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← Priors Court Foundation

2025-08-31-accounts

Prior’s Court Foundation Report and Financial Statements For the year ended 31 August 2025

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The Trustees of Prior’s Court Foundation present their Statutory Report (incorporating the Strategic Report) and Financial Statements for the year ended 31 August 2025

Contents

Trustees’ Statutory Report (incorporating the Strategic Report):

Trustees’ Statutory Report (incorporating the Strategic Report):
Our purpose, Our services, Our plans 4
Review of the year 5
What next? 8
Financial Review 10
Statement of Compliance, Reference and Administrative Details 12
Governance 13
Statement of Trustees’ Responsibilities 15
Independent Auditor’s Report to
the Members of Prior’s Court Foundation 16
Financial Statements 19
Notes to the Financial Statements 22
Patron, List of Members and Trustees, Executive Team,
Committees, Advisors and Registered Office 38

Ofsted outstanding

Strategic Report

Our purpose

To transform the lives of autistic young people with complex needs, helping them to build a brighter, more independent future.

Our services

Prior’s Court is a registered charity providing education and residential care for autistic young people with complex needs, aged 5-25. Set within a 50-acre site in Berkshire, we have extensive bespoke facilities to help the young people we support to be healthy, happy, more independent and have the opportunity to access the world of work.

Our plans

Our future plans are codified in two documents - Painting with our Own Colours which is our organisational strategy for the period 2024 to 2027, and a 2025/26 Organisational Priorities Document. Both of which are available on our website.

Review of the year

2024/25 was our 25th anniversary year and the year started with the 250th young person to be supported by Prior’s Court starting their time with us. It ended with the passing of our inspirational Founding Patron, Dame Stephanie Shirley, at the age of 91.

2024/25 was also the first year of our three-year organisational strategy, Painting with our Own Colours . The first year was set up to be the “inside” year – a strategic focus on what we’re doing internally as an organisation and getting that right before we even begin to look further afield.

There has been a real focus on having the right people in the right places getting the right support. Our recruitment and onboarding function was brought back in-house after a period of outsourcing. This showed encouraging results on the numbers of staff being taken on, while staff support measures to improve retention were enshrined in a retention strategy.

There has been investment in new posts in our Care, Therapy and Transport services, and a strengthening of our pipeline of qualified teachers.

We have restarted a training and career pathway built around the TEACCH[®] approach. This offer features TEACCH[®] autism training at intermediate and advanced levels after a gap of some years due to the pandemic.

Meanwhile, 2024/25 saw the first time a 5-day hands on TEACCH[®] classroom training course was held at Prior’s Court since before the pandemic. This was the UK’s only 5-day hands on TEACCH[®] classroom training course, led by a Clinical Director and the Director of Training from the TEACCH[®] Autism Program, University of North Carolina. With the same course, and a Beyond the Basics next level course, being offered in 2025/26. Prior’s Court is cementing its place as the leading provider of TEACCH[®] -related training in the UK.

Getting the systems around those people right is equally as important. There has been the creation of renewed health & safety systems and culture, and GDPR and data management awareness systems.

Autism practice development has been a key feature of 2024/25, becoming a tangible and permanent feature of our operations with measurable impact.

Student capacity increased in 2024/25 with the introduction of a full day class, which will be further expanding in 2025/26. There is a plan and a date now in place to achieve full residential capacity, after the closure of two residential homes during the immediate post-pandemic period.

Following on from a successful £1.1m fundraising campaign, the new Piper Arts Centre was opened and with it a new performing arts curriculum. The combination of a bespoke, purpose-built facility and a detailed, knowledgeable learning programme is already producing success stories of young person achievements.

With all these efforts on improving our services internally, it was reassuring to receive an Ofsted Education ‘Outstanding’ rating for our School provision and an Ofsted Care ‘Good’ grading for our Children’s Home.

And on the financial side, the organisation delivered a financial surplus which was short of budget only by the amount of increase to Employers’ National Insurance Contributions.

It has been a year of progress. But also, a year of loss. Overall, ultimately, the steps forward Prior’s Court is making would, we feel, make Dame Stephanie Shirley proud.

Festive feeling

Young people at Prior’s Court and students at Downe House School worked together to produce a Christmas song called “Christmas Joy”.

Both groups of young people came up with lyrics and Tomson Chauke, one of our Autism Practitioners, and musician Pete Doyle, worked with Michael Liggins from Downe House School to produce a festive feeling melody with support from musician Knowledge Nkoma in Tomson’s native Zimbabwe.

The song was released in December 2024. It has received more than 150,000 views online.

5-Day TEACCH course returns

The UK’s only 5-Day hands-on TEACCH® classroom training course, led by a Clinical Director and a Clinical Associate Professor from the TEACCH[®] Autism Program, University of North Carolina, was held at Prior’s Court in February 2025.

A total of 24 delegates, including 11 Prior’s Court staff members, completed the course.

First holidays in Children’ Home

Holidays for the young adults in our Young Adult Provision are an established offering. But in June 2025 two young people living in Prior’s Court’s Children’s Home became the first to go away on a holiday.

Young people Daniel and Harry stayed at lodges in Blackwood Forest and enjoyed day trips out to the beach, supported by Prior’s Court staff.

25th anniversary celebrations

Prior’s Court’s annual May Day Bank Holiday music festival doubled up as the main 25th anniversary year celebration in 2015.

Current young people and their families and current staff were joined by ex-staff members and former Prior’s Court young people and their families at the event. A communal artwork activity, a special guestbook featuring an image of the Court House building and the planting of a Corkscrew Hazel tree all marked the anniversary.

Piper Arts Centre

opens

In June 2025, the Piper Arts Centre was opened – a purpose-built facility supporting autistic young people with complex needs to explore music, movement and drama in an environment tailored to them.

The opening featured performances by young people at Prior’s Court and highlighted how the performing arts can unlock powerful opportunities for self-expression and demonstrate the remarkable capabilities of autistic individuals with complex needs when supported in the right way.

Ofsted successes

Prior’s Court School retained its Ofsted Education ‘Outstanding’ rating in style- “pupils flourish at this remarkable school” was one comment from inspectors.

And Prior’s Court’s Children’s Home was graded as “Good” by Ofsted inspectors - the 13th Ofsted inspection in a row our care provision has been rated as “Good” or “Outstanding”.

“Impossible dream” achieved for Tezira

Young adult Tezira was supported by Prior’s Court staff to go on an overseas holiday to Mallorca.

The experience is especially meaningful, as Tezira’s family hopes she may one day be able to visit relatives in their home country of Uganda.

It was Tezira’s first flight since she was three-years-old – going on a flight again was described by Tezira’s mum as “an impossible dream” which has now been achieved.

Young person progress data

The table to the right shows the average number of I Can statements achieved per young person as set, with prompt levels, within each Area of Learning over the past three years. This data covers both Prior’s Court School and Prior’s Court Young Adult Provision.

