Charlty reglstrntlon numbor 1068650 {England and Wales) THE BIRKENHEAD SCHOOL FOUNDATION TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ~• xeinadin
THE BIRKENHEAD SCHOOL FOUNDATION TRUST LEGALAND ADMINISTRATNE INFORMATION Trust8QS Mr N P Turner Mr M R Feeny LLB Mr H E R FitzHerbert BA (Honsl PGCE Mr P R VIc8rs MA Mr M R Cashin MA MrDJByme MrTltrrth Mr J Slirrett- Chair Mr M S Fumiss (Appointed 28 May 2025) {Appoinled 28 May 2025} {Appoinled 22 May 20251 Charlty number{England and Wales) 1[8650 Audttor XeinadinAudil Limited 46 Hamilton Square Birkenhead ff81 Merseyside CH41 SAR Sollcltorn DWF LLP 5 Sl Paul's Square Old Hall Street Liverpool Merseyside L3 9AE Inv88tmont advlBors Ralhbone Investment Management Port of Liverpool Pier Head Liverpool Merseyside L3 1NW
THE BIRKENHEAD SCHOOL FOUNDATION TRUST CONTENTS Page Tnjstees, report Stslemenl of trustees. responsikn"lrties Independent audi$ report Stslemenl of financial activthes Stslement of financial position Notes to the financial stalemerrts 10-19
THE BIRKENHEAD SCHOOL FOUNDATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The trustee8 present th¢ir annual report and finarKial stat8menl$ the year ended 31 August 2025. The financial stslemenls have been prepared in accordance V*ilh the accounting pglicies set out in note 1 to the finandal statements and compty wth the d)arty'$ governing document, the Charities Act 2011, FRS 102 'Th• Flnanci81 Reporting Stsndard applicable in the UK aThY Rewblic of Irel8n(r and the Charib'es SORP "knounting ond Repo.ng by Chanties.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Financial Reporting StaTrJard applicable in the UK and Repu1¢ of Ireland IFRS 102}", ObJtttlv•s and •ctfvltl The Trust's stated objects are,. To 8881st and Support Birkenhead ScTh to further ils charitable obiect8' (The above 18 exlracted from Dedorati¢)n of TnMt}. 1118 cjjrrently envlsaged that the Tnjsl wll asyst the School in vallous vays.. By givin9 monèy lo the SCI for the provision of bursanes By providing money lo the School for capital and speu'al proieGts'. suth mongy lo bg as 4 glft or loan. Money for bur8aries comes from TrusV8 ino)me,' mw for copial or spepal projects may be from income or from the Tru$l'¥ prtaI. Thg Trust seeks to increase ts incom• and caprtal ¢)ver time, that il can prowde inueas6d18vels of SUprt lo thè Th8 InJstee8 have pald due regord to gUanCe iswed by Charity Commi88ion in deciding wthat activities the charty should undertake. A¢hl•v•m•nts and p•rformant• The Trust ha8 continued rt$ aims of supwb'ng the Sehool throughout the year, and has granted £71.161 {2024 £73,11411o f8alit8le thè provision of school bursar8. fvndfaiwng activitie8 and other necessary expendttufe. Flnancl•l rnvlvaT The Twsl had income during Ihe year d £387,391 12024 £369,678) and eyFenditure of £144,87712024 £119,933) which logelhar wth surplus on investments of £258.04812024 £811.61 $1 left £480.$62 to be added lo the reserves brought fOard of £8,296,466 leaving funds available lo be rried forward 01 £8,777.028. Unreslricled free resen5 of the Trust amounted to £8.576.908. Investment IrMe from rt5 re¥8ryes is u8ed to provth fe• assistance to pupils ar4J thereby to wIn access to the School. More fee as%stance is provided by the scho than can be fvnded by the income of the Foundation Trust and rt 58 therefore the polKy of the Trustees to seek to incse85e the eapital hèld by the Trust. The Trusloes havo a reasonable expectation that the Trust has adequate resources to ¢onlinue to fvlfil ils aims for the foreseeable firture. For this reason it continues to adopt the going conrn basis in preparing the financial stslemenls. Further details reg8rding the adopti of the golng corKem basls can be found In the Accounting Policies. Trustees have an investment policy whth aims to secwe a balance of in(x)me and capital growih. Professional investment managers are eMOyed. The trustees have 888es8ed the major risk$ to wthich the dHrity is exFKJsed, and are satssfied th81 systems are in place to mitlgate exposure to the Malc risks.