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2025-08-31-accounts

Company No. 00420867 Registered in England Charity No. 312762

ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

Contents Page
Governors, Officers and Advisers 1
Annual Report of the Governors
Governors’ Report 3
Strategic Report 7
Independent Auditor’s Report 13
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
School Balance Sheet 18
Consolidated Cashflow Statement 19
Notes to the Financial Statements 20

ST HELEN’S SCHOOL, NORTHWOOD GOVERNORS, OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2025

GOVERNORS, DIRECTORS AND CHARITY TRUSTEES

The Governors of St Helen’s School, Northwood (“the School”) are the School’s charity trustees under charity law and the directors 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) Appointed 22 September 2022
Mrs M Bhandari (Joint Vice Chair) Appointed 8 December 2014 ●
Mr N Boghani (Joint Vice Chair) Appointed 8 December 2014 ●
Ms S Davis Appointed 18 November 2022 ● ●
Dr Y Burne Appointed 3 November 2025 ●
Ms P Mongia Resigned 4 July 2025 ●
Mrs A Epsley Resigned 4 July 2025 ●
Mr D Frank Appointed 12 July 2023 ●
Mr S Smith Appointed 9 March 2026 ●
Mrs R Patel Appointed 11 March 2026 ●
Mr B Turner Appointed 7 August 2023 (Resigned 04 March 2026) ●
Mr C Watson Appointed 12 July 2023 ●
Ms Z Janmohamed Appointed 24 October 2022 ●
Mrs R Thakar Appointed 04 October 2024 ●
Mr D Tidmarsh Appointed 01 July 2024 ●

(2) Education Committee

During the year the activities of the Governing Body were carried out through two committees in addition to termly Full Council meetings. The membership of these committees is shown above for each Governor.

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ST HELEN’S SCHOOL, NORTHWOOD GOVERNORS, OFFICERS AND ADVISERS YEAR ENDED 31 AUGUST 2025

OFFICERS Head Mrs. Bridget Ward Clerk to the Governors: Mrs. Amanda Adamis Registered company number: 00420867 Registered charity number: 312762 Principal and Registered Office address: St Helen’s School Eastbury Road Northwood Middlesex HA6 3AS Bankers: Barclays Bank plc 54 High Street Ruislip Middlesex HA4 7AT Auditor: HaysMac LLP 10 Queen Street Place London EC4R 1AG Solicitors: Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS1 4QA Website www.sthelens.london

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

The members of the St Helen’s School, Northwood Governing Council present their Annual Report for the year ended 31 August 2025 under the Charities Act 2011, the Charities SORP and the Companies Act 2006, thus including the Directors’ Report and Strategic Report under the Companies Act 2006, together with the audited financial statements for the year. The consolidated financial statements include the financial statements of St Helen’s School, Northwood and its subsidiary company, St Helen’s Enterprises Limited.

GOVERNORS’ REPORT

CONSTITUTION AND OBJECTS

St Helen’s School was founded in 1899 and is registered with the Charity Commission under charity 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 is governed by its memorandum and articles of association dated 4 October 1946 as amended by special resolutions passed on 26 March 1996, 22 March 2004 and 30 June 2015.

Charitable Objects

The charity’s objects as set out in its memorandum of association are to:

AIMS, OBJECTIVES AND ACTIVITIES

Our students are intellectually curious and eager to explore how they can best interact with the world around them, making a positive difference in their own unique way. They will be prepared for whatever the future holds.

Our girls will:

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

GOVERNANCE AND MANAGEMENT

Governing Body

The charity is run by its trustees, who constitute the School’s Council of Governors and are the directors for the purposes of company law. Council is self-appointing and may from time to time invite universities (and other further education bodies) or professional bodies to nominate a Governor. Council may consist of between five and twenty members. Service on Council is for a term of three years and retiring governors can be re-elected a maximum of 3 times after an initial term of 3 years, to serve up to 12 years in total.

Council takes its governance responsibilities seriously and, as a large charity, aims to have a governance framework that is fit for purpose, compliant and efficient. The Council has established a solid foundation in governance in which all trustees are clear about their roles and legal responsibilities, are committed to supporting St Helen’s to deliver its objects most effectively for the benefit of its beneficiaries and contribute to the School’s continued improvement.

Overall, the School’s Council of Governors 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 comfortable there are no significant areas of review required. Arrangements will continue to be monitored against the best practice principles contained within the Code.

Recruitment and training of Governors

Governors are appointed as vacancies arise. New members of the Council of Governors are elected based on nominations from the Governors and the executive officers and on the candidates’ professional qualities, experience, personal competence and availability. Candidates are interviewed and the suitability of candidates is discussed by Council before candidates are invited to join Council.

The general policy is that New Governors are inducted into the workings of the School, including Council policy and procedures, at an induction session specially organised for them. The new Governors are also invited to attend specialist external courses on the role and responsibilities of charity trustees and in School training e.g., child protection and safeguarding delivered by the Designated Safeguarding Lead.

As required, Governors attend external trustee training and information courses designed to keep them informed and updated on current issues in the sector and regulatory requirements.

Organisational management

The School Governors, as trustees of the charity and directors of the company, are responsible for the overall management and control of the School. Full Council meets formally at least once a term. Committees are staffed by appropriate governors, with regard to experience, expertise and interest.

The Governors meet to review the strategy and performance of the School and to set operating plans and budgets. The work of implementing their policies is carried out by two Committees:

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

A new Director of Finance took up office in October 2025.

