Company No. 00420867 Re&stered in Enand Charity N'o. 312762 ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 •ADZT0Yvi* 0510412025 COMPANIES HOUSE
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ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 Contents Page Governor& Officers and Advisers Annual Report of the Governors Governor5, Report Strdte&c Report IndependÈnt Audieor's Report 20 Consolldared Statement of Flnancial Activities 23 Consolidaced Bilance Sheet 24 Sehool Balance Sheet 25 Consolldated Starement of Cash Flows 26 Notes to th¢ Financial StaEem¢nLs 27
ST HELEN'S SCHOOU NORTHWOOD GOVERNORS. OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2024 GOVERNORS. DIRECTORS AND CHARITf TRUSTEES The Governors of St Helen's School. Northwood {"the School") are the School's charity trustees under charlty law and the direttors of the charitable company. The members of the Governing Body who served in office as Governors during the year and subsequently are detailed below. (1) (2) Mr P Young (Chair) Mr N Boghani (Wice Chair) s P Mongia (Vice Chair) Mrs M Bhandarl ppointed 22 September 2022 ppointed 2 December 2014 pointed 5 December 2011 pointed 30 September 2014 ppointed 18 November 2022 ppointed 23 September 2022 ppointed 12 July 2023 ppointed 7 August 2023 ppolnted 12 July 2023 ppointed 24 October 2022 ppolnted 1 July 2024 ppointed 3 June 2024 eslgned 11 January 2024 Resigned 12 January 2024 Ms S Davis s A Espley rDFrk Mr B Tumer r C Wauon s Z Janmohamed rs R Thakar r D Tidmarsh rvsaprn r R Street ( l) Finance and Operarions Commlttee (2) Education Committee During the year the attivities of the Governing Body were carried out through two tommittees in addi¢ion to termly Full Council meetin85. The membership of these cornmittees IS 5hovm above for each Governor. Page I
ST HELEN'S SCHOOL, NORTHWOOD GOVERNORS, OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2024 OFFICERS Head Mrs. Tracey Pollard (resigned 31- Augusc 2024) Mrs. Bridget Ward {appointed 1rt September 2024) Mrs. Amanda Adarnis Clerk to the Governors: Registered company number: Registered charity number: Prlncipal and Regirtered Office address: 00420867 312762 St Helen's School Eastbury Road Northwood Middlesex HA6 3AS Bankers: Barclays Bank plc 54 High Street Rui$llp Middlesex HA4 7AT Auditor Haysmac LLP 10 Queen Screet Place London EC4R 1AG Solicitors: Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS14QA Website VVlthl.5thelens.london
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 The members of the St Helen's School, Northwood Governing Council present their Annuai Reporr for the year ended 31 August 2024 under the Charities Aa 2011. the Charities SORP and the Companies Act 2006. rhus including the Directors. Repon and StralC Reporr under the Companies Act 2006, together with the audited financial statements for the year. The consolidated financial statements include the financial st2tements of Sc Helen's School. Northwood and Irs subsidiary company. St Helen's Enterprises knmlted. .GOVERNORS> REPORT CONSTITUTION AND OBJECTS Sc Helen's School was founded In 1899 and Is regixèred wlth the Charicy Commission under charfty number 312762. The School's Governors, executive officers, address and professional advisers are as listed on page 1. The school is a company limited by guarantee and 15 govemed by its memorJndum and arclcles of aSSOCia¢i¢n dated 4 October 1946 as amended by special resolutions PSed on 26 March 1996. 22 March 2(M)4 and 30 June 2015. Charitable Objerts The charlty's objects as set out in its memorandum of association are to: advance education in particular by (but not limSted to) carryin8 on at Northwood In the Counry of Middlesex and elsewhere as may from time ro time by the Chariry be thou8ht flE a day andlor boarding school or college, or schools or colleges: and advance rellgion through the proylsion for worship ind Insrrurtion In the Chrlstian tradition ind with respett for all faiths. religion5 and religiou5 diversity. AIMS. OBJECTIVES AND ACTIVITIES Our students are intellecwally curious and eager to explore how they can best interdct wlth the world around them. making a positive difference in their own unique way. They will be prepared for whatever the tUre hold5. Our zir15 will: Be excited abouc leamin& constantly asking hY,. Be independenL adventurous, and resilienL Become the problem-solvers and trdilblazers of tomorrow. Be guided by integrity and strong moral principles. Celebrate diversity. Sh¢)w compassion towards themselves and others. Page 3
ST HELEN'S SCHOOL. NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 Our aims are: To provide every sirl with the opporwnicy and resources to achieve 2cAdemlc excellence. To equip our student5 viith the Person skills. emotion resilience. and confidence needed to reach their full potential through a diverse, enrichin& and challenging co<urricular program. To know. value, and re5pert each girl a5 an individual, supporring her journey through the school. To ensure our girfs are ready to play a full and active role in their communities and an intertonne¢red diy'tai world, Chardrter Attributes: Resilience. InteCY. Cout7ge. Kindness Leaning Habi Pursuic of knowledge. Problem solvin& Creaovrty, Metac01on. Oblectlve5 for the Year The maln objectlves for the ye¥ were to: Continue to provide a high level of eduation and maintain a high level of achievement throughout the school rhrough the ongoing enhancernenr of staff professional development and leadership qualities. Further develop the excepuonal pastoral care provided to &rls at the school. Continue EO invest in the school's existing facilitie5 through stable fee income and prudent managemenc of projecced surpluses. The provlslon cf burstries co offer opportuni¢ies for &rls who. wlthout some flnanclal assisrance. ml8ht not be able to take up a place at SL Helen's. Develop links wlth local stace primiry Schools to promote School's bursary progrnmme. GOVERNANCE AND MANAGEMENT Governing Body The charicy 15 run by its trustee5. who constitute the School's Coun¢ll of Governor5 and are the directors for the purposes of eompany law. Council is self-appoin¢in8 and may from time to time invire universities (and other furrher education bodie5) or profe55i0nal bodie5 to nominate a Governor. Council may consist of between five and twenry member5. Service on Council is for a cerni of three years and reciring governors can be re-elecled a maximum of 3 times after an initial term of 3 years. to serve up to 12 years in totai. Council rakes its governance responsibilities Seriously and, as a large charity, aims to have a governance framework that Is fit for purpose. compliant and efficienL The Council has established a solid foundatlon in governance in which all trustees are clear about their roles and legai responsibilityes. are committed to 5upporring St Helen's to delNer its objects m05c effectively for the benefit of its beneficiaries and contribute to the school'5 conrinued irnprovemenc.
