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2025-07-31-accounts

Charity registration number 1007348 (England and Wales)

Company registration number 02666998

DERBY HIGH SCHOOL TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

DERBY HIGH SCHOOL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Governors Ms H A Barton BSC CEng FRAeS
FIMA
Ms F M K Apthorpe
Mrs A K Penny
Dr A R Rao
Miss S Chittim
Miss R E Stojak
Mrs N L Read
Mrs L Overton (Appointed 20 March 2025)
Ms E K Taylor (Appointed 20 March 2025)
Mrs S A Wheeldon (Appointed 20 March 2025)
Head Mrs A Chapman MA BA (Hons)
Charity number (England and Wales) 1007348
Company number 02666998
Registered office and Hillsway
business address Littleover
Derby
DE23 3DT
Auditor Dains Audit Limited
Cubo
Standard Court
Park Row
Nottingham
NG1 6GN
Bankers Barclays Bank Plc
Level 4
1 Chapel Quarter
Nottingham
NG1 6HQ
Solicitors Flint Bishop LLP
Pinnacle Building
2 Prospect Place
Pride Park
Derby
DE24 8HG

DERBY HIGH SCHOOL TRUST

CONTENTS

Page
Governors' report 1 - 7
Statement of governors' responsibilities 8
Independent auditor's report 9 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 30

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

The governors present their annual report and financial statements for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

Policies and objectives

Derby High School is committed to nurturing the holistic development of our students, equipping them with the skills, qualities, and values needed to thrive in an ever-changing world. Our mission is to cultivate critical thinkers, creative problem solvers, and effective communicators who embrace diversity, demonstrate resilience, and lead with integrity. Through a dynamic educational experience grounded in academic excellence, digital literacy, and ethical leadership, we empower students to become responsible citizens, lifelong learners, and compassionate contributors to a global society. At Derby High School, we inspire each student to discover their unique potential, pursue their passions, and make a positive impact on the world.

Strategies for achieving aims and objectives

The School's facilities offer children education and instruction in various subjects over a broad spectrum of the curriculum, including academic, classical, scientific, technical and commercial studies.

Activities for achieving objectives

To achieve this, the School offers co-education for children from ages 3 to 18.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the governors to present a strategic report.

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Achievements and performance

Significant activities and achievements against objectives

Review of activities

The results for the year and the financial position of the School are set out in the annexed financial statements. The 2024/25 academic year has been one of continued growth, development and strategic consolidation for Derby High School. Pupil numbers increased to 696 (2024: 685), reflecting sustained demand for places and the strength of the School’s reputation for combining academic excellence with a genuinely individualised and supportive educational experience.

This year marks the first full year of use of the School’s significantly enhanced facilities, following completion of the major capital development programme in April 2024. The new refectory, kitchen and sports facilities have quickly become central to daily school life, enhancing both the quality of provision and the sense of community across the School. The reconfiguration of existing space, including a new science laboratory, drama studio and additional teaching areas, has further strengthened the School’s ability to offer a rich, modern and forward-looking curriculum.

The School has also responded proactively to the introduction of VAT on independent school fees during the year. Careful financial planning and a considered approach to fee setting have enabled the School to navigate this change while maintaining accessibility and continuing to invest in educational provision.

Academic Performance

Academic outcomes in Summer 2025 were again strong, reflecting not only high levels of attainment but also the School’s focus on supporting each pupil to achieve their personal best.

At Advanced Level:

100% of grades in Fine Art, Product Design, French, Further Mathematics and Spanish, were A–A, alongside English Language and Literature, Geography, German and Religious Studies where 100% of grades were A–B, demonstrating strength across a wide range of disciplines.

Students also performed strongly in the Extended Project Qualification (EPQ), with 100% achieving A*–B, reflecting the School’s emphasis on intellectual curiosity, independent learning and academic scholarship.

These results enabled pupils to progress to a broad range of highly competitive university destinations.

Students moved on to institutions including Oxford, Durham, Warwick, Nottingham, Exeter and Bristol studying a wide range of disciplines. Whilst medical pathways remain popular, students also went on to study business management, law, international relations, languages and engineering.

GCSE outcomes were similarly strong:

These results reflect both academic rigour and the School’s commitment to ensuring that pupils are well supported, confident and ambitious in their learning.

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Co-curricular and Enrichment

A defining feature of Derby High School is the breadth of opportunity available beyond the classroom. The cocurricular programme continues to play a central role in delivering the School’s educational aims, with high levels of participation across all age groups.

