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2025-08-31-accounts

Company No: 2114449 Registered Charity No: 701294

St John’s College Limited

(A company limited by guarantee)

Annual report and financial statements For the year ended 31 August 2025

St John’s College Limited Annual report and financial statements Year ended 31 August 2025

Contents Page
Trustees, officers and advisers 1 - 2
Annual Report of the Trustees including the Strategic Report 3 - 14
Independent Auditor’s Report 15 - 18
Statement of Financial Activities 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Financial Statements 22 - 37

St John’s College Limited Trustees, officers and advisers Year ended 31 August 2025

Trustees, directors and charity trustees

The Trustees of St John’s College (“the School”) are the School’s charity trustees under charity law and the directors of the charitable company. The members of the Governing Body who served in office as Trustees during the year and subsequently are detailed below.

S James (Company Secretary) P Smerald (resigned 24 March 2025, reappointed 10 April 2026) J Rees (Chair of the Trustees) R Davies S Eden A North (appointed 10 March 2026)

Each Trustee is expected to be involved in the responsibilities and the activities of all matters of governance.

Key management personnel

S Moody Head Teacher J Gordon-Smith Deputy Head (Left November 2024) E Jones Assistant Head N Taylor Assistant Head D Bartlett Finance Manager Principal address College Green Newport Road Old St Mellons Cardiff CF3 5YX Independent auditors Saffery LLP St Catherine’s Court Berkeley Place Clifton Bristol BS8 1BQ

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St John’s College Limited Trustees, officers and advisers Year ended 31 August 2025

Bankers

Lloyds Bank Plc 3rd Floor Citymark 150 Fountainbridge Edinburgh EH3 9PE Solicitors Capital Law Capital Building Tyndall Street Cardiff CF10 4AZ Investment advisors Charles Stanley & Co 7/8 Park Place Cardiff CF10 3DP Brewin Dolphin 5 Callaghan Square Cardiff CF10 5BT Website www.stjohnscollegecardiff.com

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

The Trustees present their annual report for the year ended 31 August 2025 under the Companies Act 2006 and the Charities Act 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 of the Companies Act 2006, the Company’s Memorandum and Articles of Association and the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRS 102) issued in 2015 (“SORP 2015”).

REFERENCE AND ADMINISTRATIVE INFORMATION

St John’s College (“the Company”) is a company limited by guarantee, company registration number 2114449. It is registered as a charity under registration number 701294. It is exempt from the requirement to include the word “limited” in its name.

Its registered office and principal address is:

College Green Newport Road Old St Mellons Cardiff CF3 5YX

Website: www.stjohnscollegecardiff.com

The School

The School principally provides a high level of education to boys and girls in Cardiff and the surrounding areas from the ages of 3 to 18 years in the context of a Roman Catholic Cathedral Choir school, which is designated as having religious character, specifically Roman Catholic.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Body

The company’s directors are the trustees and are referred to as trustees throughout.

Members elect trustees at the Annual General Meeting for a period of up to three years. The body of trustees of the company is limited to no more than seven persons. 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 or Annual 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 trustees on the basis of competence, specialist skills and a commitment to the Catholic ethos of the School. The current board of trustees consists of professionals with backgrounds in law, finance and business. At the present time, they all 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 competencies 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 Disclosures and Barring Service (DBS), as is every member of staff and volunteer at the School. All new trustees will be required to undertake an enhanced DBS

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

disclosure prior to being appointed plus any further safeguarding measures as required by law and as administered by the ISC at the appropriate time.

The School’s Board of Trustees includes all the trustees, who advise and support the Head and staff in managing and administering the work of the College. The Board expects to meet on up to four occasions each academic year.

Volunteers

All trustees give of their time freely and no remuneration was paid during the year. In addition, a number of parents undertake volunteer roles to plan fundraising events and activities via ‘The Friends of St John’s’ group.

Organisation

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 Trustees set the pay and remuneration for the Head and key management personnel. Remuneration is set to provide appropriate incentives to encourage and reward enhanced performance. The appropriateness and relevance of the remuneration policy is reviewed annually including reference to comparisons with other independent schools.

Other Relationships

The School is a member of a number of organisations including the Welsh Independent Schools Council, the Catholic Independent Schools Conference, the Association of Governing Bodies of Independent Schools, the Choir Schools Association and The Society of Heads, which enables the School to share expertise, knowledge and experience across the independent sector.

AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES

The object of the Charity, in accordance with its Memorandum and Articles of Association, is for the advancement of education generally and, in connection therewith, to acquire, provide, conduct and develop an Independent Roman Catholic School for the advancement of education of children of any creed, with preference to children of the Roman Catholic faith. This is achieved and realised through the context of a specialist nationally recognised Cathedral Choir School, one of only two Roman Catholic Cathedral Choir Schools in the United Kingdom. In 2009 the School was designated by the National Assembly for Wales as a school of religious character, specifically Roman Catholic.

In setting the objectives of the Charity and in planning activities, the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee charging.

