2025-08-31-accounts

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Warminster School

(a company limited by guarantee)

Governors’ Report & Financial Statements

For the year ended 31 August 2025

Companies House Registered Number: 02990649 Charity Registration Number: 1042204

Warminster School Governors’ Report & Financial Statements for the year ended 31 August 2025

	Page(s)
Governors’ Report	2 - 8
Strategic Report	9 - 22
Independent Auditor’s Report	23 - 26
Statement of Financial Activities -	27
(including the income and expenditure account)
Balance Sheet	28
Cash Flow Statement	29
Notes to the Financial Statements	30 - 44

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report for the year ended 31 August 2025

The Governors of Warminster School present their annual report for year ended 31 August 2025, together with the audited Financial Statements for the year, and confirm that the latter comply with the requirements of the Companies Act 2006, the Company’s Memorandum and Articles of Association, the Charities Act 2011, Financial Reporting Standard 102 ‘the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (FRS102) and the current Statement of Recommended Practice on accounting and reporting by charities: the Charities SORP 2019 (FRS102).

Governors, Members and Advisors

Principle Address and Registered Warminster School Office Church Street, Warminster Wiltshire, BA12 8PJ Governors (also members) Ms C Drennan $ Mr C J B Goodbody ~ $ Member of the Education Committee Mr T Lewis $ ~ # Member of the Finance Committee Mrs A Martin # + responsibility for Health and Safety Mrs D Miller # ~ responsibility for Safeguarding Ms B Sunderland – Chair Mr M Thompson $ Mr G Vallis + Ms C Whitehead (Appointed 12/05/2025)# Mr D Wilson # Mr J F Woolsey +# Patrons The Marquess of Bath The Bishop of Salisbury Company Secretary and Bursar Mrs K A Mines Headmaster Mr M Williams Independent Auditor Crowe U.K. LLP 4[th] Floor, St James House, St James Square Cheltenham, GL50 3PR Solicitors Middleton & Upsall 94 East Street, Warminster Wiltshire BA12 9BG Bankers Lloyds Bank Plc Canons House, Canons Way Bristol BS99 7LB

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report

Reference and Administrative Information

Warminster School originates from a boys’ school founded in 1707 and a girls’ school founded in 1874. The schools merged in 1973. Warminster School is a Charity, registered number 1042204, and also a company limited by guarantee, registered number 02990649. The Governors, executive officers and the principal address of Warminster School are listed on page 2, together with the particulars of the Charity’s professional advisors.

Structure, Governance and Management

Governing document

The Charity is governed by its Memorandum and Articles of Association dating from 1994 on incorporation and amended in 2008.

Governing body

The Memorandum and Articles of Association state that the Directors of the charitable company shall be known as Governors, and the Members of the charitable company be known as Members. The Governors and Members who held office during the year are shown on page 2.

The structure of the Charity consists of one Governing Body of not more than twelve Governors for Warminster School, which incorporates Warminster Preparatory School.

Recruitment and Training of Governors and Senior Personnel

New Governors are appointed by ordinary resolution of the Governors at a General Meeting on the basis of nominations received, and eligibility is subject to personal competence, specialist skills and availability. New Governors are inducted into the workings of the Charity and the management of the school, including the policies and procedures, at training meetings organised for them by the Chair, the Headmaster and the Bursar. Governors’ training needs are assessed on an individual basis and training is given as appropriate. All Governors were invited to the School Safeguarding training at the start of September 2024. Regular guidance notes and information from AGBIS is shared with the Governors.

Senior personnel are recruited on the basis of national advertisement and selection by Governors and other senior personnel. The Governors’ Finance Group consider the remuneration of senior personnel where appropriate at the summer term meeting. Consideration is given to benchmarking, in particular the AGBIS Survey on Heads and Bursars Remuneration, market information and time in their position. Governors will also consider performance against objectives.

Organisational Management

The Governors are legally responsible for the overall management and control of Warminster School including Warminster Preparatory School and meet at least three times a year. There are two sub-committees, the Education Committee chaired by Ms Drennan and the Finance Committee chaired by Mrs Martin. The Finance Committee meets between two or three weeks before each meeting of the full Governing Body to consider the specific issues prior to presenting their recommendations or proposals to the full Board. The Finance Committee is the committee responsible for considering Business Risk throughout the year and reporting on this issue to the full Board during the summer term. The Education Committee meets in the morning prior to the Full Board meeting and consists of a meeting and learning walks across all departments of the School. Other Finance Committee and Education Committee members are listed on page 2.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report (continued)

In addition, there are Governors with specific responsibilities. Giles Vallis for Health & Safety, Charles Goodbody and Tim Lewis for Child Protection, and John Woolsey for SEND.

The day to day running of the School is delegated to the Headmaster and the Bursar. The Headmaster is supported in this by the Executive Team of Warminster School, which comprises the Bursar, Deputy Head, Deputy Head Academic and Deputy Head of Prep. The Executive Team attend all Governors Meetings.

Governors’ indemnities

As permitted by the Articles of Association, the Governors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force. The Company also purchased and maintained throughout the financial year Governors’ and Officers’ liability insurance in respect of itself and its Governors.

Group Structure and Relationships

Warminster School actively supports attainment of the highest standards in the Independent Schools sector, partly through networking with other major Schools and partly through peer group studies for the evaluation of quality and performance improvement methods. We co-operate with many local charities in our ongoing endeavours to widen public access to the schooling we can provide, to optimise the educational use of our cultural and sporting facilities and to awaken in our pupils, in the public interest, an awareness of the social context of the all-round education they receive at the School. Warminster School also benefits from the generosity of the parents through the Warminster School Parents’ Association. This is a separate entity from the Charity. Their support is greatly appreciated.

The Charity has a wholly owned non-charitable subsidiary, Warminster School Enterprises Ltd, principally providing catering to local Primary Schools. The financial results are included in Note 27. The results of Warminster School Enterprises Ltd are not consolidated with the results of the School on the grounds of materiality. The Governors recognise the community impact of Warminster School Enterprises Ltd and considers this a significant benefit to the community. The Bursary Fund is a separate charity controlled by Warminster School and set up to support bursaries, the income and expenditure are not considered material and are therefore not consolidated within the accounts.

Objects, Aims, Objectives and Activities

Charitable Objects

The Charity’s objects, as set out in its Memorandum and Articles of Association, are the advancement of education by carrying on Warminster School as a School for the education of children as boarding or day pupils, in accordance with the principles and spiritual values of the Church of England.

Public Benefit aims and intended impact

Warminster School has, since its foundation, been a School at the heart of the local community. From September 2021 the School has run a programme called EDGE – Explore, Discover, Grow, Engage. Every Wednesday afternoon, pupils in Years 11, 12 and 13, who are not members of the Combined Cadet Force, undertake a huge range of community projects. We have built up positive working relationships with various members of the local community over the past 5 years and these continue to flourish. Successful projects this year included Art Club at Ashwood care home; Tech Support Club at the Athenaeum Centre; volunteering in several charity shops; running after school clubs for local Primary Schools (The Minster, Sambourne and Princecroft); Pen pal club; visits to Wren House senior citizens home; Community Chess and Croquet in partnership with the U3A; working alongside the Warminster Town Mayor in relation to Climate change; writing for the Warminster Journal and many more. The EDGE programme runs every week and highlights the school’s commitment to service and our desire to help all pupils engage fully with the local community.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report (continued)

Highlights of the year ending August 2025 :

The School hosted a Lions Prostate Screening Day which proved to be a significant success, attracting a total footfall of 221 attendees. Of these, nine individuals were referred for further investigation following abnormal results. The event had a positive impact across the town and played an important role in raising awareness of men’s health issues within the local community.

The School’s engagement with care homes in Warminster continued to expand, with support provided to six local homes. Visits to Henford House Care Home were established, with plans in place for regular three-weekly visits from September. The School also maintained links with Flers Court Residential Home, and residents from all care homes were invited to attend a performance of Matilda .

The Minster Primary School Spanish after-school club concluded at the end of the academic year, with plans agreed to recommence in October following the arrival of new language assistants. Minster Primary School also made use of the School’s AstroTurf facilities over the Easter break and confirmed further bookings at the start of the Summer Holiday. Preparatory work was undertaken to enable increased support for additional afterschool clubs from September.

Warminster School again attended the town’s Spring in the Park festival. This well-attended community event provided opportunities both to raise funds for charity and to engage in positive conversations with local families about the School and its wider community programme.

Youth Club activities continued to be well received, with events running successfully and further sessions, including rounders and a picnic, planned for the summer holidays.

The Julia’s House Art Auction followed pupils’ volunteering within the charity’s shop and raised a total of £1,605. The event benefited from strong support from local artists, OVS and parents, and helped to highlight the valuable work undertaken by Julia’s House.

The School continued to support the Warminster Health and Wellbeing Group through the provision of on-site meeting space and via the weekly Tech Club. Multiple sessions were delivered to assist local residents with downloading and using the NHS App. Prescription ordering had become a particular area of concern within the town, and the School was pleased to offer practical support in this area.

An outdoor cinema night in support of Alzheimer’s charities took place during the half-term break.

The newly established Warminster Town Wellbeing Hub Club was a notable success. Originally launched as a board games club, it evolved to include pupils supporting Kingdown School students with Spanish and German conversation practice in preparation for examinations. Music-making, including group playing and singing, also became a valued part of the programme. The club helped to break down barriers between Warminster School and Kingdown School and strengthened relationships within the local community. Early discussions also took place to establish a pen-pal link with a school in Zimbabwe.

The Tech Club continued to develop through close collaboration with the Warminster Health and Wellbeing Group. Meetings were held with the Practice Manager at the local GP surgery, alongside Wells Pharmacy and Boots, to improve coordinated technology support for older residents. The Practice Manager also visited pupils at the Tech Club to thank them personally for their contribution to the community.

Planning progressed for the Minster Church Fete, which took place on 21 June on St Boniface Lawn and provided a further opportunity for community engagement and outreach.

For the second consecutive year, Princecroft Primary School used the Warminster School Art Gallery to exhibit whole-school art projects. Each year group attended a viewing, followed by a well-supported parental open afternoon. Footfall was significantly higher than in the previous year, with very positive engagement, and the exhibition was booked again for the following year.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report (continued)

The School continued to work closely with local primary schools through the provision of after-school clubs. At Minster Primary School, a Drama Club was delivered; at Princecroft, outdoor activities including running and gardening were supported; and at Sambourne, a club was provided for pupils from more challenging home circumstances.

The Compass School Sports sessions proved challenging to establish due to a range of logistical factors; however, development work continued. The PE lead from Minster Primary School led efforts to bring the programme together, with provisional dates explored from January 2026.

The popular U3A Croquet sessions returned during the summer term. Approximately ten guests attended EDGE sessions to play croquet alongside Warminster pupils. These sessions were highly valued by participants and helped to strengthen connections with former pupils, with several OVS reconnecting with the School as a result.

