HIGHGATE HIGHGATE SCHOOL GOVERNORS. ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 Haysmac LLP Chartered Accountants Registered Auditors HIGHGATE SCHOOL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 CONTENTS PAGE Governors, Report Chairman's Foreword Main Report 1-22 2-22 Statement of Governors, Responsibilities 22-23 Independent Auditors, Report 24-25 Statement of Financial Activities 26 Balance sheet 27 Cash Flow Statement 28 Statement of Accounting Policies 29-33 Note$ to the Accounts 34-48 HIGHGATE SCHOOL CHAIRMAN'S FOREWORD FOR THE YEAR ENDED 31 JULY 2024 CHAIRMAN'S FOREWORD It gives me great pleasure to present Highgace School's report and accounts for the year ending 31 July 2024. If the 2022-23 Development Plan focused, among other things, on promoting pupils, feelings of belonging through active engagement in decision-making, the Plan for 2023-24 pivoted more tO￿drds engaging parents. This had begun at the end of 2022-23 with the Listening Exercise I referred to last year, and was given impetus by the then likely, and now certain. addition of VAT to school fees. To that end. a new Parents Forum has been enormously helpful in gauging parental views and helping us judge the nature and tone of communication on these and other issues. including our very considerable public benefit work. the annual fee increase and our stance on mobile phones. VAT, and its Potential impact on our abiliry to fund our charitable accivities in their cUr￿nt form, in particular. our partnership with the state sixth form, the London Academy of Excellence Tottenham (LAEf), has also been the subjett of considerable communication with MPS local to us and LAEf. Against the new VAT policy. we continue to review the most appropriate way to enable this parcnership. a key part of our charitable endeavour, to continue for the benefit of pupils in the east of our borough. At its hear¢ however, like any school, Highgatr is most focused on its pupils (and a positive Inspettion Report post year-end provides external confirmation of our successes with this). l am delighted to report that pupils have continued to thrive academically (pages 4-5 has the details) but also as a community. In addition, we have continued to work towards empowering pupils to positively manage their own wellbeing and empower parents and staff to understand and promote young people's management of their own wellbeing. Our continued work on inclusion and diversity is paying dividends. with active affinity and equaliry groups meeting regularly to discuss issues of particular interest. the welcome continuation of Bystander Training, and highly engaged Pupil Accion Committees. A dedicated group of pupils continued to spearhead our sustainability drive through initiatives such a5 Clean Air Week and Fast Fashion Free February, the latter now spreading to a number of other schools. Work to secure planning permission for various projects co upgrade and modernise the school continued, including, in the summer term, detailed meetings with a range of communiry stakeholders. These will carry on into 2024-25 as we seek to explain our rauonale and explore opporcunities to work together with our local residents to achieve outcomes suitable for all. The School also continued to investigate commercial opportunities at home and abroad, seeking to maximise non-fee income at a time when many costs are increasing; once again our financial results were significantly strengthened from the higher interest rates achieved on the remaining private placement funds, drawn to fund the capital programme, and donations received in year. I would like to finish by thanking the staff and pupils for their efforL enthusiasm and commitment in another terrific year, and my fellow governors for the supporc and construttive challenge they provide. Bob Rothenberg MBE HIGHGATE SCHOOL GOVERNORS, REPORT FOR THE YEAR ENDED 31 JULY 2024 CHARITABLE OBJECTS Our charitable objects are set out in the Scheme of Governan￿ as: ( l) the advancement of education by the provision of a school in or near Highgate, the provision of incidental or ancillary educational activities, and the undertaking of associated activities for the benefit of the public,. and (2) in so far as the Governors think fit (and so long as they, in their discretion, consider that the object stated in clause l is being properly provided for) the relief of the poor. These objects have been achieved in-year as set out in the 'Objectives as a School 2023-24, and 'Other Charitable Objectives 2023-24,. OBJECTIVES AS A SCHOOL 2023-24 The School was in its fourth year of its 2020-25 development plan. Within this plan, the School's Vision Statement is stated as: 'In what we plan to do, what we attually do and how we measure our success, our pupils are our starting point: what they experience as children and young adults, what they become and the lives they are able and inspired to lead. So, let us imagine our pupils as they leave us: We imagine a happy, cohesive community whose pupils, from many different backgrounds, have learnt to spect and value the experience which emerges from diversity and who have grown up in a school which has taken nothing for grantrd and has cleared the v￿Y for all children, whatever their prior experience, to feel welcome and to thrive. They will enjoy life to the full and value their friendships. Open-minded and alert to opportunity, they will leave us for places on competitive courses in a wide range of universities in the UK and around the world, with the ambition. motivation, skills and staying power to equip them to study independentjy and with succes5. In their academic learning as well as in their lives beyond the classroom they will have developed 'soft' skills along with qualities of self-awareness, resilience and self.confidence. They will have developed their emotional and mental as well as their physical health and will have insight into ways of preventing and getting help for ill health, without fear or shame. They will do voluntary work, work experience and internships and will be adept at matching their skills and attributes against possibilities ahead. They will have worked in partnership with young people in other schools and broken out of any school bubble. The way they have journeyed to their exams, and the understanding that remains Wlth them thereafter, will be as important as their grades. They will be creative, rigorous and eager thinkers and readers who have pursued learning for its own sake. They will have had a tas￿ of competition and of the energising effecc of entrepreneurship; they will be well informed about ways of living and working sustainably. They will have a range of hobbies and interests in which they will have participated with enjoyment and commitment. In these, and through service to others, they will have grown as individuals who can lead and can serve. They will be thoughtful and open-minded, conscious of the advantages they have enjoyed and of the choices and obligations such advantage should bring." The School's strategic aims and attions for the whole school are stated as: Inclusion: Ensuring people from minoritised and marginalised communities are championed, centred, and celebrated; and informing best EDI practice. Staff Wellbeing: Embedding the wellbeing stratsgy and vision: A culture of care, for ourselves and others, where all our staff feel valued, supported and energized. Analysing the Welbee Staff Wellbeing Survey and incorporating relevant actions into the 5 existing wellbeing workstreams: Mental and Physical Health; Development and Learning; Communiry," Support SyS￿M$. Working Environment HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 OBJECTIVES AS A SCHOOL 2023-24 (continued) Environmental Sustainability: Continuing to Enatt our environmental sustainability plan, develop our decarbonisation plan and work cowards Net Zero. Equipping staff and pupils with greatrr knowledge and understanding of environmental issues to work towards a more sustainable future. Engaging with relevant stakeholders in relation to core issues e.g. Travel to School. Educational Visits, Food, Buildings. Community partnerships: Continuing the delivery of our Chrysalis partnership teaching and summer school programme in support of the students. staff and schools in our Chrysalis network. Providing an annual programme of opporcunities for Highgate staff, pupils and community, to volunteer their time and donate money and goods to communities of need and charitable causes through our 'A Connected Community. initiative. Continuing local community partnerships to meet the needs of young people and lesser privileged Ioc21 communicies. Continuing support to London Academy of Excellence Tottenham (LAET) through the cohort of seconded teachers. shared staff training and developmenL and support for enriched student and school partnership opportunities. Income generation to support our charitable objectives: Considering commercial opportunities at home and abroad: investigating regions around the globe and seeking projects and Par￿erShipS wtth established commercial providers looking for elite school partners. Maximi5ing commercial income using current school assets. Driving fLsnd-raising efforts: ￿stIng opportunities for fundraising within our CapEx projects; researching opportunities for sponsorship of partnership projects. Improving and renewing facilities: Concinuing our engagement with neighbours and local amenity groups in the planning application process in furtherance of our estates Stra￿gy. Providing opportunities for key groups, such as parents and carers, to understand the timeline for future works. parcicularly those involving temporary facilities. Recovery and investment: Responding to concerns, anxiety and queries about fee levels, including the withdrawal of our VAT exemption. Formalising and developing channels of communication between families and the School. Within our Pre-Preparatory School (Reception and Years 1-2), the overview of objettives for 2023-24 is: To review and evolve the rigorous yet exploratory and child-led curriculum that ignites curiosiry and motivates children to embark on a lifetime of learning. To promote a sustainable footprint within the Pre-Preparatory School. To ensure a sense of belonging for all pupils, staff and families. To continue to develop the Pre-Preparatory School's role in sustaining scrong and valuable Community Partnerships. To promote wellbeing of all members of the Pre-Preparatory School community. Within our Junior School (Years 3-6), the overview of objectives for 2023-24 is: To review and evolve the Junior School Curriculum to ensure that it remains innovative, rigorous and forward-thinking, reflecting the wider school aims around diversiry and inclusion, sustainabiliry and the development of core charatter skills. To review 2nd evolve Staff Management and Professional Development to support sraff to have greater ownership of their teaching prattices. professional and personal development and wider career aims. To ensure that the Junior School is successful in working with the Pre-Preparatory School and the Senior School in maintaining the high academic outcome5 of pupils as the intake increases at lower entry points within the school. To continue to evolve and develop the Junior School's contribution to community partnership, bursaries and chariry initiatives through increasing the provision and impart on a wider group of beneficiaries. HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 OBJECTIVES AS A SCHOOL 2023-24 (continued) Within our Senior School (Years 7-13), the overview of objectives for 2023-24 is: To encourage a culture of reading. To consider the needs and profiles of all pupils with a specific focus on neurodiversity. To continue to train and supporc staff to deliver effective, proactive pastoral care that keeps safeguarding at its heart and tsrgets the specific needs of individual pupils. To further empower pupils to positively manage their own wellbein& including seeking help where needed, and empower parents and staff to understand and promote young people's management of their own wellbeing. To promote belonging at Highgate and to focus on inclusivity and embedding attive anti-discrimination by working in partnership with parents, staff and pupils to build a culture of kindness. respect and inclusion in which all members of the community are encouraged to build positive relationships. To continue to develop pupils, sense of purpose by actively engaging with their school community, shaping its culture and prattice, and by contributing fully to the co-curricular programme. ACTIVITIES OF THE SCHOOL Academic Pre•Preparatory School. In September 2023, we welcomed 60 children into Reception, marking the completion of our expansion to a three-form entry with the addition of a third class in Year 2. With the increased number of children transitioning from the Pre-Preparatory School to the Junior School, we have strengthened further our links with Junior School colleagues. Leadership teams now meet regularly to share insights on curriculum development. teaching methods, and assessment strategies, ensuring a more seamless and unified educational experience as children move through the school. With the introduttion of our revised curriculum, our children continue to thrive by engaging in purposeful projects thac culminate in dynamic outcomes. such as performances. debates, exhibitions, and charitable initiatives. The curriculum remains a reflection of the school's core values, placing sustainability, community, inclusion, and diversity at the forefront. These projects are thoughtfully designed to incorporate both a'windows" perspectiVtr- offering students a broader understanding of the world-and a "mirrors" perspective, enabling children to s themselves refletted in their learning, ensuring that their identities, backgrounds, and experiences are valued and represented. In January, we introduced a new phonics scheme, Monster Phonics. to support teaching and learning. Baseline assessments in Reception had revealed a wider range of attainment among children upon entering the Pre- Preparatory School, largely due to the addition of a third class in Reception and the closure of our nursery. This scheme was implemented to better support the varying needs of our children in this area. Junlor School. Over the past year, the Junior School conducted an in-depth subject audit to facilitate work on developing a curriculum that continues to be innovative, rigorous, forward-thinking, and aligned with wider school aims. The outcome has resulted in a focus on creating more opportunities for cross-curricular approaches to learning and developing further opportunities to nurture creativity within the curriculum. This has included developing links btheen the Humanities and Art curriculum and the embedding of skills-based approaches across all subjects. New projects have been introduced for each year group, for example, a William Morris printing project to coincide with the study of Victorians in Year S. Additionally, all art projects now include some study of exemplar artists, with greater emphasis on diver51ty With celebrated female artists and those from minority ethnic backgrounds. In Year 6, pupils have been using a new graphic design platform for one of their projects, HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Academic {continued) incorporating Al in their work creating WWII propaganda posters while studying the topic in History. Several key initiatives have been undertaken to enhance the STEM curriculum in the Junior School. A new medium-term planning grid was introduced for all year groups in Maths, ensuring concinuity and a cohesive learning experience. Four DTE projects were redeveloped. including the integrntion of textiles into rwo of Ehem. A research projett into transferable skills identified a set of Essential Skills to be incorporated into the curriculum to further support our pupils. knowledge and self-awareness of how they learn. Senior School. Highgate pupils achieved excellent results in public examinations. 