Registerod number: 2681512 Charlty number: 1014651 ST CATHERINE'S SCHOOL TWICKENHAM (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
ST CATHERINE'S SCHOOL TWICKENHAM IA company Ilmlted by guarantga) CONTENTS Page Reference and administratlve detslls of the Company? Its Governors and advlsers Trustees. report Independont audltors. report on thè financlal statements Statsrnenl of flnandal actlvltles 4-12 13-16 17 Balance sheet 18 statomgnt of cash flows 19 Notes to the flnanclal Gtatemgnts 20-39
ST CATHERINE'S SCHOOL IWICKENHAM IA company Ilmltsd by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Governors Ms S Hamilton, Chair of Governors Mrs H Campbell Dr D Coughlan Mr M Edwards Mr A Esguemllas Lele Mrs E Morris Iresigned 31 August 20251 Mr J Richards (resigned 31 August 20251 Ms V Mast (appointed 1 September 20241 Ms R Toner lappointed l Novemb8r 20241 Company reglstered nurnber 2681512 Charity reglstered number 1014651 Registered ¢)ffic• Cross Deep Twickenham Middlesex TW1 4QJ Page 1
ST CATHERINE'S SCHOOL TWICKENHAM IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Senlor staff Headrnislress.. Mrs J McPherson BA (Honsl. DipED, MA- until 31 December 2025 Interim Headmistress.. Mrs J Hennis Rowe, BA (Hons), MA. PGCE- from 1 January 2026 Bursar. Clerk to the Govemors and Company Secretary.. Jonathan Hughes BA {Hons). FCA Senior Deputy Head.. Mrs A Saunders MA ICanlab}, PGDL. QTS- until 21 April 2025 Senior Deputy Head.. Mrs L Eaggrs, Bsc (Dunelml, MEd {Cantabl, PGCE {Cantabl- from 22 Aprll 2025 Deputy H88d Academic.. Mr C Stringer BA MA- from 1 January 2026 Deputy Head Academic.. Mrs J Hennis Rowe. BA (Honsl. MA, PGCE- until 31 Docernber 2025 Deputy Head Pastoral= Mrs L Eagers, Bsc {Dunelrnl, MEd {Cantabl, PGCE {Cantabl- until 21 April 2025 Deputy Head Pastoral.. Mr A Mair BA (Honsl (Dunelml, FCMI, Cmgr. FRSA, PGDip. NPQSL, MCCT, QTS - fiDm 22 April 2025 Head of Prep.. Ms C Sharps BA (Honsl Head of Sixth Form.. Mr C Stringer BA MA- until 31 December 2025 Independent audltor F8ltOnS Chartered Accountants 1 The Green Richmond Surrey TW9 1PL Bankers National Westminster Bank plc 25 King Street Twickenham TW13SU Solicitors Veale WasbroLJgh Vizards Orchard Court Orchard Lane Bristol BS15WS Page 2
ST CATHERINE'S SCHOOL TWICKENHAM IA company limitsd by guarantèe) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS GOVERNORS AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Pension Advisors Bamett Waddington LLP 2 London Wall Place London EC2Y SAU Insurance Brokers Marsh Ltd 4 Milton Road Haywards Heath West Sussex RH16 1AH Page 3
ST CATHERINE'S SCHOOL TWICKENHAM (A company limited by guarantee) GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Governors Iwho are also directors of the charity for the purposes of the Companies AGtI present their annual report together with the audited financial Statements of the Cornpany for the period 1 September 2024 to 31 August 2025. The Annual report serves the purpos89 of both a Trustees, report and a dlrectors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements. the requirements of the charitable companls governing document and the provisions of the Ststement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applieable in the UK and Republic of Irdand IFRS1021 leffeclive 1 January 20191. structurei governance and management a. Constitutlon St Catherine's School Twi¢konham was founded in 1914. On 27 January 1992 il was incorporated as charitable company, limited by guarantee, registered in England and Wales under company number 2681512 and charity number 1014651. The governing d0ment is the Memorandum and Artides of Assoryation dated 7 December 2009. b. Organlsatlonal structure and deGi5ion.maklng policles Under the Memorandum and Articles of Association, the Governors are the members and the Directors of the Company. Under clause 4 of th8 Articles of Association, the Board of Governors consists of not less than four and not more than fifteen individuals. All Governors are eligilje for re election. The Govemors who served duriThJ the year end and since are shown on page 1 of these financial stslements. The Goveming Body is legally responsible fL)r the overall management and control of the S¢h(xJl and rn88ts at least three lime5 per year. The Goveming Body delegates lo Committees the duties spectfied under the name of each Committee and may, as they see fil, refer other matters to them respectively from time to time. The current Committe88 of the Govemlng Body are as fdlows.. Flnance, Premises and General Purposes Education Safeguarding Health and Safety In the opinion of the Board of Governors there is no indiwdual able to exercise significant ntrol over th8 company. in accordance with Ihg Companies Act 2006. The day lo day running of the School is delegated to the employees who are considered lo be key management personnel, boing the Headmistress and the Bursar and Clerk lo the Governors. supported by other members of the Senior Management Team, bging the Senior Deputy Head. the Head of Prep. the Head of Sixth Fom), the Deputy Head (Academic) and the Deputy Head {Pasloral}. The remuneration of key management personnel is sel by the Board. The approprfateness and relevance of tho remuneration policy is reviewed annually induding raference lo comp8risons with other independent schools lo ensure that the School remains sensitive to the broader issues of pay and emp5oyment conditions elsewheTe. Delivery of the Companys charitable vision and purpose is primarily dependent on our key management P8rsonnel and staff costs are the largest single elernenl of our charitable expenditure. Page 4
ST CATHERINE'S SCHOOL TWICKENHAM (A Company limlted by guarantee) GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Structuro, governance and management Icontlnuedl c. Methods of appointsngnt or electlon of Govemors The Charitys elected Govemors are appointed al a meeting of the Board on the basis of nominations received from existing Govemors and the Headmistress lo the Board's specifications concemlng eligibility, personal competence. raroe of Spla11$t skills and local availability. d. Pollcles adoptsd for the induction and trainlng of governors New Govemors are inducted into the worffings of the School. including Board policy and procedures. through an infomial induction programme, including visits to the School. rneetings with senlor staff and the provision of information rglgvanl lo being a Governor and Trustee. Training, seminars and conferences are available to all Governors lo enable them to keep abreast of developments affecttng the School and the independent school sector. Obleotlvgs and a¢tlvltles a. Pollclgs Charitsble Objects The objects of the Charity, in accordance with its Memorandum and Articles of Association, are the advancem8nl of educallon generally and, in particular, the provislon and conduct of an independent Catholic day school for girfs, who are educated from the age of five up to the age of eighteen. In the furtherance of this Object the Govemors, as the charity trustees, have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's published general and relevant sub sèctor guidance concerning the operation of the Public Benefit requirement under that Act. In meeting these objects. the School's aim 18 to b8 a place where girfs of all faiths are helped to achieve Ihoir personal best and lo be part of a friendly and welcoming comrnunity. Our goal is lo be a school that lives the Gospel values, promotes the dignity ol every individual and is committed to inspire all pupils to achieve academic excellence. The spiritual, moral, soryal and cultural development of pupils is supsx)rt8d through the faith life of the School, which is welcoming and focused on building self worth and belonging. We actively promot8 the fundamental British values of democracy. the rule of law, individual liberty, free speech and rnulual respect and 1018rance of those with different faiths and beliefs. The School's goal is also achieved through a wide range of opportunities for all pupils preparing them for the challenges of adult life and helping them to understand and fulfil their responsibilities to self, family and the wider community. Public benefit aim The School's public benefrt alm include5 its admissions policy, lo widen access by assisting students from lower income, or otherwise disadvantaged families. lo benefit from a Sl Catherine's educat'on. It is a requirement that applicants are in syrnpathy with th8 Catholic ethos of the School, and selection procedures are also accessible to all applicants regardless of ethnicity. disability or background. We aim lo provide the highest quality of academic luilion and lo develop the provision of a wide range of opportunities for all pupils, irrespective of their means, faith or cultural background. The School also makes ils facilities available to the wider local comrnunity- The Sthool's public benefit aim also includes being a valued and responsible member of the community. through bullding strong mutually beneficial relationships with other schools and community organisations. Page S