Employee Remuneration

The Council of Governors sets the remuneration policy for the Head with the objective of recruiting, rewarding and retaining a high-quality individual who is appropriately incentivised to contribute to the success of the School. The key management personnel in the school are the Senior Leadership Team which, apart from the Head and Finance Director, consists of the Business Operations Director, Senior Deputy Head Pastoral & Wellbeing, Deputy Head Pastoral, Deputy Head Academic, Deputy Head Teaching & Learning, Deputy Head Operations, Deputy Head Pupil Engagement & Communications, and Directors of Sixth Form, Prep and Digital Learning.

Remuneration is reviewed annually and considers general economic factors and comparisons with peer group independent schools through consultant surveys to ensure that the School remains competitive.

Group Structure and Relationships

The charity has a wholly owned non-charitable subsidiary, St Helen’s Enterprise Limited, whose activities and trading performance are discussed below.

The School is a member of the Association of Governing Bodies of Independent Schools (AGBIS), the Independent Schools’ Council (ISC), the Girls’ Schools Association (GSA), the Independent Association of Prep Schools (IAPS) and the Independent Schools’ Bursars’ Association (ISBA). The School networks widely with other schools to promote high quality learning and to learn from others’ experiences.

Environmental and Employee Matters

The School is mindful of its environmental responsibilities and strives for improvement. Pupils and staff are encouraged to use and recycle all types of resource carefully to conserve physical resources and energy. The significant capital investment in the School site in recent years has all been planned with environmental considerations at the heart of any new buildings, including living green roofs, solar arrays, water attenuation systems and energy efficient mechanical and electrical installations. The School’s commitment to the environment is recognised by the award of the Green Flag by the Eco-Schools organisation, the award of the London Borough of Hillingdon’s Travel Plan “STARS” accreditation (Gold level) and by the award of Fairtrade School status.

St Helen’s has comprehensive health and safety policies and provides a safe and healthy environment for its pupils and employees.

St Helen’s is committed to equal opportunities for all pupils and staff. Every effort is made to accommodate pupils or staff with disabilities and to ensure that staff participate in all career opportunities available. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment needs. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests.

Employees are encouraged to participate in the 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 appropriate. Employees are made aware of the financial and economic performance of the School.

STATEMENT OF GOVERNORS’ 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 the financial statements in accordance with applicable law and regulations.

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

Company law requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the Governors at the date of this report is aware, there is no relevant audit information of which the charitable company’s auditor is unaware. Each Governor has taken all the steps that he/she ought to have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

STRATEGIC REPORT

MISSION STATEMENT

Strategic Plan

St Helen’s seeks to provide an innovative education that empowers its girls to thrive and succeed in the 21[st] Century.

Whilst the school is immensely proud of its students’ achievements in public examinations, it remains committed to providing an educational experience that reaches well beyond academic attainment. We are committed to developing young women who are kind, intellectually curious, and guided by integrity and a strong moral ‑ ‑ compass. Our pupils are encouraged to become problem solvers, creative thinkers, team players, and leaders, equipped with the skills and dispositions needed to contribute meaningfully in a rapidly evolving world.

We know how important it is that children have the space to think, the support to learn from mistakes and the freedom to have fun, and we seek to provide that space at St Helen’s. We also know that if we want to see change, we must drive it. In 1899, May Rowland Brown founded St Helen’s School with the foresight of educating girls, through a holistic and challenging programme. 126 years later, we reflect on what came before, but we also look ahead. We understand that whilst we are custodians of the much loved traditions of this community, it is our responsibility to drive the school forward so that it continues to offer a modern, creative and intellectually exciting curriculum which prepares our pupils to play a full and active part in their communities and in an interconnected digital and global society.

We are proud and committed to single sex education, committed to creating an environment where students are free from stereotypes and prescriptive expectations. We do not ascribe subjects, sports or careers to any gender; instead, we see them simply as opportunities. Our students are encouraged and supported to pursue whichever academic or co ‑ curricular pathways align with their interests, passions, ambitions and talents.

We recognise that many girls experience a pervasive pressure to be perfect, an expectation that can lead them to play safe, achieve highly yet avoid risk, shy away from creativity, and limit their aspirations. At St Helen’s, we intentionally nurture a mindset that values effort over outcome, and we view mistakes not as setbacks but as essential stepping stones for learning and growth. We understand how important it is for girls to have space to reflect, the support to learn from missteps, and the freedom to enjoy their education, and we work hard to provide that environment every day.

A successful and happy school depends on all of us working together.

One School. One Staff. One Purpose

STRATEGIES TO ACHIEVE THE OBJECTIVES FOR THE YEAR

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

The 2025 GCSE summer results were largely in line with 2024’s results:

A level results

The A Level results for 2025 surpassed 2024’s results:

The school continues to support a diverse range of post-18 pathways, with 85% of the Year 13 cohort securing places to their first choice university. Applications spanned STEM, social sciences, humanities, and creative industries and included notable successes such as Cambridge and Oxford offers for Languages and Computer Science and Philosophy.

St Helen’s academic success is recognised by its place in the Independent UK schools ranking. St Helen’s is also recognised as providing a first class, all round educational experience to complement its drive for academic excellence. St Helen’s offers a range of Co-Curricular opportunities for all students across the whole school such as music, sport, drama, the Combined Cadet Force (CCF), the Duke of Edinburgh’s award a vast variety of clubs and societies, as well as involvement with a range of charities. In the Senior School, we aim to give our students opportunities to perform in concerts and productions, to represent the School in competitive sport, to extend their experiences and broaden their horizons, or simply to try out a new activity or to lead their own club or society.