55.3Yo of grades at GCSE were Grade "9" 82.4% of grades were "918" and 94.8Yo of grades were "91817" These were record results. oucside Covid and mitigated years. A Level grades were similarly impressive: 40.810 of all grades were "A*l> 78.4Yo of all grades were "A*IA" and 95.71¢ of all grades were "A*/AIB" Although the proportion of top grades down on last year's record. the cumulative "A*IA" proportion was the second-be5t year on record, outside of Covid and mitigated year5, and the school had its shortest ever tail. 81 /• of applicants were acceptsd into their first-choice university and a furcher l O/• were accepted into their insurance choice university. 22 pupils matriculated at Oxbridge and 8 pupils took up places in North American universities. The reason for these excellent results remains, fundament211y. the school's ethos of teaching beyond exams and delaying practicing examination craft until it is absolutely necessary. Pupils expett to be pushed in class and embrnce the many opportunities for extension - both inside class and as part of formal academic enrichment. Planning lessons to account for the most and least able pupils, and for neurodiverse pupils, remains central to colleagues. teaching. as does ensuring all pupils receive bespoke feedback Thinking about differentiation and sharing best practice 15 a central theme in whole school Continued Professional Development and regularly features in departmental meetings. Colleagues, promotion of reading for pleasure was a whole school academic aim for 2023-24. Tangible improvements in examination results are not the point of the exercise and would be extremely hard to link back to pupils, changed reading habits. Instead, colleagues are committed to advocating for reading as a life-long 2nd richly rewarding hobby, which provide5 an alternative past-time for pupils whose wellbeing is adversely affected by too much Screen time and exposure to social media. Initiatives were various. within departments and across them; certainly, pupils are now firmly aware of our drive to promixe reading. and engagement with the various initiatives was good. We will continue to pursue this aim in 2024-25. Co-curricular The co-curricular life of all three schools has continued to form an integral part of pupils. educational experience. Almost every pupil. in every year group, has contributed to at least one co-curricular venture. nearly every member of ceaching staff. and an increasing number of support staff, have also SUppo￿d these activities. Pre-Preparatory School. The Pre-Preparatory School continues to offer a wide Trnge of optional clubs before, during and after the school day. These range from tennis, dance, Lego, gardening. Science, and drama. to name just a few. The children love attending these clubs and their suggestions feed into the offer for future terms. In addition, we offer wrap-around care from 0745 until the Start of each school day and from 1530-1800 in the evening on Mondays to Thursdays. which a￿ proving to be increasingly popular. Junior School. The Junior School's co-curricular offering is rich and varied with a wider range of clubs and acrivities to support pupils, in developing and exploring a range of interests and skills. There are around l 00 co- curricular clubs split into four categories. academic, creative. music and sports, including debating, graffiti. HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Co-curricular (continued) Junlor School (contlnued) playground design and ornithology club, to name justa few. In addition, our house system and community outreach programmes foster a sense of belonging and purpose both within the school community and further afield with pupils joining together to complete DTE challenges or perform in House Poetry as well as visits to Hammerson House Care Home or a partnership school on Broadwater Farm, Tottenham to share in cooking and reading activities with pupils there. Both Junior School Music and Sport and Exercise continue to go from strength to strength with pupils participating in a wider variety of musical ensembles and performances alongside sporrs fixtures and games. A number of pupils joined other Primary Schools to perform at Wembley Arena at Young Voices earlier this year and we have had particular success in gymnastics and judo this year with a range of pupils competing in and receiving medals in these sports. Senior School. The Co-curricular world continues to flourish in the Senior School: all pupils in Years 7-10 attend a timetabled co-curricular session and there is now a record number of clubs on offer with new ones emerging all the time e.g. Improvisation, Flag Football (a variant on American football) and Aquarium Building. Airfix Society has emerged most recently, but the long-standing Model United Nations (MUN) club has also gained traction after successful advertising by sixth formers at our Society Fairs. Pupils have enjoyed terrific success in national competitions in areas as diverse as MUN, debating, chess and Vex Robotics. Pupils of all ages continue to offer to run their own clubs and many of the older pupils take on specific leadership roles. The CCF has recently recruited pupils from Year 8 for the first time and the Duke of Edinburgh's Award Scheme (DofE) goes from strength to strength with approximately 250 attendees. Feedback from our Year 9 Co- Curricular Day, where pupils chose from a selection of one-off activities, showed that they gained much from the experience of being involved in pursuits such as fishing, climbing and kayaking, Dragon's Den, bike maintenance and street dance. Sport ond Exerclse (SpEx) Sport and Exercise is an integral part of a pupil's time at Highgate and we're proud to emphasise the significant impact it ha5 on their developmenL Our vision is focused on a pupil-centred approach, which aims to unlock every child's potential and build charactrr, by exposing them to opportunities that guide them towards sport pathways that they feel invested in. With 23 different sporting pathways on offer, both on and off-site, the SPEX team work with pupils to develop their confidence and competence. The refinement of the Exercise curriculum has supported a number of initiatives focused on pupils, health and wellbeing. The curriculum aims to develop pupils, knowledge and understanding of mental, emotional, social and physical wellbeing. delivered through a range of practical lessons and resources. We want our pupils to make informed decisions to improve their experiences of the positive aspects of healthy living and artivity, establishing a pattern of health and wellbeing that can be sustained into adult life, Our work on gender equality in co-education sport has continued, featuring in both local and national education media outlets. Pupil voice lies at the heart of our female health projec( and a dedicated group of pupil ambassadors have driven our efforts to promote betcer education and comfortable conversations around male and female health. SOCS Sporc has allowed us to track pupil attendance, and participation numbers have been at the highest ever. Over 950 pupils participatsd in competitive fixtures or tournaments during the 2023-24 academic year, across 14 HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED JI JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Co-curricular (continued) Sport and Exercise (SPEX) (continued) different sports. Recent success stories include: U12 Girls Football Team (Middlesex Cup Winners). U13 Football Team becoming Highgate's first ever national football champions by winning the ISFA Cup; Senior Girls Cross Country (3rd Place in National Schools. Cup). National Fives Champions at U14 and U15, as well as a 4th Place finish in the ESSA National Water Polo Finals for our U18 Girls team. Music The music deparcment enjoyed an exciting programme of concerts again in 2023-24. In addition co our escablished Calendar of solo platform, small and large ensemble, jazz and contemporary music concerts. this year we launched a number of new initiatives. Following the huge success of the inaugur21 Piano Day in 2022 which featured a solo recit21 of French piano repertoire by a Y12 pupil for their Extended Projett Qualification (EPQ). this year Piano Day Spawned a couple of offspring. Voc21 Day and Brass Day! Highlights of these days included workshops with internationally renowned trumpeter Imogen Whitehead and our Head of Vocal Studies, a cappella busking in Central Hall, flash mobs and a vibrant street-style massed brass performance on Senior Field. As usual the Highgate Young Musician of the Year competition for senior pupils VRS a celebration of our finest instrumentalists and this year we enjoyed the return ofjohn Rutter (OC) to Chair the Adjudication panel. In the Summer Term we hosted the 2nd Highgate Emerging Talent Festival aimed specifically to celebrate the musical talent that is developing in the lower school. Again, over 100 pupils performed in the festival which culminated in a prize winners. concert that was attended enthusiastically by parents and carers. In March we hosted our biennial Whole School Musical, Anything Goes. It via5 a stunning producuon. and it enjoyed a sell-out four show run at the Arts Depot in Finchley. Since Septsmber 2023 we have been delighted to supporE the new Music Department in our partner school. London Academy of Excellence Tottenham (LAEf). Two members of staff (Direttor of Music and Head of Academic 2nd Choral Music) have visited LA￿ every week to help mentor staff there and to lead ensembles, and as a result our links continue to grow deeper. New initiatives include greater academic sharing of resources involving a joint study and composition day and we continue to collaboratr instrumentally. Highlights included musicians from both schools performing together in a spettacular contemporary music concert at Jackson's Lane, a performance at the finals of the National Festival of Music for Youth in Birmingham, a joint Yl 2 Solo Placform Concert and solo performances in the Jazz gig at Pizza Express, Dean Stree( Soho. Our large ensemble schedule continues to flourish. and the Michaelmas Term culminaced in a fantastic concerr in the Junior School Hall under the imaginative title: Sounds Like Highgate. Repertoire was carefully selected to ambitiously 'tell the musical life of the school by the outstanding musical ensembles making it!, performed by our senior orchestras and choirs. In the Lent Term we curated a stunning large ensemble concert at Southwark Cathedral titled 'Heaven and Earth, Music for a Precious PlaneL In this concerc we explored music whose influence originates in the beauty and wonder of the natural world, and in what lies beyond. All of the music performed allowed us to Show how composers have used music to reflecr nature in the hope that this will bring our community together to understand what che natural environment means to us. and its importance. It Wds a thought provoking and uplifting evening of music and spoken word, featuring music by HolsL Jonathan Dove. Copland, Chopin, Vivaldi, Faure and even Han5 Zimmer. As ever the Summer Term highlight was a lighter affair. a big outdoor 'pop5' concert celebrating Music from Stsge and Screen. The instrumental music scheme ha5 continued to grow with more than 750 pupils, from across all three School5, involved in over 800 individual music lessons a week over 60 Visiting Music Teachers. HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Co-curricular (continued) Drama To kick start the year in style, pupils in Years 9-13 performed a darkly comic production of DNA by Dennis Kelly. Taking full advantage of the wonderful AV team, projected images were powerfully used to capture the themes of the play. House Drama was won this year by The Lodge in a very clever adaptation of a famous Friends episode. We were fortunate enough to have OC and critically acclaimed playwright Billie Esplen as our adjudicator. The hottest theacre ticket of the year was undoubtedly the musical, Anything Goes (as referred to in 'Music' section on page 7). A collaboration between music, drama and dance, this was a huge undertaking and saw pupils come together both on and off stage, to produce a stellar performance. Finally, we ran the now well established annual New Views playwrighting scheme in collaboration with the National Theatre. This year a pupil in Y13 short-listed, meaning her appositr play about child celebrity was performed as a rehearsed reading at the National Theatre itself. Careers and Employability The annual Careers Fair was an in-person event which was held on the same evening a5 the Higher Education Fair. The evening was well attended by pupils from Highgate, the London Academy of Excellence Totcenham {LAET) and several other partner schools. During the evening, pupils were able to meet with professionals from a rnnge of sectors and, over the course of the year, former pupils and parents supported careers events ranging from curriculum time alumni panel talks, Year 12 employability interviews and pupil Mentoring. The annual Year 10 Employability Day was also well supported by external contacts with the day having a strong focus on sustainability with pupils exploring"Green Careers" while reflecting on their own skills and personal interests. In addition, pupils continue to access one-to-one sessions with our Career5 and Employability Specialistfor support including help sourcing work experience, exploring Gap Year opportunities and making degree apprenticeship applications. Inclusion In 2023-24, a strategic inclusion lead was appointed and a long-term goal established: 'We are attively working to make Highgate School an inclusive community in which all members feel a true sense of belonging.. This was underscored by three foundational principles: (i) Strategy - working in a way that is data-driven, intentional and aligned, (li) Celebration - working to ensure that all identities - and especially underrepresented andlor marginalised