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← Manor Lodge School

2024-08-31-accounts

MANOR LODGE SCHOOL Acom an Lfmited b Guarantee COMPANY REGISTRATION NUMBER: 2829156 CHARITY REGISTRATION NUMBER: 1048874 GOVERNORS, ANNUAL REPORT INCLUDING THE STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

MANOR LODGE SCHOOL Acom an Limlted b Guarantee REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 CONTENTS PAGE Annual Report of the Governors including the Slrategic Reporl Report of the Independent Audilors 12- 15 stalement of Financial Activities Balance Sheet statemenl of cash flows Nofes fo the Financial Statements 19-32

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page I GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Board of Governors present Iheir annual report which also represents the direclors report as required by Company Law, and the audited financial stalemenls of Ihe Charity for the year ended 31 August 2024. The reporl has been prepared in accordance with Parl 8 of the Charilies Act 2011. The Governors have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accounling and Reporling by Charities IFR51021 applicable to charitie5 preparing Iheir financial stalements in accordance with the Financial Reporting Slandard applicable in Ihe United Kingdom and Republic of Ireland. The financial stalemenls have been prepared in accordance with Ihe Charity's memorandum and articles of association and with Ihe Companies Act 2006. OBJECTS, PUBLIC BENEFIT AIMS. OBJECTIVES AND PRINCIPAL ACTIVITIES The Objects of the Charity, in accordance with ils Memorandum of Associolion, are lo advance education in particular by establishing and carrying on in Great Brilain land any countries outside of Great Britain) schools al or by means of which students may obtain educalion and instruction in all subjecls whatsoever that may be included in a commercial, technical, scientific, classical or academic education, or may be conducive to knowledge of or skill in any Irade, pursuant or calling. In the furlherance of these objects Ihe Governor5, as the Charity Truslees, have complied with the duly in s.4 of the Charities Act 2011 to have due regard to the Charily Commission's published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under that Act. Prlncipal Acllvily The principal activity of Ihe School continues to be the provision of education for children aged belween 3 and I l. The School is set in an altractive eleven acre site within easy reach of Ihe M25, st Albans, Potters Bar and Cuffley, Radlett, Elstree, Stanmore and Edgware, and mosl other parts of Herlfordshire and north-west London. School Alms The Governing Board is responsible for setting a strategy for achieving the School's objeclives. As a charilable independent school, the slralegic aim is the atlainmenl of the highest academic levels. The School's aim is to draw out pupils, abilities and academic polential, whilst equally championing the pastoral focus of the school in teims of each child's wellbeing. Both ale deemed of equal importance. The School's bursary and admissions policies enable wide access to this education and the facilities by helping lower income or othewise disadvantaged families fo benefit if they cannot afford the School's standard fees. The Objects of the Charity, in accordance with ils Memorandum of Association, are lo advance education in particular by establishing and carrying on in Great Britain land any countries outside of Great Britain) schools at or by means of which 51udenfs may obtain education and instruction in all subjecfs whatsoever that may be included in a commercial, technical, scientific, classical or academic education, or may be conducive to knowledge of or skill in any trade, pursuant or calling. In the furtherance of these objects the Governors. as the Charity Trustees, have complied with the duty in s.4 of the Charities Act 2011 to have due regard to Ihe Charily Commission's published general and relevant sub-sector guidance concerning the operation of the Public Benefil requirement under that Act.

MANOR LODGE SCHOOL Acom an Limiled b Guarant Page 2 GOVERNORS. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 OBJECTS, PUBLIC BENEFIT AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES (conlinued) School Alms (contlnued) The School's specific aims are: To deliver a forward-thinking curriculum Ihat inspires intellectual curiosity within each child, promoles academic excellence and individual achievement. To offer a positive and stimulaling environmenl Ihal promotes the philosophy of 'learning without walls,. To encourage. support and invest in its staff to enable all individuals to thrive. To celebrale diversity and inclusivity in a communily Ihat values and cares for one another. To bring joy to childhood experiences by enabling the children to feel safe and secure in an environment where each voice is heard and well-being is nurtured. To develop awareness and understanding of, and respect for, the environments in which we live, and to secure our commifment to sustainable development at a personal, local, national and global level. To support initiatives that make us aclive members of society and fake a posilive sland against climate change, global poverly and the impact of our lifeslyles on our environment. Our Vision.. To unlock the inner potential al the heart of every child. To inspire a lasling feeling of belonging. To create memories that last a lifetime. Our Mission.. To create a culture where academic excellence, creativity and individuality are celebrated, To provide an innovative curriculum driven by curiosity and critical thinking. To inspire a sense of wonder and responsibility foi our world. Our Values: Be Positive Have Integrity Show Kindness Give your all Sustainabilify: To develop awareness and vnderstanding of, and respect for, the environments in which we live, and to secure our commilment to sustainable development at a personal, local, national and global level. To support inilialives that make us active members of society and take a positive sland against climate change, global poverty and the impacl of our lifestyles on our environment. The School is commilted to sofeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment.

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 3 GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Publlc Beneflt Our public benefit stralegy ensures that we are recognised as a valuable national and community asset. Our aim is to support local charities and lo build relationships and develop projects with other educational establishments. In the year 2023-2024, we again endeavored to build connections wilhin our communily and develop programs where possible. During World Book Week we gifted over 400 hundred children books featuring diversity, lo our local partnership school, Shenley Primary. We sponsored an author's visit lo Iheir Year 4 children and invited forly-four Year 5 and 6 children to altend a preview5howing of the Year 6 show, Malhilda followed by an outdoor learning experience. This year's House charity, Sebby's Corner, was voled in by Ihe children in Ihe Aulumn term. It is a local charity which provides essentia15 for babies and children who have fled domestic abuse or are in poverty acros5 London, Herts and Ihe Soulheast. During Ihe year Ihe children raised £4253.47 for charily, Ihe SLT donated their time. and Ihe House and Sports captains volunteered for an afternoon. The Parent hub also organised a toy drive at Christmas for Ihe charity which was very successful. All these initiafives are on top of our ongoing relationship with Ihe Vineyard Charity, Macmillian, the RSPCA and our collaboration with our Thomas Franks in their Feeding Communities projecl. Governors, Straleglc Plan for the School l. To determine the future size, composition and structure of the school that will maintain ils competitive position within the local and regional marketplace. 2. To idenlify and continuously review Ihe requirements needed to provide excellenl slandards of education and leaching, within well-resourced, innovative facililies. 3. To establish a sound financial basis lo support both current facilities and future developments. The Strategic Plan is reviewed annually by the Governors. Heod Teacher. Senior Leadership Team ISLTI and Senior Management Team ISMTI, who are jointly responsible for formulaling and implementing the plan. All developments are and will be considered and executed within the framework of this plan. Operollonal performance of the School At Ihe end of Ihe academic year there were 434 pupils on roll in the main School and 18 in Ihe Nursery. There was a Substantial waiting list for most year groups. At Manor Lodge, we strive to ensure that pupils are at least one year ahead of their chronological age. Analysis of INCAS12019-20241 dala shows Ihat on average the age difference is +2 Years. At I l +, on average over 98% achieve a preferred choice for secondory school, both private and stale. We have had an overwhelming success with scholarship resulls this year. Twenty-nine children have attained one or more scholarships and performance pathways from fifteen differenl schools, amounting lo a grand total of forty-nine scholarships. Academlc Sports Muslc/Choral Drama Art DT STEM Heads Total 23 49 Key Initialives undertaken in 2023- 2024 in line with the 5 Year plan: l. The new Curriculum was embedded Ihroughoul Ihe school. 2, The Slalfroom and a Staff Workroom were refurbished and opened to slaff in October 2023 3. The extension of the receplion classes- achieved summer lerm 2024. 4. The redesigned and construcled of a new reception playground - achieved summer lerm 2024. 5. The transfer of the School's management information systems to a more modern and integrated syslem allowing for greater efficiencies across the School. 6. The School's computer servers were replaced to supporl the greater integration of technology Ihroughoul the School,

