SÈRvif4
URSULINE PREPARATORY SCHOOL
WIMBLEDON TRUST
(Limited by guarantee)
FINANCIAL STATEMENTS AND
ANNUAL REPORT
FOR THE YEAR ENDING
31 AUGUST 2024
Company Reglstratlon No. 03914222
Charlty Registratlon No. 1079754
Jacob Cavenagh & Skeet
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrev
SMI 2SW

URSULINE PREPARATORY SCHOOL
WIMBLEDON TRUST
(Limited by guarantee)
FINANCIAL STATEMENTS AND
ANNUAL REPORT
FOR THE YEAR ENDING
31 AUGUST 2024
Contents
Page
Trustees, Report
Report of the Independent Auditor
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements
8-10
li
12
13
14-20

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024
Refefence and administrative information
Trustees and Directors
The trustees of the charity, who are directors of the company. are as follows;
Ms A Thimont
Mr G A Smith
Mr M Leclerq
Mr R Barraclough
Ms S Badger
Governors
Ms M D'Aprano Ichairl
Miss G Deen
Mr M Jones
Mr C King
Mr5 M Monaghan
Mr P Morgan
Ms J O'Mear3
Mrs T Townsend
Ms B Turner
Mrs C Whatlin8
(resigned 31 Au8USt 20241
Iresigned 8 November 20231
Iresigned 31 August 20241
(resigned 31 Au8USt 20241
(resigned 31 August 20241
(resigned 31 August 20241
(resigned 31 August 20241
(resigned 31 August 20241
Iresigned 31 August 20241
Ire518ned 31 Au8USt 20241
Secretary
Mrs H Robinson
Head
Ms C Molina-Freire
(left 31 August 20241
Clerk to Governors
MrsA King
8ur50r
Mrs H Robinson
Key Management Personnel
The following are responsible for the day-to-day management of the charity and are therefore considered to be Key
Management Personnel:
The Trustees
The Governors
The Head
The Bursar
Miss K Donaghy (Deputy Headl
luntil left 31 August 20241
Ms R Cherry (Assistant Headl
luntil left 31 December 20231
Mrs N Cleeve Ichaplainl
luntil left 31 August 20241
M5 AM Mccarthy IPA to Head and Office Managerl (until left 31 August 20241
(until resignedl
(until left 31 Au8USt 20241

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (continued}
Reference and administrative Information (continued)
Reglstered Offlce
18 The Downs
London
SW20 8HR
Auditors
Jacob Cavenagh& Skeet
5 Robin Hood Lane
Sutton
Surrey
SMI 2SW
Bonkers
HSBC
69 Pall Mall
London
SWIY SEY
Solicltors
Veale Wasbrough Vizards LLP
Orchard Court
Orchard Lane
BSI 5WS
Moore Barlow LLP
The Oriel
Sydenham Road
Guildford
GUI 3SR