The aims and objectives are more fully articulated as follows:

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

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’s performance at A-level and GCSE is excellent. It is at the very top of the leading group of independent schools registered in Wales with WAG and thus inspected by ESTYN, ranks consistently very highly in public examination league tables, and has succeeded in ensuring that all sixth formers are successful in entering the best and mostly Russell Group universities, including Oxbridge Colleges, to study subjects of their choice. Its objectives include maintenance (with appropriate succession planning and professional training) of an experienced, high-quality body of teachers. The School strives to further enhance local community support and to foster access to pupils with limited financial resources.

In terms of financial objectives, the Charity’s funds are managed prudently and returns are measured against market benchmarks but with a very sharp eye to security. The trustees also strive to generate an operating surplus by the School and the maintenance of reserves to provide the resources for supporting means-tested awards for pupils who would otherwise 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 bring. There is an ongoing commitment to improving facilities and resources.

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

The School continued to invest in its facilities during the year. This included completion of the new Sixth Form science laboratories at the Sixth Form Centre at Eastern Business Park and further investment in security at main school site.

PUBLIC BENEFIT

Bursaries and scholarships

Bursaries

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 of the 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.

The Choir provides weekly music to the Cardiff Metropolitan Cathedral Church of St. David, for the benefit of the wider Catholic community in Cardiff. In addition, it offers a service to Senedd Cymru (the Welsh Parliament) and to Wales in the National Cathedral and has provided music for special national and civic events such as opening sessions of the Welsh Assembly, national occasions welcoming Heads of State, and BBC religious broadcasts on national network. This enriches the lives of a wide range of members of the public of diverse age, background and ethnic origin, as characterised by those large numbers who attend public and civic services and concessioned city concerts.

Choristers benefit from specialist teaching and training from high quality music and peripatetic staff to acquire a complex range of knowledge, understanding and musical skill; gain moral, spiritual and aesthetic enrichment through weekly service given throughout the year; and develop an enhanced attitude and commitment to wider educational and academic aspiration.

Students require tenacity and commitment to fulfil the obligations 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 closed for public holidays. The College provides support and safeguarding staff to enhance the quality of this activity and ensure the wellbeing of our choristers.

St John's College had the privilege of hosting the prestigious Catholic Independent Schools Conference 2024, a significant event in the educational calendar. The two-day conference was a vibrant meeting point for Headteachers and Senior Leadership Teams from Catholic schools nationwide, as well as for representatives of businesses focused on education and event sponsors. The Cathedral Choir sang during the Conference Mass, beautifully marking the Feast of the Presentation of the Lord.

In February 2025, the Cathedral Choir provided music for the Mass at Cardiff Metropolitan Cathedral of St. David to celebrate the visit of the relic of Saint Carlo Acutis. Members of the school Big Band also played in what was described as a joyous celebration.

The amount of our wider public benefit means-tested and choral foundation bursaries during 2024/2025 was £87,725 (2024 £135,815) and represented 1.02% of our gross fees. They provided assistance to 25 pupils including a limited number of 75% + awards. Bursaries are in line with our total investment income that was £89,118 (2024 - £86,893).

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

Scholarships

The School awards scholarships based on academic, musical and sporting merit and potential. Scholarships totalled £369,366 (2024 - £329,450), assisting 94 students and represented 4.30% of gross fees.

The progress of students awarded scholarships is reviewed annually. There have been no scholarships withdrawn this year as a result of these reviews.

Other discounts

The School offers discounts to families where parents have more than one child at the School, to underline the value that we place on continuity for families. We also offer a discount scheme to staff members, aimed at attracting and retaining high calibre staff.

Details of our bursary and scholarship policy are available on our website: www.stjohnscollegecardiff.com

Other charitable public benefit activity

Other charitable public benefit activity consistent with the School’s aims and ethos this year has included offering use of the School’s facilities/assets as follows:

The School also encourages its community to take part in a range of charitable fund-raising throughout the year. This year, fund-raising was enthusiastically embraced as always by pupils and parents. Activities (including the very popular Christmas and Summer Fayres and Quiz Night organised by The Friends of St John’s) supported the following charities:

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

STRATEGIC REPORT

ACHIEVEMENT AND PERFORMANCE

Pupil numbers

During the course of the academic year, the School had an average of 517 day pupils. The roll has fallen in line with the National reported drop from the ISC due to the impact of VAT on school fees.

Academic

The School continues to provide an exceptionally high standard of academic teaching, as part of an all-round education to pupils with a range of abilities. St John’s College has achieved another excellent performance in public examinations this year, enjoying enormous success at GCSE and A Level.

We are proud that St John's College has been recognised by The Sunday Times Parent Power Good School Guide 2025 as the best performing secondary school in Wales based on GCSE and A Level results.

In 2025, at A-level, a pass rate of 87% was achieved at ‘A’, ‘A’ and ‘B’ level which was an extremely strong result by national standards. 72% of all results were grade ‘A’ or ‘A’. A pass rate of 100% was achieved.

The majority of students moving into higher education next year have been offered places in the subject of their choice at Oxbridge and Russell Group universities.

At GCSE level, 98% of results were at ‘A’- ‘C’ grades, and 81% of all results were grade ‘A’ or ‘A’. In addition, 66% of pupils attained 9 or more A* / A grades.