Finally, the annual Big Sleepout saw 40 pupils spend a night under the stars, raising just over £3,000 for charity. The event received strong social media coverage and was supported by a video message of thanks from the charity’s Chief Executive Officer.

Several members of staff act as Governors of local schools, both state and independent.

In the furtherance of these aims the School Governors, as the charity trustees, have complied with the duty in s.17 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under that Act.

Objectives for the year

In the Spring Term 2020 the School launched a new strategic plan that set out a coherent and robust set of themes and objectives in order to drive School improvement. This strategic plan was updated in June 2024. The overriding mission statement for the School is:

To develop and nurture rounded individuals with a love of learning and strong moral values, within a supportive and inspiring community.

Under this mission statement lie 6 key strategic themes that seek to cover all areas of School life:

Academic Achievement

Through a relevant, tailored and well organised curriculum, delivered by dedicated and expert teachers, we will equip pupils with critical thinking and practical problem-solving skills, as well as a knowledge base that will allow them to flourish. Through curiosity and engagement in a dynamic learning environment which embraces appropriate technology, our pupils will maximise their academic success. Teachers will have high expectations of all pupils who will become effective communicators, can self-manage and learn collaboratively, as well as independently.

Pastoral Care

Through robust and caring practice, we will demonstrate a strong commitment to safeguarding, mental health, and the wellbeing of our whole community. With a focus on our core values that acknowledge and celebrate our Christian foundation, we will develop courageous and empathetic pupils who demonstrate integrity and kindness. Through well-integrated pastoral care, we will support our pupils’ spiritual and social development and allow their voices to be heard.

Co-curricular

Through a wide range of co-curricular activities, we will support our pupils’ holistic development as they uphold the Warminster School values and virtues. We will give them opportunities to try new things, take risks, be creative, and to thrive as internationally minded individuals who embrace and celebrate difference.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report (continued)

Community and Outreach

We will nurture a vibrant and diverse school community which puts service at the heart of its activity. The school will play an active role in the community, cementing strong partnerships, providing public benefit, and supporting local, national, and international charitable organisations. We will continue to look for ways to engage with our alumni and increase the quality of relationships with all friends of the school. We will forge links with international partners and develop a global perspective on education.

Marketing and Admissions

Through timely, coherent, and innovative communication we will make all stakeholders feel integral to the school community. We will continue to consolidate our brand strategy and remain agile to market and sector conditions. We will be mindful of the optimum size and shape of the school from 2-18, with the appropriate proportion of domestic and international pupils. We will celebrate diversity, inclusion, and accessibility.

Business Development

We will provide a robust business model that ensures the long-term sustainability of Warminster School, in a way that delivers a high-quality experience to pupils and represents good value to parents. We will look at creative and innovative ways of maximising and diversifying non-fee income in order to support ongoing investment. We will continue to recruit, develop and retain excellent staff who are experts in their field and who are wholly aligned to our mission and values. We will plan and deliver improvements to our campus, creating exciting spaces for living, learning and leisure, whilst being mindful of sustainability and our impact on the environment.

For each strategic theme the School has a series of key objectives that have different timescales. The main objectives for 2024-2025 were:

To create a model to assess KS2 and KS3 pupil progress in all subjects in order to measure expected (EP) or more than expected progress (MTEP).
To enhance how Pupil Voice is harnessed within School.
Build on the success of last year's Summer Festival through development of relationship with external agencies and increased collaboration with school staff.
Foster a sense of belonging and pride among alumni by creating opportunities for meaningful engagement with Warminster School and fellow alumni.
Measure the level of involvement and participation of alumni in activities, such as events, volunteer opportunities, mentorship programs, and donations.
Ensure our Marketing & Admissions Strategy and associated recruitment activity continues to take into consideration prep, senior, day, boarding, key feeder schools, our target demographic and international markets.
To support all staff through induction, mentoring and proactive line management so facilitating an effective staff body in promoting the values and community of the School.

The Governors receive a termly report from the Headmaster which outlines the progress against objectives. The Governors are satisfied that in 2024-25 the school either met, or exceeded the set objectives.

Throughout the Spring Term 2023, the School undertook significant work to cement its Values and Virtues (V&V). These were crystalised in a graphic representation of a tree with the values forming the roots and the learner virtues being the canopy. Altogether we decided on six values: Empathy, Kindness, Integrity, Creativity, Curiosity, and Courage . And six virtues or attributes: Critical thinkers, Independent Learners, Communicators, Risktakers, Collaborators, Problem-Solvers .

During the course of 2025-2026 we will continue to embed these in everything we do from staff performance reviews to pupil rewards. The School calendar is themed on a half-termly basis with a particular emphasis on each Value or Virtue. Our behaviour policy has been updated and teachers and tutors will be asked to bring them to life in lessons, tutor-time, and in co-curricular pursuits.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Governors’ Report (continued)

Following extensive analysis, consultation, and long-term planning the Prep School will relocate to the Senior School campus, with effect from September 2026.

This decision has been taken in the context of a markedly challenging operating environment for the independent school sector. The Governors have a clear responsibility to ensure the long-term financial sustainability and operational resilience of Warminster School; the relocation of the Prep School represents a key component of this strategy. The anticipated financial benefits include the release of capital through the eventual sale of the existing Prep School site, together with the achievement of ongoing operational efficiencies and economies of scale. These measures are expected to have a positive and enduring impact on the School’s financial position and its capacity to respond effectively to future economic pressures.

More broadly, this development supports the School’s long-term vision of operating as a single, unified institution. It will strengthen community cohesion, reinforce a shared institutional identity, and further embed a secure and academically continuous transition between the Prep and Senior phases.

Principal activities of the year

The Charity principally provides education in Warminster to boys and girls from the ages of 2-11 in Warminster Preparatory School and from 11-18 in the Senior School. It also hires its facilities to educational summer schools, provides access to the School’s sporting facilities to pupils from two other local state junior schools and to the community and uses its kitchen facilities to provide hot food daily to a number of local primary schools and nurseries.

As part of the agreement with the Church of England Cley Hill Team Ministry, the School provides the IT, telephone and fax facilities for The Minster, Warminster and helps with the costs of the Church’s Administrative Team.

In a transaction approved by the Charity Commission, the School, on 26th March 2003, granted a lease on a tract of School land to the local cricket club for £1 a year. The land has been used to build a full-length, twopitch, indoor training school. These facilities are now used by other local schools and cricket clubs, as well as by the School.

Fee remissions policy

This year the value of scholarships, grants, prizes and bursaries made to the School’s pupils out of unrestricted funds totalled £1,846,020 (2024: £1,840,146). Of this, £312,838 (2024: £287,072) 3% (2024: 3%) of fee income was awarded in Scholarships and £748,150 (2024: £773,635) 6.4% (2024: 7.6%) of fee income in bursaries, all of which are means-tested according to the school’s policy and criteria. The remainder of the funds cover standardised discounts to members of the armed forces, members of staff and siblings of current pupils. The School does not benefit from any endowments to fund scholarships. The policy of the Governors is to make awards on the basis of the individual’s educational, musical, artistic or sporting potential, or to relieve hardship where the pupil’s education and further prospects would otherwise be at risk. Details of all such awards for feeassistance, together with the terms and conditions for each kind of award, are available from the Bursary.

Details of the Reserves Policy, plans for future periods and financial risk management are included within the Strategic Report below.

The Governors’ Annual Report was approved by the Board of Governors and signed on its behalf by:

Ms B Sunderland Chair of Governors

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report for the year ended 31 August 2025

Achievements and Performance

The School had no fundraising activities requiring disclosure under S162A of the Charities Act.

Whole School

The School has continued its successful track record, both academically and in other measures of performance. The prep and senior schools continue to benefit from close collaboration between their leadership teams, working in partnership with a committed and supportive governing board. Together, they maintain a clear strategic direction that places the school’s mission at the centre of decision-making. Regular review and evaluation support informed planning and ensure that the school remains responsive to both opportunity and challenge.

The wellbeing and safety of pupils remain a central priority. Safeguarding arrangements are well embedded, and pupils report strong levels of trust in the adults who support them. Teachers and house staff play a key role in fostering a culture in which pupils feel listened to and confident in seeking guidance when needed.

Pastoral care is a significant strength of the school. The vertical house system, encompassing pupils across all year groups as well as day and boarding provision, continues to promote a strong sense of belonging and continuity. These house communities support pupils’ personal development, encourage positive relationships across age groups and provide an effective framework for transition, including from the prep to the senior school.

Pupils demonstrate secure levels of self-awareness and social maturity, and standards of behaviour around the school and in lessons are generally high. Clear expectations are in place, supporting a calm and purposeful learning environment. Leaders remain attentive to the importance of consistency in the application of policies, recognising its role in sustaining pupils’ confidence in fairness and mutual respect.

Academic outcomes remain strong. The majority of pupils make good progress relative to their starting points, reflecting effective teaching and careful monitoring of achievement. Where pupils require additional support, timely and targeted interventions are provided. Pupils with SEND and those with English as an additional language are well supported and typically make good progress, often exceeding initial expectations.

Boarding continues to make a positive contribution to the life and character of the school. Boarders are fully integrated into the wider community and are active participants in academic and co-curricular provision. The presence of overseas pupils adds an important international dimension, enriching pupils’ understanding through cultural exchange and shared experiences.

The school’s commitment to developing rounded individuals is further reflected in its outreach and extracurricular provision. Partnerships with local schools and engagement in charitable activity at local, national and international levels provide pupils with meaningful opportunities to develop leadership, empathy and a sense of social responsibility.

Overall, the school continues to fulfil its mission to nurture pupils with a love of learning and strong moral values within a supportive and inspiring community, and remains well placed to build on these strengths in the year ahead.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Academic

Exams in the summer 2025 series were positive and pupils were prepared as they have been for all public examinations in previous years.

Results were very positive with the following highlights:

A Level – 99% pass rate
A Level – 63% A*-B (Or equivalent), significantly higher than our previous best of 56%
IBDP – 100% pass rate
IBDP – 76% of HL grades were at grades 7-5
GCSE – 86% pass rate
29% of grades at grade 9-7

Our OCR Cambridge Technical subjects (Business, Sport & Physical Activity and Engineering) continue to yield exceptional results with:

12 Distinction (Equivalent to A at A Level)
25 Distinctions (Equivalent to A at A Level)
5 Merits (Equivalent to C at A Level)
3 Pass (Equivalent to E at A Level)

A new reporting model was finalised for use from September 2025, this includes a new method of tracking progress across Key Stage 3, using a standardised approach across all subjects. This will be fully embedded throughout the 2025-26 academic year.

Ongoing objectives focus on curriculum models across all Key Stages and ensuring our curriculum continues to be the right one for our pupils, as well as a focus on digital literacy, particularly in Key Stages 3 and 4.

EYFS Profile results

For the academic year 2024/25 our Good Level of Development (GLD) score was 87.5%. This remains well above National Average of 68.3%. For the past 6 years, we have achieved significantly above the national average for Good Level of Development. This demonstrates our pupils continue to outperform their peers, year on year.

