REGISTERED COMPANY NUMBER: 02736338 (England and Wales)
REGISTERED CHARITY NUMBER: 1018815
Trustees' Report and
Audited Financial Statements for the Year Ended 31 August 2025
for
Glebe House School Trust Limited
(A Company Limited by Guarantee)
Stephenson Smart (East Anglia) Limited
Chartered accountants & statutory auditor
22-26 King Street
King's Lynn
Norfolk
PE30 1HJ
Glebe House School Trust Limited
Contents of the Financial Statements for the Year Ended 31 August 2025
|
Page |
Reference and Administrative Details |
1 |
Trustees' Report |
2 |
Report of the Independent Auditors |
10 |
Statement of Financial Activities |
14 |
Balance Sheet |
15 |
Cash Flow Statement |
16 |
Notes to the Cash Flow Statement |
17 |
Notes to the Financial Statements |
18 |
Detailed Statement of Financial Activities |
37 |
Glebe House School Trust Limited
Reference and Administrative Details
for the Year Ended 31 August 2025
Trustees |
Mrs R Caldicott (resigned 10.9.2024) |
|
Mr R A Desborough |
|
Mrs J N G Hammond |
|
Mr P J Haslam (resigned 10.9.2024) |
|
Mrs L Hawkins (resigned 26.8.2025) |
|
Mrs S J Mace (appointed 17.3.2025) |
|
Mrs L Neidle (resigned 28.11.2024) |
|
Mrs D Perry (resigned 10.9.2024) |
|
Mrs E J Saunders (resigned 3.12.2024) |
|
Mrs H E Searle (appointed 10.9.2024) |
|
Mrs K J Shelton-Innes |
|
Mr J J Shuardson-Hipkin (resigned 29.11.2024) |
|
Mrs A M Skipper (appointed 17.3.2025) (resigned 7.11.2025) |
|
Mr E J Snaith |
|
Ms C P Stewart (resigned 21.3.2025) |
Registered office |
2 Cromer Road |
|
Hunstanton |
|
Norfolk |
|
PE36 6HW |
Registered company number |
02736338 (England and Wales) |
Registered charity number |
1018815 |
Auditors |
Stephenson Smart (East Anglia) Limited |
|
Chartered accountants & statutory auditor |
|
22-26 King Street |
|
King's Lynn |
|
Norfolk |
|
PE30 1HJ |
1
Glebe House School Trust Limited
Trustees' Report
for the Year Ended 31 August 2025
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31August2025.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
Trusteesin postare Governorsof the school.The chairmanandsecretaryare the nominatedtrusteesof Glebe House
School Trust Limited for the purposes of complying with the Charities Act.
A quorumof notless thanfive memberspersonallypresentmust be achievedbeforeanybusinessmay be transacted
at any General meeting.
On a day-to-day basis the Trustees delegate management of the charity to the Head, Mr A Stewart.
Website
www.glebehouseschool.co.uk
2
Glebe House School Trust Limited
Trustees' Report for the Year Ended 31 August 2025
Objectives and activities
Objectives and aims
InaccordancewithitsMemorandumofAssociationtheschoolisamixeddayandweeklyboardingschoolwith the
object of educating its pupils to a high standard so enabling them to move to the senior school of their choice.
The schoolprovidesan all roundeducationfor all gendersfrom 6 monthsto 13 years of age. The Trust aims to give all
thechildrenastable,stimulating,safe,moralandfamilyorientatedenvironment,inwhichtheycandevelop skills
required to succeed in the 21st century.
The School undertakes to:
- Promotehighstandardsof achievementensuringthatall childrenare workingto the best of theirabilityat all times
in an atmosphere which is amicable and happy.
- Nurture any talent and encourage achievement in academic work, in sport, in art, in music or drama.
- Develop confident, self disciplined and enquiring learners, able to make informed choices.
- Develop commitment to personal and team goals.
- Cultivate pupils who are courteous, well mannered, independent and sociable.
- Develop pupils who are able to communicate effectively.
- Foster confident young people who possess a developing self esteem and thorough work ethic.
- Foster friendly and informal relationships within a structured and disciplined routine.
-Advanceapastoralcaresystemwhichinculcatesthevaluesofcareandconsiderationforothers,responsibility for
environment and which promotes equality.
- Prepare childrenfor Common Entrance,Scholarshipand other curriculumassessments and for the challengeof life in
their senior school and beyond.
- Ensure equal opportunities in relation to gender, race, class, special needs and belief.
- Provide a safe and happy work place.
Theschoolwelcomeschildrenfromallfaiths(andnone)andthroughtheAssemblyandReligious Education
programmes strongly supports the understanding of different cultures, in sympathy with British Values.
Theschoolencouragesthetraditionalvaluesofcourtesy,considerationforothers,selfdisciplineandadesire to
contributeto society.The schoolis committedto harnessingthebestof moderneducationalpractice.The success of
thisapproachcanbeseeninthescholarshipsourpupilshavewontoleadingindependentschoolsthroughout the
country.
Music,sportanddramaareasignificantpartofachild'slifeattheschool.Pupilsareencouragedtoparticipate, to
show commitment and to try different things. Many excel; we aim to give all the opportunity to enjoy themselves.
3
Glebe House School Trust Limited
Trustees' Report
for the Year Ended 31 August 2025
Public benefit and community access
Theschoolseekstoplayapartinthelifeofthelocalcommunityparticipatinginmanylocalcivicactivities and
competingineventswithotherlocalschools.Aspartoftheschoolscommitmenttothelocalcommunityit provides
access to education not just to those that can afford to pay the full fees.
The schoolhas a programmeof bursaries,scholarshipand teachinglinkswith localschoolsand runs sports academies
opentothewidercommunity.TheTrusteesbelievethatbydoingthistheyprovidejustregardtothe Charities
Commissions public benefit guidance.
Bursary policy and application
The Governorsview bursaryawards as importantin helpingchildrenfrom families that would otherwisenot be able to
affordthefeestobenefitfromtheeducationprovidedbytheschool.Theschooldoesnothavespecific entry
requirementsandbursariesare awardedon the basisof parentalmeansor to relievehardshipas a resultof changed
circumstancesoffamiliesofexistingpupils.Bursariesaregenerallyawardedforbetween20%and50%ofthe fees.
Our policy is designed to widen access to our school.
Theschoolseekstoensurethatthoseprovidedwithabursaryintheschoolareabletoobtainsimilarsupport from
their secondary education provider.
Scholarships
Scholarships are awarded for outstanding potential in sport or general academic ability.
Theschool'sscholarshippolicydemonstratesthatscholarshipsaretheretoprovideadditionalsupport and
opportunities for the most able, as opposed to providing financial support.
Family discounts policy
To underlinethe value we place in continuityfor families,we offer discountswhere parentshave more thanone child
at the school.
Assistance for our teaching staff
As part of our emphasison attractingand retaininghigh calibreteachingstaff, we offer a discountscheme where staff
members choose to educate their children at the school.
Teaching links
The schooloffersaccessto its specialistteachingskillsandfacilitiesto otherlocalstatefundedschools.Children from
thoseschoolsareencouragedtoattendlessonswithourpupilsandjoininthelifeoftheschoolwhere these
arrangements can be made.
Summer camps
Theschoolrunssummercampsandalsohirestheschoolouttootherproviderswhogivevaluefor money
opportunities for extended care during school holidays.
The school gives use of its swimming facilities to local schools with no charge.
The schoolalso has an agreementwith a local charity,The HunstantonMens' Shed, who is given space and safe access
to an area in the school to run charitable activities that support the community.
Throughthese initiatives,the trusteeshave compliedwith the duty in section17 of the CharitiesAct 2011 to have due
regardtopublicbenefitguidancepublishedbytheCharityCommissionandinparticulartoitssupplementary public
benefitguidanceonadvancingeducationandfee-charging.Thetrusteesconsiderthattheyhavemetthe public
benefit requirements of the Act.
