Charlty registration numbey 1010345 (En￿*1}d And W*le5) C(bmp4ny regi$lTRtion llUD]ber 02576495 HITCIIIN BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSEI U ANNUAL RKPORT AND UNAUDvfED fJNANCIAL STATELIIENTS FOR THEI YEAR ENDED 31 IIIARCH 2025 HITCHIN BRrrisH SCHOOLS TRUST BRITISH SCHOOLS MUSII UM CONTEI NTS PAge Lffjl and administrative iiiforniatioii Tn￿te¢s, i'eport 2. 11 liidependenl ¢xamiiieVs report 12 Siltement of finfLncia] flctivilies 13- 14 B&l#iice sheet 15 Notes to th¢ f￿}￿)c]￿l stg¢teuJenls 16-27 HITCHIN BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSEI UM LEGALAND ADMJLNISTRATIVE INFORMATION Board Of Ti'ustees Lesley SdiiiideTs - Cknir M8 Lucy Ungei. MrDoLiglas Bla¢k fvIr Fi'ancis Hon Mr8 Einiiie Dogan Mr Ricbard Atteitoll Dr Zibiah IA)akth Mrs Wendy WalsoD Mr3Abigail lQkiichi Ms ￿9th￿ Gleen Mrs Nabeeta Atneell Resigned l April 2025 Resiyied 17 Septe])th¢r 2025 Appoiiited l July 2024 Patrons Lady CaLDline Bowes-Lyon MrAndr¢w Dimsey Ricardo Lopez-Portill y Lancasler Jones Rodrigo- Alonso Lop8z-Pirtillo y Latscaster- Jones FTanciscu-XaYiei' Lopez-Portillo y tancaster- Jones President Yvoniie Limbrick Vl¢e Presldents Miss E Hunter Mr8 C Ilcy Charlty numb¢r 1010345 Compiwy nllrnber 0257fv195 Registered offite 41142 QLieen SILeet I-litshi H¢rtfordshiie SG4 9TS ludepende]it ex4miner Mark 14jertzen BAFCA HW Associates Lijnited Portmill Hoiise, Portmill L£me HilGhin Hertfoi'dsliire SG5 IDJ ￿￿￿kerS CAP Bank Limit¢d PO Box 289 West M¢i11ing Keiit ME19 4TA HITCIIIN BRITISFI SCHOOLS TRUST BRITISH SCHOOLS IVIUSEUM TRUSTEt S, REPORT (INCLUDING DI￿1 CTORS, RLI PORTI FOR THE YL4R ENDED 31 MARC112025 The Boaftt Df Trustees present theii. rel)￿* ￿ld accounts for the yeu ended 31 Mllrch 2025, The a¢¢oLlllts tsave been prepared in accordance with the accountinb policies Set out in note I to the aCCOUJLt8 llld con]ply with it]e Tr'ugt's Meinorandiim oiid Articles of Associalioii, the Comp&nie8Act 2006 aiid"Accounting alld Reportiiig by Cl)Ivities.' Stateinent of RecoEniMended Pnctice Applicable lo charities prep￿.11]g theii. accoiinls in a¢ttOrdt￿ce with the Fura￿la1 Repoitsng Stalldhrd &pplicable lll the UK and Republic of Irelaiid (FRS 102) (effeciive l Jaiiuary 20I5)" The Legal andikdmillistr&live inforinalion set oitt on page I forn)8 inte￿.￿1 part ot this Report. Chalrs Repbrt On bthalf of tb¢ Trustees, l ain pleased to pi'eseTht the Annud R¢poi't of th¢ Hitchin Briti511 Sch(yols Trust foi. Ilie year endiiig 31 Mar¢h 2025. Th¢ prii)¢ipal object of th¢ TN$l is to pr¢s¢rvc and protswt¢ the bistoric Bi'ttisli Schools site lll Hitcbin for Ihc bcn¢fit of the piibli¢. advancing education and heritage 8wai'eness, and¢nsuringthc buildings. colleotioiis. aGtivitie8 setye boihpi'esent aiid fiitui'¢ 8Qtierations. Duriiig Ehe reportiiig period, tlie Tnist has- Welcojned 4,610 school PLipils guid tskichers, eAt￿ldIng oiir educAtithtt] outreACb. Hosted public events, exliibitiorAS, J)d community Ctivities. Carried ￿11 essential conservation and rnainteDance w￿.￿S on die l)i.