Music, Drama, Art and Sport remain particular strengths, providing pupils with opportunities to develop confidence, creativity and collaboration. The Duke of Edinburgh’s Award scheme continues to flourish, with strong participation at Bronze, Silver and Gold levels.

Performance remains a vital part of School life, with pupils regularly given opportunities to perform to a wide range of audiences.

Senior School productions included:

Primary School productions included:

Music continues to be a vibrant and inclusive part of the School community. Highlights included:

The commitment of staff to supporting this breadth of activity remains a significant strength of the School.

Educational visits and residential experiences continue to enrich the curriculum and support pupils’ personal development. During the year, pupils participated in international visits to France and Switzerland and a wide range on trips within the UK.

Community and Charitable Engagement

The School continues to place strong emphasis on developing socially responsible and outward-looking young people. Pupils actively supported a number of charitable initiatives during the year, including Children in Need and the Padley Centre.

Through fundraising and service, pupils are encouraged to understand their role within the wider community and to act with empathy and purpose.

Looking Ahead

The School remains well positioned for the future, with strong enrolment, a clear educational vision and a continued commitment to investment in both people and facilities. In a changing educational and regulatory landscape, Derby High School will continue to balance ambition with careful stewardship, ensuring that it remains both distinctive in its provision and sustainable in its growth.

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Public benefit policy

The Governors consider that they have complied with the public benefit guidance by continuing to operate the School's own 'Assisted Places Scheme' to ensure that gifted children will not be barred from attending the School due to parental financial hardship.

The object for which the School is established is to advance education and training, by the provision and conduct of co-education for pupils aged 3-18. The principal object is met by the provision of an educational environment that will develop to the full the talents of all pupils. In setting objectives and planning activities, the Governors have given due regard to the Charity Commission’s general guidance on public benefit on advancing education and on fee charging. Fees are set by reference to a detailed budgeting process undertaken each year, based on the need to ensure the provision of a first class education environment for the pupils and the continued financial viability of the School in both the short and long term. In discussions surrounding the setting of fees, any Governor who has family members attending the School must declare that interest and not participate in the final decision regarding the level of fees charged.

The School continues to make various awards of Scholarships, Bursaries and Remissions. These awards are granted on the basis of educational ability or on the basis of financial assessment under the parental financial hardship scheme or under the current remission scheme. The awards during the period were £662,776 (2024 - £755,756).

School facilities are available for local voluntary organisations and local residents. The Sports Hall is used for junior football leagues, local community leagues, local sports clubs and local community groups. The School acts as a public access centre for music examinations. Pupils work in local primary schools and charitable organisations through the Duke of Edinburgh Award Scheme and Work Experience placements.

Financial review

Going concern

After making appropriate enquiries, the Governors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

The total unrestricted funds amount to £10,557,918 (2024 - £9,777,467). A total of £13,583,543 (2024 - £13,738,864) has been deployed as part of the School premises and equipment. Funds designated for future projects are as detailed in the notes to the financial statements. These projects will be undertaken when the opportunity arises, thus with no fixed timescale in mind, but for which for the time being the Governors consider it prudent to retain sufficient finance to meet day to day working capital needs in the absence of free reserves.

The School considers that the appropriate level of free reserves which are not invested in fixed assets should ideally be equivalent to one term's expected expenditure, approximately £2,000,000. The School has a reserves deficit 31 July 2025 amounting to £3,366,926 (2024 - £4,302,725) and there remains much work to do in addressing this issue.

The School's policy is, therefore, to continue to build up reserves by means of annual operating surpluses, including the judicious management of investment assets. Consideration is also given to future capital projects that are required to ensure the School's facilities are maintained to a high standard

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Assisted Places Fund

The income from this fund is used to support scholarships granted to parents suffering financial hardship.

The Foundation Fund

This fund represents the net assets of the 1921 Trust on its commencement, to provide and promote the advancement of education, which were gifted to the School on 1 September 1992.

The main assets gifted were the School's premises, which have since been extended and improved.

The School, as set out in its Memorandum and Articles of Association, is unable to distribute any excess assets on its winding up or dissolution. All net assets must be used by or transferred to a similar body for the provision and advancement of education.

Investment policy

The Governors' investment policy is to maximise income and capital growth whilst at the same time spreading the risk.

