ST PAUL'S GIRLS' SCHOOL
Provision of education to girls aged 11-18 by running an academically selective school offering a stimulating and ambitious programme of study with a rich and diverse extra-curricular programme. Bursaries enable a wide range of girls to take advantage of this exceptional education. The School's values and ethos are outlined on its website http://spgs.org/about/ethos/.
Latest income
£29.7m
Latest spending
£29.7m
Registered
2007
Accounts read
FY2025
Financial health, per its FY2025 accounts
The accounts state that the school generated a net income of £863,000 for the year ended 31 August 2025, with total income of £30,542,000 against total expenditure of £29,679,000. Per the trustees' report, free reserves were £7,418,000, which exceeds the stated minimum cash reserves policy of £4,500,000, and the governors confirmed adequate resources to continue activities for the foreseeable future.
What the accounts disclose
Largest income source: School fees (79% of income)
“The total income for the year ended 31 August 2025 was £30,542,000 (2024: £29,402,000) of which £24,212,000 (2024: £23,583,000) was fee income.” — page 14
Per its FY2025 accounts as filed with the Charity Commission.
Reserves policy: unrestricted cash balances of £4,500,000 (held: £7.4m)
“The Governors consider, as in previous years, that endeavouring to hold unrestricted cash balances of £4,500,000 during the building programme is an appropriate minimum cash reserves policy.” — page 15
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Loan from Mercers' Company
“The school received a loan of £4,342,304 (2024: £635,887) from the Mercers’ Company to fund the building redevelopment. The school paid loan interest of £145,913 to The Mercer's Company. An additional £115,000 remains outstanding at year end. The Mercer's Company made a £146,000 grant towards the charitable purpose of the school, and there is an additional £115,000 accrued at year end.” — page 42
“St Paul’s Schools Foundation made a £60,000 (2024: £60,000) grant towards bursaries and a £33,333 grant for a partnership coordinator (2024: £nil).” — page 42
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Grant from St Paul’s Schools Foundation
“The school received a loan of £4,342,304 (2024: £635,887) from the Mercers’ Company to fund the building redevelopment. The school paid loan interest of £145,913 to The Mercer's Company. An additional £115,000 remains outstanding at year end. The Mercer's Company made a £146,000 grant towards the charitable purpose of the school, and there is an additional £115,000 accrued at year end.” — page 42
“St Paul’s Schools Foundation made a £60,000 (2024: £60,000) grant towards bursaries and a £33,333 grant for a partnership coordinator (2024: £nil).” — page 42
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Payments to SPGS International
“The school received a loan of £4,342,304 (2024: £635,887) from the Mercers’ Company to fund the building redevelopment. The school paid loan interest of £145,913 to The Mercer's Company. An additional £115,000 remains outstanding at year end. The Mercer's Company made a £146,000 grant towards the charitable purpose of the school, and there is an additional £115,000 accrued at year end.” — page 42
“St Paul’s Schools Foundation made a £60,000 (2024: £60,000) grant towards bursaries and a £33,333 grant for a partnership coordinator (2024: £nil).” — page 42
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Payment to retired High Mistress's company
“The school received a loan of £4,342,304 (2024: £635,887) from the Mercers’ Company to fund the building redevelopment. The school paid loan interest of £145,913 to The Mercer's Company. An additional £115,000 remains outstanding at year end. The Mercer's Company made a £146,000 grant towards the charitable purpose of the school, and there is an additional £115,000 accrued at year end.” — page 42
“St Paul’s Schools Foundation made a £60,000 (2024: £60,000) grant towards bursaries and a £33,333 grant for a partnership coordinator (2024: £nil).” — page 42
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Rent to St Paul’s Schools Foundation
“The school received a loan of £4,342,304 (2024: £635,887) from the Mercers’ Company to fund the building redevelopment. The school paid loan interest of £145,913 to The Mercer's Company. An additional £115,000 remains outstanding at year end. The Mercer's Company made a £146,000 grant towards the charitable purpose of the school, and there is an additional £115,000 accrued at year end.” — page 42
“St Paul’s Schools Foundation made a £60,000 (2024: £60,000) grant towards bursaries and a £33,333 grant for a partnership coordinator (2024: £nil).” — page 42
Per its FY2025 accounts as filed with the Charity Commission.
Trading subsidiary: SPGS International Limited
“The consolidated financial statements incorporate the financial statements of the Charity and its 100% owned subsidiary, SPGS International Limited (Company number 12094047)” — page 25
Per its FY2025 accounts as filed with the Charity Commission.
Leadership, per the charity’s website
- Liz Hewer — High Mistress
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/08/2025)
Total income
£30.5m
Total spending
£29.7m
Cost of raising funds
£1.6m
Reserves (reported)
£7.4m
Employees
284
Trustees
- Simon Walter Julian Wathenchair
- Alexander Clayton
- Diana Charlotte Vernon
- GILLIAN LOW MA
- Geeta Khehar
- Geoffrey Matthews
- Joy Claire Reymond
- Justine Archer
- Lisa Barclay
- Mairi Fiona Brewis
- Zeina Jalal Bain
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/08/2025 | £29.7m | £29.7m |
| 31/08/2024 | £29.2m | £28.3m |
| 31/08/2023 | £26.2m | £25.0m |
| 31/08/2022 | £23.2m | £22.4m |
| 31/08/2021 | £21.9m | £20.4m |
Common questions
Is ST PAUL'S GIRLS' SCHOOL financially healthy?
