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2024-08-31-accounts

Edgbaston High School for Girls CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 31 August 2024

Company Registration No. 10631 Charity Registration No. 504011

Edgbaston High School for Girls PRINCIPAL ADVISERS

AUDITORS

CROWE U.K. LLP Black Country House Rounds Green Road Oldbury B69 2DG

BANKERS

HSBC Bank ple Birmingham Commercial Area Ground Floor 12 Calthorpe Road Edgbaston Birmingham B15 1QZ

SOLICITORS

Shakespeare Martineau LLP No 1 Colmore Square Birmingham B4 6AA

INVESTMENT ADVISERS

Evelyn Partner 14% Floor 103 Colmore Row Birmingham B3 3AG

COMPANY NUMBER 10631 (England and Wales) CHARITY NUMBER 504011

REGISTERED OFFICE Westbourne Road Edgbaston Birmingham B15 3TS

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Edgbaston High School for Girls

DIRECTORS’ REPORT (including strategic report) PRESIDENT Sir Dominic Cadbury BA, MBA

VICE PRESIDENTS Mr D J 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

Member of the Education & Welfare Committee: Mrs A E S Howarth (Chair) MrC Pritchard Mrs S Priest MA MRICS - Resigned 26/06/2024 Mrs S Robinson Mr Qamar Riaz — Appointed 01/12/2024

Member of the Finance & General Purposes Committee: Mr T G M Downing (Chair) Mrs C Diamente — Resigned 24/06/2024 Mr Chitty BA (Hons) Mr H Fawzy FCCA, FCMA, FCA (SL), MBA (NUS) — Appointed 13/12/23 Ms C Robinson BSc (Hons), GMBPSs, FCA— Appointed 01/01/24 Mr Asif Istaq — Appointed 01/12/2024 Mr Khaled Rahman — Appointed 01/12/2024

Member of the Governance & Compliance Committee: Mrs L Smiley (Chair) Mrs S Parveen Mrs Hannah Bushell — Appointed 01/12/2024 Mrs Tejpreet Bansel-Branch — Appointed 01/12/2024 Mr G Scott M.A(Oxon) Mr C Southgate

HEADMISTRESS Mrs C Macro

HEAD OF PREPATORY SCHOOL Mrs N Hobson

FINANCE DIRECTOR & COMPANY SECRETARY Mrs B Kail ACMA

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Edgbaston High School for Girls

DIRECTORS’ REPORT (including strategic report)

The members of the Governing Body, who are the charity trustees and directors of the company for the purposes of company law, present their annual report and financial statements for the year ended 31 August 2024. The Governing Body has adopted the provisions of Charity Statement of Recommended Practice (SORP) (FRS102) in preparing the annual report and financial statements of the charity.

The Annual Report covers Edgbaston High School for Girls and its subsidiary EHS (Property Services) Limited.

REFERENCE AND ADMINISTRATIVE INFORMATION

The School was founded on 25 May 1876 as a private company limited by shares. The founders were a group of philanthropic Birmingham businessmen and civic dignitaries, who were concerned at the limited opportunities for the education of young girls in Birmingham at that time. The School was originally situated in a set of private buildings near Five Ways and moved to its current purpose-built premises in 1962. The members of the Governing Body, Headmistress, professional advisers and the principal address of the charity are listed on pages 1 and 2.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Instruments

As a private company limited by shares, the School has a Memorandum and Articles of Association. Its company number is 10631. It is also a registered charity, number 504011.

School Governing Body

The Full Governing Body passed a new resolution in October 2024 in view of changing the Articles of Association

Recruitment and training

New members of the Governing Body are recruited to fill vacancies which occur on the Skills Matrix. New members are offered induction briefings by the Headmistress. All members of the Governing Body are encouraged to attend appropriate training events. An annual training day with update training for the whole Governing Body takes place usually in May. The topic for this year’s training was on equality, diversity and inclusion.

Organisational Management

The full Governing Body, as trustees of the charity, are legally responsible for the overall management and control of the School. They meet a minimum of three times per year, with at least one meeting per academic term. The Committees meet on a minimum of three occasions per year, normally before the main governing body and makes recommendations. The Headmistress and the Finance Director attend all Full Governing Body meetings.

The Governing Body determines the general policy of the School and delegates day-to-day management to the Headmistress.

The pay and remuneration of the Head is set by the Finance & General Purposes Committee.

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Group Structure and Relationships

Connected Parties

The School benefits from the generosity of both the EHSPA and a network of old girls. The OGA is an association of former pupils of the School, which offers former pupils the opportunity to maintain friendships, continue interests and remain in contact. The EHSPA organise social and other events; using any surpluses made for the benefit of the School. We greatly appreciate and acknowledge the support offered.

Other Relationships

The School also strives to optimise the use of its cultural and sporting facilities by local charities and other organisations. It encourages its pupils to participate in both the local and wider community.

Employment of the Disabled

The School is committed to securing equality of opportunity through the creation of an environment in which individuals are treated solely on the basis of their relevant merits and abilities. All members of staff and Governing Body share this commitment. The School does not permit any offensive, discriminatory or hostile attitudes to be displayed by any person or group towards an individual with a disability.

The School’s policy is to recruit disabled workers for those vacancies that they are able to fill, providing all necessary assistance with initial training and continuing career development to ensure suitable opportunities for each disabled person.

Arrangements would be made, when necessary, for retraining employees who become disabled to enable them to perform work appropriate to their aptitudes and abilities.

The School has an Accessibility Policy and Plan which are reviewed every 2 years.

