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← Manor Lodge School

2025-08-31-accounts

EST 1991

MANOR LODGE SCHOOL A Company Limited by Guarantee

GOVERNORS ANNUAL REPORT INCLUDING THE STRATEGIC REPORT AND FINANCIAL STATEMENTS

For the year ended 31 August 2025

Company registration number: 2829156 Charity registration number: 1048874

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MANOR LODGE SCHOOL A Company Limited by Guarantee

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

CONTENTS PAGE
Annual Report of the Governors including
the Strategic Report 1-12
Report of the Independent Auditors 13-16
Statement of Financial Activities 17
Balance Sheet 18
Statement of cash flows 19
NotestotheFinancialStatements 20-33

MANOR LODGE SCHOOL

Page 1

A Company Limited by Guarantee

GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

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Chair's introduction

The school’s strategy continues to be shaped by three core priorities: meeting parental expectations, ensuring value for money, and maintaining financial stability and transparency. These priorities guide both operational decisions and long-term planning.

During the year, the school has continued to deliver a high-quality educational provision aligned with the aspirations of its parent community. Curriculum and co-curricular programmes have been developed to remain relevant, rigorous, and supportive of pupils’ wider personal development. Alongside this, the Governors have remained focused on ensuring that educational excellence is delivered at a cost that families can sustain across their time at the school, while continuing to invest appropriately in teaching, facilities, and technology.

Financial management has been conducted with prudence and clarity, supporting strong pupil outcomes and safeguarding the long-term sustainability of the school. The Governors acknowledge the ongoing commitment of parents, pupils, and staff fo the school's values and ethos, which emphasise academic achievement alongside wellbeing, curiosity, and creativity.

The Governors recognise that responsiveness to evolving parental expectations remains essential to the school’s financial and operational resilience, and this continues to inform the school’s strategic direction.

Mr David Arnold MBE Chair of Governors

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A Company Limited by Guarantee

GOVERNORS' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

MANOR LODGE SCHOOL

The Board of Governors present their annual report which also represents the directors report as required by Company Law, and the audited financial statements of the Charity for the year ended 31 August 2025. The report has been prepared in accordance with Part 8 of the Charities Act 2011.

The Governors have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities" (FRS102) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland. The financial statements have been prepared in accordance with the Charity's memorandum and articles of association and with the Companies Act 2006.

OBJECTS, PUBLIC BENEFIT AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES

The Objects of the Charity, in accordance with its Memorandum of Association, are to advance education in particular by establishing and carrying on in Great Britain (and any countries outside of Great Britain) schools at or by means of which students may obtain education and instruction in all subjects whatsoever that may be included in a commercial, technical, scientific, classical or academic education, or may be conducive to knowledge of or skillin 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 the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under that Act.

Principal Activity

The principal activity of the School continues to be the provision of education for children aged between 3 and 11. The School is set in an attractive eleven acre site within easy reach of the M25, St Albans, Potters Bar and Cuffley, Radlett, Elstree, Stanmore and Edgware, and most other parts of Hertfordshire and north-west London.

School Aims

The Governing Board is responsible for setting a strategy for achieving the School's objectives. As a charitable independent school, the strategic aim is the attainment of the highest academic levels. The School's aim is to draw out pupils’ abilities and academic potential, whilst equally championing the pastoral focus of the school in terms of each child's wellbeing. Both are 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 otherwise disadvantaged families to benefit if they cannot afford the School's standard fees.

The Objects of the Charity, in accordance with its Memorandum of Association, are to advance education in particular by establishing and carrying on in Great Britain (and any countries outside of Great Britain) schools at or by means of which students may obtain education and instruction in alll subjects 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 the Charity Commission's published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under that Act.

MANOR LODGE SCHOOL A Company Limited by Guarantee

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GOVERNORS’ ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

OBJECTS, PUBLIC BENEFIT AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES (continued)

School Aims (continued)

The School's specific aims are:

Our Vision:

Our Mission:

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Our Values:

Sustainability:

The School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment.

Public Benefit

The school takes great pride in its strong commitment to public benefit, fostering meaningful connections with the wider community throughout the year. Its partnership with St Albans Pantry is a | valued cornerstone of this outreach. In September 2024, pupils supported the charity and throughout | the year raised £5,308.71 for the charity. | |

MANOR LODGE SCHOOL A Company Limited by Guarantee

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GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Public Benefit (continued)

The school also embraces opportunities to come together for national and charitable causes. The annual Macmillan Coffee Morning held on 27th September 2024 saw families and staff gathering to raise vital funds for cancer support. Later that term, on 11th October 2024, the Harvest Festival collection once again brought the community together to donate generously to those in need. Acts of remembrance were marked with dignity and respect, with a child representing the school by reading during the Remembrance Day observance on 10th November 2024,a tradition that continued on 9th November 2025.