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Icontinuedl
STRUCTURE, GOVERNANCE AND MANAGEMENT
Background and governance
Ursuline Preparatory School Wimbledon Trust was registered as a charity on 8 March 2000 and was incorporated on 26 January
2000 as a company limited by guarantee. The liability of the members is limited to £1. Subscribers to the Trust's Memorandum
are the initial members of the company, and subsequent members are either ex officio members or elected members. The
Trustees and Governors of the Preparatory School are ex officio members. Elected members are appointed by the Trustees for
a term of four years or less as may be determined at the time of election and are eligible for consecutive periods not exceeding
twelve years in a88regate.
New Trustees are nominated by the Trustees and are then elected by the Members at the Annual General Meeting. The Chair
of the Trustees is elected by a majority of the Trustees. The Chair of the Board of Governors and Foundation Governors are
appointed by the Trustees. In makin8 these appointments the Trustees have re8ard to eligibility, personal competence and the
balance of specialist skills required.
The Preparatory School was transferred to the Trust by the Trustees of the Roman Union of the Order of St Ursula on I
September 2000.
The revised Memorandum of Association was adopted in March 2015, updated in March 2021 and re8lStered with the Re8lStrar
of Companies and the Charity commiss￿On.
At 31 Au8USt 2024 the company ceased to operate as a School.
Prlnclpal Activity
Up to 31 August 2024, the Ursuline Preparatory School provided education for girls a8ed 3-11 (Early Years, Key Sta8es 1&21 and
boy5 a8ed 3-4 (Pre- School only).
Organlsatlonal structure and management
The School was governed by its Memorandum of Association and the related Instrument of Governance.
The Trustees and the Governors determine the general policy of the Trust. Trustee meetin85 are held at least three times each
vear to develop general policy and review the overall management and control of the School. Governance of the school was
delegated by the Trustees to the Governors throu8h the Instrument of Governance. Governors, meetin85 were held every term
to review the management and progress of the school against its plans and policies. When Governors met each term, thev
received the Head's report together with financial and other reports.
The management of the School was delegated to the Head supported by the Senior Leadership Team.
The key management personnel of the charity as listed on page I were in charge of directing, controllin8, running and operating
the charity on a day to day basis. All Trustees and Governors give of their time freely and none received any remuneration in
the year. Details of Trustees, and Governors, expenses and related party transaction5 are disclosed in Note 6 to the financial
statements. The pay of the Head and other senior staff was reviewed annually and normally increased in accordance with
verage earnings and assessed performance.
The School was a member of IAPS and supports charities, local, national and international.
Trustees. responslbilities
The Trustees (who are also directors of Ursuline Preparatory School Wimbledon Trust for the purposes of company lawl are
responsib5e for preparing the Trustees, Report lin¢orporating the directors, report) and the financial statements in accordan ce
with applicable law and United Kingdom Accounting Standards, including Financial Reportin8 Standard 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Icontinuedl
STRUCTURE. GOVERNANCE AND MANAGEMENT (continued)
Trustees, responsibilities Icontinuedl
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the
state of affairs of the charitable company and of the incomin8 resources and application of resources, including the income and
expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and apply them consistently,.
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent,.
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and
explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable
company will continue its operations.
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 enable them to ensure that the financial statements comply with the Companie5
Act 2006. They are also responsible for safeg¢Jarding the assets of the charitable company and hence for taking reasonable steps
for the prevention of fraud and other irregularities. The Trustees are responsible for the maintenance and inte8rity of thè
corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the
preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of Informatlon to audltors
To the knowledge and belief of the Trustees, there is no relevant information of which the charity's auditors are not aware, and
the Trustees have taken all the step5 necessary to make themselves aware of any relevant audit information, and to establish
that the company's auditors are aware of that information.
AIMS AND OBJECTIVES
Until the end of the summer term in July 2024, the Trust sought to provide the highest quality education within the Ursuline
tradition in accordance with the School's mission statement..
To maintain high standards of academic and extra-curricular education.
To provide specific educational provision for pupils with higher academic ability while also ensuring suitable teaching and
extra support is in place for those pupils who would benefit from it.
To continue the first class pastoral care we provide for pupil5.
To provide continuing support for our pupils already in receipt of fee assistance through bursaries.
To play our part in the life of our local community throu8h access to our facilitie5.
Going forward, the Trustees will ensure that the Trust's activities are in line with its objects which are to advance the Roman
Catholic religion, with a particular emphasis on education.