ST CATHERINE'S SCHOOL TWICKENHAM {A company limlted by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Oblectlves and actlvltles (contlnuedl The Board's main objectives are li} to gducale pupils to high levels of per8on81 and academlc athievement lill to further develop rllarketing strategies to increase PLtpil retention and recruitment liiil to further improve mMunication, both wthin tha School and to extemal parties (iv) to continue to improve the fabric of the School. its facilities and resour¢es In setting objectives and planning for activities, the Governors have given due consideration to general guidar published by the Charity Commission relating lo public benefit, Including the guidance 'Public beneff(.' running a charity IPB2)'. b. Strategles for achlevlng objectlves {il Staffing.. to maintain the existing high leacherlpupil ratio; to appgint new tsachlng staff. induding staff to support the strength of the School's mission and ethos. together with additional administrative roles lo support HR, Marketing, IT and other roles: 11) Pupils.. to continue to monitor and develop pupi15 who have been identified as Able. Gifted & Talented- lo develop schemes of work throughout Key Stages 3. 4 and 5., to Cater for GCSE and A Level exams,. to continue to develop the new reporting structures., lo continue lo develop co-CUrriGular provision, and to focus on well boing and self worth,. lo further support pupils through university applications processes., lo continue lo develop senDr and middle management skills. so as to better enable department and pupil progress., to continue lo develop the Careers programm8', iiil Marketing: to continue lo develop marketing materials, and promote a strong and attractive irnage of the School through thg website and soaal media,. to use analysis about the admissions process lo improve pupil recruitment,. lo further develop and maintain effective communication wth prospective parents., to continue lo rais8 the School's profile externally through participation in external events and competitions., to continue lo market departmental and whole school successes, including via social media., to monitor and improve transition from Prep to Senior School.. lo contlnue lo invest in Prep so as lo strengthen the Year &6 model. I Communication.. to continue ensure all necessary infornialion is readily available on the websitè and through appropriate social media Channels., to further develop and improve communications with current parents., lo build on the School's key data management and communications plafforms platforms, ISAMS and My School Portal., and to continue to enhance IT infrastructur8 and user experience to the benefit of pupils. 51aff and other key StakeIderS. vl Community.. lo continue to make the School's facilities available lo the local community. Including wth St Mary's University and the Diocese of We51minster', to further develop the regular community newsletter-, lo further develop links with local primary schools both in the state and independent sectors., lo improve the sile, including leaching and sporting facilities,. lo use the Creative Hub to enable community links. c. Actlvltlgs undertaken lo a¢hlove objectlves The Charity principally provides education in the Royal Borough of Richmond for girls from the ages of fNe to eighl8en. This year the school's sludenl population averaged 388 pupils12Q24: 4041. of whom 331 12024.. 3251 were in the Senior School. Page 6
ST CATHERINE'S SCHOOL TWICKENHAM IA company Ilmltsd by guarantee) GOVERNORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Strategic report Achlevements and rfolanCe . Revlew ot activltles and factors rolovant to achleve objectlves OperalK)nal perfomiance of the school This was another strong year for GCSE results al Sl Catherine's with an impressivo value-added score ol 0.9 being achieved alongslde strong grades- 40%12024- 42¥.1 of pupils athieved grades 9-8. 631.12024.. 64 /ol achieved 9-7 and 85%12024: 81%) achieved grades 9* It was a successful year for St Catherine's A Level pupils with 84%12024'. 87%) of the grades achieving A" C. This resulted in a strong range of unlverdty destinations. with the majority of the year group winning places al Russell Group institutK)ns'. The School has enjoyed more success with academic competitions. In ISA STEAM all year groups from 7 to 13 plad first. Sl Catherine's pupils were finalists in the ISA Coding. ISA Public Speaking and Imperial College Science & Innovation competitions. There was an honourable mention to St Catherine's pupils participating in the British Philosophical AsSoation Philosophy Matters competition. Our pupils continue lo excel at sport, achieving success both locally and nationally. Highlights included several individual winners at ISA regional and national swimming. St Calhering's Netball, Rugby. Cross County and Athletics teams were winners at ISA regional and national competitions across several age groups. St Catherine'8 teams entered into the ISA Dance and Acapella competitions were finalists. Pupils have continued to enjoy a wde range of co-curricular activities. The swmming pool received further enhancements to ensure this enviable facility is available lo pupils throLtghout the year. Planning has been submitted for lighting enhancements around the main sports field and netball courts which will enable safer and improved usage over the darker months. The addition of the St James Hall Inow known as the 'Creative Hub'} provides additional footprint for expanded dance and music <rrICUlar activities The Duke of Edinburgh's Award Scheme remaln8 very popular with Senior School pupils and numbers participating al Bronze and Silver are strong. Our Ml1t1anS have had great success in their A$slated Board exams. and drama pupils achieve hlgh LAMDA grades. The drama productions were also great SucsSes, as were th8 choir concerts, and a pupil cast and Crew from Sl Catherine's perform al the Edinburgh Fringe every iwo years. Sl Catherine's choirs and musicians have perfomed at the 02 and Richmond Music Festival. Public Benefit Through the School's PublK Bengfil activity. Sl Catherfne's aims lo be a valued member of th8 commLtnity, sustaining strong relationships with local maintained schools and other civic bodies. Additionally. the School encourages our pupils in their allruislic activi ties. supporting local, national and intemalional inilialives for the wider good. The School is pleased to make facilities available linduding the swimming pool, the Hall and the 'Creative Hub,) lo other school and community groups. Pago 7
