Company Registration No: 3596520 ST. CATHERINE'S SCHOOL, BRAMLEY (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 ST. CATHERINE'S SCHOOL, BRAMLEY CONTENTS FOR THE YEAR ENDED 31 AUGUST 2025 Ind•x Page Govemors, Officers and Advisors Gov6mors' Report - StructuTr. Aims and Govemance 2-12 - Strateg1¢ Report Statement of Govemors, Responsibilities Independent Auditols Report Statement of Finan¢ial Activitles 11-12 13-15 16 Balance Sheet 17 Statement of Cash Flows 18-19 Notes to th8 Financial Statements 20-35 ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2025 GOVERNORS The Governors of St. C8theTrne's School. who served during the yèar and to the date of the signing of this report, except where otherwise stated, are: Mr Matthew P Lowe MBE (Chalrman) 1 & 5 MrAbert D R Aonzo Dr Susre Cooper (Appointed 10th October 2025) Mrs Penelope J H Crouch Mr Bruce H Dixon Mrs Carollne R Good Mr Stuart Hawkes Dr Jan6t F McGowan (Retred 31 August 2025) Mr Andrew J Pianca Mrs Susan E Shipway r Deni$ B Ulyet Mrs Cl8re S Johnstone {Retired 319t August 2025) Mr John A P Blauth Prof Finbarr E Cotter Bishop Paul Davies Mrs Karen B M Far￿11 Miss Wendy Griffiths (Appolnted 22hd October 20251 Mrs Harriet J K Hounsol Mrs D Lynn Narraway Ms V&ronica M Povey CBE Mr Jonathan C M Tippett 2&4 3&4 2&4 1,3&5 2&3 3&4 1&4 1. Academlc Committee 2. Development Committee 3. Eslale and Bulldings Committee 4. Flnance and Rlsk Committee 5. Pastoral and Wellthlng Commtitee During the year the aCt￿ltIeS of the Goveming Body ware carrigd oul through five prln¢ipal committees. The membership of these committees is shown above for each Govemor. The Saf8guarding Govemor is Dr Sus19 Cooper., the Earfy Years Foundation Stage {EYFS} G¢)vemor is Mr John A P Blauth. Ms Veronica M Povey is Govemor represèntstlvo on the Sch(x)I ICT D&v6lopment suIFCommittee and Mrs Penelopè J H Crouch and Mr John A P Blauth are Govemor representstlve$ on the Bursary and Hardship Awards su&Committee wf(h Mrs Crouch boing Chair. Mrs Susan E Shlpway is Govemor representatrve on the Health & Safety SU￿0MmIttee. OFFICERS Hoad Ms Emma Watson (App)inted 1st September 20251 Mrs Alice Phillips (Retired 31st August 2025) Prep Sthwl Head Miss Naoml J Barthclomew Company Secrotary and Socretary to the Gov&ming Body Mrs Diane E Haeffela ADDRESS St. Calherlne's School ststlon Road Bramley Suffey. GU5 ODF ADVISORS Bankers Lloyds Bank p 147 High Street Guildford Surrey, GUI 3AG Solicitors Farrer & Co LLP 66 Lincoln's Inn Fields London. WC2A 3LH Auditor Crowe U.K. LLP 55 Ludgate Hill London, EC4M 7JW Insuran¢e Brokers Marsh Insuranc8 Broktsys Limiled 4 Milton Road, Haywards Heath West Sussex, RH16 1AH ST, CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Govemors of St. Catherine's School. Bramley present Ih&lr annual Governors, Report for the year ended 31$1 August 2025, including the Directors. Report and Strategi¢ Report, together with the audited f￿ancIal stalements for the year. The Govemors. Report and the finan¢ial statements have been prepared Sn accordance with the Financial Reporting Stsndard appllcable in the UK and Republic of Ireland IFRS102). the Companie$ Act 2006 and the Statement of Recommended Practts applicable to charities prepadng thelr financ181 statements in accordance wth FRS 102. STRUCTURE. AIPIS AND GOVERNANCE After 25 years of dedicated service, Mrs Alice Phillips has retired as Haad of the School. The Govemors wish to record their sIn￿e thanks for her outstsnding leadership and the many achiev8m8nts during her tenur8. Under Aic&'s guidance, the School has seen signihcanl development, Inc4uding the crèation of the Th¢ Six., {now called Queen Camilla Quoin after our palron Her Majesty the Queen), the constructlon of the Anniv8fsary Halls and sports faciliti8s, and the introduction of statevof-the-art classrooms for art lextlles, pholography, and science. Above 81, Ajice's kisling impacl is reflected in the INes of the many glris educat¢d at Sl Catherine's, helping to shap8 a ￿rnMunty that embraces opportunity and is kind, compasslonate, and empowered. The Govemors are delightsd to appoint Ms Emma Watscfi 88 the new H6ad of St Catherine's &hool and look forward wth great excitement to this nexl chaptei in the School's joumey. Efnma brings a distinguished and wide-ranging background, including service as a Lynx helicopter pilot in the military, an MBA in Business Administration, and extensive experience across every aspect of school1rf8. Her career spans roles as Housemistress. Mathematics Teacher, Deputy Head, and Headteacher. Drdwing on this breadth ol experience, Emma wll build on St Catherine's strong traditions and values of kindngss, ensurlng they remain re￿vant and inspiring within a mojorn, fC￿Ward-thinking education for girls. REFERENCE AND ADMINISTRATIVE INFORMATION The School was founded in 1885 and is rggistered with the Charlty Commission under charity numbor 1070858 and a company limited by guaranlBg and incorporated under company number 03596520. The Goverrw)￿, executive officers and advisor5 are listed on pag8 1. OBJECTS, AIMS. OBJECTIVES AND ACTIVITIES Charltable ObJ•¢ts The objects for which the School Is estsblished are to promote and provlde for Ihe advancement of education by providing, condudng. goveming. carrying on and maintaining in the United Klngdom or elsewhere, a ty)arding or day school or 8ohoob for girfs in which the leaching shall be in accordance w￿h the pnn¢iples of the Church of England. Publlc Benefll, Alms and Intended Impact In fulfilling its charitable objects, St Catherine's School seeks to delNer clear public bemfrt by enabling pupils to realis8 their full potential w¢thln a happy. secure and supportive environmenl. The School comblnes high academic standards wilh a strong emphas1$ on the holistic development of each pupil, nurturlng intellectual curiosity alongside personal growth and wellbelrvJ. St Catherine's alms to foster ￿aderShIP, responsibility and reliability, Whi￿ actively promoting respert for others, social awareness and a commknient to the wider communty. Pupils are encA)uraged to contributg both Individual￿ and collectively Ihrough p8￿c1patIon In the School's corporate and outreach activities, thereby developing a sense of service and clvl¢ respon$ibilty. ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST2025 A pupil18avlng St Catherine's 18 expected to bè a confident and ￿daP0nd8nt thinker. $e¢urg in her values and Capab￿ of exercising sound moral judgement with empslhy and integrity. She will be well wepared to engage wllh the Mder world. ready to embrace OPF)Ortunity, mako informed ¢Je¢isions and take considered dsks. Equipped with resilience, adaptability and strength of character, she wll be able to meel ¢halleng88 posltfvety and respond constructIve￿ to adversty. The Govemor9 are mlndfvl of the long-standlng need to provKle public bengfft a￿1 of the requirements of the Charili8s Act 2011 and have had regard to Charity Comm18s1on guidance on public benefit. In order to ensure that our public benefit Is available lo those who could not othBrwise afford to attend at St Catherine's, the Govemorg agreed to provide funds up to the maximum value of 5% of fee ints)mo 10 fund bursaries, including extras for cases of g￿atest need. The Govemors also conslder apPl￿tionS arising frorn f*nanclal h8rdshlp affecling current pupils and, where possible, provKJe assistance to enable pupils lo complete the key Stage of education they are vndertaking at the time the hardship occurs. AJI bursary and hardship aw8rds are subject to a fomal means-testlng process. The School provided £1.416k12024: £1,314k) of assistance in bursades, scholarships and other awards to a total of 119 (2024.. 