts, management accounts. &udited accounts, the annual report
for presentation to the Govemors and the fvnds available for prizes.
The Health, Safety and Risk Management Committee has responsibility delegated from the Governing Body to review
any major risks associated with the operation of the School and the Foundation.
The Policy and Governan¢e Commftttee, which ensures a common understanding of the major issues that the School
faces and co-ordinates a consistent approach to these between the Oovernors, committees and the School's Senior
Leadership Team, The Committee also recommends appointments of a Head Mistress, Governors, the Chairman and
Deputy Chainnan of Governors, and considers membership of Governors, committees.
Recruitmenl and Iraining ofGovernors
Before seeking new Governors, the Policy and Governance Committee will be guided by the relevant competence,
experience and specialist skills sought by the Governing Body from any new Governor. New Govemors are appointed
only after interview by the committee and after consideration of the committee's ftndings by all Governors. After
appointment, all new Governors are given appropriate guidance on all aspects of the School's operations and their own
role and responsibilities. access is provided to outside courses on Trusteeship and relaled matters.
Prineipal risks and unceriainlies
The Governing Body is responsible for overseeing the risk management process condu¢ted by the School. Review of risk
is delegated to the Health, Safety and Risk Management Committee. the Head, Bursar, Designated Safeguarding Lead and
Senior Teacher (School Organisation) are members of this committee. A formal review of the major risks envisaged for
the School (including regulatory and compliance matters) is undertaken a1￿UallY by the Senior Leadership Team, under
which the systems and procedures that control and miligate risks are considered and discussed as necessary. The results
are then reviewed and discussed further by the Health, Safety and Risk Management Committee before being reported to
the full Governing Body.
The Governors have assessed the major risks to which the School is exposed and are satisfied that systems are in place to
mitigate the School's exposure lo the major risks. Such risks and controls are reviewed on a regular basis in order to
mitigate any impact that they may have on the School in the future.
The main risks that the Governors have identifled are those of:
The climate of antipathy towards independent schools. This gives rise to a range of risks: from the purely financial,
such as the loss of charitable relief on business rates; to the operational, with the introduction of VA T on school fees
(which could make them unaffordable for many parents). It is difficult lo identify effective control measures but the
School continues to work with the Independent Schools Council and other representative bodies to defend the
charitable status of independent schools and publi¢ise the positive contrlbution they make. The School is also looking
for ways to reduce costs, generate additional in¢ome and fundraise An order to offset any fAnan¢ial impact.
The potential damage to the School's reputation. The School's succes5 is built on its reputation for the edu¢ation and
wellbeing of its pupils. The key Controls include the maintenance of high academic standards within a dlscipllned but
friendly atmosphere, the close monitoring of major risks and a review of all areas of school life by the Senior
Leadership Team, strong pastoral communication and action (both pre-ernptive and reactive) and a strong relationship
with parents and the wider community to mitigate potentlal impa¢t. The public profile of the School As monitored and
public relations advisers in reputation and crisis management have been appointed.

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
The Godolphin And Latymer School Bursary Fund (the"Bursary Fund")
The Bursary Fund is a separate charity (charity number 1187911) whose aims include the advancement of the charitsble
objects of the School. The Bursary Fund makes sums available to the School each year to enable the School to supplement
the means-tested bursaries that it awards. it has also loaned funds lo the School and the Foundation at commercial rates of
interest to help fund development of the School's facilities. The Governors appoint two Trustees to the Bursary Fund, and
other Governors may sC￿e as Trustees provided that Governors do not ¢onstitute the majority of the Fund's Board of
Trustees.
OBJECTIVES A]YD AcfiviTIES
Objeets
The 'Objecl' of the Foundalion (the School's Sole Trustee) As lo advance the education of ihe public, under which it is
empowered to provide for the instruction of the School's pupils and their 'spiritual, moral, mental and physical
training,. The School's Object as a charity, as set out in ils Scheme, is 'the provision and conduct of a day school for
girls,.
Aims
The School's OVe￿iding aim is to provide the girls with an outstanding education. Through the lessons and activities in
which they participate, Ihe girls learn for life, They develop habits of mind that promote curiosity and initiative,
inlellectual rigour and independence of thoughL reflective learning and flexible thinking, the ability to maintain an open
mind and to reach a balanced judgement. They achieve excellent examination results and follow the higher education
pathway of their choice at leading institutions in the UK and beyond.
The School recognises that all the girls are different and it aims to provide each one with a stimulating and enjoyable
education. It offers an exciting range of intellectual, creative and physical challenges and opportunities, encouraging the
development of individual passions and particular skills alongside the self-esteem and confidence with which lo succeed
in unfamiliar situations.
The School's long hislory of providing education for girls from a wide range of backgrounds creates an enriching and
inclusive atmosphere. Within this principled, caring and friendly community, girls learn to lead, to work together for
mutual benefiL to communicate ¢learly and to forge firn) friendships.
The SchcM)l encourages girls lo learn about local, national and global issues, frorn which it believes they become
considerate, compassionate and courageous young women who fvlly expect to tske active responsibility for ihe community
and the environment in which they live, as well as for themselves, iioih now and in the future.
Objeetives for the Year
Principal Activity
The School offers to all the girls both a broad and balanced academic cutTiculum and extra-¢urri¢ular activities, where both
are considered to be necessary components of a good general education. The academic ¢urri¢ulum includes the option of
the International Baccalaureate. The School seeks to Challenge the girls intellectually and to encourage independent
thought, by making available to them a wide range of academic and non-academic opportunities, including outreach
programmes which provide involvement with, and support to, the wider community.
Public Benefit
The Charities Act 2006, having withdrawn the legal presumption that education in itself offers benefjt to the public at large,
placed an obligation on the School to demonstrate that it provides 'Public Benefit, as part of its provision of education as
a Charity in a fee-charging environment.
In setting the School's obje¢tives and in their establishment of management of the School, the Governors have p&id due
regard to the Public Benefit guidance published by the Commission.
Grant Maklng
The Governors recognise thAt independent school fees are at levels which may exclude many children from applying for a
place, but they are committed to widening access to ihe education offered. Accordingly, they advertise the availability of
bursary awards. The value of any award is detern)ined on a means-tested basis and reviewed annually.