4
Glebe House School Trust Limited
Trustees' Report for the Year Ended 31 August 2025
Strategic report
Achievements and performance
Charitable activities
The schoolhas continuedto builduponits reputationfor educatingits pupilsto a highstandard,whilstalso providing
them with a full and rounded education through a programme of extra-curricular activities.
Academic achievements
Theacademicprogressofallthechildrencontinuestobeastrengthoftheschool.Childrenofallabilities make
consistent progress. Children leaving from Division VIII all gained a place at their chosen school.
SEND
Good systems are in place to assist children with special educational needs and differences.
Music achievements
Theyearhasincludeda fullprogrammeofinformalconcertsforallchildrenwholearninstrumentsorhaving singing
lessonsaswellasamusiccompetitions,andinthesummertermweholdtheHouseShowwhichincludesall Prep
school children.
Drama achievements
Considerableworkoutsidethe classroomgoes intoproducingplaysthroughoutthe school.A fullprogrammeof plays
and activities continue throughout the year.
Other extracurricular activities
Theschooloffersawiderangeofotheractivitiesincludingorganisedvisitsandtripstoevents,museumsand cities
throughout the country and abroad.
Governors are satisfied that the school was achieving its stated objectives throughout the year in question.
Financial review
Funds
The Governors regularly review the level of reserves needed to meet the charities needs effectively.
Restrictedfunds,representingtheapplicationofspecificfundstowardsspecificprojectsproducedadeficitfor the
yearof£23,797(2024:adeficitfortheyearof£6,719).ThedeficitisattributabletotheNCC&Community Funding
which is deemed restricted.
Theunrestrictedfunds,representingtheschoolstrading,producedasurplusfortheyearof£58,576(2024:a deficit
fortheyearof£166,548).TheGovernorsrecognisetheimportanceofsustainableprofitsandhaveproduced a
comprehensivebusinessplandetailinghowtheTrustassessthecurrentsituationandhowgrowthcanoccur moving
forward.
TheGovernorshavereviewedthelevelofreserves,definedasfundswhichareunrestrictedandnotdesignated and
whicharenotrepresentedbytangiblefixedassetsforcharitableuse,onthebalancesheetasat31August2025 of
£565,465deficit(2024:£578,775deficit)as disclosedintheattachedaccountsandcontinuetotakeactionto ensure
the school can continue to meet its stated objectives.
Detailedbusinessplanforecastingandsupportfromthe Governorsremainsin place,allowingthe Trusteesto believe
that there is an ongoing viability of the school.
Reserves policy
TheGovernorsreservespolicyistomaintainapositivebalanceonthereservesbyactivelymanagingthe schools
finances and thus ensure that its activities are sustainable.
5
Glebe House School Trust Limited
Trustees' Report for the Year Ended 31 August 2025
Strategic report Financial review
Going concern
Creditcontrolwithinthecharityhascontinuedtoimproveduringtheyear.TheTrusthasmaintainedall loan
covenants during the year under review within these financial statements.
Thefinancialstatementsdonotincludetheadjustmentsthatwouldresultifthecharitywasunfittocontinueas a
going concern; the financial statements have been prepared on a going concern basis.
Significant events affecting the financial performance and position
ThemostsignificanteventsaffectingtheTrustduringtheyearwastheincreaseinstaffwages,increasein National
Insurance contributions and the Trust becoming VAT registered from 1 January 2025.
The higherNationalInsurancerates are particularlyimpactfulin a schoolenvironmentwhere wages form the majority
ofexpenditure.Atthesametime,VATregistrationmeanstheschoolmustnowchargeVATonfeesand certain
services,increasingcostsforparentsandpotentiallyaffectingenrolmentandturnover.Althoughtheschool can
reclaimsomeVATonitsownpurchases,thisrecoveryrarelyoffsetstheincreasedadministrativeburdenand the
added financial strain on families.
However,evenwiththeseeventsoccurring,theTrusthasexperienceda significantturnaroundandis now operating
in surplusdue to increasedconfidencein the school as well as higher nurseryand school fee income. The cost-of-living
crisisandthe Trustnow chargingVAT actuallyhadlittleimpacton studentnumbers,whichrose from 119 at the start
of the year to 120 by the end of the year.
Principal risks and uncertainties
The mainrisksanduncertaintiesfacedby the charityare increasingcostsandreducedrevenuefromdecreasing pupil
numbers.TheGovernorscontinuetoseekadditionalpupilsandareaimingforfullNurserysessionsthroughout the
week,TheyalsocontinuetomakingstructuralchangeswithintheTrusttofullymaximisetheefficienciesof the
existing staff members.
Principal funding sources
The school's principal funding source is its fee income.
Fundraising
The school will fundraiseprimarilyfrom parentsand local attendeesto events run by the school,such as the Christmas
Carol Service, school plays and the Car Boot events held throughout the summer months.
Plans for future periods
WhilsttheGovernorsrecognisethatsmallclasssizesarea benefittotheeducationof thechildren,theyalsoseek to
maintainsufficientnumbersin eachyeargroupto ensurethateachclassis viableandthatthe fees requiredto cover
theschool'scostscanbe maintainedata reasonablelevel.TheGovernorsretaina sharpfocusontherecruitment of
new pupils to the school and the tight control of its cost base.
DemandforplacesintheearlyyearsofthenurseryprovidetheGovernorswithconfidencethatthereare realistic
opportunities to grow the number of pupils in the school in the medium term.
Trustees' Indemnity Insurance
A Trustees' Indemnity Policy is in place. The premium for the year was £540.75 (2024 £525.00).
6
Glebe House School Trust Limited
Trustees' Report
for the Year Ended 31 August 2025
Structure, governance and management
Governing document
Glebe House Schoolwas foundedin 1874 and was incorporatedon 19 November1992 under the CompaniesAct 1985
asGlebeSchoolTrustLimited,aCharitableCompanylimitedbyguaranteewithoutsharecapital.Theguarantees of
membersarelimitedtoacontributionof£1eachintheeventofthecompanybeingwoundup.At31August 2025
therewere7members(2024:13).ThegoverningdocumentofthecharityisitsMemorandumandArticles of
Association.
Recruitment and appointment of new trustees
PotentialGovernorsareidentifiedbymembersoftheBoardandareconsideredagainstspecifications concerning
eligibility,competence,specialistskillsand localavailability.Inductionand trainingis providedfor all Governorsand is
tailored specifically to the individual.
Organisational structure
The Governing body of the school is the Board of Trustees.
ThemembersoftheGoverningBodyarelegallyresponsiblefortheoverallmanagementandfordetermining the
generalpolicyoftheschool.TheGoverningBodymeetsatregularintervalsduringtheyearinordertoensure it
retainseffectivecontrolover the managementand policiesof the school.Much of the preparationfor these meetings
is undertaken in sub committees of the Board which include Finance, Health and Safety and Marketing.
TheschoolisregisteredwithTheDepartmentofEducationasSchoolNumber926/6004.Asrequiredunder current
legislationthe CriminalRecordsBureauandThe Departmentof Educationhave confirmedMrs H Searleas suitable to
be the Chair of the Board and this is shown in the Register of IndependentSchoolsin accordancewith the terms of the
Education(IndependentSchoolStandards)(England)(Amendment)Regulations2004.AlltheschoolGovernors have
been cleared by the Criminal Records Bureau.
ThedaytodaymanagementoftheschoolisdelegatedtotheHeadandhisseniorteam.TheHeadhasa senior
managementteam comprisingof the Bursar,SENCO and Directorof Studieswho meet regularlyto managethe day to
day running of the school.