ones - are celebrated and not only protected from discrimination, and (iii) Action working to address some of the r-commendations and priority areas through demonstrable actions, which included: Establishing a Strategic Inclusion committee, comprising 25+ leaders from all settions of the school, to meet termly to discuss plans, challenges and best practice. Running a wide range of DEI events, activitie5 and initiatives e.g. One World Week (Pre-Preparatory School). Culture Weeks Uunior and Senior Schools),. Black History Month; Neurodiversity week; International Women's Day,. Holocaust Memorial Day; PRIDE, and Ramadan, Addressing some core recommendations from the Flair Anti-Racism Survey (2022) e.g. providing online racial literacy training (Hemisphere) for pupils. delivering racial inclusion and anti-racism training for staff (including microaggression training from the African and Caribbean Education Network (ACEN)): accively supporting staff and pupil societies e.g. The South and East Asian Society. In addition, stsff also received trnining on autism, ADHD and neurodiversity. HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Inclusion (continued) Work continued on our Anti-sexism and Anti-sexual Violence (ASSV) plan. In the Senior School, the Feminist Society championed initiatives focused on gender inclusion and anti-sexi5m', Sixth Formers supported the delivery of the Attive Bystander programme in PSHE. pupils completed the second biennial ASSV survey. tackling mi50gyny remained a pastoral priority; Highgatr Her Way (previously In Her Shoes) continued to address the participation of females in sporcs and exercise. In terms of the diversificacion of the pupil and staff body. we ran an admissions event with ACEN for 60 Black Heritage families of prospective pupils (from 4+ to 16+) and the inaugural Joshua Dorgu scholar of Black heritage commenced 5iXth form study. All staff with senior recruitment responsibilities attended inclusive recruitment trnining with Diverse Educators. The academic life of the school remained a key source of DEI activiry with all deparcments delivering a rich and diverse curriculum. supplemented by a programme of clubs. societie5, tslks and author visits. A partnership with People Change Minds (a LGBTQ+ inclusion organizauon) provided guidance on supporting gender questioning pupils and delivered a workshop to pastornl leaders. With regards to the faith and belief life of the School, all pupils attended a weekly service of one of the following. Chapel, Jewish Circle, Non-denominarion Tabernacle and a newly formed Muslim Circle. The Pre-Preparatory School delivered a Spring festival programme celebrating a series of world faiths and belief groups. The School became a corporate member of Inclusive Employers which provide5 access to DEI related resources, toolkits and webinars. Staff from across the School attended training webinars e.g. Islamphobia. the menopause, Holocaust remembrance. Pre-Preparatory and Junior School leaders attended diversity in the curriculum training from Diverse Educators: pastoral leaders at￿nded ACEN'S anti-racism annual conference. pupil and staff leaders from Senior and Junior School attended identity-relxted anti-bullying avRreness training from Equally Safe. Pastoral and Pupil Wellbeing Pastoral Further to the developments in the pastoral team in the past three years, during this academic year. whilst the Depury Head (Pastoral) was on maternity leave. the (Atting) Depury Head (Pastoral) line managed the Head of PSHE, and the Directors of Safeguarding and Pupil Wellbeing were line managed by the Senior Deputy Heads. Regarding safeguarding, our focu5 has been on embedding further the culture of safeguarding across all three schools and amongst teaching and support staff. A new set of policies was published in September 2023 with the aim of simplifying and clarifying procedures. Evaluation and reflettion is fully embedded in safeguarding practice. with DSLS 2nd Governors participating in quarterly case audits. alongside the annual audit condutted by extrrnal experts. DSLS continued to access supervision through the Director of Safeguarding and, for the first ume this year, pastoral leaders were offered external supervision with an independent safeguarding experL The Director of Safeguarding continued to work across the three schools: this model facilitates working together and has enabled better support for families with children across the schools. The early intrrvention model has been well received by parents and carers and practices introduced last year have been furcher embedded, including the use of CPOMS Staffsafe, technology for recording Low Level Concerns. regular parent workshops. and the introduction of termly pupil and staff focus groups to evaluate attitudes to and understanding of different areas of safeguarding. In addition. relationships with Haringey Childrens Services have been firmly established, with the Assistant Direttor of Childrens Service involved in supporting the school with audits and reviews. and the Head HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Pastoral (continued) and Director of Safeguarding being part of the Haringey Childrens Safeguarding Partnership. Our continuing pastoral imperative more broadly is to train and support stsff to deliver effective, proactive pastoral care that keeps safeguarding at its heart and targets the specific needs of individual pupils. We are now in year o of our three-year training plan which focuses on building staff confidence in areas including affluent neglect, mental health, and domestic abuse, as well a5 ongoing training in understanding social 'graces' and unconscious bias. Training is delivered in multiple formats, including newsletters, optional CPD (Continuing Professional Development) workshops, and compulsory INSET (in-service training) sessions. Training has this year focused on: anti-bullying; positive behaviour management: online safety; substance misuse; domestic abuse,. parental chastisemenL Prevent and radicalisation. mental health (including low mood, bereavement, and self-harm): low level concerns. Moreover, we have continued to work towards empowering pupils to positively manage their own wellbeing and empower parents and staff to understand and promote young people's management of their own wellbeing. There are now three wellbeing practitioners, five counsellors, and two play therapists across all three schools with the counselling service offering CBT (Cognitive Behavioural Therapy), psychodynamic, integracive and art therapy. The development of the wellbeing team has allowed clearer distinction in supporting pupils, mentsl health or wellbeing needs. We have also continued to work on developing the relationships between the pastoral and wellbeing teams. This year saw us launch the Wellbeing Hub (to replace TeenTips): an online wellbeing hub with a range of resources for the parenL staff and pupil community. This supports the development plan of stronger parent education around mental health, developing pastoral stsff skill in triaging and signposting pupils to the appropriate support and de-stigmatising seeking mentsl health support amongst the pupil cohort. In addition, parents have been offered workshops on topics including mental health, nutrition. social media, consent. parcies and the law, alcoholism, substances, gaming, eacing disorders, online safety, exams and anxiety, and festival safety. These have been well attended and have been delivered by a combination of internal and external speakers. Several of the external speakers have also spoken to pupils. These speaker events have been coordinated by the Head of PSHE to ensure that parent education is forming part of our PSHE offering, and ensuring connected messages are given to pupils and parents. Pastoral work has continued to be strongly informed by our inclusion projects, with the overarching aim being to enable all members of the Highgate community to feel a strong sense of belonging. The introduction of a new Strategic Inclusion Lead has shifted the emphasis to embedding inclusion in all aspetts of everyone's work, with all staff encouraged to engage in CPD and make inclusion a key priority. For pupils, the focus was on anti-sexism and anti-racism, with all pupils in Years 9-13 completing the second iteration of the school's Anti-sexism and Anti- Sexual Violence (ASSV) survey, and all pupils across the Senior School completing Hemisphere anti-racism training. Pastoral staff have also engaged in training delivered by Equaliteach, whose Equally Safe programme seeks to empower school leaders to more successfully promote and understand equality, diversity and inclusion. 10 HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Pupil Wellbeing The Wellbeing Team work closely with the pastoral team to promote and facilitste a whole school approach to pupil wellbeing. The Direccor of Pupil Wellbeing met half termly with the Directors of Safeguarding, Inclusion and Pastoral to collaborate on strategy to promote pupils. best interests in each field. This team worked closely with the pupil Wellbeing Inclusion Safeguarding Committee, to ensure that pupil voice ran through discussions and decisions. The Wellbeing Hub was promotsd by House Captains to their respeccive pupil bodies and to parents, who accessed Webin2rs and articles relevant to their children. This supported the plan of building stronger links with parents when supporting the pupils. mental health, and encouraged pastoral staff to be proactive in their CPD. For example, the Director of Wellbeing signp0s￿d parcicularly relevant training courses to che pastoral team, so that they could prioritise ac£ending them. Two new Pupil Wellbeing Practitioners were appointed in the Lent term of 2024, expanding the Wellbeing ￿M'S capacity to support pupils. This followed the resignacion of one pupil wellbeing practitioner. bringing the total number to 3 (two full-time. one part time 0.6). This has allowed for more pupils to access support early in their wellbeing struggles. leading to escalation of mental health difficulties being less likely. It h25 also allowed the Pupil Wellbeing Prattitioners time to create and deliver material about supporting one's mental health to pupils in different settings. for example in tutor times and assemblies. This has led to the Wellbeing team having a higher profile in school, encouraging pupils to consider it a constant presence in their cime at Highgate, rather than as something to turn to only in times of significant need. The Direttor of Wellbeing worked closely with the Head of PSHE to inform and educate pupils about key mental health themes and to embed positive wellbeing strategies among the pupil communiry. This support5 the aim of developing agency. belonging and CoMpe￿nce among pupils. The Direttor of Pupil Vqellbeing also co-facilitated parent workshops on ment21 health with the Head of PSHE. In Easter of 2024, the Director of Wellbeing left and the Wellbeing department was overseen by the (Acring) Deputy Head (Pastoral) for one half term. From May 2024. a newly appointed Head of Pupil Health and Wellbeing began in posL working alongside the newly appointed part-time Clinical Mental Health Lead. The Head of Pupil Health and Wellbeing was appointed from pastoral teaching staff, with the aim of encouraging closer links between the pastoral and wellbeing teams. This supports the eth05 of a whole-school approach to mental health, with the rwo teams having already begun to work in a more efficient and collaborative manner. HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Staff Wellbeing We had two core areas of focus within our School Development Plan." to embed the Wellbeing Strategy and to analyse the results of the Welbee Staff Wellbeing Survey. In terms of staffing, we appointed an Acting People Director (Michaelmas term) and restructured the HR team. We reviewed and improved the suite of family policies e.g. staff from across the School contributed to a new framework and guidance documents (for the Maternity Leave Policy) which will be used as an exemplar moving forward. In terms of stsff engagemenL the Wellbeing Committee continued to meet half-termly to discuss and action the wellbeing strategy. From an economic wellbeing point of view. as part of the School's stratesy to improve the understanding of pensions and manage the increased employers, contributions associated with the Teachers, Pension Scheme, the School offered pension presentations and one-to-one educational sessions, provided by external advisors, in the Lent term. The following actions (not exhaustive) have helped progress the Wellbeing Development Plan: Mental ond Physical Health: Mental Health First Aiders continued to meet termly, run drop-in sessions and supporc national initiatives. nine more staff were trained in the two-day MHFA course Uune 2024). Support Staff have been accessing the employee health benefits {Help@Hand App) as part of their pension package. Staff involvement in weekly activities e.g. football, running, pilates, has been good and the Sports Centre has been used at the designated times. Learning und Development.. The first Support Staff specific INsFf training day Uanuary 2024) was well received. Various Staff wellbeing training has been delivered e.g. Organisational hack and stress management Uunior SchoollPre-Preparatory School),. Resilient Leaders Training (for the Pre-Preparatroy school Middle and Senior Leaders), and C-me Colour Profiling for specifically targeted departments. A review of whole staff training* learning and development is underway. Community.. Work on racial inclusion has been prioritised this year to develop a truer sense of belonging for all staff (see Inclusion section). specific Staff NetworkslAffinity groups are being developed (and included the launch of the first Menopause staff networking). In the Summer term, we ran whole staff training on EDIIMicroaggressions and introduced an inclusion reporting form. Other 5t3ff initiatives e.g. Art classes, language classes have proved popular. Support Systems." Stsff have access to numerous online resources including the Wellbeing Hub. The Staff Handbook has been reviewed and republished; the IT roll-out of Surface Pros has improved the experience for staff logging into the wifi: the Appraisal system has been updated e.g. for Assistant Heads. HR training updates have been provided to all staff highlighting changes to employment law (paternity rights, carers protection, enhanced redundancy protection.) New job advert boards have been introduced to attratt a more diverse pool of applicants. Working Environment.. There have been improvements to the staff spaces across the site including the new staff wellbeing space in Field House, breast-feeding/expres5ing spaces on the top and lower sits and the propagation of plants for communal areas and offices. Environmèntal Sustainability Progress continues in the three key areas identified in our School Development Plan this year: Enatting our Environmental