Coryany No. 00420867 Registered in England Chamry No. 312762 ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT AND FINANCIAL STATEMENTS 31 AUGUST 2023
ST HELENS SCHOOL NORTHWOOD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023 Con¢en¢s Page Goyerncrt. Offctrs and Ad¥isers Annual Report of the GoverrKYs Governors. Report Strategic Reporr Independ¥t Auditty's Report 18 Con50fidared Statem[ of Rnanoal Actimties 21 Consolidated Balance theet 22 School Balance Sheet 23 C0Th501idated Ca5hflow Sra¢ernent 24 Note% to the Financial Stat*Mnts 25
ST HELENS SCHOOU NORTHWOOD GOVERNORS. OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2023 GOVERNORS, DIRECTORS AND CHARITY TRUSTEES The Governors of Sr Helen's School, NOrthr0d rthe School.? are rhe S¢h¢xl's charlty trustees under charity law and the directors of the charitable company. The members of the Governing Body who served In office a5 Governors during rhe year and subsequentty detailed below. ppa6nTd 22 Sept•nbv 2022 .,Appointed 8 DeC)ber 2014 App¢intd 8 Detember 2014 AppThted 18 Ncwember 2022 ppnIed 23 September 2022 APPnted 12 july 2023 Appointed 20 No¥nber 1020. resign&l 31 August 2023 Appoinred a D¢ctrnber 2016. re5igne¢i 8 October 2022 ppoin¢ed 24 October 2022 ,,Appointed S Decanber 2011 Appointed 8 December 2014. re$Tred 4 December 2023 ,Appoinred 5 October 2020. resigned 3 DecwnbÈr 1023 ppunted 10 December 2018. resig#tyJ 13 February 2023 App<xnted 7 August 2023 AppTrted 12 July 2023 pptynred 4 Ap1 2019. re51gned 5 Thuary 2023 .'Mrs N Bhandari 1r N Boghani <V¢ce Chair) Ms S Davi$ Ms A E5pley ',Mr D Frdnk Ms G Goli4reln ,,M$ S Gordon ',Ms Zjanmohamed ,'Ms P P49ngSa ',Mr V Sapra ,'Mr R Street '.Mrs L Tong '.Mr B Turrser '.Mr C Watson '.Ms 8 Wolff (I l Finance and E$ores Cornmictre 111 Educadon CommitteÈ DurinR the year the actlvittes of the Govtrnlng 8Ddy were carried out through two eammitree5 in additicn to terni]y Full Coun¢ll rneetinÉs. The membership ofthese committtes is Show above f each Governor. Page I
ST HELENS SCHOOQ NORTHWOOD GOVERNORS, OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2023 OFFICERS H eadm is¢re55- . Tracy Polhrd Clerk to the Gpvernors: . Amanda Adamis Reg15tered com pany number.. Registered chariry Thum ber.. 00420867 312762 Prlncipal and R¢gi5tered Office address.. St Hden's Sthool Ea5tbury Road North*x)d Middlesex HA6 3AS Ban ktrs.. Bardays Bank plc 54 Hh Stre Ruislip HA4 7AT Audltor.. Hay5m3cinryre LLP 10 Queen kreet Pla¢¢ EC4K 1AG Solicitors: Veale Wasbrough Vrnrds LLP Narrcw Quay House Namm Quay istol BS1 4QA Web51te vM.SCheTh$.10nd0n Page 2
ST HELEN% SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 The members of the St Helen's khts. Northx>cd Gtrrnlng Cwncil present their Annual Report for rhe year ded 31 Augusc2023 undertheCharitiesAct 2011. Charities SORP and thecompanies Act 2006.thusincludin8 the Director5. Report and Strdiegic Reporr under the Companies Acr 2006. ¢ogetherth the audited financ Statements for the year. The cS011d3ted financial statements inelvde the financial SLatements of Sr Helen'5 S¢h¢)ol. Northvwd aThd it5 subsidiary comp¥rby. St Helen'5 Enterprises Limiied. GOVERNORS. FiEPORT CONSTITUTION AND OBJECTS St Helen'$ kh•1 was fcJnded in 1899 and 1$ rff15tered V•ith the Ctharity Commlssion uhder charyty number 311762. The Schod's G¢)vwnor& executr¥e officer& address and profe55ipnal advisors are as lisred on page 1. The Schcd Is a cornpaThy lirnlted by guardntee and is ioverned by its merrwandum and artieles of associatic dated 4 October 1946 as Irnded by Special resolutions passed ¢)n 26 March 1996. 22 Marrh 2004 and 30 lune 2015. Charitable Objects The charity's abjècc$ as ser tyJt In it5 wmndum 0fassoc1arl are to: advance educatiorb in particular by (but not limited to) arrying ar NOrth%0d in the County of Mlddlesex and e15evknwe a5 may from tlme to time by lh¢ Charity be thought ffit, a day andl¢r boardlhg xhool or cdleg< or schools or cdleges- Ihd advance rellgion rhwgh the pmvision for whip and knKrUCti in the Christian tradl¢lon and ¥th respect for all fwths rellgions and rdigious dN¥siry. AIMS, OBJECTIVES AND ACTIVITIES Aims and Iniended Impact In line with its charirable objÈcr5. the khod all= To prnvi¢Je each and every gid with the opptyrunity and means to achieve a¢ademl¢ exeellenee- by promotlnK lThtellectual curiosity. ¢x¢irement and ambitbon To provlde our srudents wth the personal skllls. emoti¢)nal resilience and confidence to achlwE thdr full po¢enrial through a varied. rich and ch•llenglng ¢o-curricular programme To know, value and respecr all glds as ind1vidu$ so as to best support them on their iournry through the Schod To ensure that the Schc*Jl, the glrfs. fhe sraff and parents play a ffijll and a¢rlv¢ part the lotal. natlon and global C¢)mmunlry Ourglrls 11 be brave and tru< ever inrel1ectua1 CUri+WS. Theywll believe they can doanyLhin& They wll want to explore how they can besc inrernct vA¢h rhe Y4 around th and make a dSffer¢nte for the better in their way. They 11 be ready for vknatever the (uture bring Page 3
ST HELENS SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 Ovr girls wll.. be excited about thr karnin& aKYays asking the question Mty.: be independenL adventLifous. ambitbous and resllien be rhe probl¢m-sdvers aThd trailbla2ers rommw. alvrnys be guided by integrity and thwr eJ•N rOng moral principle5: cdebrate diver5srT. be compasslonace towards rhemsths and otherL At the Same tlme. rhe SChts aims to Pre fa¢iliri¢s and opportunities IDr Ihe benOt of Its knal comnwnlty. The trusrees cty)firm that have had regard to the Charity Commi5siofb'5 guidante on public beneffit reviewing it5 objective5 and actMrle> Objectlves for rhe Year The main objertives Ihe year we Continue to proNide a hlgh Iv4el of education and mathuin • high level of aChVement throughour rhe Schoul through the ongc4ng enhancement of staff professional d¢)prnt and leadership qvalitie5. Further develop rhe exception pa5tcal ¢are prthided to w'rLs at the sch{1. cetInUe to invest in the khod's t$tIng &01itles thr¢xJgh Scab lee Income and pruden¢ ManageTht of projected surplu Update the Estates Strategy to meet th¢ netsls ol the Schod for the next 10 years. The provision of bursarie5 to offer opportunirles girk without some fanCl assistanc& rnight not be able to take up a plate ar St. Hekn's. Develop Ilnks wth I/1 slate primary schools to prole khod's bursary proEramrne. Develop h'Trks with kxal 51ate s¢hods Eo identify opportunities tr joint vthing and support. GOVERNANCE AND MANAGEMENT Governing Body The charity is run by its trustees. %thoconsr¢tute the Sch4xl'5 Cwncil of Gt)vernors and are the direciors for che purposes of company law. nCIl 15 self-app¢*nung and may from cime EO ¢imÈ irtte universitie5 (and ocher fijrther education bodies) or professbonal bodies to Trominare a Gtr•erncf. CnCil may con515t of between fve and twenty membvs. Servlct on Ctyjncil is for a tenn of rhree y¢•rs and retiring Kovernprs can be redected a m2xlmum of 3 times alrer an Snitlal cemi of 3 years to Serve up to 12 years in rotal. CpuTrcil iths Ir$ govttnance responsibilives seri¢11Y and. a5 a rge charity. airns ta have a governance trarnek that is fic for purpw compliant and effiuent. The CouThal has e5¢ablished * solid fndarIOn in governancein Nthichall tru$rets are clearabouttheirrclts and legxlresporssibiliti4 are commiited ro supporting St Hden'$ to deliver it5 cbjec(5 rnOSf tffettivety fc¢ the benefit of it5 beneficlaries and contribute to the S¢hoof'$ ¢ontlnued Impr¢vemenL Page 4
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 erall. the kh1.5 Council of G••{ rTrts a Very si£nffitant proportion of the recommeThded and besc practice for governance c¢ntairted %%ithin the Charity Governance Code (publishedjuty 2017) across rhe Code. 7 principle5 and is comfortabk there are Tho signthcant res of rwithv required. Arr30gementswll continw to be monitored agalnst the best prnc¢Ke principle5 contained within the Ccd Recru itm ent an d ¢rain ing of Governor5 Governors are aPPnIed a5 vacancies arise New membs of the Councl of G¢yrtmors are tted based on ncffninat1S from the Governors and the executive officer5 and on the candidate5. professional qualities experience. pers{[ competence and alIabilitY. Candidates are interviewed and the sulrabllky of caAdidatts i¥ dixu55ed by Councll before candidate5 are invited to join Council as approPttL The genernl policy is that New G0Vwn are inducted inio the rkingS of the khool. including Council pol and procedures. ac an induction Ses$h specialty organised for chem. The new Govern%v5 are also invlted to attend specialist external courses on the role and responsibilitie5 01 charity trustees and in School trainlng e.g.. child protectian aThd 5afe8uardin8 delivered by the Designated Sfeguarding lad. A5required, Gemor5 attend LYCerntrs[eelrI1lThg and Infrntk>n course5 desl¥ned to keep them Informed and updared on currenc issues ITh the sectLY aThd regulaw requirements. Organisational m anagem ent The School Governors, as trusttts of the charityand directors of the company. are re5pon5ible for the overall management and control of the Schod. Full Cn£1 mews frnlty oTh¢e a trn Committees are sta by Ippropriare governors. ch regard io expwienc¢ expertise and interest. Changes to School ltsdership VAS recentty annovnced Virh the appuntrrent of Head starting in September 2024 ané new &Jsiness Direcror. The schod 15 currentty being managed by an Inttrlm Head untsl Augu$t 2024. The Governors meet three tlmes ptr year to revlew the s¢raieKY and perfrnance of the School and co set operntlng plan5 and budgets. The cl IMplertIng rhwr policie¥ Is ¢arrl¢d out by 2 Commlrtee5= The linance and Estates Committee scrurinises re4enu¢ budger. capital expenditu HR ind progress against the Esiares Ma5terplxn. building proie£ts ind maiThtenance. This Commitree also suptrvises and fina115es the audiied financlal statements and aThnU rep¢ forapprtrrtl by the Council of Governors. The Committee is chaired by Nadeem Boghani and meets once each tenn. The Edutati)M Committee con5ider5 edutional and pastoral policy. Covcurrfcular opporyunities and the role of in educat1. The Committee is chaired by Ben Turntr and me$ onte each terni. Fc41owing the departure of the former Head of SchoJl, an Interim Head is in pCe until August 2024 and rhe t)evAy appolnted Head of Schcd comrreThces in September 2024. The Cornnttees. decislons are rarifd by rh¢ full Coun<ll of Gov¥ntY5. The day to day running of the School is delegated to rhe Headrnistre5s. PAJ5ine5s Director and SenKyr LÈadershlp Teart The Headmistress and Business Director attend all meerings of Cwncil and Its C(WTwnit¢ee& Page S
