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← Child Light Limited

2025-07-31-accounts

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

Registered number: 02928829 Charity number: 1039099

CHILD LIGHT LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

CONTENTS
Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 9
Independent auditors' report on the financial statements 10 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 36

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025

Trustees

Mr D E C Alderson Mr T Amies, Chair Revd C M Meakin Revd Dr R McDonald Mrs F Hough Mrs T Anifalaje Dr P Martin

Company registered number

02928829

Charity registered number

1039099

Registered office

17-19 Brookside Cambridge CB2 1JE

Company secretary

Mr J W Fletcher

Chair of the Trustees

Mr T Amies

Independent auditors

Griffin Stone Moscrop & Co Chartered Accountants 21 - 27 Lamb's Conduit Street London WC1N 3GS

Bankers

Lloyds Bank 5 The Square Petersfield Hampshire GU32 3HL

Page 1

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of Child Light Limited (the company) for the year ended 31 July 2025. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Structure, governance and management

a. Constitution

Child Light Limited is a registered charity and was established in 1994. It is a private company limited by guarantee with the company number 02928829.

The company is constituted under a Memorandum of Association and has the registered charity number 1039099.

Day to day management of the charity and its principal activity (Heritage School) is delegated to Mr Jason Fletcher, Headmaster of Heritage School (Chief Executive of the charity).

b. Recruitment, Appointment and Induction of Trustees

Invitations are extended from time to time to suitably qualified and experienced men and women to become Trustees, following consultation with the existing body of Trustees. Newly appointed Trustees are provided with the induction materials, including a copy of the Memorandum of Association. They will have an induction with fellow Trustees and the Chief Executive and will be expected to spend time familiarising themselves with the workings of the charity.

Page 2

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

Day to day management of the operations of the charity, particularly its principal activity Heritage School, is overseen by the Headmaster (Chief Executive).

Within Heritage School there is a Senior Leadership Team consisting of the Headmaster, the Deputy Head, the Bursar, the Head of Infants, the Head of Juniors and the Head of Seniors. This team meets fortnightly to consider operational matters and whole-school policy decisions.

Beneath this Senior Leadership Team, teachers meet in their departments or faculties regularly as required. Head of subject areas holdHeads of subject areas hold meetings as required. Staff meetings involving Infant School and Junior School class teachers are held fortnightly as are staff meetings for Senior School teachers. INSET training occurs four times per year for all staff. All of these meetings provide opportunities for discussion of educational philosophy and methodology and feedback regarding relevant policy and operational matters.

Day-to-day financial oversight is exercised jointly by the Headmaster and the Bursar in relation to the budget approved by Trustees. Budgetary responsibility for specific departments is devolved to heads of subject areas, the Head of Infants or the Head of Juniors. Budgetary responsibility for our enrichment programme is managed by our Head of Enrichment.

Bursaries are awarded by a Bursary Committee, which will always include at least one Trustee. Within overall levels approved by Trustees, the Bursary Committee awards bursaries following a means-tested application process. The Headmaster is not a member of the Bursary Committee.

Trustees have responsibility over all operational and policy decisions taken by the management of the school (and the charity as a whole). Specifically, they routinely consider:

d. Internal Controls and Risk Management

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

Page 3

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Structure, governance and management (continued)

e. Related party relationships

Three of the trustees (Revd C M Meakin, Mrs T Anifalaje and Revd Dr. R McDonald) have between them six (2024 - same) children who attend the school.

The company secretary, who is also the Headmaster, and his wife are employees of the school. The salaries and any benefits to which they are entitled are on terms no more favourable than those of any other employee.

f. Financial risk management

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Objectives and activities

a. Policies and objectives

The objects of the charity as stated in its Memorandum and Articles of Association:

The advancement of education whether secular or religious (including without prejudice to the generality of the foregoing the advancement of the educational principles formulated by Charlotte Mason);

The advancement of the Christian faith as set out in the Statement of Faith appearing in Schedule 2 to these Articles;

Generally the advancement of any educational, religious or other charitable object not inconsistent with the foregoing.

b. Strategies for achieving objectives

The charity pursues the above stated objects by providing advice, advocacy or information, by undertaking research, by acting as an umbrella or resourcing body and by directly delivering services.

