Company No: 2114449 Regtstered Charkty No: 701294 St lobn'5 College Llmited (A company limlted byguarantee) Annual reportand financial statements For the year ended 31 August 2024 St John's College Limited Annual report and financial statements Year ended 31 Au stZ024 Contents Page Trustees. officers and advisers Annual Report of the Trustees including the Strategic Report 3-12 IndependentAudltorfs Report 13-16 Statement of Financial Activities 17 Balance Sheet 18 Cash Flow Ststement 19 Notes to the Financial Statements 20-34 St John's College Limited Trustees. officers and advisers Year ended 31 August Z024 Trustees, dlrectors and charity trustees The Trustees ofst lohn's College fthe SchoolJ are the School's charity trustees under charity law and the directors ofthe charitable company. The members of the Governing Body who served in office as Trustees durlng the year and subsequently are detailed below. (Company Secretsry] (Chair of the Trustee5} S james P Smerald J Rees R Davies S Eden P Malfatti (resigned 6 September 2023) Each Trustee is experted to be involved in the responsibilities and the activitie5 of all matters of governance. Key D￿nagement personnel S Moody A Johnson l Gordon-smith N Taylor E Jones Head Teacher Head ofEstates Deputy Head Assistant Head Assistr4nt Head Principal address College Green Newport Road Old St Mellons Cardiff CF3 5YX Independent audltors Saflery LLP St Catherine's Court Berkeley Place Clifton Bristol BS8 IBQ St lohn's College Limited Trustees, officers and advfisers Year ended 31 August 2024 BaDkeT5 Uoyds Bank PIC 3rd Floor Citymark 150 FounralnbrIdge Edinburgh EH3 9PE Solicitors Capital Law Capital Building Tyndall Street Cardiff CFIO 4AZ Investment advisors Charles Stanley & Co 718 Park Place Cardiff CFIO 3DP Brewin Dolphin 5 Callaghan Square Cardiff CFIO 5BT Webslte wwwst]'ohnscollegecardiff.com Annual Report of the Trustees Indudingthe Strateglc Report To the members of St lohn's College Llmlted Year ended 31 August 2024 The Trustees present their annual report for the year ended 31 August 2024 under the Companies Act 2006 and the Charities Art 2011, including the Directors, and Strategic Reports, together with the audited financial statements for the year. and confirm that the latter comply with the requirements Df the Companies Act 2006, the CoMpan￿S Memorandum and Articles of Association and the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102) issued in 2019 ("SORP 2019"). REFERENCE AND ADMINISTRATIVE INFORMATION St John's College ["the Compann is a company limited by guarantee. company registration number 2114449. It is registered as a charity under regtstration number 701294. It is exempt from the requirementto include the word"limited" in ils" naffle. Its registered office and principal address is: College Green Newport Road Old St Mellons Cardiff CF3 5YX Website: wwwstiohnscollegecardiff.com The School The School principally provides a high level of education ro boys and gir15 in Cardiff and the surrounding areas from the ages of 3 to 18 years In the context of a recognised Roman Catholic cathedral choir school. Ru￿URE. GOVERNANCE AND MANAGEMENT Governing Body The companys directors are the trustees 2nd are referred to as tr￿tee5 throughouL Members elect trustees at the Annual General Meetin2 for a period of up to three year5. The body of trustees of the company is limited to no more than seven persoDS. At least 25 percent of trustees must retire at each Annual General Meeting and may offer themselves for re-election. The trustees may appoint a new trustee to fill a casual vacancy who will hold office until the next Extraordinary General Meeting orAnnual General Meeting. The company is limited by guarantee and. as such, no trustee has any interest in the company. The Board of Trustees looks to ensure a mix of skills and selects new trustee5 on the basi5 of competence, specialist skills and a covnmitmenr to the Catholic ethos of the School. The current board of trustees consists ofprofessionals with backgrounds in law, finance and business. Atthe preseTJt time, they 211 happen to be parents of current or former pupils at the School and as such, have a detailed knowledge of the educational activities within the School and acquaintance with a wide range of existing families whose children attend the School. As new trustees are appointed. an induction programme ensures that all of the above competencles and qualities are confirmed and that suitable professional development training will be undertaken as required. As a matter of course, all trustees are vetted through enhanced clearance from the Disc105ures and Barring Service (DBS). as is every member ofstaffand volunteer at the School. All new Annual Report of the Tn￿eS finduding the Strategic Report To the members of St lohn's College Llmlted Year ended 31 August 2024 trustees will bv iequired 10 undenake an enhanced DBS disclosure prior to being appointed plus any further safeguarding measures as required by law and a5 administered by the ISC at the appropriate time. The School's Board ofTrustees includes all the trustees. who advise and support the Head and staff Tn managing and administeringthe work ofthe College. The Board expects to meeton up to four occasions each acadeiiiic yv(Ir. Volunteers AII tNstees give of their time freely and no remuneration was paid during the year. In addition, a number of parents undertake volunteer roles to plan fvndraising events and activities via'The