7
Glebe House School Trust Limited
Trustees' Report for the Year Ended 31 August 2025
Structure, governance and management
Risk management
TheGovernorsareresponsibleforoverseeingtherisksfacedbytheschool.Detailedconsiderationoftherisks is
delegatedtotheseniormanagementoftheschool.Throughtheriskmanagementprocessesestablishedby the
school, the Governors are satisfied that the major risks have been identified and mitigated where possible.
Financialriskssuchasliquidityriskarisesduetoseasonalpaymentsoffeeincome.Schoolfeesarepaidin advance
eitherannually,termlyor monthly,meaningthatthe majorityof incomearises on a termlybasis,whilstcosts arise on
a monthlybasis.Nurseryfees are paidmonthlyin advance.This risk is managedby carefullycontrollingexpenses and,
ifrequired,theuseofshorttermborrowingswhichareusedtomeetdaytodayobligationsasandwhen required.
TheTrustalsodealswithcreditriskbyensuringthattradedebtorsarereviewedregularlyandchasedaccordingly to
ensure debts do not turn bad.
It is recognisedthat the managementof risks can onlyprovidereasonablebut not absoluteassurancethat the impact
of major risks will be adequately mitigated. The key controls used by the school include:
-
formal agendas and minutes for all meetings of the Governors and committees
-
development of terms of reference for all committees
-
comprehensive strategic planning, financial forecasting, budgeting, and management accounting
-
established and identifiable organisational structures and reporting lines
-
comprehensive formal written policies
-
clear authorisation limits and segregation of duties
-
vetting procedures, as required by law, for the protection of the vulnerable.
Statement of trustees' responsibilities
Thetrustees(whoarealsothedirectorsofGlebeHouseSchoolTrustLimitedforthepurposesofcompanylaw) are
responsibleforpreparingtheTrustees'Reportandthefinancialstatementsinaccordancewithapplicablelaw and
UnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice)including Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw, the
trusteeshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law).
Undercompanylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygive a
trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplication of
resources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
8
Glebe House School Trust Limited
Trustees' Report for the Year Ended 31 August 2025
Statement of trustees' responsibilities - continued
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
timethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancial statements
complywith the CompaniesAct 2006. They are also responsiblefor safeguardingthe assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Auditors
Each of the persons who is a trustee at the date of approval of this report confirms that:
· so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
· they have takenall steps thatthey oughtto have takenas a trusteeto make themselvesaware of any relevant audit
information and to establish that the charity's auditor is aware of that information.
Trustees'report,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,asthe company
directors, on 2 December 2025 and signed on the board's behalf by:
Mrs H E Searle - Trustee
9
Report of the Independent Auditors to the Members of
Glebe House School Trust Limited
Opinion
We have auditedthe financialstatementsof Glebe HouseSchoolTrustLimited(the 'charitablecompany')for the year
ended31August2025whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCash Flow
Statementandnotesto the financialstatements,includinga summaryof significantaccountingpolicies.The financial
reportingframeworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdom Accounting
Standards(UnitedKingdomGenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law.
OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the
financialstatementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewith the
ethicalrequirementsthatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC's Ethical
Standard,andwe havefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Material uncertainty related to going concern
Informingouropiniononthefinancialstatements,whichisnotqualifiedinthisrespect,wehaveconsidered the
adequacyofthedisclosuremadewithinnote2tothefinancialstatementsconcerningthecompany'sability to
continueasagoingconcern.Thecharitablecompanymadeanetsurplusof£34,779(2024:netdeficitof £173,267)
duringthe year ended 31 August2025 and,at that date, the charitablecompanyhad net assets of £38,589(2024: net
assets £3,810).
The reserves as definedin the Trustees Reportat 31 August2025 show a currentdeficitof £565,465(2024: £578,775).
Theseconditions,alongwithothermattersexplainedinthefinancialstatements,indicatetheexistenceof a material
uncertaintywhichmay cast significantdoubtaboutthe company'sabilityto continueas a goingconcern.Our opinion
is notmodifiedin respectof thismatter.The financialstatementsdo notincludethe adjustmentsthatwouldresult if
the charitable company was unable to continue as a going concern.
In auditingthe financialstatements,we have concludedthat the trustees' use of the going concernbasis of accounting
inthepreparationofthefinancialstatementsisappropriate.Ourresponsibilitiesandtheresponsibilitiesof the
trustees with respect to going concern are described in the relevant sections of this report.
10
Report of the Independent Auditors to the Members of
Glebe House School Trust Limited
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in
the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesriseto a
materialmisstatementin the financialstatementsthemselves.If, based on the work we have performed,we conclude
thatthereis a materialmisstatementof thisotherinformation,we are requiredto reportthatfact.We have nothing
to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedin the
course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothingto reportin respectof the followingmatterswhere the CompaniesAct 2006 requiresus to report to
you if, in our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsof the
charitablecompanyfor the purposesof companylaw)are responsiblefor the preparationof the financial statements
andforbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue to
fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sability to
continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoing concern
basisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations, or
have no realistic alternative but to do so.
11
Report of the Independent Auditors to the Members of
Glebe House School Trust Limited
Our responsibilities for the audit of the financial statements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.Wedesignprocedures in
linewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespectofirregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussionswithandenquiriesof managementandthosechargedwithgovernancewere heldwitha view to identify
thoselawsandregulationsthatcouldbeexpectedtohavea materialimpactonthefinancialstatements.During the
engagementteambriefingtheoutcomesofthesediscussionsandenquiriesweresharedwiththeteam,aswell as
consideration as to where and how fraud may occur in the entity.
The following laws and regulations were identified as being of significance to the entity:
-ThoselawsandregulationsconsideredtohaveadirecteffectonthefinancialstatementsincludetheUK financial
reporting standards, company law, charity law, taxation and pension legislation and distributable profits legislation.
-Those laws and regulationsfor whichnon-compliancemay be fundamentalto the operatingaspectsof the business
andthereforemayhaveamaterialeffectonthefinancialstatementsincludebutarenotlimitedto;child protection
legislation; health and safety regulations, employment law.
Auditproceduresundertakeninresponsetothepotentialrisksrelatingtoirregularities(whichincludesfraud and
non-compliancewithlawsandregulations)comprisedof:Inquiriesofmanagementandthosecharged with
governanceas to whetherthe entitycomplieswith such laws and regulations;enquirieswith the same concerning any
actualor potentiallitigationor claims;inspectionof relevantlegalcorrespondence;testingthe appropriateof journal
entries; and the performanceof analyticalreview to identifyunexpectedmovement in accountbalanceswhich may be
indicative of fraud.
No instancesof materialnon-compliancewere identified.However,the likelihoodof detectingirregularities, including
fraud,islimitedbytheinherentdifficultyindetectingirregularities,theeffectivenessoftheentity'scontrolsand the
nature,timingand extentof the auditproceduresperformed.Irregularitiesthatresultfrom fraudmightbe inherently
moredifficulttodetectthanthoseirregularitiesthatresultfromerror.Asexplainedabove,thereisan unavoidable
riskthatmaterialmisstatementsmightnotbedetected,eventhoughtheaudithasbeenplannedandperformed in
accordance with the ISAs (UK).
AspartofanauditinaccordancewithISAs(UK),weexerciseprofessionaljudgmentandmaintain professional
scepticism throughout the audit. We also:
·Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudor error,
designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficient and
appropriateto providea basisfor ouropinion.The riskof notdetectinga materialmisstatementresultingfrom fraud
ishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentional omissions,
misrepresentations, or the override of internal control.
·Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthat are
appropriatein the circumstances,but not for the purposeof expressingan opinionon the effectivenessof the internal
control.
12
Report of the Independent Auditors to the Members of
Glebe House School Trust Limited
·Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimates and
related disclosures made by the trustees.