Child Light Limited is particularly concerned to advance the approach to education articulated by Charlotte Mason and the PNEU (Parents National Education Union).

The primary strategy used to implement the charity’s objectives is the operation of Heritage School, whose activities are described below.

Page 4

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Objectives and activities (continued)

c. Public Benefit

The activities undertaken in the past by Child Light have always included more than the direct provision of educational services. Child Light has advanced education more broadly through the provision of advice, advocacy or information including publications, undertaking research and acting as an umbrella body. During 2024–25 Child Light offered advice to other educators through its Educator Training Days, through one-to-one consultancy visits by educators to Heritage School, through speaking engagements, by publishing articles and by participating in conferences.

Child Light also continued to serve the wider community by hiring our facilities at a reasonable cost to other educational providers.

In addition, our accessible fee structure is intended to make the work of Child Light as beneficial to as wide a segment of the population as possible.

Page 5

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Strategic report

Achievements and performance

a. Main achievements of the Company

During 2024–25 Heritage School was the principal activity of Child Light Limited. We commenced 2024–25 with 200 pupils, with a single class (or form) in each year group from Reception to Year 11.

Our Leavers in July 2025 received offers at their preferred destinations for post-16 education and training, with Hills Road Sixth Form as the most common. They achieved excellent results, in keeping with the pattern of results over the past 10 years, with 55% of all results being awarded 9-8, 73% of all results being awarded either 9-7, and 84% of all results being awarded 9-6. ‘Added value’ analysis shows that over six years for which we have data, Heritage pupils have achieved, on average, 1.25 grades higher per subject than standardised assessments considered ‘most likely’. This demonstrates Heritage School’s unique ability to help pupils exceed expectations.

During 2023–24, we made the following teacher appointments for a September 2024 start: a Senior History & RS teacher and a Senior English teacher. During the 2024–25 academic year we appointed a Senior Geography teacher.

Recruitment of pupils was strong overall during 2024–25, such that we started 2025–26 with approximately 200 pupils.

In the financial year 2024–25 we have pursued a range of activities within our control to advance Christian education along Charlotte Mason/PNEU lines. These activities have had the successful continued growth of Heritage School as their main purpose. In addition, as noted above, we welcomed numerous visitors to Heritage School who wished to see Charlotte Mason based education in practice, and we shared our vision with others via publishing and networking activity.

There are factors outside of our control that affect our ability to successfully achieve our objectives, particularly pupil recruitment and staff recruitment. An exceptional factor during 2024–25 was the election of a Labour government and the implementation of VAT on independent school fees, together with the loss of business rates relief for charities and an increase in employer national insurance contributions. The impact of higher taxes and wider uncertainties was mitigated through effective marketing of the unique selling points of the school generally, and effective recruitment of new staff, together with a sustained focus on delivering the strongest possible service that leads to positive personal recommendations on the part of those involved with Heritage School.

Page 6

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Strategic report (continued)

Financial review

a. Review

We were able to meet all operational costs from fee income during 2024-2025, and to carry forward cash reserves into 2025–26, as these accounts show.

Fundraising activities were undertaken during 2024–25 by the Heritage Community Association (HCA), which was formed in the summer of 2011. It raised £8,405 during 2024–25 to support the work of the school.

b. Reserves policy

At the end of the 2024–25 financial year, £1,405,649 total funds were held, of which £32,661 were restricted. The trustees seek to build unrestricted reserves equal to 25% of the current year’s total expenditure.

c. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

d. Pay policy for senior staff

Pay and remuneration of the charity's key management personnel are determined in the light of independent school sector norms and the government's statutory guidance on pay and conditions for teachers in England and Wales (see https://www.gov.uk/government/publications/school-teachers-pay-and-conditions). These norms are used to guide the Headmaster's pay, the Deputy Head’s pay, and the value of additional responsibilities undertaken by teaching staff. Pay for school administrators is determined in relation to industry standards. The performance of key management personnel is evaluated by Trustees regularly in the course of their normal duties. Pay is not explicitly linked to performance criteria. Trustees set pay levels for all staff, including key management personnel, when they approve the annual budget.

e. Plans for future periods

In 2025-26 the operation of Heritage School will be the predominant focus of the activities of Child Light Limited. Our main developmental priorities are to:

Page 7

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Members' liability

The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.