Friends of St john's, group. Organlsatlon The School's Trustees delegate the day-to-day management of the School to the Head. supported by the Senior Leadership Team. The Board of Tn￿tee5 set the pay and remuneration for the Head and key management personnel. Remuneration is set to provide appropriate incentives to encournge and reward enhanced performance. The appropriateness 2nd relevance of the remuner3tion policy is reviewed annually includlng reference to comparisons with other independent schools. Other Relatlnnshlps Theschool Is a memberof a numberof organlsations includingthe Welsh Independentschools Council. the Cathollc Independent Schools Conference. the Associatinn of Ctr)vp.rntng Rndie.s of Independent Schools, the Choir Schoo]5 Association and The Society of Heads. which enables the School to share expertise. knowledge and experience across the Rndependent sector. AIMS, OBJE￿IvEsAND PRINCIPAL A￿1VITIEs The objects of the Charity, in accordance with its Memorandum and Articles of Association, are to promote and provide for the advancement of education of children, both Roman Catholic and others, and this is achieved and realised through the context of a specialist nationally recognised C2thedral Choir School, one of up to forty such schools in England and two Rn Wales. The School is a designated School of Religious Character (National Assembly for Wales) teaching the Roman Catholic faitlL In setting the objectives of the Charity and in planning activities, the trustee5 have given careful consideratlon to the Charity Commission's general guidance on public benefit and in particular to Its supplementary public benefit guidaT]ce on advancing education and on fee chargÉng. The aims and ob5ectives are more fully articulated as follows- To provtde an education for boys and gir15 aged 3 to 18. both Roman Catholic and others. which enables each boy and girl to develop an independent and searching mind, to take pleasure in exploring ideas. and to do hislher best in public examinations without losing sight of the importance OF all the other enriching aspects of his/her School years which examinations do not record. To fosterthe Catholicchristian frarnework of the School so thatthe values ofchristian teaching can be seen to underpin the School sensitively. and in such a waythat those of other faiths feel that their beliefs are treated wlth full re5pert and toleranco Annual Report of the T￿￿ee$ includlng the Strategic Report To the members of St John's College Llmited Year ended 31 August 2024 To develop each pupil's interest in and enjoyment ot"a broad rdnge of activities including sporL music. art. drama. outdoor pursuits, and community service, and to provide opportunities for the development of each pupil's skill and knowledge in these areas. To provide a safe. friendly and supportive environment in which each pupil can feel valued and enjoy wellbeing as an individual and where each learns that respect for others is fundamental to the success of this aim. To be a school where pupils from a variety of backgrounds feel respected equally and where their spiritual. pastoral. socÉal and academic needs are met in an atmosphere of MU￿31 respert and supporL To develop doser relationships with other appropriate schools in the maintained sector without COTnpromising its independence of character and self-deterniination. To help each pupil to rÈcngni.%e the value nf the tnmmitmpnLs made. to those around them as well as to understanding responsibility to the wider community. To appoint and assistwith the development oftalented and inspirational stsff. To maintain a body of (3pable men and women to Serve as trustees and to use their expertise to help the School to Map out a successful future. To foster good relations between the School and the Metropolitan Cathedra] (Wales, nattonal Latliedral uf th¥ Welsh Meirupultian Pruvince). To foster community support and especially to continue to provide the highest standards of choral and instrumental music for public worship. as well as to continue to provide enrichment for a wider public who seek to hear the unique COTJtribution of the choirs and orchestra trom the School within the Metropolitan Cathedral, from national Wales and all-UK network BBC broadcasts. in other churche5 or settings such as St David's International Concert Hall. and for charitt.es and at residences tor the elderly/sick at no cosL Offering means-tested general and choral foundation bursaries to those who could not otherwise benefit from this educatio) For this year, the main objective has been to continue to provide a first-class academic education for our pupils as well as benefiting the pupils by exposure to a range of non-academic pursuits. As part of this objective. the School performed very well at A-level and GCSE. is amongst the leading group of independent schools registered in Wales with WAG and thus inspected by EsfYN, ranks high in public examination league lables, and has succeeded in ensuring that all sixth forniers are succes5tul in entering the best and mosdy Russell Group universitie5 to study Subjects of their choice. Its objectives include maintenance (with appropriate succession planning and professional training] of an experienced, hkgh-qu21ity body of teacher5. The School strives to further enhance local community support and to foster access to pupils with limited financial resources. In terms of fin2ncial objectives. the Charitys funds are managed prudently