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Icontinuedl
REVIEW OF THE YEAR
Review of activities and achievements
2023124 Senior School Offer5
School
Received offer
Scholarship
Box Hill
Claremont Fan
City of London
Emanuel
Epsom College
JAGS
Kingston Gfammar
Schol
Lady Eleanor Holles
Notre Dame
Putney High School
St John's
Leatherhead
St Teresa's
Effingham
Surbiton High
School
Sutton High School
Wimbledon High
School
Grammar..
Tiffin/Wallington
Despite the announcement in November 2023 of the proposed closure of the School at the end of the academic year, the School
continued with the full range of educational activities. Our children continued to flourish academically and pastorally, and the
staff worked exceptionally hard to ensure that it was business as usual to the very last day.
There were residential trips to France Iyear 61, Swanage (Year 51 and juniper Hall (Years 3 and 41. There were musical recita Is,
nativities and the splendid end of year production of Porridge where our pupils showed off their acting, singing and comedic
talents. In addition to normal lessons there were many educational trip5 and workshops including to theatres, museums, farms
and churches. There was first aid training, science and maths workshops and much more.
To mark the closure of the school we invited current and past pupils, parents and staff to a thanksgiving mass followed bv
afternoon tea at the school. All were given the opportunity to look around the school, reMin￿sce and share happy memories of
their time at Ursuline Prep.
Fees
Our fees for the year before the deduction of any means-tested bursaries were.. Pre School (full timel to Year 6 £13,980.
Assessment Results
Our 5tandardised assessment week ran in May 2024 as usual and our children in Years 1- 6 completed Progress Tests in English
IPTE GL Assessment) and Progress Tests in Maths IPTM GL Assessment51- As our results show, all year groups achieved a
mean standardised score ISASI well above the national average benchmark11001 in both Maths and English.

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Icontinuedl
Trinl
2024 Standardised Test Results In En
Ilsh
PTE
and Mathematlcs
National average SAS
Ursuline Average SAS-
PTM Imathsl
121
Ursuline Average SAS- PTE
{Englishl
128
Year I
loo
Year2
loo
117
117
Year 3
loo
109
117
Year 4
loo
118
114
Year 5
loo
117
117
Year 6
loo
117
119
Detalls of Bursary Awards
Four of the School's pupi15 received financial a551Stance throu8h the award of a Bursary. All were in receipt of an award of 33%.
Community Service and publlc benefit
The Trustees have regard for the public benefit guidance published by the Charity Commission as required by the Charities Act
2011.
The School facilities were available for community use either free or at discounted rates. The School sought to widen public
access to the school site. Camp Beaumont hired our school premises for school holiday children's camps, durin8 the Christmas,
Easter and Summer holidays and the Michaelmas and Lent half terms. The camp was available to Ursuline Prep School pupils
and all other local children. The Multi Use Games Area was hired to various local sports clubs. The hall was used by our
neighbours for meeting5.
Reserves
The statement of financial activities shows that total expenditure for the year exceeded total income, with net expenditure of
£813,79512023'. £ 113,6931. The balance sheet shows that total funds of the Trust were £2,351,27412023. £3,165,069). These
were represented by tangible fixed assets of £4,917,418 12023.. £5,056,108) and net current liabilities of £737,842 12023..
£62,779). Finance due after more than one year is provided by deposits, a loan from the Roman Union of the Order of St Ursula
and a loan from HSBC plc as set out in Note 11.
Investment pollcy
The Company's Memorandum of Association permits the investment of monies of the charitable company not immediately
required for its purposes in such investments, securities or property as may be thought f it by the director5, subject to any
restrictions which may, for the time being, be imposed or required by law. The Company has made no such investments during
the year.

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (continued)
Fundraising
In line with the reporting requirements included in the Charities Act 2016 the Governors are pleased to confirm that all
fundraising is done in compliance with best fundraising practice. All fundraising activities follow traditional methods. During the
year no professional fundraisers were employed. There were no complaints or criticisms during the year about our fundraising
activities.
Fixed Assets
The changes in fixed assets during the year are explained in the note5 to the financial statements.
RSsk
During the year, the Trustees continued to review the general environment in which the charity operated to identify potential
major risks and the systems and procedures Set up to manage them and the Senior Leadership Team kept the school's activities
under review. With careful financial management all financial risks were averted, and the Trust was fortunate to sell the property
soon after the school closure to avoid the risks inherent in owning an empty property over the winter.
Future of the Trust
On l November 2023 the Trustee5 and Governors of the Ursuline Preparatory School, Wimbledon, were very Sad to announce
the proposed closure of the school at the end of Au8USt 2024.
A number of factors led to this position, despite careful measures to ensure the highest Quality of education for girls in the
area. The previous few years had been very difficult for small schools Such as the Ursuline Prep. Pupil numbers had fallen
significantly due to a series of unprecedented economic events, general financial pressure and a declinin8 birthrate. As at
September 2023 the number of pupils had fallen below the levels that allowed the school to plan for its future and it was felt
important to give all the members of our Ursuline Family time to plan for their future.
We were deli8hted that The Ursuline Prep continued to provide the highest quality Catholic education for all the children in its
community for the whole academic year and that most of our children were able to stay at the school until the end of the summer
term. The Year 6 Evening of Celebration and prizegiving and mass on the last day of term were very poignant occasions as the
whole school said 8oodbye and gave thanks for eighty years of Ursuline education at 18 The Downs.
At 31 Au8USt 2024 the charity ceased to operate as a school and on 7 October 2024 the school site was sold to Kings College
Wimbledon. We were pleased to be able to donate all our learning equipment and supplies to a range of local schools and
educational establishments. A decision will be taken by the Trustees whether to wind the charity up or fulfil its charitable
objectives in another way. Accordingly, the financial statements have been prepared on a basis other than as a going concern
as a school.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the
Companies Act 2006.
Ann Th5mont- Trustee and Chalr of Trustees
10 December 2024