%toric site, ensiring contlllued safe access. Continiied tliB eatsloguing and pre$￿VatiOn of collectioi)s and arGliives, The Trustees are pleased to note thai engagement with schools and tlie local community has continued to strengtlien, and the Trust remains a I'ecogiils￿l centre for leaiiiiiig aiid heritage. rh¢"friTsI reniains fiiiancially souiid, with ¢ar¢ful man&geinent ofresoLir¢es and conunued support froin grdiils, doii&tions. and trading activities, Th¢ yew ciidingmareh 2025 was &pulieiilw'ly blisy and r¢warding one forthe Muscum. We were d¢liglitcd lo lak¢ ￿rI in th¢ l-IcritaE¢ Open Weekend alld also Ltnderlook a nlltnber of essentid LepaiL5 t￿d ijnpLoYemellls, illcludillg the inslÈdlation of a new boiler the Headjllistress's House, a new oven alld flooLillg in the cafe, repai13 lo window fi'ames and treatment to the Monitorial wall. Oui Play Cafe was rwogiii8cd with Ilie Mum's ￿lide lo Hitcbin Award, aiid we were pleased lo introduce & weekly SFND playgroup, fLwther widening i)w coiDmiiiiily reach. Tbe progratnme OF eveiils included a children's ConC￿L in the Moiiitoi&al and a series ol. new exhibitiolls, among thein Abederiuins, and the Blizabeth Bowes-LyoD exhibition 8howcasing solne of her childhiK)d books. Se4sonAI 4Ctivilies si￿￿ Holiday Crefts, Hallowe¢n celebraliotss, Santa's Grotto, theatre 31iows and oiw Chrislillas Cr&ft Faiy broiiglit families Eiiid visitors together, while th¢ reopening of additional exhibition space added to th¢ Ye￿,$ a¢hi¢v¢m¢nts. W¢ ¥oll¢lud¢d the yeAr on liigli nots with a Fancy Dress Children's Ball, which proved to be a resoiinding SULcess. We ffAtelld oiir si#cei'e gratitiide to our iEsilient sta'Ef, whose optimisin and patience Iwve remaiL)ed stead&ist throiighout the y&ir. We al'e equally thankful to oiir ddicated voliii)teers, sponsoi's, doiioi's, granl giver4 aiid Frieiids, wlM)se generosity, commitsnent, aiid warni liospitality iiot loagt the countless cups of te&- IKve been iiivaluable to thc Mus￿11n'S continued success. (￿lte simplyi we could iiot do this without you. HITCHIN BRITISH SCI.IOOLS TRUST BRITISII SCHOOLS MUSEUM TRUSTEES, REtPORT (INCLUDING DlliECTORS' REPORT) (CONTINUED) FOR THE F£4AR ENI)ED 31 h£4RCH 2025 As we look forward to 2025126, the HiL¢hin Brilish Schools MiiseLin] rei])ait]s fo¢used on securing, grants and exterllal funding to siipport vital infrnstsiicwre improv¢inents. These efforts will etlsure tI)e MiiseLiin's resilience, safeguaid oiii. l)istoric biiildings, alloNv us lo expaiid oiir offer lo visitors. Oiw Coinmilinettl is to balaiice pieservalioll willi Éi)DovalLOD, ei15lllllig Ibe Museum contiiiiies - Meet the changiug needs of oiir ¢0￿MUnItY and remains th]allGiaUy s115tai]￿bLe for the fiiLure. txsley Saunde Chair IIBST Dthte-. 15 Decenjber 2025 HITCHIN BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSEUM TRUSTECI S, Rfi POIU (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ￿DED 31 MARCH 2025 The fLnanGial statEmenta havE bee4LprepaI.￿ in accordance witli the accountit)g policics 8CtOiLt in nolB I to thc fii)an¢ial 8tatement5 and comply with the Trust's goveill)i1￿ dociiment, tli¢ Compa1￿e$ Act 2006, FRS 102 "Th¢ Financial Reporti1￿ St&iid*rd applicable ill tlie UK aLid Republic o'Flreland' and tlie c1￿￿tIeS SORP "A6¢ouliti￿g aJ)d Reportirig by Ch&rilies.' Sl'alem¢nt of Reconiniended Pi'actice applicable to charities preparingF their a¢coiuits in a¢¢oi'dan¢e with iht finaiicial Rep)rtiiig Standard applicable in the UIC tLnd Republic of Ireland (FRS 102} ObjoLdve5 &nd activities The chai'ity's objecls Cobjecls,) are specificallyiesLrict¢d to the following: l. lo preserve and use a hisloricajly important groiip of biuldings in Hitchin. HertfDr&lill'e kllown as British Scliools. 