‘Our Co-Curricular Provision therefore aims to enrich and enhance the lives, personal

development and wellbeing of every girl, igniting new and existing passions as well as hidden talents ’.

Bursaries and Scholarships

‑ The School provides means tested bursaries to support the continuity of education for existing pupils and to facilitate access for those who would not otherwise be able to attend St Helen’s. These awards are conferred at the School’s discretion and may, where deemed appropriate considering assessed financial need, encompass up to the full amount of tuition fees together with any associated charges. Bursaries are administered independently of scholarship awards, and pupils may be considered for both forms of assistance. As the School does not maintain a significant endowment, bursaries are funded from annual operating income, and the level of support available may therefore vary from year to year. The School remains mindful of the need to maintain ‑ an appropriate balance between full fee paying parents, many of whom make considerable personal sacrifices

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

to fund their child’s education, and those in receipt of bursarial support. Owing to the breadth and variability of circumstances that may give rise to eligibility, the School does not make public a detailed set of bursary criteria.

Each year, the School makes available a range of scholarships that offset a proportion of tuition fees. Academic awards are granted solely on merit and are independent of an applicant’s financial position. The School also ‑ offers a limited number of talent based awards in music, art, sport and drama.

Pastoral Care

Safeguarding remains a fundamental component of the school’s pastoral provision. All staff complete regular compulsory safeguarding training in addition to the statutory training required under Section 175 of the Education Act 2002 and the Education (Independent School Standards) Regulations 2014, which set out the legal duties for schools to safeguard and promote the welfare of children. New staff also receive tailored induction sessions, either individually or in groups, with the Designated Safeguarding Lead (DSL) to ensure they fully understand their responsibilities and the school’s safeguarding procedures.

Our well-structured Pastoral system promotes personal growth and development. Form Tutors and Class Teachers know their tutees well and as individuals, as do Heads of Year and Phase Leaders. Pupils are comfortable 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 their own academic and personal development through one-toone coaching conversations with staff and by undertaking self-assessment activities. Conversations throughout Prep School are also increasingly of a coaching type.

FINANCIAL REVIEW

Results for the year

Following the implementation of VAT on tuition fees, the School experienced a slight reduction in pupil numbers. To mitigate the financial impact on families, the governors resolved to absorb the VAT liability for the academic year. Consequently, total incoming resources decreased to £22.8m (2024: £25.6m) with the majority (94%) generated by school fees and other educational income.

St Helen’s Enterprises operates under licence from the School and its activities include renting the School grounds and buildings as well as activities based in the Sports Complex. Income from the Enterprises was largely consistent with the prior academic year. There has been an increased focus on strategic direction, marketing and rebranding to reflect the launch of an Events offering in addition to the Sports Centre and venue hire, the School received a contribution from Enterprises of £310k for the year. The year ended with Enterprises generating £1,084k (2024 £1,069k) revenue and £341k (2024: £306k) operating surplus in the year, enabling it to donate £341k to the School under gift aid. The company held £49k (2024: £464k) cash at the year end.

The Governors carefully considered the economic circumstances when considering fee increases for the 202526 academic year and balanced this against the School’s strategic plans to continue to improve the standard of education offered and the facilities and staff resources necessary and its commitment to bursary and scholarship funding. The Governors agreed that fees should increase by 10% to £26,616 per annum (inc. VAT) with Prep School fees increasing by 10% to £21,216 per annum (Inc. VAT) from September 2025. Following the imposition of VAT from January 2025, the Governors announced the plan to mitigate the full financial impact on parents for the 2024-25 academic year by utilising surplus funds.

In summary, day-to-day expenditure remained controlled £24.8m (2024: £24.0m), the school however, generated a net resources outflow of £2.0m (2024: £1.5m) At year end, the School held no free reserves.

Fixed Assets

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

The directors are satisfied that there are no indicators of impairment to the market value of the School’s freehold properties which is substantially more than the book value and hence a professional valuation quantifying the difference is not required.

Fundraising

Fundraising at St Helen’s is an important part of the operation of the School. Fundraising is usually undertaken by the School’s Development Office, who have a newly appointed Director, and affiliated organisations of, primarily, volunteer groups of parents and alumni. There are no professional fundraising organisations used and so no monitoring processes required. The School subscribes to the Fundraising Regulator and adheres to the Code of Fundraising Practice when undertaking fundraising activity. There were no complaints received by the School in relation to fundraising activity in the past year. The School takes its responsibility to anyone who might be vulnerable very seriously and this will continue to be considered in the School’s approach to fundraising activity.

Reserves Policy

The Governors are committed to a policy of continuing 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 Governors’ are mindful that the School currently holds no free reserves. The school currently holds £28.2m in unrestricted, and £179k in restricted funds.

The Governors are aware of a free reserves deficit and do not consider that this presents a financial risk to the School in the short to medium term whilst net incoming resources remain strong. The School currently plans to utilise its cash balances to mitigate the VAT impact on parents for the 2025-26 academic year and defer further investment in buildings and facilities will continue to keep future requirement for reserves under review.

The Governors are satisfied that operating cash flows remain strong and will be sufficient to allow the School to meet its liabilities 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 investment in the School estate. In July 2018, a small finance facility was arranged with the School’s bank to accommodate short term cash flow requirements during the capital programme and this arrangement continues. Regular dialogue is maintained with the School’s bank to ensure that the appropriate financial facilities are available to call on should the need arise.