ST CATHERINE'S SCHOOL TWICKENHAM IA company Ilmited by guarantee) GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR EMDED 31 AUGUST 2025 Strateglc report (contlnuedl hlevements and pgrfomiance Icontlnuad} Links witt) Local Maintained Schools and Community Groups= St Catherine's continues lo forge links wSlh the wider community. We have maintained our very g(K)d relationship with St Mary's University, including support for trainee teachers, and attendance al weekly Mass. where pupils read and sing for the congregation.. local parishioners are also invited to attend feast day Masses al Sl Catherine's and are invited to enjoy a Christmas lunch with the Prep and Sixth Form gids. A Prep 'Sunday Funday. is an annual event open to the local community at heavily discounted cost. We hav8 further developed strong links wlth St James, Catholic Primary School, including liai80n about inspection preparation and a secondmenl from St Catherine's. whereby we provide a part lime Chaplaln. We also support the Twlckenharn Choral Society with subsidised access to our facilities and through financial donations to support specific programmes of events in the local community- Staff are also working on projects to widen music partnership with the maintained sector. Links with loca1 groups indude the School's commitment lo charity. St Catherine's pupils work hard lo support a number of organisalions. induding the Richmond Christmas Dinner Fund, Mary's Meals and Jusli¢e Defenders. The Creative Hub has enabled more links to b8 established with the cornmunity, including the Sl James Parish Ycljlh Group. The School also has links with Pope's Grotto PreservalSon Trust. The Head sits on the board and we help the objectives of the Trust by opening up the School to host vlsits lo the Grotto. Faciliti88 We continue lo makg OLJr School facilities available, either free of charge or at subsidised rates, to local and other charitable groups within and outside school hours. The School remains committed to working with other schools in the area. both independent and stale, to support and enhance pupils, educational experience. Examples of such support include providing r8sources and support to a number of local maintsined schools, making our swimming pool and vehicles available lo schools either free of charge or at subsidised rates and provldlng offirials for various County Sporting events. like netball and cross country championships. Bursary Support.. We continue to offer rneans tested bursarfes, in¢rea$ing access lo families who wwld not otherwise be able lo send Ih8ir daughters to the school. During Ihls acadgmi¢ year 29 {2024: 281 pupils have benefited from our Bursaries programme. The spirflual life of the School The spiritual life of the School is an Important part ol each day al St Catherine's. Whole School, Senior, Prep and House Assemblies all include prayer and worship. The ChaaIn¢Y have especially important roles, supporting the programrne for Mass and liturgies. runnlng retreats and working with other staff lo support pupil faith fomiation and wellb8ing. Throughout the year Mass was c81gbraled at the School on Holy Days of obligation and special fea51 days. Sl Calhgrine's Day at the end of the Summer Term is an established school event. and includes a Mass for the whole community. A rots enables pupils from each Year Group to attend the Parish Mas5 on Tuesdays at Sl MaS University. Page 8
ST CATHERINE'S SCHOOL TWICKENHAM {A company Ilmlted by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Strategic report Icontinuedl Achlovements and performance (contlnuedl The School Travel Plan The School's Travel Ptan has been awarded Gold level accreditation with STARS. a national scheme which has the objectives of prornoling active travel to school. reducing congestion and improvlng safely around schools. b. Golng ¢on¢orn After maklng approprfate enqulrf8s, the govemofs have a reasonable expectation that the School has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis be found in the Accounting Policies. c. Fundralslng Inltlatlves and perfomiance The School continues its fundraising efforts and reconnection with alumnl Is a current focus. The Friends of St Catherine's IFOSCI are a valuable partner to the School and supp)rts inili8lives, funding Prep equipment, pupil talks, sports equipment and academic resources in order lo enhance pupil provision and experience. FOSC is supporting a comprehensive upgrade lo the lighting and acoustics in the main hall which is planned for the 25126 academic year. Flnan¢lal and rl$k manag9mont obJadlves and pollcles . Flnanclal revhw The School's financial position is secure. desprfte a negative cash flow lor the year from operations. Al the year end fixed deposits and bank balances amounted to £4,951 k, a decrease of £330k over the previous year. During the year, bank loan repayments were made of £60k12024 .. £50kl and fixed asset purchases were made of £310k {2024 . £424kl. The totsl income for the year was 0.1V/o higher than last year12024.. 4.60A higher). Within that rigure, gross fee ncome was 0.6% hlgher than the previous year12024.. 4.7% higher}. Tuition fees, nel Df bursary, scholarship awards and other reductions. were 0.5% lower than last year 12024.. 4.6% higher). Bursary awards of £311 k 12024 £286k} were made as part of discounts dunng the year. Schwl Activities Income was £2k lower (2024 . £29k lowerl. On the expendrture side, the cost of raising funds (bank loan interest and rats cap premium) was £31k lower 12024 £62k higher) than last year. Charitable activities expenditure was net 2.7% higher than last year {2024.. 4.1Yo higher}. This was mainly due lo higher staff salaries, an increase in resource provision, and higher employer pension contributions to the teachers pensions schemes, largely due lo the significant 74% increase in the Teachers Pension Scheme employer contribution rale b8twe8n September 2019 and April 2024. A pensions nsullalion during the financial year has now capped the School's exposure lo further rale increases. Net movement in funds was £1125,885112024= £28.9411. This nel loss has resulted in a return on nel tuition fees of 2.0% 12024= 0.4¥ts1. The net loss for the year of £125,885 has decr8as8d the unrestricted reserves lo £8,849,746. Page g
ST CATHERINE'S SCHOOL TWICKENHAM (A company Ilmlted by guarantee) GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 b. ReseThes pollcy Govemors keep under review the level and nature of the reserve funds of the School. The annual net operatSng surplus that is generated is the S¢hod's prime SOLtr¢e of funding. The accumulation of free reserves is required lo finance worng Capital needs together with the ongoing capital expenditure necessary lo upgrade the School's facilities in order to meet the aspirations of the stakeholders of a prefflier educational establishment. At 31 August 2025 there were unrestricted funds of £8,849,74612024.. £8,975,631) and tangible fixed assets of £8.255,668 givSng positive free reserves of £594.078. The SORP definition of free reserves excludes the fixed assets which have been financed by long lemi loans which are included within the definition. For the purposes of short and medium term financial management, the Governors are concerned rnore with the rnanagement of working capital, and the healthy working capttal position is entirely in line wilh the policy of seeking to maintain free resources of at least six weeks total income, lo cover the eventuality of a material decline in incoming resources or matedal unexpected expenditure. c. Prjnclpal rl$k$ and uncertalntles The Board ol Govemors has considered the princlpal area5 of the Schcx)I's operations and consitjered the rnajor risks faced from time to time in each of these areas. Detailed consideration of risk is delegated, as considered appropriate. to Individual mernb8rs of the Board. its Committees and members of the School Senior Management Tearn. Ulilising a Risk Management Matrix, risks are identifsed, assessed as to their likelihood and pol8nlial impact, together with relevant rnitigaling controls operated during the year. The above persons monSlor the effectiveness of the systems of intemal control and viable means, including insurance cover and appointing consultants where appropriate, by which those risks already identified can best b8 mitigated. A formal revi8w of the risk management process is undertaken by the full 8oard of Govemors on an annual basis. The princlpal risks currently facing the School are any significant fall in pupil nurnbers, government action adversely affecting independent Schools (including the inlrodu¢tion of VAT on tuition fees from January 2024, increases lo ernployers National Insuran¢8 from April 2025 and the loss of rnandatory business rate relief from April 2025}, the potential failure of compliance wSlh statutory or other regulations and significant cost increases. The general stste of the economy wll also affect the level and stability of interest rates. which will affect the ability and inclination of banks to lend, th8 cost of borrowing and the level of investment returns. The key controls used by the SchocA lo manage risk include.. Del8il8d terms of reference for all committees Compreh&nsive strategic planning, budgeting and managem&nl accountlng Established organisational structures and reporting lines Periodic review of the risk management matrix delegated lo Governors. Committees and consolidated by the Board of Governors The establishment of dedicated standing committees for Safeguarding Regular minuled Compliance Meetings, and SEND and Accessibility Meetings attended by SMT and other relevant stsff Regular Health and Safety reviews of the sile. includiw visits by govemors Rolling review of written School policies Clear authorisalion and approval levels and segregation of duties Govemors annual strategy day and skills assessment Safeguarding procedures as required by law for the protection of children Page 10