Sustainability Plan: Educating Staff and Pupils about Environmental Issues; Engaging with Relevant Stakeholders in relation to core issues: Trnvel, Educational Visits, Food. In terms of the first area, we continue to prioritise the l 0 Strands of our Environmentsl Sustainability Plan (available on our website). Our report for the third phase of the Energy Saving Opportunities Scheme (ESOS 111) was completed in August 2024 and the recommendations are being reviewed for funding. Additional control upgrades HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 ACTIVITIES OF THE SCHOOL (continued) Environmental Sustainability (continued) on gas boilers have been made to reduce unnecessary use. and further progress has been made on LED conversion across the Estate as fluorescent fittings are phased OUL As in previous years, we took part in the No Mow May campaign and included more areas across the Estate to enhance the biodiversiry for as long as possible in che year. Close attention is being paid to developments in technology within heat pump energy as we prepare for end-of- life renewals of some older heating systems. Surveys are being carried out to ensu￿ that boilers that are no longer serviceable are replaced with green technology. An audit of the swimming pool systems has identified some plant modifications that can reduce the energy loading of the circulating pumps, which is being taken forward for completion by the end of 2024. Further changes to pool operating conditions and processes will reduce the levels of chemica15 required to operate the pool safely without compromising the hygiene conditions. In addition to the ESOS 511 submission, work has commenced on our ovm in-house Carbon Emissions Audit with a view to gathering broader b2seline data (from 2022-23) on a wider range of Scope l and 2 emissions (e.g. gas, elettriciry. travel tolfrom school, flights etc.). Our second objective (Environmental Education) has been addressed through the following training. All Staff INSET (Sept 2023); Carbon Literacy INS￿ for 198 staff drawn from the Support Staff Uan 2024) and the Pre-Prep and Junior Schools (May 2024); a Teaching Envimnmental Curriculum INSEf carousel in Jan 2024 for Senior School achers and staff from our parEner school, the London Academy of Excellence Tottenham (LAEf) Uan 24). and a Teaching and Learning Seminar (Feb 24). In July 2024, we ran our third London Schools Eco NeI￿ork Conference for staff from over 40 schoo15 (and other sectors). Further curricular review5 have been conducted to introduce more environment21 content e.g. KS3 cross-curricular projetts. Other educational initiatives have included: a very successful Mock COP (Dec 2023) with representacives from six local schools," 'Food' a55emblies (Dec 24)", a Y7 Wildlife Assembly Uan 24), and the establishment of a Wildlife Club for Y7&8 pupils. Financial Approval has been given to our Head of Environmental Sustainability to do regular seconded work for a new Environmental Education Hub (launched through the Ciry of London Corporation.) Finally, in terms of our third objettive, regular engagement with a range of stakeholders has taken place. We are currently going through a formal consultation process with our local community re: our capital projects planning submission and in June 2024, we had a full day dedicated to Environmental Sustainability at which talks were given by representatives from the School and other consultants e.g. ecologisL biodiversity experts. In September (2023). an Environmental Survey was sent to all staff (and completed by 53Y.). Key finding5 included: 7470 of staff felt either 'very or 'extremely concerned. about the environment with 93Yo Clting that the School was playing ics part to 'some' or 'a great, eX￿nt. In January (2024). Y I I pupils completed the Nacional Survey Uan 24) and key findings included the fact that 80Yo of are 'very or 'fairly concerned about climate change (compared to 62Y• of Y I I s nationally). The Educational Visits Policy has been updated with an Environmental strand and checklist aimed at reducing our emissions. The results from the Pupil Educational Visits Survey (SS) were analysed and discussed during tutor times (Sept 2024). we retained our TFL Gold Stars accreditation and ran a separate derailed in-house travel survey (which was completed by 74Y• of all pupils) to help calculate the C02 emissions from travel tolfrom school. Correspondence has continued wich Haringey Council about the potsntial for traffic control measure5 (e.g. cross hatchinglcameras) on North Road and Southwood Lane. In terms of 'Food', in addition to Meat Free Mondays (running for 8+ years), the catering department surveyed all sraff and pupils. launched the inaugural Plant Power Day Uan 2024), and published an online Highgate Plant Power Recipe Book. Red meat consumption ha5 been reduced by more than 50/0 in the past two years and more vegetarianlvegan food has been introduced (it now comprises nearly 50Yo of all dishes served.) A Food Waste Weighing Week Uan 24) was carried out by JS pupils and an attion plan is being developed to reduce waste (including the introduction of new portion options). The Eco Councils and Committees continue to be attive in all three schools and runltake parc in numerous successful initiatives. HIGHGATE SCHOOL GOVERNORS. REPORT {continued) FOR THE YEAR ENDED 31 JULY 2024 OTHER CHARITABLE OBJECTIVES 2023-24 In 2023-24, specific charitable objettives in addition to education remained as: To continue supporr across the three pillars of our case for support:: bursaries, partnerships and responding to emerging needs in our communiry. The latter includes responding to the cost-of-living crisis and support for those facing hardship. To continue to support the School's bursary provision to the Junior School to allow children to attend Highgate on means testrd fee assisted places from Year 3. These were in addition to our continuing objectives: To continue our commitment to supporL as the primary educational sponsor, London Academy of Excellence Tottenham {LAET), which provides an academically selective, well-governed sixth form free school in a local community where such opportunities are lacking. To enable teachers to give some of their time to local state schools in mutually beneficial ways, so that more children can have access to the excellent teaching and enriching activities that Highgate pupils enjoy every day and Highgate teachers develop professionally by tsaching different pupil cohorts. To avnrd a significant number of bursaries so that children for whom Highgate is the right school can access the excellent teaching and enriching activities that Highgats provides, when financially it would otherwise not be possible. To grow strong and sustained links with schools, charities and similar organisations within our School's local community. OTHER CHARITABLE ACTIVITIES Partnership Teaching and Summer School The Chrysalis deparcment welcomed a new annual cohort of four Chrysalis Teaching Fellows at the start of this academic year. The Fellows delivered projects and events across the Chrysalis Partnership Teaching portfolio including. providing academic support for pupils at LA￿,. running a primary debating club for partner school pupils; running a coding and computer club for LAET feeder schools, and; facilitating weekly projects and events across several academic subjects for partner school pupils and the Chrysalis Summer Schools. The team delivered the annual Chrysalis Mock University Interview programme for partner school pupils. This included coordinating over l 00 teaching staff from Highgate and LAET who interviewed over 250 pupils from 9 Chrysalis schools. All respondents to our feedback survey 'would recommend the Chrysalis Mock University Interviews to other pupils at their school, with 98Yo saying they felt more prepared for their real interviews. The Chrysalis portfolio grew to include a new series of webinars on applying co study Mathematics, Chemistry and related subjects at Oxbridge and other highly selective institutions. In addition, in Lent Term. over l 00 Year 12 pupils from 14 Chrysalis partner schools joined their peers from Highgate to listen to panels of undergraduates, former pupils of Chrysalis partner schools or OCS, tslk about their higher education academic experience. Participants were unanimous in their assessment of these events as having helped them to make a more informed decision on their choice of university and degree. Over 300 Chrysalis partner school pupils in Years 8-12 attended Mathematics enrichment days throughout the year, expertly delivered by various members of the Mathematics Deparcment. The Physics and Chemistry Departments delivered STEM Innovation and Skills development and Chemistry masterclasses for partner school pupils. The academic year culminated in the annual STEM Conference which brought together over 200 Year 12 pupils from Highgate. LAET and 5 partner schools. Pupils attended seminars delivered by Highgate teachers and a lecture from keynotr speaker Nick Lane, Professor of Evolutionary Biology at UCL and Faraday Prize winner. 14 HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 OTHER CHARITABLE ACTIVITIES (continued) Partnership Teaching and Summer School (continued) Sharing best prattice between Highgate teachers and colleagues in partner schools demonstrates our ambition of mutualiry in parrnership and included the annual English teacher training day held in the Summer term with our English Department joined by 15 colleagues from 9 partner schools including LAET for a day-long CPD evenL The partnership with LAET continued with 14 seconded teachers (circa 10 full-time equivalent), a shared January inseL a new provision for music and the Community Partnerships Director and all Chrysalis Fellows working there one day weekly to work alongside the t21ented LAET staff body. The two annual Chrysalis summer schools are designed to enrich the educational experience for participating scudents. Injuly 2024, the primary summer school for Year 4 and S pupils was well atcended and featured a diverse array of sessions. including British Sign Language, robotics, sports. and science. The secondary summer school, held in August 2024, focused on Year 10 and Year 12 pupils. offering a comprehensive programme that included career exploration, employability skills. and higher education support. Highlights included a university visit to Oxford University and mastercla55e5 in STEM and humanitie5, delivered by educators from Highgate and L4ET. An impressive 95% of Year 12 students and IOOYO of Year 10 students indicated they would recommend the summer school to their peers. Post-programme evaluations reveal that 84Y• of Year 12 students and l OOY• of Year l O students feSt adequa￿lY prepared to pursue their chosen subjects at university and A Level respettively. Pupil Volunteering and Community Partnerships The pupil volunteering and community engagement efforts continued to be aligned under the theme 'A Connetted Community this theme demonstrates Highgate's values of encouraging our pupils to look outwards. to play an active part in their community and to Use their voices and minds to make a difference to the world around them. Each school and section continued their relationship with their 'charity of the year, partner from the previous academic year to align with the biennial charitable fundraising sponsored walk cycle. The charity parrners were: Pre-Preparatory School - David Nott Foundation", Junior School World Villages for Children: Lower School (Years 7-8) - UK Antarttic Heritage Trust," Middle School Cfears 9-11) - Street Child; Sixth Form - Women's Aid: Whole School: in-kind donations - Food Bank Aid,. global crises charity partner- Disaster Emergency Committee. Pupils across the school took part in a year-round programme of fundraising activities including sustainable non- uniform days, bake sales, musical performances. busking, quizzes. chariry races, and games. Pupils and staff also donaced over 762 shopping bags of groceries and household items to our long-term parcner North London Food Bank Aid throughout the year. In addition to these formal 'chariry-of-the-year' partnerships, pupils raised funds and a￿arenesS for other one-off initiatives e.g. Junior School activities for Children in Need and Senior School activities for homelessness including a 'Sleep Out, to raise empathy and awdreness in partnership with the chariry Shelter. All schools and sections received visits from their 'charity of the year. partner to ensure pupils were connected to the causes to which they donaced. All pupils and staff across rhe School and our partner school LAET participated in an off-timetable day of charity for the biennial charitable fundraising sponsored walk on Wednesday S l October 2023. This evenL called 'Step for Change, raised over £91,000 for our charity partners and involved pupils walking varying distances totaling 31.600km for all Highgate and LAEf pupils and staff. Pupil volunteering continued throughout the year. SeveTrl sixrh form pupils committed to weekly volunteering at the Wellness Café, a St. Michael's church initiative that provides lunch and company for local lonely andlor elderly residents. Other sixth form pupils committed to monthly digital skills sharing with Coffee and Computers. a local community initiative for elderly residents. A cohort of sixth form volunteers delivered weekly numeracy and literacy l- I support for pupils at Chrysalis partner school Gladesmore. and others supported the delivery of Highgate's Chrysalis Accelerator programme for looked after children and children with a social worker (CWSW). HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 OTHER CHARITABLE ACTIVITIES (continued) Pupil Volunteering and Community Partnerships (continued) All Y9 pupils participated in one day of volunteering and community engagement this academic year with local partners i.e. an elderly care home. local Chrysalis primary schools, Jackson'5 Lane community initiative, and local sustainability projects. All YI O pupils participated in environment-related community action for Environment Morning. activities included litter picking, gardening. and wildlife habitat building. The summer term included pupil and staff volunteering at local community fairs and events i.e. Highgate Festival. Fair in the Square, and Eco fair in the Square- volunteer activities ranged from marshalling, set-up and clear aV￿Y of festival stages, litter picking, and musical performances of the main stage. Bursaries 107 pupils received means-tested fee remission.. 