Per its FY2025 accounts: The accounts state that the school generated a net income of £863,000 for the year ended 31 August 2025, with total income of £30,542,000 against total expenditure of £29,679,000. Per the trustees' report, free reserves were £7,418,000, which exceeds the stated minimum cash reserves policy of £4,500,000, and the governors confirmed adequate resources to continue activities for the foreseeable future. Its FY2025 accounts were audited by Crowe U.K. LLP.
Who funds ST PAUL'S GIRLS' SCHOOL?
Funders whose own accounts filings name ST PAUL'S GIRLS' SCHOOL as a grant recipient include KUSUMA TRUST UK, THE MERCERS CHARITABLE FOUNDATION, ST PAUL'S SCHOOLS FOUNDATION, THE ANGLO-AMERICAN CHARITY LIMITED.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| KUSUMA TRUST UK | FY2025 | £1.0m | CDI Building and Exhibition Hall |
| KUSUMA TRUST UK | FY2024 | £1.0m | Centre for Design & Innovation Building and Exhibition Hall |
| THE MERCERS CHARITABLE FOUNDATION | FY2022 | £140k | Restricted Bloomfield Fund |
| ST PAUL'S SCHOOLS FOUNDATION | FY2023 | £125k | |
| KUSUMA TRUST UK | FY2023 | £100k | Funding towards the Bursary Programme |
| ST PAUL'S SCHOOLS FOUNDATION | FY2025 | £60k | Associated Schools Mental Health & Wellbeing |
| ST PAUL'S SCHOOLS FOUNDATION | FY2024 | £60k | Literacy & Oracy |
| ST PAUL'S SCHOOLS FOUNDATION | FY2025 | £33k | Aligned Funding |
| ST PAUL'S SCHOOLS FOUNDATION | FY2024 | £33k | Associated Schools Aligned Funding |
| ST PAUL'S SCHOOLS FOUNDATION | FY2022 | £25k | Bursaries (for disadvantaged pupils who would not otherwise attend St Paul’s Girls’ School and St Paul’s School). |
| THE ANGLO-AMERICAN CHARITY LIMITED | FY2022 | £20k | |
| ST PAUL'S SCHOOLS FOUNDATION | FY2025 | £15k | Other |
| THE ANGLO-AMERICAN CHARITY LIMITED | FY2023 | £0 |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The Mercers' Company | 30/04/2026 | £430k | Grant to St Paul's Girls' School |
| The Mercers' Company | 01/05/2025 | £146k | Grant to St Paul's Girls' School |
| The Mercers' Company | 15/02/2024 | £180k | Grant to St Paul's Girls' School |
| The Mercers' Company | 18/05/2023 | £100k | Grant to St Paul's Girls' School |
| The Mercers' Company | 27/04/2021 | £140k | Grant to St Paul's Girls' School for the West London Partnership |
| The Mercers' Company | 03/03/2021 | £150k | Grant to St Paul's Girls' School |
| The Mercers' Company | 28/04/2020 | £75k | Grant to St Paul's Girls' School |
| The Mercers' Company | 03/04/2020 | £10k | Covid-19 Rapid Response Fund Grant |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| GOLDMAN SACHS GIVES (UK) | 1 | £2.6m |
| THE ST PAUL'S CATHEDRAL CHORISTER TRUST | 1 | £108k |
| THE MARANDI FOUNDATION | 1 | £100k |
| THE GROCERS' CHARITY | 1 | £41k |
| The Goldsmiths' Foundation | 1 | £40k |
| The Merchant Taylors' Foundation | 1 | £36k |
| SIR ROBERT GEFFERY'S ALMSHOUSE TRUST | 1 | £24k |
| THE HINDUJA FOUNDATION | 1 | £8k |
Charities like this
- ST PAUL'S SCHOOL
- ST PAUL'S SCHOOLS FOUNDATION
- THE PAULINE MEETINGS
- THE ST PETER AND ST PAUL SCHOOL TRUST
- THE SAINT JOHN'S SCHOOL FOUNDATION
- ST PAUL'S CATHEDRAL CHOIR SCHOOL
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| ST PAUL'S GIRLS' SCHOOL | £29.7m | — | — | unclear | — | no doubt |
| ST PAUL'S SCHOOL | £48.2m | — | — | unclear | — | no doubt |
| ST PAUL'S SCHOOLS FOUNDATION | £1.1m | — | 0 | unclear | — | no doubt |
| THE PAULINE MEETINGS | £109k | — | 0 | unclear | — | no doubt |
| THE ST PETER AND ST PAUL SCHOOL TRUST | £1.5m | £70,001 - £80,000 | 1 | unclear | — | no doubt |
| THE SAINT JOHN'S SCHOOL FOUNDATION | £24.9m | — | — | unclear | — | no doubt |