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 ernll. the School's Council of C.overnors meets nearly all of the recommended and best practice for governance contained within the Charity Governance Code (published July 2017) across the Code's 7 principles and is comforuble there are no significant areas of review required. Arrnngements will continue to be monitored againx the best prattice principles contained within the Code. Recruitment and trainlng of Governors Governors are appointed a5 vacancies arise. New members of the Council of Governors are eletted based on nominations from che Governors and the executive officers and on the candidates, professional qualities, experiencei personal competence and aTrrdilability. Candidates are interviewed and the suitability of candidates is discussed by Council before candidates are invited to join Council. The genernl policy is that New Governors are inducted into the workings of the school. including Council policy and procedures. a¢ an induttion sessron specially organised for them. The new Governors are also invited to attend speclali5c external courses on the role and responsibilities of charlty tru5tee5 and in S¢hool training e.8Tr1 child proeertion and safeguarding delivered by the Designated Safeguardin8 Lead. A5 required. Governors attend external trustee tralning and information courses designed to keep them infomed and updated on current issues in the sector regulatory requirements. Organlsational management The School Governors. as trustees of the charity and directors of the company, are responsible for the overall managernent and control of che school. Full Council meecs formally at least once a rerm. Committees are staffed by appropriate governor5. wich rer4rd to experience. expertise and interest. The Governors meet to review the strategy and performance of che school and to sec opeTrting plans and budgets. The work of Implementlng thelr policies Is carried out by two Committees: The Finance and Estates Committee, renamed the Finance and Operations Committee, scrutinises reyenue, budge4 capital expenditure, HR and progress ardinrt the Estates Masterplan. building projects and maintenance. This Comrnictee a150 supervises and finalises the audt¢ed financFal statements and annual report for apprordl by the Council of Governors. The Committee is chaired by Nadeem 8oghani and meets at least once each term. The Education Committee considers educational and pastorxl policy, co-curricular opportunities and the role of IT in education. The Committee is chaired by Ben Turner and meets once each term. The Committees, decislons are ratified to the extent required by the full Councll of Governors. The day ro day running of the School is delegated to che Head, Interim Direccor of Finance. Interirn Director of Operatlon. and Senior Leadership Team. The Head and Interim Directors attend all meetings of Council and its CornmitEees. A new Head was appointed ID September 2024 and an Interim Finance Director and Interim Direccor of Operations took up office in Occober 2024. Employee Remuneration The Council of Governor5 sets the remuneration policy for the Head wl£h the objective of recruiting, rewardin8 and retaining # high-qualiry individual who is appropriarely incentivised to contribute to the success of the school. The key management personnel in the School are che Senior Leadership Team which. apart frorn the Head and the Interim Finance Director, consists of the Deputy Head Academi4 Deputy Head
ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 Pastoral, Deputy Head Co-curricular & Partnersh.ips, Assistant Head 6 Form and Pupil Progress. Acting Assistant Head Pastoral and Director of Operauons. Remuneration is reviewed annually and considers generdl economic fattors and comparisons with peergroup independent schools through consultant surveys to ensure that the School remains cornpetitive. Group Structure and Relationships The charity has a wholly owned non-charitable subsidiary. St Helen's Enterprise Limited. whose activities and frading performance are discussed below. The Sehool is a member of the Association of Governing Bodies of Independent Schools (AGBIS). the Independent Schools. Council (ISC). the Glrls. Schools Association (GSA). the Independent AssociaElon of Prep Schools (IAPS) and the Independent Schools. Bursars, Association (ISBA). The School networks widely with ocher schools to promote high quality learning and to learn from others. experiences. Envlronmental and Employee Matters The School is mlndful of its environmenral responsibilities ind strives for irnprovement. Pupils and staff are encouraged to use and recycle all types of resource carefully to conserve physical resources and ener8y. The significant capital investment in the School Site over che past S years has ill been planned wlth environrnenul considerations at the heart of any new bulldin85. including living green roofs, solar arrays. water attenuation systems and enery efficient mechanical and elettrical installations. The Sc001,$ commitment to the environment is recognised by the award of the Green Flag by the Eco-schools or8anot10n. the award of the London Borough of Hillln¥don's Travel Plan "STARS" accredi¢a¢ion (Gold level) and by the award of Fairtrade School status. St Helen's comprehensive health and fAfecy poSicles and provides a safe and healthy environment for irs pupils and employees. St Helen's 5$ committed to equal opportunities for all pupils and staff. Every effort is made to aeeommodate pupils or staff with disabiliti¢s and to ensure that staff parcicipace in all career opportunities available. Full and fair considerntion is given to job applications from disabled persons and due consideration is given to their training and employment needs. Consultation with employees. or theSr representatlves, has contlnued at all levels véith the aim of taking che views of ernployees inco accounr when decisions are made that are likely to affect their interests. Employees are encouraged to participate in che life of the School and are kept fully informed of events. Staff meetings take place weekly during term and staff are consulted on material matters where appropriare. Employees are made avftre of the financial and economic performance of the School. Page 6
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 STATEMENT OF GOVERNORSI RESPONSIBILITIES The Governors, as Directors of St Helen's School. Northwood for the purposes of company law, are responsible for preparing the Annual Report and rhe financial statements in accordance with applicable law and regulations. Company law requires the Governors to prepare financial scacements for each financial year which give a crue and fair view of the 5rate of affairs of the charitable company and the group #nd of the incoming resources and application of resources, including the income and expenditure, of the charitable youp for that period. In preparing these financial statements, the Governors are required to: selecr suitable accounting policies and rhen apply them consistently; observe the methods and principles in the charities Statement of Recommended Practice (SORP): make judgments and estimaces chat are reasonable and prudenG stace whether applicable accounting scandards have been followed. subject eo any material deparrures dlsclosed and explalned ift the financial statements.. prepare the financial statements on the going concern basi$ unless it is inappropriate to presume that the charity wlll contlnue to operate. The Governors are responsible for keeping adequate accounting records that are sufficient to show and explaln the charitable company's trdnsactions. disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that che financial statements comply with che Companies Act 2006 and the provisions of the Chariws constitution. They are also responsible for safeguarding the assets of the Charity and the group and hence for taklng renable steps for the prevention and detectlon of frdud and ocher irregulthties. So far as each of the Governors at the date of this report is aware, there is no relevanr audlt information of which the charlrable company'5 auditor is unaware. Each Governor ha5 taken all the steps that helshe ought to have taken as a trustee in order to make himselflherself aware of any relevant audit information and to establish thit the chariEable compiny'5 auditor is aware of Ehat infornlation. Page 7
ST HELEN'S SCHOOL NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 STRATEGIC REPORT MISSION STATEMENT To provide an innovative 21M Century Education where girls thrive and succeed. St Helen's believes in Gir15 and Glrls. Education. The School does not belleve In glass ceilin8$. $tereorypes or prescripcive pathways. St Helen's does not strive for perfection. but instead embrnce5 and encourages failure as a powerful tool for learning and personal growth. Strategic Plan St Helen's seeks to provide an innovative education that empowers its gir15 to thrive and Succeed in the 21st Century. Th¢ School is immensely proud of ICS Students, achieyemencs in public examinations, but for it education is about so much more. We are committed ro developing young women who are kind. intellectually curious and guided by integriry and strong moral principles. Our girls are problem-solvers, creative thlnkers. team- players and leaders- they are equlpped with the skills whirh will enable them co make thelr mark In a rapldly chan8in8 world. We know how important it is tha¥ children have the space to thinl the support co learn from mistakes and the freedom to have fun, and we seek to provide that space at St Helen's. We also know chat Ifwe wrdnt to see change. we must drive it. In 1899, May Rowland Brown founded St Helen's School wich the foresight of educating girls. through a holistic and challenging programme. 125 years later. we reflect on what came before. but we a150 look ahead. We understand that whilst we are custodian5 of the much-loved craditions of thi5 community, It 15 our responsibility to drive che School foThvard so that it continues to offer modern, creative and intellectually excitlng curriculum which prepares our puplls to play a full and artive pirr in cheir communities and in an interconnecred digital and global society. We are proud Vhnd committed to single sex education. We do not follow srereotypes or pre5criptlve pathways. At St Helen's. there 15 no such thlng as boys. subjects and glrls. subjects, boys. sports and 8lrls' sports, or male careers ar*d female careers. There are simply subjects, spor¢s. and careers, and our girls are supporred in pursuing whichever pathway their personal interests, passions, aspirations and talent5 lead them toward5. We know that girls often have perfectionist tendencies; this pressure for perfection is ubiquitous and unrelenting. In education, it can resulr in &rls playing it safe,. being high achieving but passive learners who avoid risk. swerve creativiry, and curtail ambition. At St Helen's we foster a mindse¢ that focuse5 on the effon rather than the ouccorne. we embrace and encourage failure as a powerful rool for learning and personal grovrth. We know how important it is for girls co have tne space to think, the support to learn from misrakes and the freedom to have fun, and we seek to provide that space at St Helen's. A successful and happy school depends on all of us working togecher. One School. One Staff. One Purpose.
ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 ACHIEVEMENTS AND PERFORMANCE The 2024 GCSE 5urnmer results were largely In line with 2023's results and close to 2019 pre-covid benchmark: 35% of all grddes awarded were grade 9s 60% of all students achieved grade5 9-8 82% of grddes avlarded 9-7 96% of grdde avrfarded 9_6 A level results The A Level resuks for 2024 have returned co above pre-pandemic results of 2019: 83% of the cohort achieved A .8 grades 53% of all this yeor's zrndes are A and A grades 315tudent5 achieved A* and As across all thelr subjects Higher Education and Careers 68% of the 2024 Year 13 cohort secured places at thelr first cholce unlverslcy. STEM and Medical subjects Yre still the subject group with the most applications (40%) with Languages dwindling from 4% to1%. There Nfds a distinct Increase In studerits applyins for subjects with•n th.e Social Sciences with nine students wishing to study Law. Five students applied for Busines51ManagementlFinancelAccounting which is the highest number we have seen. The range of courses was stlll broad and inpluded: • Art Foundation (King's Foundation) • Data Science and Artificial Intelllgence (Bournemouth) Economics, Finance and Dara Science (Imperial) Engineering Degree Apprenriceship (Proccor & Gamble) Fllm and Television Producrron (fork) Information in Society (UCL) Italian and Classics (Warwck) Philosophy, Reli&on and Ethic5 {Sheffi¢ld) Psychology with Innovation (Bristol) Sociology and Global Sustainable Development (Warwick) Sustainability and Environmental Management (Leeds) 8 students were interviewed aE Cambridge, and 6 at Oxford. In January 2024, 3 offers were made by Cambridge fi)r the followlng courses: Chemical Engineering and 8iotechnology . Geogrdphy Medicine Page 9
ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 61 % of those who applied to Oxbrfdse gained intervievts which is very good in a difficult admissions climate. The addition of the Oxbridge Symposium for current Year 13s fin June 2024 whilst they were in Year 12) supported students with their wider engagement and gave them the opportunity to collabordte vath like- minded peers from other schools. Co-curricular Se Helen's School offers a rnnge of Co_curricular opportunlties for our $tudents across the vthol¢ school. In the Senior Sehool. we aim EO give our students opporcunltles to perform in concerts and productions. to repre$en¢ the School in competttive sporc, to exrend their experiences and broaden thelr horizons, or simply to try out a new attivicy or to lead their ovm club or society. 'Our Co-curricular Provision therefvre oims to enrich and enhance the lives. personal development and wellbeing of every girl. igniting new and existing passions as well as hidden talents,, Key Stage 3 Co-curricular Programme Our Middle School Co-curricular Award was inaugurated in February 2023 and is launched each February to Year 7 students. The avr4rd a1rn5 to reco8nlse achievement and ccmmitmenc in key areas of school Ilfe outside of the classroom. The four categorles (Physical, Skill, Academic and Culture) are completed either inside or outside of school. Successful completion of the Award leads to certificates bein8 presented at assemblies or on Prize Day depending on the level achieved in each category. The Award can be completed at any poinE between the February of Year 7 and the end of Year 9. Key Stage 4 Co-currlcular Programme As pan of our commltment to ensure that Co-curricular clubs and societies are equally a5 important as the academic and pastOf41 life of the School. every student In Yeor 9 opts, alongside their academic options for GCSE. to commit to one of four Co-curricular opcions for at least one academic year: Combined Cadet Force (CCF) with Merchant Taylors. School (MTS) - Arry. Navy & RAF Secclons Duke Of Edinburgh's Avard Scheme (DofE) Fabulous Food Club (FFC) Red Cr0$5 for Youth Presentations are made In Year 9 introduclng each of the Year 10 Co-curricular options. and students are asked to apply for the activity which they wish to join in Year 10. Page 10
ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 The alm of the CCF with MTS is to help our students co develop leader¥hip and teamwork skills by means of training to promote the qualities of responsibiliry, self-reliance, resourcefulness. endurdnce and perseverdnce and a sense of seryice to the community. Cadets from both our School and MTS are afft?rded the opportunity to take part in many artivities throughout the year such 45 fieldcrdt shootin8 or flying. Tri-service opportunities include par¢icipatiDg in national military parndes, and adventurous tTrining Such as parachuting and whitewater rafting. Duke of Edinbur8h'5 Award Scheme beglns in Year 10 and scudents can progress all the vfty to the Gold Award In Year 12 and 13. St Helen's School is v¢ry proud to be a Directly kncen5ed Centre for the Duke of Edinburgh'5 Avrdrd Scheme, and a significant number of our own staff are involved in weewy trnining. as Y11 as supervising and assessing the expeditions for our student5. Our Fabulous Food Club (FFC) encourages pupils to develop life-long skills such as food preparaticn. budgeting. knowledge around nutrition and health, and to develop network$ with the wider eommuniry. Studenrs use the School Dining Room and kitchen learning how food brings communities and groups together and creatts a cultural identlty, alongside developing chelr prnctical skills ro prepare dellcious dishes. The FFC contributes co severdl whole School events throughout the academic year. such as our annual Open Day and their year culminaces in an annual summer Afcernoon Tea Parcy. The Red Cross lor Youth Group allovts students to get involved in :he yrk of the Brltish Red Cross throu8h 5UPPOrting the orrdnisation's aims and objectives. arrnnging our own events and activit•es. and becoming an official Fled Cross Volunceer. The group is run In conjunctlon with the "Red Cross on Campus" Youth Volunteering pro8rnmme. Students develop teamwork, evenc minagemen4 and leadershlp skills at the same (ime as making positive difference to the world and actively en8agin8 with global issues. Key Stage 5 Co-curricular Programme In the Sixth Form. our s¢ud¢nts continue to enloy a rich and diverse Co-curriculum to complement thelr academic studles. A unique and integrnl aspecr of rhis Co-curriculum bs the Year 12 volunteering scheme with local primary schools (see che partnership. outreach and public beneft activities for greater derail). Students also have the opportunity to remain in the CCF wlth nearly all our senior student cadet5 recelvlng promooons and leading sections both on a Friday and during the annual Inspection Day. Additionally. Sc Helen's has i lonstanding association with Young Enterprlse. and w¢ have at leasc EWO companies set up and run by Sixth Forni student5 each year. Studenrs also can apply for and interview co be a part of our PHAB ream. The PHAB charity is an ornIsation which aims co make a real difference to the lives of disabled and non-di5abled people of all ages. Lasr summer, 8 of our Year 12 and 8 of our Year 13 pupils participated in an activity residential week in Avon Tyrrell in Hampshire where they were a tremendous credit to our School. Scudents in the Sixth Form often run their own clubs and societies in collabornrion wlth their teachers. Last academic year. a highlighc was the student rnn South Asian Society vhich 5ucce55fully ran a "Desi Disco" evening for all of Year 12 and 13: the students carried ouc all of the planning themselves. includin8 meeting Page 11
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 with the Business Director for budgering advice and meeting with the Risk and Compliance Manager when putting together a robust Risk Assessment for the event. This year, a new highlight has been the inauguration of the "Mock Trial" society. again led by Sixth Fom students. House System in Senlor School The House System in Senior School is a vertical system which provides opportunities for our students to discover interests to complement their academic achievements and to meet and Interatt wirh students older and younger than themselve5. Ic provide5 a comrnunicy where scudents work rogether and support each other as well as offering opportunitles for healthy competition within a supportive atmosphere. It is also an effectlve way of encourtging new students to feel at home. Our Houses Coordinator Is currently worklng to strengthen even further our "House Families" iniciats¥e which launched last academic year. Compe¢ltion betvrten the House5 takes place in Yar6ou$ forms: commendations which are w'ven in Years 7-11 go t¢)wards an overnll House poinr score for each term. House Arrs Day takes place at the Yery end of the summer term when each House presents a performance to che whole School and an ouuide dludicator (often one of our alumnae) declares the overnll wlnner. Sport is another are where the Houses campete and there ire House Competitions in a range of sports throughout the year. This aspect of che House System culminzces in Sports Day at the end of the Summer Term. As well competition betVen che Houses. the four Houses fundraise throughout the year for each of the House charities. The Head$ of Houses actively engage In fundralsing at the Chrlsrrnas Fairlcalendar Sale at the end of the Autumn Term and In House Charities Week in the Sprlng Term. Drama Performances Drama is a real strength at St Helen's School. There are numerous opportunities for our students to perform on stage and, in addition. we have very strong links with the Drama Department at Merchant Taylors, School (MTS). Siudents from both St Helen's and MTS benefit from our very close joint vlorking relationship. During the Autumn Term, MTS and St Helen'5 School partner for two major drdma productions. The Joint Musical is alway5 a highlight in the school calendar with lasi year's The Addams Famity being a trernendous success, hosted at St Helen's School. This year's produc¢ion. West Side Story, held in November 2024 at MTS v4as also a huge succe55. The students from both schools also pir¢icipate in our annual Joint Senior Play- this year we are hosting Federico Garcia Lorca'$ 81ood Wedding followln8 last year's very successful production of Enmn. hosted at MTS. As 17 as these centre piece events. we host several smaller. but equally impor¢anL events throughout the year such as the Middle School Play (aimed ar Year 8 and 9 pupils) the Year 7 Drama Sh¢)wcase evening. There are also always very impressive perfomiances each year from our GCSE and A LevEI students. with the Year 11 and Year 13 Drdma Devising Showcase evenin8 being parcicularly impressive. Page 12