ST CATHERINE'S SCHOOL TWICKENHAM {A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 d. Flxed as$•ts The School's tangible assets are all held for use by the School and al the dats of the accounts there is a legal charge and debenture over them as security for the bank loans. The Governors are confident that the market value of these assets which arg ¢urrgnUy in use are in excess of the value reflected in these financial stsl8menls. An independent valuation for secured lending purposes was carried out in 2023 by a fim) of Chartered Surveyors which valued the freehold interest in the property at a market value in ils existing use and present condition as a fully equipped and operational ents'ty, having regard lo its trading potential of £11.3 rnillion. e. Materlal Investments pollcy The investment power5 of the Govemors are carried out in a¢cordancg with th8 Mernorandum and Articles of Association. The Governors continue to keep under review the invtsstmenl risks and rewards in the Current market and the economy. The investment pc>licy is to maximise the lolal Telurn with a low risk approach, within the bounds of current financial market conditions. Bearing in mind ftjture emerging development plans. all available retained funds. other than those required for project and day to day working capital management, are placed on deposit with competittve reputsble banking institutions. ststement of Trustses. re$ponslbllltle$ The Governors {who are also the dlreclor8 of the Company for the purposes of Company law} are responsible for preparing the Trustees, report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Aco)unllng Practic81. Company law requires the Govemors to prepare financial staternenls for each financial . Under company law, the Governors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of its incoming resources and application of resources, induding its incorne and expenditure, for that period. In Preparing these financial statements. the Governors are required lo.. select suitsble accounting policies and then apply them consislenuy; observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estirnales that are reasonable and prudent.. stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material departures disclosed and explained in the financial statements., prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the Company will continue in business. The Governors are responsible for keeping adequate accounting rocords that are suffiuent to show and explain the Companys transactions and disclose with reasonable accuracy al any time the financial position of the Company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also reswnsible for saf&guarding the assets of the Company and hen for taking reasonable steps for the vention and detection of Iraud and other irregularities. Page 11
ST CATHERINE'S SCHOOL TcKENHAm IA company Ilmltsd by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Dlsclosure of Infomiatlon to audltors Each of the persons who are Governors al the time when this Trusle8s' report is approved has Gonfirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charity5 auditors are unaware, and Ihal Trusloe has taken all the steps that Ought to have been tsken as a Trusts8 in order to be aware of any rel8vant audit information and lo establish that the charty's auditors are aware of that information. Audlt¢rs The auditors, Feltons, have indicated their willingness lo continue in office. The designat Governors will propose a motion reappointing the auditors al a rneeting of th8 Govemors. Approved by order of the members of the board of Govemors on 24 March 2026 and sign on their behalf by.. Ms S Hamilton (Chair of Trustees) Page 12
ST CATHERINE SCHOOL TWICKENHAM IA ¢ompany limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST CATHERINE'S SCHOOL TWICKENHAM Opinion We have audited tho finanry81 stslements of St Catherine's School Twickenham Ilhe 'tharilable companll for the year ended 31 August 2025 which comprise the Statement of finantial aclivilies, the Balance sheet, th8 Statement of cash flows and the related notes, including a summary of significant accounb'ng policies. The rinancial reporting frameworf( that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards. including Financial Reporting Standard 102 'Tho Financial Reporting Stsndard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements.. give a true and fair view of the stsle of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, induding its income and expenditure for the year then have been properfy prepared in accordance with United Kingdom Gengrally Accepted Accounting Practicg.. and hav8 been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan with Intemational Stsndards on Auditing IUK} IISAS IUKII and applicable law. Our responsibilities under those standards a further described in the Audthrs, responsibilities for the audit of the flnancial statements section of our report. We are independent of the charitable Company in accordan¢e with the ethical requirements that are relevant lo our aud51 of the financial 8talements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit gvidence we have obtained is suffiaent and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the finanaal statements, we have concluded that the Trustees, use of the going concem 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 unrtaIntieS relating to events or cxjndilions that. individually or collectively, may cast significant doubl on the charitable companls ability to continue as 8 going concern for a pariod of al least twelve months from when the financial statements are aulhorised for i8SUe. Our responsibilities and the responsbilities of the Trustees w(th respect to gng concern are d8scribed in the relevant sectlons of Ihls report. Page 13
ST CATHERINE'S SCHOOL TWICKENHAM (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST CATHERINE'S SCHOOL TWICKENHAM ICONTINUEDI Other InforniatSon The othw infomiation comprises the infomialion included in the Annual report otherthan the financial ststsmenls and our Audit¢xs' report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financjal stslements does not cover the other information and, except lo the extent otherwise explicitly ststed in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the oth8r information and, in doing so, consider whether the other information is materially inconsistent with the financial slalements or our knowledge obtained in the course of the audit. or otherwise appears lo be mat8rially misslaled. If we identify such rnalerial inconsistencies or apparent material misstslemenls, we are required to determine whether this gives rise to a materfal misslalement in th8 financial stalernents themselves. If. based on the work we have performed. we conclude that there is a material misstatement ol this other information, we are required to report that fact. We have nothing lo r8POrt in this regard. Oplnlon on other matters prescribed by the Companle$ Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in th8 Trustees, Report induding the Strategic Report for the financial year for which the financial slaternents are prepared is con8iStenl with the financial 51at8ments. the Trustees. Report and the Strategic Report have been prepared in accordance with applicable legal requirernenl5. Matters on whlch we are requlred to report by ex¢oPtlon In the light of our knowledge and understanding of the chafitable compary and its environment obtained in the coursg of the audit. we have not identified material rnis8tslements in thè Tru8l&es' Report induding the SlrategiG Report. We have nothing to report in respect of the follo¥Mng matters in relation to which Compani88 Act 2006 requires us lo report lo you rf. in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not b8en received from branches not visited by us., or the financial slalen*nls are not in agreement with the accounting records and return5', or certain disclosures of Trustees, remuneration speclfied by law are not made,. or w8 have not reiVed all the infomiation and explanallons we require for our audit. Pagg 14
