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2023-08-31-accounts

Edgbaston High School for Girls DIRECTORS, OFFICERS AND STATUTORY INFORMATION

PRESIDENT

Sir Dominic Cadbury BA, MBA

VICE PRESIDENTS

Mr DJ Cadbury MSc, DSW, CQSW

Her Honour Judge S Thomas LLB

Mr Ian Marshall BA Cambridge

GOVERNING BODY:

Directors appointed by the shareholders, who are also the trustees of the charity, since 1 September 2022:

Mr M Chitty BA Hons -Chair

Mrs A Howarth - Deputy Chair -appointed 06/09/2022

Member of the Education & Welfare Committee:

Mrs A E S Howarth {Chair)

Mr C Pritchard

Mrs S Priest MA MRICS

Mrs S Robinson

Member of the Finance & General Purposes Committee:

Mr T GM Downing {Chair)

Mrs C Diamente

Mrs A Solanki - resigned 06/02/2024 Mr M Chitty BA Hons

Mr A H Fawzy - appointed 13/12/2023

Ms C Robinson - appointed 09/01/2024

Member of the Governance & Compliance Committee:

Mrs L Smiley (Chair)

Mrs S Parveen

Mrs R Matambo - Resigned 17/04/2023

Mr G Scott (Oxon) Mr C Southgate - appointed 13/12/2023

School Ambassador: Mrs C Fatah

OGA {Old Girl's Association renamed "Laurels" during the year 22-23) representative: Mrs Anne Lacey and Mrs Elizabeth Hartley

EHSPA (Edgbaston High School Parents Association) representative: Serna Awan

Page2

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF EDGBASTON HIGH SCHOOL FOR GIRLS

Opinion

We have audited the financial statements of Edgbaston High School for Girls (‘the charitable company) and its subsidiary (the ‘group’) for the year ended 31 August 2023 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 18

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF EDGBASTON HIGH SCHOOL FOR GIRLS

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken during our audit

Matters on which we are required to report by exception

In light of our knowledge and understanding of the group and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

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

Responsibilities of trustees

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

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

Auditor’s responsibilities for the audit of the financial statements

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

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

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.

Page 19

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF EDGBASTON HIGH SCHOOL FOR GIRLS

The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, General Data Protection Regulation (GDPR), Health and safety legislation, and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Audit and Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

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

Use of our report

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

Kerry Brown Senior Statutory Auditor For and on behalf of Crowe UK LLP Black Country House, Rounds Green Road Oldbury West Midlands B69 2DG

Date: 1 May 2024

Page 20

Unrestricted Endowment Totalfunds Totalfunds
funds funds 2023 2022
£ £ £ £
INCOMEANDENDOWMENTS
FROM:
Charitableactivities 11,723,737 11,723,737 10,839,396
Othertradingactivities 128,270 128,270 121,526
Investments 242,928 242,928 124,781
Total 12,094,935 12,094,935 11,085,703
EXPENDITUREON:
Raisingfunds 37,536 - 37,536 45,409
Charitableactivities:
-Educationalcosts 7,688,170 7,688,170 7,221,981
-Establishmentcosts 1,957,904 - 1,957,904 1,763,637
-Supportcosts 1,965,617 1,965,617 1,406,267
-Awardsmade
Total 11,649,227 - 11,649,227 10,437,294
Gains/(losses)oninvestments: (131,719) (131,719) (273,443)
TRANSFERS - - 1,606
NETINCOME/(EXPENDITURE) 313,989 - 313,989 376,572
NETMOVEMENTINFUNDS 313,989 313,989 376,572
BALANCEBROUGHT 21,746,033 9,662 21,755,694 21,379,122
FORWARD
BALANCECARRIEDFORWARD 22,060,022 9,662 22,069,683 21,755,694

2023 2022
£ £
Grossincome 12,094,935 11,085,703
Totalexpenditure (11,649,227) (10,437,294)
Netincome 445,708 648,409
Gains/(losses)ondisposaloffixedassetinvestments 11,251 54,877
NETINCOME/(EXPENDITURE)FORTHEYEAR 456,959 703,286

Notes 2023 2022
£ £
FIXEDASSETS
Tangibleassets 11 12,547,058 12,459,077
Investments 12 4,813,734 4,631,679
17,360,792 17,090,756
CURRENTASSETS
Debtors 14 482,725 484,487
Cashatbankandinhand— unrestricted 6,172,946 5,629,147
-restrictedfundsand 9662 9,662
endowment
6,665,333 6,123,296
CREDITORS:Amountsfallingduewithinoneyear 15 (1,956,442) (1,458,358)
NETCURRENTASSETS 4,708,891 4,664,938
TOTALNETASSETS 22,069,683 21,755,694
Endowmentfunds 18 9662 9,662
Designatedfundsandcalledupsharecapital 19 14,800,378 14,712,396
Otherfunds 19 7,259,643 7,033,636
TOTALCHARITYFUNDS 22,069,683 21,755,694