2. to advance education of the piiblic in th¢ history of stthooliiig by.. A. preserving and enhancing the collections of ai'lefacts i'elating tothe l)istOry Df eleinentary ¢duc&tion sjnd soci21 history ot childrcii: B. presenting thesc buildiiigs and collrtlions as a museuin of ¢I￿ne1]tary education and cbildhood. C. deliveiing a liviiig experience of hist￿.1¢￿￿ schooldllys to All. Tlic Tnul Coiitinues to uphold the followiiig Vision ts￿1 Mission Stalenients.. Our Visithi is foL the British Schools Museuin,, To be thc b¢5t at connecting our t]eriiage and out. ¢ominunitie8. Our Mission is to- Prosci'v¢ Qui iinique biiildinbys and collections for ftittire generalions so that our commiinili8s continiie to discover and enjoy the l)i810ry of leari)ing. HITCHIN BRI'fisH SCHOOLS TRUST BRITISFI SCHOOLS MUSEUM TRUSTE¢ ESI REI PORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 ActlvJ¢les to dellyer the strY4tegy The Board inel moi)tlily to review our priorities and created a 5hort-tBrra pian to fiirih¢r r¢duc¢ oiii. expenditure and gen¢rale iii¢ome through snfe lundraising a￿d eveiits. To ensure the maintenance> rep&li', conserYatAon and restoratlDn Df the hlstorie buildings This has been a¢hieved by.. General ￿￿Ante￿9¢ llce performed Ihroiighout ihe yeE liistallaiioii ora new boiler in the Headinistt'esses House Repairs to the window fi'aines Tr¢atm¢nt ot. Ih¢ monitori￿ wall N¢w ovgn 3nd flooring in the G&fé Preservlng and developlng our colle¢tlons as an aiit]i¥nliL re%ource for the h15tory of learnlng: This li&s bocii achicvod by- ideiitifyittg ways to publicise the collecti￿18 ¥LiicI malce tliem accessible r¢opening an exhibition space piiblicisin8 Ilie collectioiis lo relevaiil 84udieiice5 coi)tiniially ass￿￿]i]g tlie coiidition of the collectiODS devclopiiig new exliibitions for tliL public Develnplng OVT dlgltal profll¢: Tliis has been achieved by.. Rogular posting oli Faceboolc and Insta8rnm Tncrcasing oui. Faccbook followers The play café has & regular g'oup of followers HITCFIIN BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSEI UM TRUSTEEI S, REPORT {INCLUDING DIREI CTORS, REPORD (coNfiNUED) FOR THE YEAR ENDED 31 MARCH2025 Achlevements *J]d peiformance Totsl Visltoi. Numbers The niiiseiiin's toli£l audiei)ce diii'in Publle S¢hool nlng Chlldi'en Days 1,684 ,451 1,796 1,042 1,267 tlic fit]an¢ial Adults Ivltl SelJoo15 'was8265 roup Isltors 2024125 Even¢s Room Hlre Out￿￿e￿ ear 020121 021122 022123 2023124 2024125 104 1,457 1,297 3,226 2,136 52 425 951 ,113 ,214 ,698 ,265 1,419 2,968 3,975 ,610 166 165 12 1,230 97 141 225 155 The tt'end illdicates that sch(4)I visits are increasing. The continued recov¢ry is clcaffly a refl¢cUon of th¢ work done by our teani. Thtr above figures do not illGliide tbe visitoi's 0011)ing Lo tlie Tea Rooni only. In &ddition to the above we had at least 10.131 £1dults and childL¢n li) tlie cafe. Givitsg us a total aLidience to the museiun 01". 18,396, D(pnatlons, Grantsg glfts &nd l¢gA£ies We acknowledge and give Ihnnl(s to ow generOl￿ donois and coipor&¢e sponsors. Restricted Grants obtained in 2024125.. Norfolk County Cowicil Collectioii Grant Care £967 Raymoiid James Exhibition rooin flool £1.133 Locality Grant VRLIOUS s￿￿][ items £211 RSB partnership Repairs lo Storage heaters £1,000 Total £3,311 UnrestrictL4] GTanLs Fi'i¢nds of Th¢ Hitchin British S¢hoo Total lllsuTance £8,603 Doiiations Dontttions £10941 Gift aid on doi)ationB £35 983 4c donation £20 000 Tolal £66,924 Tbis included gift aid relating to a larg¢ donAlion received at the end of the previous finai)cial year. The Friends of the Bi'itish Schools Miiseiim deserve a special nientinii for tlioir continuing siipport moL&I SLipporl