·Concludeontheappropriatenessofthetrustees'useofthegoingconcernbasisofaccountingand,basedon the
auditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmay cast
significantdoubtonthecharity'sabilitytocontinueasagoingconcern.Ifweconcludethatamaterial uncertainty
exists,we are requiredto drawattentionin ourauditor'sreportto the relateddisclosuresin the financial statements
or,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheaudit evidence
obtainedupto thedateof ourauditor'sreport.However,futureeventsorconditionsmaycausethecharityto cease
to continue as a going concern.
·Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,includingthedisclosures, and
whetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachieves fair
presentation.
We communicatewith those chargedwith governanceregarding,among other matters,the plannedscope and timing
oftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatwe identify
during our audit.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.
Use of our report
This reportis made solely to the charitablecompany'smembers, as a body,in accordancewith Chapter3 of Part 16 of
theCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitable company's
membersthosematterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.To the
fullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthe charitable
companyand the charitablecompany'smembers as a body,for our auditwork,for this report,or for the opinions we
have formed.
Mr Christopher Goad FCA BFP (Senior Statutory Auditor)
for and on behalf of Stephenson Smart (East Anglia) Limited
Chartered accountants & statutory auditor
22-26 King Street
King's Lynn
Norfolk
PE30 1HJ
2 December 2025
13
Glebe House School Trust Limited
Statement of Financial Activities for the Year Ended 31 August 2025
Unrestricted
fund
Notes
£
Income and endowments from
Donations and legacies
3
56,720
Charitable activities
6
Sale of goods/services as part of direct
charitable activities
2,423,840
Other trading activities
4
42,278
Investment income
5
37
Total
2,522,875
Expenditure on
Raising funds
7
1,734,684
Charitable activities
8
Support Costs
574,970
Other
171,956
Total
2,481,610
NET INCOME/(EXPENDITURE)
41,265
Transfers between funds
23
17,309
Net movement in funds
58,574
Reconciliation of funds
Total funds brought forward
(291,374)
Total funds carried forward
(232,800) |
Restricted
funds
£
10,001
-
-
-
10,001
16,487
-
-
16,487
(6,486)
(17,309)
(23,795)
295,184
271,389 |
31.8.25
Total
funds
£
66,721
2,423,840
42,278
37
2,532,876
1,751,171
574,970
171,956
2,498,097
34,779
-
34,779
3,810
38,589 |
31.8.24
Total
funds
£
59,266
2,157,693
57,999
56
2,275,014
1,684,034
576,538
187,709
2,448,281
(173,267)
-
(173,267)
177,077
3,810 |
|
|
|
|
The notes form part of these financial statements
14
Glebe House School Trust Limited
Balance Sheet
31 August 2025
Unrestricted
fund
Notes
£
Fixed assets
Tangible assets
15
1,279,932
Current assets
Stocks
16
900
Debtors
17
82,271
Prepayments and accrued income
27,627
Cash at bank and in hand
29,275
140,073
Creditors
Amounts falling due within one year
18
(335,091)
Net current assets
(195,018)
Total assets less current liabilities
1,084,914
Creditors
Amounts falling due after more than one year
19
(947,267)
Accruals and deferred income
22
(370,447)
NET ASSETS
(232,800)
Funds
23
Unrestricted funds
Restricted funds
Total funds |
Restricted
funds
£
271,389
-
-
-
-
-
-
-
271,389
-
-
271,389 |
31.8.25
Total
funds
£
1,551,321
900
82,271
27,627
29,275
140,073
(335,091)
(195,018)
1,356,303
(947,267)
(370,447)
38,589
(232,800)
271,389
38,589 |
31.8.24
Total
funds
£
1,572,883
900
76,405
37,268
26,929
141,502
(366,221)
(224,719)
1,348,164
(1,006,382)
(337,972)
3,810
(291,374)
295,184
3,810 |
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon2December2025 and
were signed on its behalf by:
Mr E J Snaith - Trustee
The notes form part of these financial statements
15
Glebe House School Trust Limited
Cash Flow Statement for the Year Ended 31 August 2025
Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Finance costs paid
Interest paid in financing activities
Interest received
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowings
Interest paid
Net cash used in financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
2
Cash and cash equivalents at the end of
the reporting period
2 |
31.8.25
£
246,496
(100,334)
(8,550)
88,180
37
225,829
(39,620)
19,813
(19,807)
(51,455)
(88,180)
(139,635)
66,387
(48,952)
17,435 |
31.8.24
£
158,744
(112,007)
(15,865)
97,853
56
128,781
(43,910)
-
(43,910)
(45,261)
(97,853)
(143,114)
(58,243)
9,291
(48,952) |
|
|
|
The notes form part of these financial statements
16
Glebe House School Trust Limited
Notes to the Cash Flow Statement for the Year Ended 31 August 2025
1. Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest paid
Finance costs
Interest received
Decrease in debtors
Increase in creditors
Net cash provided by operations
2.
Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents |
31.8.25
£
34,779
41,131
238
100,334
8,550
(37)
3,775
57,726
246,496
31.8.25
£
319
28,956
(11,840)
17,435 |
31.8.24
£
(173,267)
41,547
-
112,007
15,865
(56)
161,832
816
158,744
31.8.24
£
2,111
24,818
(75,881)
(48,952) |
|
|
|
3. Analysis of changes in net debt
|
At 1.9.24 |
Cash flow |
At 31.8.25 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
26,929 |
2,346 |
29,275 |
Bank overdraft |
(75,881) |
64,041 |
(11,840) |
|
(48,952) |
66,387 |
17,435 |
Debt |
|
|
|
Debts falling due within 1 year |
(47,946) |
(1,901) |
(49,847) |
Debts falling due after 1 year |
(999,185) |
53,356 |
(945,829) |
|
(1,047,131) |
51,455 |
(995,676) |
Total |
(1,096,083) |
117,842 |
(978,241) |
The notes form part of these financial statements
17
Glebe House School Trust Limited
Notes to the Financial Statements
for the Year Ended 31 August 2025
1. General information
Thecharityisapublicbenefitentityandaprivatecompanylimitedbyguarantee,registeredinEngland and
WalesandaregisteredcharityinEnglandandWales.Theaddressoftheregisteredofficeis2Cromer Road,
Hunstanton, Norfolk, PE36 6HW.
2. Accounting policies
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity. Figures are
rounded to the nearest whole pound sterling.
Going concern
TheTrusteesassessmentindicatestheexistenceofuncertaintywhichmaycastdoubtoverthe company's
ability to continue as a going concern.
WhilsttheTrusthasmadeprogressandthenecessarystepsinensuringthefutureprofitabilityof the charity,
free reserves remain negative at the balance sheet date.
In prioryears, the Trust has breachedloan covenants,but with the supportof the bank the Trust has managed
to maintain these covenants during the year under review within these financial statements.
The Trustees turnaround plan for the charity to return to positive free reserves is well underway.
The financialstatementsdonotincludetheadjustmentsthatwouldresultif thecharitywas unfitto continue
as a going concern; the financial statements have been prepared on a going concern basis.
Critical accounting judgements and key sources of estimation uncertainty
Thepreparationofthefinancialstatementsrequiresmanagementtomakejudgements,estimates and
assumptionsthataffectthe amountsreported.These estimatesandjudgementsare continuallyreviewed and
arebasedonexperienceandotherfactors,includingexpectationsoffutureeventsthatarebelievedto be
reasonable under the circumstances.
(i) Useful economic lives of tangible assets
Theannualdepreciationchargefortangibleassetsissensitivetochangesintheestimateduseful economic
livesandresidualvaluesof theassets.Theusefuleconomiclivesandresidualvaluesarere-assessed annually.
Theyareamendedwhennecessaryto reflectcurrentestimates,basedontechnologicaladvancements, future
investments,economicutilisationand the physicalconditionof the assets. See note 16 for the carrying amount
of tangible assets and note 2 for the useful economic lives for each class of assets.