The school remains committed to supporting local organisation's, including the RSPCA, to whom a Christmas tree was donated on 15th December 2024 alongside termly pet food collections. Engagement with families and the wider community continued through enriching events such as the Book Group meeting on 20th November 2024 and an ADHD support meeting the following day, both offering free spaces to the wider community for learning and connection. A particular highlight of the academic year was the author talk by John Biddle on 26th February 2025. In the spirit of collaboration, the school invited librarians from local state schools to join the event, strengthening ties within the local educational community.

Through these varied activities, charitable collections, community events, educational collaboration, and moments of national reflection, the school continues to demonstrate its dedication to enriching the lives of others and upholding its responsibility to the broader community. Governors’ Strategic Plan for the School 1. To determine the future size, composition and structure of the school that will maintain its competitive position within the local and regional marketplace.

  1. To identify and continuously review the requirements needed to provide excellent standards of education and teaching, within well-resourced, innovative facilities.

  2. To establish a sound financial basis to support both current facilities and future develooments.

The Strategic Plan is reviewed annually by the Governors, Head Teacher, Senior Leadership Team (SLT) and Senior Management Team (SMT), who are jointly responsible for formulating and implementing the plan. All developments are and will be considered and executed within the framework of this plan.

Operational performance of the School

Pupil numbers have remained strong. This has involved thorough monitoring and a proactive approach to admissions throughout the year. At the end of the academic year 2024-2025, there were 463 pupils on roll throughout the school, including Nursery. Our waiting list is strong.

At Manor Lodge, we strive to ensure that pupils are at least one year ahead of their chronological age. Analysis of INCAS (2024-2025) data shows that once again, excellent consistency of our CPI results. The data shows that by the time a child reaches the Junior Department, the average child's attainment continues to be 2 years ahead of their chronological age. The 11+ results are a tribute to the determination and hard work of a wonderful cohort of children. The increase in the spread of uptake of places in our leading schools of choice includes both the private and grammar style state schools. In a year group of 56 children, we are once again pleased with the scholarship results. Eighteen children have attained 1 or more scholarships and performance pathways from 12 different schools, amounting to a grand total of 35 scholarships. fein | Ben [Messer | Pome [at | ot [a | Bee er ee ee ee aeee

MANOR LODGE SCHOOL

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A Company Limited by Guarantee

GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

| Fundraising approach and performance | The Governors are aware of the Charities (Protection and Social Investment) Act 2016 and recognise the importance of meeting the highest standards of practice and care in relation to fundraising activities. The School only raises funds from parents, staff and those with a personal connection to 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 activities in order to raise funds for the | School which are used to provide additional resources and activities for pupils. The Board would like | to take this opportunity to express its appreciation for this valuable and continuing support from the parents. During the year a sum of £25,000 has been generously given by The Hub towards the planned outdoor learning kitchen for use by all children. :

Key Initiatives undertaken in 2024 - 2025:

  1. Preparation of the new 5 Year Plan 2. A campaign to say no to mobile phones. 3. Outdoor cooking facilities 4, Classroom Innovation — pioneering exceptional IT initiatives 5. Marketing - Video launch, new website and new branding 6. Nursery refurbishment 7. Sash window refurbishment 8. Year 1,2 and 3 classroom refurbishments 9. Rainbow room screen 10. Acoustic panels in staff room, café and lunch hall 11. Painting of the Grade Il listed building

Bursaries and public benefit

The Governors have given due consideration to the Charity Commission’s guidance on public benefit. It is important to the School that access is not restricted to those who can afford the fees. The Bursary Policy contributes to a widening of access to the education the 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 fees, and the policy is publicised on the School's website.

Bursary awards are available to new entrants who meet the School's entry criteria and also to existing pupils, on the basis of parental means or to 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 not have an endowment fund so must also ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their children's education, and those benefitting from the awards. During the year, 19 pupils benefited from the staff fee reduction scheme and bursaries, the last calculated on a means-tested basis. Such benefits reduced annual fee income by £131,796 (2024: £168,417). Of this amount, bursaries totaling £88,231 (2024: £126,575) supported 11 pupils by the remission in part or in full of their fees. Bursary awards ranged from 20% to 100% remission of fees. In some cases, extra-curricular activities and school lunches were also supported by a bursary. Meanstested bursaries are reviewed annually and represented 1.3% of the School's gross fee income in the 2024/25 year.

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MANOR LODGE SCHOOL A Company Limited by Guarantee

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GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

PRINCIPAL RISKS AND UNCERTAINTIES

Manor Lodge has rigorous procedures in place to review all major risks. The robust system is reviewed annually and the School's Risk register is presented to the Governors each academic year for ratification. This works alongside the School Development plan 2023-28 which outlines the Governors’ Strategic plan for the school.

Risk Register

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 register records the main perceived risks to our financial and strategic aims.