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Plans for future perlods The Trust aims lo increa$e ils level of income, both through encouraging donations and from sound management of its capital. It will respond, on request, lo the strategic development needs of the School. considering how il can best support the School's charitable objectives. Structure. governnc• and management The Birkenhead School Foundation Trust Ilhe Trusll is a registered charity Icharity no. 1066650}. It is under the effective control of Birkenhe8d School (the Sthool), a company limrted by guarantee {company no. 44922501 and registe d)arty (charity no. 10934191. Trustees, who are appointed by the govemors of the Sch¢JoI are as listed. They are drawn from cunI or former governors of the School, senior executives of the School and a representative of the Old Birkonian Society. Trustees delegate the day to day running of the Twst's business lo their Secretary, who is the Bursar of the School. The trustees who served during the year and up to the dale of signature of the financial statements were.. Mr N PTurner Mr M R Feeny LLB Mr H E R FitzHerbert BA {Hons} PGCE Mr Edward Rice FRICS Mrs Kirsten Pankhurst Mr P R Vicars MA Mr A J Cross LLB IHon$l Mr M R Cashin MA Mr D J Byrne Mr T Whthorth Mr J Sts'rrett- Chair Mr M S Furniss (Resigned 4 July 2025} (Resigned 22 April 20251 (Resigned 31 December 2024) IAppointed 28 May 20251 IAppoinled 28 May 20251 {Appointed 22 May 20251 Trustees are conscious of the need lo keep within rts number a wide range of skills and experience. New Trustees are offered training on appointment and training for all Trustees is arranged from lime lo lime. The Iru$tees' report was approved by the Board of Trustees. . Wi£wEfT Trustse -40 0.7 27 April 2026
THE BIRKENHEAD SCHOOL FOUNDATION TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST2025 The trustees aro responsible for prepartng the Trustees, Report and thè financial slalemenls in accordance wth applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practicel. Tha law applicable lo charf(ies In England and Wales requires the Iruslees lo prepare financial statements for each financial year which give a true and f8ir view of the state of affairs of the charity and of the incoming resources and applicatSon of resources of the ¢hgrity for that year. In preparlng Ih88e fin8nclal slalemenls, thè Iru8tsgs are requirod lo.. seled $uilable accounting policies and then apply them eonsislenlly., observe the Fnelhods and principles in the Charitie8 SORP.. make ludgem6nl8 and e81imate8 that 8re reasonable and prudent., stale whether applicable accounting standards have been followed, 8ublecl to any material departures disclosed and oxplaingd in the financial stslemenls,. 8nd prepare the financial statements on the golng concern ba¥is unl3 11 is inappropriate to presume that the charfty will conllnue In operation. Tho trustees are responsible for keeping sufficient accounting Tecords that disclose wth reasonable ac¢ura¢y al any me the f¢nanci81 posttlon of the charlly and enable them lo ensure that the financial slèlements comply wllh the Charllles Act 2011, the Charity (Accounts and Report81 Regulations 2008 and the provisions of the IrLtsl deed. They are 8180 responsible for 8afegu8rding the 8ssets of the chaiily and henco for taking reasonable steps for the prevention and delectt'on of fraud and other irregularilios.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BIRKENHEAD SCHOOL FOUNDATION TRUST Oplnlon We have audrted the financial stslements of The Birkenhead School Fouftdati Trust {tt)e 'chanty'l for the year ended 31 August 2025 which comprise the statemerrt of financAal activities, the stslement of financial positson and notes to the financial statements, induding sn¢fiCant ac£ountsng poliues. The finanaal re)"fig framework tt)at has been applied in their preparation is applicable law and Unrted ngorn Accounting Standards, induding Finonual Reporting Stsndard 102 The Financial Reporting Standanl applicable in the UK and Republ of Irgland {United Kingdom Generally ACpted Ac¢wnb'ng Prath"cel. In our opinKJn, the financial statements.. give a true and fair view of the stste of the chty's affaits as al 31 August 2025 and of its inrA)ming reswrces and application ol resources. for the year then ern1ed.' have been property prepared in acCOrdae wrth Unrted KIrd0M Genernlly Accepted AntIng Practice., and have been prepafed in accordance with the Chanb"esAct 2011. Basls for oplnlon We conducted our audit in a(dae ¥th Intemational Standards Audrting {UKI IISAS IUKI) and applicable law. Our respongbililies tjnder those standards are further described in the Audrtorfs rnsponsibilities for the audrf of the financial statemgnls section of our rewt. We a indepeThJent of the charity in aCrdanCe with the ethical requirements that