(ii) Impairment of trade debtors
18
Glebe House School Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
2. Accounting policies - continued
Critical accounting judgements and key sources of estimation uncertainty
The companymakes an estimateof the recoverablevalue of tradedebtors.When assessingthe impairment of
tradedebtors,managementconsidersfactorsincludingthecurrentcreditrating,theageprofileand the
historicalexperience.See note 18 for the net carryingamountof trade debtorsand the associated impairment
provision.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Tangible fixed assets
Tangibleassetscostinginexcessof£500arecapitalised.Tangibleassetsareinitiallyrecordedatcost, and
subsequentlystatedatcostlessanyaccumulateddepreciationandimpairmentlosses.Anytangible assets
carriedatrevaluedamountsarerecordedatthefairvalueatthedateofrevaluationlessany subsequent
accumulated depreciation and subsequent accumulated impairment losses.
Anincreaseinthecarryingamountofanassetasaresultofarevaluation,isrecognisedinother recognised
gains and losses, unless it reverses a charge for impairmentthat has previouslybeen recognisedas expenditure
withinthestatementoffinancialactivities.Adecreaseinthecarryingamountofanassetasaresult of
revaluation,isrecognisedinotherrecognisedgainsandlosses,excepttowhichitoffsetsany previous
revaluationgain,in whichcase the loss is shownwithinotherrecognisedgainsandlosseson the statement of
financial activities.
Depreciation
Depreciationiscalculatedsoastowriteoffthecostorvaluationofanasset,lessitsresidualvalue,over the
useful economic life of that asset as follows:
Freehold property - 50 years straight line
Long leasehold property - over the remaining period of the lease; up to 25 years
Plant and machinery - 15% reducing balance basis
Motor vehicles - 25% reducing balance basis
Computer equipment - 25% reducing balance basis
Impairment of fixed assets
A review for indicatorsof impairmentis carriedout at each reportingdate, with the recoverableamount being
estimatedwheresuchindicatorsexist.Wherethe carryingvalueexceedsthe recoverableamount,the asset is
impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Forthepurposesofimpairmenttesting,whenitisnotpossibletoestimatetherecoverableamountof an
individualasset, an estimateis made of the recoverableamountof the cash-generatingunitto whichthe asset
belongs.Thecash-generatingunitisthesmallestidentifiablegroupofassetsthatincludestheasset and
generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
19
Glebe House School Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
2. Accounting policies - continued
Tangible fixed assets
Forimpairmenttestingofgoodwill,thegoodwillacquiredinabusinesscombinationis,fromthe acquisition
date,allocatedtoeachofthecash-generatingunitsthatareexpectedtobenefitfromthesynergiesof the
combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Hire purchase and leasing commitments
Rentalspaidunderoperatingleases are chargedto the Statementof FinancialActivitieson a straightline basis
over the period of the lease.
Pension costs and other post-retirement benefits
Contributionstodefinedcontributionplansarerecognisedasanexpenseintheperiodinwhichthe related
serviceisprovided.Prepaidcontributionsarerecognisedasanassettotheextentthattheprepayment will
lead to a reduction in future payments or a cash refund.
RetirementbenefitstoteachersatGlebeHouseSchoolTrustLimitedareprovidedbytheTeachers' Pension
Scheme("TPS").Thisisadefinedbenefitschemeandtheassetsareheldseparatelyfromthoseofthe Trust.
TheTPSisanunfundedschemeandcontributionsarecalculatedsoastospreadthecostofpensions over
employees'workingliveswiththe Trustin sucha waythatthe pensioncostis a substantiallylevel percentage
ofcurrentandfuturepensionablepayroll.ThecontributionsaredeterminedbytheGovernmentActuary on
the basis of quadrennialvaluationsusing a prospectiveunit credit method. The TPS is a multi-employer scheme
andthereisinsufficientinformationavailabletousedefinedbenefitaccounting.TheTPSistherefore treated
asadefinedcontributionschemeforaccountingpurposesandthecontributionsrecognisedintheperiod to
which they relate.
Debtors
Debtorsaremeasuredattheirrecoverableamounts;theamountthecharityanticipatesitwillreceivefrom a
debt or the amount it has paid in advance for goods or services.
Creditors
Creditorsare recognisedfor the amountthat the charityanticipatesit will pay to settle the debt or the amount
it has received as an advance payment for goods or services it must provide.
20
Glebe House School Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
2. Accounting policies - continued
Financial instruments
Afinancialassetorafinancialliabilityisrecognisedonlywhentheentitybecomesapartytothe contractual
provisions of the instrument.
Basicfinancialinstrumentsareinitiallyrecognisedattheamountreceivableorpayableincludingany related
transactioncosts,unlessthearrangementconstitutesafinancingtransaction,whereitisrecognisedat the
present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Currentassetsandcurrentliabilitiesaresubsequentlymeasuredatthecashorotherconsideration expected
to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Otherfinancialinstrumentsaresubsequentlymeasuredatfairvalue,withanychangesrecognisedinprofit or
loss,withtheexceptionofhedginginstrumentsinadesignatedhedgingrelationship(seehedge accounting
policy).
Financialassets that are measuredat cost or amortisedcost are reviewed for objectiveevidence of impairment
attheendofeachreportingdate.Ifthereisobjectiveevidenceofimpairment,animpairmentloss is
recognisedundertheappropriateheadinginthestatementoffinancialactivitiesinwhichtheinitialgain was
recognised.
Anyreversalsofimpairmentarerecognisedimmediately,totheextentthatthereversaldoesnotresultin a
carryingamountofthefinancialassetthatexceedswhatthecarryingamountwouldhavebeenhad the
impairment not previously been recognised.
Limited by guarantee
Thecompanyis a companylimitedbyguarantee.ThemembersofthecompanyaretheGovernorsnamed on
page1.Theliabilityofeachmember,intheeventofthecompanybeingwoundup,islimitedto£1. The
number of members as at 31 August 2025 was 7 (2024: 13).
3. Donations and legacies
Donations and legacies |
|
|
Donations to the Trust
Gift aid
Earl & Stuart Charitable Trust |
31.8.25
£
56,721
-
10,000
66,721 |
31.8.24
£
44,969
4,297
10,000 |
|
|
59,266 |
21
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
4.
Other trading activities
Fundraising events
Letting and licensing
5.
Investment income
Interest received
6.
Income from charitable activities
Activity
Sale of goods/services as part of direct
Pre-prep school fees
charitable activities
Sale of goods/services as part of direct
Prep school fees
charitable activities
Sale of goods/services as part of direct
Nursery fees
charitable activities
Sale of goods/services as part of direct
Boarding
charitable activities
Sale of goods/services as part of direct
Payments from governments
charitable activities
Sale of goods/services as part of direct
Ancillary trades
charitable activities |
31.8.25
£
1,182
41,096
42,278
31.8.25
£
37
31.8.25
£
228,176
961,025
372,117
11,308
826,970
24,244
2,423,840 |
31.8.24
£
-
57,999
57,999
31.8.24
£
56
31.8.24
£
328,369
778,282
447,009
19,061
553,274
31,698 |
31.8.24
£
-
57,999 |
|
|
|
57,999 |
|
|
2,157,693 |
|
22
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
7. Raising funds
Other trading activities
Staff costs
Hire of plant and machinery
Bad debts
School curriculum & trip costs
Staff training and recruitment
Rent
Rates and water
Light and heat
Depreciation |
31.8.25
£
1,483,116
880
3,712
61,753
7,298
3,986
56,334
92,961
41,131
1,751,171 |
31.8.24
£
1,436,324
1,056
(22,190
64,538
7,535
5,661
28,213
121,350
41,547 |
|
|
1,684,034 |
8. Charitable activities costs
Charitable activities costs |
|
|
Support |
|
costs (see |
|
note 9) |
|
£ |
Support Costs |
574,970 |
9. Support costs
Support costs |
|
|
|
|
|
|
|
Governance |
|
|
Management |
Finance |
costs |
Totals |
|
£ |
£ |
£ |
£ |
Support Costs |
556,994 |
238 |
17,738 |
574,970 |
10. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
|
31.8.25 |
31.8.24 |
|
£ |
£ |
Depreciation - owned assets |
41,131 |
41,547 |
Hire of plant and machinery |
880 |
1,056 |
Deficit on disposal of fixed assets |
238 |
- |
Bank interest payable and other charges |
108,883 |
127,872 |
23
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
11. Auditors' remuneration
|
31.8.25 |
31.8.24 |
|
£ |
£ |
Fees payable for the audit of the financial statements |
12,000 |
11,000 |
|
|
|
Fees payable to the charity's auditor and its associates for other services: |
|
|
Other non-audit services |
2,000 |
1,920 |
|
|
|
Fees payable in respect of the charity's pension scheme: |
|
|
Audit of the pension scheme |
1,040 |
1,200 |
|
|
|
12. Trustees' remuneration and benefits
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2025norforthe year
ended 31 August 2024.