Notes on this data:

Area of Learning 2022-23 2023-24 2024-25
Communication 6.5
~~ee~~
~~ee~~		 10.5
~~ee~~
~~ee~~		 14.2
Daily Living Skills 10
~~ee~~
~~ee~~		 8
~~ee~~
~~ee~~		 7.3
Functional Academics 15.5
~~ee~~
~~ee~~
~~ee~~		 52
~~ee~~
~~ee~~
~~ee~~		 47.3
Healthiness 10
~~ee~~
~~ee~~		 11.5
~~ee~~
~~ee~~
Healthiness - Care ~~ee ~~
~~ee~~		 ~~ee~~
~~ee~~		 2.9
Healthiness - PE ~~ee~~
~~ee~~		 ~~ee~~
~~ee~~		 7.6
Keeping Me Safe 5
~~ee~~
~~ee~~		 7.5
~~ee~~
~~ee~~		 6
Positive Behaviour Support 9.5
~~ee~~		 14
~~ee~~		 10
Vocational Learning 53.5
~~ee~~		 43.5
~~ee~~		 58.8
Average I Can's achieved per
young person		 15.5
~~		 ~~ 21
~~

Progress as percentages

The table on the right shows the percentage of young people (in the School and Young Adult Provision) who achieved expected, or higher, progress:

Notes on this data:

Area of Learning 2023-2024 2024-2025
Communication
~~P		 ~~ 78%
~~P
Daily Living Skills
~~P		 ~~ 29%
~~P
Functional Academics
~~P		 ~~ 89%
~~P
Healthiness
~~Pe~~		 54%
~~Pe~~
Healthiness - Care ~~ ~~
Healthiness - PE ~~ ~~
~~
Keeping Me Safe
~~P		 ~~ 78%
~~
Positive Behaviour support
~~P		 ~~
~~P		 ~~
~~
Vocational Learning
~~		 ~~ 74%
~~

•[We continue to support staff in leadership, ] delivery, and moderation to ensure all seven Areas of Learning are achieving the best possible outcomes. Where we have separated Healthiness, the overall figure remains roughly the same percentage, but there will be a focus in 2025/26 on improving the outcome in Healthiness Care. It is noted that the figures for number of I Cans available are less than other Areas of Learning, and therefore overall data for this area is affected when a small proportion of young people make below progress.

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What next?

When our organisational strategy for 2024 to 2027 was launched, the stated ambitions of Prior’s Court were:

1. Aim to achieve the level of staffing to re-open to our full capacity of around 95 children and young people, following a reduction due to cost and staffing pressures in the years after the pandemic.

2. Open our new performing arts centre, with an entirely new arts curriculum that is inclusive of all, both performers and audiences.

3. Find ways to improve the lives of more autistic young people. This may be by sharing our experience, working in partnership with other education organisations, and facilitating the creation of suitable adult placements for autistic people leaving structured education and training.

4. Completely refresh our approach to autism (the Prior Approach) to take account of a post-pandemic world and to update our evidence-based practice.

5. Facilitate the voice of autistic young people with complex needs, and their families and those who advocate for them, ensuring they are included in the development of social policy.

As can be seen in the review of the year on page 5, progress has been made in all of these ambitions (indeed, aim number two has been completed).

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•[A ]

Streamlined Energy & Carbon Reporting (SECR)

Comparative
Reporting Year
2023-24
UK GHG Emission
and Energy Data
Current
Reporting Year
2024-25
UK GHG Emission
and Energy Data
Energy consumption used to calculate
emissions (kWh); all mandatory energy
sources are included.
3,446,776
5,324,645
Total gross CO2e based on above (tCO2e)
813.8
1,238.8
Intensity Ratio : kg CO2e gross based on
mandatory felds above per metre square
of Gross Internal Area: (kg CO2e m–2), being
18,490.9 m2
44.0 kg CO2e m–2
67 kg CO2e m–2

Methodology

An evidence–based methodology was adopted in accordance with BS EN ISO 14064–3:2019, Section 4.3; verifiable data has been collected from the following sources:

Energy Data: Energy Metering, Invoices, Repayment Claims for
business mileage and correspondence with suppliers
and school.
Previous Audit Data: Based on SECR 2023-24 reports
Emission Conversions: The 2019 Government Environment Reporting
Guidelines and the GHG Protocol Corporate Accounting
and Reporting Standard (revised edition) were
followed. The 2025 UK Government GHG Conversion
Factors for Company Reporting were used in Emission
calculations.

Energy Efficiency Action

In the reporting period, September 2024 August 2025, emissions have increased by 47.71%. This is driven by the fact that we are now required to report oil consumption.

The Trust remains committed to reducing its carbon footprint and has arranged the following energy efficiency actions to be implemented in the near future:

Financial review

Commentary on consolidated balance sheet and results for the year

The consolidated group accounts include the ongoing operations of Prior’s Court Services Limited. Prior’s Court Trading Limited was dormant this financial year.

Group incoming resources increased to £25,613,899 (2024: £22,969,583). This included donations of £298,422 (2024: £808,582) a decrease on last year due to the main funding for the Piper Arts Centre being raised in 2023/24. Average occupancy increased to 88.8% (2024: 84.2%) because of the opening of a new day class.

Overall, the Group reported a net surplus of £984,623 (2024: £1,015,145). This was short of budget due to the Employers National Insurance increase in April 2025.

Unrestricted reserves increased to £4,244,182 in the year (2024: £3,116,388). The reserves are less than the target level of £6.0m currently set by the Board of Trustees.

Expenditure on fixed assets during the year totalled £915,764 (2024: £1,271,723). This included £465,964 of expenditure completing the Piper Arts Centre. Other expenditure included a £76,783 investment in new minibuses for the site and £41,610 investment in the refurbishment of our temporarily closed accommodation within the children's home.

At the year end the Group had a net debt of £471,542 (2024: £1,224,886). This movement in net debt is a result of increased pupil numbers and reflects efficiency improvements in our cash collection.

With increasing demand for specialist provisions and stringent Ofsted requirements, the Trustees recognise that investment in staffing, operations and the existing estate is critical to maintaining service quality. The policy thus remains for surpluses generated to be reinvested in the group to support these goals, minimise net debt, and maintain a financially secure organisation to achieve future benefits for young autistic people with complex needs.

Prior’s Court Services Limited

As at the end of this financial year 96% (2024: 97%) of our contracts for the provision of education and care services are with Prior’s Court Services Limited. All new placement contracts are raised with our subsidiary Prior’s Court Services Limited.

Prior’s Court Trading Limited

There was no activity in Prior’s Court Trading Ltd as all bakery activity continues to take place in Prior’s Court Foundation. Dormant accounts are being filed for this financial year.

Fundraising

The Foundation is registered with the Fundraising Regulator and, as such, adheres to the Fundraising Code of Practice. We do not engage any third-party fundraisers and comply with the key principles and behaviours of the Code to ensure we take all reasonable steps to protect vulnerable people from inappropriate or unwelcomed fundraising approaches. The Foundation has not received any complaints about any aspect of its fundraising.

It is thanks to the generosity of donors that Prior’s Court is able to provide the best possible education and care to autistic young people. Funding from donors supplements the income we receive from Local Authorities and enables us to provide the best facilities, equipment, and activities possible for the young people at Prior’s Court. Thank you to every individual, Trust and organisation that donated, provided Gifts in Kind, fundraised, or given up their time to help improve the lives of autistic young people with complex needs.

During the current year the fundraising team raised £298,422 of voluntary income (2024: £808,440), of which 47% was restricted to our Performing Arts Centre Appeal and 25% was restricted to improving the sensory provision across site. The remaining donations supported other areas of our work including creating autism specific events onsite for young people, adding additional play equipment across site to help with emotional regulation, providing equipment to help with sensory challenges, and ensuring the very best education and care. Further details can be found in note 5 on page 24.