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
For the year ended 31 August 2024, 79 means-tested bursaries were awarded during the year to the value of £1,808,467
(2023.. £1,733,876).
Community and Partnershlp Ilnks
The school supports a programme of meanlngful, mutually-benefjcial partnerships with organi5alions including academic
enrichment for primary school children, access to teaching, resources and, and access to Higher Education support for
secondary school pupils, and access to sports facilities for local primary schools. In addition, sludent-led initiatives raise
awareness and support for local and international charitable organisalions.
Our Bridge academic enri¢hment programme for Year 5 girls and boys from lo¢al primary schools was launched in January
2020 with 44 children and continued remotely during the national lockdowns, expanding lo 79 children from 37 primary
schools for January 2023. Pupils attend one Saturday morning each month for Maths and English lessons and other subjects
on rotation, aThd the programme includes a booster week in August and one during the October half-lem) break to help with
I l+ preparation. Lower Sixth Godolphin students provide invaluable learning support for pupils and teachers during the
Saturday morning sessions. As a result of the programme, two-thirds of the students from our 2023 programrne applied for
places and bursaries at independent secondary schools in London and eight joined Godolphin and Latymer in September
2024, following in the footsteps of the eight currently in Year 7, Year 8 and Year 9. Seventy-six students have enrolled in
the 2024 programme, Towards the end of August during the summer break we welcomed over 20 Year 10 students to our
Bridge Seniors programme of talks and workshops. Students joined us from Kenstngton Aldridge Academy* The
Hurlingham Academy, Fulham Cross Girls School, Saint Thomas More Language College, Saint Gabriel's College and
Kingsford Community School. Running over five afternoons, the programme provided a series of tslks and workshops
from Godolphin teachers to enrich and extend understanding a¢ross a range of dlsciplines, and also offered support to
students and parents who are considering applying for a bursary to join the Godolphin and Latymer Sixth Form.
The School continues to be a joint educational partner with the Kensington Aldridge A¢ademy (KAA). The aim of the
partnership is to share best practice regarding educational ex¢ellence across both schools. Most recently this has included
a visit by Godolphin staff to observe the PSHE programme at KAA, while KAA students were invited to take part in
various activities organised by the Higher Education and Careers department, including Godolphin's Universities Fair,
which was also attended by a number of Students from several other local schools.
We were pleased to host students and staff from West London Free School, KAA and The Cardinal Vaughan Memorial
School atour inaugural university interview event. Students were given the opportunity to interact with fellow sixth forniers
and specialist teachers from G&L and other lo¢al independent schools through taking part in a series of prh¢tice interviews
for their chosen university subjects.
Teachers from the Maihs department Continue to link up with Magdalen College School io ¢onduct mock interviews for
state school students from across the UK, while five of our Year 12 students ran our longstanding weekly lunchtime Latin
club for Year 5 and Year 6 pupils at John Betts Primary School.
Every Monday mornlng boys and girls and the PE teachers from West London Free School Primary and Earls Court Free
School Primary take part in wall climbing, trampolining and dodgeball in our Sports Hall. Th¢ school continues to host the
London Youih Games netball and hockey trials for local slate primary schools and our Sixth Forniers and students from
Year 10 and I I help umpire the matches. Pupils from Flora Gardens Primary School took part in a sports activities
celebration organised and overseen by a team of Year 12 and Year 9 Godolphin Students. Members of our Social Impact
Committee also devised and ran a drama and musical theatre workshop for Year 5 and 6 children from Flora Gardens,
while we marked the beginning of British Science Week in March with seventy flve Ye&r 7 students from Sacred Heart
School taking part in a STEM fixing and repair event.
Every Friday during terni time, the school hosts the Ancient World Breakfast Club (AWBC) which has a national reputation
within the fields of Classics and Ancient History with a membership of over 250 fiDm across west London.
Several members of staff have laken part in the Royal Springboard Foundation's SpringForward programme, acting as
mentors and provlding guidance for care-experienced students as they embark on the unlversity application process. A
number of members of stsff also serve as governors at local schools, including.. St Peter's C of E Primary School; the
Brackenburyj Kenmont and Wendell Park Foundation. and Westminster Academy.

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
Over the year students pursued a host of volunteering opportunities in their local communilies as part of their Duke of
Edinburgh award schemes and collectively were awarded a certificate for donating 4,238 hours of voluntary servi¢¢
between l April 2023 and 31 March 2024. Students sthdying the International Baccalaureate have organised and tsken part
in a number of activities as part of their Creativity, Action and Service (CAS) projects. The Social Impact Project invites
students to design an individual or group project that has the potential to improve the lives of others and includes proposed
impact of the project, implementation strategy, the likely costs, and plans to sustain the project beyond the students, time
t the school. Projects Included a Musical Theatre Workshop for students at Flora Gardens Primary School. a Sports
Festival and equipment collection for Flora Gardens. and an Art Workshop for a local dementia group.
Our Sustainability Committee organises regular second-hand clothes and accessories sales with all profits going lo the anti-
fast fashion charity TRAID. In the last year the school community has also run campaigns to support charities including
British Red Cross. Movember. Hammersrnith and Fulham Dementia Action Alliance. Hammersmiih and Fulham
Foodbank. Hammersmith and Fulham Family Services. and the Salvation Anny. In addition, the school community raised
over £20,000 for the six student House charities: Alice's Arc, Blue Cross for Pets, Great Orniond Street Hospitsl, the Opie
Jones Foundation, Sibs, and the Williams Syndrome Foundation.
Public exsminAtions
The A Level cohort achieved excellent results with 400/0 of grades awarded A* and 820/0 of grades awarded A*/A. This
year's IB candidates again a¢hieved ex¢eptional marks, with an average score of 40 points out of a totsl 45 points. These
A Level and IB results have enabled 940/0 of pupils to secure their first-choice university placq either in the UK or abroad.
The GCSE results were also excellent: at the time of writing, with some reviews outstanding, 920/0 of grades were awarded
Grade 918 and 98 % were graded 9-7.
Curriculum and Teaching and Learning
The School is committed to offering a broad and relevant choice of subje¢ts and the curriculum is kept under regular
review. We are Continuing to explore ways that our curricular, extra- and super-curricular provision enable our pupils to
develop agile, flexible ways of thinking and ¢reative problem solving abilities. Therefore, we are embedding recent
curriculum changes, such as the expansion of the Year 7 Philosophy and Religion scheme of work to broaden awareness
and understanding of other perspectives, and our Applied Drama ¢urriculum which aims to promote essential skills of
collaboration and self-regulation. Our Futyres Programme encourages pupils in all year groups to tackle real-world
challenges with an emphasis on reflective thinking and cooperation. An exarnple of this is the 2023-24 Mentorpreneurship
Programme run in-house for Lower Sixth students in partnershlp with the London School of Economics, in which students
developed projects that aimed for a positive impact in ihe local community.
Thc school continues to contrlbute to training events for teachers and leaders from other Schools. In 2023-24 we worked
with GSA to deliver Isqam Level l and 'Every Child Finding Their Own Path- supporting all children in our care on their
journey toward adulthood,. We are continuing our relationship with GSA in this coming a¢ademic year, hosting an Aspiring
to Head of Departmeni day in March and are also looking forward to hosting ECT Regional Training days for Islip.
The Role of Pastoral Care
The school's pastoral approach places strong emphasis on the values thal we seek to instil within our pupils such as curiosity
bout the world around them, compassion for others, engagcmenl with the wider community, Creativity and resiliencc.
The pastoral curriculum is designed to make students aware of the context of the world around them. For example, we
address a wide range of current affairs topics as well as having a more formal curriculum on issues such as modern-day
slavery, human rights and ¢itizenship. This year external speakers included.. It Happens, who delivered a range of talks on
topics including consent, digitsl relationships, and the transition lo university. other external speakers included: The Sex
Lies and Love Project, who ran a workshop with Year 12 students on relationships and pornography. Hibo Wardere, who
spoke to our Sixth Formers about her campaigning for #nofgm, and ECL Educate Ventures, who ran AI workshops for
students in Years 9, 1 l and 12.