Notes
2023		 2022
£ £
FIXEDASSETS
Tangibleassets 11 12,547,058 12,459,077
Investments 13. 4,907,941 4,725,886
17,454,999 17,184,963
CURRENTASSETS
Debtors 14 619,905 621,403
Cashatbankandinhand— unrestricted 5,913,413 5,343,916
-restrictedfundsand 9,662 9,662
endowment
6,542,980 5,974,98)
CREDITORS:Amountsfallingduewithinoneyear 15 (1,950,607) (1,454,038)
NETCURRENTASSETS 4,592,373 4,520,943
TOTALNETASSETS 22,047,372 21,705,906
Endowmentfunds
Designatedfundsandcalledupsharecapital		 18
20		 9,662
14,800,378		 9,662
14,712,396
Otherfunds 20 =7,237,332 6,983,848
TOTALCHARITYFUNDS 22,047,372 21,705,906

2023 2022
£ £
Cashflowsfromoperatingactivities:
Netcashprovidedbyoperatingactivities 1,190,591 605,434
Cashflowsfrominvestingactivities:
Dividendsandinterestfrominvestments 242,928 124,781
Purchaseofproperty,plantandequipment (575,946) (377,557)
Proceedsfromsaleofinvestments
-Endowment
-Unrestricted 661,704 486,297
Purchaseofinvestments
-Endowment
-Unrestricted (975,478) (485,535)
Netcashusedininvestingactivities (646,792) (252,014)
Cashflowsfromfinancingactivities:
Endowmentincome
Expenditureonendowment
Netcash(usedin)/generatedbyfinancingactivities
Changeincashandcashequivalentsinthereporting 543,799 353,420
period
Cashandcashequivalentsatthebeginningofthe 5,638,809 5,285,389
reportingperiod
Cashandcashequivalentsattheendofthe 6,182,608 5,638,809
reportingperiod
Reconciliationofnetincometonetcashflowsfrom
operatingactivities
Netincomeforthereportingperiod 313,989 376,573
Adjustmentsfor:
(Gains)/lossesoninvestments 131,719 273,443
Depreciationcharges 487,965 481,346
Lossanddisposaloffixedassets

Dividendsandinterestfrominvestments (242,928) (124,781)
(Increase)/decreaseindebtors 1,761 (33,098)
Increaseincreditors 498,085 (368,049)
Netcashprovidedbyoperatingactivities 1,190,591 605,434
Analysisofcashandcashequivalents 2023 2022
£
Cashatbank 6,182,608 5,638,809
Totalcashandcashequivalents 6,182,608 5,638,809

Longleaseholdproperties - overtheunexpiredterm oftheleaseatthepointofaddition
Fixturesandfittings - over5 years
Plantandmachinery - over5 to10yearsona straightlinebasis
ICThardware - over5 years

Unrestricted Endowment Restricted Totalfunds
funds funds funds 2022
£ £ £ £
INCOMEANDENDOWMENTS
FROM:
Charitableactivities 10,839,396 10,839,396
Othertradingactivities 121,526 - 121,526
Investments 124,781 124,781
Total 11,085,703 11,085,703
EXPENDEDITUREON:
Raisingfunds 45,409 45,409
Charitableactivities
-Educationalcosts 7,221,981 7,221,981
-Establishmentcosts 1,763,637 - - 1,763,637
-Supportcosts 1,406,267 - 1,406,267
-Awardsmade
Total 10,437,294 10,437,294
(Losses)/gainsoninvestments (273,443) (273,443)
TRANSFERS 1,606 1,606
NETINCOME/(EXPENDITURE) 376,572 - 376,572
NETMOVEMENTINFUNDS 376,572 - 376,572
BALANCEBROUGHTFORWARD 21,369,460 9,662 21,379,122
BALANCESCARRIEDFORWARD 21,746,032 9,662 21,755,694