are relevant to our audrt of the finanaal statements in the UK, induding the FRC'S Ethi1 Stsndard, and we have fvlfilled our other ethical rewns1kn.l.es in accdanCe wrth these requirements. believe that the audrt evidence we have obtained is suffie4ent and appropriale to provide a basis for our opinion. Conclusions relating to going concern In audrting the financial statements. we have Cluded that the trustees, use of the gcing conrn b88is of accounting in the preparation of Ihe finanaal sLemerts is apprcyriale. Based on the work we have performed, we have not identified any material uneertaints.es relatsng lo wenls or conditions that. individually or colleth"veSy. may $1 gnIficant dcMJbt on the thanS ability to contsnue a5 a going concem for a periLxI of at least twelve month$ from when the finaneial statements are aLrthorised for issue. Our responsibilities and the responsitrflities of the trustees fespe¢X to going concem are dex¥ibed in the relevant sections of this rewt. Other Infomwtlon The other infomalion compnse5 the infomab"c) iluded in the annual report other than the finarrial statements and our audito¢s report thereon. The tnjstees are responsible ftjr the other infomation contained wthin the annual report. Our opinion on the finanoal statements does not cover the other infomiatson and we do not expres5 any fom ol assurance condus1 there. Our respon&bilty is to ad the other information and. in doing so, consider whether the other inforniatson is materialty irOnsIstenI the financial statements or our knedge obtained in the course of the audrt, or otherwse appears to be materially misstated. If we identsfy such material in¢onsistencie5 or apparent material misstatements. we are required to detemiine whether this gives rise to a materHI misstatement in the financial statements Ihemselves. If. based on the work we have performed. we eondude that there is a material mi5slatement of this other informats'on. ¥ are required to repNt that fact. have nothing to report in this ward. Matters on vthich we are requlred to report by exceptlon have rthing to report in respect of the follchving maliers in relation lo the Charibe$ (Alunts and Reports} Regulation$ 2008 wuires us to report lo you rf. in our opinion-. the inforniation g4ven in the finanual statements is inconsistent in any material resFeCt with the trustees, report". or sufficient accounting records have not L*en kept." or the financial stslements are not in agreement wth the acci)unting records.. or we have Tr)t rewved all the irrformatb)n and ewanatiorts we require our al.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BIRKENHEAD SCHOOL FOUNDATION TRUST R•sponslblllll•s of trustee8 A$ exp18ined more fully in the statemont of tru$lees' re8pon8ibililie$, the tru$teos are responslble lor the preparation of the financial slalements and for being satisfied that they give a true and fair view, and for such inlgrnal control as the Iruslees determine is necessary to enable the preparation of finan¢ial stslemenls that are free from material misslalemènl, whelhof duo to fraud or error. In preparing the financial st8lemenl¥. the Iruslees are responsible for assessing the eharity'5 ability lo continuo a$ a going concern, disclosing, 88 applicable, rnatters related lo going concem and using the going concem basis of acUntIng unless the trustees 8rther intend to cease cperations. or have no r881181ic 8llernatsve bul lo do $0. Audltorfs r•¥ponslbllltlo8 for th• audlt of the flnanclal stat•m*nts have been appointed as auditor under sectlon 144 of the Chafilies Act 2011 and rèport in accordance ¥th the Act and rglgvant regulations made or having effect Ihoreunder. Our objectlves are lo oblaln reasonable assurance about whether tho financial slalements as a whole are free from malgrial mi$$lalemonl, whether due lo fraud or error, and lo issuè an 8udilorfs rèport that include5 our opinion. Reasonable assurance 18 a high level of assurance bul is not a guarantee that an audit conducted in 8ceordance with ISAS IUKI will always detect a m8lerial misslatemenl when 11 exi8t8. Misst8lemenls can 8dse from fraud or error and are ¢onsldered materlal If, indlvldually or in the aggregate. they could reasonably be expected lo influence th6 eeonomlc declslons ol u8ers taken on the basis of these financial Slalemenls. The extent lo whlch our procedures ar8 capable ol d6ledlng irregularlti88, Includlng fraud. 58 detalled bel¢)w.