June 2024 saw the opening of the Piper Arts Centre, the creation of which has been a capital fundraising appeal since 2022. The Piper Arts Centre is a bespoke, state-ofthe-art, autism specific performing arts centre designed to enable young people at Prior’s Court to benefit directly from the transformational power of the arts, as well as become de-sensitised to accessing mainstream performing art spaces. In the few months since its opening, all young people have entered the centre and begun benefitting from the space.

We would like to thank everyone who has supported Prior’s Court over the past year in the form of donations, fundraisers, partnerships, Gifts in Kind and volunteering. This includes individuals, Trusts and Foundations, and the following companies:

AWE Jo Thompson Recruitment
Blandy and Blandy LLP Kärcher UK
Blue Marble Group Netwrix
BNP Paribas Leasing Solutions New Look – Didcot Store
Boyes Turner LLP Newbury Building Society
CarneySweeney Octopus Energy
Century Recruitment Rebound Electronics
Chieveley Village Stores Scion Communications Fire & Security
Donnington Grove Golf Club Sophos Ltd
Edwards Lifesciences Stikins
Fortra Tanium Inc
Gamma Communications Unum Ltd
Greenhouse Graphics Vodafone Limited
Greenham Construction Visa UK
Henwick Properties

We also acknowledge with gratitude all those whom we cannot list here or who wish to remain anonymous.

Reserves

The Trustees regularly review the Group’s financial position, including monthly management accounts and spending against budget and updated forecasts. The impact of the current staffing challenges continues to make this significantly important. This stewardship is critical to monitor closely the local government fee income needed to fund the operating expenditure - mainly staff costs required to provide the specialist care which our pupils need twenty-four hours each day throughout the year.

Our current long-term target for free reserves is £6.0m based on the consideration of future plans and longer term risks. This level is higher than our current reserves level which in the short to medium term is considered to be sufficient for the ongoing operations as we work toward increasing pupil numbers back up towards capacity.

Going concern

Prior’s Court remained fully operational throughout this financial year. The organisation continues to focus on recruitment and retention to improve our staffing position. Work is currently underway to refurbish a closed home on site which should be fully operational in 2025/26, therefore, enabling the increase in pupil numbers back towards capacity.

Based upon this the Trustees have examined the major risks and the mitigating actions available to be taken and have reasonable expectation that the Foundation has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Investment policy

The Trustees are authorised under the Articles of Association to invest any monies in an investment authorised by law for charity funds.

The aim of the Foundation is to apply its income in support of its charitable objectives and investment of surplus funds will only be considered as an interim measure in respect of as yet uncommitted cash surpluses. All investment activities involve risk and reward, and the policy of the Foundation is to achieve a satisfactory return whilst minimising risk.

Overall responsibility for investment decisions lies with the Trustees. The management of investment activities is delegated to the Director of Finance, who reports regularly to Trustees on any investment activities as part of their regular financial reporting.

The Executive team have regularly updated financial forecasts and considered future projected cash flows for a range of scenarios based on current staffing challenges and other economic factors. Prior’s Court retains a healthy pipeline of pupils and placements and ongoing demand for places from funding authorities.

Statement of Compliance, Reference and Administrative Details

This report complies with the Charities Act 2011, the Companies Act 2006, as amended by the Companies Act 2006 (Strategic Report and Directors’ Report Regulations 2013), Prior’s Court Foundation’s Articles of Association, which is its governing document, and the Statement of Recommended Practice – Accounting and Reporting by Charities (SORP), effective January 1, 2015 – Charities SORP (FRS 102).

REFERENCE AND ADMINISTRATIVE DETAILS

Legal constitution, operating names

Prior’s Court Foundation is a company limited by guarantee, number 3583324 (“the Company”) incorporated on June 12, 1998 and a registered charity number 1070227 (“the Charity”). The members of the Company, who are also the Directors of the company and the Trustees of the Charity, each agree to contribute up to £1 in the event of the Charity winding up; throughout this report they are collectively referred to as “the Trustees”.

The Charity also operates under the name of Prior’s Court School (the “School”), Prior’s Court Young Adult Provision (the “Young Adult Provision”) and Bread & Beyond (the trading name of the Bakery operations which transferred into the Foundation on August 31, 2021 following the winding up of operations within Prior’s Court Trading Limited as at that date (see below).

Objects and activities

The objects of the Charity are set out in the Articles of Association. The main object is summarised as: “to promote the education, welfare and relief of people (and in particular, but not exclusively, children and young adults) who suffer from any one or more of the following:

The Charity addresses its objects by offering:

The Charity owns 100% of the ordinary share capital of Prior’s Court Services Limited (a private company limited by shares number 10998772) which was incorporated during the year on 16 May 2019.

The Charity also owns 100% of the ordinary share capital of Prior’s Court Trading Limited (a private company limited by shares number 10886137) which was incorporated on July 27, 2018 and until August 31, 2021 traded under the trading name ‘Bread & Beyond’. From August 31, 2021 this company is dormant.

Public benefit

In setting the Charity’s goals and planning activities the Trustees have given due consideration to the published Charity Commission guidance on the operation of the public benefit requirement of the Charities Act 2011. As places for young people are assessed on the needs of the students and the fees are entirely paid by Local Authorities the Trustees consider that the public benefit requirement has been met. Furthermore, we have made specialist autism training and development services available again to other schools and external organisations from across the country.

Governance

Trustees, Executive Team and appointed advisors

The Trustees, (detailed, together with the subcommittees on which they serve, on page 38) determine the general policy of the Foundation. The Trustees are appointed by the company membership and serve for up to three years, retiring by rotation and being eligible to serve for two further terms under the Articles of Association.

The Board of Trustees, which may have up to 15 members, administers the Foundation and is responsible for approval and review of the Foundation’s long-term strategic plans. The Board meets quarterly, and its sub-committees cover the different areas within the Foundation. The Chief Executive leads the Executive Team and is responsible to the Trustees for overseeing all operations within the Foundation as well as the framework for staffing, education and residential care requirements for the School and the Young Adult Provision.

The role of parent-appointed and staff-appointed advisors (named on page 39) is to act as a link between the Trustees and the stakeholders they represent. The members of the Executive Team are listed on page 38. The Foundation’s professional advisors are listed on page 39.

Key management personnel

Key management personnel and the Trustees are named on pages 38 and 39.

The remuneration of key management personnel is set by the Board, following advice from the Nominations Committee. The policy objective is to provide appropriate incentives to encourage enhanced performance and to reward them fairly and responsibly for their individual contributions to the Foundation’s success.

The remuneration policy is reviewed annually to ensure it remains appropriate and relevant. The committee benchmarks remuneration against similar organisations in the charity sector to ensure that Prior’s Court remains sensitive to the broader issues of pay and employment conditions elsewhere. We aim to recruit, subject to experience, at the median point within a band, providing scope for rewarding performance in the future. Delivery of the Foundation’s charitable vision and purpose is primarily dependent on our key management personnel, and staff costs are the largest single element of our charitable expenditure.

Trustees’ induction and training

New Trustees are appointed at full Trustee meetings upon approval by the existing membership and are briefed on their legal obligations under charity and company law, on the content of the Articles of Association, on the committee and decision-making processes, and on the business plan and recent financial performance of the Foundation.

All Trustees are required to undertake regular safeguarding training. Further training is provided to give an overview of our autism best practice and relevant areas of education, residential care and organisational management such as risk management.

During their induction new Trustees meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

SECTION 172 (1) STATEMENT

In 2018 the Companies (Miscellaneous Reporting) Regulations introduced a requirement for large companies (including charities) to publish a statement describing how the directors (charity trustees) have had regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 which relate to the interests of stakeholders in their decision making.

