Letter from Doctor Martin Stephen
Dear Stakeholders
As the new Chair of Governors, I am delighted to present the first set of accounts for the Marist School under the ownership of Concept Education Holdings Limited (“Concept Education”).
The Marist School was founded in 1870 and moved to its current site in Sunninghill in 1947. Principally due to the age and small size of their convent community, the Marist Sisters Province of England decided that it was time to hand over the ownership and day to day running of the school to new ownership. We were delighted to assume ownership of the Marist School in May 2022 and to become part of the next step in a distinguished and proud history.
Concept Education is a school operator led by experienced educators from the independent schools’ sector. I am a former High Master of St Paul’s School and Manchester Grammar School, former Head of The Perse School, Cambridge and a former Chair of HMC (The Headmasters’ and Headmistress’s Conference) and our board of directors and our advisory panel includes experienced educators and experts in property, marketing and finance. The Board of Directors of Concept Education also includes Jenny Stephen who is the former Head of South Hampstead High School and former Director of Schools and Colleges for the Alpha Plus Group.
Our CEO is Hugh Dickinson who is a former officer in the Irish Guards, a qualified solicitor and an experienced school governor.
We are delighted that the transition to Concept Education’s ownership was extremely smooth and well received by staff, parents and pupils. In particular, I would thank the Principal Jo Smith for her support throughout.
Concept’s acquisition of the Marist School represents an exciting new chapter for the school which brings with it new ideas and investment. We are already well advanced in our plans and parents and visitors will already see considerable changes, especially to the convent building. Further information on our plans and the school’s progress is set out in the Principal’s Report on page 2.
Kind regards
Doctor Martin Stephen
Chair of Governors
Principal’s Report for the Academic Year 2021/2022
With the lifting of restrictions there has been a renewed sense of spirit among staff and pupils across the school as we followed our Continuity in Learning Programme and learned to live with covid. In the Lent and Summer Terms restrictions were finally dissolved and the testing centres returned to previous use. In the classroom collaborative learning increased in importance and our community started to get back to normal. I am delighted that the Continuity of Learning Programmes and improved technology facilitated excellent progress throughout this time which was highlighted through GCSE and A Level results.
The results were testament to a robust return to school programme; a clear wellbeing focus; and the resilience and determination from our students and staff. I would like to thank all staff for their commitment and care during this turbulent time as they provided wellbeing and academic support for their students. I am delighted that over half of grades achieved at GCSE were two or more grades higher than targets achieved on entry to the school.
A Level results 2022:
A* - A 68%
A* - B 84%
GCSE results 2022:
9 – 8 44%
9 – 7 65%
Two GCSE students achieved 10 Grade 9s and have gone on to be academic scholars in the VI Form. A Level achievement was also high 100% of this cohort achieved their first choice university which is a very impressive outcome. Key subjects at university include Astrophysics, Maths, Psychology, Medicine and International Relations. Students have chosen to study at home and abroad and I am delighted that we are able to facilitate this. Value Added data shows that we remain in the top 1% of schools nationally for A Level.
The new Blended Learning Programme started this academic year has been very successful building on the skills learned during lockdown. Its purpose is for technology to enhance the learning in class; all students in Years 7 to 10 now have laptops to aid their learning. This initiative will be disseminated through the Prep School over time. I am very grateful to the Technical Services team who have worked so well to ensure full training of staff, pupils and parents through lockdown and then, with the Digital Lead, helped to facilitate the Blended Learning Programme.
Outdoor Learning has continued in importance particularly, though not exclusively, in the Prep School. The level of challenge has increased with an improved curriculum which includes bushcraft and greater links to the curriculum in both Senior and Prep.
I am very proud of the variety and quality of the new Co-Curricular Programme with over 100 clubs offered each week. All dedicated to providing the additional curriculum and skills needed for a rounded education. From Maker Space to paddleboarding; from ice skating to rugby to Japanese puzzles. We introduced a new Model United Nations programme; MedSociety and Law Society were revised along with the Oxbridge Programme.
Sport has continued to achieve extremely well this year. We are 7th in the country for both netball and athletics; and I am equally proud that we have developed more variety in sports as national semi-finalists in football and ascot schools swimming champions. We have continued to host a variety of biathlons and tournaments for local Prep and Primary Schools with over 300 children in attendance.