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BIRKENHEAD SCHOOL FOUNDATION TRUST Extsnt to vthlch the audlt was con61dorod upabl• of detectlng lrrèoularlt1. Includlng fraud Our approach lo identifying and assessing the risks of material mi$$latement in respecl of irregularities, including fraud and non-compliance with laws and regulations. was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate compelenary. capabilities and skills to identify or recognise non-compliance with applicable laws and regulations,. we identified the laws and regulations applicable to the charity through di$$S1On8 wlh trustees and other management. and ftom our knowledge and experience of charity 5ector', we focusèd on spe¢ifi¢ laws and regulations whi¢h we nsidered may have a direct material effect on the financial statements or the operations of the charity, including Chafilies AfA 2011, data protection & anti- bribery. we assessed the extent of MplIance with the laws and regulation5 identified above through making enquiries of management team and inspecting legal correspondence,. and Identh'fied laws and iegulalions were communicated within the audrt team regulady and the team remained alert lo instances of non- compliance throughout the audit. We assessed the susceptibility of the Charivs finartial slalemenls to materlal misstslement, induding obtaining an understanding of how fraud might occur, by.. • making enquiries of management team as lo where they considered there was susceptikn'lity to fraud, their knowledge of actual, suspected and alloged fraud.. and considering the intemal controls in pla to mitigate risks of fraud and non-compliance with laws arKI regulations. To addross the risk of fraud through management bias and override of wntro15, we.. perfom)ed analytical procedures lo identify any unusual or unexpecte(I relationships., tested joumal entries to Identify unusual transactions., assessed whether judgements and assumptions made In ddemining the ae£ounting estimates wore indicabve of potential bias., and investigated the rationale behind significant or unusual transactn$. In response lo the risk of irregularr¢ies and non-compliance wth laws and regulations, we designed procedur which included. but were not limf(ed lo.. agreeing financial statement disdosures to underfying supporting documentation: enquiring of managemanl as to actual and potential liligalion and claims.. and reviewng coffespondence wth HMRC and relevant regulators. A further description of our responsibilities is available on the Finanaal Reporting Counal's web$rte at.. htw.'ii www.frc.org.uklaudilorsrespon$ibililies. This dvdcript'on form5 part of our auditorfs report. Other matteryJ Your attention is drawn lo the fact that the ¢harity has prepared financial statements in ardance with"Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their a¢counts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in preferen to the Accounting and Reporting by Charities." Stslemenl of Recommonded PraclKe issued on 1 April 2005 which is ferred to in the extant regulations bul has now been wthdrawn. This has been don8 in order for the financial ststements lo provide a true and falr view in accordance with current GenerallyAccepled Accounting Practice. Use of our report This report is made solely to the charity's trustees, as a body. in accordance with Part 4 of the ChaTitie$ IAccounts and Reports) Regulations 2008. Our audrt work has been undertaken so that we might state lo the charitys Iruslees those matters we are required lo slate lo them in an auditor'5 report and for no other purpose. To the fullest extent permittg¢J by law, we do not accept or assume responsibility lo anyone other than the charlty and the charity's trus10es as a body, for our audit work, for this report. or for the opinions we have fornied.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BIRKENHEAD SCHOOL FOUNDATION TRUST Helen Furlong FCCA (Senlor Statutory Audltor) For and on behalf of Xeinadin Audit Limf(ed, Slatulory Audltor Chartèred Accounlanls 48 Hamilton Square Birkenhoad Wrr81 Merseysido CH41 SAR 27 April 2028 Xelnadln Audlt Llmtted 18 ellglble for appointment a8 auditor of the chadty by virtue of ils eligibility for appointment as audltor ol 8 company under sectlon 1212 of the Companies Act 2006.