**REGISTERED COMPANY NUMBER: 03583140 (England and Wales) REGISTERED CHARITY NUMBER: 1070235**
**Report of the Trustees and**
**Financial Statements for the Year Ended 31 August 2025**
**for Ghyll Royd School**
Walkers Accountants Limited Statutory Auditor and Chartered Accountants Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
**Ghyll Royd School**
## **Contents of the Financial Statements for the year ended 31 August 2025**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 6|
|**Report of the Independent Auditors**|7 to 10|
|**Statement of Financial Activities**|11|
|**Balance Sheet**|12|
|**Cash Flow Statement**|13|
|**Notes to the Cash Flow Statement**|14|
|**Notes to the Financial Statements**|15 to 23|
|**Detailed Statement of Financial Activities**|24 to 25|
**Ghyll Royd School**
## **Report of the Trustees for the year ended 31 August 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objects and public benefit**
Ghyll Royd school is a registered charity whose charitable objective is the education of children aged 2 to 11. Any surpluses are re - invested in the charity for the purpose of enhancing the facilities and resources available.
The trustees are aware of and have complied with the duty in section 2 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission. One of the school's objectives is to make education at Ghyll Royd available to pupils whose families could not otherwise afford the fees through provision of assistance.
Pupils learn about charitable projects in assemblies, in lessons and through guest speakers. Pupils then organise charitable work to support local, national and international charities. This academic year pupils have been actively involved in raising funds for Macmillan Cancer Research, Royal British Legion, Children in Need, Comic Relief and . Motor Neurone Disease Association. In addition to this, the children collected items for a local homeless shelter and Ilkley Food Bank.
The strength of the school is founded upon its excellent pastoral care, enhanced learning opportunities in small classes with first class teachers and endless excitement beyond the classroom. Friendliness and consideration of others contributes to strong family atmosphere within the school. Children can relish their childhood whilst preparing for the senior school that best suits them. In October 2022, the Independent School Inspectorate visited Ghyll Royd and found that the school passed all areas of the educational quality and compliance inspection.
## **Objectives for the year**
The board of trustees' main objective continued to be to educate all the school's pupils to at least the same high standard as achieved in previous years. The strategy for achieving this is to limit class sizes in order to maintain a high teacher to pupil ratio which allows tailored provision to suit the needs of individual pupil. Ghyll Royd is small enough to ensure there is a caring environment where each child is known and valued, yet is large enough to provide a wide range of facilities enabling the combination of excellent teaching with a great variety of activities. The aim is for the children to feel safe but at the same time challenged, and understand that good behaviour is highly valued, and unpleasantness is not accepted.
## **Principal Activity**
The principal activity of the charitable company is to carry on and develop the school for the education of its pupils and to provide them with the appropriate facilities necessary for this purpose.
At the end of the academic year 2024/25 there were 77 pupils in the School and 40 children attended Pre-School on a part and full time basis. This compares to 79 pupils in the school and 40 children in the pre-school in the prior year.
Page 1
**Ghyll Royd School**
## **Report of the Trustees for the year ended 31 August 2025**
## **STRATEGIC REPORT Achievements and performance**
## **Review of Achievements and performance for the year**
The pupils that left the school in July 2025 achieved a great success rate in their entrance examinations for Independent Senior school and in their SATs.
In order to attain the highest achievements, the school takes the best from the National Curriculum and goes beyond it to offer greater breadth and depth, through a ‘Learning Challenge’ Curriculum. The curriculum is designed to suit the needs of the children as they grow up in an ever increasingly technological world which demands not just the knowledge but also the skills to implement the knowledge.
In 2024/25 the school was shortlisted, for the seventh consecutive year, in the Independent School of the Year awards. Ghyll Royd received recognition in the Small School category for the way the pupil-voice is integrated throughout leadership decisions. Additionally, the school continued to be the top Independent School for SATs in the Wharfe Valley.
Broad horizons are developed unhindered by league tables and national tests. Nevertheless, there are assessments of effort and progress which pupils and parents receive regular reports on.