Accordingly, the Governors consider that the going-concern basis remains appropriate for the preparation of the School’s accounts.

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

RISK MANAGEMENT

The Council of Governors is responsible for the management of risks faced by the School. The Governors reviews and agree the School’s formal risk register and consider risks in the following areas:

The Governors consider the principal risks facing the School to be:

The Governors are satisfied that all major risks identified are adequately understood, being assessed and managed across the School and that appropriate mitigation measures and controls are implemented as and when necessary.

As part of the support strand to the Strategy, the School has developed a 10-year Estates masterplan following on from the completion of its previous plan which saw the development of the Junior School Building, Mackenzie 6[th] Form Centre, School of Music and most recently the STEM building and dedicated changing facilities and PE office. There is also a plan to address the lack of dining room capacity and to improve catering facilities in the Gables building. However, the rest of the plan is now on hold whilst full burden of VAT on fees is gradually transferred to parents.

The School, under the leadership of the Head and with full support of the board, launched a new 5-year strategic plan in January 2025, the plan includes a dynamic curriculum, Pastoral Care, and strengthening Community & Culture.

The Governors are committed to further developing links with the state sector and local community in line with the Schools Together programme. The School will be extending its connections with local state schools both in terms of shared educational objectives and through the furtherance of our bursary programme into schools who have not previously considered the option of their girls attending St Helen’s.

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Council of Governors of St Helen’s School, Northwood in their capacity as company directors approving the Directors’ and Strategic Reports contained therein, and is signed as authorised on its behalf by:

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ST HELEN’S SCHOOL, NORTHWOOD ANNUAL REPORT OF THE GOVERNORS (CONTINUED) YEAR ENDED 31 AUGUST 2025

Philip Young

Philip Young

Chair of Council of Governors

19/06/2026

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST HELEN’S SCHOOL, NORTHWOOD YEAR ENDED 31 AUGUST 2025

Opinion

We have audited the financial statements of St Helen’s School, Northwood for the year ended 31 August 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and School Balance Sheets, the Consolidated 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 Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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 inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST HELEN’S SCHOOL, NORTHWOOD YEAR ENDED 31 AUGUST 2025

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained during the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the independent school regulations, safeguarding regulations, health and safety requirements, GDPR, employment law and charity law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and the Companies Act 2006 and consider other factors such as PAYE and sales taxes.

We evaluated management’s incentives 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. Audit procedures performed by the engagement team included:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST HELEN’S SCHOOL, NORTHWOOD YEAR ENDED 31 AUGUST 2025

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kathryn Burton Senior Statutory Auditor For and on behalf of HaysMac LLP Statutory Auditor 10 Queen Street Place London EC4R 1AG

Date: 26/06/2026

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ST HELEN’S SCHOOL, NORTHWOOD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

AS AT 31 AUGUST 2025

Restricted
Unrestricted
Total
Total
2025
2025
2025
2024
Notes £'000
£'000
£'000
£'000
Income from
Charitable activities
Fees Receivable
4		 -
20,869
20,869
23,874
Ancillary & Other Income
5		 -
483
483
375
Other trading activities
Non-Ancillary Trading Income
3		 -
1,084
1,084
1,069
Investments
Bank and other investments -
343
343
229
Voluntary Sources
Donations 12
-
12
3
Total incoming resources 12
22,779
22,791
25,550
Expenditure on:
Raising funds
Non-ancillarytrading -
361
361
386
-
361
361
386
Charitable activities
Education -
24,412
24,412
23,508
Refunded Donations -
-
-
110
Total expenditure
6		 -
24,773
24,773
24,004
Net income/(expenditure) 12
(1,994)
(1,982)
1,546
Gain on unfundedpension -
2
2
2
Net movement in funds for the year 12
(1,992)
(1,980)
1,548
Transfer of funds -
-
-
(3)
167
30,192
30,359
28,814
Total funds brought forward
Total funds carried forward
17		 179
28,200
28,379
30,359

All income and expenditure relates to continuing activities.

The notes on pages 20 to 33 form part of these financial statements.

Page 16

ST HELEN’S SCHOOL, NORTHWOOD CONSOLIDATED BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
8
Debtors: amounts falling due after
more than one year
10
Current assets
Debtors
10
Cash at bank and in hand
11
Creditors: amounts falling due
within one year
12
Net current liabilities
Total assets less current
Liabilities
Creditors: amounts falling due
after more than one year
Deferred Income
Provisions for liabilities
Unfunded pensions
14
Net assets
17
Funds
Restricted
15
Unrestricted
Total funds
17		 £’000
10,524
3,954		 2025
£’000
28,808
1,022		 £’000
871
6,960		 2024
£’000
30,959
-
29,830
82		 30,959
1,835
14,478
(14,396)		 7,831
(5,996)
29,912
(1,464)
(69)		 32,794
(2,349)
(86)
28,379 30,359
179
28,200		 167
30,192
28,379 30,359

Approved and signed for issue by the Board of Directors on and signed on its behalf: 19/06/2026

Phili Youn p g

Philip Young (Director)

Nadeem Boghani (Director)