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF URSULINE
PREPARATORY SCHOOL WIMBLEDON TRUST FOR THE YEAR ENDED 31 AUGUST 2024
Opinion
We have audited the financial statements of Ursuline Preparatory School Wimbledon Trust (the 'charity'l for the year ended
31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and
the 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 to the law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 and the Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practicel.
In our opinion the financial statements..
8ive a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its income and
expenditure for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditin8 IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial
statements section of our report. We are independent of the charitable company in accordance with the ethical requirements
that are relevant to our audit of the financial Statements in the UK, including the FRC'S Ethical Standard, and we have fulfi Iled
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.
Emphasls of matter- flnancial statements prepared on a basis other than going concern
We draw attention to Note 17 of the financial statements, which explains that the charity ceased to trade in August 2024 and
therefore the Trustees do not consider it to be appropriate to adopt the 80in8 concern basis of accounti ng in preparing the
financial statements. Accordin8ly the financial statements have been prepared on a basis other than 80in8 concern as
described in Note Ib. Our opinion is not modified in respect of this matter.
Other infor matlon
The other information comprises the irnformation included in the annual report, other than the financial statements and our
auditor's report thereon. The Trustees are responsible for the other information. 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 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 knowled8e 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 there is a material misstatement in the financial statements or
material misstatement of the other information. 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 nothin8 to report in this regard.
Oplnlons on other matters pre5crlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information 8iven in the Trustees, Report, which includes the directors, report prepared for the purposes of
company law, for the financial year for which the financial statements are prepared is consistent with the financial
statements,. and
the directors, report included within the Trustee5' Report has been prepared in accordance with applicable le8al
requirements.
Matters on which we are required to report by e¥ceptlon
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we
have not identified material misstatements in the Directors, report included with the Tru5tee5' report.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF URSULINE
PREPARATORY SCHOOL WIMBLEDON TRUST FOR THE YEAR ENDED 31 AUGUST 2024
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to
report to you if, in our opinion..
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 governors, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit; or
the tfustees were not entitled to prepare the financial statements in accoidance with the small companies,
regime and take advantage of the small companies, exemptions in preparing the trusteès. report and from the
requirement to prepare a strategic rèport.
Responslbllltles of Trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees Iwho are 31so the directors of the charitab le
company for the purposes of company lawl 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 charity'5 ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and u5in8 the going concern basis of accounting unless
the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responslbllities for the audit of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materi31
misstatement, whether due to fraud or error, and tO155ue an auditor's report that includes our opinion. Reasonable assurance
is a hi8h level of a55urance, but is not 3 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a
material misstatemer)t when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggre8ate, they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with
our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent
to which our procedures are capable of detecting irregularities, including fraud is detailed below..
Based on our understandin8 of the charity, we identified that the principal risks of non-compliance with laws and re8ulations
related to employment and financial reporting legislation and we considered the extent to which non-compliance might have
a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the
preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011. We assessed the
susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how
fraud mi8ht occur, by making enquiries of management, considering the internal controls in place and discussion amon8St
the engagement team.
We determined that the principal risks were related to management bias in accounting estimates, presentation of separatelv
disclosed item5 and management override of controls. In response to the risks identified we designed procedures which
included, but were not limited to, challengin8 significant accounting estimates, a8reeing financial statement di5closure5 to
underlying supporting documentation, evaluating the internal controls, reviewing Tru5tees' minutes and identifying and
testing journal entrie5.
There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are
from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatement5 that
arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or
collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financia I
Reportin8 Council's website at= http'./lwww.frc.or8.uk/auditorsrespon5ibilities. This description forms part of our auditor's
report.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF URSULINE
PREPARATORY SCHOOL WIMBLEDON TRUST FOR THE YEAR ENDED 31 AUGUST 2024
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 and regulations made under that Act. 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 auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or asstjme responsibility to anyone other than the
charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.
Miriam Hickson FCA CTA
Senlor Statutory Auditor
For and on behalf of
jacob Cavenagh& Skeet
Statutory Auditor
Chartered Accountants
S Robin Hood Lane
Sutton
Surrey
SMI 25W
10 December 2024
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URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
BALANCE SHEET AT 31 AUGUST 2024
Com
Istralion Number.. 03914222
Notes
2024
2023
Flxed assets
Tangible fixed asset5
4,917,418
5,056,108
Current assets
Debtors
Cash at bank and in hand
20,154
66,205
622 490
688,695
22.793
Creditors: amount5 fallin8 due within one year
io
1760 6351
17514741
Net current {liabilities)/assets
1 737 8421
1 62 7791
Total assets less current Ilabilltles
Credltors: amounts falling due
after more than one year
4,179,576
4,993,329
li
11828 3021
11828 2601
Net assets
Funds
Unrestricted
Capital reserve fund
General fund
12
3,010,506
1659 7321
2,350,774
3,088,143
3,164,569
Restricted
Ursuline Links
50
The financial statements were prepared in accordance with the special provisions relating to small companies within
Part 15 of the Companies Act 2006. Approved by the Truslees on 10 December 2024 and signed on their behalf by:
AAwtr
Ann Thlmont- Trustee and Chalr of Trustees
12-