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unmtrlct•d Restrlcl•d funds lunds 2026 2026 TotJl Unmtrlctsd RMtrlctod funds lund$ 2024 2024 Totsl 2026 2024 Not•$ Incom• Irom: Donations and leg8elèS Other trading activities Investmen18 35,643 1.801 186,079 131,065 8,487 4,316 1e6,708 10,288 190.395 11,4C 1,218 270,533 70.567 12,844 3.110 81,973 14,062 273,643 Totsl Incom• 223,523 143,868 367.391 283,157 88.521 369,678 Exp•ndltur• on: Raising funds Charitabl¢ a¢b'vitie8 42,741 9,654 42,741 102,136 38,373 3,632 38,373 81,560 92,482 77.928 Total •xp•ndltur• 52,395 92,482 144.877 42,005 77.928 119,933 Nel gainsll10s8ès1 on Investments 14 258,048 258.048 811,615 811,615 Not Incom• 429,178 51,388 480.582 1,052.787 8.593 1,061,380 Trangfers bee•n fvnds 11,0751 1,075 Net movem•nt In funds 10 428,101 52,461 480,582 1,052,767 8,593 1,061,380 Reconclllatlon of funds.. Fund balances al 1 September 2024 8,148.867 147.599 8,296,466 7,096,100 139,006 7,235.106 Fund balanc•s at 31 Augu•t 2025 8,576.968 200,060 8,777,028 8,148,867 147,S99 8,296.466 The statement of financial actlvilies includes all gains and1088e8 recognised in the year. All income and expenditure derive from continuing activits'es.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST STATEMENT OF FINANCIAL POSITION ASAT31 AUGUST2025 2025 2024 Flxed assets Tangible 85sets Investments 16 17 39.884 8,274,006 42,912 7,120.245 8,313,890 7,163,157 Currnnt assets D9blors Cash 81 bank and in hand 18 40.950 505,099 20.322 1,218,829 546,049 1,239,151 Credltors: amounts falllng duo wlthln oneye•r 19 182,911} 1105,8421 N•t currènt a$s•ts 463,138 1,133,309 Totsl assets less Current Ilabllltles 8,777,028 8.296,486 The funds of the charlty Restricted income fund5 Unrestricted funds 20 21 200,C60 8,576,968 147,599 8,148,867 8,777,028 8,296,466 The fin8nryal slalements were approved by the trustees on 27 April 2028 Mr N P Tumer TnMtee
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcle Charlty Infom)atlon The Birkenhead Sehool Foundation Trust 1$ an unino)rporated charity èstablished under a trust dated 23 January 1998 with deeds of variation dated 26 Novembor 2001 and 26 October 2002. 1.1 Basls of pr•par•tlon The financial s18lemenls have been prepared in accordance wrth the charity's goveming document, Ihe Charities Act 2011, FRS 102 "The Financial Reportlng Standard applicable in the UK and Republic of Irelan and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo chanliès prèparin9 their accounts in accordanc8 wsth the Financial Repoth'ng Standard applicable In the UK and Republic of Ireland IFRS 1021" The charity is 8 Public Benefit Entity as defined by FRS 102. The charity hos taken advantage of the provisions in the SORP lor ¢harilie8 not to prepare a staitynent of Cash flows. The financial statements have departed from the Charits88 (Accounts and Report81 Regulations 2008 only lo the extonl required to provide a true and fair view. Thi8 departure ha8 involved following the Stalem¢nt of Recommended Practice lor charities applylng FRS 102 rather than the version 91 the Slalemenl of Recommended Pr8Ctiee l¢hIS referred lo in the Regulations bul which has since tjeen wlhdfawn. The financial statements are prepared In 818rlin9, which is the fvnctlonal currency of the charfty. Monètsry amounts In the88 financlal slalem8nl8 arè rounded lo the neare81 £. The financial slalemenls have been preparèd under the hi8lorlcal cost convention, modified lo indudo the revaluation certain financi81 instruments at fair value. The principal accountsng polides adopted are 981 out below. 1.2 Golng conc•m Al the time of approving the finan¢ial $lal&monl$, the tru$l¢e8 hav¢ a r¢a80nable expectatlon that the charty h85 adequate resources lo ¢onlinue in opèrational existence for th6 foresaeab16 future. Thu8 the tr1068 continue lo adopt the going concern basis of aceounling in preparing the financi818latements. 1.3 CharltJblg funds Unrestricted funds are available for use 81 the d18cretlon of the truste88 Sn furtherance ol Ih8Sr charftable objectives. Restried fvnds are subject lo speafic conditions by donors or grantor8 as lo how they may be used. The purposes and uses of the restricted funds are set out in the note8 to the finanaal slalemenls. 1.4 Incorne Income is recognised when the charity 18 legally entitled lo il after any performance condltion$ have been met, the amounts can be me85ured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been noliffigd of the donation, unless performance contlitions require deferral of the amount. Income tax recoverable in relation lo donations received under GIft.d or ¢Jeods of covenant 58 recognisèd at the bme of tho donation. Lggacies afe recognised on receipt or otherwse if the chafty has been notthed of èn impending di5tributicffl, the amount is known. and receipt is expected. If the amounl is not known, the legacy is treated as 8 contingent asset. 