and returns are measured against market benchmarks but with a very sharp eye to security. The trustees also monitor the generation of an operating surplus by the School and the Maintenance of reserves to provide the resources forsupportingmeans-te5ted awards for pupils who would otherwtse be unable to attend the School. particularly where this fosters the School's academic and choral foundation aspirations and the wider public benefit which they brin& There is an ongoing commitment to improving facilities and resources. The School continued to invest in its facilities during the year. This included ￿rther investment in the new Sixth Form science laboratories at the Sixth Forni Centre at Eastern Bu5ine5s Park and the instalment ofnew security gates at the main sthijol site. PUBLIC BENEFIT Bursarles and scholarshlps Annual Report of the Tn￿e$ induding the Strntegic Report To the members of St lohn's College Llmlted Year ended 31 Augiijt Z024 Bursories Offering means-tested choral foundation and general bursaries to those who could not otherwise benefit from this education is tightly and coherently linked to the School's principal aims and objectives. The policy ofthe School has been to generate more funds for means-tested bursaries in order to relieve financial hardship for families where the pupil's education and future prospects would otherwise be at risk. In the current year bursaries have been granted to children from outside of the UK who have arrived as refugees and require school places. The Choir provides weekly music to Cardiff Metropolitan Cathedral. for the benefit of the wider Catholle community in Cardiff. In addition. it offers a service to the Natlonal Assembly for Wales and to Wales in the National Cathedral and has provtded music for special national and civic events such as openinR sessions of the Welsh Assembly. national occasions welcoming Heads of State. and BBC religious broadC￿ts on national network This enriches the lives of a wide range of members of the publfic of dRverse age. background and ethnic origin. as characterised by those large numbers who attend public and civic services and concessioned city concert& Choristers benefit from specialist teaching and training from high quality music and peripatetic staff to acquire a complex range ofknowledge, understanding and musical skill; gain moral. spiritua] and aesthetic enrichment through weekly service given throughout theyear: and develop an enhanced attitude and commitment to wider educational and academic aspiration. Students reqtslre tenacity and commlttnent to fulfil the obligatlon5 of this special role, giving this activity first priority. especially outside hours, such as on Sunday mornings and during the extensive Easter and Christmas periods when the School has c105ed for public holiday& The College provides support and safeguarding staff to enhance the quality of this activity and ensure the wellbeing of our chorister5. St lohn's College had the privilege of hosting the presttgious Catholic Independent Schools Conference 2024, a significant event in the educational calendar. The two-day conference wa5 a vibrant mccting point for Hcadteachers and Senior tEadership Teams from Catholic schools nationwide. as well as for repreSenratIv￿ of bu5ine55es focused on education and event sponsors. We were proud of our junior. Senior, and Six-th forni pupils who led Morning Prayer on the first day of the conference. These young leaders aLso distributed commemorative bookmarks to all attendees, reating a memorable moment for everyone involved. On the subsequent mornin& the Cathedral Choir sang during the Conference Mass, beautifully marking the Feast of the Presentstion of the Lor(L The amount of our wider public benefit means-tested, choral foundation and refugee bursaries during 202312024wds£135,815 (2023-£198,729) and represented 1.65 % ofour gross fees. They provided assistance to 41 pupils including a limited number of 100% and 60%+ awards. BuFsaries exceeded our total investment income that was £86.893 [2023 - £84.110). Scholarships The School awards stholarships based on academic. musical and sporting merit and potential. Scholarships totslled £329,450 (2023 - £190.423). assisting 93 students and represented 4.00% of gross fees. The progress of students awarded scholarships is reviewed annually. Two scholarships have been withdrawn this year as a result ofthese reviews. Annual Report ofthe Tn￿tee5 including the Strdtegic Report To the members ofst lohn's College Llnthd Year end¢d 31 August 2024 Otherdiscounts The School offers discounts to families where parents have more than one child at the School, to underline the walue that we place on continuity for families. We also offer a discount scheme to staff members. airned at ath7cting and retaRning high calibre staff. Details of our bursary and scholarship policy are available on our website: www.stjohnscollegecardkff.com Othercharitable public beFpefitactivity Other charitable public benefit activity consistent with the School's aims and ethos this year has included offering use of the School's facilitieslassets as follows: Use of facilities by LCC IAdies Softball team: Use of facilities by Cardlff Academicals Football Team The School also encourages its community to tske part in a range of charitable fund-raising throughout the year. Thi5 year, fijnd-raising was enthusiastically embraced as always by pupils and parents. Activities (includlng the very popular