Statement of Trustees' responsibilities

The Trustees (who are also the directors 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 (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Griffin Stone Moscrop & Co, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Page 8

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Mr T Amies

Date: 2 March 2026

Page 9

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILD LIGHT LIMITED

Opinion

We have audited the financial statements of Child Light Limited (the 'charitable company') for the year ended 31 July 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 10

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILD LIGHT LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report including the Strategic report.

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

Page 11

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILD LIGHT LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures designed and implemented to detect irregularities, including fraud, are detailed below:

· Enquiry of management and those charged with governance.

· Reviewing financial statement disclosures and testing to supporting documentation to assess compliance.

· Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of activities and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 12

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILD LIGHT LIMITED (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Hill (Senior statutory auditor)

for and on behalf of Griffin Stone Moscrop & Co Chartered Accountants Statutory Auditors 21 - 27 Lamb's Conduit Street London WC1N 3GS

Date: 23/4/2026

Page 13

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2025

Note
Income from:
Donations and legacies
4
Charitable activities
6
Other trading activities
7
Investments
5
Other income
8
Total income
Expenditure on:
Raising funds
9
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
5,742
2,629,637
-
17,647
4,345
2,657,371
-
2,550,432
2,550,432
106,939
1,266,049
106,939
1,372,988		 Restricted
funds
2025
£
27,167
-
9,126
-
-
36,293
5,780
23,275
29,055
7,238
25,423
7,238
32,661		 Total
funds
2025
£
32,909
2,629,637
9,126
17,647
4,345
2,693,664
5,780
2,573,707
2,579,487
114,177
1,291,472
114,177
1,405,649		 Total
funds
2024
£
32,880
2,570,570
8,734
2,249
5,594
2,620,027
5,483
2,500,927
2,506,410
113,617
1,177,855
113,617
1,291,472

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 17 to 36 form part of these financial statements.

Page 14

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee) REGISTERED NUMBER: 02928829

BALANCE SHEET AS AT 31 JULY 2025

2025 2025 2024 2024
Note £ £
Fixed assets
Tangible assets 15 6,568,141 6,638,047
6,568,141 6,638,047
Current assets
Stocks 16 2,659 14,721
Debtors 17 129,216 86,139
Cash at bank and in hand 588,493 719,343
720,368 820,203
Current liabilities
Creditors: amounts falling due within one
year 18 (295,966) (463,816)
Net current assets 424,402 356,387
Total assets less current liabilities 6,992,543 6,994,434
Creditors: amounts falling due after more
than one year 19 (5,586,894) (5,702,962)
Net assets excluding pension asset 1,405,649 1,291,472
Total net assets 1,405,649 1,291,472
Charity funds
Restricted funds 21 32,661 25,423
Unrestricted funds 21 1,372,988 1,266,049
Total funds 1,405,649 1,291,472

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Mr T Amies

Date: 2 March 2026

The notes on pages 17 to 36 form part of these financial statements.

Page 15

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 17 to 36 form part of these financial statements		 2025
£
(26,413)
(6,235)
(6,235)
(98,202)
(98,202)
(130,850)
719,343
588,493		 2024
£
445,911
(40,102)
(40,102)
(91,714)
(91,714)
314,095
405,248
719,343

Page 16

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

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

1. General information

Child Light Limited is a company limited by guarantee, incorporated in England & Wales, whose main activity is that of operating a school. The registered office and situation of the school is 17-19 Brookside, Cambridge CB2 1JE. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Child Light Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees consider there are no material uncertainties about the company's ability to continue as a going concern.