ST HELENS SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 Employee Remunera¢lon The cjn£11 of Governor5 5et5 the reMUn&t10rt palicy for the Head with the obiective of recruitin& rewdftling and retaining a high quality indmdual vkno is appropriately in¢entr¥ised 10 contribute to the succe55 of the School. The key rrtanagemernt per30nnel ih the School are rhe Senior Leadership Team whlth £oNslsts of the Headmistress, &J5ine55 Director. Depu¢y Head Adern1 DepLSty Head Pastoral. Deputy Head Co- curricular & Partnwships, Director of Teaching and Learning. ASSIS[ Head 6 Forni and Pupil Progre55. Acting A5515¢4nt Hud Pasrml and Acting Director of Operauons. Remuneration is reV1th annualty and considers general economic factors and comparisons wth peer grwp Independen¢ 5chpols rhrough conwltant suv¥tys to ensure rhat the Schod remwns (lpe¢ll1yL Group Structure and Relationships The charity has a wholly nl)n-GharTrb1e wbsidiary. St Helen's Enierprises Liff4ted. vknose acuvi¢ies and trading p)rmanCe are discussed below. The School Is a mEmber d the Associarrcffl of Governing Bodie5 of Indepemdent Schoo15 IAGBIS}. rhe kndependt Schods. Couhcil 115Q. rh¢ Glrfs. Schools Assocmtion (GSAI, the hdependent A5$0ciation of Prep Schools IiAPSI and the IndePendt khoob. r$3$. Assoclaclon OSBA}. The khool netIrkS wdely with ather $chS to prormre high qualiLy knrning and to learn from orh¢ys' experICes. Environm ental and Em ployee Matcer5 The School is mindfvl of its environmental re5POn5ibilltie5 amd srrtva for improvement. Pupils and staff are entournged to use and recycle all type5 of resovrce carefully to conserve phy5kal restyjrces and energy. The significant capital investment in the Stht)ol te ov¢r rhe Pa 5 ytsrs has all been planned wtth envlrcffimencal considerations at the heart d any new buildin¥s. intludirhg ling green roo& solar array5. water attenuatic sys¢em5 3E)d energy effitient mechanical aThd electrical irsstapations. The School's commitment ro che environment 15 recognised by the awArd of the Green Fkg by the Ec0-khCo ryganisation, the award of che London Borough of HIllIngd¢'$ Travel PTr-sTARr ccreditatioTh (Gold Ive and by the award of Falrtrdde Sch¢)ol status. Sr Helen's has comprehensive health and safety poliebes and provides * safe and healthy eThvironment Icr it5 pupil$ and employees. St Helen'5 is committed to equal OPU1es for all PUPI and staff. Every effcrt t5 made to a¢eommodat* pupi15 or staff with di5abilitie5 and to ensure rhat staff participare Sn all career opportuThioe5 available. Full and falr Consideratlon is gNen to job applicaciws from disabled and due consideratlon is given to their Iralningandempbym¢nr needs. Consultationvith employees. w their represth¢aiives, haseonllnued ar all levels th the aim of taking Lhe view5 Irf th)ployees inro account when decisions are rnade thai are likety ro affect their interests. Employtts are enCjraged to participate In the IKe of the klwl and art kept fulty Inhrmed of events. Staff meeiiThg5 rake place weekty during ierm and staff are consubted on rrraterval marters Nthere approprlare. Employtts are made aware ol the financvdl and ¢¢1))k pthnce of the School. Page 6
ST HELEN'S SCHOOL NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 STATEMENT OF ACCOUNTING AND REPORTING RESPONS181LITIES The Govtmers. as Dirttiors of St Helen'5 khcd. North1 for the purposes of company law, art responsib lor preparing the ATrThval Rew and the finaThcil sratements In ateordante th applicable law and regulatlons. Company law requlres the Gmor$ to prepare finan¢ial fty each financlal year which give a true and fair view of the state of affairs of the charitable tornpany and the group and of the incomin8 resources rtd pplitxtion of resour¢ts. including the income and expenditur4 of the charftable grtyjp for that perlod. In preparing these financial sratement% the Governors are required ro.. select suitable accourttlng pdiclu and thw appty them con5i5tentty- observe the methcJs and principles In The chamtles Stat¢mt of ReeommeThded PrattKe (SORPI: make ludgmenrs and estlmate5 that are reasonable and prnden state whether applKable accounting Sfandards have beEn fd1¢h. SubCt to any rnarerial departures disclwd and eXp1¢d In the financwl stateTr¢S- prepare the financial statements on the g(xThg concern basis unless ir Is Inappropriate to presume that the charity will continue to operat The Govtrnors are r¢SpSb keepiThi adequateaccounting ordS that are sufficient to shJW and explaln the charitable ccmpany's transactions. disclose %%irh re4sorbabl¢ •¢cura¢y ar Jny tirne the financial positiors of the charitablecompany and enable chem to ensure that the financial statements compty wrh th¢ Cwnpanles A¢[ 2006 and the provisions of the charity's conrtitution. They are alsts responsible for safeguarding the assets of the charity and the group and h¢n¢¢ for rakn.rtg reasonable sreps for the prevention and detection of fraud and other irrtKularitie5. So far as each ol the Governors at rhe date of rh1$ rewr Is awart thtre Is no rehvant audlt Information of vthich the charirable company's is unaware. Each governcr has taken all the steps that helshe oughc to have taken a5 a trustee in order to make himselvhersdf of #ny rethni audii inlormatlon and io establish that the charitable crmpany'$ audiror 1$ Jwdre of ¢hat inf0rmati¢)n. Page 7
ST HELENS SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT MISSION STATEMENT To prwde each and ev gid with the opportuniry and means to achieve academic e¥¢ellence: To prcmde wr students %4ith the personal skn"114 emotional rttilience and rhe confidence to achieve thr fiJll poiential thrwgh a varied. rich and challenging £Ovcurricular programm To knrm. value and respect all ¥ir15 a5 indivhluals so as ¢p best 5UPWt them on th•r journey through the Sch. To ensure that the girh are rody to play a 11 and acrive part in their ctjnmunrcies and in an interconnected dlgital woAd. STRATEGIES TO ACHIEVE THE OBJECTIVES FOR THE YEAR The Gornor5 and che &hool IEad5hip team ccffitinue to focu5 prrwldlng the ritht envronment to allow girls to achieve their very besL The Schoc4 aims to pro¥Kle a dynamic envir2nmenr fir e%celencè in teach and learningand ro insplrexids to thinktr thtyrr4eh+ Gids are encouraged to deloP * sense of responsibllity and arnbition. both for thern5ehs and ¢xherys. Thrnugh+YJt theschooi. teacher5 are comrritied to ensuring rPt each girl achieves her poient131. Everything do is designed to develop the learning habits and character attbuteS that Tr11 sei our puplls up for success afid In thar acadetThc siudles careers and personal lfves. The Schwl's vision for Si Hekn's pupils Is thai thry-n be brnve and e•er intellectually curious. They wil believe they can do anything. They vlill want to explye how they ¢an besi inreract Th the w)rld arThd them and make a differen¢t tr rhe better in Thr0 wdy. They ill be readyfor whatever thefuturt bring$." Core to the vision are the r%bt key strands of academic and pastoral development. The khod Strntegy Axuses on fJr further facilitatinR5trands r05uppory thes¢ Stafr. Leadership & Gtréernancw, StsppotT.' and RetIonShIpWI1h the wer World. The leadership team have continued to develop cO<urricur Opportunit tr thÈ&"rfsand there are now more than 80 different types c4 acvvity avw1able for the gids to Cho from ro brdeTr their horizons. includTrg participatic in the Schoof5 Outreach progTrm llAk¢d ro knc21 primary scho)15. The School has CtinUed to invex in its existing facilities during the ¢<wrs¢ th¢ year th various minor capiul projetts. including rhe refvrbishment of the staff roorn in the Science bbck and structur malnienan of buildngs in the School. In •ddkion. major capital projects during this year have focus5ed on Ihe de51& of a new building to provide dedicat¢d ¢hangtttg spa¢t tr rhe glrls Irb senior school and Y6, together with office lor the PE department totaNinK 12 teacher5. The scherre totalllng c1rt3. £2.2m is currenrty under constru¢rlon Ind due ro compkne in April 2024. This prciect forms part of a vlider 10-year Estates Strate vthich include5 ? once Sn a %eDeratlon opporruhty ro consrrucr an Arrs and Cultural Centre providing a muth need2d larye4cale theatre Sty facility wth capacity to accornmodate more than 500 wth the intentic (hat rhis fa¢ility will support the needs of the schoc4 and a150 host kKal community evenr5. Ho%sver. the Arts and Cultural project has been suspeThdtd whllst a nt•¥ srrncegy L% belng developed. The School continues to devehjp its partnership$ vAth xher xhoob toallaw orhers to benefit from St Helen'5 resources and tsciliue5. and also continues to provide Snancial 5UPPm toan Increasing number of girls throu Its bvrsary fvnd. Page 8