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 4 GOVERNORS. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Key Iniliatives Iconlinued) 7. A partnership with Shenley Primary School was crealed. 8. Two breakout areas were created, and two new toilets were installed- Achieved Summer 2024. 9. A revamped prospeclus was launched. l O. A new Year 5 Irip took place lo supporl the new elhos at Manor Lodge. I l. The pond area was improved to help create an eco-friendly environment. 12. Al trailing look place by the IT Classroom Innovation Lead. Bursarles and public beneflt The Governors have given due consideration to the Charity Commission's guidance on public benefil. It is important to the School thal access is not restricted lo those who can afford the fees. The Bursary Policy contribules to a widening of access to the education Ihe School offers and the facilities available. The Governors continue to review the School's Bursary policy to ensure that able children can accept places offered at the School even if they are unable to afford the lees, and the policy is publicised on Ihe School's website. Bursary awards are available lo new enlrants who meet the School's entry crileria and also lo existing pupils, on the basis of parental means or lo relieve hardship. In assessing means. a number of factors are taken into consideration, including family income, savings, investments and family circumstances. However, the School does nol have an endowment fund so musl also ensure a balance between fee-paying parents, many ofwhom make considerable personal saciifices lo fund their children's education, and those benefitting from the awards. During the year, 21 pupils benefited from the staff fee reduction scheme and bursaries, the lasl calculated on a means-tested basis. Such benefits reduced annual fee income by £168,41712023: £148,790). Of this omount. bursaries tolaling £126,575 12023: £98,9121 supported 14 pupils by the remission in parl or in full of their fees. Bursary awards ranged from 10% to 100% remission of fees. In some cases, extra-curricular activities and school lunches were also supported by a bursary. Means- tested bursaries are reviewed annually and represented 2.OTo of the School's gross fee income in the 2023124 year. Fundralsing approach and performance The Governors are aware of the Charities (Protection and Social Investmenll Act 2016 and recognise the importance of meeting Ihe highest standards of practice and care in relalion to lundraising activities. The School only raises funds from parent5, Staff and those with a personal connection lo the School and does not undertake fundraising campaigns to members of the public, nor does it use the services of third party fundraisers. Volunteers The Parents, Hub meets regularly to organise and run social aclivities in order to raise funds for the School which are used to provide additional resources and octivilies for pupils. The Board would like to take this opporlunily to express ils apprecialion for this valuable and continuing support from the parents. Since Ihe year end a sum of £25,000 has been generously given by The Hub towards the planned outdoor learning kitchen for use by all children.

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 5 GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 PRINCIPAL RISKS AND UNCERTAINTIES Manor Lodge has rigorous procedures in place to review all major risks. The robusl system is reviewed annually and the School's Risk register is presented to Ihe Governors each academic year for ratification. This works alongside the School Developmenl plan 2023-28 which outlines the Governors, strategic plan for the school, Rlsk Reglsfier The Manor Lodge Risk Register allows senior managers and the governing board to plan for, track and monitor key risks and risk controls for the whole school. The Risk regisler records the main perceived risks to our financial and slrategic aims. The Risk Register analyses: The financial procedures and conlrols; The major risks to the School, including: strategic risk Loss of fee income Damage to repulalion Failure to teach the current syllabus Risk of a child protection issue Gaps in Governor skills Conflicl of interest Employmenl disputes Major health and safely issues Possible dala loss Risk of fire, flood and land slip Poor cash flow management Fraud Loss through inappropriate inveslmenls The key controls used to prolect Ihe School against such risks include.. Annual review of Ihe risk register Annual review of the Development Plan Safer recruilment, training and appraisal of staff, Governors and volunteers Appropriate lerms of reference and formal agendas for each committee of the Board strong financial controls Ihat are regularly reviewed including clear reporting lines, financial authorisation levels and the financial reserves policy Regular health & safety and fire audits Use of professional advice from such professionals as lawyers, accounlants, Health and Safety consultants and architects as required Insurance Formal review of compliance with the School's charitable objectives The principal risks and uncerlainties currently facing the School are as follows: Impact ol Governmenl leglslallon Changes in charily taxation, including business rates, VAT, corporation tax, national insurance. Cost increases lo mandalory employers, contribulions to the Teachers, Pension Scheme, External economic factors and the suslalnablllty of fee Increases Change in polilical climale regarding charities and tax reliefs provided to independenl schools. Change in political and economic situation impacting parents, ability to pay fees and withdrawing pupils accordingly. Rising cosl of energy prices and olher inflalionary factors. An epidemic or pandemic affecting the finances, operation and/or reputation of Ihe school.

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page 6 GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 PRINCIPAL RISKS AND UNCERTAINTIES (contlnued) External miligatlng circumstance5 The continuing success of the School is dependent on continuing lo attract applicant5 by moinlaining high academic slandards. Cyber-attack Irom an external source. Manor Lodge has 'Cyber Essentials, accreditation, in order fo minimise exposure to cybercrime and Safeguarding risks. Maintaining classroom lechnology resources and teacher skills at an appropriate level in the face ol rapid fechnological advance and protecting the school and its assets The rislng costs of malnlalnlng the fabrlc of the school, In partlcular the Ilsted bullding Increosing cosls of mainlenance of the Grade11 listed school buildings and grounds. Maintaining fhe 5 Year plan major developmenl project le.g. budget, accident, power supply, etcl. PAY SETTING ARRANGEMENTS Pay and remuneralion for the School'5 senior management team is reviewed annually in detail by Ihe Governors. Levels are agreed by Ihe Governors with reference to IAPS and AGBIS benchmarks and national teaching pay scales. Members of the senior leadership team are appraised biannually. FINANCIAL REVIEW AND RESULTS FOR THE YEAR The School continued to supporl families by offering hardship funds and other financial assistance lo those in need. Nonetheless, this was a successful year financially as pupil numbers remained strong and financial controls tighf in anticipalion of the introduction of VAT on school fees as well as capilal requirements underpinning the 5 Year Plan as detailed in Ihe Future Plans section overleaf. The Company's net income for Ihe year of £501,52512023'. £609,217) is Set out in the slatemenl of financial activities. ReseNes The linancial statements shows the assets and liabililies attiibutable lo Ihe solitary fund lunreslricted} used by the School. The statemenl of financial activities summarises the movements on this fund. At the year end, unrestricted funds amounted to £10,292,43212023.' £9,790,907). The majority of the reserves are invested in tangible fixed assets, supported by longer term loans. This leaves free reserves of £316,43612023: £435,3521. It will be some years before the bank loans are repaid las summarised in Note 15 to the linancial statemenfsl and the School has funds available to be maintained in appropriale cash reserves, Once this position arises the Board has concluded Ihat, to allow the School to be managed efficiently and lo provide a buffer for uninterrupled Services, a general cash reserve that equales to six months of overhead expenditure should be built up and mainlained. Recent surpluses will be reinvested into the school buildings and facilities in line wilh the developmenl plan. Capltal Expendituve The need to maintoin and enhance the infrastructure of Ihe School resulled in capitol expendilure for the year ot £1,580,38012023: £824,198) as summarised in Note 12 to the accounts.