Funds are deposited in short term low risk investments to give readily available access to funds as and when required.

The performance of the investments is disclosed in note 11 of the financial statements.

The Governors have a risk management process to assess business risk and implement risk management strategies. This involves identifying the types of risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. As part of this process the Governors have reviewed the adequacy of the Charity’s current internal controls. The Governors are pleased to report that the Charity’s current internal controls conform with guidelines issued by the Charity Commission.

A formal review of the Charity's risk management processes is undertaken on an annual basis.

The Governors have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial or otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. 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 and to provide reasonable assurance that:

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

• Regular consideration by the Governors of financial results, variances from budgets, non financial performance indicators and benchmarking reviews; • Delegation of authority and segregation of duties; • Identification and management of risk.

Plans for future periods Future developments

Our commitment to investing in our facilities will continue to see refurbishment of our campus facilities which provide an excellent environment for all.

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Structure, governance and management

The Charity is incorporated under the Companies Act 2006 as a company limited by guarantee and is governed by its Articles of Association. The members of the Company are the Governors named on page 1.

The Charity was established in 1991 to take over the previous School trust and is registered with the Charity Commission under charity number 1007348. The School was originally founded in 1892.

The principal objective of the Charity is the promotion and advancement of co-education.

There have been no changes in the objectives since the last annual report.

The governors, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr M R Hall DL Hon D. Univ FCA FCMA CGMA FCT (Resigned 26 June 2025)

Ms H A Barton BSC CEng FRAeS FIMA Ms F M K Apthorpe Mrs A K Penny Dr B Lad CEng FIMechE (Resigned 10 November 2025) Dr A R Rao Miss S Chittim Miss R E Stojak Mrs N L Read Mrs L Overton (Appointed 20 March 2025) Ms E K Taylor (Appointed 20 March 2025) Mrs S A Wheeldon (Appointed 20 March 2025)

Recruitment and appointment of trustees

The management of the Charity is the responsibility of the Governors who are elected and co-opted under the terms of the Articles of Association. The School's Articles of Association can be found duly filed on the Charity Commission website.

Foundation Governors are not required to retire by rotation. Following retirement, the remaining Foundation Governors, at their discretion, appoint further Foundation Governors.

Co-opted Governors are appointed at the Board of Governors' discretion for a term not exceeding five years, but are eligible for re-appointment for such further term or terms as the Board of Governors shall in its discretion decide.

The Head leads the School through the next period of its development, building on our 135 year history and promoting the ethos and profile of the School. She leads with passion, vision and energy, and continues to develop the quality of the academic, pastoral and co- curricular provision to enable all our pupils to thrive.

Qualifying third party indemnity provisions

The members of the Charity guarantee to contribute an amount not exceeding £1 each to the assets of the Charity in the event of winding up.

DERBY HIGH SCHOOL TRUST

GOVERNORS' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Organisational structure

The full Board of Governors meet at least once each term to ensure the effective governance of the School. All subcommittees report to the full Board.

The overall educational needs of the School are administered by the Head on a day to day basis.

The Director of Finance carries out the financial management of the School on a day to day basis and along with the Director of Operations manages all noneducational matters, and the strategy is overseen by the Finance and General Purposes Committee.

Induction and training of trustees

New Governors undergo a comprehensive induction and training process once appointed to the board. All Governors receive a manual produced by AGBIS entitled "Manual of Good Practice for Governors of Independent Schools" and are provided with ongoing training each year.

Auditor

In accordance with the company's articles, a resolution proposing that Dains Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the governors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The governors' report, including the strategic report, was approved by the Board of Governors.

.............................. Mrs A K Penny Chair of Governors

Date: .............................................

DERBY HIGH SCHOOL TRUST

STATEMENT OF GOVERNORS' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2025

The governors, who are also the directors of Derby High School Trust for the purpose of company law, are responsible for preparing the Governors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the governors to prepare financial statements for each financial year which 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 year.

In preparing these financial statements, the governors are required to:

The governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DERBY HIGH SCHOOL TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DERBY HIGH SCHOOL TRUST

Opinion

We have audited the financial statements of Derby High School Trust (the ‘charitable company’) for the year ended 31 July 2025 which comprise the 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 governors' 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 governors 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 governors are responsible for the other information contained within the annual report. 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 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 our audit:

DERBY HIGH SCHOOL TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DERBY HIGH SCHOOL TRUST

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 strategic report or the directors' report included within the governors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of governors

As explained more fully in the statement of governors' responsibilities, the governors, who are also the directors of the charitable company for the purpose 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 governors 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 governors 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 governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the charitable company and the sector in which it operates, we identified the principle risks of non-compliance with laws and regulations, and considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principle risks were related to posting inappropriate journal entries.

Audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures prescribed above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

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

DERBY HIGH SCHOOL TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DERBY HIGH SCHOOL TRUST

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.

Luke Turner FCA FCCA (Senior Statutory Auditor)

For and on behalf of Dains Audit Limited, Statutory Auditor Chartered Accountants Cubo Standard Court Park Row Nottingham NG1 6GN Date: .........................

DERBY HIGH SCHOOL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Endowment
funds
funds
The
Foundation
Fund
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
-
-
Charitable activities
4
10,033,741
-
Investments
5
24,161
-
Other income
6
121,504
-
Total income
10,179,406
-
Expenditure on:
Raising funds
7
42,213
-
Charitable activities
8
9,174,674
22,608
Other expenditure
13
182,041
-
Total expenditure
9,398,928
22,608
Net gains/(losses) on
investments
14
(27)
-
Net income/(expenditure) and
movement in funds
780,451
(22,608)
Reconciliation of funds:
Fund balances at 1 August
2024
9,777,467
606,944
Fund balances at 31 July
2025
10,557,918
584,336		 Total
Unrestricted Endowment
funds
funds
The
Foundation
Fund
2025
2024
2024
£
£
£
-
428,871
-
10,033,741
9,297,530
-
24,161
31,510
-
121,504
152,468
-
10,179,406
9,910,379
-
42,213
41,348
-
9,197,282
8,603,632
22,608
182,041
83,933
-
9,421,536
8,728,913
22,608
(27)
18,383
-
757,843
1,199,849
(22,608)
10,384,411
8,577,618
629,552
11,142,254
9,777,467
606,944		 Total
2024
£
428,871
9,297,530
31,510
152,468
9,910,379
41,348
8,626,240
83,933
8,751,521
18,383
1,177,241
9,207,170
10,384,411

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

DERBY HIGH SCHOOL TRUST

BALANCE SHEET

AS AT 31 JULY 2025

Notes
Fixed assets
Tangible assets
16
Investments
17
Current assets
Debtors
19
Investments
20
Cash at bank and in hand
Creditors: amounts falling due within
one year
22
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
23
Net assets
The funds of the charitable company
Endowment funds - The Foundation Fund
25
Unrestricted funds
26		 2025
£
£
14,167,879
117,354
14,285,233
3,195,654
516,379
892,289
4,604,322
(5,132,624)
(528,302)
13,756,931
(2,614,677)
11,142,254
584,336
10,557,918
11,142,254		 2024
£
£
14,345,808
117,381
14,463,189
151,426
250,108
710,911
1,112,445
(2,539,638)
(1,427,193)
13,035,996
(2,651,585)
10,384,411
606,944
9,777,467
10,384,411

The financial statements were approved by the governors on .........................

.............................. Mrs A K Penny Chair of Governors

Company registration number 02666998 (England and Wales)

DERBY HIGH SCHOOL TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 31 623,530 2,423,174
Investing activities
Purchase of tangible fixed assets (156,405) (7,635,743)
Proceeds from disposal of investments - 681,154
Investment income received 24,161 31,510
Net cash used in investing activities (132,244) (6,923,079)
Financing activities
Proceeds from new bank loans 2,515,000 2,500,000
Repayment of bank loans (2,558,637) -
Net cash (used in)/generated from financing
activities (43,637) 2,500,000
Net increase/(decrease) in cash and cash
equivalents 447,649 (1,999,905)
Cash and cash equivalents at beginning of year 961,019 2,960,924
Cash and cash equivalents at end of year 1,408,668 961,019
Relating to:
Cash at bank and in hand 892,289 710,911
Short term deposits included in current asset
investments 516,379 250,108

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

Charity information

Derby High School Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Hillsway, Littleover, Derby, DE23 3DT.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charitable company is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the governors have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the governors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the governors in furtherance of their charitable objectives.

Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

Fees receivable are accounted for in the period in which the service is provided. Fees are stated before deducting bursaries, scholarships and remissions granted by the School.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

All educational supplies are written off in the year of purchase.