Being physically active is an important part of the school with the children taking part in a wide range of sports, focusing on rugby, hockey, cricket, netball, swimming and rounders. The Sports Hall and the pitches are in daily use by enthusiastic children and experienced coaches. This academic year the school retained Gold Activemark status for its dedication and passion in providing a varied sports curriculum, and over ten hours of physical activity per week. Following on from a previous year’s win in the National ISA football competition, the school has been placed in National competitions across Cross Country, Triathlon and Swimming.
The Creative Arts of Music, Drama and Art play an important role in the time spent by children in school. They are the spine that informs our education. Opportunities continue to exist for every child to learn and play an instrument, and all children take part in various opportunities to ‘perform’. In Art, children are encouraged to develop their creative talents, expressing themselves in a variety of ways and pupils are regularly recognised in regional and national competitions.
## **Access to the school**
The school ensures wider access to our schooling with fee reductions being offered to many families. In 2024/25, 47 children in the school received support in the form of bursaries and scholarships.
The school is committed to enabling all young people to study at the school where they have met the minimum entry standards, regardless of the financial circumstances of their parents. In addition, support has been found to enable pupils to remain at the school where their parents have encountered serious financial difficulties. This broadens the social mix of pupils in the school and the trustees believe that this is of substantial benefit to both pupils and the community as whole.
The vision for Ghyll Royd includes opportunities to support the community. The school encourages partnerships with local maintained schools and participates in locally organised sports events with the Keighley and Craven School Games Organiser and also events organised between our Head of Sport and individual schools.
The school regularly invites local independent and state schools for sports fixtures and to use the facilities. The school hosted one of the Wharfedale Cross Country competitions with many surrounding schools attending.
The school grounds are regularly used by local businesses and sports clubs including Ilkley Harriers and Burley Trojans FC. Several organisations, including Olicana Gymnastics, use the sports hall each week both in the evenings and at the weekends. The hall is considered a valuable asset by numerous clubs in the community.
During school holidays, the school runs the highly popular Holiday Camp. The camp provides a safe, fun and structured multi-sports offering at a competitive rate. The camp is used by Ghyll Royd pupils and children from the surrounding areas. The hall is also available for birthday parties in the hall under the agreement that Mr O'Connor hosts the activities, strengthening our reputation with families in the area.
Page 2
**Ghyll Royd School**
## **Report of the Trustees for the year ended 31 August 2025**
## **STRATEGIC REPORT Achievements and performance**
## **Community links**
Sports facilities including the sports hall are used extensively by local clubs throughout the year. Local schools take part in sports events and the holiday camp is attended by many local children.
The school employs 33 people, a large proportion of whom are based in the local area. Whenever possible, food and other supplies which are needed for the day to day running of the school are purchased locally. Maintenance work is carried out by local contractors.
## **Financial review**
## **Annual review**
The school pupil numbers have decreased to 77 and the number of children attending preschool remained at 40. This is slightly lower than the previous year and is near capacity in Pre-School and Nursery. It is the aim of the Management Committee and the Headteacher to achieve continued growth which is expected to be challenging due to the introduction of VAT and the impact of affordability for parents. The school are committed to minimise this impact because of the excellent quality of education and pastoral care provided by the school.
## **Reserves policy**
Note 17 of the financial statements show unrestricted funds amounting to £167,307 (2024: £197,885). There are no funds freely available because of the amounts invested in fixed assets. The board has determined that the appropriate level of free reserves which are not invested in tangible fixed should be equivalent to 10 weeks expenditure, approximately £222,000.
Our policy is, therefore, to build up reserves to that level by means of annual operating surpluses. These are anticipated to be achieved over the medium term due to the regulatory changes which impact the school, predominantly VAT and removal of the business rates relief and also headline inflationary pressures on the cost base.
The board has continued to keep the overdraft facility under review to ensure that in the absence of any free reserves, it remains adequate to cover the school's working capital requirements.
## **Financial Review**
The school has operated with a deficit in the year. Income continued to grow, increasing by 11% over the previous year, which was jointly due to increases in school fees and the success of the Pre-School and Nursery. Expenditure also increased by 9%, a significant proportion of this was due to wage increases for teaching staff and extra resources hired for SEND and maintenance of the school buildings and grounds.