The notes on pages 20 to 33 form part of these financial statements

Company No. 00420867

Page 17

ST HELEN’S SCHOOL, NORTHWOOD SCHOOL BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
2025
2024		 Notes
2025
2024		 Notes
2025
2024
£’000
£’000
£’000
£’000
Fixed assets
Tangible assets
8
28,808
30,959
Debtors: amounts falling due after
more than oneyear
10
1,022
-
29,830
30,959
Current assets
Debtors
10
10,393
1,159
Cash at bank and in hand
11
3,905
6,496
14,298
7,655
Creditors: amounts falling due
within one year
12
(14,227)
(5,824)
Net current assets 71 1,831
Total assets less current liabilities 29,901 32,790
Creditors: amounts falling due
after more than one year
Deferred Income (1,464) (2,349)
Provisions for liabilities
Unfundedpensions
14		 (69) (86)
Net assets
17		 28,368 30,355
Funds
Restricted
15		 179 167
Unrestricted 27,189 30,188
Total funds
17		 28,368 30,355

Approved and signed for issue by the Board of Directors on and signed on its behalf: 19/06/2026

Phili Youn p g

Philip Young (Director)

Nadeem Boghani (Director)

The notes on pages 20 to 33 form part of these financial statements

Page 18

ST HELEN’S SCHOOL, NORTHWOOD STATEMENT OF CASH FLOWS

AS AT 31 AUGUST 2025

Note
2025
£’000
£’000
Net cash (outflow)/inflow from
operations:
Net cash (used in)/provided by
operating activities
(i)
(3,117)
Cash flow from investing activities:
Purchase of tangible fixed assets
(232)
Income from bank & other investments
343
Net cash provided by/(used in)
investing activities
111
Change in cash and cash equivalents in
the reporting period
(3,006)
Cash and cash equivalents at beginning
of period
6,960
Cash and cash equivalents at the end of
the reporting period
3,954
(i) Reconciliation of net income to net cash flow from operating activities
2025
£’000
£’000
Net incoming resources
(1,980)
Elimination of non-operating cash flows:
Investments Income
(343)
Depreciation charge
1,155
(Decrease) in debtors
(1,645)
Loss on disposal of fixed assets
-
Increase/(decrease) in creditors
(excluding fees in advance scheme and
deposit)
1,445
Pension Scheme revaluation
(17)
(Decrease)/Increase in fees in advance
scheme creditors
(1,754)
Increase in parents’ deposits
22
(1,137)
Net cash (outflow)/inflow from
operations
(3,117)
Analysis of cash & cash equivalents
2025
£'000
Cash at bank
3,954
3,954		 Note
2025
£’000
£’000
Net cash (outflow)/inflow from
operations:
Net cash (used in)/provided by
operating activities
(i)
(3,117)
Cash flow from investing activities:
Purchase of tangible fixed assets
(232)
Income from bank & other investments
343
Net cash provided by/(used in)
investing activities
111
Change in cash and cash equivalents in
the reporting period
(3,006)
Cash and cash equivalents at beginning
of period
6,960
Cash and cash equivalents at the end of
the reporting period
3,954
(i) Reconciliation of net income to net cash flow from operating activities
2025
£’000
£’000
Net incoming resources
(1,980)
Elimination of non-operating cash flows:
Investments Income
(343)
Depreciation charge
1,155
(Decrease) in debtors
(1,645)
Loss on disposal of fixed assets
-
Increase/(decrease) in creditors
(excluding fees in advance scheme and
deposit)
1,445
Pension Scheme revaluation
(17)
(Decrease)/Increase in fees in advance
scheme creditors
(1,754)
Increase in parents’ deposits
22
(1,137)
Net cash (outflow)/inflow from
operations
(3,117)
Analysis of cash & cash equivalents
2025
£'000
Cash at bank
3,954
3,954		 2024
£’000
£’000
5,350
(2,070)
229
(1,841)
3,509
3,451
6,960
2024

£’000
£’000

1,548
(229)
1,083
(312)
281
(380)
(2)
844
210
3,802
5,350

2024

£'000

6,960

6,960		 2024
£’000
£’000
5,350
(2,070)
229
(1,841)
3,509
3,451
6,960
2024

£’000
£’000

1,548
(229)
1,083
(312)
281
(380)
(2)
844
210
3,802
5,350

2024

£'000

6,960

6,960
(3,117) 5,350
2025
£'000
3,954		 2024
£'000
6,960
3,954 6,960

Page 19

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

The company is a private limited company incorporated in the England and Wales (registered no. 00420867) and operates from its registered office in Eastbury Road, Northwood, Middlesex. HA6 3AS

1 ACCOUNTING POLICIES

(a) Accounting convention

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Second Edition.

The functional currency of the School is considered to be GBP because that is the currency of the primary economic environment in which the School operates.

The accounts are drawn up on the historical cost basis of accounting, as modified by the revaluation of investment properties and other investments.

The School has taken advantage of the exemption available to a qualifying entity in FRS 102 from the requirement to present a charity only Cash Flow Statement with the consolidated financial Statements.

The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee. It was incorporated on 04 October 1946 (company number: 00420867) and registered as a charity on 21 March 1963 (charity number: 312762).

The School has taken advantage of the exemption under section 408 of the Companies Act 2006 not to publish its own income and expenditure account.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

(b) Going Concern

Having reviewed the funding facilities available to the School together with the expected ongoing demand for places and the School’s future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the School’s financial viability. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

(c) Consolidation

The consolidated financial statements consolidate the financial statements of the School and its wholly owned subsidiary, St. Helen’s Enterprises Limited, company number 02834608. No separate Statement of Financial Activities (SOFA) has been presented for the charity alone, as permitted by Section 408 of the Companies Act 2006.