MANOR LODGE SCHOOL Acom on Limited b Guarantee Page 7 GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Investmenl Pollcy The company has full powers of investmenl of its corporate reserves as stated in the Articles of Association. The Board continues to keep under review the investment risks and rewards in the current slate of the markel and lake professional advice as necessary. The overall financial objective is to at least maintain the real value. As set out in note 13, inveslment gains of £35,74812023.' loss of £14,559) which iepresent an approximate relurn of 810 on capilal invested. The Ralhbone Core Investment Fund for Charities is ethically screened lo avoid direct investment in a number of categories in line with the Board's expectalions. Golng concern The Governors have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity lo continve as a going concern. The governors have made this assessment for a period of at leasl one year from the date of approval of the financial statements. After making enquires. the governors have concluded that there is a reasonable expectation Ihat the charily has adequate resources to continue in operalional existence for the foreseeable future. The accounls are therefore prepared on the going concern basis. FUTURE PLANS The school's fulure plans are set out in the Whole School Five Year Development plan 2023-2028. This will be reviewed annually by Ihe Governors, Head Teacher and senior leadership and managemenl teams. who are jointly responsible for formulating and implementing the plan. All developments are considered and execuled wilhin the framework of this plan. The development plan works in conjunction wilh the 5-year plan which allows for phased development which can be adapted to the school's financial position in each given year. The five year plan will be reviewed and modified in the academic year 2024-2025. Key Initialives for 2024- 2025 in line with the 5 Year Plan will include: The five-year plan is a flexible document allowing for pauses when required. With Ihe planned VAT increases, the initiatives indicated were streamlined to ensure that Manor Lodge is in the best possible financial place to react lo markel forces. Limited areas of development are planned for: l. Modernisation of the Nursery classroom- Summer 2025 2. Outdoor cooking facilities- academic year 2024- 2025 In September we will be launching the new vision initiatives for Manor Lodge: Learning based on experience against an Al backdrop. 2. A campaign to say no lo mobile phones,

MANOR LODGE SCHOOL Acom an Limited b Guaranlee Page 8 GOVERNORS. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Documenl The Charity is governed by its Memorandvm and Arlicles of Association. originally drawn up on l June 1993 and last amended on 12 March 2020. Governlng Body The Governors. who are also required undei the Articles to serve as Directors of the Charily and Trustees of the Charity, are elected at a full general meeting. Governors are appointed for a term of three years. They can be re-elected. A full list of governors is given on page 12. Inductlon, Recrultmenl and Tralnlng of Governors Potenlial Governors are identified by recommendalion from existing Governors, the Head Teacher or Parents. They are considered by the Board on the basis of professional or business experience. specialist skills and personal competence. New Governors are inducted into the workings of the company a5 a school and also as a registered charily, including ils Board Policy and Procedures. All Governors receive a copy of the Association of Governing Bodies of Independent Schools IAGBISI publicalion 'Guidelines for Governors, and are required to abide by the Governors, Code of Conduct. Training opportunilies are regularly publicised to and taken up by the Governors. Further information is provided by the Chair of Governors, Head Teacher and Bursar, as necessary. Organisatlonal slruclure The Governors meet as a Board al least once a term to determine the general policy of the School and to review ils overall managemenl and control. for which they are legally responsible. The implementalion of mosl of the Board's policies is carried out by the Finance and General Purposes Committee Ichaired by Mr G Blackl. Ihe Educalion Committee (chaired by Dr T Lee) and the Governance, Nominalions and Remuneralion Committee (chaired by Mr D Ainoldl. The Education & Finance and General Purposes Commillees meel at least once a term, prior to Ihe full Governors, Meeling, lo review the budget. monthly management accounts, annual report and accounls and all other relevant matlers. The Governance, Nominalions and Remuneration Committee meets at least once a year lo review Ihe remuneralion of the Senior Leadership Team & on an ad hoc basis to manage the succession planning for Governors. The School's Health and Safety Managemenl Committee reviews the School's work and leisure practices and monitors Risk Assessments and is chaired by a designaled Governor Imrs L Selby until 16 Januory 2025, Mrs J Sharpe from 16 January 20251. The designated Governor for safeguarding is Mr S Wilson. The day to day management of the School is delegafed to the Senior Leadership Team: the Head Teacher, the Depuly Head Academic, the Deputy Head Slandards and Co-curricular. the Deputy Head Pastoral and the Bursar. Relatlonships wlth relaled partles and aff Illated bodies The School is a member of the Independent Association of Prep Schools IIAPSI, the professional association for Heads and Depuly Heads of the leading 660 independent preparatory schools in the UK and worldwide. Members of the senior management leam regularly attend discussion forums with Iheir peers from other preparatory schools in the area in orderto enhance Ihe qualily and scope of the lessons given within Ihe School. The School is also a member of AGBIS, which provides governance advice, and the Independent Schools, Bursars Association IISBAI, which promotes the efficient and eflective management of the non-academic aspects of independenl schools.