tl)i'oiigh oiit thc year, w$ Ihank you, HITCHIN BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSEUM TRUSTEES, REI PORT ONCLUDING D]RE￿ORs, REPORT) {CONTINtrED) FOR THE YEAR EhTDED 31 MARCH2025 Learnliig Progr#mme Our leaTnillg progrn￿￿e ￿low5 childi'en lo brillg ths past to ￿fe d]roiigh i'olcvplay> histori¢ lessons, workshops handling genuine historic aiLeFELcts lind niore. The opportLlllLly lo explore #nd discover wh&t life and ediicatioii would have beell like in Georgi&n, Victorian WWII ei'a schools, briiigiThg tlie past lo life is now strclching beyond our immediate Ioc they will be abl¢ to continue the Tnist's cwi'ent activities whilst col￿1d¢rntIOll is siven to way8 in wbich additiOD81 thnds be iiised. Tbe i'eserv¢8 as of 31 Maich 2025, totalling £476,740 k￿e.. Restricted funds.. £58,400 Designated fwids £239,900 Geiietal resti'i¢t¢d funds £178,440 Rlsk manAgement The Board has in place ali overall risk management dociiment idcnlifyii)g potential problems of coiitiLIIILllg viability, SWOT analysi& ￿1$ well as health and safety matters, which is imdei. ronstattt review. In addition, the Board has approved policy 8uidAnL'e on the prodiiGtion of safdy risk assessments. Structure, gov¢nMJic¢ and rnallage￿ent The TTiisI is a company liiiiiled by guarantee, baving no sh￿e capital, attd 15 8 registeKed cliarity. Tlie Tnisl was iiioorporhted Oll 24th January 1991 and is governed by its Memorandum And Articles of Association, as ama)d¢d on 14tli Noven]ber 20I5. Embership is. at presei)L lirnited to 200 and th¢ liability of the members in Ilie went of the T￿￿t being WOLllld up 13 liinited lo a su]n llot exceeding £10 ucli. The Board of Trusteeg, who are also the directo1￿ tor ihe putyos¢ of coinpally law, aiid who served diiring tho yEtll aie set out in tlie Legal and Administrative Information on page l. The Boll rd of Toistet8 are elected by the members. Onc third of the Boaid mejnbers Lu'e required lo i'eiii'e &1 each AnmiEI1 G¢n¢ral Meeting (AGLVI), but e￿Ch persoll is elI￿1b[e for re-electioii at that time. The BoL1rd must compi'ise at Icast 4 men)bers nd not iiiore than 12 and it has the power to fill casithl va¢¥Ln¢i¢s, A TrLlStee &ppoiiited lo fill & casulll varnncy mLlSt retire at Il)e iiext AGM alld may beproposed for rc-elerlion by the members. Mr R Atterlon rs L Saiinders Ms Lunger Dr Z Loakthar Mrs W Watson Iwrs A Kikiiclii Mr D Bla¢k rb14on Mrs N Ameen alf of the Board ot Tjwte Mrs Lozlcy SaUnd￿- Chair TrLlStee DaLed: 15 Decembw. 2025 HITCHIN BRrrisH SCHOOLS TRUST BRrrisH SCHOOLS MUSEUM TRUSTLI ES, IIEPOIU ONCLiSDING DIREcfoRS' REPORT) (CONTINUED} FOR THE YEAR ENDED 31 h£4RCH 2025 PiAn8 for fiitui'e p¢rlod5 Looking for new I'eveiiLie slreanis Fuiid rLising opportLinities Explore new Wclys to iise the Collections Explore new woys to use tl)e Biiildiiigs, as at) acliiev¢ resear¢h centre OftBr the space as a coinmercial space U1)d￿￿k¢ a stiidy on liow ID rebrand alié promote tl)e llLiseiim Obtain gnntS to ensure the buildings ren]ain in good repaii.. Fillance Ttain all Staff in u8¢ of financial systenis and PLY¢￿Se5 Iklaintaiii scrutiny on fiiiancial operations Giii) fillcincial suslaiiiabilily by levellillg ru￿)1￿8 costs and guaranteed inLoine. People Pi'ioi'itise volunteer recrnitm¢llt for ¢v¢iit org8llisllig, 80¢ial media, ¢olle¢tions and volunteer inanageftieLIt Ensuie Ui&t there is &ppropriale Cover av9ilabl¢ lo operate the play clfe to ils full potential. Building5 ObtaiTL quotss for buildinE repair8 Upgrading