Christmas and Summer Fayres and Qulz Night organised by The Friends of St john'5) supported the following charities: Harves1 Boxes (distributed Virfl St CÉl(JiJc's CathuliL Church. LlanruEnney) Royal British Legion Poppy Appeal BBC Children In Need Cat"od HPCT 73 The Pilgrim Trust Ty Hafan Books2Africa The safe foundation Hope Charity Beacon Centre toy appeal Cardiff Breast Cancer RATEGIC REPORT ACHIEVEMENT AND PERFORMANCE Pupil numbers During the course of the academic year. the School had an average of 564 day pupils (2023 - 569]. The roll has remained as experted with the investment and expansion ofthe Sixth Forni. Academic The School continues to provide an exceptionally high Standard of academic teachin& as part of an all- round education to pupils with a range of abilities. St john's College has achieved another strong performance in public examinations this year. enjoying enonnous success atGCSE and A iEvel. We are proud that St john's College has been recognised by The Sunday Times Parent Power Good School Guide 2025 as the best perfonning secondary school in Wales based on GCSE and A Level results. In 2024. at A-level, a pas5 rate of 9596 (2023 - 88%) was achieved at'A*' 'A' and 'B' level which was an extremely strong result by national standards. 74% (2023- 68%) of all results were grade'A*I or'A'. A Annual Report of the Trustees including the Strategic Report To the members of St lohn's College Limited Year ended 31 August Z024 pass rate of 100% was achieved [2023 - 96%). The majority of Students rnoving into higher education next year have been offered places in the subjert of their choice at Oxfor(L Cambridge and Russell Group universities. At GCSE level, 99% [2023 - 99.5%) of results were at 'A C grades. and 79% (2023 - 86%) of all results were gr3de'A" or'A', In adth"tion. 66% of pupils attained 9 or more strnight A" / A grndes [2023 - 690h). In 2018 Government EsfYN Inspectors graded the School Excellent In the areas of Standards, Wellbeing and Attitudes to Learnin& and Care, Support and Guidance. As a result of all of the above, the School is confident that it has achieved Its objective in ternis of academic perfonnance. Continued academic achievement is supported by an ongoing review of the academlc currfculum in order to provlde a breadth and challenge in the nature and range of subjects. as well a5 direrting further resource5 to School departments and co-curricular activities. This Strate￿ is incorporated in the annual School ImprovernentPlan, drafted by the Senior Leadership Team, and reviewed and endorsed by the Trustees in order to l) maintain ￿ndIng for bursaries directed at the School's objertives and 23 to finance further improvements to the School's elassrooms, catering facilities and outdoor spa￿. Music and Droma We continue to serve the Archdiocese of Cardiff-menevia in the Metropolitan Cathedral, providing music on Sundays. and at Christtnas. Easter and other services. The Cathedral Choir also provided music for the Mass at the Catholic Independent Schools Conference. h05ted in February 2024. Many pupils are receiving additional music thition through our extensive range of peripatetic musi lessons - pupils have had many opportunities this year to showcase their hard work and talenL as members of the Cathedral Choir and Concert Orchestra, and also with our wide range of other orchestras and music ensembles. The Cathedral Choir and Concert Orchestrd perfornled in our popular Christmas ConcerL held at the Metropolitan Cathedral. and also in the Spring Concert in March. Also in March, the biennial senior production took place at the All Nations Centre. Our senior pupils treated audiences overtwo nights to a spertacular performance of the musical-Little Shop ofHorror<, showc3sing the wTrde range of talent of the pupils in the upper section of the schi>ol. Members of the school Brass Ensemble also provided rnusic for the St Mellon's Community Remembrance Service in November. Our Infant Department perforn]ed in their annual production for thelr parents. who were also able to attend the Christmas tableau and service at St Cadoc's ChurclL The infants returned to perform Christmas carols at the church for p3rishioner& Our Speech and D17ma classes are increasingly popular. and we have enjoyed huge success in LAMDA examination5, with most pupi15 achieving distlnrtions in their certified areas ofstudy. Sport Our facilities continue to improve with plans for the addition of a new multi-purpose sports surface at the main site and a bespoke sixth fonn enrichvnent prograrnme. We aim to inspire all pupils to enjoy fitness and sport and otfer a wide range of activities. This year teams competed with other local schools at various fixtures in football, ￿gby, netbalL basketball, cricket and rounder& Through these fixtures, pupils have been able to develop both sporting skills and teamwork A number ofstudents have 3150 reached a high level in their individual disciplines. and have competed at both regional and national level. Annual Reportof the TThstees induding the Strategic Report To the members of St John's College Limited Yoar ended 31August 2024 Our successful chess club continues to be well attended and the team continues to enjoy success. reaching the regional finals ofthe ECF U19 Championship. TechnoloAy We are delighted to announcethat ourschool hasbeen awarded the prestigious SilverTeenTech Centre of Innovation status. This remarkable recognition comes as a result of our