Page 20

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

(d) Fees receivable and similar income

Fees receivable and charges for the use of premises are accounted for in the period in which the service is provided. Fees receivables are stated after deducting allowances, bursaries, scholarships and other remissions granted by the school from its unrestricted funds.

Fees received in advance of the academic year to which they relate are treated as creditors and released in the year to which they relate.

Donations are accounted for when the School knows with probability that the funds will be received. Donations received for the general purpose of the School are credited to unrestricted funds. Donations subject to the specific wishes of the donor are credited to the relevant restricted fund. Where donations are received otherwise than in cash, they are valued at the market value of the underlying assets received at the date of receipt.

(e) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs allocated to that category. All expenditure is stated gross of irrecoverable VAT. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs comprise general management, governance, accounting and financing. Governance costs are the costs associated with the general running of the charitable company as opposed to those costs associated with fundraising or charitable activity. Included within this category are costs associated with the strategic as opposed to day-to-day management of the charitable company’s activities. The remainder of the support costs are shown as support costs of schooling.

(f) Bursaries

Bursaries funds are provided for and included in expenditure for the period to 31 August 2025 as they are subject to review at the end of that period.

(g) Operating leases

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

(h) Fixed assets and depreciation

Depreciation is provided on fixed assets in use except freehold land, at rates designed to write off their cost less anticipated residual value over the period of their estimated useful lives. The rates used are:

Freehold buildings - 2% of cost

Temporary buildings - 20% of cost

Fixtures, fittings and equipment - 10% of cost Computer and pool equipment - 33 1/3% of cost

Motor vehicles - 25% of cost

Gym Equipment - 20% of cost

Acquisition of equipment for educational purposes is written off to education costs in the year of purchase. Assets in construction are capitalised but not depreciated until brought into use. Significant building improvements, fixtures, fittings and equipment are capitalised and carried in the balance sheet at historical cost. Items costing less than £2,000 are written off in the year of purchase unless undertaken as a project in which case the whole amount is capitalised.

Page 21

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2025

(i) Pension schemes

The School contributes to the Teachers’ Superannuation Scheme at rates 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-teaching staff. The contributions charged to the income and expenditure account in respect of both schemes are those payable in accordance with the rules of the schemes.

The School has unfunded pension commitments to former employees. Provisions 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 assumed that the annual payments would increase at the rate of increase in the retail prices index each year. A discount factor equivalent to the yield on long dated AA rated corporate bonds was used to calculate the cost of capital.

(j) Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

(k) Funds

Funds held by the charity are:

Unrestricted funds are funds which can be used in accordance with the School’s objects, at the discretion of the directors.

Restricted funds are funds that can be used for particular restricted purposes, within the objects of the School. Restrictions arise when specified by the donor.

2 STATUS AND MEMBERS

The company is limited by guarantee, and therefore does not have a share capital. Each member has agreed that, in the event of the company being wound up, he or she will contribute to the assets a sum not exceeding one pound. Control of the company is vested in the Council of Governors.

Page 22

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2025

3 Trading Activities

The School owns 100% of the issued share capital of St Helen's School Enterprises Limited. The principal activity of the company is to generate income for the use of the School in support of the School's educational objectives.

During the year the inter-company transactions between the School and Enterprises amounted to £386,513 (2024: £327,216) excluding the gift aid. During the year, Enterprises paid the School £327,516 (2024: £327,216) in relation to a service charge and £60,000 (2024: £60,000) in relation to a license fee. In addition, a gift aid payment of £340,992 (2024: £305,800) was made in relation to the 2025 taxable surplus.

The company donates its taxable profits to the School each year under the Gift Aid Scheme. Its trading results extracted from its audited accounts were:

Turnover
Cost of sales
Gross profit
Administrative expenses
Net profit
Interest
Donation under gift aid
Retained profit
Current Assets
CREDITORS: amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CAPITAL AND RESERVES
Called up share capital
Retained earnings
SHAREHOLDER’S FUNDS		 2025
2024
£
£
1,084
1,068
(648)
(637)
436
431
(101)
(136)
335
295
6
11
(341)
(306)
-
-
226
484
(218)
(476)
8
8
8
8
-
-
8
8
8
8

Page 23

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

4 Fees receivable

Tuition
Less
Scholarships
Bursaries
The total number of pupils in receipt of:
Scholarships and forces discount
Bursaries

Ancillary & Other Income
Other educational income
Registration fees/fees in lieu of notice
Other ancillary income
Rent receivable
Other		 Consolidated and School
2025
2024
£'000
£'000
23,203
25,942
23,203
25,942
(953)
(616)
(1,381)
(1,452)
20,869
23,874
Number
Number
158
144
64
78
Consolidated and School
2025
2024
£'000
£'000
302
198
302
198
£'000
£'000
51
49
130
128
181
177

5 Ancillary & Other Income

Teaching Costs
Welfare Costs
Premises Costs
Supports Costs
Refunded Donations		 Dep'n
Total
Total
Staff
Other
2025
2024
£'000
£'000
£'000
£'000
£'000
13,654
785
-
14,439
13,558
409
1,560
-
1,969
1,892
780
1,537
1,155
3,472
3,223
3,085
1,808
-
4,893
5,221
-
-
-
-
110
17,928
5,690
1,155
24,773
24,004

Included in Support Costs Audit fees - current year 34 39

During the year £621 was reimbursed to governors (2024 - £1,314) were paid on behalf of the governors.

Expenditure includes £361,446 non-ancillary trading costs relating to St Helen’s Enterprises.