tlie cloaki'ooin toilels water siwply Digital IncreGlse s(Kial n)edia channels and pi'ofile lieview onlirne bookiJ)g Look al cloiid-based wveL7 Collerti4)n m&Dagell￿nt SYst￿n lo be reviewed Commerelal Tradlng Rc-imagiDc Ibo Jnuscum shop Review Ilie mu8¢uiii bi'jnd Develop tlie Play Café experience D¢v¢lop tl)e SBND offering Develop partnerships with businesses to encourage use of the space 10 HITCHIN BRITISH SCHOOLS TRUST BRITISI.I SCHOOtS MUSEUM TRUSYECI S, REPORT UNCLUDJNC DIRCI ￿ORs, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 Learnliig & educatlon Incrcase Lhe number of schools visili]Jg and teachei. engagwn¢tst Investig&l¢ viability of iiifoi'inal learning througli cliildreii'8 parties and day-tiine &ctiviti&s Fwther dev¢lop the site as a community asset with free entLy eveiits and SUPPOLting losal bLisiii&sses and chai'ities. 11 H￿CHIDI BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSCI UIVI INDEPEM)£1 Tr4T EXALIqINER'S RII PORT TO THE BOAIU) OF TRUSTEEI s ofi HITCHtN BRITtSH SCHOOLS TRUST I Leport lo Ilie Bo&i'd of Trnstees my eX￿ninatiO1] of tlie fiiiRncilll sl&t¢m¢nts of Hitchiii British Schools Tr'LlSt (the Tr'iist) for the year ended 31 Mar¢b 2￿. which are set out oJ] pages 13 to 27. This Leport is iJad¢ solely to the chai'itable cotllpan)Ps Inistees, as a bi)dy. in accordatsce with Cli&pter 3 uf P1I rt 16 of tl)e CoJnpat)ies Act 2006 and the charithble ¢ompany's trt￿tees as & b￿Y in a¢¢ordaiice willi section 154 of. the Chai'ities Act 2011. My indepeiidenl examinerfs work l)&$ beei) undertaken $0 that l inigl)t st&ts to tli¢ cliarilable con]paiiy's triistees those iiultei's l an] required lo slate lo Ihein in an independent exaniiner's repoll and for i)0 other puipose, To the fullest extei)t permitted by law, I do not ¥L¢cepl oi. assume responsibility lo anyone oth¢r Ili&n the ch&rit&ble cotnpaily* tlie ch￿Itable coinpany's ￿einbel¥ as a body &nd Il)e ¢h&ritsble ¢oinpany'8 trustees a5 a body, for iny ii)dcpendciit CxaMin￿ s work. for this report, or for the opinions I have fornied, Responsibilities And bllsis uf report As tlie ]4oard of TrLlStees of the Tmst (aNI aL80 its dAre¢toi's for the puiposes of coinpany law), YDU ar¢ r¢sponsiblc for th¢ pi'epurntion of tlie fiiiaDcial State￿entS in accordance with the requireinents of Ibe CompÉmies A¢t 2006. Having saLisfi¢cl myself that Lhe fin￿]¢1￿1 staten]ents of the Trust iiot required lo be audited und¢r Pgrt 16 of Lh¢ CoMpÉLnl￿ Act 2006 and are eli8ible for independent ex£u￿natIO14 I reFK)Tt in respect of my ex￿￿11]UtiO￿ of the Ttvst'g rinaiicial statemtnts carried oiit under section 145 ofthe Ch£u'ities Act 2011. In 04￿y1￿g oiit exaniitrdtion I have follow¢d the Dii'eciions given by the Cliarity Commission under section 145(5)(b) of the Charilies 2011. Indopondent eX￿D￿ner'S stthlemÈttt I have coinpleted my examinatioii. I cuifirni tliat no YnAtters come to ]ny attention lll ¢oiIDection with the exainirLatioll vtiig mc cal￿e to believe that in ally niaterial respect., ac¢outtting rccords wue not kept in t￿peCt of tl)e Tnigt as requii'ed by sectioii 386 of the Coinpaiiics Act 2006. the financial statemcnt5 do not accord with those records. or th¢ financi￿ stat¢niaits do not conwly with the accouiiting requireniBntg of s¢¢lion 396 OF tbe Coi)]pèinLES Act 2006 oih¢r than any ￿quireMent that the finaiicial stateinents give a triie and fair view. whicb is nol EL mattel considered as part of an independent Lxuminolion. or the fillE￿claI ytat¢meJJts hav¢ llol b¢¢n pre￿red in accordance with ilic methods Bnd prilicipl￿ of th¢ Statemcnt of Reconiinended PrwliL¢ for ￿Counti1]g and reporting by chzLrities applicable to chaLities prcparing their financial slatementy in &ccoidance with th¢ FinaL)cial Repoi'ling Stanclard applicable in the UIQ and Republic of Ii'eland (FRS 102). I hcive no Boncei'118 and liaY¢ ¢ome acr08s no otbei. ￿￿tter5 in oonnection with the exaininalion to which &ttention sl)oiild bo 'awll in this iq)oit in ordw to ¢nable a proper iinde15ttlliding of the finan¢ial slatemeiils to bs rc4Lchcd. Mark Hj¢riz¢n BA fcA l-l W Associates Liinited Dated.. 15 Decembcr 2025 12- ¢fj O Oi fn Ttr No ¥0 rn cn irt ¢ rn pi ch o HtTCHIN BRITISEt SCHOOLS TRUST BRITISFI SCHOOLS MUSEUM BALANC￿ SHElI T ASAT 31 MARCH2(125 2025 2024 Notss rtsed Assets Taiigible assets Current asset5 Stocks Del)tors Cash al bank <1nd in hand 13 237,399 248,647 14 15 3.403 6,956 245.463 1,489 7,110 230,214 255,822 238,813 CreditOTS: Aniounts falllng due wlthin one year 16 {16,481) (9,3281 Nct curient &￿etS 239,341 229,485 Total ass¢ts less current Ila]Jllltl¢s 476,740 478,132 Tnf om¢ fund R¢stricted fiJThds Ullrestrieted fi￿dS 19 58.41M) 418,340 65,758 412,374 476.740 478,132 The boiiipany is entitl￿ io the exemption from Lhe audit ie(iuir¢inent containeLI in section 477 of the Companirs Act 2006, Foi. tlie year elided 31 Mai'ch 2025. The directoi's ackiiowl¢dg¢ thcir rc8PQllSLbilitie3 fi>r coinplying witli the i'wuireinenls ofthe CoiiipaiiÈes Act 2006 with respect to accouttting reGords and the preparation of fiyjaneial staÉemeiit$. Tl)e membei's liav¢ iiot re￿7]red th¢ comi)any to obi&in an aiidit of ils fiDai)cial stal¢in¢iils for tl)¥ year in qii¢stion in 8ti¢01'dat)c¢ witli 8cction 476. These fiiiuncial statements Ih&ve been prepared iii llccordtmce with tli& provisiong applicable to Companies siibjBct to tl)e small coi)waiiie8 r¢giin¢. Tlie linanciaj stalcm¢llts wcrc approved by Ilic Board ofTruslees Oll 15 December 2025. Mrs L Saiuiders Trustee Company Reglstrllilon No. O257649S 15- HITCHIN BRITISH SCHOOLS TRUSf BRITISII SCHOOLS IVIUSII UM NOTES YO THE fiINANCIAL STATEIWJEI NTS FOR THE YEAR EIVDED 31 JVARCH 2&25 ACeoUntli￿ polieles Charlty Inforinntlon FfiL¢hin Brilisli Scliools Trust is a private c￿￿paI)Y limited by gU￿.ILllt#¢ in¢orpor£lted iii Eiigland and WalL%. The r¢￿st¢1'¢d otYLce is 41142 Queen StreeL Hitchin, Hci'tfordshir¢, SG4 9TS. 1.1 Bag19 Thf prepftratlon The accounts have be¢D prepared iii accordance with the Thvst'5 governii)g dociiinent, the Companies Act 2006 and 'Accoiinting aiid Rep0i'tt￿g by Charihes.. Statement of Recommended Pi'&¢li¢e appliLabl¢ to Charitie￿ preparing their accounts in accordanoe with th¢ Finan¢ial Reporting Standard &ppli¢able in the UK and Republic of li'eland (FRS 102)" (as 1( Tnended foi. accounting pffl'i￿S ¢omin¢ncing fi'om l j￿Uary 2016). The Trust is a ￿}bliC Benefit Bnlity ￿ der￿ed by FRS 102. Th¢ Trust has talceii &d￿ntage of the provision6 111 tlie SORP for ebariti¢s applyit)g FRS 102 Update BLill¢lin I not to pi'epare a Stalem¢iil o'fcash Flows. Th¢ fina1iei818tat¢n￿ntS Ell'e prepared in slerlingj wl]ich is the fuiictional eurrency of the Trust. Moiiew imoui)ts in th¢Be financial staternents ale roiillded to the neai'esl £. Th¢ fiu1￿Cial statements bave beellp￿pdTedundeI' the liistorioal co81 coiiventio]]. The piincipalaccountsiig policies adopted are Set out below. 