The Risk Register analyses:

The key controls used to protect the School against such risks include:

The principal risks and uncertainties currently facing the School are as follows:

Impact of Government legislation

External economic factors and the sustainability of fee increases

MANOR LODGE SCHOOL A Company Limited by Guarantee

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GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

PRINCIPAL RISKS AND UNCERTAINTIES (continued)

External mitigating circumstances

The rising costs of maintaining the fabric of the school, in particular the listed building

PAY SETTING ARRANGEMENTS

Pay and remuneration for the School's senior management team is reviewed annually in detail by the Governors. Levels are agreed by the 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 support families by offering hardship funds and other financial assistance to those in need. Nonetheless, this was a successful year financially as pupil numbers remained strong and financial controls tight in anticipation of the introduction of VAT on school fees as well as capital requirements underpinning the 5 Year Plan as detailed in the Future Plans section overleaf.

The Company's net income for the year of £512,564 (2024: £501,525) is set out in the statement of financial activities.

Reserves

The financial statements shows the assets and liabilities attributable to the solitary fund (unrestricted) used by the School. The statement of financial activities summarises the movements on this fund. At the year end, unrestricted funds amounted to £10,804,996 (2024: £10,292,432).

The majority of the reserves are invested in tangible fixed assets, supported by longer term loans. This leaves free reserves of £88,836 (2024: £316,436). It will be some years before the bank loans are repaid (as summarised in Note 15 to the financial statements) and the School has funds available to be maintained in appropriate cash reserves. Once this position arises the Board has concluded that, to allow the School to be managed efficiently and to provide a buffer for uninterrupted services, a general cash reserve that equates to six months of overhead expenditure should be built up and maintained. Recent surpluses will be reinvested into the school buildings and facilities in line with the development plan.

Capital Expenditure

The need to maintain and enhance the infrastructure of the School resulted in capital expenditure for the year of £294,943 (2024: £1,580,380) as summarised in Note 12 to the accounts.

MANOR LODGE SCHOOL

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A Company Limited by Guarantee

GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Investment Policy

The company has full powers of investment 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 state of the market and take professional advice as necessary.

The overall financial objective is to at least maintain the real value. As set out in note 13, investment gains of £5,482 (2024: gains of £35,748) which represent an approximate return of 1% on capital invested.

The Rathbone Core Investment Fund for Charities is ethically screened to avoid direct investment in a number of categories in line with the Board's expectations.

Going 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 to continue as a going concern. The governors have made this assessment for a period of at least one year from the date of approval of the financial statements. After making enquires, the governors have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The accounts are therefore prepared on the going concern basis.

FUTURE PLANS

The new Five-Year Plan, which sits alongside The Development Plan 2025 - 2030 and the Self Evaluation Form, set out the strategic plan for the future. These key documents are reviewed annually by the Governors, Head Teacher and Senior Leadership and Management teams, who are jointly responsible for formulating and implementing the plan. All developments are considered and executed within the framework of this plan. The development plan works in conjunction with the 5- year plan which allows for phased development which can be adapted to the school's financial position in each given year.

Key Initiatives for 2025 - 2026 in line with the 5 Year Plan will include:

  1. Planning preparation for the Basil Flashman redevelopment. The proposed development subject to planning permission and financial scrutiny will potentially include:

  2. a) Immersive classroom b) Multi-function space c) Music and IT reconfiguration d) Hall and store e) Viewing gallery f) Entrance landscaping

  3. 2, Deliver a forward-thinking curriculum that inspires intellectual curiosity within each child, promotes academic excellence and individual achievement: a) To use pupil voice to influence the curriculum b) Enhance the achievement of all our pupils through stretch and challenge in the curriculum

  4. Cc) To focus the use of Al to support SEN children's learning progress

  5. or As part of the Manor Lodge well-being programme, My Sky, introduce Level 3 pastoral intervention journals based on the My Sky principles

MANOR LODGE SCHOOL

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A Company Limited by Guarantee

GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is governed by its Memorandum and Articles of Association, originally drawn up on 1 June 1993 and last amended on 12 March 2020.

Governing Body

The Governors, who are also required under the Articles to serve as Directors of the Charity 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.

Induction, Recruitment and Training of Governors Potential Governors are identified by recommendation 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 as a school and also as a registered charity, including its Board Policy and Procedures. All Governors receive a copy of the Association of Governing Bodies of Independent Schools (AGBIS) publication ‘Guidelines for Governors’ and are required to abide by the Governors’ Code of Conduct.

Training opportunities 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.

Organisational structure

The Governors meet as a Board at least once a term to determine the general policy of the School and to review its overall management and control, for which they are legally responsible. The implementation of most of the Board's policies is carried out by the Finance and General Purposes Committee (chaired by Mr G Black until 20 March 2025, and Mr W Thorp from 20 March 2025), the Education Committee (chaired by DrT Lee until 4 February 2026, and Mrs E Eve-Raw from 4 February 2026) and the Governance, Nominations and Remuneration Committee (chaired by Mr D Arnold). The Education & Finance and General Purposes Committees meet at least once a term, prior to the full Governors’ Meeting, to review the budget, monthly management accounts, annual report and accounts and all other relevant matters. The Governance, Nominations and Remuneration Committee meets at least once a year to review the remuneration of the Senior Leadership Team & on an ad hoc basis to manage the succession planning for Governors. The School's Health and Safety Management Committee reviews the School's work and leisure practices and monitors Risk Assessments and is chaired by a designated Governor (Mrs L Selby until 16 January 2025, Mrs J Sharpe from 16 January 2025). The designated Governor for safeguarding is Mr S Wilson.