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Net cash (used inllprovided by operating activities (see below}
1435,1551
182,655
Cash flows from investin8 actlvitles
Payments made in respect of fixed asset additions
Proceeds reali5ed on fixed asset disposals
Net cash provided byllused inl investin8 activities
1 1,8601
1167,0711
1167 0711
Cash flows from financln8 activities
Interest paid
Loan Irepaymentsl
Net cash (used inl flnanclng artlvltles
1134,7831
1610531
1195 8361
1105,6921
1136 0841
12417761
Net cash loutflow}
1619,8511
1226,1921
Cash and cash equivalents at I September 2023
848 682
Cash and cash equlvalents at 31 August 2024
Note: Cash flows from operatln8 actSvltles
Net {expenditurel
1813,7951
1113,6931
Depreciation
(Gainllloss on disposal of fixed assets
Loan interest payable included in financing activities
Decrease in debtors
Increase in creditors
140,550
113,0001
134,783
46,051
121,439
105,692
1,519
Net cash {used Inllprovided by operatln8 actlvltles
Analysls of changes In net debt
At I September
2023
Cash
flows
Other non- At 31 August
cash changes
2024
Cash at bank
Bank overdraft
Bank and other loans repayable within one year
Bank and other loans repayable after more than one year
622,490 1 619,8511
1 504,1001
61,095
2,639
1 504 1001
1 78,6101
1 139,7051
Total net debt
ILL1￿) {LQfiU￿l
13