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page 9 GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The School is a Green-Flag Eco-school, an international group of schools working towards education for sustainable development and a betler quality of life for local and global communities. By following Iheir framework, the School aims to become a more stimulating place in which to leain, whilst reducing the environmental impact on the communily. The children's involvement is key and they have been involved from outset in activities such as producing ideas for project; recycling, reducing and re-using waste; decision making; monitoring and aclion planning. OFFICERS, LIABILITY INSURANCE The company mainlains insurance policies on behalf of all the Governors against liabilify arising from negligence, breach of duty and breach of Irusl in relation lo the company. STATEMENT OF GOVERNORS, RESPONSIBILITIES The Governors, as Directors of Ihe Charily for the purposes of company law, are responsible for preparing the Governors, Annual Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Praclicel, Company law requires the Governors lo prepare financial stalements for each financial year, which give a true and fair view of the slate ot affairs of the charitable company and of the incoming resources and applicalion of resources, including the income and expenditure, of the charilable company for the year. In preparing these financial statements, the Governors are required to: select suilable accounling policie5 and then apply them consistently.. observe the methods and principles in the Charities SORP IFRS 102}; make judgements and esfimates thal are reasonable and piudenl; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements. prepare the financial slalements on the going concern basis unless it is inappropriate to presume thal the charitable company will continue in operation. The Governors are responsible for keeping adequale accounling records that disclose with reasonable accur(Jcy at any time the financial position of the charitable company and enable them to ensure that the financial stalements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable company and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularilies. DISCLOSURE OF INFORMATION TO THE AUDITORS The Governors who held office at the dale of approval of these financial stalemenls as set out above each confirm, so far as Ihey are aware. that: Ihere is no relevant audil information ofwhich the charilable company's auditor is unaware; and the Governors have laken all steps that they ought to have laken to make themselves aware of any relevant audil information and lo establish that the audilor is aware of that information. This confirmation is given and should be interpreled in accordance with Ihe provisions of S418 of Ihe Companies Act 2006.

MANOR LODGE SCHOOL Acom an Limiled b Guoranl Page 10 GOVERNORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Governor's Annual Report which includes the Strategic Report has been approved by the Board of Governors in their capacily as Directors of the Company on 20 March 2025 and signed on its behalf by: Mr D Arnold MBE Chairman Rectory Lane Ridge Hill Shenley Radleti Hertfordshire WD7 9BG

MANOR LODGE SCHOOL Acom an Limited b Guoranlee Pogell REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 AUGUST 2024 Manor Lodge School Limited (the Charity) was incorporated as a charitable company on 22 June 1993 and commenced activities on 19 November 1993. The Charity changed ils name from Forestpost Limited to Manor Lodge School Limited on 4 May 1995, and arranged pursuanl lo Section 6011 I lal of the Companies Act 2006 to have the word "Limited omitted from the Charity name. The School registered as a Charily with the Charily Commissioners on 25 August 1995, number 1048874 (England and Wales). The Regislered Office and principal address ol the Charily is at Manor Lodge School. Rectory Lane, Ridge Hill, Shenley, Radlelt, Hertfordshire WD7 9BG. Ils registered company number is 2829156 (England and Wales). Governors The Governors of Ihe School, who are also Directors of Ihe Charity and the Charily trustees, during the year were.. Mr D Arnold MBE # + (Chairman) Ms J Sanderson Neil. Appointed 20 March 2025 DrTDLee'+ (Vice Chairman) Mr J Segal Resigned 21 March 2024 Mr G Black # Resigned 20 March 2025 Mrs L Selby # @ Resigned 20 March 2025 Mrs S Coventry ' Ms J Sharpe # @ Appointed 20 March 2025 Mr A Devani # + Mr W Thorp # Mr5 E Eve-Raw' Mr S Wilson ° $ Mrs A Hems, Mr A Williams Ms M Jones. Mrs H Williams # Appointed 17 Nov 2023 Appointed 20 March 2025 Resigned 17 Nov 2023 Appoinled 20 March 2025 * Member of the Educalion Committee

Member of Finance and General Purposes Commillee

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2024 Page 12 Oplnlon We have audited Ihe financial slalements of Manor Lodge School (the 'charitable company'l for the year ended 31 Augusl 2024 which comprise the Slatement ol Financiol Activilies, the sfatement of cashflows, and the Balance Sheel and noles lo Ihe financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparalion 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 slatemenls: give a true and fair view of the stale of the charitable company's affairs as al 31 August 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year Ihen ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practice; and have been prepared in accordance wilh the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities under those slandards are further described in the Audilor's responsibilities foi the audit of the financial statements seclion ol our report. We are independent of the charitable company in accordance with the elhical requirements Ihat are relevant lo our audit of Ihe financial statements in the UK, including the FRC'S Elhical Slandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficienf and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing Ihe financial statements, we have concluded that Ihe governois, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainfies relaling to evenls or condition5 Ihal, individually or collecfively, may casl significanl doubt on the entity's abilily to continue as a going concern for a period of at least twelve months from when the financial statements are authoiised for issue. Our responsibililies and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report. Other Informatlon The other information comprises the information included in fhe Governors, Annual Report, other than Ihe financial stalemenls and our auditor's report Ihereon. Our opinion on the financial statemenls does not cover the otherinformalion and, except to Ihe 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 inconsislent with Ihe financial slatements or our knowledge obtained in Ihe audif or olhemise appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are required to delermine whether there is a material misstatement in the financial statements or a material misstalement of the other information. If, based on the work we have performed, we conclude thal there is a material misstalemenl of this other information. we are required fo report that fact. We have nothing to report in this regard.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2024 Page 13 Opinions on other matters prescrlbed by the Componles Acl 2006 In our opinion, based on the work underlaken in the course of the audil.. the information given in the Governors, Annual Reporl (incorporating the Strategic Reporll for the financial year for which the linancial stalements are prepared is consislent wilh Ihe financial stalements,. and Ihe Strategic Reporl and the Governors, Annual Report have been prepared in accordance wilh applicable legal requirements. Matters on whlch we ore requlred to report by exception In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of Ihe audit, we have nol identified material misstalements in the Governors, Annual Report lincorporaling Stralegic Reporti. We have nothing to report in respect of the following malters in relation to which the Companies Acl 2006 requires us lo report lo you if, in our opinion: adequate accounting records have not been kepl, or retums adequate for our audit have not been received from branches not visited by us,. or the financial statements are nol 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. Responslbllltles of Governors As explained more fully in the Governors, responsibilities statement set out on page 9. The Governors Iwho are also the directors of the charilable company for the purposes of company lawl are responsible for the preparalion of the financial statements and for being satisfied thal they give a true and fair view, and for such internal control as Ihe Governors determine is necessary lo enable the preparation of financial statemenls that are free from material misslalement, whether due to fraud or error. In preparing the financial slalements, the Governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing. as applicable, mallers related to going concern and using the going concern basis of accounting unless the Governors eilher intend to liquidate the charitable company or to cease operations, or have no realistic allernative but to do so. Audltoi's responslbllllies for the audll ol the flnanclal slalements Our objectives are to oblain reasonable assurance about whelher the financial slatements as a whole are free from malerial misslatement, whether due to fraud or error, and to issue an audilor's report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit conducted in accordance with ISAS IUKI will always delecl a material misslatement when it exists. Misstafemenls can arise from fraud or error and are considered material if, individually or in the aggregate, Ihey could reasonably be expected lo influence the economic decision5 of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misslatemenls in respecl of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. is detailed below.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2024 Page 14 The objectives of our audit in respect of fraud, are; to identify and assess the risks of malerial misslatemenl of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misslalement due to fraud, through designing ond implementing appropriate responses fo those assessed risks,. and lo respond appropriately lo instances of fraud or suspected fraud idenlified during the audil. However, the primary responsibility for the prevention and detection of fraud resls with both managemenl and those charged with governance ol Ihe charitable company. Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable to Ihe charitable company and considered that the mosl significant are Ihe Companies Act 2006, the Charities SORP IFRS1021, and UK financial reporting standards as issued by the Financial Reporting Council. We considered provisions of other laws and regulations that do nol have a direct effecl on the financial statements but compliance with which might be fundamental lo the charity's ability to operate or to avoid a material penally. We also considered the opportunities and incentives Ihat may exist within the charity for fraud. The laws and regulalions we considered in this context for the charily were the Charites Act 2011. The Education Ilndependent Schools Slandardsl Regulations 2014, Health and Safely, Safeguarding, Food Standards. Charity Commission regulations and Dala Protection Regulation. Audiling slandards limit the required audit procedures to identify non-compliance with these laws and regulations lo enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial slatements from irregularities, including fraud, to be wifhin the timing of recognition of fee income and the override ol contro15 by managemenl. Our audil procedures to respond lo these risks included inquiries of managemenl including their own identification and assessment of the risks of irregularitie5, sample testing on income and Ihe posting ofjournals. reviewing accounling estimote5 for biases, reviewing regulalory correspondence with the Charity Commission Independent Schools Inspeclorate and reading minutes of meetings of Ihose charged with governance. Our audif procedure51o respond to revenue recognition risks included sample testing of income across the year to agree to supporting documentalion and fesling income either side of Ihe year to ensure this has been correctly recognised. There are inherent limitations in the audil procedures described above. We are less likely to become aware of instances of non-compliance wilh laws and regulations that are not closely related lo events and transactions reflected in the financial slatements. Also, the risk of not delecting a material misstatement due lo fraud is higher than the risk of nol detecling one resulling from error, as fraud may involve deliberate concealmenl by, for example, forgery or intentional misrepresentations, or Ihrough collusion. A further description of our responsibilities for the audit of the financial statements is located on the Finoncial Reporting Council's website at: hti www.frc.or .uk auditorsres onsibililies. This description forms part of our auditor's report.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2024 Page 15 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 mighl state to the charilable company'5 members Ihose matters we are required lo state to them in an audilor's report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibilily lo 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. Nlgel Balfour FCA (Senior Statutory Auditor) For and on behalf of Balfour Sanson statutory Audllors Chartered Accounlanls 17 Bovrne Court Soulhend Road Woodford Green Essex, IG8 8HD Date