ST CATHERINE'S SCHOOL TWICKENHAM IA company limlted by guarantse) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST CATHERINE'S SCHOOL TWICKENHAM ICONTINUEDI Responsibllifjes of trnstees As explained more fully in the Trustees, responsibilities slalemenl. the Trustees (who arg also the directors of the charitable company for the purposes of company lawl are responsible for th8 pparation of the financial stalernents and for being satisfied that they give a true and fair view, and fof such internal control as the Trustees determine is rkecessary lo enable the preparaOn of financial statements that are free from material misstatemenL whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's abillty to continue as a going concem. disclosing, as applicable, mallers related to going concern and using the going concem basis of aOnting unless the Trustees either intend lo liquidate the charitable company or lo cease OP8rations, or have no fealistic altemative but to do so. Auditors. responslbilitles for the audlt of tho flnanclal statements Our objectives are to obtain reasonable assijrance about whether the financial statements as a whole are free from material misslalem8nl, whether due lo fraud or error, and lo issue an Auditors, rewrt that includes our opinion. Reasonable assurance is 8 high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a rnaterial misslalemenl when it exists. Misstatements can arise from fraud or error and are considered materfal If, Individually or in the aggregate, they could reasonably bè expected to influence the onoMiC decisions of users taken on the basis of these financial ststsments. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design prOdureS in line with our responsibilities, outlined above. to detect material misstslements in respect of irregularities, including fraud. The extent to which our procedure8 are capable of detecting irregularities, including fraud is detailed below.. We assessed the risk of material misstatement of the financial ststements, including the risk of material misstatement due lo fraud and how it might occur, by holding discussions with management and thos& char9ed with governance. We obtained an understanding of laws and regulation8 that c4yJld reasonably be exCted to have a material effect on the financial stalernents through discussion with rnanagemenl and those charged wth govemance, including financial reporting and taxation legislation. We considered that 8xlenl of compliance with those laws and regulations as part of our pro¢edurgs on the related financial statement iterns. We inquired of management and those charged with governan as to any known instances of non- compliance or suspected non-cornpliance with laws and regulations. We r8maln8d alert to any indications of non-corllpliance throughout the audit. We addressed the risk of fraud through management override by reviewing the approprlateness of a sample of joumal entries and other adjustments.. assessing whether the judgemen15 made in making key accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant Irdn5actions that are unusual or outside the normal course of business that we come across throughout the audit. Because of the inherent limitations of an audit. there is a rfsk that we wll not delecl all irregularities, including those leading lo a material misslalemenl in the financial statements or non-compliance with regUlaOn. This risk in¢reasos the more that Compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to be¢om9 awar8 of instances of non-compliance. The risk is also greater regarding irregularities o¢curring due lo fraud rather than error. as fraud involve5 intentional concealment, forgery, colluslon, omission or rnisrepresenlation. Page 15
ST CATHERINE'S SCHOOL TWICKENHAM (A company Ilmlted by guarantgal INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST CATHERINE'S SCHOOL TWICKENHAM (CONTINUED) A further description of our responsibilities for the audit of the financial statements is located on the Finanaal Reporting Council'5 website at.. www.frc.o .ukJauditorsres onsibllilies. This descriptlon forrns part of our Auditors, report. Use of our report This report is made solely lo the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 01 the Companies Act 2006. Our audit work has been undertaken so that we might slate to the Charitable companls members those matters we are required to state to them in an Auditors. report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility lo anyone other than the charitable cornpany and its members, as a body, for our audit work, for this reporL or for the opinions we have fomied. Richard Rhodes (Senior statut¢ry audltorl for and on behalf of Feltons Chartered Acuntants Statutory Auditor 1 The Gr8en Richmond Surrey TW91PL Date.. 25 March 2026 Page 16
ST CATHERINE'S SCHOOL TWICKENHAM IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2025 Unrestrlcted funds 2025 Total funds 2025 Tol81 funds 2024 Note Income from: Charitable activities Lettings income Investments 7.189.262 125,045 166.086 7.189,262 125,045 166.086 7,225,232 99,022 147, 122 Totsl Incomg 7.480.393 7.480,393 7,471,376 Expenditure on: Raising funds Charitsble activities 141,814 7,464,464 141,814 7.464.464 IT3, 166 7.269.269 Total oxpgndlture 7.606,278 7,606,278 7,442,435 Net movement In funds 1125,885) {125,885) 28,941 Reconclllatlon of funds: Totsl funds brought foN4ard Net movement in funds 8,975,631 {125,8851 8,975,631 1125,8851 8,946,$90 28.941 Totsl funds carried forward 8,849.746 8.649.746 8,975,631 The Slalemenl of Hnanclal Aclivltles Includes 811 gains and losses recognised in the year. The notes on pages 20 10 39 form part of these financial statoments. Page 17
ST CATHERINE'S SCHOOL TWICKENHAM IA company limited by guarantee) REGISTERED NUMBER: 2681512 BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed assets Tangible assets 13 255,668 8.302.289 8,255.668 8,302,289 Current as$•ts Debtors 14 2,050.580 4,951,441 1,779,405 5.287,872 Cash al bank and in hand 7.002.021 7,061,277 current liabilitles Creditors-. arnounls falllng due within one year 15 {3,844,9571 (3,559,334) Net current a$$ots 3,157.064 3.S)1,943 Total assets less current liabilities 11.412,732 11.804,232 Creditors= arnounls falling du8 after more than one year 16 {2.562.9861 12.828,601) Total net asset5 8.849,746 8,9T5,631 Charity funds Restricted funds Unrestricted funds 18 18 8,849.746 8,975,631 Total funds 8.849.746 8,975,631 Thg Trustees ackn0&d9e their responsibilities for complwng wth the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial ststements were approved and authorised for 24 March 2026 and signed on their behalf by.. issue by the Trustees on Ms S Hamilton (Chair of Trustees) Th8 not9s on pages 20 to 39 fomi part ofthtrse financial statements. Page 18