Employee involvement

The School’s policy is to consult employees, through regular staff meetings, on matters likely to affect employees’ interests. Information on matters of concern to employees is given through bulletins, reports and presentations which seek to achieve a common awareness on the part of the employees of the financial and economic factors affecting the School’s performance. The School’s academic staff hold regular meetings and presentations throughout the year. The non-teaching staff also meet on a regular basis. The school has put a Wellbeing Committee in place. The committee meets termly and all areas of the school are represented along with a member of the Governing Body.

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report) STRATEGIC REPORT

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

Charitable Objects

The formal object of the School is:

To establish for charitable purposes only and to maintain a public day school or schools for the education of girls and boys and to supply general instruction of the highest class.

Aims and Intended Impact

In furtherance of its objects, the School continues to follow the founders’ vision of providing a challenging, liberal education for girls, which combines academic rigour with a breadth of skills. The acquisition of knowledge coupled with a wide range of other accomplishments remains the School’s aim. The School has a strong pastoral ethos.

Objectives for the Year

The School’s primary objectives for the year have been:

Strategies to Achieve the Year’s Objectives

The School has a three-year Strategic Development Plan, from which an annual plan is produced for each academic year. The annual plan for 2023-2024 has focussed on the following key themes:

Principal Activities during the Year

The principal activity of the charity has been the provision of single-sex education for girls between the ages of 2% and 18. In addition, it has run holiday clubs during all school holidays for the younger pupils.

Public Benefit

The directors have complied with the duty of the Charities Act 2011, to have due regard to public benefit guidance published by the Charity Commission. As well as providing education in accordance with the Charitable Objects set out above, the charity provides bursaries, community access, work experience and community services as set out on pages 7 to 8.

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES (continued)

1. Admissions Policy

Access to an Edgbaston High School education is made possible through the allocation of means tested bursaries to those who pass our entrance examination but are unable to pay the full fees. The availability of these bursaries is outlined in our admissions policy on our web site.

2. Bursary Provisions

The School has a comprehensive policy on means tested bursaries which are available on application to all who pass our entrance examination to the senior school. The equivalent of 2 places are available as bursary support within the Sixth Form, and 3 places for Year 7 entry.

The school introduced in 21-22 a Bursary for children entering Reception equivalent to five full fee places. Existing pupils, who attend Nursery and Kindergarten are eligible to apply for these bursaries as well as pupils applying to join in Reception. If awarded, the bursary in Reception commences after the pupil is no longer eligible for 15 free hours of childcare.

In year 3, Bursaries equivalent to 3 full fee places can be awarded annually to those entering the year group. As with Reception bursaries, existing pupils and new entrants are eligible to apply for the bursaries if they meet the published criteria.

All applications are means tested, taking into account family income, investments and savings and family circumstances e.g. dependent relatives and the number of siblings. The School employs the services of an independent assessor to support this process by making home visits or video calls to all new bursary applicants.

Bursaries are also available to the parents of current pupils who may face hardships such as redundancy or a death in the family.

The School does not have an endowment for bursary funding, and in funding our awards a balance has to be made between fee paying parents, many of whom make personal sacrifices to fund their child’s education, and those who benefit from the awards.

3. Family Discounts

The school offers a sibling discount of 5% for all new pupils at EHS and a further 5% for the 3 and subsequent child.

The school also offers a 5% discount for a pupil whose brother enrolled in their Preparatory School at Westhouse, our local boy’s school. One or both pupils must be new to either school.

4. Scholarship awards and policy

The School allocates funds for the following fees remissions:

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES (continued)

Scholarship and Bursary Assistance In 2023/24 57 (2023: 52) pupils were assisted by means-tested bursaries, corresponding to an average termly cost of £121,632 (2023: £105,278). The number of scholarships received by pupils was 131 (2023: 125), amounting to an average termly cost of £163,696 (2023: £138,314). The continued receipt of scholarships is subject to annual review. Staff allowances and sibling allowances amounted to an average of £98,267 (2023: £92,486) and £22,045 (2023: £21,464) per term respectively.

5. Assistance for Employees

All employees of Edgbaston High School may benefit from a discount scheme should they choose to educate their children at our School.

6. Work Experience

The School offers work experience to students prior to their registration on the PGCE course. We also take students on teaching placements.

7. Community Access

We assist the local community by allowing use of our facilities for a competitive fee where there is no detriment to the education of our pupils. Regular lets include the City Evangelical Church, Stage Coach, swimming clubs and use of the all-weather pitch by local hockey clubs. We also have a partnership with Bartley Green Primary school via our Openreach Programme.

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

1. Pupil Numbers and Fees

Pupil numbers were 870 in the Summer Term 2024. The fee increase for the year was 7% from previous year. Termly fees are as follows:

Westbourne £3,369 Prep £3,369- £4,878 Senior School £5,167 Sixth form £5,250

2. Academic

We are proud of the spirit and resilience our A level students showed as they prepared for their A Level. Their results reflected their hard work and drive to succeed.

Examination results for the 2023/24 academic year were as follows.

At A level the pass rate was 99.5% with 40.3% achieving A/A (well above the national average of 27.8%) and 70% A/B. The value added is still extremely good with a number of girls exceeding their predictive data. 89% (83% last year) of pupils secured their university of choice (either firm or insurance). Two are going off to study medicine and a few moving on to prestigious and highly competitive apprenticeship degrees.

At GCSE, the cohort have achieved our best results for a number of years, and have even managed to surpass the covid grades that we awarded in the summer of 2020. The overall pass rate was 72% at grade 7/8/9 and increase of 10% over last year. 30% of students achieved 10 or more grades at 9,8 and 7. 50% of entries have been awarded 9/8 (equivalent to A*) and the number of entries that have not achieved a pass grade dropped from 4% to 2%

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

REVIEW OF ACTIVITIES AND ACHIEVEMENTS (continued)

3. Other Achievements

The education girls receive at EHS is significantly enhanced through a wide range of carefully designed experiences outside the formal curriculum. In addition to talks, workshops and conferences held in school, a variety of trips at home and abroad contribute to the girls developing a broader knowledge and understanding of the world around them.