128) pupil5. Communlty Llnks The Schcol contlnues tr) develop strong and productive links with local state schools, particularly through cIDSe partnershlps with Bramley Infant School and Gosden House. a ngSghbounrvJ specialist school. These relationshSp$ are supported through regular collaboration. shar9d use of St Catherine's facilitles and practical asslstanee where needed including use of the School's swimming pool weekly during temi tlme frte of charge. with swlmming instruction promdod as required. Extemal sludants are welcomed to use the School's music fac11￿￿e$ and given aC￿$S to our specialist teachers. Gosden House Is also supported through the weekty proVis￿n of a minibus at no cost. alongside additional asslstan¢e when naadod. Engagement with the wmjer ￿Mmun￿ remains a priority. The School makes Auditorium. equipment, minibuses and car parking availablg to support lo¢al sch¢)ols, tharftles and communty events. in¢ludlng activities at Hoty Trinity Church, Bramley, and village events. Local char￿10S have atso made use of tha School'8 facllitses for fundraising events. The School actively promot85 professional wllaboration and shared leaming. Teachlng slaff delNered tralning and workshops for colleagues from local schoo￿. and pupils from state Schoo19 wer& invited to attend Car8ers Forums, seminars, musi¢ workshops and performances with the Orchestra of the Age of Enlrghtenment. The School a150 hosted a wde range of educational. ¢ultural and sporting events for local schools, Including competitions. pgrfomiance$ and INSET day acUvltle$ Invo￿1n9 pupils from over a dozen dlfferenl 8choolg. Forthe tenth year, the School proudly hosted the Engllsh Cho$s Federation Natlonal Girfs, Schools Chesi Championshlps, attracting record participation from school$ aGross the UK and wakoming players ranging from beginners lo intemational kvel. Furthgr outreach Induded the provision ol GCSE LatiTr teachirrtj to 8 local state senior SL*ool, Modem Foreign Languages teaching and Maths and Science workshops for local primary schools, mock university interviews for pupils applying to medl¢ine and architecture, and support with examination marking and sch￿1 pr0dL￿tK)n$. Pupil$ play an actwe role In community and charitable 6ngagemen( perfOn￿Ing at bcal events, vlsitlng resklenlial ¢are homes, supportlng worship al Holy Trinity Church and part￿1PatIng in ￿lIage activi￿88. A strong culture of $ervice is encouraged, with staff supporting pupikled tharilable initiatives. The School 8180 benefrts from the Continued support of fomier pupils and famifies through the St Catherine's Association. whlch18 wamly acknowledged. ST. CATHERINE'S SCHOOL. BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Gov•rning Document The Charity is governed by its Memorandum and Artidès of Association datgd 10 July 1998. Gov•mlng Body The School Is governed by its Governing Body. details of which are listed on page 1. It is a self-appointing body, one thlrd of whose members retire each year, but are ellglble for ro-elecllon, subject to mandatory retir9m9nl at thg AGM followng their 741h birthday. Govemors who reach the age of 74 may, in exceptional rcumstances, Iwh8re continuity of goveman¢e is at risk.) have their term of office extended to the last day of the first summer term followtng Ihelr 75th blrthday. The Govemors are selected based on ellglbllmy, personal compgtence, speclallsl skills and affinity b the School. New Govemors are inducted into the working of the Schc*Jl, including Board worklngs and procedures. Ihrough mentoring by exisling Governors and an induction programme organlsed by the Heads and the Combined Senior Managemenl Team membws, whid) includgs thorough Safeguardlng checks and training. Regular contact wlth the day-t04Jay running of the School 18 mairrtained through the Chalrman of Gov8mors' monthly meetings with the Heads and the Chief Operating Officer, the routine committee mggtings of the Board and the main Board meetirwJs. In addition, there are haw-yearly Govemors, Day8 where Governors are invlled to visll lessons, activities and attend training sessions on the lTrJependent Schools Standards ReguL911on8 {ISSRsl and the Independent Schools Inspectorate's current Inspection framework. The Governors also regularfy attend events su¢h as corrRrts, drarrta productions a￿1 Special celebratory days Otc. The Governors are aware of the Charlty GovernanGe Code updated in 2025 which sets out the principl8s and rgcomm8nded practice for g¢4)d govemance within the sector. The Governors are satisfied that Ihe Charity applies the pdnclples of the Code withln Its current gov8marKe arrangements. Th9 Governors, most recent five-y&ar $trategi¢ plan was agreed by the Board in February 2023 and provides a strong fovndalion for th8 School's ongoing development, as reftecled in the Govemors, StrategiG Aims, Priorities, and Prop08ed Actions for 2022-2027. Alongside the positive progress already athiev8d- induding the completion of the new STEM and classroom facilities as part of CATalysl Phase 1- the Govemors recognisg the opportunlty under a new Head to review and refine future priorities. This 11 ensure that the School's straleglc dlrectlon remains res￿nsIve. ambitious, and aligned with the vision of the new Head, as St Cathgfine's looks ahead to Its next phase of growth and innovation. Organlsatlonal Management The St. Catherine's School Govemors. as Trustees of the Charity and Direclors of the Company, are legally responsible for the overall management and control of St. Catherine's SGhTr)l and meet at least three times a year. The work of implementing their polScles18 carrfed c4Jl by the varloug Commlttees noted on page 1. who usually meet lo four times a year in tho weeks le8dlng up to the meeungs'of the full Gov8mlng t￿y. The principal Governors, Commlttees are as follows". - Chaired b Professor Finba￿ E Cotter Mr Albert D R Alonzo Mr Denls B Uwet MT Andrew J Planca Mr8 Harriet J K Hounsell Aoademic Development Estate and Bulldings Finance and Risk Pastoral and Well-being The day-tTrday running of the School 1$ delegated to Ihe Head who is supported by the Heads of the Preparatory School (Prep Sch¢yJl) and the Chief Operaung Officer who logelher make up Ihe key management personnel. Th8 two Heads. the Chl8f Operatlng Officer and relevant members of the Combined Senior Management Team attend the Govemor8' Board meellngs. ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST2025 Remuneratk)n is rewewad by the Governlng Body with the objectlva of providing appropriate In¢ontive$ to enc￿ra9? perfornance and rewardlng all staff contribut￿n8 to thè &hool's success. Nearfy all stsff are appointed to a cfear salary scale, which Is updated and pubhshed annualty after the Govemlng Body agree any annual upllft. The Charlty has a wholty owned subsidiary. St. Cath9rine'5 Enterprises Limtted, and this is used for the trading of the Schwl Shop and lettings. The Schc#Jl Shop sg115 th8 School unlfom) and related equipment. Any surpluses are glft alded for Ihe b8nefit of the S¢hool. 8TRATEGIC REPORT Oblecllve¥ for the Year Thls yearthe School has continued to maintain its a¢adomic perfornance and a hlgh $tsndard ofpastoral car8 which are annual obiecliv8s of the Goveming Body. The widening of availabilty of a St Catherine's educatlon, a regular objective, has been rnaintsined through burs8ry provisK)n arKI Ihe School a￿ayS looks for new ways to encourage Ioc81 Sch￿ thildren to US8 the facilttes for educakn.onal purposes, as outlined above. The Senk* Preparatory Schools vRre Inspected in Ociober 2023 under the new ISI Inspecuon Framework 23 aThJ the final rep)rt was made availabl8 in March 2024. The inspedors found that all relevant standardswere met, and Inspectors wmrnenled on the Sch￿1.5 oxtra18 o)nlinuum and beyond by: onhancing vertical integration between Prep. Senlor. and Slxlh Fomi through shared events ané mentorin9 programmes. promoting access to the $¢hool Ihough a revised bursary strategy; expanding parent engagement initiatwe$ arKI ensuring transparenc Iw04vay communication: developlng alumnae ne￿orkS and partnerships to provkle life1c￿9 support and opportunities for currenl students; implementing a robust EDI (Equallty, Dlverslty. an¢J Inclusion) stralegy to celebrate ditIe￿ncE and ensure equty, and 10 ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 FUTURE PLANS 2025Q026 - ¢ontinuod fostering glob81 connecllons through outreach, intemational ￿lIabOratIons, and global projects. Ensurfng Sustalnable Growth and Stewardship Securing the school's long-temi vlabillty through responsible financial. environmental, and operational management by: delwerlng a rolling eststes mastèTplan aligned with stralegk prlorftle$, Including sport and Covcurrfcular fa¢ilities- ¢m￿dding gnvlronmentsl stewardship into operations and curriculum. aSmlng for measurabie rgductlons In carbon I￿1print.. maintaining strong gov8man¢o str￿tureS and risk man8gemonl protoGoLs to ensure resili8nce', dlversTrfylng Income streams through commerclal Inltiatfves and phllanthropic partnershlp$; and regularly reviewlng flnancial performance and resource allocation to support innovation while preservlng th8 core foundations of thg school's excellent academlc and pastoral provision. STATEMENT OF GOVERNORS, RESPONSIBILITIES The Governors (who are also directors of SL Catherine's School. Bramley for the purposes of company lawl are responsible for preparing the Govemors, Report and the financial statements in accordance wth applicable18w and Financial Reporting Standard 102. The Finan¢ial Reporting Standard appllcable In the UK and Republic of Ireland (United Kingdom Generally Acwted A¢¢ounling PraGtiGe}. Company law requlres She Govemors lo prepare finarKral statements for each financlal year. Under company law, the Governors musl not approve the financial statements unless they are satisfied ihat they giv8 a trug and falr vlew of the state of affairs of the charitable company and of tha Incoming resources and application of Tesources, including the income and expenditure, of the charftsble ¢ompany for that period. In preparing these finarrial statsments. the Governcffs are required 10.. • selecl Suitable accoiinting policies and then apply them conslstsnuy. observe th8 m￿had#.8nd prinaples in the Chaiity'$ SORP; make judgments and e$limates that are reasonable and pnjdant. state whethar applicable UK a¢countlng standards have been followed. subject to any material departures disclosed and explalned In the financial statements. and prepare the financial statements on the going concern basis unless Is in8pproprfate to presum8 thal the charitable company will continue in business. 11 ST. CATHERINE'S SCHOOL, BRAMLEY GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Govemors are responsible for keeping adequate accouDling records that are suffi¢lent lo show and explain the charitabl8 companys transactions, disc4ose with reasonable aGcuraGy al any lime the flnancl81 position of the charitable company and enable them lo ensure that the financial slalements comFAy wrth the Companies Act 2006 and the provisions of the Chari￿s Cor￿tilution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the preventlon and detection of fraud and other wregularities. The Governors a￿ responsible for Ihe maintenance and integrity of the corporate and financial Inforniatlon included on the charitable company s website. Legi81ation in the United Kingdom governing the preparation and dlssemln8tlon of flnancl81 statements may differ from legtslatSon In otherjurisdlctbns. The following statements have been affim)ed by each ofthe Govemors of the chadlable company.. so far as each Govemor is aware, there is no relevant audit infomation Ithat is, information needed by the company's auditors in connedion with preparing their report) of which the COMpan￿S audilors are unaware, and each Govemor has tsken all the steps that helshe oughtto havg tsken a¥ a Governor in order to make himselflherself aware of any relevant audil information and to gstablish that the company's auditors are aware of that infornalion. Thi5 Annual Report. induding the Strategi¢ Report p￿pared und&r the Charities Act 2011 and the Companies Act 2006, wa$ approved by the Board of Govemors of St. Catherine's School, Bramley on 16th May 2026, in¢tuding in their ¢apacity as ¢ompany directors approving the Strategic Report contained thweln, and Is slgned as authorised on its behalf by: M P Lowe- Chairman 12 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. CATHERINE'S SCHOOL, BRAMLEY FOR THE YEAR ENDED 31 AUGUST 2025 Oplnlon We have audited the financial 5tatgments of Sl Catherine's School. Bramley {'the charitable company,) for the year endgd 31 It August 2025 which comprise the Staternent ol Financial Activities, Balance SheeL Slalemonl of Cash Flows and not8$ lo the finan¢ial statements, Includlng slgnfficant accounllng policies. The financial reporting framework that has been applied in their prepara￿0￿ is applicable law and United Kingdom Accounting Standards. including Flnan¢ial Reporting Standard 102 The Finan￿al Reporting Standard applicable in the UK and Republlc of Ireland {United lfjngdom Generalty Accepted Accounting Practice). In our opinion tha financial statements.. give a true and lalr vlew of the state of the chartlabb company's affairs as at 3131 August 2025 and of its income and expenditure. for the year then ended,. have been propedy prepared in accordanGe wllh Unlted Klngdom Generalty Accepted Accounting Practice, and have been prepared In accordance with the reqUI￿rnents of the Companles Act 2006. 8asls for oplnlon We conduct&J our audil in accordance ￿th Internation81 Standards on Audtting (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards 8r8 further described in the Audltor's responslbllltles for the audit of the financlal statements section of our report. We are independent of the charitable comp8ny Sn a¢cordance with the ethical requirements that are relevant to our audit of th8 financial slalements In the UK, including the FRC'S Ethical Standard, and we hav8 fulfilled our other ethlcal responsibilities In accordance with these requlrements. We believe that the audit evidence we have oblained 18 8uffic48nt and appropriate to provide a bas18 for our opinion. Concluslons rolallng to golng ¢one•rn In audit6ng the financial statements, we have concluded that the trustees use of the going concem basls of accounting in the preparallon of the ftnanual stalem8nts 1$ appropriate. Based on the work we hav9 perfomied, we have not identmed any material UncertaInt￿ relating to events or conditions thal, Individually or collectively, may cast signlflcant doubt on the charitabl& company's ability to continue as a going concern for a period of al18ast months from when th8 financlal statementg are authorised for issue. Our responsibilili8s and the responsibilities of the truslees with re8PeCt to going concem are de5Grlbed in the relev8nt seclKJns of thks report. Other Inforniatlon The trustees are responsible for the othèr inforynalion contained wrthln the trustee$, annual report (Govemors. Report). The other infomation comprises the infom)ation included In the trustees, report, other than the financial ststements and our auditols rgport thereon. Our opinion on the financial statements does not cover the other Infomialion and, except to thg extent othernvlsè expliGitly stated in our report, we do not exp￿$$ any form of assurance conclusion Ihergon. Our responslbllty 1$ to read the other information and, in doing so, ¢onslder whether the other infomiatlon is materially inconsistent with the financial ststemgnls or our knowlgdgo obtalned in the audit or otherwlse appears to be materfally mi5Staled. If we identify such material in¢onsislencl&s or apparent material misststements. we are required lo determine whether thls gives rFSg to a material misslalemenl In the financial statements themsefves. If, based on the