The school shall carefully review its cost base coupled with expected inflationary cost pressures and determine an appropriate revenue model to ensure sustainable growth. All income is made available for investment in the school and its teaching resources, curriculum, marketing and pupil facilities.
## **Future plans**
Key objectives:
- Develop Pre-School and Nursery to increase numbers to 60.
- Ensure a Reception Class of 10-12 is achieved each year with a view to increasing the class number available to 14. - Achieve the maximum number of children which stands at 142 that Ghyll Royd is registered for, 82 pupils in school and 60 pupils in nursery.
- Continue to engage with the local community through a calendar of activities.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The organisation is a charitable company limited by guarantee, incorporated on 12 June 1998 and registered as a charity on 26 June 1998. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Page 3
**Ghyll Royd School**
## **Report of the Trustees for the year ended 31 August 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
The directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as Members of the Management Committee.
The trustees of the charity have been put together to cover experience and knowledge in the areas of commerce, marketing, property, finance, law and legislation. All directors give of their time freely and share a passion and commitment needed to ensure the school remains a success.
As set out in the Articles of Association, one third of the trustees must return annually by rotation if necessary.
## **Organisational structure**
The management team consists of the Management Committee; the Headteacher and Bursar/School Business Manager are invited guests at each meeting. Full Governing Board Meetings take place every term and Educational and Finance Sub Committee Meetings take place every term. Day to day organisation is conducted by the Headteacher, with periodic meetings and reports with the Chair of Governors or other governors where appropriate.
## **Induction and training of new trustees**
Most new members of The Management Committee are already familiar with the workings of the school, and its charitable status. An induction meeting is led by the Chair of Governors, with other current members of the Governing body in attendance.
Areas covered at induction include the main obligations of a Governor and trustee in capacities, the operational framework for the Charity, resourcing and current financial position as set out in the published accounts, and future plans and objectives.
## **Key management remuneration**
The trustees consider that senior management team comprises the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee received remuneration in the year. Details of key management personnel benefits are disclosed in note 9.
The pay of the senior management team is reviewed annually and normally increased in accordance with average earnings.
## **Risk management**
The trustees examine the major risks the school face each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they might have on the school in the future.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03583140 (England and Wales)
## **Registered Charity number**
1070235
## **Registered office**
Greystone Manor Burley In Wharfedale Ilkley West Yorkshire LS29 7HW
Page 4
**Ghyll Royd School**
## **Report of the Trustees**
## **for the year ended 31 August 2025**
## **Trustees**
D A Cunningham Ms A L Wood B Thomson (resigned 7.1.25) Mrs J Johnson (resigned 2.12.25) Mrs Z Monroe-Cochrane Ms M Connor (appointed 1.2.25) J K Wharfe (appointed 24.2.25) A N S Lester (appointed 5.1.26) S Dewedi (appointed 13.1.26)
## **Auditors**
Walkers Accountants Limited Statutory Auditor and Chartered Accountants Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ
## **Senior Management Team**
H Nicholson Head Teacher R Picken Deputy Head Teacher
## **Solicitors**
Clarions Elizabeth House 13 - 19 Queen Street Leeds West Yorkshire LS1 2TW
## **Bankers**
Lloyds TSB Bank PLC 45 Hustlergate Bradford West Yorkshire BD1 1NT
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Ghyll Royd School for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 5
**Ghyll Royd School**
## **Report of the Trustees for the year ended 31 August 2025**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Walkers Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
........................................................................ D A Cunningham - Trustee
Page 6
**Report of the Independent Auditors to the Members of Ghyll Royd School**
## **Opinion**
We have audited the financial statements of Ghyll Royd School (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the 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. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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.
In connection with our audit of the financial statements, 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 the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 7
## **Report of the Independent Auditors to the Members of Ghyll Royd School**
## **Matters on which we are required to report by exception**
In the 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 Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, 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.