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (contlnued)
FOR THE YEAR ENDED 31 AUGUST 2024
In January 2024 we saw completion of our recent building project and opening of the Alison Paines building. This has
provided the school with an enlarged Sixth Form cenlre, a new Librdry and additional space for dining and meeting. The
construction of a new link building has improved flow between the main buildings at the centre of the school site, improving
flow and accessibility. The adjacent courtyard spaces have been re-landscaped providing valuable outside space. The new
facilities have been enjoyed by pupils and staff and added greatly to the school's estate.
Opportunltles beyond the classroom
We had a fi]11 and very busy extra-curricular programme and a whole host of House competitions, STEM Week
Languages Week, that all encouraged participation by each and every student.
In sport there was a full fixtures list throughout the year and opportunities for all abilities to benefit from the astro-pitches,
courts and sports centre that ￿ all on site, while pupils rowed on the Thames nearby. This year our l* XI hockey team
played competitively in the tier I national league and progressed io the regional semi-finals of the Ul 8 indoor ¢ompetition.
Our U18 and U15 netballers were ¢rowned Middlesex champions while our winning 1st vItt rowers broke the course
record at the Schools, Head of the River. At the National Schools Regatta our J16 IV were gold medal winners, National
Champions and winners of thc Anna Fangen Cup. In cricket we were once again named as one of the top 20 girls, cricket
schools and our Ul 5$ were crowned national champions at the Lords, Lady Taverner competition,
'Emilia'_ was directed, produced, and perfornied by senior drama students; the whole of Year 7 took part in the Christmas
production of 'Scrooge and Alan Ayckbourn's comedy 'Confusions' was perfonned in the promenade Style. This year's
school musical was 'Beauty and the Bea5t'. More than 300 students entered Grade 3 - 8 Speech and Drama exams with
990/0 gaining distinction at Grade 3.
Over 550 individual music lessons took place weekly and numerous choral, instNmenlal, and orchestral groups look part
in a full diary of Concert performances in our purpose built Bishop Centre and at other venues such as St James's Church,
Sussex Gordens, and the Chapel Royal, Hampton Court Palace. The art department staged exhibitions throughout the year
and this year's Lower School exhibition was a 'Printmaking Spectacular,. There were over 90, mainly sludent-run, weekly
clubs and societies including Dissection Club, Feminist Society, British Sign Language Club, Film Production Club, and
the Politics Society whose visiting speakers this year included Lord Vaizey and Jonathan Aitkins.
Our trips included language trips to Spain, Gem)any, Italy and France, a Classics trip to Athens, & History trip to the
battlefields in Belgium and France, a skting trip to Verniont, a rowing camp in Ghent and a pleihora of UK visits and
excursions. This year 106 students successfully completed the Bronze DofE award. 78 took part in the Stlver award. and
21 in the Gold award and we ran expeditions to the Chilterns, Cotswolds, New Forest, Purbeck Hills, Brecon Beacons and
the Peak District.
Higher Education and Career$
As in previous years, in 2023-24 our Higher Education team successfvlly supported applications to UK universities and
beyond parti¢ularly to the US, Canada but also to European destinations. Specialists supported Art Foundation, applications
to Drama School and Conseryatoires, medi¢al, veterinary and dentisty applications, alongside students applying to Oxford
and Cambridge. We hosted representatives of UK and overseas institutions who gave advice on admissions to our pupils
and those from our slate parther schools where possible. Our Sixth Fom] students who applied for courses requiring an
interview attended an Interview Evening attended by several schools and hosted at Godolphin and Latymer. In addition,
the Medics attended an evening to prepare them for their medical interviews. Our medical applications coordinator
established a popular medi¢s networking group which includes both current students and alumni.
After their GCSES many of our Year I I students are supported to undertake invaluable work experience, In addition, we
introduced more off timetable time for Year 10 to begin to explore careers, university pathways and networking. We
welcomed Linkedln to discuss CV and networking opportunities, and students engaged in a series of academic enrichment
activities led by Godolphln staff to give them a sense of what their Sixth Form pathway may look like. Pupils in Year l O
and above were invited to our inaugural University Fair lo which we also invited partner schools. Universities from the
UK and beyond were represented and students could additionally attend talks ranging from applying to Oxbridge, applying
to Europe and how to gain funding to study in the US. Our thriving working lunch programme continued in the Spring
tenn with a wide range of careers represented including: scientific publishAng* nutrition, fashion, veterinary medicine and

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (eontinued)
FOR THE YEAR ENDED 31 AUGUST 2024
dvertising. We also ran our biennial careers fair which allowed further exploration of the world of work and were once
again grateful to our parent body for their support.
Old Dolphlns
Old Dolphins are an integral and valued part of our community and our alumnae programme is currently engaging over
4,000 individuals with the school. In September we were delighted to welcome back around 50 Old Dolphins for the annual
Old Dolphins, Day reunion. Additionally, 66 alumnae attended the 10-year reunion in November, while more than 40 Old
Dolphlns gathered for their 20 and 30-year reunions. The Development Office launched a new podcast series, 'The Pod,.
featuring seven episodes with Old Dolphins sharing insights about their careers and lives since graduation. Alongside the
podcast, the debut of 'Making Waves,, the new alumnae magazine, was launched.
FUTURE PLANS
The Governors will continue to prioritise broadenlng access to the school for academically able girls through the Bridge
programmes for Year 5 and Year 10 pupils, as outlined above, and a continued fticus on increasing the funds available for
fee assistance through the Bursary Programme.
Our Whole School Priorities for 2024-25 are again centred around increasing creativity and resilience, with a very
collaborative approach between the academic and pastoral teams. In seeking to meet these priorities. some of our areas of
focus will be: strengthening our S￿dentS. ability lo move beyond narrative exposition to more confident analysis and
evaluation. encouraging sthdents to reason, discuss, argue and explain rather than merely respond. promoting and
celebrating opportunities to reflect and respond, critically but empathetically, to alternative viewpoints, encouraging the
ability to change one's Mind. challenging perfectionism and fear of failure, building confidence and resilience through a
wide range of experiences in school. helping students to experÉence su¢¢ess in planning and implementing approaches to
complex challenges so that they can apply the skills they develop wtihin and beyond their academic studies. encouraging
students and their families to value the ¢hara¢teristics that are likely to be important for happy, effe¢tive and fijlfilled young
women of the future. Challenge Your Limits week will continue to be an important time in which the whole Community
can explore the interplay between resilience and creative thinking. For 2024-25 the week will be held in October as a
launchpad for continued engagement with the whole school priorities throughout the year, with an emphasis on making a
difference.
Looking ahead to the academic year 2025-26 a new Middle School course in innovation and leadership will be offered in
place of one GCSE subject for those Year 10 students who would like to opt for it.