4. Extra-Curricular activities

The School runs a wide range of activities for all year groups from Year 1 upwards.

Lunchtime clubs and support groups are complemented by after school sports activities. There is a mixture of academic clubs e.g. Lost in Translation, Classics Clubs but also clubs for enrichment purposes eg Calligraphy, Chinese dancing and model United Nations.

Musical and dramatic productions are staged throughout the year groups each year. During the academic year 23/24 the School has been proud to stage “Robin and the Sherwood Hoodies” involving all pupils in year 6. The Early Years have put together a Christmas production called ‘““Whoops-A-Daisy Angel” and the Year | and 2 performed “Christmas Around the World”

Physical Education plays an important part in School life and we continue to field teams in all major sports for girls and enjoy success in matches and regional championships at all levels.

The education girls receive at EHS is significantly enhanced though a wide range of carefully designed experiences outside the formal curriculum.

5. Community Service

Pupils take part in community service as part of their Duke of Edinburgh award scheme, or as part of the Sixth form enrichment programme. The scheme is growing in popularity year on year with 99 pupils taking part this year. The school offers Bronze to Gold awards.

£11,041.07 was raised for Charity in the year 2023/24 The money raised came froma large variety of events which took place in school and have gone to support charities such as the Edwards Trust, Marie Curie, St Mary’s hospice, Midlands Air Ambulance, British Legion, Cancer Research, Comic Relief, Race for Life, Age UK, Pink day, Red Nose Day, women’s aid to name a few. Small fundraising events were also organised by pupils in school.

The Deputy Head Curriculum and several teaching staff are Governors of a local school.

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

REVIEW OF ACTIVITIES AND ACHIEVEMENTS (continued)

6. Sustainability

The School has Green Flag Status. We have pupil and staff committees throughout the School and are working to increase our sustainability. We continue to focus on recycling and reducing the single use plastic and paper throughout the school. We have also continued our interest in looking at ways of saving energy and reducing our carbon foot print. Senior school has held several clothes donations for charity in order to recycle textiles too. Girls are encouraged to walk to school and for parents to switch off engines and lift share where it is possible,

The Prep School continues to hold the Gold Award on the Woodland's Trust Green Tree Schools Award, for planting trees in the grounds. It also continued to recycle plastic pens and batteries. Also, by using Seesaw, the online learning platform, the Prep School has reduced the amount of paper used. An incredible amount of plastic folders have also been saved by posting the spellings on this platform.

We have pupil and staff committees throughout the School who are working to increase our sustainability, in particular the move to electronic learning has reduced the amount of stationary being used. Our focus this year continues to be on recycling all items that can be recycled, including items of technology. We are also actively encouraging more pupils to walk to school, cycle and scoot.

The School’s allotment is a great asset, providing valuable curriculum and social opportunities for pupils and enabling the School to make greater links with the local community. The site has an open access orchard and the remains of a bothy.

The maintenance of the allotment is maintained by a few regular pupils (Garden Club) and parents look after it during the Summer Holidays and winter months to ensure the garden remains in good condition and safe for the pupils to use. Once again, in 23/24, the young gardeners have won various trophies for the best flowers and vegetables produced in the allotment.

7. Old Girls Association

The EHS Old Girls’ Association (renamed Laurels in 2024) is a vibrant, thriving organisation that links alumni with their friends and peers, while creating an opportunity for members to make connections between alumni/alumnae and current pupils — to ‘give back’.

Laurels is thriving and contributes to the community spirit of the School. Regular events such as the AGM and supper, Carols and Canapes and year group reunions serve to bring together ex pupils and staff along with current members of the School.

8. Edgbaston High School Parents Association

The School receives generous support from the EHSPA which organises social events and uses the profits for the benefit of the School. This year, the EHSPA have contributed to the supply of new books for the Preparatory School, plants to the Senior School to support the school new project of having a Biophilic environment, bicycle helmets, bench jackets and our traditional Christmas trees.

The EHSPA organised various events this year such as the unmissable Firework in November, and the exciting Christmas Tree. These events are always very enjoyable for all as well as generating fund for the school.

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

REVIEW OF ACTIVITIES AND ACHIEVEMENTS (continued)

9. Facilities

The school completed its IT program where all pupils will have access to better and faster Ipads and using the “old” one in the Preparatory School to ensure all year groups have access to computer equipment too. The new IT infrastructure commissioned last year is now complete which will ensure that the school remains modern and forward thinking.

The School has further increased its repair and maintenance programme to provide both pupils and staff a more conductive place of learning and work. During the year, the school has completed phase two of the Senior School Library refurbishment now called the Learning Hub.

The school has continued its various programmes to maintain the fabric of the school by installing more cost and energy efficient boilers, refurbishing pupils toilets, replacing flooring in main hall and more. Looking into the future and being more energy efficient, the school has fitted Energy Efficient lighting throughout the school.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR (Full review)

The consolidated Statement of Financial Activities is on page 17. The surplus or the year was £1,016,538 (2023: a profit of £313,989). There is a net gain on the investment portfolio of £531,531 (2023: £131,719 loss).

The pupil numbers in 23/24 ended with 874, a small increase from the start of the year of 860.

Overall, the net tuition income is 6.3% greater than last year, educational costs have increased by 4.7% and the establishment costs increased by 10.8% over last year’s levels due to the fact the school has continued the maintenance of the fabric of the building programme to ensure the facilities are responding to the need of our pupils.

As a charity the parents of our pupils have the assurance that all the income of the school must be applied for educational purposes, and we enjoy tax exemption on our educational activities and investment income. However, we are unable to reclaim VAT input tax on our costs as we are still exempt for VAT purposes.