Page 8
## **Report of the Independent Auditors to the Members of Ghyll Royd School**
## **Our 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 a Report of the Independent Auditors 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- we assessed the extent of compliance with the law and regulations identified above through making enquiries of management; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- tested journal entries and other adjustments for appropriateness to identify any unusual transactions, and evaluation the business rationale of significant transaction outside the normal course of the business.
- reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation; and
- enquiring of management as to actual and potential litigation and claims.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 9
## **Report of the Independent Auditors to the Members of Ghyll Royd School**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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.
Andrew Day (Senior Statutory Auditor) for and on behalf of Walkers Accountants Limited Statutory Auditor and Chartered Accountants Aireside House Aireside Business Centre Royd Ings Avenue Keighley West Yorkshire BD21 4BZ Date: .............................................
Page 10
**Ghyll Royd School**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 August 2025**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
4
School Fees and disbursements
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Teaching costs
Welfare costs
Premises costs
Administrative costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.8.25
Unrestricted
funds
£
2,217
1,139,062
2
79,928
1,221,209
37,781
931,199
66,167
173,143
43,497
1,251,787
(30,578)
197,885
167,307|31.8.24
Total
funds
£
2,627
1,032,557
-
61,283
1,096,467
46,019
849,998
55,747
163,707
34,452
1,149,923
(53,456)
251,341
197,885|
|---|---|---|
The notes form part of these financial statements
Page 11
## **Ghyll Royd School**
## **Balance Sheet**
## **31 August 2025**
|31.8.25
Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
12
446,407
**CURRENT ASSETS**
Debtors
13
182,320
Cash at bank and in hand
132,531
314,851
**CREDITORS**
Amounts falling due within one year
14
(524,201)
**NET CURRENT ASSETS**
(209,350)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
237,057
**CREDITORS**
Amounts falling due after more than one year
15
(69,750)
**NET ASSETS**
167,307
**FUNDS**
18
Unrestricted funds
167,307
**TOTAL FUNDS**
167,307|31.8.24
Total
funds
£
467,837
192,919
200,616
393,535
(583,487)
(189,952)
277,885
(80,000)
197,885
197,885
197,885|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
D A Cunningham - Trustee
The notes form part of these financial statements
Page 12
## **Ghyll Royd School**
|**Cash Flow Statement**
**for the year ended 31 August 2025**
31.8.25
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
(66,478)
Interest paid
-
Interest element of hire purchase or finance
lease rental payments paid
-
Net cash (used in)/provided by operating activities
(66,478)
**Cash flows from investing activities**
Purchase of tangible fixed assets
(1,610)
Sale of tangible fixed assets
1
Interest received
2
Net cash used in investing activities
(1,607)
**Change in cash and cash equivalents in**
**the reporting period**
(68,085)
**Cash and cash equivalents at the**
**beginning of the reporting period**
200,616
**Cash and cash equivalents at the end of**
**the reporting period**
132,531|31.8.24
£
71,452
(6)
(182)
71,264
(3,360)
-
-
(3,360)
67,904
132,712
200,616|
|---|---|
The notes form part of these financial statements
Page 13
**Ghyll Royd School**
## **Notes to the Cash Flow Statement for the year ended 31 August 2025**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
||**ACTIVITIES**|||||
|---|---|---|---|---|---|
|||||31.8.25|31.8.24|
|||||£|£|
||**Net expenditure for the reporting period (as per the Statement**|**of**||||
||**Financial Activities)**|||(30,578)|(53,456)|
||**Adjustments for:**|||||
||Depreciation charges|||20,566|23,281|
||Loss on disposal of fixed assets|||2,472|-|
||Interest received|||(2)|-|
||Interest paid|||-|6|
||Interest element of hire purchase and finance lease rental payments|||-|182|
||Loan repayments|||(10,250)|-|
||Decrease/(increase) in debtors|||10,599|(163,664)|
||(Decrease)/increase in creditors|||(59,285)|265,103|
||**Net cash (used in)/provided by operations**|||(66,478)|71,452|
|**2.**|**ANALYSIS OF CHANGES IN NET FUNDS**|||||
||At||1.9.24|Cash flow|At 31.8.25|
||||£|£|£|
||**Net cash**|||||
||Cash at bank and in hand|200,616||(68,085)|132,531|
|||200,616||(68,085)|132,531|
||**Debt**|||||
||Debts falling due after 1 year|(80,000)||10,250|(69,750)|
|||(80,000)||10,250|(69,750)|
||**Total**|120,616||(57,835)|62,781|
The notes form part of these financial statements
Page 14
**Ghyll Royd School**
## **Notes to the Financial Statements for the year ended 31 August 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Going concern**
The weak UK economy continues to affect the demand for independent school places and the trustees have prepared forecasts on the basis various pupil numbers and working capital assumptions to determine the school's funding requirements. The school continues to operate with a positive net income and has a positive net assets position, though it has net current liabilities of £151,046 (2023: £148,736). The school, like many similar bodies, relies for it working capital funding on the bank overdraft.These facilities have been agreed up to 8th June 2025.