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
I. ACCOUNTING POLICIES
Ursuline Preparatory School Wimbledon Trust 15 a private company limited by guarantee incorporated in England and Wales. The
registered office is 18 The Downs, London SW20 8HR.
Basis of preparatlon of the Ilnancial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the
UK and Republic of Ireland" I'FRS 102,1, "Accounting and Reporting by Charities" the Statement of Recommended Practice for
charities applying FRS 102, the Companies Act 2006, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it
applies from l January 2019. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these
financial statements are rounded to the nearest £.
The linancial statements have been prepared on the historical cost convention and to include certain financial instrvments at fair
value. The principal accounting policies adopted are set out below.
b. Golng concern
As explained in Note 17 to the financial statements, the charity ceased to trade on 31 August 2024 and the financial statements
have therefore been prepared on a basis other than that of going concern. This basis includes revised estimates of useful
economic life of non property assets, doubtful debts and when deposits will be repayable. Agreed and paid redundancy costs
have been recognised in these accounts,
Fees
School fees consist of amounts billed for the academic year ending 31 August and are net of siblin8 discounts. Amount5 billed
during July for the first term of the following academic year are eliminated and any receipts prior to the year end relatin8 to these
invoices are deferred and disclosed within creditors as Fees received in advance.
d. Other Income
Voluntary incorne and donations lincluding le8acie5 and grants) are accounted for once the charity has entitlement to the income,
it is probable that the income will be received and the amount of income receivable can be reliably measured. Where material
assets are donated to the company for its use, these are capitalised at the estimated market value at the date of the 8ift an d
included under income.
Allocatlon of expendlture
Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities.
Roi5ing funds
All direct expenditure on fundraising, marketing and financing are allocated to this category, with an additional apportionment of
staff overheads based on mana8ement estimates of avera8e time spent on these costs.
Choritoble activities
All costs relating to the provision of education are included here. This incorporate5 all direct teaching, premises and admin istrative
and support costs lapart from such staffing time as apportioned to cost of generating fundsl.
Governance cost5
This comprises expenditure on compliance with statutory legal requirements and is included in charitable activities.
14-

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 {continued}
I. ACCOUNTING POLICIES Icontinuedl
Tangible fixed assets
Tangible fixed assets are shown at historical cost less depreciation. Individual assets under £1,000 are expensed in the year
of acquisition. Depreciation is provided over the expected useful economic life of the asset5 as follows:
Freehold buildings
Security system
Equipment and computer system
School equipment
50 years
2 years
2 years
2 years
Freehold land and buildings in the course of construction are not depreciated.
Debtors
Fees and extras receivable and other debtors are included at the settlement amount due. Prepayment5 are valued at the
amount prepaid.
Cash and cash equivalents
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 opening of the deposit.
Credltors and provlslons
Creditors and provisions are reco8nised where the charity has a present obligation arising 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 recoBnised at their settlement amount. Concessionary loans are included at historical
cost,
Financlal Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial
instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Penslon schemes
The School participated in a defined contribution pension scheme for teaching staff. The assets of these schemes are held
separately from those of the School in independently administered funds.
The School also contributed to a defined contribution scheme for non-teaching staff at a rate of 7% of basic pay. The assets
of the Scheme are held separately from those of the School in an independently administered fund.
Contributions to both Schemes are charged to the SOFA as they become payable in accordance with the Rules of the Schemes.
2. DONATIONS AND LEGACIES
Unrestrlcted
Funds
Restricted
Funds
Total
2024
Total
2023
Grants received
Donations received
Total Grants and Donations received
91,645
351
91,645
351
94,170
The school receives a termly grant from the local council for childcare given for 15 hours a week for nursery pupils.
15-

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)
3. OTHER TRADING ACTIVITIES
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Income from sundry activities
Expenditure on Sundry activities
Net income
183,144
1114 8951
183,144
228,936
1114 8951 1123 977
4. INCOME FROM OTHER SOURCES
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Hire of hall
5. TOTAL EXPENDITURE
2024
Depreciation
& Impalrment
2023
Total
Staff
costs
Other
costs
Total
Charitoble activities
Teaching costs
Premises
Support Costs
1,427,853
187,592
169,398
170 470
527,460
7,431
123,230
1,622,876 1,405,692
292,628
397.236
719 768
433 491
2,635,272 2,236,419
539 409
1,967,262
140,550
Roi5ing funds
Fundraising trading Costs Inote 31
Marketing and publicity
Bank and loan interest
Bad debt Irecoveryl/expenditure
Total expenditure
114,895
9,381
134,783
114,895
9,381
134,783
123,977
10,983
105.692
Included in other support Costs are the following:
2024
2023
Stationery
Computer costs
Telephone and postage
Legal and other professional fees
Governance costs.. audit
Accountancy
Sundry expenses
Insurance
Travel and subsistence
Total other support costs
10,065
40,093
4,012
75,653
7,158
9,335
21,780
2,103
271
11,095
38,606
4.644
8,260
6,852
13,417
18,341
2,079
659