Reserves Policy

The School has no endowment income and therefore relies on retained surpluses to meet its future requirements. The trustees have established policies to maintain the following designated reserves:

The trustees also consider prudent to hold unrestricted and undesignated reserves to meet exceptional and unforeseen contingencies of between one and four months of the resources expended, which equated to between £972,500 and £3,890,000 in general funds in 2023-2024. There is a requirement to have some free reserve to remain a going concern and that there are future projects approximatively equivalent to the remaining of the free reserves. These future projects are necessary to keep the school an attractive proposition for prospective parents. The level of unrestricted and undesignated reserves at 31 August 2024 was £7,815,405 (2023: £7,259,644).

Investment Policy and Objectives

The investment manager, Evelyn Partners have invested all funds in accordance with the School’s Statement of Investment Principles. This includes ethical restrictions on investing. The investment aims are to provide a reasonable level of income, to benefit the School and to assist with the provision of scholarships and bursaries, whilst maintaining and growing the value of the capital in real terms.

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

Investment Performance against Objectives

In the year 2023/24 the market value of the School's General Fund portfolio (excluding cash) increased by 13.2% (increased by 3.9% 2022/23). All investments were undertaken in accordance with the School's investment principles.

FUTURE PLANS

The key objectives are to:

Risk Management

The Governing Body has examined the major risks to which the charity is exposed and has developed systems to monitor and control these risks, in order to mitigate any impact they may have on the School’s future. A formal review of the charity’s risk management matrix is undertaken annually. The key risks are considered to be:

The key controls used by the charity include:

While the Governing Body reviews its risk assessment documentation annually, it is recognised that no system can give an absolute assurance against all risks.

Third party indemnity provision

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Edgbaston High School for Girls DIRECTORS’ REPORT (including strategic report)

The School has purchased and maintains insurance to cover its trustees and officers against liabilities in relation to their duties to the School at a cost of £268 (2023: £268).

Statement as to Disclosure of Information to Auditors

The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the directors have confirmed that they have taken all the steps that they ought to have taken as directors to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

The Directors’ report and Strategic report were approved by the Full Governing Body and signed on their behalf by:

MrChair Martinof the Chitty Governing\ Body

Date: d 4 {\Meal. La 472)

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Edgbaston High School for Girls STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The directors are responsible for preparing the Directors’ Report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the group and the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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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 2024 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 providea 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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.

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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

Considering the 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

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5 May 2025

Edgbaston High School for Girls CONSOLIDATED SUMMARY INCOME AND EXPENDITURE ACCOUNT for the year ended 31 August 2024

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||||||||| |---|---|---|---|---|---|---|---| |Notes|Unrestricted|Endowment|Total|funds|Totalfunds| |funds|funds|2024|2023| |£|£|£|£| |INCOME|AND|ENDOWMENTS| |FROM:| |Charitable|activities|2|12,411,490|-|12,411,490|11,723,737| |Other|trading|activities|4|121,920|-|121,920|128,270| |Investments|5|436,929|-|436,929|242,928| |Total|12,970,339|-|12,970,339|12,094,935| |EXPENDITURE|ON:| |Raising|funds|6|44,952|-|44,952|37,536| |Charitable|activities:|7| |-|Educational|costs|8,049,313|-|8,049,313|7,688,170| |-|Establishment|costs|2,168,491|-|2,168,491|1,957,904| |-|Support|costs|2,212,913|-|2,212,913|1,965,617| |Total|12,485,332|-|12,485,332|11,649,227| |Gains/(losses)|on|investments:|12|531,531|-|531,531|(131,719)| |TRANSFER|unrestricted|fund|9,662|(9,662)|-|-| |NET|INCOME/(EXPENDITURE)|1,026,200|(9,662)|1,016,538|313,989| |NET MOVEMENT|IN|FUNDS|1,026,200|(9,662)|1,016,538|313,989| |BALANCE BROUGHT|22,060,021|9,662|22,069,683|21,755,694| |FORWARD| |BALANCE|CARRIED FORWARD|23,086,221|-|23,086,221|22,069,683|

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The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 22 to 37 form part of these financial statements.

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Edgbaston High School for Girls CONSOLIDATED BALANCE SHEET as at 31 August 2024

Company Number: 10631

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Notes|2024|2023| |£|£| |FIXED|ASSETS| |Tangible|assets|11|13,013,627|12,547,058| |Investments|12.|5,450,991|4,813,734| |18,464,618|17,360,792| |CURRENT|ASSETS| |Debtors|14|571,518|482,725| |Cash|at|bank|and|in|hand —|unrestricted|7,954,153|6,172,946| |-|restricted|funds|and endowment|-|9,662| |8,525,671|6,665,333| |CREDITORS:|Amounts|falling|due|within|one|year|15|(3,113,622)|(1,956,442)| |NET CURRENT|ASSETS|5,412,049|4,708,891| |Creditors:|Amounts|falling|due|after one year|ISA|(790,446)|-| |TOTAL NET|ASSETS|23,086,221|22,069,683| |Endowment|funds|18|-|9,662| |Designated|funds|and|called up|share|capital|19|15,266,947|14,800,378| |Other|funds|19|7,819,273|7,259,643| |TOTAL|CHARITY FUNDS|23,086,221|22,069,683|

----- End of picture text -----

The financial statements on pages 17 to 38 were approved by the Governing Body and authorised for issue on 24 March 2025 and signed on their behalf by:

Mr Martin Cifitty

Anne Howarth

Page 18

Edgbaston High School for Girls COMPANY BALANCE SHEET as at 31 August 2024

Company Number: 10631

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Notes|2024|2023| |£|£| |FIXED|ASSETS| |Tangible|assets|11|13,013,627|12,547,058| |Investments|13|5,550,991|4,907,941| |18,564,618|17,454,999| |CURRENT|ASSETS| |Debtors|14|673,747|619,905| |Cash|at bank|and|in|hand —|unrestricted|7,734,730|5,913,413| |-|restricted|funds|and|endowment|-|9,662| |8,408,478|6,542,980| |CREDITORS:|Amounts|falling|due|within|one|year|15|(3,107,562)|(1,950,607)| |NET|CURRENT|ASSETS|5,300,916|4,592,373| |Creditors:|Amounts|falling|due|after one|year|ISA|(790,447)|-| |TOTAL NET|ASSETS|23,075,087|22,047,372| |Endowment|funds|18|-|9,662| |Designated|funds|and|called|up|share|capital|20|15,266,946|14,800,378| |Other|funds|20|~—-7,808,140|7,237,332| |TOTAL|CHARITY FUNDS|23,075,087|22,047,372|

----- End of picture text -----

Net movement in funds for the parent charity was a gain of £1,016,537 (2023: gain of £313,989).

The financial statements on pages 17 to 38 were approved by the Full Governing Body and authorised for issue on 24th March 2025 and signed on their behalf by:

NWS Chae Mr Martin Chitty

Page 19

Edgbaston High School for Girls CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 August 2024

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Cash|flows|from|operating|activities:| |Net|cash|provided by|operating|activities|2,582,266|1,190,591| |Cash|flows|from|investing|activities:| |Dividends|and|interest|from|investments|436,929|242,928| |Purchase|of property,|plant|and equipment|(1,141,924)|(575,946)| |Proceeds|from|sale|of investments| |-|Unrestricted|341,143|661,704| |Purchase|of investments| |-|Unrestricted|(446,869)|(975,478)| |Net|cash|used|in|investing|activities|(810,721)|(646,792)| |Change|in|cash|and|cash|equivalents|in|the|reporting|period|1,771,545|543,799| |Cash|and|cash|equivalents|at|the|beginning|of the|6,182,608|5,638,809| |reporting|period| |Cash|and|cash|equivalents|at|the|end|of the|reporting|7,954,153|6,182,608| |period| |Reconciliation|of net|income|to|net|cash|flows|from| |operating|activities| |Net|income|for|the|reporting|period|1,016,538|313,989| |Adjustments|for:| |(Gains)/losses|on|investments|(531,531)|131,719| |Depreciation|charges|541,656|487,965| |Loss|and|disposal|of fixed|assets|133,699|-| |Dividends|and|interest|from|investments|(436,929)|(242,928)| |(Increase)/decrease|in|debtors|(88,793)|1,761| |Increase/(decrease)|in|creditor <1|1,157,180|498,085| |Increase/(decrease)|in|creditors|>1|790,446|-| |Net cash|provided|by|operating|activities|2,582,266|1,190,591|

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Page 20

CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 August 2024

Edgbaston High School for Girls

Analysis ofcash and cash equivalents 2024 2023
£ £
Cash at bank 7,954,153 6,182,608
Totalcashandcashequivalents 7,954,153 6,182,608

Page 21

Edgbaston High School for Girls ACCOUNTING POLICIES

GENERAL INFORMATION

Edgbaston High School for Girls (“the charity”) is a charitable company limited by guarantee and is incorporated in England and Wales (Company registration number 10631 and charity number 504011). The address of the Charity’s registered office and principal place of business is Westbourne Road, Edgbaston, Birmingham, B15 3TS.

The group consists of the charity and its one subsidiary, EHS (Property Services) Limited.

The nature of the group’s operations are set out in the Directors’ Report.

BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with Accounting and Reporting by Charities; 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) (issued on 16 July 2014) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Monetary amounts in these financial statements are rounded to the nearest whole £1. The financial statements are presented in sterling which is also the functional currency of the charity.

Edgbaston High School for Girls meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

BASIS OF CONSOLIDATION

These financial statements consolidate the financial statements of Edgbaston High School for Girls (“the Charity”) and its subsidiary, EHS (Property Services) Limited (“the subsidiary”) all financial statements are made up to 31 August.

The financial statements consolidate the results of the Charity and its wholly owned subsidiary on a line-byline basis. A separate Statement of Financial Activities and Statement of Comprehensive Income for the Charity have not been presented because the Charity has taken advantage of the exemption afforded by Section 408 of the Companies Act 2006.

All intra-group transactions, balances and unrealised gains on transactions between Group entities are eliminated on consolidation.

GOING CONCERN

At the time of approving the financial statements, the governors have a reasonable expectation that the group and charitable company have adequate resources to continue in operational existence for the foreseeable future. Thus, the governors continue to adopt the going concern basis of accounting in preparing the financial statements.

The governors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the group and charitable company have adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the group's and charitable company’s ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 22

Edgbaston High School for Girls ACCOUNTING POLICIES

INCOME AND EXPENDITURE

Income represents fees invoiced for services provided. Income and expenditure are accounted for on an accruals basis.

Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the School.

Donations and gifts are accounted for on a receivable basis.

SUPPORT COSTS

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources e.g. staff costs by time spent and other costs by usage.

GOVERNANCE COSTS

Governance costs included within support costs comprise the costs associated with the governance arrangements of the charity. This includes external activities, any legal advice for the governors and all costs of complying with constitutional and statutory requirements such as the costs of the Governing Body meetings, the preparation of statutory accounts, and satisfying public accountability.

RAISING FUNDS

Expenditure on raising funds are those costs incurred in the management and administration of the charity’s investments.

CHARITABLE ACTIVITIES

Charitable activities include expenditure on providing education and include both direct costs and support costs relating to the activity.

AWARDS AND BURSARIES

Awards from restricted funds are included as expenditure in the period for which the award is given. Bursaries and other allowances from unrestricted funds towards School fees are netted off against school fee income.