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
FINANCIAL REVIEW
Financial Results
The Financial Statements for the year ended 31 August 2024 are published with this report.
The School had net income before investment gains and losses during the year of £1,284,091 (2023.. £2,156,360), after
providing for depreciation of £846,209 {2023: £627,905). Of this surplus, £1,915,832 was attributable to Unrestricted
Funds (2023: £2,603,392) and (£8,100) lo restricted funds (2023.. (£8,800)). £623,641 depreciation expenditure was
allocated against the Endowment Fund in the year (2023.. £438,232).
The Governors have identified that conlinuing surpluses will be required if investment in the School's activities and
facilities is to be maintained, and fee increases in the current year, which continue to be reviewed annually, are intended to
support this objective.
Reserves Policy
The Govemors regularly review the level and nature of the reserve funds of the School. Funds held at the year end werc
as follows:
Unrestricted general funds..
Designated funds (Annual Fund):
Restricted funds:
Endowment fund..
£6,299,831
£3,712,283
£112,253
£19,782,658
Unrestricted Funds are held primarily to ptDvide the funds for major development projects, including the current building
project ond other fixed asset expenditure. The School plans to continue this investment whilst at the same time, managing
its cash flow needs.
The Restricted Funds are held primarily to provide bursaries. Funds raised through Annual Fund (Designated) are
expended completely, normally during the financial year.
In previous years the School ha5 invested substantial Sums in school buildings. In furtherance of those development
projects, most of those unrestricted general funds are now invested in fixed assets. At the 2024 finan¢ial year end free
reserves which include both general and designated reserves were £5,138,058 (2023: £3,173,987). This value is in line
with the Govemors, strategy to build reserves in order to fund the ¢urrent stage of the School's building programme,
Fundraislng praetiees &nd performan¢e
The governors are aware of the Charities (Protection and Social Investment) Act 2016 and recognise the importance of
meeting the highest standards of practice and care in relation to fundraising a¢tivities. The School has signed up to the
ndraising code of practice and has voluntarily registered with the Fundraising Preference Servi¢e (FPS). The School is
a member of the Institute of Development Professionals in Education and the Council for Advancement and Support of
Education. The School only raises fijnds from Old Dolphins, parents, staff and those with a personal ¢onnection to the
school and does not undertake fundraising campaigns to members of the publi¢. The School considers the origin of
unsollcited donations and legacies.
The School does nol share or purchase any donor data with or from third parties. In 2023-2024 the School did not engage
with independent professional fijndraisers. In 2023-2024 the School did not receive any complaints in relation to
fundraising or raise any matter with regulators.

THE GODOLPHIN AND LATYMER SCHOOL
REPORT OF THE SOLE TRUSTEE (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
Statement of Trustee's Responsfibilities
The Governors, as Directors of the Godolphin and Latymer School Foundation, a¢knowledge on its behalf, as the School,
Sole Trustee, its responsibilities for maintaining accounting records and preparing financial statements A5 set out below.
Charity law requires the Sole Trnstee to prepare financial statements for each financial year which give a true and fair view
of the state of affairs of the charity and of the incoming resources and application of its resources for that period. In preparing
those financial ststements, the Trustee is required to:
select suitsble accounting policies and then apply them consistently*
observe the methods and prlnciples of the Charities SORP;
make judgements and estimates that are reasonable and prudent.
state whether applicable ac¢ounttng standards have been followed, subject to any material depar￿￿S disclosed and
explained in the financial statements.
prepare the flnancial statements on the going concern basis unless it is inappropriate to presume that the charity will
continue in operation.
The Sole Trustee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
Ihe financial position of the charity, and to enable them to ensure that the financial statements comply with the Charities
Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the School's trust deed. It is also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the
charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemlnation of
financial statements.
Signed on be
alf of the Sole Trustee.
S Davie
Chair
Date: 5 December 2024
io

REPORT OF THE INDEPENDENT AUDITORS, TO THE TRUSTEE OF THE GODOLPHIN AND LATYMER
SCHOOL
Oplnlon
We have audited the flnancial statements of The Godolphin and Latymer School for the year ended 31 August 2024 which
comprise the Statement of Financlal Activities, the Balance Sheel, the Statement of Cash Flows and notes to the financial
statements, including a summary of signifjcant accounting policies. The financial reporting framework that has been
applied in their preparation is appllcable law and United Kingdom Accounting Standards. including Financial Reporting
Standard 102 The FinancialReporlingSiandardapplicable in ihe UKandRepublic oflreland(United Kingdom Generally
Accepted Accounting Practice).
In our opinion, the financial Statements:
give a true and fair view of the state of the charity's affairs as at 31 August 2024 and of the charity's net movement
in fijnds for the year then ended.
have been properly prepared in accordance wilh United Klngdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for oplnion
We have been appointed as auditor under se¢tion 144 of the Charities Act 2011 and report in accordance with the Act and
relevant regulations made or having effect thereunder. We ¢onducled our audit in a¢¢ordance with International Standards
on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fijrther described in the
Auditor's responsibilities for the audit of the flnancial statements section of our report. We are independent of the charity
in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including
the FRC'S Ethical Standard, and we have thlfilled our other ethical responsibilities in a¢cordance with these requirements.
We believe that the audit evidence we have obtained is suftTicient and appropriate to provide a basis for our opinion.
Concluslons relating to going concern
In auditing the ftnanclal statements, we have concluded that the trustee's use of the going concern ba515 of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have perfornied, we have not identified any malerial uncertainties relating to events or conditions
thaL individually or Collectively, may cast significant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant
sections of this report.
Other information
The trustee is responsible for the other infonnation. The other inforn]alion ¢omprises the inforniation included in the Report
of the Sole Trustee. Our opinion on the financial statements does not cover the other infomiation and, except to the extent
otherwise explicitly stated in our report, we do not express any forni of assurance Conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other infonnation is materially inconsistent with the financial ststements or our knowledge obtsined
in the audit orotherwise appears to be materially misstated. If we identify such material in¢onsislen¢ies or apparent material
misstatements, we are required to deterniine whether there is a material misstatement in the financial ststements or
material misstatement of the other information. If, based on the work we have perfornied, we conclude that there is a
material misslatement of this other infornlation, we are required to report that fact. We have nothing io report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports)
Regulations 2008 require us to report to you if, in our opinion:
adequate accounting records have not been kept by the Ch￿lty, or
sufficient a¢¢ounting records have not been kept. or
the charity rtnancial statements are not in agreement with the accounting records and returns. or
we have not received all the inforniation and explanations we require for our audit.

REPORT OF THE INDEPENDEwf AUDITORS, TO THE TRUSTEE OF THE GODOLPHIN AND
LATYMER SCHOOL
Responsibllitles of trustee for the financial statements
As explained more fijlly in the trustee's responsibilities statement set out on pages 10, the trustee 1$ responsible for the
preparation of the finan¢ial statements and for being satisfied that they give a true and fair view, and for such internal
control as the truslee detcmiine is necessary to enable the preparation of finan¢ial statements ihat are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trnstee is responsible for assessing the charity's ability to continue as a going
concern, disclosing, as appli¢able, matters related to going Concern and using the going Concern basis of accounting unless
the trustee either intends to liquidate the charity or to cease operations, or have no realistic aliernative but to do so,
Auditor's responslbllities for the Audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material
misstalement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
wilh our responsibilities, outlined above, to det¢¢t material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting itregularities, including fraud is detailed below..
Based on our understanding of the charity and the environment in which il operates, we idenlified that the principal risks
of non-¢omplian¢e with laws and regulations related to The Education (Independent School Standards) Regulation 2014.
safeguarding regulations, health and safety requirements, GDPIL employment law and charity law and we considered the
extent to which non-complian¢e might have a malerial effect on the fAnan¢ial statemenls, We also considered those laws
and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and
consider other factors such as payroll tax.
We evaluated management's incentives and opportunities for fraudulent manipulation ofihe financial statements (including
the risk of override of controls), and detennined that the principal risks were related to the improper recognition of revenue
and management bias in accounting estimates. Audit procedures performed by the engagement team included..
Inspecting correspondence with regulators and t&x authorities.
Discussions with management including consideration of known or suspected instances of non-compliance wlih
laws and regulation and fraud.
Evaluating management's controls designed to prevent and detect irregularities.
Identifying and testing journals, in particular journal entries posted at the year end. and
Challenging assumptions and judgements made by management in their accounting estimates.
Because of the inhercnt limitations of an audit, there is a rlsk that we will noi detect all irregularities, including those
leadtng to a material misstatement in the financial statements or non-compliance with regulation. Th&s risk increases the
more that compliance with a law or regulation is removed from the events end transactions reflected in the financial
statements, as we will be less likely to become aware of instsnces of non-compliance. The risk is also greater regarding
irregularlties occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion.
omission or mtsrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at: www.frc.o
.uklauditorsres
onsibili¢ies. This description forms part of our auditor's report.
12