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 16 STATEMENT OF FINANCIAL ACTIVITIES includin an Income and Ex endllure Account FOR THE YEAR ENDED 31 AUGUST 2024 Total (Unrestricted) 2024 Total {Unreslricted) 2023 Notes INCOME FROM: Charitable activities other trading activities Investments Voluntary sources 6,711,681 45,833 102,292 6,237,457 76,038 92,862 5,696 Total Income 6,859.806 6,412,053 EXPENDITURE ON: Charltable Expendllure Raising funds Charitable aclivities 4,416 6,389.613 23.850 5,764.427 Total expendlture 6,394.029 5,788,277 NET GAINS / (LOSSES) ON INVESTMENTS 13 35,748 114,5591 NET INCOME AND NET MOVEMENT IN FUNDS 501,525 609,217 RECONCILIATION OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 9,790.907 9,181,690 TOTAL FUNDS CARRIED FORWARD 10,292,432 9,790,907 All of the above results are derived from continuing activilies. All gains and losses recognised in the year ale included above. The altached notes form parl of these financial statements.

MANOR LODGE SCHOOL Acom an Limited b Guarantee COMPANY REGISTRATION NUMBER: 2829156 Page17 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Noles FIXED ASSETS Tangible Asset5 Inveslmenls 12.559,225 501,787 11,487,907 393,719 13,061,012 11,881,626 CURRENT ASSETS Debtors Cash at Bank and in hand 14 198,002 2,267,240 202,077 1.958,309 2.465,242 2,160,386 CURRENT LIABILITIES Credilors: Amounls falling due within one year 2,148,806 1,725,034 NET CURRENT ASSETS 316,436 435.352 TOTAL ASSETS LESS CURRENT LIABILITIES 13,377,448 12,316,978 CREDITORS: Amounts falling due after more than one year 3,085,016 2,526,071 TOTAL NET ASSETS 10,292,432 9,790,907 CHARITY FUNDS Unrestricted funds 10,292,432 9,790,907 Approved and authorised for issue by the Board of Governors on 20 March 2025 and signed on ils behalf by: Mr D Arnold MBE Chairman The attached notes form parl of these financial stalements.

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page 18 STATEMENT OF CASH FIOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Note Cash flow from operating activitles Inleresl paid 2,144.036 194.2531 1,457.688 1103,0121 Net cash flow from operatlng activltles 2.049,783 1,354,676 Cash flow from Investlng actlvltles Payments to acquire tangible lixed assets Purchase of fixed assel inveslments Interest received Dividends received 11,580,380) 160,000} 94,116 8.176 1824,1981 152,500) 85,314 7,548 Net cash flow from Investlng actlvllles 11,538,088) 1783.8361 Cash flow from flnanclng aclivlties Net Idecreasel in loans Increase in deposits held 1254.2641 51,500 1249,1741 31,500 Nel cash flow from flnanclng activltles 1202,764) 1217,6741 Nel Increase in cash and cash equlvalents 308,931 353,166 Cash and cash equlvalents ot I September 2023 1,958.309 1,605,143 Cash and cash equlvalents at 31 August 2024 2.267,240 1,958,309 Cash and cash equlvalents consists of: Cash at bank and in hand 2,267,240 1,958,309 2.267,240 1,958,309 The notes form part of these financial statements.