students, outstanding contributions to the TeenTech Awards this year. a renowned competition celebrating young people's achievements in science, technology. en￿neerIng and mathematt.cs (STEM} across the UK. Our Junior computing pupils took part in the BEBRAS UK challenges wÉth two of our RIO pupils achieving the highestjoint score In their year group out of the ZO.000 Competito￿ in the UIL Our R14 pupils entered the Cyber Explorers Cup and tasked with unravellinE cyber-related enigmas, the team showcased their prowess and collaboration. Our team won the cup in record-breaking time with the organi5ers praising the creativity, teamwork 2nd talent displayed by our students as a new benchmark for excellence. Wider Education The extensive co-Lvrriculum continues to flourish: A large number of students tookpartin Duke of Edinburgh Scheme at Bronze. Silver and Gold levels. The expeditions in particular develop resillence, determinatlon and strength of chararter. and it is alway5 encouraging to see pupils helping each other along on these occasions. We have achieved great success An recent years in the Fl in Schools competttion. at Regional and World levels. In September 2023 ourteam competed atthe World Finals in Singapore, St ]ohn's College being the only school in Wales to make it to the final stage. The School achieved further success this year at the Regional Finals with our R12 Entry team winning the Best Verbal and the Research and Development prizes. our Development team being nominated for Best Portfolio and our Professional team taking third place in their category. Our math5 and science students competed in and rcccived awards from a number of competitions, including first place in the Royal Society of Chemists￿s"TOp of the Bench" South East Wales heat, the British Biology Olympiad, the British Maths Olympiad, where one of our S￿dents achieved the highest score in Wales, and the UK Maths Challenge. Our Sixth Form Chemistsy students achieved a Gold award from the Swansea Analyst competition. Many students also cornpletsd CREST awards. Our Senior and Sixth Form pupils reached the National finals of the esteemed British Economics Olympiad. Thelr remarkable achlevemenr shlnes a spotllghr on thelr dedlcatlon and prowess In the field of economics. Our pupils showed exceptional aptitude and perseverance. standing among the top 25 S￿dents in the nation. Slxth Form SttEdenL8 competed the prestigious Young Cltlzens. Bar Mock Trlal compeddon ai Stowe School in Buckingham. reaching the fina15 of the competttion. Personal ondsocial Development All puplls belong to one of four "Houses" and represent thelr house In over 20 spordn& creatlve, musical and charity events each year. The House system provtde5 pupils with the opportunity to work with others from across different age and friendship groups. provides opportunities for leadership and teaches them the value of healthy competition. Students from the senior school planned and executed the annual Culture Day, runniTJg stalls, displaying food, rnusic, dance and dress from their family heritage. Pupi15 from nursery to sixth form were invited to attend to celebrate and Share in the diverslty of the school. while raising funds for a local charity helping marginalT5ed people and communities both locally and around the world. Throughout the school, the Jesuit Pupil Profile is used in order to link education with formation of character. Each tem focuses on a particular pair of virtues, and how these universal values can forni part of the developrnent olstudents as they progress throuRh the school. reAardless of reli2ious belief or cultural backgroun(L Annual Report of the Trurtees Includlng the Strategic Report To the members of St lohn's College Llmlted Year ended 31 August 2024 Wvllbvio Staff and pupil wellbeing are very important to us. and we are constandy seeking to ensure that all members of our community are able to thrive in a safe and supportive environmenL We have appointed a School Wellbeing Officer ro help implement polictes and respond to staff and student needs as well as provide a wellbeing room for pupils and staff to use. The School Wellbeing Officer and Wellbeing Task Force meet on a regular basis and have undertaken wellbeing surveys and wellbeing sessions for staff and pupils.-l-hey also rnn workshops for parents on relevant topic& FINANCIAL REVIEW Results for the Year 'L'he School's operating surplus for the year was £lb6,898 {2023 - operats.ng deficit of £646.212). The Trustees consider this finanaal performance to be in line with expectation. A tight control of spendin& along with the implementation of new efficiency processes has allowed the school to adjust to the increase in the Employers Teacher's Pension contributions. National Insurance and National Minimum Wage during the year. The global financial markets have recovered, thus giving an increase in the value of the Securities investments which contributed to the school's operating surplus. Investment has continued during the year into our sixth form saence facilities at Eastern Business ParlL Also, investment has been made into our main STte security. The school has cash reserves of £1.639,873. Budgets prepared for the 2024125 year suggest that the school will generate a deficiL This is in line with expertations as we adjust to the addition of VAT to school fees halfway through the school year. along with the Ios5 of charitable relief on business rates and the increases to both