Pastoral

Pastoral care and pupil wellbeing are at the heart of everything at Warminster. Delivered through the House system, Boarding Village, Church/Chapel and dedicated staff, pastoral care is constantly developing to meet the needs of pupils, ensuring that everybody feels safe, happy and a valued member of the community. A key focus continues to be ensuring the pastoral and academic scaffolding and support provided by tutors is consistently excellent. Heads of House, House Masters/Mistresses and tutors have continued to focus on ensuring that the quality of individualised support offered to pupils is excellent, with the main tenet being regular one-to-one meetings facilitated by tutors. Pupil Progress is used to help facilitate meaningful and focused discussions around academic progress and attainment.

A key ongoing target is to cultivate a culture of praise by focusing on the ways we reward our pupils and celebrate their achievement and contribution. Merits, commendations and colours continue to be awarded throughout the school in recognition of the pupils' efforts in displaying the Warminster School Values and Virtues.

The Warminster Values and Virtues now provide the foundation of our School and House Assembly programmes. Prep assemblies, PSHE lessons, Tutor Time and displays have been focusing on introducing and embedding our Values and Virtues. The key skills reward schemes have been adapted to reflect the new language. Pre-Prep pupils explore a value or virtue each half term, during assembly or tutor time, to embed the characteristics and importance of our virtues and values. Key content is shared with parents via ClassDojo each term. The school’s lesson plan and observation proforma have been amended to incorporate our values and virtues. Prep Merit and Work of the Week rewards have been used to reinforce our values and virtues as have rewards given to EYFS pupils. Awards in the Senior School, such as the Lions XI, make direct reference to the values and virtues. The Values and Virtues ‘Tree’ is now displayed on startup screen of all school desktops. We

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

were pleased to receive the following feedback from ISI: ‘ Senior Leaders have successfully instilled the school's values and virtues into the school culture. These values are consistently reinforced and are well known to both pupils and staff, and give an overall focus to the aims and mission of the school’.

Relationships continue to develop with external agencies, in particular with our Police Youth and Intervention Team, who are looking into lunchtime drops-ins for pupils once a month. These visits are designed to provide pupils with the opportunity to meet and talk with officers in a friendly, informal setting. The aim is to help children build positive relationships, feel confident asking questions, and learn more about staying safe both in and out of school. These visits are purely supportive and educational in nature and are an important part of our wider work with community partners. We believe this initiative will help pupils see the police as approachable, trusted members of the community and further strengthen the supportive environment we strive to create in school.

We continue to build our relationships with the Army Welfare Team, the Deputy Area Welfare Support Officer having visited the school. The School has been invited to the attend the Garrison coffee morning, on Thursdays and the school also hosted a Military Family BBQ.

The School has been awarded the Wiltshire Healthy Schools Award (Bronze) and the Wiltshire Young Carers Award. The school continues to work towards the Carnegie Boarding School Mental Health Award for submission in April 2026. The School received results and data from the Wiltshire Emotional Wellbeing Survey, which have been shared with the relevant staff across School. The School has signed up to participate again next year. We have finished our trial with the Wiltshire FACT (Family and Children Transformation) programme, which was a great success and as a result we continue to work with the Wiltshire School & Family Support Practitioner, who comes into school and works with pupils and families who might need support. Warminster School also hosted the inaugural Designated Safeguarding Leads for Independent Schools Forum, with support from Wiltshire Council.

The Deputy Heads of House have led the successful launch of the weekly tutor programme and calendar which are communicated via Teams. The programme provides guidance and resources for tutors (with a focus on embedding the Warminster Values and Virtues). The Pupil Mentoring Programme continues to be a valuable support for pupils, with a number of Year 10-13 pupils supporting younger pupils.

Sadly, due to a lack of interest in the Care and Share Event, this CPD opportunity has been replaced by a plan to host Pastoral Podcasts. This is going to be pupil-led, and a guest list has been created. In addition, we have had to postpone our partnership with Bold Voices for the same reason.

We continue to embed the use of restorative practice when managing relational conflict and cases of bullying. 12 members of staff were enrolled on the Restorative Thinking – Fostering Restorative practice in Schools programme. The learning gained by this course has been used to develop policy and procedures.

Pupil Voice is an important aspect of school life. The School Council has been restructured and now consists of four sub-committees (Academic, Health and Well-being, Co-Curricular and Food). Pupil voice has been utilised to update our shared code of conduct for classrooms and the Dining Hall. It has led to changes in catering and the clubs and activities that we offer. Each Prep classroom has a ‘Worry Monster’ through which children can voice their concerns. Suggestion boxes are present in the junior boarding house. In EYFS, Child’s Voice and Parent View questionnaires take place. School Council completed a ‘Where I feel Safe’ in school exercise.

Prep School council is chaired by Year 6 and includes representatives from Year 2 to Year 6. Meetings took place weekly. ‘Idea sheets’ are located in each classroom and Chairs fed back to whole school through assemblies. Minutes of School Council meetings were shared with the staff body and the Leadership Team. The Council have prompted changes in routines, uniform and appearance guidelines and impacted decision around facility development and refurbishment.

Moving forwards our boarding provision continues to develop. From May 2026 we will have three boarding houses; one each for boys and girls aged 11 to 16, and a sixth form co-educational house.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

The Health and Wellbeing Hub continues to be a positive asset to our pupils’ welfare. We continue to work with Off The Record and the school counsellor based there. Both lines of support are busy, with waiting lists. The LBTQ+ group continued to meet on a Wednesday in the Hub, which is pupil-led. The Hub is also used as a venue to host meetings and external visits.

The reviewed safeguarding meeting schedule is working well, allowing the DSL and DDSLs time to reflect and action, using the Gibbs reflection cycle. It was successfully implemented when reviewing and reflecting on a sexual violence incident. Additionally, time is being dedicated to reflecting on incident management following police involvement.

For the safeguarding insets, the following themes have been covered: statutory changes and updates in line with KCSIE; mental health and wellbeing, which was delivered by a representative from the Charlie Waller Trust, cyber security and toxic masculinity.

The School submitted the annual Wiltshire Safeguarding Audit. The outcome for the audit was positive, with a few minor considerations. In April 2024, the School had an ISI inspection, and the Safeguarding Standard was met and described as ‘effective’.

Co-curricular

Our Green Zone programme (Monday and Friday, 16.10–17.00) continued to provide pupils with a wide range of high-quality co-curricular opportunities that broadened experiences and developed talents. Termly pupil and staff feedback informed club planning, with increased sporting and physical activities proving particularly popular. Pupil-led initiatives, such as the World Cuisine cookery club, were once again highly successful, developing leadership and organisational skills among senior pupils.

Through the EDGE programme, pupils benefited from Outdoor Pursuits in Year 9 and Practical Skills in Year 10, including Money Matters, Sewing and Culinary Delights. Years 11–Upper Sixth engaged in extensive community outreach, leading clubs in local primary schools and expanding provision to Minster School. Strong partnerships with local charities, care homes and community groups continued to grow, with pupils volunteering weekly and performing across the local area. EDGE has strengthened our presence within Warminster, with the school increasingly becoming a hub for community, charitable and commercial events.

Music and Drama collaborated on a highly successful, sold-out production of West Side Story at the Athenaeum in November, warmly received by both the school and wider community. In Spring, the Performing Arts Awards Dinner celebrated pupil talent, with guest speaker Katherine Hoskins (Westlands Theatre) highlighting the power of the arts to enrich learning, wellbeing and access. The Summer Festival was headlined by a bold new adaptation of Animal Farm, performed at the Athenaeum by a cast of 17, supported by pupil technicians. Year 10 Drama also impressed audiences with Education, Education, Education, whose humour and political context resonated strongly with pupils. House Drama in March showcased extracts from Berkoff’s Metamorphosis and monologues. The event was enthusiastically praised by adjudicator Damien Todres, Head of Drama at Wells Cathedral School.

In Music, the Autumn term began strongly with Year 7 in Concert, showcasing pupils from beginners to advanced musicians and enjoying excellent parental support. A new Winter Concert was a sell-out success, providing festive performance opportunities for ensembles and marking a valuable addition to the calendar. House Music saw full-school participation and was highly praised by a guest judge for both performance quality and pupil conduct. Lunchtime Concerts in the Chapel continued to offer informal recital opportunities, strengthening pupil support and links with Minster School as they came to watch performances. Musicians also supported the #26forSoph campaign, raising funds through a moving piano recital accompanied by the orchestra. The term concluded with well-attended Carol Services, reinforcing the growing profile of choral singing within the school. Spring and Summer terms were equally vibrant, featuring Cabaret, Scholars’ Recitals, a sell-out Rock, Pop and Jazz concert, and consistently strong lunchtime performances.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

This year’s Summer Festival featured a wide range of workshops and performances, from parkour and tie-dyeing to new theatre productions, all generously funded by a WSPA donation. With 18 new workshops including percussion, collage-making and Warhammer, pupils from Years 7–10 and Lower Sixth tried something new, discovered hidden talents and worked across age groups. A particular highlight was seeing several workshops organised and led by pupils, demonstrating impressive leadership, initiative and creativity. Over two days, more than 25 workshops took place, including Corps of Drums, Bandeoke and Forest Arts. The festival concluded with a final performance by the popular ‘Three Witty Fools’, who presented their sell-out Edinburgh Fringe show before leaving Warminster.

In May, our Ten Tors teams successfully completed the demanding 35- and 45-mile challenges, demonstrating outstanding determination, resilience and teamwork. Their achievement is both significant and inspiring to younger pupils. This year also saw strong participation in the Duke of Edinburgh’s Award, with successful Bronze, Silver and Gold expeditions and many pupils completing all sections to gain their awards. Through the scheme, pupils developed and demonstrated the Warminster values and virtues. Years 7 and 8 continued to enjoy weekly Forest School sessions, and the site also provided an ideal base for Bronze and Silver practice expedition weekends.

This year, the CCF secured £2,500 from The Connaught Trust to create a dedicated cadet space, alongside a further £5,000 grant from the CCF Association to purchase marquees now used at high-profile events such as Ten Tors. Developing junior leadership was a key focus, with the introduction of a Junior Leaders’ programme and 14 cadets attending external instructors’ courses. Five Sixth Form cadets also completed BTEC qualifications, and five new staff successfully joined the CCF team following extensive training. Highlights included the Remembrance Parade in Warminster, a successful Biennial Inspection, visits to HMS Queen Elizabeth, and the year ending with an Apache helicopter landing and flypast at the final parade.

Our pupils’ artwork was displayed at the Salisbury Schools Art Exhibition at the Young Gallery in Salisbury. Pupils from both the prep and senior schools exhibited work at the exhibition. A selection of our pupils’ work was also exhibited at the Black Swan Young Open Exhibition.