REPORT OF THE INDEPENDENT AUDITORS, TO THE TRUSTEE OF THE GODOLPHIN AND
LATYMER SCHOOL
Use of our report
This report is rnade solely to tbe charity's tnistee. as a body, in accordance with section 144 of the Charities Act 2011 and
regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's
trnstee those rnatters we are required to state to them in an Auditor's report and for no other purpose. To the fijllest extent
perniitted by law, we do not accept or assume responsibility to anyone other than the charity's trnstee as a body for our
audit work, for this reporL or for the opinions we have fornied.
kloyfftioc ZLP
Haysmac LLP
Statutory Auditors
10 Queen Street Pla¢¢
London
EC4R IAG
Date:
i? ￿l￿￿- Q02
Haysmac LLP is eligible to act as an auditor in ternis of section 1212 of the Companies Act 2006
13

THE GODOLPHIN AND LATYMER SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted Endowment Restricted
Funds
Fund
Funds
Total funds
2024
2023
INCOME AND ENDOWMENTS Note
FROM:
Charitable Activities:
Net fees receivable
Other educational income
19,921,514
1,518,099
19,921,514
1,518,099
18,354,763
1,511,606
Investments
Donations and legacies
286,630
887,055
286,630
982,548
197,962
981,056
95,493
Total Income
22,613,298
95,493
22,708,791
21,045,387
EXPENDITURE ON:
Charitable Activlties
20,697,466
623,641
103,593
21,424,700
18,889,027
Total Expenditure
20,697,466
623,641
103,593
21,424,700
18,889,027
Net Ineome/(expenditure) before
transfers
1,915,832
(623,641)
(8,100)
,284,091
2,156,360
Transfers
14
(7,073,199)
7,073,199
Net movement in funds
(5,157,367)
6,449,558
(8,100)
1,284,091
2,156,360
Total funds brought fonvard
I September 2023
15,169,481
13,333,100
120,353
28,622,934
26,466,574
Totsl funds carried fonvlrd at
31 August 2024
14
10,012,114
19,782,658
112,253
29,907,025
28,622,934
The accompanying notes form part of these financial statements.
Full comparatives for 2023 are shown in note 21.
14

THE GODOLPHIN AND LATYMER SCHOOL
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Notes
FIXED ASSETS
Tangible fjxed assets
27,337,881
26,008,594
CURRENT ASSETS
Debtors
Cash and cash equivalents
10
221,358
8,541,876
532,054
7,227,779
8,763,23
7,759,833
CREDITORS: amounts falling due
within one year
(4,014,090)
(4,965,493)
NET CuRRE￿r ASSETS
4,749.144
2,794,340
TOTAL ASSETS LESS CURRENT
LIABILITIES
32,087,025
28,802,934
CREDITORS., amounts falling due
after more than one year
12
(2,180,000)
(180,000)
TOTAL NET ASSETS
13
29,907,025
28,622,934
UNRESTRICTED FUNDS
General- Ell￿beth Godolphin Fund
Designated Fund- Annual Fund
14
14
6,299,831
3,712,283
12.233,330
2,936,151
RESTRICTED FUNDS
Prize Fund
Elizabeth Crane Fund
14
14
96,586
15,667
104,686
15,667
ENDOWMENT FUND
14
19,782,658
13,333,100
TOTAL FUNDS
29,907,025
28,622,934
The financial statements were approved and authorised for issue by the Governors on 5 December 2024 and were signed
below on its behalf by:
S Davies
Chair of Governors
M Esiri
Chair of Finance and General Purposes Committee
The accompanying notes forn] part of these financial ststemenls.
15

THE GODOLPHIN AND LATYMER SCHOOL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Note
Net c#sh inflow from operations:
Net cash provided by operations
Cash flows from Investing aetlvltles:
Interest received
Payments to a¢quire tangible fixed assels
1,493,078
3,335,697
286,630
(2,175,496)
197,962
(5,698,879)
Net Cl8h used in Investlng actlvities
(1,889,866)
(5,500,917)
Cash tlows from financing aetivltles:
New loans
Increase in bank overdraft
Finance costs
Bank loan repayments
Bursary loan repayments
2,000,000
(290.115)
(87,990)
(285,910)
(500,000)
Net eash used in financing activities
1,709.885
(873,900)
Change in cash And cash equivalents in the reporting period
1,314,097
(3,039,121)
Net cash and cash equivalents at beginning of period
7,227,779
10,266,900
Net cash and cash equivalents at end of period
8,541,876
7,227,779
A. RECONCILIATION OF NET MOVEMENT IN FUNDS TO
NET CASH INFLOW FROM OPERATIONS
2024
2023
Net movement in funds
Depreciation charges
Loss on investment
Decrease/{increase) in debtors
Increase in creditors
Investment income and interest received
Finance costs
1,284,091
846,209
2,156,360
627,905
310,696
(951,403)
(286,630)
290,115
(140,921)
802,324
(197,962)
87,990
Net cash inflow from operations
1,493,078
3,335,697
ANALYSIS OF CHANGES IN NET DEBT
At I Septembe
2023
Other
Changes
At 31 August
2024
Cashflows
Cash and eash equivalents
Cash
Deposit accounts
1,227,779
6.000,000
(685,903)
2,000,000
541,876
8,000,000
7,227,779
1,314,097
8,541,876
Borrowlngs
Debt due within one year
Debt due after one year
(500,000)
(180,000)
(500,000)
(2,000,000) {2,180,000)
(680,000)
(2,000,000) (2,680,000)
Total
6,547,779
1,314,097
-2,000,000
5,861,876
16

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES
Basis of Prep&rAtion of the Finanelal Statements
The financial statements have been prepared in accordance with the Financial Reporting Standard appli￿ble in the
UK and Republic of Ireland (FRS102), the Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) Second Edition. The financial ststements have been prepared to give a 'true and fair, view and have
departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair view,. This departure has involved following Accounting and Reporting by Chartties preparing their accounts
in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) Second
Edition rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from
l April 2005 which has since been withdrawn,
The accounting policies set out below have been applied in preparing the financial statements for the year ended 31
August 2024 and the comparative infotination presented in these financial statements for the year ended 31 August
2023. The financial statements are drawn up under the historical cost convention except that investments are carried
at market value.
The School is a Public Benefit Entity registered as a charity in England and Wales, il was registered in 1977 (Charity
number: 312699).
Going eoncern
Having reviewed the funding facilities available to the School together with the expected ongoing demand for places
and the School's future projected cash flows, the Sole Trustee has a reasonable expectation that the School has
adequate resources lo Continue its activities for the foreseeable future and consider that there were no material
uncertainties over the School's financial viability. Accordingly, they also continue to adopt the going concem basis
in preparing the flnancial slatements.
Basis of eon$olldAtion
Consolidated a¢¢ounts are not prepared as the subsidiary, Bengale Limited, is dorniant (see note 9).
Critical Iceounting judgement$ and key sources of estimatfion un¢ertalnty
In the appllcation of the accounting policies, the Sole Trustee is required to make judgement, estimates, and
assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The
estimates and underlying assumptions are based on historical experience and other factors that are considered io be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the
revlsion and future periods if the revision affected current and future periods.
In the view of the Sole Trustee, no assumptions concerning the future or estimation uncertainty affecting assets or
liabiltlies at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next
financial year.
The following accounting policies have been applied consistently in dealing with items which are considered material
in relation to the School's financial statements.
17