ST HELEN'S SCHOOL. NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 Trips and Visits The 2023-2024 academic year presented a selection of educational trips and visits for students rdnging from domestic day trlp5 to Immerslve oRr5ea5 experlence5. These trips and visits were designed to enhance learning beyond the classroom, provide cultural exposure. and co foxer personal growth. In total, there we 105 trips durin8 the year. overse0ReSIdentIOl trips Netball weekend pre-season trip in September October half term trips to France and Spain. December ski trip to Au5cri3. Music tour to Lake Garda in July. Year 4. 5 and 6 residential trips. Day trips Sports trips - England Llonesses, All England badminron Chimpion$hlps and Pro League Hockey Theatre trips Activlty Day trlps to Thorpe Park. Horsenden Hlll. Kew Gardens Pantomime trips for Year5 1-6 Historical trips - Battlefields Conferences - MathslChernistrylPolitlcslPhyslcs Communiry and Outreach trips CCF trips The learning outcomes of rhe excensive trip programme in 2023124 enhanced student appreciation for local hiscoryp culture and the arts. The trlps also developed teamwork, empathy and soclal skills and pve the studenrs the opporcunities to make memories for lrfe. Fixtures The 2023-24 PE fixtures programme offered studenu from Year$ 4.13 a wldo rdnge of developmental opportunities across districL regional and nauonal levels. The fixture5 were designed co promore physical fitness, teamwork, competition and school pride, vthile providing struttured pathways for ialented students to progress co higher levels of competition. In total. there wer¢ over 200 fixtures ranging across several sports includlng netball. swimming, gyMnriC5, dminton. football. athletiC5, lacrosse and hockey. The district competitions were entered to allow for greater partlcipation and Vre aimed at fostering talent and building foundation skills. The regional competitions We entered for the individuals who excelled ac districc level and allowed for broader competition and exposure beyond the school's immediate localiry. The national competitions allowed for the elite level studentslteams to compere on the national stage and compete against top level performers. Page 13
ST HELEN'S SCHOOL. NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 Equality, diversity and inclusion (-EDI") Autumn 2023 Black Hi5rory Month was celebra¢ed by a senior School assembly on black women artisrs. A post-colonial study day in 2024 for Year 12 was also orpnised. During the Spring Term 2024 the EDI committee focused on Children's Mental Health Week (part of the 'lnclusion' strand). There vrts a150 4 very successful Culturdl Diversity Day. with high levels of student engagement. Various talks and visits in the Prep School included.. the Parn-olympians visit {SU1). Prep- Electric Umbrella Day in school (SU2). There is also a mlling progrdmme of'Diverse Reads. posters around Senior School. There wa5 an excellent Senior School assembly delivered by a Year 10 student on Neurodiversity to mark Nacional Autism Acceptance and a Pride Picnic, led by our LGBTQ+ champlons as V11 as the ACS relaunch wlth an Afro-cirlbbean drumming session in June 2024 Partnership? Outreach and public benefit artivities In September 2021 St Helen's launched a piloc scheme aimed at strengthening links and fi)stering new relationships between St Helen's and our local state primary schools. The pilot was a tremendous 5ucces& and are now embarking on our third a¢ademlc year of this outreach and partnership prozramme. Each Thursday, all Year 12 pupils volunteer in one of our eleven partner sta¢e primary schools deliverlng several different activities rnnging from Music to Sport and Sclence experiments to Modern Foreign Language$ {" MFL") tasters. Our studenrs are glven overdll responsibility ior creating the content of their 5e5sion (in collaborntion with our teachers) and for delivering it to the primary children. The primary Headceachers haye ommented tha¢ behaviour In their schoo15 is often becter on a Thursday as their children do not wftnt to miss out on their session with St Helen's studentr. The primary Headteachers frequentty speak of the pleasure thac they have in hosting our students and that chey are making a positive impact on the live5 of their lives. Our students frequently comment on their outreach and volunteering experiences in their UCAS personal sratements and CVS. Furthermore. these experiences can often be a stepping stone for later volunteering opportunltles. We also h05t severdl outreach and partnership ictivities on site for local state primary children throughout the summer term. Last year. local children enjoyed an Arc and DT Day, a Sports Science and Animal Behaviours Day, che always highly anticipated "St Helen's Crime Scene Inves¢igators ("CSI") Day" a Microscopes Day and the MFL themed day. Ic Is always a loy co see the enjoyment and engagement of the younger children working with our studenrs and Staff using our facilities. We continue to work collaboratively with our local community. Our Year 13 pupi15 work in collaboration with their counterparts from Northwood College on a project relating to pollclng wlthln che local area of NOrthV0d and report their findings back ro the committee. This is an excellenr platform on which our students can make a real and positive difference to our local community as the committee 15 made up of local touncillors, the Metropolitan Police and represenratives from our local bodies. Last academic year. we establi$hed i new partnership wlth a local charity- MHA Communities Wert London - based in Norrhwood. a 3-minute walk from the school. This charicy aims to help elderly people in NOrthV0d to "live later life VKII" Our pupils at*tsnd a lunchtime Soup & Sandwiches scheme. twlce a month. where they hive lunch with Northwood residenrs and spend fiTne talking to them. Page 14
ST HELEN'S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 As well as working viith several other local charitie5 across the Prep and Senior Schools it various points in the year (e4. Great Ormond Streer Hospital). we continue to Vrk very closely with PHAB UK. an oryanisaoon which aims to make a real difference to the live5 Of disabled and non4isabled people of all ages. The Spiritual, Moral, Social and Cultural Development of Puplls at St Helen's School We nurture the spiritual. moral. social. and culturdl development of our pupils and attively promote British Values through vinually all parts of the curriculum, through extrd-curricular activities and within the day-co- day operarion of our school, for example, in our behaviours and ethos, including the school wlde pursult of the St Helen's Character Attributes (resilience. integriry. cournge and kindness). Pupils and staff respect everybody's individual traditions and create an acmosphere of harmony. inclusiviry. curiosity. and community. Examples of speclfic initiatlves are Remembrnnce Sunday community events, Cultural Diversity Celebrarlon Days. culwral exchange trips to Spain and Germany. Eco Council. pupil leadership roles. charicy events organised by pupils (such a5 che annual Christmas Pdir). pupil visits to local residential homes for the elderly. and harvest festi] produce sent to local Hillingdon food bank5. Assemblies across the School. be they whole school, phase. section. or year group. address broad social, moral. spiritual, and culturdl issues. They reinforce a Sense of belonging, Common purpose. and vision. and provide cpportunitles for our pupils to be exposed to a wide range of themes such as avrtreness of those less fonunate than ourselves. mental health, body language and cultural and religious prdctices. The contributions the pupi15 thern5elves make co our assemblies. whether devising them. delivering them. playing music. or receiving avrdrds. help them to develop self-confid¢nce and self-esteem. SMSC topics are also regularly explored durlng Clrcle cime, story time, tutor time. Philosophy and Religlous Studies, and PSHCE. Our V11-$tCtured Pastoral system promotes personal grovrth and development. Form Tutors and Class Teachers know their tutees well and as individuals. as do Heads of Year and Phase Leaders. Pupils ire omfortable in seeking support from staff in relation to any concerns about their own behaviour or that of their friends. All pupils in Senior School reflect on cheir own academic and personal development through one-to-one coaching conversations with staff and by undercaking self-assessmenr artivities. Conversations throughout Prep School are also Increaslngly of a coaching type. The PSHCE courses in Prep and Senior Schools allow our pupils to think abouo and as they get older, to take responsibility for, the personal choices they will make and how these will shape their lives. Themes such as democracyi responsible use of sociai media. resllience against rddicalisation. anti4>ullyln8. conflict. and interpersonal relationships are addressed. and discussion 15 encouraged within a safe environment. There are posters displaying the British Value5 in every Senior School form room and in Prep School class."ooms. as 11 as Britlsh Values displays In each of che Prep School buildings. In Senior School. the PSHCE 5e55ion5 incliJde a Citle page to each session that include5 a PowerPoin¢ clearly highlighting the Fundamental British Values and St Helen's Chardcter Attributes relevant to that se55ion. We also trnck the SMSC connections acros$ sessions. While Spiritual and Cultural themes are occasionally explored in PSHCE. most sessions relate to social and moral concerns. In our ought Chardtter Attribute Page 15.
ST HELEN'S SCHOOL. NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 lessons with KS3. we specifically explore ethical questions through a range of activities. scenarios and group work presenotions. Our puplls understand the consequence$ of their behavlour and actions. We have clear policies for behaviour and respond immediarely to any perceived prejudice, discrimination, or intolerance. This helps pupils to develop their own posictve moral values. Their behaviour shows that they can distinguish between right and wrong. Pupils bring a diverse range of issues to School and Food Counci15. and they see how they can create change through these means. For example. Meat Free Mondays vlas an initiative introduced as a direcc response to the work of the Eeo Council. Pupils leave St Helen's prepared for life ahead. cornfortable in thelr own skin. sensltlve co the clrcumstances of others and with a Ilfelong love for learning. They contlnue to grow once they leave. Ind they contribute to the wlder commLFnity both professionally and personally. Pdge 16
ST HELEN'S SCHOOL. NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 FINANCIAL REVIEW Results for the year Pupil numbers remained stable and the School had a successful year financially viith incomrng resources totalling £25.Sm (2023.. £24.1.m) with the majority (94%) 8enerared by school fees and other educational income. St Helen's Enterprises operates under licence from the School #nd it5 activiues include renting the School grounds and buildings as well as activities based in the Sports CompleK Income from the Enterprises wa% expected to be slow to recover following the lifting of Covid restrictions. However, with an increased focus on strnregic direcrion. marketing and rebranding to reflecc the launch of an Events offering in addition to the Sports C¢ntre and venue hire. the School received a contribution from Enterprises of £31 Ok for the year. The year ended with Enterprises generating £1,068,598 (2023 £1070,0Th)) revenue and £305,800 (2023.. £346,(XXI) operating surplus in the year, enabling it to donace £305,81J) to the School under gift aid. The company held £463.982 (2023: £522.Q)O) cash at the year end. The Governors carefully considered the economic circumstances when considerin8 fee increases for che 2023- 24 academic year and balanced this against the School'5 5trate8ic plans ¢0 continue to improve the standard of education offered and the facilities and staff resources necessary and its commitrnenc to bursary and scholarship funding. The Governors agreed that fees should increase by 6% to £23,550 per annum with Prep School fees increasing by 6% to £19,846 per annum from Sepcernber 2024. Following the imposition of VAT from January 2025. the Governors announced che plin to mitigate the full financial Impatt on parents for the 202*25 ac2demi¢ year by utilising surplus funds. In summary, day-to-day expendlture remalned well controlled and the School generated net Incoming resources of £1.8m (2023: £2.1 m). Net Current liabilities srand at £1.99m (2023.. £0.96m) reflecting accrued liabillties. At the year end. the School held no free reserves. Cash generated is invested in the provision of educacionl particularly in Incr¢ed bursary