teacher pension costs 2nd employer national insurance. The Trustees have considered the use of the going concern basis in the preparation of the financial statements and have concluded that it was appropriate. The Board of Trustees is responsible for the management of the risks Faced by the School. On a quarterly basis at a full Trustees, meetin& they fornially review the identified risk% which the School may face and liaise with the School's mana¥emenL iIi Iliis I"eganl. The key risks Identified for any independent school relate to reputation. health and safety, safety ofall pupils. and general fiThancial, operational and strategic risks. Controls and safeguards which are put in place to manage the major risks include: appropriate levels of Énsurance cover. terms of reference for sub-committees where applicable (in practice and almost without exception. all matters are addressed by the full Board),. strate¥iL pldniiiii¥- budg¥tiiig aiid cash flow forecasting- fonnal written policies- clear authorisation and approval levels,. strict adherence to DBS vetting and safeguarding procedures in order to protert school pupi]s' and completion of appropriate risk assessments on all relevant aspects of the School's activities. The College Senior Leadership Team implements these rnatte￿ on an ongoing basis. The Head reports to the Board of Trustee5. The Finance Manager. Eststes Manager, HumaTJ Resource Manager and Examinations Officer report to the Head. The Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that this process provides reasonable assurance that identified risks are being rnitigated, but thi5 cannot provide absolute assurance. Limited fundraising is used by the school as the charitys main source ofincome. pupil admissions. generates sufflclent resources 10 cover its expenb¥S. All pupil application5 are independently io Annual Report of the Trustees Indudlng the Strdtegfic Report To the member5 of St lohn's College Llmlted Year ended 31 August 2024 reviewed by eniployees ufthe school and no professlonal or commercial parn"cipators are used in the decision-making process. INVESTMENTS The objectives of the School's investsnent policy are to maintain a secijre level of reserves for the Collegè while achievin8 growth in the capfital of the Collcgc. The Trnstees seek to maximise the value of investment returns for the benefit of pupils by the use of short-tenn secure best interest bank deposits and longer-term investments consistent with security. The Trustees wish to adopt a medium risk approach. while complying with the Trus*e Investsnent Acts. Details of longer-term investments that have been put in place during the year are shown in notes 8 and 9 of the accounts. RESERVES At the reporting datc, the College held unrestricted reserves of £7.006.6J2 (2023- £7.719,754). The trustees, intention is that any surylus will be contributed towards the costs of the strategic capital projects and scheduled maintenance to the Grade 11 listed building5 to avoid the need foi. bdiik borrowings, and to maintain a reserve for wider public benefit bursaries; however. they have not specifically designated a set amount for this purpose. FUTURE PIANS In May 2024 It was announced that the headmaster. Mr Shaun Moody. will be postponing retirement until August 202& In light of the academlc and financial perfonnance. the School's key objectives for the future remain the same as reported above for this year. Plans for the development of a multi-purpose sports surface at the maln slte remain under discussion. We continue the focu5 on increasing our outreach on social media. particularly in the wider education areni through the use of LinkedlL Further Alumni events are to be hosted to maintain and develop contact with our forn]er pupils. ATEME￿[ OF ACCOUNTING AND AUDITING RESPONSIBILITIES The members of the Governing Body (who are also the directo￿ of the School ft)r the purposes of company law} are responsible for preparing the Annual Report and the f￿ancIal ststements with applicable law and regulations. Company law requires the GoverniDg Body to prepare finanaal statements for each financial year. Under that law the Governing Body have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting practi￿ (United Kingdom Accounting Standards) and applicable law. Under company law the Governing Body members must not approve the financial statements unless they are satislied thatthey give a true and fair view of the state ofaffairs of the charitable company and of the incoming re50urces and application of resources. including the income and expenditure, of the Annual Report of the Trustees indudlng the Strategic Report To the member5 of St John's College Llmfited Year ended 31 August 2024 charitable conipiJr reporL We are independent of the chariLible company in accordance with the ethkcal 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 accnrd2t)r.g. with these requirements. We believe that the audit cvidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conduslons relattng to golng concern En auditing the financial statements. we have conduded that the trnstees, use of thegoing concern basis of accountlng in the prepatrdtinn nfthe. financial ststements is appropriate. Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast .sienificant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial stateTnents are authorised for issue. Our responsibilities and the responsibilities of the trustees with respectto golng concern are described in the relevant sections ofthi5 TeporL Other infonnation The other inforniation comprises the infonnation included in the annual report other than the financial staternents and our auditovs report there0￿ The trustees are responsible for the other information. Our oplnion on the financial Statements does not cover the other inforniation and. except to the extent otl)erwise expliat]y srated In our report we do not express any torm of assurance conclusion thereon. Our responsibility ts to read the other inforniation aT]d. in doing so, consider whether the other infomiation is materialty inconsistent with the financial statements or our 13 Independent auditorfs report To the members of St John's College Limited Year ended 31 August 2024 knowledge obtsined in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mis5tstements. we are required to deterniine whether this Rives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfornied, we conclude that there is a material misstatement of this other inforniation we are required to report that facL We have nothing to report in this regar(L Opfinlons on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the COUT5e of the audit: the inforniation given in the Trustees, Annual Report which includes the Directors. Report and the Strategic Report for the financial year for which the financial statements are prepared is eonsistent with the financial statements: and the Trustees, Annual Report which includes the Directors, Report and the Strategic Report has been prepared in accordance with applicable legal requirements. Matters on which we are rcqulrcd to report by exception In the light of the knowledge and understanding of the charitable company and Its environment obtained Sn the course of the audi¢ we have not identlfied materlal misstatements in the T￿Stees. Annual Report and Strategic ReporL We have nothing to report in rcsPCrt of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kep¢ or returns adequate for our audit have not been received from brnnches not visited by us: or the financial statements are not in agreement with the accounting records and re￿rns. or certain disclosures of trustees, remuneration specified by law are not made: or we have not received all the inforniation and explanations we require for our audiL Responsfibllltles of trustees A5 explained more fully in the Trustee4 Responsibilities Statement set out on page 11. the trustees (who are also dtrectors of the charitable company for the purposes of cornpany law) are responsible for the preparntion ofthe financial ststements and for beingsatisfied thatthey give a true and fairview, and for such internal control as the trnstees detern)ine is necessary to enable the preparation of financial Statements that are free from material misstatemenL whether due to fraud or error. In preparing the financial statements. the trnstees are responsible for a55essing the charitable CoMpan￿S ability to continue as a going concern, disc105in& as applicable. matters related to going concern and using the golng concern basis of accountlng unless the trustee5 either inteDd to liquidate the charltable compaTJy or ro cease operatioDS, or have po realislic alternative to do so. Auditorfs responslbllltles for the audlt of the finandal statements 14 Independentauditorf5 report To the members of St lohn's College Limlted Year ended 31 August Z024 We have been appointed a5 auditors under the Companies Act 2006 and report in accordance with Tegulations made under that ACL Our objectives are to obtain reasonable assurdnce about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to Issue an auditoi-'s rep(Trrt that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Isk (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 experted to influence the economic decisions of users taken on the basis ofthese financial statements. Irregularities, including fraud. are instances of non-compliance wtth laws 2nd regulations. We desTgn procedures in line with our responsibilities. outlined above, to detect material misstatements in respert of irregularities, including frau￿ The specific pro￿ureS for thi5 engagement and the extent to which these are capable of detecting irregularities. including fraud are detailed below. Identifying and assessing risks related to irreguldrities: We assessed the susceptibility of the chariLible companYs financial statements to material misstatement and how fraud might occur. including through discussions with the trustees, discussions within our audit teani plarining meetin& updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the iuiitext of the charirable company by disajssions with trustees and updating our understanding of the sertor in which the charitsble company operates. Laws and regulall.ons of direct significance in the context of the charitable company indude The Companie5 Act 2006. and guidance issued by the Charitycommission for England and Wales as well as inspections by Estyn. Audit response to risks identified: We considered the extent of compliance with these law5 and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable companrfs records of breaches of laws and regulations, minutes of meetings and Correspondence with relevant authorities to idpntify potenti21 materi21 misstatements arising. We discussed the charitable compan￿5 policies and procedures for compliance with laws and regulations with members of management responslble for compliance. During