Statement of Engagement with Employees

In line with the requirements of the Companies (Miscellaneous Reporting) Regulations 2018, the Board of Trustees has engaged with employees throughout the year via the staff representatives who attend quarterly board meetings; discussions with the Executive Team and on-site visits.

Employment Policy

The Foundation is an equal opportunities employer and this is laid out in the Employee Handbook. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment needs. Communication, consultation with employees and training (including safeguarding and health and safety) is a key focus at Prior’s Court.

Statement of the Group’s Business Relationships with Suppliers and other Stakeholders

The group continues to engage with a large number of stakeholders, the most important of which are the families of our young people and their placing authorities.

With the vast majority of young people being 52-week residents at Prior’s Court the trust and forging of good relationships with parents is critical. During the year we held a number of online forums with parents to

share information about the organisation’s plans and to discuss issues raised by parents. We also work closely with local authorities to ensure the young people’s needs are being met and strive for outstanding progress in all aspects of their development. The Trustees also recognise that organisationally our success is built on strong business relationships with key suppliers who understand the unique circumstances within which we operate and partner with us in a cost-efficient way to deliver the often bespoke services required.

Risk Management

The Trustees recognise their responsibilities in the management of risk and have a risk management strategy which comprises:

At the end of the financial year, all risks were rated acceptable or above appetite. No risks were rated as high by the Trustees.

Provision of information to auditors

Each of the persons who is a director at the time when this report is approved has confirmed that

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Trustee Body of Prior’s Court Foundation Limited on 15th December, 2025 including in their capacity as company directors, approving the Strategic Report contained therein, and is signed as authorised on its behalf by:

Buchan Scott Interim Chair of Trustees Date: 15th December 2025

Michaela Woodley Company Secretary

Date: 15th December 2025

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Prior’s Court Foundation for the purposes of company law) are responsible for preparing the Annual Report of the Foundation Trustees (incorporating the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

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

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

Prior’s Court Foundation Independent Auditor’s Report to the members of Prior’s Court Foundation for the year ended 31 August 2025

Opinion

We have audited the financial statements of Prior’s Court Foundation for the year ended 31 August 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Foundation Balance sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

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

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

Responsibilities of Trustees

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

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

Auditor’s responsibilities for the audit of the financial statements

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

A further description of our responsibilities for the audit of the financial statements is located on the

our auditor’s report.

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

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

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

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the group and charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the group and charitable company for fraud.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

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

Financial Reporting Council’s website at: www.frc.org. uk/auditorsresponsibilities. This description forms part of

Use of our report

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

Alastair Lyon Senior Statutory Auditor

For and on behalf of Crowe U.K. LLP Statutory Auditor Reading

Date: 18 December 2025

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Consolidated Statement of Financial Activities

(including an income and expenditure account)

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----- Start of picture text -----
Note Unrestricted Restricted Total funds Total funds
funds 2025 funds 2025 2025 2024
£ £ £ £
Income from:
Trading Activities 6 8,710 - 8,710 10,093
Donations 5 19,552 278,870 298,422 808,582
Charitable activities:
Provision of education & care 25,269,567 37,200 25,306,767 22,150,908
Total 25,297,829 316,070 25,613,899 22,969,583
Expenditure on:
Raising funds:
Finance costs 8 160,149 - 160,149 185,768
Fundraising costs 9 150,877 - 150,877 119,073
Charitable activities:
Provision of education & care 10 22,797,830 487,802 23,285,632 20,826,367
Marketing and communications 10 258,322 - 258,322 179,162
Staff training 10 774,296 - 774,296 644,068
Total 24,141,474 487,802 24,629,276 21,954,438
Net movement in funds 1,156,355 (171,732) 984,623 1,015,145
Total funds brought forward 22,251,150 308,458 22,559,608 21,544,463
Total funds carried forward 21 23,407,505 136,726 23,544,231 22,559,608
----- End of picture text -----

The notes on pages 22 to 39 form part of these accounts.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Consolidated Balance Sheet at 31 August 2025 Company number: 3583324

Note
Foundation
Group
2025
£
2024
£
2025
£
2024
£
Fixed assets
Intangible assets
13
25,548
72,810
25,548
72,810
Tangible assets
14
21,426,658
21,463,942
21,426,658
21,463,942
Investment in subsidiary undertakings
15
500
1,000
-
–
21,452,706
21,537,752
21,452,206
21,536,752
Current assets
~~eS~~
~~—~~
Stocks
16
13,455
14,448
13,455
14,448
Debtors
17
4,292,496
4,256,033
6,554,532
4,515,654
Cash at bank and in hand
1,817,341
1,176,022
1,817,341
1,177,104
6,123,292
5,446,503
8,385,328
5,707,206
Creditors
Amounts falling due within one year
18a
(2,058,172)
(2,391,174)
(4,277,676)
(2,555,615)
Net current assets
4,065,120
3,055,329
4,107,652
3,151,591
Total assets less current liabilities
25,517,826
24,593,081
25,559,858
24,688,343
Creditors
~~i~~
~~————~~
~~————~~
Amounts falling due in more than one year
19
(2,015,627)
(2,128,735
(2,015,627)
(2,128,735)
Net assets
20
23,502,199
22,464,346
23,544,231
22,559,608
Capital and reserves
Restricted funds
22
136,726
308,458
136,726
308,458
Unrestricted funds– General
21
4,202,150
3,021,126
4,244,182
3,116,388
Unrestricted funds– Designated
21
19,163,323
19,134,762
19,163,323
19,134,762
23,502,199
22,464,346
23,544,231
22,559,608
~~tt~~
The net surplus for the financial year dealt with in the financial statements of the parent company was
£1,037,853 (2024: £1,029,527).

The financial statements were approved and authorised for issue by the Board of Trustees on 15th December 2025.

Buchan Scott Interim Chair of Trustees

Colin Hayfield FCA Chair of Finance Committee

The notes on pages 22 to 39 form part of these accounts.

20

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Consolidated statement of Cash Flows

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----- Start of picture text -----
2025 2024
£ £
Cash flows from operating activities
Net income/(deficit) per statement of financial activities 984,623 1,015,145
Depreciation 14 942,800 907,343
Amortisation 13 47,262 70,951
Bank interest paid 8 160,149 185,768
-
Loss on disposal of fixed assets 1,141
(Increase)/decrease in debtors (2,038,878) (2,733,595)
(Increase)/decrease in stock 993 781
Increase/(decrease) in creditors 1,722,060 864,432
Cash generated by operating activities 1,820,150 310,825
Cash flows from investing activities
-
Proceeds from sale of fixed assets 9,107
Purchase of fixed assets (915,764) (1,271,723)
Cash used in investing activities: (906,657) (1,271,723)
Cash flows from financing activities
New bank loan - 2,455,000
Bank loan repaid (113,107) (3,538,694)
Interest paid (160,149) (185,768)
Cash (used in)/generated by financing activities (273,256) (1,269,462)
Change in cash and cash equivalents in the year 27 640,237 (2,230,360)
Cash and cash equivalents at the beginning of the year 1,177,104 3,407,464
Total cash and cash equivalents at the end of the year 1,817,341 1,177,104
Cash at bank and in hand 1,817,341 1,177,104
----- End of picture text -----

The notes on pages 22 to 39 form part of these accounts.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

1. Company Information

The Foundation’s principal activity is the maintenance of Prior’s Court School and Prior’s Court young adult provision for students aged 5 to 25 with autism and severe learning disabilities and complex needs. The Foundation (charity number 1070227 and company number 3583324) is incorporated and domiciled in the UK. The address of the registered office is shown on page 39.