2.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 17

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

2. Accounting policies (continued)

2.4 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

With effect from 1 January 2025, UK school fees became subject to Value Added Tax (VAT) in accordance with changes to UK VAT legislation. From that date, tuition fees and certain related supplies are treated as standard-rated for VAT purposes. Fee income is recognised net of VAT.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 18

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

2. Accounting policies (continued)

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Input VAT is recovered in accordance with applicable VAT regulations and the School’s partial exemption method where relevant.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements.

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

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

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

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 19

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

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

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.8 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term 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.

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it 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 recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money 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 to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 20

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

2. Accounting policies (continued)

2.12 Pensions

The company operates a defined benefits pension scheme in respect of its teaching staff. The scheme is a state plan where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the company's share of the underlying assets and liabilities of the plan. Therefore, as required by Section 28 of FRS 102, the company accounts for this scheme as if it was a defined contribution scheme. Contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.

The company also operates two defined contribution pension schemes, one in respect of its nonteaching staff and another for teaching staff not opted into the defined benefits scheme described above.

2.13 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

3. Accounting estimates and areas of judgment

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates, but these are unlikely to be material.

4. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
5,742
Total 2024
6,468		 Restricted
funds
2025
£
27,167
26,412		 Total
funds
2025
£
32,909
32,880		 Total
funds
2024
£
32,880

Page 21

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

5. Investment income

Unrestricted
funds
2025
£
Investment income
17,647
Total 2024
2,249
Income from charitable activities
Unrestricted
funds
2025
£
Heritage School income
2,629,637
Total 2024
2,570,570		 Total
funds
2025
£
17,647
2,249
Total
funds
2025
£
2,629,637
2,570,570		 Total
funds
2024
£
2,249
Total
funds
2024
£
2,570,570

6. Income from charitable activities

7. Income from other trading activities Income from fundraising events

HCA fundraising
Other fundraising
Total 2024		 Restricted
funds
2025
£
8,405
721
9,126
8,734		 Total
funds
2025
£
8,405
721
9,126
8,734		 Total
funds
2024
£
7,657
1,077
8,734

Page 22

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

8. Other incoming resources

Royalties received
Other interest received
Other income
Total 2024
Expenditure on raising funds
Costs of raising voluntary income
Heritage Community Association (HCA) costs
Total 2024		 Unrestricted
funds
2025
£
1,032
-
3,313
4,345
5,594
Restricted
funds
2025
£
5,780
5,483		 Total
funds
2025
£
1,032
-
3,313
4,345
5,594
Total
funds
2025
£
5,780
5,483		 Total
funds
2024
£
1,570
356
3,668
5,594
Total
funds
2024
£
5,483

9. Expenditure on raising funds Costs of raising voluntary income

Page 23

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

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

10. Analysis of grants

Amazing Grace School, Uganda
Total 2024		 Grants to
Institutions
2025
£
1,213
596		 Total
funds
2025
£
1,213
596		 Total
funds
2024
£
596

11. Analysis of expenditure by charitable activities

Heritage School direct costs
Total 2024		 Activities
undertaken
directly
2025
£
1,683,336
1,679,914		 Grant
funding of
activities
2025
£
1,213
596		 Support
costs
2025
£
889,158
820,417		 Total
funds
2025
£
2,573,707
2,500,927		 Total
funds
2024
£
2,500,927

Analysis of direct costs

Staff costs
Depreciation
Heritage School direct costs
Expenditure of income received in the Bursary fund		 Activities
2025
£
1,451,028
76,141
137,034
19,133
1,683,336		 Total
funds
2025
£
1,451,028
76,141
137,034
19,133
1,683,336		 Total
funds
2024
£
1,441,094
78,309
158,349
2,162
1,679,914

Page 24

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

11. Analysis of expenditure by charitable activities (continued)

Analysis of support costs

Staff costs
Recruitment and training
Property
Administration
Marketing
Audit
Professional fees
Finance costs
Compliance and inspections
Total 2024		 Activities
2025
£
323,197
9,730
172,960
106,541
10,202
9,900
18,819
232,007
5,802
889,158
820,417		 Total
funds
2025
£
323,197
9,730
172,960
106,541
10,202
9,900
18,819
232,007
5,802
889,158
820,417		 Total
funds
2024
£
304,054
11,473
126,459
108,657
9,981
7,306
13,387
233,571
5,529
820,417

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 July 2025, no Trustee expenses have been incurred (2024 - £NIL).

13. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £5,940 ( 2024 - £4,390 ) , and an accounts preparation fee of £3,960 (2024 - £2,916).

Page 25

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

14. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
1,352,171
123,245
298,809
1,774,225		 2024
£
1,352,818
117,226
275,104
1,745,148

The average number of persons employed by the Company during the year was as follows:

Teaching staff
Administrative staff		 2025
No.
43
14
57		 2024
No.
46
12
58

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,001 - £70,000 1 1
In the band £70,001 - £80,000 1 -

The remuneration (including national insurance and pension contributions) received by key management personnel was £264,303 (2024 - £220,907). The key management personnel for the purpose of this disclosure are the Headmaster, Deputy Head and the Bursar.

Page 26

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

15. Tangible fixed assets

Cost or valuation
At 1 August 2024
Additions
Disposals
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
On disposals
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Freehold
property
£
6,933,179
-
-
6,933,179
312,772
69,537
-
382,309
6,550,870
6,620,407		 Motor
vehicles
£
25,949
-
-
25,949
25,331
154
-
25,485
464
618		 Fixtures and
fittings
£
61,052
6,235
(5,744)
61,543
45,638
5,914
(5,744)
45,808
15,735
15,414		 Computer
equipment
£
20,008
-
(5,945)
14,063
18,400
536
(5,945)
12,991
1,072
1,608		 Total
£
7,040,188
6,235
(11,689)
7,034,734
402,141
76,141
(11,689)
466,593
6,568,141
6,638,047

The total net book value of the charity's freehold property has been pledged as security for liabilities. For further details, see Note 19.

16. Stocks

2025 2024
£ £
Finished goods and goods for resale 2,659 14,721

Page 27

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

17. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments
Tax recoverable		 2025
£
22,188
12,657
94,371
-
129,216		 2024
£
25,906
1,788
54,746
3,699
86,139

18. Creditors: Amounts falling due within one year

Bank loan
Other loans
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
114,014
1,276
118,393
3,971
58,312
295,966		 2024
£
96,145
4,711
38,897
4,331
319,732
463,816

Page 28

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

19. Creditors: Amounts falling due after more than one year

Bank loans
Other loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Other loans
Over five years
Bank loans
Other loans		 2025
£
4,086,894
1,500,000
5,586,894
2025
£
122,948
424,294
500,000
3,539,652
1,000,000		 2024
£
4,202,962
1,500,000
5,702,962
2024
£
98,448
204,193
500,000
3,900,321
1,000,000

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

Payable or repayable by instalments
Payable or repayable other than by instalments		 2025
£
3,539,652
1,000,000
4,539,652		 2024
£
3,900,321
1,000,000
4,900,321

Page 29

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

During the year ended 31 July 2021 a new bank loan was arranged with the charity borrowing £4,640,000 to be repaid over 30 years. This loan is subject to 3.98% interest per annum for the first 5 years and thereafter to an annual interest rate charge of 3.93% over the prevailing bank base rate. This loan is secured by a first fixed and floating legal charge over the charity's freehold properties, 17-19 Brookside (Cambridge, CB2 1JE), Panton Hall (Cambridge, CB2 1HP) and all other assets.

In addition the charity took out four other loans during the year ended 31 July 2021: - Two loans were taken out on similar terms, one for £450,000 and one for £50,000 which are to be repaid after 7 years. These loans are subject to 3% interest per annum. On the settlement of these loans, an independent valuation of 17-19 Brookside (Cambridge, CB2 1JE) will be carried out, and the charity will pay the lenders 23% and 2.60% (respectively) of any increase in the market value of the property over £4,835,000 less any 'capital expenditure on improvements'. The repayments are subject to a maximum amount equal to the original loan plus 7% compounded interest per annum.