House Art and Photography competition winners work, together with GCSE, A Level and IB work was exhibited in the Art Gallery for Speech Day as well during the Summer Festival. The Creativity of the pupils was abundantly clear, as was their willingness to take risks and work independently.

In terms of Educational Visits, staff have become more confident in their use of our new trips planning platform, Evolve, following lunchtime training sessions. Continual reviewing of national guidance updates continues to inform the updating of our Educational Visits policy. A broad range of educational visits have taken place again this year, including a trekking trip to Morocco for Years 7-9 and a whole school ski trip to Italy in the Easter holidays. Throughout the academic year there have been numerous curriculum visits including a Drama residential trip to London, a Biology and ESS trip to Cornwall, Geography field trips, a Physics visit to the Science Museum and English theatre visits, as well as a variety of boarding trips including the New Forest Water Park, shopping trips, and Frome Boulder Rooms. A three-year Residential Visits plan was shared with parents in the summer term so that they have oversight of the exciting opportunities on offer to their children and can make decisions and plan finances accordingly.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Charity

The Charity committee work alongside the EDGE groups to raise money and awareness for a number of charities:

•	Alzheimer's Support	•	Minster Church Fete
•	BBC Children in Need	•	Every Youth- Big Sleep out
•	British Heart Foundation	•	Save the Children
•	Dorothy House- Elf Run	•	Motor Neurone Disease Association
•	Guide Dogs for the Blind	•	Help for Heroes
•	Royal Marines Association	•	Children’s Hospice South West
•	Comic Relief- Red Nose day

In 2024-25 a total of £14,147 was raised for the groups above.

Sport

Sport and Physical Education continues to be guided by our purpose: to ensure sport and exercise are both fun and challenging for all pupils, fostering a lifelong love of physical activity and supporting sporting aspirations.

This year, every pupil in Years 7 and 8 represented the School in a competitive fixture, contributing to an overall 76% participation rate in competitive sport across all year groups. Our U15 rugby team reached the National Vase area knockout final, while the 1st XV boys rugby team topped their group at the Roslyn Park National Sevens.

‑ The netball programme was enhanced through a highly successful residential pre season training camp, including a masterclass delivered by a former England international. The School was also represented at county and national level in cross country, and pupils achieved national recognition in hockey, alongside success in local summer league competition.

In cricket, the 1st XI recorded an excellent victory over the MCC in a declaration fixture, while our sporting offer continued to expand with the introduction of mixed doubles tennis fixtures against local schools.

The year concluded with successful Senior and Prep Sports Days, demonstrating outstanding engagement and a strong sense of community. The Senior and Junior Sports Awards celebrated not only performance, but also leadership, teamwork, and camaraderie across the School.

The Prep School

Pupils in the Prep School continue to benefit from a broad, balanced and engaging curriculum. We place equal emphasis on establishing a strong academic foundation and providing a wide range of enrichment opportunities across subject areas. This is supported by high-quality form teaching alongside specialist, subject-led provision. Science provision at KS2 significantly exceeds National Curriculum requirements, with pupils receiving double the prescribed teaching time. This enhanced provision is reflected in outcomes, with pupils consistently performing well above national averages in standardised assessments. The extra-curricular programme adds a further dynamic dimension to pupils’ learning and personal development.

Sport, physical activity and holiday care provision remain key at Prep. The hire of a local indoor swimming pool enables pupils from Reception to Year 3 to receive swimming instruction throughout the year, at no additional cost to parents. Our facilities are also used by a local tennis academy, which provides term-time lessons for pupils and holiday provision for the wider community. In addition, we now offer in-house holiday clubs, run by Prep Staff, to pupils in Reception to Year Six. The addition of this holiday club is popular with parents.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

The School remains committed to strong community engagement. As part of our outreach programme, staff have led Saturday workshops for primary-aged children in areas including Forest School, music, art and sport. Two local nurseries, The Learning Meadow and Farley, Steeple Langford, have benefited from a four-week block of music workshops led by our Head of Music. Music staff have also worked collaboratively with local primary schools, most notably through a joint choir performance at the Minster Church Fête.

Opportunities for performance are embedded across all year groups to support the development of wellrounded individuals. Each year, pupils from Nursery to Year 6 continue to take part in four major performances, either on stage or on screen. This year, Year 6 pupils performed The Tempest as part of the Shakespeare Schools’ Festival. The Head of Music continues to oversee a vibrant co-curricular programme, including three choirs, a string group and a band, ensuring musical participation across a wide range of abilities and interests.

House events play an important role in strengthening pupil relationships and fostering a strong sense of community across the School. A wide range of activities is offered, including House Sing, House assemblies, House Pancake Races, House Sport, House Quiz and House lunches. These events are further enriched through the involvement of Heads of House and House Prefects from the Senior School, promoting continuity, leadership and positive role modelling across the wider school community.

Charitable engagement is a consistent feature of the Prep School year and is led by our Y6 Charity Representatives. Pupils have supported a range of local and national charities, including the Royal British Legion Poppy Appeal, Warminster Food Bank and Children in Need, through fundraising and community-based activities. In addition, Year 3 pupils attend the local dementia centre on a weekly basis, working alongside residents and staff, providing a meaningful opportunity to develop empathy, social responsibility and community awareness.

Financial review

Financial statements

The net fee income for 2024-25 has fallen marginally from the prior year (£9.9m 2024 to £9.8m 2025). Pupil numbers reduced impacting all streams of educational income. Income for other trading activities has increased from £238k (2024) to £340k (2025); this is due to the growth of the Summer Language School programme and the introduction of other income generation activities. Income in total has fallen from the prior year by £116k. Expenditure has continued to be tightly controlled, however a number of factors have been outside our control. The continued increase in National Living Wage, reduction in NI thresholds and the removal of business rates relief have all had an impact. The impact of these increasing costs and a reduction in the pupil roll has led to a deficit at the year end of £654k and plans are in place to address this moving forward. Governors are aware of the need to address this moving forward and have recently announced the relocation of the Prep School to the senior site from September 2026, generating significant recurrent savings and ensuring that the cost base is appropriate for pupil demand.

Reserves policy

The Charity’s unrestricted funds stood at £5.3M (2024: £6.0M) as at 31[st] August 2025. Restricted Funds are £31k. The prize fund represents donations from former staff and pupils of the School and are used to provide speech day prizes. The Old Verlucian Foundation fund represents monies received from the Old Verlucian Foundation and are reserved for the purpose of purchasing books for the School’s library. The Hardship Fund has been created to financially support families who are suffering short term financial hardship due to the pandemic. Tangible Fixed assets account for £9M of the reserves leaving a balance of £(3.7)M net assets and long term liabilities.

The Governors’ aim is to build up our resources by means of generating annual operating surpluses so that it can continue to invest in resources for current and future pupils.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Investment policy

The School holds shares and securities in the Church of England Investment Fund to the value of £11k (2024: £11k). The investment policy is a programme related policy to support future Bursaries.

Principal Risks and Mitigating Factors

The Governors are responsible for the management of the risks faced by the Charity. Detailed considerations of the risks are delegated to the Finance Committee, which is assisted by the Headmaster and the Bursar. Risks are identified, assessed and controls are established throughout the year. A formal review of the Charity’s Risk Management process is undertaken on an annual basis. The key controls used by the Charity include:

formal agendas for all Committee and Board activities;
detailed terms of reference for all Committees;
comprehensive strategic planning, budgeting and management accounting;
established organisational structure and lines of reporting;
formal written policies;
clear authorisation and approved levels; and
vetting procedures as required by law for the protection of the vulnerable.

Through the risk management process established for the Charity, the Governors are satisfied that major risks are identified and appropriately mitigated where necessary.

Principle risks are identified as being:

Failure to market to, and attract new pupils.
The Marketing and Admissions Team continue to work with external agencies and prospective pupils to ensure that the pupil number on roll is maintained. The School accepts a need for fluidity within year group numbers and will react proactively to the changing demographics. Strategic focus on pupil retention at key points of education targeting Year 11’s to stay for Sixth Form and Year 6’s to progress to the senior school.
Impact on pupils numbers driven by the requirement to charge VAT on fees.
The school recognises the need to monitor pupils numbers and the impact of the significantly increased fee moving forward.
Continual rise in the cost of living impacting our fee payer’s ability to pay and therefore increasing debts. o Constant review of the debtors and the numbers of prospective pupils allowing us to be forewarned of this impact. The Bursar maintains open communication with a number of families with current pupils to support them through this time.
Continual rise in employment costs driven by the budget.
Increase in the cost of employers NI, the lowering of the NI threshold and a further increase in the National Living Wage – all of which will impact the fee price at a time when families are already subjected to an additional VAT charge.
Risk of cyber-fraud attack.
Upgrading of all cyber security and increase is provision for insurance against such an act. Continual review of cyber security.

It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Financial Risk Management

The Charity’s operations expose it to a variety of financial risks that include the effects of changes in credit risk, liquidity risk and interest rate risk. The school is exposed to credit risk as its main customers are the parents of pupils. The school is active in discussing payment terms with parents and agreeing payment plans through a third party where required. The school is exposed to liquidity risk but minimises the exposure by actively monitoring the monthly cash flow. Similarly, the school is also exposed to a rise in interest rates which it minimises by ensuring a reasonable contingency amount within the appropriate budget heading. In addition, the Charity has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the Charity. The Charity is not exposed to commodity price risk as a result of its operations.

Material Uncertainty related to going concern

Unfortunately at the year end there was a breach of the bank covenant for the fixed rate loan, therefore the loan balance remaining is shown as due within one year. Lloyds bank have indicated that once the accounts are signed they will issue a Reservation of Rights letter stating that they are aware of the breach and do not intend to recall the loan balance. The bank are working closely with the school on the financial forecasts.

The School is working with the Business Support Unit at Lloyds Bank who are providing support on strategy and financial planning. The current overdraft has been approved at £2.0m to the end of August 2026. This overdraft was approved based on forecasts which assume the relocation of the Prep School and subsequent sale of the Prep School site is completed by August 2026. The forecasts have also been reviewed by an external accountancy firm as directly by Lloyds for the Independent Bank Review.

The school has seen a decrease in pupil numbers this year, we believe this is driven by a reduction in demand due to increasing costs, and the pressure of the additional VAT on fees, as well as the demographics/relevant birth rates. The relocation of the Prep School onto the senior site addresses this reduction in demand – ensuring the cost base is resized and not relying on increased demand and fee increases to meet the costs. It is likely that the loan covenant will be breached for the year ending 31st August 2026. The bank is aware of this and remains supportive of the current strategic plan.