work we have ￿rfOrmed, we conclude that there is material misstatement of this other information. wo are required lo report that fact. We have nolhlng to roport in this r6gard. 13 INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF ST. CATHERINE'S SCHOOL, BRAMLEY FOR THE YEAR ENDED 31 AUGUST 2025 Oplnlons on other matters prescrlbed by th• Companlès Aet 2006 In our opIn￿n based on lh8 work undertaken in the courye of our audit: th8 Information glven In Ihe tswstees, report (Govemors, Report), whl¢h Includes the dlrectors. report and the strategic report prepared for the purposes of company law, for the ftnanclal year for whi¢h the financial statements are prepared Is conslstent wkh the flnanclal statsments, and the strategic report and the directors, report induded within the trustees. report (Govemors, Report) have tr*en prepared in accordance with applicable legal requirements. Matter8 on whlch we are requlred to report by exceptlon In light of the knowledge and understandlng of the charltable company and their environment obtained in the course of the audit, we have not identifled material mlsstatemenls in the strategic report or the dlrectors, report Induded wlthln the trustees, report. We have nothing to report in respect oftho folk)%wng matter5 in relation to which the Companies Act 2CQ6 quires u5 to report to you if, in our opinion- adequate and proper accountlng records have not been kepl" or the finanaal statements are not In agmmenl with the aC￿UntIng records and retums., or certaln dlsclosures of trustees. remunerdtlon 8peclfiett.by law are not made: or we have not received all the infomiation and explanations we require for our audit. R•sponslbllttl•s of trust￿$ A$ explained mr8 fully in the trustees, {Govemors'l r95ponsibilities statgmgnt set out on paggs 11 and 12. the trustees IGovemors} (who ar¢ also the direGtors of thg Gharitable Gompany for the purposes of company law) are responsible for Ihe p￿ParatIon of the financial slatements and for being salisfied that they give a true and fair view, and for suth inteinal control as the trustees detemine is necessary to enable the preparation of financial Statements that are free from matgrial misslatemenL whether due to fraud or error. In preparing the financial statements, the trustees are responslble for assesslng the chaTttabl8 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using tho going Goncgrn basis of accounting unless the trustees either intend to liquidate the charitablg o)mpany or to cease operation5. or have no realistic allemalive but to do so. Audltor's re6ponslbllitles for the audit of th• financial statsments Our obiectwes are to obtain reasonable assurance about whether tho financlal stslements as a ￿018 are free from matgrial misstatem8nt, whether due lo fraud or èrror. and to issue an auditols report that indu(Je$ our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit ¢ondu¢ted in a¢¢ordan¢e wth ISA5 (UK) will always detect a material misstatement when it exists. Mlsstatements can ari$e from frau¢J or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to Influen￿ the e¢onomic decisions of users tsken on thp bask8 of these flnanclal statements. Detaib of the exlent to thich the audit was considered Capab￿ of detecting irregulariti8s, including fraud and no￿￿omPliance with laws and regulations are set out below. A fiJrther description of our responsibiliti95 for the audit of the finanaal statsrnents is IC￿ated on the Financial Reporting Council's websits at.. www.frc.or -uklauditorsres nsibilities. This description fomis part of our auditols report. 14 INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF ST. CATHERINE'S SCHOOL BRAMLEY FOR THE YEAR ENDED 31 AUGUST 2025 Extent to whlch th• audlt was ¢on$ldèr•d capable of delectlng Irregul•rlllos, kncludlng frnud Irregularities, ￿ClUdIng fraud, aré Ingtsnces of non-complkgnce wfth law$ 2nd regulations. We identified and assessed tho risks of msterkql misstatement of the finanual $tstements from irregulaiities. whether due to fraud or error, arKI di¥cussed these be￿en our audit team members. We then designed and performgd audit prowlures responsive to those risks, indudlng obtslnkng audlt ￿denC* sufficlent and appropriate to provide a basis for our opinion. We obtained an understanding ofthe legal and regulatoryfromeworks wthin which tho charitable company operates. focusing on those laws and Tegulations that have a dlrect effect on the detemination of material amounts and di$¢lo$ures in the financial staterngnt$. The laws and regulations we consvjered In thls context were the Companies Act 2006, taxation legislation, together wlth the CharIt￿& SORP {FRS 102). We assessed the required compliancg with these laws and regulations as part of our audlt prwedure¥ on the related finan￿al statement ttgms. In addltlon. we considered proviston$ of other laws and regulations that do not havè a dlrect effect on the ffinanclal statements but complian¢e with which might be fundamental to Ihe charitable company's ablllty to operate or to avoid a material penaty. We also considar8d the opportunitles and incentives that may exist wthin the charitable ¢>)mpany for fraud. Th8 laws and regulations we considered in this corrtext for the UK operations We￿ The Education {Independent School Stsndards) Regulations 2014, General Data Protection Regulation IGDPR) and Employment Legislalion. Auditing standards Ilm￿ the required audit procedures to Ident￿ nonryccrfnpllance wth th88e laws and regulations to enqulry of the trustees and other management and InSpeCt￿n of regulatory and legal corresF*)nden¢e. If any. We identified the greatest risk of matedal Impa¢l on the financial statements from Irregularltie$. induding fraud, to be wlthln tho override of controb by management. Our audit procedures to re$porKI to these risks Included enquiries of managemont and the Finance and Risk Committee oboul Ihelrown kdentMcatlon and assassment of the risks of iit6gularlt6es. sample testing on the postlng of joumals. revlewlng ac¢ounllng e9￿mateS for biases. roviowng regulatory correspondence vmh the Chority Commlsslon, IndePend￿t Schools Inspectorate, Ofsted and readlng minutes of meetings of those tharged wlth govemance. I￿vIng to tho inherent Ilmitations of an audit, there Is an unavoldabEe dsk that we may not have detected Some material misstatemernts in Ihe fmancial statements, even though we have property planned and perfonned our audit in accordance with auditing standards. For example. the further re￿￿)Ved non- compliance with lows and regulations (irregularlties) Is from the everts and transactions reflected in the financial statements. the less likely ￿ inherently limlted prwedures required by auditing standards would idgntify it. In additlon. as with any audtt. there remained a htgher risk of non-detection of irregulartbe$. as these may Involve collusion. forgery. Inten￿onal omissions, mlsrepresentatlons, or the overTide of inlgrnal controls. We are not responslble for preventlng non40mpllance and carnot be 6xp&¢ted to dele¢t rwi- compliance with all laws and regUla￿OnS. U8• of our report Thi8 report is made solety to the charftable company's members. 