2 INCOMEFROMCHARITABLEACTIVITIES 2023 2022
£ £
Schoolfees 10,542,846 10,087,884
Registrationfees 27,722 26,463
AfterSchoolcover 64,449 59,414
Cateringincome 598,795 575,398
Otherincomefromcharitableactivities 489,925 90,237
11,723,737 10,839,396
SCHOOLFEES 2023 2022
£ 2
TheSchool’sfeeincomecomprised:
Grossfees 11,622,063 ‘11,137,376
Less:Totalbursaries,scholarshipsandallowances (1,079,217) (1,049,492)
10,542,846 10,087,884
OTHERTRADINGACTIVITIES 2023 2022
S S
Hireofschoolfacilities 128,270 121,526
INVESTMENTINCOME 2023 2022
£ £
Incomefromlistedinvestments 140,058 124,153
Bankinterestandinterestonshorttermdeposits 102,870 628
242,928 124,781
6 INVESTMENTCOSTS 2023 2022
£ £
Investmentmanagement 37,536 45,409
2023 2022
Staffcosts |Othercosts Depreciation Total Total
£ £ £ £ £
Charitableactivities:
Educationalcosts 7,145,568 542,602 7,688,170 7,221,981
Establishmentcosts 913,278 1,044,626 - 1,957,904 —1,763,637
Supportcosts 507,515 970,138 487,964 1,965,617 1,406,267
Total— 2023 8,566,361 2,557,366 487,964 11,611,691 10,391,885
Total— 2022 8,023,247 1,887,293 481,345

8 NETINCOME Unrestrictedfunds Unrestrictedfunds
2023 2022
£ £
Netincomeisstatedaftercharging:
Depreciationandamountswrittenofftangiblefixedassets:
Chargefortheyear:ownedassets 487,964 481,345
Operatingleaserentals:
Landandbuildings 1,870 1,792
Plantandmachinery 17,261 17,261
Auditor'sremuneration:
Auditfeescurrentyear 21,690 18,900
Nonauditservices
TrusteeIndemnityInsurance 268 268
9 EMPLOYEES 2023 2022
No No
TheaverageweeklynumberofpersonsemployedbytheSchool
duringtheyear was:
Teachingandalliedstaff 148 143
Others 71 72
219 215
2023 2022
£ £
Staffcostsforabovepersons:
Wagesandsalaries 6,635,216 6,199,927
Socialsecuritycosts 662,866 618,452
Otherpensioncosts 1,268,279 1,166,983
8,566,361 7,985,362
2023 2022
No No.
£60,000 - £69,999 1 3
£70,000 - £79,999 3 1
£80,000 - £89,999 1 -
£120,000 -£129,999 - ]
£130,000 -£139,999 1

11 TANGIBLEFIXEDASSETS
GROUPANDCOMPANY Plantand
Long machinery
Assetincourse _leasehold andICT
ofconstruction
property		 —_hardware Total
£ £ £
Cost
1September2022 172,176 16,820,303 4,286,519 21,278,998
Additions 161,419 414,526 575,945
Disposal : - (192,279) (192,279)
Transfers (172,176) 142,053 30,123 -
31August2023 17,123,775 4,538,889 21,662,664
Depreciation
1September2022 5,129,706 3,690,215 8,819,921
Chargedintheyear 311,424 176,540 487,964
Disposal . (192,279) (192,279)
31August2023 5,441,130 3,674,476 9,115,606
Netbookvalue
31August2023 11,682,645 864,413 12,547,058
31August2022 172,176 =11,690,597 596,304 12,459,077

12 FIXEDASSETINVESTMENTS Unrestricted =Endowment
GROUP Funds Funds
Listed Listed Total
£ £ £
Marketvalue
1September2022 4,631,679 4,631,679
Additions 975,478 975,478
Disposals (661,704) (661,704)
Netinvestmentlosses (131,719) (131,719)
31August2023 4,813,734 4,813,734
Historicalcostasat31August2023 4,465,386 4,465,386
Historicalcostasat31August2022 4,143,836 4,143,836
13 FIXEDASSETINVESTMENTS Unrestricted Endowment
COMPANY Unlisted Funds Funds
(subsidiary) Listed Listed Total
£ £ £
Marketvalue
1September2022 94,207 4,631,679
4,725,886
Additions
Disposals
Netinvestmentlosses		 - 975,478
(661,704)
(131,719)		 975,478
(661,704)
(131,719)
31August2023 94,207 4,813,734 - 4,907,941
Historicalcostasat31August 100,000 4,465,386 - 4,565,386
2023
Historicalcostasat31August 100,000 4,143,836 - 4,243,836
2022

Name Countryof Classof —Proportion Nature
incorporation holding held of
business
EHS(PropertyServices)Limited England Ordinary 100% Hireof
Companyno.02660124 school
facilities
Splitofinvestmentsbetween UKandoverseas:
Marketvalue Unlisted Listed Endowment Total
£ £ £
UK 94,207 1,523,967 1,618,174
Overseas 1,862,743 1,862,743
Global 1,427,024 1,427,024
94,207 4,813,734 4,907,941