Page 24

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

Teaching Costs
Welfare Costs
Premises Costs
Supports Costs
Refunded Donations		 Dep'n
Total
Total
Staff
Other
2024
2023
£'000
£'000
£'000
£'000
£'000
12,743
815
-
13,558
12,358
354
1,538
-
1,892
1,751
736
1,407
1,080
3,223
3,570
2,975
2,246
-
5,221
4,280
-
110
-
110
-
16,808
6,116
1,080
24,004
21,959

Included in Support Costs Audit fees - current year 39 34

7 Staff Information

Wages and salaries
Social security costs
Other pension costs
Agency staff		 2025
2024
£'000
£'000
13,528
12,725
1,457
1,269
2,763
2,373
17,748
16,367
180
441
17,928
16,808
The number of persons employed during the year was:
Teaching staff
Non-teaching staff		 2025
2024
Number
Number
178
183
180
185
358
368

No emoluments were paid to the directors of the school.

2025 2024
The number of employees whose emoluments exceeded £60,000 was: Number Number
£60,001 - £70,000 33 23
£70,001 - £80,000 14 14
£80,001 - £90,000 8 4
£90,001 - £100,000 4 2
£100,001 - £110,000 2 2
£110,001 - £120,000 - -
£130,001 - £140,000 - 1
£160,001 - £170,000 1 1

Page 25

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

Contributions of £1.15m were made to the Teachers' Superannuation Scheme for 55 (2024 - £771,569 for 41) higher paid employees and contributions amounting to £53,336 were made to a defined contribution scheme for 7 (2024 - £52,508 for 6) higher paid employees.

2025 2024
£'000 £'000
Aggregate employee remuneration of key management personnel 1,497 1,492
Number of employees 14 13

Redundancy and termination payments of £128,002 were paid during the year (2024 - £106,908). There were no amounts outstanding to be paid at the year end.

Page 26

ST HELEN’S SCHOOL, NORTHWOOD

NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

8. Tangible Fixed Assets

The cost of freehold land and buildings includes £51,047 relating to land (2024: £51,047) which is not depreciated

Page 27

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2025

9 Subsidiary undertakings

The school has a subsidiary company. St Helen’s Enterprises Limited, which is wholly owned and incorporated in England and Wales, company number 02834608. The principal activity of St Helen’s Enterprises Limited is to generate trading income for the School.

10 Debtors due within one year

Due within one year
Trade debtors
Amounts owed by subsidiary
undertaking
Other Debtors
Prepayments & accrued income		 Consolidated
School
Total
Total
Total
Total
2025
2024
2025
2024
£'000
£'000
£'000
£'000
9,801
313
9,678
298
-
-
- 308
207
- 207
-
516
558
508
553
10,524
871 10,393 1,159

Debtors due after 1 year

Other Debtors

Consolidated Consolidated School
Total Total Total Total
2025 2024 2025 2024
£'000 £'000 £'000 £'000
1,022 -
1,022		 -
1,022 - 1,022 -

Other debtors includes £1.2m (2024:nil) which relates to accrued VAT recoverable via the Capital Goods Scheme in future years. £0.2m is receivable within one year, and £1m is receivable in more than one year.

11 Cash at bank and in hand

Cash at bank and in hand
Current accounts
Cash in hand		 Consolidated
School
Total
Total
Total
Total
2025
2024
2025
2024
£’000
£’000
£’000
£’000
3,953
6,959
3,904
6,495
1
1
1
1
3,954
6,960
3,905
6,496

12 Creditors due within 1 year

2
Creditors due within 1 year
Consolidated School
Total Total Total Total
2025 2024 2025 2024
£'000 £'000 £'000 £'000
Trade creditors 547 294 540 283

Page 28

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

Fees in advance
Deferred income - fees received for the 2026 academic year
Fee deposits
Taxation & social security costs
Other creditors
Amounts owed to subsidiary undertaking
Accruals		 1,200 2,069 1,200 2,069
8,413
613 8,228
489
1,592 1,570 1,592 1,570
1,804
309 1,800
304
600
656
600
656
-
-
46
-
240
485
221
451
14,396 5,996 14,227 5,824

Creditors due greater than 1 year

Other Creditors
Fee In Advance Scheme
13
Advance fee payment
At 1 September 2024
Released in year
Cash received in advance
At 31 August 2025
At 1 September 2023
Released in year
Cash received in advance
At 31 August 2024		 Consolidated
School
Total
Total
Total
Total
2025
2024
2025
2024
£'000
£'000
£'000
£'000
42
-
42
-
1,422 2,349
1,422 2,349		 Consolidated
School
Total
Total
Total
Total
2025
2024
2025
2024
£'000
£'000
£'000
£'000
42
-
42
-
1,422 2,349
1,422 2,349
1,464 2,349 1,464 2,349
Consolidated
School
£'000
£'000
4,989
4,865
(4,989)
(4,865)
2,622
3,049
2,622
3,049
Consolidated
School
£'000
£'000
1,838
1,648
(1,838)
(1,648)
4,989
4,376
4,989
4,865
14
Unfunded Pension Schemes
Consolidated and School
2025 2024
£'000 £'000
At 1 September 86 84
Paid during the year 24 25
Decrease in provision (39) (21)
Re-valuation (2) (2)
At 31 August 69 86
15
Restricted Funds
1 Sept 31 Aug
Movement in year 2024 Incoming Outgoing
Transfer		 2025
£'000 £'000 £'000 £'000 £'000
Page 29

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

Bursaries Fund
Student Enrichment Fund
Capital Fund
Prize Fund
Donations
Movement in year
Bursaries Fund
Student Enrichment Fund
Capital Fund
Prize Fund
Donations		 52
1
-
-
53
1
-
-
-
1
107
2
-
-
109
7
-
-
-
7
-
9
-
-
9
167
12
-
-
179
1 Sept
31 Aug
2023
Incoming
Outgoing
Transfer
2024
£'000
£'000
£'000
£'000
£'000
52
-
-
-
52
1
-
-
-
1
104
3
-
-
107
7
-
-
-
7
139
-
(110)
(29)
-
303
3
(110)
(29)
167

Prize funds represent donations received over a significant period where the donor specified that the income was to fund a prize.