ST CATHERINE'S SCHOOL TWICKENHAM (A ¢¢)mpany limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash flows from operating actlvities Net $h used in operating act188 {127,0791 1,300,998 Cash flows from lTrvo$tlng a¢tlvlllo$ Diwdends. interests and rents from Inve81ments Purth8se of tangible fixed assets 166,086 1309.7581 147,122 (424,384) Net cash used In Investlng actlvltles 1143,6721 {277,2621 Cash fl¢)ws from flnanclng activlties Repayments of borrowing 159.6801 (50.412) Not ¢a$h used In flnancing activities 159,6801 150.4121 Change In cash and Cash equlvalents In the year Cash and cash equNalents at the beginning of the year 1330.431) 5.281,872 973,324 4,308,548 Cash and cash equivalent$ at the end of the year 4.951.441 5,281,872 The notes on pages 20 10 39 fomi part of these financial slalements Page 19
ST CATHERINE'S SCHOOL TWICKENHAM {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poll¢l&s 1.1 Basis of preparatlon of flnanclal statements The finand81 slalements have b88n prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their a¢counts in accordance with the Financial Repong Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and thè Compani8s Act 2006. St Catherine's School Twickenham meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise ststed in the relevant accounting policy. The finanaal statements are prepared In sterling which Is the functional currency of the charity and rounded to the nearest £. 1.2 Company status The company is a private company limited by guarantee and is registered in England & Wales. The address ofthe registered office is Cross Deep, Twickenham. Mlddlesgx, TW14QJ. The memb8rs of the Company are the Govemors named on page 1. In the event of the Company being wound up, the liability in resP8Ct of the guarantee is limited to £1 per member of the company. 1.3 Going concem The finanaal statements are prepared on a going concem basis. The govemors have a reasonable expectation that the cornpany has adequate resources lo continu in operational existence for the foreseeable future. As a resutt, they continue to adopt the going concem basis of accounts'ng in preparing the finanaal Stalemenls. 1.4 Incoma l income is recognised once the Company has enliuemenl lo the income, il is probable that the income will be received and the arnoLFnt of income receivable be rneasUd reliably. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated ((em have been mel, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be rneasured reliably. In accordan wth the Charities SORP IFRS 1021, the general volunteer lirne of the Friends of Sl Catherine's is not recognised and refer lo the Gov&mors' port for more infomialion about their conlribuliLN). On receipt, donated PTofession81 setvices and donated facilities are recognised on the basis of the value ol the gift to the company whlch Is the amount the company would have been willing to pay lo obtain services or facilities of equivalent economic benefit on the open market., a corresponding amount Is then recognised in expenditur8 in th8 period of receipt. Page 20
ST CATHERINE'S SCHOOL TWICKENHAM IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontinuedl 1.5 Expendlture Expenditure is recognised once there is a legal or conslruclive obligatlon to transfer econornic benofil lo a third paty. il Is Probable that a transfer of economic benefits will be required in sewement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aclivty are made up of the total of direct costs and shargd costs, including 8UPPOrt costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly lo that activty. Shared costs which contribute to more than one activity and support costs which are not attributsble to a single activity are apportioned beeen those activities on a basi8 consistent with the use of resources. Central staff costs are allocated on the basis of tlme spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on raising lunds indudes all expenditure incurred by the Company lo raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable actswties 18 Incurred on directly undertaking the acttmties which further the Companls objectiV88. as well as any associated suprK)rt costs. Support costs are those costs incurred directly Sn support of expenditure on the objocts of the Company. Costs of generating funds are costs incurred in attracting voluntsry income, and those incurred in trading activities that raise funds. Charitable activities and Governance c051s are costs incurred on the Company's educational operations. including 5UPPOrt costs and costs relating to the govomance of the company apportioned to charitable activities. 1.6 Redundancy and temilnatlon payments Redundancy and tem7ination payments are recognlsed when there Is a demonstrable commitment on an individual or group basis that cannot be realistically withdrawn. 1.7 Interest recetvable Interest on funds held on d8tx)slt 18 Included when re1vable and the amount can be measured reliably by the Company,. this is nomially upon nolificalion of the interest pald or payable by the institution with whom the funds are deposited. 1.8 Tangible fixed assets and depreciation A review for impaimient of a fixed as8el 18 carried out if events or changes in circumstances indicate that the carrwng value of any fix8d asset may not be recoverable. Shortfalls beN¥een the carying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of finandal activities incorporating income and expenditure account. Tangible fixed assets are carried al cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less IheSr eslimaled residual value. over their expected useful lives on the following bases.. Page 21
ST CATHERINE'S SCHOOL TWICKENHAM {A company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles Icontlnuedl 1.8 Tangible fixed assets and depreciation (continued) Freehold propety Motor vehicles Fixiures and fittings 2%-10% on cost 20°h on cost 20%-33.3Yo on cost Depreciation is charged as from the year that the assets are brought into use. 1.9 Debtors Fee and other debtors are recognised at Ihe settlement amount after any discount offered. Prepayments are valued al the amount prepaid net of any diswunts due. 1.10Cash at bank and In hand Cash at bank and in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.11 Llabllltles and provlslon$ Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognlsed al the amount that the company antiapales il will pay to settle the debt or the amount il has received as advanced payments for the goods or services il must provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted 8t the pre lax discount rate that reflects the risks specific to the liability. The unwirKling of the discount is recognised within interest p8y8blg and similar charges. Liabilitles are recognised at the amount that the Company anticipat&s il will pay to settle the debt or the amount it has received as advanced p8ym8nts for the goods or seNices it must provide. Provisions are measured at the best estimate of the arllounts required to settle the obligation. Where the effect of the time value of rnoney is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 1.12 Flnanclal Instruments The Company only has financi81 assets and financi81 Ilabllilies of a kind that qualify as basic financial instruments. Basic finanaal instruments are Inltially recognised al transaction value and subsequently measured at their settlement value with the oxceplion of bank loans which are subsequently measured al amortised cost using the effective interest method. 1.13 Opgratlng leasos Rentals paid under operating leases are charged to the Ststement of financial advttSes on a straight line basis over the lease term. Page 22