ST HELENS SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 1023 ACHIEVEMENTS AND PERFORMANCE Kevitw of athiÈvements and performance for the year The School measures its success by referring ro.. The demand places at the Schoc4 School Inspection rep¢2rts Autlemic resulrs and unNersity entraThces Pupll parental and staff quesriofinalre5 R¢gular audlrs of publt bCE Operational perform ance The charlry provlde5 edu¢atlon in NorthvKd to girls fixmn ¢he age of 3 TO 18. This is provlded through St Helen's Preparatory School lag 3 ro 111 and Sr HeleTh'5 Senior Schlxl {age5 11 to 18). In iot41. S¢. Helen. 4v¢r4ged 1.196 pup115 acr035 ihe year. Demand for PCeS at St Helen'5 remalned high. with the School oversubscrlbed at all the major pdnrs of enrry. The khool coThtinved in Its policy of selecting pupils It iudgtd to have the highest a¢ademi¢ potenclal. Academlt pocential and abilityare recognised and nurrured through¢AJI the khool- the pupils make excellent progress wich is relecred In ct)n$lsiw%ty ovtstaThdinz rewjlts at GCSE and A LertL In summer 2023. GCSE and A Le1 qualifications were awarded by a full examination and NonxaMinatI?Th Assessmenr serie5 in all subject5. and results rrturned to preandemic grndlng iih the overdll results being Ihe becter than grades a£hbeved in 2019. In Year 13. 30% of A Levels V+re avorded 3c grade A P019= 18%). 65% at grade A A (2019- 45%1 and 87% at grades A¥.B (2019= 77%). Value added dara for A level tsutcarrie5 Puf5 St Helen's in the top 30% of all schrds nationalty in 2023 in cern)s of pupil a¢ Key Stage 5. This represencs a very $lgrbificanc IMPreMent In outcom¢s and progre55 for St Helen's students Fn £omparisoN wrh the r)St recent ccfflparable examination series in 1019. Year 11 students achieved similarly impressNe resulis. broadty matching outcomes In 2019 and undthining the 5chc4A'5 con5iStentty stmng pwf¢yman¢e a¢ GCSE.. 36% of all qualificacions were 3rded at grade 9 f2019.. 36%) and 85% achieved grnde5 9-7 P019.. 86%1- These resvlts renect the students, rd wDrk and resilience under the exceptionally challewng circumstances over che last three years nd are restarnt to the dedication and prolessionalism ofour rearhing and 5UPPOrt staff whose relentle55 focus of the pupils, N4llbelng h•$ thable4 toa¢hitre results thich fvlly rdert their p*xentlal. St Heleh'5 acaden¢ 5u¢ce55 15 recognised by its place in the premier league af LIK schools. St Hen,5 is also rerogni5ed a5 providing a first class all roJnd educarlonal ¢xperfen¢e ro supplement its drfve for academ excellenee. The ble5 that¢UrrICUlar activities are a vital comp0nr tsf a balanced and Stimulating educailon. In the acadernic year 2022-2023 prtrlided a full range ol opporrunities to participate In muslc, swc, dranya. the Ccffibined Cader Fwc¢ ICCF). the Dukn of Edinburgh's AvArd and a huge varlery of clubs and s¢xieties. as as iThvohfement with a range of charities. W¢ also reih5taLed rhe majority of wr in- person performance opportuThities in music and drarna. including the annual HSe Arrs competltion vthere pupils design. dlrecr and p¢rftym original drTh dance and songs. Page 9
ST HELENS SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED> YEAR ENDED 31 AUGUST 2023 Edutatiomal r¢lnstared follrh%ing the relaxation of CcNid 19 res[rtIOnS, culminaling in the summer holidays th a Music T¢)vr for •pproximatety 100 rtudents to Pari% and Phab Week in which &xth Forni puplls from St Helen¥ 2nd Mwchant Taor9. Schoo15 proded care and activities lor a number of young people dlsablliries. PridIng rhtyr familie5 Vich rnuch.ned&l respite cr& There re a variety ol other trip5 and visits atrt)%s the UK including those kn the CCF and a Dukn of Edinburgh tronze award expedition and serles of trips across rrther Year Groups A whde school parent survey wa5 coThdu¢red ITrry 2023. The results were aaSed. and an actlon plah of initiatives Communicated to Prq) and Senior Schcol parenr5 wthbch Included * revkw of homework and pupl behaviour policies at the Prep Schod. rhe development of a Qulet Zone for students and a rtew of the Parent Portal interface ITh Senior School. The s¢hod's Depury Head Pastoral conducted a staff l-being 5Utvey in the Avturnn rernK ith feedback to the Executfi team and aueed accl$ in¢lu&"ng supwtNe conYersath)n5. St Heleh'5 Is a papUlarsch¢X and Ihe GrNernors bekneve that the Schod wlll continue to attracth.h nurtier5 of application5 Irsto thefore5eeable Th¢ G¢>vernors are nevertheless avrdre that the current econtsmlc environmcnc may affecc levels c4 application5 the abiliry to ply kts lfi rht shcter tem and thi5 15 taken inro account when ihe fee Increases for rhe 2023n4 acaderic year Ire ser. ln addition, the Governors wll determine wheihw PItal progTrrMs and rhe asso£lted ffijnds may need to be paused Ihe event of a malor change. PU8LIC BENEFIT Granc-m aking Policy Thls year, St. Helen's pupils benefited L1.85m P021: £1.49m) 3rded irs scholar5hip5 and bursar6es. Eath year. the School makes available a Trur)er of schol¥thips ro detray a proportion of tuition fees. AvArds are de based on academlc ability and are not rdated to financial ¢ir¢umsrances. The Sch¢Jol a0 makes available a small numbw of awards rL sporc and drama. Approximately third5 of the khotsl's grants are awarded as bursarie5. By granting bursariE% the School also seeks Eo ensure coniinuity of edU(ar1 lor 1 its pupikn and to Prde opporEuni¢ies for gids who. iihout $on thnancial ssistanc< might not be abk 10 take up a place at St Helen's. A bursary is dlscretionary mean5-te5ted ffinancial which. in some cases, covers 100% of fees and associated extras. jr$ae$ are not linked to schc43rships and a gid coukl receive borh. The School does not have an endowment but6JTrds bursarles from inc¢)nK particularlyrhatgenerared from its trading subsdiary. St HdEn's Enterprls& Llmited. As * resulr. Ihe arnt available for bursaries mighr flucruate from year to year bur 15 generalty increasing (Ner time. The Sehod Is mlndful rhat k must ensure a balanceber%4wn feÈrf>aylng p2renr many of whom make conyderable per50nal sacrffices to fund their child's education. and those benefiting from the •w4rds. 2022-23 the Schoal prtr4fjded burs1 help to 79 chih4ren at a c05r of £1.325.708 equate5 to 8.5% of Sen1 school fee5. AD additi( three pupils %4ve hardship bursaries totalllng £27.8S6. The fees of 33 children were fijlty covered by bur and / lurther7 by a combination of bvr5arle5 and s¢hok#rshlps. Where appr(prlate for those on ffijll bursarie& the Sch&J also CsIderS ndIng ancillary cott¥ in particular lunche5. cOh travd and trips vthich are consldered a part of the curriculum. Jrsary funding has grovm to Its current lelel from a36.000 In 2007-2008 and a thJnd of £1.Sm has been budgered for 2024-24. The Governors of the Schod Inrthd ro bursaries a5 Schod finaThtes all¢)w over ¢irnE. Page 10
ST HELEN'S SCHOOL. NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 WritteTh inhrrnation about bursaries and hth¥ to appty fvx Them is available fr< the Admi5$1ons Department or the Accounts Department of rhe Schcd and from the P4Jr5ary and Hardship Policy published the Schwl'5 website. knforrnation 15 a150 available at Schod Open Days amij dixussed in the khool prospecrus. The Schoofs &Jsiness Direccor and Head of Finance are available during the school day to discuss p¢xential bursary or hardship applications. The availability of bursaries is artrvdy promoted at rketIng vi51t5 to local leeder schools and the Schod Outrèath Proxramme 5eek5 to identify and liaise th state junior schools £0 encouraKe applkant5 who mi&hr never have considered St Helen's co •ppty fry * bursary and a plate at the School. The Schod aims to gNe bursaries to those rt judges to reglre fee asslstance In a¢¢)rdan¢e Wth rhe fvnds the scho ha5 availablo The SchocA assesses * %4ide of ts¢¢¢rs. Includin£ Into j(lO18$, assets and Ilabllirie5 a5 %%11 a5 The 5pe¢tfic famity circum5tance5 in every cast Because clrcum51ances can differ vAdely in deserving cases, the School does not publish deralled bursary ¢rirexia. Schools Togerher St Helen's IrkS in partnership with other lotsl schoo15 in a varw of ways and is afvftys Icd(ing to develop and extend It$ partnership and LWtrea¢h As a 5chwl, bc4( carefijlly at wh¢ provision our Paryner5h¢) schoo15 need and look to support them in * mulrirude of ways. Our Year.12 Outreath and Volunteerir Programme is a bespoke progrdmme d¥igned in cdlaboration with wr Partnership schools. Ihus et)surlng tk we are maxirnising our 511PPOrt exactty vknere it is needed. As an independenc school, St Helen's ts cfjnmltced ¢ofuWllllng its responslblllty to share resources and facilitie5 th children and youTh¥ people in the Ic<al area to support. devebp and enhance the educational provision taking place in other local school serrings. Cu rrenr parcnershlp prole¢cs Our Year 12 Outreach and Volunreering programme sees 100 Year 12 St Helen's students eThter into schools In the loal communicy. where rhey take part in (i) Reading and Phonics literncy supporc. lill chr. Plano Violin music le5son5 Ciii) Craft club, (iv) Science club. {¥) Dr4mi Club. (vil Modern loreign Language club and (vili multiple PE club. Our studenis also go to SpeEial Educational Needs schods and facilities to sslst the learnl of Children with tdmplex medical newJ5. sa[rdaY Mastertlass sessions rnrt in tdlabowation wth a variety of Royal Slet14 such as Stem and Maihs lasses. enable 5rudenr5 frorn the I11 community to learn content above and beyond their standard curricu in their 5chool5. Sfand•altsne day evenrs such a5 csl sfHN. Animal Behav1Jr. Microscopes and bug Ih. Sporrs Sclen¢e. ar¥1 Sports Master class sessions bring students frc4n rhe local communlry into School to take part in high end above the currlculum leamlng. Future Projects A partnership relationship continues to be developed vthrh eight local Primary Schwls.. Cotelord schod, Eastbury Farni pmary, Frirh sch(. GrefieldS School, Hartyn School, Hillside School. frinlry C of E School, and St joseph's Catholic Primary School. as well as devel¢¥ing link5 Wth Gran%th School aTh Sunshine Houst Page I I