GROUP COMPANY COMPANY
14 DEBTORS 2023 2022 2023 2022
£ £ £ £
Duewithinoneyear:
Feesanddisbursements 82,176 129,722 82,176 129,722
Otherdebtors 154,013 119,232 110,823 85,584
Prepayments 246,536 235,533 246,536 235,533
Amountduefromsubsidiary - 180,370 170,564
Undertaking
482,725 484,487 619,905 621,403

GROUP COMPANY COMPANY
15 CREDITORS:Amountsfallingdue 2023
2022		 2023 2022
withinoneyear £
£		 £ £
Tradecreditors 256,821 229,184 256,821 229,184
OtherCreditors 373,133
384,936		 373,133 384,936
Accruals 107,972
245,565		 102,137 241,245
Deferredincome 1,218,516
598,673		 1,218,516 598,673
1,956,442
1,458,358		 1,950,607 _—«'1,454,038
DEFERREDINCOME 2023 2022
GROUPANDCOMPANY £ £
1September 598,673 —«‘1,565,213
Additions 1,218,516 598,673
Released (598,673) (1,565,213)
31August 1,218,516 598,673
Deferredincomerelatestoschoolfee incomereceivedinadvanceofeducationto be
providedinfutureyears.
COMPANY
16 FINANCIALINSTRUMENTS 2023 2022
£ £
Financialassets:
Equityinstrumentsmeasuredatfair
value 4,813,734 4,631,679 4,907,941 4,725,886
Netcurent Fund
Fixedassets Investments assets balances
£ £ £ £
Unrestrictedfunds: .
Designatedfunds 12,547,058 2,250,000 3,320 14,800,378
Otherfunds - 2,563,734 4,695,909 7,259643
Endowmentfunds - - 9,662 9,662
12,547,058 4,813,734 4,708,891 22,069,683
Balanceat Transfers Balanceat Balanceat
1September Investment £ 31 August
2022 Income Expenditure gain/(loss) 2023
£ £ £ £ £
Special fundsand awards:
Prizes and
Awards fund 9,662 - - - - 9,662
9,662 - - - - 9,662

Balanceat Gains/ Balanceat
1September (losses)on 31August
2022 Income Expenditure investment Transfers 2023
£ £ £ £ £ £
Designated
funds
Tangible
fixedasset 12,459,077 87,982 12,547,059
fund
Bursariesand
Scholarship
fund 2,250,000 113,548 (131,719) 18,171 2,250,000
Calledup
sharecapital 3,320 3,320
14,712,397 113,548 (131,719) 106,153 14,800,379
General
reserve 7,033,636 11,981,387 (11,649,227) (106,153) 7,259643
Total
unrestricted
funds 21,746,033 12,094,935 (11,649,227) (131,719) 22,060,022
Balanceat Gains/ Balanceat
1September (losses)on 31August
2022 Income Expenditure _investments Transfers 2023
£ £ £ £ £ £
Designated
funds
Tangiblefixed
assetfund 12,459,077 87,982 12,547,058
Bursariesand
Scholarship
fund 2,250,000 113,548 (131,719) 18,171 2,250,000
Calledup
sharecapital 3,320 3,320
14,712,397 113,548 (131,719) 106,153 14,800,378
General
reserve 6,983,847 11,853,117 (11,493,480) (106,153) 7,237,332
Total
unrestricted
funds 21,696,244 11,966,665 (11,493,480) (131,719) 22,037,710

21 SHARECAPITAL 2023 2022
£ £
Equitysharecapital
Authorised:
750ordinarysharesof£10each 7,500 7,500
Allotted,issuedandfullypaid:
332ordinarysharesof£10each 3,320 3,320

Thetotalfutureminimumleasepaym
below:		 entsundernon-c ancellableopera tingleasesareset out
Landand buildings Equipment
2023 2022 2023 2022
£ £ £ £
Withinoneyear 1,870
1,870		 21,163 17,201
Betweenoneandfiveyears 7,480 7,480 83,935
Afterfiveyears 61,710 63,580
71,060 72,930 105,098 17,201

EHS(Property
2023
£		 Services)Limited
2022
£
Managementcharge
ProfitsdistributedfromEHS(PropertyServices)Limited
Amountsdueto/(from)EHS(PropertyServices)Limited		 106,312
43,939
(180,370)		 72,951
11,196
(170,563)
Noneoftheabovebalancesaresecured.
Therearenootherrelatedpartytransactions.
PARENTCOMPANY
Theresultsoftheparentcompanyareasfollows:
2023 2022
£ £
Totalincome
12,094,934 11,085,412
Netmovementinfundsintheyear 313,989 376,573