The day to day management of the School is delegated to the Senior Leadership Team: the Head Teacher, the Deputy Head Academic, the Deputy Head Pastoral and the Bursar.

Relationships with related parties and affiliated bodies The School is a member of the Independent Association of Prep Schools (IAPS), the professional association for Heads and Deputy Heads of the leading 660 independent preparatory schools in the UK and worldwide. Members of the senior management team regularly attend discussion forums with their peers from other preparatory schools in the area in order fo enhance the quality and scope of the lessons given within the School.

The School is also a member of AGBIS, which provides governance advice, and the Independent Schools’ Bursars Association (ISBA), which promotes the efficient and effective management of the non-academic aspects of independent schools.

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A Company Limited by Guarantee

MANOR LODGE SCHOOL

GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The School is a Green-Flag Eco-School, an international group of schools working towards education for sustainable development and a better quality of life for local and global communities. By following their framework, the School aims to become a more stimulating place in which to learn, whilst reducing the environmental impact on the community. 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 action planning.

OFFICERS’ LIABILITY INSURANCE

The company maintains insurance policies on behalf of all the Governors against liability arising from negligence, breach of duty and breach of trust in relation to the company.

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors, as Directors of the Charity 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 (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year, which 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 the year. In preparing these financial statements, the Governors are required to: - select suitable accounting policies and then apply them consistently;

The Governors are responsible for keeping adequate accounting records that 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO THE AUDITORS

The Governors who held office at the date of approval of these financial statements as set out above each confirm, so far as they are aware, that:

This confirmation is given and should be interpreted in accordance with the provisions of $418 of the Companies Act 2006.

MANOR LODGE SCHOOL

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A Company Limited by Guarantee

GOVERNORS’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Governor's Annual Report which includes the Strategic Report has been approved by the Board of Governors in their capacity as Directors of the Company on 26 March 2026 and signed on its behalf by:

Mr D Arnold MBE Chairman

Rectory Lane Ridge Hill Shenley Radlett Hertfordshire WD7 9BG

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MANOR LODGE SCHOOL A Company Limited by Guarantee

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 AUGUST 2025

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 its name from Forestpost Limited to Manor Lodge School Limited on 4 May 1995, and arranged pursuant to Section 60(1) (a) of the Companies Act 2006 to have the word “Limited” omitted from the Charity name. The School registered as a Charity with the Charity Commissioners on 25 August 1995, number 1048874 (England and Wales). The Registered Office and principal address of the Charity is at Manor Lodge School, Rectory Lane, Ridge Hill, Shenley, Radlett, Hertfordshire WD7 9BG. Its registered company number is 2829156 (England and Wales).

Governors

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The Governors of the School, who are also Directors of the Charity and the Charity trustees, during
the year were:
Mr D Arnold MBE #+ = (Chairman) Ms M Jones
DrT D Lee * + (Vice Chairman) Ms J Sanderson Neil = Appointed 20 March 2025
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 H Cohen # Appointed 26 March 2026 Mr W Thorp #
Mr A Devani # + MrS Wilson * $
Mrs E Eve-Raw * Mrs H Williams # Appointed 20 March 2025
Mrs A Hems * Resigned 8 October 2025
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Key Executives & Professional Advisors

Head Teacher Mrs A Lobo BEd(Hons) Deputy Heads Mrs K Dersookiasian Ms F Anwar BA (Hons) QTS Mrs G Wilkins BA (Hons) PGCE QTS Bursar, Company Secretary — Mrs C Wills FCA (Appointed 1 October 2024) Clerk to the Governors Mr R Williams Bankers Barclays Bank plc, 22-24 Upper Marlborough Road, St Albans, AL] 3AL Solicitors Progeny Law & Tax Limited, 1A Tower Square, Leeds, LS1 4DL Auditors Moore Kingston Smith LLP, 6th Floor, 9 Appold Street, London EC2A 2AP Insurance Broker Marsh Limited, 1 Tower Place East, London, EC3R 5BU Investment Managers Rathbone Investment Management Limited, 8 Finsbury Circus, London EC2M 7AZ

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INDEPENDENT AUDIT REPORT TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025

MANOR LODGE SCHOOL

A Company Limited by Guarantee

Opinion

We have audited the financial statements of Manor Lodge School (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statements of Financial Activities (including an Income and Expenditure Account), the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

We have been appointed auditors under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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 charitable company 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.

Conclusions relating to going concern

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.