FUND ACCOUNTING

General unrestricted funds comprise the accumulated surpluses and deficits on general funds and the cumulative realised and unrealised gains on investments. They are available for use at the discretion of the trustees in furtherance of the general charitable objectives. In addition, the trustees have designated certain funds for particular purposes.

Endowment funds relate to those assets which represent the permanent capital base of the charity and which may not be spent.

TANGIBLE FIXED ASSETS

Fixed assets are stated at historical cost less accumulated depreciation. All fixed asset purchases greater than £1,000 are capitalised. Any purchases less than £1,000 are written off to the Statement of Financial Activities as incurred.

Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows:-

Long leasehold properties _- over the unexpired term of the lease at the point of addition Fixtures and fittings - over 5 years Plant and machinery - over 5 to 10 years on a straight line basis ICT hardware - over 5 years

Page 23

Edgbaston High School for Girls ACCOUNTING POLICIES

Assets in the course of construction are transferred to the above categories on completion and depreciated from the date the asset comes into use.

INVESTMENTS

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date stated at bid price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The investment in the subsidiary company is stated at cost less impairment.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value brought forward.

DEBTORS

Trade and other debtors which are receivable within one year are initially recognised at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

CASH AND BANK BALANCES

Cash and bank balances includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition.

TRADE CREDITORS AND LIABILTIES

Trade creditors payable within one year are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

PENSIONS

Retirement benefits to teachers at the school are provided by the Teachers’ Pension Scheme (‘TPS’). This is a defined benefit scheme and the assets are held separately from those of the school.

The TPS is an unfunded scheme and contributions are calculated to spread the cost of pensions over employees’ working lives with the school in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary based on quinquennial valuations using a prospective benefit method. As stated in Note 26, the TPS is a multi-employer scheme and the school is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. The TPS is therefore treated as a defined contribution scheme and the contributions recognised as they are paid each year.

For non-teaching staff the School makes defined contribution payments into individual personal pension schemes. The amount charged to the Statement of Financial Activities in respect of these pension costs is the contributions payable by the School in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.

Page 24

Edgbaston High School for Girls ACCOUNTING POLICIES

OPERATING LEASES

The annual rentals for “operating leases” are charged to the income and expenditure account on a straight line basis over the lease term.

IMPAIRMENTS

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. All impairment losses are recognised in the Statement of Financial Activities.

CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 25

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

1 COMPARATIVE INFORMATION - STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Endowment Restricted Totalfunds
funds funds funds 2023
£ £ £ £
INCOME AND ENDOWMENTS
FROM:
Charitable activities 11,723,737 - - 11,723,737
Othertrading activities 128,270 - - 128,270
Investments 242,928 - - 242,928
Total 12,094,935 - - 12,094,935
EXPENDEDITURE ON:
Raising funds 37,536 - - 37,536
Charitable activities
- Educational costs 7,688,170 - - 7,688,170
- Establishment costs 1,957,904 - - 1,957,904
- Support costs 1,965,617 - - 1,965,617
Total 11,649,227 - - 11,649,227
(Losses)/gains on investments (131,719) - - (131,719)
TRANSFERS - -
NET INCOME/(EXPENDITURE) 313,989 - - 313,989
NETMOVEMENT IN FUNDS 313,989 - - 313,989
BALANCE BROUGHT FORWARD 21,746,033 9,662 - 21,755,694
BALANCESCARRIEDFORWARD 22,060,022 9,662 - 22,069,683

Page 26

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2|INCOME FROM CHARITABLE|ACTIVITIES|2024|2023| |£|£| |School|fees|(note|3)|11,252,181|10,542,846| |Registration|fees|29,752|27,722| |After|School|cover|75,377|64,449| |Catering income|658,506|598,795| |Other income|from|charitable|activities|386,013|489,925| |12,401,828|11,723,737| |3|SCHOOL|FEES|2024|2023| |£|£| |The|School’s|fee|income|comprised:| |Gross|fees|12,469,098|11,622,063| |Less:|Total|bursaries,|scholarships|and|allowances|(1,216,916)|(1,079,217)| |11,252,181|10,542,846| |4|OTHER TRADING ACTIVITIES|2024|2023| |£|£| |Hire|of school|facilities|121,920|128,270| |5)|INVESTMENT INCOME|2024|2023| |£|£| |Income|from|listed|investments|141,255|140,058| |Bank|interest|and|interest|on|short|term|deposits|295,674|102,870| |436,929|242,928| |6|INVESTMENT COSTS|2024|2023| |£|£| |Investment management|44,952|37,536|

----- End of picture text -----

Page 27

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

7 CHARITABLE ACTIVITIES EXPENDITURE

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2024|2023| |Staffcosts|Other|costs|Depreciation|Total|Total| |£|£|£|£|£| |Charitable|activities:| |Educational|costs|7,493,854|565,122|-|8,058,976|7,688,170| |Establishment|costs|975,445|1,193,046|-|2,168,491|1,957,904| |Support|costs|546,508|1,124,749|541,656|2,212,913|1,965,617| |Total — 2024|9,015,808|2,882,917|541,656|12,440,380|11,611,691| |Total —|2023|8,566,361|2,557,366|487,964|

----- End of picture text -----

Support costs include administration costs: including salaries, professional fees and depreciation. Other costs include £28,340 relating to audit fees (2023: £21,690) and governance costs of £52,494.73 (2023: £8,860).