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 19 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES General Informatlon and basls of preparallon Manor Lodge School is registered as a charity with the Charily Commission and incorporated as a privale limited company in England and Wales. Manor Lodge School is a company limited by guarantee. Every member of the Company undertakes to contribute such amount as may be required Inot exceeding £1 I lo the company's assets if it should be wound up while he or she is a member or within one year after he or She ceases to be a member, for paymenl of the company's debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjuslment of Ihe rights of the contributories among themselves. The address of the regislered office is given in the charity informalion on page 12 of these financial statemenls. The nature of the charity's operations and principal activities are as presenled on page 4 of these financial slatemenls. The charity constitutes a public benefit entily as defined by FRS 102. The financial statements have been prepared in accordance with Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their financial stalemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (the FRS 102 Chariles SORPI, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and the Companies Act 2006. The financial statements are prepared on a going concern basis under the historical cost convenlion. The financial statements are prepafed in slerling which is the functional currency of the charily and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless olhewi5e staled. (al Golng concern The Governors have asse55ed whether the use of the going concern basis is appropriate and have considered possible events or condilions thal might cast significanf doubt on the ability of the charity lo continue as a going concern. The governors have made this assessment for a period of al least one year from the date of approval of the financial sfalements. After making enquires, the governors have concluded Ihat there is a reasonable expeclation thal the charity has adequate resources lo continue in operational existence for the foreseeable future. The accounts are therefore prepared on the going concern basis. Ibl Funds Unre5tflCted funds are available for use at the discretion of the Governors in fvrtherance of the general objectives of the charily and which have nol been designated for olher purposes. Icl Income recognlllon School fees represent amounls receivable for edvcational services provided including ancillary fees charged for regislralions, clubs, lunches and other aclivilies. All incoming resources are included in the Statemenl of Financial Activities ISOFAI when the charity is legally entilled lo the income afler any performance conditions have been met, the amount can be measured reliably and it is probable thal the income will be received. No amounl is included in the financial statements for volunteer time in line with the SORP IFRS 1021. Furlher delail is given in the Governors, Annual Report. Income from tiading activities include5 income earned from fundraising events and trading activities lo raise funds for the charity. Fees receivable consisl of charges billed for the school year ending 31 August less bursaries and allowances. Adjuslments have been made to defer invoiced fees relating lo the Autumn term, which commences in the next financial period lo ensure that no income relating to the nexf financial year is included in Ihese financial statements. Any payments received relating to this term have been Irealed as fees in advance under creditors.

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 20 NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2024 Icl Income recognlllon (contlnued) Income from governmenl or other grants is recognised only when the charity has entillement to the lunds,. any performance condilions allached to the grant have been met.. il is probable that the income will be received and Ihe amounl can be readily measured. Expenditure recognltlon All expendilure is accounted foron an accruals basis and has been clossified under headings that aggregale all costs related to Ihe category. Expenditure is recognized where there is a legal or conslruclive obligation to moke paymenls lo third porties, il is probable thal Ihe setllement will be required and the amounl of the obligation can be measured reliably. It is calegorized under the following headings.. Cosls of raising funds; Expenditure on charitable aclivities as set out in Note 610 the financial slalements; and other expenditure represents fhose items not falling into the categories above. Idl Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Support costs allocatlon Support costs are those that assist Ihe work of the charily but do nol directly represent charitable aclivities and include office costs, governance costs. and administrative payroll costs. They are incurred directly in support of expenditure on Ihe objecfs of the charity. Where support costs cannot be directly attribuled to parlicular headings Ihey have been allocated lo Ihe cost of raising funds and expenditure on charitable activities on a basis consistent with use of Ihe resource5. lel Fund-raising cosls are those incurred in seeking non-mandatory contributions. The analysis ol these costs is included within nole 6 to the financial statements. Tangible flxed assets Tangible fixed assets are included at cost including any incidenfal expenses of acquisilion. Costs include any costs directly altributable to render the asset capable of use a5 inlended. Depreciation is provided on all tangible fixed assets at rates calculated to write off Ihe cost less eslimaled residual value. on a syslematic basis. over Iheir expected useful economic lives as follows: Freehold land Freehold buildings Furniture and equipment Compuler equipment Leasehold property NIL over 50 years on a straighl line basis over 5 years on a straight line basis over 4 years on a slraight line basis over the period of the lease Igl Investmenls Inveslments are recognised inilially at fair value which is normally Ihe transaction price excluding transaction cos15. Subsequently they are measured at fair value wilh changes recognised in 'net gains/llossesl on inveslmenls" in the Slatement of Financial Activities if Ihe shares are publicly traded or their fair value can othewise be measured reliably. Financlal Instrumenls The charity ha5 elected to apply the provision5 of Section I I 'Basic Financial Instruments and Section 12 '01her Financial Inslrumenls Issues" of FRSI 02 to all of ifs financial instruments. Financial instruments are recognised in the company's balance Sheet when the charity becomes party lo the conlractual provisions of the instrument. Financial assets and liabilities are offsel, wilh the nel amounls presented in Ihe financial slatemen15 when Ihere is a legal enforceable right lo set off the recognised amounts and there is an intenlion to settle on a nel basis or to realise Ihe asset and sellle the liability simullaneously. Ihl

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page 21 NOTES TO THE FINANCIAL STATEMENTS - contlnue FOR THE YEAR ENDED 31 AUGUST 2024 Ihl Flnanclal Instruments (continued) al Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expendilure bl Loans and borrowings are initially recognised at the transaclion price including transaclion cosls. Sub5equenlly, they are measured at amortised cost using the effeclive interest rate method. less impairment. If an arrangement conslitules a finance Iransaclion it is measured at present value. cl Financial inslrvments held al amortised cosl are fees receivable, olher deblors, cash at bank, bank loans, other creditors, scheme fees paid in advance. deposits held and accruals. Cash and Cash Equlvalenls Cash and cash equivalents include cash in hand, deposits held al call with banks and other short term liquid investments with original malurilies of Ihree months or less. Impalrment Assels nol measured at fair value are reviewed for any indicalion Ihot the assel may be impaired al each balance sheet date. If such indication exists, the recoverable amount of the asset is estimaled and compared lo the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment 1055 is recognised in the income and expenditure account unless the asset is carried at a revalued amounl where Ihe impairment loss is a revalualion decrease. Ikl Leases Renlals payable and receivable under operaling leases are charged to the Slalement of Financial Activities on a slraighl line basis over the period of the lease. Employee beneflts (inclvdlng pensions) When employees have rendered service to the charity, short-term employee benefits lo which the employees are entitled are recognised al the undiscounted amounl expecled to be paid in exchange for thal service. The charity recognises termination benefits as a liabilily and an expense within the financial statements only when there is a demonstrable commitment to do so. The Charity conlributes to the Teachers, Pension Defined Benetits Scheme at rates set by the Scheme Acluary and advised to the Board by the Scheme Administrator. The scheme is a multi-employer pension scheme and it is not possible to identify the a5sels and liabilities of the scheme which are altributable to Ihe School. In accordance with FRS102 therefore, the scheme is accounted for as a defined conliibution scheme. The Charity also contributes to a group personal pension scheme for non-leaching staff at up to 6.0% of annual basic pay. Contributions lo both schemes are charged in the SOFA as Ihey become payable in accordance with the rules of the schemes. Im) Taxatlon The Charity is considered lo pass the lests set out in Paragraph I Schedule 6 Finonce Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I ol the Corporation Tax Acl 2010 orsection 256 of the Taxation of Chargeable Gains Act 1992, lo the extenl that such income or gains are applied exclusively lo charitable purposes. Value added taxotlon For the period under review the Charity's aclivilies are outside of the scope of value added tax, il was therefore unable lo reclaim any input lax. Consequently, value added lax on any capilal expenditure is capitalised as part of the cost of Ihe assel acquired and value added lax on resources expended is added lo the parlicular expense in the Stalemenl of Financial Activities. In)