Based on their review, the trustees have determined that the school is able to operate for a period of at least twelve months from the date of approval of the financial statements and accordingly, they believe that it is appropriate to prepare the financial statements on a going concern basis.
## **Income recognition policies**
Items of income are recognised and included in the accounts when all of the following criteria are met:
- The charity has entitlement to the funds
- any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity.
- there is sufficient certainty that receipt of the income is considered probable; and
- the amount can be measured reliably.
Income received in advance is deferred until the criteria for income recognition are met.
## **Expenditure and irrecoverable vat**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Raising funds**
Costs of generating funds comprise the costs associated with attracting voluntary income.
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity
## **Allocation and apportionment of costs**
Resources expended which relate directly to the charitable activities are analysed between;
- Teaching
continued...
Page 15
**Ghyll Royd School**
**Notes to the Financial Statements - continued for the year ended 31 August 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Allocation and apportionment of costs**
- Welfare
- Premises
- Support costs
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance
Improvements to property costing more than £1,500, together with fixtures and fittings costing more than £500 and all motor vehicles are capitalised.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Donated services and facilities**
Donated services or facilities are recognised as income when the charity has control over the item. any condition associated with the donated item have been met, and receipts of economic benefit from the use by the charity is probable and that the economic benefit can be measured reliably.The value of services provided by volunteers has not been provided for in these accounts.
## **Debtors**
Trade debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally at their settlement amount after allowing for any discounts due.
## **Financial instruments**
The trust only has assets and liabilities of a kind that qualify as basic financial instrument. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loan which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
continued...
Page 16
**Ghyll Royd School**
## **Notes to the Financial Statements - continued for the year ended 31 August 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Government Grants**
Grants received in relation to furlough are intended to cover costs and are therefore recognised in the profit and loss in the same period in which the related expense was incurred
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Fees and disbursements
Nursery fees and disbursements
Nursery grants
**5.**
**RAISING FUNDS**
**Marketing expenditure**
Staff costs
Advertising|31.8.25
£
2,217
31.8.25
£
2
31.8.25
School
Fees and
disbursements
£
749,470
232,513
157,079
1,139,062
31.8.25
£
25,311
12,470
37,781|31.8.24
£
2,627
31.8.24
£
-
31.8.24
Total
activities
£
688,334
228,430
115,793
1,032,557
31.8.24
£
36,354
9,665
46,019|
|---|---|---|
continued...
Page 17
**Ghyll Royd School**
## **Notes to the Financial Statements - continued for the year ended 31 August 2025**
|**6.**
**CHARITABLE ACTIVITIES COSTS**
Teaching costs
Welfare costs
Premises costs
Administrative costs
**7.**
**SUPPORT COSTS**
Management
£
Administrative costs
17,252
Support costs, included in the above, are as follows:
**Management**
Telephone
Printing & stationery
Legal and professional fees
**Finance**
Bank charges
Bank interest
Hire purchase
**Governance costs**
Auditors' remuneration
Accountancy and legal fees|Direct
Costs
£
931,199
66,167
173,143
18,358
1,188,867
Finance
£
1,087|Support
costs (see
note 7)
£
-
-
-
25,139
25,139
Governance
costs
£
6,800
31.8.25
Administrative
costs
£
1,476
6,291
9,485
17,252
31.8.25
Administrative
costs
£
1,087
-
-
1,087
31.8.25
Administrative
costs
£
4,500
2,300
6,800|Totals
£
931,199
66,167
173,143
43,497
1,214,006
Totals
£
25,139
31.8.24
Total
activities
£
1,847
6,045
6,594
14,486
31.8.24
Total
activities
£
1,030
6
182
1,218
31.8.24
Total
activities
£
4,500
5,247
9,747|
|---|---|---|---|
|||||
continued...