ST HELEN'S SCHOQ4 NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 Headreaehers from all schools are invited tovisit St Hden's to gain an appretiation of Ihe facilitles and resources that could be provided and to discuss and plan potential partnership prqKrs gdng fotwaré. Our Director of Outreach and Partnershlp, under the leadership of the School's Deputy Head of G>Curriculum. Operdrior and Parrnerships. vi51ts these schods regularty to gaiTh * dtwr undérsunding of each setting and the areas %thith St Hden's restyJrces might be of particularvalue The 4reed kcvs of offem.ngs is to enable pupils to experience specialist teachers ind equiprnent. todevel0p.cuural capitaf and Prnde a broader per5pecrlve c the opporturbities available to thern beyond primary schod. Comm unity Invofvement Sc Helen'5 invofve5 Itsdf in C¢mMUnItY In a %%ide varrety of Wdy5. OF particular lrnportance Is Ics eontmbut through the provision of bur5atie5- the School is particularty keen to encc4Jrage appllcant5 from rhe local ¢ommun6¢y. A sSgnffieanr number ol Schod staff are invofved in the%(Nan£t of I81 schools and Mub¢t Academy Trusts. On the SLT, Ihe Deputy Head {Atadeinkl. Depury Head ICo£urricular. Operations and Partner5hipsl Assistant Head ITeching and Learnin%) and Deputy Head of Prep khool are all Go¥emors In state-m&intain¥J schools. The School's f4ciliries Eorbtinue to be open ro fhe community iThcludin8 the gyTn and wmrnfjng clubs based at the sports centr4 sp¢xts clubs whKh use the all-vath¥ pitch and Air donx and the use of che School'5 grounds for community-focused sumnw camp5. The School a150 SUPPtYr$ the Milirary Covenant I and NATO Staff ba¥ed ar th¢ Pernneni Headquarters in NCrthM>. they are able to Ust the sMmIng pod every weekday rnoming throughout che year. The School has Ilnks with a IrKal Special needs xhod and14xal resident1 h¢>mes and rhe local ccmmunity is invlted to actend SchocA evenis. During Ihe acadeTThc year 2023-2024. the Deputy Head Co£urricular, Operations and Partnw5hips aims to fvrther iinhs T[h rhe Northr#)d Re5bJents A5S0aatÈon The khool raised 122.806 forchariile5 rhroUghttheyerChr0Jgh various iThltiatives such 3snon-uDiforrn day% cake Mles book reading and has beers able to suppcrt a numbEr ¢f intemtioMI. national and k£al charit5 including.. PHA& Lknin< Macnwllan and yc8 Mind. Volunteers The School's Head of Prep has set up a new Friends of St HelEn's grtp IFOSH) for the Prep khoc4 and Lhi5 has made an exCellt start. FINANCIAL REVIEW Results for rhe year Pupil numbers remained stable and Ihe S¢h4xI had a suceessfvl year financially %%ith inCon£ resources rocall L24.1 m12022-. £21.2ml with the Ma1ty (94%) zenerared by xh1 fees t)d other educational income. Sr Helen's En[erpse$ operntes under IKence frorn the School and activltie5 indude rETrting the School grounds and buildings a5 11 a5 a¢rNbries based in rhe Sporrs Complex. Incow* from the Enterpr15e5 expetted ro be to recover follov4ing the liking d Covld resfri¢tions. Hoer. with an increased focus on strategic direcrion, marketin8 and rebraThding to rdleLi the launch of Eve¢)is olknng in addition to the Sport5 Centre and venue hire. the Sehotrl retYed a contributycffi from Enierprises of 1346k for rhe year. The year ended wth EThterprise$ generating £1.070.000 P022 £992,000) revenue and £346.000 12022.. £397.0fy)1 operating surplus in the year. e611Th% it to donate L346.000 to rhe Schod under gift aid. The company held £522.00012022.. £556.0001 cash at the year end. Page 12
ST HELENS SCHOOL NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 The G(wernors carefully consklered theeconomic (1UMstanCeS vknen considering fee increases for the 2022- 23 acadernlc year and balanced this ayinst rhe Schod'$ Strategic plans to conrinue ro Improve the standard ol education offered and the facilities and staff resJrceS necessary and ir5 commitment to burgry scholarship funding. The Governors 4reed rhat f¢e5 ¥houkl increase by 3.S% to £22.218 ptr aAnum wth Prep School fees increasing by 3.S% ro £18.723 per annum from Septnber 2023. summary. day4trday expendlture remaintrj T1 ¢ontroJkd and the School gtrated Fbet incoming resource5 of I2.2m (2022: £1.4m). Net Current liabilities rtarbd at £0.96m (2022.. £3.6ml relletting acerned Iiabilitits. At the year end. the School hdd no free reserves Cash generated 15 invested in rhe provisKJn of educati, partlculady In Increased bursary nding. Flxed A$sers The directors are satlsfied thii there are no indicators of inwairmeTht to the market value of the Schod's freehold properties which 15 5ub5tantialty In excess cl ihe value and hence a prclessional valuatlc quantlfylng the dlfference is not rtqulred. Fundra15ing Fundrnising at St Helen's Is an imp¢)rtanr part of Ihe operation of the School but rÈmaln$ embryonlc. Fundraisf Is usu2IIy urbdertaken by che khool's Development Office and Jffiliatth organlsations of, primarily. volunteer group5 of parent5 and alumni. There are no professM)Thal fiJThdraising organisatlons used artd $0 r0 monitorlng processes required. The khool subscribes to the Fundraising Regulator and adheres to the Ccde of FundraIsvd Pracii¢e when undertaking fijndraising actThity. There no Complaints recer¥d by the School In relatittn ¢0 fijndraising activity in rhe past year. The khool (akns its reSPsIbilItY to any¢ vtho might be vulnerable very $wlousty and this Wll continue to be considered in rh¢ School's approach to fundraising activity. Reserves Policy The G0Vem are cornrnitted to a policy of continuing ¢0 impri)ve the Schod through buildlng and rtfvrbi5hmenc as as investing in teaching re5wrce& A substantial part of funding for this wll be mei from the annual surpluses of incorne over expendirurt As a consequente of the Governors. investment pP4ns for the Schod's buildin85. the School does not currently hdd any free rew¥eL The GLvernors are aware of • tree r¢s¢rYts defiert and do not consider that this prtwits a financial risk to rhe Sthod in che short to medium rern) v4hilsL net incorning resource5 remain strong. The policy on reserve5 is reviewed annually by the finance and Risk Cornmittee5. The School currenrly plans ro invest its annu operating surpluses buildiThz5 and facilities in the coming years. in line WLh the School's strategic development plan aThd Estates Masterplan and wll continue to keop its dwelopmenr plans and fvture requirement for resekves tsnder riew. The Governors are satlsfied that operating cash Ilows remain strong and ill be sufficient to &ll¢)w the School to meet its liabilities as they tsll du& HovRver. the Governors a150 recognise that th¢ levd5 of reserves I11 fluctuate in response to ¢¢onrffiic conditions and during pencrt4s of strar¢gl¢ Investrnent in the School estare. In july 2018, a small finance fdcility wxs arrnnged vArh rht School's bank to accommodite shty( rem cash ow requirements during the capTtal programme and this arraThgemt continue& ReEular dtalogue Is malntalna wth rhe School's bank to ensure th3r the approprlate financial facilitie5 are avallabk to tall on should the need arisc Accwdingly, rhe Gov¢rn•r5 ¢51der that the 8oing<oncern basls remains appropriate for Éhe preparation of the Schotsl's #¢¢ounrs. Page 13
ST HELEN SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 RISK MANAGEMENT The Council of GnorS is responsiblt the management of rtsks faced by the khod. The Governors reviews and agrees the School's fornHI risk regixer and eaftsiders risks in rhe fn8 areas.. GoverThance cr n4nagerYwr rfsks Jsiness inylemehfarion risks Operational risk5 Financial rfsls Exitrttal and regularwy rtsks. The Governo5 Conder the prbncipal risks &clng the Schcd to b Fallures In SafiguardiThg. The GovwnoTS mitigate against this r15k thmugh the appc•ntment of a hominared G¢)v¥n¢x for Safeguarding wtho repcrt5 to rhe fvll C¢yJncil twmly. The Safeguarding Governor kads annual reviev45 of Safeguarding irhin the Schod to ensure that all rdevant pomeles procedures are imPlented and undersiood. The G)vernors also ensure that the School acts in a¢¢ordance wch the iTrstruccion given by Ihe Independtnr Inqulry into Child Sexual Abuse regarding Ihe rttention ol personal dar& Affordabilily. The Govern¢x5 are mind(ul of the pressures on parents regarding fees. parrlcularly in the current econonNc climate ith the c05t4JHivin8 cri51& and Lries not keeping pace iih the high rates of inflation. VAT Risk The governor5 are vRluating rhe impacc crf the potential chaTh¥e In xovernment 1th may restslt In ¢he Iwyirbg of VAT on schoc4 fees and are aciively de¥eky3ing mltigaring action5 together wth thÈ provislon of a Hardship Fund to help rhose in need. Failvre5 in Healrh and Safety. The Governors desigrsate a Governor to monitor the Schoc4's Health and Sol¢ty arrnngements. The desi£nated Governor attends rhe Schod's regular Health and Safety Committee meetings and plays an active role in (he monitoring of relevant high-ri5k area5. The Schod ts supported by extemal consultants conducl indewdent annual Heakh and Safety review5 Nthich are scrutinised by the Governor5. The GernOr5 are satisfied char all major ri5k5 Ideniised are adequately understood. being assessed and managed across the School and that appropriate rnitiptioh n•sur¢s and controls are Implemented a5 ar when nece$5ary. FUTURE PLANS The School lauThched Its 3-year 5traregl¢ plan ih july 2020 and it was wbsequently extended by 1 yer to cover Ihe 2023124 3tadtmlc year. Ir includes the fdlowing strands.. To ensure (hat all pupib chleve rhwr potential and make exceptianil progre55. They develop the St Helen's learner habiE5 and develop lifelong inrellectual curiosity and tenatity. AU pupils devehp the Sr HdeTh's ¢hart¢i¢r afthbures. know how to k4)k alter th•r own and orhers wdl.being and become confident. resilient young worn rtady for 4¥hatv4er the tUre bring5. To recruir. develop and retain theoutstanding5¢aff Ihatdelver Iht very besr teachingand learning.suppryt and £uldaN¢e In *yd¢r ro faclllrare acaderrric and Peral devd¢)pMt for all. Page 14