1.6 Tangible fixed assets

All capital items are written off in the year of purchase, except for items costing over £25,000, which are depreciated over their estimated useful life.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% on cost

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 recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.8 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 operations 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

The School is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the School is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

The School is a member of a multi-employer plan. Where it is not possible for the School to obtain sufficient information to enable it to account for the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan. The scheme is managed by the Department of Education.

The School operates a money purchase scheme for non-teaching staff.

Contributions to both schemes are charged in the Statement of Financial Activities (incorporating income and expenditure account) as they become payable in accordance with the rules of the scheme.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the governors 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.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts - 428,871

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable Activities
School fees receivable 9,733,962 8,985,709
Early years funding 125,277 96,671
Ancillary trading income 149,486 189,848
Activities for generating funds 25,016 25,302
10,033,741 9,297,530
5 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 24,161 31,510
6 Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Sundry income 14,283 14,832
Income from school activities 107,221 137,636
121,504 152,468
7 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Advertising 42,213 41,348

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

8 Expenditure on charitable activities

Educational
Welfare
2025
2025
£
£
Direct costs
Staff costs
5,310,195
2,904
Depreciation and
impairment
-
-
Other costs
875,111
723,977
6,185,306
726,881
Share of support and governance costs (see note 9)
Governance
-
-
6,185,306
726,881
Analysis by fund
Unrestricted funds
6,185,306
726,881
Endowment funds - The
Foundation Fund
-
-
6,185,306
726,881
Previous year:
Educational
Welfare
2024
2024
£
£
Direct costs
Staff costs
4,814,187
17,983
Depreciation and
impairment
-
-
Other costs
1,076,733
704,781
5,890,920
722,764
Share of support and governance costs (see note 9)
Governance
-
-
5,890,920
722,764
Analysis by fund
Unrestricted funds
5,890,920
722,764
Endowment funds - The
Foundation Fund
-
-
5,890,920
722,764		 Premises
2025
£
374,221
334,334
604,140
1,312,695
-
1,312,695
1,290,087
22,608
1,312,695
Premises
2024
£
316,235
204,243
756,419
1,276,897
-
1,276,897
1,254,289
22,608
1,276,897		 Support Governance
2025
2025
£
£
567,367
-
-
-
390,913
-
958,280
-
-
14,120
958,280
14,120
958,280
14,120
-
-
958,280
14,120
Support Governance
2024
2024
£
£
481,951
-
-
-
239,822
-
721,773
-
-
13,886
721,773
13,886
721,773
13,886
-
-
721,773
13,886		 Total
2025
£
6,254,687
334,334
2,594,141
9,183,162
14,120
9,197,282
9,174,674
22,608
9,197,282
Total
2024
£
5,630,356
204,243
2,777,755
8,612,354
13,886
8,626,240
8,603,632
22,608
8,626,240

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

9 Support costs allocated to activities

Educational
2025
£
Governance
14,120
2025
Governance costs comprise:
£
Audit fees
12,250
Accountancy
1,870
14,120
10
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
12,250
Depreciation of owned tangible fixed assets
334,334		 Total
2024
£
13,886
2024
£
10,500
3,386
13,886
2024
£
10,500
204,243

11 Governors

None of the governors (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

No Governor expenses were incurred during the current or pervious year.

12 Employees

The average monthly number of employees during the year was:

Management and administration
Teaching
Domestic and catering
Total		 2025
Number
13
91
22
126		 2024
Number
13
89
21
123

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

12
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2025
2024
£
£
4,747,833
4,389,380
496,687
413,299
1,010,167
827,677
6,254,687
5,630,356		 (Continued)
2025
2024
£
£
4,747,833
4,389,380
496,687
413,299
1,010,167
827,677
6,254,687
5,630,356
5,630,356

The number of employees whose annual remuneration was more than £60,000 is as follows:

is as follows:
2025 2024
Number Number
£60,001 - £80,000 3 3
£80,001 - £100,000 1 1
£100,001 - £120,000 1 1
£120,001 - £140,000 1 -

Remuneration of key management personnel

Key management personnel are considered to be the Head Teacher, Deputy Head Teachers, Head of Primary and Bursar who received total remuneration (excluding employer pension contributions) of £510,205 (2024 - £405,833),

13 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Loan arrangement fee 15,000 12,500
Financing costs 167,041 71,433
182,041 83,933