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

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

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our auditor's report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

MANOR LODGE SCHOOL

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A Company Limited by Guarantee

INDEPENDENT AUDIT REPORT

TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of 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 Directors’ Report or the Strategic Report included within the Directors’ Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the Statement of Directors' responsibilities set out on page 15, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors 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 directors 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 directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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A Company Limited by Guarantee

INDEPENDENT AUDIT REPORT

MANOR LODGE SCHOOL

TO THE MEMBERS OF MANOR LODGE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025

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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

lrregularities, 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. The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit | evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However,

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Page 17

Manor Lodge School A Company Limited by Guarantee

Statement Of Financial Acivities (including an income and expenditure account) For the year ended 31 August 2025

Total Total
(Unrestricted) (Unrestricted)
Notes 2025 2024
£ £
INCOME FROM:
Charitable activities 2 7B17,953 6,711,681
Other trading activities 3 69,318 45,833
Investments 4 111,030 102,292
Voluntary sources 5 108,133 -
Total income 7,606,434 6,859,806
EXPENDITURE ON:
Charitable Expenditure
Raising funds 1,065 4,416
Charitable activities 6 7,098,287 6,389,613
Total expenditure 7,099,352 6,394,029
NET GAINS / (LOSSES) ON INVESTMENTS 13 5,482 35,748
NET INCOME AND NETMOVEMENT IN FUNDS 512,564 501,525
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD 10,292,432 9,790,907
TOTALFUNDSCARRIEDFORWARD 10,804,996 10,292,432

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.

The attached notes form part of these financial statements.

Page 18

Manor Lodge School A Company Limited by Guarantee

Balance Sheet

At 31 August 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 12,366,715 12,559,225
Investments 13 579j;225 501,787
12,945,940 13,061,012
CURRENT ASSETS
Debtors 14 798,197 198,002
Cash at Bank and in hand 2,119,898 2,267,240
2,918,095 2,465,242
CURRENT LIABILITIES
Creditors: Amounts falling due
within one year 15 2,829,259 2,148,806
NET CURRENT ASSETS 88,836 316,436
TOTAL ASSETS LESS
CURRENT LIABILITIES 13,034,776 13,377,448
CREDITORS: Amounts falling due
after more than one year 15 2,229,780 3,085,016
TOTAL NET ASSETS 10,804,996 10,292,432
CHARITY FUNDS
Unrestrictedfunds 10,804,996 10,292,432

Approved and authorised for issue by the Board of Governors on 26 March 2026 and signed on its behalf by:

Mr D Arnold MBE Chairman

Company registration number: 2829156 Charity registration number: 1048874

Page 19

Manor Lodge School A Company Limited by Guarantee

Statement of Cash Flows

For the year ended 31 August 2025

2025 2024
Note £ £
Cash flowfrom operating activities 17 362,958 2,144,036
Interest paid (94,614) (94,253)
Net cash flowfrom operating activities 268,344 2,049,783
Cash flowfrom investing activities
Payments to acquire tangible fixed assets (283,184) (1,580,380)
Purchase of fixed asset investments (60,000) (60,000)
Interest received 98,009 94,116
Dividends received 7,900 8,176
Net cash flowfrom investing activities (237,274) (1,538,088)
Cash flowfrom financing activities
Net (decrease) in loans (259,728) (254,264)
Increase in deposits held 81,317 51,500
Net cash flowfrom financing activities (178,412) (202,764)
Net (decrease)/increase incash and
cash equivalents		 (147,343) 308,931
Cash and cash equivalents at 1 9,967,240 1,958,309
September
Cash and cash equivalents at 31 August 2,119,897 2,267,240
Cash and cash equivalents consists of:
Cash at bank and in hand 2,119,898 2,267,240
2,119,898 2,267,240

The notes form part of these financial statements.

MANOR LODGE SCHOOL A Company Limited by Guarantee

Page 20

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

  1. ACCOUNTING POLICIES

General information and basis of preparation

Manor Lodge School is registered as a charity with the Charity Commission and incorporated as a private 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 (not exceeding £1) to 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 payment 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 adjustment of the rights of the contributories among themselves, The address of the registered office is given in the charity information on page 12 of these financial statements. The nature of the charity's operations and principal activities are as presented on page4 of these financial statements. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (the FRS 102 Charites SORP), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity 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 otherwise stated.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Governors’ Annual Report.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Fees receivable consist of charges billed for the school year ending 31 August less bursaries and allowances. Adjustments have been made to defer invoiced fees relating to the Autumn term, which commences in the next financial period to ensure that no income relating to the next financial year is included in these financial statements. Any payments received relating to this term have been treated as fees in advance under creditors.

MANOR LODGE SCHOOL

Page 21

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

A Company Limited by Guarantee

lrrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to the cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking non-mandatory contributions.

The analysis of these costs is included within note 6 to the financial statements.

(f) Tangible fixed assets Tangible fixed assets are included at cost including any incidental expenses of acquisition. Costs include any costs directly attributable to render the asset capable of use as intended. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, on a systematic basis, over their expected useful economic lives as follows: e Freehold land NIL e Freehold buildings over 50 years on a straight line basis e Furniture and equipment over 5 years on a straight line basis ° Computer equipment over 4 years on a straight line basis e Leasehold property over the period of the lease

(g) Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value with changes recognised in “net gains/(losses) on investments” in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably.