ST HELENS SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2023 To ensure that leaders ar all levels sy¥ttrnacicalty evaluatethe iryact ofsrru¢cure5 and strategies and d17 forward dte<¥ive and $u$tainable improvement to academic and personal developmenr for all. To provide the highest quality vIrOn1 facile5 and support stnJ¢rutes to facilitate outSt&rsa academlc and personal devdopmenc for all with secure and stable financial planning. To maiThtain the Schcd's reputatim In rhe community as one Nthere ambitiaus gid5 rhrive academical and personalty. As part of the 5UPPOrt strand to the Strategy. the khool ha5 developed a 10-year Estates masterplan lollowng on from the complttion of Irs prevlous plan vknich saw the devdopment of the junior School &Jllding. Mackene 6 Forrn Centr4 School of Music and most retentty the ¥fEM building. The fiew plan focuses on che development of an Arts and Culrurtl Centre providing a multiurpose venue to showcase large School Events and productions as wdl as comrwnity and c<)mrTw¢ial actryities. There is also a plan ro addre55 the lack of dining room Capaciry and to Improve cattring facilitie5 in the Gabks bullding. toxether with dedicated changing facilitl¢s and a PE office Tr•hich are PO provlded for acr05S the Schcd. Work began on the dedicated changing facilities nd PE Office to be completed in the summer of 2024. However, the rett of the plan is n¢)w on hold vknilsr rhe Governors evaluate the Potent71 impaci of VAT on fees. The School Is currenily wwking on a Syear strdtegic plan covering 2024-2030 undtr rhe IEadership ol the Head and wth rhe full $uppert of the Board. Thk is se¢ ro b¢ published in Jufy 2024. The Go¥erhors are committed to further developlng Ilnks iith the State sector and ktal tommunity ir line th the Schoo15 Together progrnmme. The School wll be extending irs tonnxrions with local State Schools borh In rerns of shared educational objectNes and rhrwKh the furtherdnce of our bursary progrdrnme into schoo15 have not previousty c¢fisidered the option of their girls atrendirhg St Hden. . This Annual Report. prepared under the Charitie5 Act 2011 and the Companies Act 2006. was pproveé by rhe CouThcil gl Governors of St Helen'sschool. North*A)d OTh 11 March 2024 includrng In th•r capacityas company directors approving rhe Direttors. and Strategic Reports contained thèrein. and 15 signed as authorised on Its behalf by- Philip Young Chair of Council ol Governors Page IS
INDEPENDENT AUDITOR'S REPORT TO THE mEEftS OF ST HELEN SCHOO4 NORTHWOOD YEAR ENDED 31 AUGUST 2023 Opin ion We hve audited the ffinancial 5Cat¢m¢nts of Sr Hekn's Schcd. North for the year ended 31 August 2023 which tomprfjse the Consdidated Statemr of Tr"nancil Acti¥itie5, the Con501idated and S¢hool &lance Sheets. the Con¥dted SuremtTht of Cash Flov6 and ntstes to the financial sratements. including 3 5urnmary of significant accounting pdicie& The firtan0 reporting framtsth that ha5 been applied in their preparation 1$ applicable law and Ursited KiThgdcffi Accounting Standards. tncluding h"nancial Rep¢xting Si#ndrd 102 The 'nanci Reporting Srandard applicable in the LK •nd RW¥Ubl of treland (United King40rn General Accepted AccountiThg Prattite}. our oplnion, the fiThancI llaierrYhr5= give 2 true and fair eW of the Stare of th¢ grnup's and ol the parent chari¢ablE¢ompaThy's affalrs as at 31 August 2023 and ol che gr¢yJp's and parent charitable ccryany's net mrNement in ffijnds IncdIng the Income and expendirur4 for the year rhen ended. have been properly prepared in accordanceith iknit Kingdom Generalty Accepted Ac£cJnl1n£ Practk aThd have been prepared In xc¢vdnce wlth the require of the CnpaThIes Acr 2006. Ba515 for opinion We conducted our Judit in acc¢xdance wth Intern4rioNal Standards Auditing IUKI IISA5 (UK}} and applicable law. Our responsi"[ItIeS under those xandard5 are fvrther described in the Auditorfs resp¢y)siE4lities for the audit of the finandal SEaitrnents se£tion of wr report. We are Independenr of the groLbP accordance with the ethical requiremenis th3E are relevant to audit of the financ1 starements in the UK. includirtg rhe FRC'S Ethical Standard. and Y4f have fvlfilled our xher ethical respsIbIlit$ in accordance with these requiremffit& We btjieve chat rhe udiE evidence have ob¢ained 1$ sufficient and apprtspriate to pr¢wide a basis for our opinion. CoD¢lusioms relring to going concern aLTrdityng the finanoal statement& we have concluded that the ¢ru$r¢es' use of rhe %fig concern basis ¢f accounting in the preparauon of the finan¢io1 statements is appropriat Based OTh fhe work we have perforn)ed. have not identified any material uncertainties relating to events or tonditi¢)ns thor, indimdually ccAlectivety. may cast stKni5LaAt dtyjbt on the group's ability to continue as a gn8 ccfficern for a perifyl of at least tAwe months from whem the thAan¢ial stt¥wits are authorised for 155ue. Our r¢$pon$lbilbties and the respOnbIlItieS Lrf ihe trustees ith respect to 80in8 concern are descrtbwj in the relant se¢tlans of this report. Other iThforrnation Th¢ trusiees are responsible the oth¢r infornution. The other inforrnaiion comprises the Information Included In the Trustees. ReporL Our op1h1 w rhe fnarscial ttatements doES hor tover the other inforrnation and, except to the txtent otheTh¥ise explicitly stated in crtjr reporL do not express anyform of auurnThce conclusion there. coThnertlon lth our audlt of the finandal sr3Eerrnrs our re5pon5ibllity is to read rhè other Information and. in doing so. consider vtherher the other infonnaoon is materially irscoTrsistent with Ihe finan¢ial statemencs ¢y our knovAedge obiained in the audit w OtheSe appear5 to be maternally misstaced. IF we identfy such materMI iTrcoThsistencies tr appar¢nr marerial MISStatents. are requlred rc+ decernilne vthether there 15 a material misstatement in the fin3n¢uJ staitments or a material ml55taternent af the other informatlon. If. based on the have perfrned. t+)nclude thac Ehere 15 a material mi55taterneni e( this other information. ar¢ w4ulr¢d to report that fact. We have norhlng to rep¢¥t in thls regard. Page 16
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST HELENS SCHOOU NORTHWOOD YEAR ENDED 31 AUGUST 2023 Opinions on other matters prescribed by rhè Com panles Acr 2006 In txjr opinlon. based on the undertaken in the course of the audir: the inforrnation given in theTrustees' Report (knthich includes the strxte8iC ryort and the directors. report prepared for ihe Purpo of company wI for the financial year for ch rhe finan¢lal sta¢ement5 are prepared 15 ccsiSten£ wth the financial staremen¢5- and the strategic report and Ihe directors. rep¢ included wthin the Trustees, Annual Report have been prepar¢d IA a¢¢ordan¢e w¢h applicable legal requirwnents. Matters on which we are required to report by exception In the light of rhe knoedge and understanding of the grtyjp and the parent chariiable cornpany and its environment obtained in the course of Ihe udl¢. have not Idented material rrisstatements In Ihe Trust. Re•ort (whlch Inc¢yporate5 the strategic rewt and the dIrOrS. report}. We have nothing to report in respect af rhe follu•Ang rnatter5 in relation to vknich the Companles Acr 20C requlres us to report to you If. In ryJr oplnion: adequate accounting records hav¢ nor beerb kepr by the parent Charrtab company: or rhe parent charlrable tompanyffinancial statements are not in agreement with Ehe ac¢ountlng record5 aTrJ returns., or certait) disclosures of rnjsrees. rernuneratmjn specified by law are n¢X nMd4 or V+t have not re¢ed all the information and P1aallonS rtqyire for our audii. Re5ponsibllitie5 of Trusiees for the financlal statements As explained more fiJlty in the trustees, responsibilities sutemènt set out on page 7. the trustees (who are also the directors of the charitable company fw the purp05e5 of company lawl are responsible for rhe preparation of rhe financial staterrntS and for being satisfied thar ¢h¢ygr¥e a true and fair view. and for such internal control as the trustee5 detemine is ne¢es$3ry to enable the preparation of financial statemenrs rhat are free from material mi$statent. whether due to fraud or error. In preparin£ the financlal $taternen the tree$ ar¢ reswsible for assessing the group'5 and the parenr charitable company's ability to Conrinue as a gcAng concern. disc105ing, as applicabl< matcekx relE¢d to going concern and using the concern basis of accounting unltss rht rru5fees either intend to liquidate the group or the parent charitable Éompany or to tease operations. or have no realistic alternarNe but to do 50. Audiror's responslbilirle5 for the audit of the financial statemertts Our objectives are to obtain reasonable aUnCe about vthether the finaThcial statements as a vthole are free from material misstatem& therher due tofraud or error. and to 1$5ue an auditor's report rhar InehJde5 our opSnlon. Reasonable assurance is a high level of assuranc4 but is rtot a guarantee that an audit conducted in accordance %%ith ISAS IUKI wlll •W4ys d¢tea a material misrtateTht Nthen it exitts. Missrar¢trKnts Can arlse from fraud or errtr and are ¢sided material i( indidlI or in the aggregèt& rhey eouW reasonabty be expected to Influence the ecorsomic decisions of users tak on rhe basis of these financTal statements. IrregularlEles. including fraud. are instances of non-conwliance la and regulatlons. We deslgn procedure5 In liThe wth Jr responsibilities outlined abov4 co deEe¢t terial mi55tatement5 in respect of Irregularitie& including fraud. The exteh¢ ro thi¢h our prixedure5 are capabk ol detecting irregularliles. Includlng fraud Is dtrailed below. Based our understanding of rhe charity and rhe enviremmenr irb wthich It operate& identified that the principal risks of non•compllance wth lav45 aThd regulations relared to the independent sch¢xl relarions. sfeguardlng regulafions. health and safety requirement& GDPK employrneTh¢ law and (harfty law and we on5idered the extent to whKh non<omplian¢¢ mlghE havea material effect on the finaThcial statements. We also considered those laws and reguJatiry1s that have a direct impa£t on rhe prepaTrEion of the financial Page 17