The School has prepared detailed forecasts through to August 2028 which are based on static pupil numbers. These forecasts show a return to profit making by year ended August 2026. The forecasts also track the cash position each month and are shared with the Bank Manager for their scrutiny. The School and Bank are working closely together, and the transparent relationship is strong. Due to the nature of the market, and the reliance on delivering the strategic plan Governors have confirmed that it is appropriate to adopt the going concern basis in the preparation of the financial statements, however due to the nature of the market, and the reliance on delivering the strategic plan, a material uncertainty exists in relation to going concern.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Plans for the future

The School’s strategic plan is a live and dynamic exercise that focuses on six key areas. Key points from each of these areas for the future are:

Academic Achievement

Through a relevant, tailored and well organised curriculum, delivered by dedicated and expert teachers, we will equip pupils with critical thinking and practical problem-solving skills, as well as a knowledge base that will allow them to flourish. Through curiosity and engagement in a dynamic learning environment which embraces appropriate technology, our pupils will maximise their academic success. Teachers will have high expectations of all pupils, who will become effective communicators, able to self-manage and to learn collaboratively as well as independently.

To support this ambition, the School will develop and publish a revised curriculum plan aligned with the revised shape of the school day and week. This plan will address subject balance alongside staff and pupil workload and wellbeing, while providing clear opportunities to focus on academic achievement within an invigorating and engaging curriculum. The curriculum will continue to be reviewed to establish and strengthen clear academic pathways, ensuring progression routes through the School for all pupils, regardless of learning aptitude.

A clear mapping of fundamental digital literacy will be developed and embedded within the Key Stage 3 curriculum, supported by a robust policy for the use of technology across the curriculum and comprehensive staff training. Alongside this, the School will introduce a consistent model for assessing Key Stage 2 and Key Stage 3 pupil progress across all subjects, enabling the measurement of expected progress (EP) and more than expected progress (MTEP). The current reporting model will also be reviewed, with the introduction of a more efficient and higher-quality reporting system for pupils and parents.

In public examinations, the School will focus on increasing value-added performance, with annual targets of +1.0 at GCSE and +0.3 at A Level/IB. Pupils will be supported through excellent guidance at all transition points, ensuring clear progression pathways between phases and into higher education, employment, or apprenticeships. Independent advice and guidance will be provided at key stages, including GCSE, post-16 and post-18 transitions, to support pupils in achieving success in their chosen fields.

The School will also develop and implement systems that provide meaningful experiences of the world of work, including block work experience placements and taster days. In parallel, a comprehensive review of academic IT systems will be completed to ensure that they are being used efficiently and deliver maximum value for money.

Pastoral Care

Supporting pupil mental health and wellbeing will remain a core priority, with pastoral resources and provision regularly evaluated and developed in response to pupil need. The School will strengthen the use of individual Pupil Support Plans to ensure consistency of care, while continuing to build strong relationships with external agencies and charities in order to offer a wide and relevant range of support to the school community. The School will work towards achieving the Carnegie School of Education Boarding School Mental Health Award and will use internal case reviews to strengthen both the Safeguarding Team and the wider staff body. Ongoing staff training in mental health, wellbeing and safeguarding will remain central, alongside the embedding of restorative practices in managing conflict and incidents of bullying. The PSHE and RSE programme will continue to evolve, with a focus on high-quality delivery, assessment for learning and meaningful reporting.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

The interlinked House and pastoral system will be further strengthened to ensure every pupil feels known, supported and valued. The quality of one-to-one support provided by tutors will continue to be enhanced, and opportunities to integrate and utilise House families more effectively will be explored. Best pastoral practice will be shared through the development of pastoral-focused podcasts, and mentoring provision will be strengthened through the continued development of the Pupil Mentoring Programme and House-based mentoring.

Pupil Voice will be actively developed through an approach that inspires rather than compels participation, engages pupils through creative expression and multiple platforms, and recognises and rewards those who speak out. The School Council and its restructured committees will continue to grow in influence and impact, while equality, diversity and inclusion will permeate all decision-making. The work and scope of the Diversity and Inclusion Group will be developed further, alongside strengthened partnerships with external organisations. Pupils will be actively involved in the creation of accessible, pupil-friendly policies, including those relating to safeguarding, e-safety, child-on-child abuse and anti-bullying.

Co-curricular

The School will continue to develop a varied, balanced and manageable co-curricular programme that caters for all pupils and adds genuine value to their development. Activities will be designed to encourage social growth, risk-taking and exploration of new interests. The use of SOCS will be fully embedded to manage the co-curricular calendar, track participation and support effective reporting by tutors. Staff will be trained to use SOCS reporting functions, enabling tutors to maintain a clear overview of pupil engagement, while co-curricular leads will work together to ensure a coordinated approach to lunchtime and after-school provision. Building on the success of the Summer Festival, the School will further develop partnerships with external agencies and increase collaboration across staff teams.

The Green Zone and EDGE programmes will be further developed to ensure pupils access high-quality activities that broaden experience, stretch ability and nurture talent. Termly pupil feedback will inform planning, supported by regular drop-in observations to monitor quality. Opportunities for pupil leadership within Green Zone activities will be expanded, and the programme will continue to be promoted through social media.

Scholarship programmes will be reviewed and developed to support excellence and ambition while promoting inclusion and leadership opportunities for all pupils. This will involve coordinated working with Heads of Department and co-curricular leads, a review of current practice, and the introduction of systems to monitor and support scholarship pupils effectively.

The School will continue to provide a broad range of stimulating residential and non-residential educational visits. The Evolve Trips planning system will be fully embedded to ensure efficient and safe planning, supported by a rolling three-year residential visits plan that can be clearly communicated to parents. Clear guidelines will be established to ensure an appropriate balance of trips across year groups and subjects, and pupils and House staff will work together to ensure an appealing and affordable programme of weekend boarding trips.

Community and Outreach

We will nurture a vibrant and diverse school community which puts service at the heart of its activity. The School will play an active role in the community, cementing strong partnerships, providing public benefit, and supporting local, national, and international charitable organisations. We will continue to look for ways to engage with our alumni and increase the quality of relationships with all friends of the School. We will forge links with international partners and develop a global perspective on education.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Alumni engagement will be strengthened by fostering a sense of belonging and pride, creating meaningful opportunities for alumni to reconnect with the School and with one another. Engagement will be measured through participation in events, volunteering, mentoring and philanthropic support. A programme of impactful events, talks, reunions and networking opportunities will be developed to connect alumni and the wider community across generations and locations, with careful evaluation of attendance and engagement.

Volunteer engagement will be expanded through the establishment of a mentoring programme in collaboration with the Director of Sixth Form and Pathways, hosted via the Verlucian Community website. The Old Verlucian Ambassador team will be grown to extend the reach of the alumni network, with targeted engagement in regions and year groups where representation is currently limited. Alumni and community database growth will be prioritised through the continued development of the Verlucian Community database, with a target of at least 2,500 active contacts and regular monitoring of data accuracy.

Clear, consistent and compelling communication will showcase the achievements and impact of Warminster School and its alumni, using digital platforms and social media to maintain ongoing engagement. Metrics such as open rates, engagement and website traffic will be used to evaluate effectiveness. Philanthropic support will be developed through the cultivation of donor relationships and the relaunch of the 1707 Bursary Fund campaign, alongside the establishment of a new development charity to support additional projects.

The School will also strengthen engagement with parents, staff and pupils to deepen understanding of alumni relations, School history and philanthropy, including the renovation and reopening of the School archives. Partnerships will continue to be developed at local, national and international levels, with a clear emphasis on reciprocal benefit and shared use of knowledge, facilities, resources and finance.

Marketing & Admissions

Through timely, coherent and innovative communication, we will ensure all stakeholders feel integral to the School community. We will continue to consolidate our brand strategy while remaining agile in response to market and sector conditions. We will be mindful of the optimum size and shape of the School from 2–18, with an appropriate balance of domestic and international pupils, and a clear commitment to diversity, inclusion and accessibility.

Marketing and admissions activity will continue to reflect the full breadth of the School, including prep, senior, day and boarding provision, key feeder schools, target demographics and international markets. Alongside overarching recruitment strategies, there will be a clear focus on priority entry points, supported by effective use of Metis reporting and dashboards to meet or exceed sector benchmarks. Maintaining strong numbers on roll will remain a key strategic priority.

Business Development

We will provide a robust business model that ensures the long-term sustainability of Warminster School, delivering a high-quality experience for pupils and strong value for parents. We will explore innovative ways to diversify and maximise non-fee income to support continued investment, while recruiting, developing and retaining excellent staff who are fully aligned with our mission and values. We will plan and deliver campus improvements that enhance learning, living and leisure, with a clear commitment to environmental sustainability.

Clear, fair and tailored professional development plans will be produced for academic and pastoral staff, aligned to the School’s strategic priorities and balanced carefully with staff wellbeing. Comprehensive induction, mentoring and proactive line management will support staff in promoting the values and culture of the School. Training will continue to evolve to incorporate emerging approaches to education, including the effective use of AI.

Following extensive analysis, consultation, and long-term planning the Prep School will relocate to the Senior School campus, with effect from September 2026.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

The Prep School will be accommodated in Weymouth House, located at the centre of the campus, while the Nursery will be situated within the existing Health and Wellbeing Hub, which will also move to the main site. Senior school departments will be re-located in previously underutilised spaces.

Alongside these financial considerations, the relocation presents significant strategic and educational advantages. The co-location of the Prep and Senior Schools will provide pupils with enhanced and consistent access to the full range of specialist teaching facilities, sports provision, performance spaces and co-curricular opportunities available on the Senior School campus. It will also facilitate closer professional collaboration between staff, greater curricular coherence, and a more integrated educational pathway from Early Years through to Sixth Form.

This initiative reflects the Governors’ and Executive Team’s ongoing commitment to the School’s mission to develop well-rounded individuals within a supportive and inspiring community, and to safeguard the School’s future for generations to come.

Statement of Governors’ Responsibilities

The Trustees (who are also Governors of Warminster School for the purposes of company law) are responsible for preparing the Governors’ Annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these 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 judgments and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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

The Governors are responsible for the maintenance and integrity of the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

In so far as the Governors are aware:

there is no relevant audit information of which the charitable company’s auditors are unaware; and
the governors 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.

Connected persons

Details of transactions with connected persons are shown in note 27 to the financial statements.

Independent Auditor

Crowe. U.K. LLP have expressed their willingness to continue in office being eligible for re-appointment under the provisions of the Companies Act 2006.

The Governors’ Annual Report and Strategic Report were approved by the Board of Governors and signed on its behalf by:

Ms B Sunderland Chair of Governors

Date: 20[th] March 2026

Warminster School Independent Auditor’s Report to the Members of Warminster School

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WARMINSTER SCHOOL

Opinion

We have audited the financial statements of Warminster School for the year ended 31 August 2025 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, 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:

give a true and fair view of the state of the charitable company’s affairs as at 31 August 2025 and of the 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; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw your attention to the going concern accounting policy which is noted on page 30, concerning the School’s ability to continue as a going concern.

The School continues to face challenges, including the impact of the introduction of VAT on school fees, managing cash flows, an increasing cost base and maintaining pupil numbers. The School’s performance and cash position continue to be closely monitored, and management continue to consider and undertake cost saving measures to ensure that the School can continue to meet its obligations as they fall due.