(h) Financial Instruments The charity has elected to apply the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments Issues” of FRS102 to alll of its financial instruments. Financial instruments are recognised in the company's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 22

MANOR LODGE SCHOOL A Company Limited by Guarantee

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

(i) Cash and Cash Equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other short term liquid investments with original maturities of three months or less.

(j) Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income and expenditure account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(k) Leases

Rentals payable and receivable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

(I) Employee benefits (including pensions) When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charity recognises termination benefits as a liability and an expense within the financial statements only when there is a demonstrable commitment to do so.

The charity contributes to the Teachers’ Pension Defined Benefits Scheme (TPS) at rates set by the Scheme Actuary 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 assets and liabilities of the scheme which are attributable to the School. In accordance with FRS102 therefore, the scheme is accounted for as a defined contribution scheme. The School is in Phased Withdrawal from the TPS as of 1 April 2024.

The charity also contributes to two separate defined contribution group personal pension schemes:

One scheme for teaching staff who have opted out of the TPS or joined after withdrawal. One scheme for non-teaching staff.

Contributions to these schemes are charged to expenditure in the period in which they are payable.

(m) Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it 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 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

MANOR LODGE SCHOOL A Company Limited by Guarantee

Page 23

| | |

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

(p) Advance Fee Scheme The scheme offers parents the opportunity to pay for school fees in advance in accordance with the terms and conditions of an agreed contract. Monies received under the scheme are held within unrestricted funds and presented as a liability within 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 the scheme contract.

(a) Judgements in applying accounting policies and key sources of estimation uncertainty In the application of the Charity's accounting policies, which are described in note 1, Governors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 orin the period of the revision and future periods if the revision affects the current and future periods, The Governors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

Critical Judgements

| Useful Economic Lives | The annual depreciation charge for property, plant and equipment is sensitive to 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 reflect current estimates based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property, plant and equipment and note 1(f) for the useful economic lives for each class of asset.

|

Page 24

Manor Lodge School

A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

2. INCOME FROM CHARITABLE ACTIVITIES

==> picture [458 x 224] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |£|£| |School|fees|receivable:| |Gross|fees|6,787,713|6,264,166| |Less:|Discounts,|scholarships|and|bursaries|(131,796)|(168,417)| |6,655,917|6,095,749| |Clubs,|school|lunches|and|other|activities|644,496|597,407| |Registration|fees|17,540|18,525| |7,317,953|6,711,681|

----- End of picture text -----

3. INCOME FROM OTHER TRADING ACTIVITIES

==> picture [457 x 117] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Net|café|income|13,545|17,045| |Income|from|fund|raising|events|36,195|15,679| |Hire|of|facilities|15,458|12,515| |Other|4,120|594| |69,318|45,833|

----- End of picture text -----

  1. INCOME FROM INVESTMENTS

==> picture [456 x 91] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Interest -|Deposit|and|current|account|103,130|94,116| |Dividend|income|7,900|8,176| |111,030|102,292|

----- End of picture text -----

Page 25

|

Manor Lodge School A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

5. VOLUNTARY SOURCES

2025 2024
£ £
Legacies
Donations		 from Parent Hub 78,133
30,000		 -
-
108,133 -

6. EXPENDITURE ON CHARITABLE ACTIVITIES, SUPPORT AND GOVERNANCE COSTS

The Governors consider that the Company is engaged in only one category of charitable activity - namely that of the provision of education.

Analysis of charitable activity, governance and support costs is as follows:

|

Direct Support Governance 2025 2024
charitable Costs Function Total Total
activity
£ £ £ £ £
Salaryandemployee costs 3,416,705 968,164 12,170 4,397,039 4,221,146
Premises and overhead costs - 1,020,281 - 1,020,281 613,235
Catering costs - 335,753 - 335,753 306,979
Amortisation
Depreciation
School activitiesand excursior		 -
-
247,411		 320,826
159,828
-		 -
-
-		 320,826
159,828
247,411		 307,243
201,819
202,594
Educational supplies 69,090 - - 69,090 82,161
Othercosts 5,752 280,917 - 286,669 244,767
Finance costs and loan intere: - 98,352 - 98,352 96,104
Legal & professional fees - 141,884 - 141,884 95,345
Audit remuneration - = 21,154 21,154 18,220
3,738,959
3,326,004
33,323
7,098,287
6,389,613
—D

Page 26

Manor Lodge School A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

  1. EXPENDITURE ON CHARITABLE ACTIVITIES, SUPPORT AND GOVERNANCE COSTS (conf)
Comparative information Direct Support Governance 2024
charitable Costs Function Total
activity
£ £ £ £
Salaryandemployee costs 3,349,216 861,166 10,764 4,221,146
Premisesandoverheadcosts - 613,235 - 613,235
Catering costs - 306,979 - 306,979
Amortisation - 307,243 - 307,243
Depreciation - 201,819 - 201,819
School activitiesand excursio! 202,594 - - 202,594
Educational supplies 82,161 - - 82,161
Othercosts 5,225 239,542 - 244,767
Finance costsand loan intere: - 96,104 - 96,104
Legal& professional fees - 86,812 8,533 95,345
Auditremuneration - - 18,220 18,220
3,639,196
ee		 2,712,900
ee
6S		 37,517 6,389,613
eS