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST HELEN'S SCHOOU NORTHWOOD YEAR ENDED 31 AUGUST 2023 statements such as rhe Charities Act 2011 and the Companie5 Ac¢ 2006 amd consbder other fact5 such as PAYE Lax. We evaluated management's incentive5 and opwrunliks for fraudulent manipulation of the finxntial sutÈmenrs (including the risk of override of contro151 and detennined Char The principal risk5 were related to the irnproper recogTriiion of revenue and managerwit bias in accounting e51imares. Audir pro¢edurès performed by the engagement tearn inClded= Inspectlng correspondence wth regulartys and r•x authrlrb4 Discussian5 I7¢h rnanagemenr including consideration of sv5petted Insrah¢esof non 4omplance th lavo and regulation atbd fraud.. Evaluatin% managemt'S ¢oncrLqs d¢slgrl io prwent and detect irregularitles ethilfylhg and testing journals. in partIcur j4yJrnal entrie5 Posted ar the yearend; Chxlknglhg assumprlons and judgements made by mana8ewt in their crirKJl arcounuhg e5rlmat Because of the inherent limitations of an audit. there is a risk thir¥t 111 nor detect all irreEularltle5, includl chose leadlng fo a nurerrdl rnissratement in the financial ttatet$ or non<¢)mpliance wich regulation. This rlsk Increase¥ ¢he rnore ihar coMplnce with a law or regulation 15 fvred from rhe evenr5 and rrnnsactions refiected in rhe financial statements. as we ryll be le55 likely ro becom¢ aware of Instances of noTr-ccmplance. The rlsk 15 $0 greater regardiThg irregularities c<currin£ due co fraud rnrher Ihan eJror. fraud invdve5 iThtention coTrcealmenE forgery. cc41uyrffi, omission misrepre5enratlon. A lurther de5cfipfion of re$p)nsibifles fw the audlrof rhe financial statements is located on the Flnah¢ial ReportiTrg Council's wEbsiie al: ¥Aww.frctsg.ukJaudirorsr¢spongbifiries. This desctlptlon forrns part of iuditor's reporL Use of eur repori This report is rnade 5okty to th ¢harrir•bl¢ Mernbe as a bcdy. in accordanee ith ChapEer 3 of Part 16 of the CoTryaThies Act 2006. Our au&"¢ has been undetTaken so that rr•ght state to the charitable company's members those matters a required ¢0 sure ro rhem in an Auditoes report and for no orher purpose. To the fvllest extent pernmtted by law. do not aetept X assumÈ resptsnsibility to aThYCe other than the charitable coryany and rh¢ charitable companls Membe as a body. for our av&r( for this repor4 or for the opinic% havE fwmd. Kathryn Burton Senior Statutory Audicor For and on behaw of Haysmaclntyre LLP Sraturory Audltor 10 Queen Street Pce London EC4R 1AG Dat 28th May 2024 Page 18
ST HELEN'S SCHOOL. NORTHWOOD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 AUGUST 2023 2023 2022 rotol 2023 £'ooo Note5 Re5trirted Unresrricred rotol 2022 £'ooo 1023 £'ooo 2023 'ooo Income from.. Charitable actlte5 Fees recelwable Ancillary & other inccme Other trad ing activitles Non4n¢lllary tradlnl tncome Investments Bank and xher inve51rnents Voluntary sources D2natian$ GoYerThment grant Total Intom in¥ resources 22.638 244 22.638 144 19.865 2S3 1.070 1.070 992 141 14f 130 24,093 24.098 21.247 Expendlrure on- Raising fuThd5 Non4nCllry rradiAg 350 3SO 350 350 324 324 Charttab le actlvltles Educaiion Total expendlture 21.609 21.959 21.609 21.9S9 19.509 19.833 Ner Income 2.134 2.139 1.414 Gain unfvnded pension 15 15 13 Net movement in funds for the year 2.149 1154 1,427 Transfer between funds Tocal fiJnds brought forward 298 26,362 26.660 25.233 Total funds carried forward 17 303 28.511 28.814 26,660 All income and expenditure rltès to eontinuing activities. The notes on pages 23 to 34 form pari of f he5e financial statements. Paxe 19
ST HELEN'S SCHOO4 NORTHWOOD CONSOLIDATED BALANCE SHEEr AS AT 31 AUGUST 20Z3 2023 £'ooo 2022 £'ooo £'ooo Fixed a55e15 Tn&e assets 30.253 30.451 Current a5se¢s Debtars Cash ai bank and ih hahd 10 11 559 3.451 4.010 (5.323) 617 1,200 1.817 15,4681 Crediror5.' arnounts falling due wlthin ohe year 12 Net currehr lablliries 11.3131 {3.6511 Total assets le55 curreni Ilabllitles 28.940 26,800 Credltors.. amounr5 falling due after more than on¢ year Deferred hcome 142) (421 Provisions for liabllities Unfvnded pensions Ner a$set$ 14 (84) 18.814 (98 26,660 Fund$ Restricted Unrestricted Total lunds 303 28.511 28.814 298 26.362 26.660 17 The C*xsolida£ed income aThd expenditure account includes a yjrplus of £1,805,00012022.. £1.631.tnO) thith. dealt with the financial rtatwneDts of the part c¢Jmpany_ Approved and £ed far issue by the Bc¥ird of threctors on 11 Marth 1024 and ggned on its behalf. PhUlp Young IDlre£torl Nadeem &Jghani IDlrector) The notes on pa8e5 23 to 34 form parr of these hnanclal statemeTht5 Page 20
ST HELEN'S SCHOOL, NORTHWOOD SCHOOL BALANCE SHEET AS AT J I AUGUST 2023 Notes 2023 £'ooo 2022 'ooo I'ooo Fixed assets Tangible assets Current assets Debtars Cash at bank and in hand 30,253 30.448 10 11 841 2.929 3.770 {5.093) 894 fA7 1.541 15,196) Creditor5= amounts falh'ng due wiihin one year N¢r ¢urr¢thc Ilabllirle5 Total assets less eurrent liabllitie5 12 1.3231 28.930 {3,6551 26,793 Credliors.. am outtrs falllnK due afcer rnore than one year Deferred Income (42) 1421 Prov151on5 for liabllitles Unfunded penslcms Net assets 14 17 (84) 28.804 198 26.653 Funds Re$trleted Unresrricted Total funds 1S 303 28.501 28.804 298 26.355 26.653 17 Appraved and s¥ned ft>r issue by the Board of Directors on 11 M*r¢h 1024 and signed OTh its behaw.. Philip Young (Director) Nadeem eoghani (Directorl The notes on pages 23 to 34 form part of these financ41 51arements Page21
ST HELENS SCHOOL. NORTHWOOD sTATENT OF CASH FLOWS AS AT 31 AUGUST 2023 2023 £'ooo 2022 £'ooo £'ooo Nei cash outllow from operations.. Net cash provided by operating acuTrAtres 3.069 2.579 Cash fkjw frorn investFng actrvities-. Purchase of tangible fixed ossets kncome from bank & other investments Ner cash (used Inl I provided by investing activitie5 19591 141 1707) (818) 1700) Change cash and cash equlvalents In the reporting perioa 2,251 1,879 Cash and ¢3sh equlnlents at beglnnlng of perir¥J 1.200 16791 Cash and cash equivaknt5 at the end rhe repartlng 3.451 1.200 (Il Recontlliacion of ner income to net cash flow from operating acrlviibes 2023 2022 £'ooo £'ooo 2.154 fOOO 1.427 Net incomlng resources Ellmlnavon ¢f non4Jpernting cash flvw5'. InvestmeThts Inc4Jme Deprecia11 charge Loss on disposal of fixed assets Oncroastydecrease In debrors IDecreasellincrease ir% creditors {tx¢luding fe¢5 in advance $che and deposit) {141) 1.154 17) 1.098 58 (227) r211 1141 (71) (13) Ptyision Scheme revaluation Increase in fees in advante scheme creditors Incr¢w parents depoyts 207 (331) 146 226 915 1.152 Net cash inflow from Operat$ 3.069 2,579 (ill Analysls of cash & cash equlvalents 2023 2022 {00 Cash Jr bank Overdraft 3.451 1.200 3.451 1,200 Page 22
ST HELEN'S SCHOOU NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 The compory is O PrNote limited com Inco¢r01ed in the E10nd t14 Wales (w"stered m 00420867} or oprates frorn its registsred oifitt in Edsttwry Rott4 Nortlvw4 Mitllesex. HA6 3AS 1 ACCOUNTING POLICIES (al Accounting convention The finn¢ll $raternent5 have been prepared in ateordancevith the Finartcial ReporrinÉ Standard applicable the UK and Republicof Irdand IFRS1021. (he Companies Act2006 and the Starernent of Recommded PrdCti£e applicable to charities preparing their accounr$ In a¢e(xdance wth the linancial R¢pcrtinz Standard applicab n (he UK and Republic of kehnd (FRS 102) - Second Edrcion. The fiJnctloThal currency of the School is considered 10 be GBP because that h rhe currEn¢y of the primary economic environrneTht in thlch the Schooj operate The &ccount$ are drnvm up on the historical c( b5 of acCntIn as modlfizd by the revaluation of Investrnent properties and orher InYe5tnnt& The School hastk¢n advantsgeofthe o¢eTr¥Jtlon avalLabktoa qualfylngentity irb Ffts 102 frcffn the requiremen¢ ro pre5enr a ¢h3rfty only Cash Flow S¢acrnt v•ith the conscAidated financial Sratement The School is a Publlc Benefit Entity regisrered a5 a Eharity in England and Wales and a cornpany Ilmited by guarantee. k was InCPOrated on 04 Ocrober 1946 (company numbw. 