Prior year costs were previously included within support - other costs, but have now been restated as other expenses to be comparative with current year disclosures. This restatement affects other expenses and support - other costs values only. Net income, fund movements and fund balances are unaffected by this restatement and remain as previously reported.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

14 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments (27) 18,383

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

16 Tangible fixed assets

Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 August 2024 16,737,317
Additions 156,405
At 31 July 2025 16,893,722
Depreciation and impairment
At 1 August 2024 2,391,509
Depreciation charged in the year 334,334
At 31 July 2025 2,725,843
Carrying amount
At 31 July 2025 14,167,879
At 31 July 2024 14,345,808

The carrying value of land not depreciated included in land and buildings comprises:

2025 2024
£ £
Freehold land 200,000 200,000

Barclays Bank plc holds a charge as security over all of the freehold property of the school.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

17 Fixed asset investments

Listed
investments
Unlisted
investments
£
£
Cost or valuation
At 1 August 2024
117,360
21
Valuation changes
(27)
-
At 31 July 2025
117,333
21
Carrying amount
At 31 July 2025
117,333
21
At 31 July 2024
117,360
21
18
Financial instruments
2025
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
516,379
19
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
2,983,067
Prepayments and accrued income
212,587
3,195,654
20
Current asset investments
2025
£
Unlisted investments
516,379		 Total
£
117,381
(27)
117,354
117,354
117,381
2024
£
250,108
2024
£
11,160
140,266
151,426
2024
£
250,108

Unlisted current asset investments comprise funds held in a 65 day access notice bank account.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

21 Loans and overdrafts

Bank loans
Payable within one year
Payable after one year		 2025
£
2,456,363
112,463
2,343,900		 2024
£
2,500,000
107,539
2,392,461

The bank loan is secured against the freehold property fixed assets to which it relates.

The bank loan was refinanced during the year. The term of the loan is now 3 years repayable by 35 monthly instalments, calculated on the basis of a 15 year repayment profile, plus a final instalment to be a lump sum sufficient to repay the loan in full. Interest is payable at 1.95% above base rate.

Based on performance in the current year ending 31 July 2026, the trustees recognise that the financial covenant relating to the bank loan may not be met in that period. However, the trustees are comfortable that they have put in place a plan to avoid any adverse consequences arising from any such breach, should such occur.

22 Creditors: amounts falling due within one year

Notes
Bank loans
21
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
112,463
726,443
469,336
175,850
3,648,532
5,132,624		 2024
£
107,539
97,438
139,069
162,112
2,033,480
2,539,638

Deferred income for the year includes £3,500,962 fees in advance (2024: £1,866,287) and trip income included in accruals totalling £58,749 (2024: £nil).

Other creditors include final term fee deposits of £49,037 (2024 : £40,400).

23 Creditors: amounts falling due after more than one year

Notes
Bank loans
21
Other creditors		 2025
£
2,343,900
270,777
2,614,677		 2024
£
2,392,461
259,124
2,651,585

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

23 Creditors: amounts falling due after more than one year

(Continued)

Other creditors include final term fee deposits of £270,777 (2024 : £259,124).

Repayment of final term fee deposits is due on the child leaving the school, net of any charges outstanding. No interest is due on these balances.

24 Retirement Benefit Schemes

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers' Pensions Regulations (2010) and, from 1 April 2014, by the TPS Regulations 2014. Membership is automatic for full-time teachers and, from 1 January 2007, automatic for teachers in part-time employment following appointment or a change of contract, although they are able to opt out.

The TPS is an unfunded scheme and members contribute on a 'pay as you go' basis - these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The pension charge for the year includes contributions payable to the TPS of £950,140 (2024: £785,066). At the year-end £107,234 (2024: £99,347) was accrued in respect of contributions to this scheme.

The School also runs a scheme for its non-teaching staff, which is a money purchase scheme. The cost for the year represents the School's contributions to that scheme of £60,027 (2024: £27,715).

Valuation of the Teachers' Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020 and in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation and subsequent consultation are:

The TPS valuation for 2020 determined an employer rate of 28.68%, which was payable from 1 April 2024.

A copy of the valuation report and supporting documentation is on the Teachers' Pensions website.

Under definitions set out in FRS 102, the TPS is a multi-employer pension scheme. The trust has accounted for its contributions to the scheme as if it were a defined contributions scheme. The trust has set out above the information available on the scheme.

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

25 Endowment funds - The Foundation Fund

These are endowment funds which are material to the charitable company's activities.