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES (CONTINUED)
Fund$
The general funds of the School are represented by the EIAzabeth Godolphin Fund and represent unrestricted funds
expendable at the discretion of the Sole Trustee in furtherance of the objects of the charity. Designated funds comprise
unrestricted funds which have been set aside by the Sole Trustee for a specific purpose.
Resources received for purposes specified by the donor, whether for use as income or capital, are credited to an
appropriate restricted fund, Amounts expended in accordance with the restrictions are charged directly to the
restricted fund.
The Endowment fvnd represents restricted funds held on trust to be permanently retained for the benefit of the charity
as a capital fund. All other income and expenditure is regarded as being for the general purposes of the School and is
included in the general unrestri¢ted funds, represented by the Elizabeth Godolphin Fund.
Finanelal Instruments
Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised.
Financial assets held at amortised cost comprlse cash at bank and in hand, together with trade and other debtors. A
specifi¢ provision is made for debts for which recoverabillty is in doubt. Cash at bank and in hand is defined as all
cash held in bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all
creditors except social security and other tsxes and provisions.
Fixed assets
Tangible fixed assets are stated at cost Icss accumulated depreciation. Depreciation is charged on a consistent basis
so as to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. All
assets costing more than £1,000 are capitalised.
Dcpreciation is charged frorn the date on which assets are brought into use. The following rates are used on the
straight line basis.
Freehold buildings
Leasehold property improvernents
Astroturf
Fixtures, computers and equipment
Plant and machinery
20/0 straight line
20/0 straighi line
IO% straight line
250/0 stralght line
50/0 straight line
The freehold building was revalued on the 23 September 1999 by Matthews and Goodman at 46 Bow Lane,
Cheapside, London using the open market value. In accordance with the transitional provisions of FRS102 section
17, this value has not been updated. Freehold land is not depreciated.
Debtors
School fee and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due,
Credltors and provisions
Creditors and provisions are recognised where the School has a present obligation resulting from a past event that
will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured
or estlmated reliably, Creditors and provisions are nornlally recognised at their settlement amount after allowing for
any trade discounts due.
18

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS {¢ontinued)
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES (Continued)
Fees and simllar income
Fees receivable and charges for services and use of the premises, less any allowances, s¢holarships, bursaries granted
by the School against those fees, but including contribution received from restricted funds, are accounted for in the
period in which the seryice is provided.
Donatlons* grants and lega¢ie8
Voluntary income is a¢counted for as and when entitlement arises, the amount can be reliably quantified and the
economic benefit to the School is considered probable.
Investment Ineome
Investment in¢ome from bank balances is accounted for on an accruals basis.
Expendlture
All expenditure is a¢¢ounted for on an accruals basis and has been classified under headings that aggregate all costs
relating to that category,
Teaching costs are the direct costs of teaching the pupils at ihe School,
Welfare costs are mainly the domestic costs of the School.
Premises costs are the costs incurred in maintsining the premi5e5 of the School, including rates, insurance and
general expenditure on repairs and renewals.
Support Costs are the costs of directly administering and supporting the School's operations.
Governance costs are audit fees and governors, insurance.
Value Added Tax
Value added tax is not recoverable and expenditure is, therefore, shown inclusive of value added t&Y suffered.
Pension eosts
The S¢hool is a member of the Teachers, Superannuation Scheme run by Teachers, Pensions. The scheme is an
unfvnded, defined benefit scheme. It is a multi-employer pension scheme and it is not possible to identify the assets
and liabilities of the scheme which are attribulable lo the school. Accordingly under FRS102 Section 28 ihe scheme
is accounted for hs if it were a defined contributlon scheme.
The School also contributes to a defined Contribution scheme for non-tea¢hing staff. The School's contributions to
pension funds for its employees are charged to the Statement of Financial Activities on an accruals basis in the year
in which they fall due.
Operating leases
Rentals under operating leases are charged on A Straight-line basls over the lease term, even if the payments are not
made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread
on a straight-line basis over the lease term.
NET FEES RECEIVABLE
2024
2023
Net fees recelv4ble eonsist of:
Gross fees receivable
Fees given as scholarships
Fees given as bursarics
Fee remission for staff
21,775,908
(103,801)
(1,808,467)
(37,618)
20,128,148
(98,832)
(1,733,876)
(34,961)
19,826,021
95,493
18,260,800
93,963
Add.. Bursaries paid by restricted funds
Payable by parenls (net of scholarships and bursaries)
19,921,514
18,354,763
19

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
OTHER EDUCATIONAL INCOME
2024
2023
School lunch income
Music
Registration fees
Insurance commissions
Management fees
Lettingsthire income
Sundry receipts
Educational income
717,751
493,514
156,789
658,650
439,267
141,427
7,190
1,000
8,995
135,860
119,217
1,000
7,800
141,245
1,518,099
1,511,606
INCOME FROM INVESTMENTS
2024
2023
Elizabeth Godolphin Fund
Deposit interest
286,630
197,962
286,630
197,962
DONATIONS AND LEGACIES
2024
2023
Unrestricted Funds:
Elizabeih Godolphln Fund
Other donations
70,226
157,250
70,226
157250
Deslgnaledfund$
Annual Fund receipis
Lega¢ies
680,639
136,190
729,843
816,829
887,093
Tolll unrestrieted funds
887,055
887,093
Restricted Funds:
Bursary fund
Bursaries
70,000
25,493
69255
24,708
Totsl restricted funds
95,493
93,963
Total
982,548
981,056
20

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 AUGUST 2024
ANALYSIS OF TOTAL EXPENDITURE
Stfiff ¢o$ts
2024
Other costs
2024
Depreciation
2024
Total
2024
Chgrit&ble Activities:
S¢hool Operating C05ts'.
Prizes
Teaching costs
Welfare costs
Premises costs
Support and governance costs
Finance costs
8,100
900,332
877,509
2,044,198
1,111,458
290,115
8,100
12,654,270
1,093,296
3,208,244
4,075,182
290,115
11,670,220
215,787
401,555
2,963.724
83,718
762,491
Bursarie5 from restricted fiinds
95,493
95,493
15,251,286
5,327,205
846,209
21,424,700
Comparalive analysLs oflolal expendilure
Staff eo8ts
2023
Other costs
2023
Depreciation
2023
Total
2023
CharitAble Aetivities:
School Operating Costs..
Prizes
Teaching costs
Welfare ¢osts
Premises costs
Support and governance costs
Finance costs
8,800
855,959
886,461
1,934,767
891,080
87,990
8,800
11,236,639
1,059,416
2,848,018
3,554,201
87,990
10,329,860
172,955
336,166
2,663,121
50,820
577,085
Burs￿1¢$ from restricted funds
93,963
93,963
13,502,102
4,759,020
627,905
18,889,027
21