10-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢countlng poll¢l•• IContlnu•dl Dlvldend8 are recognl8ed once the divSdend has been declared and nolificalion has been received of the dividend due. This is nomially upon nollficallon by our investment advisor of the dividend yiold of the inve81menl portlollo. 1.5 Exp•ndltur• Expendilurg is recognised once there is a legal or constructive obligation lo transfer economic benefit to third paty, il is probablo that a transfer of economie benefrts will be required in settlemènt, and the amount of the obligation can be mèasured rellably. Expenditure 18 classified by actlvtty. The costs of oach activty are madg up of tho total of dIrt costs and Shared co8ts, including support costs involved in undertaking each 8Ctivity. Dlreet costs attributable lo a single aclivity are ollocated directly to that 8etlvlty. Shared costs which contribute lo more Ih8n one activity and 8UPPOrt costs which arè not attributable lo a single activity are apportioned betsveen those activit$ on a basis on$i$lenl wlh the use ol resources, Central staff costs are allocated on the basi8 of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 T•nglbl• flx•d •8#•ts Tangible fixed asset$ are inillally mea8ur8d al cost and 8ubs8quenlly measured at eost or ValL10n, net of d8preclatlon 8nd any Impalmienl1088e8. Dgpreeiatlon18 r8cognI88d 80 as to write off th8 co81 or valuatlon of a88ets l•ss their reJidu81 v8lue$ over their uielul live8 on the following b880s'. Flxture8 and flttlngs 4% on co81 Tho 98in or1088 ad8Ing on the disposal of an asset is delemlned as the difference b?een the sal6 proceeds and the carying value of Ihg gssèt. and is recognised in the stslemenl of finan¢lal 8CtlvS1i63. 1.7 Flx•d a•••t Inv••tmont• Fixod asset investments are Inillally measured at Iransactlon prlce excluding transaction ¢o$ts, and ar subsequently m888ured 81 fair value al each reporting dole. Changos in lair value are recognised in net Incomellexpendilurel for the yèar. Transaction costs arg expensed as ineLsrred. 1.8 Imp•lrni•nt of flx•d a##•ts Al each reporting and dale, the charlty reviews the rryIng amounts of tts tangible assets lo determine whether thor? is any indication that those 889ets have suffered an Impalrmenl loss. If any such indution exi8t$, the reeoverable amount of the asset is eslimaled in order lo determine the oxlenl of the impairment 1088 Irf any). 1.9 Cjryh and c*#h •qulvalents Cash and cg$h equivalents include cash in hand, deposlts held 81 tall with banks, other short-1oTm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wtthln borrowing5 in current liabilities.
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng polkles (Contlnu•dl 1.10 FSnanclal Instruments The charity has eleded lo apply the w>vlsioM ol Seth'on 11 'Bwc Fin8n(aal Instruments, and Section 12 'Other Finan1 Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the balan sheet then the tharity becomes party to the contractual prov18mS of the instrument. Financial 855e15 and liabilitses afe offset. wth the net amounts presented in financJ8181atements, when there is a legally enlorceable nghl lo set off the recognised amourts and there is an intention lo sottle on a net basis or lo reali5e the asset arKI setue the liats.lty 8imullaneou8ty. 8asl¢ flnanclal •M•ts Basic financial assets. indude d¢bttys and eash and bank balances. are initially measured ai transath.on price induding Iransaebon costs arKI are subsequenlly carried al amortised cost uwng Ihe effgCtiVO interest method unless the arnangement conslilutes a finanung transocts'on, Nthere Ihe Iran5action 1$ mea$ufed al the present value of the future receipts dixounte(181 a markel rale of irrtere8t. Fin4n(a•l 08881• clas8rfied as rec6ivable wthin one year are not amorknsed. 