THE government has had to step in to take “precautionary measures” to ensure Beaulieu Convent School would be in a position to continue operating “should the school face financial disruption”, after it emerged that the school suffered an operating loss in both 2022 and 2023.
The school’s latest financial statements for the year ending August 2022 were finally made public this week, following queries from the JEP’s sister publication Bailiwick Express dating back to the beginning of last year.
The statements revealed that Beaulieu “has been experiencing negative cash flows in recent years following an increase in capital expenditure and suffered operating losses in 2022 and 2023”.
And court documents seen by Express showed that the government entered into two contracts with the school in summer 2024.
A 15-year lease agreement regarding the entire Beaulieu Convent School complex went through Jersey’s Royal Court in September.
Saint Meen Properties – a company associated with Beaulieu by common beneficial ownership – leased the entire Beaulieu Convent School complex to the government for a nominal rent of £15 annually, which then sub-leased it back to Beaulieu for £1 per year.
Treasury Minister Elaine Millar said: “Both the Government of Jersey and Beaulieu continue to prioritise the school’s staff and students; the lease is simply a precautionary measure to ensure the good work of Beaulieu could continue without disruption, should the school face financial disruption.”
And an overarching agreement registered in Jersey’s Royal Court in July revealed that the government agreed to provide a guarantee to Beaulieu’s bank for the school’s overdraft facility – up to the sum of £2.5m.
More in today’s Bailiwick Express.