the planning meeting with the audit team, the engagement partner drew attention to the key areas which mlght involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual. suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness ofjournal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stsge of the audiL the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non- compliance with laws and regulations is from the events aud transactions reflected in the financial statements. the less likely we would become aware of IL Also. the risk of not detecting a material Independent auditorf5 report To the members of St lohn's College Lfin￿ted Year ended 31 August 2024 mlsstatement due to fraud is higher than the risk of not detecting one resulting frorn error, as frdud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilitie5 is available on the Financial Reporting Council's website at,. www.frc.or au rsre . This description forn￿ part of our auditor's reporL Use of our report This reportis made solely to the charitable companls rnernbe￿. as a body. in accordance wlth Chapter 3 of Part 16 ofthe Companies Act 2006, Our audit work has been undertaken so that we might stste to the charitable companls members those Tnatters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responslbllity to anyone other than the charitable company and the charitsble company's members as a body, for ouraudit work for this reporL or forthe opinions we have forn)ed. S4ty LLP Michael Strong {Senior Statutory Auditor) for and on behalf ofsaffery LLP Statutory Auditors St CatheriTJes Court Berldey Place Clifton Bristol B58 IBQ Date: 28 March 2025 Saffery LLP is eligible to art as an auditor in tern)s of sectton 1212 of the Companies Act 2006 16 St John's College Llmlted Statement of financial actlvities Year ended 31 August 2024 Unrestricted funds Restrficted funds 2024 Totsl 2023 Total Note Income from: Charitoble activities School fees receiwable 7.542.525 7.542525 7,067,785 Investment inwme 86.893 86.893 84.110 Donations and legacies 5.000 5.440 5.390 Other income 12.946 12.946 79.395 Total incomkn resources 7 642.804 5.000 7.647,804 7,236,680 Expenditure on: Choritable octiwtie5 Education and grant making 7.626.678 5,000 7.631,678 7.810.729 Costs ofgeneratingfvnds Investment management fees 17.069 17.069 16.930 Total expendlture 7.643,747 5.000 7.648,747 7,827,659 Net income/(outgoings} before investment gains/(losses) {943] (943) (590.979) Investment Oosses)/galTIS 167.841 167,841 (55,235) Net Income/(outgolnES} I66￿gR 166.898 (646,214) (Losses)/Gains on revaluation of investment properties Net movement In funds I66￿98 166,898 {646,214} Fund balances brought forward 7,719,754 7.719,754 8.365,968 Fund balances carried forward 7.886,652 7￿86,652 7,719,754 17 St lohn's College Limited Balance sheet Year cllded 31 Augu5L Z024 2024 2023 Fixed a￿ets Tanglble assets Investment propertles Securities investments 4,841,812 1.190.000 1,992,358 8,024,170 5.010,911 1.190.000 1,794.074 7,994,985 Current assets Stock Debtors Cash at bank io li 9,500 300,573 1.639.873 1.949.946 9,500 253.936 1,877,343 2,140,779 Current Ilablllttes Creditors payable within one year Net current Ilablltttes 12 2,087,464 (137.518] 2,416,010 [275,23 1) Total assets less current Ilabllltles 7,886,652 7,719.754 Net assets 7￿86.652 7.719,7S4 Represented by: Unrestrlcted funds Revaluation reserve General reserve Total funds 18 15 546,219 7.340.433 7.886.652 553,783 7,165.971 7.719.754 These financial statements were approved by the GovÈrning Body on 'ts behalf by: zw.JoJ1￿.. and were signed I Smerald Chair of the Trustees 18 St lohn's College Limited Cash flow statement For the year ended 31 August ZVZ4 Note 2024 2023 Net cash provlded by operating actlvltles (i} (201.148} (310.593) Cash flows from investing activities Remitted investment income Capitsl expenditure Proceeds on sale of investment property NetcashprovidedbyinvesUn9 activities 39.381 (75.703] 203.277 (228,761} 907.209 (36,322) 881,725 Increase/[decrease) in ￿sh In the year (237.470) 571,132 Net fund5 15eptember 2023 1.877,343 1.306,211 Net funds at 31 August 2024 1.639 873 1.877.343 [1) Reconcillation ofnet incoming resources to net cash flow from operations 2024 2023 Net Income/(deficit) Investment lossesl[Rains) Investment income Finance costs Depreciation charRe Increase/(decrease) in provisions Loss on disposal of fixed assets Loss on disposal of investment property Onerease)/decrease in debtors Increase/{decrease) in creditors 166.898 (646,214) (167,841) (86,893) 17,069 244.802 55.235 (84.110] 16.930 376.156 12.791 (69.477) 28.096 (46,637) 328.546 Net cash inflow/(outtlow) from operations (201,148) (310.593) (ii) Analysis of net debt I September 2023 Cashflows 31 August 2024 Cash and cash equivalents 1.877.343 237.470 1.639,873 St John's College Limlted Notes to the finanaal statements For the year ended 31 August 2024 Accountlng polldes Company Inforniation St john's College is a company limited by guarantee Incorporated in England and Wales (registered number 2114449). The registered office is College Green. Newport Road. Old St Mellons. CardittCF3 SYL Accounting convention The financial statements have been prepared in accordance with the Financlal Reportlng Standard Applicable in the UK and Republic of Ireland (FRS 102), the Accounting and Reporting by Charitie5: Statement of Recovnmended Practiie rward 8.365,968 8.365,968 Fund balances carrled forward 7,719.754 7,719,754