97 in the Senior School (including 8 refugee pupils from Ukraine, supported by the Refugee Family Support Officer) of whom 61 received IOOY. fee remission, consistent with the policy to concentrate bursary awards amongst children whose parents or carers are able to pay very little or none of our fees, and. l O in the Junior School. Thirteen pupils were in addition to their means-tested fee remission given grants towards the cost of uniform and £ l 0,000 vrfas allocated to enable bursary holders to participate in trips for which there is a charge requests for trip support has once again increased significantly. Through donations from former pupils (Cholmeleians) and parents, the School also assisted with £42,375 towards the costs of instrumental music lessons and additional expenses for bursary award holders. The total value of our bursarial support was £2,480,81 l. Of this figure, the School funded £2,317,144, a significant part of which, as set out in the Accounts, came from generous donations. Six of the 97 Senior School pupils receiving means-tested fee remission were supported by the Friends of Highgate School Society (a registered charity, no. 1056624) which contributed £163,667. In a new initiative, one Sixth Form pupil was sUppO￿d by the Joshua Dorgu Foundation. Our review of our total support package, beyond fee remission, continued, with an enhanced "bursary package" being put together for applicants from 2025 onwards. This will ensure a more appealing and competitive offer for bursary candidates. The 'virtual Head of House. for Bursary pupils is now established as a key point of contact for parents and carers, and introductions have been facilitated by home visits and coffee mornings. A full statement of our policy on bursaries is available on our website. there is also further information available for parents and carers within the admissions seccion of our website. Costs associated with other charitable activities In addition to the funding associated with bursaries, approximately £1,530,000 reflects the associated salary costs for the year (including pension and employer's national Insurance) of our Community Partnership Director, administration of and pastoral support for bursary holders, the share of staffing costs associated with partnership teaching programme {including 10 full-time equivalent of staff seconded to LAET) and our Chrysalis Fellows. Around a furcher £44,000 was also incurred during the year on the running costs of our work on partnership teaching and community partnership5, including transport, equipmen¢ and visits to venues. 16 HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 FUTURE OBJECTIVES As stated earlier, in September 2020, a new development plan for the period 2020-25 was launched. This plan brings together our current school priorities, the measures we will take to raise standards further and the changes we are planning to bring about better ouccomes for our pupils. The plan includes objettives which are unlikely to be achieved without deliberate or renewed. coordinated action. Many critical aspects of Highgate School always remain at the forefront of our thinking throughout- pupil welfare, for example- and are not therefore included unless they are the focus of change or particular development. This development plan will continue to inform our objectives over the next year. GOVERNANCE Structure, governance and management Our Governors (listed in the next section), who are our Charity's Trustees. are responsible for the governance of our School. Highgate is governed in accordance with our Scheme of Governance, dated I September 2005. as amended. and our Governors are members of the Body Corporate of "The Wardens and Governors of the possessions, revenues, and good5 of the Free Grammar School of Sir Roger Cholmeley. Knight in Highgate" Management is under the direttion of our Head. Our full governing body meets at least six times a year. The following four SU￿cOmMIttee$ all meet at least three times a ye2r. { l ) Finance. Audit and Risk Commit￿, (2) Estates Committee. (3) Nominations and Remuneration Committee and (4) Safeguarding Committee. Governors have also established a non-fee income working group. Governors drawn from the sub-commicrees meet periodically to review the ethical dimensions to school policies and. where required. to consider significant matters of education policy or practice. The Nominations and Remuneration Committee is responsible for overseeing succession planning to ensure our governing body contains appropriate diversity. experience and skills, and making recommendations to Governors about recruitment processes for new Governors. Recent appointments have involved advertising roles within our School community prior to a sifting and interview process: in 2022-23 we worked with Nurole for the specific appointment of a Deputy Chairman. Four new Governors were appointed in the Michaelmas Term 2023. All new Governors receive induttion training. The Governing Body can a150 appoint associate members to serve on one or more of the sub-committeeslworking groups andlor to attend full Governing Body meetings. Associate members are often selecced to draw on expercise and experience from outside the Governor membership. During 2023-24. an associate member has served on the Estates Committee, Safeguarding Committee and on the Sustainability and Environmental Executive Committee. In considering che pay and remuneration for the School's key management personnel, the Nominations and Remuneration CoMmit￿e consider the nacure of the role and responsibilities, trends in pay and competitor salaries in the region available from publicly available sources. Management The day-to-day running of our School is delegated to our senior leadership team. The Head, Adam Petcit exercises the funcrions of Chief Executive in leading and diretting the Senior, Junior and Pre-Preparatory Schools, and reports to the governing body. The day-to-day responsibility for management of the Junior School and Pre- Preparatory School is exercised by the respettive Principals. who report to the Head: Philippa Studd (Principal of the Junior School) and Sally Hancock (Principal of the Pre-Preparatory School). HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 Management (continued) The Head is assisted in the Senior School by Lwo Senior Deputy Heads, Todd Lindsay and Louise Shelley, a Deputy Head (Academic), James Newton, a Deputy Head (Pastoral and Safeguarding), Rebecca Golland, and a Deputy Head (Professional), Graeme Robertson, together with a number of Assistant Heads. From September 2024, an (Acting) Deputy Head (Pastoral), Verity Smith, has also been appointed. The Bursar, John Pheasan( is responsible for the management and leadership of support staff, and the financial administration of our School, and reports to the Head. The Bursar a150 acts as Secretary and Clerk to the governing body. in which role he reports directly to the Chairman. The Head, Principals of the Junior and Pre-Preparatory Schools, Deputy Heads and Bursar make up the Strategy Management Committee. ADDRESS OF SCHOOL Highgate School Norch Road Highgate London N6 4AY REGISTERED CHARITY NUMBER 312765 AUDITORS Haysmac LLP l O Queen Street Place London EC4R I AG SOLICITORS Farrer & Co. LLP 66 Lincoln's Inn Fields London WC2A 3LH BANKERS Coutts & Co. St Martin's Branch 440 Strand London WC2R OQS INVESTMENT MANAGERS RBC Brewin Dolphin 12 Smithfield Street London EC IA 98D 18 HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 GOVERNORS WHO HELD OFFICE DURING THE YEAR ENDING 31 JULY 2024 FA&RI Estates Nom&Rem3 Safeguardin Mark Barber MA MRICS FRGS FRSA Jenny Brown MA(Oxon) Appointed 20 Septsmber 2023 Joan Deslandes BEd{Hons) OBE MA Sam King KC MA(Cantab) Hannah Lewis Appointed l O October 2023 Kevin Mccarthy LLB{Hon) BCL(Oxon} Notary Public Deputy Chairman Appointed 28 November 2023 Leonie Morel MSCM Tamara Oppenheimer KC Appointed l O October 2023 Kumar Panja BA LLDip Aty Patel MA MBA Treasurer Robert M Rothenberg MBE BA FCA cfA Chairman Paul Rothwell MA Daniel Widdlcombe MA l Member of the Fin3nc< Audit & Risk Committee. 2 Member of the Estates Committee. 3 Member of the Nominations and Remuneration Committee. 4 Member of the Safeguarding Committee. 19 HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 PUPIL NUMBERS AND FEES Pupil numbers were 1,944 in September 2023. Our fees per term, in 2023-24, were £8,505 (Senior School), £7,800 Uunior School) and £7,365 {Pre-Preparatory School). Our fees are inclusive of lunch, the use of books and stationery, and practically all other extras including fucure life membership of our alumni society (Cholmeleian Society), field worl one residential trip in Years 7-9, and day visits in curricular time. FINANCES Total fee income in 2023-24 was £45,951.801. The operating surplus was £1,589,931. Governors continue their strategy of deploying all net incoming resources to investing in the School and Charity to ensure that Highgate keeps, and indeed works to improve further, its Position as a successful place of learning and all-round educational excellence. In the current financial year, £609,869 was spent in respect of this investment programme, ensuring that the needs of succeeding generations of pupils are met, as well as the current. Diversifying non-fee income The School continues to offer paid-for courses at the Mallinson Sports Centre and facilitate filming opportunities. Further work is being undertaken to explore other non-fee income opportunities including lettings, hirings and wider opportunities such as international schools and provision of a pre-school offering. Fundraising approach and performance We undertake fundraising activities within the school community via direct mail, telephone, community participation activities (such as our pupils, sponsored walk), fundraising events, solicitation of individuals, crowdfunding campaigns and email in line with the Fundraising Code of Practice set by the Fundraising Regulator. Fundraising is overseen by the School's Development Office by staff all of whom have detailed job descriptions associated with their roles and receive appropriats training to reinforce our fundrnising ethics. We are registered with the Fundraising Regulator and adhere to the standards of the Fundraising Code of Practice, and act in accordance with the terms listed in the Charity Governance Code. Fundraising activities are open, fair, honest and respectful; the School does not fundraise from constituents who are considered vulnerable or in circumstances which mean an individual is unable to make an informed decision. No formal complaints were received about fundraising attivity in the year. Trustees receive regular reports regarding fundraising activity and performance. The year saw donations, towards bursaries, partnerships, general funds and capital projects, received in-year of £788,811 (2022-23: £971.206). The Charities SORP requires donations to be recognised when receipt is probable and, therefore, captures pledges promised for receipt in future years,. at year-end as a result of the continued economic uncertainty including the announced introduction of VAT on school fees, the School has reassessed the likely receipt of some pledges which has had the effect of reducing the total net donations income in the financial statements to £55,560 (2022-23: £870,888) (Note 3b to the Accounts on page 35 refers). Buildings Governors remain committed to continuing to invest substantially in upgrading and, where necessary, renewing current academic facilities. to ensure that our physical estate meets all emerging requirements to a high standard. Our current priorities include improving drama, music, sports and sixth form facilities, plus renewing services to, and reconfiguring, our Senior School's science laboratories. Additionally, in a drive to maintain our first-ra facilities, our School continues to preserve its historic buildings to improve the look of our School for the benefit of staff, pupils and the local community. Consequently work will continue, as part of our extensive capital 20 HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 FINANCES (continued) Buildings (continued) development programme, in upgrading teaching facilities and repairing the fabric of our historic buildings. During 2023-24. following a number of planning applications that had been submitted during 2022-23. in line with a Supplementary Planning Document (SPD) for the School's estste that wa5 adopted on 9 March 2021, the School continued to consult with the community over the applications. To contributr towards the funding of this programme, the School entered into a private placement in July 2019 for £60,000.000 details of which are set out within Note I la to the Accounts. Specific investment powers. policy and performance The governing scheme affords Governors power5 in line with those generally applicable to charitable foundations. Investments acquired by Governors. during the year ending 31 July 2024. have been acquired in pursuance of those powers and within the Statement of Investment Policy agreed with Investment Managers. RBC Brewin Dolphin. The Investment Objectives aim for a total annual return over rolling three-year periods of at least inflation (RPI) plus 4Y.. As of Occober 2024, performance was an annualised return for the rolling three-year period of 1.67. against an annualised return for RPI plus 4Yo of 12.3/. Work is in hand to try and improve this return. Reserves Policy In common with other independent schools, Highgate does not have free reserves readily available to spend on any of the charity's purposes. As indicaced on our balance sheeL at the year end. our School had total funds amounting to £82,265,993. This Wds split between endowment funds of £29.447.360. of which £27.789.363 related to the net book value of the original endowed property of our School (principally constituting our main island site in our Senior School), restritted funds of £2.564.102. namely donations (including pledges) received for specific purposes, and. the remainder, unrestricted funds of £50,254.531. The unreStri￿d funds reflect the residual investment that our School has made over rhe years in the fabric of our building and facilities: it is not readily available for spending. The Governor5 therefore monitor the day-to-day operations of Highgate through management of good budgeting procedures and cash-flow. to ensure that it can meet the ongoing needs of the operations of the School and continue to invest in the fabric of the estate and educational provision. Governors are satisfied that we have sufficient available cash and facilities to deliver our strategic objettives. Risk Assessment Processes are in place to identify risks under the headings of Aimslobjects, Law and Regulation. Governance and ManagemenL Academic. External Fartors, Operational. Human Resources. Environmental, Technological and Financial Risks. and the necessary micigations, and assessments and controls established to manage these are kept under regular review by our senior management and our Governors, Finance, Audit and Risk Committee. The main risks that have been identified, and the plans to manage those risks. are: Challenges to the financial viability andlor affordabiliry of independenc schools by increases to costs largely outside the control of schools such as VAT, Business Rates, National Insurance and other taxes. The introduttion of VAT on school fees from l January 