No remunerationor otherbenefitsfrom employmentwith the charityor a relatedentitywere receivedby the
trustees.
Expenses totalling £Nil were reimbursed to Trustees (2024: £Nil).
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31August2025norfortheyear ended
31 August 2024.
13. Staff costs
Wages and salaries
Social security costs
Other pension costs |
31.8.25
£
1,619,212
125,902
115,180
1,860,294 |
31.8.24
£
1,576,804
99,863
111,015 |
|
|
1,787,682 |
The average monthly number of employees during the year was as follows:
Teaching and support staff
Nursery
Domestic
Grounds
Office and administration |
31.8.25
25
39
7
4
5
80 |
31.8.24
22
44
9
3
5
83 |
|
|
|
24
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
13. Staff costs - continued
Thenumberofemployeeswhoseemployeebenefits(excludingemployerpensioncosts)exceeded £60,000
was:
|
|
31.8.25 |
31.8.24 |
£70,001 |
- £80,000 |
- |
1 |
£80,001 |
- £90,000 |
1 |
- |
|
|
1 |
1 |
Key management personnel
Keymanagementpersonnelincludeallpersonsthathaveauthorityandresponsibilityforplanning, directing
andcontrollingtheactivitiesofthecharity.Thetotalcompensationpaidtokeymanagementpersonnel for
services provided to the charity was £155,144 (2024: £143,254).
14. Comparatives for the statement of financial activities
Unrestricted
fund
£
Income and endowments from
Donations and legacies
49,266
Charitable activities
Sale of goods/services as part of direct
charitable activities
2,157,693
Other trading activities
57,999
Investment income
56
Total
2,265,014
Expenditure on
Raising funds
1,667,315
Charitable activities
Support Costs
576,538
Other
187,709
Total
2,431,562
NET INCOME/(EXPENDITURE)
(166,548)
Reconciliation of funds
Total funds brought forward
(124,826) |
Restricted
funds
£
10,000
-
-
-
10,000
16,719
-
-
16,719
(6,719)
301,903 |
Total
funds
£
59,266
2,157,693
57,999
56
2,275,014
1,684,034
576,538
187,709
2,448,281
(173,267)
177,077 |
|
|
|
25
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
14.
Comparatives for the statement of financial activities - continued
Unrestricted
fund
£
Total funds carried forward
(291,374)
15.
Tangible fixed assets
Freehold
property
£
Cost
At 1 September 2024
1,750,496
Additions
34,100
Disposals
(5,965)
At 31 August 2025
1,778,631
Depreciation
At 1 September 2024
224,842
Charge for year
32,590
Eliminated on disposal
-
At 31 August 2025
257,432
Net book value
At 31 August 2025
1,521,199
At 31 August 2024
1,525,654 |
|
Restricted
funds
£
295,184
Long
leasehold
£
90,829
-
-
90,829
90,829
-
-
90,829
-
- |
Total
funds
£
3,810
Plant and
machinery
£
139,193
-
(17,708)
121,485
108,090
3,534
(3,696)
107,928
13,557
31,103 |
Total
funds
£ |
|
|
|
|
3,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
15. Tangible fixed assets - continued
Cost
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation
At 1 September 2024
Charge for year
Eliminated on disposal
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024 |
Fixtures
and
fittings
£
35,746
5,520
(1,840)
39,426
20,041
4,902
(1,766)
23,177
16,249
15,705 |
Motor
vehicles
£
2,000
-
-
2,000
1,579
105
-
1,684
316
421 |
Totals
£
2,018,264
39,620
(25,513)
2,032,371
445,381
41,131
(5,462)
481,050
1,551,321
1,572,883 |
|
|
|
|
Thefreeholdpropertyisprovidedasasecurityonthebankloansdetailedwithincreditorswithanet book
value carrying amount of £1,521,199 (2024: £1,525,654).
Includedwithinfreeholdpropertyis land which is held at deemed cost of £162,500(2024: £162,500),valued at
its historic fair value.
16.
Stocks
Finished goods
17.
Debtors: amounts falling due within one year
Trade debtors
Provision for doubtful debts
VAT |
31.8.25
31.8.24
£
£
900
900
31.8.25
31.8.24
£
£
89,418
162,725
(16,529)
(86,320)
9,382
-
82,271
76,405 |
|
|
27
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
18. Creditors: amounts falling due within one year
Creditors: amounts falling due within one year |
|
|
Bank loans and overdrafts (see note 20)
Other loans (see note 20)
Trade creditors
Social security and other taxes
Pension creditor
Other creditors
Accrued expenses |
31.8.25
£
44,673
17,014
126,811
87,864
16,448
19,514
22,767
335,091 |
31.8.24
£
107,357
16,470
60,643
122,929
16,053
19,879
22,890 |
|
|
366,221 |
Theaggregateliabilityincludedwithincreditorsunderoneyearofwhichsecurityisheldis£40,680 (2024:
£37,947) relating to HSBC UK (previously Metro Bank) and Norwich Diocese.
The BarclaysBank loan due under one year amountingto £9,167 (2024: £10,000)is secured by the government
backed Bounce Back Loan Scheme (BBLS).
TheNorwichDioceseBankloandueunderoneyearamountingto£17,014(2024:£16,470)is securedby way
of a charge over the land adjoining to 2 Cromer Road, Hunstanton, PE36 6HW.
An overdraftfacilityof £100,000is held with HSBC UK of which is secured by way of a charge over the Freehold
Propertyat2CromerRoad,Hunstanton,PE366HW.From18July2025to1September2025,the overdraft
facility was temporarily raised to £230,000, before returning to its standard limit of £100,000.
An overdraftfacilityof £25,000is heldwithBarclaysBankPlcof whichis securedbywayof a chargeover the
Freehold Property at 2 Cromer Road, Hunstanton, PE36 6HW.
19. Creditors: amounts falling due after more than one year
Creditors: amounts falling due after more than one year |
|
|
Bank loans (see note 20)
Other loans (see note 20)
Other creditors |
31.8.25
£
910,099
35,730
1,438
947,267 |
31.8.24
£
946,442
52,743
7,197 |
|
|
1,006,382 |
Theaggregateliabilityincludedwithincreditorsoveroneyearofwhichsecurityisheldis£945,830 (2024:
£990,018) relating to HSBC and Norwich Diocese.
The HSBC Bank loandue over one year amountingto £910,100(2024:£937,275)is securedby way of a charge
over all its assets includingthe FreeholdPropertyat 2 CromerRoad,Hunstanton,PE36 6HW. A debenture was
held over all of its assets and undertaking.
The Norwich Diocese Bank loan due over one year amounting to £35,730 (2024: £52,743)
is secured by way of a charge over the land adjoining to 2 Cromer Road, Hunstanton, PE36 6HW.