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
ANALYSIS OF TOTAL EXPENDITURE (eontinued)
Analysis of Support costs
2024
2023
Support and governance costs olschoollng
Printing slationery and postage
Telephone
Advertising and recNitment
Insurances
Sundry expenses
Legal and professional
Courses and conference5
Governance costs
30,956
24,468
249,459
216,381
273,590
167,666
114,803
34,135
37,832
19,515
193,092
170,437
224,035
100,912
34,058
1,111,458
891,080
Analysis of governance costs;
Governors indemnity insurance
Auditor's remuneration- for audit services
Auditor's remunerntion- for non audit services
1,735
28,800
3,600
3,578
27,600
2,880
34,135
34,058
STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Pension contributions
Redundancy and lermination payments
11,444,992
1,339,358
2,448,336
18,600
10,282,112
1,198,644
2,021,348
15,251,286
13,502,104
The average number of persons employed by the school during the year was..
2024
2023
Teaching staff
Peripatetic and support staff
Temporary staff
132
102
125
96
240
227
The number of employees who received remuneration of £60,000 or greater, in the following bands w&s:
2024
£60,000 - £70,000
29
£70,000 - £80,000
16
£80,000 - £90,000
£90,000 - £100,000
£ioo,000- £1 10,000
£110,000- £120,000
£120,000- £130,000
£130,000- £140,000
£170,000 - £180,000
£180,000- £190,000
£260,000 - £270,000
£270,000 - £280,000
The total cost to the employer of remunerating key management personnel is £987,483 {2023: £922,872).
22
2023
26
13

THE GODOLPHJN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
TANGIBLE FIXED ASSETS
Fixture4
Compulers
Leasehold
Property
Improvements
Asse1$
uDder
conslruellott
Freehold
Property
P14nt &
MaehiNery
Equipment
Total
Co$1 or valuitlon
At I September2023
Additions al cost
Tronsf¢rs
21,466,121
166.296
8,906,903
6.943,578
238.092
131.592
355,0
7.029.295
1,877,608
(8.906,903)
36,032,086
2.175.496
At 31 Au8USt 2024
30,539,320
6,943,578
369,684
355.000
38.207.582
Depreelillon
At I S¢ptemb¢r2023
Char8e for y¢8r
7.666,018
605,893
2.131.333
138,850
84.139
83,718
142,002
17,748
10,023,492
846209
At 31 Au8usI 2024
8271.911
2,270,183
167,857
159.750
10.869,701
Net Book VAlue
At 31 Au8USt 2024
22267,409
4,673,395
201,827
195.250
27,317.881
At 31 August 2023
13,800,103
4.812,245
153.952
212,998
7.029,295
26,(K>8.594
The freehold premises were augmented out of the endowment of the Latymer Foundation in 1905. The property is to
be held in peryetuity as a pemlanent endowment. The Sole Trnstee holds legal title to the assets of the School, but
has no beneficial interest in them,
In March 2006, the School entered into a long term lease for the use of Church premises adjoining the main School
property. The lease which is for 125 years, commenced on I September 2007. Rent is £235,620 per annum and it is
subject to review at 5-year intervals.
FIXED ASSET INVESTMENTS
Benggle Llmited
This Company is a wholly owned subsidiary of the Sole Trustee. The company did not trade in the Current year or
the prior year. The Net Assets as at 31 August 2024 amounted to £1 00 (2023: £100).
23

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
io.
DEBTORS
2024
2023
School fees
Prepayments and accrued incorne
Other debtors
8,045
200,386
12,927
10,243
483,226
38,585
221,358
532,054
ii.
CREDITORS: due within one year
2024
2023
Bursary Fund loan (see note 12)
Fees in advance
Registration deposlts
Other taxation and social se¢urity
Other pensions
Old Dolphins Association
Text book deposit
Accruals
Other creditors
Other creditors- Bursary Fund
500,000
317,468
,354,200
317,106
300,200
127,203
445,907
197,079
105,127
349,800
500,000
314,832
1,300,200
320,204
241.834
121,893
393,920
768,596
890,679
113,335
4,014,090
4,965,493
12.
CREDITORS: due after more than one year
2024
2023
Bursary Fund loan
2,180,000
180,000
2,180,000
180,000
In June 2022, the Godolphin and Latymer Bursary Fund trustees granted a loan of £2.5 million to the School
towards the cost of the building development project of which was drawn down in September 2023. The loan has
been provided at a rale of 50/0 floating above six-month LIBOR, with a cap of 7 1/iO/o> fixed for the first five years.
The cap was removed in April 2024 for a period of12 months. The loan capital is repayable by 30 September
2029. The School currently intends to make a minlmum repayment of £500,000 per annum over the remaining
loan temi.
24

THE GODOLPHIN AND LATVMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (eontinued)
FOR THE YEAR ENDED 31 AUGUST 2024
13.
SPLrr OF NET ASSETS BETWEEN FUNDS
Net current
Assets And
long term debt
2024
Fixed assets
2024
Total
2024
Unrestricted Funds
General - Elizabeth Godolphin Fund
Designated- Annual Fund
4,875,223
1.424,608
3.712,283
6,299,831
3.712,283
Restricted Funds
Prize Fund
Elizabeth Crane Fund
96,586
15,667
96,586
15,667
Endoivment Funds
22,462,658
(2,680,000)
19,782,658
Balances at 31 August 2024
27,337.881
2,569,144
29,907,025
Comparative splil of net assets belweenfunds
Net current
Ilabllities and
long term debt
2023
Flxed assets
2023
Total
2023
Unrestrl¢ted Funds
General - Elizabeth Godolphin Fund
Designated- Annual Fund
11,995,494
237,836
2,936,151
12,233,330
2,936,151
Restrieted Funds
Prize Fund
Elizabeth Crane Fund
104,686
15,667
104,686
15,667
Endowment Funds
14,013,100
(680,000)
13,333,100
Balances at 31 August 2023
26,008,594
2,614,340
28,622,934
25

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (eontinued)
FOR THE YEAR ENDED 31 AUGUST 2024
14.
FUND MOVEMENTS IN
YEAR
B&l*nee at
I September
2023
Transfers &
investment
gainsl(lo$$es)
Bxlance At
31 August
2024
Income
Expenditure
Restricted Funds;
Prize Fund
Elizabeth Crane fund
Bursary Fund
Bursaries
104,686
15,667
(8,100)
96,586
15,667
70,000
25,493
(70,000)
(25,493)
120,353
95,493
(103,593)
112,253
Endowment Funds
13,333.100
(623,641)
7,073,199
19,782,658
Unrestricted Funds:
Elizabeth Godolphin Fund
Designated- Annual Fund
12,233,330
2,936,151
21,837,166 (20,697,466)
776,132
(7,073,199)
6299,831
3,712,283
15,169,481
22,613,298 (20,697,466)
(7,073,199)
10,012,114
28,622,934
22,708,791 {21,424,700)
29,907,025
Comparatlvefund movements in year
Balance at
I September
2022
Transfer5 &
Investment
gaIn￿(lO5ses)
Bal*nce &t
31 August
2023
Income
Expenditure
Restrleted Funds:
Prize Fund
Elizabeth Crane fund
Bursary Fund
Bursaries
113,486
15,667
(8,800)
104,686
15,667
69,255
24,708
{69,255)
(24,708)
129,153
93,963
102,763
120,353
Endowment Funds
12,916,276
(438,232)
855,056
13,333,100
Unrestricted Funds:
Elizabeth Godolphin Fund
Designated - Annual Fund
11,214,837
2,206,308
20,221,581 (18,348,032)
729,843
(855,056)
12,233,330
2,936,151
13,421,145
20,951,424
{18,348.032)
{855,056}
15,169,481
26,466,574
21,045,387 (18,889,027)
28,622,934
26