funding. Fixed Assets The direttors are satisfied that there are no indicators of impairment to the market value of the School'$ freehold properties which is substantially more than the book value and hence a professional valuation quan¢ifyln8 the difference Is not required. Fundraising Fundraising at St Helen's is an irnporont part of the operdtion of the khool but remains embryonic. Fundr4isin8 Is usually undertaken by the School's Development Office and affiliated organisations of, primarlly. volunteer groups of parents and alumni. There are no professional fundraising organisations used and so no mon:toring processes required. The School subscribes to the Fundraising Regulator and adheres to the Code of Fundrdisin8 Practice when undertaking fundrnslng actywty. There were no complaincs received by the School in relation to fiJndrJising arrivicy in the past year. The School take5 irs responsibility to anyone who might be vulnerable very seriously and this will continue to be considered in the School's approach to fundraising activlty. Reserves Policy The Governors are committed to a policy of continuin8 to improve the School through building and refurbishment as well as investing in teaching resources. A substantial part of funding for this will be met from the annual surpluses of income over expenditure. As a consequence of the Governors. investment plans for the School's buildings, the School does not currently hold any free reselves. The Governors are avftre of a free reserves deficit and do not consider thar this presents a financial risk to che School in the short to medium terni whilst net incoming resources remain strong. The School currently plans to utilize its operating surpluse$ to mitigate the VAT impact on parents for the 2024-25 academic year Page 17
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 and defer further investment in buildings and facilities will continue to keep fu.ure requiremeftt for reserves under review. The Governors are satisfied that operating cash flows remain strong and will be sufficient to allow the School to meet ics liabiliries as they fall due. However. the Governors also recognise that the levels of reserves will fluctuate in response to economic conditions and during periods of strategic investmene in the School estate. In July 2018. a small finance facility was arranged with the School's bank to accommodace short cerrn cash ITOW requirements during the capical programme and this arrangement continue5. Regular dialogue is malntalned with the School's bank co ensure chat the appropriate finClaI facilities are available Eo call on should che need arise. A¢cordingly. the Governors conslder that the going-concern basis remains appropriato for the preparacion of the School's accounts. RISK MANAGEMENT The Council of Governors Is responslble for the managemenc of risks faced by che School. The Governors reviews and agree the School's formal risk register and consider risks in the following areas: Governance or rnanagemenc risks Business plan implementation risks Operational risks Finanelal risks Excernal and regulacory rlsks. The Governors consider rhe principal risks facing the School to be: Affordability. The Governors are mindful of the pressures on parents regardlng fees. particularly in the current economic climate with the cost-of-livin8 crisis. imposition of 20% VAT. For the 2024-25 academic year. Governors have agreed absorb the VAT Ilabillcy for parents to help minimize loss of pupils FlnancSal Rlsk. The October Budget confirmed che imposi*aon of VAT from January 2025. loss of Charitable Business Rate Relief and increase in Nathonal insurnnce contribution. The Governors are actively developing mit1cIng actions including cost savings. absorbing VAT tg mitigate impact on parents (i.e. co minimise the loss of scudencs) followed by gradual increase of the VAT burden on parents over 3 years Eog¢ther with the provision of a Hardship Fund co help those in need. Failures in Health and Safery. The Governors designate a Governor to monitor the School's Hewlth and Safety arrangements. The designaced Governor attends Ihe School's regular Health and safety Committee meetings and plays an active role in the monitoring of relevant highrisk areas. The School is supported by exrernal consultants who condutt independent annu31 Health and Safery reviews which are scrucinised by che Governors. The Governors are satisfied that all major risks identified are adequacely understood. being assessed and managed across the School and that appropriate mitiDtion measures and controls are implemenced as and when necessary.
ST HELEN'S SCHOOU NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2024 As part of the support sd to rhe Srrategy, the School has developed a 10-year Estates mascerplan followlng on from the completion of Its previous plan which saw che development of the Junior School Building, Mackenxie 6th Form Centre. School of Music and most recently the STEM building. There is also ) plan to address the lack of dining room capaciry and to improve catering facilities in the Gables building. together wlth dedicated changing faellities and a PE office which are poorty provided for across the School. Work on the dedicated changing facllltles and PE Office was completed In the sprlng of 2024. However. the rest of the plan Is now on hold whilx the full burden of VAT on fees is gradualty trnnsferred to parents. The fve-yev 202S-30 strn¢egic visian for St Helen'5 School was released io wents In In FebrLtary 2025. The strntegic vision provldes clarity on che direction of travel for the school. The Governors are commltted zo further developing Ilnks wlth the state sector and local communlty In Ilne with rhe Schools Together programme. The Schcol will be extending i¢5 connecrion5 with local state schools 60th Sn terms of shared educational oblectlves and chrough the furcherance crf our bursary progrnmme into schools who have not prevlously considered the op¢lon of their girls attendin8 St Helen, Thls Annual Repor¢ prepared under the Ch¥ltles Acc 2011 (he Companies Act 2006, VAS Ipproved by the Council of Governors of St Helen's SchooL Northwood in thelr capacity as company directors approving the Direcror5' and Scrdtegic Reports concained therein. and Is stgned as authorised on its behaff by. Philip Young Chair of Councll of Governors Page 19
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST HELEN'S SCHOOL. NORTHWOOD YEAR ENDED 31 AUGUST 2024 Opinion We have audited the financlal statements of St Helen's School. Northwood for the year ended 31 August 2024 which comprise che Consolidated Statement of Financial ActivlEles. the Consolidated and School Balance Sheets. the Consolidaced Statement of Cash Flows and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporring Sondard applicable in the UK and Republlc of Ireland (Unlted Kingdom Generally Accepted Accounting Prntcice). In our opinion. the financial statements: give a true and fdir view of the state of the group's and of the parent charitable company's aff4ir5 as ar 31 August 2024 and of the group's and parÈnt charitable company's net m¢)vemenc in funds. including the income and expenditure. for the year then ended- have been properly prepared in accordance wsth United Kingdom Generally Accepred Accounting Prdrtice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We condutted our audlt in accordance with Internatlonal Scandards on Audlclng (UK) (ISAS {UK)) and pplicable law. Our responsibilities under those srandards are further described in the Audicor's responsibilities for the audit of the financial statements section of our report. We are independent of che group in accordance with the ethical requirements that are relevant to our audit of the financial 5tacements in the UK, including che FRC'S Ethical Standard. and we have fulfilled our other ethical responsibllicies In accordance with these requiremenr5. We believe that the audit evidence we have obcained is sufficient and ppropriaee co provide a basi5 for our opinion. Concluslons relating to going concern In auditing the financial SLltementS1 we have concluded that the trustees, use of the going concern b1$ of accounrlng In Ihe preparation of the financial statements Is appropriate. Based on the work we have performed. we have not Identified any material uncertainties relating to events or conditions thaL individually or collectively, may cast significant doubt on the group's abiliry to continue as going concern for a period of at least twelve months from when the financlal statemencs ire auchorised for i55ue. Our responsibilities and the re5pon5ibilities of the vustees wr¢h respect to going concern are described in the relevant section$ of this report. Other information The trustees are responsible for the other information. The other information comprises the information Included in the Truscees. Reporc. Our opinlon on the financlal statements does not cover the ocher information and. except to the eent otherwise explicitly 5rated in our repo¢ we do not express any form of assurnnce conclusion ch.ereon. 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 information is materially inconsistenc with che financial statemenr5 or our knowledge obtained in the audit or otherwise appears to be materially mis5(ated. If we identify such macerial inconsisrencies or apparent material misstatements, we are required to determine whether chere is a material mlsstatement in the financial statements or a material misstaternent of the other information. If. based on the work we have performed. we conclude that there is a material misst2teme4t of this other Information. we are required to report that fact. We have nothing to reporc in thls re8ard. Page 20
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST HELENgS SCHOOL, NORTHWOOD YEAR ENDED 31 AUGUST 2024 Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit: the Information given in the Trustees. Report (whlch Includes the scrntegic report and the directors. report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements: and the srrategic repor¢ and the directors. report included within the Trusree5' Annual Reporc have been prepared in accordance with applicable legal requiremenrs. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the parent ¢harirable Company and Its environment obtained duringche audiG we have not idenrified material misstatements in the Trustees. Report (which incorporates the strategic report and the directors, report). We have nothln8 to report in respecr of the following matters in relation ¢0 which the Companles Act 2006 requires u5 to report to you if. in our opinion: adequace accounting records have not been kepc by che parenc charitable company; or the p¥ent charitable company financial 5tatemenr5 are nor in agreement with the accounting records and returns: or cerr2in disclosures of trustees. remuneration specified by law are not made: or we have not recelved all the information and explanations we require for our audlL Responsibilities of trustees for the financial statements As explained more fully in the tru5tees' responsibilities statemenc set our on page 7. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being sat15fied that they give a true ind fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due co fraud or error. In preparing che financial statements. the trustees are responsible for sesSIng the group's and che parenc charitable company's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of acccunting unless che trustees either intend to liquidate the group or the parent charltable company or to cease operations, or hive no realistic alternative but to do so. Auditor's responsibilities for the audit ol the financial statements Our objectives are to obuin reasonable assurance about whether the financial stacernents as a whole are free from materlal mSssEatement. whether due to frauo or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bur 15 not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material rnisstatement when it exiKs. Misstatements can arise from frnud or error and are consldered material if, individually or In the a88regate, 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 with our responsibilities. outlined above, ¢0 detecc material misstatemenrs in re5pec¢ of irregularicies. includin8 fraud. The extent ro which our procedures are capable of dececring irregularities, including fraud is detailed below- Based on our under5tandin8 of the charity and the environment In which it operntes. we identified that the principal risks of non-compliance with laws and regulations relaced to the in(iependent school regulation5. safeguarding regulation5, health and 5afery requirements. GDPK employment law and charity law and we considered the enent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations *hat have a direct impact on the preparation of the financial Page 21