In 2018 Government ESTYN Inspectors graded the School Excellent in the areas of Standards, Wellbeing and Attitudes to Learning, and Care, Support and Guidance.

As a result of all of the above, the School is confident that it has achieved its objective in terms of academic performance. Continued academic achievement is supported by an ongoing review of the academic curriculum in order to provide a breadth and challenge in the nature and range of subjects, as well as directing further resources to School departments and co-curricular activities.

This strategy is incorporated in the annual School Improvement Plan, drafted by the Senior Leadership Team, and reviewed and endorsed by the Trustees in order to 1) maintain funding for bursaries directed at the School’s objectives and 2) to finance further improvements to the School’s classrooms, catering facilities and outdoor space.

Music and Drama

We continue to serve the Archdiocese of Cardiff-Menevia in the Cardiff Metropolitan Cathedral Church of St. David, providing music on Sundays, and at Christmas, Easter and other services. The Cathedral Choir also provided music for the Mass of Welcome for the relic of Saint Carlo Acutis in February 2025.

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

Many pupils are receiving additional music tuition through our extensive range of peripatetic music lessons - pupils have had many opportunities this year to showcase their hard work and talent, 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 Orchestra performed in our popular Christmas Concert, held at the Cardiff Metropolitan Cathedral Church of St. David.

They also travelled to Leweston School in Dorset to perform in a highly successful collaborative concert, including both of the schools and other local musical groups.

The Junior department have had a busy year in performance, including a successful and much enjoyed concert in collaboration with Llysfaen Primary School in the autumn, and in March, the biennial junior production. Our junior pupils put on a spectacular performance of the musical “The Lion King Jr” over two nights in the school hall, showing great talent, dedication and hard work.

Our Infant Department performed in their annual production for their parents, who were also able to attend the Christmas tableau and service at St Cadoc’s Church. The infants returned to perform Christmas carols at the church for parishioners.

Our Speech and Drama classes are increasingly popular, and we have enjoyed huge success in LAMDA examinations, with most pupils achieving distinctions in their certified areas of study.

Sport

Our facilities continue to improve with future plans for the addition of a new multi-purpose sports surface at the main site and a Sports Dome at its playing fields. We have developed a bespoke sixth form enrichment programme which includes a range of physical activity and also a variety of practical skills to help equip our older students for adult life. We aim to inspire all pupils to enjoy fitness and sport and offer a wide range of activities.

This year teams competed with other local schools at various fixtures in football, rugby, netball, basketball, cricket and rounders. Through these fixtures, pupils have been able to develop both sporting skills and teamwork. Our cricket team was particularly successful, reaching the semifinals of the Cardiff Schools competition.

A number of students have also reached a high level in their individual disciplines and have competed at both regional and national level.

Our successful chess club continues to be well attended and the team continues to enjoy success. One of our students came an impressive second in the British U10 Junior Chess Championship, the best result of a Welsh player in any age category at this competition since 2017, and was also crowned Welsh U10 Champion. Another pupil was the champion in the U13 category of the South Wales Spring Chess Congress 2025.

Technology

Last year, our school was awarded the prestigious Silver TeenTech Centre of Innovation status. This remarkable recognition came as a result of our students' outstanding contributions to the TeenTech Awards, a renowned competition celebrating young people's achievements in science, technology, engineering, and mathematics (STEM) across the UK. Our pupils have engaged with

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

a range of cybersecurity events this year, and successfully took part in a rage of competitions, further developing their knowledge and skills in this area.

Notable performances at competitions included our Senior computing pupils taking part in the BEBRAS UK challenges with one pupil achieving a very rare score of full marks.

In addition, our R14 pupils entered the Cyber Explorers Cup and tasked with unravelling cyberrelated enigmas, the team showcased their prowess and collaboration. Our team achieved an excellent second place this year.

Our R15 students also entered a Cyber Security Competition organised by Cardiff University and USW, and reached the finals, despite competing against mostly college and sixth form pupils.

Wider Education

The extensive co-curriculum continues to flourish:

A large number of students took part in the Duke of Edinburgh Scheme at Bronze, Silver and Gold levels. The expeditions, in particular, develop resilience, determination and strength of character, and it is always encouraging to see pupils helping each other along on these occasions.

We have continued to achieve success in the F1 in Schools competition, at Regional and National levels. This year at the Regional Finals our teams won a range of trophies including Best Verbal Presentation, Best Engineering, Development Regional Champions, Best Sponsorship and Marketing and second place overall. Two teams progressed to the National Finals where one team won an award for their outstanding portfolio.

Our maths and science students competed in and received awards from a number of competitions, including the Royal Society of Chemistry’s “Top of the Bench”, the Biology Challenge, the Intermediate Biology Olympiad, the British Maths Olympiad, and the UK Maths Challenge, which resulted in a finish of third place overall in the Welsh Regional heat. Many students also completed CREST awards.

A group of our senior students competed at the First Lego League Challenge STEM competition, where they won trophies for their “Robot Run” and overall performance.