2. Accounting Policies

Basis of preparation

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

The Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

Having reviewed the funding facilities available to the Foundation together with the expected on-going demand for places and the Foundation’s future projected cash flows, the Trustees have a reasonable expectation that the Foundation has adequate resources to continue its activities for the foreseeable future. This decision has been taken after a rigorous review of potential impacts including the wider employment market situation and current cost of living crisis and their impact on the Group’s operational activities and finances

It is the Trustees’ belief that the Group can continue to manage the impact of the above operationally on site, provide safe levels of staffing cover and have sufficient reserves to cope with additional expenditure. Costs are being carefully monitored and managed accordingly. Therefore the Trustees continue to adopt the going concern basis in preparing the financial statements.

Consolidation

The consolidated financial statements incorporate the financial statements of the Foundation’s subsidiaries, Prior’s Court Trading Limited (PCTL) which is nontrading, and Prior’s Court Services Limited (PCSL) which is trading, with company numbers 10886137 and 11998772 respectively. No separate statement of financial activities is presented for the Foundation as permitted by section 408 of the Companies Act

  1. The net incoming resources of the Foundation (excluding PCTL & PCSL) were £1,037,853 (2024: outgoing resources £1,029,527).

Incoming resources

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

Grants are accounted for once a formal offer of funding is received, subject to satisfying any performancerelated conditions. In the event that a grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Donations are accounted for on a cash basis.

Investment income

Investment income represents bank interest received on cash deposits.

Income from charitable activities

Provision of education and care represents fee income received for pupils and Young Adults who live in residential accommodation at Prior’s Court Foundation and fee income received for pupils who attend the School on a daily basis.

Deferred income is generated where tuition fees for the forthcoming term are invoiced in advance of the period end.

Restricted funds

Restricted funds, whose use is specified by the donor, are credited to income in the period in which they are received. Where amounts are not specifically allocated against expenditure in that period, the balance is deferred and added to the balance brought forward on the restricted fund to be used in future periods. See Note 22 for an analysis of these funds.

Designated funds

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of the designated funds is set out in Note 21 to the financial statements.

Resources expended – charitable activities

Costs of charitable activities include costs associated with providing services to the pupils and an apportionment of overheads and support costs as shown in Note 10. The costs relating to the pupils include teaching, care, staff training and premises.

Intangible fixed assets

Intangible assets are initially recognised at cost. After recognition, under the cost model intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

All intangible assets are considered to have a finite useful life, and are amortised over 3 years.

Tangible fixed assets

The Foundation has applied the “deemed cost” provisions of FRS102 in that valuations of previously revalued land and buildings will no longer be undertaken.

Depreciation is provided to write off the cost or valuation, less estimated residual values, of all tangible fixed assets, except for freehold land and assets in the course of construction, evenly over their expected useful life. It is calculated at the following rates:

Freehold buildings
– 50 years
Improvements to property
– 10 years
Fixtures, fttings and other equipment – 5-10 years
Computer equipment
– 3 years
Motor vehicles
– 5 years

Within the Foundation individual items costing less than £1,000 are written off as expenses on acquisition. There is no de minimis limit in the trading subsidiaries.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

the Scheme Administrator. The scheme is a multiemployer 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.

Financial instruments

Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at amortised cost. Note 26 provides more information on financial instruments where future cash flows are anticipated, with financial assets referring to cash and debtor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income and taxation and social security.

3. Significant Judgements and Estimates

In the application of the Foundation’s accounting policies, which are described in Note 2, Trustees 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 or in the period of the revision and future periods if the revision affects the current and future periods.

The Trustees consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

4. Status of the Charity

The Foundation is a company limited by guarantee and is a registered charity. Each member’s liability would be limited to an amount not exceeding £1 in the event of the Foundation winding up.

Pension costs

The Foundation operates a group personal pension plan for its non-teaching staff. Contributions are charged to the Statement of Financial Activities in the period in which they become payable.

The Foundation also contributes to the Teachers’ Pension Defined Benefits Scheme at rates set out by the Scheme Actuary and advised to the Board by

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

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----- Start of picture text -----
5. Donations 2025 2024
£ £
Donations comprise:
Restricted Income
Donations – Lemon Tree 2,500 2,500
-
Donations – Bakery 10,147
Donations – Prior Insight 207 122
Donations – Enriching Experiences 27,026 12,699
Donations – Multisensory Building 43,081 114
Donations – Countryside Learning Centre 720 720
-
Donations – Performing Arts Centre 138,986
Donations – Sensory Rooms 31,530 774,252
-
Donations – Big Little Things 1,985
Donations – Play Equipment 30,502 1,714
-
Donations – Spirit of Prior's Court 2,333
278,870 802,268
Unrestricted donations 19,552 6,314
Total 298,422 808,582
----- End of picture text -----
6. Trading activities 2025 2024
£ £
Bakery income from Bread & Beyond 8,710 10,093
8,710 10,093

7a. Trading Income and Expenditure – Prior’s Court Trading Limited

Prior’s Court Trading Limited (PCTL- Company Number: 10886137) is a 100% subsidiary of the Foundation trading as “Bread and Beyond”. Its registered office is the same as the Foundation’s noted on page 40. PCTL was incorporated on 27 July 2017, in order to provide vocational training, and employment opportunities in furtherance of the Foundation’s objects.

On the 31 August 2021, the company donated all of its trade and assets to Prior’s Court Foundation and ceased trading on that date. The trade now continues within the Foundation. There has been no income or expenditure within the entity during 2025 and 2024.

The aggregate amount of share capital and reserves of Prior’s Court Trading Limited at 31 August 2025 was £500.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

7b. Trading Income and Expenditure – Prior’s Court Services Limited

Prior’s Court Services Limited (PCSL-Company Number: 11998772) is a 100% subsidiary of the Foundation. Its registered office is the same as the Foundation’s noted on page 40. PCSL was incorporated on 16 May 2019, in order to provide a more efficient basis for the Group’s service provision. The trading results extracted from its audited accounts for the year ended 31 August 2025 were:-

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----- Start of picture text -----
2025 2024
£ £
Turnover 24,141,194 21,009.596
Administrative expenses (24,141,413) (20,956,584)
(Loss)/profit on activities before taxation (219) 53,012
Taxation - –
(Loss)/profit for the financial year (219) 53,012
Retained earnings at the beginning of the year 95,262 109,644
(Loss)/profit for the year (219) 53,012
Gift aid donation (53,012) (67,394)
Retained earnings at the end of the year 42,031 95,262
----- End of picture text -----

The aggregate amount of share capital and reserves of Prior’s Court Services Limited at 31 August 2025 was £42,531.

Administrative expenses include a management charge paid to the Foundation of £24,069,852 (2024: £20,949,372). This item is eliminated upon consolidation. Taxable profits of £53,012 (2024: £67,394) are gift aided to the Foundation and are also eliminated upon consolidation.

The remaining administrative expenses are included under the Provision of education and care line on the SOFA.