As noted within the going concern policy on page 30, these conditions indicate a material uncertainty exists that may cast doubt on the School’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our responsibilities and the responsibilities of Governors with respect to going concern are described in the relevant sections of this report.

Other information

The Governors are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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 audit or otherwise appears

Warminster School Independent Auditor’s Report to the Members of Warminster School

to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the Governors’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report included within the Governors’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Governors’ report.

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

adequate accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Governors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Governors

As explained more fully in the Governors’ responsibilities statement on page 21 the Governors (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 Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Warminster School Independent Auditor’s Report to the Members of Warminster School

Auditor’s responsibilities for the audit of the financial statements

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

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

We obtained an understanding of the legal and regulatory frameworks within which the Charitable Company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context were The Education (Independent School Standards) Regulations 2014.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of Governors and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within fee scholarships, bursaries and discounts, the going concern assessment and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, the bursar and the Finance Sub-Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, designing audit procedures over scholarships, bursaries and discounts, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, reading minutes of meetings of those charged with governance and designing audit procedures to review and challenge the going concern assessments and conclusions made by management and those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

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

Warminster School Independent Auditor’s Report to the Members of Warminster School

Use of our report

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

Tara Westcott Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor 4[th] Floor St James House St James Square Cheltenham GL50 3PR

Date: 24 March 2026

Warminster School

Governors’ Report and Financial Statements for the year ended 31 August 2025

Statement of financial activities (incorporating an income & expenditure account) for the year ended 31 August 2025

Note Income from: Charitable activities School fees receivable (2) Other educational income (3) Other trading activities Other trading activities (3) Other income (3) Investments Investment Income (4) Voluntary sources Income from Government Grants (5) Donation from Subsidiary (27) Donations (3) Total Income Expenditure on: Raising funds (7) Charitable activities (7) Total Expenditure (7) Net (expenditure) / income from operations Net gains / (loss) on investments (12) Net (expenditure) / income for the year (6) Net movement in funds in the year Fund balances brought forward as at the end of the year (19) Fund balances carried forward at the end of the year (18)	Unrestricted Funds Restricted Funds Total Funds 2025 Total Funds 2024 £ £ £ £ 9,828,886 - 9,828,886 9,940,860 822,722 - 822,722 817,813 340,049 - 340,049 237,784 15,668 - 15,668 204,419 241 - 241 314 - - - - 76,875 - 76,875 45,699 59,779 5,986 65,765 20,210
	11,144,220 5,986 11,150,206 11,267,099
	111,979 - 111,979 153,671 11,692,347 - 11,692,347 11,342,725
	11,804,326 - 11,804,326 11,496,396
	(660,106) 5,986 (654,120) (229,297) (86) - (86) 538
	(660,192) 5,986 (654,206) (228,759)
	(660,192) 5,986 (654,206) (228,759) 5,936,707 25,202 5,961,909 6,190,668
	5,276,515 31,188 5,307,703 5,961,909

The notes on pages 30 to 44 form part of these financial statements.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Warminster School is a company limited by Guarantee No. 02990649

Balance Sheet As at 31 August 2025

2025 £ £ 9,073,573 11,238 9,084,811 26,267 1,007,991 83,952 1,118,210 (4,586,388) (3,468,178) 5,616,633 (308,930) 5,307,703 31,188 5,276,515 5,307,703	2025 £ £ 9,073,573 11,238 9,084,811 26,267 1,007,991 83,952 1,118,210 (4,586,388) (3,468,178) 5,616,633 (308,930) 5,307,703 31,188 5,276,515 5,307,703	2024 £ £ 9,249,712 11,324 9,261,036 54,286 1,077,925 884,842 2,017,053 (4,829,783) (2,812,730) 6,448,306 (486,397) 5,961,909 25,202 5,936,707 5,961,909	2024 £ £ 9,249,712 11,324 9,261,036 54,286 1,077,925 884,842 2,017,053 (4,829,783) (2,812,730) 6,448,306 (486,397) 5,961,909 25,202 5,936,707 5,961,909
	9,084,811 (3,468,178)		9,261,036 (2,812,730)
1,118,210 (4,586,388)		2,017,053 (4,829,783)

	5,616,633 (308,930)		6,448,306 (486,397)
	5,307,703		5,961,909
	31,188 5,276,515		25,202 5,936,707
	5,307,703		5,961,909

The notes on pages 30 to 44 form part of these financial statements.

The Financial Statements were approved by the Board of Governors on 20/03/2026 and signed on its behalf by:

Ms B Sunderland Chair of Governors

Date: 20[th] March 2026

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Cash flow statement Year ended 31 August 2025

Note Cash Flows from Operating activities Net cash (outflow)/inflow from operations 23 Cash Flows from Investing activities Purchase of Fixed Assets Net Cash used in Investing Activities Cash Flows from Financing Activities Repayment of borrowings Net Cash used in Financing Activities Cash and cash equivalents at the beginning of the reporting period Change in cash and cash equivalents in the reporting period 23 Cash and cash equivalents at the end of the reporting period	2025 2024 £ £ (286,739) 527,497 (61,392) (110,190)
	(61,392) (110,190)
	(131,413) (167,646)
	(131,413) (167,646)
	(5,378) (255,039)
	(479,544) 249,661
	(484,922) (5,378)

The notes on pages 30 to 44 form part of these financial statements.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Notes to the financial statements for the year ended 31 August 2025

1 Accounting policies

Warminster School is a Charity, registered number 1042204, and also a private company limited by guarantee, registered number 02990649. The Governors, executive officers and the principal address of Warminster School are listed on page 2, together with the particulars of the Charity’s professional advisors. The Governors report lists the operations and activities of the Company.

The accounting policies of the School have been applied consistently throughout the year and in prior years.

Basis of accounting

The charitable company’s financial statements have been prepared on the going concern basis under the historical cost convention, modified by the revaluation of investments, and in accordance with applicable accounting standards in the United Kingdom, including Financial Reporting Standard 102 ‘the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (FRS102), the Companies Act 2006 and the current Statement of Recommended Practice on accounting and reporting by charities: the Charities SORP 2019 (FRS102) and the Charities Act 2011. The charity is a public benefit entity.

Consolidation

The charitable company has not prepared group financial statements as the results of the subsidiary undertakings are not material to the group as a whole. Accordingly, these financial statements present information about the charitable company as a single undertaking. Exemption provided by section 405A of the Companies Act 2006.

The charitable company has not consolidated the results of the Warminster School 1707 Bursary Fund (Charity No 270721) as they are not material to the results.

Going Concern

The school has seen a decrease in pupil numbers this year, we believe this is driven by uncertainty around the addition of VAT to fees and also Visa restrictions now imposed on international pupils. We have had a significant number of pupils who in previous years would have stayed for a year, but are now limited to a term/term and a half. The loan covenant has been breached for the year ended 31 August 2025 and it is likely that the loan covenant will be breached for the year ending 31st August 2026 as well. Lloyds bank have indicated that once the accounts are signed they will issue a Reservation of Rights letter stating that they are aware of the breach and do not intend to recall the loan balance.

The School recognises that there is still a significant risk of declining pupil numbers due to the increase in cost to parents. The School will continue to work closely with the bank to ensure this risk is managed and mitigated against. However, at the time of signing the accounts, there is significant uncertainty with regards to the impact of the introduction of VAT on school fees. As a result, the Governors have confirmed that it is appropriate to adopt the going concern basis in the preparation of the financial statements, however due to the nature of the market and the reliance on delivery the strategic plan, a material uncertainty exists in relation to going concern.

School fees and extras

School fees and extras represent teaching fees and related income invoiced termly in advance, net of scholarships and other allowances. This income is recognised on a receivable basis when there is a binding commitment for the transfer of funds to the School. Fees and Extras relate to goods and services provided wholly within the United Kingdom. Fees received in advance are held as creditors on the balance sheet. An accrual is made for any income due to the School, which has not been invoiced in the year.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Grants receivable

Grants from government bodies and other sources are received for specific projects/costs and are recognised in accordance with their individual terms and conditions. Income is recognised when the School has entitlement to the funds which is when any performance conditions attached are met, it is probably that the income will be received and the amount can be reliably measured. Grant income will be deferred if received in advance of meeting performance conditions or if the funder specifically states that the income must be spent in a future accounting period.

Donations and other income

As well as its principal fee income stream, the School generates income in the following categories which are recognised on an accruals basis.

Investment income.
Rent and lettings income.
Other income, which comprises registration fees, management charges and donations.

Donations and legacies are recognised on a cash basis unless there is a legally binding commitment for the transfer of funds before cash is received, in which case the income is recognised at this point. Donations subject to specific wishes of donors are credited to relevant ‘restricted funds’.

Funds for Special Purposes

Funds are classed as unrestricted and restricted. Unrestricted funds can be utilised for any of the charity’s operating expenditure. Restricted funds are monies to be used for a specific purpose, for example speech day prizes. Details are shown in the notes to the financial statements.

Expenditure

Expenditure is allocated to expense headings on a direct cost basis. The irrecoverable element of VAT is included with the item of expense to which it relates.

Expenditure on raising funds are those costs incurred in attracting other income to the School, and relevant financing costs.
Charitable activities includes all types of expenditure incurred in providing teaching and boarding programmes.
Governance costs are those costs incurred in the governance of the School. These include the fees for statutory audit and governors’ liability insurance.

Pension Schemes

The Charity exited from the Teachers’ Pension Scheme on 31[st] August 2020 and a new defined contribution scheme with Royal London is provided in place of this from 1[st] September 2020. The Charity also contributes to individual personal pension schemes for various non-teaching staff at rates according to individual employment contracts. Further details are given in note 20 to the financial statements.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Tangible Fixed Assets

All tangible fixed assets are held in the balance sheet at cost less accumulated depreciation. Cost includes the purchase price of the asset plus all other costs incurred in bringing the asset into use. Subsequent expenditure is capitalised where it extends the life or increases the value of the asset.

Long leasehold and freehold properties

The Charity owns a number of buildings and areas of land within and around the town of Warminster. Many of these properties are historic.

The Charity does not depreciate the historic or listed freehold and long leasehold buildings or buildings which are attached to, or extensions of, such property. In the opinion of the Governors, any depreciation in respect of such buildings would be immaterial due to the high residual value of the properties concerned. The last valuation undertaken by Savills in 2017 for a portion of the properties indicated that the net realisable value of the properties was substantially greater than the carrying value as shown in the financial statements.

Recent purpose-built academic blocks are depreciated at 2% per annum straight line. Work at the school’s expense carried out to Leasehold property is depreciated at the appropriate rate to write off the work by the end of the Lease.