ST CATHERINE'S SCHOOL TWICKENHAM (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontinuedl 1.14 Penslons The company participates in a defined contribution pension scheme for the non teaching staff and the pension charge represents the amounts payabl8 by the company to the fund in resped of the year. For Infomiation on the Teachers, Pension Scheme. please see note 24. 1.15 Fund accounting General hjnds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the company and whlch have not L*en designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Governors for particular purposes. The airn and use of each designated fund is sel out in the notes lo the financial stalemenls. Critlcal accountlng estlmates and areas of ludgmgnt Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations Of future events that are believed to be reasonable under the circumstances. Critical accounting eslimales and assumptions: The charity makes estimates and assumptions concerning the futur8. Th8 resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. li) Recoverability of receivables If ngcessary, Ihg charity estsblishes a provision for receivables that are estimated not to be recoverable. When assessing the recoverability the govemors consider factors such as aging of receivables. past experience of recoverability. and the credit profile of an individual or groups of customers. 011 Detemilnlng resldual value and useful economic lives of propety, plant and equipment The charity depreciates tangible assets over their estimated useful lives. The 8sfjmallon of the useful lives of assets is based on historic perfomiance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programme5. Crhlcal areas of ludgmenl: (il Assessing indicators of impairment In assessing whether there have been any indicators of impairrnent of assets. th8 govemors have considered both external and internal sources of infomialion such as market conditions. counterparty credit ratings and experience of recover8bility. There have been no indicators of impairment identified during the current financial year. Page 23
ST CATHERINE'S SCHOOL TWICKENHAM (A cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from charltsble activIe8 Unre$trl¢ted funds 2025 Total funds 2025 Total funds 2024 Tuition fees Sd)ool actiwties Other income 6,429,254 740,738 19.270 8,429,254 740,738 19.270 6,464,739 742,419 18,074 7,189,262 7,189,262 7.225,232 Analysis of tuition fees 2025 2024 Gross fees Discounts and staff allowances Scholarships Bursari8S 7,132,599 T.091,055 182,734) (94.816) 1310,0821 (245, 138) 1310.5291 (286,362) 6.429.254 6.464.739 Analysls of school actlvltle5 Income 2025 2024 After school club Breakfast club Visits and trips Examination fees Registration fees Fee deposits surrendered Catering income 16,213 5,378 299,442 34,895 15,975 986 367,849 12,551 4.627 256, 155 35,623 18, 187 46,610 368,666 740.738 742,419 Page 24
ST CATHERINE'S SCHOOL TWICKENHAM (A rnpanY limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of school activities Income {contlnued) The avewe number of pupils in each category and the lermly fees charged dur¢ng the year were as follows= 2025 No. 2025 2024 No. 2024 Senior School 331 6.263 5.171 325 73 5,970 4,930 4,670 Junior SchLX)I E8Y Years Total 388 404 Lettlngs Income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Lettings income 125,045 125,045 99,022 Investment income Unrgstrlctod funds 2025 Total funds 2025 rot81 funds 2024 Interest receivable 166.086 166,086 147, 122 Page 25
ST CATHERINE'S SCHOOL TWICKENHAM {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Expendlture on ralslng funds Costs of raising voluntary Income Unrestrlcted funds 2025 Totsl fund$ 2025 Total funds 2024 Bank interest and rale cap premium 141,814 141.814 173.166 Analysls of expendlture on charltsble activities Summary by fund type Unrestricted fund5 2025 Total funds 2025 Total funds 2024 Tuition fees School activities 6,712.329 752.135 6,712.329 752.135 6.558,933 T10.336 7,464,464 7,464,464 7,269,269 Page 26
ST CATHERINE'S SCHOOL TWICKENHAM {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analys1$ of oxpendlture by actlvltles Activities undertakon dlrectly 2025 Support cost5 2025 Total funds 2025 rotal funds 2024 Tuition fees School activities 4,986,782 752.135 1,725.547 6.712.329 752,135 6,558,933 770.336 5,738,917 1.725,547 7.464.464 7.269,269 Tot812024 5,639, TT5 1.629,494 7,269,269 Page 27
ST CATHERINE'S SCHOOL TWICKENHAM IA company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expendlture by actlvltie$ {contlnued) Analysls of dlrect costs School operatlons 2025 School activities 2025 Total funds 2025 Total fvnds 2024 After school club Breakfast club Catering expenditure Visits and trips Exam fees Repairs and maintersance Rent and rates Utilities Insurance Advertising Books & other academic resource8 Office expenses Training & subs Bank and credit card charges Staff costs Depreciation 2,931 82 2.931 82 412,802 302,206 34,114 347,800 171,301 155,670 44.811 2.427 407,359 267, 118 33,263 455.526 37,g18 214, t54 74,357 390 193,840 22,144 23,736 20,731 3,543,476 343, 167 412,802 302,206 34.114 347,800 171.301 155,670 44,811 149,384 27.548 15,310 33,701 3,672.721 367,687 149.384 27,548 15,310 33,701 3.672,721 367,687 4,986.782 752,135 5.738.917 5.639, 775 Tolal 2024 4,929.439 710,336 5.639, T75 Page 28
ST CATHERINE'S SCHOOL TWICKENHAM (A company limlted by guarant•o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysls of expendlture by actlvltles l¢ontlnued) Analysis of support costs School tultlon 2025 Total funds 2025 Tot81 funds 2024 Motor expenses Advertising Debt collection wsts Computer costs Office expenses Telephone Tr8inSng and subscrtplSons VAT pre registration recovery Staff costs Govemance costs 6,991 6.991 162,143 162.143 17,214 17,214 142,916 142.916 99,267 99,267 12.811 12,811 31.394 31,394 1123,6641 1123,664) 1,307,807 1.307,807 68,668 68,668 7,855 98,986 6,336 97.389 120, 754 17,250 10.322 1, 188,077 82,585 1.725,547 1.725,547 1.629,494 Total 2024 1,629,494 1,629.494 Analysis of governance costs School tultion Total funds 2025 2025 Tol81 funds 2024 Audilols remuneration Professional fees 20,284 43,341 5.043 20,284 43,341 5,043 21.853 40.049 20.683 Legal fees 68,668 68,668 82,585 Page 29
ST CATHERINE'S SCHOOL TMCKENHAM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Audltors. remuneTatlon 2025 2024 Fees payable to the Companls auditor for th8 audit of the CompanWs annual accounts 12,736 14,418 Fees payable to the Companls audltor in respect of.. All non-audil services not induded above 5.231 5,922 10. Staff costs 2025 2024 Wages and salaries Social security costs Contriiwtion to defined cDnlribution pension schemes Operating costs of defined benefit pension schemes 3,805.629 418.082 233,581 523,236 3,664,047 368,305 124,412 574,729 4,980,528 4,731.493 During the year the Company made 8 lolal of £14.03012024 £12,600) in redundancy payments and £Nil 12024 = £Nil} in ex-gralia payments. No balances were outstsnding relating to these al the balance sheet date. The average number of persons employed by the Company during the year was as follows= 2025 2024 No. Teaching Non-leaching 55 39 56 41 94 97 Page 30
ST CATHERINE'S SCHOOL TWICKENHAM {A company limitod by guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Staff costs (contlnuedl The number of employees whos8 employee benefits (excluding ernployer pension coslsl exceeded £60,000 was.. 2025 No. 2024 In the band £60,001- £70,000 In the band £70.001 - £80,000 In the band £80,001- £90,000 In the band £90,001- £100,000 In the band £100.001 - £110.000 In the band £1 to,001 - £120.000 In the band £120,001- £150,000 In the band £150,001- £180.000 14 14 The aggregate remuneration of key management personnel is £782,323 {2024.. £753.6991- 11. Trustgos. remuneratlon and expensgs During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 August 2025. no Trustee expenses have been incurred f2024- £NIL). As itemised above, none of the governors recewed any private benefit from the Charity. In particular no govemor or person connected with a govemor received any benefits from means tested bursaries awarded lo pupils. 12. Taxation As 8 charity, Sl Catherine's School Twickenham is exempt from tax on income and gains falling wfchln sedon 505 of the Taxes Act 1988 or 8256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects. No tax Charges have arisen in th8 Charlty. 13. Tangible fixed assets Freehold property Motor Fixtures and vehlcles fittings Total Cost or valuatlon Al 1 September 2024 Additions 12,046,346 266,580 30,412 1,278,676 13,355,434 43,178 309,758 Al 31 August 2025 12,312,926 30,412 1,321,854 13,665,192 Page 31