At 1 August
2024
£
The Foundation Fund
606,944
Previous year:
At 1 August
2023
£
The Foundation Fund
629,552		 Resources
expended
£
(22,608)
Resources
expended
£
(22,608)		 At 31 July
2025
£
584,336
At 31 July
2024
£
606,944

This fund represents the net assets of the 1921 Trust on its commencement, to provide and promote the advancement of education, which were gifted to the School on 1 September 1992.

The main assets gifted were the School's premises, which have since been extended and improved.

The School, as set out in its Memorandum and Articles of Association, is unable to distribute any excess assets on its winding up or dissolution. All net assets must be used by or transferred to a similar body for the provision and advancement of education.

26 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August
2024
£
Assisted places
fund
223,947
Fixed assets
fund
13,738,864
General funds
(4,185,344)
9,777,467		 Incoming
resources
£
-
-
10,179,406
10,179,406		 Resources
expended
£
(174,405)
(156,405)
(9,068,118)
(9,398,928)		 Transfers
£
174,405
1,084
(175,489)
-		 Gains and
losses
£
-
-
(27)
(27)		 At 31 July
2025
£
223,947
13,583,543
(3,249,572)
10,557,918

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

26
Unrestricted funds
Previous year:
At 1 August
2023
£
Major property
fund
56,604
Assisted places
fund
223,947
Fixed assets
fund
6,161,514
General funds
2,135,553
8,577,618		 Incoming
resources
£
-
-
-
9,910,379
9,910,379		 Resources
expended
£
-
(181,025)
(181,635)
(8,366,253)
(8,728,913)		 Transfers
£
(56,604)
181,025
7,758,985
(7,883,406)
-		 (Continued)
Gains and
losses
At 31 July
2024
£
£
-
-
-
223,947
-
13,738,864
18,383
(4,185,344)
18,383
9,777,467

Assisted Places Fund

This fund is used to support scholarships granted to parents suffering financial hardship

Fixed Assets Fund

This fund recognises that certain assets will be used operationally and their disposal may adversely impact on a charity's ability to deliver its aims. The carrying value of the fixed assets is therefore set aside as designated funds in the balance sheet and is excluded from the free reserve calculation.

Major Property Fund

A provision for anticipated major property repair expenditure in future years is maintained. Any movement on this provision will be adjusted for through unrestricted general funds.

27 Analysis of net assets between funds

Unrestricted
Endowment
funds
funds
The
Foundation
Fund
2025
2025
£
£
At 31 July 2025:
Tangible assets
13,583,543
584,336
Investments
117,354
-
Current assets/(liabilities)
(528,302)
-
Long term liabilities
(2,614,677)
-
10,557,918
584,336		 Total
2025
£
14,167,879
117,354
(528,302)
(2,614,677)
11,142,254

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

27 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Endowment Total
funds funds
The
Foundation
Fund
2024 2024 2024
£ £ £
At 31 July 2024:
Tangible assets 13,738,864 606,944 14,345,808
Investments 117,381 - 117,381
Current assets/(liabilities) (1,427,193) - (1,427,193)
Long term liabilities (2,651,585) - (2,651,585)
9,777,467 606,944 10,384,411

28 Operating lease commitments

Lessee

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
29
Capital commitments
Amounts contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment		 2025
£
7,960
27,195
35,155
2025
£
2025
£
5,085		 2024
£
5,958
117
6,075
2024
£
2024
£
158,930

30 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

DERBY HIGH SCHOOL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

31 Cash generated from operations 2025 2024
£ £
Surplus for the year 757,843 1,177,241
Adjustments for:
Investment income recognised in statement of financial activities (24,161) (31,510)
Fair value gains and losses on investments 27 (18,383)
Depreciation and impairment of tangible fixed assets 334,334 204,243
Movements in working capital:
(Increase) in debtors (3,044,228) (29,410)
Increase in creditors 2,599,715 1,120,993
Cash generated from operations 623,530 2,423,174
32 Analysis of changes in net (debt)/funds
At 1 August 2024 Cash flows At 31 July 2025
£ £ £
Cash at bank and in hand 710,911 181,378 892,289
Cash equivalents 250,108 266,271 516,379
961,019 447,649 1,408,668
Loans falling due within one year (107,539) (4,924) (112,463)
Loans falling due after more than one year (2,392,461) 48,561 (2,343,900)
(1,538,981) 491,286 (1,047,695)