2025 has been announced and will have a significant impact on affordability for many current parents and those who may. in the future. have considered independent schools. as mitigation. the School continues to review the educational and other charitable acciviues to identify costs that could be reduced if necessary, consulting with parents. general financial due diligence and to look to further diversify income by identifying meaningful non-fee income opporcunities 21 HIGHGATE SCHOOL GOVERNORS. REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 FINANCES (continued) Risk Assessment (continued) to reduce the current significant reliance on fee income. Serviceldatalfinancial loss from unauthorised access to School's network and associated reputational risk, particularly of a personal data breach. This risk is managed by a blended approach, including the enforcement of strong passwords, multi-fattor authentication for accessing data and systems, a multi- tiered approach to anti-malware protection and regular staff awareness training on cybersecurity. Ageing facilities inadequate for modern day teaching and learning. This risk is managed by the capital programme which aims to address the School's academic requirements by focusing on buildings in significant need of repairs and renewals. Reputation of the education and well-being of our pupils and the activities of our School, This risk is managed through relevant policies embedded within our School through meetings, committees, staff and pupil awareness, and having nominatsd senior managemenc responsible for specific policies. Policies include: safeguarding policies, staff recruitment policies, and health and safety policies. Other areas of focus include security and personal safety. In addition, our School uses professional advisers when necessary. Sustainability issues that impact on our community, particularly air pollution. Issue identified as a priority in our development plan. This risk is managed by the Sustainability and Environment Committee and the appointment of an Associats Member to the Governing Body who is helping develop priorities, Diversity of pupils and staff. Issue identified as a priority in our development plan. This risk is being managed by continuing to review our application processes to attract more applications from groups that are considered under-represented. Governors have been provided with assurance that risks have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable, but not absolute, assurance that major risks have been adequately managed. Fixed assets The fixed assets are as stated in the balance sheet and further detailed in the notes to the financial statements. They are considered to be available and adequate to fulfil the obligations of our School. Statement of Governors, Responsibilities Governors have prepared financial statements for the financial year that give a true and fair view of the srace of affairs of our School and of the surplus of the charity for that period. In preparing these financial statements, Governors have: adopted suitable accounting policies and applied them consistently observed the methods and principles in the Charities SORP: made judgements and estimates that were reasonable and prudent; stated that applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement5; and prepared the financial statements on a going concern basis. 22 HIGHGATE SCHOOL GOVERNORS, REPORT (continued) FOR THE YEAR ENDED 31 JULY 2024 Governors have kept proper accounting records which disclose. with reasonable accuracy at any time, that the financial statements comply wth trust law. Governors have safeguarded the assets of the charity and t2ken reasonable stsPS for the prevention and detrttion of fraud and other irregularities. Governors confirm that the accounts comply with the requirements of the Charities Att 2006 as amended by the Charities Act 201 I, the Governing Scheme. and the Charities SORP 2015. Governors confirm that they have complied wÉth the duty in Seccion 17 of the Charities Att 2011 to have due regard to the public benefit guidance published by the Chariry Commission. On 18 November 2024, haysmacintyre LLP changed its registered name to Haysmac LLP. on behalf of the Governors Chairman of the Governing Body d Chairman of Trustees 3 December 2024 23 INDEPENDENT AUDITORS, REPORT TO THE BOARD OF GOVERNORS OF HIGHGATE SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HIGHGATE SCHOOL Opinion We have audited the financial statements of Highgate School for the year ended 31 July 2024 which comprise Statement of Financial Attivities, the Balance Sheets, the Cash Flow Statement and the notes to the financial ststements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounring Standards. including Financial Reporting Standard 102 The Financiol Reporting Stondard opplicoble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion. the financial statements: give a true and fair view of the state of the charity's affairs as at 31 July 2024 and of the charity's net movement in funds for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We have been appointed as auditor under section 144 of the Charitie5 Act 201 l and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 audic 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 financi￿ statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions tha( individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are auchorised for issue. Our responsibilities and the responsibilities of the trustees with respett to going concern are described in the relevant sections of this reporL Other information The trustees are responsible for the other information. The other information comprises the information included in the Governors, ReporL 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 connettion 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 misstatsment of this other information. we are required to report that facL We have nothing to report in this regard. Matters on which we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion: adequate accounting records have not been kept by the charity; or sufficient accounting records have not been kept., or the charity financial statements are noe in agreement with the accountin8 records and returns,. or we have not received all the information and explanations we require for our audit. 24 INDEPENDENT AUDITORS. REPORT TO THE BOARD OF GOVERNORS OF HIGHGATE SCHOOL Responsibilities of trustees for the financial $tatementS As explained more fvlly in the trustees. responsibilities statement (set out on pages 22-23). the trustees are responsible for the preparation of the financiLI statements and for being satisfied that they give a true and fair view. and for such internal control as the rru5tees determine is necessary to enable the preparation of financial statements that are free from material misstatemen¢ whether due to frnud or error. In preparing the financial statements. the trustees are responsible for assessing the chariry's ability to continue a5 a going concern. di5tlosing, as applicable, matters related to going Concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operntions, or have no realistic alternauve but to do so. Audito￿5 responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free from material misstatemen¢ whether due to frnud or error. and to issue an auditor'5 report that includes our opinion. Reasonable assurance is a high level of assur7nce, but is not a guarantee that an Ludit conducted in accordance ISAS (UK) will always detett a material mi5sratement when it exists. Mi5ststrments 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 basi5 of these financial statements. Based on our understanding of the charitable company and the environment in which it operdtes, we identified that the principal risks of non-compliances with laws and regulations related to the regulatory requirements of the Chariry Commission and the Independent Schools Inspettorate (ISI}, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulation5 that have a direct impatt on the preparauon of the financial statements such as the Charities Act 201 I, Charities SORP (2019) and payroll taxes. We evaluated management'5 incentives and opponunitie5 for fraudulent manipulation of the financial 5r2tements (including the risk of override of controls) and decermined that the principal risk wa5 related to the recognition of voluntary income. Audit procedures performed by the engagement team included: Enquiries of management regarding correspondence with regulators and tsx authorities; Discussions with management including consideration of known or suspected insrances of non-compliance with law5 and regulation and fraud.. Reviewing the controls and procedures of the charity. parricularly in relation to the recording of income and processing of payments and payroll. to ensure these were in place throughout the year,. Reviewing relevant minutes of meetings held during the course of the year- Evaluating management's controls designed to prevent and detect irregularities; Reviewing and testing journal entries made in the year, particularly those made a5 part of the year end financial reporring process.. and Challenging assumptions and judgements made by management in their critical accounting estimates which comprise depreciation, bad debt provision, accruals. deferred income and the classtfication of propertie5. Because of the inherent limitations of an aydi¢ there 15 a risk that we will not detect all irregularities, including those leading to a material mi55rarement in the financial sratements or non-compliance with regulation. This risk increa5e5 the more that compliance with a law or regulation is removed from the events and trxnsattions 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 involve5 intentional concealmenL forgery. collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial St3￿me￿lS 15 located on the Financial Reporting Council's website at . This descripuon forn)s part of our auditor'5 report Use of our report This report is made 501ely to the charity's trustees. as a body. in accordance with section 144 of the Charities Act 201 l and regulations mkde under section 154 ofthatAct. Our audit work has been undertaken so that we might state to the chariry's trustres those matters we are required to stste to them in an Auditor'5 report and for no other purpose. To the fullest extrnr permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustee5 as a body for our audit work, for this rF rt or for the opini s we have formed. ac LLP Statutory Auditors 18. December 2024 l O Queen Street Place London EC4R IAG Haysmac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 25 HIGHGATE SCHOOL STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 General Funds Deslgnated Re$trlcted Endowment Funds Funds Funds Total 2024 Total 2023 Note$ INCOME FROM: Charltable actl¥lties School fees receivable Other educational income Ancillary trading income Investments Bank and other interest Investment income Voluntary sourtes Donations 45,951,801 727,083 2,106,287 45.9S1,801 727,083 1106,287 42,084,977 626,751 2.271406 1516,962 6,606 333 18,607 303 17,319 2.517,598 41532 1,487,617 37,506 38,328 17,232 55,560 870.888 Total Income 51,347,067 36,172 17,622 51,400,861 47,380,145 EXPENDITURE ON: Raislnz fvnd$ Fundrnising and development Finance costs Charftoble artlvities School operating costs 162,667 1,774.000 162,667 1,774,000 204,643 1.774,000 46,854,781 1,019,482 47,874,263 44,765,503 Total expendlture 48,791,448 1,019.482 49,810,930 46,744.146 NET INCOME 1555.619 (983.310) 17,622 1,589,931 635.999 Gains on investment assets Transfers between funds 161976 162,976 14 {1555,619) (35,567) 2,555.619 Net movement in fvnds 2.555,619 (983,310) 180,598 1,752,907 600.432 Balances brought forward at l August 2023 47.698.912 3,547.412 29,266,762 80,513,086 79.912,654 Balances carried forward at 31 Juty 2024 50,254.531 2,564,102 29,447,360 £82,265,993 £80,513,086 All amounts derive from continuing activities. All gains and losses recognised in the year are included in the statement of financial activitles. Full comparative figures for the year ended 31 July 2023 are shown In note 18. The accompanylng notes are an Integral part of thi5 Statement. 26 HIGHGATE SCHOOL BALANCE SHEET AS AT 31 JULY 2024 2024 2023 Notes FIXED ASSETS Tangible a55ets Investments 100,9T7,249 1,869,245 103.327,924 1,680.189 102,846,494 105,008.113 CURRENT ASSETS Swck Debtors Cash ar bank and in hand 53.957 1969,224 60.843.181 57,373 4,419.910 46.557.156 63,866,362 51,034,439 CURRENT LIABILITIES Creditor5 - due within one year (16,057.900) (11,401,652) NET CURRENT ASSETS 47.808.462 39,632.787 TOTAL ASSETS LESS CURRENT LIABILITIES 150,654,956 144.640,900 Creditors- due aftsr one year (68,388.963) (64.127.814) TOTAL NET ASSETS £82.265.993 £80,513,086 Represented by. ENDOWMENT FUNDS 12 29.447,360 29.266.762 RESTRICTED FUNDS 13 1564,102 3,547.412 UNRESTRICTED FUNDS Designated and general fund5 14 50.254.531 47.698.912 TOTAL FUNDS £82.265,993 £80,513,086 The financial statements were approved and authorised for issue by the Governing Body on 26 November 2024 and were signed below on its behalf b RM ROTHENBERG MBE BA FCA CTA Chaimian H LEWIS Treasurer The accompanying notes are an integral part of this balance sheeL 27 HIGHGATE SCHOOL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2024 2024 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Net income {GainsllL055 on investments Depreciation Interest paid Interest and dividend5 receivable Decrease in stock {Increase) in deb￿r$ IncreasEI(Decrea5e) in creditDf5 1,752,907 {162,976) 3,001.458 1,774.000 (2.560,130) 3,416 1,450,686 2,217,268 600,432 35.567 2.981,242 1,774,000 (1,525,123) (8.5041 {1,122,549} (1,979,564) Net cagh flow from operating actlvities 7,476,629 755.501 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of fixed a55et5 Proceeds from sale of investments Purchase of inve5rment5 (Increa5e}l Decrease in Investment cash Interest and dividends re¢elved (650,783) 946,813 {978,095) 5,202 2.560,130 (2,621,901) 334.953 (360,782) (5,455) 1,525,123 Net cash used in Investing activitles 1,883,267 (1.128,062) CASH FLOWS FROM FINANCING ACTIVITIES Interest paid 11,774.000) (1,774,000) Net cash used In inv¢5ting actlvltles (1.774,000} (1.774.000) Advance fees New Comp051tion Fee5 Comp05irion Fees Amounts utillsed 8.283,243 (1,583,114) 1,204.714 (1,735.393} 6,700,129 CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING PERIOD (530,679) £14,286.025 £(2,677,240) Cash and cash equivalents it b￿InnIng of period Cash and cash equlvalent5 at end of reporting period 46.557,156 60,843.181 49,234,396 46.557,156 ANALYSIS OF CHANGES IN NET DEBT At l August 2023 Cashflows At 31 July 2024 Cash and cash equivalents Cash Advance fees Borrowings Debt due wlthln one year Debt due after one year 46.557,156 (4,053,119) 14.286.025 60,843.181 (6,700,129) {10,753,248) {60,000.000) (60,000.000) (17,495,963) 7,585,896 {9,910,067) 28 HIGHGATE SCHOOL STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES General Information Statement of Compliance 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 effective l January 2019. The accounts are drawn up on the historical cost basis of accounting. as modified by the revaluation of investments and revaluation of land and buildings. 