1.2 GoAn¥ concer At tho tiing of apP￿VIng the fLt)Ancial stklteinents. the Board of T￿ste￿ IKLve reasffl)able expectEllioii that the Ti'iist k2S adequate resoill'c#g to colliinu¢ in opei'atioiial exIst￿l¢e for tlie foreseeable future, Thus the ]aoard of Trustees continiie to adopt the going concern basis of accounting iii preparing the finaiicial gtratenients. 1,3 Charitslble funds u1]r￿trILled fimds &re available for use at the discr¢l'ion of thc Btkird of Trustecs in fiirtliwLnce of their eliaritsLble objEGtiv¥s. RestriLled funds ure subject to specific condilions by donors or granloTS as to how they inay be used. The piirposes and uses of the restricled fiinds are set oiit iii the nol&8 to ihe fiiiancial stateL￿entS. Endownient fund8 are subject to specific conditions by donors that the c&pital must be ll)aint&ined by the Ti'iist 1.4 Income Iiicoine is r¢COgnis￿ when the Tnist is legally enlitled io il after any perforn￿nCe ¢￿idi110nS liave beeii mct, the amounts ¢an bc mcasured reliAbly, and it is probable tliat income will be I'eceived. Casli donations aro rocognised on receipt. Otl)ei' dtsiitttiotls recogiiised once the Tnist l)as been noLified of tlie doiiation, Llllless pei'foriiiaii¢o cO￿di(10￿S reqiiire deferral Df th¥ amoiint. Income tax iELoverable iii i'elation lo doiiatioi)s received iind¢r Gi"ft or dcEds of coveniLnt is recogw'sed at the time of ilie donatioi). Legacie5 al'e i'ecognised ot) receipt oi othei'wi5e if the TLUSt has be￿] notified of all inipending distributlOD, the amoiinl is l(iiown. Jiid r¢¢¢ipt is expected. If the amoui)t is not known, the legacy is tr￿ted as a conting￿lt asset. 16 HITCIIIN BRITISH SCHOOLS TRUST BRITISH SCFIOOLS MUSEUM NOTES TO THE FINANCIAL STATELVIENTS (CONTINUEI D) FOR THE YEAR ENDED 31 MARCH 2e125 Aceounllng policle5 (Colllinued) 1.5 [1 xp¢iidlture Expenditui'e is iecognis¢d once ti]ere is a legal oi. cDI)sli'uctive obligatLOll to ILansfer econoniic benefit lo a third party. Lt is proboble that a transfer of e¢onomi¢ benefLts wlll ￿ reqiiired in settlemelll, Ibe 8Jnoiml of the obligotion cau be measured i'eliably, Expendit￿e is Classified by activity. The costs of each iclivity are madÈ lip of the lotll of di1.￿t costs and shared ¢ost$, illcludiiig support ¢osls involv¢d it) undwtfjking ￿ch activity. Direct ¢osls altt'ibutable to a sin8le activity llre allobated dll'eolly to that a¢tiVLly. Sl]￿ed Costs which contribute to MO￿ (han one activity &￿1 siipport costs whicb are i)ol aiiribulabl¢ lo & siiigle activity al'e apportioned betweei) those activi¢ies 01) a basis ¢onsislent with the use of resoiirces. Ceiitrgl staff cosls are allocaled 011 the basis of tinie spent, and depi'eciation Charges are allocated oil the portion of the asset's u8¢. Exp¢ndiliire is recognised on an accruals basis when a liability is inciirred, as sooll as tlierv 18 a legal ui. constnictive obLigation cominittillg the charitable coinpaiiy to ¢he expenditur& EApenditLire includes any VAT which cannot b¢ iecovered, llnd is reported as p&rt of the expenditure to which it relates. Costs of geJLerating fi￿d8 Comprise the cos15 associ8l¢d with allra¢ting volLiIilary and tb¢ costs 0£ trÈding for fundrai8ing purposes inL,liiding the cafo and th¢ shop, CharilablE expenditLire comprises those costs iiiaiirred by the charitable company on the deliV￿Y of its activities 1¢ 1)d swvices. It inL,ILides both costs tbal bail be allocated directly to siicli actLVities And those Costs of an indlrectnat￿'e iiecessic I'y to swpport theni. Governance costs include th080 costs primai'ily associated with