MANOR LODGE SCHOO Acom an Limited b Guarantee Page 22 NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2024 lol Parents, deposlts The Governors have reviewed the conlracl lerms under which pupil fee deposits are held by Ihe School. These deposits will be repaid over fulure years when the pupils complele their education at the school. In accordance wilh the Charilies SORP FRS 102, the balances for parents, deposits are inilially iecognised and measured at the amounts received, with the carrying amount adjusted in subsequent years to reflect repoymenls and adjusted if necessary for any impairment. (pl Advance Fee Scheme The school has introduced a scheme which offers porents the opporlunily to pay for school fees in advance in accordance with the terms and conditions of an agreed conlract. Monies received under the scheme are held within unreslricled funds and presented os a liability wilhin the balance sheet. These funds are then released to income in the accounting period from the liability shown relevant to the number of terms fees paid in advance per Ihe scheme contract. Iql Judgements in opplying accountlng pollcles and key sources of eslimallon uncertalnty In the application of the Charily's accounting policies, which are described in note I, Governors are required to make judgements, eslimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The eslimales and underlying assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from Ihese estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if Ihe revision affects Ihe current and future periods, The Governors consider that there are no material judgements in applying accounting policies or key sources of eslimalion uncerlainly. Crlllcal Judgements Useful Economlc Llves The annual depreciation charge for property, plant and equipment is sensitive fo changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to rellect current estimates based on technologicol advancement, future investments, economic utilisation and the physical condition of the assets. See nole 12 for the carrying amount of the property, plant and equipment and note I If) for the useful economic lives for each class of asset.

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 23 NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 School fees receivable Gro55 fees Less: Discounts, scholarships and bursaries 6,264,166 1168,4171 5,850,660 1148.7901 6,095,749 5.701,870 Clubs. school lunches and other aclivilies Registralion fees 597,407 18,525 514,887 20,700 6,711,681 6,237,457 3. INCOME FROM OTHER TRADING ACTIVITIES 2024 2023 Net café income Income from lund raising even15 Hire of facilities other 17.045 15,679 12,515 594 8.732 52,986 14,320 45.833 76,038 4. INCOME FROM INVESTMENTS 2024 2023 Interest- Deposit and current account Dividend income 94,116 8,176 85,314 7,548 102,292 92,862 5. VOLUNTARY SOURCES 2024 2023 Donations and gifts 5,696 5,696

MANOR LODGE SCHOOL Page 24 NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES AND ALLOCATION OF SUPPORT AND GOVERNANCE COSTS The Governors consider Ihat the Company is engaged in only one category of chartlable activity namely that of the provision of educalion. Analysis of charitable activity, governance and supporl costs 15 as follows: Direcl charllable actlvlty Support Governance Costs Functlon 2024 Tolal 2023 Total Salary and employee costs Premises and overhead costs Catering costs Amorlisalion Depreciation School aclivities and excursions Educational supplies other costs Finance costs including loan interest Legal & professional fees Audit remuneration 3,349,216 861.166 10,764 4,221,146 3,687,639 613,235 306,979 307,243 201,819 613,235 306,979 307,243 201,819 521,147 324.013 281,289 163.204 202,594 82,161 5,225 202,594 82.161 244,767 185,046 61,163 354,665 239.542 96,104 86,812 96,104 95.345 18,220 105,297 61.184 19,780 8,533 18,220 3,639,196 2,712,900 37,517 6,389,613 5,764,427 Please refer to Note 22 for the comparalive analysis ol expenditure on charitable activities and allocalion of supporl and governance costs. 7. NET INCOME FOR THE YEAR Nel income for the year Is staled after charglng: 2024 2023 other expenditure includes: Fees payable lo the Company's auditor for Ihe audit of Ihe Company's annual accounts for other audil work on behalf of Ihe Company Amorlisation & Deprecialion- owned assets Operaling lease rentals Land and buildings Fitlings and equipment Net gain / (loss} on inveslments Loss on disposal of tangible fixed assels 16,520 1,700 509,062 75.941 53,804 35,749 18,380 1,400 444,483 72.766 8,135 114,5591 131,621

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 25 NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2024 8. GOVERNORS, AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES The Governors neither requested nor waived any emolumenls during the year £Nil12023: £Nill. During Ihe year, no expenditure was reimbursed lo any Governor by the School12023'. £3.721 for the payment of staff travel and accommodation expendilurel. The total amount of employee benefits received by key managemenl personnel was £551,876 12023: £444,480). The School considers its key management personnel comprise members of the School's senior management team. 9. STAFF COSTS 2024 2023 Wages and Salaries Social Security costs Pension costs Olher employee benefits 3,222.713 337,244 579,853 62,076 2,922,401 293,424 461,767 62,656 4,201,886 3,740,248 Total redundancy/termination payments made during the year amounted to £NIL 12023.. £36,892). The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 in Ihe year was as follows.. 2024 Number 2023 Number £60,001- £70.000 £70,001- £80,000 £80,001- £90,000 £110,001- £120.000 £120,001 - £130,000 The number of higher paid employees who accrued benefits under a defined benefit pension scheme was 412023: 21. The average number of employees and full time equivalent IFTEI analysed by function during the year was made up as tollows: 2024 Number 2023 FTE Number FTE Charitable oclivities (Teaching and supporti Administralion 81 64 74 62 93 75 90 74

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page 2 NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2024 10. INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023 Bank loan interest payable 94,253 103,012 T I. PENSION COSTS ol Defined contribution pension scheme. The company contributes to a defined conlribution scheme on beholf ot eligible members of ils non-teaching staff. Contributions are charged in the stotemenl of financial activities as they occrue. The charge for the year was £54.82012023: £47.6591. Conlributions payable as at 31 August 2024 in respect of non-leaching staff were £7,98812023: £7.8071. b) Teachers, Pension Scheme The School participates in the Teachers, Pension Scheme {"the TPS'I for its teaching staff. The pension charge for the year includes confributions payable to the TPS of £525,03312023: £414,108) and at the year end £66,767 12023 £50.4421 was accrued in respect of contribulions to this scheme. The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers, Pensions Regulation5 2010 las amended} and The Teachers, Pension Scheme Regulalion5 2014 las amended). Members contribute on a 'pay as you go basis with contribulions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set by the Secretary of Slate following scheme valuations undertaken by the Government Actuary's Department. The mosl recent acluarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. Following the Mccloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period l April 2015 10 31 March 2022. The actuaries have assumed that members are likely lo choose the option Ihat provides them with the greater benefits, and in preparing the 2020 valuation has valued the 'grealer value, benefits tor groups or relevant members. The employer contribution rate for the TPS is 28.6%. and employers are also required to pay a scheme adminislration levy of 0.0810 giving a total employer contribution rate of 28.68%.