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)
6. STAFF COSTS AND RELATED PARTY TRANSACTIONS
2024
2023
Wages and salaries
Redundancies
Social security costs
Pension contributions
1,284,655 1,241,291
418,613
128,019
135 975
116,090
129 833
The average number of employees Ibased on headcountl in the year was:
Teaching
Support staff
29
12
30
13
The total rernuneration of Key Management Personnel durin8 the year amounted to £376,84512023'. £282,549>. Trustees,
liability insurance premium5 of £2, 10312023.. £2,097) were borne by the School.
One employee received emoluments of between £60,000 and £70,00012023'. none) and one employee received emoluments
between £70,000 and £80,000 in the year12023'. onel and one employee received emolument5 between £IOO,000 and
£110,000 in the year12023'. none). None of the directors or Governors received any remuneration for services as a Trustee
of the charity or as a director of the company and none of the directors received any reimbursement for expenses incurred
in relation to the charity during the current or previous year. No Governors received a reimbursement of expenses12023'.
none). Payments of £nil12023'. £2001 were made to third parties in respect of trainin8 courses for three Governors. Total
donations from trustees and Governors amounted to £2012023.. £nill.
Mrs C Whatling and Mrs H Hogben, governors, are parents and Mr G Smith, a trustee, is a grandparent, of pupils that
attended the school for whom fees were payable to the school. Fees payable and any discounts were charged and awarded
on the same basis as for other parent5.
Termination payments of £418,613 were recognised during the year when a8reement was reached 12023.. £nill and are
included in staff costs above.
7. TANGIBLE FIXED ASSETS
Freehold
land &
buildlngs
Equlpment
Securlty & computer
system
System
School
Equlpment
Total
Cost
At I September 2023
Additions
Disposals
At 31 August 2024
6,208,460
1,860
89,246
269,740
168,357 6,735,803
1,860
12611561 158 8201 1319 9761
8 584 ifiL7
io
417
6 210 320
Depreciatlon and lrnpairment
At I September 2023
Charge for the year
Disposals
At 31 August 2024
1, 173,119
119,783
85,797
3,449
259,853
9.887
261156
160,926 1,679,695
7,431
140,550
158 8201 1319 97
109 537 1 500 269
1292 902
Net Book Value
At 31 August 2024
At 31 August 2023
491741
35.341
The freehold property was sold in October 2024.

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued)
8. DEBTORS
2024
2023
School fees
Prepayments
1,065
27,618
9. CASH AT BANK AND IN HAND
2024
2023
Oeposit accounts
Current accounts
Petty cash
2,139
500
621,488
802
200
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank overdraft
Trade creditors
Fees received in advance
Deposits
Loan Repayments to the Roman Union of the Order of St Ursula
Loan repayments due to HSBC Bank plc
Other taxes and social security
Staff pensions
Accrua15
504, 100
26,354
78,642
209,443
151,902
28,008
111,697
28,956
16,861
125 965
78,610
28,771
18,064
An overdraft facility of £760,000 was granted durin8 the year. The interest rate was 3.8% above the base rate. This was
secured on the school property. This was fully repaid in October 2024.
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Loan repayments due to Roman Union of the Order of St Ursula
In 1-2 years
In 2-5 years
After 5 years
60,644
41,972
Loan repayments due to HSBC Bank plc
In 1-2 years
In 2-5 years
After 5 years
138,988
120.431
475,553
414,022
1153 117 1251835
1767 658 1786 288
The loan facilities from HSBC Bank plc are secured by a first charge on the School property and are repayable by monthly
instalments ending in 2035. The interest rate is fixed at 1.75% above base rate subject to review. This loan value as a
proportion of the carryin8 value of the School property is 37.55%12023.' 37.7%1.
The loan from the Trustees of the English Province of the Roman Union of the Order of St Ursula is interest free. This is
secured by fixed and floating charges over the School assets not already mort8a8ed. It is repayable by equal monthlv
nstalments over 5 years, but a 12 month repayment holiday was granted in May 2020.
All borrowin85 were repaid in October 2024 and all char8es were satisfied.