meetiiig the ¢ottstitiitional and statutory i'equireinents o( th¢ charitsbl¢ ¢ompany and include the i'eportiiig ttccoiintwits and legELI feeg Aiid costs linked t¥) Ihe cl)ari(able company's conipliaiictt with regulation aiid good pi'actibe. All c(xsts are allocatcd bctwecn tlic expcndittire catsgorics of thc Stat¢incLIt of FintLncial A£tiviti¢s oft a basis dcstgn¢d ID reflect the use of the resoLlI'¢e. Costs rclating to a particular activity aL'C allo¢&ted dircctlyi oihci's arc appoi'tioncd on tlie basis of estimates of t11e proportion of tiine Sp￿1t by staff on Ihosc activities. 1,6 TAnglble fixed as8ots TELngible r￿e(l agsets are initi&lly m%Lsured &t cost ancl 811bscqueiitly illeaKired at cost or valuation, net of depreciation and any inw&irniei*108ses. Tangible fLY¢d ass¢ls Stated at Gost l¢ss d¢pr¢¢iation. Th¢ school land, togyeiher with the origiiial school buildiiigy, pw'oha5ed by the in 1994. The Tmst is responsible for kceping the origiiia] buildings in fit and use￿[ Conditio￿ and these costs al'e Fnitten off as ineui'red, Conservation, rellovation and LeslDralion of the buildings, constituting improvements subsequent to the origii)d purchase, costing Inore Ihan £5,IX)O ar¢ capithlised and C&iTied in th¢ blllance sbeel at histoi'i¢81 Cosl, Land 18 not dcprcciat¢d. FIeritaEe a￿e¢S h&ve iiot been capitalised or depreciated ￿ no Yeliable v￿lIe c&n be attributeLI. DepieLidtionis provided al rale5 calculated to WLLte oifihe c05t less estilliated residual value oreacli Jsset over ils expecLed useful life, as follows.. Land and biiildin&y$ BLiildiiig renovjtion & resloratioii Fixtiirc5, fitting5 & equipJ]Jent Variable /D r'ieehold laii(I Is not d¢preciat¢(l. The goin or loss &rising on ¢lie di8posuI of ali asset is determined As the differeiice beiween the sole proceeds aiid th¢ tiyiiig vlllue oFilie asset, aiid is i'ecogni5ed iii tlie slalemeiil of finaiicial activities. 17 HITCHIN BRITISH SCHOOLS TRUST BRITISH SCHOOLS MUSLI UM NOTEI S TO THII FINANCIAL STATEMEI NTS (CONTINUEI D) FOR THE YEAR ENDED 31 MARCH2025 Accollntl]]g poucles (Coiitliiiied) 1.7 Impairment of flxed Assets At &wli reporting ￿]d (late. tlie Trust reviews the cai'lying ajnounts Df ILS tallgible llss¢15 to d¢teriiiine whether tIw'¢ 15 any indication tl)at those llssets have suffered Rn impairnient loss. If any siich LTrdi¢ati￿] eAi5ts, the recoverable aniou]]t of the asset is estimated in order to detsrinine the extent of tbe Im￿lI￿¢￿tIO88 (if aiiy). 1.8 Stocks Stocks al'e Staled al the lower of cost and estimated selliJ)g price less costs lo coinpletg and sell, Cost compi'ises dilecl maleiials and, wliere aFq)licable, dii'ect laboiir costs ai)d those overheads that bfLve been inCU￿d in brinbingtr the storks to their we8ent locatlQh iwid conditioii. Ilejns held for distributioll at no or Dominal coiisideration ale measured tlie lowtL of LeplacemeTht cost and cost. Net realisable valiie 18 the e8tiinated selling price less all estiinated costs of cotnplelion and ¢0sls to be inciirred in Inarketiii& sBlling and di5ti.ibutioii. 1.9 Cash and cish equivAlertts Cush and eqiiiva16titg inGlude casli in hand, deposits held at ￿11 with b1( nk5. Other shoit-tenn liqiiid invesimellts with original mAturitieg of three months oi. less, and iKLnk ovcrdi'afts. Bank overdi<1fts ￿'e sho￿] withii) borrowiiigs in currelll liabiliiies. 1,10 Flnanclal Instrnments The Th'ust has elected io pply the provisions of Section I I 'Basie Financial In8trunients' and SEction 12 '0ther Fin