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST HELEN'S SCHOOL. NORTHWOOD YEAR ENDED 31 AUGUST 2024 statements such as the Charities Act 2011 and the Companies Act 2006 and consider other factors such a5 PAYE tax. We evaluated rnanagement's incentive5 and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the improper recognition of revenue and management bias in accounting estimates. Audir procedure5 perforrned by the engagement team included: Inspecting correspondence with regulaiors and tax authorities", Discussions with management including considerntion of known or suspetted instances of non<ompliance with laws and regulation and fraud: Evaluating management's controls designed to prevent and detecr irregularities. Identlfying and testing journals. in particular journal entries posted at the yearend; Challenging assumptions and judgements made by management in their critical accounting estlmates. Because of the inherent limitations of an audiL there is a risk that we wlll not detect all irregularities. inclvding those leading to a marerial misstatement In the financial statements or non-compliance with regulation. This risk increase5 the more that compliance with a law or regulation is rernoved from the events and transactions reflected in the financial statements. as we will be le$5 likely to become aware of instances of non-compliance. The risk is a150 greater rerarding irregularities occurring due to fraud rather than error. as frydud involves int¢ncional ¢oncealment. forgery. collusion. omission or misrepresentation. A fvrther description of our re$ponsibilitie$ for the audit of the financial statements is located on the Financial Reportlng Council's website at: wwr*4.frc.org.ukJaudltorsresponsibilicies. This description forms part of our audicor's reporc. Use of our report This report is made solely ro che ¢haritable company's members, a body. in accordance wich Chapter 3 of Part 16 of the Companies Act 2006. Our 3udit work ha5 been undertaken so that we migh¢ state to the charitable company's members those matter5 we are requlred to srate to them In an Auditor's report and for no ocher purpose. To the fullest extenc permitted by law. we do not accepr or assume responsibility to anyone other than the charitable company and the charitable company's members, as a bodyp for our audic work for this repor4 or for the opinions we have forrned. Kathryn Burton Senior Sotutory Auditor For and on behalf of Haysmx LLP Statutory Auditor 10 Queen Street Place London EC4R 1AG Date: 4th April 2025 Page 22
ST HELEN'S SCHOOL, NORTHWOOD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 AUGUST 2024 Restricted Unrestrrcted 2024 2024 £'ooo £'ooo Total 2024 £'ooo Total 2023 £'ooo Notes Income from Charitable activities Fees Receivable Ancillary & Other Income Other trading artivities Non-Ancillary Tradlng Income Investments Bank and other invesrmenrs Voluntsry Sources Donati¢)ns Government Grants Total incoming resources 23,874 375 23.874 375 22.638 244 1.069 1,069 1.070 229 229 141 2S.547 25,550 24.098 Expenditure on: Raising funds Non4ncillary trading 386 386 386 386 350 350 Charitable artivities Education Refunded Donatlons Total expendithre 23.508 23,508 110 24,004 21.609 110 110 23,894 21.959 Net income (107) 1,653 1.546 2,139 Galn on unfunded penslon Net movement in funds for the year (107) 1.655 1.548 2.154 Transfer of funds (29) 26 {3) Totsl filnds brou8ht forvnrd 303 28,511 28,814 26.660 Total funds Gvried forward 17 167 30.192 30,359 28.814 All income and expenditure relates to continuing activities. The notes on pages 27 to 39 form part of these financial 5L1tements. Page 23
ST HELEN'S SCHOOU NORTHWOOD CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2024 Notes 2024 £'ooo 2023 £'ooo £iooo £'ooo Fixed assets Tangible ¥sets 30.959 30,253 Current assets Debtors Cash at bank and in hand 10 871 559 3,451 4,010 (5.323) 6.960 7,831 (5,996> Creditors: amounts falling due wlthln one year 12 Net rrent Ilabllltles 1,835 1,313 Total assets less current Llabllltles 32.794 28,940 Creditors: amounts lalllng du¢ after more than one year Deferred Income Provlsl<>ns for liabllitle$ Q.349) {42) Unfvnded pensions Net assets 14 17 86 30.359 84 28.814 Funds Restricted Unrescritted Toc¥l funds 15 167 30,192 30,359 303 28,510 28.814 17 The consolidated income and expenditure account Includes a surpkjs of L1.475.000 (2023: £1,80S.000) which Is dealr with in Che financi statements of the parent company. Approved and authorised for issue b .the Board of Directors on and signed on irs behalf: Philip Young (Dirertor) Nadeem Boghani (Director) The notes on pases 27 to 39 fomi part of these financial statements Page 24
ST HELEN'S SCHOOU NORTHWOOD SCHOOL BALANCE SHEET AS AT 31 AUGUST 2024 2014 £*ooo 2023 £'ooo £•ooo £'ooo Fixed assets Tangible assets 30,959 30,253 Current assets Debcors Cash at bank and in hand 1.159 6,496 7,655 841 2,929 3.770 Credltors: amounts falllng due within one year (5,824) (5,093) Net current Ilabllltles 1,831 1,323 Total assets less current liabilitles 32,790 28,930 Creditors: amounts falling due after more than one year Deferred Income ProvIsI<5 for liabllities .349) (42) Unfunded pensions Net assets 30,355 28.804 Funds Restricted Unrestricted Total fvnds 167 30,188 30,355 303 28,501 28,804 Approved and auchorised for issue by the Board of Dlrectors on and signed on irs b¢haW: Philip Young (Director) Nadeem Boghanl (Dlrec¢or) The notes on pages 27 to 39 forni part of these financial statements Page 25
ST HELEN'S SCHOOL, NORTHWOOD CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 31 AUGUST 2024 No 2024 £'ooo 2023 £•ooo £'ooo £•ooo Net outhow from operations: Net Cash provided by operating attivities (i) 5.350 3.069 Cash flow from Investlng artlvltles: Purchase of tangTble fixed assets Income from bank & other investments Net cash (used in) I provided by Investing artivities (Z070) 229 (959) 141 (1.841) (818) Change in cash and cash equlvalents In the reportlng period 3,509 2.251 Cash and cash equir4lents at beglnning of period 3,451 1.200 Cash and cash eqUkValen at the end of the reporting period 6.960 3.451 (l) Reconciliation of net income to net cash flow fmm Operating activitles 2024 £'ooo 2023 £'ooo £pooo 1.548 £'ooo 2.154 Net incoming resources Elimination of nOnperating cash flows: Investments Income Depreciation charge (Increase)Idecrease in debtors (De¢rea5e)lincrease in Eredirors (excluding the fees in adrdnce scheme and parents, deposit) Pension Scheme revaluation Loss on disposal of fixed assets Increase In fees in advance scheme creditors Increase in parents. deposits (Decrease) in deferred income (229) 1.083 (312) (141) 1,154 58 (380) (2) 281 (21) (14) 844 210 2.307 207 (331) 3.802 915 Net sh infiow from operations 5.350 3.069 (li) Anotysis of Cash & Cosh equivalents 2023 £'ooo 6.960 2024 £'ooo 3.451 Cash at bank Overdr&ft &960 3.451 Page 26
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 The company is a Privote limited company incorporoted in the Englond and Wales (registered no. 00420867) and operotes frnm its registered office in Eastbury Roo4 Northwood, MiddlespJ. HA6 3AS 1 ACCOUNTING POLICIES (a) Accounting ¢onventlon The finanoal statements have been prepared in accordance with the Financial Reporting ST2ndard applicable in the UK and Republic of Ireland (FRS102). the Companies Act 2006 and the Statement of Recommended Prdctice applicable to charities preparing thelr accounrs in accordance with ¢h• Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland {FRS 102}- Second Edition. The funaional currency of the School Is considered to be G8P because that is the currency of the primary economic environment in which the School operates. The accounts are drawn up on the hiscorical cost basis of accountin8. modified by the reydluation of investment propenies and other investmenrs. The School ha5 taken advanrage of the exernption available to a qualifying entity in FRS 102 from the requiremenc ¢0 present a charlty only Cash Flow Sratement with the consolidated financial Statements. The School 15 a Public Benefic Entity registered as a charity in England and Wales and a company limlted by guary4n¢ee. It was incorpordted on 04 Occober 1946 (company number.. 00420867) and rew'stered as a charlty on 21 March 1963 (charity number: 312762). The School has taken advantage of the exemption under sectlon 408 of the Companles Att 2006 nor co publish Its own Income and expenditure accounL Crltlcal accountlng ludgements and key sources of estimation uncertainty In the applicatlon of the accounting policies. trustee5 are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are noc readily apparent from other sources. The estlmates and underlying assumptions are based on historical experience and other faetors that are consldered to be relevant. Attu resulu may differ from these escima¢es. The estimat¢s and underlying assumptions are reviewed on an ongoing ba515. Revisions to accounting estimates are recognised In the period in which the e5tirnace is revised If the revSslon affecLS only thac perlod. or In the period of the revision and fvture periods If the revision affected current and future period In the vlew of the trustees, no assumptions concerning rhe future or estimation uncer¢ainry affetting assets or liabilities at the balance sheet date are likety to resulc in a material adjustment to cheir carrying amounts in the nex¢ financial year. (b) Going Concern Havlng reviewed the fundlng facllitl¢s ava112ble to the School together with the expetted ongolng demand for places and the School's future projected cash flovls, the Governors have a rea50nable expettation that the School has adequate resources to continue its activities for the foreseeable future and consider that there were no ma¢erSal uncertainties over the School's financlal viability. Accordingly, they contlnue to adopt the going concern basis in preparing the financial statements. (c) Consolldatlon The consolidated financial 5ratement5 con501idate the financial St1Ments of the School and its wholly owned subsidiary. SL Helen's Enterprises Limited. company number 02834608. No separdte Statement of Flnancial Attivities (SOFA) has been presented for the charley alone, as permitted by Settion 408 of the Companies Att 21JO6. Page 27
ST HELEN'S SCHOOL, NORTHWOOD
NOTES TO THE FINANCIAL STATEMENTS
AS AT 31 AUGUST 2024
(d) Fees receivable and similar income
Fees receirdble and charges for rhe use of PrniseS are accounted for in the period in which the service is
provided. Fees receirdbles are sted after deducung atlowances, bursaries, scholarships and other remissions
granted by the School from its unrestricced hjnds.