Other fixed assets

The policy with regard to other assets is that all significant assets purchased for more than £1,000 will be capitalised. Fixed assets are held at cost which includes the purchase price and any costs of putting the asset into use. Fixed assets under construction are held in a separate category and not depreciated until completed and in use. Depreciation as provided is expected to write off the cost of the fixed assets within their useful lives. The following methods and rates of depreciation applied during the year:

Property built since 2002 on freehold and leasehold land	2%	Straight Line
Sports Facilities	4%	Straight Line
Catering & Property Equipment	10%	Straight Line
Furniture, Fittings & Equipment	20%	Straight Line
Motor Vehicles	33%	Straight Line

Included within the heading ‘Furniture, Fittings & Equipment’ are the capital costs of the School’s computer network system. Peripheral computer equipment, such as work stations and printers, is written off in the year of purchase. The useful economic lives and residual values of fixed assets are reviewed annually.

Investments

All Investments are held in the United Kingdom. Investments are included in the balance sheet at market value at the balance sheet date. Any unrealised gains or losses are reflected in the Statement of Financial Activities.

Stocks

Stocks are valued at the lower of cost and net realisable value on a first in first out basis. Stocks are reviewed annually and a provision created for any slow moving or obsolete stock where required.

Leased Assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight line basis over the lease term .

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Concessionary Loans

Public benefit entity concessionary loans are loans made or received between public benefit entities at below the prevailing market rate of interest and are for the purposes of furthering the objectives of the public benefit entity. The loans are measured at the amount received or paid and are recognised in the Statement of Financial Position.

Creditors

Creditors are recognised where the School has a present obligation which results from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or readily estimated. Creditor figure includes a significant sum for the payment of fees in advance. The School offers parents the opportunity to pay for up to 15 terms tuition fees in advance in accordance with a written contract. This is treated as deferred income until the pupil joins the School whereupon the fees for each school term are charged against the remaining balance and taken to income. Any shortfall is treated as a finance cost and any excess is accrued as additional school income.

Debtors

Short term debtors are initial measured at transaction price.

Financial Instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

Critical accounting judgements and estimation uncertainty

There are no critical accounting judgements made in applying the School’s accounting policies.

The following significant estimates and assumptions have been made in applying the School’s accounting policies:

The annual depreciation charge for fixed assets is sensitive to changes in the estimated useful economic lives of the assets. The lives are reassessed annually and considered to reflect the remaining life of the asset.

The charity makes an estimate of the recoverable value of trade and other debtors. Factors such as the aging profile of the debtors and historical experience are taken into account. Bad Debts are considered on a case by case basis by taking into account the likelihood of recovery. Debts are written off by approval of the Governors if this is deemed appropriate.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

2 School fees

2 School fees
Gross fees Less: Scholarships, Bursaries and other Remissions Granted 3 Other income Other trading activities Lettings income Other educational income Income for extras Registration fees Donations Donations Other income Miscellaneous	2025 2024 £ £ 11,674,906 11,781,006 (1,846,020) (1,840,146)
	9,828,886 9,940,860
	2025 2024 £ £ 340,049 237,784
	340,049 237,784
	802,864 792,813 19,858 25,000
	822,722 817,813
	65,765 20,210
	65,765 20,210
	15,668 204,419
	15,668 204,419

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

4 Income from investments

4 Income from investments
COIF Charities Investment Fund 5 Income from government grants Income from Coronavirus Job retention Scheme 6 Net expenditure The net expenditure for the year is stated after charging: Depreciation: Auditor’s remuneration: Audit related assurance services Operating lease rentals: Land and buildings Equipment Interest payable and similar charges: Interest payable on overdraft Interest payable on loans Bank charges	2025 2024 £ £ 241 314
	241 314
	2025 2024 £ £ - -
	- -
	2025 2024 £ £ 237,531 241,408 31,130 29,688 65,000 65,000 34,914 18,374 26,378 24,768 46,445 52,719 37,018 34,202

7 Total expenditure

Total expenditure
Expenditure on raising funds Lettings costs Financing costs (note 6) Charitable activities Teaching Welfare Premises Support Operating Costs Governance Costs (note 8) Total expenditure	Total Total Staff costs Other costs Depreciati on 2025 2024 £ £ £ £ £ - 2,139 - 2,139 41,983 - 109,840 - 109,840 111,689
	- 111,979 - 111,979 153,671
	5,544,060 614,913 18,029 6,177,002 6,075,443 899,422 1,047,410 5,358 1,952,190 1,683,118 431,438 1,053,603 153,266 1,638,307 1,668,730 921,309 908,826 60,878 1,891,013 1,889,574
	7,796,229 3,624,752 237,531 11,658,512 11,316,865
	- 33,835 - 33,835 25,860
	7,796,229 3,770,566 237,531 11,804,326 11,496,396

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

8 Governance costs

Services provided by the company’s auditors exclude VAT Fees payable for the audit Fees payable for other services Governors’ expenses 9 Employee information Staff costs Wages and salaries Social security costs Other pension costs (note 20)	2025 2024 £ £ 27,480 25,062 5,595 - 760 798
	33,835 25,860
	2025 2024 £ £ 6,475,425 6,544,769 646,776 571,282 674,028 660,977
	7,796,229 7,777,028

There were no redundancy or termination payments made in year, none in prior year.

The average number of employees including part time staff (head count) during the year was:

Teaching and house staff Administration Other	2025 2024 Number Number 134 141 28 28 62 77
	224 246

Drop in staff numbers due to resignation of Peripatetic Music Teachers and the outsourcing of Catering midyear to Thomas Franks Ltd.

Key Management personnel of the School are deemed to be the Headmaster, the Bursar, two Deputy Heads and the Head of Prep. The total amount paid to key management personnel, including Employers Pension, National Insurance and any Benefits in Kind was £561,246 (2024: £545,332).

The Governors received no remuneration (2024: £nil). Governors’ travelling and training expense are reimbursed when claimed. Expenses of £760 (2024: £798) were paid to one Governor in 2025.

The number of employees whose emoluments were £60,000 per annum or above:

	2025	2024
	Number	Number
£60,000 - £69,999	-	1
£70,000 - £79,999	2	2
£80,000 - £89,999	1	-
£90,000 - £99,999	-	1
£100,000 - £109,999	1	-
£120,000 - £129,999	-	1
£130,000 - £139,999	1	-

None of the employees above have retirement benefits accrued under defined benefit schemes. 10 Taxation

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

The School is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in furtherance of the charity’s primary objectives, if these profits and surpluses are applied solely for charitable purposes.

11 Tangible fixed assets

Cost At 1 September 2024 Additions Disposals At 31 August 2025 Accumulated Depreciation At 1 September 2024 Disposals Charged in the year At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024	Property on Freehold and Leasehold land Sports Facilities Furniture, fittings & equipment Motor vehicles Total £ £ £ £ £ 10,785,668 383,776 2,185,202 108,666 13,463,312 - - 61,392 - 61,392 - - - - -
	10,785,668 383,776 2,246,594 108,666 13,524,704
	2,116,909 202,804 1,786,378 107,509 4,213,600 - - - - - 143,603 9,663 83,117 1,148 237,531
	2,260,512 212,467 1,869,495 108,657 4,451,131

	8,525,156 171,309 377,099 9 9,073,573
	8,668,759 180,972 398,824 1,157 9,249,712

The long leasehold property held by the Charity is a 99 year lease which ends on 27 June 2064. However, during the last 21 years of the lease period the Charity has the option to acquire the freehold reversion for £10. The lease has therefore been treated as a freehold. In line with the School’s accounting policy for historic buildings, the leasehold property has not been depreciated. St Boniface playing fields cannot be sold without the agreement of St Boniface Trust.

The value of freehold and long leasehold land and buildings not being depreciated is £3,632,184 (2024: £3,632,184).

12 Fixed asset investments

UK Listed Investments Market value at the beginning of the year Revaluation in year Market value at the end of the year	2025 2024 £ £ 11,324 10,785 (86) 539
	11,238 11,324

The listed investment represents 571.55 shares in the Charities Official Investment Fund.

13 Stocks

Stocks	2025 2024 £ £
	26,267 54,286

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

14 Debtors

4 Debtors
Trade debtors Other debtors Intercompany debtors Prepayments & accrued income	2025 2024 £ £ 635,238 629,918 81,978 178,653 27,531 107,830 263,244 161,524
	1,007,991 1,077,925

Trade debtors are stated after provisions for impairment of £180,695 (2024: £189,498).

15 Creditors

5 Creditors
Bank loan (secured) Bank overdraft (secured) VAT Creditor Trade creditors Fees in advance Advanced fees (note 17) Deposits St Boniface Sports Field Purchase Taxation and social security Other payroll creditors Other creditors Accruals and deferred income	Amounts falling due within one year Amounts falling due after more than one year 2025 2024 2025 2024 £ £ £ £ 1,057,800 1,189,214 - - 568,875 890,220 - - 214,987 - - - 194,888 103,386 - - 1,255,624 1,387,001 - - 303,270 432,235 272,930 446,397 334,683 426,156 - - 4,000 4,000 36,000 40,000 152,366 144,966 - - 94,226 90,773 - - 149,684 114,540 - - 255,985 47,292 - -
	4,586,388 4,829,783 308,930 486,397

5
Creditors

Bank loan (secured)
Bank overdraft (secured)
VAT Creditor
Trade creditors
Fees in advance
Advanced fees (note 17)
Deposits
St Boniface Sports Field Purchase
Taxation and social security
Other payroll creditors
Other creditors
Accruals and deferred income

Amounts falling due within
one year
Amounts falling due after
more than one year
2025
2024
2025
2024
£
£
£
£
1,057,800
1,189,214
-
-
568,875
890,220
-
-
214,987
-
-
-
194,888
103,386
-
-
1,255,624
1,387,001
-
-
303,270
432,235
272,930
446,397
334,683
426,156
-
-
4,000
4,000
36,000
40,000
152,366
144,966
-
-
94,226
90,773
-
-
149,684
114,540
-
-
255,985
47,292
-
-

4,586,388
4,829,783
308,930
486,397

Fees in advance represents cash paid before year end relating to the following term. Advanced fees represents fees paid in advance for a minimum of one years’ education.

The bank overdraft and bank loans are secured by way of a legal charge over the charitable company’s long leasehold properties. The renegotiated bank loan’s capital is repayable under a 15 year term fixed annuity loan with final repayment due in June 2032. Interest is charge on the outstanding balances at a rate of 3.70% over the bank’s base rate for the bank overdraft and 4.11% for the loan.