Page 18
**Ghyll Royd School**
## **Notes to the Financial Statements - continued for the year ended 31 August 2025**
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.8.25|31.8.24|
|---|---|---|
||£|£|
|Auditors' remuneration|4,500|4,500|
|Depreciation - owned assets|20,567|23,281|
|Deficit on disposal of fixed assets|2,472|-|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
## **10. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|31.8.25
£
809,641
63,482
19,477
892,600|31.8.24
£
763,909
55,115
19,816|
|||838,840|
The average monthly number of employees during the year was as follows:
|
Teaching
Non - teaching|31.8.25
17
19
36|31.8.24
16
17
33|
|---|---|---|
No employees received emoluments in excess of £60,000.
The key management personnel of the charity, comprise of the trustees, the Head Teacher Deputy Head Teacher and Finance officer. The total employments benefits including employer pension contribution of the key management personnel of the charity were £126,280 (2024; £117,073).
continued...
Page 19
**Ghyll Royd School**
## **Notes to the Financial Statements - continued for the year ended 31 August 2025**
## **11. INTANGIBLE FIXED ASSETS**
|**COST**
At 1 September 2024 and 31 August 2025
**AMORTISATION**
At 1 September 2024 and 31 August 2025
**NET BOOK VALUE**
At 31 August 2025
At 31 August 2024
**12.**
**TANGIBLE FIXED ASSETS**
Improvements
Fixtures
to
and
property
fittings
£
£
**COST**
At 1 September 2024
765,525
185,287
Additions
-
1,610
Disposals
-
(106,957)
At 31 August 2025
765,525
79,940
**DEPRECIATION**
At 1 September 2024
335,829
150,137
Charge for year
15,311
4,503
Eliminated on disposal
-
(104,484)
At 31 August 2025
351,140
50,156
**NET BOOK VALUE**
At 31 August 2025
414,385
29,784
At 31 August 2024
429,696
35,150
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments|Motor
vehicles
£
36,765
-
-
36,765
33,774
753
-
34,527
2,238
2,991
31.8.25
£
171,774
1,621
8,925
182,320|Goodwill
£
5,000
5,000
-
-
Totals
£
987,577
1,610
(106,957)
882,230
519,740
20,567
(104,484)
435,823
446,407
467,837
31.8.24
£
176,814
659
15,446
192,919|
|---|---|---|
continued...
Page 20
**Ghyll Royd School**
|**Notes to the Financial Statements- continued**
**for the year ended 31 August 2025**
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.8.25
£
Trade creditors
17,529
Social security and other taxes
16,459
VAT
53,724
Other creditors
6,702
Deferred income
391,261
Accrued expenses
38,526
524,201
**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.8.25
£
Other loans (see note 16)
69,750
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
31.8.25
£
Amounts falling between one and two years:
Other loans - 1-2 years
69,750
**17.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.25
£
Within one year
1,236
Between one and five years
4,477
5,713
**18.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.24
in funds
£
£
**Unrestricted funds**
General fund
197,885
(30,578)
**TOTAL FUNDS**
197,885
(30,578)|31.8.24
£
11,853
9,331
-
7,753
537,932
16,618
583,487
31.8.24
£
80,000
31.8.24
£
80,000
31.8.24
£
949
246
1,195
At
31.8.25
£
167,307
167,307|
|---|---|
continued...