8aslc fln•nelal Ilabllltlej Ba$1¢ financial liabililies, irKIlIftg uedrtors and bank loans are initially recogni8•d al transaction wca unle88 the arrangement constitutes a finanorwj transacti, 8[8 the debl instrumenl 1$ moa$ured at tho wgsenl value of the lulure payments di5counled at o market rate ol inleresl. Finonri•l I.11$& daMfod as payabl¢ within ono yoar are not amortised. Debt in81Nments are 8ubsequer)ty carried al 8m¢Jtsed ¢0, u8ing tho effoCtNo inttro$1 rato method. Trade credili)TB are obligat¥ to pay for goods or 80Nces that ha bwt wuired in the ordlnwy couw of operations from suppliers. Amounts payable are dassthed as current liabilities rf paymenl is due wrthin one year or le88. If not, they are presented as nort•currenl liatslth'es. Trade credrtors are renI% initsally al Iransath'on price and $ub8equentty measured al arno"88 cost ft9 the effeth've Interest method. D•rncognltloft ol Ilnan¢l41 Ihbllld•J Financial Iiatslilies are derecognised vthen the drity'S CtraCtUal obligabon8 expire or are di8chargod or ancell•d. Crltlcil •¢w>untlng Mllmal•8 and Judgffiwnts In the application of Ihe chanty'8 accounkn"ThJ le8. the truste68 requirèd to make judggmenl$. oslimales and assumptions about the carrying amount of assets and liatslibe$ that are readily apparent from other sources. The esbmales and assorAated assuMptS are based on historical expenenc• ano other factcKs that are considered to be relevant. Actual results may differ from these ests'mate$. Tho estimates and undedying assumptsons are revivA*d on an orwing basis. RslOn5 to &rcourrtirvJ estimates are reniSed in the Feriod in wthith the estimate fowsed where the revision affects lY that period. or in the period of the revigon and luture periods where the re¥lon affeds both curr8nl and futuie pèriods. 12-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Incom• from donatlons and l•gaclos Unmtrlet•d Reltrlctod fund¥ fund¥ 2026 2026 Total Unr•strlct•d Rostrf¢tsd funds lund• 2024 2024 Total 2026 2024 D$t1¢n8 and gifts 35,843 131,(h35 166,708 11,4( 70,567 81,973 Incom• from oth•r tr•dlng •¢tlvlti Unmtrfct•d R•strlct fund# fund• 2026 2026 Totsl Unmtrkt•d RMtrl¢t•d nds lund• 2024 2024 TotJl 2025 2024 Non.chadlable trading ath'vities Fundralling aven18 1,801 1.218 1,218 12.844 8,487 8,487 12.844 Othef tradlng actNities 1,801 8,487 10,288 1.218 12,844 14,062 Incom• from In¥Mtm•nl• Unmtrlct•d R••trlct•d lund• fund• 2026 2025 Tot*1 Unre•trlct•d R•strl¢t fund8 lund• 2024 2024 Total 2026 2024 Rental Income Income from listed In$1mentS 90,S92 90,592 188,079 4,318 190.395 179,941 3,110 183,051 188,079 4.316 190.395 270.533 3.110 273,643 Exp•ndltur• on rnlllng lunds Unrnstrlcted Unr•$trlct8d funds fund• 2025 2024 Tradlng cotyts Depreath'on and impaimenl 3.028 3,028 Investment managem•nl 39.713 35,345 Totsl $t5 42.741 38,373 13-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Expendlture on charltable a¢thiltl•s Grants payable 2026 Grants payable 2024 Dlrect costs CharitatrAe dLNiations 21,321 4,814 Grant funding of acts"vth"es (see note 8) 71.161 73.114 Shar• of support and gov•rnanu Costs {$w n¢)t• 9) Support Govemance 382 9,292 132 3,500 102.136 81.580 Analysls by fund Unreslncted funds Restricted fijnds 9.654 92.482 3.632 77.928 102.136 81.560 Grants payablg Grants payable 2026 Grnnts payable 2024 Grants lo institLrtions'. Birkenhead School 71.161 73.114 Support costs allocated to acthittl•s Grants payable 2026 Totsl 2024 Bank charges Goveman 362 9,292 132 3,500 14-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 10 N•t mov•m•nt In funds 2026 2024 The net movement in is slated after drgi{crediting). Fees payable lo the canty's audrtor.. - for the audit of the tharity'$ financial ststemgnl$ - for other flnancial 8erv6ces Deprwalion of owned tangible fixfjd assets L088llprofill on d18posal of inve8tment 3,250 2.500 3,028 1,500 2,000 3.028 1214.7561 11 Audltorf• r•mun•rntlon Fee8 payable to the choriV8 aLKlitor and 2025 2024 Foi •udft ••tvk Audll of the financial st4tomonl8 of the carty 3,250 1,500 For oth•r #•rvk•• All other non-audil 8ervius 2,500 2,000 12 Tru¥t• None of the trustees lor ary pw¥M8 connected with them) r•celved any remuneration ¢y ben8fi1$ from th chority during thg yèar. 13 Employ••• The average monlhly number of •MoYeeS dudng year was.. 2026 Numb•r 2024 Numb•r Total There were no 9mpk>ye wtM)se annual rwnun•ration was morè than £80,0. 14 G•ln• and losM• on ITrv•8tm•nts Unregtr1ct Unr•strlct funds funds 2025 2024 Gain81110s8esl ariwng on". Revaluation of Investments Sale of investments Sale of investment properties 275,783 (17,735) 565,184 31.675 214,758 258.048 811,615 15-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 15 Taxatlon The charty is exempt from tsxation on its activilies because all its income is applied for charitable purposes. 