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 AUGUST 2024
14.
FUND MOVEMENTS IN YEAR (continued)
De
ed Funds:
Annual Fund
This represents donations received from various sources which have been designated by the Governors towards
gr￿tIng bursaries and for specific capital projects within the School.
Restricted Funds:
Prize Fund
The prize fund represents cash held through bank deposits. The fund is used to fund prizes for pupils.
The Eliz4be¢h Crane Fund
The Elizabeth Crane Fund was estsblished in 1999, and its purpose is to encourage girls to widen their horizons
beyond the core curriculum in English, through poetry, drama and lilerature. Th¢ Fund is represented by bank
deposits.
Bursary Fund
The Godolphin and Latyrner Bursary Fund, a separate TrusL was established in 1977 and provides Bursary
assistance to girls at the School.
BursAries
This fund represents donations received from various sources which have been restricted towards the provision of
bursaries. All donations have been expended in the year,
owm
nt Fund
The Endowment fund represents assets which must be held pern)anently by the charity and, in the case of the Schijol,
is the net book value of the freehold school premises, less borrowed funds expended on the premises.
Transfers between funds
Transfers relate to the bank and loan repayments made in the year.
27

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 AUGUST 2024
15. PENSION CONTRIBVTIONS AND COMMITMENTS
The School participates in the Teachers, Pension Scheme (England and Wales) ("the TPS") for its teaching staff.
The pension charge for the year includes contributions payable to the TPS of £2,056,370 (2023.. £1,675,917) and
at the year-end £255,556 (2023: £200,525) was accrued in respect of contributions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension s¢heme govemed by The Teachers, Pensions
Regulations 2010 (as amended) and The Teachers, Pension Scheme Regulations 2014 (as amended). Members
contribute on a "pay as you go" basis with contributions frorn members and the employer being credited to the
Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the
Government Acttjary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 Mar¢h
2016 and the Valuation Report, which was published in March 2022, confirmed that the employer contribution rate
for th¢ TPS would increase from 16.40/0 10 23.6% from I September 2022. Employers are also required to pay a
scheme administration levy of 0.080/0 giving a total employer contribution Yate of 23.680/0,
The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the s¢heme regulations
and under the approach specified in the Directions, as they applied at 5 March 2022. However, the assumptions
were considered and set by the Department for Education prior to the ruling in the 'McCloudlSargeant case, This
case has required the courts to consider ¢ases regarding the implementation of the 2015 reforms to Public Service
Pensions including the Teachers, Pensions.
On 27 June 2022 the Supreme Court denied the government perniission lo appeal the Court of Appeal's judgment
that transitional provisions introduced to the refomled pension s¢hemes in 2015 gave rise to unlawful age
discrimination. The government is respecting the Court's decision and has said it will engage fijlly with the
Employment Tribunal as well as employer and member representatives to agree how the discriminations will be
remedied.
The TPS is subject to a cost Cap me¢hanism which was put in place to protect taxpayers against unforeseen changes
in scheme costs, The Chief Secretary io the Treasury, having in 2019 announced that there would be a review of
this cost cap mechanism, in j￿Uary 2022 announced a pause to the cost cap mechanism following the Court of
Appeal's ruling in the Mccloudlsargegnt case and until there is certainty about the value of pensions to employees
from April 2015 onwards.
In view of the above rulings and decisions the assumptions used in the 31 March 2016 Actuarial Valuation may
become inappropriate. In this s¢enario, a valuation prepared in accordance with revised benefits and suitably revised
assumptions would yield different results than those contained in the Actuarial Valuation.
Until a remedy to the discrimination conclusion has been detemlined by the Employment Tribunal it is not possible
to conclude on any financial impact or future changes to the contribution rates of the TPS. Accordingly no provision
for any additional past benefit pension Costs is included in these financial statements,
In addition the School contributes to a defined contribution scheme for non-leaching staff. The pension charge for
the year includes contributions payable to the scheme of £391,966 {2023., £345,432) and at the year-end £44,645
(2023: £39,529) was accrued in respect of contributions to this scheme.
Total pension contributions made in the year are analysed as follows:
2024
2023
Total contributions during the year were..
Teaching staff
Non-teaching staff
2,056,370
391,966
1,675,917
345,431
2,448,336
2,021,348
28

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS {contlnued)
FOR THE YEAR ENDED 31 AUGUST 2024
16. COMMITMENTS UNDER OPERATING LEASES: LEASE PAYMENTS
The school's fulure minimum operating lease payments are as follows..
Equipment
2024
2023
Within one year
Between two and five years
147,171
212,603
200,461
224,414
359,774
424,875
Lease commitments for long-term leasehold buildings are disclosed in note
18. RELATED PARTY TRANSACTIONS
Governors, remunerntlon and relmbursed expenses
Trustees indemnity insurance premium of £1,735 (2023.. £3,578) was paid on behalf of the governing body in the
year. No other expenses were paid on behalf of the governing body. One governor was reimbursed ft)r travel
expenses of £33 in the year (2023: £121 two governors).
Governors, Don4tlons
The aggregate of donations received from the Governors and their connected partie5 in the year was £nil (2023:
£nil).
No Govemors were remunerated for services provided to the School. There were no other transactions with related
parties either.
19. ULTIMATE CONTROLLING PARTY
The Godolphin and Latymer School ("the School"), a registered charity, is Controlled by The Godolphin and
Latymer School Foundation ("the Foundation"), a company limited by guarantee, charity number 1073924. The
Foundation is the Sole Trustee of the School and its directors constitute the School's governing body. There
were no transactions in the year with the Foundation (2023: no transactions). The consolidated accounts that
includes The Godolphin and Latymer School accounts can be obtained from The Godolphin and Latymer School
Foundation, lffley Road, Hammersmith, London W6 OPG.
20. CAPITAL COMMITMENrs
At 31 August 2024 the School had capital commitments of £18 Ik {2023: £1. Im).
29

THE GODOLPHIN AND LATYMER SCHOOL
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE YEAR ENDED 31 AUGUST 2024
21. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
Unrestrlcted Endowment Restrlcted Tot&1 funds
Funds
Fund
Funds
2023
INCOME AND ENDOWMENTS Note
FROM:
Charitable Activities:
Net fees receivable
Other educational income
18,354,763
1,511,606
18,354,763
1,511,606
Investments
Donations and legacies
197,962
887,093
197,962
981,056
93,963
Total Income
20,951,424
93,963
21,045,387
EXPENDITURE ON:
Charitable Activities
18,348,032
438,232
102,763
18,889,027
Total Expendlture
18,348,032
438,232
102,763
18,889,027
Iyet Incomel(expendlture) before
transfers
2,603,392
(438,232)
(8,800)
2,156,360
Transfers
14
(855,056)
855,056
Net movement In funds
1,748,336
416,824
{8,800)
2,156,360
Total funds brought forward
I September 2022
13,421,145
12,916,276
129,153
26,466,574
Total funds carried (orward at
31 August 2023
15,169,481
13,333,100
120,353
28,622,934
14
30