16 Bank Loans

6 Bank Loans
Due in 1 year Due within 1 – 2 years Due within 2 – 5 years Due after 5 years	2025 2024 £ £ 1,057,800 1,189,204 - - - - - -
	1,057,800 1,189,204

The bank loan is shown as due within one year due to the breach in covenant at the year end. The Bank has indicated they will issue a Reservation of Rights document after the accounts are signed stating that they will not recall this loan within a one year period. See note 1 on the going concern policy.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

17 Advanced Fees

In specific circumstances the school can receive fees in advance in respect of certain pupils. The advance payments held by the school as at 31 August 2025 will be applied to offset fees as follows:

	2025	2024
	£	£
Within 1 year	303,270	432,235
Within 1 to 2 years	177,210	219,600
Between 3 and 5 years	95,720	226,797
	576,200	878,632
he advance fees balance represents the accrued liability under the contracts. Capital movements during the
ear were:
	2025	2024
	£	£
Balance brought forward	878,632	10,272
New contracts	189,716	878,632
Amounts utilised or refunded	(507,572)	(10,272)
Discount applied	15,424	-
Balance carried forward	576,200	878,632

The advance fees balance represents the accrued liability under the contracts. Capital movements during the year were:

18 Movement in Funds

Restricted Funds Prize Fund Old Verlucian Other Funds Hardship Fund Unrestricted Funds General Fund Total Funds	At 1 September 2024 Income Expenditure Loss on Investment Transfers At 31 August 2025 £ £ £ £ £ £ 5,415 - - - - 5,415 1,520 10,000 - - - - - - - - 1,520 10,000 8,267 5,986 - - - 14,253
	25,202 5,986 - - - 31,188
	5,936,707 11,144,220 (11,804,326) (86) - 5,276,515
	5,936,707 11,144,220 (11,804,326) (86) - 5,276,515
	5,961,909 11,150,206 (11,804,326) (86) - 5,307,703

The prize fund represents donations from former staff and pupils of the School. The funds are used to provide speech day prizes.

The Old Verlucian Foundation fund represents monies received from the Old Verlucian Foundation. These funds are used for the purpose of purchasing books for the School’s library.

The Hardship Fund represents donations received to support families suffering short term financial hardship.

The Other Fund represents a donation received to support a School club for the refurbishment of electric motorcycles.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

19 Movement in Funds (year ended 31[st] August 2024)

Restricted Funds Prize Fund Old Verlucian Foundation Fund Hardship Fund Unrestricted Funds General Fund Total Funds	At 1 September 2023 Income Expenditure Gain on Investment Transfers At 31 August 2024 £ £ £ £ £ £ 5,415 - - - - 5,415 1,520 10,000 - - - - - - - - 1,520 10,000 8,267 - - - - 8,267
	25,202 - - - - 25,202
	6,165,466 11,267,099 11,496,396 538 - 5,936,707
	6,165,466 11,267,099 11,496,396 538 - 5,936,707
	6,190,668 11,267,099 11,496,396 538 - 5,961,909

20 Pensions Obligations

The Charity participates in the following Pension Schemes:

(a) defined contribution pension schemes, the assets of which are held separately from those of the Charity in independently administered funds.

The total pension cost charge represents contributions payable by the Charity to these schemes as follows:

2025 2024 £ £ Defined Contribution Scheme 674,028 660,977 674,028 660,977 The following contributions had not been paid to the Schemes at the year-end: 2025 2024 £ £ Defined Contribution Scheme 92,785 89,379 92,785 89,379	2025 2024 £ £ 674,028 660,977
	674,028 660,977
	92,785 89,379

All pension charges are charged to unrestricted funds, in line with the fund out of which wages and salaries are paid.

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

21 Operating Lease commitments

At 31 August 2025, the company had total commitments under non-cancellable operating leases as follows:

Less than one year Between 1 and 2 years Between 2 and 5 years After 5 years	Land and Buildings Equipment 2025 2024 2025 2024 £ £ £ £ 65,000 65,000 22,141 25,489 65,000 65,000 19,333 19,333 195,000 195,000 30,714 50,048 197,917 262,917 - -
	522,917 587,917 72,188 94,870

22 Company limited by guarantee

The liability of the Members is limited. In the event of the charitable company being wound up, the Members have undertaken to contribute to the assets of the charitable company such amounts as may be require not exceeding £1 each. There were 11 (2024: 11) members of the charitable company at the year end.

23 Notes to the Cash Flow

i) Reconciliation of net debt

Cash Overdraft Facility Bank Loan (within one year)	Balance at 1 September 2024 Cash-flows Balance at 31 August 2025 £ £ £ 884,842 (800,890) 83,952 (890,220) 321,346 (568,874) (1,189,214) 131,413 (1,057,801)
	(1,194,592) (348,131) (1,542,723)

ii) Reconciliation of net expenditure to net cash flow from operating activities

Net expenditure for the reporting period Depreciation Decrease/(Increase) in stocks (Gain) / Loss on investments Decrease/(Increase) in debtors Increase in creditors Net cash (outflow)/inflow from operating activities	2025 2024 £ £ (654,206) (228,759) 237,531 241,408 28,019 (4,841) 86 (538) 69,934 (308,397) 31,897 828,624
	(286,739) 527,497

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

iii) Analysis of cash and cash equivalents

Cash Overdraft Facility	Balance at 1 September 2024 Cash-flows Balance at 31 August 2025 £ £ £ 884,842 (800,890) 83,952 (890,220) 321,346 (568,874)
	(5,378) (479,544) (484,922)

24 Allocation of the Charity’s Net Assets

Restricted funds Unrestricted Funds At 31st August 2025	Tangible Fixed Assets Investments Net assets Long term liabilities Total £ £ £ £ £ - - 31,188 - 31,188 9,073,573 11,238 (3,499,366) (308,930) 5,276,515
	9,073,573 11,238 (3,468,178) (308,930) 5,307,703

25 Allocation of the Charity’s Net Assets for the year ended 31 August 2024

Restricted funds Unrestricted Funds At 31st August 2024	Tangible Fixed Assets Investments Net assets Long term liabilities Total £ £ £ £ £ - - 25,202 - 25,202 9,249,712 11,324 (2,837,932) (486,397) 5,936,707
	9,249,712 11,324 (2,812,730) (486,397) 5,961,909

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

26 Statement of Financial Activities for the year ended 31 August 2024

Note Income from: Charitable activities School fees receivable (2) Other educational income (3) Other trading activities Other trading activities (3) Other income (3) Investments Investment Income (4) Voluntary sources Income from Government Grants (5) Donation from Subsidiary (27) Donations (3) Total Income Expenditure on: Raising funds (7) Charitable activities (7) Total Expenditure (7) Net (expenditure) / income from operations Net gains / (loss) on investments (12) Net (expenditure) / income for the year (6) Net movement in funds in the year Fund balances brought forward as at the end of the year (19) Fund balances carried forward at the end of the year (18)	Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ 9,940,860 - 9,940,860 9,690,177 817,813 - 817,813 898,960 237,784 - 237,784 190,664 204,419 - 204,419 14,658 314 - 314 311 - - - - 45,699 - 45,699 57,372 20,210 - 20,210 4,597
	11,267,099 - 11,267,099 10,856,739
	153,671 - 153,671 115,335 11,342,725 - 11,342,725 10,530,015
	11,496,396 - 11,496,396 10,645,350
	(229,297) - (229,297) 211,359 538 - 538 (214)
	(228,759) - (228,759) 211,145
	(228,759) - (228,759) 211,145 6,165,466 25,202 6,190,668 5,979,523
	5,936,707 25,202 5,961,909 6,190,668

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

27 Related Party Disclosures

Warminster School Enterprises Ltd

Warminster School Enterprises Ltd is a company limited by shares, incorporated in the UK, registered number 2651234. Its registered office is the same as the address of the School on page 2. Warminster School Enterprises Ltd is under the control of Warminster School, as the Charity owns the entire share capital of this company. Expenditure of £133,761 was recharged to Warminster School Enterprises Ltd in the year (2024: £105,656). The balance owed to Warminster School at year end was £27,531 (2024: £107,590). As the results are not material for the year, they have not been consolidated within the financial statements.

The company’s debtors amounted to £33,433 (2024: £30,224) in respect of sales invoices that were outstanding at the year end.

The company’s creditors amounted to £38,188 (2024: £116,738), which was due in respect of purchase invoices outstanding at the year end and charges due to Warminster School.

The full trading results of Warminster School Enterprises Ltd are as follows:

	2025	2024
	£	£
Turnover	198,373	191,709
Cost ofsales	(130,585)	(103,635)
Gross profit	67,788	88,074
Administrationexpenses	(12,050)	(11,199)
Profit on ordinary activities before taxation	55,738	76,875
Taxon profit onordinary activities	-	-
Profit for the financialyear	55,738	76,875

The total shareholders’ funds as at 31 August 2025 was £72,119 (2024: £93,256).

Gift aid donation of £76,875 (2024: £45,699) was paid to Warminster School from Warminster Enterprises.

Scholarships and Discounts Awarded to Governors’ Children

There were no scholarships, discounts or other awards made to Governors’ children during 2024/25 or the previous year.

28 Post Balance Sheet Event

In January 2026 the School announced the intention to relocate the Prep School onto the Senior School site from September 2026. Subsequently the Prep School Land and Buildings were placed on the open market for sale with tenders invited for March 2026. The Land and Buildings have a value in the accounts of £1.48m.

On 5[th] March 2026 the School announced the intention to merge with QED Schools Group. QED Schools Group is a new global schools group built to challenge convention and prepare children for a rapidly changing world. QED will partner with Warminster School to protect its distinctive identity whilst bringing fresh resources, shared expertise and a future-facing approach that helps every pupil flourish.

Warminster School

Governors’ Report & Financial Statements

For the year ended 31 August 2025

Warminster School Governors’ Report & Financial Statements for the year ended 31 August 2025

Contents

Governors’ Report for the year ended 31 August 2025

Governors, Members and Advisors

Governors’ Report

Reference and Administrative Information

Structure, Governance and Management

Governing document

Governing body

Recruitment and Training of Governors and Senior Personnel

Organisational Management

Governors’ Report (continued)

Governors’ indemnities

Group Structure and Relationships

Objects, Aims, Objectives and Activities

Charitable Objects

Public Benefit aims and intended impact

Governors’ Report (continued)

Highlights of the year ending August 2025 :

Governors’ Report (continued)

Objectives for the year

To develop and nurture rounded individuals with a love of learning and strong moral values, within a supportive and inspiring community.

Academic Achievement

Pastoral Care

Co-curricular

Governors’ Report (continued)

Community and Outreach

Marketing and Admissions

Business Development

Governors’ Report (continued)

Principal activities of the year

Fee remissions policy

Strategic Report for the year ended 31 August 2025

Achievements and Performance

Whole School

Strategic Report (continued)

Academic

EYFS Profile results

Pastoral

Strategic Report (continued)

Strategic Report (continued)

Co-curricular

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Strategic Report (continued)

Charity

Sport

The Prep School

Strategic Report (continued)

Financial review

Financial statements

Reserves policy

Strategic Report (continued)

Investment policy

Principal Risks and Mitigating Factors

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Financial Risk Management

Material Uncertainty related to going concern

Strategic Report (continued)

Plans for the future

Academic Achievement

Pastoral Care

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Co-curricular

Community and Outreach

Warminster School Governors’ Report and Financial Statements for the year ended 31 August 2025

Strategic Report (continued)

Marketing & Admissions

Business Development

Strategic Report (continued)

Statement of Governors’ Responsibilities

Strategic Report (continued)

Connected persons

Independent Auditor