8. Finance Costs

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----- Start of picture text -----
2025 2024
£ £
Interest paid 160,149 185,768
9. Fundraising Costs
2025 2024
£ £
Staff costs 137,932 109,811
Other fundraising costs 12,945 9,262
150,877 119,073
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Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

10. Analysis of Charitable Expenditure

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----- Start of picture text -----
2025 Staff Costs Other Depreciation/ 2025
£ Support Costs Amortisation £
£ £
Provision of education and care 18,808,715 3,536,357 940,560 23,285,632
-
Marketing and communications 158,146 100,176 258,322
Staff training 340,144 384,649 49,503 774,296
19,307,005 4,021,182 990,063 24,318,250
2024 comparative Staff Costs Other Depreciation/ 2024
£ Support Costs Amortisation £
£ £
Provision of education and care 16,568,967 3,279,106 978,294 20,826,367
–
Marketing and communications 119,164 59,998 179,162
-
Staff training 304,891 339,177 644,068
16,993,022 3,678,281 978,294 21,649,597
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Support costs are allocated consistently based on the level of direct staff costs attributable to each charitable activity. Administration salaries have been included within staff costs above. Other support costs include utilities, legal & professional fees and other general administration expenses as well as the following major expenditure items:

2025
£		 2024
£
Governance costs 30,800 20,410
Repairs and maintenance 616,066 365,060
Other catering and provisions 563,027 520,519
11. Staff Costs 2025
£		 2024
£
Staff costs consist of:
Wages and salaries 14,524,772 12,550,244
Social security costs 1,495,267 1,127,944
Pension costs 690,630 579,082
Total payroll costs 16,710,669 14,257,270
Agency and supply cover 2,734,268 2,845,563
Total staff costs* 19,444,937 17,102,833

*Reconciles to staff costs of £137,932 in Note 9 and £19,307,005 in Note 10. Termination payments of £57,482 (2024: £Nil) were made during the year

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

The number of employees whose annual emoluments exceeded £60,000 (post salary sacrifice arrangements) were:

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----- Start of picture text -----
11. Staff Costs (Continued) 2025 2024
Number Number
£60,001 – £70,000 5 1
£70,001 – £80,000 3 5
£80,001 – £90,000 3 1
£90,001 – £100,000 1 -
£130,001 – £140,000 0 1
Number of higher paid employees contributing to a pension scheme 12 8
Total cost of employer’s contributions in relation to the above 76,397 63,203
----- End of picture text -----

The average number of employees during the year, split by category, was as follows:

2025
Number		 2024
Number
Education 66 52
Residential care 288 272
Administration 90 78
444 402

The above numbers do not include agency staff and flexible workers. The Trustees received no remuneration during the current or preceding year.

No Trustee expenses were reimbursed in 2025 or the prior year.

During the year key management personnel received aggregate remuneration (including employer’s pensions and employer national insurance) of £831,847 (2024: £862,847). Key management personnel are defined as members of the Executive Team, as well as the Trustees; all of whom are named on page 38.

12. Net Income

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----- Start of picture text -----
This has been arrived at after charging: 2025 2024
£ £
Depreciation 942,800 907,343
Amortisation 47,263 70,951
Auditor’s remuneration – Audit and accountancy 30,800 29,020
– Non–audit 38,560 25,293
----- End of picture text -----

13. Intangible Assets

13. Intangible Assets
Group and Foundation Software
development
£
Cost
At 1 September 2024 473,266
Additions -
At 31 August 2025 473,266
Amortisation
At 1 September 2024 400,456
Charge for the period 47,262
At 31 August 2025 447,718
Net Book Value at 31 August 2025 25,548
At 31 August 2024 72,810

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

14. Tangible Assets – Group and Foundation

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----- Start of picture text -----
Land & Fixtures, Computer Motor Assets in the Total
Buildings Fittings Equipment Vehicles Course of £
& improve- & Other £ £ Construction
ments to Equipment £
property £
£
Cost
At 1 September 2024 26,128,673 3,793,898 931,213 370,709 1,070,220 32,294,713
Historic difference * 115,308 (985) (1,929) 3 - 112,397
Additions 25,040 276,274 77,141 76,783 460,526 915,764
Transfers 1,453,320 - - - (1,453,320) -
-
Disposals (10,185) (1,749,986) (461,542) (29,450) (2,251,163)
At 31 August 2025 27,712,156 2,319,201 544,883 418,045 77,426 31,071,711
Depreciation
-
At 1 September 2024 6,144,982 3,511,283 870,074 304,432 10,830,771
Historic difference * 115,308 (985) (1,929) 3 - 112,397
-
Charge for the period 728,282 130,249 43,585 40,684 942,800
-
Disposals (2,681) (1,747,241) (461,543) (29,450) (2,240,915)
-
At 31 August 2025 6,985,891 1,893,306 450,187 315,669 9,645,053
Net Book Value
At 31 August 2025 20,726,265 425,895 94,696 102,376 77,426 21,426,658
At 31 August 2024 19,983,691 282,615 61,139 66,277 1,070,220 21,463,942
All fixed assets are used for charitable purposes.
----- End of picture text -----

*During the year a correction has been made to both historic cost and depreciation so as to bring the statutory accounts in line with underlying accounting records.

15. Investments in Subsidiary Undertakings

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----- Start of picture text -----
£
Foundation – Cost
At 1 September 2024 1,000
Additions –
Impairment of Prior’s Court Trading Limited (dormant entity) (500)
At 31 August 2025 500
----- End of picture text -----

Prior’s Court Trading Limited was incorporated in the United Kingdom on 27 July 2017 with £500 of share capital and is a wholly owned subsidiary of the Foundation. See note 7a) for its 31 August 2025 shareholders’ funds. It is now dormant.

Priors Court Services Limited was incorporated in the United Kingdom on 16 May 2019 with £500 of share capital and is a wholly owned subsidiary of the Foundation. See note 7b) for its 31 August 2025 trading results and shareholders’ funds.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

16. Stocks – Group and Foundation

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----- Start of picture text -----
2025 2024
£ £
Stock 13,455 14,448
----- End of picture text -----

17. Debtors

17. Debtors
Foundation Group
2025
£		 2024
£		 2025
£		 2024
£
Trade debtors 678,250 319,794 6,358,219 4,401,457
Amounts owed by
groupundertakings		 3,417,933 3,822,042 - -
Other debtors 19,814 13,899 19,814 13,899
Prepayments and
accrued income		 176,499 100,298 176,499 100,298
4,292,496 4,256,033 6,554,532 4,515,654

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

18a. Creditors: Amounts falling due within one year

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----- Start of picture text -----
Foundation Group
2025 2024 2025 2024
£ £ £ £
Bank loans (see note 19) 273,256 273,255 273,256 273,255
Trade creditors 368,287 793,265 368,287 793,265
Taxation and social security 851,011 627,248 851,011 627,248
Other creditors 125,251 198,944 402,433 357,900
Accruals 438,037 497,962 444,737 503,947
- -
Deferred income (see note 18b) 2,330 1,937,952
Amounts owed to group - 500 - -
Undertakings
2,058,172 2,391,174 4,277,676 2,555,615
----- End of picture text -----

The bank borrowing is secured by a first legal charge over the property of the Foundation.

18b. Deferred Income

18b. Deferred Income
Foundation Group
2025
£		 2024
£		 2025
£		 2024
£
Deferred income at
1 September 2024		 - 10,728 - 12,276
Resources deferred in the year 2,330 - 1,937,952 -
Amounts realised from previous
years		 - (10,728) - (12,276)
Deferred income at
31 August 2025		 2,330 - 1,937,952 -

Deferred income relates to income received in advance for the placement of young people within the Foundation.