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 {conlinuedl
12. FUNDS
Result
from
SOFA
Balance
BIF
8alance
CIF
Transfers
2024
Unfestrlcted
Capital reserve
General
3,088,143
177,6371 3,010,506
659 7321
2,350,774
1813 7951
1813,795
3,164,569
Restrl¢ted
Parents, Association
Ursuline Links
500
QES I￿)
500
3512.7A
2023
Unrestrlcted
Capital reserwe
General
2,906,427
181,716 3,088,143
3,278,262
1167,5681
53,875 3,164,569
Restrlcted
Parents, Association
Ursuline Links
53,875
153,8751
500
500
The School funds are held in designated funds. The separate desi8n3tions are intended to distinguish between the different
sources of the funds and their application as follows..
al Capital reserve.. this fund is designated to ensure that the value of tangible fixed assets is separated from the liquid general
funds. The amounts owed under the loans are offset against the net book value of freehold land and buildings before this
and the value of significant equipment is designated as the total to be retained in the fund.
bl Parents, Association.. this fund represents donations from the Parents, Association, which were spent on capital items,
therefore a transfer to unrestricted funds has been made.
cl Ursuline Links.. this fund was set up for monies to be given to Ursuline Links, a registered charity which is a volunteer
programme run by the Ursuline Sisters. It aims to give Students and adults opportunities to be of service in the UK and
abroad.

URSULINE PREPARATORY SCHOOL WIMBLEDON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 {continuedl
13. PENSION SCHEMES
The School participated in a defined contribution pension scheme for teaching staff after leaving the Teachers, Pension
Scheme. The assets of these schemes are held separately from those of the School in independently administered funds. The
pension charge for the year includes contributions payable to these schemes of £104, 13112023.. £100,832). At the year end,
E12,680 of pension contributions were outstanding12023.' £12,341) for this scheme. This was paid after the year end.
The School also participated in defined contribution pension schemes for other members of staff. The assets of these
schemes are held separately from those of the School in independently administered funds. The pension charge for the year
includes contributions payable to these schemes of £31,844 12023: £29,001). At the year end, £5,384 of pension
contributions were outstanding12023.. £4,520) for this scheme. This was paid after the year end.
14. TAXATION
The School is a re8lStered charity and therefore is exempt from corporation tax on income derived from its charitable
activities.
15. CONTROLLING PARTY
The School's Articles of Association state that the Trustees have control of the Company and its property and funds.
A Deed of Priority is in place and Schedule 2 - Deed of Overage provides that 25% of the gross sale proceeds are due to the
Ursuline Order if the school buildings are disposed of. Overage of £2,125,000 was paid in October 2024.
The Ursuline Order has made an interest free103n of £140,000 to the Trust, repayable over five years from March 2020. The
loan is secured by a debenture 8iving a fixed and floating charge over all assets, not already mortgaged. This loan was repaid
in October 2024.
16. LEASE COMMITMENTS
2024
2023
Within one year
Within two to five years
2,777
Lease costs expended during the year amounted to £2,77712023.' £9,255).
17. POST BALANCE SHEET EVENT
On 2 November 2023 the trustees announced the closure of the school at the end of August 2024 as the number of pupils
had fallen below the levels that allowed the school to plan for the future. The freehold property was sold in October 2024
and the overage and all borrowing5 were repaid in October 2024. All charges were then released.
Funds of £3,452,000 were realised from the property sale after repayment of the borrowings and payment of the overage
due.
-20-