8$ 8 body, In acc#)rdance wlth Chaptgr 3 of Part 16 ot'the Companles Act 2006. Our audit work has been undertaken so that we mlghl state to the charitable ¢ompanls members those matters we are roqulred lo state to them In an auditor's r9P)rt and for rK> Other purpose. To the fullest extent permitted by law. we do not accept or assume responsibilty to anyone other than the charitable company and the ¢haritable company's members as a bc*Jy, for our 8udii work, for th18 report. or for the opinlons we have fonned. Danlel Haines, Senior Statutory AudStor For and on behalf of Crowe U.K. LLP Statutory Auditor London Date.. 27 May 2026 15 ST. CATHERINE'S SCHOOL, BRAMLEY STATEMENT OF FINANCIAL ACTivrriES (INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted RestriGl8d Endowmont Funds Funds Funds £'ooo £000 Total 2025 £'ooo Total 2024 Notes INCOME AND ENDOWMENTS FROM Charitable actlvltles School fees Other educational income 18,906 1.233 18,906 1233 19,093 1,153 Interest recelvable DonalloTr8 & 1ggacle8 158 18 167 144 143 94 126 Other tradlng In¢omo Giftaid from subsldlary Other income I rentals 55 55 117 101 Total Income 20.454 135 20.589 20,701 EXPENDITURE ON RAISING FUNDS Finance costs under Advance faes contracts Bank interest and charges Development costs 96 125 33 52 136 55 125 33 254 254 243 Charflabl• a¢llvlllo5 Educatlon 20,107 100 20,283 19.655 Total 8xp•ndltur• 20,361 76 100 20,537 19.898 Net InFome l (•xpondltur•) 93 59 {1001 ..803 Transfers botween funds 16 59 (59) Net mov•rnent In fund8 152 11001 52 Reserves broughl forward 27,589 475 6.941 35.005 34.202 Reserves carrl•d forward 15&16 27,741 475 6.841 35.057 3&005 All of the S¢hool's operations represent continulng actfvitles. There were no recognised gains or losses other than those shown above. A copy of Ihe Statement of Financial Activiti88 for the year erKled 31 August 2024 Is provided tn note 22. Tho notes on pages 20 to 35 fomi part of these finan(ial statements. 16 ST. CATHERINE'S SCHOOL, BRAMLEY BALANCE SHEET AS AT 31 AUGUST 2025 Notes 2025 £'ooo 2024 £voo FIXED ASSErs Tangible assets Investment in subsidlary company 42,844 42296 844 42.296 CURREKf ASSETS Debtors Cash at bank and In hand 11 1A23 4.171 1,231 8,020 9,251 CREDrroRS: Amounts falling due wilhin one year 12 7,739 9.084 NEf CURRENT (LIABILITIES) I ASSETS 2,145 167 TOTAL ASSETS LESS CURRENT LIABILrriES 42.463 CREDrroRS: Amounts falllng due after more than one year 13 NEf ASSETS 15 ￿057 35,005 FUNDS OF THE CHARITY: UNRE3TrICTED FUNDS: General 16 27.741 27,589 RESTRICTED FUNDS: S¢holarshlp8, prfza funds and donatlons 16 475 475 ENDOIYMEKf FUNDS Pernanent Expendable 16 6,653 188 6, 753 188 The notes on pagos 20 10 35 fom part of tho$0 financial ststements. Approved on behaff of the Governing Body and aulhorised for issue on 18th May 2026 MPLowe Chaimian of t e Goveming Body AJ Planca Chalrman of the Fln8nce and Rlgk Commlttee 17 ST. CATHERINE'S SCHOOL, BRAMLEY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 £'ooo £'ooo £'ooo CaBh flo￿ from oporatlng acalvhl (Note a) 2,953 Cash flm from Inv••llng •¢livftl Invoslmonts and servlclng of Ilnance Bank Interest receipts Finance costs and bank charges Payments lo affjuire tangible fixed assets Proceeds from sale of tangible fixed 167 (221) I2.SL￿) 143 (188) (1,207J N•t cash outllow b•for• flnanclng activiti•s {1.607 1,701 Cash flows from flnanclng actlvltles Fees in Advance scheme: Receipts from new contracts Amounts a¢crued to contra¢ts Amounts U￿lISed to pay fees Bank loan, repayable by 2035 1.834 96 13.802) 370 52 (2,347) 359 (Decr￿8) l Oncrea8e) In ca8h (note b) 4103 Reconclllatlon of net cagh flow to movem*tt In net debt (Decfease) l increase In cash in the ye Net decrease l {increase) in fees in advance Deuease In loan fin8rKe {3,8491 &103 1,873 369 (3.781) Movement In nel debt N•t d•bt at I September 202412023) (1,607) 3,407 1,701 Net d•bt at 31 August 2025 (2024) The r￿te$ on page$ 20 to 35 fomi part of thgse financial Slatements. 18 ST. CATHERINE'S SCHOOL, BRAMLEY STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE CASH FLOW STATEMENT Reconclllatlon of n•t income lo not cash infl¢)w from operating activiti 2025 £'ooo 2024 £'ooo Net incorng ts th8 year 52 Bank and other interest received Finance costs and bank charges Depreciation Profil on disposal of fixed assets Impaiment offixed assets Decrease l (Increase) in debtors (Decrease) I Increase in creditors (167) 221 1,205 (61 90 471 919 (143) 188 1, 132 (337) 1.310 Net cash Inflow frorn oporating activili 2.953 b) Analys18 of chang•8 In not debt Asat I Sgptember 2024 31 August 2025 £'ooo Movement Cash al bank and in hand Fe8s in advance schgm8 Bank loans 8,020 (6.866) 4.561 (3,849) 1,872 370 4.171 {4.9941 4.191 1,607 5,014 19 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 ACCOUNTING POLICIES Basls ol accountlng The flnancia stalemenls have been prepared in accordan￿ wth the Financial Rep(￿tIng Standard applicable in the UK and Republic of Irelarkl (FRS102). the Companies Act 2006 arKI the Statement of R8￿MMended Practice applicable to ch8rflle8. the Charities SORP (FRS 102). The functional Gurrency of the School is GBP because that is the ujrrerw of the prlmary economlc environment In which the School operate5. The actiwties of the charty's wholly owned subsldlary company, St. Catherine's Enterprises Limited, are immaterial to those of th8 charlty and ¢onsolidaled financial statements have. therefore, not been prepared. The Sthool is a Publ￿ Benefft Enltty registered as a charty in England and Wales and a company limited by guarantee. It was in¢typoraled on 10 July 1998 Icompany number: 035965201. Going ConGgTn The preparation of financial statements requires an ass95smorrt of the approprIaten￿$ ol adopting a going concern assumption since this assurTtes the avallablllty of adequate financial resources lo allow the Schcol lo continue for the foreseeable future. At the time of approving these financial statements. the g8neral 8conomiG picture and Infflationary wessures continuè to evolve along with the impact on the School, in common th many other businesses. The Govgrnors continually review th8 position carefully and lKlen￿Y lo ensu￿ the long-lemi continuing operation of the Scht)ol, the ongoing pTovi5i0n of schoollng for the pupils and the employment of our staff. The Govemors con$tder budgets and forecasts which contain cash projectiong and sensitivity analysls covering a range of scenarios includiry realistic worst-case conditions. Key assumpt￿n8 around pupil numb8rs, cost inflation and timing of casmows have been stress-tesled and Governors have concluded that sufficient working capital remains available throughout the forecast period to meet existing and planned mmmilmerrts. and ensure continued compliance wllh exlsting lending and covenant requirements. On this basi5, the Governors have a reasonable expectation that the School has adequate rescMJrce$, Induding current cash reserves and banking facilities, to continue in operational existence for the f0reseeat￿e fijlure. The Sch¢)ol. the￿fOre, continues to adopt the going I concern basls In weparing its financial statements. Crlllcal accountlng Judgem•nts and key sources of estlmatlon uncertainty In the applution of the a¢¢ounting policies, Governors are requlred to make judgements, estimates, and assumptions about carying value of assets and Ilabilltles that are not. readily apparent from other sourc&s. The estimates and underfying 8ssumptlons are based . on historical experience and other factors that are consKlered to be relevant. Aclual results may dlffer from these estimates. The estlmates and undedying assumptions are rev￿Wed on an ongoing basis. Revlgk*ns to aGcounting estlmates are reGognised in the period In whl¢h the estimate is revised if the revision affects onty that period, or in the period of tho revlslon and future pericrfjs rf the revision affected current and future periods. ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 In the vi•vof the Govemors, no assumptions conceming the fulure or estimatlon uncertainty aflecling assets or Ilabllllles 8t the balance sheet date are likety to result In a material odjustment to thelr carylng amounts In the next financial year. b} Flxed assets Tangible fixed assets are capltallsed when brought into use and are depreciated by equal annual instalments over their estimated useful Ilves. The current estimated useful lives are.. Freehokl buildings Freehold improvements Plant and equipment Computers Vehicles All weather pltches 50 years 20 years 5 years 3 years 4 years 7 ygars Land value, eslimaled at £6m, is not d8pr8ciated. The Govemors revlewed thè estimated useful lrfe of the School's freehold buikjings and based on this revi8w. depreciation is bèing provided to write off their book value over 50 years from 2002 or the date of subsèquènt purGhase or con$lruction. Fa05 and sirnilar eamed incomg Fees receivabie and charges foi servi￿$ and use of the premises are recognised net of VAT, less any allowances. s¢hokr$hips and bursaries grantsd by the School against those fges, but including conlributions received from restricted funds. are accounted for in the period in which th8 service 1$ provided. Amounts received under the School's fees in advan¢e ¥cheme contracts are recorded as deferred income and credited to income when the fees are due. Thèy arè allocated as current liabilitios where the 9ducation will be provided within 12 months from thè reporbng date and as long4erm liabilities where the education will be provlded thereafter. d) Donations, legacles, grants and oth•r voluntary incoming rosourcos Voluntary incoming resources are accounted for as and wh8n 6nlitl•m•nt arises, th8 amount can be rellabty quanlffied and the economic benefi't lo the School is consider¢d probable. Voluntary income for the School's general purposes is accounted for as unrestrictsd. Whgrg the donor or an appeal has imposed trust law restrictions. voluntary income 15 cr8diied to the Trlevant restricted ￿nd and incoming endowments are accounted for as permanent trust capltal or expendable trust ¢apltsl, according to whether the donor intends retention ig to be permanent or not. Glfts In klnd are valued at estimated open market value at th¢ dale of gift, in the case of assets for retentlon or Consumption, or at the value to th8 School for donated seNices or facilitles. Expendliure Expenditure Is accrned as soon as a liablllty Is ¢on$ldered probable. dls¢ounled lo present value for longer-temi liabllities. Expenditure attributable to more than one cort category in the SOFA is apportioneé to them on the basis of the estimated amount attributable to each activity In the year, either by reference to staff time or the use made of the undedylng assets. as appropriate. Irfecoverable VAT 18 included with the item of exp6ndlture to whl¢h It ￿lates. Oporotlng1oa$•s Rantals under operallng leases are charged on a straight-line basis over the leasa term. even If tha payments are not made on such a basis. Benefrts r8ceNed and receivable as an incenuve to slgn an operating lease are similarly spread on a straight-line basis over the lease temi. 21 ST. CATHERINE'S SCHOOL. BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Flnanclal Instruments Basic financial instruments are inrtially recogni88d at transactKm value and subsequenlty mgasured al amortised cost with thè excèption of inv8stments which are h8ld at fair valu&. Financial assets hekl at aM￿tised cost comprise cash at bank and in hand, together wlth accrued income, trade and other debtors. A specrfic provision is made for debts for whi¢h recoverability is in doubt. Cash at bank and in hand is defined as all cash held In instsnt acceys bank accounts and used as working capital. Financial liabilities hekl at amortlsed cost comprise bank loans. trade credf(ors, other creditors. accruals and entrance fees. Assets and liabilities held in foreign currency ar8 translated to GBP at the balanrE sheet date at an appropriate year end exchange rate. h) Penslon costs The School contribute8 to the Teachers, P8nslon Deflned Benefits Scheme at rates set by the Scheme Actuary and advised to the School by the Scheme Administrator. The Stheme Is a multl-employer pension scheme and it is not possible to identify those assets and Ilabllities of the Sch8ma which are attributablg to the School. In accordan￿ with FRS 102 the Schem& is accounted for as a dgfined Gontribution and ¢onlributions are accounted for in the Peri￿J to which thgy relate. For nc￿-teach1ng staff th8 SGhool contributes to individual personal pension 8ch8mes at maximum of12°A of annual pay. These ¢onlributions are accounted for in the period to which they relate. 22 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 FEES RECEIVABLE 2025 £'ooo 2024 The fees r8Geivablg compri50d: Gr05s fees L85$: Bursaries, $¢holarship$ and other awards 20.255 1.416 20,313 1,314 18,839 67 18,999 94 Add bxk.. Bursaries paid for by Restricted Funds 18,906 19,093 OTHER EDUCATIONAL INCOME 2025 £'ooo 2024 £000 Academic costs recharged to parents Trips. activibes and other cost8 recharged to parents Reglstration feès Extra tuition fees other in¢ome including facility 283 319 606 63 36 129 49 81 133 33 INTEREST RECEIVABLE 2025 £'ooo 2024 £'ooo Interest received from St. Catherine's Enterprises Limited Interest on scholarship, prsze and donated funds Bank interest received 10 10 124 167 143 NEf INCOME The operating surplus is Stated after chargingl{¢redtting): 2025 £'ooo 2024 Auditorfs remuneration Depreciation Profit on disposal of fixed assèts Leasing charges 35.. 1,205 59 1,132 Audit fees for School's subsldlary. St. Catherine's Enterprises Limited. are incurred at the 8ntity level bul pald by the School and are not reflected in the charge above. ncluded In the above are fees of £1k {2024: £1k) relating to thg audit of the S¢hool's TeaGherf$ Penslon Scheme End of Year Cerbficate. 23 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 EMPLOYEES 2025 £'ooo 2024 staff costs: Wages and salari8S Social security C•)sts P8nslon costs 9,877 1,159 9,608 I, 100 1,983 12.691 The number of employee$ whose taxable beneffts (excludiThJ employer pension costs and employer national in8ufdnce contributions) ex¢eeded £60,000 was: 2025 No. 2024 No. £60,001- £70,000 £70,001- £80,000 £80.001- £90,000 £100,001- £110,000 £200,001-£210.000 £240,001- £250,000 12 TWenty-fv￿ {2024: Seventeen) of the above employees ar9 accruing b&nefrts undgr a defined benefits pension scheme. Cont￿bUtionS of £26k <2024: £37k) w9re mad9 to a dgfingd contribution scheme for four {2024: three) employees. Aggrggale employee benellt8 Indudlng employerf8 pension 8nd n8tional insur8n¢e contrlbutions, of key men8g8ment personn81 were £549k12024'. £525k). Total hèadGount was 248 {2024: 2521 of whlch 177 (2024.1771 w8re teathing Staffr. 72 (2024: 75) were other support staff. Included in the above r￿ureS is a figure of £25k {2024.' £30k> for temilnatlon payments made to 3 employees (2024: 1). of whiGh £15k {2024'. £30k) was acc￿￿1 as al the year end. Neither the GovemoTS nor persons Connected with them received any iemunaratlon or b8nefits from the S¢hool or ahy Gonnecled organisalion, other than the relmbursement of travel expenses. w8binar8 and other expenses which We￿ ne¢e$$arity incurred by Gov8mors. Total expenditure relating to Govemor activities totslled £3,447 In 2025 {2024: £5,224). One Govgrnor was reimbursed for travel expen88s in 2025 (2024: 1). 24 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST2025 ANALYSIS OF TOTAL EXPENDITURE Cost8 £'ooo other £'ooo Depreciation £'ooo 2025 £'ooo 2024 £'ooo Costs of ralsing funds Financing costs Devek)pment 221 221 33 28 Total 28 226 243 Charftable actlvltles Teachlng Housekeeping and catarfng Premlses Support and governance cost8 10.555 324 473 1,817 2.434 1.329 1.740 406 11989 1.653 JA18 1223 12619 1,623 3,353 2,060 1.205 Total 13.169 5.909 1.205 20.283 19.655 Total expendI￿re 13.197 6.135 1.205 20,S37 19.898 8. FIXED ASSETS Land and Buildings Assets in course of constnrction £'ooo Other Assets Total £'ooo £'ooo £'ooo Cost At 1 September 2024 Additions Pre-input VAT recovery Adjustments (VAT I CGS) Transfer¥ Impairnient Disposals 52,783 1,067 1.612 3,977 924 {9) 57,827 2,536 (301 (663) (21) (429) 2,355 1234) (2.355) (90} (90) At 31 August 2025 54,688 4,884 59.572 Depreclatlon At 1 September 2024 Charye for year Disposal 11,919 1,022 3,612 183 15,531 1.205 At 31 August 2025 12,941 3,787 1&728 Net book valu• At 31 August 2025 41.747 1,097 42,844 At 31 August 2024 40.864 1.067 365 42,296 Adjuslments tolalling £663k {2024: £nill relate to £663k of estimated VAT recoverable in future financk11 years under the Capital 13)ods Scheme. 