I would like to thank all those who served on the Governing Body, both before and after the School’s acquisition by Concept Education. I would also like to thank our Bursar, James Jordan, who left at the end of the school year after spending much of his tenure dealing with the complications which lockdown, social distancing and remote schooling entailed.
Looking ahead, to the 2022/23 School Year, we have an exciting programme of capital expenditure funded by Concept Education and remain committed to maintaining our high standards of education, nurturing our pupils' talents, and fostering a supportive and inclusive learning environment.
I would like to express my gratitude to our staff, our parents, pupils, Governors and the entire Marist School community for their ongoing support. It is through this collaboration that we are able to achieve our goals and provide an exceptional educational experience.
Jo Smith
Principal
The directors present their annual report and financial statements for the Period ended 31 August 2022.
The principal activity of the company is that of Education Services via the operation of the Marist School (“the School”). The School was acquired by way of a business and assets purchase in May 2022.
Organisational Management
The Directors of The Marist School (Sunninghill) Limited, as company directors, are legally responsible for the overall management and control of the School.
The Directors delegate certain responsibilities to the Governing Board as set out in the Terms of Reference of the Governing Board.
The day-to-day running of the School is delegated to the Principal. The Head of the Prep School is responsible to the Principal for the day-to-day running of the Prep School.
The Governors meet termly. In addition, there are sub-committees for relevant areas of the School’s operations which meet on a termly basis;
Education Committee
Finance & Site Committee
Catholic Committee
The Principal, Head of the Prep School and Bursar attend meetings of the Governors and Committees. Members of the Leadership Team attend the committee meetings relevant to their area of responsibility.
The directors who held office during the Period and up to the date of signature of the financial statements were as follows:
Governors
The Directors are supported by an advisory Board of Governors of up to 12 members, of whom one, appointed by the Bishop of Portsmouth, is an ex-officio member and the remainder are co-opted members.
Each of the governors (except for the ex-officio governor) is appointed for a term of three years and may serve up to three terms. New governors receive induction training from the Principal and other officers of the school as appropriate. Governors also receive training from appropriate external organisations.
All Governors give up their time freely and no remuneration was paid during the year.
The governors who held office during the Period and up to the date of signature of the financial statements were as follows:
G Stephen (Chair)*
W Orr-Ewing (Deputy Chair)*
M Wortley (Chair of the Finance and Site Committee)
J Stephen (Chair of the Education Committee)*
H Dickinson*
J Hall*
J Ogilvy-Stuart*
A Nash
D Hayward
M O’Sullivan
*Also directors of Concept Education Holdings Limited
Financial Review
The Company is funded through fees and is also supported via a long term loan from its parent company, Concept Education Holdings Limited. The loss for the period was £71,387 and the Directors anticipate that the Company will remain loss making during this transition period, with investment being made in improving the School’s infrastructure and amenities. The Directors have put in place performance improvement measures and a programme to closely monitor expenses. We expect the investment in the School and the performance improvement measures will ultimately result in increased pupil numbers and financial results.
Principal Risks and Risk Management
The Directors and Governing Body conducts annually a review of risk assessments undertaken by the School's management to identify the major risks to which the School (and the subsidiary and associated entities covered by this report) is exposed, and the systems for their mitigation. The Governing Body's Finance and Site Committee reviews the School's Risk Management Report termly.
The Directors consider the principal risks faced by the School to be:
affordability of fees by parents across the independent school sector;
future demand for independent education;
the ability to address the economic environment and cost of living challenges;
an inappropriate mix of students or unfilled student places;
the ability to quickly implement any strategic change and the costs involved in implementation, particularly where the change is outside the School's control, such as changes in legislation.
In the opinion of the Directors, the School has established resources and review systems which, under normal conditions, should allow those risks to be mitigated to an acceptable level in its day-to-day operations.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors 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 directors 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and 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. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Marist School (Sunninghill) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Road, Sunninghill, Ascot, Berkshire, United Kingdom, SL5 7PS.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
As this is the first year that accounts have been produced, the accounting period for the company covers the period from 13 January 2022 to 31 August 2022.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include debtors and cash and bank balances, 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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the directors 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 average monthly number of persons (including directors) employed by the company during the Period was:
The loan is unsecured and repayable on demand.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
Included in creditors is an amount of £416,230 due to Concept Education Holdings Limited, the parent company and amount of £1,250,000 relating to the loan.
At 31 August 2022, the company's parent company was Concept Education Holdings Limited, a company incorporated in England and Wales.
Consolidated accounts are not required to be prepared.