The four loans have a second fixed charge over the charity's freehold properties and rank equally, with any payments proportionate to the loans advanced.

20. Financial instruments

2025 2024
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 588,493 719,343

Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand.

Page 30

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

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

21. Statement of funds

Statement of funds - current year

Balance at 1
August 2024
£
Unrestricted funds
General fund
1,266,049
Restricted funds
Restricted funds - other
4,520
Amazing Grace
1,155
Bursary fund
-
Commemoration fund
2,960
Building fund
10,000
Heritage Community Association fund
6,788
25,423
Total of funds
1,291,472		 Income
£
2,657,371
1,821
372
19,133
-
1,785
13,182
36,293
2,693,664		 Expenditure
£
Balance at
31 July 2025
£
(2,550,432)
1,372,988
(872)
5,469
(1,111)
416
(19,133)
-
-
2,960
(1,785)
10,000
(6,154)
13,816
(29,055)
32,661
(2,579,487)
1,405,649		 Expenditure
£
Balance at
31 July 2025
£
(2,550,432)
1,372,988
(872)
5,469
(1,111)
416
(19,133)
-
-
2,960
(1,785)
10,000
(6,154)
13,816
(29,055)
32,661
(2,579,487)
1,405,649
5,469
416
-
2,960
10,000
13,816
32,661
1,405,649

Page 31

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

21. Statement of funds (continued)

Restricted funds - other

Such resources represent small donations given for specific purposes relating to the running of the school.

Amazing Grace School, Uganda

Amazing Grace School is a school in Uganda of a roughly similar age as Heritage School. A number of the pupils are orphans, and there are boarders and day pupils. The relationship between Amazing Grace and Heritage Schools extends into the classroom as pupils write letters to one another and send art work and other items to each other. Typically, Heritage School donates the proceeds from the Christmas Concert collection and a portion of all HCA raised funds to Amazing Grace each year.

In summer 2025, it became apparent that Amazing Grace School is no longer suitable for our donations due to their governance structure. The school will alert the HCA donors of the situation with the proposal that restricted funds still held are transferred for the unrestricted use of Heritage School.

Bursary fund

Bursaries are awarded to pupils who, it is believed, will gain most from a Heritage education and will contribute fully to the life of the school. Bursaries are awarded on a sliding scale up to a maximum of 75%, with emphasis on ensuring a broad distribution, so that as many families can benefit as possible.

Commemoration fund

The Commemoration fund was established in the year ended 31 July 2022 and is to be used for any activities that celebrate the people, history, or key events in the school's life. The aim of this fund is for such activities not to place a burden on the operational funding of the school.

Building and facilities improvement fund

This fund is for donations received for the purposes of increasing, improving or repairing the facilities owned by Child Light at Brookside or Panton Hall.

Heritage Community Association (HCA) fund

The HCA raises funds for Heritage School through activities including cake sales, second-hand clothing sales, fetes, and other events. Funds raised are initially treated as restricted funds, meaning they are held for the benefit of the school. The HCA may subsequently choose to donate these funds to the school, at which point they can be used for the school’s general purposes.

Page 32

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

21. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General fund
Restricted funds
Restricted funds - other
Amazing Grace
Bursary fund
Commemoration fund
Building fund
Heritage Community Association fund
Total of funds		 Balance at
1 August
2023
£
1,172,337
530
488
-
4,500
-
-
5,518
1,177,855		 Income
£
2,584,881
4,512
1,263
2,162
-
17,000
10,209
35,146
2,620,027		 Expenditure
£
(2,491,169)
(522)
(596)
(2,162)
(1,540)
(7,000)
(3,421)
(15,241)
(2,506,410)		 Balance at
31 July 2024
£
1,266,049
4,520
1,155
-
2,960
10,000
6,788
25,423
1,291,472