25 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 FIXED ASSErs IcoKriNUEDI Land and buiklings were valued on 29 September 1999 by King Sturge and Co. Chartered SuNeyors, using the depreryated replacement cost basls of valuation for the malorfty of the eslate as well as the existing use basis of valu8tion forthe residue where approprfate, to estsbllsh the fair value of these assets when grfted lo this charitable cxsmpany In 1999. The land value estlmated at £6m 1$ not depreciated. Ag at 31 August 2025 there was capital expenditure of £nll (2024: £nll) contracted for but ￿t provided for in the flnanclal ststements. During the year the Phas8 l of th6 &4Tatyst project was completed wth the cost of £2,355k transferred lo Land and Bulldlngs (2024: £nil). An impairment of £90k (2024: £nil> has been recognised in relation to prevlously ¢aptsllsed expenditure attachgd to the School's West Block buikling upgrade as this project is no k)ng8r exp8Ct6d to b8 taken forward in the foreseeabie future. INVESTMENT IN SUBSIDIARY 202S 2024 Shares in subsldlary 100 100 Net book valu8 at 31 August 1iXI loo The cost of the above inve81ment totalled £1 (NJ. The School s interest Is as follow?.. Company Country of Incorporatlon Shares held Class St. Catherine's Enterprfses Limlted England and Wales Ordinary 100 Tha registered office of St. Catherine's Enterprises Limitod (Company Number 02902111) is at th& sam8 address as the School. The principal a¢tivty of the subsidiary is that of selling unrforms and accessories to th8 pupSls of th& School. The company also operates the AnnNersary Halls Bar. Forum Café and Sports Centre on the School site. The net assets of this Gompany at 31 August 2025 were £13k {2024- £13kl. and, al that date, the company's total assets were £41 Ok (2024- £324k) and total Itabilities were £397k (2024: £311k}. The company's profit and k)ss a¢cJ)unt for the year ended 31 August 2025 showed tumover of £298k (2024: £347k) and an operating profil of £64k {2024- £128kl. £117k Gift Aid12024- £127k) has been pald over during the year. Gift Aid £55k {2024.' £117kl was reGgivable al the year end. 10. EXPENDIBLE ENDOWMENT FUND INVE8TMENT8 Tha total r8stricted fund investments were liquidated during 2004. The procggds were loaned to tha ggn9ral fund to finance the acquisf(ion of Iwo r0$iJential properti95. Interest is payable on this loan to tha 19Stricted fvnds al per anNim, as shown in r￿t9 16. 26 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11. DEBTORS 2025 £'ooo 2024 £000 Fees recoverable and Trade Debtors Amount due from Sl. Catherine's Enterprises Limited Other debtors Prepald expenses Accrued income VAT- Capital Goods Scheme 129 363 183 273 304 185 286 184 3 1.231 The VAT - Capttal Goods Scheme, is the expected amount recoverable on frjture VAT retums relating to historic VAT claims. £52k of the r8COV8rabla amount is expected within one year with the balance of £611k re¢overnble after one year. Th8 amount due from SL Calherlne's EnterrKi$es Llmited indudes a loan of£150.000. ￿lCh falls due in greater than one year and ￿lch provides the company vrith working capital to purchase school unlfom stock for fesale. Interest is ¢harged al 1.75¥• p.a. above base on the balance outstandlng at the beglnnlng of each month. 12. CREDITORS: amounts frdlllng due wlthln ong ygar 2025 £'ooo 2024 rooo Trade Greditors Feas in advance other taxation and sc¢ial $eGurity c05ts other creditors Accrued expens8$ Deferred income Entrance fees Loan repayments (note 13) VAT 473 690 272 292 302 627 1.794 249 295 306 175 1.669 369 1.757 378 262 4574 5.484 Fees In advance sch8me {note 13) 3,165 7,739 9.084 The total amount hgld in relation to entrance fees of £1,757k (2024'£1,669kl 1$ in¢luded above. In the nomal coursg of business, the expected repayment of these amounts wlll be £223k {2024.' £240kl within cno yoar and £1,429k12024.' £1,429kl after more than one year. The Governors have reviewed Iho contract torms under which pupil fee deposits are held by the School. Although und8r nonnal circumstances these be ￿paid over fulmre years when the pupils complete thelr education at the sch￿1, pupils can leave at earfier dates. The School does not, therefore. have 8n unconditional right to retain the indNidual deposits for at least 12 morrths after the balance Sheet. In line with FRS 102, the balance of deposits held at the yearend have been included within current liabilities. ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11 cRED￿ORS. amounts falllng du• after more than one year 2025 £'ooo 2024 Loans Fees in advance scheme 3,813 1.829 4,792 3,266 7,458 Fees in advance scheme balances to be applled: In over 6 years In 2-5 years In 1-2 years In less than 1 year 742 1,087 3.165 4994 1.533 1,733 3,600 6,866 Less.. included In current Ilablllties (note 12) (1165 ia600) Loans repayable: In over 5 years In 2-5 years In 1-2 years In less than 1 year 2.193 1.230 2,615 1, 798 379 369 4.561 378 4191 Less= Induded In current Ilabllltles {note 12) 378 4.192 Th8 ba￿￿￿ on the F995 in a(fvance scheme repr8sents the accrued liabilty under the schemo contracts. Further dgtails on Ihg rnovernents in it during tho year are shown in note 14. The School arranged ? lon*term loan with Lloyds Bank plc in the year ended 31st August 2020. The loan18 In the amount of£6.OOOk with a fued rate of 2.605%, repayable in monthly instaknents which commenced In July 2020 and whith are due to be completed by June 2035. The bank loan is S8￿red on the freehold land and buildings at the School. 14. FEES IN ADVANCE SCHEME P8rents may enter into an agreement for the advance payment of feey. Undar terms of tho scheme the advance fee payments may be returned should the relevant pupils leave indepèndant educatlon before the advance fe6 payment is applied. 2025 £'ooo 2024 £'ooo The movements during the year were as follows: Al 1 September 2024 {2023) New contra¢l$ during the year Amounts credw to ¢ontracts 6.866 1.834 3.105 6.056 52 9,213 8.796 ArTh)unts utilised in payment of fees to Ihe School Balan¢e at 31 A￿USt 2025120241 4,994 6.866 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 15. ALLOCATION OF NET ASSErs Expendable Pemi8nent Restricted Endowment Endowment Funds Funds Funds £'ooo £'ooo Unrestrictsd Funds Tol•l £'ooo £'ooo Tangible fixed assets Investment In subsldiary Propety loan Current assets Current liabilitles Long term liabilMes 36,191 6,653 42,844 {188) 5,119 (7,739) 5,642 27.741 475 5,594 ri.739) 5,642 475 6,653 A copy of the comparative fcr the year ended 31 August 2024 1$ provided in note 23. Pomianent Endowment Fund The pemanent end¢)wment fvnd repregents the land and buildings on the Sgnior Schwl Campus that are held on tru8t. Expgndablo Endowment Funds The expendable endowment funds represent funds glv8n lo the School with the Specif￿ purpose of supplementing scholarships and prize8. These funds were loaned to the G9neral Fund lo part fund the purchase of residentlal properties for use by the School. Interest al 5% p.