Sixth Form Students competed in the prestigious Young Citizens’ Bar Mock Trial competition, this year hosted by our school. The quality of the event was highly praised by the judges, made up of current and retired legal professionals. The school also entered a Moot law competition at Cardiff University.

Personal and Social Development

All pupils belong to one of four "Houses" and represent their house in over 20 sporting, creative, musical and charity events each year. The House system provides 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, running stalls, displaying food, music, dance and dress from their family heritage. Pupils from nursery to sixth form were invited to attend to celebrate and share in the diversity of the school, while raising funds for a local charity helping marginalised people and communities both locally and around the world.

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

Our Nursery pupils had a memorable visit to Pentwyn Nursing Home in March, where they created artwork with residents, and then entertained them with their singing. It was a wonderful way for our youngest students to connect with our community.

Throughout the school, the Jesuit Pupil Profile is used in order to link education with formation of character. Each term focuses on a particular pair of virtues, and how these universal values can form part of the development of students as they progress through the school, regardless of religious belief or cultural background.

Wellbeing

Staff and pupil wellbeing are very important to us, and we are constantly seeking to ensure that all members of our community are able to thrive in a safe and supportive environment. We have appointed a School Wellbeing Officer to help implement policies 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. They also run workshops for parents on relevant topics.

FINANCIAL REVIEW

Results for the Year

The School’s operating deficit for the year was £565,358 (2024 – operating surplus of £166,898).

The Trustees consider this financial performance to be in line with expectation given the adjustments needed due to the addition of VAT to school fees halfway through the school year, along with the loss of charitable relief on business rates and the increases to both teacher pension costs and employer national insurance. A tight control of spending, along with continually reviewing our efficiency processes has allowed the school to minimise the impact of the addition of VAT and loss of charitable reliefs on school fee levels, and puts us in a position to adjust going forward.

Investment into our sixth form science facilities at Eastern Business Park were completed during the year. Also, continued investment has been made into our main site security.

The school has cash reserves of £1,255,441. Budgets prepared for the 2025/26 year suggest that the school will generate a very much reduced deficit. This is in line with expectations as we adjust to the addition of VAT to school fees halfway through the current school year, along with the loss of charitable relief on business rates and the increases to both teacher pension costs and 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’ meeting, they formally review the identified risks which the School may face and liaise with the School’s management in this regard.

The key risks identified for any independent school relate to reputation, health and safety, safety of all pupils, and general financial, operational and strategic risks. Controls and safeguards which are put in place to manage the major risks include: appropriate levels of insurance cover; terms of reference for sub-committees where applicable (in practice and almost without exception, all matters are addressed by the full Board); strategic planning; budgeting and cash

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

flow forecasting; formal written policies; clear authorisation and approval levels; strict adherence to DBS vetting and safeguarding procedures in order to protect school pupils; and completion of appropriate risk assessments on all relevant aspects of the School’s activities.

The College Senior Leadership Team implements these matters on an ongoing basis. The Head reports to the Board of Trustees. The Finance Manager, Estates Manager, Human 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 mitigated, but this cannot provide absolute assurance.

Limited fundraising is used by the school. The charity’s main source of income is pupil admissions.

All pupil applications are independently reviewed by employees of the school and no professional or commercial participators are used in the decision-making process.

INVESTMENTS

The objectives of the School’s investment policy are to maintain a secure level of reserves for the College while achieving growth in the capital of the College.

The Trustees seek to maximise the value of investment returns for the benefit of pupils by the use of short-term 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 Trustee Investment 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 date, the College held unrestricted reserves of £7,376,294 (2024 - £7,886,652).

The trustees’ intention is that any surplus will be contributed towards the costs of the strategic capital projects and scheduled maintenance to the Grade II listed buildings to avoid the need for bank borrowings, and to maintain a reserve for wider public benefit bursaries; however, they have not specifically designated a set amount for this purpose.

FUTURE PLANS

The headmaster, Mr Shaun Moody, will be retiring in August 2026, and leaves with the heartfelt thanks and best wishes of the Board of Trustees for his long and loyal service to the College. The Board of Trustees has appointed Mr Luke Ramsden as headmaster of St John’s College, starting in September 2026.

In light of the academic and financial performance, 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 main site and a Sports Air Dome at the playing fields remain under discussion.

We continue the focus on increasing our outreach on social media, particularly in the wider education arena, through the use of LinkedIn. Further Alumni events are to be hosted to maintain and develop contact with our former pupils.

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St John’s College Limited Annual Report of the Trustees For the year ended 31 August 2025

STATEMENT OF ACCOUNTING AND AUDITING RESPONSIBILITIES

The members of the Governing Body (who are also the directors of the School for the purposes of company law) are responsible for preparing the Annual Report and the financial statements with applicable law and regulations.

Company law requires the Governing Body to prepare financial 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 Practice (United Kingdom Accounting Standards) and applicable law.