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

19. Creditors:Amounts falli ng due after more than one ye ng due after more than one ye ar ar
Foundation Group
2025
£		 2024
£		 2025
£		 2024
£
Bank loans 2,015,627 2,128,735 2,015,627 2,128,735
The bank loans are repayable as follows:
Within one year 273,256 273,255 273,256 273,255
Between one and two years 273,256 273,255 273,256 273,255
Between two and fve years 1,742,371 1,855,480 1,742,371 1,855,480
2,288,883 2,401,990 2,288,883 2,401,990

Loans comprise a single BoE base rate based 4 year, 4 month loan of £2.455 million taken out in January 2024 to replace the previous loan. The loan is charged at a margin of 2.25% plus the Bank of England base rate. The bank borrowing is secured by a first legal charge over the property of the Foundation.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

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20. Allocation of Net Assets
Foundation Investments Fixed Assets Net Current Long term 31 August
£ £ Assets/ liabilities 2025
(Liabilities) £ £
£
Restricted funds - - 136,726 - 136,726
Unrestricted funds:
General 500 - 4,474,906 (273,256) 4,202,150
-
Designated 21,452,206 (546,512) (1,742,371) 19,163,323
500 21,452,206 4,065,120 (2,015,627) 23,502,199
2024 Comparative note
Foundation Investments Fixed Assets Net Current Long term 31 August
£ £ Assets/ liabilities 2024
(Liabilities) £ £
£
Restricted funds - - 308,458 - 308,458
Unrestricted funds
General 1,000 - 3,020,126 - 3,021,126
-
Designated 21,536,752 (273,255) (2,128,735) 19,134,762
1,000 21,536,752 3,055,329 (2,128,735) 22,464,346
Group Investments Fixed Assets Net Current Long term 31 August
£ £ Assets/ liabilities 2025
(Liabilities) £ £
£
Restricted funds - - 136,726 - 136,726
Unrestricted funds
General - - 4,517,438 (273,256) 4,244,182
-
Designated 21,452,206 (546,512) (1,742,371) 19,163,323
-
21,452,206 4,107,652 (2,015,627) 23,544,231
2024 Comparative note
Group Investments Fixed Assets Net Current Long term 31 August
£ £ Assets/ liabilities 2024
(Liabilities) £ £
£
Restricted funds - - 308,458 - 308,458
Unrestricted funds
General - - 3,116,388 - 3,116,388
-
Designated 21,536,752 (273,255) (2,128,735) 19,134,762
-
21,536,752 3,151,591 (2,128,735) 22,559,608
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Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

21. Funds

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Foundation At 1
September Incoming Resources 31 August
2024 Resources Expended Transfers 2025
£ £ £ £ £
Restricted funds (note 22) 308,458 316,070 (487,802) - 136,726
Unrestricted funds:
General 3,021,126 25,279,499 (23,079,852) (1,018,623) 4,202,150
Designated:
Fixed assets 19,134,762 - (990,062) 1,018,623 19,163,323
-
22,464,346 25,595,569 (24,557,716), 23,502,199
2024 Comparative note
Foundation At 1 Incoming Resources Transfers 31 August
September Resources Expended £ 2024
2023 £ £ £
£
Restricted funds (note 22) 301,246 828,668 (66,285) (755,171) 308,458
Unrestricted funds:
General 2,589,483 22,148,085 (20,902,647) (813,795) 3,021,126
Designated:
Fixed assets 17,757,639 - (978,294) 2,355,417 19,134,762
- - -
New capital projects 634,001 (634,001)
- - -
Staff designated fund 152,450 (152,450)
-
Total designated funds 18,544,090 (978,294) 1,568,966 19,134,762
-
21,434,819 22,976,753 (21,947,226) 22,464,346
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Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

21. Funds (Continued)

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Group At 1
September Incoming Resources 31 August
2024 Resources Expended Transfers 2025
£ £ £ £ £
-
Restricted funds (Note 22) 308,458 316,070 (487,802) 136,726
Unrestricted funds:
General 3,116,388 25,297,829 (23,151,412) (1,018,623) 4,244,182
Designated:
Fixed assets 19,134,762 - (990,062) 1,018,623 19,163,323
-
22,559,608 25,613,899 (24,629,276) 23,544,231
2024 Comparative note
Foundation At 1 Incoming Resources Transfers 31 August
September Resources Expended £ 2024
2023 £ £ £
£
Restricted funds (Note 22) 301,246 828,668 (66,285) (755,171) 308,458
Unrestricted funds:
General 2,699,127 22,140,915 (20,909,859) (813,795) 3,116,388
Designated:
Fixed assets 17,757,639 - (978,294) 2,355,417 19,134,762
- - -
New capital projects 634,001 (634,001)
- - -
Staff designated funds 152,450 (152,450)
-
Total designated funds 18,544,090 (978,294) 1,568,966 19,134,762
-
21,544,463 22,969,583 (21,954,438) 22,559,608
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Restricted funds

The restricted funds represent monies received by the Foundation for specific projects that have not yet been completed. An analysis of these funds is shown in note 22.

Designated funds (fixed assets)

Funds have been designated by the Trustees that are allocated to fixed assets used in the Foundation’s operation which are not, therefore, available to fund short term expenditure.

Included within designated funds is a loan to finance the construction of designated fixed assets.

Designated funds (new capital projects)

Funds had been designated by Trustees to reinvest the VAT savings made through the establishment of a VAT group to provide funding for future capital projects. During the year the Trustees decided to release the designation back to general funds.

Designated funds (staff)

A fund to be called Our Future, Our Fund was established to invest in staff working at Prior’s Court to recognise the crucial role they play in the successful delivery of the objectives of the charity. Funds have been designated by Trustees with an aim to retain, motivate and reward existing staff through this innovative fund. During the year the Trustees decided to release the designation back to general funds.

Transfer

The transfers between funds are primarily to reflect the fixed asset designated fund as noted above where capital spend has occurred, or where restricted donations have been given for capital spend and have now had their restriction fulfilled.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

22. Restricted Fund Analysis – Foundation and Group

Brought
forward
£		 Income
£		 Resources
Expended
£		 Transfers
£		 31 August
2025
£
Performing Arts Centre 261,440 138,986 (400,426) - -
Bursaries 45,190 37,200 (30,673) - 51,717
Countryside Learning Centre - 720 (720) - -
Multisensory building 114 43,081 (17,980) - 25,215
Sensory Rooms - 31,530 (3,030) - 28,500
Prior Insight - 207 (207) - -
Lemon Tree - 2,500 (2,500) - -
Enriching Experiences - 27,026 (16,175) - 10,851
Big Little Things - 1,985 (448) - 1,537
Play equipment - 30,502 (13,310) - 18,906
Spirit of Prior's Court - 2,333 (2,333) - -
Total 308,458 316,070 (487,802) - 136,726

2024 Comparative Note – Restricted Fund Analysis

Brought
forward
£		 Income
£		 Resources
Expended
£		 Transfers
£		 31 August
2024
£
Performing Arts Centre Appeal 242,359 774,252 - (755,171) 261,440
Bakery - 10,147 (10,147) - -
Beechcroft Garden 57,237 26,400 (38,447) - 45,190
Bursaries 150 720 (870) - -
Careers Library 1,500 - (1,500) - -
Countryside Learning Centre - 114 - - 114
Lemon Tree - 122 (122) - -
Lower School Bikes - 2,500 (2,500) - -
Pool - 1,714 - 1,714
Prior Insight - 12,699 (12,699) - -
Spirit of Prior’s Court
Young People Events 301,246 828,668 (66,285) (755,171) 308,458
Total

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

23. Pensions – Foundation and Group

Teachers’ Pension Scheme

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £101,167 (2024: £67,267) and at the yearend £Nil (2024: £8,927) 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.