TheBarclaysBankloandueoveroneyearamountingto£Nil(2024:£9,167)issecuredbythe government
backed Bounce Back Loan Scheme (BBLS).
28
Glebe House School Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
19. Creditors: amounts falling due after more than one year - continued
TheHSBCloanisrepayableinmonthlyinstalments,withthefinalrepaymentoftheloan,interestand any
otheramountsoutstandingtobemadein2042.Interestontheloanischargedat4.5%perannumover the
Bank's Sterling Base Rate.
The Barclaysbankloanis repayablein monthlyinstalments,withthe finalrepaymentof the loan,interest and
anyotheramountsoutstandingtobemadein2026.Interestontheloanischargedat2.5%perannum with
the first 12 months being interest free.
TheNorwichDioceseloanisrepayableinmonthlyinstalments,withthefinalrepaymentoftheloan, interest
and any other amounts outstanding to be made in 2028. Interest on the loan is charged at 3.25% per annum.
20. Loans
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Norwich Diocese due < 1 year
Amounts falling due between two and five years:
- mortgage
Norwich Diocese due 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal |
31.8.25
£
11,840
32,833
17,014
61,687
121,093
35,730
156,823
789,006 |
31.8.24
£
75,881
31,476
16,470 |
|
|
123,827 |
|
|
119,054
52,743 |
|
|
171,797 |
|
|
827,388 |
29
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
21. Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
In more than five years
Accruals and deferred income
Deferred income b/fwd
Deferred income - released to income
Deferred income - deferred in year |
31.8.25
£
22,314
30,951
2,250
55,515
31.8.25
£
337,972
(337,972)
370,447
370,447 |
31.8.24
£
17,454
16,460
4,500
38,414
31.8.24
£
280,935
(280,935)
337,972
337,972 |
|
|
|
22. Accruals and deferred income
Deferredincomerefersto schoolfees receivedinadvanceforthenextacademicterm,whichbeginsafter the
balance sheet date.
23. Movement in funds
Movement in funds |
|
|
|
|
|
|
Net |
Transfers |
|
|
|
movement |
between |
|
|
At 1.9.24 |
in funds |
funds |
At 31.8.25 |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General Funds |
(291,374) |
41,265 |
17,309 |
(232,800) |
Restricted funds |
|
|
|
|
Restricted Fixed Assets |
279,100 |
(6,486) |
(1,225) |
271,389 |
Restricted Funds |
16,084 |
- |
(16,084) |
- |
|
295,184 |
(6,486) |
(17,309) |
271,389 |
TOTAL FUNDS |
3,810 |
34,779 |
- |
38,589 |
30
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
23. Movement in funds - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General Funds
Restricted funds
Restricted Fixed Assets
Restricted Funds
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General Funds
Restricted funds
Restricted Fixed Assets
Restricted Funds
TOTAL FUNDS |
Incoming
resources
£
2,522,875
1
10,000
10,001
2,532,876
At 1.9.23
£
(124,826)
285,819
16,084
301,903
177,077 |
Resources
expended
£
(2,481,610)
(6,487)
(10,000)
(16,487)
(2,498,097)
Net
movement
in funds
£
(166,548)
(6,719)
-
(6,719)
(173,267) |
Movement
in funds
£
41,265
(6,486)
-
(6,486)
34,779
At 31.8.24
£
(291,374)
279,100
16,084
295,184
3,810 |
|
|
|
|
31
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
23. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General Funds
Restricted funds
Restricted Fixed Assets
Restricted Funds
TOTAL FUNDS |
Incoming
resources
£
2,265,014
-
10,000
10,000
2,275,014 |
Resources
expended
£
(2,431,562)
(6,719)
(10,000)
(16,719)
(2,448,281) |
Movement
in funds
£
(166,548)
(6,719)
-
(6,719)
(173,267) |
|
|
|
|
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
Transfers |
|
|
|
movement |
between |
|
|
At 1.9.23 |
in funds |
funds |
At 31.8.25 |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General Funds |
(124,826) |
(125,283) |
17,309 |
(232,800) |
Restricted funds |
|
|
|
|
Restricted Fixed Assets |
285,819 |
(13,205) |
(1,225) |
271,389 |
Restricted Funds |
16,084 |
- |
(16,084) |
- |
|
301,903 |
(13,205) |
(17,309) |
271,389 |
TOTAL FUNDS |
177,077 |
(138,488) |
- |
38,589 |
32
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
23. Movement in funds - continued
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General Funds
Restricted funds
Restricted Fixed Assets
Restricted Funds
TOTAL FUNDS |
Incoming
resources
£
4,787,889
1
20,000
20,001
4,807,890 |
Resources
expended
£
(4,913,172)
(13,206)
(20,000)
(33,206)
(4,946,378) |
Movement
in funds
£
(125,283)
(13,205)
-
(13,205)
(138,488) |
|
|
|
|
Includedinunrestrictedfundsislandwhichhasbeenrevaluedby£162,500.Thisamountiswithin tangible
fixed assets as seen in note 16.
Restricted fixed asset
The restricted fixed asset fund is comprised of monies donated for the purchase of fixed assets as follows:
PavilionImprovementFund-Toprovidefinancialassistancetoupgradetheexistingschoolpavilion. The
openingbalanceonthefundwas£14,387;Expenditureduringtheyeartotalled£336;Closingfund balance
£14,051.
NurseryPlaygroundFund-Toprovidefinancialassistancetowardsthecostofrefurbishingthenursery rubber
playtopsurface.Theopeningbalanceonthefundwas£4,271;Expenditureduringtheyeartotalled £98;
Closing fund balance £4,173.
ParentsCommitteeEquipment& ActivitiesFund-To providefinancialassistancetowardsadditional resources
and activitiesfor the enjoymentof the pupilsas designatedby the parentscommittee.The openingbalance on
thefundwas£411;theamounttransferredtounrestrictedfundsduringtheyeartotalled£411;Closing fund
balance £Nil.
NorfolkCountyCouncilTwoYearGrant-Toimproveresourcesfor2-year-oldchildrenattendingnursery. The
openingbalanceon the fundwas £815;the amounttransferredto unrestrictedfundsduringthe year totalled
£815; Closing fund balance £Nil.
NorwichDiocese Donationof Property-The value of the donationthat,in the event of the sale of the land and
buildings,wouldrevertbacktotheDiocese.Theopeningbalanceonthefundwas£259,215; Expenditure
during the year totalled £6,052; Closing fund balance £253,163.
Restricted funds
The restricted funds monies arise from gifts for express purposes as specified:
33
Glebe House School Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
23. Movement in funds - continued
Earle&StuartCharitableTrustScholarshipFund-Toprovideascholarship,presentingaproportionof annual
feesforapupilfromtheDockingareaofNorfolk.Theincomeisnotguaranteedandisstrictly renewable
annually.The openingbalanceon the fund was £10,000;Income duringthe year totalled£10,000, expenditure
duringtheyeartotalled£10,000;theamounttransferredtounrestrictedfundsduringtheyear totalled
£10,000; Closing fund balance £Nil.
NorfolkCommunityFoundation-Toprovidefundingtoaidetheimprovementofthenurserygardenand its'
facilities.Theopeningbalanceonthefundwas£820;Expenditureduringtheyeartotalled£Nilon garden
works; the amount transferred to unrestricted funds during the year totalled £820; Closing fund balance £Nil.
Covid-19HardshipFund-Toprovidefundingtocoverstudentsfeesforstrugglingparentsresultingfrom the
Covid-19pandemic.Theopeningbalanceonthefundwas£394;Incomeduringtheyeartotalled £Nil;
Expenditureduringtheyeartotalled£Nil;theamounttransferredtounrestrictedfundsduringthe year
totalled £394; Closing fund balance £Nil.