Under company law the Governing Body members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of 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 Governing Body members are required to:

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

INFORMATION PROVIDED TO THE AUDITOR

Insofar as each of the Trustees, as members of the Governing Body, at the date of approval of this report is aware there is no relevant audit information (information needed by the Company’s auditor in connection with preparing the audit report) of which the Company’s auditor is unaware. Each member of the Governing Body has taken all the steps that he or she should have taken as a member of the Governing Body in order to make himself or herself aware of the relevant audit information and to establish that the Company’s auditor is aware of that information.

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Independent auditor’s report To the members of St John’s College Limited Year ended 31 August 2025

Opinion

We have audited the financial statements of St John’s College Limited for the year ended 31 August 2025 which comprise Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company'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. 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 course of the audit or otherwise appears to be materially misstated. If

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Independent auditor’s report To the members of St John’s College Limited Year ended 31 August 2025

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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report and Strategic Report.

We have nothing to report in respect of the following matters where 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 set out on page 11, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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Independent auditor’s report To the members of St John’s College Limited Year ended 31 August 2025

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

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

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

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, 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 context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.

Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales as well as inspections by Estyn.

Audit response to risks identified:

We considered the extent of compliance with these laws 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 company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might 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 of journal 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 stage of the audit, 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 noncompliance with laws and regulations is from the events and transactions reflected in the financial

1716

Independent auditor’s report To the members of St John’s College Limited Year ended 31 August 2025

statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

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

Michael Strong (Senior Statutory Auditor) St Catherine’s Court for and on behalf of Saffery LLP Berkley Place Statutory Auditors Clifton Bristol BS8 1BQ Date: 5 May 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

1817

St John’s College Limited Statement of financial activities Year ended 31 August 2025

Note
Income from:
Charitable activities
School fees receivable
2
Investment income
3
Donations and legacies
4
Other income
Total incoming
resources
Expenditure on:
Charitable activities
Education and grant
making
5
Costs of generating funds
Investment management
fees
Total expenditure
Net income/(outgoings)
before investment
gains/(losses)
Investment gains/(losses)
9
Net income/(outgoings)
Gains/(Losses) on
revaluation of investment
properties
Net movement in funds
Fund balances brought
forward
Fund balances carried
forward		 Unrestricted
funds
£
7,004,663
89,119
1,625
18,143
7,113,550
7,737,199
17,694
7,754,893
(641,343)
76,034
(565,309)
55,000
(510,309)
7,886,652
7,376,343		 Restricted
funds
£
-
-
5,240
-
5,240
5,240
-
5,240
-
-
-
-
-
-
-		 2025
Total
£
7,004,663
89,119
6,865
18,143
7,118,790
7,742,439
17,694
7,760,133
(641,343)
76,034
(565,309)
55,000
(510,309)
7,886,652
7,376,343		 2024
Total
£
7,542,525
86,893
5,440
12,946
7,647,804
7,631,678
17,069
7,648,747
(943)
167,841
166,898
-
166,898
7,719,754
7,886,652

1918

St John’s College Limited Cash flow statement For the year ended 31 August 2025

Note 2025 2025 2024 2024
£ £ £ £
Net cash provided by
operating activities (i) (372,618) (201,148)
Cash flows from investing
activities
Remitted investment income 40,957 39,381
Capital expenditure (52,722) (75,703)
Net cash provided by investing (11,765) (36,322)
activities
Increase/(decrease) in cash (384,383) (237,470)
in the year
Net funds 1 September 2024 1,639,873 1,877,343
Net funds at 31 August 2025 1,255,490 1,639,873
(i)
Reconciliation of net incoming resources to net cash flow from operations
2025 2024
£ £ £ £
Net income/(deficit) (510,309) 166,898
Investment losses/(gains) (131,034) (167,841)
Investment income (89,119) (86,893)
Finance costs 17,694 17,069
Depreciation charge 195,392 244,802
Capital goods scheme adjustment 107,939 -
Loss on disposal of fixed assets - -
Loss on disposal of investment property - -
(Increase)/decrease in debtors (58,199) (46,637)
Increase/(decrease) in creditors 95,018 (328,546)
Net cash inflow/(outflow) from
operations (372,618) (201,148)
(ii)
Analysis of net debt
1 September Cashflows 31 August
2024 2025
£ £ £
Cash and cash equivalents 1,639,873 (384,383) 1,255,491

2120

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

1. Accounting policies

1.1 Company information

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, Cardiff CF3 5YX.

1.2 Accounting convention

The financial statements have been prepared in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the 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) (Charities SORP (FRS 102) 2019), the Charities Act 2011 and the Companies Act 2006. The accounts are drawn up on the historical cost basis of accounting, as modified by the revaluation of investment properties and other investments.

The entity is a public benefit entity as defined under FRS 102.

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

Going concern

Having reviewed the funding facilities available to the School together with the expected ongoing demand for places and the School’s future projected cash flows, the Trustees have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Accounting and Reporting Responsibilities on page 11.

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the School’s financial statements.

1.3 School fee income

School fee income is recognised in the Statement of Financial Activities in the accounting period to which it relates. School fee income is stated after deducting scholarships, bursaries and other remissions granted by the School. School fee income received in respect of future accounting periods is carried forward as deferred school fees within creditors and is taken to incoming resources in the term when used or else is refunded.