Fees received in advance of the academic year to which they relace are treated as a deferred r¢venue In creditors
and released in the year to which they relate.
Donations are accounted for when the School l
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 (l) Pension schemes The School conuibutes to the Teachers, Superannuation Scheme xt rdtes set by the scheme actuary and advised to the board of directors by the scheme administrator. The School also contributes to a defined contribution scheme for non-teiching stsff. The contributions charyed to the income and expenditure account in respett of both scheme5 are those payable in accordance with the rules of the schemes. The School has unfunded pension commrtments to fornier employees. Prowsions for the capital cost of the commitments have been made based on the life expectancy of the former employees. based on calculations performed by a qualified actuary. It was assurned that the annual payments would increase at the rate of increase in the reul prices index each year. A discount factor equivalent to the yield on long dated M rated corpordte bonds vS used to calculate the cost of c4ptsl. O) Flnanclal Instruments Basic financial instruments are initially recognised at transaction fdlue and subsequently measured at arnortlsed cost with the exception of investments which are held ar fair Y41ue. Financial a55ets held at amorrised cost comprise cash ar bank and in hand. together with trnde ind other debtors. A specific provision is rnade for debts for which recovernbility Is In doubL Cash at bank and in hand 15 defined as 1 cash held in InstanE access bank accounts and used a5 working capital. Flnancial liabilities held at amortised cosc comprise all creditors except soclal securicy and other te5 and provisions. (k) Funds Fund5 held by the charity are: Unrestrlcted funds are funds which can be used In accordance with the School's objects. ac the dlscretion of the directors. Restricced funds are fijnds that can be used for particular restricted purposes, within the obietts of the School. Restrictsons arise when specified by the donor. 2 STATUS AND MEMBERS The company Is limited by guarantee. and therefore does not have a share caprtal. Each member agreed tha in che event of che company belng wound up, he or She wlll contribute co the asse(s a sum not exceeding one pound. Control of the company is vested in the Council of Governors. 3 TRADING ACTIVITIES The School owns 100% of the issued share capital of St Helen's School Enterprises Limited (Enterprises). The principal activity of the company 15 to genernte income for the use of the School in support of the School's educational objertives. During the year the inter-company transattions betmeen the School and Enterprises amounted to £327,216 (2023: £344,333) excluding gift aid. During the year. Enterprises paid the School £327,216 (2023: £325.350) in relation to a service charge and £60.000 (2023- 160.00)) in relation to a licence fee. In addition, a gift aid payment of £305.800 (2023: £345,851) vrts made in relarlon to rhe 2023 taxable surplus. The company donates its taxable profits to the School each year under the Gift Aid Scherne. Its trading results ex¢ratted frorn its audited accounts were: Page 29
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 2024 £iooo 2023 £'ooo Turnover Cost of sales Gross profit Administrative expenses Net profit Sundry 5ncome includinz Grant Interest 1.068 63 1,070 (608) 462 431 136 128) 334 295 11 Donation under 81ft ald Retained profit 306 346 Current Assets 484 586 CREDITORS: amounts falllng due within one year 476 578 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Called up share capical Retsined earnings SHAREHOLDERPS FUNDS Page 30
ST HELEN'S SCHOOU NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 4 FEÉS REceivABLE Consolidated 2024 2023 £00 00 Tuitit)n 25,942 25,942 24.550 24,550 Scholarships Bursaries (616) 1,4S2 23,874 <495) 1,417 22,638 The toral number of pupS1s in receipt ol. Stholar5hipi and lty<•i dis£¢)un¢ Burs¥los Numb¢r Number 144 138 78 79 5 ANCILLARY & OTHER INCOME Consolidated 2024 2023 00 £Y)00 Other eduational Income Regi$rr•tion f••$He In lieu of notSce 198 198 149 149 Other anc•llary in¢&ne Rent re¢•1Vle Ochèr £00 49 128 177 £YJoo 38 57 95 6 CHARrrABLE Acrivrry EXPENDITURE D•pr•c- latlon Total 2023 £'ooo Staff Other £'ooo 'ooo 2024 £'ooo £'ooo Teaching Costs Weltsre Costs Premise5 C05t5 Support Costs Refvnded O¢Jnations 12,743 354 736 2.975 815 1,538 1.407 2.246 110 6.116 13.558 1.892 3.223 5.221 110 24.004 12.358 1,751 3,570 4.280 1.080 16,808 1.080 21,959 Induded In Support Costs Audlt fths - ¢urrent year 39 34 Durin8 fh• y•ar. £1.314 Y7$ r•lmbursed to Gtrfftnors P023 - £3781. Page31
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 7 STAFF INFORMATION 2024 £'ooo 12,725 1,269 2,373 16.367 441 16,808 2023 £'ooo 11.467 1,234 2.002 14,703 387 15.090 Wages and sal¥ies Social securiry coscs Other pension costs 4gency soff The number of persons employed durin8 the year vffj: Number 183 185 368 Number 179 166 345 Teachin8 Staff Non-teaching sraff No emoluments were pald to che directors of the schod. The number d ¢n)ployees vthose emoluments ¢xc¢¢d¢d £60,000 was: Number NLimbtr £60,001 - £70.000 £70,001 - £80,000 £80.001 - £90.000 £90,001 - £100.000 £100,001 £110,000 £130,001 . £140,QQO £170.001 - £180.000 23 14 18 12 Contributioris of £771.569 were made to the Teachers, Superannuation Scheme for 41 (2023 - £422,925 for 24) higher pald employees and coneriburions amounting to £52,508 were made co a defined contrlbucion stheme for 6 (2023 - £3,5060 for 5) higher paid employees. 2024 £'ooo 1.492 13 2023 £'ooo 1.442 sregate employee remuneration ol key fflageMent personnel Number of employees Redundancy and cermination paymenrs of £106,908 were paid during the year Q023 - £90,956). There Vre no amounts ouutanding to be pald at th¢ year end. Sep¥at• non contractual paymenrs were made Nil (2023 - £175k) Page 32
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 School luvnlture and •qulpm•nt Sub51dl4ry lurnltur• & •qulpm•nt Fr¢•hold bulldlngi M•tor v•hltl•J Sthool Tatal Group Total 8 TANGIOLE FIXED A55ÉTS Land 'ooo 'ooo £'ooo l'ooo 'ooo 'ooo £'ooD Colt At 1 S•pr•mber 1023 Addit* Transfers DIsp05als At 31 August 2024 51 3&418 195 4,676 646 831 41171 2.070 146 42,317 2,070 1,416 12,1981 2,198 281 281 181 44,106 51 J8,335 2Q3 S,322 49 43.960 146 D•pr•cl4tlon At 1 Styternb¢r 1023 Charle lor the y•ir Dlspoials At 31 Au8llSt 2024 7,974 n6 167 10 3,777 347 11,918 1,093 146 11064 1,083 8,7fp) 177 4,124 13,001 146 13,147 N•t btsvk v8lu• At 31 AuRuit 2024 At 1 S•pt•mbqr 2023 51 29,635 26 1.198 49 30.959 30.959 51 28,444 899 831 30,253 30,253 The co$t of freehold ld and bulldlni5 InekJd•3 £51,047 rnlaoni to land12023.. LS1,0471 whkh Is not depre<iatqd15ee note 1 Ihll. Pw33
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 9 SUBSIDIARY UNDERTAKINGS The school has a subsidiary company. St Helen's Enterprises Llmited. which is wholly owned and incorporated in England and Wales. company number 02834608. The principal 4ccivity of St Helen's Enterprises Limited is eo generate trdding income for the School. 10 DEBTORS DUE WITHIN ONE YEAR Consolldated Total Total 2024 2023 Sthool Total 2024 Total 2023 Du¢ thin one ye¥ Trade debtor3 Amounts owed by subsld•ry undertthn8 Prepayments & accrued income 313 112 298 308 553 1,159 50 346 445 841 558 871 447 559 11 CASH AT BANK AND IN HAND Consolidated School Total Total Total Total 2024 2023 2024 2023 £pooo £?000 £'ooo Éjooo Current accounts 6.9S9 3,450 6.495 1928 Cash in hand 6,960 3.451 6,496 1929 12 CREDITORS DUE WITHIN ONE YEAR Consolldated School Totsl Total Total Total 2024 £'ooo 2023 2024 2023 £'ooo £'ooo £'ooo Trnde creditors 294 320 283 315 Fees in advance Deferred income - received for the 2025 academic year Fee deposits Tuation & social securtry cosrs Other credicors 2,069 613 1,570 309 1.838 2.069 489 1,570 304 1.648 1.360 1.358 289 290 656 743 656 743 Accruals 485 772 452 739 5.996 5.323 5.823 5.092 Creditors due greater than 1 year Fee In Advance Scheme 2,307 2.307 Page 34