16 Designated Funds

Designated Funds
1 Sept 31 Aug
2024 Incoming Outgoing Transfer 2025
£'000 £'000 £'000 £'000 £'000
Development Fund 38 - - - 38

Development fund is to make provision for the development of the school estates.

1 Sept 31 Aug
2023 Incoming Outgoing Transfer 2024
£'000 £'000 £'000 £'000 £'000
Development Fund 38 - - - 38

17 Analysis of net assets between funds

Consolidated funds at 31 August 2025 are
represented by
Tangible Fixed Assets
Debtors due after more than one year
Net current assets/(liabilities)
Creditors due after more than one year
Provision for liabilities		 Restricted
Funds
Unrestricted
Funds
Total Funds
£'000
£'000
£'000
-
28,808
28,808
-
1,022
1,022
179
(97)
82
-
(1,464)
(1,464)
-
(69)
(69)
179
28,200
28,379

School funds at 31 August 2025 are

Page 30

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

represented by
Tangible Fixed Assets
Debtors due after more than one year
Net current assets/(liabilities)
Creditors due after more than one year
Provision for liabilities		 -
28.808
28,808
-
1,022
1,022
179
(108)
71
-
(1,464)
(1,464)
-
(69)
(69)
179
28.189
28,368
Consolidated funds at 31 August 2024 are
represented by
Tangible Fixed Assets
Net current assets/(liabilities)
Creditors due after more than one year
Provision for liabilities
School funds at 31 August 2024 are
represented by
Tangible Fixed Assets
Net current assets/(liabilities)
Creditors due after more than one year
Provision for liabilities		 Restricted
Funds
Unrestricted
Funds Total Funds
£'000
£'000
£'000
-
30,959
30,959
167
1,668
1,835
-
(2,349)
(2,349)
-
(86)
(86)
167
30,192
30,359
-
30,959
30,959
167
1,664
1,831
-
(2,349)
(2,349)
-
(86)
(86)
167
30,188
30,355

18 Capital commitments

The school has no capital commitments for the year end 2025. (2024:Nil)

19 Taxation

No liability to United Kingdom taxation arises by virtue of the charitable status of the School. Profits arising in St. Helen's Enterprises Limited are gifted to the School.

20 Pension Schemes

The School operates two pension schemes which cover the majority of its employees. The assets of the schemes are held separately from those of the school, being invested with either the state or insurance companies, and are independently administered. During the year the school partially withdrew from the TPS, closing it to new members of academic staff. The School now also operates a defined contribution scheme through APTIS.

(a). The pension charge for the year includes contributions to the TPS and APTIS of £2,239,363 (2024: £1,881,505) and at the year-end £271,239 (2024: £231,563) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the

Page 31

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS AS AT 31 AUGUST 2025

Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020. The Valuation Report, was published in October 2023.

Following the McCloud judgment, the remedy proposed that when benefits become payable, eligible members can elect to receive them from either the reformed or legacy schemes 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 benefits, and in preparing the 2020 valuation have valued the 'greater value' benefits for groups of relevant members.

The valuation confirmed that the employer contribution rate for the TPS would increase from 23.6% to 28.6% from 1 April 2024. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

21 Related Party Transactions

All Governors are required to complete an annual return recording organisations with which they are involved and where there could be potential conflicts of interest. All such transactions are at arm’s length and on standard commercial terms.

One Governor has two daughters at the School on full fees (without any remission).

Page 32

ST HELEN’S SCHOOL, NORTHWOOD NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2025

22 COMPARATIVE NOTES TO THE FINANCIAL STATEMENTS

Statement of Financial Activities

Restricted
Unrestricted
Total
Total
2024
2024
2024
2023
£'000
£'000
£'000
£'000
-
23,874
23,874
22,638
-
375
375
244
-
1,069
1,069
1,070
-
229
229
141
3
-
3
5
3
25,547
25,550
24,098
-
386
386
350
-
386
386
350
-
23,508
23,508
21,609
110
110
-
110
23,894
24,004
21,959
(107)
1,653
1,546
2,139
--
2
2
15
(107)
1,655
1,548
2,154
Notes
Income from
Charitable activities
Fees Receivable
4
Ancillary & Other Income
5
Other trading activities
Non-Ancillary Trading Income
3
Investments
Bank and other investments
Voluntary Sources
Donations
Total incoming resources
Expenditure on:
Raising funds
Non-ancillarytrading
Charitable activities
Education
Refunded Donations
Total expenditure
6
Net income
Gain on unfundedpension
Net movement in funds for the
year
Transfer of funds (29)
26
(3)
-
303
28,511
28,814
26,660
167
30,192
30,359
28,814
Total funds brought forward
Total funds carried forward
17

Page 33