Student accommodation and guardianship income is recognised in the Statement of Financial Activities in the accounting period to which it relates.

1.4

Other incoming resources

Other incoming resources are recognised in the Statement of Financial Activities on the accruals basis.

2221

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

1.5 Grant income

Grant income is recognised when there is evidence of entitlement, receipt is probable, the amount can be reliably measured and when any performance related conditions are met, if applicable.

1.6 Investment income

Investment income from bank balances, portfolio investments and fixed interest securities is accounted for on an accruals basis. Income from investment properties is accounted for in the period to which the rental income relates.

1.7 Voluntary income

Voluntary incoming resources are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.

Voluntary income for the School’s general purposes is accounted for as unrestricted and is credited to the general reserve.

1.8 Expenditure

Expenditure is accrued as soon as a liability is considered probable, and is discounted to present value for longer-term liabilities. Expenditure attributable to more than one cost category in the Statement of Financial Activities is apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate. The direct costs incurred in preserving the School’s ancient buildings and their contents are shown as a charitable activity distinct from that of education and grant making. Irrecoverable VAT is included with the item of expenditure to which it relates.

Charitable activities represent the costs of providing education at the School and the upkeep and improvement of the facilities.

Staff costs are recognised in the period to which they relate. Termination payments are recognised as an expense immediately when the School is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Support costs are the direct expenses attributable to School activities. They are allocated to the charitable activity, being the provision of education.

Grants awarded are expensed as soon as they become legal or operational commitments.

Governance costs comprise the costs of complying with constitutional and statutory requirements.

1.9 Tangible fixed assets

All fixed asset additions are recorded at cost or deemed cost less depreciation. It is the policy of the School to review all expenditure over £500 and capitalise where necessary and appropriate.

Other expenditure on equipment incurred in the normal day-to-day running of the School and its subsidiaries is charged to the Statement of Financial Activities as incurred.

2322

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

1.10 Depreciation

Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual value based on current market prices, in equal annual instalments over their expected useful economic lives as follows:

Freehold buildings 2% per annum Motor vehicles 25% per annum Office furniture and equipment 25% per annum Computers, musical instruments and 33.3% per annum educational equipment Leasehold improvements 10% per annum or length of lease

1.11 Investments

Investment properties are properties held primarily to earn capital appreciation or rental income and are valued at their fair value at the balance sheet date. All properties are revalued at least every five years.

Listed investments are valued at market value as at the balance sheet date. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities and are allocated to the appropriate fund according to the “ownership” of the underlying assets.

1.12 Fund accounting

The charitable trust funds of the School are accounted for as unrestricted or restricted income, or as endowment capital, in accordance with the terms of trust imposed by the donors or any appeal to which they may have responded. Endowment funds are further subdivided into permanent and expendable.

Unrestricted income is expendable at the discretion of the Trustees either to further the School’s objects or to benefit the School itself. Where the Trustees decide to set aside any part of these funds to be used in future for some specific purpose, this is accounted for by transfer to the appropriate designated fund.

Restricted income comprises gifts, legacies and grants where there is no capital retention obligation or power but only a trust law restriction to some specific purpose intended by the donor.

1.13 Leases

Rentals paid under operating leases are charged to the Statement of Financial Activities evenly over the period of the lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.14 Stocks

Stocks are valued at the lower of cost and net realisable value.

2423

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

1.15 Financial instruments

Financial instruments are recognised in the School’s balance sheet when the School becomes party to the contractual provisions of the instrument. Financial assets and liabilities are only offset when there is a legally enforceable right to and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are impaired where there is objective evidence that the estimated future cash flows have been affected. The impairment loss, being the difference between the carrying amount and the estimated future cash flow, is recognised in the Statement of Financial Activities.

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.16 Pension schemes

The School contributes to the Teachers’ Pension Scheme. This scheme is an unfunded multiemployer pension scheme. It is not possible to identify the School’s share of the underlying assets and liabilities of the Teachers’ Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS 102, it accounts for the scheme as if it were a defined contribution scheme. The School’s contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable. The School also contributes to a defined contribution scheme for non-teaching staff, and some members of teaching staff have since been added to this defined contribution scheme. The contributions made by the School to both pension schemes are charged to the Statement of Financial Activities when they fall due.

1.17 Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

2524

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

1.18 Critical accounting judgements and key sources of estimation uncertainty

In the application of the School’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

The valuations for the investment properties are subjective in nature and the current valuations have been made by reference to transactions involving similar properties in the area.