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 13 ADVANCE FEE PAYMENTS Consolidated £'ooo 1.838 (1.838) 4,376 4,989 School £'ooo 1,648 (1.648) 4.376 4.865 At 1 September 2023 Released in year Cash received in advance At 31 August 2024 14. PENSION SCHEMES Consolidated and School 2024 2023 'ooo £'ooo 98 24 (23) 15) 84 At 1 September Paid durin8 the year Decrease In provislon Re-valuation At 31 August 2024 25 (21) (2) 86 15 RESTRICTED FUNDS 1 Sept 2023 Incoming Outgoing Trnnsfer £'ooo £'ooo £'ooo £'ooo 52 31 Aug 2024 £'ooo 52 Movement in year Bursaries Fund Student Enrichment Fund Capital Fund Prize Fund Donations 104 107 139 303 110 29 110 (29) 167 Prlze funds represent donatlons recelved over a significant period where the donor specified that the income was w fund a prize. 16 DESIGNATED FUNDS 1 Sept 2023 Incoming Outgolng Transfer £'ooo £'ooo £'ooo £'ooo 38 31 Aug 2024 £'ooo 38 Development Fund Development fund Is to make provlslon for the development of the school estate& Page 35
ST HELEN'S SCHOOL. NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 17 ANALYSIS OF NET ASSETS BETWEEN FUNDS Restrirted Unrestricted Funds Funds Totsl Funds Consolldated funds at 31 August 2024 are £:000 £'ooo represented by Tangible Fixed Asseu Net current assetsl(liabillttes) Credirors due after more than one ye¥ Provision for liabilities 30,959 1.668 (2.349) (86) 30.192 30,959 1.835 (2.349) 86 30,359 167 167 School funds at 31 August 2024 are represented by Tanwble Fixed Assets Net current asset51{liabilitSes) Creditors due after more than one ye¥ Provlslon for Ilabillcies 30,959 1,664 (2.349) 86) 30.188 30,959 1,831 {2.349) (86) 30,355 167 167 18 CAPITAL COMMITMENTS Tho $¢hool has no capital commitments for the year end 2024-25 (2023 - £1.783,000). 19 TAXATION No liabiliry to United Kingdtsm taxatlon arisès by vlrtue of the charitable status of the S¢hool. Profics arising in St. Helen's Enterprises Limited are gifted to the School. 20 PENSION SCHEMES The School operates tsvo pension schemes which cover the maioriry of its employees. The &ssers of the scheme$ arn held separately from those of the School. beln8 invested with elther the state or insurance tompanles. and are independently administered. {a). The penslon charge for the year Includes contributlons payable to the TPS of £1,881,505 (2023: £1.602.882) nd at the year-end £231,563 (2023.. £190.138) was accrued In respect of contrtbutlons to thls scheme. The TPS 15 an unfvnded mulri-employer deflned beneflts penslon scheme governed by The Teachers, Pensions Regulations 2010 (as arnended) and The Teachers, Pension Scheme Regulations 2014 (as amended). Mernbers contribure on a 'pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are piid by public funds provided by PxrliamenL The employer contribution r4te is set by rhe Secretsry of State following scheme valuatlons undertaken by the Government Actuary's DepartmenL The mosc recent actuarial luatIon of the TPS vfas prepared as at 31 March 2020. The Valuation Repo was published in October 2023. Followlng the Mccloud judgemenL the remedy proposed that when benefits become par4ble, eli8ible members can elecr to receive them from either the reformed or legacy schernes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefrts. and in preparing the 2020 valuation have lUed the greater value, benefits for groups of relevant members. Page 36
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 The employer contribution rnte is sec by the Secretary of State following scheme valuations undercaken by the Governmenc Actuary's DepartrnenL The most recent actuarial valuation of the TPS vns prepared as at 31 March 2020. The Valuation Repor4 was published in Ottober 2023. Following the Mccloud judgemenL the remedy proposed that when benefits become payable. eligible members can elecc to receive chem from either the reformed or legacy schemes for the perlod 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the opcion that provides thern with che greater benefits. and in preparing the 2020 Yaluation have valued the'greater Ydlue. benefi for groups of relevant members. The Yaluation confirmed that the employer concribution rate for the TPS would increase from 23.6% to 28.6% from 1 Aprll 2024. Employers are also required to pay a scheme admlnistrdtion levy of 0.08% giving a total employer contribution rate of 28.68%. (b) For non-ceaching soff, the school oper&ces a defined conrriburion 5cherne. The peDslon cost charge In respect of that scheme amounted to £363.718 (2023: L375,780). Included in creditors are contributions payable ¢0 the scheme amounung to £49,465 (2023: £45,957). The Sch¢xJl paid £25.188 (2023., £23.762) to pensioners who are members of the unfunded pension. Page 37
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 21 COMPARATIVE NOTES TO THE FINANCIAL STATEMENTS 21.1 Statement of Flnanclal Artivities 2023 Notes Restricted Unrestricted 2023 2013 £'ooo £'ooo 2022 Totol 2023 £'ooo Total 2022 £'ooo Income from: Charltable actlvltles Fees receivable Ancillary & other Income Other trading activities Non-ancillary trnding Incorne Investments Bank and other investments Voluntary sources Donations Government 8rant Total incoming resources 22,638 244 22,638 244 19,865 253 1.070 1.070 992 141 141 130 24,093 24.098 21,247 Expenditure on: Raising funds Non-ancillary trndin8 350 350 350 350 324 324 Charltable actlvltles Education Total expendlture 21,609 21,959 21.609 21,959 19.509 19,833 Net Income 2,134 2.139 1,414 Gain on unfunded penslon 15 15 13 Net movement in funds for ehe year 2.149 2.154 1,427 Transfer between fvnds Total funds brought fonrdrd 298 26.362 26.660 25.233 Total funds carried forward 17 303 28,511 28.814 26,660 Page 38
ST HELEN'S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2024 21.2Analysis of net assets between funds Restricted Unrestrlrted Funds Funds Total Funds 'ooo £'ooo £'ooo Consolidated funds at 31 August 2023 are represented by Tangible Fixed Assets Net current assets1(liabilities) Creditors due after more than one ye¥ Provision for liabilities 30,253 {1.6161 (42> 84 28.511 30,253 (1.313) (42) 303 303 28,814 Sthool funds at 31 August 2023 are represented by Tan&ble Fixed Asset5 Net current assetslQiabilirles) Creditors due after more than one y¢ar PrO$10n for liabilities 30.253 (1,626} (42) 84 28.501 30.253 (1,323) (42) 84 28.804 303 303 22 RELATED PARTY TRANSACTIONS All Governors are required ro complete an annual return recordlng organlsaESons wlth whlch they are Involved and where there could be potential conflicrs of interesc. All such transactions are at arm's [enh and on standard commercial ternis. On¢ Governor has a daughter at th¢ School on full fees (without any remission). There are no further rellred party transactions. 23 POST BALANCE SHEET EVENTS On 30 October 2024. following consultation of drdft legislaclon. the government confirmed that leoslacion would be enatted to introduce VAT on private school fees. and this came into force on 1 January 2025. The government eonfirnied that buslness rates relief would be removed from 1 April 2025 for private Schools wlth charirable sucus. Page 39