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 accivities for the foreseeable future and consider that there were no material uncertainries over the School's financial viability. The likely financial challenges on the horizon has also been provisionally assessed by the Governors and, by reviewing the charity's ongoing activities. its forecasts, mitigations to manage incomelexpenditure and risks. the organisation remains financially viable. Governors will continue to monitor these closely. Governors, monitoring of performance and wellbeing indicate that overall there has been no significant impatt on our artivities that cannot be managed. A detailed updated financial forecast has been prepared and considered to assess the impatt of the financial challenges on the horizon: Governor5 have a reasonable expectation that the School has adequate resources to continue for the foreseeable future. As a result of the private placemen( any significant change is likely to impact on the pace of delivering the capital programme. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements. The School is a Public Benefit Entity registered as a chariry in England and Wales (chariry number. 312765). Critical accounting judgements and key sources of estimation uncertainty In the application of the accounting policies. Governors are required to make judgements. estimatss, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The e5timate5 and underlying assumptions are based on historical experience and other frdttors that are considered to be relevanL Attual results may differ from these estimates. The estimates and underlying a55umptions are reviewed on an ongoing basis. Revisions Eo 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 affecced current and future periods. In the view of the trustees. the depreciation rates charged are the Governors best estima￿ of useful economic life for the asseL and changes could result in a material adjustment of the carrying amount in subsequent years. The School provides for bad debts which includes a judgement on recoverability and is reassessed annually. 29 HIGHGATE SCHOOL STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES (continued) The following accounting policies have been applied consistently in dealing with items which are considered material in relation to School's financial statements. Fee5 and similar earned income Fees receivable and charges for services and use of the premises, less any allowances, scholarships, bursaries granted by the School against those fees, but including contributions received from restritted funds, are accounted for in the period in which the service is provided. Bank and interest income Income from cash deposits and bank balances is accounted for on an accruals basis. Investment income Investment income from dividends and fixed interest securities is accounted for on an accruals basis. Donations, legacies. grants and other voluntary income Voluntary income is accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable. This particularly impacts on accounting for pledges where the School is notified of income during a financial year but the income will not actually be received until a later accounting year. Such income is recognised upon confirmation of entitlement where it is probable that the income will ultimately be received (not on receipt). The detail of pledges 'previously recognised, (pledges recognised in earlier years, Accounts that had not been received by 31 July 2023) and 'pledges carried forward, (a combination of (a) pledges 'previously recognised. that had still not been received by 31 July 2024. (b) new pledges made but not received during che period l August 2023 to 31 July 2024 and (c) any changes to pledges 'previously recognised, where it is no longer probable that the income will ultimately be received) is set out in Note 3b. Voluntary income for the School's general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictions. voluntary income is credited to the relevant restricted fund. Expenditure Expenditure is accrued as soon as a liability is considered probable, discounted co present value for longer- term liabilities. Expenditure attributsble to more than one cost category in the Statement of Financial Activities is apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate. Irrecoverable VAT is included with the item of expenditure to which it relates. Governance costs comprise the costs of running the charity, including strategic planning for its future developmenL external audi( any legal advice for the School's Governors, and all the costs of complying with constitutional and statutory requirements, such as costs of Board and commit￿ meetings and of preparing ststutory accounts and satisfying public accountability. 30 HIGHGATE SCHOOL STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES (continued) Tangible fixed assets Tangible assets are included at their net book value at the year-end. Expenditure on the acquisition. construction or enhancement of land and buildings of a capital nature together wiih vehicles. furniture, machinery. ICT infrastructure and other equipment of a capital nature are capitalised and carried in the balance sheet at historical COSL Other expenditure on equipment incurred in the normal day-to-day running of the School is charged to the Statement of Financial Activities as incurred. Individual items costing less than £ 1,000 are normally written off as an expense in acqui51tion. Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual value based on current market prices, in equal annual insralments from commencement of the projett over their expected useful economic lives as follows: Freehold Property Furniture and EquipmenL' Furniture. Equipment and IT Motor Vehicles 2Yo of carrying value 2.1 0% or 20Yo on cost 20% on cost Included in freehold properties are residential properties owned by the School that are let on a short-term basis, and subject to short notice periods. The properties are held at cost and were acquired in line with the School's continuing development Stra￿gY and as such are treated as operational property and not investment assets. Investments Listed investments are valued at market value as at the balance sheet da￿. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the sta￿ment of Financial Activities and are allocated to the appropriatr Fund according to the "ownership" of the underlying assets. Stock Stock represents goods for resale and is valued at the lower of cost and net realisable value. Fund accounting The charitable trust funds of the School are accounted for as unrestrirted or restricted income in accordance with the terms of trust imposed by the donors or any appeal to which they may have responded. Funds The School maintains four types of fund: (a) Endowment- where the capital is held in perpetuity and income generated used for charitable purposes expenditure: (b) Restritted - where the purposes for which funds may be used have been restricted by donors: HIGHGATE SCHOOL STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES (continued) Funds (continued) (c) Designated - where the funds are unrestricted but where the Trustees have designated them for a specific purpose; (d) General - where the funds are unrestricted and not designated. Endowment Funds The original land and buildings of the School are subject to a permanent endowment. The Endowment Fund refletts the rebased cost of assets principally constituting the main Island Site, following engagement with the Charity Commission. as at 31 July 2016. The Sinking Fund represents recoupment of the proceeds on disposal of endowment property. The Prize Fund consists of a number of individual prize funds set up by donors for the provision of prizes. Restricted Funds The Library Fund exists to provide books and equipment for the School library. Designated Funds The building reserve represents funds generated from appeals and transfers from unrestricted funds. The reserve reflects that part of the School's unrestricted funds which relates to property. Pension costs Retirement benefits to employees of the School are provided through two pension schemes. The pension Costs charged in the Statement of Financial Artivtties are determined as follows: (a) The Teachers, Pension Scheme - This scheme is a multi-employer pension scheme. It is not possible to identify the School's share of the underlying assets and liabilities of the Teachers, Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The School's contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable; (b)The ISPEN is a multi-employer defined benefit scheme. The assets of the scheme are held independently from those of Highgate School in an independently administered fund. The costs recognised during the year relate to the movement in the year end liability, which is disclosed in more detail Notes I l and 17; (c) Other pension costs are charged in the accounts for defined contribution schemes and represent the contributions payable by the School during the year. 32 HIGHGATE SCHOOL STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES (continued) 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. Benefics received and receivable as an incentive to sign an operating lease are similarly spread on a 5tr2ight-line basis over the lease term. Financial instruments Basic financial instruments are initially recognised at transattion value and subsequently measured at amorrised 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 doubL 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 ttxes and provisions. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the trnnsfer of funds to a third party and the amount due to setde the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered and net of a provision for bad debts. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar accounL 33 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 FEES 2024 2023 Fees receivable consist ofr, Tuition fees Music fees 48,008,835 741.102 44,076,611 689,751 48,749,937 (435,065) 44.766,362 (392,153) Less.. Allowances Less.. Bursaries funded from unrestricted funds Less: Bursaries funded from restricted funds {1.704,691) (612,453) (1.695,994) (540,318> (2.317,144) (45,927) Less: Scholarships {2,236,312} (52.920) £45,951,801 £42,084,977 Scholarships, bursaries and other awards were paid to 120 pupils (2023: 118). Within this, means tested bursaries totalling £2.317.144 were paid to 107 pupils (2023: £2,236,312 to 105 pupils). OTHER INCOME 2024 2023 Other educational charitable income Entrance & registration fees Lettings Other educational income 273,359 182.285 271.439 296.272 88.622 241,857 727,083 626.751 Other ancillary activities Mallinson Sports Centre Other income Rents Educational visits 6th Form and Tuck Shop income 556.840 3,000 863,384 658.291 24,772 584,655 3,000 818,790 840,817 25.144 2,106,287 2,272.406 £2,833,370 £2,899,157 34 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 3& DONATIONS AND LEGACIES (2024) Unrestricted Restricted 2024 Restricted Funds Unrestricted donations 17,232 17,232 38,328 38,328 38,328 17,232 55,560 DONATIONS AND LEGACIES (PRIOR YEAR) Unrestricted Restricted 2023 ReStrI￿d Funds Unrestricted donations 813,793 813,793 57,095 57,095 57,095 813,793 870.888 3b. BREAKDOWN OF DONATIONS (see explanatory comments within Accounting Policies) 2024 2023 Pledges previously recognised Donations received in-year Pledges carried forward (2,138,069) 788,811 1,404,818 (2,238,387) 971.206 2.138.069 Donations income 55,560 870.888 4& ANALYSIS OF EXPENDITURE 2024 2023 Net income is stated after cha Auditors, remuneration - audit fees Auditors, remuneration - other services Depreciation 49,220 7.944 3,001.458 39,300 7,164 2,981,242 35 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 4b. Average Staff Numbers 2024 2024 Total Staff Costs Depreciation Other e Activi Teaching costs Welfare Premises Grants. awards and prizes Support Costs and governance Fundraising and Development Finance costs Mallinson Sports Centre 413 60 39 26.582,760 1,410,592 1.759,243 3,972,761 30,555.521 1.454.323 2,864,915 4,223.273 8,983,974 12,198 12,198 2,432,221 5,383,647 3,001,458 73 2.951.426 57,440 105,227 162,667 1,774,000 74,008 1,774,000 74.008 588 32,761,461 3.001,458 14,048,011 49,810,930 PRIOR YEAR Average Staff Numbers 2023 2023 Staff Cost$ Depreciation Other Total bl A tivi eratin Teaching costs Welfare Premises Grant5, awards and prizes Support costs and governance Fundraising and Development Finance costs Mallinson Sports Centre hool 400 24,914,264 1,251,832 1,655,366 3,237,159 28,151,423 1.519.867 2,771,699 4.001.730 8,638,338 9,799 9.799 2,051,646 5.137.682 134.312 204.643 1,774,000 1.774.000 56,592 56.592 37 2,981,242 74 3,086,036 70,331 565 30,977,829 2.981.242 12,785,105 46.744,176 36 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 4c. GOVERNANCE INCLUDED IN SUPPORT COSTS 2024 2023 Remuneration paid to auditors audit services other services Governors, reimbursement to Governors, expenses 49.200 7.944 299 39,300 7.164 283 £57,443 £46,747 The 5UPPOrt costs relate to the charitable attivity of running the School. 37 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 STAFF COSTS (including related party transactions) 2024 2023 The average number employed by the company within each category of persons was: Teaching staff Support staff 413 175 400 165 588 565 The costs incurred in respect of these employees were: Wages and salaries Social Security costs Pension costs Termination payments 24.633.348 2.728.591 5,391,039 8,483 23,351,999 1589,796 5,002,278 33,756 £32,761,461 £30,977,829 Aggregate employee benefits of 9 (2023: 8) key management personnel £1,801,057 £1,776,051 2024 2023 The number of higher paid employees was: Taxable emoluments band: £60,000 - £70.000 £70,000 - £80.000 £80,000 - £90.000 £90,000 - £100.000 £ i 00,000 - £ I i 0,000 £110.000- £120,OC £120,000 - £130,000 £140.000 - £150,000 £150,000 - £160,000 £160,000 - £170,OIXI £170,000 - £180,000 £180.000 - £190,000 £190.000 - £200,000 £210.000 - £220,000 £390,000 - £400,000 £400,000 - £410.000* 52 50 18 14 40 13 The number with retirement benefits accruing was: 147 126 * For this member of staff, emoluments includes a contribution in lieu of employer's pension contributions, without which would result in pay bein8 in £340,000-£350,000 band. During the year the School obtained, within its general Insurance, professional indemnity and governors liability insurance cover of £ l 0.000,000 (2023.. £10,000,000). In addition to the remuneration paid to the key management personnel, the School provides fee remission to staff typical of the independent sector. loans to assist in house purchasing and accommodation to staff who are entitled to accommodation by virtue of their role. Other expenditure includes an amount of £299 which relates to trdvel expenses for one member of the Governing Body (2023: £283 for one member). 