#. is payable on this inter- fvnd loan, this Inter8st belng available for scholarshlp$ and awards. Ro$trlrtgd Fund8 The restrided funds represent un$penl income from the expendable endowment funds and unspont donations in r91ation to olher restrlcted funds. The Bursary Fund exists for donatlons to support parents who are unable to Thet the fèss in full. The Hardship Fund exists for donations to support parents who are unable. temporarily, lo meet the fees in The CATalyst campaign exists to create a new teaching spac8 dedicakd to sclence. technology, maths, digital leamlng. Indek￿d￿nt reading and researth. The Art & MakerSpa¢e campaign existed to creats enhanced areas, full of natural ligm, for Fine Art. Textiles, Culinary Arts and Photography. Create the Future is the uMb￿lIa campaign for Th8 6. The CATatyst and The Art & Makerspace campalgns. Further expenditure oui of each of lh8 above funds is planned during the 202&26 financ181 year. Unrestrlctsd Funds The Governors have separatety identified re¢elpts and spending on donations and lega¢ies for general educational purposes which are applied through the General Fund. ST. CATHERINE'S SCHOOL BRAMLEY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16. MOVEMENT ON FUNDS I Seplember 2024 £'ooo 31 August 2025 £'ooo Income £'ooo Expendllure £'ooo Trar￿tsrS £'ooo Unrestrlcted Funds General Fund 27.589 20.454 0.361 59 27,741 b) Restrfcted Funds Scholarshlp funds 191 Donatlons Bursary Fund Hardship Fund Th8 6 Campaign CATalyst Campaign Art & MakerSpa¢e Create the Futu Other 17 25 125) (34) 45 {1> 78 {21 1131) 132 49 238 52 70 59 475 ¢) Exp¢ndablo •ndowmgnts 8cholarshlp fvnd$ T M Kttchin Mrs Russell-Baker St. Catherine's Old Girls Margaret Kay9 Gregory Award Mrs S Bevan Endowment fund 74 77 74 22 22 Priz• funds 188 188 Pemianent Endowment Property fund 6.753 1C 6,653 7¢tal Endowment Fund 6,941 100 A copy of the comparatlve for the year ended 31 August 20241$ wovided In note 24. Transfers betsveen restricted and unreslricted funds representthe uli118ation of funds in accordance with the terms of the funds. Within the ygar £53k was transferred to the General Fund from the "CATalyst Campaign. arKI th& 'Create the Futurg. campaign In relatlon to capital expendlture incurred on the CATalyst Phase 1 project which were inilialy paid from General Funds. Additionally, £1k £2k w6r6 transferred lo General Funds from "The 6 Campalgn. and the °Art & Maker Space. campaign with these residual donation5 offs9tting gxp8ndilure paid Irom Gengral Funds duiing the period. £3k was transferred from the 'Play Your Part. campaign wilhin Other donations atQVg in relat￿)n to capilalised expenditure on the newly completed drama studio during tho yaar. 30 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 17. PENSIONS AND UFE ASSURANCE Teachlng Staff The School parti¢rpales In the Teach8rs' Pension Scheme {Yhe TPY) for Its teaching staff. The pen8ion charge for th9 year Incfudes School ointrbi utions payable to the TPS of £1,875k {2024.' £1,689k) and at thg year-end £176k (2024.. £154k) was accrued in respect of S¢hool contributions lo thls ￿haMe. The TP8 is an unfvnded mult1￿MplOyer dellned bonefits penslon 8cheme tsTh)vemed by The Teachers. Pensions Regulations 2010 las amended) and The Teachers, Pension Sch8me Regulations 2014 (as amended). M9mbers contrfbute on a'pay a8 you go. basis ¢ontributlons from m8mbers and Ihe &mpksyer being credlted to the Exchequer. Retirement and other pension benefits are paid by publiG fuTrJs provided by Parliament. Th9 gmployer cOntribut￿n rat8 is set by the Secretary of Slate following stheme valuations und9rtaken ty Ihe Govemm8nt Acluarfs Department. The most recent actuarfal valuation of the TPS was prgpared as at 31 Mar¢h 2020 ar)d the Valuatlon Report was pubfished in October 2023. Tho Valuation Report shows notional a55ets of £222.2bn and liabilitws of £262bn. resultlro tn a Schemo deficlt of £39.8bn. The employer contrthuon rate for the TPS is 28.6%, and employers ore also requlred to pay a scheme administration of 0.08% gNing a total employer contrlbutlon rale of 28.68%. Non4eaGhing Staff The School's ¢ontributions to Ihe pergonal pwsion schemes of rM)n-tea¢hing slaff In the year were £286k (2024: £294k>. 18. TAXATION The company is regist6red as a UK charty and &qn take advantage of the exemptions ava￿able to charities. 19. FINANCIAL IN8TRUMENTS 2025 £'ooo 2024 FinanGial assots measured at amortised cost (a) Financial liabilllies measured at amortised cost Ib) Net financlal assets l {Ilabllid8sI measured at arrhytised cost 735 6,956 ,221 9.066 1.608 (a} Flnancial assets Include fAsh, trade and fee debtors. stsff loans, other debtors, accrued Income and amounts from subsidiarfe8. (b) Financlal Ilablllties Include deposits. loang ropayable. trad& cred5tors, other ¢redltors and accrued expense$. 31 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 20. OPERATING LEASES At 31 August 2025. the Schwl had tolal ¢ommltments undor non4an¢ellable oporating lea$6$ in one year or less of £1k (2024: £1 kl and g￿at9rthan one year and less than five years of £2k (2024: £3kl for office equlpment. 21. RELATED PARTY TRANSACTIONS The following amounts were charged io St. Catherine's Enierprises Limtted, the School'g wholty owned trading subsidiary. during the year. 2025 £'ooo 2024 Staff costs Rent Admlnlstratlve support Interest 57 12 12 10 10 The recharged staff costs represent the cosl of staff employed by the School who have provlded labour in the unifomi shop and the Sports Centre, Anniversary Halls Bar and Forum Café operalions. The rent and administrative support charges rewesent management's best estimate of costs incurred in the running of the unrfomi shop. Inlerest 1$ tharggj at 1.75% p.a. above base on Ihe loan balance outstandlng at the beglnnlw of each month. For details of the anh)unt due from St. Catherinè's EntÉrpris&s Limitgd at the ￿r-and. sèa note 11. During the year Ihe Sthool inGurred total costs of £8k (2024.. £8kl with related parties. A partner of a member of the key management personnel tharged £8k {2024.' £8k) for organising chess activities including the purchase of equipment. The balance outstanding at the year-end was £nil (2024.. £nil}. These arrangements weTr fvlly considered by the Govemors who look steps to ensu￿ that they provided best value for the S¢hc*)l. 32 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 22. STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restricted EThJowment Funds Funds Fund8 £'ooo £'ooo £'ooo Total 2024 £'ooo Total 2023 £000 Notes INCOME AND ENDOWMENTS FROM Charltable actlvltles School fees Other educational Incom8 19,093 1,153 19,093 1,153 17,655 1.370 Intornst re￿1vabl• Donations & logacles 134 143 94 24 98 other tradlng In¢om• Grft aKI from subsidiary Other IncomelRentsls 117 101 127 72 Total Incom• 20.598 103 20.701 19,346 EXPENDrruRE ON RAISING FUNDS Flnan¢e costs under Advance Fe8s Contracts Bank Interest and d)arges Dgvglopment costs 52 62 136 55 138 55 140 243 247 Charftable actlvltl•s Edu¢aUon 19,134 421 100 19,655 18,810 Total •xpendltur• 19,377 421 100 19,898 19,057 Nat In¢omel(èxpondituro) 1,221 (318) 1100) 803 Tran$f•rs b9t￿Sn funds 16 Not mov•m•nt In funds 1.221 (318} 1100) 803 R￿r¥0% broughl fO￿ard 26,368 793 7,041 34,202 33,913 Re8erw6 ¢arrfed forward 27,589 475 6.941 35.005 34,202 33 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 23. COMPARATIVE ALLOCATION OF ASSETS Expendable Permanent Restricted Endowment Endowment Funds Funds Funds £'ooo £'ooo £'ooo Unrestricted Funds £'ooo Total £'ooo Ats at 31 August 2024.. Tanglble fixed assets Investment In subsldlary Property h)8n Current assets Current liabilitles LorKJ temi liabilities 35.543 6,753 42.296 11881 8.776 {9.0841 {7.4581 188 475 9,251 19,084 17,458 27,589 475 188 6,753 ￿005 ST. CATHERINE'S SCHOOL, BRAMLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 COMPARATIVE MOVEMENT ON FUNDS 1 S•pt8mber 2023 £'ooo 31 August 2024 £'ooo In¢ome Expgnditur8 £'ooo £'ooo Transfers £'ooo Unrestrictod Funds General Fund 26,368 20,598 19,377 27,589 b) Re$trl¢t•d Funds Scholarshlp fvnd$ {9) Donations Bursary Fund Hardship Fund Th9 6 CampaHJn CATalyst Campaign Art & Makerspaca Create the Futuré Other 43 47 40 (75) (10} (10) (92) (2) 1218) 208 16 132 10 17 238 793 103 421 475 Expendable endowments S¢hol•rshlp lunds T M Kitchin Mrs Russell-Baker st. Catherine's Old Girls Margaret Kaye Gregory Award Mrs S Bevan EndowTnent fund 74 74 22 Priz• funds 188 188 Pennanent Endowm•nt Propety fijnd 6,853 100 6,753 Total Endowment rynd 7.047 100 6,941 35