16 Tangible flxed assèts Flxtur•s and flttln Cost At I September 2024 75,704 At 31 August 2025 75.704 D•pre¢latlon and Impalm)onl At 1 Seplembei 2024 Depfec¢alion charged in the year 32,792 3,028 At 31 August 2025 35.820 Carrylng amount Al 31 August 2025 39.884 Al 31 August 2024 42,912 17 Flxed asset Investments Llstsd Inv•stmonts Cash In portfollo Total Cost or valuatlon Al 1 September 2024 Additions Valuation changes Disposals 7,027,016 1,847,834 275,783 {1,020,8631 93,229 51,007 7,120.245 1,898.841 275,783 {1,020.8631 Al 31 August 2025 8,129,770 144,236 8,274.006 Carrylng amount At 31 August 2025 8,129,770 144,236 8,274,006 At 31 August 2024 7,027,016 93,229 7,120.245 16-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 17 Flxod a8Sgt Investments Icontlnuedl 2025 2024 Inveslmerrts al fair value comprise.. Govemment stocks United Kingdom equities and fumds Overseas equthes and frJnds 968,424 2.151.776 5.009,570 682,032 2.236,953 4,108,031 8.129.770 7.027,018 Thg historical cost of the investments is £8,978,89512024'. £6,093,5S81 18 Debtorn 2025 2024 Amounts falllng due withln onè yèar: Other debtors 40,950 20,322 19 Credltorn: amounts falllng du• wlthln one year 2025 2024 Amount owed to parent undertaking Accruals and deferred income 71,161 11,750 96,414 9.428 82,911 105,842 20 Restrlcted funds The restricted funds of the charity eomprise the unexpended balances of donations and grants held on trust subject to spttific conditions by donors as lo how they may be used. At1 September 2024 Incomlng ources Resources expended Transfers At 31 August 202S Burnaries Fundraising activities 132.096 15.503 135,381 8,487 171,1611 121,3211 1.075 197,391 2,669 147,599 143,868 192,4821 1.075 200.060 17-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 20 Restrlct•d funds {Contlnued} Prevlou$ yoar: At1 September 2023 Incomlng Resources resources exponded Transfer¥ At 31 August 2024 Bursarigs Fundraising activities 131,531 7,475 73,677 12,844 173,114) 14.814) 132,094 15,505 139,006 86,521 177,928) 147,599 21 Unrestrlcted funds The unrestricted fvnds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors aThJ grantor5 as to how they may be used These include designated ftjnds which have been set aside out of unrestn.cted funds by the Iru$tees for speafic purposes. At1 September 2024 Incomlng resources Rosources exp•nd Trnnsf•r8 Galns and At 31 August losses 2025 H Brewer Organ Fund Gracey & War Memorial Fun General fvnds 5.207 5.207 15,160 203.156 15,160 8,556,601 8,148,867 152,3951 {1,0751 258,048 8,148,867 223,523 152,3951 11,0751 258,048 8,576,968 Prevlous year: At1 September 2023 Incomlng resources Resou8¥ expendod Transfors Galns and At 31 August 1088oS 2024 General fijnds 7,0*,100 283,157 142,0051 811,615 8,148.867 22 Analysls of not assets bètween funds Unro$trl¢tgd funds 2025 Rostrlcted funds 2026 Total 2025 At 31 August 2025- Tangible assets Investment5 Cuent a$5elsllliabilitiesl 39.884 8,094,850 442,234 39,884 8,274,OC6 463.138 179.158 20,904 8.576,968 200,060 8.777.028 18-
THE BIRKENHEAD SCHOOL FOUNDATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 An•tysls of not assets betrwoon funds Icontlnuod Unre8trlcted funds 2024 Re8trlct8d funds 2024 Tot•1 2024 At 31 Augult 2024: Tangible assets Investments Current asselsllliabilities 42,912 6,978,$48 1,129,407 42,912 7,120,245 1,133,309 143,697 3,902 8,148,867 147,599 8,296,466 23 R•l•t•d party tran•actlon• Durlng the year, the Trust made bur8ary of £71,160 12024.. £49,952) to Birk8nhg8d *hool to 8UPPOrt the provijion of a181•d place¥ in accordance with the Tru81'8 charttsble obj8ctlve8. Durfng the year. no donalion812024.' £23,181) wgrg made by tho Trust lo 8irkonho4d School. Thg Trust 8180 received no donalion812024,' £23,181) from Birkonhgad School. Al the balan¢¢ sheet date, £71,16112024'. £98,414) was due to Blrkenhead School {Included thIn credkor8I. The bal8nce is unsecured, Interesl-free and repayable on domand. The Iwslegs consider that all Ir8n8actlons wllh 8lrkenhead School were undertaken In furtherance of the TnJ8t'8 charitable purpo8e8 and on lemi8 equivalent lo Ih08e prevoiling in arm's-lenglh Iransadion8. 24 Ulllmato controlllng p•rty The chaty 18 a wholly owned 8ub8ldlary Blrkenhead School, 8 charilablg company Ilmlled by guarantee reglslered In England and Wales. Birkenhead School 1$ the ultimate controlling party. The charity is included in the con8olldaled group accounts of Birkenhoad School. Copiès ol the group 8ccount$ ar8 8vail8blè frcm Companie8 House.