ST CATHERINE'S SCHOOL TWICKENHAM IA company limited by guarant80) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. Tanglble fixed assets {contlnuedl Freehold property Motor Fixtures and vehicle$ f195 Total Depreclatlon At 1 September 2024 Charge for the year 3.884.139 264.481 30,412 1,138.594 91,898 5,053,145 356,379 At 31 August 2025 4,148,620 30,412 1.230.492 5,409,524 Net book value At 31 August 2025 8.164.308 91,362 8.255.668 At 31 August 2024 8.162,207 140,082 8.302,289 The Freehold Land & Buildings have been separated in their component parts on completion of the building works and the useful lives reviewed and amended. The depreciation has been charged on the basis of the revised useful lives. 14. Debtors 2025 2024 Due wlthln ong year Fee debtors 1.930,706 9,326 110,548 1,658.429 Other debtors Prepayments and accrued Incom8 120,976 2,050.580 1, 779,405 Page 32
ST CATHERINE'S SCHOOL TWICKENHAM {A company Ilmlted by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Creditors: Arnounts falling due wlth5n one year 2025 2024 Bank loans Pupil deposits and fees In advance for Autumn term Accounts payable Other taxation and social security Other creditors Accrua15 68.785 2,694,318 371.686 346.894 152,045 211.229 63,087 2,847.830 321,368 97,322 126,954 102. 773 3.844,957 3,559,334 Pupil deposits and fees in thance for Aumn temi Include the following deferred income.. Deferred incorne 2025 2024 Deferred incLJme brought fard Resources deferred during the year Amounts released from previous years 2.788.330 2.363,386 2.627.568 2.788,330 (2,788,330) (2,363,386J Deferred Income carrled fotward 2,627,568 2,788,330 Page 33
ST CATHERINE'S SCHOOL TWICKENHAM (A mPanY limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 16. Crgdltors: Amounts falllng due after more than one year 2025 2024 Bank loans Pupil deposits and fees in advance 2,103.305 459,681 2,168,683 659,918 2.562,986 2.828,601 The loan of £2,172,090 {2024." £2,231.7701 is securgd over the property and associated assets and the most recent external valuation for secured lending was carried out by propety consultants, with a value of £11.3 million. The interest rate on thls loan is 1.59'h over the lending bank's base rate. Where base rate is below zero. will be deemed lo be zero. The loan repayments are based on a 20 year period. 17. Financlal Instruments 2025 2024 Financial assets mèasured al amortised cost 6,891,473 6,940,433 Finala1 liabilities measured 81 amortised cost 5.876,978 4,990,828 Financial 8SS8ls measured at amortised cost comprise bank balances, trade debtors and other debtors. Financial liabilities measured at amortised cost comprise bank loans. trade creditors. other creditors. accruals and deposits. Pag& 34
ST CATHERINE'S SCHOOL TWICKENHAM IA panY limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Statement of funds Statement of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Income Expendlture Unrestrlcted funds Designated funds Sisters of Mercy Fund 596,639 596,639 General funds General Funds 8,378,992 7,480,394 {7.606.2791 8,253.107 Total Unrestrlctod funds 8,975,631 7.480,394 {7,606.2791 8.849,746 Statement of funds - prior year 8alence al 1 September 2023 Balance al 31 August 2024 Incom8 Expenditure Unrestrlcted fund$ Deslgnated funds Sisters of Mercy Fund 596,639 596,639 General funds General Funds 8,350.051 T.471,376 (7,442,435) 8.378.992 Totsl Unreslrlcted funds 8,946,690 T,471,376 (7.442.435) 8,975,631 The Sisters of Mercy Fund, which is nsIdered lo be a Designatsd fund. was established lo make a pemianent record of the gift and to distinguish it from funds arising from the School's operations and other sources. Page 35
ST CATHERINE'S SCHOOL TWICKENHAM (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Summary of funds Summary of funds - currgnt year Balan¢9 at I September 2024 Balance at 31 August 2025 Incomè Expendlture Designated funds Generdl funds 596.639 8.378.992 596,639 7,480.394 {7,606,2791 8,253.107 8,975,631 7.480.394 17.606.279) 8,849.746 Summary offunds- prlor ygar Balance al 1 September 2023 881ance al 31 August 2024 Income Expenditure Designated funds General funds 596,639 8.350,051 596,639 7.4T1.376 (7,442,435) 8,378,992 8,946,690 7,471,376 (7,442,435J 8,975,631 20. Analysls of net assets between funds Analysis of net assets batween funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 8.255,668 8,255,668 7,002,021 7,002,021 {4,304.6381 14.304,6381 {2,103,3051 (2.103.305) Totsl 8.849,746 8,849,746 Page 36
ST CATHERINE'S SCHOOL TWICKENHAM IA company limited by guarant8•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. Analy$l$ of net assels l)etween fund5 Icontinuedl Analysis ol nat a$s•ts botwéen funds. prior year UnrestriGted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wthin one year Creditors due in more than one year 8,302,289 8,302,289 7,061,277 7,061.277 (3,559,334) (3.55g,334) (2,828,601) (2,828,601) Totsl 8,975,631 8.975.631 21. Reconcillatlon of net movement In funds to net cash flow from operatlng actlvltles 2025 2024 Net incDmelexpendilure for the year las per Statement of Financial Aclivitiesl 1125.885} 28,941 Adjustments for: Depreciation charges Dividends, interests and nts from investments Decreasellincrease} in debtors Increase in creditors 356.379 343.167 {166.0861 (147, 122) {271.1751 146,080 79,688 929,932 Net cash provided byllused inl operating activltlgs {127.0791 1,300,998 22. Analy$l$ of cash and cash equlvalents 2025 2024 Cash In hand 4.951,441 5,281,872 Totsl cash and cash equlvalen18 4.951.441 5.281,872 Page 37
ST CATHERINE'S SCHOOL TWICKENHAM IA company Ilmllad by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 23. Analysls of Changes in net debt September At31 2024 Cash flows August 2025 Cash at bank and in hand Debt due within 1 year Debt dLJe after 1 year 5,281.872 163.0871 {2.168.6831 1330,431) 4,951,441 15,6981 {68,7851 65.378 12,103,305) 3,050,102 {270,7511 2.779.351 Pension commltments Teachers. Pension S¢hem8 The School participates in the Teachers, Pension Scheme I'the TPS'I for some of ils teaching staff. The pension charge for the year includes contributions payabl8 lo the TPS of £523.23612024= £574,729) and al the year end £54,553 (2024= £72.7371 was accrued in respect of contributions to this scheme. The TPS Is an unfunded mulli-employer defined benefits pension scheme govemed by The Teachers. Pensions R&gulations 2010 las am8ndedl and The Teachers, Pension Scheme Regulations 2014 las arnendedl. Members contribute on a 'pay as you go. basis with contributions from membgrs and the employer being credited lo the Exchequer. Rellrement and other p8nslon benefits ore paid by public lunds provided by Parliament. The employer contribution rate is sel by the Secretary of Slate following scherne valuations undertaken by the Govemmenl Actuary's Dapartmenl. The most recent actuarial valuation of the TPS was prepared as al 31 March 2020 and the Valuation Report was published in Ortober 2023. The Valuabon Report shows notional assets of £222.2bn and liabiltties of £262bn, resulting in a scheme deficit of £39.8bn. The employer contribution rale for the TPS is 28.6%, and employers are also required to Pay a scheme adminlslration levy of 0.080A giving a total employer contribution rale of 28.68%. Following a staff eonsultstion that concluded in February 2024, th8 employer contribution rate was capped under a negotiated arrangement. Under this arrangement, staff in the TPS wll fund any future adtjilional TPS contributions through a salary Sacrifi scheme Defined Contribution Penslon Schemes Retirement benefits for some leaching and all non teaching stsff are provided by contributions from the employer and employees to def1ned contribution schemes. The charge for the year ended 31 August 2025 15 £233,581 12024.. £124,412) and at year end £29.565 12024.. £25,084> was accrued in respect of contributions to these schemes. Page 38
ST CATHERINE'S SCHOOL TWICKENHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 25. Op8rating 1ga$g commilmgnts Al 31 August 2025 the Charity h1 commitments to make future minirnum lease payments under non- cancellable operating leases as follows.. 2025 2024 Not later than 1 year Later than 1 year and nol18ter than 5 years 77.243 102.886 56,499 126,225 180.129 182,724 26. Related party transactions During the year. the Company prowded a total (rf £47.42012024 - £58,488) in discounts on tuition fees for the children of stsff members. There were no other related party transactions in the year. nor are there any outstanding balances owing tween related parties and the Company al 31 August 2025. Page 39