7. NET INCOME FOR THE YEAR

Net income for the year is stated after charging:

2025 2024
£ £
Otherexpenditure includes:
Fees payable to the Company's auditor (excluding VAT)
- forthe audit ofthe Company's annual accounts 18,950 16,520
- forotherauditwork on behalf oftheCompany 1,950 1,700
Amortisation & Depreciation —owned assets 480,653 509,062
Operating lease rentals
-
Land and buildings 81,712 75,94)
Fittings and equipment 7,420 53,804
Net gain / (loss) on investments 5,482 35,749
Profitondisposaloftangiblefixedassets 1,600 -

Page 27

|

Manor Lodge School A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

  1. GOVERNORS' AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES The Governors neither requested nor waived any emoluments during the year £Nil (2024: ENil).

During the year, no expenditure was reimbursed to any Governor by the School (2024: &nil).

The total amount of employee benefits received by key management personnel (including employers National Insurance) was £577,950 (2024: £551,876). The School considers its key management personnel comprise members of the School's senior leadership team.

9. STAFF COSTS

9. STAFF COSTS
2025 2024
£ £
Wagesand Salaries
Social Security costs		 3,316,420
367,139		 3,222,713
337,244
Pension costs 641,674 579,853
Otheremployee benefits 57,770 62,076
4,383,004 4,201,886

Total redundancy/termination payments made during the year amounted to £NIL (2024: £NIL).

The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 in the year was as follows:

2025 2024
Number Number
£60,001 -£70,000 2 2
£70,001 -£80,000 2 2
£120,001 -£130,000 - 1
£130,001 -£140,000
Thenumberofhigherpaid employeeswhoaccrued		 1
benefits undera defined benefit pension		 -
schemewas4(2024:4).

Page 28

Manor Lodge School

A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

9. STAFF COSTS (cont)

The average number of employees and full time equivalent (FTE) analysed by function during the year was made up as follows:

==> picture [447 x 91] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Number|FTE|Number|FTE| |Charitable|activities|(Teaching|and|support)|75|66|8]|64| |Administration|15|14|12|1]| |90|80|93|75| |—|

----- End of picture text -----

  1. PENSION COSTS

a) Defined contribution pension scheme.

The company contributes to a defined contribution scheme on behalf of eligible members of its non-teaching staff. Contributions are charged in the statement of financial activities as they accrue. The charge for the year was £61,120 (2024: £54,820). Contributions payable as at 31 August 2025 in respect of non-teaching staff were £8,810 (2024: £7,988).

The company contributes to a defined contribution scheme on behalf of eligible members of its teaching staff joining after 1 April 2024. Contributions are charged in the statement of financial activities as they accrue. The charge for the year was £22,139(2024: Enil). Contributions payable as at 31 August 2025 in respect of non-teaching staff were £3,017 (2024: £nil).

b) Teachers’ Pension Scheme

The School participates in the Teachers’ Pension Scheme (‘the TPS”) for its teaching staff joining before | April 2024. The pension charge for the year includes contributions payable to the TPS of £559,388 (2024: £525,033) and at the year end £64,154 (2024: £66,767) was accrued in respect of contributions to this scheme.

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

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.48%.

Page 29

|

Manor Lodge School A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

12. TANGIBLE FIXED ASSETS

Computer Equipment, Equipment, Land & Short Total
Equipment Fixtures and Freehold =Leasehold
Fittings Property Property
£ £ £ £ £
Cost
As at 1 September
Additions
Disposals/adjustments		 750,526
56,595
(4,920)		 1,880,331
238,348
=		 14,873,337
-
(6,799)		 636,470
-
-		 18,140,664
294,943
(11,719)
As at 31 August 802,201 2,118,679 14,866,538 636,470 18,423,888
Depreciation
As at
1 September
Charge foryear
Disposals		 644,988
43,085
(4,920)		 1,516,190
116,743
-		 3,089,739
294,174
-		 330,522
26,652
-		 5,581,439
480,654
(4,920)
As at 31 August 683,153
1,632,933
3,383,913
357,174
6,057,173
a
NetBookValue
Asat31 August2025		 119,048
485,746
11,482,625
279,296
12,366,715
Te
As at 31 August 2024 105,538
oe		 364,141 11,783,598 305,948 12,559,225

Included within freehold property is the historic cost of land not depreciated of £393,750 (2024: £393,750).

The Governors consider the market value of freehold property to be significantly in excess of the net book value should the assets be sold for any purpose other than for educational use.