The Glebe House School Foundation-establishedto raise funds to supportthe long-termfuture of Glebe House
School.Theinitialprogrammewillbetomoveintothethirddecadeofthiscenturyofferingthe opportunity
forallpupilsofabilitytobenefitfromaGlebeHouseSchooleducationandtodevelopfacilitiesthat both
benefitourpupils,butalsooneswhichcanbesharedwiththelocalcommunity.Theopeningbalanceon the
fundwas£4,870;IncomeandExpenditureduringtheyeartotalled£Nil;theamounttransferred to
unrestricted funds during the year totalled £4,870; Closing fund balance £Nil.
Transfers between funds
TheTrustreviewedthebalancesheldwithincertainrestrictedfundsanddeterminedthatthe conditions
attachedtothesefundshadbeensatisfied.Consequently,theremainingunspentamountshave been
transferred to unrestricted funds.
24. Employee benefit obligations
Theamountrecognisedinincomeorexpenditureasanexpenseinrelationtodefinedcontributionplans was
£115,180 (2024: £111,015).
TheschoolparticipatesintheTeacher'sPensionScheme(England&Wales)("theTPS")foritsteaching staff.
ThePensionChargefortheyearincludesemployercontributionspayabletotheTPSof£95,821 (2024:
£93,346).Employeeandemployercontributionsamountingto£13,528werepayabletotheschemeat 31
August2025(2024:£12,284)andare includedwithincreditors.Thisbalancehasbeenpaidin fullshortly after
the balance sheet date.
TheTPSisanunfundedmulti-employerdefinedbenefitsschemegovernedbytheTeachers' Pensions
Regulations2010andfrom1April2014,theTeachersPensionsRegulations2014.Memberscontributeon a
'payasyougo'basiswithcontributionsfrommembersandtheemployerbeingcreditedtothe Exchequer.
Retirement and other pension benefits are paid by public funds provided by Parliament.
TheGovernmentActuary,usingnormalactuarialprinciples,conductsaformalactuarialreviewoftheTPS in
accordancewiththe PublicServicePensions(ValuationsandEmployerCostCap)Directions2014published by
HM Treasury.The aim of the reviewis to specifythe level of futurecontributions.Actuarialscheme valuations
are dependenton assumptionsaboutthe value of futurecosts, designof benefitsand many otherfactors. The
latestactuarialvaluationoftheTPSwascarriedoutasat31March2020.Thekeyelementsofthe valuation
and subsequent consultation are:
34
Glebe House School Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
24. Employee benefit obligations - continued
-Employercontributionratessetat28.6%ofpensionablepay(includinga0.08%employer administration
charge).
-Totalschemeliabilities(pensionscurrentlyinpaymentandtheestimatedcostoffuturebenefits)for service
to the effective date of £262,000million,and notionalassets (estimatedfuture contributionstogetherwith the
notionalinvestmentsheldatthevaluationdate)of£218,100milliongivinganotionalpastservicedeficit of
£39,800 million.
-The SCAPErate,set by HMT, is usedto determinethe notionalinvestmentreturn.The currentSCAPErate is
2.4%, due to fall to 1.7% above the rate of CPI.
ThenextvaluationoftheTPSiswasimplementedfrom1April2024.Itwasconfirmedthat Employer
contribution rates are set at 28.6% of pensionable pay (including a 0.08% employer administration charge).
A copy of the valuation report and supporting documentation is on the Teachers' Pensions website.
Underthe definitionsset outin FRS 102,the TPS is a unfundedmulti-employerpensionscheme.The trust has
accountedfor its contributionsto the scheme as if it were a definedcontributionscheme. The trust has set out
above the information available on the scheme.
25. Related party disclosures
The charity is controlled by the board of Trustees as a whole.
During the year, the aggregate unrestricted donations received from the Trustees totalled £Nil (2024: £Nil).
As at the balance sheet date the Trust owed a Trustee £Nil (2024: £Nil) in loan balances.
Duringthe year, some Trusteesreceivedservices for Schoolingfor theirchildrenof £202,659(2024: £164,634).
AsatthebalancesheetdatetheTrusteesowedtheTrust£2,180(2024:£4,009).Alltransactionshave been
undertaken on normal commercial terms.
No furtherrelatedpartytransactionswere undertakenduringthisor the priorreportingperiodwhich require
disclosure.
26. Financial instruments
The carrying amount for each category of financial instrument is as follows:
The carrying amount for each category of financial instrument is as follows: |
|
|
|
31.8.25 |
31.8.24 |
|
£ |
£ |
Financial assets that are debt instruments measured at amortised cost |
102,163 |
109,862 |
Financial liabilities measured at amortised cost |
1,548,493 |
1,555,509 |
|
|
|
35
Glebe House School Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
27. Charges on assets
Freeholdpropertyheldwithintangiblefixedassetsarepledgedassecurityinrelationtothebankloan as
detailed in notes 19, 20 and 21 to these financial statements.
36
Glebe House School Trust Limited
Detailed Statement of Financial Activities for the Year Ended 31 August 2025
Income and endowments
Donations and legacies
Donations to the Trust
Gift aid
Earl & Stuart Charitable Trust
Other trading activities
Fundraising events
Letting and licensing
Investment income
Interest received
Charitable activities
Pre-prep school fees
Prep school fees
Nursery fees
Boarding
Payments from governments
Ancillary trades
Total incoming resources
Expenditure
Other trading activities
Wages
Social security
Pensions
Hire of plant and machinery
Bad debts
School curriculum & trip costs
Staff training and recruitment
Rent
Rates and water
Carried forward |
31.8.25
£
56,721
-
10,000
66,721
1,182
41,096
42,278
37
228,176
961,025
372,117
11,308
826,970
24,244
2,423,840
2,532,876
1,269,662
102,559
110,895
880
3,712
61,753
7,298
3,986
56,334
1,617,079 |
31.8.24
£
44,969
4,297
10,000
59,266
-
57,999
57,999
56
328,369
778,282
447,009
19,061
553,274
31,698
2,157,693
2,275,014
1,245,955
83,053
107,316
1,056
(22,190)
64,538
7,535
5,661
28,213
1,521,137 |
|
|
|
This page does not form part of the statutory financial statements
37
Glebe House School Trust Limited
Detailed Statement of Financial Activities for the Year Ended 31 August 2025
Other trading activities
Brought forward
Light and heat
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Other
Insurance
Other establishment costs
Motor vehicle expenses
Housekeeping and provisions
Parent committee
Support costs
Management
Wages
Social security
Pensions
Telephone
Office expenses
Staff training and recruitment
Marketing
Computer expenses
Subscriptions, licences & fees
Bank interest
Norwich Diocese loan interest
Other interest charges
Finance
Loss on sale of tangible fixed assets
Governance costs
Auditors' remuneration
Accountancy fees
Legal fees
Other costs |
31.8.25
£
1,617,079
92,961
32,590
3,534
4,902
105
1,751,171
25,618
45,622
31,837
68,879
-
171,956
349,550
23,343
4,285
9,125
15,214
3,306
13,303
9,221
20,763
100,334
2,006
6,544
556,994
238
12,000
2,898
566
2,274
17,738 |
31.8.24
£
1,521,137
121,350
32,204
5,090
4,113
140 |
|
|
1,684,034
25,457
44,026
29,318
78,056
10,852 |
|
|
187,709
330,849
16,810
3,699
8,554
15,701
3,460
27,669
6,113
17,372
112,007
2,532
13,333 |
|
|
558,099
-
11,000
2,483
2,776
2,180 |
|
|
18,439 |
This page does not form part of the statutory financial statements
38
Glebe House School Trust Limited
Detailed Statement of Financial Activities
for the Year Ended 31 August 2025
Total resources expended
Net income/(expenditure) |
31.8.25
£
2,498,097
34,779 |
31.8.24
£
2,448,281
(173,267) |
|
|
|
This page does not form part of the statutory financial statements
39