2. Charitable activities – fees receivable

School fees
Scholarships, bursaries and other remissions
3.
Investment income
Interest received
Rental income
Dividends from investment portfolio
4.
Donations and legacies
Sundry donations		 2025
£
7,592,578
(587,915)
7,004,663
2025
£
257
40,700
48,162
89,119
2025
£
6,865
6,865		 2024
£
8,194,645
(652,120)
7,542,525
2024
£
281
39,101
47,511
86,893
2024
£
5,440
5,440

2625

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

5. Analysis of expenditure

(a) Total expenditure

2025
Staff costs
(note 6)
£
Charitable
expenditure
Education and grant making
Teaching
5,964,147
Premises costs
-
Motor expenses
-
Support costs
-
Total
5,964,147
2024
Staff costs
(note 6)
£
Charitable
expenditure
Education and grant making
Teaching
5,750,206
Premises costs
-
Motor expenses
-
Support costs
-
Total
5,750,206		 Depreciation
(note 7)
£
37,045
158,347
-
-
195,392
Depreciation
(note 7)
£
68,536
176,266
-
-
244,802		 Other
£
282,096
963,621
129,152
208,031
1,582,900
Other
£
205,708
1,000,475
165,527
264,960
1,636,670		 Total
2025
£
6,283,288
1,121,968
129,152
208,031
7,742,439
Total
2024
£
6,024,450
1,176,741
165,527
264,960
7,631,678

(b) Governance included in support costs:

Audit fees
Accountancy fees paid to auditors		 2025
£
16,750
3,100		 2024
£
15,950
2,950

2726

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

6. Staff costs

2025
£
2024
£
The aggregate payroll costs for the year were as follows:
Wages and salaries
4,516,352
4,452,010
Social security costs
498,625
435,458
Other pension costs
949,170
862,738
5,964,147
5,750,206
Included in the above were termination payments totalling £62,203 (2024: £26,889).
Aggregate employee-benefits of key management personnel
502,446
520,429
2025
2024
Number of higher paid employees in bands of:
£60,001 to £70,000
4
4
£70,001 to £80,000
-
-
£80,001 to £90,000
-
1
£90,001 to £100,000
1
-
£110,001 to £120,000
1
1
The number with retirement benefits accruing in defined benefit
schemes was:
5
5
of which the contributions amounted to
96,051
100,121
The average number of the School’s employees during the year was as follows:
2025
2024
Teaching staff
92
98
Support staff
22
22
114
120		 2024
£
4,452,010
435,458
862,738		 2024
£
4,452,010
435,458
862,738
5,750,206
2024
4
-
1
-
1
5
100,121
2024
98
22
120

2827

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

7. Tangible fixed assets

Cost or deemed cost
At 1 September 2024
Additions
Disposals
VAT adjustment
Depreciation
At 1 September 2024
Charge for the year
Eliminated on
disposals
Net book value
At 31 August 2025

At 31 August 2024		 Freehold
land and
buildings
£
6,716,156
16,721
-
(74,461)
6,658,416
2,121,660
129,289
-
2,250,949

4,407,467
4,594,496		 Motor
vehicles
£
78,130
-
-
-
78,130
78,130
-
-
78,130
-
-		 Office
furniture
and
equipment
£
932,479
2,028
-
(6,379)
928,128
903,338
9,349
-
912,687
15,441
29,141		 Computers,
musical
instruments
and
educational
equipment
£
1,817,433
33,972
(750)
(20,290)
1,830,365
1,762,341
37,045
(750)
1,798,636
31,729
55,092		 Leasehold
Improve-
ments
£
217,505
-
-
(6,809)
210,696
57,806
19,709
-
77,515
133,182
159,699		 Assets Under
Construction
£
3,384
-
-
-
3,384
-
-
-
-
3,384
3,384		 Total
£
9,765,087
52,721
(750)
(107,939)
9,709,119
4,923,275
195,392
(750)
5,117,917
4,591,202
4,841,812

28 29

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

All tangible fixed assets are held for use on charitable activities. Freehold land and buildings includes £187,500 (2024: £187,500) of land which is not depreciated. The adjustment to fixed assets reflects the impact of joining the VAT capital goods scheme.

3029

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

8. Investment properties

Value at 1 September 2024
Disposal
Movements in market value
Value at 31 August 2025		 2025
£
1,190,000
-
55,000
1,245,000		 2024
£
1,190,000
-
-
1,190,000

External valuations were carried out on the individual properties by Ingram Evans Care Limited in July 2021. A desktop valuation was carried out by Peter Alan for November 2025.

9. Securities investments

Value at 1 September 2024
Investments disposed of
Income reinvested
Investment managers fees
Fair value (loss)/gain
Value at 31 August 2025		 2025
£
1,992,358
-
48,162
(17,694)
76,034
2,098,860		 2024
£
1,794,074
-
47,512
(17,069)
167,841
1,992,358

Security investments are measured by reference to quoted prices. Their book cost totalled £1,836,205 (2024: £1,737,716).

Investments comprise of:

Fixed interest
Equities
Alternative assets:
Hedge funds
Property funds
Cash
Total		 2025
£
394,481
1,366,988
163,522
99,193
2,024,184
74,674
2,098,858		 2024
£
397,777
1,259,500
169,930
107,035
1,934,242
58,116
1,992,358

30 31

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

10.
Stock
Stocks of school requisites
11.
Debtors
Trade debtors
Other debtors and prepayments		 2025
£
9,500
2025
£
204,775
153,997
358,772		 2024
£
9,500
2024
£
211,321
89,252
300,573

Included within debtors is a balance of £45,803 (2024: £72,123) which is due in greater than 1 year.