00420867) and registered as a charlty on 21 March 1963 (ch4riTy nutrt>er. 312762). The khool ha5 taken advantage dtheexemptron undersettion 408 of rhe C¢rnpanies Act 2006 not ¢0 publish it5 oym income and expendirure account. Crl¢i¢al c¢ounrlhg judlements and key sources of estimatk)n uncerralniy the application of the atcounting pc4icies. trnstee5 are required to make judgeftnr. e5timace5, assumptions about the carryin¥ value of asE$ and liabilitie5 that are not reaJily apparent from other sour¢¢%. rhe estSmaie¥ and undedying assumprions are based on hIOtal experience and other factors rhat are considered to b¢ reltranL Actual results may dlffEr from these e5timate5. The estimates and undedying assumptions are reVId on an On8ng ba$i$. Rwsions to accovnting esrirnates are recognised the ptriC4J in v+hich the estimate r5 rSed rf the revision affetts onty that period. or In the period of the revis and future perlods rf the revision allecied curreni and furure periods. In the view ol the trurtee¥ no Assumptions concerning thefvrure or ertimatioTh uncertainty affecting a5set5 or liabilitle$ at the balante sheet date are likely to result in a material adjusrnnt to thvr carying amounts in the nexr financial year. {bl Going Concern Havlng revie%%d the fijnding facillcies available to the School togerhtr wth ihe expected ongolng demand for places and the School's turure proiected cash flovth the Governors have a reastsAable expectation that the School has adequate re5wrces to continu¢ ir5 activities the foreseeable fvture and con51der that ¢her¢ were no rnacerial uncertainrles ov¢r the Schod's financial •bIlITY. Accordingty, they conrinue to adcyt the going concern basis in preparing the financial statemEni& Icl Consolldation The coThsolldated financlal sratements consolidate the ffinanclal statements of the xhool. 115 Ytholly owned subsidiary. St. Hdert's Enrerpri5e5 Limited, company number 01834608. No separate Statement of Fin•n¢i Activitie5 ISOFA} has been presenied ft>r the charity alone. •$ p¢rrni¢ted by Section 408 of rhe Cornpanie5 Att Page 23
ST HELEN'S SCHOOU NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 {dl Fees receivable and similar income Fees recvvable aAd charges for rhe use ol Preie% ire accounted for in the perriod in which the 5eMce Is provided. Fees receivable are Stit deducting l0ne bursari4 sChOr5b1pS and other remission5 granied by the schod from its unrestricted frjnds. Donat$5 are accounttd for vthen the School knows wrh probabilitythat the funds will be recved. Donavons reeeNed lor rhe8eneral purpose of the Schod are credittd to unrestricted funds. Donati¢$ subiect to the specik V+ishes of rhe dorsor are credited ro the relevant restricted fijnd. Where d4xaticS are rectived other4%ise thaTh in tash. they are valued at the mark¢t ¥e of the undedylng assets received at the date of recEIpL {e) Expendi¢ur¢ All expenditure is accounted on an accruals basis and has clas&fied under headlngs rhat aggregate al cost5 4llotted to that category. All expenditure is stated gros5 of irre¢oYerable VAT. Charitable expendlture comprises those Costs In¢urred by the charity ITr the deliyery d its activits and sexvices lor its beneficiarie5. It Includes both cost5thatcan be allocared directtyto suchactiO¢s8nd those costs dan irbdlre¢¢ narurenecessary to 5upp¢>rr Ihem. Support C05rs cOmpSe genernl managemenL gov¥nJn¢< accountin£ and fjnarbcing. G¢Y2n£e c05t5 are the osts associated Vith the gen1 running of the charitable ¢Mipny as opposed co Ihose ¢o¥rs assoclated %%ith tu#dra15ing or CharitabactIty. heludedithin thiscategoryare cosrs associated th the strateglt as opposed to day-to4ay minag¢ment of thecharicable ¢gmpany's acrivit5. The rernainder ofche support costs are shov as support C05t5 of 5¢hoding. 11) Bursarie5 Bursarie5 nd$ are provided for and included in expenditure the to 31 August 2023 as they are subject to remew ar the end of that PUiC41. (g) Operating lea5e5 Rpthrals under operating leases charged on a straighr4ine ba515 the lease tenn. even If rhe payments are not made ON such a basi& 8eneffits received and r¢cebvable as an incenrive ro S-VdTh an ¢JpeThting lease are slmilaAy spread on a straightline basis the lease ipm (h) Fixed assets aThd deprÈ¢lation Depreciation 15 proded ()n ffixed assets in use except tr¢thold Pand. at rates designed to wrfte off rheir c05t less anticipated redal value over the period c their estimated usefvl lives. The rate5 Used are: Freehdd buildings - 2% d cost Temporary bulldlMg5 - 20% of cost lixture5. Irrings and equipment - 10% of cost Computer and poc4 equipment - 33 113% dcost Motu vehlck5 - 25% of cosi Gym Equipment - 20% of cost Atquisltlon c4 equiprnefjt for educat11 purposes is VTilten off to education costs In the year af purchase A55e15 consrwction are capit3lised but noc deprecia¢¢d until broughr into Use. Significant btsildffvd improvements Sxcure$. ffitiings and equipmenc art Capitallsed and carried in th¢ b•lan¢e sheet at hlstorical COSL Icem5 Costing less than £2.000 art tten dr in the ye¥ of purchase unkn undwtaken as i prlect then the whole amount is capitlSed. Page 24
ST HELEN SCHOOU NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2013 {il Pension schemes The School ton¢ributes to the Teachers. Superannuation Scheme a£rates set by rhe sChty acruary and advis to the board of directors by the scheme adminisirator. The school also contributes to a dned contribut1( sche for non.¢eachin¥ 5raff. The contributions charged ro rhe income and exptnditure attJnt In respect of both 5cheme5 are those payable in accordance wirh the ryle5 of the scheme5. The School has un(und2d pension cornmitments to fi)rrner employees. PrrNislons hr the capttal Cosr of rhe commitments have been made based on Ihe lrfe expectanry of the l)nrnr employee5. based on calcvlatiu performed by a qualifiedactuary. k wa5 355umed rhatthe annual payments wJId increase ar the rnie of intrease In the refall prfces index each year. A discount fdCtorequNalent to the yield on long dt¢d AA rdted corporate bonds was Used to calculate the of Capiral. 11) Flnanelal Ins¢rument5 èaslc fin•ncll Insrrumenr5 are InttSalty recoKni5ed at transactlon value and 5ubwueThtly mÈasured at amortlsed cost th the exCeptiC cl investments wthich are held at fair valu¢ Financtal a55ets hdd at amort15ed cost comprise cash at bank and in hand, rogethervAth trxde and other debtors. A specrfic provision is made for debts for vthi¢h re¢ov¥ablllty is in doubt. Cash at bank and in hand is defined as all ¢ash held in Instant acces5 bank accounts and used as %thng capitsl. .anCial liablllrles held at amertised cost comprise all creditors excepi social securfty and other taxe¥ and pr<Myon5. {k) FuThds Fund$ held by the charlcy art. Unresiricted fiJnd5 are funds which can be used in aecordance¥AEh the khoof5 objeEt5. at the discretion of the board. Restricred funds are lunds that can be used for PaKUlr resrriued purpose& wrhiTh the objects of the Scho. Re5triciions arise vthen specified by Ihe donor. STAfus ANO MEMBERS The company 15 limited by guarantee. and th¥dore does nor have a share capital. Each member has agreed tha¢ In rhe evefic of che company beng Ind up, he or she wll conrribure ro rhe ass¢u a sum not exceeding one pourbd. CoThtrol of the company is vest¢d in lh¢ Council of Govemert. Trading ActivitiÈs The khool owns 100% of the isgjed share capiul d Si Hden's S¢hvx4 Enrerprt5es knrnited (Enterprises). The principal activity of th¢ COMnY Is ¢0 genertre into* for the use of the School in support of the Schoofs educati¢)nal obje¢cfves. During the year the in£er<¢)mpany rran5èCtions bet%sw the Schcd and Enterprises amounrtd to 1344.333 12022-. £271.4761 eXCldIng the gift aid. Durin¥ the year. Enterprises paid the Schod £325.35012022.. £271.4761 In relatlon to a 5eryice charge and £60.000 (2022.. 160.000) in relatlon to a licence 12e. In addition, a gift payment of £345,851 P021.. £397.107) wa5 made in relation to the 2022 taxable surplu& The Company donares Irs taxable profits to cheschod each year underthe Gift Atd 5¢heme. k$ tfddlns results ex¢rn£ted from Ic5 audited accounts Page 25
ST HELENS SCHOOL NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 2023 2022 Turnover Cost ol sales Gross proflr Administra£Ne expenses t profit Sundry income Interest recelvable 1.070 (608) 462 (128) 334 992 1473 519 1123) 396 Donation under gitc aid Retained prollr 346 (3971 Fbxed assecs Current Assets CREDITORS.. amounts fairing due wlthin one year NET CURRENT ASSETS 586 1578) 674 (6691 TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Called up share capi¢al ReraiTh¢d earnlngs SHAKEHOLDER'S FUNDS Page 26
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 Fees recelvible Consolidated 2023 2022 'ooo £'ooo 24.550 21,351 Tultion Breakfa5tlAfter 5chod club5 24.550 21,3S1 Le5S.' Schdarshlp$ Bursades (495) 1.4171 22,638 1376) (1.1101 19,865 The total numbw of pupil$ in rec¥pr (. Schol3r5hlp5 and forces di5wJnt rse1 Number 138 79 Number 133 68 Ancilhry & Oiher Income Consolidated 2023 £'ooo 2022 'ooo O¢her educat40nal income hool and other recoverable itern5 Regi$craElon feeslfees in 1Seu of notice 149 149 151 151 Other an¢ill•ry income Rent receN2ble Insurance £'ooo 38 £'ooo 35 Other 57 95 66 102 Charitable ActNlry Expendlrure Deprec- iation Total 2023 £'ooo 12.358 1.751 3.570 4.280 21,959 Total 2022 £'ooo 11,084 1.673 3,159 3,917 19.833 Staff £'ooo 11.656 310 589 2.536 1S.091 Other 'ooo 702 1.441 1.827 1.744 5.714 £'ooo Teaching Costs Welfare Costs Pr¢mis¢$ Cosis Supports Costs 1.154 1.154 Included In Support Cost$: Audit fees - currene year 24 22 During the year, £378 reimbursed to govemors P022. £658). During theyear, expenses amJnting to nll 12012 - £610) wwe p21d on behaw of th¢ goverrt¢Y5. Page 27
ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS
AS AT 31 AUGUST 2023
7 Staff Information
| Wages and salaries Social security costs Other pension costs Agency staff The number of persons employed during the year was: Teaching staff Non-teaching staff |
2023 2022 £'000 £'000 11,467 10,350 1,234 1,067 2,002 1,863 |
|---|---|
| 14,703 13,280 388 409 |
|
| 15,091 13,689 |
|
| Number Number 179 169 166 165 345 334 |
No emoluments were paid to the directors of the school.