MANOR LODGE SCHOOL Acom an Limited b Guarantee Page 27 NOTES TO THE FINANCIAL STATEMENTS_ contlnued FOR THE YEAR ENDED 31 AUGUST 2024 12. TANGIBLE FIXED ASSETS Computer Equipmenl Equlpment, Flxtures and Flltlngs Land & Freehold Property Short Leasehold Property Total Cost As at I September 2023 Additions Disposals 723,373 27,153 1,767.836 112,495 13,432.605 1,440,732 636.470 16,560,284 1,580,380 As at 31 August 2024 750.526 1 ,880,331 14,873,337 636,470 18,140,664 Depreclatlon As at I September 2023 Charge for year Disposals 578,659 66,329 1.380,700 135,490 2.809,148 280,591 303,870 26,652 5.072,377 509,062 As at 31 Augusl 2024 644,988 1,516,190 3,089,739 330,522 5,581,439 Net Book Value As al 31 August 2024 105,538 364,141 11,783,598 305,948 12,559,225 As at 31 August 2023 144,714 387.136 10,623,457 332.600 11,487,907 Included within freehold property is the historic cost of land not depreciated of £393,75012023: £393,750). The Governors consider Ihe market value of freehold property to be significantly in excess of the net book value should the assels be sold for any purpose other than for educational use.

MANOR LODGE SCHOOL Acom an Limiled b Guarantee Page 28 NOTES TO THE FINANCIAL STATEMENTS - conllnued FOR THE YEAR ENDED 31 AUGUST 2024 13. FIXED ASSET INVESTMENTS Cost or valuation Tolal Investments (Llsted) Al I September 2023 Re-invested income Change in market value Additions 393,719 12,320 35,748 60,000 At 31 August 2024 501,787 Investments at fair value comprise: At 31 Augu$1 2024 At 31 August 2023 Funds held within a unit trusl Cash within investment portfolio 493,310 8.477 390,786 2,933 501,787 393,719 Historical cost of fixed asset investments was £450,31912023'. £377,999). The fair value of listed inveslmenfs is determined by reference to the middle market price as at 31 Augusl 2024. 14. DEBTORS 2024 2023 Amounts falling due within one year: Fees receivable other debtors Prepayments 24,679 16,908 156,415 26,000 22,180 153,897 198,002 202,077

MANOR LODGE SCHOOL Acom an Limited b Guaranlee Page 29 NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2024 15. CREDITORS 2024 2023 Amounts falling due within one year: Bank loans Taxation and Social Security payable other Credilors Fees paid in advance Inon-schemel Fees paid in advance Ischemel Deposits held Accruals 259,633 75,618 365,150 794,969 535,891 31,000 86.545 263.311 73,237 160,910 725,699 30.500 471,377 2,148.806 1,725,034 2024 2023 Amounts falling due affer one year.. Long term morlgage Deposits held Fees paid in advance (scheme) 1,999,485 327,000 758,531 2.250,071 276.000 3,085,016 2,526,071 The amounts falling due in respect of creditors payable by instalments after five years were: 2024 2023 Bank loans- element over five years Deposits held- element over five years Inot payable by inslalmentsl Fees paid in advance Ischemel 1,136,018 1.395,287 159,000 76,115 153,000 The bank loan facilities provided by Barclays Bank plc are secured by a debenture over the freehold land and property (excluding that relating lo the Nursery) at Manor Lodge School dated 23 May 2011. There were three loans in operation as at 31 August 2024.. the firsl being repaid by monthly inslalments up to May 2026 at an interest rate of 1.95go over prevoiling bank base rate,. the second being repaid by monthly instalments up to January 2030 at an inilial five year fixed rate 4.35% Ifollowed by a margin of 2.35% over prevailing bank base ratel and Ihe third, being repaid by monthly instalments for a fifteen year term commencing December 2015 al an interest rale of 3.12% over prevailing bank base rate. The aggregate value of secured liabililies is £2,259,11812023: £2,513,382).

MANOR LODGE SCHOOL Acom on Llmlted b Guaranlee Page 30 NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 Fees in advance scheme: The school has introduced a Fees in Advance Scheme in June 2024, enabling parents to pay school fees up front by making a lump sum payment, in return for which the parents receive a discount on the cost of their children's education. Subject to specific terms and conditions, the money paid under the scheme will be refunded provided adequate notice has been given to the school. On the assumption that pupils wilhin Ihe scheme remain in the school, fees will be applied as follows: 2024 2023 Amounts falling due after one year: Wilhin one year Wilhin Iwo to five years After more than five years 535,891 682,416 76,115 1,294,422 Summary of movements in liability: New contracts in year 1,294,422 Balance at 31 August 2024 1.294,422

MANOR LODGE SCHOOL Acom an Llmited b Guarantee Page 31 NOTES TO THE FINANCIAL STATEMENTS - conllnued FOR THE YEAR ENDED 31 AUGUST 2024 16. OPERATING LEASE COMMITMENTS Total future minimum lease payments under non-cancellable operating leases are as follows: other Land & Buildlngs 2024 2023 2024 2023 Expiring: Within one year In two to five years In more than five years 6,257 65.076 2,127,627 1,320 76,773 2,180,107 180 109,036 121,854 2,198,960 2,258,200 109,216 121,854 17. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the year Dividend income Inteie5t receivable Interest payable Depreciation charges Decreaselllncreaselin debtors Increase in creditors Change in market value of inveslmenfs/re-invested income Loss on disposal of fixed assets 501,525 18.1761 194,116} 94,253 509,062 4,075 1,185,481 148,0681 609,217 17,548} 185,3141 103.012 444,493 163.7671 321,182 4,792 131,621 Nel cash Inflow from operating actlvltles 2,144,036 1,457,688 18. ANALYSIS OF CHANGES IN NET DEBT As I September 2023 Cashflows Al 31 August 2024 Cash ot bank and in hand Bank loan due wlhin one year Bank loan due after one year 1,958,309 1263,3111 12,250,071) 308,931 3,678 250,586 2,267,240 1259,6331 11.999,4851 1555,0731 563.195 8,122 19. RELATED PARTY TRANSACTIONS There were no related party transaclions during the year to 31 August 202412023: no related party transactions).

ANOR LODGE SCHOOL Acom an Limlted b Guarantee Page 32 NOTES 70 THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST202 20. CAPITAL COMMITMENTS As at 31 August 2024, Ihe company had capital commitments contracted for but not provided for in these financial slalements of £NIL12023', £1,406,938). other linancial commitments are represented by sums due by the school in respect of a calering conlracl of £40,00012023: £58,551). 21. FINANCIAL INSTRUMENTS 2024 2023 Total interest expense for financial liabilities held at amortised cost 94,253 103,012 22. COMPARATIVE ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES AND ALLOCATION OF SUPPORT AND GOVERNANCE COSTS Direct charitable aclivity Support Governance Cosls Function 2023 Total Salary and employee costs Premises and overhead costs Catering cosls Amortisation Depreciation School activities and excursions Educational supplies other costs Finance costs including loan interest Legal & professional fees Audit remuneration 2,937,102 750,537 3,687,639 521,147 521,147 324,013 281.289 163,204 324,013 281,289 163,204 185,046 61,163 32,391 185,046 61.163 354,665 322.274 105,297 105.297 61,184 19,780 61,184 19,780 3,215.702 2,467,761 80,964 5,764,427