12. Creditors: amounts falling due within one year

Trade creditors
Social security and other taxation
Accruals
Deferred school fees (see note 13)		 2025
£
197,105
546,941
147,474
1,290,962

2,182,482
 2024
£
135,155
103,038
156,339
1,692,932
2,087,464

3231

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

13. Deferred fees

Deferred fees consisted of fees paid in advance of tuition. The amounts were split as follows:

Within one year 2025
£
1,290,962		 2024
£
1,692,932

Amounts due within one year related to fees paid before the 1 September deadline for the forthcoming term.

14. Analysis of net assets between funds

nalysis of net assets between funds
Tangible fixed assets
Property investments
Securities investments
Current assets
Cash and cash equivalents
Creditors due < 1 year		 2025
Unrestricted
£
4,591,202
1,245,000
2,098,860
368,272
1,255,491
(2,182,482)
7,376,343		 2024
Unrestricted
£
4,841,812
1,190,000
1,992,358
310,073
1,639,873
(2,087,464)
7,886,652

3332

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

15. Unrestricted funds

Unrestricted funds
Balance at 1 September 2024
Deficit for the year
Investment property revaluation
Realised revaluation surplus
Balance at 31 August 2025		 Revaluation
reserve
£
546,219
-
55,000
(7,564)
593,655		 General
reserve
£
7,340,433
(641,343)
76,034
7,564
6,782,688		 Total
£
7,886,652
(641,343)
131,034
-
7,376,343

16. Restricted funds

Restricted funds
Choir donations and gifts		 Balance at 1
September
2024
-		 Incoming
donations
5,240		 Other
resources
expended
(5,240)		 Balance at
31 August
2025
-

The School receives discretionary amounts from the Archdiocese of Cardiff to be used to finance the choir’s running costs.

17. Related party disclosure

During the year, the trustees received no remuneration (2024: £nil). No trustees claimed expenses (2024: £nil).

18. Revaluation reserve

Revaluation reserve brought forward
Gain on revaluation of investment
Realised revaluation surplus
Revaluation reserve carried forward		 2025
£
546,219
55,000
(7,564)
593,655		 2024
£
553,783
-
(7,564)
546,219

3433

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

19. Pension schemes

Teachers’ Pension Scheme

The School participates in the Teachers' Pension Scheme (England and Wales) ("the TPS") for its teaching staff. The pension charge for the period includes contributions payable to the TPS of £916,764 (2024: £838,565) and at the year-end £73,065 (2024: £78,339) was accrued in respect of employer contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by the Teachers' Pension Scheme Regulations 2014. Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. The School is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the School has taken advantage of the exemption in FRS 102 and has accounted for its contributions of the scheme as if it were a defined contribution scheme.

The employer contribution rate is set following scheme valuations undertaken by the Government Actuary’s Department. In October 2023, the valuation of the Teachers’ Pension Scheme as at 31 March 2020 was made available. This confirmed that the employer contribution rate increased to a total of 28.68%, consisting of employer scheme contributions of 28.60% and an administration levy of 0.08%. This took effect from 1 April 2024.

Defined contribution schemes for support staff

The school also contributed to a defined contribution scheme for other members of the support staff. Total contributions to the scheme for the year amounted to £32,406 (2024: £24,173). At the year-end contributions of £nil were outstanding (2024: £nil).

3534

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

20. Operating leases

Lessee

At the reporting date the company had contracted with tenants for the following minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between one and five years
After five years		 2025
£
144,734
231,486
724
376,944		 2024
£
173,313
409,397
-
582,710

Costs recognised in respect of operating leases during the year totalled £144,432 (2024: £173,313). The figures in the current year are stated exclusive of VAT (2024: inclusive of VAT).

Lessor

The operating leases represent leases of the School’s investment property. The leases run for a term up to three years and rentals are fixed for this period.

Within one year
Between one and five years		 2025
£
31,995
12,906
44,901		 2024
£
40,635
26,865
67,500

21. Capital commitments

At the balance sheet date, the company had committed to capital expenditure totalling £nil (2024: £nil).

22. Post balance sheet events

No post balance sheets events noted

3635

St John’s College Limited Notes to the financial statements For the year ended 31 August 2025

23.
Comparative figures by fund type
Year ended 31 August 2024
Income from:
Charitable activities
School fees receivable
Investment income
Donations and legacies
Other income
Total incoming resources
Expenditure on:
Charitable activities
Education and grant-making
Costs of generating funds
Investment management fees
Total expenditure
Net outgoings before investment gains
Investment gains
Net income
Gains on revaluation of fixed assets
Net movement in funds
Fund balances brought forward
Fund balances carried forward		 Unrestricted
£

7,542,525
86,893
440
12,946
7,642,804
7,626,678
17,069
7,643,747
(943)
167,841
166,898
-
166,898
7,719,754
7,886,652		 Restricted
£
-
-
5,000
-
5,000
5,000
-
5,000
-
-
-
-
-
-
-		 Funds
total
£
7,542,525
86,893
5,440
12,946
**7,647,804 **
7,631,678
17,069
7,648,747
(943)
167,841
166,898
-
166,898
7,719,754
7,886,652

3736