22. Summary of funds

Summary of funds - current year

Balance at 1
August 2024
£
General funds
1,266,049
Restricted funds
25,423
1,291,472		 Income
£
2,657,371
36,293
2,693,664		 Expenditure
£
Balance at
31 July 2025
£
(2,550,432)
1,372,988
(29,055)
32,661
(2,579,487)
1,405,649		 Expenditure
£
Balance at
31 July 2025
£
(2,550,432)
1,372,988
(29,055)
32,661
(2,579,487)
1,405,649
1,405,649

Page 33

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

22.
Summary of funds (continued)
Summary of funds - prior year
Balance at
1 August
2023
£
Income
£
General funds
1,172,337
2,584,881
Restricted funds
5,518
35,146
1,177,855
2,620,027
23.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2025
£
Tangible fixed assets
6,568,141
Current assets
687,707
Creditors due within one year
(295,966)
Creditors due in more than one year
(5,586,894)
Total
1,372,988
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
£
Tangible fixed assets
6,638,047
Current assets
794,780
Creditors due within one year
(463,816)
Creditors due in more than one year
(5,702,962)
Total
1,266,049		 Expenditure
£
(2,491,169)
(15,241)
(2,506,410)
Restricted
funds
2025
£
-
32,661
-
-
32,661
Restricted
funds
2024
£
-
25,423
-
-
25,423		 Balance at
31 July 2024
£
1,266,049
25,423
1,291,472
Total
funds
2025
£
6,568,141
720,368
(295,966)
(5,586,894)
1,405,649
Total
funds
2024
£
6,638,047
820,203
(463,816)
(5,702,962)
1,291,472

Page 34

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED (A company limited by guarantee)

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

24. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in stocks
Increase in debtors
(Decrease)/increase in creditors
Net cash provided by/(used in) operating activities
25.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
26.
Analysis of changes in net debt
At 1 August
2024
£
Cash at bank and in hand
719,343
Debt due within 1 year
(100,856)
Debt due after 1 year
(5,702,962)
(5,084,475)		 2025
£
114,177
76,141
12,062
(43,077)
(185,716)
(26,413)
2025
£
588,493
588,493
Cash flows
£
(130,850)
(14,434)
116,068
(29,216)		 2024
£
113,617
78,309
(2,499)
(14,313)
270,797
445,911
2024
£
719,343
719,343
At 31 July
2025
£
588,493
(115,290)
(5,586,894)
(5,113,691)

Page 35

Docusign Envelope ID: 06CA1E29-A7F3-85D1-83C2-C745F87414D6

CHILD LIGHT LIMITED

(A company limited by guarantee)

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

27. Related party transactions

Related party transactions not disclosed elsewhere in the financial statements are as follows: - Revd C M Meakin, a Trustee, has two (2024 - two) children who attended the school during the year; - Revd Dr. R McDonald, a Trustee, has three (2024 - three) children who attended the school during the year; and

The company secretary, who is also the Headmaster, and his wife are employees of the school. The salaries and any benefits to which they are entitled are on terms no more favourable than those of any other employee.

During the year, the charity received restricted donations totalling £6,620 (2024 - £2,500) from three (2024 - two) of its Trustees.

28. Pension commitments

Teachers' Pension Scheme

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £260,424 (2024 - £252,520) and at the year-end no contributions were payable in respect of contributions to this scheme (2024 - same).

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262.0bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.60%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Group Personal Pension Schemes

The School also operates two group personal pension schemes; the Independent School’s Pension Scheme (ISPS) and the Aviva Pension Trust for Independent Schools (APTIS). The schemes are defined contribution schemes, the assets of the schemes being held separately from those of the school in independently administered funds.

The school's contributions to the ISPS for non-teaching staff were 8.45% (combined pension and death in service benefit) (2024 - same) with employee contributions of 7.00% (2024 - same). Employer contributions paid to this scheme in the year were £22,986 (2024 - £21,407). No amounts remained payable to this scheme at the year end (2024 – same).

The APTIS scheme was introduced in the current year. The school's contributions to this scheme for the respective teaching staff were 23.02% or 14.34%, depending on the employee’s choice of salary versus pension contribution, with employee contributions of 7.00%. Employer contributions paid to this scheme in the year were £13,970. No amounts remained payable to this scheme at the year end.

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