38 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 No Governors received any remuneration or benefits other than the expense5 disclosed above from the School or any connecced organisation. There are Governor5 during the year who have pupils at the School. the arrangements are on the same basis as for other parents at the school. During the ye%r, in addition to the costs within the detail on page 16 associated with the London Academy of Excellence Tottenham (LAET). £379.871 {2023. £467,211) was raised through Highgate's Developmenr team on behalf of LA￿ and transferred to them accordingly. The Head, Bursar and two Governors from Highgace are governors at LA￿. There were no other related party transactions during the year. TANGIBLE FIXED ASSETS Freehold Land Equipment and Permanent and Motor Buildings Vehicles Total COSTNALUATION At l August 2023 Additions Disposals 147,527,511 650.783 145,448,146 609,869 2,079,365 40,914 At 31 July 2024 148,178,294 146.058.015 2.120.279 DEPRECIATION At l August 2023 Charge for the year Disposals 44.199.587 3,001,458 42,224,945 2,903,750 1,974,642 97,708 At 31 July 2024 47,201,045 45,128,695 2,072.350 NET BOOK VALUE At 31 July 2024 £100.977.249 £100,929,320 £47,929 At 31 July 2023 £103.327.924 £103,223,20 £104,723 The ori&nal land and buildings of the School are subject to a permanent endowmenL See Note 12. Depreciation calculated on a historical basi5 would be lower by £495,700 than the amount shown above (2023: lower by £495,700)- 39 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 FIXED ASSET INVESTMENTS Total 2024 Total 2023 Endowment Market value At l Augusc 2023 Additions Disposals Revaluations 1,651,901 978.095 (903,438} 119,601 1,651,901 978,095 (903,438) 119,601 1,661.639 360,782 (347.881) (22,639) 1.846.159 1,846,159 1,651.901 Cash awaiting investment 23.086 23,086 28,288 At 31 July 2024 £1,869,245 £1,869,245 £1,680.189 STOCKS 2024 2023 Caterin& cleanin& stationery £53,957 £57,373 DEBTORS 2024 2023 Fee5 Loan5 to employees Prepayments and accrued income Other debtors 552,109 113,000 2,061,099 243,016 946,501 110,747 3,285,634 77,028 £2,969,224 £4.419.910 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 10. CASH AT BANK AND IN HAND 2024 2023 PAnk deposit and current accounts £60.843,181 £46.557,156 I l& CREDITORS 2024 2023 Fee deposits Fees received in advance Advance Fees Audit & accountancy Accruals and deferred income Other creditors 3,206,800 4,468,335 3,757.285 44,000 4,016,121 565,359 2.484.800 2,849,692 1,386,305 36,000 4,201,660 443,195 16,057,900 11,401,652 Due after one year Advance Fees Pension provision Other Loans 6,995.963 1,393,000 60,000,000 2.666,814 1,461.000 60.000,000 Total creditors £84,446,863 £75.529,466 On the 24 July 2019, the School entered into a privats placement lor £60m funding paid to the School in three trxnches to assist in the financing of the School's capital programme. The fir5c drawdown of £20m was received on 24 July 2019 with an interest rate of 3.01 % repayable on the 24 September 2054. The second drawdown totalling £40m was received on 24 September 2019,. £ l Om with an interest rate of 2.90Yo repayable on the 24 September 2044 and £30m with an interest rate of 2.947& repayable on the 24 September 2049. For all three tranches the first interest payment was made on 24 March 2021 and will continue at six-monthly inte￿al$ thereafter. At 31 July the School had the following annual commitments under non-cancellable operating leases: 2024 2023 Leases expiring within l year Leases expiring between 2 - 5 years Leases expiring greater than 5 years 14,504 16,655 18.550 13.038 31,159 31,588 41 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 I I b. ADVANCE FEES 2024 2023 After 5 years Within 2 to 5 years Within I to 2 years 400,489 3,556,875 3,038.599 124,069 1.524,696 1,018,049 6,995,963 3,757,285 2,666.814 1.386,305 Within l year £10.753.248 £4,053.119 2024 The movements during the year on the accrued liability under the contracts were: Balance at l August 2023 New contracts 4,053.119 8.283,243 12.336,362 (1,583,114) Amounts utilised in payment of fees: To the school £10,753,248 42 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 ENDOWMENT FUNDS Balance at l August 2023 Transfers Between Funds Balance at 31 July 2024 Net incomel (expenditure) Investment Properry Fund Sinking Fund Prize Fund Furnival Jones Library Fund Arthur {Bill) and Beryl Field Memorial Bursary Fund Zikel Music Fund 27,789,363 300,005 561,065 26,617 508,962 27,789,363 333,788 640,052 29,546 564,974 381 17,241 33,402 61,746 2,929 56,012 80,750 8,887 89,637 29,266,762 17,622 162,976 29,447,360 PRIOR YEAR (2023): Bajance at l August 2021 Transfers Between Funds Balance at 31 July 2023 Net incomel (expenditure) Investment gain5(105ses) Property Fund Sinking Fund Prize Fund Furnival Jones Library Fund Arthur (Bill) and Beryl Field Memorial Bursary Fund Zikel Music Fund 27,789,363 297,015 564.238 27,491 525.675 27,789,363 300.005 561,065 26.617 508.962 379 14,766 2.611 (17,939) (874) (16,713) 83,402 (2,652) 80,750 £29.287,184 £15,145 £(35.567) £29,266,762 Fund: Represents the net book value as at 31 July 2016 of the endowed property of the School, principally constituting the main Island Sitr. Sinkin Fund: Represents the recoupment required under a Charity Commission scheme on rhe utilisation of endowed funds in earlier year5 which expired in 2022. L￿F￿nd. Represents donations received where the capital element was to be retained and the income arising ri utilised for awards to pupils. s Libra Fund.. Represents a donation received where the capital element was to be retained and the income arising utili5ed for the library. ur l Field Memorial Bursa assistance at the discretion of Governors. a fund established from which the income is to provide bursarial Zikel Music Fund: A fund established from which the income be used for or towards music tuition (including the hire of the associated instrument) for a promising pupil entering the school who would not otherwise be able to afford the cost of such tuition. 43 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 13. RESTRICTED FUNDS Balance at l August 2023 Transfer$ Between Funds Balance at31 July 2024 Net incomel (expendsture) Investment gainsl(lo$$es) Furnival Jones Library Fund Outreach Projett Robin Barnard Bequest Bursary Fund LAET Digital Access Open Door Arthur (Bill) and Beryl Field Memorial Bursary Fund Hardship Fund Other Funds Buildings Fund Refugee Fund 4.552 67.884 29.750 2.702.275 266.038 28,651 54,431 73.647 818 (3,236) 5.370 64,648 29.750 2,020,575 175,882 13,711 54,431 89.287 (681,700) (90,156) (14.940) 15.640 74,579 11,393 201.250 32,962 74,579 11,393 1,250 23,226 (200.000) (9,736) 3.547,412 (983,310) 2,564,102 PRIOR YEAR (2023): Balance at l August 2022 Transfers Between Fund5 Balance at31 July 2023 Net Incomel (expenditure) Investment gainsl(losses) Furnival Jones Library Fund Outreach Project Robin Barnard Bequest Bursary Fund LAET Digtal Access Open Door Arthur (Bill) and Beryl Field Memorial Bursary Fund Learning Support Fund Hardship Fund Other Fund5 Mental Health Fund Buildings Fund Refugee Fund 3.833 10,773 29,750 2,629.037 618.126 28.651 54.431 719 4.552 67,884 29.750 2.702.275 266,038 28,651 54,431 73.238 {352,088) 59,890 72,181 74,579 11,393 77,814 201,250 15.134 13,757 (72,181) 73,647 74,579 11,393 (77,814) 201,250 32,962 17,828 £3,886,842 £(339.430) £3,547,412 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 13. RESTRICTED FUNDS (continued) Libra Fund: donations received towards the improvements in library facilities at Highgate School. Robin Barnard B uesL for the benefit of pupils wishing to pursue careers in medicine or science. Bursa Fund- donations received from fundraising to be used to fund future bursaries at the School. hPro ital P and E-learnin Fund donations received for the purposes described in the fijnd name. enD oLr: donation received to encourage pupils in their explanation or understanding of the Christian faith. Arthur and l Field Memorial Bur nd: see Note 12. Zikel Music Fu see Note 12. ital Ac donations received to help children at our partner schools who hxve little or no access to a computer. LAET: A fund following a Gala event and other donations throughout the year to raise money for London Academy of Excellence Tottenham (LAET). Hardshi Fund: donations received to help families who are struggting to pay fees due to unforeseen circumstances. Other.. donations received for CCF and PPSIJS. Learnin . donation received for additional staffing to strengthen Learning SupporL Men l H Ith: donation received towards staffing costs for enhanced mental health provision. Buildin Fund: donation received to help develop the buildingslfabric of the School. 14. UNRESTRICTED FUNDS Batance at l August 2023 Transfers between funds Investment gainsl (1055es) Balance at 31 July 2024 Net incomel (expenditure) ated Funds Properry Fund 47,698,912 1555,619 50,254,531 General Fund Revenue Reserve 2,555,619 (2.555.619) TOTAL 47,698,912 2,555,619 50,254.531 PRIOR YEAR (2023): Balance at l August 2022 Transfers Between Funds Investment gainsl (losses) Balance at 31 July 2023 Net incomel (expenditure) d Fund Property Fund 46.738,628 960,284 47,698.912 neral Funds Revenue Reserve 960,284 {960.284) TOTAL 46,738.628 960,284 47.698,912 The Properry Fund reflects the net book value of unre5tritted fixed assets together with the proceeds of a55et disposals which the Governors intrnd to reinvest in fixed assets. 45 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 15. ANALYSIS OF THE NET ASSETS BETWEEN FUNDS Net Current Assets less Llabilities Fixed Assets Long term Liabilities Investments Total Endowment Funds Restricted Funds Unrestricted General Designated 27,789,363 1,869,245 (211,248) 2,564.102 29.447,360 2,564,102 73,187.886 45,455,608 (68.388.963) 50,254.531 100,977,249 1.869.245 47,808,462 {68,388,963) 82,265.993 PRIOR YEAR (2023): Net Current Assets less Liabilities Fixed Assets Long term Liabilities Investments Total Endowment Funds Restricted Funds Unrestricted . General Designated 27.789.363 1,680,189 (202,790) 3,547,412 29,266,762 3,547,412 75.538.561 36,288,165 (64,127,814) 47,698,912 103,327,924 1,680,189 39.632.787 (64,127.814) 80,513,086 16. CAPITAL COMMITMENTS 2024 2023 Authorised and COntrac￿d for £3,233,985 £152,765 17. PENSION COMMITMENTS Teachers. Pension Scheme The School participates in the Teachers. Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £3,925,119 {2023: £3,461,935) and at the year-end £Nil (2023 - £Nil) was accrued in respett of contributions to this scheme. The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers, Pensions Regulation5 2010 (as amended) and The Teachers. Pension Scheme Regulations 2014 (as amended). Member5 contribute 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 paid by public funds provided by Parliamen¢ The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government ActU2ry's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. 46 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 17. PENSION COMMITMENTS (continued) Teochers, Pension Scheme (continued) Following the Mccloud judgemenE the remedy proposed that when benefits become payable, eligtble members can 5elett to receive them from either the reformed or legacy schemes for the period l April 2015 to 31 March 2022. The actuaries have assumed that members are likely to ch005e the option that provides them with the greater benefits, and in preparing the 2020 valuation have valued the 'greatsr V￿Ue, benefits for groups of relevant members. The employer contribution rate for the TPS is 28.6Yo, and employers are aiso required to pay a scheme administration levy of 0.08% giving a total employer contribution ra￿ of 28.68Y.. Support Staff Pension Scheme With effett from l December 2022, Support Staff have been offered membership of the Aviva Pension Trust for Independent Schools (Aiyfis), a defined contribution pension scheme. Prior to that date. Support Staff were able to join the Independenc School's Pension Scheme (ISPEN). ISPEN is a multi- employer defined benefit scheme. The last formal valuation of the scheme was performed as at 30 September 2020 by a professionally qualified actuary using the Projected Unit Method. The market value of the scheme's assets ac the valuation date was £201. I million. The valuauon revealed a shortfall of xssets compared with the value of liabiliues of £55.2 million. Following consideration of the results of the actuarial valuation, it was agreed that the shorrfall of £55.2 million would be dealt with by the payment of deficit contributions. from all participating employers allocated in line with their estimated Share of the scheme liabilities. of £2.7 million per annum from I September 2022 to 30 June 2032. As atyear-end the amounts recognised within creditors in line with the repayment schedule for the deficit contributions are noted within Note I l. These balances are £219.000 (2023: £213,000) due in less than one year and £1,393,000 (2023: £1,461,000) due in more than one year. There is a Potenti￿ debt on the employer thac could be levied by the Trustees of the scheme. The debt is due in the event of the employer ceasing to participate in the scheme or the scheme winding up. Highgate School has been notified by the Pensions Trust of the estimated employer debt on withdrawal from the Independent Schools, Pension Scheme based on the financi￿ position of the Scheme as at 30 September 2023. As of this date the estimated employer debt was £6,598.089. As in prior years and best prattice. this amount is not provided for in the accounts as the School has not fully withdrawn from the scheme. 47 HIGHGATE SCHOOL NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 JULY 2024 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVE FIGURES BY FUND General Fund$ Deslgnated Restrlcted Endowment Funds Funds Funds Total 2023 Note$ INCOME FROM: Charitdble ttrtlvltles School fees receivable Other educational income Ancillary trading income Investments Bank and other interest Investment income Voluntary sources Donations 42,084,977 626,751 2,272,406 42,084,977 626,751 1271406 1,487,477 5,842 1,487,617 37,506 16,659 15,005 57,095 813.793 870,888 TottTI Income 46.534,548 830,452 15,145 47.380.145 EXPENDITURE ON: Ralslng fvnds Fundraising and development Finance costs Chorltoble octlvltle$ School operdting costs 204,643 1,774,000 204,643 1.774,000 43,595.621 1,169,882 44,765,503 Total expendlture 45.574.264 1,169,882 46,744,146 NET INCOME 960,284 {339,430) 5,145 635,999 Gains on investment a55ets Transfers between funds {35,567) (35,56T) {960,284) 960,284 Net movement In funds 960,284 (339,430) (20,422) 600,432 Balances brought forward at l August 2022 46,738,628 3.886,842 29,287,184 79,912,654 Balances carried forward at 31 July 2023 47,698,912 3,547,412 29,266,762 £80,513.086 48