8 NET INCOME INCOME

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |NET INCOME INCOME|Unrestrictedfunds| |2024|2023| |£|£| |Net income|is|stated|after|charging:| |Depreciation|and|amounts|written|off tangible|fixed|assets:| |Charge|for|the|year:|owned|assets|541,656|487,964| |Operating|lease|rentals:| |Land|and buildings|1,987|1,870| |Plant|and|machinery|19,415|17,261| |Auditor’s|remuneration:| |Audit|fees|current|year|28,340|21,690| |Non|audit|services|-|-| |Trustee|Indemnity|Insurance|268|268|

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Page 28

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

9 EMPLOYEES 2024 2023
No No
The averageweekly numberofpersons employed by the School
during the year was:
Teaching and allied staff 133 131
Others 115 116
248 247
2024 2023
£ £
Staffcosts for above persons:
Wages and salaries 6,893,061 6,635,216
Social security costs 695,530 662,866
Otherpension costs 1,427,217 1,268,279
9,015,808 8,566,361

The number of employees whose emoluments amounted to over £60,000 in the year were as follows:

2024 2023
No. No.
£60,000 - £69,999 6 1
£70,000 - £79,999 2 3
£80,000 - £89,999 1 1
£90,000 - £99,999 0 0
£100,000 -£109,999 0 0
£110,000 - £119,999 1 0
£150,000-£159,999

In accordance with the Charities SORP (FRS102) the benefit to the charity provided by general volunteers, which are very few, is not reflected in the Statement of Financial Activities.

During the year there has been settlement agreements with 1 members of staff amounting to £35,873 (2023: Nil).

Page 29

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

9 EMPLOYEES (continued)

TRUSTEES

Trustees have received no remuneration during the year, however, £462 mileage/train ticket (2023: £202) was reimbursed to two trustees.

The charity has purchased trustee indemnity insurance. The cost is disclosed in note 8.

The total compensation including national insurance and pension contributions payable to key management personnel of the charity was £1,518,000 (2023: £937,000).

10 TAXATION

The School is a registered charity and as such its charitable activities are not liable to UK corporation tax.

11 TANGIBLE FIXED ASSETS
GROUP AND COMPANY Plantand
Long — machinery
Asset in course leasehold and ICT
ofconstruction property hardware Total
£ £ £
Cost
1 September2023 - 17,123,775 4,538,889 21,662,664
Additions 630,160 121,348 390,416 1,141,924
Disposal
Transfers		 -
-		 (200,000)
-		 (149,786)
-		 (349,786)
-
31 August 2024 630,160 17,045,123 4,779,520 22,454,802
Depreciation
1 September2023 - 5,441,130 3,674,476 9,115,606
Charged in the year - 317,344 224,313 541,656
Disposal - (70,175) (145,913) (216,088)
31 August 2024 - 5,688,299 3,752,876 9,441,174
Net book value
31 August 2024 630,160 11,356,824 1,026,644 13,013,627
31August2023 - 11,682,645 864,413 12,547,058

Page 30

Edgbaston High School for Girls

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

12 FIXEDASSETINVESTMENTS Unrestricted —§Endowment
GROUP Funds Funds
Listed Listed Total
a £ £
Market value
1 September 2023 4,813,734 - 4,813,734
Additions 446,869 - 446,869
Disposals (341,143) - (341,143)
Net investment gains 531,531 - 531,531
31 August2023 5,450,991 - 5,450,991
Historical cost as at 31 August 2024 4,583,360 - 4,583,360
Historical cost as at 31 August 2023 4,465,386 - 4,465,386
13 FIXEDASSET INVESTMENTS Unrestricted Endowment
COMPANY Unlisted Funds Funds
(subsidiary) Listed Listed Total
£ £ £ £
Market value
1 September2023 94,207 4,813,734 - 4,907,941
Additions 5,793 446,869 - 452,662
Disposals - (341,143) - (341,143)
Net investment gains - 531,531 - 531,531
31 August 2024 100,000 5,450,991 - 5,550,991
Historical cost as at 31 August 2024 100,000 4,583,360 - 4,683,360
Historicalcostasat31August2023 100,000 4,465,386 - 4,565,386

Page 31

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

13 FIXED ASSET INVESTMENTS COMPANY (continued)

The company holds directly more than 10% of the share capital of the following undertaking:

Name Countryof
incorporation		 Class of — Proportion
holding
held		 Class of — Proportion
holding
held		 Nature of
business
EHS (Property Services) Limited England Ordinary 100% Hire of
Company no. 02660124 school
facilities

During the year ended 31 August 2024 EHS (Property Services) Limited had turnover of £121,920 (2023: £128,269) expenditure of £110,843 (2023: £111,807) and profit after taxation of £11,077 (2023: £16,462). The aggregate capital and reserves of the company at 31 August 2024 were £111,133 (2022: £116,518).

The results of EHS (Property Services) Limited are included within the consolidated financial statements.

GROUP COMPANY COMPANY
14 DEBTORS 2024 2023 2024 2023
£ £ £ &
Due within one year:
Fees and disbursements 43,759 82,176 43,759 82,176
Other debtors 197,768 154,013 159,010 110,823
Prepayments 329,992 246,536 329,992 246,536
Amountdue from subsidiary - - 140,987 180,370
Undertaking —_ —_— ee
571,518 482,725 673,747 619,905