Page 21
**Ghyll Royd School**
## **Notes to the Financial Statements - continued for the year ended 31 August 2025**
## **18. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
1,221,209
1,221,209|Resources
expended
£
(1,251,787)
(1,251,787)|Movement
in funds
£
(30,578)
(30,578)|
|---|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are a
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.23
£
251,341
251,341
s follows:
Incoming
resources
£
1,096,467
1,096,467|Net
movement
in funds
£
(53,456)
(53,456)
Resources
expended
£
(1,149,923)
(1,149,923)|At
31.8.24
£
197,885
197,885
Movement
in funds
£
(53,456)
(53,456)|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.23
£
251,341
251,341|Net
movement
in funds
£
(84,034)
(84,034)|At
31.8.25
£
167,307|
|---|---|---|---|
||||167,307|
continued...
Page 22
**Ghyll Royd School**
## **Notes to the Financial Statements - continued for the year ended 31 August 2025**
## **18. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Name of Fund**
**Description, nature and purpose of the fund**|Incoming
resources
£
2,317,676
2,317,676|Resources
expended
£
(2,401,710)
(2,401,710)|Movement
in funds
£
(84,034)
(84,034)|
|---|---|---|---|
General Unrestricted Fund: General Unrestricted Funds are for the charitable objectives of the charity.
Designated Unrestricted Funds:
Designated funds was for the purchase and installation of retractable seating system for the school.
## **19. EMPLOYEE BENEFIT OBLIGATIONS**
The company operates a defined contribution pension scheme. Pension costs relating to this scheme amounted to £19,477 (2024; £19,817) during the year. There was outstanding contribution of £4,556 at the balance sheet date (2024; £5,629).
## **20. CONTINGENT LIABILITIES**
It has been agreed with the landlords of the school premises that the rent liability of £383,999 will not now become due until such time as the school is merged with another school or if the school's activities and undertaking are taken over by another body.
Since neither of these scenarios are deemed probable this liability has not been recognised in the accounts.
## **21. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2025.
Page 23
## **Ghyll Royd School**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Deposit account interest
**Charitable activities**
Fees and disbursements
Nursery fees and disbursements
Nursery grants
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Marketing expenditure**
Wages
Social security
Pensions
Advertising
**Charitable activities**
Wages
Social security
Pensions
Rent, rates, heat and light
Insurance
Sundries
School meals and milk
Books and equipment
School trips and visits
Repairs and maintenance
Motor expenses
Computer costs
Staff training
Temporary staff costs
Bad debts
Improvements to property
Fixtures and fittings
Motor vehicles
Carried forward|**Detailed Statement of Financial Activities**
**for the year ended 31 August 2025**|31.8.25
£
2,217
2
749,470
232,513
157,079
1,139,062
79,928
1,221,209
22,467
2,170
674
12,470
37,781
787,174
61,312
18,803
78,785
20,940
61,423
41,316
12,401
10,168
13,131
4,730
6,194
7,106
39,131
3,215
15,310
4,503
753
1,186,395|31.8.24
£
2,627
-
688,334
228,430
115,793
1,032,557
61,283
1,096,467
32,413
2,969
972
9,665
46,019
731,496
52,146
18,844
62,545
19,198
54,629
41,019
12,741
9,947
9,697
8,176
5,582
7,617
21,535
-
15,310
6,974
997
1,078,453|
|---|---|---|---|
|||||
This page does not form part of the statutory financial statements
Page 24
**Ghyll Royd School**
|**Detailed Statement of Financial Activities**
**for the year ended 31 August 2025**
**Charitable activities**
Brought forward
Profit/Loss on sale of tangible fixed assets
**Support costs**
**Management**
Telephone
Printing & stationery
Legal and professional fees
**Finance**
Bank charges
Bank interest
Hire purchase
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Total resources expended
**Net expenditure**|31.8.25
£
1,186,395
2,472
1,188,867
1,476
6,291
9,485
17,252
1,087
-
-
1,087
4,500
2,300
6,800
1,251,787
(30,578)|31.8.24
£
1,078,453
-
1,078,453
1,847
6,045
6,594
14,486
1,030
6
182
1,218
4,500
5,247
9,747
1,149,923
(53,456)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 25