The number of employees whose emoluments exceeded £60,000 was:
| Number | Number | |
|---|---|---|
| £60,001 - £70,000 | 18 | 18 |
| £70,001 - £80,000 | 12 | 6 |
| £80,001 - £90,000 | 2 | 3 |
| £90,001 - £100,000 | 2 | 1 |
| £100,001 - £110,000 | 1 | - |
| £120,001 - £130,000 | 1 | - |
| £150,001 - £160,000 | - | 1 |
| £310,001 - £320,000 | 1 |
Contributions of £529,235 were made to the Teachers' Superannuation Scheme for 24 (2022 - £422,925 for 24) higher paid employees and contributions amounting to £45,244 were made to a defined contribution scheme for five (2022 - £35,060 for five) higher paid employees.
| £'000 | £'000 | |
|---|---|---|
| Aggregate employee remuneration of key management personnel | 1,497 | 1,273 |
| Number of employees | 12 | 12 |
Redundancy and termination payments of £265,594 were paid during the year (2022 - £140,766).
Page 28
o vo
ST HELEN'S SCHOO4 NORTHWOOD NOTES TO THE FWANCIAL STATEMENTS AS AT 31 AUGUST 2023 Subsidiary undertakings The school has a subsidiary company. St Hekn's Enrerprises Limited. vknich is owned and incorporated in Erbgland and Wales, company number 02834608. The principal activw of St Helen's Enterprises knrnited is to Eenerdte trading income th khool. 10 Debcor5 due wlthiA ont year Consolidated 2023 £'ooo 112 School 2023 2021 £'ooo 183 2022 £'ooo 66 396 432 894 Trnde debtors Amounts owed by subsldmry undertahSn£ Prepayments & accrued in¢rffie 50 346 445 841 447 434 617 559 11 Cash at bank and in hand Con501idaced Total 2023 School Ttsrl 2023 £'ooo 2.928 Total 2022 Total 2022 'ooo 646 Current acc¢)uni$ Cash in hand 3.450 1.199 3.451 1.2 2.929 647 12 Creditors due wythin 1 year Consolidated 2023 'ooo 310 1.838 1.360 290 743 772 5.323 School 2023 I'ooo 315 1.648 1,358 288 745 739 5.093 2022 'ooo 501 1.631 1.691 312 730 603 5.468 2022 £'ooo 479 1.460 1,691 295 730 547 Trade creditors Fees in advance Fee deposits Taxation & social security costs Oiher creditc Accruals 5.196 13 Advan¢e fee payment Consoiidaied 2023 £'ooo 1,631 (1.631) 1.838 1.838 School 2023 £'ooo 1.460 {1.4601 1.648 1.648 2022 £'ooo 1.485 (1.485) 1.631 1.631 2022 L'ooo 1.358 {1,3581 1.460 1,460 At I Septernber Released in year Ca$h r¢¢¢lved In advance A¢ 31 August Page 30
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 14 Pension Schemes Consolhlated 2023 2022 £'ooo £'ooo 98 111 24 23 (23) 1231 15 School 2023 £'ooo 98 24 2012 £'ooo 111 23 (23) 113} 98 At 1 Septemb Paid durin8 the yeir Decrease In prov[¥ Re-valuation At 31 Au8U5t (381 84 98 1S Restricted FvThds 1 Sept 2022 Incom ing Outgoing £'ooo £'ooo £'ooo 50 31 Aug 2023 'ooo 52 Movemenr in year Transfer £'ooo rsarie5 Fund Srudenr En¢hM Fund Capital FL4nd Prtze Fund Oonation5 101 104 139 298 139 303 PriTr fvnds reweseni donation5 re£eived a significant where the dOr specffied (hat Ihe Income ds io lund a pri7e. 16 Designated Funds 1 Sept 2022 Incom ing Ourgoing 'ooo £'ooo 'ooo 38 31 Aug 2023 £'ooo 38 Transfer 'ooo Development Fund Development fund is ¢0 make pr¢y•l$loD f¢r th¢ devd0pml of the xhool estates. 17 Anatysls of net 355ets between funds Restrirted re$trlct¢d Funds Fu Trds £'ooo £'ooo Toral FndS £'ooo Consolidated funds at 31 Auxust 2023 are represented by= T*Thgible Axed Assers Net current assetsllliabilities) Credirors due after more than rne year Provlslon for liabilities 30.253 (1.6161 {421 (841 28,511 30.253 (1,313) (421 303 303 28,814 Sthool fu nds at 31 August 2023 are represented by: Tangible Fixed Assets Nec Currenc a5setslOiabilitie5) Creditor5 due after more than I¢ year Provlslon for Ilablllrle$ 30,253 11.626 (42) (84) 28,501 30,253 11,323) (42} 184} 28,804 303 303 Page31
ST HELEN% SCHOOL NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 18 Capltal com rnltrnencs The school has £1.783.000 (pbJs VAT) <rf capifèl c1wMTS for the year ended 31 Auxusr 202312022 - £80.000). 19 Taxaiion No liabllicy to United Klngdrn (axall arfses by vlrtue cl the charitable status of rhe School. Profits arlslng In St. Helen¥ Enterprise5 bmited are gifted co the SchooL 20 PeNslon Schemes The Sehopl ¢¥era¢e5 penslon sch¥nes cover the MailOf rr5 unployee5. The assets ofrhe schemes are held 5eparatety from those of th¢ kh¢)ol. b¢lng Invesred with either the state or 1Tr5uraThce companle5. are Independehtty adr15ered. (Il ThE pens1 charye rhe year includes £tributIC•S payabk co the TPS rA £1.602.882 P022-. £1.525.42SI nd at the Year £190,138 Q022: £199.7951 was a¢¢nJ¢d in rw?ert of contributioThs to this sthe The TPS is an unfunded rwlt1-pbYer ddned benefirs ptyision s¢heme g¢wttned by The Teacher5, Pensions Regulau¢)ns 2010 las amended) and The Teachers. Pslon Scherne Regulations 2014 las amended). Members contribute on 3.pay a5 you go. basis wth tdmiribuElons frcttn members and the employer being crediced to rhe Exchequer. Reriremeni and other PeTh9c benefirs are paid by public knnds pffjded by Parliarwit. The employtr contrlbution rate is set by the Secretary d State follwrbg KhemÈ [10nS undert&ken by the Government Actutrls Oepartnni.Th¢ nKJsr recenr acruarialvaluation ofthe TPSVRS prep3r¢d a$ at 31 March 2020. The Valuation RewL w7s pub&shed In Octcèer 2023. Fdlo%4ing the kad judgrnent. the remedy prop¢)xd rh•T IeTh benefits become payable. eligible nwnber$ taTh elect to rxeive ihem fr( eirher the reknmed or leEacy scher1 br th¢ pthod 1 April 2015 to 31 March 2021. The actuaries have assumtd that members are likdy to choose che Opti that provides them [h the greacer benefit5. and in preparing Ihe 2020¥aat1 havevalued the'greater value. benefits forgroups of relaTht memb The valuation tonfirmed that theenwlw contribution rate fw the TPS VDukl tnctrEase from 23.6% to 2B.6% trom 1 April 2024. Empbyers are a150 required to pay a scheff* administration levy of 0.08% S18 a tor employer contribution rate of 28.68%. Ib) For rson-teachingstaff.the school cperates adefined ¢ontriburion schemi The pensioThcost charKe in respect ol that scheme imounied to £37S.780 P022.. £337,2CQ). Included in creditor5 are contrlbutions payable to the scheme arnounting to £45.957 (2022= £34.955}- The School paid £23.762 Q022.. £22.509) to pehsioners tho are members of the unfijnded pen510n. Page 32
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2023 21 Comparatlve notes to che flnartcial 5t3tements 21.1 Statement of Financial Activities Restricte restricted Total 2022 £'ooo 2022 L'ooo 2022 £'ooo Notes Income from Charitable activlties Fee5 Receivable Anclllary & In¢ome 19.865 253 19,86S 253 Other trading *¢rr¥ities Non-Anclllary Tradlng lThcoft 992 992 Inve5trn ents Bank and othex Inve5rnrnts Voluntary Sources Donal1f$ Government Grants Tocal Ineorn in8 resource5 ExpeThditure on.. Raising fund$ Non4ncillary trading 130 130 130 21.117 21,247 324 324 324 324 Charitable ac¢ivlties Edu¢acion 19,509 19509 Total expendlture 19,833 19,833 Net income 130 1.284 1.414 Gain cfi unlunded pension 13 Net movement in ffijnds for the year 130 1,297 1.427 Transfer of fijnds Toral funds brujght frnrd 25,065 25.233 Total funds carried forward 17 298 26.362 26.660 Page 33
ST HELENS SCHOO NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 3 I AUGUST 2023 21.2 Restricted Funds 1 Sept 2011 31 Aug 2022 £'ooo 50 Incoming Outgoing £'ooo TraTh$fer 'ooo rsaries Fund Student Enrichtrt Fund Capital Fund Prize Fund Donatlons 33 17 101 29 168 110 130 139 198 Prize fvnds represent donation5 received over a gnth¢4rt1 wiod 4¥there the donor 5pe¢ified that the income ds to Jnd a prize. 21.3 Deslgn&ted Funds 1 Sept 2021 £'ooo 38 31 Avg 2022 'ooo 38 Incornlng Ourgolng £0 'ooo Transfer 'ooo Development Fund Dev¢lopment fund Is to rnake provision for the deveh)prrt of the schod Èstates. 21.4 Anatysls of net assets betw¢eh fu nds Re5tricred Funds restricted Funds 'ooo Toral Fund5 Consolid*red funds at 31 August 2022 are represenied by.. Tanglble Fixed Assets Net current assetsl{liabilitiesl Creditor5 due after mcffe than cffie year ProvTrsion for liabilities 'ooo 30.451 (3.9491 142) (981 26.362 30.451 13.651) 1421 (981 26.660 298 298 School funds at 31 Au8USt 2022 arè represented by-. TaThgibk h")¢ed Assets Net current assetslOYabiliti¢s} Creditors due after rTKYe than one year Prtr•I51 ltsbllities 30.448 13,9531 421 81 26.355 30.448 (3.6551 (42) (9B) 26,653 298 298 22. Related Party TraThsacrlons All Governors are required to tonylete an annual return recording organi5ation5 wrh vthlch they are invofved and vthere there could b¢ poreniiai conflicts of Interest. All such transart5 are ar arni's length and on standard cornmerclal term$. One Governor has a daughter at the school cffi full fees (Wrth¢wt any rern15slonl Page 34