Page 32

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

GROUP COMPANY COMPANY
15 CREDITORS: Amounts falling due 2024 2023 2024 2023
within one year £ £ £ £
Trade creditors 359,223 256,821 359,223 256,821
Other Creditors 432,016 373,133 432,016 373,133
Accruals 290,878 107,972 284,818 102,137
Deferred income 1,519,422 1,218,516 1,519,422 1,218,516
-Fees in Advance (FIA scheme) <1 512,083 - 512,083 -
year
3,113,622 1,956,442 3,107,562 1,950,607
GROUPAND COMPANY 2024 2023
£ £
1 September 1,218,516 598,673
Additions
-Fees in advance (FIA Scheme) <1 year 512,083 -
-Fees in advance (FIA Scheme) > lyear 790,447 -
-Deferred income fornext academic year 1,519,422 1,218,516
Released (1,218,516) (598,673)
31August 2,821,953 1,218,516
Deferredincome relates to school fee incomereceived in advance ofeducation Deferredincome relates to school fee incomereceived in advance ofeducation Deferredincome relates to school fee incomereceived in advance ofeducation education to beprovided in beprovided in
future years.
15A_ Creditors: Amounts falling due after 2024 2023
More than one year
-Fees in advance (FIA Scheme) <1 year 790,446 -
GROUP COMPANY
16 FINANCIAL INSTRUMENTS 2024 2023 2024 2023
£ £ £ £
Financial assets:
Equity instruments measured at fair
value 5,450,991 4,813,724 5,550,991 4,907,941

Financial assets measured at fair value through income and expenditure comprise listed investments.

Page 33

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Net curent Fund
Fixed assets Investments assets balances
£ £ £ Bi
Unrestricted funds:
Designated funds 13,013,627 2,250,000 3,320 15,266,947
Other funds - 3,200,991 4,618,283 7,819,274
Endowment funds = - - -
13,013,627 5,450,991 4,621,603 23,086,221

18 ENDOWMENT FUNDS: MOVEMENTS IN THE YEAR

Balance at Transfers Balance at
1 September Investment £ 31 August
2023 Income Expenditure gain/(loss) 2024
£ £ £ £ £
Special funds and awards:
Prizes and
Awards fund 9,662 - - - (9,662) -
9,662 - - - (9,662) -

Page 34

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

19 CONSOLIDATED UNRESTRICTED FUNDS: MOVEMENTS IN THE YEAR

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Balance|at|Gains/|Balance|at| |1|September|(losses)|on|31|August| |2023|Income|Expenditure|investment|Transfers|2024| |E|£|£|£|£|£| |Designated| |funds| |Tangible|fixed| |asset|fund|12,547,059|:|7|466,569|13,013,627| |Bursaries|and| |Scholarship| |fund|2,250,000|180,351|(711,881)|531,531|0|2,250,000| |Called|up| |share|capital|3,320|3,320| |14,800,379|180,351|(711,881)|531,531|466,569|15,266,948| |General| |reserve|7,259,643|12,780,326|(11,763,788)|0|(456,907)|7,819,274| |Total|oo|CO|CO|a| |unrestricted| |funds|22,060,022|12,970,339|(12,475,670)|531,531|9,662|23,086,221|

----- End of picture text -----

The tangible fixed asset fund represents the net book value of tangible fixed assets. The transfer in the year has been made to ensure the value of this fund equals the net book value of tangible fixed assets.

The Bursaries and Scholarships fund is held to generate income, recognised in the General Reserve, necessary to provide bursaries and scholarships.

The general reserve fund represents those funds which are unrestricted and not designated for other purposes.

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |20|SHARE CAPITAL|2024|2023| |£|£| |Equity|share|capital| |Authorised:| |750|ordinary|shares|of|£10|each|7,500|7,500| |Allotted,|issued|and|fully|paid:| |332|ordinary|shares|of £10|each|3,320|3,320|

----- End of picture text -----

Every member of the company entitled to vote at general meetings has one vote, regardless of the number of shares held. Income and property of the company is used only in the support of the charitable objectives of the company. No dividends are payable and any surplus on winding up may only be used to support another institution with similar objectives.

Page 35

Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024 a —

21 COMMITMENTS UNDER OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are set out below:

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||||||||| |---|---|---|---|---|---|---|---| |Land|and|buildings|Equipment| |2024|2023|2024|2023| |£|£|£|£| |Within|one|year|1,870|1,870|21,163|21,163| |Between|one|and|five years|7,480|7,480|62,772|83,935| |After|five|years|59,840|61,710|-|-| |69,190|71,060|83,935|105,098|

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22 RELATED PARTY TRANSACTIONS

The School does not have an ultimate controlling party; its body of Trustees of Edgbaston High School for Girls govern the School.

Transactions with trustees are disclosed in Note 9.

A close family member of the Finance Director was remunerated for services in the library, coaching lifesaving to younger pupils and holiday club during the Summer for a value of £1,282. A close family member of the Headmistress was remunerated for services in the Bursary for a value of £23,220.

The charity transacted with EHS (Property Services) Limited, a company who is a wholly owned subsidiary of Edgbaston High School for Girls.

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|||||||| |---|---|---|---|---|---|---| |EHS|(Property|Services)|Limited| |2024|2023| |£|£| |Management|charge|105,198|106,312| |Profits|distributed from EHS|(Property|Services) Limited|16,462|43,939| |Amounts due|to/(from) EHS|(Property|Services)|Limited|(140,987)|(180,370)| |None|of the|above|balances|are|secured.| |There|are no|other|related party|transactions.|

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ee

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Edgbaston High School for Girls NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024

23 PENSION CONTRIBUTIONS

The school's employees belong to two principle pensions schemes; the Teachers' Pension Scheme England and Wales ("the TPS") for academic and related staff which is a defined benefit scheme and a defined contribution scheme for non-teaching staff.

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 £1,665,927 (2023 - £1,518,037) and at the year-end £152,224 (2023 - £119,534) was outstanding in creditors in respect of contributions to this scheme.

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

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023.

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation have valued the ‘greater value’ benefits for groups of relevant members.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Defined Contribution scheme

For non-teaching staff the company offer a pension scheme with AVIVA to 92 members of staff (2023: 97) who had pension rights accruing under individual personal pension schemes on a defined contribution basis. The total pension cost for the period in respect of these schemes was £233,251 (2023: £233,816).

There were outstanding contributions at 31 August 2024 £19,593 (2023: £18,884).

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