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 28.68%.

Non-Teaching Staff Defined Contributions Scheme

The School also runs a defined contributions scheme for its non-teaching staff. The School’s contributions to the Scheme during the year ended 31 August 2025 were £589,463 (2024: £511,815) and at the year-end £89,568 (2024: £156,651) was accrued in respect of contributions to this scheme. The number of active members at 31 August 2025 was 441 (2024: 493).

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

24. Commitments – Foundation And Group

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31 August 31 August
2025 2024
£ £
Financial Commitments
-
At 31 August 2025 the Foundation had the following contracted 288,223
financial commitments:
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25. Related Party Transactions – Foundation and Group

Close family members of Key Management Personnel were paid a salary of £884 (2024: £2,181). They were employed under a standard contract of employment and under the approval of the Trustees. See Note 7 for transactions with Prior’s Court Trading Limited and Prior’s Court Services Limited.

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

26. Financial Instruments

Financial instruments held at amortised cost are cash, trade debtors, intercompany balances and other debtors. Financial liabilities held at amortised cost are bank loans, trade creditors, other creditors and accruals.

Foundation 2025
£		 2024
£
Financial assets measured at amortised cost 5,933,338 5,331,758
Financial liabilities measured at amortised cost 3,170,974 3,892,661
The Foundation’s income, expense, gains and losses in respect of fnancial instruments are summarised below:
Interest income and expense:
Total interest expense for fnancial liabilities held at amortised cost		 160,149 185,768
Group 2025
£		 2024
£
Financial assets measured at amortised cost 8,287,374 5,592,460
Financial liabilities measured at amortised cost 3,546,856 4,057,102
The Group’s income, expense, gains and losses in respect of fnancial instruments are summarised below:
Interest income and expense:
Total interest expense for fnancial liabilities held at amortised cost		 160,149 185,768

27. Reconciliation of net cash flow to movement in net debt

2025
£		 2024
£
Increase/ (decrease) in cash in the year 640,237 (2,230,360)
New loan - (2,455,000)
Loan repayments 113,107 3,538,694
Change in net debt 753,344 (1,146,666)
Opening net debt at 1 September (1,224,886) (78,220)
CLOSING NET DEBT AT 31 AUGUST (471,542) (1,224,886)

Analysis of change in net debt

Net debt
as at 1
September
2024
£		 Cash
Change
£		 Net funds as at
31 August 2025
£
Cash at bank and in hand 1,177,104 640,237 1,817,341
Loans (2,401,990) 113,107 (2,288,883)
(1,224,886) 753,344 (471,542)

Prior’s Court Foundation Report and Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements (continued)

28. Comparative Consolidated Statement of Financial Activity

Unrestricted
funds 2024
£		 Restricted
funds 2024
£		 Total funds
2024
£
Income from:
Trading Activities 10,093 - 10,093
Donations 6,314 802,268 808,582
Charitable activities:
Provision of education & care 22,124,508 26,400 22,150,908
Total 22,140,915 828,668 22,969,583
Expenditure on:
Raising funds:
Finance costs 185,768 - 185,768
Fundraising costs 119,073 - 119,073
Charitable activities:
Provision of education & care 20,711,165 66,285 20,777,450
Marketing and communications 179,162 - 179,162
Staff training 692,985 - 692,985
Total 21,888,153 66,285 21,954,438
Net income 252,762 762,383 1,015,145
Transfers 755,171 (755,171) -
Net movement in funds 1,007,933 7,212 1,015,145
Total funds brought forward 21,243,217 301,246 21,544,463
Total funds carried forward 22,251,150 308,458 22,559,608

Patron, List of Members and Trustees, Executive Team, Committees, Advisors and Registered Office

FOUNDING PATRON:

Dame Stephanie Shirley CH, DBE (deceased August 9, 2025)

MEMBERS AND TRUSTEES:

Buchan Scott

Interim Chair

Christopher Barrett DL

Chair (and Chair of PCSL) (resigned October 17, 2025)

Melissa Farnham (resigned May 7, 2025)

Dr Stefan Fafinski DL

FINANCE COMMITTEE:

Colin Hayfield (Chair)

Christopher Barrett DL

(resigned October 17, 2025)

Dr Stefan Fafinski DL

Neil Porter

Buchan Scott

Carol Unwin

NOMINATIONS COMMITTEE:

Debbie Fulton

Colin Hayfield

Stacey Marlow

Neil Porter

Carol Unwin

Dr Charlotte Wilson

EXECUTIVE TEAM:

Ryan Campbell CBE Chief Executive

Natalie Boothroyd Director of Care

Niamh Chippendale

Director of Finance (resigned June 30, 2025)

Helen Franks School Principal

Kate Lefever

Director of People

Buchan Scott (Chair)

Carol Unwin

Christopher Barrett DL

(Chair) (resigned October 17, 2025)

Dr Stefan Fafinski DL

Stacey Marlow (appointed June 23, 2025)

YOUNG PEOPLE’S LEARNING COMMITTEE

Dr Charlotte Wilson (Chair)

Buchan Scott

Melissa Farnham (resigned May 7, 2025)

Christopher Barrett DL

(appointed June 18, 2025) (resigned October 17, 2025)

Rob Lodge

Director of Estates and Facilities (appointed September 2, 2024)

Sue Piper

Director of Young People’s Learning (resigned June 6, 2025)

Lynsey Preston

Director of Safeguarding and Health and Safety (resigned August 22, 2025)

YOUNG PEOPLE’S WELLBEING COMMITTEE:

Debbie Fulton (Chair)

Melissa Farnham (resigned May 7, 2025)

Neil Porter

Buchan Scott

OUR PEOPLE COMMITTEE:

Stacey Marlow

(Chair)

Christopher Barrett DL

(appointed June 18, 2025) (resigned October 17, 2025)

Carol Unwin

Dr Stefan Fafinski DL

Buchan Scott

Dr Charlotte Wilson

PRIOR’S COURT TRADING LTD DIRECTORS:

(dormant)

Buchan Scott

PRIOR’S COURT SERVICES LTD DIRECTORS:

Buchan Scott

(Chair)

Christopher Barrett DL

PARENT APPOINTED ADVISORS:

Ferial Norfolk

Joanna Barnes

(appointed July 9, 2025)

REGISTERED OFFICE:

Prior’s Court School

Priors Court Road Hermitage Thatcham Berkshire RG18 9NU

BANK:

HSBC Bank plc

Thames Corporate Banking Centre Level 7, Thames Tower Station Road Reading Berkshire RG1 1AL

(resigned October 17, 2025)

Colin Hayfield

AUDITORS:

Crowe U.K. LLP

STAFF APPOINTED ADVISORS:

Annah Moronya

(resigned September 5, 2025)

R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ

Kirk Smith

(resigned March 31, 2025)

Myles Dezonie (appointed August 8, 2025)

Emmanuel Odoh

(appointed August 8, 2025)

Maria Louro (appointed July 29, 2025)

Prior’s Court Foundation, Hermitage, Thatcham, Berkshire, RG18 9NU

t: +44 (0) 1635 247202 e: mail@priorscourt.org.uk w: www.priorscourt.org.uk