Page 30

Manor Lodge School A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

13. FIXED ASSET INVESTMENTS

Cost or valuation Cost or valuation Tore
.
investments
(Listed)
£
At
1 September 2024		 501,787
Re-invested income 11,956
Change in market
Additions		 value 5,482
60,000
At 31 August 2025 579,225
Investments at fair value
comprise:
At 31 August At 31 August
2025 2024
£ £
Funds held within a unit trust 574,044 493,310
Cash within investment portfolio 5,181 8,477
579,225 501,787
Historical cost of fixed asset investmentswas£450,319(2023: £377,999).
The fairvalue of listed investments isdetermined byreference tothe middle market price as at
31 August 2025.
14, DEBTORS
2025 2024
£ £
Amounts falling due within one year:
Fees receivable 440,452 24,679
Otherdebtors 100,352 16,908
Prepayments 257,393 156,415
798,197 198,002
—————

Page 31

|

|

|

Manor Lodge School A Company Limited by Guarantee

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

15. CREDITORS

15. CREDITORS
2025 2024
£ £
Amounts falling due within one year:
Bank loans 611,459 259,633
Taxation and Social Security payable 402,045 75,618
Trade creditors 431,665 245,743
Other Creditors 87,999 119,407
Fees paid inadvance (non-scheme)
Fees paid inadvance (scheme}		 370,752
319,744		 794,969
535,89
Deposits held
Accruals and deferredincome		 37,000
568,595		 31,000
86,545
2,829,259 2,148,806
2025 2024
£ £
Amounts falling due afterone year:
Long term mortgage
Deposits held
Fees paid inadvance (scheme)		 1,387,931
402,317
439,532		 1,999,485
327,000
758,531
2,229,780 3,085,016

The amounts falling due in respect of creditors payable by instalments after five years were:

2025 2024
£ £
Bank loans—element over five years 1,136,018 1,136,018
Deposits held —element over five years
(not payable byinstalments)
Fees paid inadvance (scheme}		 159,000
31,045		 159,000
76,115
————EEE_

The bank loan facilities provided by Barclays Bank plc are secured by a debenture over the freehold land and property at Manor Lodge School dated 23 May 2011. There were three loans in operation as at 31 August 2025: the first being repaid by monthly instalments up to May 2026 at an interest rate of 1.75% over prevailing bank base rate; the second being repaid by monthly instalments up to May 2026 at a five year fixed rate 4.35% and the third, being repaid by monthly instalments for a fifteen year term commencing December 2015 at an interest rate of 3.12% over prevailing bank base rate. The aggregate value of secured liabilities is £1,999,390 (2024: £2,259,118).

Page 32

Manor Lodge School A Company Limited by Guarantee

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

15. CREDITORS (cont)

Fees in advance scheme:

The Fees in Advance Scheme enables 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.

Ontheassumption that pupils within theschemeremain inthe school, fees will beapplied
as follows:		 Ontheassumption that pupils within theschemeremain inthe school, fees will beapplied
as follows:		 Ontheassumption that pupils within theschemeremain inthe school, fees will beapplied
as follows:
2025 2024
£ £
Amounts falling due afterone year:
Within oneyear 319,744 535,89 1
Within two to fiveyears 408,487 682,416
Aftermore than five years 31,045 76,115
759,276 1,294,422
Summary ofmovements in liability:
New contracts inyear 1,294,422 1,294,422
Amounts used topayfees (535,146) -
Balanceat31August 759,276 1.294,422

16. OPERATING LEASE COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land & Buildings Other
2025 2024 2025 2024
£ £ £ £
Payments due:
Within oneyear 89,000 6,257 7420 180
Intwo to five years 350,720 65,076 3,418 109,036
In more than five years 2,226,615
2,121 627
-
-
aEE
ee
2,666,335 2,198,960 10,838 109,216
a

Page 33

|| | | | |

Manor Lodge School A Company Limited by Guarantee

Notes to the financial statements

For the year ended 31 August 2025

17. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025 2024
£ £
Netincome fortheyear
Dividend income		 512,564
(7,900)		 501,525
(8,176)
Interest receivable (103,130) (94,116)
Interest payable
Depreciation charges
Decrease/(Increase)in debtors
(Decrease) /increase in creditors
Change in market value ofinvestments/re-investedincome		 income 94,614
480,654
(598,434)
3,628
(17,438)		 94,253
509,062
4,075
1,185,481
(48,068)
Profit on disposal of fixed assets (1,600) -
Netcash inflowfrom operating activities 362,958 2,144,036
ee
18.
ANALYSIS OF CHANGES IN NET DEBT
As
September		 Cashflows
2024
£ £ £
Cash at bankand in hand 2,267,240 (147,342) 2,119,898
Bankloanduewithinoneyear
Bankloandue afteroneyear		 (259,633)
(1,999,485)		 (351,826)
611,554		 (611,459)
(1,387,931)
8,122
112,386
120,508
ST

19. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year to 31 August 2025 (2024: no related party transactions).

20. CAPITAL COMMITMENTS

As at 31 August 2025, the company had capital commitments contracted for but not provided for in these financial statements of £NIL (2024: £NIL).

Other financial commitments are represented by sums due by the school in respect of a catering contract of £32,000 (2024: £40,000).